Sue's Blog

Location Location Location

Sue Riley, GRI (RE/MAX) — Mon, 23 Mar 2009 18:09:55 -0500

They say that these are the three most important words in Real Estate. I spent last week in New York City on spring break with my family and realized how this is true.

There was an article on the local news on how much you could get for $3,000 rent per month, in Texas the answer is a lot of house. In New York on Manhattan it is a 1 bed 800 square foot apartment.

We decided to get breakfast one morning close to our hotel on Times Square, where else could you be charged $7 for a side of bacon on top of the $15 for a couple of pancakes?

Then, look at the apartment buildings that line central park just to be close to the park can cost millions of dollars but if I lived in New York City that is exactly where I would want to be.

i always tell my clients that there are only 2 things that you have control over and that is the condition of your home and the price, unfortunately you cannot change the location so buy wisely.

I have sold 2 homes in an active adult community both of which back up to a road. This was a plus for the seller as other homes had neighbors right behind them. They even paid a premium to the builder for these lots. Unfortunately, when it came to sell the buyers did not agree and time and time again the feedback mentioned the road. I have another listing in the same location and out of 3 showings 2 mentioned the road.

So, remember as you buy or when you sell you cannot change it but location is important.

When did you last tell someone they did a good job?

Sue Riley, GRI (RE/MAX) — Thu, 08 Jan 2009 13:09:49 -0600

We are all good at complaining when things go wrong but when did you last pick up the phone or write a note and tell someone what a good job they did?

I just received a call from a friend who had bumped into my son at a fast food restaurant and wanted to tell me how nice and polite and friendly he was to them.

If you are the parent of a typical17 year old son you will appreciate how much this meant to me. Not only that my son was pleasant and polite but that she cared enough to pick up the phone and tell me.

So, I challenge you, pick up the phone, write that note and make the effort to make someone's day.

Blogging for bloggings sake

Sue Riley, GRI (RE/MAX) — Thu, 08 Jan 2009 12:50:57 -0600

I have heard so much about blogging and how important it is. I have heard about agents who have found clients or have been found by clients through active rain.

However, is it worth blogging for blogging's sake? Is it necessary to have good content, an original idea. lots of graphics or can you just write simply about ideas and experiences?

I sometimes think of an idea for a blog only to find out that someone else has already written on that topic so I do not feel that I am original and so do no t write.

One of my goals for the new year is to be more visible on the Internet, is blogging the answer for everyone or just those with great ideas and writing skills?

These are rhetorical questions but if anyone has any answers I would be interested to hear your views.

HUD Foreclosure question

Sue Riley, GRI (RE/MAX) — Wed, 22 Oct 2008 21:18:52 -0500

I have a buyer who has been contacting me for information on HUD homes. He has been looking at the bidselect website to see the homes that are available. On the details of many of the homes it tells you that you can buy the home with a program that allows for only $100 down.

I have not been able to find any information about this.

Is there anyone out there that can help me?

Thanks

Sue

What do you gain on Active Rain?

Sue Riley, GRI (RE/MAX) — Sat, 09 Aug 2008 17:28:41 -0500

I have been looking at this site and blogging a little over the last few months.

I have often wondered what are the benefits of spending time here.

I have read of agents that have received business and referrals. That is wonderful and I hope that it happens to me soon.

I have found that this site is valuable for the amount of information that can be gained. It is useful to see what other people are experiencing, gain some insight on a situation and to know that you are not the only one dealing with the same issues.

So, what do you gain on Active Rain. Why is it worth your valuable time to spend time in the rain?

Real Estate Roller Coaster

Sue Riley, GRI (RE/MAX) — Sat, 09 Aug 2008 16:11:07 -0500

Sounds like fun ride but the reality is not fun.

I start each year with good work habits and systems. I am determined not to get caught up with my clients and not prospect or lead generate. Then I get really busy.

These last few months have been my busiest yet.

I got to go on a European tour from Venice to Paris ( that was fun!)

I am now back and I realise that my pipeline or funnel is not as full as I would like and I have to get serious about generating business.

So where are you? Are you coming down the hill screaming with you hands in the air or are you with me climbing back up the hill ready for the next ride.

Do you have great systems in place so that this does not happen to you?

This is why I love my office family

Sue Riley, GRI (RE/MAX) — Sat, 09 Aug 2008 15:55:42 -0500

This is one reason out of many.

The Samaritan Inn is the only homeless shelter in Collin County. There are many families seeking refuge and help from this great organization.

They recently opend the Gateway Apartment complex which was built with individual and company donations

The apartments are for families to rent at a reduced rent so that they can get themselves back on their feet. It is the next step after the programs in the Samaritan Inn.

