I've had the pleasure to take some time and visit a few posts about how several of our members feel about working on Thanksgiving. Comments span the spectrum and everyone who took the time to post or comment on a post should all be considered correct! This is America. We should all be thankful to even be having this argument, whether one should work or lay off for the Great American Holiday.
When you get right down to it, it's MY CHOICE as an American! If I want to work, eat, blog, play, go to a movie, eat more, visit friends, sell a home, shop at Walmart, or whatever. We should be so lucky to have the liberty to make the choice.
As for me really, I can't decide what I will do. I guess if EVERYTHING was shut down, then someone would have made the choice for me.
Sorry for the length of this blog, but it was necessary to accomodate the case-and-point. The importance of choosing the right professional has never been more important in today's real estate climate.
Whether you are buying or selling, a qualified real estate professional will help you successfully navigate the entire process of a real estate adventure-transaction, regardless of the complexity. Searching for the right real estate professional can be a daunting task and when trying to decide what to look for in a good agent, the following topics and ideas should be considered.
1. Training/Education. We all know there simply is no substitute for age and wisdom. They go hand in hand. When considering "hiring" a professional to assist or handle a real estate transaction, experience, education, and training background should all be considered. Continued professional training and education is a strong indicator to an agents dedication and commitment to their profession. An agent who takes the initiative to continually improve their knowledge base, and those who train into specialties and receive special designations, are agents that should make the cut. Aside from the State of Mississippi requirement of only 8 hours of continuing education every two years, study initiative and the determination to be a good professional separates the knowledgable haves from the have-nots. Knowledge is key to everything in real estate, and together with experience and wisdom, is the formula for success. It is this success factor that is in the customer's or client's best interest.
2. Experience. Ever purchase a car without a test drive? Probably not. Choosing a real estate professional without a sufficient level of expertise is probably not wise either. While length of professional service alone is no guarantee of professional excellence, it is believed that, in general, the more experience a professional has, the more experiential knowledge they acquire. To consumers in the selection process, this becomes the most important element of qualification. left unchecked, an inexperienced agent can cost you, and most often, without your knowledge. When choosing an agent with a less than desirable level of experience, request references or ensure that the agent is under good tutelage or mentorship. * Initiation * Negotiation * Mediation * Calculation * Finalization These are not skills that are perfected by classroom study. They are indeed a skill set learned and improved over time and with actual experience.
3. Availability. Now here is a tough one. Some of the best agents you can think of are, well, usually not available when you need them. Good Buyer's agents are busy, usually with buyers. Others agents may be listing agents and that is what they practice. They list properties. An abundance of listings is, by design, what makes them successful. With this abundance, an agent relies on the odds of selling and most often equates to their top production status (especially through the consumers eyes). It is a percentages game, usually at the cost of customer service. Choose a busy listing agent and the liklihood of recieiving good customer service is greatly diminished. They will market your home the most convenient and efficient way they know as they will continue to list more homes. You should always choose a professional that will provide you full-time availability and whether you choose a Seller's or Buyer's agent, they should provide you with a commitment of service.
4. Service Ability. Related to, and in contast to Availability, good customer or client service is an important attribute of a good agent. They are good time managers and stay in contact with you, providing you with accurate and timely information about the housing market, enabling you to make smarter marketing and buying decisions, as necessary. Good agents are tuned in to their market and their clients. They will stay the course with you and be available when you need them. Question: Will the agent you use to market your home take you from beginning to end? Will they handle all the marketing aspects and advertising for your home? Or will they drop off your file with a company "staffer", letting them handle all the details of marketing, the sale, and all of the details of your transaction? Always ask an agent about their "process". There is as much individually here as there are agents. Question: Will your Buyers Agent spend the time with you to help you determine the right home. Will they provide you with a "complete" amount of information or provide you with the right resources? Will they willingly show you all the homes that meet your criteria, or just those in their inventory?
5. Technology Resources. Today, here is where the 'NOW' rubber meets the road. The agent you choose may have knowledge of the area and provide you with friendly customer service. But have they progressed in their profession, technologically speaking? Are they techno-resourseful? Can they deliver all of the above expectations with-and by-todays standards? Technology is well upon the real estate industry and has led to the creation of a new genre of Top Producers while some agents continue to conduct their business-as-usual. Agents that embrace and implement new technologies are spending more time and money leaning and implementing technologies to market their listings. It has become personal again. Most large companies make the technology and tools available to their agents, but agents must be willing to spend the money and extra time to effectively leverage these tools. Many companies simply do not train agents to be techno-savvy. This can be most evident by whether an agent has their own website or whether they employ additional tools or internet syndication methods in their property marketing plans. A good agent will offer value added services in addition to what their company provides.
