client protection: The Real Estate Alchemist... Part II
- 03/13/08 04:13 AM
Continuing the series...
In this episode, we are going to look at seller offered commission to the buyer's agent. At the Redfin Corporate Blog, there was a recent post titled Typical is Boring, but When Selling a Home, Effective.
In the post, they compared days on market and list price/selling price ratios for properties that were shown with buyer's agent commissions above, at and below 3%. The findings were this:
Homes offering a commission higher than 3% actually had a lower sale-to-list price than homes offering a 3% commission, by about 0.82%, or the equivalent of $4,095 on a $500,000 … (4 comments)
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client protection: Dear Mr. & Mrs. Unrealistic Buyer
- 02/28/08 04:12 AM
{Back in the day, I wrote a post called Dear Mr. & Mrs. Unrealistic Seller. It was my first feature, and still sits as my busiest post with over 1500 views and around a 100 comments. Ever since October, I've wanted to write the balancing post...}
I just wanted to drop you a quick note to let you know how excited I am about our upcoming home search, and recap the exciting events so far. This is great fun, and I'm sure will be worth every minute.
Let's talk about the introduction.
I'm so glad that you found me through that … (18 comments)
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client protection: Into the mailbag III... New home inducements
- 02/28/08 03:18 AM
Back to the mailbox. These are the types of questions I am getting. Here is what I have to say:
We are thinking about buying a new construction home. In the Sunday Paper the builders seem to be giving away the world. What is the deal?
New home communities that have been around more than a year or two have a very difficult balance. The people that have already bought, might have bought at a price that is higher than the current market will bear. But, the builder would probably be committing financial suicide if they were to go back to … (0 comments)
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client protection: Into the mailbag II... When should we start to look?
- 02/28/08 02:49 AM
I decided to hit my inbox and see what sort of questions consumers may have...
Lane, we are thinking about buying a house in 6 or 8 months. When should we start looking?
A lot depends on the remainder of your situation. There are a few things we need to look at first:
How did you arrive at the time frame for when you want to buy? Is there a specific event that will happen in that time frame that will allow you to buy a house? If so, you may not need to dive in quite yet, but there isn't … (0 comments)
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client protection: Into the mailbag I... Buyer's price range
- 02/28/08 02:31 AM
I decided to hit a few of the questions that I see regularly in my inbox...
Lane, we are looking for a house between $300,000 and $325,000. When you sent us listings, you sent them a little outside the range. I see houses here for $273,000 to $336,000. Why?
There are a few different reasons. When taking into account the other requirements you had for the house; number of bedrooms, basement and parking situation, etc., there just weren't many homes in the specific range you were looking at. The very last thing I want to do is send you one property, … (0 comments)
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client protection: You want options? I have options...
- 02/09/08 06:58 AM
If you are a homeowner that wants to sell your home, I probably have an option that will work for you.
If you are comfortable handling things yourself, but want:
To be listed on both local MLSs To be listed on a load of other sites, like Century21.com and our relocation network To be listed on the sites of most of the local brokers (through reciprocity) To have someone assist you with the post offer negotiations, and to walk you through closing My Choices Program might be what you are looking for. It is a flat fee program. As the seller, … (2 comments)
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client protection: Are you a seller with an expired listing? (poll)
- 01/17/08 02:52 AM
Ok, I'm teasing a little.. The poll is on my website.
I am trying to look at expired listings and see what went wrong, from the perspective of the seller. I have struggled with whether I should post the link directly to the poll, but have decided that I should.
I was going to just give out the address in communications directly with sellers that have had their listing expire, but I really want to get a wide cross section of Gwinnett County (and surrounding) Georgia sellers.
Please, don't respond to the survey if you haven't had your listing expire. I … (0 comments)
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client protection: How is the view from the sidelines?
- 01/17/08 02:35 AM
Through a search a few weeks ago I ran across Real Estate Radio's blog. I have been enjoying the read for quite a while, and even listening to some of the podcasts (they are full radio show recordings, and are two hours long). I don't listen to as much of the podcasts as I'd like, because of the length.
But, the show from January 10th has very interesting notes.
Barry C started off the show by letting us know Geppeto has spoken again and the rates are coming down! Think this is not the time to buy real estate? Fine … (0 comments)
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client protection: MLS? Zillow? Trulia?
- 12/13/07 04:46 AM
I ran across a blog post by Jay Thompson regarding a story in the Wall Street Journal about on-line home searches. He noted that in his area the WSJ had it wrong. He researched the numbers for the local MLS, Trulia and Zillow. His findings were that Zillow only showed about 10-31% of the listings shown on the MLS, and that Trulia only had between 69-90%.
So, I decided that I should take a look at a few zones in Gwinnett County.
For 30087, I came up with 442 (FMLS), 457 (Zillow), and 482 (Trulia) Hhmm… That seems odd. Reviewing 10 … (6 comments)
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client protection: Thoughts on the Foreclosure Bailout
- 12/08/07 05:31 AM
Everyone has weighed in with their opinions about the proposed government bailout of some of the 1.2 million people facing foreclosure... I guess I'll toss out my nickel (side thought... if everyone that has offered an opinion actually gave up the nickel, WE could bail out the people facing foreclosure...)
I don't like government bailouts.
I'm a libertarian (I haven't joined the party, so I'm not a Libertarian). I don't believe that government has a role in every part of our lives. I think that the US Constitution is the guideline for the structure of our laws... and the role the … (3 comments)
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client protection: Boy, I'd almost consider running to answer this one...