The apartments need furniture, beds and bedding, kitchen utensils etc.. This is where our office came in. Our broker suggested that we adopt an apartment. Because of the donations of many of our agents along with family, friends and business contacts and through the hard work of agents in the office we were able to witness a family move in to their new apartment this week.

As you can see the apartment looks great. The family gets to take all the furnishings with them when they move out.

This is a fabulous project, a great way to give back and makes me proud to be associated with RE/MAX Four Corners.

To find out more about the Inn go to http://www.thesamaritaninn.org/

I feel like a new woman!

Sue Riley, GRI (RE/MAX) — Tue, 18 Mar 2008 22:17:12 -0500

I have had 2 major frustrations in my business recently.

The first was my cell phone. I was with T Mobile and for some reason had terrible service. I often could not make calls and if I did call for more than a couple of minutes the call would drop. After many calls to T Mobile I decided to cut my losses ($200 for cancelling my service) and changed to AT&T. I got a good deal on a Blackberry and I love it. It actually makes calls and I can talk to clients without having to apologise for dropping their call or asking them to repeat what they said. I can check email when I am away from my computer and find that I am able to save time and keep on top of everything.

The second is my vehicle. I have been driving a minivan which has seen better days and sometimes made me wonder if it would make it. I drove 27,600 miles last year and the gas consumption is not good, especially as gas prices keep rising.

Last week I bought a new car. I have a 2008 Honda Accord and I love it. It is so much nicer than what I have been driving. I feel very blessed. I told my husband that as I drive in my new car and check email when I get to my destination I feel like a new woman!

It is amazing how something as simple as a phone that works and a car that is reliable and has great gas mileage can make your business life so much better.

I feel like a new woman!

Sue Riley, GRI (RE/MAX) — Tue, 18 Mar 2008 22:16:58 -0500

I have had 2 major frustrations in my business recently.

It is amazing how something as simple as a phone that works and a car that is reliable and has great gas mileage can make your business life so much better.

Vacant home vandalised

Sue Riley, GRI (RE/MAX) — Mon, 07 Jan 2008 19:51:55 -0600

I have a listing that is on a nice piece of property in the country.

I went to check on it recently to find, to my horror, that someone had stolen the A/C unit. All that was left was the condenser which was bolted to the plate. It is a manufactured home and they had pulled off the siding and got underneath the house.

It has now been discovered that they also broke open the back door and took wiring out of the fuse box.

I feel so bad for the owners. I could not believe that this has happened. Apparently there is a market for copper.

The A/C repair tech told me that they probably got about $80 for the copper that was stolen. I am amazed that someone would do so much damage for such a small return.

Education is important, get involved

Sue Riley, GRI (RE/MAX) — Tue, 28 Aug 2007 17:02:08 -0500

I love living in a small town. There are about 3000 people within the city limits. Lots of homes outside the city with acreage at great prices.

The people are friendly and there is great community spirit ( especially on Friday nights in the fall!)

We have one elementary school, an Intermediate school, Middle school and High School.

There are a great group of teachers many of whom live in Van Alstyne, go to Church here, shop at the small grocery shop.

I have a child in the Middle School and one in the High school.

I have served on the PTA board for the last 2 years at the middle school, this year I am secretary of the Education Boosters at the High School.

Last year I was the volunteer coordinator.

It was sometimes difficult to find people to help and it was often the same parents that were there.

This is because many parents have full work schedules and it is difficult to get off work.

As a Realtor I am feel blessed that I can take time out of my day to help at the school, I can work out my own schedule.

My challenge to you is get involved with your community. Find your passion and volunteer some time to help others.

If you cannot think of anything talk to your local PTA or booster clubs, I know they will be able to use your help somewhere.

Education is Important!!

Be involved in your community

Where have all the buyers gone?

Sue Riley, GRI (RE/MAX) — Tue, 28 Aug 2007 16:48:24 -0500

It seems I am being inundated with e-fliers for the best deal in town both on new and pre-owned homes. Price reductions, buyer and Realtor incentives abound. So where are the buyers?

Yes, I have read the news, there is a "slowdown", the "bubble has burst", there is "trouble in the mortgage industry"

I live and sell in North Texas, there was no bubble and so it cannot burst, maybe this is the problem.

This is a great time to buy a house, providing you have reasonable credit and preferably a down-payment.

There is plenty of choice, prices and incentives are good.

How are you getting the message out and putting qualified buyers in your car?

Know someone who wants to move to North Texas? Call me I can find them the perfect home.

Another good reason that you need a Realtor

Sue Riley, GRI (RE/MAX) — Tue, 10 Jul 2007 14:13:11 -0500

As Realtors we perform a lot of tasks to ensure our clients interests are protected.

I was talking to a lady this week who had a bad experience.