Here is where good listing agents can make the overall grade:
* Implemented Technology
* On-line Social Networking
* Internet Marketing
* Internet Syndication
* Blogging
* Visual and Virtual Tours
* Multiplex Communications
* Leads Generation Systems
In summary, the agent selected to represent one's real estate transaction should be examined closely. Ensure that they meet or exceed your expectations. Ask questions about their qualifications using the above guidelines and ensure that you are comfortable with their qualifications. A good agent should not hesitate to provide you with a resume and the consumer should never hesitate to ask for one. Also, seek out references. Check with past clients with whom they previously worked. Your real estate agent is like the other professionals you choose in life...and it's usually not your cousin or your sister-in-law. There are many resources available to guide you in locating the right agent equal to your task. There are new standards in our business. Overall, it is an important decision and once you make your selection, you should expect results equal to that choice.
Great value real estate in Tupelo, MS. Check out the virtual tour on this 5,400 sf home featuring a high-tech full walk-out basement (green technology) and great panoramic views of Big Oaks golf course from atop a hill overlooking the #2 tee box.
Great price at less than $90 per foot for a custom home with this many amenities.
Check out the virtual tour on this one by clicking on the photo.
Amenities include:
2 x 6 Frame Construction
Master Wing with Snoring Room
4 Bedrooms, 3.5 Baths
Huge kitchen with Quartz tops
Triple attached garage
Office
Game Room
Full bar area
"Man Cave"
3/4 inch hardwood floors, tiled wet areas and kitchen
Exit Realty is poised to become the largest most productively successful real estate company, ever! That's according to founder and CEO Steve Morris, who has been on the money with all of his prognostications since launching the fastest growing real estate franchise operation in N. American history. When top producing agents from other national franchises show up to join Exit, it is a pure testament to the forsight these agents bring with them and the complete understanding of future success this company can provide them and their families. Vincent Arcuri, previous top producing ERA Real Estate agent, believes that by 2019 Exit Realty will be the largest such franchise operation on the continent.
He also states that during his last full year with ERA that his team paid $56,000 to ERA in commission royalties for 2008. The modest and reasonable transaction fees with Exit Realty are capped and would have saved Vincent $52,300 that year alone. Add to that the money saved because of no desk fees and the money earned with residuals and one begins to understand the earnings potential Exit Realty provides to ALL its Associates. More than 100% split on commissions. Some agents with Exit are said to be earning more than 150%, 200%, 300% or even higher. Valerie Reyes, top sponsoring agent in New York, is said to be earning over 600% of her sales commissions.
Most traditional real estate agents do not understand the power of single level residuals and should look to Exit Realty's corporate website for complete information on Residuals, Retirement, and Beneficiary Benefits.
Visit http://exitrealty.com for information or for a confidential discussion on how Exit Realty can benefit you and your family, call or contact Randy Landis at 662-231-9107. Exit Realty Premier, Tupelo, MS.
After reading a post this morning from a fellow Tupelo, Mississippi, Realtor and colleage, I felt compelled to apply a ditto to her post and to further catagorize the folks in our business that do things the right way. I recently read an article about Cecile Licad, a concert pianist from the Philippines, (who I also had the priviledge of seeing perform) who was described as a "Pianist's Pianist". Thoughts prevailing, how can the true professionals in our business hold ourselves to a certain standard, and be recognized, without having to pay big $$ for top billing and paid placements like, say for example, a "Top 5" club member? How about a standard of performance we all could be proud of. Something earned through reputation.
How about a "Realtor's REALTOR"!
A Realtor that would:
call to make appointments to show your listing
contact you (unprompted) after a showing with healthy feedback
not wait until 7:30 on a Friday evening to dive into your evening
not pass the buck when they drop the ball
return phone calls in a timely manner
stand up your blown over direction sign when they put theirs on the same corner
not lose the keys to your listing and fail to admit it
care about you and your relationship with your client
cover for you when you need covering the most
give instead of take, take, take
do their Due Diligence
Okay. Ya'll might think I'm dreaming, but aren't there many things in our profession that are taken for granted. In one of my previous posts Agent Mutants-Only the Strong Will Survive I discussed how I felt that many agents were taking toomany shortcuts and they were detrimental to our already strained reputation. Agents should be trained to respect each others client relationships. Ann Myers with Cotland Realty in Lee County, MS, posted this morning the "7 dangers to showing property without an appointment" and by all accounts was right on the money.
