Miami Real Estate Models for everyone

By
Real Estate Agent with Majestic Properties 3061802

There are many different real estate models in Miami and as much I would like to say that one is better than the other, the fact is that different people (whether buying or selling Miami Real Estate) will have different preferences.

The idea is that each particular customer should study their options and identify their needs. Telling you that our full-above-and-beyond real estate services are your best choice would not be right since this may not be what you are looking for.

door_options.jpg

Just recently we were working with a Miami real estate buyer that was pre-approved, very motivated and ready to go. We had an interesting experience with a listing agent that deals with "volume sales" in the area. During the 3 weeks that we dealt with his listing we were not able to talk to him without first leaving a message and waiting a couple of hours and sometimes a day for him to return calls. The property was on lock box, we never saw his face, he did not even go to the inspections, and he was very poorly informed about the property.

Our buyer customer was in shock at the poor service he provided for the seller, especially after the deal fell through because of inspections.   This particular agent offers full commission for the cooperating agent on the MLS, does not do much with regards to advertising and discounts his commission because of the fact that he doesn't do much for the seller.

Is this real estate model bad? I really don't think so; it is up to the client to decide how involved they want their Realtor to be.

This past week we were called to list a property in Miami Shores that had been on the market by the same agent. The house had been on the Southeast Florida MLS and there was a sign in front of the house. The MLS instructed people to call the owner directly and the seller showed his own property when available. After months of doing this, the owner realized not only that the property was overpriced, but that he needed a full-service real estate model to work for him, one with an aggressive marketing plan and in which the Realtors would be hands on and very involved.....that's where Rick and I came in.

I do not criticize discount real estate brokers; I do not criticize For Sale By Owners. It is your right to choose what method and model will work for you. Experimenting with different strategies may not be a bad idea either. The market DOES favor buyers and a seller's motivation and flexibility will determine what strategy to embrace.

As far as what value Rick and I bring to the table, take a look at this testimonial written by one of our customers.

 

"I have been involved in several real estate deals over the past few years and therein have dealt with many real estate agents.  Without question my best experience was with Rick & Ines Garcia.  They stand out from your typical real estate agent(s).  Rick is a mortgage broker and accountant so he understood and explained the financial aspect of our deal.  Ines is an architect and she helped visualize possible changes that matched our design taste.  Furthermore, they did not view us (my wife and I) as clients - they thought of us as their friends.  Rick & Ines went out of their way to get to know us better so they could truly understand what we were looking for within our budgetary constraints ".

 

**this article also appears in www.miamism.com **
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Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Neal - thank you!  that means a lot!

Ricardo - I think it's important to point out that unique experiences are out there but sellers better ask the right questions to make sure they are getting what they paid for.

Lenn - I totally agree (and how come that's not strange) - those companies that promise full service and don't even come close, are the ones that make the industry look bad. 

Nov 14, 2007 08:02 AM #4
Ambassador
920,701
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

I have no problem with sellers trying to sell their own homes either way. But, the service is not very good from the sellers for reasons you stated. Only one in my career was really available and even at that, my buyer agent did all the work for both sides. Never spoke to the discount broker except one time to get the homeowners phone number. It was a difficult transaction.

After the closing, my buyer agent said to the seller, well I know this was difficult and I hope you will consider the services of a full-time Realtor next time.

His reply was NO, I would do it the same way. I know it was more work for you, but I saved money. Oh well....

Nov 14, 2007 08:03 AM #5
Ambassador
3,996,899
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert
Ines, Yep different people have different needs, but it is important that Buyers and Sellers fully understand the choice that they are making, and that it is truly what they wanted.
Nov 14, 2007 09:16 AM #6
Ambassador
1,091,707
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
What a combo you two make. Why? Because of your expertise, your selfless personalities and winning smiles :)  And that's why your business keeps going...woohoo for you two!
Nov 14, 2007 10:28 AM #7
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Missy - that seller just happened to get lucky to find an agent to work both deals without jeopardizing the sale. He may not be that fortunate next time.

George - it is definitely about understanding the choice you are making, and unfortunately there are plenty of agents out there that say one thing and do another.  We call it "vender gato por liebre" which means "selling a cat as if it was a hare".....I guess the translation doesn't work out.

Sally - you are too kind.  THANK YOU!

