Ar_home_b_search
 



buyers agent in a sellers market: Understanding The REO Agent Can Lead To A Deal! - 02/21/11 03:10 PM

 
I find that many REO agents have one trait in common...they are proud beasts with little time for the rest of us, you know...those who are bringing them the business.
Ok....now for the disclaimer..."not all REO agents, I've worked with many who are very, very good at what they do and easy to work with." Whew....glad I got that out.
So....on with my post!
I'm talking about those who have the air of superiority in their voices when we call with....oh that's right, an OFFER.
If the property is in decent shape and priced correctly, no problem. We can … (14 comments)

buyers agent in a sellers market: It's Not A Buyers Market! It's Not A Sellers Market! It's An Investors Market! - 01/12/11 05:26 PM

 
 
"Cash offers only""No FHA Offers Considered""30% Or More Down Payment""Looking For Cash Offer""Fixer, As-Is, Cash Offers Preferred"
This terminology is really becoming more and more prevalent in my market. It seems that short sales, bank-owned, flippers...even equity sellers are making it clear in the listing, or through their agent, that they are wanting cash offers.
I understand...I love them too. Quick sales, fewer problems (no appraisals, lender requirements). A cash buyer can buy a home that has HOA issues, leaky roofs and missing carpets.....lenders won't lend on some of these homes.
The low listing prices are also very … (22 comments)

buyers agent in a sellers market: Your Mortgage....Not A Trivial Matter Any More - 12/09/10 02:21 PM

 
 
Truth be told, getting a mortgage and committing to a loan for 30 years should never have been a trivial matter....but it did become one. In the time of "No Doc" loans, anyone could buy a home....or almost anyone. And these buyers just assumed there would be a safety net when their loans started adjusting.
I remember one client telling me he had a 1% start rate....ONE PERCENT!  He qualified for his loan based on a 1% start rate. Holy Cow!
Now, I'm willing to admit that it was nice to know that my buyers would be able … (3 comments)

buyers agent in a sellers market: If Your Business Model is "Wham, Bam, Thank You Ma'am"....Send Me Your "Lookie Loos" - 10/23/10 09:30 PM
I've been reading more and more blog posts about how some agent has "stood up for themselves" and refused to work with buyers that weren't planning to buy that very day. When did this happen? Each situation is different.....but more and more the trend seems to be that unless the buyer has a pre-qual in hand and cash in the glove compartment, we aren't interested in talking to them.  So.....if you only want the ones with pens in their hand, send the rest to me.
In just the past 6 months, I can point to over $50,000 in personal commissions which came … (17 comments)

buyers agent in a sellers market: Anticipate The Client's Questions....Don't Wait To Be Asked - 10/06/10 11:34 AM
Sales meetings can be very enlightening.....I really need to go more often (another blog).
This week, I did manage to remember the time and showed up, and there was a popular theme (gripe)...."why didn't the client just ask me"?We all know we are in a very challenging time. Lending is tough, short sales are tough, REOs are tough....buyers and sellers are worried. Tough times! We need to be the voice of reason and sanity.....and expertise!
We are supposed to be the experts!!!We do this every day!!!
We know the aspects of these transactions. From the offer to the close, we … (12 comments)

buyers agent in a sellers market: Buying A Home Is A Series of "Yeses"....Helping The Buyers Understand This - 09/27/10 09:07 PM
Buyers are nervous....especially in this environment. As agents we can help our buyers take the steps with confidence by our explanations. I like to tell my buyers that the buying process is a series of "yeses"....we keep moving forward until we hit a "no."
1) Finding a home and writing an offer: "yes, we like the home enough to submit an offer"
2) Accepting a counter offer, or opening escrow: "yes, we accept the initial terms, subject to contingencies"
3) Reviewing the home inspection: "yes, the condition of the home is one we accept, or we ask for repairs"
4) Request … (31 comments)

buyers agent in a sellers market: 8 Times Was The Charm - 06/02/10 12:25 PM
8 different times I have sent this offer to the listing agent. Finally, after 3 months, the sellers took our offer.
I think that I actually heard the agent groan yesterday when I called, AGAIN, to see if our offer might be considered for this home, but she was actually giddy when she called last night to say they took it. The one thing she knows for sure....we want this home and I'm persistent. But it took a long time:
1) Sent offer of $335,000 on a standard sale listed at $359,000. (This was the max we could qualify for)Seller … (11 comments)

