Grand Rapids

Official Publication of the Grand Rapids Association of REALTORS® 

grar.com 

Grand Rapids 

REALTOR® 

The Voice of Real Estate in Grand Rapids 

January 2011 

Stand out with 20 real estate mobile tools 

Smart phone users will dominate market share by end of 2011 

4Page 

Take Better 

Listing Photos 

Or Don’t Take 

Them At All 

page 12

2 

Grand Rapids REALTOR® 

Calendar of Events 

grar.com 

January 

GRAND RAPIDS ASSOCIATION OF REALTORS® 

660 Kenmoor Ave. SE, Grand Rapids, MI 49546 

Phone: (616) 940-8200 • Fax: (616) 940-8216 

www.grar.com 

GRAR 2011 LEADERSHIP 

19 – 21: 

January 27: 

February 16: 

February 17: 

March 16: 

March 17: 

March 18 – 22: 

MAR ACHIEVE Conference Meeting (Westin Book Cadillac) 

New Member Orientation 

Board of Directors Meeting 


Board of Directors Meeting 


NAR Assoc Executive Institute Meeting (Dallas, TX) 

OFFICERS 

DIRECTORS 

President 

Lola Audu, AHWD, EPRO, CRS, GRI, SFR 

616.971.0511 lola@auduhomes.com 

President-Elect 

Tom Paarlberg, AHWD, CRB, GRI 

616.954.3480 tpaarlberg@greenridge.com 

Secretary 

Mike Rundhaug, ABR, AHWD, SFR 

616.364.9551 mrundhaug@grar.com 

Treasurer 

Terry Westbrook, ABR, CRS, EPRO, GRI, 

SODREP, SFR 

616.292.7263 terrywestbrook@grar.com 

CEO 

Julie Rietberg 

616.940.8200 julier@grar.com 

Sr. Vice President 

Pamela Dyke 

616.940.8200 pamd@grar.com 

Mission Statement 

Doretha Ardoin, GRI 

616.949.8800 dorethaardoin@grar.com 

Michael S. Balsitis, ABR 

616-871-9200 balsitis@grar.com 

Gregory R. Carlson, ABR, CRS, GRI 

616-791-1500, greg@grar.com 

David W. Deverman, ABR, CRS, SFR, 

SODREP 

616-534-8815 davedev@sbcglobal.net 

Karla L. Huitsing, ABR, GRI, SFR 

616.532.3042, karla@townesquaremi.com 

Jon A. Jackson 

616-575-1800 jjackson@grar.com 

Michael J. Lamb, ABR, CRS, GRI, SFR 

616.887.4800 mikelamb@grar.com 

Dave Melvin, ABR, CRS, EPRO, GRI, SFR 

616.974.5018, dave@davemelvin.com 

David S. Miedema, ABR, CRS, GRI, SFR 

616-538-4800 david@davidmiedema.com 

Dan E. Otten, ABR, CRS, GRI, SFR, SODREP 

616.257.9500, dotten@grar.com 

The Grand Rapids Association of REALTORS® is working toward the 

advancement of the West Michigan Real Estate Community. 

For a complete list of all activities at GRAR please go to 

www.grar.com/knowledgeservices 

Inside This Issue 

President’s Message...................................................3 

GRAR News Briefs.........................................................5 

15 Ways to Optomize Facebook for Business.................8 

Take Better Listing Photos......................................12 

7 Ways to Step up Your Social Media Marketing..........16

3 

President’s Message 

Exploring the C.A.P.E.... 

A Roadmap for Transformative Growth! 


Lola Audu 

2011 GRAR President 

On January 12, 2011, 49 States found their landscapes 

to be similarly adorned with a cape of white snow. An 

oddly unifying state of affairs to be sure when one considers 

locations as diverse as Hawaii and Texas. Yet on 

January 11th as your leadership team met to discuss our 

goals and vision for the 2011 calendar year, I was struck 

by how much like the union of these United States we 

are. 

Diversity...Strengthens the Union 

There were representatives in the room from large 

brokerages and small. There were individuals who 

had many decades of experience and some who were 

in their first decade. The gathering included Brokers & 

Agents of varying ages, gender, race and experience. All 

who were in a sense competitors uniting for a common 

purpose...the benefit and welfare of our Association 

and members of the West Michigan community. It was 

gratifying to see and sense the spirit of cooperation and 

unity amongst those present. 

Where We Have Been… 

As we reflected on the accomplishments that our 

Association has recorded in the past, we were all struck 

by the rich heritage that we have known within GRAR. 

Did you know that the Grand Rapids 

Association of 

Realtors® led 

the nation in establishing guidelines for Fair Housing 

which included Broker testing to ensure that our members 

were treating people fairly according to the law? 

This achievement is noteworthy in that it demonstrates 

that we have the capacity to lead and inspire, not just 

within our own ranks but on the national level as well. 

Where We Are Going… 

Sometimes, the annals of history give us the gift of 

remembrance …reflecting on where we have been 

in order to move forward confidently into our future. 

