Vince's Blog

"In this market, ..."

2008-03-02T22:44:28Z

Do you view contingent offers as nice safety nets, or do you see them as a vampire sees sunlight. I have seen agents recommend against properties that have contingencies or first rights of refusal and I have seen buyers request to not see them as they think that they will have to pay more than they would to supplant the offer in first position.

Do you have a feeling about homes with contingency contracts on them?

Do you think that the slow market that several areas have been experiencing is a red flag to acceptance of offers with a contingency?

I have a theory about some of the practicing real estate agents and their representation of themselves and the real estate market as a whole. I think that those practicing agents are giving some misinformation to the public and in some occasions, peers that they are mentoring are receiving a perception that becomes their reality. This misinformation usually starts in the following manner, "In this market, ...". Buyers chew this up and it becomes part of their mindset when looking for a home. Rookie Agents swallow this whole and begin to place their foundation as a salesperson (and yes friends, we are salespeople first and foremost) on these three dangerous words.

As Real Estate Professionals and not practicing real estate agents we owe our industry better than that. Just as a supervisor in a Corporate America job needs to only hear negativity once to approach it and nip it in the bud, we also need to make corrections to our peers and in some cases, subordinates as well as the general public.

A prime example is making a professional recommendation to a buyer client to present an offer that is 10% or even in excess of that less than the asking price. Now if the property is overpriced that is one thing, but to use "In this market, ..." as the justification for this is nonsensical.

Another example is a buying client wanting to make an offer that is 10% or greater below the asking price and you (or me) not counseling that buyer that an offer such as this can cause a straight rejection as opposed to acceptance or a counterproposal. Instead the way that the agent responds is "Well, In this Market, ..." and unknowingly is creating a buyer that is looking to steal properties as opposed to going out and purchasing real property that they love and want to own.

I'd like to see us Real Estate Professionals do better than this and help keep our markets healty, even during periods of correction.

This is just my observation. Any thoughts you would like to add?

Feel free to comment, email me at vince.kelly@kellyrg.com, or call me at 719-201-8580.

Thank you, Vince

The Closing Gift

2008-02-26T15:39:42Z

What do you think is the most appropriate closing gift? Do you get extravagant; or do you have a standard gift that you provide to your client? Do you purchase something different for seller's versus buyers?

I have fallen into the duldrom of not getting closing gifts. It is a habit that I picked up from a former mentor and I have not shaken it as of yet. Each time as the closing gets closer I lose my thunder of the closing gift. Believe me, it isn't greed. Although I do remember Gordon Gekko once saying, "Greed is Good". I have taught myself to believe that it is a little odd that I give a gift to someone for working within the parameters of my contract. I sure would love to employ someone and have them bring me a gift each payday. That would be very nice. I would like to have my mind changed about it.

My wife shakes her head at me when I tell her I am off to a closing and I am empty handed. I need to have some inspiration, so please let me in on your ideas of good closing gifts and inspire me to not be a closing scrooge.

Pricing Custom Homes

2008-02-26T15:27:26Z

What do you do when you are pricing a custom home and buyers and agents who aren't familiar with custom cannot grasp the difference in price per square foot?

It is easy to enter a production neighborhood and say that the price is $XYZ per square foot, but in custom land it is a little more complex than that. Build a custom home in an area that has older homes and the comparison is even more skewed.

So what is the home owner and the real estate professional supposed to do?

1. Set the price what the home will cost to reproduce and wait for the buyers to accept that is the cost?

2. Set the price at what the home would cost to reproduce and flex to the market?

3. Go off the comps that the area has and take the loss?

Is there a real right answer? I believe you give the client the information and your professional opinion and allow them to make their decision. The problem is that when the home is not closed in a specific amount of time it must be the fault of the Listing Agent. That seems to be the attitude that sellers often assume, regardless of the number of offers that have come in and amount of activity.

Best of luck selling and please use caution when quoting price per square foot with your buying clients.

