representation: Ummel Case Follow-Up
- 04/19/08 04:20 PM
I got the chance to correspond with a reporter in San Diego who wrote an article this week about one of the juror's responses following the verdict in the Ummel vs. their Realtor (R) case. Like many of you, the reporter had not heard of Exclusive Buyer's Agents before we had our exchange. Shortly thereafter she posted this follow-up which included some of my comments: http://www.voiceofsandiego.org/survival/#blurb1 Here is a small portion of the round-up: Today I heard from Benjamin Clark, a real estate broker in Salt Lake City, who says he only represents buyers, never any sellers. And he's on the … (3 comments)
representation: Interpreting a Market Analysis
- 04/18/08 07:03 AM
A market analysis not only helps a Buyer understand what the market value of a home should be, but it can also be used to help determine which home (say, out of 3 excellent choices) is a better investment. Usually there is a discrepancy large enough to make a fair determination as to which home is probably the best priced. That doesn't mean that the home is the best fit for you or your family, but knowing which home is the better value can help a client see past some of the emotional attachments they may have toward a certain home. … (3 comments)
representation: Questions for Buyer's Agents - My Responses
- 04/18/08 06:10 AM
I don't know the specific origin of these questions, but Buyers ask them all the time. A wise homebuyer will ask these types of questions to any agent they interview. Here are my responses to Buyers when I am provided with these questions: Do you spend 100% of your time representing Buyers? YES Will you guarantee me that you will not be representing any seller at any time while you are working for me? YES Do you, or the company you are with, ever list properties for sale? NO Will you point out all the negative aspects of each property as … (2 comments)
representation: Ummel Case Juror Suggests "Buyers Agents Suck"
- 04/17/08 06:57 AM
OK. Those weren't her words. Read this article from The Voice of San Diego (author, Kelly Bennett) and comment if you like.Here are a few quotes from the juror: "After my seven days of realtor training (sitting in a court room), I may consider not using a realtor in my next purchase of property."and"I think selling with a realtor is very different than buying with a realtor. I probably would sell a house with a realtor because of the advertising, showing, and negotiations, etc." And the article's author states in the final line: "...buyer's agents are not the be-all, end-all in the … (21 comments)
The story makes a few interesting statements about Salt Lake's ecoonomy that I thought should be considered by anyone considering a move to the area, as well as by those of us who live, work, and own homes here. Here they are, paraphrased by me: 1."Salt Lake's growing economy was not housing reliant" 2. "Salt Lake has a 3% annual job growth rate" 3. "Salt Lake has declining home inventory" 4. "Salt Lake has one of … (10 comments)
representation: Utah Leads Nation in Price Appreciation (STILL!)
- 02/26/08 10:42 AM
The Office of Federal Housing Enterprise Oversight has issued the report we have all been waiting for... Utah still leads the nation in home-price appreciation! Of course, these reports are a little behind the times and I wouldn't expect anyone to believe that homes appreciated at 9.7% for January or February. I'm still sticking to a more modest 2-2.5% (Well below what was predicted!) (Images from OFHEO's report) I would suggest that part of the most recent drop in the appreciation rate in Utah is due to the fewer homes selling in the $600,000 + price range due to the increased difficulty and or … (4 comments)
representation: Get an Agent on your side when buying
- 02/23/08 03:55 PM
If you are thinking about buying a home in the Salt Lake area, make sure you get an agent on YOUR side. Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Areas. We do not list any homes. We never represent Sellers. We work for BUYERS ONLY on the Buyer's side of the transaction. We work to get BUYERS the Best Price and Terms when they Buy... We're "Real Estate Agents who Represent the Home Buyer" TM If you have excellent credit and are thinking about buying a $250,000-$500,000 home in the Salt Lake area in the next 30-60 days, call us … (0 comments)
representation: Re-Listing Homes - Can You Handle the Truth?
