There are many choices available to market real estate today, so many in fact it can be confusing. We have put together a list of six marketing trends that we have seen be successful in getting more exposure to your property. Although there are tried and true methods that have worked for years, today’s marketing climate demands that we stay up with where and how people get their information. The six trends we will look at are:

1. Mobile technology
2. Web marketing
3. Email marketing
4. Social media marketing
5. Flyers in front of house
6. Just listed postcards

Number one on our list is MOBILE TECHNOLOGY. Since over 75% of America is receiving information on some type of mobile device, this is our first pick in getting information out to the consumer about your property. For buyer’s, it makes it easy to find a home that fits your needs in the location your desire.

From Century 21 to Realtor.com to many hundreds of other mobile applications, there are apps tailored to the consumers needs, phone technology, and technology level. A consumer can choose the app that fits their mobile phone brand and technology platform, and that has all the bells and whistles they want to help them in their home search.

For example, the Century 21 mobile app for the iPhone is a user friendly and simple application. Just open the app and the GPS will find your location and bring up a list of homes in that area. Or, you can be more specific and choose a city or zip, set your pricing and other criteria, and up pops the properties that fit your search – either in list form or on a map.

Other real estate mobile apps to check out are Realtor.com, Trulia.com, and Zillow.com. Many companies are now adding applications that you can use on other Smart Phones other than just the iPhone.

Why is mobile technology important and how does it work?

Mobile technology simply “feeds” information from the Web to your Smartphone in various programs or applications (apps). For the consumer on the go armed with a smart phone that has a real estate app, it’s as easy as pulling up in front of the home you like and with a few clicks on the phone look at photos of the interior and view the price and other important details. If you want to set an appointment to view the home, just click on a button and you can instantly be connected to the agent’s phone number, or contact them via email or text.

The advantage to the buyer: Immediate access to information
The advantage to the seller: Information to the buyer 24/7

Number two on our list is WEB MARKETING. We all know where we go these days for information and help – and looking for a house is no exception. We go online to our favorite websites, or we go to Google or another search engine. Recent estimates say that over 84% of people looking for a home start their search online. So, your property MUST be viewable on the World Wide Web (www) if you want to reach the multitude of homebuyers!

Real Estate search engines like Realtor.com and Trulia.com provide INSTANT information to the consumer, helping them make a more informed decision. In today’s web marketing you also have what we call “syndication” which means the real estate search engines send out their information to other thrird party websites, increasing exposure and views of the properties. What used to be a simple weekly ad in a newspaper with a limited readership is now a real estate ad that provides information to potential millions of interested viewers 24/7! School, community, and neighborhood specifics – and much more are also included on a listing that is marketed correctly on the Web. Mix that with a REALTOR that understands the market and can act as a guide and a negotiator along the way, and you have a WIN WIN for all parties!

The advantage to the buyer: Immediate access to information
The advantage to the seller: Greater exposure to more people

Number three is EMAIL MARKETING. If you are like 98% of the country, you are using email as a means of communication. Email marketing, just like Web marketing, broadens the potential exposure of your property.

A REALTOR with an extensive network of local real estate professionals and sphere of influence (SOI) can reach potentially thousands of interested parties with a simple email “blast” announcing their new listing. It is no secret that email is a preferred method of marketing in today’s world. And now with mobile technology bringing our emails to our phones, we can view these anytime, anywhere!

The advantage to the buyer: Information delivered from a trusted source even BEFORE it is available anywhere else
The advantage to the seller: Greater exposure to more people

Number four is SOCIAL MEDIA MARKETING. Facebook.com has over 500 millions users and other popular networks like Twitter.com and YouTube.com have hundreds of millions of active participants as well. Through social media, people can “connect” to savvy real estate professionals they trust and like and likewise Realtors can find qualified buyers using their social media networks. The Realtor that employs social media in their real estate marketing can expose your property to potentially thousands of interested prospects. One friend tells another that tells another and before long your property lands in the right buyer’s account. It broadens the possiblities, and that’s just good marketing!

YouTube.com is the #2 search engine in the world next to Google.com. More and more savvy marketers are turning to YouTube to feature videos of properties that give a personal and up-close, realistic view of the house. When the time comes for you to list your home, be sure you ask your Realtor to shoot a video of the home – and if you’re game, put on your camera face and join in the fun of making the video. Who knows, your video might go “viral” and get a million views!

