GREAT NEWS...MY CLIENTS DON'T NEED ME RIGHT NOW!

These times can test ones priorities. Are we here for our clients or for ourselves?
I don't think, in the 16 years I have been a Realtor, I have ever had such an on again-off again year. I would feel really awful if it was due to some action I took, but it wasn't. It was because my clients had good news that prevented them from completing their real estate transaction.
They were remodeling the home of their dreams. It was going to be their last house...their retirement home. It had acreage to grow grapes. It had space to continue their daycare business. And then, health issues arose and the dream became a logistical nightmare. It was time to fish or cut bait, and they decided the best move was to cut bait. We put the property on the market and had lots of interest, but no offers. A month goes by and the health issues start to be resolved. There is light at the end of the tunnel. They don't want to sell their dream anymore and feel terrible about pulling it off the market. I am thrilled for them...they get to keep their dream! Great news!
She is about to have a baby and wants to purchase a home before the blessed event. She also wants to be a nurse and has had an application in to a highly thought of program for a long time. We found their perfect property and were in contract. We had completed the home inspection and resolved most of the issues. Then, she gets a letter....she has been accepted into the nursing program. However, she can't work, have a newborn and go to nursing school. She has to quit work and can no longer qualify for the loan. The good news is that she has been given the opportunity to follow her dream. The bad news is that we have to cancel the escrow. I am thrilled for her being able to follow her dream (and she had her baby on 11/11/11)!
Her father passed away and left a very nice duplex in a high-end neighborhood in Sacramento. They really don't want to be property managers and so we put the property on the market. It is truly an owner-occupied type of duplex so there is a limited number of buyers. After several months, they get the chance to have both sides rented, but the new tenants don't want to move in with the chance that they will be evicted soon after. I agree that their best option is to take it off the market until next year, so it is withdrawn. They own it outright, so it is great that they will be able to have an additional income.
She turned the single family home that I had sold her into a legal duplex, and did it well. Now she wants to get out from under a student loan and selling the home would make a good dent in her debt. I list the property and get ready to put it on the market. However, there is a chance that one of the tenants might want to purchase it and she discovers work that the property needs before selling it. We decide that now is not the time and to revisit selling it in the spring. She is happy to have the reprieve until she has more time to deal with it.
Often, our own interests come into conflict with what is best for our clients. We need to know that what is most important is what is right for the people we represent. Their lives are changed by events like what I have described. We just get a little less income. Priorities are pretty easy to assign when looking at it from the perspective of our clients. I am thrilled that, ultimately, it was better for my clients to not need me right now.

THE QUESTION SELLERS FORGET TO ASK...

Sellers are very savvy these days. They understand the essential process of interviewing Realtors and getting referrals from friends and family. Sellers are getting better about understanding the critical decision to work with an Realtor who works and understands their neighborhood. The message of working with a Realtor as opposed to an agent is also starting to be part of the decision making process (Realtors are held to a higher ethical standard). They ask such questions as:

How long have you been selling real estate?
How many homes have you sold in the last year?
How are you going to market my home?
What do you believe is a fair market value of my home?
Do you do open houses?
Do you work in this neighborhood?
What is your commission?
Where do you advertise?

Here is the question that sellers forget to ask their Realtor:

How many of the homes you listed in the past year sold?

The reason I point this out is that this should also be a critical part of the decision making process. Let me explain. There is an agent that dominates a neighborhood. This is evidenced by the number of signs erected in the area with her name on them. You would think that this translates into sales. However, when researching the actual production of this agent, it is discovered that of the 30 homes she had listed, 14 were either withdrawn or expired, with only one of those 14 coming back on the market and eventually selling. This tells a story. This Realtor either overprices the homes she lists or has unsatisfied clients in the end. Either way, is this an agent a seller really wants to have representing them? If the seller had not asked this question, they would have thought that she only listed and sold 17 properties.

So, next time a seller interviews a Realtor to list their home, ask for all of the information needed to make an intelligent choice...including the ratio of listed to sold homes.

