An offer comes in and it calls for possession at close.  Your seller currently occupies the property.  What are your options, what are the flaws that can occur?

Risk of giving possession of the property at close, many factors to consider.

• Seller loads up a moving truck, has the utilities turned off and the home does not close on time, or just does not close.
• Closing of the seller's next home may delay and they are left homeless.

Risk to the buyer if the seller remains in the property after close and leases back for a short period of time.

• Seller does damages property in the move.
• Buyer does not have the opportunity to see the home vacant and do a proper acceptance of property walk though.
• Property is left dirty with debris.
• Seller delays or does not move out when is to vacate and give possession.

Risk to the seller if they lease back the property after close.

• In Texas the seller is still responsible for repairs until they turn over possession. 
• Can be accused of damage to the property that was created by the buyer when he moved.
• If have security deposit, getting the funds back.

Some safety nets that can be put in place is to have a walk through before and after the seller leaves the home with a property condition check off.  Have a security deposit from the seller if they lease back.  Communicate some concerns and have an upfront agreement on how things are to be handled.

Even the most smooth transactions can develop problems which can detract from the good experience.  Explaining all the risks and letting the informed parties make a business decision on how they negotiate and accept the question of possession of the property.

When posed the question ... what do you recommend by the seller what would you say?

Just got a text message that read "Hey are you guys ready for a glass of wine this weekend?  Let us know if you are available?"  Now that just sounds great but who the heck sent that message?  Not in my contact list, not sure if the message meant my husband and me or with my assistant.  We had just closed on a very lengthy transaction which took over four months and all had promised to celebrate when it finally closed.  As a last resort I will call the number but had hoped to uncover the mystery prior to calling.

Text messaging looks like this form of communication is becoming more of a priority over the phone call and even email.  A survey conducted by the 2008 REALTOR indicated that 35% of real estate practitioners use text messaging on a daily bases and those number seem to be increasing. 

If you are a Text Message User then consider these etiquette tips:

•  Don't assume the party you are texting recognizes your number or has you in their contact base.  Unless you know for certain, leave your name. (Would have been great in my case).

• Ask your client if they prefer email, text or telephone communication for updates?  If they say text messages then ask them to put your name in their cell phone contacts.

•  Be respectful not to over text as the client may not have unlimited text messages or confirm this heavy use is acceptable to the client.

•  Abbreviations ... not everyone knows text language.  Be considerate that one may not understand LOL, BTW, QQ, etc.  If your client uses abbreviations you are not familiar go to www.webopedia.com for additional help in breaking the code.

•  Don't be an addict on the text messaging as the only source of contact.  Remember that this is a relationship business and look to connect on occasion personally with the client.  A voice conversation not typed. 

• Respect others time and don't text at odd hours, keep it within business hours.  Phones make noises when messages are received and your client may have the phone by the bed stand.  You will receive points for a message at 2:00 am.  

•  Don't be a slave to your phone; you do not have to respond if a message comes in well after your business day concludes.  Keep your response time within reasonable hours as well.

Texting - embrace it as it looks like it will be more and more part of our business.  Just remember to use etiquette and others will give you the same respect.

The recent spotlight on the mortgage industry and the practices of appraisers has resulted in some over the top knee jerk reactions that Realtors need to be prepared.  Appraisers have been scrutinized and some have faced ridiculous requirements from underwriters and been dictated how they are to prepare their analysis.  Fasten your seat belts; we are in for a long and bumpy ride!

An appraiser went out to a home with a gorgeous larger highly treed lot with a creek amenity.  Very private setting and truly a premium in the market.  The home also had a second story gameroom and bathroom amenity which the appraisal district had not reflected as living area on their tax records.  The second story was all original construction, consistent in material finishes, normal stairs leading to the area, ceiling height was consistent with the level of the first level.  The appraisal district simply had not properly record this option on the floor plan when the home was built.  The homeowner was refinancing the home.  When the owner received word from the lender that the home did not appraise the owner inquired about the appraisal report and got a copy. 