- 11/28/07 01:56 PM
So, it's like this...
First, the video is only 27 seconds long, so feel free to watch.
Now, let me tackle the answer.
Jamie, there isn't a quick and easy answer to the question, but it looks like you think there should be from your video. But, let's look at the causes, and let's see if we can find some possible solutions.
Causes:
The fed, trying to keep the economy rolling after the terror attacks of 9/11 kept rates low. Those low rates made a lot of people think about taking advantage of them to … (10 comments)
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client protection: New pricing model
- 11/14/07 01:20 AM
I'm still out here at the National Association of REALTORS(R) Convention in Las Vegas. So far, it has been a pretty cool experience. Sorry I don't have any pictures, I actually have carried my digital camera with me everywhere... but I haven't even seen the strip. So, what interesting stuff is here for consumers? Just about nothing. But, as a REALTOR(R) there have been quite a few interesting revelations. One thing I can say for sure is that I have found a new pricing model that has amazing potential. CMAs (Comparative Market Analysis) look to be a thing of the past … (2 comments)
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client protection: Buyers are Liars... or not so much
- 10/13/07 08:15 PM
I know, I know. It is one of those pervasive statements in real estate. Everyone in the business says it.
Buyers are liars.
But, are they really? I don't think so. My buyers tell me exactly what they want, and then they buy it. When they don't, I eventually figure out I'm not listening. Occasionally, I figure out that they really don't know what they want... or maybe they know, but just don't know how to communicate it.
Usually, when I fall back on the "Buyers are liars" line, I find out that I am putting my desires in place … (42 comments)
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client protection: Dear Mr. & Mrs. Unrealistic Seller
- 10/01/07 03:36 AM
I just wanted to drop you a quick note to let you know that it will be OK. I'm going to come out to give you a listing presentation in a little while. I don't want you to freak out or anything, so I am letting you know what I will say before I get there. I want you to be reassured that nothing I say will cause you pain.
Let's start with the price.
I know that we are in the midst of a Buyer's Market, and I know that there has never been a house in your subdivision that … (95 comments)
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client protection: Z is for...
- 09/17/07 03:20 PM
Z06 Corvette, Nissan 240Z, Z28 (1LE!), Zamboni, Zagato, Zonda, some other fabulous car beginning with Z....
No.
Zillow. I mean really, this is a real estate blog. How could I go through the alphabet and not hit Zillow for Z? If you don't know what Zillow is, go ahead and Google it... we'll wait...
Got it, ok.
There is a whole language that has sprung up around Zillow. The valuations that they provide are called Zestimates. But, most interesting is the use of the word zillow and zestimate as verbs... comically.
Zestimate: to provide a wildly inaccurate valuation. "The … (12 comments)
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client protection: Y is for Youth
- 09/17/07 01:51 PM
Welcome to the home stretch... and I do mean streeeetch.
If you've been following along, you know that I have been running a series of posts going from A-Z. I am almost done, even though I don't know what Z is going to be yet...
It's Y time!
Youth... and real estate... how am I going to tie them together?
OK, I got it.
Again, anyone that has followed along knows that I am a car guy. Well, here's a shocker, I'm a NASCAR fan as well. While I'm not really a Michael Waltrip fan, he did something back during … (2 comments)
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client protection: X is for Xenophobia
- 09/13/07 03:04 PM
I think I was at E when I figured out what the subject of this post would be. As I was writing about ethics, I knew that I would just have to do this post. However, I'm going to stretch the definition to fit my needs.
Simply put, xenophobia is the fear of foreigners, or more commonly, the fear of those that are different. Despite the etymology of the word pointing more towards birthplace or culture, I will be using the looser definition.
Like Garth in Wayne's World, as he was speaking to Rob Lowe's character after the basement show … (0 comments)
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client protection: W is for Win... and Win
- 09/13/07 02:14 PM
One of my favorite things about residential real estate is that everyone can win. Think about it. We have a seller. The house is generally no longer serving their needs. Maybe they are leaving the area because of a new job, a transfer or retirement. They might be having a new child, kids moving off to college, or moving up to a new house because of a promotion.
I know, sometimes people are moving because they can't afford the house, or they got laid off. Companies move, and people don't want to, but have to. But, I've found that most … (6 comments)
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client protection: V is for Virtual
- 09/13/07 01:36 PM
I think that this might be the most over-used word in our lexicon. We live in a world of Virtuals.
Virtual Assistants Virtual Tours Virtual Stores Virtual Meetings Virtual Offices And my very favorite...
Virtual Real Estate Yes kids, there is "virtual" "real" estate. Second Life offers people the opportunity to "own" real estate in a virtual world. Real companies are spending real money to get virtual customers. >as an aside, can virtual companies spend virtual money and get real customers?< The whole idea behind Second Life is worthy of way more than I'm willing to write now... maybe later.
Back … (6 comments)
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client protection: T is for Technology
- 09/11/07 05:20 AM
Talk about a can of worms...
As an agent, there are so many types of technology, and so many options within those types that it can be overwhelming. Every day, I get dozens of emails offering me the exact new technology that is going to make buyers and sellers step all over each other to do business with me and nobody else. Some are quite intriguing, other... not so much. Whether it is broadcast html email, radio broadcasts, lights for my listing signs, listing sheets sent via text message to phones, listing enhancements for popular websites, or search engine optimization, I … (3 comments)
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Continuing the series...
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