TAKE ADVANTAGE OF YOUR REALTOR

We are here to be used and taken advantage of...the moment you decide that you want us to represent you.

There is an assumption among Realtors that if you have decided to have representation...and even better yet, have us represent you, then you felt that you did not have the expertise to accomplish the task at hand on your own. This being the case, the next step would be to trust that with our fiduciary responsibility to you, we are giving you the very best advice for your situation.

For example, if you tell your Realtor that you want to low ball every offer you decide to write (and I promise, with this approach, you will write a lot of offers), listen to what your Realtor has to say. In some cases, a low ball offer is just fine. However, writing a low ball offer in the first week a property is on the market is not one of those times.

If your Realtor tells you that to maximize the net to you as a seller you should spruce up your home with a few upgrades, don't wait until it has been on the market a month to decide now is the time to take your Realtors advice. It will be too late.

If your Realtor tells you that the house you have fallen in love with will not last, trust your Realtor. Odds are there are others that feel the same way. Write an offer immediately. If you don't, then don't be angry with your Realtor or the listing agent if it sells before you get off the fence.

When you are discussing the listing price for your home, trust that your Realtor knows the market and the correct price. Padding for negotiation simply doesn't work in this market. You can't negotiate an offer you don't get because you have overpriced your home.

These are just a few instances of the reasons you need to take advantage of your Realtor. You will find a much better real estate experience if you use the expertise and knowledge offered to you!

REALTORS WANT TO GET TO KNOW YOUR HOME

If you had a horrible headache, would you go to your doctor and say "Just look at my head and tell me what's wrong."? If your car wouldn't start, would you tell your mechanic to just look at the hood and tell you why it won't start?

As strange as these questions might sound, there is a common misconception that REALTORS can tell a homeowner the value of their home by just looking at the outside. There is so much more that needs to be known about a property before an accurate assessment can be made on a property.

Just as a doctor needs to take x-rays, blood samples and other tests to determine the cause of your headache; just as your mechanic must see your engine, listen to it and inspect parts to determine why it won't start, REALTORS must see the interior of your home to know its true value.

Homes have personalities. Their floor plans vary from the shy many-walled home to the outgoing "great room" floor plan. Conditions vary from the old-timer that is cantakerous to the newbie that hasn't had a chance to show off its true character. There are homes that are suave and savvy and others that are simply fun-loving.

As REALTORS, it would be irresponsible to tell a homeowner the value of their home without getting to know their home, inside and out. Anything less would do no justice to the home or its owner.

WE REALLY DO TRY NOT TO GIGGLE!

We are suppose to be professionals, but there are times when the general public really makes it difficult - the ending result being our human side coming out in unrestrained laughter. This generally happens when we are touring homes. I don't know if the agent didn't know how to approach their sellers or simply chose not to. Anyway, here are a few items that will give us agents some hilarity or just a plain ewww:

Please don't leave the whips and chains hanging on the back of the bedroom door!

While hanging a sexy-posed photograph of yourself over the bed may have initiated a new enthusiasm for your relationship, it is just a little too much information for visitors!

Square dancing may be a great way to exercise and a wonderful hobby, but filling an entire bedroom with your netting skirts makes it just a little difficult to actually see the room!

You may want to remodel enough so the toilet isn't still situated in the middle of the house, to be viewed by all!


Please, oh please, if you are not going to flush the toilet, at least put the lid down!

I know that California is very near legalizing pot, but it probably isn't a good idea to leave your bong out...some of us actually know what it is!

Just for clarity, these events are true..they have not been altered to protect the innocent! Anyone is welcome to share their own "I can't believe it" moments! I am sure you can top these!

IT IS ABOUT THE REALTOR MORE THAN THE COMPANY!

You have decided that it is the right time to put your home on the market...there has been a job change, there is a new little one joining the family, the kids have left the nest, etc. By far and away, no doubt about it, the most important first step is bringing the right Realtor into the fray.

