David Williams-Cary Native & Broker/Owner of CaryRealEstate.com

Cary Real Estate Market Report - January 2010

David Williams (CaryRealEstate.com) — Thu, 04 Feb 2010 13:31:55 -0800

The Cary Real Estate Market in January showed signs of improvement from a stabilization standpoint. Inventory is down slightly while pendings and closings are up from this time last year. All stats are for single family homes only in Cary North Carolina.

Total # Cary Homes For Sale as of January 31, 2010: 739

Cary Homes For Sale at the end of January past 5 years

Number of New Listings - Cary Homes For Sale - January 2010: 244

New Listings in January of Cary Homes For Sale Previous 5 Years

Cary Homes For Sale that went Under Contract - January 2010: 94

Number of Homes Under Contract in January Past 5 Years

Closed Cary Home Sales Report - January 2010: 71 Homes Closed

Cary January Closings Data Compared to Previous 5 years

Cary Real Estate Market Conditions Origanlly Posted on CaryRealEstate.com

Curious what we mean by Cary Home Sales and where our data comes from?

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David's a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

American Tobacco Trail - Converted Railroad Track Trail in Cary North Carolina

David Williams (CaryRealEstate.com) — Thu, 28 Jan 2010 16:11:38 -0800

What is the American Tobacco Trail?

It's 22 miles of trails running from Cary to Durham - the trails are built over an old abandoned rail road track that dates back to the early 1900's. The American Tobacco Trail's almost perfectly flat - which makes sense when you think of it being where a railroad track used to be - along the trail you will find yourself in tunnels, under highways & on bridges.

The trail is open to walking / running / hiking / bicycle riding and horse back.

One of the American Tobacco Trail public access points is in Cary . . . .

. . . Continue reading full article on American Tobacco Trail

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David's a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary North Carolina Market Conditions - Average Days on Market

David Williams (CaryRealEstate.com) — Tue, 19 Jan 2010 18:22:39 -0800

Cary North Carolina Home Sellers experienced a fairly stable average number of days on the market for 2009 – for the year the average was 121 days on market – or approximatley 4 months.

While this is a bit longer than years past it’s still a very robust market – especially compared to other parts of the country. It’s still crucial to price your home correctly in the beginning . . . continue reading Cary NC Market Conditions

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David's a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Cary NC Group Prepares for Haiti Disaster Relief Trip

David Williams (CaryRealEstate.com) — Wed, 13 Jan 2010 20:07:47 -0800

A tremendous amount of attention is focused on Haiti right now as they recover from the massive earthquake. People are scrambling trying to find a way they can help - well - here's a way!

There is a local organization right here in Cary with infrastructure already in place in Haiti - they have a group leaving in the next 72-96 hours - they are looking for experienced medical / search & rescue or translators

If you're a regular reader of this blog you know I have strong ties to Hope Community Church - Why do I bring this up? Through the members of Hope Community Church a foundation was started several years ago - the Hope for Haiti Foundation - the group has been making trips to Haiti over the past several years - the foundation received a huge boost when Hope Community Church decided to purchase and renovate 2 buildings in Haiti for a hospital and dormitory - that's right Cary's Hope Community Church is building a hospital in Haiti!

Hope For Haiti Foundation

Hope Community Church Update on Haiti Operations

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David's a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

CaryRealEstate.com Makes it Easy for Home Buyers & Sellers

David Williams (CaryRealEstate.com) — Fri, 08 Jan 2010 00:56:42 -0800

At CaryRealEstate.com we’re always keeping our eye out on how to improve our level of service with home buyers and sellers. Most of us enjoy the latest gadget but rarely does something have as much positive impact as docusign. It’s a web based service that allows the creator of a document to send an electronic copy to a recipient and allow that recipient to sign, date, initial etc a document with a few easy mouse clicks. Yes there is a short process to accept/create your electronic signature but it’s super easy.

We’re able to compose, deliver, receive signatures and file electronically without ever creating the first piece of paper! It’s perfect for offer to purchase sales contracts, buyer agent agreements, listing agent agreements etc!