Reviewing the appraisal report the owner found that the appraiser did not count the second level in the living area or any value.  There was no view premium assessed as well.  When politely confronted regarding these two items the answer the appraiser gave was alarming.  No comparable sales were present over the last six months that had a similar view so no value could be given.  The second level was not on the Appraisal District's records; therefore, he could not recognize it.  I got the call after this input.

This clearly is poor judgment and flawed and inaccurate thinking of the appraiser.  So views such as the above pphoto would receive no consideration if there are not any recent sales?  If a home fronts a major highway would this is ignored as well if there were not any recent sales?  Living area not included because of an error by the Appraisal District?  I would dismiss this as a very poor report performed by an incompetent appraiser but I am told by other appraisers that do quality reviews that this type of thinking is becoming more and more prevalent.  Afraid to adjust especially in a positive direction because no recent sales exist. 

What has happened to good investigative analysis to determine premiums and common sense regarding proper reporting?  Are all the recent changes and microscope reviews keeping appraisers from doing good accurate work?  Will the more conservative underwriting override accuracy of reports and create difficulty in our selling process?  Realtors beware and be prepared. Rridiculous... unfortunately no one will find this humorous just one more obstacle for us to hurdle. 

When you list homes and work with buyers the opportunity on occasion will present itself, both sides of the transaction.  Such is the case for me, I have a home listed and received a sign call that developed into an interested buyer.  What a fantastic opportunity but one that needed to be treated with caution.

 In the state of Texas we have the ability to work on both sides of the transaction through what is defined as Intermediary Relationship.  There are many responsibilities of this relationship but one clear defining line; you must act as a mediator for both parties, no advice regarding negotiation decisions.  You also cannot share any confidences and you must respect the price the seller has the home listed with no suggestion of the value being less.  All parties must agree to this relationship and advised of their other representation choices (buyer & seller agents).  

This is a very difficult balance responsibility when you are on both sides of the transaction.  As an agent you have a responsibility to self reflect as to your comfort, knowledge level, ability to strictly adhere to the responsibility of this type of agency.  Also this is probably one of the top reasons lawsuits develop over this form of agency and the perception of how the agent professionally handled the transaction. 

Initially when the opportunity knocks you feel a moment of celebration, commission counting in your head, etc.  Step back and reflect ... are you informed and experienced enough to properly handle this type of transaction?  If there is any moment of a deep breath and hesitation then you best refer one of the parties to be independently represented by another agent.  Make sure both the other agent and the party interview each other for comfort and acceptance.  Sometimes that separation of relationships is absolutely the right thing to do.   Also you need to keep your broker in the loop for counseling, appointment of other agents, etc.

 Understand what your state law allows, what your agency stance for what agency types are permitted and become very well informed and comfortable with your professional responsibilities.  This is a very sensitive and debated topic in our state for a good reason ... watching out for the best for our consumers.

What side of the fence do you feel is best or are you in the middle?

A question I get at least once a week.  A huge pat on the back for thinking in terms of adjustments and not a price per foot.  To properly answer this question I would need to ask additional questions.

• What price range home?
• Describe the pool, is it a gunite, diving, play pool, have a spa?
• Age of the pool?
• Condition of the pool?
• Features (water fall, fountain, etc.)
• Construction ... does it have stone surrounds, aggregate decking, etc.?
• Is the pool over built or under built for the price level?

The answer is not a simple one and Realtors need to realize just because a home has a pool many factors apply before you can properly consider the value contribution.  Also the word common sense applies.  Because a home has a pool does not mean that it is worth the same as a similar sale with a pool in the price range.      

All these homes are located in the same subdivision and are the same price range.  Visually look at the points of difference.  Clearly the top right pool is much less quality, no spa, very basic.  The lower right pool is much newer as it was built in 2005, has many features such is a salt water pool, stone work, spa.  All the other pools were built in the mid 1990s .  So I ask ... should all these pools be given the same value with no adjustments?  NO ... is the answer.  That is where you would need do a little research to discover the points of difference and consider that in your analysis.