buyers agent in a sellers market: Dear Seller....You Took Too Long, My Buyer Isn't Buying Your Home Anymore - 05/06/10 10:56 PM
Everyone knows that last week was the deadline for the first time home buyer tax credit. I was working with one young couple who really needed to have that credit to buy. Not because they couldn't put the money down, but because it would use all their savings to do so....and they were borrowing $6000 from their 401K to do it. These were FHA buyers and as long as they could put the money back into the 401K (instead of making payments) they could comfortably pay the mortgage with their jobs. But they really needed that credit.
We've been looking for … (12 comments)

buyers agent in a sellers market: "They Just Aren't That Into You".....Why Sellers Take Their Time Responding To Offers - 02/02/10 07:15 PM
Too many buyers....there are just too many. Too many short sales....they just don't really care. Too many bank-owneds...they are waiting for multiple offers to come in. Listing agents can afford to be picky, and they are. I remember when an offer would be greeted with excitement and great care...now? Sometimes they aren't even acknowledged for days, let alone responded to. All this is making it very difficult on the buyer's agent to keep their clients happy.
The media is bombarding the public with bad press about the housing market. They are not discussing the multiple offers, the bombardment of buyers, nor … (39 comments)

buyers agent in a sellers market: Buying Blind.....Building Value in Our Communities - 11/07/09 09:35 AM
I live and work in Mission Viejo, California. We are in the heart of Orange County and I see a healthy recovery in process for our real estate. In fact we are in a multiple-offer market with home selling very fast...often before we can even get out to see them. I am now getting phone calls and emails from buyers asking me to write the offer BEFORE we go see it. We will go out and see it once we get an acceptance.
Backwards!
Now, don't get me wrong.....I am happy to write an offer for someone I've never met who … (5 comments)

buyers agent in a sellers market: How To Get Your Buyer's Offer Accepted: Personalize Yourself and Your Client - 10/30/09 12:46 PM
Can you even believe we are back to this point? I know there were complaints a while ago that there were no buyers, but now that the buyers are back....how do you get their offer accepted? We see some agents are writing offers considerably over asking price, but with appraisals coming in lower than the list price, that only works for cash offers where the buyer doesn't mind over-paying for a home. That's not a good idea either.
But these homes are selling. So buyers are getting their offers accepted. These are some of the techniques I've been using.
First and … (12 comments)

buyers agent in a sellers market: The Magic Eight Ball of Real Estate - 09/15/09 09:39 AM
I wish I had a Magic Eight Ball to use these days! Remember how we could find out the deepest mysteries of life by a quick shake and glance into this wonderful toy? And the good news? If we didn't like the answer.....we could shake it again until we get the answer we want. I wish I had that Ball now!
"Will they take our offer"? Maybe
"Will this home appraise for this price"? Probably not
"If we lowball this.....will someone else offer higher"? Definately Yes
"Can we still get 100% financing"? NO
Well....you get the idea!
I get tired of … (1 comments)

buyers agent in a sellers market: Games Agents Play....Fair Play? Is There A New Rule Book? - 09/12/09 10:49 AM
I'm becoming embarrassed for my profession! I am finding myself apologizing for my colleagues more and more. I had really hoped that the real estate downturn would have left the cream-of-the-crop Realtors....instead I think that the shady agents I'd hoped would leave, simply have to be more creative in their dealings. Some of the games?
* Listing homes artificially low and then denying access so they can bring their own buyers and double-end the deal
* Taking the keys from the lockbox so others can't show the home
* Writing fake offers to tie up the sellers during the short sale … (11 comments)

buyers agent in a sellers market: Multiple Offer Market...What This Means To The Buyer - 04/22/09 10:17 AM
I'm a Southern California Native! I'm biased....but I do think that Southern California has a unique quality of life and that is appealing. I'm not trying to detract from all the other wonderful places to live in this country.....I enjoy the sharp mountains of Wyoming, the red rocks of Sedona, the wide open fields of the Midwest, the lush green of Virginia...but you really can't beat our weather and the ocean. (I know that's going to draw comments). As a result of this, we are in a Multiple Offer Market.
The fact that there is only so much real estate in … (3 comments)

 
A Southern California agent's perspective on real estate and other things that interest me!


Listings

Links

Archives

RSS 2.0 Feed for this blog