HEY! Respect My ‘Housework’, PLEASE!

August 28th, 2007 Columbus Seller Info, It's My Opinion, The Bad 6 Comments

(Also known as… How A**holes Blow Off Good Realtors)

I’m a Good Realtor. I complete lots of sales (experience), have happy clients, take ongoing Continuing Ed classes, get involved in the Realtor community with committees, etc. etc.  

I ALSO communicate well, get back to people quickly whenever they have a need I can help with, know the market very well, and can give you all kinds of stats and details on that home you’re thinking about buying.

All this has an end goal and hope of: Getting a Paycheck. Since there are limited hours in each day, and there is NO paycheck until everyone crosses the Finish Line at the closing (that’s called straight commission, folks), as a Good Realtor I have to choose who I’m going to spend my time with. If I choose Wisely, I get to eat and pay my bills.

Which leads me to the situation a few times this year where I’ve had to tell people that “I’m not able to meet your needs, and wish you well in your search to find a Realtor who can do so.”  That’s Professional Talk for: You’re Fired. Since I want to eat and pay my bills, I need to find another person who can fill that need without pain and anguish.

Now…. THOSE of the ‘Difficult Persuation’ (see the subtitle above) are usually ADAMANT they WANT a Good Realtor- it’s the best for them, yessir-ee. And there’s the dilemna…  Good Realtors are able to find clients that are a pleasure to work with, and could kick that A**hole to the curb.

Here are several ways to accelerate that curb-kicking:

1. Tell that agent you absolutely, positively have to see that house tomorrow at 6 PM.  Let him/her do back flips to get the showing, miss dinner with the kids… then not show up.  When the agent calls you, say “Oh? Was that today?  I’ve had a bad day… I can’t make it.” 

2. Make an internet query, where the realtor responds quickly via email, asking for details on what you’re looking for, asking if he can help, and leaving all contact information. Respond via email- don’t give him any information, just express your extreme disappointment he didn’t call you immediately… and then give him a deadline to call before you look elsewhere.  (Here’s a clue: Good Realtors are busy out working with Good Clients, and not sitting around twiddling their thumbs staring at the phone.)

3. Set the expectation that said Realtor is to be at your beck and call. Laugh at the idea of said Realtor working with you in partnership, utilizing her expertise and skills to find your perfect home.

4. Accuse the Realtor of not helping out quickly enough because the price of your home at $106,000 is too low and he doesn’t care. That’s while he’s in contract with a delightful client who’s buying a home for $72,000.

5. Send all your email inquiries in capital letters: SHOW US THIS HOUSE. Don’t say when you’d like to see it, ask if it’s a good fit, or even say ‘please’.  Then, when the realtor shows it to you, tell her you hate the home and the area, and why can’t you send something you want to really see?

There’s other examples. The bottom line is this: remember the Golden Rule. Do what your Mama taught you when you were a kid: mind your manners. Remember the line from South Park: “Respect my authority…” A Good Realtor will bend over backwards and use all the tools in the toolbox to help you get what you want…. a fine home at a good price. Don’t blow it.

Just What Do Realtors DO Anyway??

April 1st, 2007 Columbus Buyer Info, Columbus Seller Info, From Professional to Personal, It's My Opinion, The Ugly 1 Comment

“I don’t know why realtors should get paid what they do JUST for opening a door to show a house or putting a sign in the yard.”

Sound familiar?

I imagine everyone has heard this at least once (if not actually said something similar). For all those who have thought or said this, I’ve found they are coming from three different places:
1. They’re the type of person who believes the world is out to ‘get them,’ and the same statement is used for all kinds of service professions. They’re convinced the world is out to rip them off– and they’re not having it.
2. They’ve had a bad experience with a bad realtor, who did as little as possible and did it poorly.  They think THAT experience is the sum of what the real estate world comes to.
3. They truly don’t know or understand the process and the work involved in a real estate transaction. And when a problem comes up, what it can take to get a transaction to close.

Here’s a great example of the latter.  Doug Quance, a realtor in Atlanta, GA, has written a good story about the saga of getting to the closing table. 

No, this does not happen in all transactions.  But yes…. there are many transactions where something just as unique and individualized to the situation DOES happen… and the only reason people were happy in the end with a ‘Sold’ property was because of the expertise and dedication of their realtor.

