Goodrich in McKinney, Texas Homes Blog

Possession at Close or Seller Lease Back?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Thu, 23 Apr 2009 19:28:51 -0500

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?

Text Messaging ... Etiquette for the Addicted

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Thu, 23 Apr 2009 16:37:30 -0500

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.

Ridiculous Conservatism on Appraisals ... Realtors Beware

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 22 Apr 2009 21:55:53 -0500

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.

Dual Agency - What Side of the Fence are You On?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 22 Apr 2009 17:47:41 -0500

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?

Hey Appraiser, How Much Value Should I Give for a Pool?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Tue, 21 Apr 2009 18:39:38 -0500

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.

Attract Subscribers and Why to Unsubscribe

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Mon, 20 Apr 2009 17:19:51 -0500

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.

Move to the Next Level

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sun, 19 Apr 2009 19:26:58 -0500

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!

Just Roll With It

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sun, 19 Apr 2009 18:17:08 -0500

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.

Words for Wednesday

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 15 Apr 2009 12:12:33 -0500

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.

Are You Talking Over Your Client's Head?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Tue, 14 Apr 2009 22:29:18 -0500

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.

Want to be Noticed? Be a STAND OUT!

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Tue, 14 Apr 2009 07:13:31 -0500

How is it that some agents just stand out among the rest? They are top producers, well known, attract business like a magnet? At a glance they are strikingly visible. Give yourself this edge by resurfacing yourself and your business.

Image - A distinct identifiable trait in your business - a brand that your name is easily identified.

• Image can relate to your marketing materials - color choices, style.

• Logo, slogo- when viewed or read identifies immediate with you. Example - Just do it! You think of Nike.

• Feature - tools to bring attention. One Realtor hung red shoes over every for sale sign and called herself the Red Shoe Lady. When you drove by you immediately knew her listings. Hats - The Hat Lady of Dallas - when you saw a lady with a hat you knew it was her.

Professional Presence - being involved with varied organizations in the real estate industry and also outside with charitable activities and networking groups.

• Be visible by involvement with varied organizations.

• Be selective on where you will devote time and commit to full involvement. Don't just be a casual attendee but a reliable member and involved with varied responsibilities.

• If you commit to a position then do it well and right. Being a reliable one demonstrates that you are attentive to your business and organized. If you do a poor job the results will be damaging to your image.

• Seek opportunity to speak at functions or teach classes. Visibility is created and respect is earned.

Character- the judgment others will have regarding your personality and integrity.

• Be the Realtor others love to work with. Treat all with professional courtesy.

• Energy is contagious and brings a positive attitude... always. Be uplifting and give a smile away.

• Serve on ethics committees, panels, etc. Stay on top of the industry rules and be known as the one who others ask input because of your experience.

To be visible takes action. Action to design your business to reflect your personality and recognition, action to be involved, action to bringing a positive attitude that spreads the energy and uplifts.

Setting Yourself Up for Failure?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Mon, 13 Apr 2009 20:46:16 -0500

We have been trying to catch some elusive squirrels who have decided our attic is the "hang out" spot to set up house and of course throw parties at night. Wonder why the squirrels have not fallen for our trapping attempts? Setting oneself up for failure is an unfortunate but common theme in our industry.

Why is it that we have good intentions to commit to aspects of developing our business, yet when all is said and done it evaporates away? Quit standing by and watching and get into action!

Prospecting - Key to our business and an absolute need to do if you have hopes of building to new levels.

Select at least one new prospecting activity (postcard touches, newsletter, expired listings, FSBO, etc)
Calculate the cost associated with the prospecting activity and budget.
Take the new activity and develop a business plan on how to integrate it into your schedule.
Develop a touch program of when the activity will take place.
Place the activity on the calendar.
Follow up and DO IT!
Hold yourself accountable once a week to make sure you are doing what you committed to do.

If you have a lack of business, you need to prospect. If you need to build your listing inventory, you need to prospect. If you need buyers, prospect. Prospecting ... we all know we need to do it. Few really do and those who do we call Top Producers! Would you rather just sit it out or trap the business?