Finish Reading this Post on How CaryRealEstate.com makes it easy for home buyers and sellers

Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams

David's a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com

Builder Deposit vs Earnest Money – What’s the Difference to Home Buyer?

David Williams (CaryRealEstate.com) — Thu, 07 Jan 2010 00:12:33 -0800

Ask Cary Real Estate: What’s the difference between a Builders Deposit and Earnest Money? How do they effect the Home Buyer? Cary home buyers offer earnest money on a re-sale home and a builders deposit on most new construction. Here’s a quick overview of the similarities and differences between a builders deposit and earnest money.

Continue Reading the Rest of 'Builder Deposit vs Earnest Money"

Town of Cary Remains One of the Safest Places to Live in the US.

David Williams (CaryRealEstate.com) — Thu, 10 Dec 2009 21:15:25 -0800

CQ Press, who publishes the annual City Crime Rankings just released their annual report - the Town of Cary received the following distinguished rankings:

Safest Municipality in North Carolina for the 11th straight year.

Safest Municipality in the South East.

5th Safest in the Nation for populations between 100,000 and 499,999. (Cary''s current population estimated to be just under 140,000)

19th Safest in the Nation out of entire list without regard to population size.

While the rankings are very impressive it was noted that the town's ranking dropped from the previous year high ranking of 3rd safest based on population and 15th safest overall. One reason for the decline - the 3 Cary women who died at the hand of domestic violence this past year - which is very unusual for Cary - a town which usually will not have a single murder over the course of a year.

Having lived in the Cary area my entire life I sometimes take for granted how safe our Town really is. The Cary Police strive hard to keep it that way! Which brings up a great takeaway point - don't speed in Cary! The police have the time to write speeding tickets!

David Williams & Cary Real Estate Attorney Rick Twomey offering class on new RESPA changes

David Williams (CaryRealEstate.com) — Thu, 10 Dec 2009 21:12:44 -0800

David Williams and local real estate attorney Rick Twomey will be offering a class for Cary area real estate agents on the changes to RESPA (Real Estate Settlement Procedures Act) that go into effect January 1, 2010.

Specifically this class will be covering the new standardized Good Faith Estimate that all lenders will be required to provide home buyers and the new revised HUD-1 closing form.

The changes stem all the way back to round table discussions that HUD conducted in 2005 - the main objective of the changes is providing the consumer with greater clarity and transparency in the cost related to home purchases and home mortgages.

The class will be held December 16th from 10am - 12pm.

Location: Hope Community Church, 821 Buck Jones Rd Raleigh NC 27606

Cost: $20 RSVP to Claire@CaryRealEstate.com

This event is open to all area real estate agents.

Why FHA Financing Could Become Out of Reach For Many

David Williams (CaryRealEstate.com) — Thu, 10 Dec 2009 21:10:30 -0800

It may become more difficult for a home buyer to obtain FHA financing. In Washington there's pending legislation to increase the requirements for buyers using FHA as the source of their home financing. These new regulations would make it more difficult for buyers to qualify. It's called the “FHA Taxpayer Protection Act of 2009". The reasoning behind the new regulations is to shore up the stability of FHA - this in itself is a controversial topic - FHA maintains reserves in the event of borrower defaults - how much should be in those reserve accounts and how they are calculated are often disputed - go figure, right!

Here's the bottom line of the new proposed FHA Home Loan Requirements:

1) Increase the minimum buyer down payment from 3.5% to 5%

2) Reduce the amount the home seller can contribute as concessions (seller paid closing cost) from 6% to 3%

3) Raise the minimum credit score requirement

Just a heads up - if you're planning to purchase a home using FHA, now may be the time - before it becomes more difficult!

What is A Short Sale? David Williams, the Voice of Cary Real Estate Answers

David Williams (CaryRealEstate.com) — Thu, 10 Dec 2009 20:48:23 -0800

What is a Short Sale? A Short Sale occurs when a home seller is allowed by their lender to sell the home for less than what's owed on the mortgage.