She was thinking of selling her house and mentioned this to a co-worker.

He expressed an interest in the property and they agreed a price. There were no Realtors involved.

He then told the seller that the loan company that he was using would not loan less than a certain amount which was $15,000 above what they had agreed on. His suggestion was that they write the contract for the sales price plus $15,000 then the seller could refund the buyer the money after closing.

This was agreed to but the seller was thinking that something was not right. She would hear others talk about borrowing less than the buyer had said was allowed and so on. Things dragged on for about 4 months.

The sale was to go ahead and the seller made preparations to move out. Then the buyer said that he could not get the financing and pulled out.

I told the home owner that this would not have happened had she used an agent and that what the buyer was trying to do was fraud and illegal.

How would this had been different if a Realtor was involved?

1. Approval of loan would have been established before the offer was accepted.

2. The potential fraud would have probably not been suggested but if it had would have been stopped immediately.

3. The Realtor would have kept up with the buyer and the loan process and would not have let it continue dragging on for 4 months.

There are many people trying to save money and sell their homes themselves but this is not a wise decision and you can get into difficulties when you are not represented a professional

The Importance of a good CMA

Sue Riley, GRI (RE/MAX) — Fri, 22 Jun 2007 20:37:23 -0500

I attended a class at my office yesterday on CMA's. I have been to a couple of different classes on this subject but felt that a reminder would not hurt.

It was taught by a very experienced agent who is also a licensed appraiser.

I was reminded about the importance of the CMA when both listing a property and helping a buyer decide on what price to offer.

Some of the things shared were what is a CMA not. It is not the average price per square foot for the neighborhood. It is not the tax appraisal amount. It is the value that you calculate based on all the plus and minus features of the subject property compared to other similar properties that have sold in the area.

She shared a scenario where a buyer's agent brought a low offer. Using her CMA evidence she was able(with the clients permission) to share why the counter offer was fair and to get the contract agreed.

If you do not know how to do a full CMA I suggest you talk to your broker or mentor and ask for training.

This is a skill that can benefit all your clients, buyers and sellers.

Sue

Inspection too thorough?

Sue Riley, GRI (RE/MAX) — Sat, 26 May 2007 14:42:30 -0500

I was browsing through the local paper homes section when I came upon an article entitled "Hiring an inspector is critical step"

Great, I thought they are helping to educate people that the money spent on an inspection is important and worth it.

For the most part that is what the article said. I was, however horrified to read this sentence:

"If you ask your real estate agent for a referral, be careful. If they really want to make a sale, they may recommend someone who is not so thorough"

Why do we have such a bad reputation? I would never do this. My clients' interests are always at the forefront of my mind. I have had sales fall through because of an inspection and I have been glad to see the buyers walk away as I knew that the house had more problems than they needed to deal with, I was happy to find them another house to buy.

So, do you think that there are agents that work this way? Maybe some of the inspectors out there can give their perspective.

Open Houses. Do they work in your market?

Sue Riley, GRI (RE/MAX) — Fri, 25 May 2007 21:02:43 -0500

It seems that when I do a listing presentation many sellers ask if I will hold open houses. I tell them that I will but I am honest with them when I tell them that it is rare for a house to sell because of an open house.

I think lot of people watch HGTV where there are many shows that seem to put great store in open houses.

In this market they are rarely effective as far as selling the house is concerned, visitors are rare and so there are not many buyers to turn into future clients.

One of the problems is that some cities or subdivisions do not allow signs to be put out on the street which makes it difficult to advertise.

So, my question is, are open houses effective in your market?

What do you do to make your open house stand out ?

Do you have incentives to get people to come into the house?

Where do you advertise?

I would love to hear from agents from other parts of the country as well as those in North Texas.

Introduction

Sue Riley, GRI (RE/MAX) — Sat, 20 Jan 2007 21:10:01 -0600

This is my first attempt at blogging. I have been reading lots of interesting posts and decided it was time to jump in.

This is my second year in real estate and I am having a great time. I have met some interesting people who have become my clients and who I now consider friends. It is a great honor to me to be able to work with people to buy or sell a home. I try to do the very best for my clients all the way through the process. I have learned a lot about real estate and about myself. I still have much to learn.

I was a stay at home mom for many years and so this was my first attempt to get back into the job market. I have great support from my husband and family and I could not do this without them. I am proud to be a positive role model to my teenage daughter as a working mom.

As a new Realtor I did not realise that I would have to work so hard at marketing and lead generation. I don't know where I thought the clients were going to come from, I guess I did not think! I am always trying to find new ideas and ways to reach people and tell them about my services. I did not realise how important or time consuming this is.

I would be interested to know what you were surprised by when you first became a Realtor.

Perhaps we can re-write the book "Things I wish my broker had told me"