How should a Realtor's REALTOR be described or rated? Let me tell you...it sure wouldn't be by the number of open house lunches!!!
Yesterday, Ben Bernanke, Fed Chaiman, announced while taking questions after a speech that the recession was over. Although unemployment levels are alarmingly high, his stance was that on most technical levels, the recession has ended, but that it would be a long painful recovery, well into next year.
Recently, Standard & Poor's reported that its S&P/Case-Shiller U.S. National Home Price index of real-estate values increased during the second quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.
In short, does this data suggest that real-estate prices hit a bottom some time during the second quarter, and have now begun to rise? There's no way to be certain that this marks the end of the long, painful correction that followed the real-estate bubble, but clearly prices are no longer in free-fall. That means if you've been sitting on the fence, it's time to act.
As a real estate agent, broker, homeowner and investor, I can understand why buyers have been cautious. Few want to buy in down markets, just as stock buyers avoid bear markets. And for most people, of course, buying a house is a much bigger decision than buying a stock. But with real-estate prices nationally now down about 30% from their 2006 peak and showing signs of turning up, the prices aren't likely to go much lower. Every real-estate market is local, and so there may be a few exceptions. Overall, though, I can't imagine a better time to buy than now
The real attraction compared to bargain prices is the cost of obtaining a mortgage. Rates since Labor Day have dropped to some of the lowest levels of the last two years. 15 year rates were the most attractive however, there are some reports that lenders are moving loan closing costs upward.
In addition to bargain prices and great rates, buyers also should find plenty of homes to choose from. The national inventory of unsold homes was 4.09 million units in July, up 7.3% from June, according to the National Association of Realtors. Even the stricter appraisal process is working to the advantage of buyers. Appraisals are coming in far lower than most sellers have been expecting, forcing them to face the new reality of sharply lower prices. And with stricter standards, lenders aren't going to let buyers borrow more than they can afford, which protects buyers and helps to keep prices down.
Unless you're really prepared to accept the demands (and headaches) of being a landlord, direct ownership of real estate as an investment is not recommended. The days of buyers lining up to flip Miami Beach and Las Vegas condos are mercifully gone.
There are much easier ways to make money in real estate, such as real-estate investment trusts or buying shares in home builders and other housing-related businesses (such as Home Depot). Historically, the mean rate of return on real estate has been around 3%, according to research from Yale economist Robert Shiller, who co-developed the Case-Shiller index. Shares in REITs and other stocks have often done much better.
But there's a good reason homeownership has been such a central part of the American dream. It delivers security, pride of ownership, a sense of community and decent investment returns as a bonus. On the other side of the foreclosure crisis is another story. For every hardship story, and no doubt there are many, others are realizing their dreams of home ownership and getting what may well turn out to be the deals of their lives.
Partial content courtesy of Jeremy Less, Community Mortgage, Memphis, TN
With permission from our North American President, I am re-posting her blog and invite anyone who wishes to hear about our real estate market or where the housing market is headed, tune in to her Public Webinar on June 24th. Information follows:
Is it still reasonable to dream the dream of home ownership? Although the white picket fence comes in many forms nowadays, from condos to co-ops, from townhomes to bungalows, the dream is still a realistic one for American families this June, Homeownership Month.
"It's not just a platitude to say that this is the best time in years to buy real estate," says Tami Bonnell, President of the US Organization of EXIT Realty Corp. International. "The National Association of Homebuilders recently announced that housing affordability has jumped to its highest point in the past 18 years and the National Association of REALTORS®reported that existing home sales rose in April."
Industry insiders know this is good news but it has left consumers with many questions. In order to address those questions, Ms Bonnell will be holding two free, half-hour webinars for the general public on Wednesday, June 24th at 4:00 p.m. and 7:00 p.m. ET. There will be an opportunity for attendees to ask questions during the sessions. Now anyone can ask an objective, experienced real estate executive for the real scoop - and get a straight answer. This is a must-attend event for anyone who is thinking of buying or selling real estate or wondering about where the market is going.
To participate, visit the homepage of www.exitrealty.com and click on either the 4:00 link or 7:00 link to register. You will need an internet connection and speakers to participate.