I Couldn't Run Fast Enough From Three Listings

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Thu, 02 Apr 2009 08:59:04 -0500

I got the phone call, the one we love to get ... a builder had three homes that he wanted to list and he wanted to visit with me. He had tried selling the properties himself and because of my visibility in the area wanted to talk with me.

All homes were located on the same street and we agreed to meet at the properties so I could walk through and then discuss. The first home was lovely, beautiful quality. The second home was nestled on a beautiful creek lot with mature trees. As I walked the home I noticed a slight upheaval in the kitchen area floor. The home was stunning but I had expressed concerns about the area and inquired as to what the builder had noted. He told me that after the home was built and had sat for a couple of months that the foundation developed a problem in that area. He said he had some foundation work done and piers were added, something that probably should have been initially done on this lot. I asked him if he had the paperwork regarding the correction as it would be needed to go with a seller's disclosure. He said that his homes were new construction and he did not have to do a seller's disclosure. (The state of Texas exempts new construction from disclosures). I responded that I was aware of the law of disclosure but I felt that since there had been a problem that required correction this would need to be disclosed. The builder called it an initial building construction issue that was addressed and a disclosure would not be required nor would he fill out one.

Thank you very much for the opportunity, but no thanks! I explained that I differed from his view and I felt the home had been fully constructed and sat finished then developed a major issue (cost of $20,000 to correct). I wanted no part of this deceptive representation and left.

He later listed with a Realtor, I never showed his homes because who knows what else was "covered" up. The homes are now sold. I believe I not only saved myself marketing dollars but possible legal issues. Do you think different and what would you have done?

Need to Explain How You Did a Market Analysis - It's Easy!

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Thu, 02 Apr 2009 06:38:51 -0500

Ever at a loss of how to explain in simple terms the valuation of a home? You have prepared an analysis of a property value for your clients and now are visiting with them with blank stares across the room. Maybe that electrical engineer is quizzing you and they just can't quite grasp how you derived at you range or recommendation.

Task made easy ... give them a visual image. Explain that you have thoughtfully prepared an analysis that mirrors what the buyers in a market are willing to pay for a home. Take them through these steps to stir them to your conclusion:

Your home is like a jigsaw puzzle. Each piece of the puzzle represents an important amenity, feature, componet that a buyer will recognize and give credit.
The borders of the puzzle is the entire site that your home is situated. The buyer recognizes your home's location, site size.
As we build this puzzle the buyer will recognize a view amenity, also will add for a positive view or deduct value for some view challenge such as traffic, view of multi-level structure such as apartments, etc.
As we continue to build the puzzle the buyer will recognize the living area as one factor, number of bathrooms, number of bedrooms, finishes such as fireplaces, garages, kitchen features, etc.
Condition is a piece of the puzzle, level of updates.
When you complete the puzzle you have the total picture and the value. Each piece that the buyer assigns value makes up the completed puzzle.

When a buyer visits a home they have things that they are seeking. Each one of these items are of value. The value of each piece is determined by what the buyer will be willing to pay for that item. The value a buyer is willing to pay does not necessarily equal to the cost that the seller paid for that feature. The buyer dictates the market value of a home, not the seller, not the cost, not the appraiser and as much as I would love to have the power, not the Realtor. We need to adjust our thinking and realize that the buyer sets the tempo for what homes will be worth. That is what an appraiser does in their analysis, they make adjustments for varied facets of a home that mirrors what a buyer would be willing to pay.

To be able to see your completed puzzle clearly Realtors need to explain that several homes should be considered and that one sale or listing does not make or break the value of a home. Many factors need to be put together like this puzzle to see the total picture. Step back and see the entire picture, not just one isolated piece.

Are you Telling Clients What they Want to Hear?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 01 Apr 2009 18:55:27 -0500

We are in a profession of pleasing. We want our clients to have great thoughts regarding us as a professional and to like us on a personal level. Often in our strife to win their approval we fail in the category as a professional. We become like puppets repeating what our clients and customers want us to say or validating their thinking so they will like us. We fail because we do not tell them what they need to hear.

