sellers: An Agent's Lack of Experience Helped My Buyers Get a Great Deal!
- 08/27/10 01:28 AM
As a listing agent, it's not the best idea to show your cards and your semi-lack of experience. I submitted an offer a couple of weeks ago in the million dollar price range. My buyer decided they wanted to do an all cash offer. Great! What does it take to get an all cash offer excepted more readily than a financed deal in this market? Have all your ducks in a row. This means explain to the buyer that an all cash offer means NO contingencies! No contingencies on selling a house. No contingencies on receiving funds from some investment you … (6 comments)
sellers: Showing Etiquette While Another Agent is There Too
- 05/28/09 10:02 AM
What is the showing etiquette where you are? What I'm used to is calling a showing service and scheduling my showing. The showing service then tells you if there is another showing already scheduled during that time, but it's just to let you know that someone else might be there too, no biggie. You don't reschedule or anything. You go to your showings. If someone is there showing their buyers, you politely knock on the door (as it's usually wide open), walk in, and introduce yourself. You then proceed to let them know you'll go ahead and take your buyers upstairs, … (42 comments)
sellers: Why Are So Many Homes Vacant & is it Good or Bad?
- 05/21/09 08:15 AM
I was at the Women's Council of REALTORS® luncheon today, and I heard a very interesting statistic from the guest speaker. He said that, on average, 45% of the 11,505 listings currently on the market in Austin, TX are vacant. Why are they vacant? Two months ago, this number was 52%. For the most part, "people" are saying they can't afford to buy a new home without selling their current home first, but is that actuality? Are people really waiting to sell their current homes before buying? If they are, why are there so many homes vacant? Then, the question was how … (18 comments)
sellers: Are you Tracking your Website Stats?
- 05/05/09 12:57 AM
I've heard from many people that their business is picking up and more people are getting off the fence. But, do you know by how much it's picked up over last month? To seem busy doesn't mean you're busier than you were. Maybe you were busy, but it could have been a different type of busy. Some clients need their hands help more than others. When you track your stats, you have concrete evidence that you're busy and that things are picking up in your market. And just because you get more leads doesn't mean your "busier" if your stats stay … (10 comments)
sellers: I'm Sorry, But I Won't Work with a RE/MAX Agent
- 03/22/09 09:17 AM
I got a call yesterday evening from a gentleman saying he was given my name and information as a referral from one of my past clients. Yeah! We all love referrals and strive to receive them. I spoke with this gentleman for about 10 minutes about what he was looking for and time frame and price range and everything of the sorts. Then, the word RE/MAX comes out of my mouth, because, yes, I'm a RE/MAX agent. "I'm Sorry, but I won't work with a RE/MAX agent." What does me being a RE/MAX agent prevent you from working with me? "Sam … (41 comments)
sellers: 114 Showings and the House Finally Closed!
- 02/26/09 06:33 AM
No, that's not a typo. This house had 114 showings on it. What was wrong with it, you might ask. Nothing! It is a great house! This is where pricing competetively can sometimes backfire... The house comped out at $289k. I looked at the comps every couple of weeks to keep up with the activity in this neighborhood, and the comps were always very consistant at $289k. We listed the house at $249,500 in order to sell it FAST! It was completely updated with new granite counters, travertine floors, travertine fireplace, refinished and stained hardwood floors, stainless steel applianes, all new light … (28 comments)
sellers: Threatening a Vacation or a Move Will Always Make you Busier!
