Derek Bauer's, Door to Dreams Team - Farmington Hills / West Bloomfield. Serving Oakland and Wayne Counties

Our new 30 second Team TV Commercial... would like your input

Fri, 25 Jul 2008 17:32:13 -0500

Hello, all! It has been an interesting last couple months, and I unfortunately have not been on here in about 75 days!!! I started a weight loss group, then fell off the face of ActiveRain.

Well, I am BACK! My Team and I moved offices recently (same company, but different office), and a lot of other things have happened in my life. I owe an apology to everyone in the weight loss group I started, and I am going to make-up for my absence and my lack of follow-through, so stay tuned.

Now, the purpose of this post ... WE HAVE A NEW TEAM COMMERCIAL! I value the input and opinion of my fellow colleagues and would like to hear what you think...

http://www.youtube.com/watch?v=vJEE8m_Z9HY

Look forward to your response! Thanks...

Derek Bauer, Associate Broker / Realtor
Real Estate One - Farmington Hills / West Bloomfield
http://www.DoorToDreams.com
derek@doortodreams.com

Excuse me ... will you please show me? ...

Mon, 14 Apr 2008 20:57:04 -0500

While this post isn't super thought-provoking (afterall, tomorrow is tax day, so we are likely all spent anyway!), this post is something many of us Real Estate practioners likely encounter, and I think it boils down to a question of ethics. It has happened to me over the years a handful of times, and most recently a couple times...

Have you ever been showing a home, AS A BUYER'S AGENT, and had some prospective buyers show-up without an Agent and ask you to show them the property?

Fellow Agents - What is the RIGHT thing to do in your eyes? How do you handle this?

Members of the public - Do you do this? How do you expect us to respond? How have you been responded to in like situations?

I always politely explain that I am with clients and that my clients must receive my undivided attention at that time. Furthermore, IF my clients did not care for the property, I explain that if they do not have an Agent they are welcome to contact me, and I provide them a card. IF my clients DID like the property, I do NOT give them a card and explain they will need to contact the listing Agent for a showing. Afterall, ultimately our fiduciary responsibility is to a client, not a customer.

Looking forward to hear what YOU think.

_______________________________________________________________________________

For any of your Buying or Selling needs in Southeast Michigan / metro-Detroit, please visit http://www.DoorToDreams.com today!

Listing Short Sales: my NEW personal policy | What do you do??

Fri, 04 Apr 2008 07:40:43 -0500

Like any industry, and any profession, lack of change or adapting can make a slight to significant impact on one's business. There are a few things in our current market / economy that make me cringe, yet I hear/see them EVERY DAY and they are becoming more and more common ... "lease with option," "Buyer with credit issues...," and "short sale," just to name a few.

Whether representing a Buyer or Seller, short sales are time-consuming and can be frustrating. IF the listing Agent is on-top of things, representing the Buyer can actually be a decent experience. That seems to be the minority of the time (in my experience, anyway), but I digress ... this post is about representing the Seller.

Because these are SO time consuming and labor-intensive, and MAY or MAY NOT result in closed business, I have a new personal policy, and am STRONGLY encouraging my Team to implement the same so as to not waste their valuable time:

Prior to taking a Short Sale listing, I am now going to do ALL of the following:

1. Be sure the Seller has secured, completed, and returned a hardship package, and/or whatever paperwork that particular lender or lenders are requiring.

2. Find out EXACTLY how far behind the Seller is on their payments. NEWSFLASH - if they are current or only a month or so behind, get ready for a L O N G R I D E !!!!!!

3. Have a Letter of Authorization signed by the Seller giving me permission to speak with the bank in their stead.

4. Collect a non-refundable, upfront fee of $500 to $1,000 depending on the situation and how many financial liens are on the property.

NO EXCEPTIONS!

CURIOUS WHAT YOU THINK! Am I missing something? What do you do? How do you handle Short Sale listings .......... or do you?

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For all of your Real Estate needs in Southeast Michigan and metro-Detroit, please rely on Derek Bauer's, Door to Dreams Team at Real Estate One. Please visit our website for more at, http://www.DoorToDreams.com.

House Swapping --- huh?

Tue, 01 Apr 2008 22:18:34 -0500

Today I received contact from a client of mine who saw House Swapping on a morning show and asked me if it was a good idea for their home. Hmmmmmmmmmmm

I explained that I was not familiar with House Swapping (I understand it for vacation or temporary purposes - but permanent??), I had no experience with House Swapping, and that I would have to look into it and get back with them. Here are just a few websites that talk about House Swapping:

http://www.onlinehousetrading.com

http://www.house4trade.com

http://www.goswap.com

http://www.domuswap.com

Have you had experience with this? Good / Bad? Advice? Anxious to hear what you have to say.