This message is clear - never waiver from being a professional. You are not running for a popularity contest. Your job is to deliver top level service, give honest input and recommendations. You are responsible for helping them purchase a home or sell their home you have listed. By honest reflections you will be able to prepare them properly for decisions and expectations. When you do your job you will have earned their respect and they will indeed love you.

As a listing agent you are faced with discussion regarding proper pricing, staging and condition issues. A seller needs to be presented factual information about the home value. By honest input concerning condition issues and staging you can give them thoughtful ideas to help maximize the value of their home and minimize days on market. It is critical that you deliver any news with a professionally couched delivery so that you are perceived as caring, understanding but your point is made. For example if a home has a smoke odor, you need to let them know how this will impact the value. You simply say - I noticed when I came in to visit that there is a smoke odor present. I understand that this is your home and certainly respect that you were in the comfort of you house when you smoked. However, I have to be honest in the fact that the majority of buyers visiting your home would have some concerns about eliminating the odor and will not be able to enjoy your lovely floor plan, updates, etc. Have you thought about this possible objection? From there you can together discuss ways to alter this condition. Same thing applies to the true value of the property. The seller may be out of step in price and they need to factually be made aware. By a thoughtful discussion you can still remain friendly and not be viewed as negative. Buyers may need an honest discussion regarding expectations. We want a home with wow amenities but pay peanuts. As their representative you need to help them adjust their requirements and compromise. Buyers may want to negotiate in a poor fashion and you have the responsibility to advise them of how their offer may be viewed by the seller.

You have been honest and professional. Now you have to respect that some clients may still choose to go against your recommendations. After you explore the consequences the ultimate decision is yours, is this client you feel you can work with or assist? Remember your relationship with a client is partnership with both parties working together. You will find that clients often may not like what message you deliver but they will ultimately respect your input. This may save them time and money on decisions. You truly will be the exceptional professional.

Being the Listing Agent the Selling Agents Love

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Tue, 31 Mar 2009 16:40:30 -0500

You have the wonderful opportunity to work with another agent on the selling of your listing. Simple courtesies and added little touches can make you shine as a professional and be the Realtor that agents enjoy and look forward to working with on a transaction. Making the experience seamless and kept smoothly flowing is the goal.

No matter whom you represent the single most outstanding element of communication can make or break the perception of the experience. Keep each other well informed during the process and the communication starts on day one from the offer submission. Some tips for listing agents to help build the relationship:

• Thank the buyer's agent for showing the property and opportunity to work with him/her. No matter if the offer is just out of the ball park low be gracious and non judgmental. Remember you are the neutral party than is suppose to remove emotion and get into business.

• Let the buyer's agent know when you have made contact with the sellers and when you will be meeting with your clients to present the offer. If your clients are out of town, explain to the agent the circumstances and in what manner they will be able to respond.

• After you discuss the contract offer either give your response to the agent or inform him the clients need to consider, investigate something, etc. and when a response is expected.

• Best method to return a counter offer or contract if not hand delivered is via email. With an email you can check the quality of the scan and account that all pages are present. It is hit and misses with fax machines. If you email or fax be sure to follow up with a phone call message that the information was sent. You can never trust that things came through properly so validate it will save a lot of misunderstanding and grief.

• All deadline on the contract need to be observed - providing HOA resale certificates, providing survey, etc.

• After you are under contract give your sellers an information sheet to fill out regarding the utility providers, contact numbers, any vendors they use i.e. lawn service, pool company, etc. Have them state when trash pick up day is for the home. Return the filled out information to the agent along with any instructions on how the buyers can sign up on-line for water, trash, etc, as well as websites for driver's license address change, post office delivery change notification.

• Give your sellers a reminder list of To Do Items to include dedicating a drawer/location for any home manuals, keys, garage openers, etc. Remind your sellers to arrange for a special trash pick up prior to the time the buyers will get possession of the home and to try to have the trash receptacles clean of debris. Remind them that the yard needs to look groomed and interior to sparkle.

• Receipts for any repairs need to be sent to the agent. Email is the best source for sending and documentation.

• Inform the buyer's agent when the seller has made termination of utility to take place.

