Today is my last day of being an "active" realtor here in Sioux City.  I do not want to discourage anyone from this profession.  But I do pledge to inform others of the positive and negatives of choosing this as a profession.  I would not recommend this career path to someone that is a single parent.  Unless you are well prepared to go months of spending money before you make any.  Even though I had 6 months of money saved to give this 110% it still was not enough.  Before the 6 months I did this part time with another job that I did about 30 hours a week.  I will be keeping myself current on my continuing education.  There are great people in this profession.  I am still going to keep up with AR.  Now I just need to find a regular paying job.  :)

 August 3, 2009

Thanks again to everyone.

Here are some more thought on this.

My stats are close.  There is 1 Realtor for every 298 people, (this isn't households) here in the Sioux City.  If you take the surrounding area the stats do change.  I do know, that not everyone with a license is active at this 100% but it is an interesting statistic. 

Another thing for Newbies.  It is tough if you are fairly new to an area because you are competing against those that have lived their whole life in the area.  This was another big obstacle.  If I were to do this over again as a single parent?  I would make sure I had $ to support myself for at least 6 months, a year would be better.  Sioux City (personal feelings) lacks good paying part time jobs.  This could be the way to go if you can work part time with a good hourly wage and tackle RE the rest of the time.  Another thing is I would do it back home were I have loads of contacts.  We all know this makes a good foundation for farming.  I was very aggressive when it came to marketing myself because I greatly lacked personal/business contacts.  I used everything I could think of. 

Good Luck to all and thanks again for the comments.  AR is loaded with great people.

Please stop by an read some of my non-real estate writings.  Click Here

I know many of you keep updated on all aspects of being a Realtor but here is some information that may have slipped by you.  The mortgage industry is going through some changes especially those that impact time-lines.

HVCC has already went into effect May 2009.  Home Valuation Code of Conduct main goal is to boost the overall sincerity of the valuation process.  A stipulation worth mentioning is that borrowers receive a copy of their appraisal reports no less than 3 days prior to the closing absent a borrower waiver of this condition. 

HERA effective date is July 30, 2009 and amends the Truth in Lending Act (TILA).  Changes the requirement surrounding early and final disclosures to home-buyers.  Also addresses the timing of when fees can be charged.

For Realtors that have been around a few years this will be like the days of old when a 30+ day closing was the norm.  I have found that some banks are trying very hard to know all the particulars.  I have received some great information from Wells Fargo.  Also if you "google" it use the words such as "Housing and Economic Recovery Act.  Using the acronym turns up some weird results.

I have only touched the tip of the iceburg.  I am still reading up on this so I am informed and not caught with my knickers down. 

Thanks for reading.

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With Fourth of July weekend here I want to give a shout out to the dogs that serve this country.  I know handlers out there that depend on these partners to do a very dangerous job.  They are sent into mind fields sniffing for bombs.  We also have bomb sniffing dogs here in the states that work airports and other points of entry.  I know of a dog (Rex) that has sniffed the President's motorcade to make sure it is safe.  He has also done this for other dignitaries. 

My other reason for bringing this up now is that some of these dogs when retired or disabled from active service are euthanized.  I think this is a shame.  The men and woman that serve with these dogs ask for our help.  They get very emotional when they tell you that a dog that served with them was euthanized because the dog got hurt doing their job and was put down.  Many of these dogs can be placed with homes. 

Many people do not realize that these wonderful courageous dogs need homes.  So I am putting the word out.

Here is a Youtube video worth watching.  Click here to watch "War Dog".

Here is a site that helps place these dogs.  Click here.

Just when you thought it was safe to go outside, in the proverbial sense, you are hit with something new.  Purchase agreement is all initialed, dated and signed.  The seller has agreed to include in the sale his riding lawnmower and a few other items.  Then behold a call comes saying, sorry but that cannot be included in the purchase agreement.  Needs to be off of there.  Okay, so we are trying to do things above board and now this.  Now you have to go back and explain this to your clients that this needs to be done over, and need to exclude the personal items.  Now we need to do a separate bill of sale for these items.  No explanation other than the underwriters do not want this. 

