Every Tuesday, here at the CV Escrow website, we post Technology Tips designed to help you, the Realtor, grow your business, keep up to date on the latest technologies, and move you forward into the new era of Real Estate.
It is very common for Realtors to find the world of Web 2.0, social networking, and technology overwhelming. There is so much new terminology and new information. The technical landscape seems to move so fast. The news talks about the latest “thing” be it Blogging, Facebook, or Twitter. How does one keep up?
This post is to remind you that the most obvious forum for finding the answer to your questions is right under your nose and is often overlooked: Google. Google tends to have the answer to anything. Not sure what that text acronym TTYL is that your client (or niece) is using? Type “TTYL” into Google and you’ll have an instant answer. Wondering what this Twitter thing is and if it is something you should know about? Type in “Twitter for Realtors” into Google and you’ll get plenty of perspectives on how to decide if Twitter is for you.
Do you feel you get too many results or don’t seem to find what you are looking for when you search for a topic on the web? Common Craft did a great video explaining Web Search Strategies in Plain English. Invest 3 minutes of your time and watch the video to learn some basic tips that will help you find exactly the content you are looking for when you search the web. It will not only save you time, but it will also open the door to answering any question you might have regarding technology, your real estate business, and this world of Web 2.0.
You might also want to consider Google-ing the name of the clients you are working with. In a previous post, I discussed the merits of Google-ing yourself and how to set up a Google alert to track what is being said about you on the web. With the proliferation of social networks and the boom in participation in them, many of your clients are out there and searchable on the web. You may learn a thing or two about your clients that will help you to connect with them as you help them with their real estate needs. Give Google a try!
Interested in what you are reading? To automatically receive these Tuesday Technology Tips in your email box, subscribe to these articles at the top right corner of this site (www.CoachellaValleyEscrow.com) in the box titled “Subscribe via Email”.
Every Tuesday, here at the CV Escrow website, we post Technology Tips designed to help you, the Realtor, grow your business, keep up to date on the latest technologies, and move you forward into the new era of Real Estate.
To many Realtors, the concept of using video in their business is limited to the use of a virtual tour to market their listings. But, the technology of today busts the door wide open for agents to incorporate video into their business like never before. And, video is powerful stuff. Take a look at this video by Mike Mueller discussing the merits of video for real estate. He recorded this as part of a contest on MyTechOpinion.com answering the question “What technology product or service has made the biggest impact on your business? And why?”. (see all the finalists submissions here)
It is so easy and very affordable to get started with video. I carry around in my purse a Flip Video camera. You can buy one on Amazon.com for $60-$130 (depending on features like duration of recording and color ). I have this one:
My Flip Video is the size of a box of cigarettes, runs on two AA batteries, and is SIMPLE to use (you just push a red button to record, and the same button to stop the recording). And, the video is all pre-compressed and ready to be uploaded to YouTube or other video sharing site such as Viddler. The camera comes with a USB connector built into it so you just pop the Flip Video into your computer and go!
And, did you know that CV Escrow has Flip Video’s of our Escrow Officers, Escrow Assistants, and Business Development Directors on our site? People like to know who they are working with, and a brief video shows them so much more in 30 seconds than a bio that lists their professional background. Often buyers and sellers never meet the escrow officer until the end of the transaction when documents need to be signed. And for out of town buyers and sellers, they may never meet the escrow officer. We have several agents who forward on to their clients the link to the video of the escrow officer that is handling their transaction. Through the video introduction, clients get a better familiarity with the people they are dealing with on the phone. Check out videos of our team by following these links:
- Escrow Officers:
- Escrow Assistants:
- Business Development
Interested in what you are reading? To automatically receive these Tuesday Technology Tips in your email box, subscribe to these articles at the top right corner of this site (www.CoachellaValleyEscrow.com) in the box titled “Subscribe via Email”.