- 02/23/08 03:45 PM
The Practice of taking a home off the market and re-listing it to show 0 days on the market again is becoming more and more common. Debates are heating up on the subject from coast to coast. Listing Agents argue they are doing their client a service. They also argue that Buyers can't handle knowing the truth about how long a home has been listed because a home that has been on the market for a long time has an assumed problem or diminished value. The Public cries "foul" and says they are being deceived. Does the end justify the means? Would re-listing … (18 comments)
representation: "Old"Listings - What's Wrong With This Home?"
- 02/23/08 03:32 PM
Naturally, just like a Buyer, when I see homes on the market for 180, 240, 360 days or more, I also wonder "What is wrong with this home?" Often, with a little digging, we can find out if the home was under a contract that failed or if there is some other reasonable explanation for the lengthy time on the market. Other times, a market analysis confirms that the Seller is pricing their home outside of market value. What's wrong with that? Lots of Sellers price their homes above market value? True, lots of Sellers price their homes above market value, but most … (0 comments)
representation: To Buy Or Not To Buy? This is the Answer (Salt Lake City, Utah)
- 02/17/08 01:49 PM
Salt Lake Market in a Nutshell (February 15, 2008):Number of Homes Listed: UPNumber of Homes Sold: DOWNList Prices: DOWNSOLD Prices: UP To Buy or Not to Buy: BUY It's a Buyer's Market. What are you waiting for? If you are thinking about buying a home in the Salt Lake area, make sure you get an agent on YOUR side. Homebuyer Representation, Inc. is the only Real Estate Brokerage representing Buyers ONLY in Salt Lake City and the Surrounding Areas. We do not list any homes. We never represent Sellers. We work for BUYERS ONLY on the Buyer's side of the transaction. We work to get BUYERS the Best Price and Terms when … (3 comments)
representation: Salt Lake City, Utah Real Estate Market Update (Feb 2008)
- 02/17/08 01:47 PM
Salt Lake's Tribune released an article titled "Utah home sales plunge" on February 14th, 2008. It starts out by saying that Salt Lake is now caught "in the middle" of the national downturn. Is this true, or just an attention grabbing headline? If you read the entire article and not just the headline, you will find the truth buried in there somewhere. Let's analyze the statistics from the article itself: The report compared the home sales volume nationwide in the last quarter of 2007 with the same period in 2006. Remember: This has nothing to do with home prices, just the total number of homes that sold in … (0 comments)
representation: Some Things Aren't Learned In School - Like How To Buy A Home
- 02/13/08 09:02 AM
Some things just aren't taught in school. I have always believed that there are many things that, if taught in school, would make life easier and more successful for many of the next generation. "Utah lawmakers right now are considering a bill, sponsored by Sen. Patricia Jones, D-Holladay, that would set up an enhanced financial literacy program in the state's public schools. Kids would learn about basic budgeting, banking, investing, home buying and borrowing in ways that are integrated with their normal curriculum." (Jay Evensen, Deseret Morning News, February 10, 2008) One thing that should be taught young is this: Homebuyers have the … (3 comments)
representation: How Street View Helps Homebuyers in Salt Lake City!
- 02/13/08 05:08 AM
Salt Lake City is one of a handful of cities that has recently been added as a Google StreetView City! You are either really excited about this or really freaked out about it, but the bottom line is that this is good news for homebuyers. Listing agents tend to take pictures from angles that conveniently leave things out like huge power lines in front of the house, substations or water treatment facilities next door, or avoid showing you that the home is on one of the busiest roads in town. (Among countless other things) Now, from the convenience of your home or office, you can … (2 comments)
FINDING HOMES The Truth About "Buyer's Guides" How to Know About the Newest Homes on the Market Each Day "Staged" Homes in Utah - Things for Buyers to Consider Buying a Home (Smarter, not Harder)
YOUR RIGHT TO HAVE AN AGENT REPRESENTING YOU AND YOU ONLY Different Types of Agents - Say What? Exclusive Buyer's Agents mentioned in Kiplinger's Personal Finance Why you should always have an agent representing you in a real estate transaction - 1 example Understanding the Buyer-Broker Agreement Why is Signing a … (4 comments)
representation: Salt Lake's Smartest Homebuyers!