Make sure it is in writing somewhere, if you are asked not to include this in the purchase agreement. 

This is going on here in Iowa and is being perpetrated by a large bank.  Is anyone having these issues where they are at? 

The Governor of Iowa has vetoed to postpone the start date of legislation passed earlier for inspection of septic tanks at time of transfer from a sale.  The new law requires that every home/building served by a septic system have that septic system inspected prior to the sale or deed transfer for the home/building.  Some where hoping for the postponement so things could be better organized and getting people certified to do the inspections.  Some counties in Iowa already have this in their laws, so the transition will be nil.  Many Realtors in the state are well aware of this new law but I find that many homeowners out in rural Iowa no nothing about this.  So spread the word.  Goes into effect July 1, 2009.

There are many websites out there with information.  One site that has some information is the DNR site, click here to visit.

Thanks for reading.

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Actually we do need to have ethical standards.  It would be nice if everyone could play by the rules.  But, not everyone plays nice in the sandbox.  If you look at surveys or statistic's on where real estate agents fall on the list of honest professionals we are just above lawyers and used car salesman.  I know we will never rank at the top, which is usually reserved for nurses, pharmacist, policeman and doctors.  If you look at the Gallup Poll of 2008 you will see that real estate agents are just above lawyers and union leaders.  After the year the bankers had in 2008, they ranked above real estate agents.  So what does that say about our profession?  That we may have an image problem and that we have some work to do.  I hope that the days of advertising that we are "million dollar producer" are behind us.  The public misunderstood that statement into thinking we made that much money.  The perception was all we thought about were the big bucks we were pulling in.  Not only do we need to make sure we are honest but what about other agents?  Do you look the other way when an agent has crossed the line?  When an agent is dishonest it make's the rest of us look bad.  It then makes our job tougher in letting the public know that they small minority does not represent all of us.  It is a dilemma that we face when dealing within the ranks of taking care of the bad apples.  Do you go to their Broker?  What if it is a Broker?  Do you go to the commission?  Me personally!  I am at the age where I speak my mind.  I got to the point; if you can't play fair I will let you know.  Actually I was like this in my younger days sitting in my criminal justice class during the mess with LAPD and Rodney King.  We were watching the tape of the officers beating King while he lay on the ground.  Up to a point I was okay with how they, the officers were handling it.  Then when I felt they had crossed the line but kept going I made the comment, "fire em all, starting with the Sergeant on the scene".  Boy, did that cause a very big discussion.  My point is, once something happens that draws negative attention it then takes twice as much work to overcome it.  Though there is more attention paid to law enforcement when they cross that ethical line than there is to real estate agents.  It is still something that we have to work doubly hard to get that negative image out of the public's eye. 

Always put the interest of the client first.  Use honesty and integrity when dealing with the wishes and desires of your client.  If the agent pulls there weight in doing this, then the work of overcoming negative obstacles will be few.  Energy used for helping customers/clients is better than wasting it on fixing problems others created.  For those that continually cannot play nice in the sandbox!  Play nice or find your own sandbox to play in. 

My recent visit to the Capital of my state too visit with IAR lobbyist and our state representatives has me wondering how many out there in the real estate world really pay attention. I blogged about the visit and I am surprised at the number of comments made, actually the lack of comments. I have had some readers and I am thankful that they stopped by. Some of the issues we face in my state of Iowa is in my opinion poorly written or absurd. Last year was the ‘Septic Tank Certification' when selling. This goes into effect July 1, 2009. The cost to have this done by a certified person can run about $5000, unless you can find others in your area that need it done too, it knocks the price down. The main reason for the high price is there is really no one certified to test the septic tanks. One issue being discussed on the "hill" is lead paint. We all agree this is a health issue and should not be ignored. Here in Iowa there is an estimate of 1,000,000 homes that were built before 1978. The way the bill/file is written requires testing and abatement of lead hazards in residential dwellings. Also, a health care provider can test your child and if that child has elevated levels your home address will be put in a registry with the county assessors office.

These are some of the issues that have come before our legislators and it does not stop here. It is so easy to just go about your business everyday as a Realtor but don't we owe it to our past, present, and future clients to at least have a general idea of what the issues are that have an impact on homeowners. I have been reading up on the septic tank issue since it does go into affect here soon just so I am aware of what my sellers will need to do.