Looking forward, I’m encouraging every member of our 

Association to subscribe to the C.A.P.E. Principle as a way 

to concentrate our energy, focus and drive to create the 

future we desire. 

The word ‘Cape’ can have multiple meanings, but when 

used as an acronym, it provides us with a road map to guide 

our programs and services in the days ahead. Ascribing 

our own particular context to the C.A.P.E., means that 

we will focus on the areas of COMMUNITY, AWARENESS, 

PROFITABILITY/PRODUCTIVITY and EDUCATION. In line 

with these initiatives, your directors, committees and task 

forces will strive to ensure that our members have the 

tools, education and knowledge to create an environment 

that promotes and supports our 

members’ success. 

continued on page 10

4 


Stand out with 20 real estate 

mobile tools 

By Andrea V. Brambila, Tuesday, January 11, 2011. 

NEW YORK -- To most effectively market properties, 

real estate professionals should go “where the eyeballs 

are”: mobile, according to Chris Smith, co-founder of real 

estate tech blog Tech Savvy Agent. 

Smith kicked off Inman News’ Agent Reboot event in 

Manhattan Tuesday with a list of 20 mobile applications 

and other tools for real estate agents to differentiate 

themselves from their competition. 

Currently, 31 percent of mobile users own smart 

phones; by the end of 2011, smart phone users will make 

up the majority, according to market research company 

Nielsen. By 2013, more people will own smart phones 

than own personal computers or laptops. Tuesday’s 

long-awaited announcement that Apple’s iPhone will be 

available on Verizon, rather than being solely restricted 

to AT&T, is likely to encourage further smart phone 

adoption. 

1. Google Maps: This mobile application allows users 

to drop a pin onto a map that takes them to Google’s 

Street View. Agents and clients can use it to “walk” 

around a neighborhood before driving there. The app 

can also be used to e-mail map views. 

Sign up for an Agent Reboot event near you 

2. HootSuite: This app allows users to manage their 

Facebook pages and profiles as well as their Twitter 

accounts. The app includes the ability to set up columns 

in order to better target prospective clients. For example, 

users can create columns of posts that only include 

a certain keyword or phrase, i.e. “moving to New York.” 

3. Evernote: Smith called this app the “new Post-It 

note.” The app allows users to save typed, image, video 

or audio notes, and syncs across users’ mobile and desktop 

devices. Those who like to hand-write can take an 

image of a handwritten note; the app then makes the 

text searchable. The app also geocodes every note so 

that users know where they were when they saved it. 

4. DropBox: This app keeps every document, spreadsheet, 

listing agreement or PDF at users’ fingertips. It 

also allows them to link to any of those documents to 

share them with other people. Smith suggested that 

agents create a PDF that answers the ubiquitous “How’s 

the market?” question, and store it in DropBox for easy 

access. 

5. DocuSign: Agents can sign documents electronically 

from anywhere using this mobile app. 

6. Realtor.com: Information on for-sale homes nationwide 

is available on this app. Users can search for properties 

in list view, satellite view or map view. For clients 

with neighborhood preferences, an area highlighter 

function allows users to trace a particular area with their 

finger to include or exclude search results in that area. 

7. Open Home Pro: Open house attendees may be 

less likely to provide phony e-mail addresses if agents 

are using this iPad app rather than a paper sign-in sheet, 

Smith said. After attendees sign themselves in, the app 

sends them an e-mail thanking them, and also searches 

for them on LinkedIn, Twitter and Facebook. Inman 

News’ columnist Teresa Boardman reviewed the app in 

the fall (see “Is real estate app ready for the real world?”). 

8. Slydial: This is an app for agents with overly talkative 

clients. “Have you ever called someone and wished 

they wouldn’t answer?” Smith asked. This app allows 

callers to go right to voice mail. 

9. QR codes: There are many QR (“Quick Response”) 

code providers out there. Agents can use these bar 

code-like images on their printed materials to connect 

clients to online resources of their choosing. 

10. Mobile ads: Eyes are shifting online and advertising 

dollars should follow, Smith said. 

11. UStream/Qik: These apps allow users to broadcast 

live -- a video of a house showing, for example. 

UStream’s Social Stream also includes the ability to 

interact with viewers through a live feed of Facebook 

and Twitter messages. Qik is for BlackBerry devices and 

UStream is for iPhone- or Android-powered devices. 

12. YouTube/Reel Director/iMovie: These apps 

allow users to shoot, edit and upload video. “Stop just 

consuming content; start creating content,” Smith said. 

13. Blogging: “What if blogging was called marketcontinued 

on page 11

5 


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6 

GRAR 

News 

Briefs 


NEW REALTOR® STORE HOURS! 

Monday - Friday 

8:30 a.m. to 4:30 p.m. 

We regret that recent staff reductions have made it necessary to revise our REALTOR Store’s hours of 

operation. Please note that we are available and anxious to serve you in the Store from 8:30 a.m. to 4:30 

p.m., Monday through Friday (excluding recognized holidays). Thank you for your understanding! 

