listing agent: She Works Hard for the Money Part 15 - 09/21/24 08:22 AM
As the seller(s) and buyer(s) have signed all the real estate documents, Title has sent the deeds for recording, the professional real estate listing agent, at least in AZ, is not finished.
First, she or he must exchange keys or access code with the buyer’s agent. Sometimes this is happens within minutes after close of escrow other times is may take a couple of hours. The listing agent and the buyer’s agent have already scheduled when, where and how this exchange will take place.
TIME: 1 Hour
Next, the professional real estate agent must updated the local MLS with the details of this transaction … (7 comments)

listing agent: She Works Hard for the Money Part 14 - 09/20/24 08:04 AM
Many consumers do not realize that professional real estate agents in their roles as listing agents have a role of "Monitor."  Once the accepted offer to purchase contract is received by all parties, the monitoring begins with the buyer’s agent historically sending the accepted offer to purchase contract to Title. When lawyers are involved this process is probably different.
As an aside in AZ, we as licensed professional real estate agents have the AZ Constitutional hence statutory authority to write real estate contracts.  Attorney involvement is also recommended to both parties; however most sellers and buyers rarely bring attorneys into the transaction … (7 comments)

listing agent: She Works Hard for the Money Part 13 - 09/19/24 07:50 AM
The residential open house was a success.  Suddenly the listing agent receive three (3) offers to purchase the home.  First, the listing agent responds to each of the buyer’s agents and acknowledges receipt of the offer via email and text.
Next the professional real estate agent will carefully review the terms and conditions of  each offer, make any necessary notes and most likely put together a comparison document for the sellers for an easier review.  Often the listing agent may have to call the buyer’s agent for clarification about the loan pre-qualification document, etc.
This compare the terms and conditions such as:
Offer … (3 comments)

listing agent: She Works Hard for the Money Part 12 - 09/17/24 10:45 AM
The listing is now active on the MLS which has fed the listing to various other real estate websites.  Also the agent has placed signage for the residential listing and possibly for the vacant land listing.
Time:  1 to 2 hours depending upon location and number of signs. Again travel time is not included nor the cost of the signage.
Now the waiting begins.  Communication from calls, emails and texts start arriving. These contacts may want additional information or may wish to schedule a showing appointment depending upon what the sellers have agreed to within the listing agreement. During this time, the listing … (6 comments)

listing agent: She Works Hard for the Money Part 11 - 09/15/24 11:20 AM
The Residential Listing Presentation is a SUCCESS, but not so fast.  Now the real work or even more potentially uncompensated work for the agent begins.  As each listing is different and unique along with each MLS and marketing efforts by each professional real estate agent, some of the following action steps may have already been undertaken.
The professional real estate agent returns back to her office and writes up the Listing Agreement (presumes the actual listing agreement was not signed in person) along with any additional addenda such as HOA, Septic, Well, etc.  Next the agent sends the employment listing agreement (aka … (5 comments)

listing agent: She Works Hard for the Money Part 08 - 09/09/24 02:33 PM
The buyer’s agent receives a call that the deed has been recorded.  Now it is time to exchange the keys with the new and very excited owners. This may require picking up the keys from the Listing Agent and then delivering the keys to the new owners.  At this time the real estate agent may give a gift to the new owners. In AZ, the monetary value of that gift is $25.00
TIME INVESTED: 1-2 Hours
Later that day, the buyer’s agent finally receives notice her or his compensation is ready. Depending upon the compensation instructions and if the title firm is local, … (10 comments)

listing agent: She Works Hard for the Money Part 07 - 09/09/24 01:14 PM
Close of Escrow (COE) is looming. Usually anywhere from 3-10 days before Close of Escrow if not earlier, the buyer’s agent has received the compensation instructions. These must be reviewed and completed.  Then the compensation instructions must be sent to the buyer’s agent designated broker for her or his signature. NOTE: The time varies as Title must balance with all monies received including confirmation from the lender the final dollars for the loan.
Also at this time, the buyer’s agent will contact the Title company to confirm all is good to go. Sometimes, if there is a loan involved, there may be … (7 comments)

listing agent: She Works Hard for the Money Part 04 - 09/05/24 08:47 AM
The buyers have found the “perfect home” or “vacant land” for that forever home.  They indicate they want to make an offer to purchase real estate.
If the buyers agents have not already researched comparable homes, active, pending, sold, time is now devoted to this undertaking of Comparative Market Analysis (CMA) which may take one hour or more depending upon the uniqueness of the home.  Given many homes are financed, professional real estate agents will confirm a loan is acceptable to the sellers and specifically what type of loan. Additionally, if closing costs for the buyers have not been calculated, this activity … (9 comments)

listing agent: Hiring a Vacant Land Listing Agent Who Protects and Promotes Part 2 - 05/10/24 08:49 AM
A picture is worth a thousands words. With vacant land, photos of the property can be worth thousands of dollars.
When viewing vacant land listings on the various Multiple Listing Services (MLS) or websites such as Land.com, REALTOR.com, Zillow.com, etc., a potential vacant land buyer often sees only one or two photos of county maps.  Possibly, there may be just one photo of the actual property.
Local professional real estate agents in their efforts to protect and promote their sellers will take multiple photos.  For example, I attempt to take photos of at least two of the property corners (markers) and numerous photos … (4 comments)