I am trying to establish some Associations, HELP ME

2008-02-25T22:45:26Z

Hey ther AR community. I am trying to establish some associates in the Active Rain Community. I am not trying to limit my associations to a specific area or field, I just want to see how many I can accumulate prior to the end of March. If you don't mind please add me as an associate and I will reciprocate with you. I hope to establish a huge networking system.

My wife is a photographer and direct sales consultant (www.tarakellyphotography.com and Lia Sophia Jewlery www.liasophia.com/tarakelly if you are looking to purchase some jewlery and/or have some photography done)and she has been attending networking meetings and has met some of the most facinating people and the energy that she gets from being with people who are working at their businesses and working at their self-promotion is exciting. I am looking to get that and share that. I am needing to get going with this before she is outpacing me and I lose the title as primary bread winner.

So with that being said, please help me out and add me as an association. Also feel free to say hello in response to this unconventional blog or tell me about your successes with blogging and networking on AR or Localism.

Who has Rental / Property Managment experience in Colorado Springs

2008-02-25T22:35:41Z

Hey there Active Rain Community. I am blogging a question and hoping for some reply. I want to open a property managment division with my real estate company and I am looking for someone with experience to come along and spearhead this venture.

I am looking for an honest and hard working individual who is ready to roll up the sleeves and build a portfolio of rental properties that will be highly competitive in the El Paso County and Pikes Peak Region. I have been looking at doing this for an extended period and just have not had the time to put together a solid plan and want to bring in the right person for the conception phase of this venture.

If you are an investor with multiple rental proerties and want to offer some advice of what you like and dislike about your property manager I'd love to hear it. I would also like to hear about what rates you pay and what rates you think you should be paying.

If you are in the industry and in the El Paso County and Pikes Peak Region and want to establish a referral network for your business please feel free to contact me in a comment or add me as an associate and I'd love to network with and for you.

Help me out here. Thanks for taking your time to read and respond.

What sells your listing?

2008-02-25T17:11:36Z

I am sure that we all know that opinions are like, wait a second, this isn't the place for that type of talk. What I meant to say was that I am sure interested in your opinion and want you to know that I don't think yours stinks.

It is a trying time and I was thinking about what makes success in selling real property? Is it the properties alone? I don't think so, because I have seen some really nice properties priced well not sell; and I have seen some horrific properties sell for amounts that I cannot believe. There must be reasons for this.

I know, it is us, the Realtor Professionals.

Now it is time to tip your hand and pull the curtin back to expose the wizard behind the switches and buttons. What is it that makes your listings sell before the competition? I really would like to hear your opinions.

Is it your staging of the home? Is it your aggressive marketing plan which costs a heafty portion of your commission? Is it your extensive internet marketing campaign? Is it your office location? Is it your unique brochures and awesome yard sign? Is it your reputation in the community that people want to go to you for their real estate needs? Is it all this and more?

Please take this opportunity to not be shy, heck this is hardly public speaking. Share your "I love me" stories of how amazing you are. If you really aren't amazing and know someone who is and their secrets you can either give them the credit, or for the fun of it claim it as your own and brag to your fellow Active Rain bloggers how wonderful you are.

Looking for New and Experienced Agents

2008-02-25T16:30:20Z

How are all of you doing? Is the market treating you well? Are you being all you can be as "The Real Estate Professional"?

I'd like to say that I can offer all of that to you, but the reality is that it really is your decision and your responsibility. I am looking for agents to build a company around. My company is in place and I am in need of more agents to get signs in the ground and create the name recognition. I am not concerned with making money from my agents, I am concerned with making a name for my agents.

I have vision to open offices in several states and to grow this company into a nationally known real estate tool for all the public to use. I am looking for people who are both salespeople and ideapeople.

I am not looking for people who are driven only by the commissions they earn. Don't get me wrong, I am in sales for the unlimited income potential, but not at any cost. I am proud of my ethics and hard work and will not compromise that. As my father continually tells me, "A good name goes far, but a bad name goes further."

Back to my inquiry. I am setting a goal of 50 agents by the end of this year. I now have 9. Who is going to be 10, 11, 12, 13...?