HUD Keys Now Available At GRAR 

We are pleased to announce that the GRAR REALTOR Store now carries HUD keys as a service to GRAR 

members. These keys are sold in a bundle of five (which includes the standard HUD key plus four new keys) 

for $8.00. 

Members will want to be sure to note that HUD is now working with four firms to process its properties 

and each firm has the authority to create its own key; therefore, if you possess just the standard HUD key, 

you may very well encounter a property that it won’t access. The key bundle that is available in the GRAR 

REALTOR Store will help our members to insure that they have access to ALL listed HUD properties! 

We would like to extend a special THANK YOU to Cathy Hoppough (CB WEIR MANUEL HOPPOUGH) for 

helping GRAR obtain permission from HUD to distribute these keys. Cathy was sensitive to the fact that, 

absent this arrangement, REALTORS were being asked to make a trip in this snowy weather to her office or 

another HUD firm to obtain the keys. 

Stop in our REALTOR® Store the next time you’re at GRAR and 

pick up a set for yourself! 

grar.com

Rick Murray 

Retail Sales Manager 

616.437.7173 

rick.murray@bankofamerica.com 

Paul W. Cooper 

Mortgage Loan Officer 

616.283.0106 

paul.w.cooper@bankofamerica.com 

Ted Spiess 


616.446.4834 

ted.spiess@bankofamerica.com 

Matthew Harris 


616.299.3446 

matt.harris@bankofamerica.com 

Eloise Shattuck 


616.886.1505 

eloise.shattuck@bankofamerica.com 

An exceptional neighborhood 

deserves exceptional service 

When you call Bank of America, you can rest assured that our top 

priority is providing personal service so you can make well-informed home 

financing decisions. 

We offer a variety of mortgage solutions for qualified buyers. From the 

beginning, we will work closely with you to make sure the process is as 

efficient and convenient as possible. 

If you are planning to purchase or refinance, you can experience exceptional 

service right in the neighborhood. Contact one of our mortgage loan 

officers today. 

Bank of America, N.A., Member FDIC Equal Housing Lender 

© 2010 Bank of America Corporation. Credit and collateral are subject 

to approval. Terms and conditions apply. This is not a commitment to lend. 

Programs, rates, terms and conditions are subject to change without notice. 

00-62-0112D 04-2009 AR70163

8 


15 ways to optimize Facebook for 

Target your audience with lists, ads 

By Andrea V. Brambila, Wednesday, January 12, 2011. 

NEW YORK -- Real estate agents can take concrete 

steps to get the most out of Facebook and grow their 

business, according to speakers at Agent Reboot in 

New York City. 

Navigating social media can be “like trying to take 

a drink from a fire hose. It’s truly overwhelming,” said 

Charlie Engel, vice president of sales at online classified 

ad company Oodle Inc. Engel spoke Tuesday with 

Agent Reboot host Nicole Nicolay of Agent Evolution, 

which provides social media training and WordPress 

website design. Engel and Nicolay offered 15 Facebook 

strategy tips: 

1. Create a detailed profile. This includes adding 

photos, basic personal information, friend lists under 

“Featured People,” education and work credentials, philosophy, 

arts and entertainment preferences, favorite 

sports, activities and interests, and contact information. 

Under a recent Facebook profile redesign, users 

can add “Info” links that will appear under their username. 

2. Import contacts. To keep in touch with their 

sphere of influence, agents should import their contacts’ 

information from e-mail programs like Yahoo, 

AOL, Gmail and Microsoft Outlook. 

3. Create lists. Lists can help agents target clients 

on Facebook. For example, an agent can have separate 

lists by geographic location, by topic, or by type -- i.e., 

investors, move-up buyers and first-time homebuyers. 

Under the redesign, some friend lists can be made 

public. People on a particular list will get a notification 

if that list is added to the “Featured People” section of a 

user’s profile, so users should be careful with what they 

title the lists and who they add to them, according to 

Facebook tracking site Inside Facebook. 

4. Filter and target (aka listen and comment). Once 

friends are broken down into groups, users can click on 

their “Most Recent” news feed and select lists from a 

drop-down menu in order to interact with each group 

individually. 

5. Share the 3 P’s (personality, passion, profession). 

“Show people you’re a human being, that there’s a personality 

behind the post,” Engel said. A Facebook personal 

profile should create a sense of the whole person. 

Agent can talk about business and their listings, “but 

do it in a way that’s not a blatant advertisement,” Engel 

said. It is against Facebook’s terms of service to include 

listings in a personal profile. 

6. Share photos and video. Video “definitely stands 

out in the news feed,” Nicolay said. 

7. Create a detailed Facebook page. This is where 

agents can share listings on Facebook, though they 

shouldn’t be the only content on a page. As with the 

personal profile, a page should include photos and 

basic information, but also a biography and/or mission 

statement and useful content based on your target 

audience or community. It is not necessary to have 

two accounts to have both a profile and a page -- one 

account can handle both. Pages are viewable online 

and are search engine optimized so that even individual 

posts can appear on Google. 

