Rhonda Duffy's Blog

How To Know You Got The Best Deal When Purchasing

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Thu, 03 Sep 2009 19:21:40 -0500

Most buyers in today's market are concerned about getting a good deal. This really is no different than most markets, but there seems to be a special emphasis placed on the "deal" now.

So, here are the steps to making sure that you get the best deal possible:

Negotiate the best mortgage terms possible.
Make sure that you understand what you and your partner are looking for in a home.
Rate the homes that you see so there is no confusion about homes that should stay on the short list or not be considered any longer.
When you narrow in on a home, talk to the neighbors to get the real scoop about the house and the neighborhood. Questions should range from security to schools to why the sellers are moving to has there ever been anything wrong with the home. I like to talk to 3 neighbors.
Inspect the home with your eye for obvious issues: basement leaking, crawl space issues, leaks on the inside, erosion of soil, driveway issues etc...
If the seller is providing a seller's disclosure, calculate the age of the depreciable items that represent a value in the home's price. Roof, heating and air units, hot water heater, appliances, etc...
Look at the comparables in the neighborhood but don't compare the surface facts. Study the expired listings, pending sale listings and sold listings and also look at the tax records for square footage.
Don't compare foreclosures to this property if it is a resale. Many foreclosures have repairs that need to be made to the property that will not be included in your findings.
Visit the school system whether or not you have a child or your child will be attending the school. Buying in a bad school district is a fatal flaw for resale in the future. You can research school scores online as well.
Investigate any land that surrounds the home that is vacant with the county to know for sure what the zoning is and who owns the property.
Make a clean offer to the seller that does not include closing costs and personal items. After you work on the price, you can add additional items to the price by raising the price. The seller will not mind because the net to him will remain the same.

Of course an experienced agent can really help you with this process. We have a ton of tools that we provide our buyers to help them with the details of this and of course we walk you through every step.

The bottom line is that the best deal does not mean just the price, it also means what is the best deal for you personally.

Good luck and happy house hunting.

Need Contract Negotiator Immediately

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Tue, 04 Aug 2009 20:06:30 -0500

I need a contract negotiator for my listings full time. This is an office job for someone who wants a lot of experience quickly.

Basically, this is an awesome job and I need help now!

Contact me soon if you know someone or you want the job.

Atlanta First Time Homebuyer Credit

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Mon, 27 Jul 2009 14:22:00 -0500

The home buyer credit that buyers need to be aware of today is a home buyer tax credit of the greatest proportions in U.S. history and the home buyer credit isn't just coming from the United States Federal government. It is additionally coming from many states in the U.S. For instance, Georgia now has an $1,800 credit for home buyers. Although this credit is known, as a first time home buyer credit, the restriction of first time is a little loose as well because first time simply means that you have not owned a home in the last three years. However, in both of these plans, buyers must act quickly and close by November 30, 2009.

The American Recovery and Reinvestment Act of 2009, which is $8,000 combined with the Georgia $1,800 home buyer credit is now combined easily with Duffy Realty's home buyer credit, which is another credit up to 1.5% of the sales price.

Here is a quick run-down of the homebuyer credit for each of these plans:

U.S. Home Buyer Credit

The homebuyer credit is for first-time homebuyers only. For the tax credit program, the IRS defines a first-time homebuyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

Georgia Home Buyer Credit -NEEDS TO HAVE BULLETS!

All purchasers of an eligible single family residence in Georgia that file a Georgia income tax return can claim the credit. You do not have to be a first time homebuyer.
The tax credit is limited to the purchase of one single family residence including condos. However, the residence must have been: occupied at the time of sale, or previously occupied residences, if such residences:
- Were for sale prior to the effective date (5/11/09) and were still for sale after the effective date;
* Owner-occupied residences with respect to which the owner's acquisition debt is in default on or before March 1, 2009; and
* Residences with respect to which a foreclosure event has taken place and which are owned by the mortgagor or the mortgagor's agent.
Buyers must close between June 1, 2009 and November 30, 2009.
The tax credit will be for 1.2% of the purchase price, with a maximum credit of $1,800 (whichever is less). Homes purchased for $150,000 or more will receive a maximum of $1,800.

There are no income limits applicable to this credit.