First, and most importantly, notice I said "Realtor". The term means that the agent is a member of the National Association of Realtors, a member of the state association and the local association of Realtors. They are held to a higher standard of care than a licensee. You have the power to bring them before the Professional Standards Panel if they do not adhere to the National Association of Realtors Code of Ethics, with some serious repercussions if there is a violation.

Now, you may think that the next step would be hiring the right company. Remember, Realtors are, for the most part, independent contractors. This means that, while the company may have certain expectations of the Realtors, they cannot demand specific actions. Now, certainly, the company may let the Realtor go if they do not follow their guidelines but most will not. Why would they let a Realtor go that was making them a profit?

Your Realtor should be hired by you because they reflect the desires and the ethics that you demand from your representative. You should feel a trust between you and your Realtor that brings a sense of calm to your selling experience. The last reason to hire a Realtor is because they are telling you the price you want to hear. Hire your Realtor because they have thoroughly explained the process. Hire your Realtor because they have helped you understand what you need to do to maximize your net proceeds from the sale. Hire your Realtor because they have shown you through referrals their ability to negotiate and represent your interests throughout the escrow. Hire your Realtor because they specialize in your neighborhood and understand its idiosyncrasies.

Now, there will certainly be companies that specialize in your neighborhood, and you should most assuredly go to that company, but look deeply into the Realtors that work there and find one that you truly feel you can trust.

THE LISTING DREAM TEAM

You have decided to sell your home and are looking for that perfect Realtor that will create the perfect storm of a high price, a quick sale and a smooth escrow. Many agents will tout their ability to do exactly this combination.

However, the perfect listing Realtor does not act alone. A truly successful sales experience is a team...the combination of the efforts of the Realtor AND the homeowner. A united effort goes a long way to have a mutually positive experience.

The smart seller should select their Realtor with one main thought in mind...do you trust your Realtor? If you do, then this means you have done your homework, understand the qualifications of your Realtor and are convinced that this is the Realtor for you. Once this task has been accomplished, the rest is a breeze. You, as the seller, will TRUST that the Realtor is telling you what you need to do to your property to receive the best price. You will TRUST your Realtor that you are being told the right price for your home and you will TRUST your Realtor when you are advised regarding the offer and negotiations necessary for a successful sale.

Mutually, the Realtor needs to trust the seller. The Realtor must TRUST that the seller has made all necessary disclosures. The Realtor must TRUST that the seller will work in a timely manner to accomplish the needed tasks.
So, when you are searching for that perfect Realtor, make sure it is someone you TRUST and someone you can work with. After that, it really can be a positive experience.

SOLD QUICKLY AT FULL PRICE...DARN IT!

When setting a listing price for a home, accurate information and evaluation of that information is critical. The nuances of the neighborhood, knowledge of the comparable properties, current issues facing homeowners and buyers all come into play when setting a market value of a property. Realtors carry on a thorough discussion with their sellers, explaining all of the factors that affect their home's value. The discussion can take the tact of why the property is worth more than the sellers thought, but more often than not, the Realtor is explaining why it isn't valued at the same amount that the sellers thought. Of course, there is an emotional tie for the sellers...fond memories and endearing features of the property that add value for the present homeowners, but are simply a perk for a buyer. So, after long deliberation, the Realtor and property owners come to agreement on an acceptable listing price.

However, does the Realtor have the same discussion on the seller's expectations after the property goes on the market? For the Realtor, an ideal situation would be the property selling in a reasonable amount of time at very close to asking price. From a seller's perspective, receiving an offer too quickly and at asking price translates into not asking enough for the property. When the property is listed, it is critical to include this conversation. If we do our evaluation correctly, and market the home properly, the property should sell quickly and close to, if not at, asking price. The sellers should not be surprised by an early offer - rather they should congratulate themselves for hiring a Realtor that was professional, knowledgeable and thorough enough to do exactly what the sellers required of them.