8. Promote your page. Once more than 25 people 

“Like” a Facebook page, the owner of that page has the 

ability to create a distinctive “vanity URL” (such as facebook.com/username). 

A vanity URL (uniform resource 

locator) is less cumbersome than the URL assigned by 

Facebook, making it easier to add to marketing materials. 

In order to attract what Nicolay called “Likers,” 

agents should not only ask people to “Like” their page, 

but also give them a reason to by telling them what 

information they will get in return. 

9. Create a landing tab. A customized, branded 

landing tab can include newsletter information or the 

ability to search properties. The tab developer will need 

to know Facebook Markup Language, or FBML. 

10. Listing exposure (via Marketplace). Facebook’s 

classified advertising service, powered by Oodle, allows 

consumers to find an agent’s listings even if there’s no 

direct connection between the agent and the consumer. 

11. Learn the art of social listing posts. This 

means that when posting a listing, agents include 

some interesting information about the listing or the 

community around the listing. “Give people a reason

usiness 

to engage with you, a call to action,” Engel said. And 

agents should refrain from posting listings in all capital 

letters -- online, that’s like shouting, Nicolay said. 

12. Create a daily engagement plan. “If you don’t 

manage your social media, your social media will manage 

you,” Engel said. The speakers encouraged agents 

to schedule 20 to 30 minutes for social media in their 

day. During that time, agents can update their current 

status, share a helpful resource, send birthday wishes 

and make comments, among other activities. 

13. Create a Facebook Group. These groups allow 

Facebook users to gather over a shared interest with 

people they know. Groups can be public or private. 

14. Create relevant Facebook ads. Facebook asks 

about 45 pieces of information when you create a profile, 

Engel said. Though not everyone fills in every piece, 

that 

information 

can help agents 

target very specific kinds of people. 

For example: professionals who are 

over 40, live within 20 miles of a certain ZIP code, have 

more than two kids, and make more than $120,000 a 

year. 

15. Host an event. Organize a meetup around a 

local interest; a niche event, such as a modern home 

tour; a local event, such as a harvest festival; or an educational 

event, such as a short-sale seminar. 

Contact Andrea V. Brambila:

10 6 

President’s Message 

conitinued from page 3 


What We Will Need… 

During our Leadership Meeting, we asked the question...What 

will our Members need in 2011? A brief summary 

of the answers included: 

• EDUCATION 

• AUTHENTIC TRANSPARENCY 

• MOBILE APPLICATIONS 

• CLEAR COMMUNICATION 

• BUILDING BETTER RELATIONSHIPS 

• USER FRIENDLY TOOLS 

• A PRO-ACTIVE APPROACH TO SEEKING MEMBER INPUT 

It was noted during the discussion that to truly build 

an effective assessment, we need to ASK & LISTEN to 

our members. Your 2011 leadership team intends to do 

this. We will be sending out a survey asking you for your 

input about ‘What YOUR Needs Are’. Please take the time 

to fill out the survey and respond. Your voice is important. 

We want to hear from you. 

How We Will Get There… 

As an Association, it is also important for us to be 

tuned into the broader community and their concerns. 

Our Strategic Relationships Initiative is already connecting 

over 140 of our members with organizations 

throughout the city. We anticipate the launch of our 

consumer centric website towards the end of January 

or early February; a project which will not only enable 

members of the public to access all homes listed in West 

Michigan but will also provide a resource to the community 

for information and partnership. 

During the next year your directors will not only serve 

in the traditional role of Director Liason, but will each 

be actively involved in a committee/taskforce assignments 

alongside our members. This ‘hands on approach’ 

will bring your leadership better insights into the issues 

impacting our membership as we strive to lead effectively. 

What We Must Do! 

As I look out my window, I’m struck by the fact that, 

although the entire country is under a blanket of snow, 

when it snows in West Michigan we know how to deal 

with it. We are not daunted by several inches of the cold 

white stuff. In our community, the plows are out, the 

roads are salted, and the hardy folks in West Michigan 

DO what needs to be done to move on with life. We 

must not take this for granted! For it is this same spirit 

that also inspires the REALTOR community in West 

Michigan. I look forward to working with you to impact 

our community in a positive way and together to figure 

out the solutions which work well for us. 

Yours in Positive Progress, 

Lola Audu 

REAL SOLUTIONS for Realtors 

Now more than ever, the need to communicate effectively 

and efficiently with your prospective clients is crucial. 

Combine the free-standing real estate section in the Sunday 

Grand Rapids Press, and the Homes Extra magazine, 

published monthly by The Press, with mlive.com and you’ve 

got real solutions to marketing your real estate services. 

Call us at 616-222-5555 for a 

personal consultation regarding 

your communication needs. 

FACT: 

The primary source of 

information for people ready to 

purchase a new home is the local 

newspaper, which is used more 

than twice as often as any other 

source. 

