reno real estate: Time adjusmtents - 03/10/08 10:48 AM
How many of you are doing time adjustments in BPOs. If the market is decline 10% a year and your comps are 6 months old. do you take 5% off of the comp price? In real numbers, the house comps at $300,000 and there have been no sales for six months, do you price the homes at $285,000? … (1 comments)
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reno real estate: Does turning down a BPO give you a lower rating? - 03/05/08 10:49 AM
Does turning down a BPO give you a lower rating? I have turned down BPOs that are a four hour drive away. I have turned down BPOs that are not in my MLS. But I find it very hard to turn down a BPO in my normal area. Right now, between clients and BPOs and other family obligations, I am over busy. But I don't want to lower my rating, so I am still accepting new BPOs. Is that the correct thing to do? … (6 comments)
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reno real estate: Do you guess when doing BPOs? - 03/01/08 01:52 PM
What do you do when you are filling out a BPO and there is a question that you don't know the answer to and there is no good way to find out? For example, the BPO asks for what per cent of this neighborhood is owner occupied and it is a mandatory field. For some homes that is a easy number to get. For other locations there is no information. Do you give it your best shot and state that it is a guess in the comments? … (11 comments)
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reno real estate: Status calls on BPOs - 02/29/08 01:38 PM
I seem to be getting more and more "Please update the status of the BPO" calls and emails.
I accepted a BPO at 9 a.m. this morning. At 9:30, I get a phone call asking for a status update.
On Wednesday at 9 am, I accepted a BPO due on Monday. No problem. At 10:30 I received a phone call asking if I could complete the order by 1 pm on Wednesday (same day). I said that I couldn't but I could complete it by Thursday. They said fine. At 1:30 Wednesday (same day) I received a phone call asking me about my overdue … (8 comments)
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reno real estate: Remodeled or Remolded - 02/09/08 12:06 PM
I recently saw a listing which had the following comments: "You will not believe this house. Everything has been remolded. We did the kitchen, bathroom, bedrooms, etc. This house is amazing." I have been picturing the owner going through the house with a hose to make sure that everything is remolded.
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reno real estate: Who is leaving the industry? - 01/31/08 12:54 PM
Many real estate agents have been leaving the business. But who are leaving? Is it the inexperienced agent? Is it the agent with little business? Is it the agent who is a year away from retirement deciding to leave early? Is it an agent who is part of a team which is cutting back? Is it an agent who thinks he can make more money doing something else? … (7 comments)
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reno real estate: Realtor psychology - 01/17/08 07:35 PM
I have been really busy this month. I have been working day and night 7 days a week. The most time I have taken off is 1/2 day. I have been hoping for a break. The phone stopped ringing yesterday. I have received only junk emails. Now I am worried that I will not have enough business. I guess you can't win in this business. … (9 comments)
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reno real estate: Some interesting Reno Sparks statistics - 01/17/08 10:52 AM
In the Reno Sparks association there are about 2500 Realtors(R).
In 2007, in the Reno Sparks area, 3352 single family homes sold, 676 condos sold, 226 manufactured homes sold, 217 parcels of vacant land sold and 65 multi-family properties sold. For a total of 4536 sales. The average Realtor got paid on 3.6 sales last year. The average sales price is about $300,000.
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reno real estate: I recommended a carpet cleaner. - 01/14/08 12:36 PM
When will I learn? I had a carpet cleaner clean my house. He did a good job. He charged me $300. A client needed a carpet cleaner. They are in their 70's. I recommended him. He did an ok job. He charged them $750 for the same size home. Why can I not find someone who will do a good job 2 times in a row? … (2 comments)
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reno real estate: What if it doesn't appraise? - 01/10/08 11:21 AM
There are many new home developements in my area. One is building these very nice homes (top of the line), still under construction. The homes in the neighborhood sell for $200,000 - $250,000. The new homes will sell for $400,000 and higher. My question is how do they appraise these homes? What happens if they don't appraise? Can the builder force the buyer to give up their deposit or make the purchase? … (5 comments)
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reno real estate: BPOs and FSBOs - 01/09/08 05:58 PM
I've had two BPOs this week which were homes that sold as FSBOs six months ago. The timing indicates something strange to me. Did someone buy the home from the FSBO with no money down and had the FSBO take a second as a down payment? They then collect rent until the bank forecloses? Or am I too suspicious? … (10 comments)
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reno real estate: How long do you try something that isn't working for you? - 01/09/08 06:35 AM
You decide to try something new, mailing to a geographic farm, door knocking, calling fsbo's, advertising in a new magazine, etc. It doesn't seem to generate any results. Do you keep it up for a year, six months, 1 time, or what? Does your answer change if the activity costs time vs money? … (7 comments)
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reno real estate: Bloggers who respond after every comment - 01/08/08 02:58 PM
One thing that bugs me is bloggers who respond after every comment. It is like they have to get the last word in or they have lost the discussion. They make their point in the blog and then repeat it in the comment. If you comment about this, I promise not to respond. … (30 comments)
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reno real estate: How are banks pricing REOs? - 01/06/08 11:04 AM
These are 2300 sq ft homes. They are about 5-6 years old. At the top of the market they sold for $300,000-320,000. They are currently being sold for $250,000 - $270,000. A couple of these homes are REOs. The banks have started them at $250,000. A couple of weeks later they are $240,000. Next comes $230,000 and then $220,000. I curious as to how the banks are pricing homes in other areas.
… (6 comments)
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reno real estate: Basic Training - 01/05/08 04:05 PM
Many people write about how good their company is with basic training. I think my training was unique. I was originally licensed in California and had basic training (#1) there. I moved to Nevada and my new company insisted that I go through basic training (#2). After I had finished, they fired the trainer and hired a new one. They had us go through basic training again (#3). Here is what I learned from the different training.
OPEN HOUSES
1. Open houses are wonderful. They are a cheap way to get started in business. We had a two hour class on how to do … (7 comments)
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