August 2013

Getting Business Done. Everywhere.

Customer Story: Jeremy Lehman

Jeremy-Lehman
You always hear about how technology can solve this problem or that problem, or help you do something better or more efficiently. While it might seem like there are endless possibilities – sometimes knowing how to leverage technology or “use it” can be more of a challenge than finding the right solutions.

Meet Jeremy Lehman – he really “gets it.”

Jeremy is a technology enthusiast turned real estate agent in Orange County, California who is always on the go. I gave Jeremy a call the other day as he was in-between a quick stop at the Apple store and picking up his kids from school. “I would say that I am on my mobile devices ninety plus percent of the time,” Jeremy told me.

 

Having his phone on him 15 hours a day  is not uncommon for Jeremy. “I am rarely on a computer and it’s not that my mobile devices have completely replaced my computer because it is necessary, but it’s because I am on the go so much it makes sense to use my mobile devices to get things done rather than waiting until I get back home or wherever,” Jeremy said, adding with a chuckle “I spend almost no time in the office, almost to the dismay of my team.”

The Boutique Real Estate Group

Jeremy is a Realtor and CTO of The Boutique Real Estate Group in Orange County, California.

However, just because Jeremy’s not in the office doesn’t mean he isn’t working, in fact he sees it as just the opposite. “I don’t believe that someone who’s always in the office is doing incredibly well, because the reality is business gets done everywhere but the office these days,” Jeremy said. He still prefers doing business “belly to belly” with his clients because after all real estate is a service-based business. Being mobile allows him to be more efficient with his time and proactive with his clients. “If I am driving my car and I get a call from my assistant, client or another agent who needs a specific document for a deal, I need to be able to access any document from the road at any given time,” Jeremy said. He added that it doesn’t matter if he is on vacation or on the golf course – he never has to tell a client he is too busy doing personal things to get back to them. “I don’t think those sort of answers are acceptable these days,” Jeremy said, adding it’s okay if he’s using his time for personal reasons because he can still get the job done and is not delaying transactions.

Boutique-Property

I asked Jeremy what sort of mobile tools he uses while on the go and he said he uses an iPhone, iPad and a stable of core apps that included Cartavi and DocuSign. He also said his group, The Boutique Real Estate Group, uses mobile forms that are tablet compatible and that he uses DocuSign Ink as a signing solution for his iPhone and PDF Expert for his iPad. He said PDF Expert allows him to write on the contract through his iPad to add additional terminology. He also uses MLS Touch, which allows him to access MLS listing at all times. Jeremy’s suite of mobile solutions is pretty impressive and allows him to do everything on the go, which is what I meant when I said “he really gets it!”

Jeremy does not just use technology to stay on the road though; he also uses it to get more business. He maintains a significant web presence and uses social media to market his offerings. “I think it is important that we have profiles on any place that a client is going, so if clients are going to Zillow then you need a presence on Zillow, if they are going to Realtor.com – then you need a presence there.”

Jeremy said most of the people in his group also have personal websites and are very searchable. His personal website is http://about.me/jeremylehman and came up immediately when I searched his name on Google.

Boutique-Property

Jeremy also said he is doing mostly listings now even though his business used to be more 50/50 buyers and sellers. “We are in an extreme sellers market,” Jeremy said. He also added that shifting business models’ is difficult but he has used the internet to establish himself and develop a steady stream of listings. “I guess it is marketing the whole negotiating dynamic, using technology, but also offering a high personal level of customer service,” Jeremy said. I asked Jeremy how he got into real estate and he said was actually working with a title company but a Senate bill would have gotten rid of the services that he offered so in 2007 he decided to get his real estate license and become an agent, and as he puts it, “I always sort of ‘got’ real estate.”

Jeremy is also very involved in leadership and serves on the Board of Directors at the Pacific West Association of Realtors and the California Association of Realtors. He is also a technology trainer and mentor, and occasionally does real estate technology workshops for Apple. He will tell you though, for as savvy as he is with technology, “I’m not nearly as technical as people think I am. I just sort of understand technology and how to use it.” Even though Jeremy has figured out how to use leverage technology to his advantage, he still prides himself on providing “likable” customer service, fast response times and doing a very professional job.

If you are thinking about listing a property in Orange County, just look-up ‘Jeremy Lehman’ and you’ll find him at his Personal WebsiteFacebookTwitterLinkedinTrulia,YourSoCalAgentInstagram… the list goes on and on. He is not hard to find, trust me.

Half of All Homes Are Being Purchased With Cash

 

52 Ovation, Irvine, Ca 92620

52 Ovation, Irvine, Ca 92620

 

Story Via WSJ Real Estate News

August 15th, 2013

More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists at Goldman Sachs Group.

The analysis estimates that around 20% of all homes sold before the housing crash were “all-cash” sales (or around 30% of sales by dollar volume). But over the past seven years, the all-cash share of sales has more than doubled, increasing by more than 30 percentage points, according to economists Hui Shan, Marty Young and Charlie Himmelberg.

The Goldman study analyzed home sales figures from the Census Bureau and the National Association of Realtors and mortgage-origination data from the Mortgage Bankers Association and Lender Processing Services.

The surprisingly large cash-share of purchases helps to explain why home sales have jumped over the past two years despite more muted increases in broad measures of new mortgage activity, such as the MBA’s mortgage application index.

There’s no exact way to know who is responsible for all of these cash purchases, though they are likely to include some combination of investors, foreign buyers, and wealthy homeowners that don’t want to go through the hassle of getting a mortgage before closing on a sale. Mortgage lending standards have sharply tightened up since the housing bubble, with banks scrutinizing borrowers’ tax returns and bank statements to verify their incomes and the source of their down payment.

The Goldman analysis also estimates that around 44 cents of every $1 of homes sold currently is being financed, compared to 67 cents before the crisis.

Purchase-mortgage origination volumes have fallen from around $1.5 trillion in 2005, when the housing market peaked, to around $500 billion in each of the last two years.

While declines in the volume of homes being sold accounts for some of the decline, the Goldman economists estimate that around 40% of the decline is due to the drop-off in the amount of financing per home.

The Goldman analysis estimates that purchase-loan volumes will rise to around $750 billion next year and to $1.1 trillion by 2016.