UlTImATE SUccESS GUIdEthe 1980’s. You must have: Credit, Money, and the Ability to demon-
strate that you can continue to make payments over time.
Over 260 banks closed their doors in 2008. Today, more banks are con-
solidating to survive their demise. Lenders evaluated what types of
loans should be eliminated in order to keep the market from repeating
the same mess that caused all these banks to implode. Millions of ho-
meowners lost their homes due to risky loans. Public Down Payment
Assistance programs like Nehemiah were voted out of existence by the
New Housing Bill, and became illegal as of October 1, 2008.
The market got tighter, job loss throughout the United States topped
10%, banks increased credit card interest rates, decreased credit limits,
there were record foreclosures in several areas of the country, and a
full-blown credit crunch slowed down consumer spending. Consumers
started holding their money because they didn’t know what to expect.
Buyers couldn’t buy, and sellers couldn’t sell. Credit Crunch!!
THE SOLUTION: Given this information, I began researching to find
a cure for the real estate industry. My goal was to find a new way to
execute the basics. To find a solution that provides an answer to every-
thing mentioned in this chapter. A company that meets buyers at their
individual point of need by providing an opportunity to receive a rebate
that lowers their closing cost. A concept that helps sellers preserve their
hard-earned equity by reducing the cost to list their house on the MLS.
A concept that gives Realtors a vehicle that will allow them to pros-
pect less, facilitate more, and increase their income. I wanted a business
method that embraces where the industry is going. However, to accom-
plish this, I had to understand what consumers want, how their buying
and selling habits have evolved at the hands of technology, and how to
deliver a comprehensive service that created a win-win situation.
I took the time to research and understand the evolving dynamics of
the real estate industry and the new direction that was being driven by
the consumer. Given technology today, can you imagine what the real
estate industry will be like in five years? Can you imagine what Zillow
and Trulia will be like in 5 years? Can you imagine how many more
new real estate search sites will be up and running in 5 years? It’s inevi-
table!!! This new understanding commands that Realtors let go of the
old traditional way of practicing real estate and embrace the change that