As you learned in Part 1 of our series on Indian Leased Land Escrows, when you’re dealing with Indian Leased Land, it’s just that: a lease. The person leasing the property is the Lessee. Most of the properties on Indian Leased Land are owned individually by tribal members who are considered to be the Lessors. The lease is managed by the Bureau of Indian Affairs (BIA) and the Lessors work with an Agent to formulate the lease. The lease pays for long-term legal use of the land for the duration of the lease contract.
It’s important to remember that additional procedures and processes may be required when selling or representing leasehold property. These procedures can extend the time needed for escrow.
You might need additional time if:
- The Lessor, or Agent for the Lessor, is out of town. Escrow is often at the mercy of the Lessor/Agents day to day schedule and/or other obligations. Executing the necessary documents that are required may not be a priority.
- Several Lessors use either Fey’s Canyon Financial or Joanne Allen & Associates to act as agents for their transactions. Each of these leases, and thereby the Agents who manage them, have many requirements, including reviewing and approving specific loan documentation, title report, contract, insurance, etc.. Fulfilling all of these additional requirements will add at least 3-5 days to your process, no matter how organized you are.
- If you are obtaining a loan, it may be more complicated than a non-lease land transaction. In a standard transaction, the loan itself is the most complicated part of the process. In an Indian Leased Land transaction, there may be loan restrictions imposed by the lease, which may dictate how much down payment is required, the length of the loan, and insurance liability requirements. Their protocol may or may not require signing additional documents which will then be returned for the Lessor to review and approve. Obviously, this can add days onto the process.
- The Buyer resides, or is presently located, outside of the country. In this instance, the timing can be delayed due to notary, going through the U.S. Consulates office, etc. Other issues may be present. What’s most important to know is that in this situation, even if it is an all cash deal, you won’t be able to have a rapid closing (5 days, for example) you won’t be able to within 5 days.
- If the property is in foreclosure and owned by a Bank, the Bureau of Indian Affairs has additional requirements that can delay the process.
In subsequent posts, we’ll address the specific items or situations – rather than simply the process itself – that add more time to your escrow transaction time.
Every Tuesday, here at the CV Escrow website, we post Technology Tips designed to help you, the Realtor, grow your business, keep up to date on the latest technologies, and move you forward into the new era of Real Estate.
Do you have an iPhone, Blackberry, Treo, or other internet enabled cell phone? If you do (and have a data plan through your cell phone provider), you now have the ability to view the CV Escrow website and blog right from your phone.
Last week, CV Escrow released the mobile version of our site so that you have the ability to surf our site and our blog right from your PDA. Depending on what phone you have will determine the level of graphic sophistication you see. So, for example, if you have an iPhone, the site will be very graphically pleasing on your phone. If you have an older Blackberry, the site isn’t going to render as pretty, but it still will function great and get you access to the information you are looking for. Simply go to www.CoachellaValleyEscrow.com from your PDA’s browser to view the site on your own phone.
Here are some samples of how the CV Escrow home page looks on various PDA phones:
So what can you now do on the CV Escrow website from your web-enabled phone?
- Search and view any article that has been posted on the blog. (Are you with a client who has a question about escrow that we answered in a post? Now you can search for the post right from your phone.)
- Get our address, phone number, and email (Trying to tell a client where the escrow office is, or need to call us with a question?)
- Get contact information for your Sales Representative, Escrow Officer, or Escrow Assistant (In the field and need a check delivered to escrow, or are you with a client and have a question about your deal? Find the contact information for the person you need to reach)
- View our Twitter stream and follow us (CV Escrow is on Twitter – you can access our profile from the home page of our mobile website and see what we are talking about)
And, if you have an iPhone, you have this additional functionality:
- View a video introduction for each of our escrow officers (show your client who they are dealing with by watching a video of their escrow officer and team members.
- Google Map directions to our office from your current location
So, check out our site on your PDA. Our goal is to give you the information you want, where you are, and when you need it. Let us know what you think! We’d love to hear stories about how you use this new functionality in the field.
