Archives of real estate blog entries for October 13, 2006

Featured blog posts


WHAT IS A BUYER'S AGENTS' DUTY OF FIDUCIARY?? - 09:44 AM
My recent post of 10/12/06 WHY DOES ANYONE TAKE THE ADVICE OF THE PRINT MEDIA, ANYWAY, prompted a reply from a mortgage lender that he agreed with the media that home buyers should NOT get referrals for their mortgage loan from their buyer's agent.  A further suggestion was that home buyers should get advice about whom to finance their Maryland or Virginia home purchase from a "financial advisor, a stockbroker, financial planner, accountant, etc."GET A MORTGAGE LENDER RECOMMENDATION FROM A FINANCIAL ADVISOR, FINANCIAL PLANNER,STOCKBROKER OR ACCOUNTANT??Perhaps home buyers in California where the lender is located have a relationship with a financial … (33 comments)

Targeting Popular Search Terms - Bad Idea? Perhaps... - 10:54 AM
I continually meet folks that assume popular search terms are the holy grail of web marketing success; they couldn't be more wrong. It's possible that in the history of mankind there's no other subject that more people are wrong about at the same time. ;-) [tongue-in-cheek of course]
While it's smart to look at popular [historical] search terms that search engines are capturing, have you considered the possibility that popular terms are (by definition) terms that don't lead to actionable business? Take a moment to ponder just two things:
How people use search engines;How popular terms data is calculated.Let's start with how people use Google for example … (20 comments)

Billboards and poor marketing - 04:25 AM
OK, so I am on a marketing kick today! You know what drives me CRAZY?!? Poor marketing. Next time you are driving around, especially in SW Florida, look at the Billboards these companies are putting up. There is two in N Ft Myers for a certain development (around hancock and 41) that has the name of the developer and an arrow pointing but no website, email address and heck, I think maybe even no phone number! Check out the one on College parkway and US 41 of a mortgage company, again, no website! Now, I have checked into billboards and they … (19 comments)

Do Lenders Have a Fiduciary Responsibility to a Borrower? - 09:44 PM
I have been enjoying this banter about fiduciary capacity in the real estate transaction as it related to lending.  Clearly, this has been a fun "academic discussion" for me today and probably a pain in the patootie for many other posters in the Active Rain Real Estate Community.
A brief history:  Lenn Harley wrote a nice blog yesterday about The Evil Press. Normally, I would agree with Lenn that members the press are drama seekers with a lack of imagination and an inflated sense of self-importance.  Actually, I retain the opinion about the press.  In this instance, Lenn paraphrased an article about … (24 comments)

My Sellers are not grapes! - 05:32 PM
Ok, so I spent the day showing properties. This, I have to say, is one of the things I hate most in life. I avoid it all costs. Realtors have made tons of money off of Buyers that I hand over to them. But today was special. I was with Sellers, of mine, who are needing to downsize and I wanted to give them an idea of what they can buy for less than $100,000. So not only did I spend all day showing listings but I was showing manufactured homes. This is something I have never done. The whole purpose … (39 comments)

Mortgage Interest Tax Deductability - What Are The Limitations? - 03:43 PM
Ok, I know I am not a tax advisor per se, but this is one area that I know a lot about since it is a huge part of my profession.  I am willing to bet though, that none of you (well there might be a few) have thought about this topic and that they may be taking too much of a deduction.
Let me explain...
Mortgage interest is deductible in two main ways, but primarily limited to your priamry residence and qualifying second home.  One is acquisition indebtedness and the other is home equity indebtedness.  Failure to understand these definitions may have … (14 comments)

Friday the 13th Closing: "The Final Chapter" - 11:07 AM
Okay, so today I close on what has been a fairly trying and, at times, scary transaction. I represented a Navy family with orders to San Diego. He had already moved down to his new duty station, and she was left to sell the house on her own with two young and extremely active children. She was referred to me by another Navy couple I had worked with a couple years ago.
Mrs. San Diego was wonderful to work with. Although she was the consumate worrier and called me 3 or 4 times a day with endless questions and concerns, she trusted my opinions … (39 comments)

CLUE Reports--A Question - 05:59 AM
Yesterday in our sales meeting, a new topic was brought up:  CLUE reports.  I say new, because though I have read about CLUE reports on-line for a while, they are not commonly used in real estate transactions in Michigan.
For those of you who aren't familiar with CLUE reports, they show the history of insurance claims on a property.  Coincidentally enough, Jay Thompson, has posted about CLUE reports today on ThePhoenixRealEstateGuy. Jay's post is an excellent overview of CLUE reports, how to use them and how to obtain one. I highly recommend reading it.
I found it interesting to learn that in AZ, … (47 comments)

Stop Saying “Search the MLS!” - 02:09 AM
In browsing the websites of Annual Rain members for my blog on how to brand yourself, I found that many still have a link that says “Search the MLS,” or similar wording. Stop saying so! Here’s why. As Lenn Harley pointed out in her blog “Put yourself in the buyer’s shoes,” the Internet-empowered buyer does not think he needs us.