To be informed is to have power and knowledge. It is just a "Google" away to see what is going on with your state legislatures.

Thanks for reading.

Yesterday, March 25, 2009 was bus-in day for Iowa Realtors.  It was a long day but worth the trip.  I went representing Sioux City and we had 18 that attended.  We boarded a bus at 7:15 and got on the road about 7:30.  We stopped and picked up 4 more in Webster City.  Arrived in Des Moines about noon and dropped off at the convention center for lunch and speakers.

The key speaker was John Tuccillo the former Chief Economist for the National Association of Realtors.  He is considered one of the foremost real estate economists in the nation.  It was a good speech with a reality check but backed up with optimism.  We also were briefed on the issues by Jennifer Kingland and she answered a few questions before we headed out to the Hill.

The Issues:

Private Cause of Action:

The IAR supports amending H712 and S178 file - There are several groups that are exempt from being sued as written, such as, lawyers, insurance companies, doctors and many others.  Real estate licenses are not currently exempt and the IAR is working on an amendment to include real estate licenses to be exempt.  Talking with Representative Chris Rants said why not just get rid of this legislation altogether.

Lead Base Paint:

The IAR opposes S213 and H448 file - this requires testing and abatement of lead hazards in residential dwellings constructed prior to 1978.  There is an estimate that there are 1,000,000 residential dwellings built before 1978 that would fall into this required inspection and abatement before selling.  This will create a significant burden on Iowan homeowners.  There was a mutual agreement that this is a health issue and a concern but feel this is not the answer to solve this problem.

Local Option Taxes and Impact Fees:

The IAR opposes Senate Study Bill 1308 - this allows new taxes and fees from entertainment tax, cigarette tax and income tax.  Not all of the tax revenue will go toward property tax relief.  The IAR feels this will not solve the problems with escalating property taxes.

Other issues - Property Assessment Appeals Board, Homestead Property Tax Credit and Real Estate Transfer Taxes.

To get more information, click here.  Check out Hill Notes.

Another good website for Realtors and homeowners is Iowa Property Owners Alliance. This will keep you informed on issues affecting your Iowa property ownership rights, and gives you a voice to contact your local and state policymakers.  Become a member and let your clients know about this site. 

For the Iowa Property Owners Alliance website, click here. 

For those that did not attend you missed a great day.  I plan on going next year and I encourage others to do the same.  For those in other states that do a function like this go!  If your state Realtor association does not do this maybe it's time to get organized and plan a visit to your Capital.

Thanks for reading.

Tomorrow I will be going on the Legislative Bus-In day.  Iowa Association of Realtors does an annual trip to the Capital to meet with the legislative delegation.  This is a great opportunity to discuss the issues and let the legislative body know we are following what they do on the Hill. 

This is free for Realtors and if you aren't going, plan on attending in 2010.  For those going, hope to see you there.

 Stop by my website by clicking here.  Thanks for reading. 

For those that may have read an earlier blog were I wrote about having to work full time in retail.  I have left retail and moved into a part time job.  My big issue right now is am I at the right place for my Real Estate career.  I have been there over a year and still have had little guidance.  At least from my perspective.  I want to hear from agents their experiences on being with a good agency's.  Did you have mentoring?  What kind of support did you have?  I am very frustrated and I am contemplating hanging up my real estate career.  I have wanted this for many years and probably waited too long to do this.  This is not a profession for a single parent.  Juggling parenting, job and real estate has taken it's toll.  A part of me thinks if I had a little more guidance from someone in my office I wouldn't still be treading water and getting know where.  I have tried to get with someone to show me the ropes but everyone is off doing there own thing.  My broker/owner is always on the go and very hard to track down.  I have learned more from reading blogs on AR than I have from my broker/office. 

I am not ready to give up, especially since I have options.  The one thing I do not want to do is make the same mistake.  I want to hear is this how it is?  Am I expecting too much?  What are the key things I should ask?  What are the key things I should be listening for?

AR is a great community and I know I will have great responses.