Interested in what you are reading? To automatically receive these Tuesday Technology Tips in your email box, subscribe to these articles at the top right corner of this site (www.CoachellaValleyEscrow.com) in the box titled “Subscribe via Email”.
In the Coachella Valley, we often handle real estate escrows for property that is located on Indian Leased Land. The Bureau of Indian Affairs-Palm Springs Agency, has federal jurisdiction over the land on the Agua Caliente Indian Reservation. This reservation encompasses approximately 28,000 acres in the western Coachella Valley, including portions of Palm Springs, Cathedral City, Rancho Mirage and unincorporated Riverside County.
It’s important to realize that additional procedures are required when handling transactions on Indian Leased Land. We will go into further details on these procedures in future posts. For now, we want to define aspects of these unique transactions so you can understand what is involved and how it can affect the escrow process.
When you’re dealing with Indian Leased Land, it’s just that: a lease. The person leasing the property is the Lessee. Most of the properties on Indian Leased Land are owned individually by tribal members. They are considered to be the Lessors. All the leases are administered by the Bureau of Indian Affairs (BIA) which is part of the US Department of the Interior. The lease pays for long-term legal use of the land for the duration of the lease contract.
According to the BIA (which provided the information and details that follow) , there are more than 11,000 leases on land within the reservation boundaries. The leases generally fall into one of two categories:
Residential Leasing
- Master Lease
- Residential Sublease
Commercial Leasing
- Master Lease
- Commercial Sublease
Most of the leasing on the Agua Caliente Indian Reservation falls into the category of residential leasing.
Residential master leases are typically negotiated by developers on large tracts of land. After building single family residences or condominiums, developers then sublease the land to the individual homeowners.
If you are an individual homeowner leasing land from a developer you would hold what is commonly referred to as a Residential Sublease, whereas the developer who leased the land from the landowner would hold the Master Lease.
What’s the difference between “Trust” land and “Fee” land?
The term “Trust Land” refers to land held in trust by the United States for the beneficial use of an individual Indian landowner or Tribe. In contrast, “Fee” land is land not held in trust by the United States. Typically, when you buy real estate, you are buying the house and the land it sits upon. This is called “Fee” land. In contrast, “Trust” land is where you own the house, but lease the land underneath that is in Trust.
The U.S. Department of the Interior holds thousands of acres of land in “Trust” on behalf of the Agua Caliente Indian Tribe and the individual Indians of the Agua Caliente Band of Cahuilla Indians.
The U.S. Department of the Interior, through the BIA, has been designated by federal law as the “Trustee” of all Indian lands. As trustee, the BIA has a fiduciary responsibility to ensure Indian landowners receive fair consideration for the use of their land.
We’re often asked, if you have a residential sublease, does that mean the land is in “Trust”? The answer is: Not necessarily. Residential leasing is not exclusive to Indian Trust lands. In fact, developers in the Coachella Valley and elsewhere have purchased land in Fee, developed the property, and then leased the property to the landowners. When property is leased on Fee land the BIA does not have jurisdiction.
What is the role of the BIA?
The BIA-Palm Springs Agency provides technical assistance to Indian landowners on matters of real property management. The BIA also holds approval authority for leasing of Trust land on the Agua Caliente Indian Reservation.
The BIA does not represent developers, homeowners, or those who lease the land; however the Palm Springs Agency staff is available to answer questions regarding the leasing of federal trust lands on the Agua Caliente Indian Reservation. It’s important to realize that Indian Lease Land is a multifaceted topic whose intricate details cannot be fully explained in one blog post. You should definitely consult with the BIA and an escrow officer – like one of ours – whose experience and expertise focuses specifically on Indian Lease Land transactions.
In future posts, we’ll inform you of the different title and lease options, as well as how to prepare for the different situations that may require more transaction time. With these posts, Leesees will become more informed on the process of buying and selling with Indian Land Leasing Agents and Lessors.
Every Tuesday, here at the CV Escrow website, we post Technology Tips designed to help you, the Realtor, grow your business, keep up to date on the latest technologies, and move you forward into the new era of Real Estate.
