EXIT REALTY NEXUS, Minneapolis Real Estate, Real Estate information and current topics, homes for sale, twin cities real estate, ECOBroker, green building methods, eco-friendly homes.

1.  UNIQUE OPERATING SYSTEM..1
June 30 2010
 INSIGHTS .............. ……..…..2
www.exitrealtynexus.com
Connection
 MONEY, MONEY, MONEY...…..3
KEEPING YOU ON THE CUTTING EDGE OF THE
BUSINESS OF REAL ESTATE
NEXUS The thing always happens that you really believe
in; and the belief in a thing makes it happen.
~ Frank Loyd Wright~
Unique Operating System A message from Frank D’Angelo
As the world markets continue to I’m looking to have someone come agent with the broker. A ‘True Mentorship’
affect the real estate industry, there are more into this organization and carry on the leg- model.
mergers, acquisitions, sellouts, conversions acy already being built in the Twin Cities.
and plenty of closings of real estate offices. That someone might already be here and The answer is simple to me and
My job as a Broker/Owner is to have my after reading this, I hope it will be simple to
fostering their leadership skills or that some-
thumb on the pulse of these changes; any one might be out there looking to align you. We have survived and grown through
hint of someone making a move initiates a themselves with a forward thinking com- these turbulent times because of the depth of
call from me to see if they have what it takes pany who has weathered the worst economic our leadership starting with the top of the
to be part of EXIT Realty Nexus. storm and continues to grow during some oforganization. Steve Morris (CEO and Foun-
the most economically challenging times. der of EXIT Realty), formulated this back in
I treat my career as a relationship I always ask myself this question, "Why 1996 when EXIT Realty was formed. Steve
building experience; selecting those agents would someone join EXIT Realty Nexus"? Morris continues to grow and further stabi-
and brokers who will take that progressive lize this company by aligning himself with
step with EXIT Realty Nexus, so I can in- Our Unique Operating System the most prominent leaders in the industry
vest in supporting (Best Net Compensation Formula in the such as: Tami Bonnell (President of EXIT
them in our sys- Industry) is a simple revenue sharing model; Realty US), Joyce Paron (President of EXIT
tem. Name an- and, it works. It provides additional income Realty Canada), Bob McKinnon and the list
other company streams to agents and their families includ- of trainers and mentors continues to grow.
that actually wants ing retirement and death benefits. Over $200 The built-in mentorship systems ensures
their agents to Million has been paid out to date and it is Brokerage success, Agent success and Sup-
become their own NOT contingent on the profitability of the port Staff success. It’s a Win-Win situation
business owners company. It fixes agents into a brokerage for all those associated with EXIT Realty.
within the same and allows them to build a business within a
organization. business through the power of vesting the
MARKET WATCH Data courtesy of MAAR
May 2010 May 2010 5.05 Homes
Listings Pendings on the Market Per
6,335 3,910 BUYER (June ‘10)
One-Year One-Year
Change: Change: Affordability Index:
200 (June ‘10)
-22.4% -24.6%