If you are a home seller you may be thinking COOL - I like that idea - not having to payback as much as I owe - well of course it's not that simple. Typically several things need to occur before your mortgage holder will consider a short sale:

1) You are delinquent on your house payments

2) You have no other assets or ability to cover what you owe

3) Short Sale is the only option to avoid Foreclosure

4) Lender considers short sale necessary and possible

Why would a lender accept less than what you owe? Foreclosures are expensive for the lender - as much as $50,000 or more when all is said and done. If foreclosure is eminent then accepting a short sale loss may be less of a loss than foreclosure.

Lender's are not required to allow a short sale - they are 100% in control - and if you have a 2nd loan, like a home equity loan - then both lenders have to approve the short sale.

Impact of a Short Sale to a Home Seller:

1) Can not receive any money from the sale of the home at closing.

2) Credit will be damaged (typically less than a foreclosure)

3) Lender may file a deficiency judgment against seller for balance of their loss (difference between what they received at closing versus what the seller actually owed)

4) Short Sale may have IRS implications where forgiven debt is considered income - currently there is a moratorium against this - it's called the Debt Forgiveness Act.

____

Impact of Short Sale to a Home Buyer:

1) Offer to Purchase agreement is between buyer and seller, with a contingency that lender must approve

2) Purchase price will probably be less than market value

3) Can take weeks or even months for lender to approve

Bottom Line - Short Sales are nothing but 'Short" They are complex real estate transactions - if you have any questions about short sales let me know!

Thanks for Reading our Cary Real Estate Blog - This Post Authored By: David Williams

David is a Licensed North Carolina Realtor and Broker/Owner of CaryRealEstate.com

CaryRealEstate.com Specializes in Residential Real Estate in Cary, North Carolina

How to Avoid a Huge Home Pricing Mistake, Home Seller Tips from Cary Real Estate

David Williams (CaryRealEstate.com) — Wed, 18 Nov 2009 22:20:29 -0800

There are many factors that go into properly pricing a home, this is a simple yet powerful tip! We all know the age old marketing ploy, price something at $9.99 instead of $10, it just sounds better right? No doubt this approach works it's magic on our minds when we stroll the aisle of Target but don't make the mistake of using this strategy with your home.

It can be a HUGE MISTAKE to price your home at $299,999 instead of $300,000!!

Curious Why? I hope so. It's one of those simple things that's so easy to miss.

Where do buyers start their home search? Online.

How do the online search parameters work? By Price.

Figured it out yet? Online home searches have you select your price range in even increments.

By pricing your home just above or just below a major price point you unknowingly eliminate tons of potential buyers!

If you price your home at $299,000 you have just eliminated the buyers that are looking in the $300,000 - $350,000 range.

If you price your home at $303,000 you have just eliminated the buyers looking in the $250,000 - $300,000 range.

If you have a home that is close to a $25,000 price point consider pricing it exactly at that price point.

What to Expect During the Home Inspection, Home Buyer Tips from Cary Real Estate

David Williams (CaryRealEstate.com) — Wed, 18 Nov 2009 22:09:50 -0800

Most buyers really don't know what to expect during the home inspection. Should they attend? How long will it take? Here's a few tips to help you be prepared and know what to expect.

Should you attend the home inspection? Yes.

If at all possible plan on attending the home inspection. While it is not required for the buyer to be present during the inspection I've found that it helps. You get to see the inspector working and can learn great tips about preventative maintenance items. How long will the inspection last? Typically in the 2 to 3.5 hour range.

When do I pay? How much will it cost? Be prepared to write the inspector a check at the time of the inspection. The cost varies between inspectors and the size of the home - a good estimate is $350 - $500

Expect to sign a home inspection agreement with the inspector. The agreement spells out the inspectors responsibilities etc.