Are you texting yet? If not, it’s time to get on board!
Why Text Message?
Text messaging provides a great, and increasingly common way for you to communicate with your clients and for them to communicate with you. Maybe you want to confirm a showing with them, send them a quick message about a listing, or they want to let you know they are running late.
Texting can be very beneficial. Here are a few reasons why:
- Time saver: Texting tends to get right to the point (who wants to type out a bunch of pleasantries small talk?). A simple “be there soon” gets the message across quickly and succinctly alleviating the need to call and explain the situation. Text messaging can also eliminate the need to carry on a long-winded conversation with someone.
- It’s Easier: It is easier to simply read a message on their phone rather than have to call into a voice mail system to retrieve messages.
- Less Intrusive: Texting can be a discreet form of communication especially when you or your client are in a situation where phone calls are inappropriate. Texting provides a more subtle, less intrusive option than talking on the phone or in person.
- Not a Harsh Interruption: Texting is far more subtle than a phone ringing (which would you rather have happen in a movie theater, for example). The phone can be set to silent and the person can still read a new text message that comes in without the need to have the phone ring, or call into voice mail to hear what you are trying to communicate.
Considerations:
- Texting isn’t free. Check with your cell phone provider for how much texting you have on your plan. Do you have a limited number of text messages per month? What is the charge if you go over your limit? Generally it is about .10 – .15 cents per text which may not seem like a lot, but can add up quickly. It may be more cost effective to switch to an unlimited texting plan with your cell phone provider. Either way, it is something to watch out for.
- It is against the law to text while driving in California. Don’t do it.
- Understanding texting will help you to understand Twitter. Twitter is basically broadcast texting (you send one message, and multiple people can see it). If you are comfortable with texting, you will be more likely to understand and be comfortable with Twitter. And Twitter is starting to make a splash in the real estate world (more information on this coming in future posts).
Texting Vocabulary
You aren’t the only one who wonders what all those abbreviated words mean. Texting has, in essence, a language of its own. Brevity reigns in the texting world and in order to be able to decipher messages and send quick replies, you should know the common shorthand. Here is a guide to some of the most common you will find in the texting and twitter world:
2gtbt – too good to be true
2nite – tonight
b4n – bye for now
btw - by the way
cu - see you (as in cu l8r)
eod – end of day
f2f - face to face
ftr - for the record
ftw – for the win
fwiw - for what its worth
fyi – for your information
gtg – got to go
imo/imho – in my opinion/in my humble opinion
irl – in real life (often used in Twitter to reference meeting someone irl)
jk – just kidding
l8r – later
lmao/lmfao – laugh my a** off/laugh my f*** a** off (not the most charming of text abbreviations but very commonly used in conversational social media)
lol – laughing out loud
nbd – no big deal
oh – overheard
omg – oh my god
pls – please
rotfl – rolling on the floor laughing
re – regarding. Can also mean “real estate” depending on context.
thx – thanks
ttyl – talk to you later
ty – thank you
wOOt – hooray/congratulations
ur – your
yw – your welcome
:) - happy face for humor, laughter, friendliness, sarcasm
:D – super happy/toothy smile, broad smile, etc.
:( - sad face for sadness, anger, upset
;) – wink
:/ – wry face
:P – tongue out for just kidding
((hug)) - a hug
{{{{hug}}}} – really big hug
<g> – grin
<3 – heart on its side to show love. Ex: I <3 re = I love real estate
ALL CAPS = Yelling
Also remember that Google is your friend. If you run across a text shorthand that you don’t know, just put it into Google and you are certain to get an answer. You can also check out this Lingo 2 Word Translator.
Now that you have the benefits and terminology to successfully text, it’s time to give it a try. TTYL! :)
Interested in what you are reading? To automatically receive these Tuesday Technology Tips in your email box, subscribe to these articles at the top right corner of this site (www.CoachellaValleyEscrow.com) in the box titled “Subscribe via Email”.
