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PDF Editor FAQ

If timeshares are horrible investments why do people still buy them?

Timeshare is not necessarily a bad thing.I suppose it depends where you buy it from.The regular timeshare deals are made via a face to face presentation where the ‘sales guy’ will promote either a certain resort or the company he works for, sometimes the company may own several resorts.Timeshare has been tarnished in the past because the salesmans job is to ‘sell the dream’ and will say anything in order to get the final sale.They will find your emotional buttons and keep hitting on them throughout the presentation.How they find your emotional buttons is done through the ‘warm up’ process, this usually lasts for the first hour of the presentation, first of all he will start general conversation regarding where you live in your country, your job, your social life, sports interests etc.These are fishing questions, trying to find out if you have a good/high paid job, live in an affluent area back home, social activities can mean do you go to the track, casino, bar etc. on a regular basis, sports interests are like surfing, jet ski etc.The reasons for the first 2 questions are to find out if you are liquid and have the spare money to join the club, the other questions are aimed to find out what sort of vacation you would be looking for.Timeshare resorts are normally beach type resorts so if you are an avid surfer for example, he now knows he has to pitch resorts where there are great beaches and great waves.After general chat, he is making a friend here, he will let you do most of the talking whilst constantly nodding his head in agreement with whatever you say, also he will be keeping eye contact with both the wife and the husband and involve both in the conversation, this keeps them both focused and does not allow for one of them to get bored at want the presentation over so they can leave.However, he will also be working out who wears the pants in the house and will be making the final purchase decision.Also if kids are present at the presentation, he will involve them in a big way, this means a lot to the parents, a case of…. what a nice guy, he didn’t ignore the kids in order to get his job done quickly.It’s called making a friend, building trust and rapport.Sometimes, if the sales guy is doing a good job with this rapport building, the ‘warm up’ can last for a couple of hours, he is in no rush to get into the presentation, better for him to make a friend and create a sort of bond.Then comes the survey sheet, this is another way of fishing for info so he can pitch a resort that would suit you and your family for the perfect vacation.You may notice throughout the presentation, even at the initial introduction, the word TODAY will be mentioned on a regular basis, this is aimed at programming your mind that this is a TODAY business, the worst thing for the sales guy to hear at the end of the presentation when the price has been given is “we need to think about it”.Reason for that is once the couple is out of the sales environment where they have been very well treated, enjoyed a nice free meal and received a gift for their time, they snap out of it and realise that it isn’t really something they actually need right now, ‘we can do this next year’.The classic one is, we love this, we need to go and have a private chat and we will come back.They are called ‘be backs’.The sales guy will never rely on a be back, simply because they do not come back, or very rarely do.Once the survey sheet is complete, he will call over his Manager, this is the ‘closer’ that will be giving the price at the end, this is to introduce him to the couple and go through the survey sheet and he will say something on the lines of…. ‘wow, this will suit you, I will leave you in Davids capable hands, he will show you all the benefits of joining our club TODAY, if you have any questions, I am sitting over there, just give me a shout and I will be over to see if I can help, shake of hands, a quick wink to the sales guy (David) if he thinks this is a possible sale and off he goes.Presentation time….. this goes on for normally around 2 hours, showing different resorts around the world which would suit them, he knows this because of the questions in the ‘warm up’ and the answers on the survey sheet.Once again he will keep both the wife and husband involved, going through all the brochures or computer presentation and allowing them to stop him in his tracks so they can look more into this certain resort, that is more than welcome for David, they are selling themselves.Once the presentation is over, it is off for a walk to the ‘show apartment’.This is where David involves the wife more so