Experienced, part-time, new agent, considering a real estate career. Come one, come all. Let's build something together.

The dreaded slip of the focus

2008-02-25T16:10:01Z

Here it is, the boring post of nothing but text. Sorry I have not been schooled in the information technology as so many in the industry have over the past few years.

My posting is about losing focus during this slowing period. I am guilty as charged. I made a choice to open an office just before the market took its first round of beatings. I labored through the year and somehow ended up going from an independent broker to an office of 10 agents. Not to say this was a bad thing, just all of a sudden had agents to take care of and no business to pass out. I am sorry to say if you are not or have not been an employing broker you may not understand this problem. I am happy to say that I do have agents who are self-sufficient and do not expect to be handed income.

Well, back to the blog. As the market softened and business became more dry, I decided to take on a part-time job to bring something into the bank account. I took a mindless job as to not get caught up and low and behold what do you think happened?

I got caught up.

Working for little income and many hours of shift work and shift trades and shift pick-up because I am a salesperson (translation, WORK-A-HOLIC). What do you think is the problem here? My Real Estate existence is suffering because of it. I have lost a hold on the market and its conditions and I have stopped talking about it when I am out (what I formally called networking).

Don't make this error. Keep the course and ride out the market while maintaining your focus on the real estate market. Keep updated to the rates, the bank owned properties (REO), the FSBO properties, the short-sale processes, the job market, and the retail market. You can make it through this and will be positioned properly for the recovery that hopefully is just a season or two away.

Relocation Issue

2007-07-16T01:07:30Z

I am just writing a mindless blog to express my frustration with a relocation situation that I have recently experienced. I met a customer, potential client, at one of my listings not too long ago. I showed my listing, a lovely home situated perfectly on a 5 acre lot in Souther Douglas County, Larkspur, Colorado, and met this wonderful family that I will not name. In my opinion, we hit it off fairly well and they expressed interest in the property as a potential for their home due to their relocation move with Lowe's. They had asked if I had worked with relocation in the past and I had, but not with Lowe's. I gave them my card and we went about the rest of our day.

I received a phone call with questions from Mr. & Mrs. Buyer about other areas in and around the listing I had met them at. I told them of my familiarity with the areas and planned to send them information and set up showings for a later date. I was asked for recommendations for a place to stay during their weekend trip and to preview some homes for them. I was in the next couple of days told that there could be a problem with them working with me because of Lowe's policy that they use a certain company as their relocation agent representative.

I understand that businesses utilize a company to make effort to maximize the services to their employees, but this particular employee had identified an agent and was happy enough with me to work on my behalf to keep me as their agent. Obviously to no avail. I would not wish any ill will toward that buyer that "got away", but I do have some ill feelings about this company that is a sponsor of our National Association of Realtors.

In my opinion, this company that is making their pitch to get the business of real estate professionals through our National Association is interrupting the very essence of our industry, competition. The fact that a member of the public could not use an agent that they wanted to use because of this company's policy makes me not want to endorse them as an accepted sponsor of my National Association. I am sure that if I were to do something to make an effort to keep a real estate company other than mine from conducting business I would face losing my broker license. I guess that our National Association doesn't have any issues with this, at least that is what I gather in the reply from our President Elect from an email I sent to him asking for his position on this.

We have been spending money in our local board PSF to keep the practice of real estate from entering in the realm of the large lenders, but this is occurring all around. Don't believe it, look at the production builders that have their own in-house lenders which afford potential customers to save "thousands" on closing costs, points, etc. You think that this is not having an impact on the resale market, think again. Now with big businesses putting the "Mom and Pop" type stores out of business and the practice of their relocation network of agents the independent real estate company is facing an up hill battle.

I can't bring up an issue without a possible solution, so here I go. Have these businesses establish their relocation network with the Realtor Associations. Let the different boards (local, state, and national) offer a designation of certified relocation specialist and have the buyer and seller leads become dispursed through that. This way all agents can take the required courses for the designation and have equal opportunity to compete. I don't mind missing out on an opportunity because I didn't meet the required qualification as long as I am afforded the opportunity to obtain the required qualification. That is the spirit of competition in my opinion. What do you think, and trust me, I have thick skin so let your opinions fly.