- 01/30/09 08:43 AM
As many of you know, I'm in the process of moving to Austin, TX. When? WHo knows, but that's a story for a different day as the house continues to be built. I'm been preparing this move for months, which means, I've organized my databases and passed off all my past and future buyers and sellers to my "partner" who is taking over the marketing of my database so no one slips through the cracks. With that, I was planning on being done with my Dallas business by December at the latest. You know how you're getting ready to go on … (17 comments)
sellers: Another Pricing Nightmare to Buyers' Benefit
- 01/26/09 03:10 AM
I blogged earlier about buyers looking at a house many times before submitting an offer, and I wanted to go into further detail about the listing situation of that same house. Some "friends" of mine put their house on the market about 8-9 months ago. We talked about the house, the work needed, the updates needed, and of course, the price. Updates and price were way out in opposite left fields. They put in some brand new, nice hardwood floors and kitchen counters. However, that was it. They didn't and wouldn't change the appliances and they were original from the 70's. They … (13 comments)
sellers: Do You Give Usable Feedback or Meaningless Feedback?
- 01/12/09 06:49 AM
In my market, we have a showing service who sets up all our appointments, Centralized Showing Service. It's great. 1 call can set 10 appointments for the day, or you can even login to their website and schedule it from there. Very easy. Within this system, they also send out an automatic email to showing agents from the listing agent asking for feedback on the showing. You can have your system set to send out an email however many times you want. I usually do 3. If they don't answer by then, they're not going to answer. When I show properties, I … (60 comments)
sellers: Texas Appraiser Board is Cracking Down on Bad Appraisals
- 01/06/09 06:40 AM
Texas is not taking bogus appraisals lightly. And maybe *bogus* is a strong word. They're not taking *fluffed* appraisals lightly. I received an email from TALCB, the Texas Appraiser Licensing and Certification Board. I don't know all the facts as to how they got involved, but they are definitely investigating some appraisals that have been done recently. The email reads as follows: "Rest assured that neither you nor the referenced transaction is implicated in the work I'm doing. However, your sale was used as a comparable in an appraisal report under investigation and, for that reason; I'd like to ask you … (15 comments)
sellers: Do Buyers' Agents Actually Explain Negotiations to Their Buyers?
- 11/17/08 01:50 PM
I sometimes wonder is Buyers' agent actually explain things to their buyers in terms that they'll understand. If they do, why do so many things happen that don't make sense. My latest example is this: I have a listing under contract. The buyer did their inspections and presented an amendment to the contract. My sellers countered back. The counter included agreeing to one repair, giving the buyer a $500 repair escrow, and leaving the $1200 fridge that is barely 2 years old. When I presented the fridge, I reminded the agent to let the buyers know that if they feel they … (50 comments)
sellers: Cut Off Your Foot to Spite Your Leg
- 10/15/08 01:17 AM
Here's another example of why it doesn't usually pay to use a discount broker just to save their fee. I have some clients whom I sold a house to a few years ago. For the past couple of years, they've been wanting to sell and buy something with a pool. We finally accomplished that last month. When it came time to list their home, I treated them like any other seller. I went over and presented the new comps since I would run them every few months since they couldn't decide to sell or not. I also showed them all my … (11 comments)
sellers: What Are You Selling This Time?
- 09/16/08 03:55 AM
I've asked it before in this blog, and I'll ask it again, "What Are You Selling?" Granted, none of the below houses are actually for sale right now, but they will be at some point. This first house faces a main street, and I pass by it almost everyday. I've often wondered why someone would completely cover up their house so you can't see it. Not only can you not see the main features of the house, but do the home owners not realize how much they're inviting termites and other bugs into their home? By having the vines all over … (15 comments)
sellers: Two Different Brokerage Signs, One Agent?
- 09/15/08 09:44 AM
There's a new listing in my neighborhood. I noticed it a couple of weeks ago when I walked by as the sign was not a familiar sign in the yard, and I had never heard of the Broker before. I won't say the whole Broker's name, but within the title is the phrase "New Home". I assumed they were buying a new home, and doing one of those programs that some builders offer where they'll buy your house at a discount to guarantee the sale if your efforts of selling it with their preferred Realtor doesn't work out in time to … (68 comments)
sellers: Attention all TEXAS Realtors- VERY Important Contract Changes to Effect ALL Homeowners
- 09/02/08 06:26 AM
As of September 1, 2008, yesterday, the state of Texas has new contracts. The actual changes in the main "Single Family" contract are minuscule. However, there is a new addendum that must accompany each and every contract from now on. This new addendum will kick Investors out of our market, and I believe that was the point of it. Not a very good move since we have tons of investors in our different markets across the state, but apparently the state of Texas thinks it's a strategic move. This should be featured and bookmarked in every way possible so the maximum … (53 comments)
sellers: What Are You Selling?