Do you do Buyers, Sellers, or Both?

Sun, 30 Mar 2008 20:36:21 -0500

I find that year upon year, my business is divided almost 50/50 between acting as a Listing Agent and as a Buyer's Agent. Today I was reminded for some reason that over the years I failed to gain the business of a couple prospective Buyers because I didn't solely work with Buyers.

In hindsight, I think these particular individuals would have been more problematic then not, so all's well that ends well. However, if I were a consumer, I would want my Agent to be active on BOTH sides of transactions so they best understood the issues, the negotation process, what weighs on the minds of Buyers and Sellers, etc.

Now, if I am getting a divorce, I don't want a patent attorney representing me ... but if I'm buying a house, I want someone that is active in Listing and Selling and knows both sides.

What about you? How is your business split? What is your take on this and that of your clients?

Is this GREED, or am I way off-base on this one???

Thu, 27 Mar 2008 21:33:28 -0500

I am in the process of putting together a lease with an option to purchase ... VERY likely these folks will purchase the home in less then 6 months. I represent the Seller, the Tenants/Buyers have their own Agent, and I am doing all of the paperwork!

Today, I get an email from this Buyer's Agent wanting to confirm with me that they will receive 1/2 Month's rent worth of compensation for the Lease, and then 3% once the Tenants exercise their option. I responded and basically said, well if that is how you want it done, I suppose we can, but I feel that is quite greedy. This Agent went on to say that is their Broker's policy and I should call the Broker if I have an issue with it. Not something I have time for, nor care enough to get involved in ... I didn't argue, I just stated I felt that was greedy.

I will be collecting 1/2 Month's worth of rent upon Lease signing, and will take x% commission as agreed-upon when it sells, LESS that 1/2 Month's rent that they had already paid, ONLY A FEW MONTHS PRIOR. In my mind, it is just not at all fair that the Seller dual compensate an Agent for the same party.

VERY curious to see how you, my colleagues and ARers, feel about this! Who do you think is right in this case? How would you or how do you handle this very same situation?

What is the perception of DETROIT in your area?

Mon, 24 Mar 2008 12:38:17 -0500

You can imagine how unimpressed all of us in metro-Detroit and elsewhere in Michigan are in the way our City and even State look today given the Mayor's recent felony charges. We have had enough challenges over the years and this surely doesn't help! Detroit has made so many strides in recent years, we have some great Sports Teams and facilities, a riverfront, casinos, and more! Dennis Archer, Detroit's former Mayor, did some spectacular things.

For those of you out-of-the area, how is Detroit perceived in your area? I know us Michiganders are VERY interested in hearing. We really have an amazing state, with lots of beauty and resources. It's a shame we have to be in the negative spotlight again...

I need to get into shape!! Do you?

Sun, 23 Mar 2008 18:39:22 -0500

I have battled extra weight my entire life and it is nothing for me to fluctuate 30+/- pounds in a given year ... gain it, lose it, gain it, lose it. I am always finding excuses to not exercise. Have you ever said aloud, or to yourself, the following?

1. I need to workout, but I'll start tomorrow
2. I need to workout, but I have way too much work to do
3. I need to workout, but I'm too tired
4. I need to workout, but it's too late to drive to the gym, the weather is too bad, etc.
5. I need to workout, but I feel sick so I'll wait until I feel better
6. I need to workout, but I have to get on ActiveRain, or this website, or that website
and on, and on, and on...

WELL, FOLKS, THE EXCUSES STOP FOR ME ... NOW! I knew I had gained weight lately, and since the batteries in my scale died about 6+ months ago, I haven't been weighing myself. Quite honestly, I didn't want to. I don't feel as good as I should, my clothes don't fit like I want them to (in-fact, I want clothes in a smaller size), and I'm sick of it! My sister said something today that is going to stick with me. She said, "God only gives us one body..."

I WANT/NEED TO GET INTO SHAPE, DO YOU? I am looking for other like-minded individuals ... those that have been waiting and waiting and waiting to get started. Are you that person? What are we waiting for??

I HAVE CREATED A NEW GROUP ON HERE ENTITLED, "GET FIT 2008," AND IF YOU ARE IN THE SAME BOAT AS I, PLEASE JOIN! Here is a link for you http://activerain.com/groups/getfit2008

Let's get fit, improve the quality of our lives, and develop some new friendships and business relationships! Now we can use ActiveRain as a springboard to get fit ... not an excuse not to!

