seller: Maybe it's time to bury dual agency
- 07/24/07 10:52 AM
First, let me say that I work for a brokerage that does NOT allow dual agency, but does allow designated agency.
Second, let me say that I work in a state which does allow dual agency, if it is disclosed on the contract to all parties.
But, as I look at the landscape, I see something I don't like. I don't like the idea of dual agency. And, further, I think it is time that the NAR step up and stop the practice among its members. I don't want to see the government take the lead, and I don't want … (8 comments)
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seller: The Dirty Little Secret that the FSBO Companies won't tell you.
- 07/24/07 01:56 AM
I keep seeing and hearing about "dirty little secrets" that real estate agents won't tell their clients. Most of them turn out to be pretty stupid points. However, today while going through my morning routine (dead-heading, so my brain needed something to do) I thought of the dirty little secret that FSBO companies don't tell their customers. We all know what it is, but many of us just might have never thought of it this way.
They don't care if you sell your house using their service.
That's it. It doesn't affect their business plan if you sell or don't sell … (24 comments)
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seller: What is going to happen to interest rates?
- 07/23/07 06:26 AM
OK, the water is chest deep now. I started wading in here, and I just don't know when to stop.
So, what do I see happening with interest rates? Overall, I see them going down. But, I think they'll go up first. Was that vague enough that I can claim victory no matter what?
First, the case for rate rising. In the short term, I see rates going up a bit. Not a lot, but somewhat. We won't even get close to the credit card looking rates that Jimmy Carter left the mortgage market with, but rather people will think … (2 comments)
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seller: Are we on the edge of a calamitous housing bubble?
- 07/23/07 06:05 AM
Boy, am I going to wade into it this time...
I was wandering through the FOXNews Real Estate section, and came across this feature story. Reading this, one would think we were seriously in trouble. "... from San Francisco to San Diego — is predicted to decline 50% in the next five years." The story goes on to say "... that America's top 40 cities are facing a average 47.2% decline: Boston is 49.4%. Miami 44.8%. New York 44.6%. And Chicago is 27.3% overpriced."
I'm wondering about here in Atlanta. I'll be going out to get a look at the book, … (6 comments)
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seller: Pictures are the first (and maybe last) impression you will give a buyer
- 07/19/07 03:04 AM
So, don't screw it up.
Do you feel like you should rush out and buy this house?
This particular house isn't listed with an agent (to my knowledge), but is FSBO. But, this is the foot they are putting forward to try to get a buyer. Unfortunately, I have run across NUMEROUS examples that were as bad, or worse, that WERE listed with agents.
In some other cases, there are problems when moving away from native resolution.
Normally, when one clicks on the picture, a full sized image pops up. In this case, it doesn't.
Make sure … (9 comments)
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seller: Customer dis-service Pt. II
- 07/18/07 10:05 AM
Here is the other one...
There is some infill near where I live. There are some VERY nice houses being built in the $500k-$600k range. A couple of these were finished late last year. Now, the builder is building a small subdivision (I think it will be about 10-12 houses) next door. The first two houses haven't sold yet, and the new ones are coming along nicely.
All good so far... Now the not so good.
The two completed houses have grass. Weedy, uncut grass. No other landscaping. No pinestraw. No mulch. Nothing. Just weedy, uncut grass and a few … (0 comments)
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seller: Customer dis-service Pt. I
- 07/18/07 09:49 AM
There are a few things that have my shorts in a bunch... so, here they are. Careful. They've been brewing for a little while.
There is a house in my subdivision that has been under contract since February... that's right, February. It will six months if it closes on time. This house is listed with a flat-fee company. The listed price was reasonable (I'll be curious what it actually sold for). When it went up for sale, it was a well kept house. Of course, now it looks pretty run down. The grass was cut once or twice, and is LOADED … (4 comments)
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seller: Repairs, Improvements, Upgrades and Resale
- 07/17/07 03:29 PM
After posting up about What buyers are looking for yesterday, I got to thinking about an article I wrote on my website a couple of months ago. I thought it might go well here also. It is a little more specific about what I am looking for when I am looking at a home from a buyer's perspective.
Many people make improvements or modifications to their homes. Some are made to increase the livability of the house, other are made to increase its value. Still others are made to put the house back into working order.
First, I think that improvement … (0 comments)
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seller: I stand corrected.
- 07/16/07 12:31 PM
I have been preaching about how a home's value is never related to the needs of the seller or buyer, but rather it is wholly dependent on what the market will bear (a price that a buyer and seller are willing to both agree upon, without extenuating circumstances). Well, I just had one of my clients call me a few minutes ago and present a situation where that isn't true.
My client and his wife purchased a home from me around 15 months ago. Without being too specific, a developer approached them this weekend and wants to buy their home. He … (1 comments)
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seller: What are buyers looking for?
- 07/16/07 08:50 AM
The NAR is getting ready to release their 2007 Profile of Buyer's Home Feature Preferences in about a month. For the REALTORS that don't subscribe to the NAR weekly newsletter, or those that are looking, here is the blurb:
Central air conditioning, walk-in closets, hardwood floors, high-end kitchen appliances, oversized garages and patios were among the features buyers said they would pay more for in a home, according to NAR's soon-to-be-released 2007 Profile of Buyer's Home Feature Preferences. Due out in early August, the report looks what buyers want, what they pay more for and what they end up with when … (2 comments)
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seller: Lessons from driving school, Part II
- 07/15/07 12:22 PM
The other major concept I learned in driving school had to do with the level of performance. This is less directly applicable to the outside world, but actually more of an all encompassing concept.
There are four levels of competence/performance. Let's start from the bottom.
Imperfect/Unconscious (I/U). Basically, I'm doing it wrong, and I don't even know it. My performance is bad, but I don't have enough knowledge to know it.
Imperfect/Conscious (I/C). I know that I'm not doing it right, but I know what I am supposed to do. My performance is bad, and I can recognize it. … (0 comments)
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seller: Lessons from driving school, Part I
- 07/15/07 12:00 PM
I ran across something earlier today that reminded me of driving school and the life lessons that I picked up there.
When I was a bunch younger, I went to a few high performance driving schools. They were great learning experiences, and the people that taught were amazing coaches and motivators. I think that one of the most amazing things about the assistant instructors was that they were providing this motivation and coaching from the passenger seat of a car they weren't in control of... and often the driver wasn't in control of it either.
The first thing that I picked … (0 comments)
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seller: But Wal-Mart does
- 07/15/07 03:32 AM
I promised a continuation of my last blog, and here it is. In the last entry, I talked a bit about limited service and discount brokerage. This time, it will be more about eliminating agents from the picture.
OK, here is the shocking statement to start off with. Buyers and sellers don't need us in order to complete the transaction. That's right, we are not a necessary ingredient. Obviously, the buyers and sellers need each other. They need a real estate attorney to complete the transaction. Usually, they need a mortgage broker. That's pretty much it. They don't need a … (3 comments)
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seller: Mercedes-Benz doesn't discount
- 07/15/07 03:00 AM
The world has changed. The question is, "What are we going to do about it?"
Wal-Mart, Target, Harbor Freight Tools, and scores of other discounters are thriving. But, is that the model that we should pursue? Is that what our customers really want? Are we headed for extinction? With all of the various avenues for information available from valuation websites to transaction advice, are buyers and sellers going to cut us out of the picture? Should they?
Obviously, the real estate agents among us have opinions about most of these questions. And they probably line up pretty well. There are a … (4 comments)
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First, let me say that I work for a brokerage that does NOT allow dual agency, but does allow designated agency.
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