The advantage to the buyer: An on-demand review of a property from the comfort of their home
The advantage to the seller: Greater exposure to more people

Going back to tried and true basics, number five is FLYERS IN FRONT OF THE HOUSE. As we can see, marketing that works is marketing that gives INFORMATION on demand, when the consumer wants it. Instead of dialing a number, viewing the info on a smartphone, or emailing the agent for information, when driving around looking for homes (which is a favorite past time for many prospective homebuyers), information available at the property is a no-brainer. A box or tube with flyers that give basic facts about the house like price, number of bedrooms, and a photo of the kitchen, simply works.

The advantage to the buyer: Instant gratification by providing key facts about the property when they are there looking
The advantage to the seller: Providing key facts that qualifiy your property to interested prospects

The last real estate marketing trend on our list is another method that has been used for years and is still successful even in this digital age. Number six is JUST LISTED POSTCARDS that announce to your neighborhood or area that your house is for sale. (Statistics show that most people moved only 12 miles away from their previous home.) When a Realtor expands that distribution to their sphere of influence (SOI), the message reaches even more real state professionals and interested parties who might be looking for what your home offers.

The advantage to the buyer: They receive information on a home that is available in their selected neighborhood or area
The advantage to the seller: Exposing your property to potential buyers in your direct area

So that completes our list of SIX REAL ESTATE MARKETING TRENDS that are proven to provide better exposure of your property when the homebuyer wants it.

Sandy Hibbard Wright, owner and creative director for Lyric Marketing and Design helps smart businesses and entrepreneurs leap to the next level in their business with innovative social media, web, email, and print  marketing.  Sandy also is Director of Marketing for CENTURY 21 Judge Fite Company in Dallas/Fort Worth and has been providing real estate marketing services to Realtors and Mortgage professionals since 2000.  Email sandy@lyricmarketing.com or call 214-208-3987 to learn more about strategic marketing and social media services that will PUSH your company to the top of your industry.

Is Social Media Important to YOUR Business?

Here’s is an interesting report on the impact of Social Media on smaller businesses by Phil Mershon – take a look and let me know how you and your business are participating in Social Media marketing.

Do you wonder if you have what it takes to compete in the social media marketplace? Who, after all, has the time or the budget to mimic Disney or Starbucks? Certainly not a small business!

Well, maybe that’s the wrong set of questions.

In fact, the 2011 Social Media Marketing Industry Report has some good news for small business marketers. Small business owners are seeing the greatest results from social media marketing.

Michael Stelzner authored the third-annual industry study in which he surveyed 3342 marketers, 47% of whom were either self-employed or small business owners. This group reports some amazing results from social media marketing. Let me show you what they found…

Social Media Is Becoming More Important
Over the course of the last 3 years, Stelzner has seen social media move from an uncertain strategy (2009 report) to a permanent fixture (2010 report) to a primary tool (2011 report) in the savvy marketer’s toolkit…..

No-one has benefited more than small businesses.

Ninety percent of those surveyed agreed that social media is important to their business. The report reveals that the self-employed (67%) and small business owners (66%) were more likely to strongly agree with this statement.

Top Benefits for Small Business Owners
Almost all marketers find that social media helps them stand out in an increasingly noisy marketplace. In fact, 88% of all marketers found social media helps get them increased exposure. Additionally, 72% of those surveyed saw increased traffic and subscriptions as a result of social media.

Small business owners were more likely than all other groups (89.2% reporting benefits) to see increased exposure.

Here are some other areas where small business owners saw greater benefits than their peers:

The self-employed and small business owners were more likely to report new partnerships, with at least 59% noting a benefit.
Small businesses were twice as likely to find qualified leads than other types of businesses.
Forty-eight percent of self-employed and small business owners saw improved sales as a direct result of their social media efforts.
The self-employed (59%) and small business owners (58%) were more likely than others to see reductions in marketing costs when using social media marketing.
Time Investment Pays Dividends
Small business owners have many demands on their time. For most of them, marketing is just one of a dozen hats they wear.

Like last year’s report, the 2011 study proved that time is a key success factor for social media marketers. Spend more time (wisely, of course) and you’re likely to see greater results. The question is how much time is required?

This can be answered in two ways:

The power of endurance—those with 3 or more years of experience in social media marketing are seeing the greatest results. For example, only 25% of those just getting started in social media saw new partnerships form, as compared to 80% or more of those with 3 or more years of experience. So marketers shouldn’t make snap judgments on the value of social media after only a few months. Give it some time!