The answer to the question ... it is what a buyer in the market would be willing to pay for the amenity.  Consideration for all the above question should be given.  The increase interest in outdoor living has given more value to pool amenities.  The price range of housing is around $300,000.    Clearly the lower right one should receive a higher value than the other pools and would bring about an additional $28,000 to the price of the home.  The upper right one may bring $12,000 ... it really is understated for the property with no bells and whistles. 

In your market pools may bring varied values to a property maybe even detract from the value.  You need to research, use common sense and pinpoint what the buyers are willing to pay.  Sources to assist you with opinions are other professionals in your office, local appraisers and other Realtors that have an expertise in the area.  Seek first to think clearly and then the answer to the question will fall in place. 

A first for me, I lost one of my subscribers over the weekend.  This made me contemplate the process of why one subscribes to a blog and what may cause one to unsubscribe. 

Subscribers to blogs are generally attracted by posts from our ActiveRain members that:

• Strike an interest in topic matters
• Well written
• Educational (how to messages, technology, building the business, etc)
• Has common interests
• Attributes that others admire such as photography
• Motivates, inspires, makes you laugh 

Other features that draws attention:

• Short, concise, not too long
• Visual - presents itself with visuals, ease of reading, laid out reader friendly

 How to draw subscribers to your blog: 

• Be courteous, be known to respond back to those who leave comments on the post
• Send a personal email when the occasion warrants to a particular comment or general check in to a subscriber
• If a subscriber is consistent and is a frequent visitor to your blog, be sure to add him/her to you subscriber list and become a reader of their posts.
• Notice a new visitor with a great comment.  Go to their blog and read a few of their posts and leave comments.

 Your subscription list:  

• Be loyal to your list, follow the posts and leave comments on as many if not all as you can.
• Become acquainted with the member, know about what they share regarding values, family, hobbies, passions.  Remember that and when you leave comments be sure to incorporate what you know to add more of a link that you care, understand and have become like family, friend through their writings.
• Be sincere, interject your true responses. 
• Be gracious, when a member goes out of their way to send an email, respond.  After all we are family in AR and support one another, celebrate with one another and give advice, receive advice. 

So this comes down to the question of why did I lose a subscriber?  Not sure and shame on me, I don't know who it was which in itself gave pause for me to reflect.  I do recommend that a periodic overview of whom you subscribe to be made. 

• Keep your list fairly lean and at a manageable level so you can be a frequent reader and comment giver and stay more connected. 
• Removed blogs from your list after a long period of time that no news posts were made.
• If the content of some just did not have the initial attraction that you had once sought then when you lose interest unsubscribe. 
• If a blog just seems to turn more towards just listings on their inventory or a commercial of their services and no content of substance, if this is not what you seek in your subscriber relationship, unsubscribe.
• If the posts bring you down and are negative on a continued bases, unsubscribe, you can get that from page one of a newspaper. 

Like seeds in a garden, your subscribers should increase as your presence on Active Rain grows.  It requires nurturing, continued care, some rain from our members and it will bloom and give so much more back to you!  Weed your garden and plant the positives of sunshine.

You have dreams, goals and know you are ready to make a positive move.  Need to take that next step and move up a level in your business as you feel stagnate, stuck, even bored?  Imagination and reality can indeed compliment each other in our business.  First you need to form your vision and then turn that picture to real results. 

Action Steps to Your Next Level

•  If you do not know where you are in your business in regards to production, run the numbers for last year and first quarter 2009. 

•  Run your financials for 2008 and also year to date for 2009.  If you do not have an ability to do this in a few key strokes you need to seriously consider Quicken or Quick Books.  You cannot be successful unless you know where your expenses are being allocated. 

•  Review your production and expenses.  Ask yourself ... where I want to be and need to be.  Are my expenses in line and is smart use of funds?