Doug’s story involves struggles with lenders; other problem situations could be due to issues with title companies, non-cooperative parties on the other side of the transaction, unreasonable demands, delayed closing dates… the list is endless. And the person at the center of the storm, busy moving the issues from point A to point B to a successful conclusion is Your Realtor.

So…. as they say in the movie Indiana Jones and The Last Crusade….. “Choose wisely.”  Pick a professional who knows their job and who hangs in there when the going gets tough.

I’m Proud To Be A Simpleton Realtor….

March 18th, 2007 Columbus Buyer Info, Columbus Seller Info, It's My Opinion, The Good 2 Comments

Of course, the definition of ’simpleton’ is all important.

A frequent society definition is ‘brainless, not knowing, dim-witted.’

I choose a ’simpler’ definition- To be simple, uncomplicated, clear, full of clarity. To be able to take a complicated situation and make it easily understood by all.

That should be the goal. To direct, guide and clarify the twists and turns of the real estate maze so buyers and sellers understand the process, the challenges, and the option that lead to the right choices.

In all the busyness of everyday Life, there’s a strong need to Simplify. Ask anyone- we ALL have enough stress in our lives….and very few are craving for more. Buying and selling a home are near the top of the ‘List of Most Stressful Life Events.’ One of the ways I can be a great asset to a buyer/seller is to get rid of the real estate stress.

This is something a simpleton can excel at. It’s ’simple,’ really-

1. Communicate- About everything, no matter how mundane or trivial. It’s the little things that needle and eat at clients and add to their stress.

2. Ask if their needs/questions/concerns can be taken care of… often people are hesitant to bring up worries.

3. Respond promptly- especially with phone calls and requests for information.  There’s nothing worse than feeling neglected or forgotten.

4. Be there when you say you’ll be there.  Better yet, be there a few minutes early.

5. Apologize if you make a mistake, and make up for it.

6. Take those messy, complicated subjects and distill them down into a 2-3 sentence summary.  The shorter and simpler, the better.

I practice my simpleton skills everyday, and I’m a better Realtor (and person) for it.

Don’t Have Real Estate Commission-Breath

February 21st, 2007 Columbus Buyer Info, Columbus Seller Info, Down to Business, It's My Opinion, The Ugly No Comments

A couple of years ago a potential seller contacted me for a market analysis. While reviewing similar sold properties, it became obvious that she had purchased well above the fair market rate when she had moved into the area from out-of-state three years before, and she would have a tough time recouping her costs with the sale.

She sighed when I told her the news. Her buyer’s agent at the time had not given her comparable sales, and had kept pushing her that this home ‘was a great buy.’ Although she accepted her current situation, her comment about the previous real estate agent stuck in my mind. “I just felt like I was only a paycheck to him- I don’t think he really cared about my needs.”

Her feelings are a great example of commission-breath. I love that term, and would love to take credit for it, but the credit goes to Ken Blanchard, the author of The One Minute Manager who used this term in a recent presentation to realtors at the Keller Williams Family Reunion.

We’ve all experienced commission-breath…. from car salesmen, appliance salesmen, and all those other sorts of ’salesmen’ that look at us with a gleam in their eye and see dollar signs. They push hard for a ’sale’ and use a myriad of techniques to ‘make the close.’

Yuck. I feel used and discarded after these attempts have happened to me. I also feel pretty lousy when I hear about realtors with bad commission-breath.

We’ve got a Realtor Code of Ethics that we have agreed to live and work by and state laws that compel us to honor and represent our client’s best interests. The minute a realtor gets commission-breath he’s violating those interests, and in most cases, that client can sense it.

Yes, realtors earn a living helping people buy and sell homes. Those events are life-changing in our client’s lives. If we haven’t done our best to make that life-changing event a good experience, we’re violating our fiduciary responsibility to our client, and we probably have a case of commission-breath

The Rise (and fall?) of the Real Estate MLS- Multiple Listing Service

February 19th, 2007 Cartoons, Columbus Buyer Info, Columbus Seller Info, It's My Opinion 4 Comments

Once upon a Time, Realtors had listings and represented only the Sellers. They did not share their listings, and if a Buyer wanted to see the home, he would have to contact the Listing Agent. 

Over time, other realtors working with Buyers could show the home, but they were still working for the Seller (called Sub Agency).