SOURCE: CNW MARKETING 

RESEARCH INC.

11 


Stand out with 20 real estate mobile tools 

continued from page 4 

ing?” Smith said. Who would say, “I don’t have time 

for marketing?” He recommended the Posterous or 

WordPress publishing platforms. 

14. Google Analytics: This app will tell users what’s 

working for them on their websites, including where 

people are looking and how long they’re staying on 

specific pages. Agents shouldn’t let the 99-cent price tag 

deter them from this app, Smith said. 

15. Scvngr: This app has a gaming element that 

invites users to interact with the places they’re visiting. 

The company is also offering agents the opportunity to 

create a “trek” for prospective buyers that takes them to 

places the agent designates to show off their market. 

These places can include for-sale listings, schools, coffee 

shops and landmarks, among many others. 

16. Top Producer: This app puts a leading customer 

relationship management system in the palm of a user’s 

hand. “I don’t think you can afford not to have your book 

of business with you when you’re out and about,” Smith 

said. 

17. 360 Panorama: This app takes panoramic images 

and allows users to post them on Twitter and Facebook. 

18. Dragon Dictation: This app converts voice 

memos to text and is especially useful while driving or 

walking through a house. 

19. ITeleport/LogMeIn: These mobile apps allow 

users to control their desktop computer remotely. This 

means users can view and edit files, as well as access 

their desktop software programs. 

20. Mobile Card Cast: This service provides mobileoptimized 

sites and text-message advertising. Most 

real estate websites appear “broken” on mobile devices, 

Smith said. “12-17 percent of all traffic right now is 

mobile -- are you ready?” 

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12 6 


Take better listing photos, or don’ 

Realtor Notebook 

By Teresa Boardman, Thursday, January 13, 2011. 

Last month I was asked if I would give a presentation 

on photography for Realtors with tips on how to photograph 

homes. I decided to look at the photographs in the 

MLS to get some ideas on where to start. 

It did not take long to find a blurry partial dining room 

picture taken in a dimly lit, half-million-dollar home and 

a picture of a family room with part of a human body and 

an entire dog in it representing a $300,000 home. 

A recent study by Redfin estimated that only 15 percent 

of listings are marketed with professional-quality photographs, 

and found that the homes featured in those listings 

sold for closer to their asking price than those shot 

with point-and-shoot cameras. 

If professional photography is not being used to market 

a home, it isn’t really being marketed, Redfin’s Michelle 

Broderick concluded in publishing the study’s findings. 

There are many photography sites that give instructions 

on interior photography, exterior photography and 

architectural photography of all types. There isn’t a lack 

of information on the topic online or offline. The manuals 

that come with cameras contain a wealth of information. 

Here are some instructions that I wrote on how to 

improve property photographs that struck a collective 

nerve and started a conversation among real estate professionals 

and home sellers. 

Photography tips for listing agents 

You will need: A camera, a towel, a table or sturdy flat 

surface, a hammer, a phone and a room that needs to be 

photographed. 

1. Remove camera from case. 

2. Remove battery from camera and put it in your pocket. 

3. Place towel on flat surface. 

4. Place camera on top of towel. 

5. Fold towel over camera until it is completely covered. 

6. Pick up the hammer and hit the camera at least 10 

times. When the camera is flat you have hit it enough 

times. 

7. Use the phone to call a photographer. 

8. Carefully pick up the towel and keep it folded and toss 

it in the trash (this part may take some practice). 

9. Take the battery to a recycling center. 

If these steps are followed I promise that the end result 

will be better property photos. 

I really don’t want anyone to smash their camera. I just 

want them to be used responsibly by real estate professionals. 

The post got a lot of comments. One seller sent a note 

with a link to the pictures of his home and stated that 

he was going to contact the agent and ask for new photos. 

I looked at the photos and thought to myself that I 

would fire the agent because I would question her judg- 

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t take them at all 

ment, marketing ability, commitment and professionalism 

based on the photographic evidence. 

Another seller commented that she wanted to send 

my instructions to her agent but decided not to because 

her agent used an iPhone for the photos and the seller 

did not think the agent should be encouraged to take a 

hammer to her iPhone but should -- as the seller put it 

-- “buy a camera.” 

I have seen articles on how to take property shots with 

an iPhone. It can be done but the built-in camera has 

some limitations. Most notably, it lacks a wide-angle lens, 

and it cannot take commercial-quality photographs. 

If a seller sees an agent taking photos with a phone, 

he/she may think the agent isn’t a serious professional. 

The photographs may turn out OK, but they will never be 

good, great or amazing. 

Photographs of the homes we list should be amazing, 

not just good. Photography sells real estate. Buyers use 

photographs to decide which homes to see in 

person. Homes with poor photographs are often 

screened out of the selection process. 

Amazing or 

even great 

cannot be 


accomplished without the right kind of equipment and 

a commitment to the idea that real estate photography 

is not about taking quick snapshots to document a property. 

