THE LAFAYETTE REPORT: April 2009

The Contracting and Organizations Research Institute ("CORI") affliated with the University of Missouri is a research institute founded to conduct empirical research on contracting and organization structure.  CORI Fellows are engaged in research on a variety of topics in the areas of corporate governance, contractual relations, managerial economics, and organizational structure.

Here are some of the tools offered by the Contracting and Organization Research Institute:

White Papers:  CORI Fellows publish White Papers on a variety of topics including:

• #2005-01 ,"Evaluating Bundled Discounts," Thomas Andrew Lambert (published in Minnesota Law Review, 89, 2005)
• #2003-01, "Why Does The Introduction of Monetary Compensation Produce A Reduction In Performance?" Harvey S. James, Jr. (forthcoming in Journal of Economic Psychology retitled as "Why Did You Do That? An Economic Examination of the Effect of Extrinsic Compensation on Intrinsic Motivation and Performance")

• #2001-05, "A Legal Basis for Workers as Agents: Employment Contracts, Common Law, and the Theory of the Firm," Harvey S. James, Jr. (published in International Journal of the Economics of Business, 10(1), 2003)

Digital Contract Database:  CORI maintains a digital contracts library with over 700,000 contracts.  This library includes:

• Business Acquisition Forms such as Asset Purchase Agreements, Joint Ventures, Merger Agreements, and Stock Purchase Agreements.
• Business Transaction Forms such as Government Contracts, Intellectual Property Agreements and Licenses, Leases, Sales/Purchase of Real Estate, and Sales/Purchase of Goods and Services.
• Compensation and Employment Forms such as Benefit/Incentive Plans, Compensation/Employment Agreements, Contractor/Consulting Agreements, and Severance Agreements.
• Finance Forms such as Guarantees, Loan Agreement, Notes, and Trust Agreements.
• Franchise Forms
• Corporate Governance Forms such as Formation Documents, Governance/Operational Documents, and Codes of Ethics/Conduct.

Now, CORI is definitely not designed for those engaged in "do it yourself" self-help drafting of legal documents and instruments.  However, it is a useful tool for attorneys drafting similar documents.  I have often used documents found on CORI as the starting point for drafting documents for our clients.  However, even if you aren't an attorney, it also provides laymen some insight into corporate America.  The contract database includes contracts and other documents drafted by the finest corporate and transactional attorneys in the country for well-known corporations ranging from Google to IBM and many others.

 

An Overview - Use JotForm to Create Interactive Forms

JotForm is an easy to use web based WYSIWYG form builder.  No programing or html experience is required.  You can use the application to create basic forms such as:

• Contact Forms
• Housing Preference Surveys
• Appointment Scheduling
• Job Application
• Event Registration
• And Much More

JotForm's Free Account is Loaded with Easy to Use Features

Features include:

• Easy to use WYSIWYG form builder.
• Create a form by using 12 pre-set templates or create a new form from scratch.
• Add different type of fields - textboxes, text areas, drop down menus, file uploads, radio buttons, check boxes and more.
• Edit properties for each field - label, size, description etc.
• Include security and payment acceptance features.
• Free account limited to 100 submission or responses per month
• No third party advertising.
• Able to include Thank You and other URL features.

JotForm is Easy to Use

JotForm is easy to use.  Here are the steps to create the programming code necessary to install a form on your website or blog:

Step 1 - Select a form template or create a new form using the design wizard.

Step 2 - Select the style for the form. 

Step 3 - Create your form contect by using the drag and drop feature to include such items as headers, text, check boxes, radio boxes and more.  Add security items such as captcha boxes or payment acceptance items like Paypal or Google Checkout.

Step 4 - Click preview. Save the form.  Click on source to obtain the i-frame source code to copy and paste into your website or blog.

Step 5 - Adjust your account settings to direct responses or submissions to your e-mail address or collect and download the responses or submissions from the JotForm website.

Need more training?  JotForm has an extensive video library.  JotForm is a good lead capture and survey tool for websites and blogs.  To view a survey included in an ActiveRain blog, click on:  Lafayette Living Survey.

Interested in discovering how to use technology to market and sell homes and to capture lead information?   Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.