I apologize for the lack of graphics in the blog. I am not as blog savvy as some and I am sure that because of this my post will not be read to completion as often as the fancy ones. That is the spirit of competition and the reason that this will not make a feature listing. I promise that I will learn how to spruce it up and submit a posting that has some eye candy within the next 30 days.

Springs Expo 2007

2007-07-11T23:57:57Z

An event of large proportion is scheduled to take place on August 22, 2007 in Colorado Springs. The event location is scheduled to be at Crown Plaza (formerly the Colorado Springs Sheraton on Cirlce Drive) and the best supporting vendors the real estate industry has to offer is going to be on hand to improve your network to success.

Fresh Agents and Seasoned Agents alike are encouraged to attend this 2nd annual event. You can obtain more information about this event at www.springsexpo2007.com. Registration for classes and for vendor sponsorships can be done on the website.

Some of the scheduled events are the Mandatory Update Course, CE Credit courses, New Agent Getting Started in Real Estate, Title Insurance Companies, meet and greet with Builders, Mortgage Companies.

Please feel free to contact me for more information. There is still time to make booth reservations.

New and Experienced Agents Wanted (Colorado)

2007-06-02T16:54:31Z

In this tight market it is time to work together and build successes that will allow for us to harvest the fruits of our effort.

I have just added 5 agents in the El Paso County area to my company. I am hoping to add 10 to 20 more in the next six months and as many as possible over time. Low fees and splits. Keeping a small shop atmosphere with the majority of work to be done in the field. I am not pushing a large office philosophy, but a small boutique philosophy. Home based offices for the most part with small satellite office spread all over for your and your clients convenience.

I currently have two agents in the Douglas County area and five agents in the El Paso County area. I work in both areas as well as in Elbert County, Jefferson County, and Denver County. Currently I am looking for a small office in the Douglas County area to duplicate the small office I have in Downtown Colorado Springs. My intentions are to have four offices in each County that all agents will have access to. In order to make this possible I will need more agents to subscribe to the philosophy.

I am revamping my current website and linking the website from CS & Company (who just merged into my company, thank you Carla Starkie) with Kelly Realty Group branding.

I'd love to talk with you about your goals and see if you are a fit for this family we are building. I hope to hear from you.

Broker Cooperation

2007-06-02T16:40:31Z

I am not going to pretend that I know how each of your markets are doing, but I do know how the market where I am is doing. FLAT or should I say STALE.

What is the best way to turn things around? Is it spending more money to try to capture the buyers that are willing and able to purchase homes? Is it to hold open houses every chance possible to capture the buyers that are aimlessly driving around looking for a "steal"? Is it to get a second job to cover the overhead while this thing runs its course?

NO, NO, and heck NO.

Maybe the answer is so easy that it doesn't even become a thought. Maybe it doesn't become a thought because we are guarded about the business of making money? I think that I have been too proud to wrap my brain around the thought of broker cooperation. I am not talking about cooperative commissions, I am talking about joint efforts to bring this market along without creating a significant amount of pain to us and our peers.

What I am about to say may ruffle some feathers, but "frankly my dear, I don't give a damn." In the slow times when agents are not making money like they were typically making what is changing (other that the direction of the checking account)? Nothing. Employing brokers are not making it any easier on the Broker Associates (in most cases, and this is coming from an employing is making it easier on agents); the advertisers are not bringing their prices down (most are instituting price increases, ie. print advertisements, virtual tour companies, realtor.com and other information exchanges, IDX companies, etc.)

What are we to do when the money is going out faster and not enough is coming in. As competitive as the industry has become and with the number of discount brokerages increasing the levy is about to burst. How can we control the bleeding and keep the industry from becoming filled with part time agents who are trying to make ends meet. How do we avoid becoming the despised "hard" sales persons because we really need that next commission?

