Can the Web Save the 6% Commission? from Future of Real Estate
"The publication polled a sample of 3753 readers who sold or tried to sell a home, 4029 readers who bought a home and 7368 readers who did both. The results are illuminating to anyone in the industry; especially some of its findings which will surely be controversial.
Let’s look a bit deeper at the numbers.
First, the good news. Only 1% of sellers tried to use an online web site (craigslist, forsalebyowner.com etc.) to sell their home. 80% chose to go with an agent. It suggests that any fears that online players may someday distermediate the Realtors seem overblown. Sellers want to work with a real estate professional."
Wednesday, September 10, 2008
Can the web save the 6% Commission? Real Estate
Can the web save the 6% Commission? Real Estate
Can the Web Save the 6% Commission? from Future of Real Estate
"The publication polled a sample of 3753 readers who sold or tried to sell a home, 4029 readers who bought a home and 7368 readers who did both. The results are illuminating to anyone in the industry; especially some of its findings which will surely be controversial.
Let’s look a bit deeper at the numbers.
First, the good news. Only 1% of sellers tried to use an online web site (craigslist, forsalebyowner.com etc.) to sell their home. 80% chose to go with an agent. It suggests that any fears that online players may someday distermediate the Realtors seem overblown. Sellers want to work with a real estate professional."
Tuesday, August 19, 2008
Quick Update on Long Island Flood Insurance
Summer is the season where everybody on Long Island has much better things to do than think about their insurance (as opposed to the rest of the year, when it's everybody's favorite pastime). But there is one item I wanted to post about since it may affect some of the readers.
FEMA, the government agency that oversees the National Flood Insurance Program, has been in the process of re-mapping Nassau and Suffolk counties, which is done about every 10 years. This is the first one for our area since Katrina so expect some changes.The new maps take effect next summer.
But in the meantime FEMA is hosting two meetings in Nassau County for anyone who might be interested in more information. The meetings will run from 4 to 8 p.m. and will be on September 9 at Valley Stream High School on Fletcher Blvd and September 10 at Long Beach Middle School on Lido Blvd.According to the Newsday article, 28,000 more buildings will be brought into flood hazard areas next year when the new maps take effect, and of those, the people who have mortgages insured by FNMA and other government backed plans will get a letter advising that they are now required to buy flood insurance where they did not have to before.
In the meantime, people have an opportunity to be 'grandfathered' into the maps and plans that are in effect now. If you buy flood insurance before the change next summer, and your flood zone changes under the new maps to a higher rate, you will still be able to keep the previous zone. So if you think you might be on the border of a flood zone, and may be in a higher rate class next year, you might think of buying coverage now to lock in your current zone.
FEMA, the government agency that oversees the National Flood Insurance Program, has been in the process of re-mapping Nassau and Suffolk counties, which is done about every 10 years. This is the first one for our area since Katrina so expect some changes.The new maps take effect next summer.
But in the meantime FEMA is hosting two meetings in Nassau County for anyone who might be interested in more information. The meetings will run from 4 to 8 p.m. and will be on September 9 at Valley Stream High School on Fletcher Blvd and September 10 at Long Beach Middle School on Lido Blvd.According to the Newsday article, 28,000 more buildings will be brought into flood hazard areas next year when the new maps take effect, and of those, the people who have mortgages insured by FNMA and other government backed plans will get a letter advising that they are now required to buy flood insurance where they did not have to before.
In the meantime, people have an opportunity to be 'grandfathered' into the maps and plans that are in effect now. If you buy flood insurance before the change next summer, and your flood zone changes under the new maps to a higher rate, you will still be able to keep the previous zone. So if you think you might be on the border of a flood zone, and may be in a higher rate class next year, you might think of buying coverage now to lock in your current zone.
Monday, July 21, 2008
Marketing online for real estate
Yahoo conducts study on how the internet effects home buyers and home sellers....
"Yahoo! Inc., just released the results of a study they did on how the Internet influences home buyers and sellers and specifically how it influences consumers when it comes to selecting a real estate agent.