- 08/22/08 04:45 AM
Do you think about what you're trying to sell when you take pictures of the house you have listed? I always think, "Does this picture convey what a buyer is interested in?" What is this agent or seller trying to sell? Are you selling this treadmill? Does it work? How old it is? Did you try to sell it on Craigslist and it didn't sell so you thought you would include it in the sale of the home? Oh, I know, you're trying to sell that lamp. It looks like it should be in an antique shop. How old is that thing? Does it … (61 comments)
sellers: Down Payment Assistance Programs are Gone, and That's GREAT!
- 08/19/08 02:00 AM
For the past few weeks, many people have blogged and blogged about the Housing Recovery Act President Bush signed in July which would put an end to the Down Payment Assistance Programs. Almost everything I read is about how we should save these programs. Do people understand why it's a good thing they're going away?? I'm so happy these programs will be gone as of October 1, 2008. There are many foreclosures across the country. Foreclosures are happening for many reasons, but one of the main reasons is that people don't have money to pay their mortgages. They are broke, and … (35 comments)
sellers: Relocating- First Hand Experience Part 1
- 08/15/08 05:40 AM
Boy have I been busy... busy turning off my business! Since the move to Austin is definite, I can't keep building new business in Dallas, or I'll be throwing money down the toilet. I like to keep as much money in my pockets as I can as I have plenty of other expenses to spend it on. This week, I stopped all my lead generation programs. Those were the hardest calls and emails to send. Oh no, I'm still going to be in Dallas for at least the next 6 months! Am I going to be able to continue my current … (9 comments)
sellers: Another Overpricing Update, but Sadder
- 05/29/08 05:15 AM
Last Summer of 2007, I blogged about a listing I had back in 2006. That same house has been on the market a month shy of 2 years. Yes, 2 years! You might be thinking, "There aren't as many buyers in the million dollar price range as there were two years ago," and you might be right, however, this house is ONLY worth $125 'ish. There are plenty of buyers in this first time home buyer range. Why hasn't this house sold after two years? Two years ago, I told them they might get $125k if they were lucky. I also … (10 comments)
sellers: Dallas REALTOR® Membership on the Rise
- 02/25/08 01:46 AM
I've read many people's blogs about the membership of their Realtor Associations going down and people getting out of the business. National news makes real estate sound so bad these days. Once again, the Dallas area is outside the National trends. I contacted the MetroTex Association of Realtors on Friday to get the official count of Realtors for the area. There are several Realtor Associations in the area, but MetroTex is the largest covering most of Dallas and Fort Worth so I figured their information would show the trend that is also probably happening in the smaller associations. The membership numbers are … (5 comments)
This blog is to help educate Buyers, Sellers and even other Realtors across the country. Each market is different and the way Real Estate is done is different. Austin Real Estate is completely different than Dallas, California and Florida and everywhere else in between. Some times there will be other things besides real estate as I like to rant and rave as much as the next!! Come back often!
As a listing agent, it's not the best idea to show your cards and your semi-lack of experience. I submitted an offer a couple of weeks ago in the million dollar price range. My buyer decided they wanted to do an all cash offer. Great! What does it take to get an all cash offer excepted more readily than a financed deal in this market? Have all your ducks in a row. This means explain to the buyer that an all cash offer means NO contingencies! No contingencies on selling a house. No contingencies on receiving funds from some investment you … (6 comments)
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