I will be updating this daily with my log of activity and progress, as I plan to get on the treadmill morning and night. This will keep me inspired and accountable ... hopefully it works for you, too!

Posting my daily progress here http://activerain.com/blogsview/438263/Progress-Daily-Log

Proud to introduce, the "Door to Dreams Team" !!

Sun, 23 Mar 2008 17:02:34 -0500

I am extremely proud to announce and introduce the Door to Dreams Team at Real Estate One! We are a Livonia, Michigan Real Estate Team consisting of 4 Agents, with a wide array of experience and skill sets. We service both Buyers and Sellers in numerous communities, we welcome and appreciate your referral business, and take excellent care of our clients. Allow me to introduce each member so you can see how we may be able to best service you or your referral...

You can click each Team Member's picture to access their ActiveRain page if you want to send them a message - each are NEW to ActiveRain, so please do welcome them:

__________________________________________________________________________________________________________________________________________________________________________________

Mariana brings a lot to the table, and is of great value to the Team. Her witty charm and knowledge are sure to impress you, as will her honesty and integrity. Mariana makes it a point to listen to her clients and find the right solution for them. Mariana is very outgoing and when others say it can't be done, Mariana will prove otherwise.

Mariana was formally educated overseas and hails from Romania, where she received a degree in Economic Science from the University of Economic Studies in Bucharest.

Prior to becoming a Realtor® nearly 6 years ago, Mariana was a business owner and continues to utilize the skills she learned in that capacity to further assist her Buyer and Seller clients today.

__________________________________________________________________________________________

Susan is a very hard worker as a model, Sign Language Interpreter, and more.
We are very excited to have Susan's bubbly personality.

Susan has a BA from Madonna University where she played four years of soccer, and graduated with high honors.

More about Susan will be coming soon and we welcome her!

__________________________________________________________________________________________

As Team Leader, Derek oversees the fine members of the Team, in addition to working with many Listings and Buyer clients of his own. Derek attended Ferris State University and received a B.S. in Business Administration with a Minor in Communication, and a focus in Marketing and Business Law.

In 1997, Derek immediately went to work for Andersen Consulting (now Accenture), the world's largest process and technology consulting firm. Making a decision to cut-back on the travel, Derek held sales and business development roles in both a .com company, and a Fortune 700 company, and was a top producer in both organizations.

Derek has received numerous awards for sales volume and customer service, has been recognized as a top Realtor® in a national publication, and most recently was a guest lecturer on Real Estate and Technology at Central Michigan University.

You can rest assured that when you hire Derek's, Door to Dreams Team, you will experience the best in service, resourcefulness, friendliness, and results!

___________________________________________________________________________________________

Thank you and please do keep us in mind when any of your friends, family, coworkers, neighbors, or otherwise are in need of professional services in Buying or Selling!

Agent Photos on Listing Yard Signs ... YAY or NAY??

Wed, 19 Mar 2008 10:37:06 -0500

I try to think out-of-the box as much as possible. Some things I do because that is the way they are expected to be done ... other things I do because no one else is, and/or I find it unique or cool. My business card is not a show-stopper, but I do receive compliments on it. I am frequently asked, as I am sure you are, "Why do Real Estate people put their pictures on their cards?" To which my canned answer is, "I believe we do it because the nature of our business is so personal ........"

But pictures on the sign? I see it a lot. That is something I don't do, and can't ever see myself doing. Maybe if I was movie-star gorgeous ... but that ship sailed ... heck, it wasn't ever at the dock!!! Actually, probably not even if I was movie-star gorgeous would I do that.

Agent's photos on signs ... yay or nay? What do you in your business, and why? Do you think you get or would get more business if your photo was or was not on the sign? I'm anxious to hear...

What about you, the public? What do you prefer to see? What appeals and doesn't appeal to you?

Are you selling yourself ... Or just the Broker??

Sun, 16 Mar 2008 19:32:25 -0500

I very often have Agents tell me (or ask me why) they just don't understand why they didn't get a particular Buyer or Seller client ... afterall, they spent 30+ minutes talking about how great the company they work for is, how large the company's presence is, how impressive the company's list-to-sale ratio is and/or the company's ratio of asking price to sales price, etc.

"I just don't get it ... they went with someone else ... from the same company I work for!"