Duffy Realty Home Buyer Credit

Applies to all homes purchased by Duffy Realty clients.
There is no timeframe in which a buyer must close.
Buyers earn up to 1.5% of the purchase price based on the amount of time buyers spend looking at houses.
Credit is paid at closing by reducing closing costs or a check will be written to buyer 5 days after closing.

All of these plans have paid buyers millions of dollars in incentives. Don't miss this opportunity because you did know or understand this process. If the government and Duffy Realty want to give you an incentive to purchase, why wouldn't you do it?

Here are a few of the reasons to buy a home before the homebuyer credits expire.

Interest rates are at an all-time low.
House prices are suppressed.
You receive huge homebuyer credits that can equal a large portion of your purchase price.
Home ownership brings more pride to an individual than any other purchase.
You will build stable roots for yourself and your family.

If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

I Love Grateful Clients Who Notice That I Try

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Mon, 27 Jul 2009 14:20:29 -0500

I recently has a client do a video testimonial for my by email - cool concept.

And, he noticed that I have worked hard to make my process work to sell homes and lessen the client confusion that many clients feel.

http://tinyurl.com/Duffy-Testimonial

Take a look and see what you think.

Going to Cancun and Need a Write-Off

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Thu, 16 Jul 2009 08:30:01 -0500

My family and I are going to Cancun next Tuesday. I would like to hook up with a referral company that I can advertise on my website. And, I would like to use the trip as a buisness write off. We will for sure be having our annual meeting for my S-Corp there.

Any ideas on how I can hook up with a referral company in Mexico?

And now this has me thinking, since they are in Mexico (another country) I should be able to receive a referral fee outside of the brokerage rules in the U.S.?

This really does not apply to me because I am the broker anyway, but I am just thinking today.

All Duffy Listings - All 1100 of them - Are Open Today!

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sun, 28 Jun 2009 09:30:38 -0500

I have been holding city wide open houses for my listings since January of this year. My sellers hold the houses open, willingly, and I think that the energy creates some hope for them.

I run ads on the radio and advertise on the web for these open houses.

Of course I have to teach my sellers what to do, what to say etc... but I think that they greatly appreciate that something is happening.

The buyers too seem to map out the listings that they want to see and they report that they like the no pressure of being able to look and educate themselves for when they are ready to buy - which I hope is soon!

Buyers In the Early Stages...

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sun, 28 Jun 2009 09:27:53 -0500

I have been doing some writing lately and I can not figure this one question out.

What do buyers want in the early stages of looking for homes?

Most of the buyers that call my office certainly don't want us pushing them to use us. They seem aloof as if they really didn't want to speak to anyone and most of them say "Not yet."

So what do you think that we can do to snag these buyers quicker and with more ease?

Should Spaghetti Sauce Have Texture?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sat, 27 Jun 2009 21:09:13 -0500

In today's economy (whatever that means?) a new restaurant has opened in my area. We only have 7 restaurants and it would be great if this one was good. It is an Italian restaurant and on the menu it talks about Stadium food?

Today we went to eat lunch. The spaghetti sauce was bland and had no texture. The waitress asked how the meal was and I was honest and told her it sucked.

The owner came over and I told him about the sauce - which I would think is going to be used in every dish and he told me that his head chef on Saturday mornings did not know how to make the sauce good and that he slacks on putting in the fresh tomatoes and spices.

If this is the case, why exactly does he work there?

Is There A Full Moon Out There?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Thu, 25 Jun 2009 21:44:26 -0500

So much conflict, deaths and freaked out people out there that I just had to look at the moon to see if it is full today?

It seems strange out there like some people are in a fog while others are just freaked out. I want this "phase" to pass and let's hurry up and get back to personal growth, personal responsiblity and just plain making progress.

So many of my agents and friends are losing parents, out of the blue and all at once. So many people are scared about going backwards in their finances and others are just plain malicious.

Where are we headed?

Is A Swim Meet Like the Competition to Get Listings?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Thu, 25 Jun 2009 21:29:13 -0500

I was at my kid's swim meet today. What I learned is that my kids are really good at some strokes but suck at others. Unfortunately, when they swim in the relay and they do a stroke that they are not good at, they bring their whole team down.

Is this typical of the agent who can't do all of the transaction A to Z?

It is imperative that an agent be able to do all strokes.