It is about creating marketing pieces that will cause 

buyers to fall in love with the home. 

No one wants to admit that they have taken poor listing 

photos for their listings, but everyone agrees that there 

are plenty of examples of bad property photos in every 

MLS in the country. 

There is an interest among agents in learning more 

about photography, which is a step in the right direction, 

and maybe one person will leave my presentation and 

decide to either hire a photographer or use a wide-angle 

lens and put the toilet seat down before they take a 

photo of the bathroom instead of after. 

Teresa Boardman is a broker in St. Paul, Minn., and 

founder of the St. Paul Real Estate blog. She is an avid 

photographer and her work is featured on her blog. 

Contact Teresa Boardman: 

Copyright 2011 Inman News

ofta 

Our Family Title Affiliates 

www.oftas.net 

Underwritten by: 

Grandville 

4249 Parkway Place, Suite B 

Grandville, MI 49418 

Phone: 616.531.5075 

Fax: 616.531.5518 

Southeast 

2525 E. Paris Avenue 

Suite 170 

Grand Rapids, MI 49546 

Phone: 616.974.0640 

Fax: 616.974.0655 

Downtown Grand Rapids 

921 N. Division Avenue 


Phone: 616.459.2400 

Fax: 616.459.0637 

Standale 

4601 Lake Michigan Dr. NW 

Suite B 


Phone: 616.735.1730 

Fax: 616.735.1733 

North Kent 

2900 East Beltline, Suite D 


Phone: 616.361.1001 

Fax: 616.361.1482 

Commercial Division 



Phone: 616.459.2400 

Fax: 616.459.0637 

Muskegon - Seminole 

570 Seminole Road 

Suite 102 

Muskegon, MI 49444 

Phone: 231.737.9111 

Fax: 231.737.7304 

Holland 

347 Settlers Road 

Suite 110 

Holland, MI 49423 

Phone: 616.392.2341 

Fax: 616.392.4966 

Muskegon - Summit 

829 Summit Avenue 

Muskegon, MI 49441 

Phone: 231.759.1455 

Fax: 231.759.1454 

Grand Haven 

16930 Robbins Road, 

Suite 135 

Grand Haven, MI 49417 

Phone: 616.842.4400 

Fax: 616.842.9231 

East Lansing 

1675 Watertower Place 

Suite 200 

East Lansing, MI 48823 

Phone: 517.318.4360 

Fax: 517.318.4361 

West Lansing 

6512 Centurion Drive 

Suite 320 

Lansing, MI 48917 

Phone: 517.321.5175 

Fax: 517.321.6118 

St. Johns 

902 S. US 27 

Suite A 

St. Johns, MI 48879 

Phone: 989.224.6307 

Fax: 989.224.8027 

Grand Ledge 

410 S. Clinton St. 

Grand Ledge, MI 48837 

Phone: 517.627.3204 

Fax: 517.627.0904 

739 Woodmere Ave 

Traverse City, MI 49686 

Phone: 231.946.7034 

Fax: 231.946.8130 

S ettlement 

Agency of Michigan 



Phone: 616.459.5768 

Fax: 616.459.2524 

1600 Gratiot Blvd, Suite 5 

Marysville, MI 48040 

Phone: 810.388.9930 

Fax: 810.388.9935 



Phone: 616.459.2400 

Fax: 616.459.1944 

We’re Where You Need Us! 

68 W Nepessing St 

Lapeer, MI 48446 

Phone: 810.664.9951 

Fax: 810.664.8331

15 


4 Predictions for the Mortgage 

Industry in 2011 

By Brian Summerfield, Online Editor, REALTOR® Magazine 

One of the biggest obstacles for a recovery in housing 

has been — and will continue to be — mortgage lending. 

Although rates fell to historic levels in 2010 and will 

likely remain relatively low through a good portion of 

this year, credit still isn’t easy to come by, even for many 

borrowers who would be considered safe in a normal 

market. 

With that in mind, what can we expect in mortgage 

finance during 2011? Here are a few predictions, with 

help from Tom Wind, managing director at J.I. Kislak 

Mortgage, former CEO of JPMorgan Chase’s residential 

mortgage lending businesses, and former president and 

COO of CitiMortgage: 

1. Several proposals will be made to reform and reconstitute 

Fannie Mae and Freddie Mac, but no new plan will 

be implemented this year. The U.S. Treasury Department 

is expected to offer recommendations to Congress this 

month on how to restructure the mortgage market, 

and incoming GOP representatives have made Fannie 

and Freddie reform a top priority for its agenda this 

year. However, Wind expressed some reservations about 

a speedy resolution to the issue. When some sort of 

reconstitution — or even replacement — of Fannie and 

Freddie does come, though, it will probably include an 

overt guarantee of government backing, he added. 

“Government support is essential to a well-functioning 

market,” Wind explained. “There may be times when the 

market can function without it, but long-term, ensuring 

the liquidity of mortgages is essential.” 