The Home Inspector will be visually inspecting many components of the home, you will see them run the dishwasher, test doors, windows, electrical outlets etc. They will move through the home systematically, making notes of their findings along the way. The inspector will wait to go under the home last (if it's a crawl space) - having already ran water in the sinks, flushed toilets etc it will be easier to notice a leak.

Remember the home inspector is working directly for you and is not tied to the sales contract in any way. Here's why that's important, you may hear the inspector say something like, "The sellers will have to fix that", not necessarily - while it may very well be a legitimate item that needs repairing, the seller is not obligated to make the repair - how you handle the findings from the home inspection report will depend significantly on terms in the offer to purchase. The best way to handle this is to wait for the written home inspection report and then determine which items are of concern and how to address them with the seller.

Here's a great way to mentally categorize things the home inspector finds or points out. This is not an official method, if you say to the inspector "Is that a category II finding?" it's not going to mean anything, it's simply intended to be a help as you process things the inspector finds.

Category I items: think of these as recommendations - things the home inspector may point out that could be done to improve or extend the life of an item. This is not really something you would typically ask the seller for, just good info to have.

Category II items: minor items, again good to know but not really a substantial reason to be alarmed. For example, a closet door latch needs to be adjusted.

Category III items: in my opinion this is really why you are having the inspection, items you want to be aware of before you decide to close on a home, for example, plumbing leaks, broken heating or air conditioning system, foundation problems etc

With any home (even new ones) the inspector will likely find a number of items to report. It's important to wait until the end of the inspection and look at the complete findings.

After the inspector is finished they will go over their findings with you verbally, followed by a written report, typically the next day. The written report will show their exact findings along with photos.

Once you have received the written report you can evaluate and determine which items to request the seller to repair. Please remember, usually there will be a date within the offer to purchase contract by which any repair request must be submitted to the seller.

The home inspector is reporting if a particular item or system is working or not - they will typically not get into what would be required to repair the item or the cost to do so.

Remember no home inspector is perfect and they don't have x-ray vision. A clean inspection is not the same as a guarantee. Something can be working today yet break tomorrow. Depending on the age/condition of the home you may want to consider a home warranty.

National Real Estate Sales Increase & Cary, NC Local Market Improves

David Williams (CaryRealEstate.com) — Wed, 18 Nov 2009 22:04:52 -0800

Looking for a little good news in the world of real estate? Last week at the Realtor Convention in San Diego, Lawrence Yun (NAR's Chief Economist), yea can't help the name drop - it was cool to hear his address in person! - anyway - he reported the number of homes selling (or going to pending status) continue to increase - in fact, the nation has seen 8 straight months of increased sales!

Here in the Cary NC area, the local MLS association reported today the number of homes going under contract/pending status for October up 28% over October 2008 numbers! The number of closed homes increased almost 18% over the same period last year.

National Pending Home Sales Copyright National Association of REALTORS®. Reprinted with permission.

Cary and Entire Triangle Area MLS Reports Increase in Pending Home Sales

Earnest Money and the North Carolina Offer to Purchase, What Every Home Buyer Should Know

David Williams (CaryRealEstate.com) — Fri, 30 Oct 2009 15:15:52 -0700

What is Earnest Money?

Who Holds the Earnest Money?

How Much Does the Earnest Money Deposit Need to be?

What happens to the Earnest Money if I Don't Close on the Home?

These are all great questions that home buyers ask before purchasing a home in North Carolina. Here's a typical scenario for a buyer purchasing a resale home in the Cary-Wake County-North Carolina area You've found a home you're interested in and ready to make an offer. That first offer needs to be in writing - for a re-sale home here in the Cary area we'll use the standard NC Offer to Purchase Contract. Along with the written offer, you will write an earnest money check.

What is Earnest Money?

Think of earnest money as a deposit on the home, a show of good faith. If/when your offer becomes a contract your money will be held in trust and subject to NC Trust account regulations. At the time of closing the earnest money deposit will be credited towards your purchase of the home.

Who is the Earnest Money Check Made Payable to?