It doesn’t have to be all-consuming. It may not take as much time as you fear. In fact, 75% of those spending as little as 6 hours per week on social media marketing saw increased traffic.

Likewise, those who spend at least 6 hours per week are almost twice as likely to see leads generated as those who spend 5 or fewer hours

While the study didn’t draw any firm conclusions on how much time marketers should spend, there’s clear evidence that those who commit at least 6 hours per week will see significant rewards for their investment.

What’s in Your Toolkit?
It’s easy for marketers to become enamored by the newest tools, but the industry study showed that almost all marketers have four tools in their toolkit: Facebook, Twitter, LinkedIn and blogs. Two surprises in this year’s study: Facebook surpassed Twitter since the 2010 survey, and MySpace is not being used by at least 81% of marketers.

Some tools that benefit small businesses:

LinkedIn

The self-employed (80%) and small business owners (78%) were more likely to use LinkedIn than their counterparts (71%).

The self-employed are the most likely to increase their use of LinkedIn in 2011 (68%) versus 61% for all marketers.

Video Marketing

Seventy-seven percent of all marketers plan to increase their use of video in 2011.

While this is the first choice for all marketers, small businesses lag behind their larger counterparts (82% of large businesses see this as a key growth area).

With all the reports on SEO and engagement benefits from video, I find myself wondering why small businesses aren’t leading the pack here. David Garland and Grant Cowell have shown us that it doesn’t have to be expensive.

Outsourcing for Growth
Only 28% of all marketers outsource any part of their social media marketing. Even though this is a 100% increase over 2010, marketers are still not sure how and when to outsource their social media. This could have to do with the relative inexperience of the audience (50% of the marketers have less than 1 year of experience).

Small business owners are the most likely to use outsourcing (34%), whereas only 24% of the self-employed have utilized outsourcing. Experienced marketers are also more likely to use outsourcing than the less experienced.

Here are the tasks that marketers are outsourcing (percentage shown is out of all surveyed marketers):

Integrating Social Media With Traditional Marketing Strategies
In a survey that highlights the increasing reach of social media marketing, it’s surprising to see trends that emphasize a growing use of more traditional (online and offline) marketing approaches. For example, at least 64% of all marketers plan to increase their use of search engine optimization and email marketing in 2011.

Here’s how small businesses are using some more traditional marketing tools:

Email Marketing

Nearly two-thirds of all businesses plan to increase their use of email marketing, but small businesses are the most likely of all.

Event Marketing

Sixty percent of all marketers plan to increase their use of event marketing (networking and speaking at conferences and trade shows). Of these, the self-employed (70%) and small business owners (65%) are significantly more likely to participate than marketers from large corporations (43% to 38%, depending on the size of the company).

Press Releases

Eighty percent of all businesses plan to either maintain or increase their use of press releases in 2011. Small business owners are more than twice as likely (52%) to increase their use than businesses with 500 to 1000 employees (24%)

Webinars and Teleseminars

A surprising 42% of all businesses have no plans to utilize webinars or teleseminars in 2011. But small businesses are far more likely to make use of this strategy. In fact, 49% of the self-employed plan on increasing their use compared to 27% of businesses with 500 to 1000 employees.

Visit and download the article and report at the Social Media Examiner.

• 
  Here are 13 lucky breaks that could be yours.
  Download printable PDF here.

  Every year, the IRS reports the most common blunders that taxpayers make on their returns. Every year, at or near the top of the “oops” list is forgetting to enter their Social Security number correctly on the tax form, or forgetting it entirely!

  No doubt about it: The opportunity to make mistakes is almost unlimited, and missed deductions can be the most costly. Tax time is a dangerous time and it can be easy to miss a trick and pay too much.  In the IRS and professional tax auditing circles, it is a known fact that millions of taxpayers overpay their taxes every year by overlooking just one of the money-savers listed below:

  1. State sales taxes. Although all taxpayers have a shot at this write-off, which has recently been extended through 2011, it makes sense primarily for those who live in states that do not impose an income tax. You must choose between deducting state and local income taxes or state and local sales taxes. For most citizens of income-tax states, the income tax is a bigger burden than the sales tax, so the income-tax deduction is a better deal.

  The IRS has tables that show how much residents of various states can deduct. But the tables aren’t the last word. If you purchased a vehicle, boat or airplane, you get to add the state sales tax you paid to the amount shown in the IRS tables for your state, to the extent that the sales-tax rate you paid doesn’t exceed the state’s general sales-tax rate.