Hmmmmmmmmmm - guess you did a great job selling your Broker ... BUT, how much time did you spend selling yourself? Selling the value YOU can add? The skillset you can bring and how you are different/better? Of course the company you represent is important ... if you weren't impressed and sold on them, you likely wouldn't be working there (at least I hope not). However, YOU are the go-to person, TO the Seller / Buyer, FOR the Broker. Therefore, they best be equally or even moreso impressed with your individual skills, then those of your Broker. IF they are impressed with your Broker, but not you, your officemate may get the call, the business, and the paycheck.

This happened to me my first year in the business, but after I learned what was happening, I changed. So, I have first-hand experience with this.

I hope some NEWER AGENTS, and/or some that may be struggling right now get some value out of this post ... and I look forward to hearing the insight of others, so that all of us can continue to learn from one another ...

Please post your thoughts on this...

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For Southeastern Michigan / metro Detroit Real Estate, please visit http://www.doortodreams.com

Foreclosure File - You won't sell it to me, WHY???

Sun, 16 Mar 2008 14:28:21 -0500

I am presently representing a 3-time repeat client who is purchasing an REO property, owned by a very large financial institution. Two things here are important ... the lender that owns the property, and the company that will be writing the loan for the property, are one-in-the-same.

FHA loan, great value for what the property has to offer, and very minor issues as a result of the inspection. At one point in time the roof had leaked and there was an old water stain. As a result, this lender is fighting amonst itself that the property it owns, and is slated to lend on, is not in a condition fit to sell. WHAT?!? My inspector is as good as they come, and is a mold and air quality expert. The inspector has emphatically told this lender that there are no environmental issues, in addition to their having the entire inspection, and it is all falling on deaf ears.

Now you would think that IF a lender owned a property, it should:

A.) Do whatever it deems necessary to see it into a fit condition to sell
B.) Do whatever it can to see that it can close, ESPECIALLY if they are writing the note on it!

OH, a third and fourth relevant variable ... the individual who did the FHA appraisal, who was previously an FHA underwriter, said there shouldn't be any issues! The Buyer is fully approved.

I just want to shake some of these banks and the decision-makers at them. If logic was introduced, things might improve drastically out there!

Any like stories in your business? Unique situations that defy logic and understanding?

6783 Edgewater Troy, MI 48085

Fri, 07 Mar 2008 22:29:28 -0600

GORGEOUS, "Crate & Barrel," end-unit condo in a private, naturesque setting. Faux-painting, hardwood floors, Granite Kitchen, 2-way fireplace and so many other valuable features to this fantastic home. A good value, a great home, and a must see...

Click here for more information about this condo. Call Derek Bauer with the Door to Dreams Team for more information. Derek can be reached at 734.678.4745

How much of a Lease payment should a Tenant get credit for???

Fri, 07 Mar 2008 22:06:13 -0600

Not so fast...

In my market, the number of leases and prospects interested in leasing have skyrocketed! I have authored and closed more leases in the last 2 years then in my entire career combined.

Many folks are interested in an arrangement where a certain percentage of their monthly payment is applied to an ultimate purchase price should they choose to exercise their, "first right of refusal." Whether I represent the Lessee or Lessor, I think that is fantastic and can most often be a win-win. In the event they do not exercise their right to purchase, they forfeit that which would have been a credit toward their purchase price.

What has your experience been? What is common where you are located? Do you think 20% of the monthly lease payment earmarked as ultimate equity and credit toward a down-payment is a fair number?

Visit http://www.doortodreams.com for anything Real Estate in Southeast Michigan!

Livonia, MI Property Taxes - Livonia, MI

Thu, 28 Feb 2008 22:44:04 -0600

Livonia, MI Property Taxes - Livonia, MI

Like most places, Livonia property taxes are the talk of the town to Livonia homeowners nowadays. Many Livonia, MI homeowners are seeing drops in their SEV (State Equalized Value), but what does that mean for the property taxes these Livonia homeowners pay?

I am appearing on behalf of some clients before the Board at the City of Livonia to appeal their Livonia property taxes. This is a process that in most local communities needs to be completed by the middle of March. There is a local process, and then a Michigan Tax Tribunal if necessary.

Livonia, MI property taxes are very reasonable for the Livonia city services that are provided at approximately 34 mills, as the business and industry tax basis in the area helps to keep the residential millage rates down.

In regards to Livonia property taxes, Livonia City Treasurer, Dennis Wright, has extended the due date for Winter taxes from February 14^th until February 29^th, 2008.

