buyers: The dangers of buying direct from a "friend" or Seller to save the Agent's Commission
- 02/04/10 10:08 AM
I received a call yesterday from a prospect who wanted to list his condo for sale. After asking all my questions I proceeded to do the research but could not find a trace of his transaction in the MLS. I called him back to find out how he bought it in 2006. He proceeded to explain that him and his wife enjoyed walking by the beach and "befriended" the seller. Long story short, he bought from the seller direct (no wonder this was never listed) at an outrageous price then proceeded to dump an extra $110,000 in renovations for a total … (1 comments)
buyers: Verbal negotiations ? Are you kidding me ?
- 11/10/09 12:14 PM
Three days ago I present an offer on a condo to a well established Re/Max agent in Boca. He comes back the next day via email and writes " the sellers are countering at $.... and want ...." I replied: "verbal counters are non binding, neither you nor I are parties to the transaction (and therefore cannot bind our principals), and you do not have a POA (Power of Attorney). You requested all offers to be in writing and I know you would have refused to present my offer if I just sent it to you in an informal email; so why … (5 comments)
buyers: Boca Raton offers some good opportunities for the million plus condo buyer.
- 11/04/09 07:20 AM
If you are looking for a luxury condo on the water or downtown Boca Raton above $1,000,000, then you have supply on your side. However, you still need to work with an agent who understands the difference s in lifestyle between the different buildings. It is important to note that although supply is greater than demand in the $1m+ segment, proper pricing is not the norm. So it is also important to work with an agent who has a solid understanding of price trends and competition. A strong agent who will know how to present and defend your offer is also … (0 comments)
buyers: Avoid issues when you want to keep those fixtures, appliances, furniture, artwork...
- 11/01/09 11:38 PM
Often times a seller wants to keep certain fixtures or items that typically include: - chandeliers or other light fixtures or ceiling fans - window treatments (curtains, valences...) - appliances - exterior items such as artwork, statues, fountains - certain items that are attached to wall, floor, or ceiling and that may add to the functionality or aesthetics of the home. - the place is sold furnished, but seller keeps certain pieces Usually the issue arises when the property goes under contract with a misunderstanding of what is included in the price and the buyers realize at the final walk through that … (2 comments)
buyers: Price it right if you want to sell it. Do you know your competition?
- 10/25/09 03:02 AM
Most of us are familiar with the concept of shopping around before making a major purchase. But when we are selling we tend to forget to think like buyers. All buyers are looking for a deal. Any buyer wants to get more for their money. Most sellers focus on their specific subdivision, immediate area, or condo building. In the market I serve which is the luxury waterfront, buyers tend to show flexibility in location and product. As a seller, not only are you competing with properties within your immediate area, but also with ones in other communities. Product flexibility is where … (1 comments)
buyers: Is it still a buyer's market in Boca Raton? Are you sure?
- 10/21/09 02:57 AM
The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. Boca Raton is a very attractive coastal community and demand for waterfront properties is high. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number of bedrooms, number of bathrooms, and price range. So far so good right ? … (0 comments)
buyers: Is it still a buyer's market in Highland Beach ? Are you sure ?
- 10/21/09 02:55 AM
The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. Highland Beach is an attractive beach town that offers many options in Luxury condos, Intracoastal Estates, and Oceanfront Estates. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number of bedrooms, number of bathrooms, and price range. So far … (0 comments)
buyers: Is it still a buyer's market in Delray Beach ? Are you sure ?
- 10/21/09 02:53 AM
The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. The coastal area of Delray Beach offer more choices in Luxury waterfront homes and Estates than condos. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number of bedrooms, number of bathrooms, and price range. So far so … (0 comments)
buyers: Is it still a buyer's market in Manalapan ? Are you sure ?
- 10/21/09 02:51 AM
The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. Manalapan is a very upscale residential community south of Palm Beach that offers one of the ultimate location for the wealthy buyer looking for an Ocean to Intracoastal Estate. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ properties that match basic criteria like number … (2 comments)
buyers: Is it still a buyer's market in Palm Beach ? Are you sure ?
- 10/21/09 02:49 AM
The market I serve is the luxury waterfront (homes and condos) along the coastline of south Florida from Palm Beach to South Beach. Palm Beach offers one of the ultimate address for the very wealthy looking for their spot in the sun. Finding a well priced property is a real challenge in this market. Inventory is tight and prices are still high. What we have seen happen overall in the past few years is a gradual shift from a buyer's market on paper to a seller's market in real life. Allow me to explain: On paper and MLS search may yield dozens and even 100+ … (0 comments)
buyers: No, Thank You. Three mighty words.
- 10/12/09 03:23 AM
No, Thank you. These are three mighty little words that can keep you sane, in business and safe... Nothing like working with anybody out of desperation for new business, and ending up with nothing... Describe your ideal client and always profile the suspects. If they do not fit your profile, refer them or say No, thank you. Make sure this is done in a friendly and honest way so as to not burn the bridges, you never know what the future holds. Example for an unrealistic seller: "I am sorry to have to disappoint you once, now. But it is better disappointing you for 6 months (our … (1 comments)
buyers: Do you pay a referral for a prior client ? Tough question.
- 10/12/09 02:53 AM
Here is the scenario: Another agent calls you to discuss a prospect, you agree to 25% referral. Upon receiving the referral agreement you realize you have done business with the prospect in the past. Do you still sign and honor the referral ? Most of the times it is insider information that gets you the deal. When I take a referral I indicate to the other agent that the only time I will not pay is if I am currently negotiating the listing or have already talked to the buyer. Otherwise, I happily pay 25-30% and know that this agent will refer more business … (3 comments)
buyers: Clients' minimum expectations. Basic guide to the new agent.
- 10/04/09 03:47 AM
In this market more than any market your clients expect more from you. Let's look at the minimum expectations: Basic: know your market, sales, trends, what's in demand, and your inventory. You are presenting yourself as a professional, please act, talk, and dress like one. Show up on time. If you have a niche, and you should, don't venture outside of it. It is better to get a 25% referral commission than lose 100% when they walk away after they realize you are in unknown territory. Pre-qualification and Negotiations: be reasonable, courteous, but firm in your negotiations. This is how you earn your respect … (3 comments)
I received a call yesterday from a prospect who wanted to list his condo for sale. After asking all my questions I proceeded to do the research but could not find a trace of his transaction in the MLS.
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