  The same goes for any home building materials you purchased. These add-on items are easy to overlook, but they could make the sales-tax deduction a better deal even if you live in a state with an income tax. The IRS even has a calculator on its Web site to help you figure the deduction, which varies depending on the state where you live and your income level.

  2. Reinvested dividends. This isn’t really a tax deduction, but it is an important subtraction that can save you a bundle. And this is the break that a lot of taxpayers miss.

  If, like most investors, your mutual fund dividends are automatically used to buy extra shares, remember that each reinvestment increases your tax basis in the fund. That, in turn, reduces the taxable capital gain (or increases the tax-saving loss) when you redeem shares. Forgetting to include the reinvested dividends in your basis results in double taxation of the dividends — once when you receive them and later when they’re included in the proceeds of the sale. Don’t make that costly mistake. If you’re not sure what your basis is, ask the fund for help.

  3. Out-of-pocket charitable contributions. It’s hard to overlook the big charitable gifts you made during the year, by check or payroll deduction (check your December pay stub). But the little things add up, too, and you can write off out-of-pocket costs incurred while doing good works. For example, ingredients for casseroles you prepare for a nonprofit organization’s soup kitchen and stamps you buy for your school’s fund raising mailing count as a charitable
  contribution. Keep your receipts and if your contribution totals more than $250, you’ll need an acknowledgment from the charity documenting the services you provided. If you drove your car for charity in 2010, remember to deduct 14 cents per mile.

  4. Student-loan interest paid by Mom and Dad. Generally, you can only deduct mortgage or student-loan interest if you are legally required to repay the debt. But if parents pay back a child’s student loans, the IRS treats the money as if it was given to the child, who then paid the debt. So, a child who’s not claimed as a dependent can qualify to deduct up to $2,500 of student-loan interest paid by Mom and Dad. And he or she doesn’t have to itemize to use this money-saver. Mom and Dad also don’t get the interest deduction since they were not liable on the debt.

  5. Job-hunting costs. If you’re among the millions of unemployed Americans who were looking for a job in 2010, keep track of your job-search expenses. If you’re looking for a position in the same line of work, you can deduct job-hunting costs as miscellaneous expenses if you itemize, but only to the extent that the total of your total miscellaneous itemized deductions exceed 2% of your adjusted gross income. Job-hunting expenses incurred while looking for your first job don’t qualify. Deductible job-search costs include, but aren’t limited to –
  • Food, lodging and transportation if your search takes you away from home overnight
  • Cab fares
  • Employment agency fees
  • Costs of printing resumes, business cards, postage, and advertising

  6. Moving expenses to take your first job. As we just mentioned, job-hunting expenses incurred while looking for your first job are not deductible. But, moving expenses to get to that position are. And you get this write-off even if you don’t itemize.

  To qualify for the deduction, your first job must be at least 50 miles away from your old home. If you qualify, you can deduct the cost of getting yourself and your household goods to the new area, including 16 ½ cents per mile for driving your own vehicle for a 2010 move, plus parking fees and tolls.

  7. Health insurance deduction to reduce self-employment tax. Business owners have always been allowed to deduct health insurance premiums for themselves and their family in computing adjusted gross income on the front page of Form 1040. For 2010, they can also deduct the cost of those health insurance premiums in calculating self-employment tax on Schedule SE.

  The IRS has hidden this write-off on line 3 of Schedule SE. On that line, you are told to add your self-employment income from lines 1 and 2, subtract the amount claimed on line 29 of Form 1040 (your health insurance premiums) and enter the net amount on line 3. Since the write-off is not on a separate line and is not clearly identified, it will be far too easy for many self-employed persons to miss unless you are fully aware of this tax break and are looking for it.

  8. Child-care credit. A credit is so much better than a deduction; it reduces your tax bill dollar for dollar. So missing one is even more painful than missing a deduction that simply reduces the amount of income that’s subject to tax.

  If you pay your child-care bills through a reimbursement account at work, it’s easy to overlook the child-care credit. Although only $5,000 in expenses can be paid through a tax-favored reimbursement account, up to $6,000 (for the care of two or more children) can qualify for the credit. So, if you run the maximum through a plan at work but spend even more for work-related child care, you can claim the credit on as much as $1,000 of additional expenses. That would cut your tax bill by at least $200.