listing agent: Tuesday Thoughts – Are You Being Replaced? - 01/30/24 05:45 AM
During my routine reading morning catch up, I read an article from Inman in which Glennda Baker known as a real estate influencer (unknown to me) made this statement at the Inman Connect New York event:
“AI is an amazing tool but what it isn’t is a substitute for you.”  
Baker then went out to discuss the creation of an avatar which suggest you as the real estate agent or as the individual are “replaceable.” And further this comment was made:
“The minute you put somebody else in communication with your clients, you are replaceable.”
As I pondered her comments, my own thought returned … (11 comments)

listing agent: Four Reasons Why Quality of MLS Listings Are Essential- Part One - 01/02/24 07:40 AM
Buyers, Sellers, Listing Agents or Buyer’s Agents use the local MLS websites to protect and promote their clients as well as to undertake residential to vacant land market research. Unfortunately, the quality of many MLS listings is missing. And that lack of quality potentially harms the public not to mention the sellers who want their properties sold.
As an aside, the MLS is the main source for the majority of residential, vacant land and rural ranches.  Each MLS feeds its information into what is identified as an IDX feed. This feed goes to various sites such as Zillow, Realtor.com, etc. The IDX … (7 comments)

listing agent: How MLS Directions Reveal The Competency of Real Estate Agents - 12/26/23 07:46 AM
As a licensed real estate agent, I regularly read the MLS listings for my potential clients.  In undertaking this due diligence research, I have gathered quite a bit of information about other real estate agents and their competency or lack thereof. Let me explain.
Knowing Rural Mohave County
Given Mohave County is the fifth largest county in the 48 contiguous states, specific directions for any rural area are an absolute necessity.  For example, here in Golden Valley, AZ the State of AZ decided to construct a concrete median barrier on Highway 68 which connects Kingman, AZ to Bullhead City, AZ. This median has … (11 comments)

listing agent: The Journey Ends for This Long and Winding Road - 12/21/23 05:41 AM
In the fall of 2023, I had the opportunity to list 10 relatively inexpensive vacant land parcels here in Mohave County. These properties fell under a court order and had to be court approved sales. Also these vacant land parcels were located in 4 different areas:
One was 90 minutes away Another 60 minutes Two each about 30 minutes in different directions Going through this court approve sales process was quite unusual.  As a buyer’s agent, I had been involved in two court approved sales here in Mohave County, but never with Maricopa County. And what a difference between the two … (6 comments)

listing agent: Let Us Be Forthcoming as to Whom Creates Value - 12/18/23 08:26 AM
Much is written about how real estate agents or salespeople in other industries must create value through value propositions.
Unfortunately, this is 100% untrue as value is created by the buyer not the seller.
THE CLIENT CREATES VALUE!
THE REAL ESTATE AGENT CONNECTS TO THE CLIENT'S VALUE DRIVERS
For example, in real estate, one buyer may wish to communicate on a daily basis. His or her value driver is constant communication.  Another buyer may only wish to receive communication when absolutely necessary.
How about local real estate knowledge?  One seller doesn’t really care about the knowledge of the real estate listing agent. His or her value … (4 comments)

listing agent: The Hidden Reward of It’s a Small, Small World - 12/16/23 08:15 AM
How often do we receive real estate listing leads where the seller has indicated he or she has attempted to sell the property using Craig’s List, For Sale by Owner or a discount brokerage firm? The seller shares he or she has been unsuccessful.
You as the listing agent look up the information. Possibly your standard of practice is to run comparables; visit each property; take photographs; confirm presence of utilities; and often here in Golden Valley, AZ or the other areas in Mohave County, AZ such as Chloride, AZ, Dolan Springs, AZ, White Hills AZ, Yucca, AZ and even areas to … (6 comments)

listing agent: Removing Sales Obstacles Are the Listing Agent's Due Diligence - 11/30/23 08:41 AM
Often real estate listing agents fail to undertake their due diligence. In real estate, due diligence is often synonymous with sales obstacles. 
For clarity, a sales obstacle is an external factor (think a dam) that keeps the sale from happening unless addressed. The goal for any salesperson AKA as listing agent is to remove as many sales obstacles or dams as possible.
With the removal of as many external factors from preventing the sale,  the listing agent and just as important the buyer’s agent must focus on the internal sales objections by the buyer such as “need to talk to the wife,” “unsure … (5 comments)

listing agent: Want to Increase Sales? Go Beyond Two Photographs - 07/18/20 10:01 AM
Believe it or not, would you list a home for $350,000 in a very stable neighborhood (homes are held for 15-20 plus years) and the market the home in the MLS showing only two (2) photographs of the front and side elevation? Oh, and by the way the property is vacant and the only one currently for sale in this neighborhood.
 
Marketing in all industries including real estate is about attracting attention and beginning to build a relationship. Displaying only two (2) pictures may indicate the following:
 
The house is a terrible mess inside The listing agent/brokerage firm is lazy or doesn’t … (2 comments)