real estate: Agency Disclosure - The Fleecing of Real Estate Consumers Continues - 03/15/12 02:33 PM
I've been following the efforts of a colleague in Maryland who believes exclusive buyer representation should be disclosed to consumers as an option on the state's agency disclosure form.
I read an article on the topic in the real estate section of the online Baltimore Sun. The Director of Regulatory Affairs for the Maryland Association of Realtors, Mark Feinroth, stated that the suggested changes would cause "a big change in agency law that's really unwarranted."
Agency -- who's representing whom -- "is already the most difficult concept to train licensees in, and it's a very difficult concept to explain to consumers," Feinroth said. "I think this will make … (8 comments)
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real estate: Is Buying a Home in 2012 within Your Means? - 01/19/12 04:29 PM
Homebuyer Representation, Inc. offers a free consultation to home buyers.
What does it mean to consult an Exclusive Buyer's Agent? A consultation is a one-time meeting to get any of your real estate questions answered and to find out what it would take to buy a home. The meeting can be in person or over the phone.
It doesn't mean that you have to hire the agent to represent you, or even hire an agent at all.
You should come away from the consultation with enough information to answer these questions:
Does it make sense to buy vs. rent? Is what … (1 comments)
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real estate: Salt Lake City Utah - Earthquake Country - 01/11/12 01:20 AM
I'm not trying to scare anybody off, Utah is a great place to live. But you may as well know before you move here that Utah is earthquake country.
I was talking to a potential new client today who is relocating here from the east coast. In conversation I brought up earthquake insurance and the prospect asked: You have earthquakes there?
Well, we don't have too many, but we are one of the 5 Most Dangerous U.S. Earthquake Hot Spots Beyond California. (Wired Magazine)
Image: US Geological Survey
If you want to research the topic, here is a link to … (3 comments)
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real estate: 2012 Salt Lake Housing Forecast - 01/06/12 03:18 PM
I'm looking forward to the 2012 Salt Lake Housing Forecast Breakfast on Wednesday, January 18th. Eric Belsky, Director of the Joint Center for Housing Studies at Harvard University will present on the key factors crucial to supporting a housing and economic recovery in Utah and the nation.
James Wood, Director of the University of Utah's Bureau of Economic and Business Research will also be presenting the 2012 Salt Lake housing forecast.
In addition to being informative, these forecast meetings are really fun to go to. Given that the presentation is given to 500 Realtors, you know the "spin" on the data … (0 comments)
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real estate: Advanced Negotiations - 01/02/12 09:04 PM
I'm currently serving as the Secretary for the National Association of Exclusive Buyer Agents and prior to the upcoming annual conference I'm taking another negotiations course in Texas. The course, titled "Advanced Negotiation Techniques for Buyer's Agents" will help me develop effective negotiations plans for my clients and negotiate more effectively on their behalf.
Although I earned the Certified Negotiations Expert designation years ago and I regularly read books and articles on effective negotiating, and although I successfully negotiate for numerous buyer-clients each year, I'm excited to pick up a few more tips and tools, brush up on my skills and … (2 comments)
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real estate: Salt Lake Among Healthiest Housing Markets in the United States - 11/22/11 10:57 PM
Builder Magazine ranks Salt Lake City, Utah as having the third healthiest housing market in the U.S.
Good things happening in the Salt Lake City metropolitain area:
Income growth next year is expected to be one of the best in the country. Job growth this year was 2nd best in the country. (Over 35,000 new jobs last year) Population continues to grow. New companies in a variety of sectors keep moving to town. We have some great colleges, universities and tech colleges in the area. Residential building permits are up 16% (Salt Lake REALTOR Magazine, Nov 2011) Residential home prices are … (2 comments)
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real estate: The Highest Level of Representation for Buyers - 11/03/11 04:40 PM
My last blog entry was a testimonial from me about my new dentist. What does that have to do with buying a home? Lots.