Do These Look Like Good Product Photos To You?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sun, 21 Jun 2009 22:01:01 -0500

I just did a blog about brown grass and then I started looking at other photos. Would you list a home and advertise it like this with these photos? These homes are over 600K! The commission for an agent on this home would be over 18K to market these homes. Can these agents really be proud of their performance here? Again, I personally know the fees that these agents charge and I must say, I am really disappointed that neither the agent nor the seller has recongnized that something is wrong with the way that the home is being presented on the #1 way that buyers search for homes - the internet!

It is now June - dead grass and a big sun streak is the best this agent can do?

Is this house leaning?

This house looks a little yellow to me or is that lime?

This one looks like a distorted circus fun house.

Seriously - you can be proud of this work?

There is a big lesson here about making the home a product and I am going to take the time
once more to make sure that my listings are updated. I have over 1000 listings on the market
right now so it will take some time, but I am going to get on it to make
sure that we don't have any houses like this on the market. These pictures should not
even be allowed on the internet.

Thanks for reading my rant!

Who Still Has Brown Grass in Their Area of Town?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sun, 21 Jun 2009 21:43:54 -0500

Hello everyone - it is June 21st - Father's Day and everything here is lush, lush, lush! We were in a drought here in Atlanta for the last few years but it has rained cats and dogs here and all the
lakes are now at full pool.

Here are some examples of listing agents that don't deserve to be paid to market homes. These are agents that I know personally charge at least 3% to the seller.

This house is listed for $ 7,920,000
It has acerage!

This is an example of how Lush the landscaping is right now.

Nice blue winter sky and dead grass!
Listed at $ 1,875,000

Another beauty listed at $1,800,000

What are these agents thinking?

Yet another mansion listed at $1,695,000

How about this one - know any buyers who want to
buy a SPOOKY home for $1,599,000

I could spend all night doing this - I only made it through 32 listings to find these beauties.

The question is, is the real estate agent doing their part to bring buyers to the property by having this as a representative of the property? I really have a bone to pick with this type of marketing and a high fee
to boot! No wonder the public is confused. The sad thing is that the sellers have probably not even bothered to look at their listing. They just wonder why no one stops in to see the house...

Do You Feel Guilty If You Don't Have Clients On The Weekend?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sat, 20 Jun 2009 20:57:09 -0500

Sometimes I feel like I did when I was single if I don't have some business going on on the weekends. However, most of our offers in our office arrive on Wednesday. So, I think that buyers that are working during the week with an agent might be a better buyer?

I see some of my agents really struggle with not have clients on the weekend too. It is a hard balance to enjoy yourself and make balance when something feels off.

I hope that we will be busy tomorrow in spite of Father's Day. We are expecting good weather in Atlanta so I hope it will be great.

Lifestyle, Lifestyle, Lifestyle

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Sat, 20 Jun 2009 18:24:08 -0500

Who wants to write a book with me of new terms that we can write to put on listing descriptions?

I think we definitely need to come up with some....

Yesterday I was at Pollo Loco and read one of their signs about their chicken. "The fire embraces our chicken while it sears the juices into the chicken" or something like that... the point is I like the word embrace.

I just know that I am tired of the same old language that is used in real estate and I am sure that now that buyers can read descriptions of listings, they would probably like some new wording too.

What is your favorite word that you have used lately?

- Rhonda

If You Have Never Made A Comment On A Post, Start With This One!

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 17:13:26 -0500

Simply answer one of these questions, get some points and start the addiction!

How did you decide to get into real estate?

What quality did you think that you possessed naturally that would make you a good agent, inspector, mortgage person, stager etc..?

What has been your biggest victory?

What have you had to work on in your career?

What has been your biggest disappointment in real estate?

Have you mastered handling rejection?

Who do you follow as a mentor?

What great book have you read that has helped you in your career?

What would you tell someone getting into real estate today?

If you had endless streams of money, how would you change your business?

- Rhonda

Have You Ever Had A Pet Bite You When You Were Showing A Listing?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 11:41:00 -0500

One time in a listing a lady told me that she had a crazy cat that lives upstairs. She said to just stay away from the cat. I saw the cat in the rocking chair in the corner, far away from where I was walking. I stayed clear of the cat and attempted to go into the bathroom.