PREA Signature Realty is a full service brokerage located in the historic Lafayette Square neighborhood of the City of St. Louis, Missouri. Upon receipt of the housing survey, Ryan Shaughnessy or Michelle Silies will contact you by e-mail to provide the requested listing information matching your stated housing needs, requirements and preferences. Need more immediate assistance? Contact Ryan Shaughnessy at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.

In December, 2006, Kelle Sparta, a real estate consultant, wrote a great piece for the Sales Coach column in the Realtor Magazine entitled "10 Dating Rules That Can Help Your Career."  I enjoyed the insights of author contained in the article so much that I clipped it and saved it in my sales training file and have used it and similar materials in our sales training program.

Now, the article had some great advice.  However, it only covered one side of the relationship.  Today, I would like to explain what real estate agents are looking for in their relationships with buyers so consumers know what to expect and know how to get the most out of their relationship with their real estate agent when purchasing a new home. 

Here are my top 10 dating rules that every buyer should use when working with a buyer's agent:

Rule 1 - Arranged marriages don't work.  When you are searching for a real estate agent, it is important to get recommendations and suggestions from friends and family.  However, it should be more of an introduction.  In dating, you would probably agree that arranged marriages are anachronistic in today's world.  If you agree, then why would you blindly accept and feel obligated to use the person suggested by your family or friends.

Rule 2 - Don't fall for a pretty face.  When you are searching for a real estate agent, it is important to interview several agents and to have written criteria to compare the real estate agents based on their experience, knowledge of market conditions, and other criteria.  When dating, you don't commit to the first person who shows interest in you.  If that is true, then why would you decide to work with a single real estate agent based on a chance meeting without meeting and interviewing other real estate agents to make sure their business philosophy and approach are compatible with your needs. 

Rule 3 - Take it slow.  It is important to take things slow and understand where you are in the creation of a relationship with your real estate agent.  It is good to solicit proposals.  It is fine to try to get a real estate agent to woo you with a proposal.  However, it isn't much different than dating.  You generally don't talk about marriage or children on the first day.  Similarly, you don't assign chores to your date.  Until you commit to the real estate agent, it is unreasonable and unrealistic to expect them to actively and thoroughly search for homes for you or to show you anything except their listings.

Rule 4 - Be honest and upfront.  It is important to be honest and upfront with real estate agents.  Don't pretend that you are still selecting an agent to obtain information or to find someone who will show a listing when you have already selected an agent to write the contract when you have found your home.  In dating, it would be akin to using someone for a free dinner. 

Rule 5 - We are looking for a commitment.  When a real estate agent agrees to assist you, we are looking for a commitment.  We are looking for exclusivity.  If you don't intend to work exclusively with a single agent, then you should tell the agent.  It isn't that we won't work with you.  We still want to get you to commit to us.  However, if it isn't an exclusive relationship, then don't expect the real estate agent to meet every whim or to show units on short notice.  It is like someone calling at 6 p.m. on Friday night.  It may work out if the agent isn't busy or doesn't have plans - but don't expect them to rearrange their schedule when you are unwilling to commit to working with a single real estate agent.

Rule 6 - Don't bring your mother on the date.  Real estate agents are there to provide advice and assistance.  When you bring third parties on a showing, it can interfere with the dynamics and interfere with the free flow of information.  It is like taking your mother on a date.  Is she going to cancel dinner reservations and select a different restaurant - whether or not you like the food there or not?  Are you going to have candid conversations on the date?  While it may be important to have your parents meet your suitor before you are married, initial showings should be you and only you.

Rule 7 - Cut the ties with your last boyfriend/girlfriend or former spouse.  If you have previously worked with another real estate agent or have been referred by another real estate agent from another state, it is time to cut the ties and start working 1-on-1 with your real estate agent.  It is similar to dating.  No one likes being second guessed or competing with some unforeseen person in the background.

Rule 8 - Be exclusive - Don't stray or cheat on your new boyfriend/girlfriend.  After you have had a few dates, it is time to commit.  Pick one and be exclusive.  It is no different than dating.  When you find the right real estate agent for you, stop shopping and pick just one.  After you select an agent, don't cheat on them.