2. Insights
with Justin Burke
The Ethics of Short Sales
tenant, or other client as an Standard of Practice 1-7 says: of Ethics
The emergence of the Short Sale agent, REALTORS® pledge “When acting as listing brokers, govern your decision-making
into mainstream Real Estate themselves to protect and pro- REALTORS® shall continue to process. Are you promoting your
transactions in the past few years mote the interests of their client. submit to the seller/landlord all client’s interests? Are you deal-
has certainly changed some This obligation to the client is offers and counter-offers until ing honestly with all parties? Are
things. The lengthy wait time primary, but it does not relieve closing or execution of a lease you submitting all offers and
that occurs after accepting a short REALTORS® of their obligation unless the seller/landlord has counter-offers to your seller ob-
sale offer has added a new ele- to treat all parties honestly. waived this obligation in writing. jectively and as quickly as possi-
ment to many residential transac- When serving a buyer, seller, REALTORS® shall not be obli- ble? Are you recommending that
tions and has forced agents into landlord, tenant gated to continue your sellers obtain the advice of
new and unfamiliar decision or other party in to market the prop- legal counsel?
making situations. One of the a non-agency ...let the Code of Ethics erty after an offer
most common situations that capacity, REAL- has been accepted Lastly, if you are still unsure after
agents have been poorly prepared TORS® remain govern your decision- by the seller/ considering the Code of Ethics
to deal with is receiving multiple obligated to making process. .... landlord. REAL- and its Standards of Practice, the
offers on their short sale listing. treat all parties TORS® shall rec- Preamble offers a safe guide in
Deciding which offer or how honestly.” ommend that sell- interpretation. The 6th paragraph
many offers to send to the bank ers/landlords ob- of the Preamble refers us to Luke
for approval is not a dilemma that How does this help us decide tain the advice of legal counsel 6:31 – the Golden Rule – which
Realtors or sellers had typically how to handle multiple offers prior to acceptance of a subse- says, “And as you wish that oth-
faced until recently. How do we while negotiating a short sale? quent offer except where the ers would do to you, do so to
make these decisions? As Real- There are two Standards of Prac- acceptance is contingent on the them.”
tors, we should be looking to the tice that best help to interpret this termination of the pre-existing
Code of Ethics as the standard Article in light of our short sale purchase contract or lease.” Comments or Questions?
that governs our business prac- question. Standard of Practice 1- Contact Justin at
tices. 6 says: “REALTORS® shall I can’t recommend or mandate 651-335-1586 or at
submit offers and counter-offers one rule or method of dealing justn7@gmail.com
Article 1 of the 2010 Code of objectively and as quickly as with multiple offers on a short
Ethics reads: “When represent- possible.” sale listing. But, what I do rec-
ing a buyer, seller, landlord, ommend is that you let the Code
UPCOMING EVENTS
&
SPECIAL OCCASSIONS
July 27th Happy Birthday Tim Kovach!!
July 15th Yo‐Pro Square Tables ‐ MAAR , Edina, MN
Yo‐Pro Square Tables ‐ MAAR , Edina, MN
MAAR , Edina, MN
2:30—4:30pm
2:30—4:30pm
Every Tuesday : Business Development Briefing
Every Tuesday : Business Development Briefing
Every Wednesday: Weekly Web Workshop
Every Wednesday: Weekly Web Workshop
10:00 am Sharp!
10:00 am Sharp!

3. Money, Money, Money:
First Time Homeowner Programs
Money, money, money. few things: These funds have with their needs and lifestyles.
You need it for just about every- down-payment assistance avail-
thing and you especially need it able up to 5000.00. This is done From learning about the initial
to purchase a home. Luckily, as a second mortgage with no steps to knowing who plays what
there are some great programs payment that is forgiven after 10role, those of us at Bank of Amer-
available for First Time Home- years of living in the home. ica are there to guide the client
buyers to stretch out those handy, each step of the way so there money the client needs to save.
green George Washingtons. These pro- aren’t surprises.
grams have Our goal along with Minnesota
Bank of America is income ...Knowing who to Knowing who to trust is Housing, is to be certain that each
proud to offer a number of pro- limits and important in selecting a homeowner gets the best option
trust is important in
grams. There are two in particu- rates can mortgage specialist. Is it whether it is the CASA Program,
lar that come to mind. The change selecting a mortgage just the mortgage pay- or MMP or something else.
CASA Program (Community daily. specialist... ment that a new home-
Activity Set-Aside) and the Min- owner needs to know in Comments or Questions?
nesota Mortgage Program (MMP) Bank of depth? No, it’s budget- Contact Jena Stanislawski
Both are made available through America works with each client ing for maintenance and repairs, 763-568-1096
the Minnesota Housing Financing closely to educate on the various taxes and insurance. All these Bank of America
Agency and Bank of America. options available so they can ob- items and more are important Home Loans
It’s important to note a tain the right home loan that fits factors in knowing how much
Donavon DesMarais Mindy Shears (multiple)
(multiple)
Regan Massee
Chris Kornberg (multiple)
Mike Peterson
CONGRATULATIONS Sheldon Berquist (multiple)
Jan Strand
ON YOUR SUCCESSES Frank D’Angelo (multiple)
Justin Burke
LISTINGS & CLOSINGS Jodi Vezina (multiple)
Debbie Blesi
Special Congratulations to SHAUN AHMAD on obtaining his Minnesota Broker’s License!
“ One way to get the most out of life is
to look upon it as an adventure.
William Feather