  9. State tax paid last spring. Did you owe tax when you filed your 2009 state income tax return in the spring of 2010? Then, for goodness’ sake, remember to include that amount in your state-tax deduction on your 2010 return, along with state income taxes withheld from your paychecks or paid via quarterly estimated payments.

  10. Refinancing points. When you buy a house, you get to deduct in one fell swoop the points paid to get your mortgage. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means you can deduct but don’t throw it away.

  Even more important, in the year you pay off the loan — because you sell the house or refinance again — you get to deduct in one fell swoop all of the as-yet-undeducted points. There’s one exception to this sweet rule: If you refinance a refinanced loan with the same lender, you add the points paid on the latest deal to the leftovers from the previous refinancing — and deduct that amount gradually over the life of the new loan.

  11. American Opportunity Credit. This tax credit, which has been extended through 2012, is available for up to $2,500 of college tuition and related expenses paid during the year. The full credit is available to individuals whose modified adjusted gross income is $80,000 or less ($160,000 or less for married couples filing a joint return). The credit is phased out for taxpayers
  with incomes above those levels. This credit is juicier than the old Hope credit – it has higher income limits and bigger tax breaks, and it covers all four years of college. And if the credit exceeds your tax liability (regular and AMT), it is partially refundable.

  12. Making Work Pay credit. You’ve probably been enjoying the fruits of this credit via reduced payroll tax withholding throughout the year. But to lock in your savings–by reducing your tax bill by $400 if you’re single or $800 if you’re married and file a joint return–you’ll need to actually claim the credit on your 2010 tax return—and you’ll use Schedule M to do so. The credit is equal to 6.2% of your earned income, capped at $400 or $800. For single filers, it starts phasing out at $75,000 of adjusted gross income and dries up at $95,000. The phase-out zone for couples is $150,000 to $190,000.

  13. Credit for energy-saving home improvements. You can claim a tax credit equal to 30% of the cost of energy-saving home improvements up to a maximum of $1,500. This cap applies to both 2009 and 2010 combined, so if you claimed the maximum $1,500 in 2009, you don’t get another crack at it for 2010. The credit applies to biomass fuel stoves, qualifying skylights, windows and outside doors, and high-efficiency furnaces, water heaters and central air conditioners. For 2011, this credit goes back to pre-2009 limits (for example, $500 maximum credit for all years with no more than $200 for windows).

  There’s also no dollar limit on the separate credit for homeowners who install qualified residential alternative energy equipment, such as solar hot water heaters, geothermal heat pumps and wind turbines. Your credit can be 30% of the total cost (including labor) of such systems installed through 2016.

  Be informed and ready this year when you file your taxes and do check with a tax professional on your status before you get started.  For more information on current tax credits and allowable deductions visit www.irs.gov.

  When you are in the market for a new home, contact www.Century21judgefite.com – 800-451-8055 to get assistance from one of our qualified Real Estate Professionals.  CENTURY 21 Judge Fite Company is  Smarter. BOLDER. Faster.

Sandy Hibbard Wright, owner and creative director for Lyric Marketing and Design helps smart businesses and entrepreneurs leap to the next level in their business with innovative social media, web, email, and print  marketing.  Sandy also is Director of Marketing for CENTURY 21 Judge Fite Company in Dallas/Fort Worth and has been providing real estate marketing services to Realtors and Mortgage professionals since 2000.  Email sandy@lyricmarketing.com or call 214-208-3987 to learn more about strategic marketing and social media services that will PUSH your company to the top of your industry.

Sandy Hibbard Wright, owner and creative director for Lyric Marketing and Design helps smart businesses and entrepreneurs leap to the next level in their business with innovative social media, web, email, and print  marketing.  Sandy also is Director of Marketing for CENTURY 21 Judge Fite Company in Dallas/Fort Worth and has been providing real estate marketing services to Realtors and Mortgage professionals since 2000.  Email sandy@lyricmarketing.com or call 214-208-3987 to learn more about strategic marketing and social media services that will PUSH your company to the top of your industry.

The market we now have demands networking – meeting  people, not just other mortgage and real estate professionals, but the public!