The cat jumped from the chair and bit the heck out of me. A cat!

Another story: My partner was trying to get into a listing to show it to her buyer. She could not get the key in the lockbox to open the front door. So, she went around to the backyard to see if the key would open the back door. When she went into the backyard, she did not see any animals. As she made it to the door, a Rotweiller came out from no where and attacked her. She almost lost her arm.

Any stories that you have?

- Rhonda

Business Hours?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 11:34:25 -0500

Do you have business hours?

If not, how do you balance your time with your family and are they resentful that you talk and handle business all the time?

I think I created business hours after hearing from kids of Realtors who resented their parents.

When you do you think the public will accept real estate business hours?

- Rhonda

Listing on the Round Number - Not the 9's

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 10:59:24 -0500

What is the thinking again on listing on the 9's, or even a funky number for that matter? In other words why list a home at $249,900 or $249,999? Or even better 249,986 or something like that.

Just want to get my thinking straight on why homeowners and agents list that way?

Please give me your thoughts and what you have learned from others about why we are listing properties this way?

- Rhonda

Do Your Buyers Know About the Tax Credit?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 10:53:41 -0500

My buyers don't seem to know much about the tax credit. What it is the best website that you know of that spells it out easily.

I found one, but it did not mention that you can do the tax credit on townhomes.

I really need to send this out to everyone in a better format so that we can turn this market around.

What are your suggestions?

Do You Give Your Business Card To Everyone?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 10:06:09 -0500

Just curious if you guys are giving your business card to everyone you meet? And, if you are, does it have any kind of tag line on it that states what you do or stand for?

I have to admit that many times I don't even carry cards with me. I know that sounds ridculous, but it is true.

Have you ever had someone call you out of the blue that you gave it to where you don't even remember their name or who they are but once they tell you the event, you slightly remember them?

Do You Quote Mortgage Payments As Part Of Your Relationship With Your Buyer?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Wed, 17 Jun 2009 08:33:12 -0500

We don't quote mortgage payments or different loans to our buyers and they buyers seem confused that we can't tell them what a payment will be or about different loan programs.

We feel that we are licensed for real estate and mortgage people are licensed for mortgages.

The only reason that I ask is that many buyers act like we should know.

We refer them to lenders that we know and tell them that we absolutely let them do what they do and we do what we do.

What do you quote?

Do Sellers Believe That It Is The Listing Agent's Job To Show A Home To Any Buyer?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Tue, 16 Jun 2009 07:16:56 -0500

My question is simple here -

Do sellers believe that it is a listing agent's job to show the house to any buyer whether or not they have an agent?

I have been asking this of my sellers over the last few weeks and I get a "Yes!" And, it is followed up with "Isn't that the job of the agent?"

So whereas we may be fighting about procurring cause... as agents, the public absolutely thinks that they should and can call the listing agent to see the home and answer questions.

One of my sellers said that if the listing agent isn't going to show the house to buyers with an agent, that they should just say on their voicemail that if you want to see the house, call another agent. Why confuse the public they said?

One of my clients saw an 850K house with the listing agent and told them that they had their house listed with me but that they had not signed a buyer agreement but that they were going to use us. The agent blasted us and forgot to go back to ask again if they were still going to use us - I guess just thinking that after his blasting they would change their mind. He showed the home.

Then, my client wanted to make an offer on the home with me.

I called the broker and they said that they would pay nothing to us as they had shown the home and that they buyer said they were not working with anyone.

At the showing, the agent did not discuss buyer brokerage or who represents whom in the transaction. The agent did not follow up with the buyer. The agent did not give the buyer a seller's disclosure, comps or anything else, they did not disclose in the listing that they were paying less commission etc...

Now, we get paid nothing?

Sad thing is for the seller that the buyer got so pissed off from all of this including the unprofessional blasting that they decided not to buy the house!

That was a month ago - house is still on the market - another house now belongs to the buyer!

Cooperation gets homes sold and the listing agent of the 850K house would still be making over 24K on the listing side. But more importantly, the seller would not be suffering on the market. They had a buyer!

The rest of the story as told below... after many of you responded.

Okay so here is more to the story that I left out before - sorry, I didn't expect so many posts and action here...