Showing a home was a laborious process. The realtor with the Buyer would have to drive to the Listing Agent’s office, pick up the house key, drive to the home and show it, then drive back to the Listing Agent’s office to return the key.

Realtors then decided to share their listings.  They created a Multiple Listing Service that was run from a non-profit group- The Board of Realtors.  They printed a book of all the listings so Realtors could know what was available for sale.  They put lockboxes on the homes to make them easier to show.  Realtors guarded their MLS books carefully- this was their ‘inventory,’ much like a store owner who had things to sell.  Realtors even decided that they could represent Sellers and Buyers, and Buyer Representation was born.  Sub Agency died a quiet death.

Then came the Internet. At first, Realtors celebrated- “Hooray! Now there is an easy way to let Buyers know about homes for sale!”

Showing a home became easy.  Realtors with Buyers could call and arrange a showing- and use the lockbox at the home. They could print out maps and information on neighborhood sales. 

Life was Good.

But changes were happening so fast… and there were problems.

Buyers and Sellers felt they had the right to access the Multiple Listing Service under their own terms. “It’s public knowledge,” they said. Sellers wanted to put their For Sale by Owner homes into the Multiple Listing Service. “We can’t be shut out,” Sellers said. “It’s not a monopoly… we think the Government should be involved.”  Other Web services wanted to ’scrape’ the information from the MLS and put the home information on their sites. “The MLS can’t keep their information from us,: they said.  The Government said “hmmmm… we should study this,” and there was much talking and shouting.

“Wait a minute,” said the Realtors. “This is our inventory, remember?  We work hard to get and market these homes.  We pay lots of money in dues, fees, marketing, and Internet costs.”

“We have worked together very hard to build this nice store with lovely things, and now you are saying that anybody can use our store, mess with our things, and put their OWN stuff in there as well. That’s not fair.  That’s not right. That’s not American!”

“Well,” sniffed the Lawyers, “since your Board of Realtors is a cooperative, you can’t exclude anyone. We think you have to share- with anyone, anytime. After all….. it’s for the betterment of all……

What will the Future bring??

Some of the Big Realtors and their companies are thinking about taking their toys and going home. By building their OWN store (Listing Service) and keeping it privately owned, they can control their inventory.  They can decide WHO can visit, and they can kick out anyone who is disagreeable.

 This could be the ‘end of the world as we know it’.  Much of the progress and convenience that everyone has enjoyed could be undone. Progress has brought everyone along nicely up to now.

 Now we wait and see whether the MLS store survives.  Your thoughts?

The Weekend That Real Estate Died in Columbus Ohio

February 18th, 2007 Cartoons, It's My Opinion 3 Comments

If you signed up to get these postings via email, you’re going to be wondering ‘what the %@*^&# I’m doing sending you a boatload of postings’ this weekend in mid-February.

Nothing. That’s what I’m doing. After six years of working as a realtor, this is the quietest weekend I’ve had since I started.

We had a hefty snowstorm this week, and all is quiet on the real estate front. Buyers have gone AWOL and disappeared. There’s no phone calls, no messages, no internet inquiries, no requests for showings….. nada.

I think it was the convergence of snow/ice/snow, bad roads, more snow, temps hovering around 10 degrees, and having a Level 3 Snow Emergency in Delaware County on Wednesday (that means it’s illegal to drive, folks) that tipped everyone over the edge. People may be thinking of trips to the tropics, but they’re NOT thinking of moving.

Sooooooooo…. when facing a weekend alone (loving husband is on business in WARM Arizona), and wondering what the heck I should be doing (and I’ve shoveled the sidewalks as much as I can), I turned to the computer.  Rest assured that this frenzy of writing will NOT be normal.  Normal is wondering how I can find the time to write.

In the meantime, I’ll work at establishing a base of information that Columbus buyers and sellers will be interested in, such as Community sales statistics.

Here’s hoping that life in Columbus gets back to normal soon….

“I Want To Buy A House and Save 3%”

February 16th, 2007 Columbus Buyer Info, From Professional to Personal, It's My Opinion 3 Comments

I just met a buyer to show him two of our listings. After I returned his call, he asked if I was the listing agent….and I explained that our Team represented the Seller.