Typically the Listing Company. Most listing firms in the Cary area maintain a trust account for purpose of holding earnest money deposits, however some small firms choose not to maintain a trust account, in this case we can use the CaryRealEstate.com trust account or use the trust account of a local real estate attorney.

How much should the Earnest Money Deposit be?

Technical Answer, the amount of earnest money is negotiable between buyer and seller. Real life answer, usually around 1% of the offer amount. Think of your offer as a gift to the seller - the terms and condition of your offer are like the wrapping paper and bow. The larger the earnest money amount the 'prettier' the bow.

What Happens to the Earnest Money if I Don't Close on the Home?

Notice I saved this one for last? The best answer here is, IT DEPENDS! You, the buyer, may or may not be entitled to a refund of your earnest money - depending on why the closing did not occur - the offer to purchase is the guideline. Here's the catch - even though it may appear obvious that you are entitled to a refund, both parties (buyer & seller) must sign off on how the earnest money is disbursed before the firm holding the earnest money can release the money. If the parties can not agree then it can become a legal matter.

Could I write more about the intricacies & nuances of earnest money? Absolutely. Would you still be reading, probably not! Please let me know if you have any specific earnest money questions that I did not address.

Please Note: The North Carolina Real Estate Commission has a Question and Answer Brochure available here.

Speechless Sunday: John Deere Ice Cream at the NC State Fair

David Williams (CaryRealEstate.com) — Sat, 24 Oct 2009 23:30:58 -0700

HVCC on it's way out???? Let's Go HR 3126

David Williams (CaryRealEstate.com) — Sat, 24 Oct 2009 23:22:50 -0700

Our new friend - HR 3126!

It looks like an amendment has been added to the Consumer Financial Protection Agency Act. The amendment would begin a phase out of the current HVCC and restore the ability for lenders to order appraisals directly - the bill has just left the committee so it has several steps to go but it is encouraging to know that while well intended the problems with HVCC have been recognized on a national level. The bill is HR 3126 - I was gonna be proactive and post the relevant language but the document is over 200 pages - if you google 'hr 3126 and hvcc' you'll get all kinds of info.

Everybody Loves the Fair - My Annual Pilgrimage to the NC State Fair

David Williams (CaryRealEstate.com) — Fri, 23 Oct 2009 23:14:39 -0700

Having lived in the Raleigh/Cary area my entire life I'm not sure if I've ever missed a visit to the NC State fair since I was a child. If I was going for the first time as an adult I would be really confused as to all the hoopla - but to me it's a great annual tradition - for me it is the true pendulum swing from the warm summer months over to the fall. I hit all my favorites . . . Al's French Fries, Hot Wisconsin Cheese, Mini Hot Dough-nuts, John Deere Ice Cream and of course the farm animals!

Google & Bing - No Longer "Just The Facts Ma'am" - They're Going For Touchy Feely

David Williams (CaryRealEstate.com) — Fri, 23 Oct 2009 22:54:31 -0700

Via Jenny Kotulak Oakville Real Estate (Broker RE/MAX Aboutowne Realty Corp. Oakville, Ontario):

Just when some people were thinking that Twtter was never going to be as popular as Facebook, doesn't Google and Microsoft make the big announcement this week that they will be integrating Tweets into their search results. Very interesting news. Google says it has come to an agreement with Twitter and plans to go live in a few months and Microsoft has already launched a new beta feature on Bing.

So now in addition to searching Google for "just the facts ma'am", you will also be able to search for thoughts and feelings. Huh? Well isn't that how a vast number of Twits or Twitterers use the forum?

Real time updates in 140 characters or less. Instant communication with whoever cares to listen (follow). Yes, many current world events and major news stories are spreading like wildfire through the Twittersphere. But have you had a really good look at some of the gobbledy goop that is being tweeted daily? This is what is going to end up on Google?

Pick a subject, any subject. Go onto Twitter and someone will be discussing it. If they like something they will retweet it. Every other tweet contains a link to somethng else, or so it seems. Want spam? Lots of it there also. Many people claim they are using Twitter very successfully for business. It is a social networking tool that some use very effectively.