I posted information in January about market timing and today I was reminded how tough it is, or isn't to do so. Watching the news over and over has been verifiably disheartening and recently, the few positive things thrown in the press mix are starting to have a positive effect on me.
I believe my mind has choosen to ignore the "bad" and pay strict attention to the "good". When the good news hits the airwaves, it is resounding to me. Am I re-programmed? I believe that one can be so tired of hearing nothing but negative, that subconciously, it's all tuned-out and then tuned-back automatically when we hear positive things. Can somebody please launch a "good-news" channel? Just think of the people that would tune in. Now, there is a whole new untapped market just waiting to be had!
Last January I wrote:
"The other day, I asked a friend of mine who plays the stock market, whether he has ever successfully timed the bottom of a market swing. His reply - "No." If market timing were that simple, there would be many more rich people in this world. Everything we were ever taught, while in school and during the course of our entire lives, was to always Buy Low and Sell High! If most buyers would concentrate more on just buying low with historically low interest rates, then market timing isn't really that important. Waiting for prices to drop another 5-10% means nothing when interest rates climb three quarters to a point above where they currently are.
Consumers will lead us out of this recession and when it's all in the rear-view mirror, there will be a big collective sigh of relief and two catagories of post recession comments: 1) "I'm sure glad we bought when we did!" and 2) "I sure wish I would have bought when the market was at the bottom."
You see, nobody knows what the bottom looks like when you are there. It's only when your on the way up that you recognize it. By then, you missed it!"
There are some good things happening and maybe timing this market bottom is not as hard as it seemed it would be. I keep hearing that we are here and we very well could be. Then again, it may take a little while while longer but one thing's for sure, when the ride up comes, it will be a good ride to catch. As we all tune-in to the good stuff, good things will happen!
And if you are in the market to buy...then get in already and buy something!
We've been receiving calls all day about the "announced" ability to use the $8000 first-time homebuyer tax credit FOR DOWN PAYMENT. "
HOLD YOUR HORSES... it doesn't exist.... YET!
HUD Secretary Donovan appeared at a NAR function earlier today, and this is an exact excerpt of his remarks:
"We all want to enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash can be used as a downpayment. So FHA will permit trusted FHA-approved lenders and HUD-approved nonprofits, as well as state and local governmental entities to "monetize" the tax credit through short-term bridge loans. We think the policy is a real win for everyone, ensuring that borrowers can tap into the numerous organizations that are already part of the FHA network to receive this additional benefit. FHA will be publishing the details shortly."
Okay - so what does that MEAN? It means that they are about to "officially" put their stamp on approving the process (and authority) on who/where/why/when a first-time homebuyer can get a LOAN for the $8000 tax credit - to be used as part of the required down payment!
THIS IS HUGE! As soon as the "official" announcement is out, we will get it to you.
During this visit to AR I noticed that I was just a mere blog away from achieving a milestone on AR.
20,000 Points!
I feel like yelling "SCOOOORE" like a European soccer announcer. It's a milestone for me anyway. When I started on AR over 2 years ago, maybe more, I never thought I'd get this far. I don't get many points for associations...I have hardly any. I don't get points from other bloggers...nobody I ever introduced to AR ever blogs about anything. I just peck away at AR, one post at a time. A comment here, a comment there. Some days I might even post 3 comments! I definately read more blogs than I post so hence, my milestone is like the finish line to someone who never runs marathons. Bloggers: Thanks for all your posts and good reading. And just to celebrate my milestone, I will post a listing:
BIG OAKS GOLF COURSE The last remaining undeveloped lot and the biggest of the Big Oaks estate lots, this home site features a panoramic view of the Big Oaks golf course and lakes. Situated at the end of a Cul-de-Sac, the back of this site is private, except for passer-by-golfers. One of a kind view and location within sight of the Barnes Crossing Mall and shopping district. Best area price of any comparable golf course development lot. Underground utilities. No golf club membership required. Separate swimming pool memberships may be available. Minimum building requirement of 3,000 square feet and restrictive covenants apply.
Tupelo Real Estate, Home sales and marketing related information in and around Tupelo, Saltillo, and the NE Ms area. Serving Tupelo, Belden, Saltillo, and Guntown and surrounding communities. Comments, discussions, and information on real estate, the real estate profession, and associated services.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Is it still reasonable to dream the dream of home ownership? Although the white picket fence comes in many forms nowadays, from condos to co-ops, from townhomes to bungalows, the dream is still a realistic one for American families this June, Homeownership Month.
;)
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