• Make sure that you have discussed arrangements of how the buyer will receive the key to the home.

• After the property closes, write a handwritten thank you note of appreciation to agent.

Key points to remember. Always be pleasant, professional in responses and refrain from emotional dialog. Most experiences are judged on how great the communication so make this a point to email, phone call and keep all informed. Your goal, a seamless and great experience and to be the agent selling agents love to bring their clients to your listings.

Are Your Emails Doing the Talking for You?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sun, 29 Mar 2009 19:06:31 -0500

The day of personal conversation is quickly becoming a thing of the past. We rely on text messaging and even more on our emails to be the main if not only form of communication. What has happened to that personal phone call and direct conversation with our clients? I am afraid we have fallen victim to the new age of computers and like handwriting, our keystrokes now become our voice.

Don't misunderstand the beauty and convenience of emails. They are a fantastic source to document correspondence, file, and import to your varied programs to provide validation of a touch. How about a voice on the other end of the phone? You can hear the energy, feel the hesitancy, read the pulse of the tempo of receiving some news. Then you can continue with follow up dialog to clarify or smooth over something that is misunderstood. Nothing can replace the art of conversation.

A compromise - do both, email and pick up the phone to call. Be sure to document that live conversation and make sure you do it at least once a week or more depending on your client's needs and business that may need to be addressed. Commit to being a voice that is recognized when you call and not just an image on an email. You will find that your business relationship with your clients will develop to be more like family. The call they look forward to and so should you.

The Right First Impression & Avoiding Pitfalls with our Voicemail and E-Mails

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sun, 29 Mar 2009 15:24:05 -0500

With this technology communication era we exist often our first impression and interfacing with a potential client is through our voicemail message and e-mail responses. More than ever it is paramount to have good e-mail etiquette manners and thoughtful voicemail message.

Voicemail - thoughts to consider:

• Content of your greeting. What do you wish to say? Map out key points or even write up the message. Make sure it is concise, professionally worded. If you have a short fuse time for someone to leave a message you may say leave a short message to tip them off. Nothing more irritating than to leave a message to have to re-record because you get quickly cut off.

• Recording your greeting - make sure you are located in an area that no noise will be heard in the background (people talking, phone ringing, dogs barking, etc)

• Voice - speak clear and in a normal tone with some energy. You do not want to sound like you are reading anything or mono tone. People want to work with an agent who has energy. This is not a race to see how quick you can speak. If you are a fast talker, tempo the speed down a tad so that the caller can catch your content of the message. As I tell people, I have Southern ears so speak slowly.

• Listen to your message - are you happy with it? If not re-record until satisfied.

My voicemail message is - Thank you for calling Connie Goodrich with Keller Williams Realty. Please leave a detailed message and I will get back with you as quick as I can. I appreciate your patience and look forward to visiting. Thank you for calling. Note - I did not say I would call them back in 5 minutes or a time frame. If you do then you darn sure better meet that expectation. I do call back promptly but if I am tied up in a meeting, etc. it will be a short time before a break.

Your e-mail correspondence:

• Your e-mail is just like a handshake - judged on how it is delivered. You are judged by the content and professionalism.

• When corresponding with clients or other professionals - treat them with professional courtesy of a business communication. Do not get too cute with LOL or other informal dialog until a relationship is established. That way you can better temper future e-mails to mirror the image you need. It may be that fun communication will be for the future. Do not assume until you know.

• Make sure your e-mail utilizes proper grammar, spelling and punctuation. This will lay the ground work that you are an educated professional. Use word check and be sure to mix up similar words to not be repetitive. Example - It was so great to hear from you. It will be great to visit and great to find that special home. GREAT - you need to read what you write and be thoughtful in content or you will begin to grate on them before you even meet.

•· Avoid long messages - be concise. Remember we are in an age of speed and immediacy. Information now, quick and move on.

• Subject Line on the e-mail - state the purpose. This will grab the reader's attention quick rather than put it off for later or delete.