•  Review your first quarter of 2008 to first quarter 2009 ... is it improved, in line, below the mark?

•  Where is your business coming from?  Referrals, mailouts, open houses, etc.?  If you do not know this stat then commit to tracking from this point forward.  This one stat can be instrumental to wise spending of effort and funds.  You absolutely need to know this part of your business!

•  Where do you want to be in the business ... your next level?  Write it down.  Write it visible so you will see at a glance in your office.  Write on top of your action plan, your calendar on a day for each week.  Write it in your mind.

•  Research who, in the business, is at the level now that you want to go to.  Contact them for a time to visit.  Find out what it is that they are doing in the business that is successful.   Be sure to ask them what works for them and what did not.  Incorporate the good points in your business.

•  Design a plan from this point forward of how to get to your new level and how to achieve it.

•  Attend classes or read posts, articles in professional publications to gain additional ideas.

•  Accountability - make sure you are following your plan.  Be sure to check your results on a weekly base so you don't drift off target and can correct.

•   If you truly want to move to the next level .. teach a class.  To move to excellence you need to master what you do.  By teaching, you become the master of the material. 

The final and most important step ... believe in your dream, work hard for your vision, and take the steps to make it come true!

FLEXIBILITY... in our business this is an absolute.  The ability to adapt, re-arrange our schedule, to keep on moving after interruptions, disappointments.  Momentum, what drives our success, gives us energy to succeed, gives us market presence, elevates us to reach our goals.

INTERRUPTIONS ... distractions from our business.  Those events that are unavoidable and need our attention.  Self imposed interruptions .. those items we do have control over but fail to screen.  Being a slave to our email, cell phone and feeling the need to be a 24/7 agent, being reactive instead of proactive.

SUCCESS ... reaching our goals, sense of accomplishment.  Learning to balance your business to go in the right direction.  To roll with the distractions and pull yourself back on task.  To be the very best in what you set out to achieve.

Learn to roll with the business in the positive direction through flexibility, limiting interruptions and always working towards your highest success.

We all have a choice of how our day will take form.  At times we do not have control on some unpleasant events that takes place or news we receive.  We do have control on how we react and interact with others.  How you emotionally take control is a true statement to your character.  Sunshine spreads, it uplifts, gives purpose and makes you not only a great family member, friend, but professional.  Would you rather be in the presence of beautiful positive people or lifeless, stale, and flat out negative ones?  Next time you have a choice, think before reacting.  Tone it down, be pleasant and deal with the situation in a positive manner in the moment of blow up.  Just remember you will move past the moment and how you deal with your disappointment, anger will be noticed by all.  Would you rather be remembered for being a positive force or one others will avoid?  You have a choice, make it a good one.

Realtors interface in the real estate business on a daily bases.  The process of selling a home, contracts, mortgage responsibilities, etc. should be second nature to us.  Like the horse out for a ride and as you get close to the stable it kicks into automatic and heads home. 

An agent in my office called asking if I knew of a survey company she could contact.  She was concerned that her clients may have to pay for a new survey as their existing one did not have the pool reflected.  She went on to explain that her clients just had not read the contract well regarding the survey options and what the buyer indicated was the seller's responsibility to provide a new survey should the existing one not be acceptable.  I told her to put all that aside and lets take one big step backwards and look at this picture she painted.  "Her clients had not read the contract well ..." so I asked who is representing her clients?  Well I am.  Enough said ... I launched into a 101 on representation and responsibility and points to better assist her clients in the future. 

Do we take for granted that our clients understand the contracts, the process?  Should we just adopt the attitude that our clients can read and therefore they understand?  It is up to us, their representative, to educate and guide our clients with clear unquestioned understanding what they are signing and how this will impact them. 

After I finished my conversation with the office associate I walked out of my home to see this hot air balloon drifting across the sky.  Perfect ... just brought a visual to sum up my whole point.  We need to make sure our clients fully understand what is taking place and not let the process of selling go right over their heads.