You can be sure that many of your followers would also love to sell you something. Twitter is a free, open marketplace. How many adult content followers have you had to block? Hint: When you see someone who wants to follow you is already following hundreds of people but they only have 1 or 2 people following them, the red flags should go up. Block them immediately.

Hopefully Microsoft and Google will have a good screening process before incorporating tweets into their search engines. Isn't Google already crowded with information? If I search Google for croissants am I going to see a tweet telling me what Billy Bob had for lunch today or how about a search for diapers? A tweet about how many Mary Sue soiled today? As of now I can go to Twitter if I want to know. I'm really not sure I want to go to Google to find out. How will Google and Bing determine who gets top rating and higher page ranking?

The Google and Microsoft Gods must be very smart people so I'm sure the logistics have been ironed out.

What's next? Are our Facebook status updates going to show up on internet search engines? Actually it would seem that Microsoft has future plans for just that, although a release date hasn't been set yet.

Be careful what you blog. Be careful what you tweet. Be careful what you say on your Facebook status updates. Your thoughts and feelings are about to become public domain.

Jenny Kotulak Broker

RE/MAX Aboutowne Realty Corp. Brokerage, Oakville, Ontario

Past President Oakville, Milton & District Real Estate Board

Photos and content may not be copied without permission.

Why Does the Power Company Advertise?

David Williams (CaryRealEstate.com) — Thu, 22 Oct 2009 20:07:07 -0700

I was driving home this evening and had tuned into the local radio coverage of the Thursday night UNC Tarheels vs Florida State Seminoles football game and the first thing I heard was "Welcome back to the Progress Energy pre-game report" and it hit me - why does Progress Energy Advertise?

I know they are publicly traded cause I own stock in Progress Energy. I'm pretty sure the utility rates they charge are regulated. I also know, and this is the one that makes me go hmmmmm, they are the only option for power!!!

So Why do they advertise?

Don't get me wrong, I believe they add value to the community via the many charitable events they contribute to - but if you are in the marketing department and you have 100% market share, what are your advertising goals?

Got me thinking though - what it would be like if you were the only agent in town!

Do you Want to Buy this House? Do You Want to Buy this House? Do you want . . .

David Williams (CaryRealEstate.com) — Wed, 21 Oct 2009 22:54:27 -0700

How do you find out if a buyer wants to purchase the home you just showed?

I know that some new agent training manuals recommend that when you finish showing a home you ask the buyers a straightforward question - like "Do you want to buy this home?" I know seasoned agents that use this approach also. Well that may work for some but for me it doesn't fit my style and personality. So How do I know if my buyers want to purchase a home?

In my buyers consultation meeting I let them know I will provide them with 3 Levels of information

Level 1 - The basic MLS sheet report along with my knowledge of the local Cary, NC market in my head.

Level 2 - A 'biography' of the house. Days on market, tax value, any price reductions, what owners paid, how many owners, who built the home, overall price range of the subdivision etc

Level 3 - A Buyers Value Analysis. If the buyer is considering placing an offer I want to provide the buyer with the market value of the home - I let them know that I temporarily disregard the sellers asking price and I act as if they already owned the home and have asked me to come do a listing presentation and inform them of market value - I have found this to be a great way to get the buyers in the mindset of true market value of the home - then after I have compiled the value analysis I present the findings to the buyer which provides a great platform to build a negotiating strategy on.

HOW it plays out -

When I show homes the first time I tell the buyer we are at level 1 - for any home they are interested in all they need to do is ask me to provide level 2 info. If they are considering submitting an offer then ask for level 3 info.

My buyers end up telling me which homes they are interested in by saying, David, Can you go to level 2 on this home etc. Works well for me and provides a great value added service to the buyer clients without having to ask them at the end of every showing, Do you want to buy this house?