Have you looked to your peers for answers? I don't mean asking them, "what can I do to get through this?" I mean embracing your competition in your farm areas to do joint marketing, multi-house open houses, or outside the box type marketing. I have some ideas about things that can be tried. Join forces and split the expenses. There is not a guarantee that these things will work, but they are definitely worth the effort. If we can come together then together we can turn this market around. The interest rates are still favorable, the economy is plugging along, new construction is moving along, but resale is experiencing the dreaded low end of the cycle.

Do you have ideas? Are you looking for an agent to team up with in your area? What are your thoughts? Good, bad, or indifferent.

Monument Market

2007-05-18T15:48:19Z

With the new construction happening along Jackson Creek and Baptist Road areas the area is being prepared to become the next Castle Rock. The new YMCA is finally underway and there is a sense of excitement in the area. Home values are remaining flat due to the conservative nature that the production builders have been proceeding (no price increases).

The actual Town of Monument is ready for the influx of people for retail purpose, but as with any new growth there are those who are not looking for new neighbors or increased traffic. It is my opinion that this quaint little town and the neighboring town of Palmer Lake are going to become some extremely sought after locations to either own a home or plant a business. With the prime location between Denver and Colorado Springs and the lower taxes and property values than the properties that are on the north side of County Line Road in Larkspur it is ripe for investment.

The views are spectacular and the infrastructure is being prepared to support additional growth. When Jackson Creek Parkway is completed and it looks similar to the Colorado Springs throughfare of Academy Blvd the retail will be filling spaces rapidly. With filling of these spaces there will need to be more housing for the retail employees or retail business owners. I look forward to the upcoming happenings and I am glad that I moved to Monument a couple of years back when I did.

If you are looking for vacant land, resale house, new construction, commercial property, or existing businesses call me and I will help you with your investment. You will not find a real estate broker or business broker that will be able to better serve you and your needs.

Housing slump

2007-05-18T13:30:31Z

The projections are in from NAR. Anticipation of a 1 percent decline in the median price range of homes to $219,800. This is to be the first decline since NAR began keeping statistics in 1968 according to Money Magazine.

Have you been noticing that there are many agents in the industry that are getting out? I don't think that the market is going to tank, but there is going to be a significant effect that we are going to experience. I think that there are going to be many home owners that are upside-down on their homes (and you thought that only vehicle purchases could create this type of asset) and that will cause some difficulty in the resale of houses in certain markets.

Please keep in mind that the industry is regional and that not all markets will experience this decline. Research your market and make sure that you are properly educating your buyer and seller clients. If the layperson is reading the news on the internet and they are watching national news broadcast on the television they will think that the sky is falling. It is our job to make sure that our markets are properly represented and that we do not allow panic to take over the housing market. Best of luck and hang in there.

Resale vs. New Build

2007-05-16T15:58:25Z

Here in Colorado, specifically in the Colorado Springs and Monument areas, we are experiencing a tough marketplace that I contest is due to the volume of new construction inventory that resale homes are having to compete with.

Outside of the finished product being available, what does the resale home really have to offer above the new construction?

Many builders have in-house lenders that afford them the luxury of offering a no closing cost sale or some incentive to use their lender to off-set some of the costs that buyers will incur. Some creative contracting can allow for resale to do some of those things, but provided there is room for the seller to make that concession.

It adds to an already competitive market when the resale has to come up with ways to live in their home and make their decor attractive and neutral at the same time.

Any thoughts to better represent the resale versus the new build? I'd love to hear your opinion.

Colorado Springs Housing Market

2007-05-16T11:51:42Z

Good day to all of you taking your time to read my commentary on the current state of the market in Colorado Springs.

Many will tell you that it is a great day to buy a house. This, I tell you, is actually true if you can exercise some patience. The slowing trend in the housing market has created a ripple effect in the retail industry. We all know that when the retail industry is experiencing a slow then there could be potential economic waves of distress. One way that this is regulated is with the lowering of interest rates. I contest that there is a lowering coming around the bend and that the already low rates will get to an even lower rate.

