client protection: And the worst part is that it is... - 05/24/08 09:26 PM
... from REALTOR Magazine.
In the June 2008 issue, on page 42, there is the following statement.
Tip 3: Build in a preset price reduction. While all our practitioners agreed that arriving at the right price the first time is the goal, sometimes you have to be a little more flexible, … (11 comments)
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client protection: Anatomy of a CMA, Part II - 05/24/08 08:18 PM
In Part I, I detailed just what a CMA was and how how to look at it.
In this episode, I am going to talk about how is is put together.
Very carefully.
This is not a science, although there is a bit of science involved. And any appraiser or agent … (4 comments)
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client protection: Anatomy of a CMA, Part I - 05/24/08 07:55 PM
Pretty much ANY real estate agent you use... with the exception of some of the limited service brokers that just put your listing on the MLS when your credit card payment clears... perform some sort of CMA on your property prior to listing.
But what IS a CMA?
That is a … (0 comments)
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client protection: Bidding for listings? - 05/03/08 01:31 PM
Let me start by getting this out of the way.
Agents, this is a public post... on purpose.
If you are a seller, and you are doing your job right by interviewing a couple of different agents, you are going to run across agents that are bidding for your listing. What does … (8 comments)
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client protection: Unacceptable... - 04/26/08 02:48 PM
While coming home from ice skating with my son today, I drove by a listing. It looked kind of interesting. Pretty yard, nice area. It made me a bit curious...
So, when I got home and my son was taking his nap, I looked it up on the MLS. I'm not going … (67 comments)
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client protection: Three things sellers can do to help their house sell - 04/12/08 04:02 PM
There are a lot of things that sellers can do to help seller their home faster and smoother. Here are a few. For more info, be sure to contact me to enroll in our Free Seller Seminar coming up in May.
Be Proactive.
A great example of this is a pre-listing inspection. Generally, … (5 comments)
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client protection: Pump up the sunshine, dance, dance...? - 04/08/08 03:42 PM
Earlier, Audrey June-Forshey posted a Member's Only blog taking listing agents to task for the attitude when presenting offers to their sellers. In essence, her point was that we needed to present those offers in a positive light. I didn't completely agree. There were some very good point, and the comments … (30 comments)
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client protection: "I'll just wait for my price." - 04/05/08 11:23 PM
I hear that a lot.
Let's talk a little about pricing strategies.
Everyone knows that if one wants to sell something fast, drop the price enough and the buyers will come out of the wood work. If, as an example, one has a house that might normally sell for $500,000, and … (13 comments)
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client protection: Seller Seminar Survey - 03/26/08 12:26 PM
I posted a couple of days ago here, and yesterday on LaneBailey.com about an idea I had for a Seller Seminar.
As things like this have a tendency to do, it has changed even in the last 24 hours. People that have sold homes previously, but not that recently, or in … (2 comments)
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client protection: First time sellers? - 03/23/08 11:02 PM
We see so many seminars for first time buyers. Everyone and their assistant it seems has a seminar for first time buyers. They bring in a mortgage pro, perhaps an inspector, and talk about the issues that people face the first time they buy a house.
I think it is a … (20 comments)
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client protection: The Real Estate Alchemist, Part III - 03/16/08 10:48 AM
This one has been kicking around in my head for a few days. I read this around the same time that I read the info for the previous installments of The Real Estate Alchemist. (I & II). As I read it, it was troubling me. I know that from what I … (9 comments)
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client protection: Should we sell our own homes? - 03/15/08 09:44 PM
Ok, not today...
Seriously, though. I ran across a post by Cynthia Tilghman asking if we would hire ourselves. It gave me a different thought though. I hinted at it in my response to her.
She asked if we would... If we looked right, and said the right things.
But, SHOULD … (16 comments)
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client protection: The Real Estate Alchemist... Part II - 03/13/08 11:13 AM
Continuing the series...
In this episode, we are going to look at seller offered commission to the buyer's agent. At the Redfin Corporate Blog, there was a recent post titled Typical is Boring, but When Selling a Home, Effective.
In the post, they compared days on market and list price/selling price ratios … (4 comments)
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client protection: Dear Mr. & Mrs. Unrealistic Buyer - 02/28/08 12:12 PM
{Back in the day, I wrote a post called Dear Mr. & Mrs. Unrealistic Seller. It was my first feature, and still sits as my busiest post with over 1500 views and around a 100 comments. Ever since October, I've wanted to write the balancing post...}
I just wanted to drop … (18 comments)
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client protection: Into the mailbag III... New home inducements - 02/28/08 11:18 AM
Back to the mailbox. These are the types of questions I am getting. Here is what I have to say:
We are thinking about buying a new construction home. In the Sunday Paper the builders seem to be giving away the world. What is the deal?
