paul howard: What do "5 hour energy ads" and many buyer agent ads have in common"
- 08/01/12 02:02 AM
Much advertising by so called 'buyer' agents is no better than a "5 hour energy" drink ad I saw yesterday. The ad makes the following statements: 1. they sent a survey to 3000 doctors. 2.of those responding 73% would recommend a low calorie energy supplement to patients that used them. There may be nothing false there but I asked the person I was with what they thought the ad said. They thought the ad said that 73% of 3000 doctors said they would recommend "5 hour energy". In fact, the ad doesn't claim that ANY doctors recommended "5 hour energy". The … (3 comments)
paul howard: Couples: Buying a Home
- 05/11/11 10:53 AM
Buying a home is a team effort for a couple.Communicate preferences with each other. Make sure you each REALLY understand.You may both say you want a yard but how big - and for what? Who will maintain it? Will the need change over time? What if you add kids - or a pet?You may want to be near work. But whose work? Does near to one mean far from the other? Do you want to be near (or far) from relatives? Do you and your partner mean the same thing by ‘near’?Where does the increasing price of gas fit into your … (0 comments)
paul howard: Web domain names as deceptive advertising.
- 02/24/10 04:14 AM
You would think that a domain name like Buyers Only Realty ( www.buyersonlyrealty.net) would be the site of an exclusive buyer's office. In this case it is not so. That is not the only thing misleading about the site: From the site: This statement: " And many times, any property you find on Realtor.com has already been sold or will be sold by the time you get everything in gear." is inconsistent with the experience most Realtors have had. Indeed Realtor.com is pretty much updated at least daily. And this statement (for sellers): "And most importantly, we'll negotiate the sale … (5 comments)
paul howard: Is communication with your lender a challenge?
- 02/16/10 01:43 AM
Is communication with your lender a challenge? I'll give 2 (of quite a few) examples of loan officers that are losing business because they are not responsive.
JP Morgan Chase: I referred many buyer's to a loan officer over the years but then started to get complaints that he was not responsive or very slow to respond. I talked with him about it and it got better for a while. I didn't refer anyone for 6 months then started again. For a while it was ok but then the complaints started again. I have not referred anyone for over a … (1 comments)
paul howard: Please destroy your fax machine and never use it again. Ever!
- 02/02/10 08:43 AM
I am sooo serious. I hate fax machines. I don't own one and neither should you. Get an efax (or similar ) number already. I don't have a fax number on my business card for one simple reason - I DON'T WANT YOU TO SEND ME A FAX. Believe it or not I have email. Unless you don't there is no reason to be sending faxes. And if you don't I probably don't want to do business with you anyway.
Thank you for your time. Regards,
Paul Howard, Broker/Owner NJHomeBuyer.com Realty Cherry Hill, … (21 comments)
It contains the statement: Can an agent be both an exclusive buyer's agent and an exclusive seller's agent? Yes but not with two buyers and sellers on the same transaction. They can only exclusively represent ONE. They can be a limited dual agent."
No they can't. The term Exclusive Buyer's Agent refers to an agent that works for a company that exclusively works for buyers and represents NO sellers - at all.
Paul Howard, Broker NJHomeBuyer.com Realty Cherry Hill NJ 08002 856-488-8444
Member: Naeba … (9 comments)
paul howard: Buyer Representation - Seller Representaton. Equal treatment is not FAIR.
- 07/28/09 04:56 AM
When I am 'fair' to a seller that means I won't cheat them. I will also treat them with respect. That does NOT mean I will treat them equally. In fact I will NOT treat them equally. I will use every legal means I have to gain an advantage for my buyer client. If a buyer wants an agent that will work in that way they should be free to choose such an agent. Does disclosure do that for them? Not necessarily -in fact it almost never does. Buyers often see a house online they like and call the company representing … (1 comments)
paul howard: Market Stats 07-03-2009 Cherry Hill NJ
- 07/03/09 09:38 AM
TrendMLS shows the following ( on July 3,2009) for Cherry Hill, New Jersey. Homes for sale: 667 Single detached homes for sale: 496 Homes under contract: 107 Homes for sale categorized as needing "TLC": 24 (You can bet there are another hundred needing TLC and you won't know till you get there) Homes sold (settled) in June 2009: 61 Homes for sale with at least 3BR, 2full baths, garage, basement: 275, price under $300,000 - 90 That still leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller. When … (2 comments)
paul howard: Today's market stats - Cherry Hill NJ
- 07/02/09 12:19 AM
TrendMLS shows the following ( on July 2,2009) for Cherry Hill, New Jersey. Homes for sale: 667 Single detached homes for sale: 499 Homes under contract: 98 Homes for sale categorized as needing "TLC": 25 (You can bet there are another hundred needing TLC and you won't know till you get there) Homes sold (settled) in June 2009: 61 Homes for sale with at least 3BR, 2full baths, garage, basement: 275, price under $300,000 - 90 That leaves a lot to choose from for the average first time buyer and a lot of competition for the average seller. When the … (0 comments)
paul howard: Deceptive Advertising in Real Estate - Avoid the BS (Bait and Switch) with NAEBA
- 06/30/09 04:02 AM
Deceptive Advertising in Real Estate - Avoid the BS - Bait and Switch I have no problem with agents saying they are a buyer's agent - if they are and will be. When it comes to advertising ones self as a buyer's agent, though, it is unethical to do it without disclosing in the same advertising any potential that they might not be able to deliver on that. The ONLY agents that can advertise unconditionally as a buyer's agent are those that work for companies that do not list homes - Exclusive Buyer Agents. The only way I know to be … (0 comments)
paul howard: New Jersey Home Buyers: When Asked to "Consent to Dual Agency" - Just say no.
