Friday Facts June 18, 2010

FRIDAY FACTS
June 18, 2010

Global Edge Marketing reports on the 1st iPhone app for overseas property, HomesGoFast.com. It provides access to 50,000 properties in over 70 countries and gives the ability to store favorites and view property slide shows.

Want them to open your email? Pay attention to the “from” and “subject” lines. Surprisingly, 60% of readers decide whether to delete or read by the “from” line, and 35% from the “subject” line.

NAR submitted three questions to Fannie Mae regarding HAFA (Home Affordable Foreclosure Alternatives Program). Here are the answers:
1. Buyer’s agents are not permitted to rebate a portion of their commission to the buyer.
2. Sellers who are real estate agents must list their home for sale with another broker, not their own broker.
3. The incentive allowed for subordinate lien holders (6% of any one subordinate lien, up to a total of $6,000 for all subordinate liens) is a hard cap and may not be supplemented from any source.

§ Remember that on July 10th, 2010 the new Massachusetts law concerning home heating oil systems goes into effect. There are two major provisions:
1. The installation of either an oil safety valve or an oil supply line with protective sleeve on systems that do not currently have these devices (most systems installed after 1990 most likely are in compliance)
2. Insurance companies that write homeowners policies must offer coverage for leaks from heating systems that use oil. The insurance companies are mandated to provide the coverage, but purchasing the insurance is optional for the homeowner.

§ From Susie Hale’s Frog Pond Newsletter, 3 Tips for Asking Better Questions:
1. Be curious. Doing all the talking doesn’t make your effective. Be inquisitive and ask about topics that are important to you and the person with whom you are talking.
2. Be open-ended. Use what, how, and why questions. Don’t just ask about events, but about thoughts and motivations as well.
3. Dig Deeper. Don’t accept the first answer you get. Ask follow-up questions to get more detail and surface the real story.