than the husband, she will be making a decision here, will we be comfortable if we stayed somewhere like this, how are the cooking facilities, she will sit on the sofa, the bed, open kitchen units, drawers, check the rest room etc. while she is doing this, David will be making fun chat to the husband to keep him occupied and not let his mind wonder with thoughts of, I’ve had enough, I need a beer or go to the beach.If there is a happy look on her face, and the kids, if they are present….. SOLD!!!There will be no rush to leave the show apartment, David is basically letting them dream that they can be staying in this luxury style apartment as opposed to the 3 star they are staying at the moment.Then, if she is happy, she or he will ask how much it is to join the club, this is where David will say, ‘good question, let’s go back and see if George (Manager) can make it comfortable for you to join.He may ask, so what you have seen so far, I will not tell George, how much do you think it would be worth to you?This is like 25 years of luxury holidays, go on wife, you tell me, (smile and a casual nod of the head).If she guesses a way over the cost price, that is a sure sign of a sale, if she guesses a way under the cost price, David has to go back into ‘warm up’ and basically do a quick motivational sales pitch, also George has his job to do and overcome any objections they may have.So, back to the sales deck, David will be pointing at certain other people on the sales deck that have joined the club TODAY, there is always someone who has joined, could be for real or could be a ‘mock’ couple.That has been known to happen with some timeshare companies.This is meant to imply, in a nice way and a very discreet way of way saying, if they can do it, why can’t you.This is also going through the couples mind too.George comes over, beaming smile, handshake, eye contact at all times, and asks how he can help TODAY!!!David will say, well George, we have looked at everything today, Jane (wife) loved the show apartment and Fred (husband) can see it will be a huge benefit for them to join the club TODAY.Oh, before David calls George on the table, he will ask 4 questions and will write the answer on the back of the survey sheet.1/ Do you like it, yes? They will say yes, he ticks that.2/ Do you understand it, how it works, yes? They will say yes. he ticks that.3/ Obviously you can use it, yes?, they will say yes (sometimes the answer there is ‘definitely’) SOLD!!!4/ OK, if we can make it comfortably affordable, am I looking at 2 new members TODAY, yes? They will hesitate there or the wife will say, ‘it depends on the price’.David shows these answers to George, whilst saying, Jane and Fred love it, they understand it and they will definitely use it.Jane and Fred have agreed that if we can make it comfortably affordable, we are looking at 2 new members TODAY, isn’t that right guys? (with eye contact to both and a confident nod of the head from David).George will be looking like he is studying the answers and nodding his head.OK, so what are we looking at TODAY, what would suit you, we have studio/1 bed/2 bed apartment memberships, which one would suit you TODAY?He gets the answer, he goes off to ‘look up the price and availability’ he knows it anyway, he writes the price down, while he is away, David is continuing the fun chat and casually moves his chair around the table so he is sitting next to the couple, usually next to the husband.This creates a 3 against one scenario against George, David is on their side and it creates a feeling that David is here to here to support us.Price goes down, deadly silence while the couple look at the price, they will look at each other, while David and George are casually nodding their heads, putting a YES into the couples mindset.Who speaks first loses.It is usually Jane that will speak first, ‘so this gives us 25 years of worldwide vacations, staying in luxury apartments like the one we just saw?SOLD!!!George nods his head and says, yes, that is it, stands up and shakes hands with both, (as if the sale is done, it is called the presumptive close) casually sits down and asks, how would you like to pay?We have 3 options.Jane and Fred are now committed, they have sort of agreed to the price with Janes question about the 25 years and luxury apartment.This is the deposits and the time to pay the balance.There may be a shaking of the head, this is a natural reaction from the buyer, it’s sort of clearing their head, like shaking off something.Usually, regardless of how well sold it is, Jane and Fred will ask for a couple of minutes alone so they can discuss this, no problem, the price is left on the table, there is a brochure within easy reach, this is so they can look at their dream