Verity 's Blog

Buyers Market - How are YOU selling differently?

Verity Mora (Century 21 Complete) — Fri, 03 Aug 2007 17:23:46 -0500

Don't get me wrong, I like listings.. and as they say, "listers are lasters", but right now, I LOVE BUYERS! At least that is how I am staying busy and I am not being picky either. Actually, my favorite are first time home buyers in this market. Granted, home prices in Vancovuer WA rose by about 30% from 2002 to 2005, but out little ol' town has gotten used to our bustier price range, and have settled into comfort with it. In fact I think that the sellers are holding on to those prices like Linus holds his blanket, hence they are STILL listing high. Either that, or their trusty Real Estate Agent isn't "telling em' like it is" as I joke with my listing clients. They are AWARE that their homes are overpriced,a nd they are aware that they will be accepting a MUCH lower offer than it advertises, but I still can't convince them to reduce their prices significantly enough to entice more shoppers! It is almost as if 'I say it out loud, then everything changes' mentality.

SO - buyers - here is what I am doing! Lets look above yoiur price range! How BOUT THAT! I'd say 10-20% (depending on what we're talking about) ABOVE your price range! HOW BOUT THAT!!! Cuz guess what? That house - yeah, the one listed for 700,000? It can and will close closer to 625. Why?? Lets go do that market analysis - I'll show ya! YUP! Just as I thought - that home is listed at 235 a square foot. MMM HMMM.... you see what I see... all the homes that are selling that are comparable to this one are selling for 30$ less a square foot. Do the math. There is no harm in offering, and with a little love letter attached to the offer... Dear Mr. and Mrs seller - I love your home, however my offer is coming is this low because 10 of your neighbors with the same home and same size lot have sold in the last 6 months for this much less than your asking. ...

Think it will work? It does. AND you can't forget that the almighty appraiser is going to see the same homes you ran YOUR comparables with. (hmmm.. lsiting gents... are we asking our sellers for independent appraisals to find out where they should start listing as opposed to having them get angry and hurt when you tell them professionally that they aren't going to sell their house at the price they are thinking?)

Anyway, my point to this whole blog is this... until sellers realize what has happened in our market and either hold on to their homes if they can or reduce their prices - buyers have the upper hand and can look a little above what they think they can. It is by far my favorite thing to say - I can help you get this home what YOU can afford. Let me how you how, and let's do it. Buyers LOVE IT!

Well... until prices start coming down... then my whole theory gets all blown up!

Mobile Homes - In Park - Financing Options - HELP!!!???

Verity Mora (Century 21 Complete) — Fri, 03 Aug 2007 16:50:16 -0500

How is it that people can buy and sell in park mobile homes these days? With lending institutions becoming more and more stringent, how do I find a low income family with mediocre credit a lender that will finance a mobile home? Who else would be my targeted clients? Renters?

Ok lenders... seriously! I have a 1868 sq ft mobile home. It is 4 bedrooms and 2.5 baths, huge kitchen and living room and is in pretty decent shape. A poor little old lady HAS to sell it by order of the court to satisfy a bad debt and the order has stipulations regarding what we have to market it at. So first, this mobile home is a steal - it comped out at 9000 more than what we listed it for, and second - we have to sell it fast!

Should I team up with a lender on this one to find a buyer? What type of lender am I looking for? I am new to this whole mobile home thing and I have spoken with 2 lenders I use in stick built or land transactions and neither want to get their hands dirty. How do I sell it??

Help!!

Semi Savvy - But it's not enough. Questions Regarding Outlook

Verity Mora (Century 21 Complete) — Mon, 30 Jul 2007 11:50:08 -0500

Hi guys... I hope all are have a wonderful Monday!

I have a question and I am hoping you AR techies can help.

I have Microsoft Windows 2007 and I have the small business package for 2007 as well including Outlook. I agree, it is a wonderful program for calendars and managing contacts, emails and tasks, but I have NEVER had the problems I am having now.

THe PROGRAM IS SOOOOOO SLLLOOOOOWWWW! I can type a whole paragraph before it catches up, then the cursor dissappears and doesn't come back for over a minute sometimes. The calendar has the same delay. The whole program is constantly shutting down, timing out, and generally just acting crappy.

I have a very nice lap Inspiron lap top and it has plenty of memory and Gh and all that techie stuff, my base score is a 3.7 which is pretty good and since I am not networked with any other systems, I shouldn't have any problems at all.

Does any one have any suggestions???

How To Choose an Agent - Make Your Experience a GREAT One!

Verity Mora (Century 21 Complete) — Sun, 29 Jul 2007 20:14:59 -0500

I recently acquired a new set of buyers who came in through my website. Once we were seated and discussing our possibilities, they asked me how they choose a lender. I said, how do you choose your friends? Fact is that lenders have different variations of different products, but their final goal is to help you. Real Estate Agents are no different! And this is what I am getting at.

