Recently by Paula Bean

In a recent article in Inman News: Mortgage bankers oppose workouts for bankrupt homeowners, Matt Carter reports that legislation that would allow judges to modify the mortgage loans of troubled borrowers who file for Chapter 13 bankruptcy protection would increase the interest rate on loans with small down payments by up to 2 percent, according to testimony by the Mortgage Bankers Association at a hearing on HR 3609, the Emergency Home Ownership and Mortgage Equity Protection Act of 2007.

Over the last year or so, as the market has softened in many areas, newer agents who found making money so easy just a few years ago are getting out of the industry. Agents who remain are being told to "get back to the basics". The problem is that "the basics" have dramatically changed in the last few years. Gone are the days when cold calling, sending out postcards, spending your valuable time at open houses, working floor time, etc. actually worked.

In a recent article, the founder of a leading online real estate referral site, tried to make the case to beleaguered real estate agents that buying leads is good for their business and intimated that failure to buy these leads from third party companies (such as theirs) is to miss out on business.

First, let's start with the basic premise - I agree with them that there is a cost to agents of obtaining business. Whether they do old-fashioned farming, mailings, phone calls, or put your resources into your client base and get your business from referrals, business has to come from somewhere and it has a monetary cost.

In a recent article, the founder of a leading online real estate referral site, tried to make the case to beleaguered real estate agents that buying leads is good for their business and intimated that failure to buy these leads from third party companies (such as theirs) is to miss out on business.

First, let's start with the basic premise - I agree with them that there is a cost of obtaining business. Whether you do old-fashioned farming, mailings, phone calls, or put your resources into your client base and get your business from referrals, business has to come from somewhere and it has a monetary cost.

I recently had time to surf around the Internet and came upon this terrific article regarding the top five real estate myths, that even some agents believe, from a well respected real estate publisher and investor, as well as a friend of mine, Rennie Gabriel of Gabriel Publications.

This article originated from Parade Magazine, an insert into many major newspapers. Rennie's comments are in response to the misinformation that abounds in that article, which, for the most part, I wholeheartedly agree with him on.