In part four, we discussed the different local credit unions and how their Health Savings Accounts work. Now, we’ll discuss how to select the best credit union based on brokerage account services.

A brokerage account is like a money market account, but from it you can buy stocks, sell stocks or buy mutual funds.So it’s like a health savings account except the money is for investment or portfolio items. Like an HSA, there’s a firewall. The reason – credit and the bank should remain separate.

For example, if you are on your  JPWellsComeriBank account online and want to look at your brokerage account, the website will open a new window and take you to that separate brokerage website. With Desert Schools Credit Union, they will personally connect you with a financial services company who will set up your account services, etc. You can set up your account on Desert Schools to make automatic bill pays to your brokerage account, as well. Though you still must login to the brokerage accounts from a different website than your Desert Schools website. The two businesses are separate, but they are more integrated on a personal level.

When I called Desert Schools Credit Union, I was directed to financial services, and spoke with a representative immediately. He told me about what they had, that he’d look at my portfolio, and help me get the changes set up from my national bank. Now, when I did this over at Arizona Federal Credit Union, they directed me to a woman named Stephanie. I left my number for her, but she never called.

From the perspective of a small business owner, credit unions are all  basically the same. They have the same fee structure and basically the same offerings. The thing that really differentiates one credit union from another one is customer service. If I own a business, I want my banker to be on the phone and someone who knows me. Why am I leaving JPWellsComeriBank? Because they’re a big anonymous bank. While the fee structure among different credit unions are nice, as well as the integration of health savings account, they’re not critical. The bottom line for me: What was their customer service like?

In wrapping up this series on credit unions, we’ve taken a close look at the difference, we’ve examinatined them in person, we’ve compared the pros and cons. I can sum up the most satisfying part of this process in one example which really captures the essesnce of why I left a big national bank for a local credit union.

The story goes like this:

I went into Wells Fargo to take out my money for the last time and the woman assisting me asked, “Why are you leaving us?”

“Two reasons:” I told her. “I’ve waited too long to put my money where my mouth is and I’m finally going to support a locally owned bank. When I use my money at locally owned businesses, 30% of my money stays in the local economy.”

“But Desert Schools doesn’t have very many ATMs …”

“Are you really playing the ATM card card?”, I asked her, “You know that doesn’t matter. I can just take money out from a cash advance at the grocery store.”

Her response?

“Oh, yeah, I guess so.”

So, there we have it. I thought this process would be longer and more difficult. In some ways it was, but in most ways it is really easy to mover your money to a locally-owned credit union and keep your money where your state is, so to speak.

Good hunting!

Houses are being scooped up really quickly right now.  This is no exaggeration: good homes are selling within 24-48 hours now. I’ve seen how frustrating it’s been for some of my clients when they don’t get the properties they offered on.

So… Here are five things that I am asking my clients to do to increase there chances of getting the property that they want. (There are other things, but I can’t give away all my trade secrets!)

1.  Check MLS in the evening, rather than the morning.

Most agents don’t get up early and post new listings. They do it at night. I try to check for new listings in the evening for this reason. If you see something you like, shoot your Realtor an email.

2.   Look closely at the neighborhood on the Internet before visiting the property.

If you are looking at one property in a neighborhood you don’t like, you might miss another property that you do like. So, let’s use the Internet to our advantage. Type the address of the property in to Google Street View and have a look around. We agents already have an opinion of the neighborhoods that we know. But we can’t always predict what you like.

3.  View the property within hours of identifying it, not days.

My “Get Your PHX Team” is adapting to the market conditions. When a property comes on that one of my clients wants to see, the member of our team who is available immediately will try to get them in to see the property, quickly.

4. Have your prequalifcation letter or proof of funds ready.

Realtors cannot show properties unless the buyer has all their financing sorted out. In this market, we need to make decisions in hours. Further, sellers want to verify the buyer’s purchase method. So, everything has to be ready to go.

5. Print/Scan/Fax

These days, we are allowed to sign contracts, then scan or fax them. For this reason, I have my team carry blank contracts to a property in case a buyer wants to make the offer immediately. However, if we don’t write a contract on the spot, we may need the buyer to print/sign/return documents quickly. If a buyer doesn’t have this capability at their office or home, it’s important for them to let us know before we view properties.

The rush that we Realtors feel in this market is frustrating. We understand that nobody likes to feel pressured. Yet, we want the buyer to get what they need and we sincerely appreciate their patience and accommodations. By doing these five things, we are more competitive in getting buyers the property they want.

[image: woodleywonderworks]