No great surprises in the results (which were tabulated from a survey of 500 participants)… Yahoo’s found that… Yes… the Internet plays a “pivotal role in the selection process and was central in helping consumers identify agents”....." Future of Real Estate marketing
Marketing online for real estate
Yahoo conducts study on how the internet effects home buyers and home sellers....
"Yahoo! Inc., just released the results of a study they did on how the Internet influences home buyers and sellers and specifically how it influences consumers when it comes to selecting a real estate agent.
No great surprises in the results (which were tabulated from a survey of 500 participants)… Yahoo’s found that… Yes… the Internet plays a “pivotal role in the selection process and was central in helping consumers identify agents”....." Future of Real Estate marketing
Friday, July 11, 2008
Insurance Issues as we head into Hurricane Season 2008
Greetings all. have not posted in a while about the Long Island homeowners insurance market because it has been 'more of the same' for a while now. That's not to say the situation has gotten better, but change is what makes news, and there have not been many changes making their way to the public for a while.
It seems a little strange to be blogging about hurricane and flood catastrophes as I sit in my office and look out on to one of the most beautiful days we have had. Still, the 2008 hurricane season is underway, with Bertha chugging around the Atlantic as a reminder. Of course once again you can find experts who are saying that this season will be more active than normal, but those same experts have been saying that for several years and so far they have been wrong. I only wish I had a job like the weatherman, where I could be wrong half the time and still get paid.
There has been one interesting development recently that could make it easier to get homeowners or similar insurance down near the water. The New York Property Insurance Underwriting Association has been permanently authorized by the state legislature. This may not seem like much to the average person, but for years now, this New York State-backed insurer of last resort has had to be re-authorized every year, and has been held hostage by various groups within the legislature. They would only authorize the renewal if downstate legislators, who had to make sure this coverage was available to their constituents, would in turn vote for other things that they did not necessarily want. Ain't politics wonderful?
In any event, they have now been made permanent. In addition, they have been authorized to offer broader coverages, and incentives to partner with regular insurance companies who would then be able to write supplemental coverage known as 'wraparound' so that the two policies together will provide something closer to a homeowners policy. Naturally it will take some time to put this in place, but kudos to the state legislature for getting this done.
Meanwhile, on the flood insurance side, the re-mapping of Nassau and Suffolk Counties continues. Newsday had a big article this week on the changes that are being revealed now in Nassau. A lot of folks who were previously right on the edge of a 'special flood hazard area' as defined by FEMA and the National Flood Insurance Program may now find themselves drawn into the hazard area by the new maps, which use more accurate mapping techniques as well as information drawn from the government's experiences with Katrina and other flooding situations.
If you think you are close to a flood hazard area but not in one, you might want to think about buying flood insurance soon. If you are outside the zone, in what's called a 'preferred zone' and buy coverage at those low rates, then it changes, you are grandfathered in to the low rates for as long as you keep your home. The difference can be thousands of dollars. And if it turns out that you were NOT one of those now lumped in to the higher hazard area, you can always stop carrying the flood coverage in a year or two when we know more about the new maps.
As always, for more information you can contact us through our web site at www.NYInsuranceWithSerivice.com.
It seems a little strange to be blogging about hurricane and flood catastrophes as I sit in my office and look out on to one of the most beautiful days we have had. Still, the 2008 hurricane season is underway, with Bertha chugging around the Atlantic as a reminder. Of course once again you can find experts who are saying that this season will be more active than normal, but those same experts have been saying that for several years and so far they have been wrong. I only wish I had a job like the weatherman, where I could be wrong half the time and still get paid.
There has been one interesting development recently that could make it easier to get homeowners or similar insurance down near the water. The New York Property Insurance Underwriting Association has been permanently authorized by the state legislature. This may not seem like much to the average person, but for years now, this New York State-backed insurer of last resort has had to be re-authorized every year, and has been held hostage by various groups within the legislature. They would only authorize the renewal if downstate legislators, who had to make sure this coverage was available to their constituents, would in turn vote for other things that they did not necessarily want. Ain't politics wonderful?