So many things to tell you and so much of it seems like a broken record – for you young guys that is something repeated over and over monotonously – so here goes:

PAY ATTENTION TO DETAILS: Go over your offers as you write them, as you receive them on your listings.  Are there any surprises?  (For this week, make sure which form was used since TREC 20-9 was rescinded in an Emergency Session.  All is well now as 20-10 is now in Zipform ready for use.)  Take another look at your listing’s features and descriptions.  You are looking for errors (we all make them) or surprises or wording that can be read two ways.  It is our job to clear up/clean up details and to keep our clients from making mistakes.  Even if it is the Buyer’s or Seller’s responsibility, they will try to blame it on the REALTOR.  Take the responsibility to double check yourselves for your client’s protection.  Use the checklists on the Listing Control Sheet and Sales Control Sheet.  Do you have ALL the paperwork you need on this transaction???  Get it all prior to closing, please.

STAY CURRENT: The Code of Ethics says that we will only sell where we are an expert and that is HARD.  It is also our responsibility!!!  Go to classes, seminars, etc.  Did you know about TREC’s emergency session on 2/14.  It takes teamwork to stay informed, and camaraderie.  That is why sales meetings are important for us all to attend and to share information.  Clients want to know about road plans, Barnett Shale, radon-even if not an issue in DFW.  And HUD, know how to make a bid BEFORE the opportunity arises.  STAY CURRENT.

DISCLOSE: Read what Seller’s write in their disclosures.  Remember that you cannot touch or advise “how” to fill out the Seller’s Disclosure, but then READ IT.  If they have shared with you some occurrence or repair that they have recently made-maybe in the past couple of years-ask them about it, suggest they go back and add it to the Disclosure.  TAR and TREC preach that once a repair is made, that it does not have to be disclosed.  LISTEN UP:  this is where lawsuits arise.  I hear too often, “If I had known about that, I would never have bought this house.”  This is fodder for a DTPA claim with triple damages.

DISCLOSE, DISCLOSE, DISCLOSE any thing that you know that might be detrimental then explain what has been done to correct the situation.  Carefully read inspection reports, too.  I am a firm believer that repairs can be negotiated, the “deal” doesn’t have to be killed-NEGOTIATE!!!

COMMUNITY INVOLVEMENT: The market we now have demands networking–meeting  people-not just other mortgage and real estate professionals, but the public.  Mingle with them, join civic groups, Chamber of Commerce, Church, PTA, Garden Clubs, political campaigns.  Go places where you MEET people.  Start conversations, pass out business cards.  Participate in your community.  People need PROFESSIONALS  like YOU.  Don’t be a secret agent.  Be friendly, smile, welcome, VOLUNTEER.  Meals on Wheels just came to mind-the elderly will end up selling their homes eventually.  GET INVOLVED.

Risk Management with Jan Fite Miller is a monthly publication by CENTURY 21 Judge Fite Company and Jan Fite Miller, Executive Vice President.  Each month Miller explores the issues facing real estate agents and the solutions that will help “keep them out of trouble”.   Here is the online version of this newsletter  http://ow.ly/47Zxe.

Sandy Hibbard Wright, owner and creative director for Lyric Marketing and Design helps smart businesses and entrepreneurs leap to the next level in their business with innovative social media, web, email, and print  marketing.  Email sandy@lyricmarketing.com or call 214-208-3987 to learn more about strategic marketing and social media services that will PUSH your company to the top of your industry.

Diversity is one of the things that make us thrive as a society.  However, being a diverse society means that our “needs and wants” also vary greatly from person to person, and this shapes the lifestyles that we pursue.  In pursuing these lifestyles, people’s exposure to risk also differs from person to person.

The person who lives downtown in a high-rise condo needs different coverage than a person who lives on a farm.  The person who lives next to a golf course needs different coverage than someone who lives on lake-front property.  New homes need different coverage than older homes.  And when you get in to the world of commercial insurance, exposures get ever more diverse!  Think about all of the exposures of a construction company versus the exposures of a hair salon.

Because of all of these differing exposures that the public faces, many insurance companies have decided to specialize in certain niches, and have subsequently designed policies specifically created with a certain group in mind.  For instance, some carriers specialize in farm and ranch insurance.  Their underwriters know all about insuring livestock, crops, farm equipment, structures on the property, and other exposures that may be specific to a person living or working on a farm.  Their policy is specific as to the needs of the insured and provides better coverage than a standard policy.

When selecting coverage for your real property, be very careful about the limits you insure it for. It may appear to make good economic sense, but in reality your purchase price does not reflect the replacement cost for damages or total replacement of your home, business, and/or personal property.  Always make sure to have the correct limits in place to cover you in the event of a total loss.