resort once again, David and George casually leave the table, first asking if they would like a coffee or soft drink.If they say yes to a coffee, SOLD!!They are having a hot drink so they are not in any hurry to leave.David will be sitting within ear shot, if possible, but definitely somewhere so he can study their body language and somewhere where it is easy for Jane and Fred to call him over.After, usually, 5 minutes of deliberation between Jane and Fred, they will summon David over, he will give George a wave and sit down, he will move his chair to its original position as in the sales presentation, so he is next to George now.David should never speak during the pricing process, not a word, just the occasional nod of the head, giving signs to Jane and Fred that everything is good and they should say yes.It is Georges job to convince Jane and Fred that this is a must buy for them.If it’s a yes, then there is a shaking of hands going on all round, big smiles, welcome to the club etc.Sometimes there is a bell in the sales deck and the bell is rung when a sale goes down.This is to congratulate the new member, however, it is also a tactic to make other couple on the presentation to, once again, think hey, they look like a normal couple, if they can do it, so can we.Mind games work in sales, whatever you are buying, a car, a house, whatever.All virtuously the same tactics.If it's a no, or the dreaded, ‘we need to think about it’ then it is Georges job to turn them around to making a yes decision.Not always easy.So that is how timeshare works, as in sales, the main downfall people make, they will not be told this throughout the presentation, if they buy a studio apartment, there is little, if any chance of a ‘swap’ to a quality resort.More chance if a 1 or 2 bedroom membership is bought.Also if you buy blue time (low season) as opposed to red time (high season) you also have little chance to swap to a quality resort.2 bed in red time is the way to go.That is the downside of timeshare, people are not told the whole truth, the other downfall is the ever increasing annual maintenance fees.You can pick up a quality timeshare ownership, red time, 2 bed on most timeshare resale's websites, very very cheap.I have seen timeshare ownerships for $1.This is because they want out, had enough of the maintenance fees or they are not using the membership enough to justify the annual fees.It is not necessarily a bad thing, I know many owners that have been around the world in luxury.If you ever go on a presentation, do not use the names Jane and Fred, you may be sold something by David and George.:-)

What's the winning issue (the main thing) for Republicans in the 2016 U.S. Presidential Election?

About 75% of Presidential Elections turn on Pocketbook also known as Bread-and-Butter Issues. These can be defined as the impression voters have when considering their family budget and the national economy. The voters will decide which candidate offers the better opportunity for economic well-being.The recovery from the so-called Great Recession beginning in the 2007-2008 time period has featured a weak jobs picture. A look at the Labor Participation Rate over the last 20 years paints a troubling picture - see Illustrative Diagram below:What's worrisome is that we may have younger generations that will struggle to find employment. While it can be argued that the stock market and the real estate markets have staged comebacks, there is one nagging problem: volume.The trading in the equity markets is very light and investor attitude surveys show Main Street is very wary of the Wall Street shenanigans that rocked the markets in 2000 and again in 2008. Moreover, seemingly endless pumping of liquidity into the economy from federal budget overruns (national debt now over $17 trillion) and the expansion of the Federal Reserve Bank's balance sheet from $700 billion in 2009 to over $4 trillion in 2014, have underwritten the gains.The comment you hear from real estate professionals in bubbling markets like the San Francisco Bay Area, Beverly Hills/Bel-Air and New York City is that there is NO INVENTORY and successful bidders are cash buyers. I visited an open house in the tony Lincoln Park area of Chicago last Sunday and the realtor said he would sell the house on that first open - he had 4 offers in hand from which the seller could choose that evening.So, it has been an atypical economic recovery so far. By 2016, the conditions on the ground could be desperate. So the winning issue will likely be the traditional Pocketbook Issues. Given the the Labor Force Participation Rate problem shown above, immigration talk that includes amnesty is a non-starter as US citizens cannot find jobs.

What do people in real estate do?