Don’t reinforce that (mistaken) impression! If the buyer can search the MLS why does he need you? People have called me to show them a home they had found on the MLS and when I told them it had just sold … (25 comments)


Blog posts


How do you brand yourself? - 01:48 AM
In response to my blog about the value of brands Sharon Simms asked in her comment: “Very useful information… what have you been using to brand yourself in the real estate business?” Before I answer Sharon’s question let me list the basic choices a real estate agent has for developing her/his brand.
Broker-centric, broker-endorsed (or divorced)Individual Personality (ego)Unique Selling Proposition (service, price, niche, etc.)Geography (Location) Here is how these choices are represented on my main website, GNAde.com.

1. GeographyThe most prominent visual element is the scenery of the Seattle area. “Relocation” is part of my business definition and this is … (3 comments)

Stop Saying “Search the MLS!” - 02:09 AM
In browsing the websites of Annual Rain members for my blog on how to brand yourself, I found that many still have a link that says “Search the MLS,” or similar wording. Stop saying so! Here’s why. As Lenn Harley pointed out in her blog “Put yourself in the buyer’s shoes,” the Internet-empowered buyer does not think he needs us.

Don’t reinforce that (mistaken) impression! If the buyer can search the MLS why does he need you? People have called me to show them a home they had found on the MLS and when I told them it had just sold … (25 comments)

TOP TIME-MANAGEMENT TIPS - 12:25 PM
 
Because Realtors are (hopefully) very busy, it is good to look at time-management tips--it seems there are always new ideas coming up.  I was reading REALTOR® Magazine-Online and found a tip that would be especially helpful for me.  "Capture Ideas on a Voice Recorder," this suggestion was by Nicola Barr, Prudential New Jersey Properties, Basking Ridge, N.J.:  
"When I'm out on appointments I carry a small voice recorder. As I get calls on my cell phone while driving, or when I think of things I need to do, I simply record a quick message, which I transfer to my schedule … (0 comments)

IT IS SOON TIME TO VOTE - 01:21 PM

I just received an email and the following is a portion of it:
How Do the Candidates Stand on Real Estate Issues?
Brought to you by the Seattle Association of REALTORS, the General Election REALTOR Voting Guide shows you the results of candidate interviews - candidate ratings and endorsements - based on real estate issues crucial to your business and profitability.
The REALTOR Voting Guide should be arriving by mail in the next couple of weeks. You can also view it online at www.nwrealtor.com or by clicking here.
Visit www.vote.wa.gov for more information regarding voter registration.
I believe we should get as much … (1 comments)

REALTORS® AND LENDERS CANNOT PAY FOR LEADS FROM EACH OTHER - 10:53 PM

I was just going to leave a comment on Scott Gormley's Blog "Sale-of-mortgage-leads," but because he was getting so many comments back, I thought it was something that everyone needed to hear.  I called the Legal Assistance Hotline and asked if it was legal for a lender to sell leads to a Realtor.  Since this is RESPA, it looks like it applies to all of us.  This is the major part of the email I received back:
The Legal Assistance Hotline is part of W.A.R.'s Education and Member Services Departments.  It is intended to help keep its members abreast of legal developments … (2 comments)

Combating the SPAM problem - 03:46 PM
We are currently working as fast as we can to battle the spamming problem that has seemed to pop up on this network in the last week or so.  There will be several updates going up today to help with this problem.  This may cause a few minutes of down time throughout the day.
A couple of members have been permanently BANNED for using the system to send unsolicited emails.  This is not something we take lightly and we will deal with the problem in the best manner possible.  If you want to network with other members, sending unsolicited emails is not a … (44 comments)

Important Milestones in Real Estate Blogging - 12:19 PM
Back in May I said it was just a matter of time before the real estate world woke up to the power of blogging and while we’re not all the way there yet, I thought it might be interesting to see just how far we’ve come.

Some milestones, as I see them: Click Here
… (3 comments)

Beer and Wine Coming to Richardson? - 07:48 AM
The petition to add a Beer and Wine vote to the November election was sucessful!  Richardson has been "dry" for way too long.  Dallas to the south is mostly full wet which means the majority of Dallas can sell Beer, Wine and Liquor.  Plano to the north is "moist" which means it can only sell Beer and Wine.
For years, Richardson residents have always had to plan a drive in order to get Beer, Wine, and/or Liquor.  Hopefully, those times are coming to an end.
The vote has the basic stuff like they can't sell within a certain distance of a school or … (2 comments)