The slowing of the housing market has also created a micro-market of sellers who are under the impression that they have got to get rid of their house before things get worse. I have seen list prices drop after short periods on the market when price is not necessarily the issue. Yes there will be homes that sell as soon as they are listed, but the days of 1 week on the market and 30 days till closing are not here gang.

We have buyers that are more selective and have been exercising more patience because it is afforded to them. You have become an educated consumer and are not looking to make a purchase that is done on a one day trip. The amount of inventory buyers have to select from is high and without some absorption appreciation will be what takes the hit. Houses will sell and time on market will improve, but the appreciation that is realized is what will be the difficulty home owners will encounter.

We have sellers that have over purchased and are in need of selling prior to earning equity in their home and causing them to have to over price their homes to cover real estate fees; and we have sellers who took advantage of the low rates in pulling equity out of their homes that puts them in the same position as the previous mentioned seller. The continued expansion and growth in new construction is also having an effect on the resale market. The aforementioned sellers are often competing with new builds that are priced at the same level or lower than the resale market. On top of this, production builders often have additional incentives for using their lenders that make purchasing an existing home next to a new build difficult to do. In many of these cases time is money saved. Of course there are the occasions that buyers need to find something right now and cannot afford to wait for a home to be built and us real estate professionals do not mind this occurrence.

Exercise patience and make a good selection with your real estate professional, mortgage broker/lender, and your future new home. This is a good market to be purchasing a home in. Contact me with any questions or comments or if you are looking to purchase or sell a home in the Colorado Front Range area. I am certain that I will meet and exceed your expectations.

Feed your Business

2007-05-16T11:09:48Z

Have you been feeding your business?

•· Are you reinvesting commissions into yourself?

•· Are you investing time into your sphere of influence?

•· Are you investing time into your farm areas?

If I am not mistaken, we all want to have successful careers in real estate and would like to minimize the "down" periods that commission based employment tends to experience.

Don't become the hungry shark!

This concept is not as difficult as one may think. If you are properly feeding your business then your business will grow. If you are living from closing to closing and not investing in yourself and your career then feast or famine is the end state. I can say this from experience and I am looking forward to the rewards that will be realized in due time.

Remain the real estate professional you wanted to become. Feeding your business does not have to involve spending money. I said, feeding your business does not have to involve spending money. You can get out on the streets and walk your farm area neighborhood and let your face be seen, you can interview different vendors to establish your referral network, you can revisit your business plan and verify your business model matches your budget, and/or you can read a sales strategy book. These are simple and easy things that can produce income and create confidence in your sales skills without the additional financial output.

If you have been diligent in putting marketing money aside with each transaction you close then you can invest in some innovative marketing that will separate you from the competition. This you will have to figure out on your own, but be proud of it and make it your

It's a Title Insurance Thing

2007-05-16T10:30:05Z

How many agents are carefully selecting the Title Insurance Companies that they recommend for use? We know that the majority of Seller's do not have a title company in mind and that our recommendation is what typically is used. Have you taken the time to visit with Title Representatives and see who best fits you and your business?

Keep this in mind, the "closer" you have recommended is the last contact that your client/customer has with one of your people. Yes, they are representative of you and their efforts will leave a lasting impression on your business. If a closing is smooth the client/customer will remember that. If the closing is a nightmare, the client/customer will tell their friends and family about it and everyone will remember that.

Have you taken the time to research different aspects of the title company such as additional office locations, fees for open holds, seller net sheets, fees for additional marketing assistance, fees for loan doc closings, etc.? Your responsibility to your client should have you out doing research and not just using someone that your colleague is using or the rep that came into your office or the rep that gives you free stuff.

If you are looking to build a successful career then feed your business. This is one simple task that doesn't cost anything and can help you multiply your business. Trust me, the title representatives are in the business to close transactions. If you are proactive and using them as an extension of your business there is a good chance that you will receive business from your title company. Interview and choose wisely the vendors that you have selected to add to your referral network. Best of luck.