In Ontario this is the list of what agent’s do for Seller’sThe ListingPre-Listing Activities1.Make appointment with seller for listing presentation.2.Send seller a written or e-mail confirmation of listing appointment and call to confirm.3.Review pre-appointment questions.4.Research all comparable currently listed properties.5.Research sales activity for past 6 months through the Multiple Listing Service (MLS) and/or public records databases.6.Research "Average Days on Market" for this property of this type, price range and location.7.Prepare "Comparable Market Analysis" (CMA) to establish fair market value.8.Research property's ownership and deed type.9.Research property's public record information for lot size and dimensions.10.Research and verify legal description.11.Research property's land use coding and deed restrictions.12.Research property's current use and zoning.13.Verify legal names of owner(s) in county's public property records.14.Prepare listing presentation package with above materials.15.Perform exterior Curb Appeal Assessment of subject property.16.Compile and assemble formal file on property.17.Review listing appointment checklist to ensure all steps and actions have been completed.Listing Appointment Presentation1.Give seller an overview of current market conditions and projections.2.Review agent's and company's credentials and accomplishments in the market.3.Present company's profile and position or niche in the marketplace.4.Present CMA Results To Seller, including Comparables, Solds, Current Listings and Expireds.5.Offer pricing strategy based on professional judgment and interpretation of current market conditions.6.Discuss goals with seller to market effectively.7.Explain market power and benefits of Multiple Listing Service.8.Explain market power of web marketing, Social media and http://Realtor.ca9.Explain the work the brokerage and agent do behind the scenes and agent's availability on weekends.10.Explain agent's role in taking calls to screen for qualified buyers and protect seller from curiosity seekers.11.Present and discuss strategic master marketing plan.12.Review and explain all clauses in Listing Contract and Addendum and obtain seller's signature.Once Property Is Under Listing Agreement1.Review current title information.2.Measure interior room sizes.3.Ask for owner's copy of certified survey, if available.4.Note any and all unrecorded property lines, agreements, easements.5.Obtain house plans, if applicable and available.6.Review house plans and make copy.7.Prepare showing instructions for buyers' agents and agree on showing time window with seller.8.Check assumability of loan(s) and any special requirements.9.Discuss possible buyer financing alternatives and options with seller.10.Identify Property management for condo11.Verify Condo Fees with manager12.Review condo bylaws for pets and other restrictions.13.Obtain average utility usage from last 12 months of bills.14.Water System: Calculate average water fees or rates from last 12 months of bills.15.Natural gas: Research/verify availability16.Verify security system, current term of service and whether owned or leased.17.Prepare detailed list of property amenities and assess market impact.18.Prepare detailed list of property's "Inclusions & Conveyances with Sale."19.Prepare detailed list of property's exclusions20.Verify appliances and any rentals of appliances, water heater, furnace, etc.21.Compile list of completed repairs and maintenance items.22.Send "Vacancy Checklist" to seller if property is vacant.23.Determine if there is a Home Owner Warrant.24.Assist sellers with completion and submission of Home Owner Warranty Application.25.When received, place Home Owner Warranty in property file for conveyance at time of sale.26.Have extra key made for lockbox.27.Verify if property has rental units involved. If so:28.Make copies of all leases for retention in listing file.29.Verify all rents and deposits.30.Inform tenants of listing and discuss how showings will be handled.31.Arrange for installation of yard sign(s).32.Obtain list of Seller's Disclosure.33.Complete "New Listing Checklist."34.Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability.35.Review results of Interior Décor Assessment and suggest changes to shorten time on market.Entering Property in Multiple Listing Service Database1.Prepare MLS Profile Sheet - Realtor is responsible for quality control and accuracy of listing data.2.Enter property data from Profile Sheet into MLS Listing Database.3.Proofread MLS database listing for accuracy - including proper placement in mapping function.4.Add property to company's Active Listings list.5.Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.6.Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic/virtual tour photography or hire a professional photographer.Marketing The Listing1.Create print and Internet ads.2.Coordinate showings with owners, tenants, and other Realtors. Return all calls in a timely manner - weekends included.3.Install lockbox if authorized by owner.4.Prepare mailing and contact list.5.Generate mail-merge letters to contact list.6.Order "Just Listed" post cards.7.Prepare flyers .8.Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.9.Prepare property marketing brochure for seller's review.10.Arrange for printing or copying of supply of marketing brochures or flyers.11.Upload listing to company and agent Internet site, if applicable.12.Mail Out “Just Listed” notice to all neighborhood residents.13.Advise Network Referral Program of listing.14.Provide marketing data to buyers coming through international relocation networks.15.Provide marketing data to buyers coming from referral network.16.Provide “Special Feature” cards for marketing, if applicable.17.Submit ads to company’s participating Internet real estate sites.Price changes conveyed promptly to all Internet groups.18.Reprint/supply brochures promptly as needed.19.Feedback e-mails sent to buyers’ agents after showings.20.Review weekly Market Study.21.Discuss lockbox showing feedback from showing agents with seller to determine if changes will accelerate the sale.22.Place regular weekly update calls to seller to discuss marketing and pricing.23.Promptly enter price changes in MLS listing database.24.Let all neighbours on the street know about the new listing by door knocking or phoningOpen House1.Prepare for and Agent’s Open House2.Open house on weekend if seller wants it3.Prepare for open house with flyers4.Notify neighbours and invite them to open house5.Set out many open house signs6.Pace ads in local papers and on social media announcing open house7.Have guests sign in at open house8.Follow up with guests that came byThe Offer And Contract1.Receive and review all Offer to Purchase contracts submitted buyers’ agents.2.Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.3.Counsel seller on offers. Explain merits and weakness of each component of each offer.4.Contact buyers’ agents to review buyer’s qualifications and discuss offer.5.Negotiate all offers on seller’s behalf, setting “conditional” time limit for loan approval and closing date.6.Prepare and convey any counter offers, acceptance or amendments to buyer’s agent.7.Email/Fax copies of contract and all addendums to closing attorney or title company.8.When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent.9.Record and promptly deposit buyer’s deposit money in Brokerage ”trust account”.10.Disseminate “Under-Contract Showing Restrictions” as seller requests.11.Deliver copies of fully signed Offer to Purchase contract to seller.12.Fax/deliver copies of Offer to Purchase contract to Buyer’s Agent.13.Email/Fax copies of Offer to Purchase contract to lender.14.Provide copies of signed Offer to Purchase contract for office file.15.Change status in MLS to “Conditional or Firm.”16.Assist buyer with obtaining financing, if applicable and follow-up as necessary.17.Order septic system inspection, if applicable.18.Receive and review septic system report and assess any possible impact on sale.19.Deliver copy of septic system inspection report lender and buyer.20.Deliver Well Flow Test Report copies to lender and buyer and proper21.the listing file.22.Verify termite inspection ordered.23.Verify mold inspection ordered, if required.Tracking The Loan Process1.Confirm verifications of deposit and buyer’s employment have been returned.2.Follow loan processing through to the underwriter.3.Add lender and other vendors to transaction management program so agents, buyer and seller can4.track progress of sale.5.Contact lender weekly to ensure processing is on track.6.Relay final approval of buyer’s loan application to seller.Home Inspection.1.Coordinate buyer’s professional home inspection with seller.2.Attend Home Buyer’s Inspection3.Review home inspector’s report.4.Ensure seller’s compliance with Home Inspection Clause requirements if agreed to..The Appraisal1.Schedule appraisal.2.Provide comparable sales used in market pricing to appraiser.3.Follow-Up on appraisal with the lender.Closing Preparations And Duties1.Contract is signed by all parties.2.Coordinate closing process with buyer’s agent and lender.3.Update closing forms and files.4.Ensure all parties have all forms and information needed to close the sale.5.Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates.6.Work with buyer’s agent in scheduling and conducting buyer’s allowed visitations prior to closing.7.Provide Home Owners Warranty for availability at closing if available.8.Coordinate this closing with seller’s next purchase and resolve any timing problems.9.Refer sellers to a Realtor at their destination, if applicable.10.Change MLS status to Sold. Enter sale date, price, selling broker, etc.Follow Up After Closing1.Respond to any follow-on calls and provide any additional information required from office files.

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