New Ordinance for Sex Offenders - 08:45 AM
Come November, people in Richardson, TX will be voting on a new ordanance for registered sex offenders and where they can live.  The debate is whether or not the boundary should be after 1000 feet of the "premise where children commonly gather" or after 2000 feet. 
If you spread it out past 2000 feet, you limit many many areas as Richardson has many parks and schools.  Either way the vote goes, my immediate area is "safe", but if they only need to be 1000 feet away, part of the southern part of my community would be a place of interest.
Overall, right … (3 comments)

SEO, to hire a pro or go FSBO? - 04:22 PM
Real estate agents spend so much time and effort explaining why to hire an expert to sell your home yet we turn around and FSBO our own SEO efforts. I am guilty as the next person on this one and it took me over 2 years to realize that my time might be better spent selling homes.If I was an agent that had little to no knowledge in SEO then there is no way I would try and work on my own site. Knowing what I do and how long it took to learn it and how may hours have been … (19 comments)

Hoover Dam bypass - 03:57 AM
Can the building of a bridge change your market?  If you live in Arizona near the Nevada border, the answer is yes it can.
Shortly after the plan to build a 2,000 foot bridge to allow traffic to bypass Hoover Dam builders started buying up property on the Arizona side.  The bridge is a result of tightening security around the dam.  Each day hundreds of trucks cross the dam delivering goods to Nevada and Arizona. Real estate agents are already incorporating the bypass in their marketing.  Several new communities are planned, promoting making the commute from Arizona to Las Vegas to work. … (1 comments)

Other Advertising Venues - 04:09 AM
Today we went to the movies at a local casino and saw The Departed. Expect to see it nominated for several Oscars.  For whatever reason, the movie was running late. Five minutes turned into ten, then turned into fifteen. Finally I (and another gentleman as well) went looking for someone to start the darn movie. Here in Las Vegas, they have a slideshow going before the actual movie previews and the film.
One of the slides they kept showing was advertising information. So I started wondering if it was really effective for any industry other than films.  Has anyone put up an … (1 comments)

Attack of the Clones! - 11:56 AM
Its inevitable. When ever there is something new and successful on the internet, someone is going to copy it in at least some way. The site is homeValuationsCanada.com, a cross Canada site that give homeowners appraisals of their home, just like Zillow. Unlike Zillow, the site sticks primarily to online home appraisals and charges a fee.  The site even touts "Why $300+ for an intrusive physical appraisal when you can get an automated one for a 10th of the price?"  The site covers the provinces of Ontario, Alberta, Manitoba, Quebec and Nova Scotia.
Now, I don't see how in the world that will work … (6 comments)

20" of Snow in The Great Lakes - 06:33 AM
Good News for Florida!   We should be seeing those buyers very soon!    It appears that season is about to begin......
Ok, my family in Buffalo -- not very happy this morning...   Me this is a sign that things are going to get better!   Once the cold hits, the serious buyers are on their way!
Have a great weekend, I am off to network and see some property on beautiful Marco Island where the temp is a lovely 78 degrees this morning and it looks like we will have another sunny day here in Paradise!
 
     
… (12 comments)

What is "Web 2.0"? - 01:21 PM
Will somebody please give me an explanation please? … (7 comments)

How are you attracting Buyers in Todays Market? - 03:05 PM
There has been some great discussion on AR lately of implementing the end-user side of the network for the benefit of all AR members. Once the consumer finds AR as useful and rewarding as we have, they'll be no end to the amount of valuable business and referrals we'll enjoy. I'm looking forward to how Matt has interpreted everyone's ideas (who contributed) and what the final product will be.
What I'd like to know from you seasoned experts out there is what are you doing in your marketing efforts to attract more buyers?
How do your buyers find you?
Are they call-ins through your … (2 comments)

What is your Quest? - 07:21 PM
This blog was inspired by "The Lovely Wife's" Impossible Dream Blog .
What is your Quest in Life? And how does Real Estate help you get there.
Is the career of Real Estate your Quest or did you decide to do this because of something you wanted to attain?
What do you expect to get out of Real Estate? And have you gotten what you expected.
And "are you happy?"
… (10 comments)

I have been very lucky! - 10:10 AM
My friend Toby Davis in Charleston, SC, sent me a story that really hit home - gave me one of those "Ah Ha!" moments. At the same time, it reminded me about what it means to be lucky in real estate or in anything you do in life.A teacher told his class of pottery students that he would grade half of them on the quantity of pots they produced, and the other half on the quality. In the "Quantity" group, it didn't matter how good or bad their results, only the total weight of pots they created would count. For the … (6 comments)

AR Members Invited to Call In Sunday 12noon - 09:30 PM
… (3 comments)

IDX Solutions - 05:07 PM

What idx solutions do you use?  I am considering changing mine and have looked at wolfnet a company out of Minn.
and a few more from ads I have recieved via e-mail.  If you are using one that you find very successful please share the name of the company with us.  I am looking for a solution that will let me drill down to specific neighborhoods with live links to all listings there.  Any suggestions appreciated.
… (5 comments)

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