Rule 9 - Be yourself.  On a date, you don't pretend to be someone that you aren't.  So why is it okay to search for homes and request showings for homes that are outside your price range, don't meet your minimum requirements or aren't in the right neighborhoods.  Real estate agents can and will see through the charade and dishonesty.  Before you start searching, get prequalified so you know what you can afford at the outset and provide your agent with a clear set of criteria as to your minimum housing requirements.

Rule 10 - Be on time.  Whether you are meeting at the office, home you are viewing, or somewhere else, it is important to be on time.  If you can't make a meeting or showing, call at the earliest possible time.  In the dating context, I am guessing that you would find it impolite, thoughtless and rude if your date didn't show or called after you were dressed and at the restaurant.  Real estate agents are no different.  They prepare for showings and it is rude to simply not show or cancel at the last minute.

Rule 11 - Recognize boundaries.  It is good to keep in regular contact with your real estate agent.  However, don't call constantly.  Some real estate agents turn-off their telephones during sales meetings, conferences with clients, and showings.  That is, they turn off the their telephone when they are meeting with you so that they can focus on you.  Similarly, there are real estate agents that are willing to take calls at all hours.  However, before you place that midnight phone call, consider your reaction if someone you are dating called you out of the blue that late at night.

Interested in professional buyer's representation?  Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or by e-mail to Ryan@PREASignatureRealty.com.

In real estate sales, agents and brokerages are often looking for ways to enhance their professional image and to set themselves apart from their competition.  With e-books, you have a new marketing tool that can be used to do just that.  E-books have many uses and purposes. 

Here are some suggested ideas for the use of e-books:

• Professional Agent Profile
• Listing Presentations
• Relocation and Neighborhood Information
• Condo Living
• Explaining New Construction
• Selling a Home 101
• Buying a Home 101
• First Time Home Buyer Handbooks
• New Construction Sales Brochures
• Listing Books
• Understanding the Buying Process from Homes Search through Closing and Beyond
• Sales Training Manuals
• Polices and Procedures Manuals

Although there are a number of book-on-demand publishers, I prefer e-books over traditional book publishing for a number of reasons, including:

Cost of E-Books - No Production Costs... No Printing Costs... No Distribution Costs.

Easy Publishing - Upload PDF, Drag and Drop Editing, then Click Publish.

Living Documents - Ability to Update Books Immediately to Change Content to Reflect Changing Market Conditions.

Multi-Media Presentation - Ability to Customize E-Book by Adding Colors and Graphics or by Incorporating Video, Audio, Text Documents, Photos and other Images, and Flash Files.

Passive Distribution - Create URL Links, Embed in Website or Blog, or Send Via E-Mail.

Testimonials and Reviews - Solicit Reader Comments on the Website or Incorporate Comments Directly into your E-Book.

 

Now, when it comes to selecting a platform to create and publish an e-book, I like the e-book publishing offered by MyEbook.  Here are some of the many features that I like:

 

Free E-Publishing Platform

Registration Required - No Software to Download or Install

Easy PDF Upload and WYSIWYG Drag and Drop Editor

Library of Previously Published e-Books - Browse Library by Popularity, Category or Tag

Social Networking Component - Allows Groups

Allows for Reader Comments that Can be Used to Promote your E-Book

Good Security - Unlike PowerPoint and Slideshow, Your e-book cannot be easily copied or modified.  Offer your e-book for public viewing (ie. free) or for private viewing (ie. paid purchase).

When I mentioned that it was easy to create and publish an e-book, I should have said "It is real easy..."  Here are the steps to create and publish your e-book using MyEBook.com:

• Step 1 - Enter title, description, and access restrictions.
• Step 2 - Upload your E-Book as a PDF file.

 

 

 

 

 

 

 

 

• Step 3 - View the Book. 
• Step 4 - Add Design Features and Multimedia.
• Step 5 - Publish E-Book.

 

 

 

 

 

 

 

 

 

 

 

 

Interested in learning more about the use of technology to market and sell homes? 

Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or send an e-mail to Ryan@PREASignatureRealty.com.