If you are a prospective buyer keep just a few questions in mind at all times when it comes to choosing an agent:

Do I feel comfortable talking to this person? This is SO important!!! It doesn't matter if you are using a million, trillion, dollar "star agent" or someone who just began a month ago. You will end up talking about financial issues, future goals, your kids and your life eventually. If you don't feel comfortable asking your agent questions regarding properties, or you feel intimidated by your agent, you probably chose the agent for the wrong reasons!
Does this person practice what they preach? Is the agent really representing your best interests, or theirs? If you are someone who searched on line for homes (which you probably are if you are reading this) you are more than likely providing the homes that you want to tour FOR your agent. This is OK, but make sure you stick to your guns in seeing all of the houses that interest you. Also, what is the level of service they give to you up front? Do they answer their cell phones on the weekends or evenings? Will they attend your inspection and signing?
Would you recommend this person to your best friend in the world? If you would do that, then you have found yourself a winner!

The bottom line is that it is your choice. We as agents are going to pursue you as buyers and sellers. That is our job! But you don't have to choose us, you don't have feel pressured into choosing us. This is your life, your decision and your financial future! In the end you will have found a friend and someone you know you can always call without hesitation with questions or comments.

To Sign or Not to Sign... The Next Chapter!

Verity Mora (Century 21 Complete) — Sun, 29 Jul 2007 12:22:38 -0500

So, after all of the wonderful comments regarding buyer agreements, I decided to take action. I sent an email to the legal department of CCAR and they responded promptly with "procuring cause" definitions. Ok, so it was good to brush up a bit, but I didn't know that the buyers could simply go to the listing agent and tell him/her that they weren't comfortable working with me. What a crock!

My manager happened to see the fax response come in from the CCAR and he decided to help me out as well. He called the listing office and spoke with the broker whom he has known for umpteen years (probably since before Vancouver was incorporated... ha ha Robin... that's an OLD joke!) Turns out, another set of buyers came in as well on the home and they out bid the ones that double crossed me!! Yahoo!!! Justice was SERVED!

The Rewarding Side of Real Estate - And I don't mean the paychecks!

Verity Mora (Century 21 Complete) — Sat, 28 Jul 2007 23:17:48 -0500

I don't know why most of you decided to be Real Estate Agents, but I sure know why I chose it.

Well.... so it has changed from the day I started studying to today, but I DO know... really! I thought that it would be great because I wasn't going to be working 8-5 like most other hum drum jobs. I was already not working by choice, but DANG was I BORED! My son is really important to me and I wanted to be able to drop him off and pick him up from school. I wanted to be able to water the garden and clean the kitchen without feeling like I was behind the 8 ball all of the time. Ok, now honestly - I would just assume NOT clean the kitchen, but a woman's work is never done. But really, I MISSED my income! Why did I give up 60k? Oh yeah, pick the kid up, clean the kitchen... now I remember.

So, REAL ESTATE!! Heck YES! Perfect! Low stress, lots of money, great people, and I can shop guilt free on my own income!

Is EVERYONE laughing at me yet????

Aside from what I thought.. Hhhem Hhhem... none of it true (except the "great people" thing) I have had the time of my life. So, I still don't want to clean, but I DO have the time if I want - it's just NOT when I expect it! So weekends are old news, but I can hit the golf course any day of the week. So picking up my son is going to be hard to manage at times (why am I busier with work when I have more going on in my personal life... like why do buyers call to shop the DAY you are leaving for a weekend???) but overall I feel more ACTIVE in this career. I am learning new things every day, and bottom line - I am helping people. That is the most gratifying feeling I never expected to feel. Literally, when I am going to be "finished" with a client, I swear I feel like I am losing a friend!

Is it like that for everyone else? What is the most gratifying part for other AR members?

Do mailings ACTUALLY work?

Verity Mora (Century 21 Complete) — Sat, 21 Jul 2007 17:33:42 -0500

How many agents are taught to "farm" neighborhoods? How many times has anyone actually gotten a call from the mailings? If I am missing the main ingredient to mail advertising, what would it be? From tips to sellers to advertising "sold" listings and catchy web sites that allows a specific neighborhood to check out what is going on in their specific market, I have had no response. Maybe I am doing it wrong, or maybe it just isn't worth it anymore.

What works best in your opinions, and is it worth it?

To Sign or Not to Sign...That is the question

Verity Mora (Century 21 Complete) — Fri, 20 Jul 2007 23:42:36 -0500

Buyers Agreements... Thats my topic.

