buyer representation: Buyers: Getting on the Same Page is the First Step
- 02/04/19 05:15 PM
When I first meet with a homebuyer, whether they have purchased a home previously or if they are first time buyers, I give all prospective buyers their own wants and needs survey. It is important that they complete these independently for a couple of reasons.
1. You may not realize how important something is to the other person. For example, I helped a young couple last summer in their home search. They had been married for about 2 years and when completing their surveys, the wife indicated a must have of a formal dining room. The husband had no idea that this … (0 comments)
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buyer representation: Which Should You Do First - Buy or Sell?
- 01/30/19 09:52 AM
Sandra makes some great points about the pros and cons of buying or selling first! In some markets, sellers will not consider contingent offers especially when there are lots of buyers out looking and the listing has not been on the market for very long. What is best for your situation is not the same as someone else, so it is best to look at all of the options and align your needs with your local market. Downsizing in our area can be particularly difficult especially when that price point is full of first time buyers that are currently renting and … (2 comments)
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buyer representation: Is it Better to Have Loved and Lost? Maybe not in Real Estate...
- 01/29/19 06:56 PM
Is it better to have loved and lost than to have never loved at all? Maybe in some cases, but not in real estate. The one that got away can be a determining factor as to whether a buyer continues to work with an agent. I received this question over the weekend.
Karen, we had written an offer on a home that we loved with a previous agent and we were competing for the house. We didn't win. Our agent wasn't the same after that. It became more difficult to get her to show us houses that came on the market because … (0 comments)
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buyer representation: Sellers: Should You Cancel a Showing Because of the Weather?
- 01/23/19 06:56 PM
In the past week, we have received over 12 inches of snow in our part of Iowa. And this is normal for our winter months. Especially now that with the snow cover, the temperatures are in the teens and with the wind chill, well below zero. I was showing homes on Monday to a relocation buyer, which was a holiday for many people. It was cold. And the houses that we wanted to see were all vacant except for one. Because the last one was occupied, I had tried several times on Sunday to schedule a time to see it before … (4 comments)
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buyer representation: Buyer Beware: Do You Really Want to Represent Yourself?
- 01/14/19 07:22 PM
Over the weekend, another agent in my office had posted a scenario that sounded all too familiar. The buyers had looked at several homes with the agent, including one that was for sale by owner. The buyers then went back to an open house at the FSBO, this time without their agent, and the for sale by owner convinced the buyers to dump their agent. The seller stated that the buyers could use their attorney and save $8000... Since the buyers really liked the house and it was listed at the top of their budget, they decided to write an offer … (2 comments)
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buyer representation: Buyers: Have You Met with a Lender Yet?
- 01/06/19 06:47 PM
During my open house this weekend, I had the opportunity to talk with over 10 different buyers. Out of those buyers, less than half of them have been to a lender to obtain a pre-approval letter. I was shocked. As I talked with the buyers that had not met with a lender, I asked how they had determined which houses that they had on their list to go through. I explained to them the importance of meeting with a lender sooner than later. Especially since there were so many interested buyers in the house, they were at a great disadvantage in … (5 comments)
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buyer representation: Buyer Tip: Do you Know How Your Agent Works?
- 10/22/18 04:05 PM
When you are looking to purchase a home, you may meet dozens of agents whether through stopping into open houses or a referral from a friend or co-worker. Keep in mind, you will want to interview several agents before you choose one to represent you. This is a huge investment. And just because the agent was a great fit for your sister or friend, they might not be for you!
How do you like to communicate? Can you answer the phone during the day or when you are at work? Do you prefer email or text durimg your work hours? When are … (3 comments)
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buyer representation: Is the Listing Agent the Best One to Show the House?
- 09/08/18 09:07 PM
It is not the first time that I have thought about this. I am not in the practice of performing dual agency, even though it is allowed in Iowa. In fact, I have sold over 200 homes in the last 15 years and I have only acted as a dual agent less than ten times!
Since I rarely host open houses on my own listings, I have been able to avoid putting myself in a dual agent position. For those of you that might not understand what a dual agent is and how it works.....here is your crash course!
A dual agent is … (4 comments)
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buyer representation: The Potential Buyers Talked to the Neighbors
- 02/11/18 03:15 PM
This happens quite a bit in my market. The buyers see a home that they like and they naturally want to know everything that they can about the neighborhood. This is definitely a buying signal!
Now for a real life example, Buyer comes through my listing with their agent. Based on the agent's perception and conversation with the buyers at the end of the showing, he completed the feedback requested by ShowingTime. His feedback was that the yard was a dealbreaker for them, but they really liked the house. Less than an hour later, my seller called me. They had talked to … (3 comments)
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buyer representation: Sellers Have 4 Choices When They Receive an Offer
- 04/05/17 01:29 PM
For the past few years, I have been counseling home buyers in Cedar Rapids/Iowa City Corridor like this: "When they offer on a home, the seller has 3 ways to respond":
1. They could accept the offer as written.
2. They could reject the offer.
3. They could counter back to the buyer to address the price or terms.
And should the seller counter offer back to you, as a buyer, you can accept, reject or counter again. But what happens when you don't get a response at all from the seller?
In today's fast-paced sellers' market, there is now a 4th option. The seller can … (2 comments)
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buyer representation: Does an Hour Matter When You're a Charlotte Homebuyer?
- 03/29/17 01:11 PM
Whether you are in Charlotte or in the Cedar Rapids/Iowa City Corridor, it IS a seller's market. And it is tough for buyers out there in certain neighborhoods and price points. Decisions need to be made quickly or other buyers will beat you to it!