Looking for Agents to build a Team

2007-05-15T17:23:38Z

I have opened my own office here in Colorado Springs in September of 2006. With the slow market and having to basically start over it has been challenging. I am reminded that most of the things worth anything are slow coming and that His timing is perfect. I have been thinking of hiring agents for some time and wanted to make sure that I was ready for the added responsibility of managing while still trying to sell real estate. Just like having children, there is no perfect time and if you wait for that time it will be too late. The company has an in-house custom marketing design department (Cynet Design) that is excellent. I am in the midst of revamping my website and the re-design of my signs. Timing couldn't be better for you to come on board and participate in building something special.

I am putting this blog out there hoping to find some agents that want to be a part of something that is new and exciting. I want to build a family of friends and peers that will support one another through good and bad times. I want agents who are motivated to succeed and believe that their hard work will be rewarded. If you are thinking of getting into real estate I'd love to talk with you. If you are in real estate and looking for a change I'd love to talk to you about it. Not everyone is a right fit, but maybe you are.

Comment or e-mail me if you would like to further discuss.

Buyer Agency: Is it really "free"

2007-05-15T17:08:43Z

I have been seeing the advertisements since before I entered the business, "Buyer Agency with no cost to you." To be totally honest with you, I bought into this theory for years. As this industry becomes more and more competitive I have had the opportunity to re-think alot of my "philosophy" about what real estate is. Today I had the pleasure of meeting with a Title Rep who offered me a refreshing breath of humble and honest conversation. We spoke about doing business with people that we want to do business with and about the business in general.

In the market that I am experiencing, (I say that because some of you may be selling the lights out of real estate) I have found my moment of clairity and I am going to run with it. I share this with whomever is reading not because I want to change anyone, but because I want to change me. I never thought of myself as being about the paycheck, but living by commission alone one cannot help but live under that cloud at one point in time. Now is my time for that and I am making a conscious effort to right my own ship.

I represent the transaction and my clients passionately and without compromise to my own integrity, it is all we truely have to offer that is ours alone. With this I want to be the one to state that representation for buyer clients is not always a free proposition. I want buyers to know that the cooperative commission is being paid by you when you are purchasing a home. The money was never in the seller's checking account and the seller never cut a check to the selling agent (now there may be some cases that a seller brings money to the table because they have paid themselves their equity in advance, but on most occurances this does not happen). I want to further state that unless I have otherwise made the negotiation in advance, I would like to be paid for my experience and expertise. This means that I want to negotiate with a FSBO if I am representing a buyer, for a commission; and if you the buyer are purchasing what was negotiated then you still are paying the commission.

Just thoughts that I had about representing myself in a manner that I feel is in keeping with the professional standards that the Real Estate Industry deserves. I want to represent my clients with the utmost care and professionalism possible. This "dry" season I have been experiencing has caused me to reflect and I think I will be a better Broker for my agents and a better Representative for my clients and customers.

7040 Oak Hills Court, Colorado Springs, CO 80919

2007-04-20T19:19:52Z

District 20 school.

Over 1.5 acres is this beautiful property in the Oak Hills Community. This multi-level home features four bedrooms, three and one-half bathrooms, two stone fireplaces, two wet bars, huge concrete patio, two new decks (October 2006), renovated master bathroom with large jetted tub and free standing glass block shower and slab granite counters, large kitchen with corian counter-tops, and plenty of peaceful tranquility. Come and see this and make it your own.

Motivated Seller tells me to bring all offers.

http://www.kellyrg.com/properties/7040oakhills.html

Could this be your home. Visit the information page and decide for yourself.

Door to Door?

2007-04-19T11:42:14Z

I have talked with several veteran business persons who have built themselves successful careers in real estate, mortgage brokering, insurance, etc. and they bring up the concept of going door to door within a community. Do any of the professionals reading this post employ such tactics?

I have contemplated employing this tactic, but with a twist. I have produced a mailer that I am going to deliver via the door hanger. I do not know what the response will be and I have thought about asking for feedback to the piece via electronic mail. I am an extremely low key sales person. That doesn't mean that I don't know how to ask for the check, I just do not believe that buying and selling real estate is a business that people are going to be sold on. I believe you can use your skills as a closer to assist in the decision making, but for the most part buyers and seller are going to make their decisions based upon their financial position, work constraints, and family needs. Real estate is just a very personal event in peoples lives.