• Select your words wisely - the reader cannot see your body language or facial expression. Make sure the right written tone is being utilized. Some messages are better delivered in person or by telephone if the topic is a sensitive one. Read over you message and if you feel it is harsh or written with anger you may just want to delete and cool off. Once you send unless you have a delay send implemented on your system that is it. No take backs. You may wish to save as a draft and think about it and step away for awhile.

• Do not forward someone's message without permission. Think twice before you Reply to All. You may be passing on a confidential message or communication.

• When you do forward a message make sure you read through the body of what you send. I once received a forwarded e-mail from a Realtor. I read my intended message but scrolled down to a communication between her and the client. I found out that they had put in two offers on homes at the same time. The agent just gave me huge fuel to share with my client as we had a multiple offer working on the property. As you would say ... her bad!

First impressions and professional communication will set the right tone from the start of a respectful and GREAT relationship.

How Realtors Need to Prepare for the New FHA Appraisal Changes

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sat, 28 Mar 2009 14:16:02 -0500

With every challenge to our real estate industry comes waves of changes. Some very much needed and some just plain knee jerks reactionary. One given, as time passes and today's whoas become yesterdays reflections, changes of flexibility will take place. For now, while in the moment of heat, the rules have tightened and more strict practices have been implemented. We need to learn to accept this is the plate that has been dealt and now how best we can embrace and prepare.

I am one of those rare breeds, a full time Realtor, but by past background of 14 years as a full time appraiser as one would say, feels the pain. Having walked in those shoes and still maintaining my state certification, I know that these changes will impact our business. Below is a summarization of the recent guideline change that takes effect for appraisals done after April 1, 2009. Note that these guidelines are for areas where there is a declining market. Some areas that are not in decline may elect to require some of these guidelines as well. Being aware of these changes will better help us with our listings and working with buyers as we understand the impact these changes may create.

1. A new addendum is required for appraisal reports - Market Conditions Addendum (FNMA Form 1004MC/Freddie Form 71). This is a new form that the appraiser must fill out to address declining markets. The impact is that this form is fairly intense and time labored even in a vibrant area with great sales activity. This will cause more time for the appraiser and it should be expected that appraisers will seek a price increase on reports for their time and added work responsibility

2. Appraisers must use at least 2 comparable sales within 90 days of the appraisal date. Appraisers may have difficulty finding meaningful comparable sales with this restriction. In a market or area that has little activity the appraiser will have to go out of the neighborhood to obtain comparable sales within this time frame. This may present challenges of good comparable data, flags to an underwriter to reject the report due to lack of credible data, etc. Even when an appraiser has no value problem it still can be declined due to an underwriter not accepting the report. The appraiser cannot make up data so his/her hands are tied. What a Realtor can do is stay on top of their farm area where they list homes and get information if there are properties that sale unreported in MLS. Obtain verification sources for the appraiser to confirm price, terms, etc. Also be aware of what a good comparable neighborhood the appraiser can jump to seek more recent sales. That way you guide them towards a competitive quality area.

3. Appraisers must use 2 active listing or pending sales in addition to 3 closed comparables. This just makes good sense. In a changing market, one indicator of price change is the current listings. Are they being reduced in price going down? Closed sales information can be dated. A Realtor can be informed as to the competitive inventory and what condition differences may be present. For example a listing may reek of smoke - price keeps dropping because of condition. Make the appraiser aware of such things.

4. Bracketed listings using both dwelling size and sales price when possible. Simply stated the appraiser must find when possible at least one sale that is above and below the sales price or appraiser value of the subject property. This also applies to square footage above and below. If you have one of the highest priced homes and largest homes in the area this may present an issue. Be prepared by research to provide an appraiser with suggestions of alternative neighborhoods that may give these needed variables.

5. Adjust active listing to reflect the list to sales price ratio. An appraiser must apply an analysis of adjustments comparing the subject property to the active/pending sales information like is done for comparable sales. An indicated adjusted value for the active/pended property is derived. An estimate is applied to the anticipated sales price from list (maybe 3 to 5 percent) then a bottom line indicated price for the home is given.

6. Adjust pending sales to reflect contract sales price when possible. Same as #5 above. When possible the actual sale price of the pended sale if obtained will be used.