- 02/06/08 08:14 AM
What clients are saying about Homebuyer Representation, Inc. Utah's Exclusive Buyer Brokerage! "We wanted someone who would work with us and not be constrained or biased by their own listings or those from colleagues in their same office or group. Benjamin was extremely responsive and even did virtual walk-throughs with us via video on the web. With his help, we found the ideal home."Benjamin came up with a brilliant approach that gave us a real advantage in the negotiations. We closed at a price well below the original asking price. We are extremely pleased with the property. Thank you Benjamin!"-Vance Checketts Family, Provo, Utah "I … (0 comments)
representation: Exclusive Buyer's Agents Negotiate for the Home Buyer
- 02/02/08 03:43 PM
The most exciting part of being a true Buyer's Agent (and the most rewarding part) are the negotiations. Every transaction is unique, and there are many real estate agents who lack the level of negotiation skills required to truly get their clients the best deal. Having an agent who has training and experience in negotiation is especially important when the Seller or their agent are experienced negotiators. It is extremely gratifying and rewarding to pull off a big win in favor of my clients and hearing them say things like "We never would have had the guts to make that counteroffer. Thank … (2 comments)
representation: Does Your Agent Really Have YOUR Best Interest At Heart?
- 01/24/08 10:12 AM
Broker Bryant's post about agency struck a chord with me when it was pointed out to me by a fellow ActiveRainer (Thanks Fran!) (Here's the Link) My reply deserves its own post, so here it is: I agree 100% that there is absolutely NO advantage to either Seller OR Buyer in Dual Agency. It should be abolished and I still wonder why it has not been. I am surprised at how many Sellers sign away their right to full representation at the same moment they hire an agent to list their home. I am surprised at how many Buyers sign away their right to … (3 comments)
representation: Thank You for the Referrals!
- 01/12/08 03:53 PM
I want to thank all my family, friends and past clients who have referred family and friends to me. There is nothing better than helping a friend of a friend. As the Salt Lake real estate market slows back to its more normal rate, I would like your help in spreading the news that homebuyers can be represented by an agent who works on their side of the real estate transaction. Exclusive Buyer's Agents don't list properties or practice "dual agency." We work for the homebuyer only. Just as most other agents work to get the highest price and best terms … (0 comments)
representation: Sellers have a choice when it comes to Dual Agency
- 12/20/07 05:11 AM
I don't represent Sellers, so why am I writing about this? Almost all Buyers will someday be Sellers and almost all Sellers buy after they sell. My clients may as well understand that what is true on one side of a transaction usually has its parallel on the other. Just as Buyers often sign away rights and protections when entering a Buyer-Broker Agreement, Sellers are almost always asked to sign away their right to full representation when signing a Listing Agreement. Once again, Sellers, just like Buyers have a choice. The law often requires the disclosure of this choice, but it is usually not presented … (1 comments)
representation: Why you should always have an agent representing you in a real estate transaction - 1 example
- 12/19/07 05:05 PM
Suppose you find a home of interest and the Listing Agent tells you they will reduce the price of the home by 3% if you choose not to use the Buyer's Agent you have spoken to, but have not yet signed a written agreement with. What have you benefitted if you "save" 3%, but still end up over-paying for the home by 5%? Absolutely nothing. You have, in reality, lost. Listing Agents Represent the Seller. When you need to sell your home, hire one. When you need to Buy a home, hire a Buyer's Agent who will work solely on YOUR behalf. There … (6 comments)
I got the chance to correspond with a reporter in San Diego who wrote an article this week about one of the juror's responses following the verdict in the Ummel vs. their Realtor (R) case.
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