This happened to my buyers yesterday. The house had come onto the market on Monday afternoon. We scheduled it for the next day, which was the first that they could both be there. An hour before our scheduled showing time, the agent called me to let me know that the seller had accepted an offer. I was … (0 comments)
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buyer representation: Buyer's Corner: Why Is that Listing Still Online if it is SOLD?
- 03/29/17 12:02 PM
Buyer's Corner: Why Is that Listing Still Online if it is SOLD?
"Hello, this Karen with Lepic-Kroeger. How can I help you?"
Buyer: "There is a home that I found online that I would like to see. It is at 123 Main Street."
"Okay. Let me look up that property....oh. It is under contract according to the MLS. Where did you see this home online?"
Buyer: "Zillow. I called another agent and they told me that it was sold too. But I don't understand why it is still showing that it is for sale."
As agents, we get these calls all the time. And I am … (2 comments)
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buyer representation: Show Me The Money!
- 03/20/17 07:46 AM
I have seen a few annoyed "would be" cash buyers stating they are OFFENDED that all these real estate agents just want to see their proof of funds. OFFENDED? Really?!?!? As though a stranger's word is enough to put them in the car and show them homes? Sorry, but no.
As a listing agent I would be OFFENDED if the buyers agent DIDN'T have proof of funds before they showed my sellers home. What a colossal waste of everyone's time.
Think about what needs to happen in order for a buyer to see a home on the market including the time that … (4 comments)
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buyer representation: When a Buyer Comes-a-Knockin', Tell Your Seller What to Do!
- 08/29/16 05:30 AM
When a Buyer Comes-a-Knockin', Tell Your Seller What to Do!
And I don't mean it in a bossy way...but if the sign goes in the yard and a buyer knocks on the door, does your seller know what to do?
My very first listing was a home that I sold for my aunt and uncle. It was the only listing I had that entire first year, mostly because I didn't seek out sellers. I LOVED buyers and thought that buyers were the easiest....
The sign went in the yard and that night, a buyer knocked on the door and wanted to see the house. … (4 comments)
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buyer representation: But I Didn't Bring the Checkbook!
- 08/25/16 04:18 AM
But I Didn't Bring the Checkbook!
It happens. I counsel my buyers to go to a lender, have their pre-approval letter ready, and bring the checkbook when they view homes. Why? Because if you find one that you like and you want to submit an offer, I need to have the earnest money check in my possession. Now, understand that the check stays with me until there is an accepted offer. And I will let a buyer know when I provide the check to the listing agent so that if they need to move money around in their account, they are aware.
There … (7 comments)
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buyer representation: It's a Pricing War and A Beauty Contest!
- 08/19/16 02:53 AM
It's a Pricing War and A Beauty Contest!
In 2008, I attended my first CRS Sellabration in Hawaii. It was an incredible experience, especially coming off of my best year in real estate and on track to have another incredible year. One of the most enlightening statements was that today's market is a pricing war and a beauty contest by the late Howard Brinton. It is still true today.
When I meet with a seller, I tell them this: Buyers will only pay the highest price for the prettiest property. Great photos will get them in the door, but the offer comes when … (2 comments)
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buyer representation: Buyers: Don't Let Me Sink Your Battleship!
- 07/18/16 02:13 AM
In the home buyer consultation, I talk to buyers about my role in our "partnership". My role is point out all the little stuff. The flaws in the house, the quality of the remodel, the location, the way that they want to live in the house, etc. I am the proverbial "mom" that is showing them all the negative things that they shouldn't overlook in the process of making a decision. If the house survives after they know the good, bad and ugly...I didn't sink it.
It is my job to read through the seller disclosure with you and look for warning … (7 comments)
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buyer representation: Sellers: Showings Can be Risky Business!
- 07/16/16 04:04 AM
Sellers: Showings Can be Risky Business!
As a listing agent, I have learned and stumbled along the way when it comes to discussing showing expectations with my sellers. What is a normal for me as a buyer's agent is not everyone's normal procedure, even in the same market.
Ultimately, the homeowner hired the listing broker to keep their home safe. The responsibility falls directly on the listing agent. So I let my sellers know ahead of time the following:
1. The buyer's agent may or may not leave a business card. (depending on the market)
2. All or some of the lights may be left … (2 comments)
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buyer representation: Buyers: Making Sense of the Home Inspection Reports
- 07/15/16 07:45 AM
Buyers: Making Sense of the Home Inspection Reports
The high of an accepted offer leads to inspection period. Depending on the age, type of financing, and conditions of the home, you may have 2-5 different inspections to schedule.
The first inspection is the whole house inspection. This one is the most important and usually requires the most time. It is also smart to check out several different inspectors including reading the reviews on their website or viewing their sample reports. This inspection is the most expensive, in most cases, and covers the entire house. It is a must have so that you have … (12 comments)
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buyer representation: Sellers: Do You Have "Buyer's Eyes"?
- 07/15/16 07:26 AM
Sellers: Do You Have "Buyer's Eyes"?
When I meet with a homeowner for the first time, we talk about the importance of "buyer's eyes", this is especially important if the homeowner has lived in their home for 10+ years. (The market has changed A LOT in that time frame.) The court of public opinion begins with the photographs of your home.
What is "buyer's eyes" you may ask? Buyer's eyes is looking at your home as a buyer would. How would your home compare with the other homes in the neighborhood, in the school district, or in the city that you live in? … (10 comments)
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When I first meet with a homebuyer, whether they have purchased a home previously or if they are first time buyers, I give all prospective buyers their own wants and needs survey. It is important that they complete these independently for a couple of reasons. 
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