Everybody should know about biomimetic dentistry and doctors like Dr. Noot. I really connected with him and his practice because:
1. He really cares about what is best for his patients.
2. He takes the time to educate his patients about what is going on.
3. He lets the patient make the important decisions regarding their care.
4. He has gone the extra mile in his personal training and education in order to provide his patients with … (0 comments)
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real estate: Salt Lake City "Super" Accredited Buyer Representative - 09/30/11 03:10 PM
Well, I did it again! I decided to get the ABR designation for the second time. Yes, this means I took the entire curriculum over again, so you could say I'm twice as knowledgeable as those who have only earned the Accredited Buyer Representative designation once!
Okay, so maybe I didn't learn twice as much, but taking it from different instructors each time and a few years apart, I do have to say the course was a great reminder of how to property serve the real estate buyer and gave me some ideas on how I can make my buyer representation … (0 comments)
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real estate: Hire a professional, not a fortune teller who lost their crystal ball! - 06/14/11 05:17 PM
Many buyers ask their agents questions about what they think the market/seller/interest rates will do. It seems the prevailing attitude by many real estate agents is to laugh off such questions, or retort with a witty comment such as, "My crystal ball is on the fritz." Their response is more like that of the famous Magic 8-ball: "Reply hazy. Try again." And try again they do. Because they didn't hire a fortune teller to help them buy a home, they hired what they thought was a real estate professional.
Have we hit bottom? Should I wait to buy a home or … (5 comments)
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real estate: Why are so many consumers distrusting of real estate agents? - 05/04/11 06:40 PM
I was reading an Angie's List magazine column this morning and I couldn't help but feel for some of the commenters who were (and perhaps still are) distrusting of real estate agents.
For example, one commenter said:
"One caveat about using a home inspector: Make sure you use someone who is recommended by a friend NOT the real estate agent who is trying to sell you A HOUSE. Our "inspector" missed all kinds of major problems that we were not looking for being from another area and not knowing what to look for..."
Another responded:
"...our story exactly. I will never … (4 comments)
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real estate: Being Romantic - 02/16/11 03:42 PM
What does romance have to do with real estate?
Probably not much.
Nevertheless, my last blog entry focused on romantic things to do in the Salt Lake City, Utah in response to Salt Lake being ranked by Amazon.com as the 14th most romantic city in the US. The ranking was based, however on things such as sales of romance novels, relationship books and Barry White albums.
I saw the opportunity to ask my Facebook friends for romantic things to do nearby.
In addition to their great responses on that topic, I got a number of suggestions that could really be … (0 comments)
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real estate: Home Prices Up in 6 Salt Lake County Cities - 02/08/11 04:26 PM
This is in no way a suggestion that the market has hit bottom in any of these areas, but in the fourth quarter of 2010 home prices were actually up in 6 Salt Lake County cities. We'll have to wait until we are into the Spring season to see if the trend continues in these areas and if it spreads to other communities in the county.
The 6 cities where values were up were:
Draper (84020) - UP 7% West Jordan (84081) - UP 6% Sandy (84092) - UP 12% Herriman (84096) - UP 10% Salt Lake City (84103) - UP … (0 comments)
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real estate: Home Prices Down 6% in Salt Lake County - 02/08/11 04:12 PM
As an Exclusive Buyer's Agent I'm constantly exposed to the inventory on the market in the Salt Lake area.
There are still a ton of overpriced listings on the market, but that's improving.
1. Inventory is actually falling. My gut feeling is that the majority of homes coming off the market are from sellers who mistakenly thought their house was different from the others and that somehow it could commmand pre-bust pricing. Which leads us to point #2:
2. Fewer sellers are putting their homes on the market at ridiculous prices. Homes are finally being discounted to reasonable prices.
Here … (0 comments)
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real estate: Utah Ranked Best State for Business and Careers - 10/22/10 05:43 PM
Among all 50 states, Utah adds yet another top end ranking to it's list of growing accolades I've been trying to keep up with over the past few years. Forbes.com recently ranked Utah as the "Best State for Business and Careers."