If you are a Livonia homeowner and you are concerned about your Livonia property taxes and think they are too high, please do contact me. Obviously the government is due the money we rightly owe them for the services we rely on and depend on, but the rate of payment of the taxes needs to be consistent with what the law says. Should Livonia homeowners be paying Livonia property taxes on a value inflated beyond or even well beyond what their home could command?

Do you have a question about your Livonia property taxes? If so, please do contact me. I can be visited online at http://www.doortodreams.com/, emailed at derek@doortodreams.com, or you can phone my office at 7-Mile and Haggerty at 734-591.9200.
_________________________________________

Derek Bauer is an Associate Broker and Realtor® with Real Estate One, Michigan's Largest Real Estate company. Derek is also the lead of the Derek Bauer, "Door to Dreams Team." Derek Bauer is licensed in Real Estate in the State of Michigan, is not an attorney, and can not and does not provide legal advice and/or counsel.

And a Seller just told me...

Sun, 24 Feb 2008 10:09:55 -0600

"AND IF THE FEEDBACK IS ANYTHING OTHER THEN, "WE ARE INTERESTED AND MAY MAKE AN OFFER..." I DON'T WANT TO HEAR IT!"

Very often on AR, we see posts about feedback, and its value, or lack thereof. I just got off the phone with a 3-time repeat customer who told me that I need not bother providing them feedback, unless it is positive and there is interest there. They have completed the modifications I recommended, and priced where I recommended. For these reasons, they will nothing more but wait for the buyer that appreciates what is there.

I applaud them for that, and I think today was a first ... as I've never been asked to NOT pass feedback along.

Have you?

"Mr. / Mrs. Seller - you might just want to remove that..."

Mon, 18 Feb 2008 11:38:58 -0600

WEB CAM THAT IS OVER THE MASTER BED!!! I kid you not, just when I thought I was getting closer and closer to seeing it all, I showed a home this weekend that had a web cam mounted above the headboard in the Master suite ... not in a child's room or a nursery, where I have seen them before. Gorgeous home, very tasteful and classy ... then that out of nowhere ... BAM!

I know I will get a call for feedback ... and I will likely chuckle to myself while I give the feedback.

I've had some difficult conversations with Sellers in the past about things that needed to be changed in their home (well, before I brought the Stagers in to do it, that is), but I am VERY glad I am not the listing Agent on this one, as that would likely be an awkward conversation to say the least.

What is the craziest thing you have seen while showing homes? Have you had difficult conversations with a Seller over something that needed to be changed in their home?

Is this the latest big issue in LEASING? Have you experienced this???

Sat, 16 Feb 2008 16:48:56 -0600

I just returned home from meeting some prospective new tenants at a home I represent. A very nice couple, put in a very unfortunate situation.

They have been leasing a home for between 2 1/2 and 3 years, making timely payments. According to them, the landlord quit making the payments on the note, the foreclosure process started, and the sherriff sale took place in the August timeframe. At that time, the Landlord promised the tenants they should be able to stay through April of 2008 with no problem. Unfortunately, as we all know, that is not the case here in Michigan, as the redemption period is 6 months.

Now with the redemption period over, they are forced to move out in the next 10 days!! I have heard about this going on, but have not had any tenant clients in this situation. I think my new policy is to also gather qualification information on the landlord, when I represent the tenant. Maybe a mortgage status letter.

Should we as Buyer/Tenant Representatives also be asking for the financial qualifications of the Owner/Landlord to protect against this? Have you had experience with this?

I would like to hear as much input from you my colleagues as possible on this one...

A Tribute to a fine man and role model...

Fri, 15 Feb 2008 18:04:29 -0600

It is past 6:30 on Friday evening and I am sitting at my desk finishing-up my tasks and preparing for showings tomorrow. It has been an emotional week for me, and today with the shootings and deaths, it made me sad to reflect on all the bad we see most times when our attention is turned to the media (less the election news, of course).

Proudly displayed in my office window is a tribute ... to my Granfather ... which I have been sitting staring at for the last 20 minutes. A poem I wrote and placed on his casket, and that went with him. We are nearing the 5th anniversary of his death and I wanted to turn my emotion in a different direction tonight ... a positive, heartfelt tribute.

I believe he saw this and it made him smile. I feel, too, that he has been in the presence of his great grandsons, who never got the opportunity to meet him...

So, as I close up shop for the day and make my 25 minute drive home, I am going to reflect on this ... with the radio off so I don't hear about the doom and gloom in the world today, the death, the shootings (my heart does, of course, go out to those victims and their families).