7. Include original list price of the subject and any revised list prices. This is a history of the price of the subject property. Any explanations such as price elevations due to condition improvement, etc will certainly be excellent information to have ready for the appraiser.

8. Reconciliation of adjusted values of active or pending sales with adjusted values of closed comparable sales. This is where the appraiser must comment as to how the comparable sales values and the active/pending sales compare in indicated price levels. This is another tool to validate if the market is still in decline, steady, or improving.

9. Absorption Rate - An appraiser must include this study. This is a simple analysis of how many homes are currently for sale (inventory) to home many are expected be sold within the month. How many homes in the price range are currently under contract. This is an excellent analysis I use when I visit regarding listing a home. If you don't do this then you need to learn!!

10. An appraiser must inform of any known sales concessions (buyer closing cost assistance) for reported sales and those offered on listings (bonuses for Realtors and buyer incentives). Be aware that these concessions may be deducted from the sales price of a property or list price.

To be prepared:

• As a listing agent know these guidelines and be aware of how you can assist the appraiser with information.

• When an appraiser calls you for input/conversation regarding a property, make yourself available to assist.

• Maintain good records so you can answer questions and know all the terms of a transaction.

• Consult with local appraisers and find out what is being required of them on reports. Have one visit your MLS or Office Meetings.

• Make friends with the appraiser so the communication is comfortable and well received.

Remember these are guidelines and may not necessarily be required. These changes mostly will be required in areas with a Declining Market. As your declining market improves the biggest obstacle will be appraisal reporting and getting the underwriters to accept the positive change.

Remember - one thing is certain about change, it will change again. Stay on top of what is new and how it applies to your market.

The Journey Home, the Good Bye with a Smile

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sat, 28 Mar 2009 11:02:15 -0500

It has been one year today that I sat by the bedside of my mom and said goodbye until we see each other again. It had been a long few months as she struggled to regain her health fighting with every ounce of her 85 lbs tiny frame. My father had passed away just a few months earlier and now my mom had felt her time here had been fulfilled and time to journey "home".

My mom, my example, my hero. She truly was a lady before her time. As a young adult she had joined the WAVES and served our country with pride. She became a meteorologist and even was a weather lady for a local news station. She married my dad and they had 63 years together, an example of commitment to making a loving home. Being a hard worker she held down three jobs at one time to help out with our finances. At that same time she was the PTA President, Girl Scout Leader. The endless energy she brought to all she did. Meticulous is organization, dress and all she did. Truly an example to all.

I miss her every day. She was my cheerleader, my best friend. I was so blessed that even up to the end she was fully aware of all and we were able to recall great memories together. Those same memories that I will draw upon and repeat to keep her memory alive for generations to know her. My brother and I were so blessed to have her as our mom.

Now she lays to rest next to my dad at the National Cemetery in the Dallas area. A quiet reverence place of such pride and spirit of country, duty and honor. I have the flag that was draped over her casket next to a purse she had made and with matching gloves she had worn. Just as I will always remember her, a lady of style, honor, and the one of our finest and best. My mom! I smile today because I know that she had left such a legacy and was such an inspiration to all that knew her. Mary Frances Cary King, age 86, loving mother of three children and 6 grandchildren and one great grand child. She loved Texas and the flowers that I photographed above.

Roll Out the Red Carpet

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Fri, 27 Mar 2009 21:46:57 -0500

Do your clients feel like they are one of many that you are working for or a special standout from the rest? The perception of the client defines the experience they have with their Realtor. Are you an average Realtor that delivers a typical performance or are you an exceptional professional that provides an outstanding experience?

You can elevate the experience by simple added touches, courtesies and a solid foundation of real estate understanding and communication. Are you ...

•· On time for the appointment?

•· Dressed professionally?

•· Call to confirm a meeting time?

•· Listen to their needs and making sure they are met?

•· Giving your clients blank copies of all the contract types they will interface with so they can read over prior to sitting down and filling out the document?

•· Providing organized books for your listing presentation and buyer books for your clients?

•· When working with a buyer is your showing appointments well organized with copies of information about the homes, maps, and a summary sheet for comments?