So... I had these clients, key word being HAD. I worked on them for MONTHS. They are investors looking to "flip" homes withing 12 months after renovating to a tune of about 20% of what the purchase price is, then selling it 20 to 30% above total investment. All within 12 months. 1 stinkin year. It may sound simple, but in todays market in Vancouver Wa, it's a large feat to say the least. Long story short, I find the PERFECT renovation home on a FULL acre for under 180,000, and in this area could easily be updated and flipped for 300. I take them to it. They love it. They call in their other investor partner - the one who does the work. He loves it. It is now 7:30 at night, I have been there for OVER 2.5 hours at the same house, and I am tired and would REALLY like to see my family. They all decide that they are going to talk to their lender first thing in the morning, and we will put an offer in by noon the following day.

Noon, the following day rolls around and I can't get in touch with any of them, 3 in all. I am programmed in their cell phones, I am tied into all their e-mails and practically their best friend after all these months. Next day, 3 messages later, nothing. But the darn house is pending. (Oh, Darn would NOT have been my word of choice) To this day I have not received a return call, an e-mail, or a simple "thanks for your time". But I did notice they closed just recently and used the listing agent instead.

Lesson Learned?? Buyers Agreement ALL THE WAY! I still haven't gotten all my current clients to sign them, only because I feel bonded somehow with them. Naive? Yes Probably. However all new clients are signing or nothing! I have now been burned and it still stings!

Are they standard in everyones practice? What is the best way to approach the subject? How would I get my current clients to sign them without offending them? Advice is soooo welcomed!

Gorgeous Hockinson Listing

Verity Mora (Century 21 Complete) — Thu, 19 Jul 2007 23:01:24 -0500

Gorgous Hockinson Home located in the desired Sunny Hills Estates Neighborhood. This is a 3 bedroom, 2.5, bath with a bonus room that can be converted easily. The master bedroom is spacious and bright with an elegant bathroom that would be fit for a queen. The yard id fully landscaped with various fruit trees lining the back. It is a 5 minute walk to the famous Hockinson Elementary school. These schools are top rated!

Common area with a playground. HOA's are $150.00 a year! Nope, not a typo. You won't be dissapointed.

2412 Sq ft to live in, and 1 acre to play on!!

Contact Verity Mora, 360-601-9749 for information or showings.

$570,000

Vancouver Listing

Verity Mora (Century 21 Complete) — Thu, 19 Jul 2007 22:51:56 -0500

Cute, well kept home in Autumn Walk neighborhood. This home has been taken care of and loved righ down to the miniature fountain in their quaint front yard. These sellers are motivated and would love it if you stopped by to take a look.

New Union School!

$264,000, 2056 sq ft, 3 bed, 2 bath, loft, and upgrades everywhere!!!

Call Verity Mora, 360-601-9749 for details and showings.

Ethical Recruiting - When is it UNethical?

Verity Mora (Century 21 Complete) — Thu, 19 Jul 2007 21:23:17 -0500

Recently I have been duped by someone I thought was trying to gain some insight into the profession they just joined. This person was not considered a friend, but a very friendly acquaintance whom my husband has a working relationship with. She and I got together for lunch, and spent time going over our experiences as new real Estate agents. In the following weeks I would receive a call from her every other day trying to recruit me to her office. I was very friendly in my refusal as I really LOVE my office atmosphere, but she persisted. I finally had to break down and say NO! and Please STOP! Two weeks later, her BROKER calls and tries to finish the job this new agent couldn't. OK. So I realize that some companies are different than others and they use a "team system", and I also realize that the more agents that are in an office, the more money the office is going to make. But when does it become UNethical? If I felt uncomfortable enough to outright LIE to the broker just to get him to be quiet (which is NOT me! My NAME literally MEANS TRUTH!) then shuoldn't the broker know he has gone too far? When does it become a question of invasion? I am pretty rocked by this, first because I totally misread my acquaintance, but second, because the broker tried to tell m my company wasn't that good! Where is the line?

Introductions and questions!!!

Verity Mora (Century 21 Complete) — Mon, 16 Apr 2007 17:18:11 -0500

Hello,

My name is Verity Mora. I am new to the Active Rain Community and I have a few questions. First, what is the largest benefit to this site in your opinions? Secondly, does the time spent on the site payoff in advice and knowledge? What do points do?

It may sound silly to ask these questions, but I have found that there are many time suckers out there to weed through before you hit jackpot with an information giver. I'm sure many of you understand!!

Verity

New to Active Rain, and so excited!

Verity Mora (Century 21 Complete) — Mon, 16 Apr 2007 16:50:35 -0500

Hello,

My name is Verity Mora and I was invited to active rain by a colleague in my office who is also new to the real estate community. I am excited to to be here and... THANKS YVONNE! I am on the internet constantly via my own website and some other web based prospecting plans, however, I have found most to be ineffective so far. What are my options to get out there and market on the net without paying a thousand dollars a month to start?

Any ideas would be welcomed and appreciated.

Thanks in advance!!!

Verity Mora