When I started in this business in 1978, I would have to say in retrospect that real estate was a recreational sport and not a true profession.

Over these many years we’ve done a lot to change that thinking, but in the mean-time we’ve lost a lot of our savvy.

For those of you who go back as far as the 70’s, you know what it’s like to have a “rate book” with you.  You also knew how to qualify a buyer within a few bucks.

But as we were striving for “professionalism“, we were forced to give up a lot of our knowledge because of litigation fears.

Suddenly, we didn’t know what the payment would be any more.  Your Broker (via attorney) said that there was less chance of liability if the buyer was advised to talk to a mortgage person.

How professional would you consider your Dentist to be if he refereed to your canine tooth as “the pointy thing just off to the side.”

Why would a consumer want to work with any professional that constantly says “I don’t know, but I know who does.?”

It’s not that tough to know what’s going on if you try.

It seems as though some agents have made it a practice to “bid up” a bank repo in order to get the property under contract, and then if the appraisal is lower than what they offered they are expecting the bank to pay the difference.

We just recieved notice from one of our asset managers for one of the larger lenders, that (sic) “on FHA multiple offer scenarios, the bank will require the highest bidder to sign an addendum stating that the buyer will make up the shortage in cash between the offered price and the appraised value if the property appraises for less than the purchase price.”

They will also need to provide proof that liquid funds are currently available and will be there at closing if needed. (not quite sure how we’re going to handle that yet).

In addition, they will be requiring a 1% earnest money deposit.

If the buyer is unwilling to sign this addendum, then they will proceed to the next highest and best offer.

Tags: Brokerage Management, Business Planning, education, Professionalism, Realtors

I have a very good friend in the business that works for a competitor.  Over the 30 plus years that I’ve know her, she has always made a point of holding an open house or sitting site on New Years Day.

Her name is JoAnne Stafford with the Contact Corp.

She has told me that over the years, she has made a lot of deals on New Years Day.  I found that hard to believe – since my wife and I usually had a big party at our home the night before.

JoAnne is more devoted to work then to self pleasure. 

I’ve tried the same thing myself over the past few years, (the age thing) and have found that there are several people out-and-about on New Years Day looking at houses.

There reason?  A New Year’s resolution to buy a house!

Not everyone likes football.  What are you doing this Sunday to make a buck?

Formerly known as “Baskett Lumber” this 1.53 acre property is surrounded on three sides by county roads. The primary road is Portland Ave. just off of Highway 512.  Currently operating as a custom saw mill.  The location is virtually impossible to match.

This fenced property is zoned “Neighborhood Center”, which allows for numerous permitted uses.

Asking $649,950.  Owner contract terms are available.  CBA # 461028

Just listed, this 3,700 sq. ft. daylight sits on 1.24 private acres. 2 Master bedrooms highlight this home.  Located in gated community of similar properties.

Home has an abundance of features too numerous to list them all. Extra’s like a 3 car attached garage, security, vacuum, sprinkler & generator systems. Also has 1,050 sq ft. shop, gazebo, yard shed, RV parking and dump.

Sit on your screened porch and savor the view of Mt. Rainier and surrounding area.

Original owner selling @ $449,950.

 NWMLS #9934

 

Tags: sales strategies

 According to NAR President Vicki Cox Golder, there is a big media push going on this year to heighten the public’s awareness of the extended and expanded Home Buyer Tax Credit.

Although it would have been nice to see this program a little earilier, it’s good to know that at least there’s a program in place.

Did you know that the average New Year’s Resolution is only good for 19 days?  That’s not a very good number when you consider the fact that most resolutions involve life-style changes.

As most agents tend to do, I’m looking forward to next year and trying to get myself re-organized and focused on the year ahead.

I think it’s essential for all of us to have a good business plan, and to do the best we can to stick to it.

Considering the fact that I too usually fall into that 19 day scenario, this year I promise that I won’t make even one New Year’s Resolution.  Promise!

One of the things I emphasize to my agents is that it’s imperative that they are in tune with all of the newest information with regards to this business.

This includes any local issue that has to do with real estate, plus any other issue that affects our industry in general.

Now, before you get too excited, I’m not talking about pretending that you’re an expert in “another field”, but at the very least you should be well versed on anything that touches our business.

Once you put out the effort to get out of the mode of saying “I’m not sure about that, but I’ll get back to you” you’ll find that potential customers are impressed with the fact that you eat and sleep real estate.

Until you wake up in the middle of the night with a solution to one of your transactions, you’re not fully involved in the game.

One of my agents called to tell me that they heard that banks were being mandated by the US Treasury to expedite the short sale process.

This isn’t “brand new news” but I hadn’t hear anything about it. I thought I’d pass it on. 

http://news.yahoo.com/s/nm/20091130/bs_nm/us_treasury_shortsales

 

One question that seller’s often ask an agent during a listing interview is “how are you going to market our property?”

Of course the standard response is flyer’s, Internet, virtual tours and the like.

One thing I throw into the mix is that I target top producers and good agents that I’ve done business with in the past.

I want the seller’s to understand that I rely on other agents in my market to bring their buyers to my listing, and I want to ensure that they’re aware of what I have on the market.

I have saved in my email a group I call “top producers” for lack of a better name.

When I get a listing I take a copy of the print-out, scan it to my email and then forward it to everyone on my list.

Nothing dynamic, but it’s affective.

I like to listen to Pandora internet radio while I do this. Since I can pick my own music, I get very enthused about what I’m doing.