There are two types of insurance agencies in the marketplace today.

Direct writers are agents that work directly for the insurance carrier, and they only quote and issue for that one carrier.  Independent agents are those that do not work directly with one particular carrier, but instead choose to represent multiple carriers.  This gives them the flexibility to be able to shop the market for the right product that meets a client’s needs.  If multiple carriers are a good fit for a certain risk, then the agent can shop for the best priced policy.  Also, if one carrier says they do not want a certain risk, independent agents can shop for another carrier.  When it comes time for renewal, if the renewal rate increases too much, an independent agent can move the policy to another carrier that may have better rates that year.

Independent agents can offer a wider variety of products and therefore can entertain a wider diversity of clientele than a direct writer.  At Judge Fite Insurance Agency, we know that our clientele is a diverse group.  We are confident that we have better solutions for you that will meet your needs at the best possible price in the marketplace.  Judge Fite Insurance Agency works with over 40 insurance carriers to offer a variety of products to fit everyone’s lifestyle. Now that’s diversity in coverage!

To get a quote on your home, auto, or business, or if you would like to have your existing coverage reviewed, please contact Judge Fite Insurance at 214-446-2572 and ask for Linda, or visit our website at www.JudgeFiteInsurance.com

ATTENTION REALTORS and MORTGAGE PROFESSIONALS:

This is the perfect time of the year to reach out to your database and share your knowledge on Homestead Exemption.  Here is an article I wrote regarding the Texas Homestead Exemption, brush up on your state laws and use this info to remind your clients it’s time to file!

What is “Homestead Exemption”?

As you are clearing the clutter and getting your finances and tax information in order. One very important “to do” NOT to forget is the Texas Homestead Exemption. If you have not previously filed your homestead exemption, now is the time!

Although you have probably heard the term “homestead exemption” you may be a bit confused about what it is and how to take advantage of it. Here is some information that is sure to help:

Important note: Do not confuse the Texas Homestead Law with the Homestead Tax Law. The Homestead Law is created by the Texas Constitution, and no filing is required for it.  It cannot be waived by contract or even a change in the state law.  Every property owner and leasee has homestead protection (with certain restrictions, of course). For information on the Texas Homestead Law visit www.bit.ly/txhomestead.

The Texas Homestead Tax Law – or “homestead exemption”, allows a homeowner to apply for homestead tax exemptions on your principal residence. Homestead exemptions remove part of your home’s value from taxation, so they lower your taxes. For example, your home is appraised at $100,000, and you qualify for a $15,000 exemption (this is the amount mandated for school districts), you will pay school taxes on the home as if it was worth only $85,000.

To qualify for the homestead TAX exemption, the homeowner must own and live in the property as a principle residence on January 1st of the tax year.  And, the homeowner must submit a homestead exemption application to the appropriate appraisal district between January 1 and April 30. The law now says that if this was overlooked, the homeowner can file in any year of ownership, and the exemption will revert back one year.

You may be wondering “do all homes qualify for homestead exemptions?” No, only a homeowner’s principal residence qualifies. To qualify, a home must meet the definition of a residence homestead: A separate structure, condominium or a manufactured home located on owned or leased land. The home’s owner must be an individual (for example: not a corporation or other business entity) and use the home as his or her principal residence on January 1 of the tax year. (If you are age 65 or older, the January 1 ownership and residency are not required for the age 65 homestead exemption.)

There are several types of exemptions you may receive (for the details be sure to check out the offical site here):

* School taxes (this is the “general homestead exemption”): All residence homestead owners may receive a $15,000 homestead exemption from their home’s value for school taxes.
* County taxes
* Age 65 or older and disabled exemptions
* Optional percentage exemptions
* Optional 65 or older or disabled exemptions

Filing your Homestead Exemption

You can file an Application for Residential Homestead Exemption with your appraisal district for the $15,000 homestead exemption up to one year after the taxes on the homestead are due. Click here for the form. Once you receive the exemption, you do not need to reapply unless the chief appraiser sends you a new application.

Filing Deadline

You can file any homestead exemption up to one year after the delinquency date. The delinquency date is normally February 1st. If you are 65 or older or disabled, you qualify for the exemption on the date you become 65 or become disabled. To receive the exemption for that year, 65 or older or disabled homeowners must apply for the exemption no later than one year from the date you qualify or one year after the delinquency date, whichever is later. If you miss the deadline you may apply for the following year.