Nov 14, 2007 10:58 AM #8
Rainmaker
595,547
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate
Great post. You're much kinder than I am about having to call the seller directly when showing their property. It usually means I'm expected to do twice the work for the same commission as most other listings. Plus, too many sellers tend to hover instead of leaving so the buyers can relax and really picture the place as their own home.
Nov 14, 2007 01:40 PM #9
Rainmaker
147,221
Kaye Thomas
Real Estate West - Manhattan Beach, CA
e-PRO, Manhattan Beach CA
There are lots of models out there and everyone should be able to choose the one that suits them.. But there should be some truth in real estate law.. if you aren't full service don't pretend you are..and don't use me to do what you don't do... Grrrrr.. these guys really irritate me..
Nov 14, 2007 01:49 PM #10
Rainmaker
895,821
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT
Ines - The combination of your architect skills and your husband's knowledge of mortgages is a killer combination.  I don't know of anyone in my market area with that combination of skills.  I hope to meet you one day when we are finally able to get away to South Beach again.  Meanwhile, my mom turns 95 in two weeks, and I am planning a big party for her at the nursing home.  We used to go to South Beach every winter -- that seems so long ago now.  
Nov 14, 2007 03:36 PM #11
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Lisa - what you just said is what sellers need to hear.  A lot of agents will not even show their property if it saying "call owner directly".  Another point that limits their market.

Kaye - I have found that focusing in what I do well instead of what others do poorly is what customers want to hear.  I agree with you that having to do someone else's work is never pleasant and very frustrating.....but if you play your cards yet, you may turn that customer into a life-long referral.

Gail - I also hope to meet you.  Please let me know if you come to Miami, we'll defintely get together.

Nov 15, 2007 12:28 AM #12
Rainmaker
837,778
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Agent
Don't do it!
Nov 15, 2007 01:01 AM #13
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
I did not do it - I SWEAR!  I'm afraid of you Chris.
Nov 15, 2007 01:35 AM #14
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Ok - so I caved - pushed the button.......WHAT A GREAT LINK!!  thanks Chris! : )
Nov 15, 2007 01:41 AM #15
Rainmaker
837,778
Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Agent
LOL.  I forgot I put that link in.  That is a record for amnesia.
Nov 15, 2007 01:43 AM #16
Rainer
292,562
Diane Aurit
LKN Realty, LLC - Mooresville, NC
Lake Norman Real Estate
I dared to click the link and once again got to see your beautiful Miamism site.  You two, as the others have said, are an extraordinary team with experience above and beyond even the best of Realtors.  Combine that with your ethics and professionalism and I can't imagine why any buyer or seller would not hire you!  The tougher market makes your services even more valuable.
Nov 15, 2007 06:29 AM #17
Rainer
130,599
Billnulls Blog Florida Realty Professional
Charles Rutenberg Realty - Clearwater, FL
AHWD
I have had dealings with agents like that - in the MLS they write that they do not want to be called, to contact the seller directly - this always amazes me - I don't understand why you would even bother listing with such an agent -
Nov 15, 2007 08:16 AM #18
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Diane - Chris always gets people to click on her buttons (did that sound right?) - last time I subscribed to a bearded lady.  : )  Thanks for the compliments btw, I really appreciate it!

B&B - it amazes me as well, but the truth is that there are some sellers out there that want to try this and don't see what's wrong with it.

Nov 15, 2007 09:37 AM #19
Rainmaker
251,793
Katrina Madewell
Charles Rutenberg Rlty- More than 5,000 agents(813) 777-1196 - Tampa, FL
Tampa FL Homes for sale | Tampa Bay - (813) 777-1196

The discount shop model seemed perfect a few years ago for sellers, but not now, not in this market... They will more than likely become frusterated, burnt-out, and at the end of the day just SPENT!

.. much like the buyers were 2 years ago!

Nov 15, 2007 04:53 PM #20
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Katrina - I totally agree with you, but we are defending our own cause.  There are sellers that want to take the chance and there is nothing you and I can say to make them understand it's a bad idea.  I think it boils down to the amount of work they want to do, the amount of exposure and marketing they want for their property, and ultimately the risk of not selling and loosing some time in the process.
Nov 17, 2007 02:50 AM #21
Rainmaker
603,254
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Ines - I just always love your writing and insights - I wish we lived closer so I could learn more from you - thanks for a great post - as usual!!!
Nov 19, 2007 03:52 PM #22
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Cyndee - you are too kind - the truth is that we could learn a lot from each other.
Nov 19, 2007 04:00 PM #23
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