2. FHA will continue to be the prime mover in the 

secondary mortgage market. Because Fannie and 

Freddie are still in limbo, the FHA will 

remain the most important institution 

in the mortgage 

space during 2011. 

And while Wind 

sees its role diminishing 

somewhat 

as the secondary 

mortgage market 

settles into some asyet-undefined 

new 

normal, he says it 

will probably remain 

the primary driver of 

home loans for first-time buyers for the foreseeable 

future. 

3. Refinances will go down, purchases will go up. 

Overall, Wind expects U.S. mortgage lending activity to 

be way down in 2011, due almost entirely to a severe 

drop in refinances. (Wind predicts that the refi market 

will fall more than two-thirds, from $1 trillion to $350 

billion.) This decline — along with changes to compensation 

caused by new rules from the Federal Reserve 

and the Dodd-Frank Wall Street Reform and Consumer 

Protection Act, which could mean 30-40 percent less in 

earnings on each loan — will drive many loan officers 

out of the business this year. 

The silver lining here is that with favorable affordability 

conditions, improving economic fundamentals, and 

moderate interest rates, mortgages for home purchases 

will likely go up. “Any way you cut it, it’s going to be a 

smaller market,” Wind says. “But purchases will probably 

grow.” 

4. Jumbo loans will remain hard to come by. Although 

Wind sees private investors and financial institutions 

easing back into jumbo mortgage loans, there’s still substantial 

concern about high-end homes holding their 

value over the next couple of years. He predicts 

this will be the last strata of mortgage 

loans to recover: “For a healthy 

jumbo market, we need a healthy 

housing market [first].”

16 6 


7 Ways to Step-up Your Social Media M 

These free and low-cost marketing platforms and social media 

management tools can help you make the most of Web 2.0. 

By Erica Christoffer | September 2010 

There’s no doubt that creating a significant online 

presence can be beneficial in marketing your business. 

But you should stop spending half your time juggling 

your social profiles and blog posts. While consistency 

and relevant communication is key in attracting online 

leads, adopt some social media upgrades in your marketing 

plan to help simplify your life and save your valuable 

time for business. 

Here are seven enhancement tools — some subscription-based, 

others free — to help you hone your social 

media marketing efforts and get in front of your sphere 

more efficiently. 

Flowtown.com: You don’t need to be on 80 social 

network sites. Find out where your clients are and go 

to them. Import your e-mail database into Flowtown to 

learn what percentage of your sphere is on Facebook, 

Twitter, LinkedIn, MySpace, Flickr, and other Web sites. 

Flowtown will break down the data associated with 

your contact list by network, age range, gender, and 

location. Plans range from 10,000 e-mails for $17 per 

month up to 200,000 e-mails for $197 per month. 

Ping.fm: Once you’ve established social networking 

accounts, Ping.fm can syndicate your updates to 

all your sites at once. Ping.fm also lets you post from 

your mobile phone, IMs, e-mail, and third-party apps. 

Although some marketing experts may argue that your 

content should differ among your social profiles, Ping. 

fm is a great tool for aggregating your blog posts to all 

your networks (see the tutorial video). Free. 

HootSuite.com: This social media dashboard lays out 

your networks and blog account feeds on your desktop 

or smartphone, helping you to organize and publish 

messages quickly to multiple platforms. Don’t flood 

your contacts’ news feed; schedule your messages and 

tweets with HootSuite to be published throughout the 

day. This application also offers an integrated ow.ly URL 

shortener. Free. 

Publitweet.com: Reading tweets can be like reading 

a foreign language to some people. Publitweet is a 

widget for your Web site or blog that translates Twitter 

lingo and abbreviations, such as @ and RT, for non-Twitter 

users to access your status content. Free. 

Friendorfollow.com: Looking for a fast way to manage 

your Twitter contacts? Friendorfollow.com tells 

you who you’re not following back, and who among 

your follows is not following you. Simply enter your 

Twitter username and friendorfollow.com will generate 

a breakdown of your contacts. It’s a great way to make 

sure you’re reaching the right people. Free. 

Fabusend.com: Put your networking profiles in front 

of your clients in every e-mail you send. This smart 

e-mail stationery company will help you create customized 

e-mail marketing with branded e-letterheads in 

which you can incorporate five live-link social media 

icons. When your contacts click on the icons, they’ll go 

straight to your Facebook page, Twitter profile, YouTube 

channel, blog, or LinkedIn profile. The service also provides 

tracking technology that lets you know if and 

when your e-mail is opened and how many times it was 

opened. Fabusend Premium version, with Live Links, is 

$238 annually. Use discount code RRF101 and receive 

$100 off, bringing the total to $138 per year. 

Follr.com: An online social business card with Follr. 

com gives you the ability to display and link your social 

profiles, Twitter feed, videos, listings, and contact info in 

one professional spot. You can add a bio, work history,


arketing 

and personal introduction to your profile. This simplifies 

things when it comes to your old-school business cards 

— you need to include only one Web address (example: 

follr.com/user_name). Add it to your e-mail signature 

or make it your Twitter link. Free. (Add-on PowerSites, 

Foley digital ad 12.10.pdf 12/9/2010 1:40:56 PM 

which are single-property Web sites, start at $50.) 