Something greater then us overcame me to post this tonight ... and I'm glad that I did... Be well and take care of each other. Be sure you hug someone tonight and tell them how special they are to you...

"I'm sorry, sir, I don't understand what you mean..."

Sun, 10 Feb 2008 19:46:44 -0600

A friend of mine was trying and trying to get the current lender to lower his rate, as it had adjusted and was around 10%, although the payments were all timely. Numerous phone calls, and no resolutions. Now you would have to know this individual's personality to truly appreciate this story, but it went a little something like this...

He called the lender one day and asked where he should mail his keys to. The person on the other end was a little dumbfounded. Long pause ... then, "I'm sorry, sir, I don't understand what you mean." He replied, "Yeah, I have tried to get your company to work with me, and since you won't, I just need to know where to mail the keys."

"I don't understand sir, what do you mean?"

"Well, I can't afford to stay here, you won't lower my rate, so since I'm leaving the house I figure the least I can do is mail you the keys since you will own it. It's the least I can do."

SAME CONVERSATION SOMEONE ELSE GETS ON THE LINE AND HE GOES THROUGH THE SAME STORY

"Sir, I'm sorry your situation has not been resolved on previous calls. I can authorize lowering your rate to 5.5% and lock it for 5 years. It won't take effect for your February payment, but it will for March. Will that help you?"

"YEP! Thanks! I'll be looking for the paperwork."

Worth a shot, eh!? True story. Have you seen a client better their situation by being creative?

BPO Compensation - Should it change?

Fri, 08 Feb 2008 08:34:53 -0600

I recently read Theron Patterson's post about BPO Payments and I had a couple comments, and questions. I learned some interesting things about BPOs (well, in Michigan at least) while I was completing my Broker Training a couple years back.

1. In Michigan, it is not legal to be compensated for BPOs unless you have an Assoc. Broker license.

2. In Michigan, it is not legal to be compensated for a BPO unless your purpose in doing the BPO is to get the listing, not just provide an estimate of value.

3. In Michigan, it is not legal to be compensated as a licensed Salesperson in any other fashion then directly through your employing Broker. No exceptions

Per Article 26 of the Occupational Code, Sec. 2601, the following is stated:

(i) A market analysis performed by a person licensed under article 25 solely for the purpose of assisting a customer or potential customer in determining the potential sale, purchase, or listing price of real property or the rental rate of real property as long as a fee or any other valuable consideration is not charged for that analysis.

(ii) A market analysis of real property for a fee performed by a broker or associate broker licensed under article 25 which does not involve a federally related transaction if the market analysis is put in writing and it states in boldface print, "This is a market analysis, not an appraisal and was prepared by a licensed real estate broker or associate broker, not a licensed appraiser." Failure to do so results in the individual being subject to the penalties set forth in article 6.

The Code goes on to say ... and this is the important part ...

A market analysis can be performed by real estate licensees, at no charge, as a regular part of their business to determine a sales price, a buyer's offering price or a rental fee. Brokers and Associate Brokers (but not Salespersons) can perform a price analysis for a fee as long as the required disclosure as shown in paragraph (ii) above is made.

What is the law in your state? Should this law be changed in Michigan?

Getting a R/E license ... What do you think?

Thu, 07 Feb 2008 20:06:25 -0600

I want to preface this post by saying I have had the pleasure of working with MANY competent, professional Agents over the years. Every time I have a transaction with like agent, I am grateful. This brings me to my story...

I was in a Continuing Education class in late 2007 and the instructor was speaking on the subject of property taxes either remaining the same or increasing with falling property values (which I believe is the next HUGE R/E topic - sidebar). The instructor mentioned millage rates and a LICENSED, PRACTICING REAL ESTATE PROFESSIONAL raised their hand and said...

"What is a millage rate?"

WHAT?! The Agent next to me was scrolling through his Palm Pilot, and I was responding to a text message from a client, yet we both immediately looked at one another in awe at what we had just heard. Now, maybe your state doesn't have millage rates, but it is how property taxes have been calculated in Michigan for years and years and years and is something that, I believe anyway, that everyone should know.

Is it too easy to get a Real Estate license? I certainly would be frightened if I was a member of the general public and someone representing this signifcant an event in my life didn't know what a, "millage rate," was. I studied business law in college, I have taken Real Estate law courses, and have completed my Broker training and license and still certainly don't know everything and will continue to learn and better myself.

I want to hear from you ... what are your thoughts? What are the requirements in your state?