•· Do you call your clients and communicate. Actually call not just email?

•· Do you know the client's children's names and animals names and greet them and include the children in conversations?

•· Do you summarize and follow up?

•· Do you research prior to your home visit and showing appointment to know facts like days on market, builder, facts about the neighborhoods, school locations, etc?

•· Do you always sound upbeat and happy they called with a question?

•· Do you feel like you have provided a warm and customer servicing attitude?

•· Do you offer and do things well out of the scope of your job to help your client?

At the end of the day when your listing closes or your buyer gets the keys to their new home do you feel like they have been given the red carpet treatment? Perception is reality so make sure your clients have a wonderful and lasting experience regarding your service. Do you feel like you are a member of the family at the end of the day, if yes ... job well done!

Trust Your Gut

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Thu, 26 Mar 2009 22:13:12 -0500

I received multiple offers on one of my listings and my homeowners were ecstatic. One of the offers came in at full price and the other was $5,000 below the other one. My owners wanted to whip out their pens and to sign off acceptance. I recommended to them to hit the pause button. Some questions needed to be asked.

As I read through the full price offer I noted the following:

•· The agent verbally had told me his clients were pre-approved. They had been on contract for another home but it fell out because the condo complex they were trying to purchase a unit was not FHA approved and that is the financing type they were obtaining.

•· The buyer was putting 20% down on FHA financing.

I called the agent and inquired - if the buyers have 20% to put down, why are they not obtaining a conventional loan? The agent stated that they had a little credit challenges and their score was below the conventional standard. I asked when the lender had given the approval. The agent was not sure as he had did not represented his client on the previous transaction. Who is the lending institution? The agent was not sure. Then the agent said, my client is putting 20% down and that buys a lot of forgiveness. They will be able to purchase this home. I said that 20% was impressive and I certainly agree it will make them look stronger for their financing but I still wanted to have a letter from the lender regarding their ability to purchase this home. I asked the other agent if he by chance knew what their credit score might be as the guideline had just changed for FHA and just wanted to make sure they were still qualified. The agent again said that they had 20% down and that should qualify them for the loan. I again agreed that this was a very nice amount but as a professional duty of mine, I needed to review the pre-approval letter.

The next day I received a call from the agent. His client needed to withdraw his offer. It seems that they no longer would be able to qualify for a home purchase. The agent paused and said they have a ways to go before they will be purchasing a home. My clients went forward to accept the second offer.

Dig below the surface, ask pointed questions, be immune to tap dance answers and seek answers and validation. If your antenna goes up, trust what your gut.

I Blame The Girls Scouts

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 25 Mar 2009 14:52:19 -0500

They come around in those uniforms and you know it is that time of year again, Girl Scout Cookie time. I have very few vices in life but cookies, well that hits me right where it hurts, on the hips thighs, stomach. So I got on my scales after savoring the last cookie in the box and to no surprise, a weight gain. It's the Girl Scouts fault having those tempting cookies. I use to be a Girl Scout so I had to buy, it was patriotic. Yes, I could have contributed a donation but that would have left me without those great cookies. It simply is the Girl Scouts fault.

I took some time off this last week to enjoy the spring and rebuilt some energy. I did not get out my marketing pieces, network, stir up some business. New opportunity was not sought or gained. I blame it on the spring season. It tempted me with gorgeous weather and a goof off feeling so I just had to cave to the moment and quit feeding the pipeline.

I went of a listing appointment a few months ago. Had a wonderful meeting with the homeowners and they just did not think the timing was right to make a move. I wrote them a thank you note and then put their folder away for a rainy day. I noticed there was a new listing and what, it was their home. How could that be? I wrote a note and we had a lovely visit. I blame it on the fact we have not had a rainy day and therefore I did not keep in touch.

Excuses, excuses ... what next? Have a hard self visit to see if you are happy for the direction your business is moving, life is treating you. Remember with any action you have the choice, you control that choice. I decided to eat, eat, and gobble down those delicious thin mints and I also made that decision that weight gain would happen unless I altered my other eating and exercise. Choice and consequence. Be brave and make smart choices and reap positive results. Choose to be smart in your business and not just wait for the phone to ring because it won't. You have to earn that call. It's all in your choice so make it a thoughtful one!