New home communities that have been around … (0 comments)
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client protection: Into the mailbag II... When should we start to look? - 02/28/08 10:49 AM
I decided to hit my inbox and see what sort of questions consumers may have...
Lane, we are thinking about buying a house in 6 or 8 months. When should we start looking?
A lot depends on the remainder of your situation. There are a few things we need to look at first:
How … (0 comments)
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client protection: Into the mailbag I... Buyer's price range - 02/28/08 10:31 AM
I decided to hit a few of the questions that I see regularly in my inbox...
Lane, we are looking for a house between $300,000 and $325,000. When you sent us listings, you sent them a little outside the range. I see houses here for $273,000 to $336,000. Why?
There are a few … (0 comments)
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client protection: You want options? I have options... - 02/09/08 02:58 PM
If you are a homeowner that wants to sell your home, I probably have an option that will work for you.
If you are comfortable handling things yourself, but want:
To be listed on both local MLSsTo be listed on a load of other sites, like Century21.com and our relocation networkTo be … (2 comments)
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client protection: Are you a seller with an expired listing? (poll) - 01/17/08 10:52 AM
Ok, I'm teasing a little.. The poll is on my website.
I am trying to look at expired listings and see what went wrong, from the perspective of the seller. I have struggled with whether I should post the link directly to the poll, but have decided that I should.
I … (0 comments)
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client protection: How is the view from the sidelines? - 01/17/08 10:35 AM
Through a search a few weeks ago I ran across Real Estate Radio's blog. I have been enjoying the read for quite a while, and even listening to some of the podcasts (they are full radio show recordings, and are two hours long). I don't listen to as much of the … (0 comments)
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client protection: MLS? Zillow? Trulia? - 12/13/07 12:46 PM
I ran across a blog post by Jay Thompson regarding a story in the Wall Street Journal about on-line home searches. He noted that in his area the WSJ had it wrong. He researched the numbers for the local MLS, Trulia and Zillow. His findings were that Zillow only showed about … (4 comments)
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client protection: Thoughts on the Foreclosure Bailout - 12/08/07 01:31 PM
Everyone has weighed in with their opinions about the proposed government bailout of some of the 1.2 million people facing foreclosure... I guess I'll toss out my nickel (side thought... if everyone that has offered an opinion actually gave up the nickel, WE could bail out the people facing foreclosure...)
I don't … (3 comments)
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client protection: Boy, I'd almost consider running to answer this one... - 11/28/07 09:56 PM
So, it's like this...
First, the video is only 27 seconds long, so feel free to watch.
Now, let me tackle the answer.
Jamie, there isn't a quick and easy answer to the question, but it looks like you think there should be from your video. But, let's look at the causes, … (10 comments)
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client protection: New pricing model - 11/14/07 09:20 AM
I'm still out here at the National Association of REALTORS(R) Convention in Las Vegas. So far, it has been a pretty cool experience. Sorry I don't have any pictures, I actually have carried my digital camera with me everywhere... but I haven't even seen the strip. So, what interesting stuff … (2 comments)
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client protection: Buyers are Liars... or not so much - 10/14/07 03:15 AM
I know, I know. It is one of those pervasive statements in real estate. Everyone in the business says it.
Buyers are liars.
But, are they really? I don't think so. My buyers tell me exactly what they want, and then they buy it. When they don't, I eventually figure out I'm … (42 comments)
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client protection: Dear Mr. & Mrs. Unrealistic Seller - 10/01/07 10:36 AM
I just wanted to drop you a quick note to let you know that it will be OK. I'm going to come out to give you a listing presentation in a little while. I don't want you to freak out or anything, so I am letting you know what I will … (96 comments)
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client protection: Z is for... - 09/17/07 10:20 PM
Z06 Corvette, Nissan 240Z, Z28 (1LE!), Zamboni, Zagato, Zonda, some other fabulous car beginning with Z....
No.
Zillow. I mean really, this is a real estate blog. How could I go through the alphabet and not hit Zillow for Z? If you don't know what Zillow is, go ahead and Google it... … (12 comments)
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client protection: Y is for Youth - 09/17/07 08:51 PM
Welcome to the home stretch... and I do mean streeeetch.
If you've been following along, you know that I have been running a series of posts going from A-Z. I am almost done, even though I don't know what Z is going to be yet...
It's Y time!
Youth... and real estate... how … (2 comments)
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client protection: X is for Xenophobia - 09/13/07 10:04 PM
I think I was at E when I figured out what the subject of this post would be. As I was writing about ethics, I knew that I would just have to do this post. However, I'm going to stretch the definition to fit my needs.
