Revenue Diversification: The Antidote to today’s low-yield loan interest rates

first_imgIt’s no secret that auto loan yields are at low levels due to industry-wide low interest rates. According to the NCUA, the national average for a new vehicle loan with a 48-month term was 2.58%, as of December 2015. However, Forbes recently found a financial institution offering vehicle loans for 0.74%. While there has been some news on interest rates rising, the reality is that today’s competitive marketplace is clearly keeping rates in a low holding pattern.The good news is that loan origination volumes are increasing in this low-interest-rate environment. The bad news, of course, is that financial institutions are experiencing low overall revenue yields. In the worst-case scenarios, financial institutions are wondering how they can continue to survive in this market.However, many financial institutions have already discovered the key to keeping their revenue on track. They are diversifying their income stream with fee-based products. In fact, in a marketplace with ongoing large and small financial swings, the best long-term strategy is income diversification.This philosophy relates to the old adage: Don’t put all of your eggs in one basket. With the right mix of interest-earning and fee-based products, financial institutions gain the benefits of both worlds. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

There can be plenty of tyre kickers when you list your home for sale, how do you spot a serious buyer?

first_imgHaesley Cush says there are six signs which reveal just how keen a buyer is on your home.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach Northless than 1 hour agoNew apartments released at idyllic retirement community Samford Grove Presented by So what we did was review all the activates that the buyers who did bid, do prior to the auction.This is what we found. There are about six things that a serious buyer does prior to bidding at an auction. If your buyer is doing these then there’s a good chance that they’re going to bid.A nice early indicator is the buyer calling your agent independently. When a buyer calls the agent, it’s a gentle buying sign at the start of the relationship.If they want to buy it, they’re going to need to step forward.So you may have a nibble. But its what comes next that can tell how serious they really are.At the top of the list was that they made an offer. A buyer who commits to signing a full offer on a contract is a serious buyer.Next, they have invested in some due diligence. Not just walking around the house talking notes, they had a valuation, got a building inspection or conducted a body corporate search.If the property was an auction, they tried to vary the standard terms. It surprises many buyers, and unfortunately a few agents, to know that you can vary the terms of an auction. If an owner is agreeable, you can have a lower deposit or a longer settlement. When a buyer needs different terms it means they have thought about how they are going to pay for the property and when they are going to move in.Next, if an agent can tell me how a buyer is paying their deposit eg bank cheque or EFT, then I know they have had a personal conversation about something as private as the buyers money.If your agent knows how the buyer is paying their deposit, this is usually a good sign too.Finally, if the buyer pre-registers for the auction, that is a great sign.When a buyer registers for an auction, it doesn’t mean that they are duty bound to attend, but they would have needed to provide a copy of their drivers license and signed a legal document.Most people won’t waste their time if they don’t plan on at least turning up.At the end of the day I’ve had buyers turn up who I’ve never seen before and people vanish who I would have bet the house on. There are no guarantees.But if you have a few buyers doing the activities above, your campaign is heading in the right direction. How do you tell if a buyer is serious or a tyre kicker?HOW do you know when you have a genuine buyer or you’re dealing a tyrekicker?I get asked this question quite a bit and sometimes the answer is not what you think.Back in the late nineties when we were doing less open houses and more privateinspections, you got to pick up the scent a little easier. But as the market has moved toward open houses and we as consumers seem to prefer less initial engagement with salespeople it is getting harder to know who the real buyersare.One of the real surprises is that the number of times a buyer inspects a property is an indicator, but not always for the reasons you would expect.Experience has taught me that if a buyer inspects a property two or even three times then they are interested. But any more than three, its usually a bad sign.When an agent says to me, they love it they’ve inspected five times I start toworry. They are usually either trying to convince themselves to buy it or they are looking for a reason not to buy it.After the Global Financial Crisis I would turn up to auctions, ready for battle and the agentwould brief me on the number of prospective bidders. “We’ve got about four bidders Haes,” they would say. I would then commence proceedings and lo and behold no one would bid. How did they get the name ‘bidder’ I would think?!?last_img read more

Fundraiser attracts $43,000 to distribute shirts supporting Hong Kong protests at Lakers-Clippers opener

first_img Newsroom GuidelinesNews TipsContact UsReport an Error LeBron James might be done commenting on the matter, but the issue could come before fans attending the season-opener between the Lakers and Clippers on Tuesday at Staples Center, where activists plan to hand out free T-shirts displaying support for the Hong Kong protests.A GoFundMe fundraiser online — “Give Away Hong Kong T-Shirts, NBA Opening Night” — set up Oct. 7 by an NBA fan in Northern California raised nearly $42,994 in a fewer than two days.That amount will pay for more than 10,000 shirts, according to organizer “Sun Lared” (the pseudonym that the fan is using on the GoFundMe page), who stopped taking contributions as the fund drive approached $43,000.The Clippers, who will be the home team Tuesday, also have a T-shirt giveaway planned, with all fans in attendance expected to receive a free “L.A. Our Way” shirt and LED wristband. The international firestorm involving the NBA and China began Oct. 4, when Houston Rockets General Manager Daryl Morey tweeted support for the pro-democracy demonstrations in Hong Kong. That sparked outrage in China, where the Lakers would play a pair of exhibition games with the Brooklyn Nets. Nearly two weeks later, reverberations continue as the league and its players navigate a range of interests.In an online voice call earlier this month, “Lared” said that although he has friends and family in Hong Kong and is sympathetic toward the protest movement there, he’s accepting that there are varying viewpoints about the unrest.It’s his opposition to censorship that inspired him to run with an idea he saw online about making the T-shirts. A similar GoFundMe campaign in Canada was capped after it raised more than $34,000 for a T-shirt giveaway at Scotiabank Arena in Toronto on opening night.Gabriel Law is among the supporters of Lared’s T-shirt giveaway in Southern California. After learning of the project, he got in touch with “Lared” and is helping with plans to store, transport and distribute all those T-shirts to L.A. Live. It will be a complicated but fulfilling endeavor, said Law,“This touches on really central American values, freedom of speech,” Law said by phone last week. “I’m here in the U.S., but I’m starting to sense I can’t do certain things because someone in another country us doesn’t want me to do it. Where do we draw the line?center_img “I think the NBA, unfortunately, has crossed the line in that case. China is a huge market, no one’s going to deny that, but if you look at global trade, this is a new kind of problem.”Law, who is active with Hong Kong Forum, Los Angeles, a nonprofit formed in 1990 to promote democratic development in Hong Kong, said he was somewhat surprised by how quickly the money was raised, but not by the amount.“People in Hong Kong have raised millions of U.S. dollars for the past three, four months to advertise in newspapers, they’ve raised money to put up billboards around the world, so as soon as they know of this, they are going to support it,” he said.Despite reports of a fan being escorted out of preseason game in Philadelphia for saying “Free Hong Kong,” and a pro-Hong Kong sign (held by fans in “Free Hong Kong” shirts) being confiscated at a preseason game in Washington D.C., Law said he didn’t anticipate any trouble at Staples Center once they get the shirts there.“Are security guards going to kick us out?” Law asked. “We don’t think so, because we’ll be on public land. What if police kick us out? That should not be a problem because we are not selling things.”Furthermore, Law said, “we encourage the fans to put on the shirts. If five people put on the shirts, then they have a chance to be kicked out. If 500 people put on the shirts, they cannot kick everyone out. Five thousand? That, for sure, is a message for the world to see. And that’s our hope.”last_img read more