The buyer/seller was our client for over 1 year selling a 1.5 million dollar home and downsizing to 850K. At the beginning of their listing we had a buyer's agency with them because they received an offer on their home. The offer did not work out, they did not move and the buyer agency expired. We discussed the buyer agency with them at expiration and they said that they were too heartbroken from the last offer that they would just wait to see homes when they got another offer.

On Sunday night (the day before Memorial day), a couple came by their home (without their agent) and caught them in the yard. They showed the home and the couple told them that they were going to bring their agent the next morning and in the meantime they were going to get an offer together.

My client panicked that night and starting looking at homes on the internet. My partner who they had been working with had called them earlier in the week and of course over a year of them being on the market they became friends. My partner told her that her daughter was graduating from high school over that weekend and that she had a whole bunch of family coming.

On Memorial Day, my client called our office and left a message that we did not pick up until around noon telling us that she was getting an offer. In the meantime, trying to be helpful because she knew my partner was busy, she called the listing agents of several homes and got this listing agent... that is where the story above comes in...

Thanks for your responses.

Can We Start Selling All Houses Without A Seller's Disclosure?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Mon, 15 Jun 2009 21:04:21 -0500

If banks can sell houses all day long with no seller's disclosures and buyers buy the homes all day long with no seller's disclosure, do you think that we can get away with not giving seller's disclosures?

In Georgia, the new contract has an option to include a seller's disclosure or not.

Think of all the gray areas that will be dissolved if the buyer has strict due diligence and there is no seller's disclosure.

Do you think sellers can get away with this?

Does A Buyer Care Who Has The House Listed?

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Mon, 15 Jun 2009 21:00:01 -0500

After being involved in a few banters back and forth this weekend in a few posts, I just thought that I would ask you who have not been involved.

Does a buyer care who has the house listed or do they just want to find the right home for them?

I answer buyer calls all day on my listings and other agent's listings and I just don't see that they care who has the home listed. They never ask me is that a good agent? What is that company all about, etc...

They never ask me what commission the listing is paying and they don't ask me if the agent is a Realtor member of not or if the agent has been in the business very long.

Instead they ask about price, bedrooms, school district, basement or not and if it is a foreclosure.

What questions do you get asked?

Canadian Competition Bureau Visits Duffy Realty

Rhonda Duffy (Duffy Realty and Rainmaker Realty) — Mon, 30 Mar 2009 15:30:15 -0500

Canadian Competition Board Interviews Me About Alternative Real Estate Choices

Out of the blue, I was contacted by the Canadian Bureau de la concurrence which is the The Canadian Competition Bureau. The Canadian Competition Bureau is the equivalent of the Federal Trade Commission or the United States Department of Justice Antitrust Division in the United States. I was asked to be interviewed about minimum services in real estate just as I had been involved with the Georgia Real Estate Commissioner's Task force with the USDOJ. They wanted to know how my business model (Duffy Realty of Atlanta) works for both myself and for the client. They were very thorough and showed up with at least 4 pages of questions. The questions ranged from how I do things to how the customer responds in each instance. They came to my office for the interview and toured every department. Think of that, wow, they flew to Georgia to meet me - I really didn't think too much about this until afterwards. They said that they researched me on the Internet - amazing the resources out in the public today.

Apparently, the Canadian MLS boards have very strict rules about what you can and can not do as agent members regarding listings. The MLS boards there are owned by the Realtor Associations just like they are in the U.S. This was odd to me as we as agents and brokers should be regulated by the U.S. and state laws, not the MLS boards who simply supply the tools. I don't know how this has gotten so backwards. Well at least the DOJ is doing something about it now.

Anyway, all went well. They said that my real estate model would conform to the current rules of the Canadian MLS boards because we handle every aspect of the contract and we coach our clients on the selling side and that we appear to be as much of full service as any other full service company that they have in Canada or that they have researched in the U.S., although all of their interviews are confidential. We talked mainly about the selling side and briefly touched on the buying side and the buyer cash bonus that we give to our clients.

Thank you Canada for thinking of your consumers too! I personally appreciate all the work that the DOJ has done to protect consumers in the U.S. And I know that my clients appreciate it too. Saving over one billion dollars in listing commissions while getting a successful transaction done at the same time has really helped a lot of my clients with their personal transaction and help them uliminate their own personal recession.