Simply put, xenophobia is the … (0 comments)
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client protection: W is for Win... and Win - 09/13/07 09:14 PM
One of my favorite things about residential real estate is that everyone can win. Think about it. We have a seller. The house is generally no longer serving their needs. Maybe they are leaving the area because of a new ob, a transfer or retirement. They might be having a new … (6 comments)
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client protection: V is for Virtual - 09/13/07 08:36 PM
I think that this might be the most over-used word in our lexicon. We live in a world of Virtuals.
Virtual AssistantsVirtual ToursVirtual StoresVirtual MeetingsVirtual OfficesAnd my very favorite...
Virtual Real EstateYes kids, there is "virtual" "real" estate. Second Life offers people the opportunity to "own" real estate in a virtual world. … (6 comments)
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client protection: T is for Technology - 09/11/07 12:20 PM
Talk about a can of worms...As an agent, there are so many types of technology, and so many options within those types that it can be overwhelming. Every day, I get dozens of emails offering me the exact new technology that is going to make buyers and sellers step all over … (3 comments)
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client protection: Q is for Quit Claim - 09/07/07 01:08 PM
Let me preface this by stating I am NOT a lawyer, I don't play one on TV, and I don't dispense legal advice. If you need specific legal advice, you need to talk to a lawyer, not a real estate agent.
A Quit Claim Deed is kind of an anomaly in … (9 comments)
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client protection: P is for Pictures - 09/06/07 02:16 PM
If your listing doesn't have good pics, you'd better make it REALLY cheap. REALLY, REALLY cheap.
84% of buyers these days start their search online. They aren't looking for prose. They want pictures. They want lots of pictures and they want those pictures to be good. If there aren't good pictures … (5 comments)
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client protection: I is for Inspection - 09/01/07 12:25 PM
This is going to be about the shortest post I've ever written...
Get a home inspection. Don't bring over Dad, or Uncle Buck, or even Cousin Vinny thinking that they can do just as good of a job. Even if they have the skills, if they aren't a certified home inspector, … (0 comments)
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client protection: E is for Ethics - 08/31/07 08:50 AM
As if it is an oddity, I'm going to step out on a limb, and make a couple of strong statements... then we'll see if I can back then up. The first statement is:
At the core, ethics are a fixed behavior.
I do believe that ethics are learned, but I think that … (1 comments)
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client protection: D is for Due Diligence - 08/29/07 03:48 PM
Welcome to part four of my A-Z journey through real estate. Of course, this isn't a definitive glossary of real estate terminology, techniques, strategies or idea, but rather just a few answers to questions. Of course, for every question that gets answered, at least one new question is raised. I guess … (0 comments)
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client protection: C is for Contingency - 08/28/07 10:28 PM
A contingency is simply a condition that must be satisfied in order for the contract to execute.
In real estate, there are several common contingencies, as well as a gazillion uncommon ones. In this post, we are only going to go over a few common contingencies. As I said previously, a … (4 comments)
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client protection: B is for Buyer's Agent - 08/27/07 10:05 PM
Simply put, a buyer's agent is the agent that work for the buyer in a real estate transaction.
More importantly (for now anyway) let's talk about what a buyer's agent is not:
The nice agent a buyer works with from the new home community.The helpful agent that has listed the property (unless … (0 comments)
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client protection: What does being a REALTOR(R) really mean? - 08/20/07 04:24 PM
This post has been floating around in my head for quite a while... if you read my blog regularly, you might have noticed that I've been dancing around this for more than a month. While my son is still groggy from his nap, and content with The Backyardigans, I'll see if … (10 comments)
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client protection: Is NAR's "non-poaching" ethic actually bad for clients? - 08/19/07 11:53 AM
I was reading Scott Daniels' blog, "It's Saturday, we can't run around for a key!". It got me thinking about something... Always a dangerous proposition.
For those of us that are REALTORS(R), we are prevented from directly marketing to other REALTORS'(R) clients. I understand the why of this policy. But, it … (12 comments)
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client protection: Closing Firms facing tough choices - 08/17/07 09:03 AM
One of my lawyer friends forwarded a story to me yesterday. He isn't involved in real estate law, but thought I might like to know what was going on. I won't copy the whole article here, but unfortunately I can't find it online in a format that doesn't require a subscription. … (3 comments)
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client protection: I can't say... - 08/11/07 12:50 PM
I know you've been asked a question about a particular area that you just couldn't answer. Ok, you could answer, but at the peril of losing your license. You know the questions.