Here are a few other honors earned by Utah and Salt Lake City that I'm aware of:
Best Commute in the Country (Salt Lake) Least Stressful City in America (Salt Lake) 2nd Healthiest State (Utah) Best City for Bargain House-Hunters (Salt Lake) Most Fiscally Fit State Government in the U.S. (Utah) Household Incomes Rising Fastest in the Nation (Utah - … (3 comments)
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real estate: HUD to Buyers: "It is your responsibility to search for an agent who will represent your interests in the real estate transaction." - 01/01/10 05:44 PM
Newly revised for 2010, HUD's latest publication related to buying a home is titled, "Shopping for Your Home Loan: HUD's Settlement Cost Booklet." It is a must-read for anyone who will be buying a home in 2010 (or beyond).
In spite of the title, the booklet doesn't just contain information on how to shop for a home loan using new forms and an explanation of the settlement costs involved in a real estate transaction. The guide also contains valuable information on a variety of other topics related to purchasing a home. (It's a whopping 4 Megabyte download!)
Massive reforms in the real … (13 comments)
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real estate: RE BarCamp - You will leave wanting more! - 05/08/09 06:24 PM
RE BarCamp is a fabulous FREE day of sharing and learning.
What makes a BarCamp the best event you'll attend this year? YOU set the agenda. YOU come to learn and to share only the things YOU are interested in!
The main focus of the Salt Lake BarCamp on June 5th is Social Media & Technology.
Topics Include:
Blogging Twitter You Tube Facebook Search Engine Optimization Podcasting Web Marketing Google and MORE! Come learn about the tools and technologies successful agents are using in this economy. Have YOU found a tool or strategy that has helped your business? Come share … (5 comments)
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real estate: An Exclusive Buyer's Agent is the Only Way to Go - 05/01/09 06:09 PM
I recently transferred to Salt Lake City from California. Having owned a few homes, and also having dealt with various agents in the past, I did not relish the stress and hassles involved in the home buying process. I investigated my options, and wanted an agent that would be a good fit for me. I wanted an agent who was willing to work only for me. Little did I know that I was about to embark on one of the most rewarding and remarkable adventures of my life. Benjamin Clark is the best! He made the buying process an absolute pleasure. … (3 comments)
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real estate: Don't Work with a Pushy Real Estate Agent - 04/30/09 05:52 PM
I saw this and realized just how different the experience is for clients of Exclusive Buyer's Agents than it must seem to most of the public who work with pushy real estate agents.
British humor and real estate all in one short video clip.
If you want to have a different experience when buying a home, get an agent on YOUR side of the transaction who will work for you and not try and SELL you any home.
If you have excellent credit and will be buying a $300,000-$800,000 home in the next 1-3 months and would … (0 comments)
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real estate: 5 Reasons Utah is Weathering the Economic Storm - 04/13/09 02:19 PM
A recent ABC4 news report points out some reasons why Utah is weathering the economic storm better than other states. Diversification seemed to be the main theme. All of Utah's eggs aren't in one basket.
Here are 5 of the examples given:
International Exports Tourism Alternative Energy Research & Development Technology Research & Development Population Influx - People AND Businesses are relocating to Utah While Utah isn't an economic Utopia, the diverse interests of it's residents and it's industrial pursuits certainly make it a great place to live.
Utah generally receives favorable scores in surveys and analyses regarding great places to … (1 comments)
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real estate: An Equal Level of Representation for Home Buyers - 03/16/09 11:14 PM
Great Article in the New York Times Friday, featuring a good friend and colleague of mine, Ira Freireich of Long Island, NY.
The article points out how many homebuyers are becoming more savvy and aware of how they can get the best level of representation in the real estate transaction: Exclusive Buyer Agency.
Some key points:
Exclusive Buyer Agents (EBAs) negotiate for the Buyer EBAs work for the Buyer only - Not the Seller like traditional real estate agents EBAs keep confidential information confidential - The seller won't know that you can or will pay more EBAs give you more control … (3 comments)
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