In any event, they have now been made permanent. In addition, they have been authorized to offer broader coverages, and incentives to partner with regular insurance companies who would then be able to write supplemental coverage known as 'wraparound' so that the two policies together will provide something closer to a homeowners policy. Naturally it will take some time to put this in place, but kudos to the state legislature for getting this done.
Meanwhile, on the flood insurance side, the re-mapping of Nassau and Suffolk Counties continues. Newsday had a big article this week on the changes that are being revealed now in Nassau. A lot of folks who were previously right on the edge of a 'special flood hazard area' as defined by FEMA and the National Flood Insurance Program may now find themselves drawn into the hazard area by the new maps, which use more accurate mapping techniques as well as information drawn from the government's experiences with Katrina and other flooding situations.
If you think you are close to a flood hazard area but not in one, you might want to think about buying flood insurance soon. If you are outside the zone, in what's called a 'preferred zone' and buy coverage at those low rates, then it changes, you are grandfathered in to the low rates for as long as you keep your home. The difference can be thousands of dollars. And if it turns out that you were NOT one of those now lumped in to the higher hazard area, you can always stop carrying the flood coverage in a year or two when we know more about the new maps.
As always, for more information you can contact us through our web site at www.NYInsuranceWithSerivice.com.
Saturday, July 5, 2008
Insurance Claims Secrets - The INSIDE STORY
Insurance claims can be a first class PITA!
With that in mind, this little bit of INSIDE INFORMATION is offered.
EVERY CLAIM HAS:
- An Adjuster (human type)
- A File (either electronic or paper or both)
- A Supervisor (also the human type)
The claim process looks like this (considering the three above items)
- The Adjuster mediates and calculates the value of the claim. (Why? Because that's what he's paid to do)
- The Adjuster documents The File. (Why? Because The Supervisor is going to check that file)
- The Supervisor reviews the file. (Why? Because once a year, the state insurance commission will audit the insurance company and randomly review claim files to be sure that the money paid out was justified, documented and in accordance with state insurance law. When there's an issue, the insurance company is fined -- HEAVILY! )
Generally, the adjuster does not personally care how much they pay to settle the claim. Let me say that again.
Generally, the adjuster does not personally care how much they pay to settle the claim.
I say generally because you will occasionally run into that young buck, fresh out of 'ADJUSTER SCHOOL" who wants to save the world and treats the insurance company money like his own. THAT'S a discussion for another day. They're paid employees with families, bills, problems, vacation plans, and a host of other issues just like you and I face everyday.
The claim adjuster doesn't really care what he pays to settle the claim.
The claim adjuster wants to get the file closed as much as you do.
As long as he can document the amount paid, he'll write the check now and be done with it.
THEREFORE......
Whatever assistance you can offer to document a better value for your claim, the faster you'll get paid.
- When you think your car is worth more than they're offering, get some documentation that supports that additional value.
- When your repair job exceeds the insurance company estimate, get a letter or itemized estimate explaining the difference.
- When the replacement cost of your kitchen exceeds what the insurance company is willing to pay, get pictures of your old kitchen and an itemized bid from the contractor that clearly indicates that you're putting yourself back as you were -- No better, no worse.
- When the 'facts of the accident' are not clear, get witness statements or police report clarification.
The more you're willing to work WITH the claim adjuster to properly document their file to justify higher payments, the more you'll get paid for your claim.
Contact me if I can help you in any way.
After all..... it's what I do.
Dennis Volz Insurance Agency
10783 Jamacha Bl, Suite 1, Spring Valley, CA 91978
OFFICE: (619) 670-1000 - FAX: (619) 670-1121
eMail:mailto:Dennis@DennisVolz.com
Websites: Company Site: DennisVolzInsurance.com
Client Convenience Site: 6701000.com
My 'Other Blogs'
Working by Referral
Musings from California
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