Speechless Sunday: Hurricane IKE Relief Efforts - September 2008

David Williams (CaryRealEstate.com) — Sun, 18 Oct 2009 22:11:58 -0700

How to WOW your Sellers by being proactive with updates

David Williams (CaryRealEstate.com) — Wed, 14 Oct 2009 23:17:20 -0700

Have you ever picked up the phone to have a seller client ask - Hey, I just noticed the house down the street went under contract - Why wasn't it ours?!

When this happens the agent is often on the defensive /reacting to the situation, not to mention caught off guard.

Here's a simple way to be pro-active and create a WOW experience

Set-up a listing activity search in your MLS that corresponds to your listing - so that it will notify you when a new competing listing hits the market, a price changes or a property goes pending.

Let's play this out

- you receive notification that a competing listing just went under contract/pending

- you look to see who the selling agent is

- did that agent show your listing?

- if they did - give them a quick call, without being confrontational say something like - Hey I noticed that you just sold 101 elm street, congratulations, as you know I have the listing down the street, I know that you have shown it - do you mind if I ask what pulled your buyers to the home they choose over my listing? I would love to be able to provide that indo to my sellers when I call them in a few minutes. Oh, your buyers wanted a first floor master and yep, with my listing the master is on the 2nd floor. Okay, Thanks!

- or maybe the agent did not show your listing - again, reach out to the selling agent with a quick, courteous call to congratulate them and ask - I noticed that your buyers choose not to look at the listing I have down the street, Oh, your buyers wanted a first floor master and yep, with my listing the master is on the 2nd floor.

- now that you have this info you call your seller - now you are the one providing information - Mr/Mrs Seller just wanted to update you - the home down the street just went under contract - so the good news is one less home you are competing with - I know you may be wondering why the buyers would choose that home over yours, well I have spoken with the agent that represented the buyers, the buyers wanted a first floor master bedroom.

____

I think the key is being pro-active!

Of course I know that all scenarios will not play out this easily - but hopefully it's a nugget that you can tweak to make your own.

NAR wades into ethics of blog comment moderation

David Williams (CaryRealEstate.com) — Wed, 14 Oct 2009 22:21:01 -0700

Via Ben Martin, CAE - VA Assn of REALTORS® (Virginia Association of REALTORS®):

Hey Realtors: If someone posts a comment to your blog that disparages another Realtor, what do you do? Delete it? Edit it? Ignore it?

Under amedned and new Standards of Practice in NAR's Code of Ethics approved by the Board of Directors last week, Realtors will be obligated to delete or issue a clarification when a commenter makes a false or misleading statement as soon as the publishing Realtor learns that the statement is false or misleading. This has opened up a proverbial can o' worms with many unanswered questions, such as:

How does this affect Section 230 which protects Internet publishers from liability for comments posted by third parties?

Who has the burden of proof for proving that a statement is false or misleading?

What qualifies as a "clarification"?

There's a healthy debate on the matter over at VARbuzz, where this story broke. Have a look and chime in!

Wordless Wednesday: Calm before the Bat Storm

David Williams (CaryRealEstate.com) — Wed, 14 Oct 2009 22:03:49 -0700

Sales Meeting Blues? Here's a GREAT way to engage your agents!!

David Williams (CaryRealEstate.com) — Wed, 14 Oct 2009 21:44:03 -0700

Ever wanted to ask a question in your sales meeting but you know the agents will not be excited to raise their hands for a multitude of reasons. Like a question designed to see how well they understand agency law or how they would handle a specific situation etc.

I was in a class a few weeks ago at our state convention and the presenter conducted a LIVE Results Poll where we texted in our answers! Think of the 'Ask the Audience' part of Who Wants to be a Millionaire.

I've found it super easy to setup the poll question - with your multiple choice answers - you can then add the poll question directly into a power point presentation. You ask the question and the agents text in their choice of an answer -and the results show immediately on the screen! I think this could be a very cool way of engaging the agents and gaining great insight while providing the agents a chance to answer anonymously.

The vendor is polleverywhere.com They have a free version and more feature rich versions at a cost.

I hope this helps bring some energy and relevant training into your sales meetings!