- 05/31/09 03:39 PM
Given the number of Realtors misleading the public with websites proclaiming that they are "Buyer's Agents" or will represent buyers as a "Buyer's Agent" I've decided to dwell on this subject a bit more. 5 Questions a home buyer should ask when interviewing to find an agent to represent them: How long have you been in the business? What makes you stand out in your ability to represent me? Does your company also list homes? Can you fully represent me (as a fiduciary) if your company listed the home I want to buy? If I hire you and I want to … (4 comments)
Comments from agents: "You are giving up half the business." "If you don't have listings - how do you attract buyers?" "What do you do when people want you to list their house?
Comments from home buyers: "You are an EXCLUSIVE buyer agent - right?" "How do you get paid?" "I never knew … (4 comments)
paul howard: Buyer agents should be able (and willing) to spot obvious defects in homes.
- 03/13/09 12:36 AM
Glen Fisher, an excellent home inspector I know, recently made a blog post on Active Rain indicating that if agents are to call themselves buyer agents they should know something about home contruction and be able to identify obvious defects. The vast majority of Realtors that commented blasted his stand without mercy. Ernie said, "Glen...Sorry, but you're not going to win this argument...We as Realtors/Agents cannot express more than an opinion about a problem...Simply put, it's not our job, it's yours...Do it and get paid for it!" In one of his responses Glen had said: "If I was a consumer searching … (11 comments)
paul howard: Rebates: Why I think they are anti-consumer - in spite of the DOJ and FTC
- 02/08/09 05:39 AM
Everyone wants a deal and a rebate seems a good way to get one, but is it? I don't think so though my state, New Jersey, very well may join the rebate band wagon. I believe rebates distort the market and allow producers (of products, services, etc) to charge different prices to different consumers. In a nutshell - price discrimination. In the end this results in higher average prices. As a provider of real estate services for home buyers I decide what I will charge my clients. If rebates are permitted, some consumers will select a real estate broker or … (0 comments)
In this installment on reverse mortgages we will discuss a few items; The expected costs of a reverse mortgage, If an appraisal is needed, and Who holds title to your home. Expected Costs of a Reverse Mortgage The costs of a reverse mortgage are very similar to that of a typical purchase or refinance transaction. Expect to pay an origination fee (often referred to as points), title insurance, government recoding fees, a mortgage insurance fee (for the … (0 comments)
paul howard: Timing the market - which market?
- 12/22/08 11:12 AM
Timing the market: We can (I hope) all agree that we have not seen the bottom. Yet some people will continue to buy and not be sorry. Many others will (and should) wait. It is not purely a financial decision though that is an important part. As I have said before, we will only see the bottom when we are looking back. Still timing is not simple. Is it worse to buy 6 months before the bottom or 6 months after. If you buy 6 months before with an interest rate of 4.75% fixed are you better off than if you … (0 comments)
Yesterday in the Philadelphia Inquirer Al Heavens summarized the state of the Philadelphia market (which includes parts of South Jersey). He said "Stalemate. If you're looking for one word to describe the Philadelphia region's residential real estate market this morning, that's it. " I'm not sure to what extent I agree with Mr Heavens but it got me to thinking. Some people still are buying houses so some are selling. But who? and why? Some homes go on the market because of: death divorce forclosure job relocation they want a bigger house they want a smaller … (2 comments)
paul howard: South Jersey Real Estate Market Stats November 2008
- 12/04/08 01:39 AM
The number of homes actively being marketed for sale far exceeds the number going to settlement . Anyone with a home on the market today is 'motivated'. The number of buyers pulling the trigger in November 2008 was far less than in November 2007. The number of those buyers who are investors though is increasing. That happens in a market of low interest rates for mortgages and depressed prices for homes. Allyson Knable, Branch Manager of Superior Mortgage in Cherry Hill quoted an FHA rate today of 5.5% for a 30 year fixed rate with no points.
I have the time - and can save yours
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