King For a Day Series – Real Estate Clients

By
Managing Real Estate Broker with eXp Realty RB-19250

King For a DayAfter a comment from Jayne Dodgson on my previous post King For a Day Series - Real Estate Agents I realized I left off an important group in the series. 

If I were King For a Day what rules would I make for real estate clients to improve the process of buying and selling homes?

If I Were King, These are a Few Things I Would Require of All Sellers:

  • Be honest at all times.
  • Give full disclosure to your agent and the buyers on any material facts.
  • Return phone calls and needed documents on a timely basis.
  • Allow a lock box with very few exceptions.
  • Make the home available as much as possible for showings.
  • Keep the yard clean.
  • Have the house clean for all showings, no dishes in the sink.
  • If you have a dog, tie him up or take him for a walk when there is a showing.
  • Do not try to negotiate with buyers or agents on your own, let your agent represent you.
  • If you think your home is worth more than all others, you probably need reality training.
  • All of those collectables are clutter to potential buyers.  They are not staging materials, box them up.
  • Buyers do not need to see 50 pictures of your grandchildren, box them up.
  • Painting your interior with bright or dark colors like orange is not fen shui; neutralize it.
  • Make your home available to home inspectors, termite inspectors, appraisers, surveyors and any other professions that need access to complete the sale.

If I Were King, These are a Few Things I Would Require of All Buyers:

  • Be honest at all times.
  • Be loyal to the agent who is working with you and work with only that agent.  Severe all ties properly before working another agent.
  • When viewing property, do not make disparaging remarks about the home or the people living there, especially when others can hear you.
  • Show up for appointments on time or call ahead if you are going to be late.
  • Do not make silly offers on properties just for sport.  No the seller will not take $100,000 less than market value.
  • Do not ask your agent or loan officer to do anything illegal or unethical.
  • Do nothing illegal or unethical.
  • The agent does not have a list of properties you can flip in a month for huge profits.  If they knew of one they would have already bought it.
  • Get a full mortgage pre-approval with documents from a reputable lender.  Your real estate agent can point you to one if you do not have one. Do not do a pre-qual over the phone with Bob's Mortgage and Hair Cutting emporium in another state.

I am sure I missed a couple.  Feel free to add your favorites to this list. 

As a professional REALTOR® I go over items on this list with my clients before we enter into a business relationship.  You are not doing your clients a favor by allowing items on this list to happen.  They may cause them to lose time, money or worse.

Other King For a Day Posts:

 

Posted by

 

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Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

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Ambassador
1,211,830
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)
Randy - I like this idea - creative series of posts.  I wish I could mandate these things as well.  Have a great Wednesday!
Oct 30, 2007 07:53 PM #1
Rainmaker
658,236
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Jason - Thank you.  If we could mandate these changes, just think how civilized real estate transactions would be.
Oct 30, 2007 08:02 PM #2
Ambassador
1,211,830
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)
I would be happy if we could mandate half of these ideas, but I guess that's why we get paid the big bucks, right?
Oct 30, 2007 08:05 PM #3
Rainmaker
658,236
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Jason - For sure

Oct 30, 2007 08:08 PM #4
Rainmaker
785,902
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Randy,

One to add for Buyers and Sellers:

Let your agent educate you.  LISTEN and ask questions in conversation with your agent.  Don't say you understand when you don't understand. 

Oct 30, 2007 10:39 PM #5
Rainmaker
214,570
Lucky Lang
Mel Foster Co. - Davenport, IA
SRES, Davenport, Iowa Real Estate

Randy,

Instead of being King for a day, you should be King forever if you could accomplish this! ;)

My parents are in Waikiki right now.  Say hello to them for me, okay?

Lucky :)

Oct 30, 2007 11:06 PM #6
Rainmaker
589,891
Neal Bloom
eXp Realty - Weston, FL
Realtor CRS-Weston FL Real Estate
Now this one should have a twist to it. Maybe you will get a comment from someone in the public.
Oct 30, 2007 11:09 PM #7
Rainer
21,775
Prudential Preferred Realty Butler PA
Prudential Preferred Realty - Butler, PA

Good job!

No need for dungeons if people just follow the laws of the king!

Oct 30, 2007 11:35 PM #8
Rainmaker
1,470,249
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County
Excellent list, Randy. If you could only make it all happen...
Oct 31, 2007 02:39 AM #9
Rainer
3,740
Tom Cunningham
Agent Support 360 - Austin, TX

" Have the house clean for all showings, no dishes in the sink."

There are exceptions to every rule.. Many years ago, I had my house in The Woodlands Texas for sale. One Sunday morning, as was my usual custom back then, I got up early and made a HUGE breakfast for my family, all six of us, to gather around before Church. The rule was: Attendance was mandatory, but you got anything you wanted. So evey Sunday, I cooked up the whole nine yards. Pancakes, Eggs, bacon, sausage, biscuits, gravy.. you name it. This particular Sunday, my dog escaped from the back yard just as everyone finished eating and chaos broke out. I caught the dog, but had no time to clean up before we had to leave for church. It looked like a tornado swept through an IHOP and deposited it's contents in my kitchen and breakfast area. I figured, "No problem. What are the odds?"  

We got home from Church a few hours later, and as I was in the bedroom changing I heard a shriek from my wife. I went into the kitchen and she was standing there amid the chaos holding our Realtors card. He had shown the house, while we were at church. (This was before the days of cell phones..) I called the Realtor to apologize and ask for another showing and he told me they in the middle of writing up an offer.

At closing I asked the guy how he was able to see through the mess and I'll never forget what he said: "It looked like a bigger, nicer version of our kitchen on Sunday morning".

What ARE the odds???

"Be loyal to the agent who is working with you and work with only that agent.  Severe all ties properly before working another agent"

Now, if you would vigorously encourage your buyers to apply this principle to their Loan Officers, we might truly find ourselves in Camelot!

Great Blog Randy!

Oct 31, 2007 04:28 AM #10
Ambassador
3,554,832
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Randy, now I know that you are living in a dream world.

I can't believe that you are leaving out one of the most important areas of this business "Appraisers".
Oct 31, 2007 05:29 AM #11
Rainmaker
658,236
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Mike - A big one:  Don't say you understand when you don't understand.

Lucky - I am sure they are having fun.

Neal - What do you think they will say?

Oct 31, 2007 07:45 AM #12
Rainmaker
658,236
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

Jayne - The dungeons remind them to follow the rules.  :)

Gary - If I made it all happen, even more people would want to do what we do.

Tom - The type of client who plays more than one agent is usually the same client who plays more than one loan officer.  If a client feels the need to do that, I prefer they be honest with me and find another agent.

Oct 31, 2007 07:54 AM #13
Rainmaker
658,236
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Appraisers - You are the second one to mention appraisers.  I have had good experiences on the conventional loan side in most cases.  I could write a book about a couple of local VA appraisers though.  I have to give that some thought.
Oct 31, 2007 07:56 AM #14
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Rainmaker
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Randy Prothero

Hawaii REALTOR, (808) 384-5645
Ask me for a free valuation of your Oahu Home.
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