Dallas Arboretum - Explosion of Colors!

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Wed, 25 Mar 2009 13:46:03 -0500

What a gorgeous visit to the Dallas Arboretum last weekend. Picture perfect weather which gave me plenty of photo practice moments. The Dallas Arboretum and Botanical Garden is a 66 acre botanical garden located abutting the White Rock Lake area of East Dallas. There are many areas of varied garden features and fountains. The skyline of Dallas can easily be seen over the White Rock Lake shoreline where the Arboretum borders. Forty four acres of the Arboretum were once part of an estate, Rancho Encinal, built by Everett and Nell DeGolyer. Their Spanish style residence is still present and serves as a gift shop and area for small events. The DeGolyer home is listed on the National Register of Historical Places. Among the plants and horticulture is a collection of azaleas that includes 2,400 varieties, 400,000 spring blooming bulbs.

The day that I went was simply breathtaking! Several brides were there with professional photographers snapping away. There were a couple of areas set up for weddings after hours. Truly a wonderful experience and a well spent joyful few hours just soaking in the beauty!

I snapped some colorful pictures which I will share over the next few weeks.

Blogging Blues Because of No Gold Star?

Connie Goodrich, CRS (McKinney Realtor) Texas (Keller Williams Realty) — Sun, 22 Mar 2009 14:37:00 -0500

Frustrations and disappointments hit an all time high and you are ready to quit, toss in the towel? When you reach that point there are a few things you need to consider pulling yourself back on track. I'm speaking of your posts with no visitors and few to no comments and the invisible feeling you may be experiencing.

•· So you pour out your heart on what you consider to be "Feature" worthy content. This time you know you have hit a bull's eye. You labor on the wording, clever images to incorporate, popular topic or thought. You push Submit. Wait; go back and forth to see if your post has entered the blog path for viewers, yes ... there it is. Wait, a couple of minutes pass, go back to your home page ... no comments yet. Click to the blog posts, yes still there but working itself down. Flip to the feature list, no not yet but surly the powers that will be will read. Click, click back and forth. No, no, no comments, no interest, no satisfaction, no gold star. Your post works its way down the line and then off the page, 0 comments, no recognition, no pat on the back.

•· What went wrong? It may have nothing to do with your content but some other factors to consider. First of all - are you writing for the Feature or what is you motive? I have found personal satisfaction for making my post be a mirror of my outlook and thoughts. If you write with the intent of the Feature then you more than likely have set yourself up for failure or disappointment. Yes, being recognized and all the glorious comments are exciting and rewarding but should never be the purpose for the content of your post. Personally I try to write to uplift myself, give out helpful suggestions to others, pass on experiences, and give tips. With that frame of mindset you will build your own subscribers who will enjoy reading your post because of what you offer. Write and they will come.

•· Title - be clever; hit on the content in thoughtful wording. Think about when you read posts, what is it that attracts you to go further to click and read? The heading, the first few lines of the post are the grabbers. Be selective to quickly guide the reader to what your topic covers.

•· Content - Who has time to read a novel? Be concise, thoughtful, use bullet points, and respect to layout.

•· Be yourself, let your personality shine.

•· Proper grammar and spelling. Check in word and read over what you have authored again, don't be so quick to submit.

•· Join groups that center on interest that you have a post that is a great fit. It may be featured there.

•· Subscribe to others - if you give of your time to thoughtfully comment on many posts, consistently to those you enjoy, they in turn will visit your post and comment. Your AR friends!

•· What time of day do you post? Experiment as to when the traffic is higher on AR and more exposure. Just remember at popular posting times your exposure on the blog line goes rapid down the line and time visible at a first glance.

The Gold Star is great but your self satisfaction of expressing yourself, sharing, and educating is what Active Rain brings. So give yourself a gold star when you hit the big zero and move on. Look in the mirror to see what you can do to alter some things to attract more viewers. Keep in mind that if you are happy with what you post then goal achieved!