Back to my original thought, what value does door to door provide the real estate professional. Does it convey that the agent is attainable and available to the people in the community? Does it simply serve as a way to put your living face in front of prospects? Does it make people in the community think that you are in "hard" sales or "pressure" real estate. Bottom line, does it add value to your career.

I am going to employ this tactic and I will report at a future date as to the results. If any of you have done any door to door, I'd love to hear your comments.

Open Houses. What do you think about them?

2007-04-18T22:15:57Z

The open house is an effective tool for building the buyer lead database. Is it an effective tool for selling a home? Are they done more often than not to pacify a seller that believes that they are the way to sell the house? What are your personal statistics on selling your listing off of an open house? I'd sure love to hear your comments and do the analysis so we can all have the statistical ammunition to combat the demad that an open house be done.

I have recently been doing open houses to make the effort to drive traffic though a sluggish market. I have noticed that more and more buyers are out and about without their realtor or without any representation. I have also noticed that a significant portion of the buyers going to open houses are evasive and do not want to be approached to help them see what the home they are viewing has to offer. Do you have any techniques that you'd like to share with the AR community to increase conversion rates on open house traffic?

Please provide some feedback on the open houses so that I can provide all of us statistical analysis. I am looking for a minimum of 50 comments to give the sample set some credibility. Thanks in advance

Contracts

2007-04-18T21:57:38Z

Has real estate contract software made agents contractually illiterate? Do you go through your contracts with your clients prior to filling them out or while you are filling them out? Do you read or have them read the contract with you to ensure that your client understands each word that they are contractually agreeing to abide by.

What do you do when the client wants to have everything paraphrased? Are you confident enough in your knowledge of the contract that you can paraphrase and cover everything that needs to be covered to CYA and CY your clients A. In Colorado there has been many recent changes to the standard contract that the Colorado Division of Real Estate has put out. Have all of you Colorado Agents taken the time to understand all of the changes and if you have questions have you talked with your managing broker or with a real estate attorney so that you can explain them to the customers and clients that you come in contact with?

With our litigious society please make sure that you are doing the right thing and understand the obligations that the real estate contract and all of its addendum's command. The public deserves that.

Franchises vs. Small Shop

2007-04-18T21:35:11Z

In this information age that we have found ourselves submerged, has the necessity of a national franchise diminished? Is it just the real estate professional that "needs" that national name recognition to make them feel more secure in their ability to generate leads? What do you think the general public has to say about it?

With the days of buyers needing to go to a real estate professional to obtain the "list" of available properties gone, where do we go from here? With the IDX and real estate search engines such as Realtor.com buyers have the marketplace at their disposal. Not only has our society become transient, so has our industry. I have personally witnessed a fairly significant amount of turnover within the business of agents moving from company to company. I don't think that it is the company that is the issue there. I have also seen several small shops that are doing the right things to provide customer service and they are reaping the rewards for their efforts.

If the statistics are looked at closely it the truth can be seen through the smoke and mirrors. Any office that has 100 plus agents will sell more houses than an office with 5 agents. Does that necessarily mean that the large office is out performing the small shop? My contention is that it is not.

Please understand that this is not me knocking the large franchise offices. Quality agents work in these shops and quality managing and employing brokers work in these shops. They are representing the public and doing a fine job of it. Those numbers do not lie.

My contention is that the real estate professional that is succeeding in a large office is doing so because of their ability. They do not have to lean on the franchise tag or pay the additional royalty of the franchise tag. They can do well in any environment that they find themselves in. The more that customers and clients can do on their own the more level the playing field is for the small shop. Smaller shops that have a cohesive group that is working within the company may offer a different environment than the 100 or more agents that are working in the "mega" shops fighting for clients as if it were a used car lot (no offense to the used car salespeople reading this).

Your success is your choice and your selection of company to work for or have working for you is your choice. Choose wisely.