Erica Christoffer is the multimedia Web 

producer of REALTOR® magazine. S 

he can be reached at echristoffer@realtors.org. 

TheBestPlace 

For a low Mortgage Rate. 

Sample Rate Survey * 

30 Year Fixed Rate 

Financial Institution Rate Points APR 

Lake Michigan Credit Union 4.750% 0.00 4.769%** 

Independent Bank 4.875% 0.00 4.897% 

Flagstar Bank 4.875% 0.00 4.928% 

Chemical Bank 4.875% 0.00 4.968% 

5/3 Bank 4.875% 0.00 4.985% 

Click here for today’s rates. 

We’re Michigan’s Largest Credit Union 

Mortgage Lender. Whether you have a client 

buying their first home or planning a dream home, 

Lake Michigan Credit Union is the best place for 

their mortgage. 

Become a partner with Lake Michigan Credit Union 

today. Call Meg Dunn, Vice President of Retail 

Mortgage Sales --West Michigan at (616) 643-0642 

or email meg.dunn@lmcu.org 

Follow Us: 

*Source: Sample lender survey collected from Bankrate.com and lender websites as of 12/9/10. Home purchase based on 

$200,000 loan amount with 20% down payment. Annual Percentage Rates (APRs) include all prepaid finance charges that can be 

amortized over the life of the loan under the Truth-in-Lending Act. **Max Mortgage program. Base APRs are quoted, your rate may 

vary depending on your specific credit terms and property analysis. Rates subject to change. 

(800 or 616) 242-9790 • www.LMCU.org

18 6 

The Vanishing FSBO 


By Robert Freedman, Senior Editor, REALTOR® Magazine 

Sales might be down for many of you but so is the competition 

from FSBOs. An analysis of buyer and seller data 

that NAR collects annually shows a fairly dramatic drop in 

for-sale-by-owner transactions over the last two decades. 

In 1991, 19 percent of sellers, or almost one in five, sold 

their home as a FSBO, and 77 percent retained the help of 

an agent. In 2010, fewer than 10 percent sold as a FSBO 

and 88 percent, or almost nine in 10 sellers, worked with 

an agent. That’s a 14 percent increase in favor of agents 

over that 19-year period. 

You might expect FSBOs to go down since the tough 

market began several years ago, but the trendlines have 

been heading south for far longer than the downturn, 

suggesting other factors at work. 

One shift we’re seeing is that FSBOs are increasingly private 

transactions. In 2003, the first year NAR started looking 

at the question, a little more than a third of FSBOs, or 

36 percent, knew who their buyers were upfront. By last 

year, that number had increased to 50 percent. That’s a 38 

percent shift. That suggests FSBOs are increasingly hesitant 

to go it alone unless they have their buyer lined up 

before they take the plunge. 

On prices, the data suggests deals involving agents 

fetch quite a bit more: $199,300 typically versus $140,000. 

That kind of differential has long been the case. But as 

with any statistic about pricing, deeper analyses are needed 

to know whether that differential is caused by agents’ 

ability to more accurately price listings or whether FSBOs 

tend to congregate at lower price points or in lower-cost 

markets. It could be a combination of these factors. 

The data comes from NAR’s 2010 Profile of Home Buyers 

and Sellers, which NAR released in November 2010. Since 

release of the report, NAR Research has been going back 

into the data to examine bits and pieces of it. This latest 

look at FSBOs is one of those targeted examinations of the 

data. A short summary of the FSBO findings, with some 

tables, is posted at the NAR Research page on Facebook.

19 


MetLife Home Loans 

Friendly, 

expert service from your local 

home loan professionals 

The professionals at MetLife Home Loans are committed to helping homeowners and homebuyers 

find loan options that fit their needs. Whether purchasing a new home or refinancing, we can help 

you find a solution that’s right for your customers. 

For more information on how we can assist you and your customers, contact a member of our 

team today! 

John Seville 

Branch Manager 

616-285-2130 

jseville@metlife.com 

Richard Veldman 

Branch Manager 

616-285-2111 

rveldman@metlife.com 

Josh Haywood 

Mortgage Consultant 

616-285-2124 

jthaywood@metlife.com 

Greg Clausen 


616-285-2117 

gclausen@metlife.com 

Paul Pritula 


616-285-2144 

ppritula@metlife.com 

Branch Address | 330 E Beltline NE, #300 | Grand Rapids, MI 49506 

® 

For business and professional use only. Not for consumer distribution. 

All loans subject to approval. Certain conditions and fees apply. Mortgage financing provided by MetLife Home Loans, 

a division of MetLife Bank N.A. Equal Housing Lender. ©2010 METLIFE, INC. L0210086456[exp0211][All States][DC] © UFS 12256

Grand Rapids

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