Here is another tool in the arsenal to give to clients to find out before moving what the pitfalls and … (2 comments)
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client protection: Are there just too many real estate agents? - 08/02/07 04:52 PM
OK, stick with me here for a few minutes. I think this is becoming a more valid question. Looking at the most recent numbers I could find in a quick internet search, I found that there were over 1.3 million REALTORs (as of November 2006), and that doesn't count the ones … (6 comments)
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client protection: Hello, Media... Are You Listening? Real Estate is LOCAL. - 07/25/07 03:12 PM
How many times do we have to hear that the housing market is doing one thing... and that must mean that the whole market is doing the same thing?
When the price of a barrel of oil goes up, it is a singular commodity moving. While there are different grades of … (8 comments)
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client protection: What is a RE license really worth? - 07/24/07 06:42 PM
I alluded to this here, but didn't really jump into it. There is another part of the story though...
Let's recap. I said in the previous post that I thought that real estate licensing requirements (from the state) should be relaxed or eliminated. Pretty bold, huh? Here is what I think the … (8 comments)
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client protection: Maybe it's time to bury dual agency - 07/24/07 05:52 PM
First, let me say that I work for a brokerage that does NOT allow dual agency, but does allow designated agency.
Second, let me say that I work in a state which does allow dual agency, if it is disclosed on the contract to all parties.
But, as I look at the landscape, … (7 comments)
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client protection: The Dirty Little Secret that the FSBO Companies won't tell you. - 07/24/07 08:56 AM
I keep seeing and hearing about "dirty little secrets" that real estate agents won't tell their clients. Most of them turn out to be pretty stupid points. However, today while going through my morning routine (dead-heading, so my brain needed something to do) I thought of the dirty little secret that … (22 comments)
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client protection: What is going to happen to interest rates? - 07/23/07 01:26 PM
OK, the water is chest deep now. I started wading in here, and I just don't know when to stop.
So, what do I see happening with interest rates? Overall, I see them going down. But, I think they'll go up first. Was that vague enough that I can claim victory … (2 comments)
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client protection: Are we on the edge of a calamitous housing bubble? - 07/23/07 01:05 PM
Boy, am I going to wade into it this time...
I was wandering through the FOXNews Real Estate section, and came across this feature story. Reading this, one would think we were seriously in trouble. "... from San Francisco to San Diego — is predicted to decline 50% in the next five … (6 comments)
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client protection: Pictures are the first (and maybe last) impression you will give a buyer - 07/19/07 10:04 AM
So, don't screw it up.
Do you feel like you should rush out and buy this house?
This particular house isn't listed with an agent (to my knowledge), but is FSBO. But, this is the foot they are putting forward to try to get a buyer. Unfortunately, I have run across NUMEROUS … (9 comments)
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client protection: Customer dis-service Pt. II - 07/18/07 05:05 PM
Here is the other one...
There is some infill near where I live. There are some VERY nice houses being built in the $500k-$600k range. A couple of these were finished late last year. Now, the builder is building a small subdivision (I think it will be about 10-12 houses) next door. … (0 comments)
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client protection: Customer dis-service Pt. I - 07/18/07 04:49 PM
There are a few things that have my shorts in a bunch... so, here they are. Careful. They've been brewing for a little while.
There is a house in my subdivision that has been under contract since February... that's right, February. It will six months if it closes on time. This house … (0 comments)
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client protection: But Wal-Mart does - 07/15/07 10:32 AM
I promised a continuation of my last blog, and here it is. In the last entry, I talked a bit about limited service and discount brokerage. This time, it will be more about eliminating agents from the picture.
OK, here is the shocking statement to start off with. Buyers and sellers … (3 comments)
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client protection: Mercedes-Benz doesn't discount - 07/15/07 10:00 AM
The world has changed. The question is, "What are we going to do about it?"
Wal-Mart, Target, Harbor Freight Tools, and scores of other discounters are thriving. But, is that the model that we should pursue? Is that what our customers really want? Are we headed for extinction? With all of the … (4 comments)
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client protection: Market update for Gwinnett County, June 2007 - 07/10/07 07:58 PM
Gwinnett County sales comparison for residential real estate. 6/07
Here is a look at the residential real estate market for Gwinnett County for the last two years as well as looking at overall trends that will affect investors and “move-up” buyers in the next few months.
Looking at the … (1 comments)
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client protection: An unfortunate stereotype, part II - 07/03/07 07:16 PM
I was talking with a lawyer friend of mine, and the previousblog came up. He relayed an experience to me that he was involved with.
In another state (thankfully) there was a case with a Broker that sold a house he owned. It seems that he lied on the property disclosure, … (1 comments)
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client protection: An unfortunate stereotype - 07/02/07 08:30 AM
I had an interesting experience yesterday, and I'll get to it in just a moment.
On TV, or in the movies, I often see derogatory stereotypes of real estate agents. I see us portrayed as less than intelligent, greedy, and not very scrupled. We aren't portrayed as dangerous, but rather ineffectual. … (6 comments)
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