(This is Part 1 of my Two Part Blog on Current Working Conditions for the South Florida Realtor.)
I know I can't be the only Realtor representing Buyers in Miami-Dade and Broward County experiencing the craziness of our current market. I've been working with Buyers looking for REO's and Short Sales from Miami Beach to Hollywood and I've got to be honest, it's not easy. What's not easy you might be asking yourself? Where shall I begin? Here are just a few of my pet peeves in the REO/Short Sale/Crazy Real Estate Market:
- Properties listed well BELOW market value in order to attract showings. I would never name names, you know who you are. Some Realtors list properties BELOW market value to attract attention, showings, etc. Well, you know what? It works. So, I show your property. My Buyer client loves it, decides to make a full price offer, I call you (sneaky listing agent) only to find out that the list price was a ploy. Not cute.
- Listing Agents Who Do NOT Include Proper Contact Information in their listings.This is extremely annoying to say the least. Believe it or not, but Buyers sometimes ask questions which can not be answered by the local MLS listing or Tax Records. It sure would be nice to have a contact number or valid email address included in the MLS listing. If you are busy enough to not want to be bothered by phone calls or emails, you're busy enough to hire a personal assistant or virtual assistant to field such annoying calls and emails.
- LISTINGS WITHOUT PHOTOS. Now I know I'm not the only one annoyed by this. This is a HUGE pet peeve. I don't care if the listing is a $900 rental or a $2 million dollar listing on South Beach, for God's sake, take a picture. Thank goodness my awesome association RAMB: Realtor Association of Greater Miami and the BeachesJUST implemented a policy of "at least one photo" per listing. Woo Hoo. . . There is hope!
- Short Sales Listed by Realtors who have NO CLUE about the Short Sale Process. Honestly, I believe because Short Sales are soooo new, there are very few Realtors out there who are "short sale" experts. I've done a LOT of reading, taken a few Miami-Dade and Broward Short Sale seminars, represented Buyers of Short Sales, and I am FAR from a Short Sale expert. YET: I am self-educated enough to know the questions to ask, I know the basic process, and it is VERY frustrating to speak to the listing agent of a Short Sale property to find out he/she has no idea what's going on. . . It's high time we all get educated on short sales. . . From South Beach to Hollywood, to Boca Raton, Short Sales are a South Florida Real Estate reality. . . If you are a Realtor wanting to learn more about the short sale process, PLEASE, I'm begging you, contact Joe Robert of Roberto & Associates and take one of his Short Sale classes: Info@RobertoAndAssociates.com
- REO/Asset Management Companies TAKING FOREVER TO RETURN DOCUMENTS and adding ridiculous addenda. I know I'm not alone in this one. Recent example: Cash Buyer submits As-Is Where-Is CASH offer/no contingencies what-so-ever. . . Cash Buyer ready to close 'yesterday'. Price negotiated verbally. Buyer and Seller agree on price. Seller takes FOREVER to get back with the signed original offer plus their (ridiculous) addenda. THEN Seller demands signed documents be returned with non-refundable deposit within 24 hours. Excuse me, but didn't they take 6 days to get back to us? What the heck? I am sooooo over this game.
All in all, it IS a GREAT time to buy Real Estate in Miami-Dade and Broward Counties. Prices have dropped to "affordable" levels. Interest rates are unbelieveably low. . . Now, as Realtors, it's up to us to get this market moving. . . In Part 2 you'll read about my suggestions on how we can make things happen as well as my shout outs to awesome Realtors I've had the pleasure of working with. So, Stay Tuned for Part 2!
Diana Tonova ~ Realtor Associate ~ Express Florida Realty, Inc. ~ (954) 815-8213
Your Miami-Dade and Broward County Real Estate Specialist ~ SouthFloridaHouseHunter.com
Comments(2)