The Real Estate Agent: just a license or a career? Just in the last few weeks, I know of two people that have acquired their real estate license. They both have signed on with real estate firms. They both have other full time jobs. They both think they can make money in real estate. All this may be true, but unknown to the poor unsuspecting consumer, they know very little about the real estate business, and this can get them into big trouble, create very unhappy clients, and give real estate agents a bad reputation. As full time real estate agents who take their jobs very seriously, we all know that it takes years to develop the skills and knowledge to truly become proficient in our careers. I can only view these part-timers as people who are taking away business from the true professionals and frankly, I have very little respect for them. It's one thing if you're a referral agent, it's another when you try to do a job you scarcely know how to do. Your thoughts?

Agents: Share the Love and the Profits, too! I just had to share my experiences of sharing - listings, that is! I'm in a county where two MLS overlap. Many agents don't want to belong to two MLS, so they co-list with me to give their listings broader exposure, even if they're with another firm! I'm happy to report how many more listings I have and how much more business it has generated. I'm a firm believer in working alongside other agents, loving what I do and benefitting from the profits! 

Agents: To Specialize or Not to Specialize? When I first got into real estate in 2003, I'll never forget being told I needed to specialize in selling a particular type of real estate. I even read in some of my real estate magazines that the only way to be successful, is to specialize and become an expert in that specialization. Well, I did just that and now where am I? I specialized myself right out of the market! The types of properties I was selling most were equestrian properties and farms. After the mortgage and real estate downturn, those types properties were no longer selling. I had to quickly adjust to the market - the first time homebuyer market - for which I didn't have much experience or reputation. Even with my quick change of strategy, my income fell right along with the market. What did I learn from this experience? I think the best hedge against market fallout is to either diversify your talent (which I have done) or build a team that represents all aspects of the market. Your thoughts?

The Surprising Truth About Home Ownership: I was rather amazed to read this article, "The 5 Myths About Home Sweet Ownership" by Joseph Gyourko from the Sunday, November 15, 2009 edition of the Washington Post: http://www.washingtonpost.com/wpdyn/content/article/2009/11/13/AR2009111302214.html

As in any investment, a buyer needs do their due diligence: buy within their means, save for their downpayment and put as much money down as possible, research the neighborhood, and own the house long enough for it to appreciate. Due diligence has never been easier, thanks to the internet.

As a real estate agent, I've always touted that home ownership is better than renting, and I will always continue to practice what I preach. Nothing can replace the "feeling" of ownership!

Nice building lot in Bedford County, Virginia - almost level building lot with mountain views! Deed restrictions to protect your investment, state maintained road, conveniently located just minutes from Bedford City. Seller is motivated adn will consider owner financing!

Sellers: A word about home pricing. I was surprised the other day when an experienced agent asked me what he should tell sellers when they want to list their property at an unrealistic price (too high). Here's what I told him I do. First, the CMAs I create that suggest a certain price range are supported by real data in the MLS. Numbers don't lie. Second, now more than ever, the house must appraise by the buyer's lender. Appraisers often use the same data from the MLS (I've been contacted many times by appraisers for MLS information!). Third, we want the property to sell either quickly, or within the "average" amount of time, which has gone from 90 days to 120 days in my area. Fourth, we want to try to avoid any price reductions if possible. Our hope is that we price the home competitively the first time. Fifth, and maybe most importantly, the seller is hiring me to give a professional opinion and to sell his/her property. If they don't follow my advice and I don't sell it, I'm simply not doing the job I was hired to do. To not do my job right makes me look incompetent. Why would I want any listings that make me look incompetent? Today's market is tougher than ever. Work with your seller to make their life and your job easier.

Agents: What to tell Sellers that want to list their property at unrealistic prices. I was surprised the other day when an experienced agent asked me what he should tell sellers when they want to list their property at an unrealistic price (too high). Here's what I told him I do. First, the CMAs I create that suggest a certain price range are supported by real data in the MLS. Numbers don't lie. Second, now more than ever, the house must appraise by the buyer's lender. Appraisers often use the same data from the MLS (I've been contacted many times by appraisers for MLS information!). Third, we want the property to sell either quickly, or within the "average" amount of time, which has gone from 90 days to 120 days in my area. Fourth, we want to try to avoid any price reductions if possible. Our hope is that we price the home competitively the first time. Fifth, and maybe most importantly, the seller is hiring me to give a professional opinion and to sell his/her property. If they don't follow my advice and I don't sell it, I'm simply not doing the job I was hired to do. To not do my job right makes me look incompetent. Why would I want any listings that make me look incompetent? Today's market is tougher than ever. Work with your seller to make their life and your job easier.

Agents & Consumers: What Staging and Speech Writing have in Common. I hire a stager for every home I list. I offer the initial consultation for free, because I think staging is that effective and it's part of my marketing strategy. I recently had my staging consultant in a home that was filled with small collections of various things the homeowner had collected from different countries she visited. A day after the consultation, the homeowner emailed me to say that after staging, the house would be nothing more than an "empty shell," devoid of any "warmth." I forwarded these comments to my stager and she brought up a good point. In effect, that is all that's being sold - the "shell." The personal items are NOT being sold and in my opinion, have little effect on the "warmth" of the house since everyone's definition of "warmth" will vary. Just as in public speaking, sellers must consider their audience. Public speakers must write their speeches within the context of their audience, just as sellers must present their homes within the context of the buyer's interest - the home. Statistics show that staged homes sell faster than homes that have not been staged. I'm confident that as staging continues to catch on, Realtors will sell homes faster and sellers will be more satisfied.

Agents & Consumers: What Staging and Speech Writing have in Common. I hire a stager for every home I list. I offer the initial consultation for free, because I think staging is that effective and it's part of my marketing strategy. I recently had my staging consultant in a home that was filled with small collections of various things the homeowner had collected from different countries she visited. A day after the consultation, the homeowner emailed me to say that after staging, the house would be nothing more than an "empty shell," devoid of any "warmth." I forwarded these comments to my stager and she brought up a good point. In effect, that is all that's being sold - the "shell." The personal items are NOT being sold and in my opinion, have little effect on the "warmth" of the house since everyone's definition of "warmth" will vary. Just as in public speaking, sellers must consider their audience. Public speakers must write their speeches within the context of their audience, just as sellers must present their homes within the context of buyer's interest - the home. Statistics show that staged homes sell faster than homes that have not been staged. I'm confident that as staging continues to catch on, Realtors will sell homes faster and sellers will be more satisfied.

I found these incredible new products on the following link:

http://styledstagedsold.blogs.realtor.org/2009/12/22/10-hot-home-products-for-the-new-year/

Realtors, use these ideas to help your client stage their home for sale. What will they think of next?

Stay tuned for weekly information!