When I met him, he told me he ONLY works with listing agents to save the 3% commission.  His thinking was that if the total commission is 6% (3% to the listing agent, and 3% to another buyer’s agent), he would work only with the seller’s agent and save the 3%.

 I’ve come across this line of thinking before, and that’s not how it works, folks- for one important reason. 

The listing agent and the seller (who pays this commission) have a CONTRACT- a Listing Agreement- where the agreed-to commission has been ‘agreed to’ and signed.  This is a legal document.

The buyer’s thinking that he can manipulate or affect the commission paid is wrong.  That commission percentage has been pre-determined. 

What he’s really saying is “hey, Listing Agent, if I come to you direct I think you should work for less- and in most cases, I want you to do all the work for ME at that reduced price.”

EVEN if that buyer wants to write his own contract and present it (and in most cases, he wants the Listing Agent to write and present it), he’s going to have questions about the purchase process, the closing, etc…. and of COURSE, he expects the Listing Agent to help with these.

THEN comes the question…. who is the Listing Agent representing?  If the Listing Agent represents ONLY the seller, she can’t assist that buyer if it’s not in the seller’s interest.  If it has been agreed that the Listing Agent is representing BOTH the seller and buyer, then it’s a situation called “Dual Agency” and both parties have to be represented EQUALLY. But all that is secondary…. because the buyer wants the Listing Agent to do it for only 3%.  THAT’S because HE wants to ’save money.’

Back to the original point……. if the Listing Agent and the seller have agreed to a commission of 6%, the seller will still pay 6%. Whatever was agreed to will be paid.

The BUYER will not affect the commission paid.

That’s not how it works…… and these are the very REAL challenges for this buyer:

1. He’s going to have a tough time getting the home he wants.  If he keeps on offering a ‘fair market value’ and deducting 3%, there’s no sane incentive for the seller to agree… and they won’t come to an agreement.

2. There is no one looking out for and representing the buyer’s interests. Buying real estate can be complicated and convoluted… and no one is looking out for this guy’s back.

3. By refusing to establish any relationship with a Realtor who IS looking out for this guy’s interests, there’s no incentive to ‘help him out.’ For example, as a Buyer Agent I know of good properties that are coming on the market, but not quite ready.  I have no incentive to share these… or set up an ongoing advanced search via computer…. or call when I hear of a great price reduction on an existing listing.

OK… that’s my rant and I’m sticking to it…..

Taa-Daa! It’s A Baby Blog……

February 12th, 2007 It's My Opinion, The Good 3 Comments

As the proud owner of a happily-developing real estate blog, I’m excited with the milestones and growth of this entity.  The Columbus Real Estate Voice is finding its voice, and we’re moving from squeaks and gurgles to more sophisticated thoughts and appearance.

Actually, the look and format is now quite sophisticated, thanks to the talents of Jim Cronin and Jason Benesch of The Real Estate Tomato.  Thank you, guys…. What started out as a wobbler of a web log (limited format, no flexibility, and no one to teach me-the driver– how to properly drive) has evolved into quite a ‘lovely young lady,’ if I do say so myself.

Now the ongoing challenge is to fill this blog with the information it needs to thrive in the world (think of a 10–year-old girl that wants to be Britney Spears).  A little nurturing, a little nudging along, and consistent morals are the goals I hope to impress upon this space.

The BIG Goal?  To provide you, the Reader, with important unvarnished information that will help you buy or sell a home in the Columbus Ohio area.

Let me know how we’re doing….

Building a New Home With a Realtor

February 10th, 2007 Columbus Buyer Info, It's My Opinion, The Good 2 Comments

What is meant by “Buyer Representation”?

When a realtor is working with you on your behalf, that person is professionally and legally bound to represent your best interests. Remember, if you choose to work directly with a builder representation without a realtor, that builder representative is legally bound to represent the builder’s interests- they are an employee of the builder.

How can a good realtor “make it all better”?

An additional benefit of working with a good realtor is that he/she is always looking at your purchase with future resale in mind, and can give you important advice regarding choices that will improve your resale. Realtors work in both markets- new build and existing homes. We intimately know what buyers want and will pay extra for.

What is the realtor’s commission, and who pays for it?

The realtor usually receives a 3% commission based on the original contract price of the home, and the builder pays for it. It’s a very common misconception that somehow the buyer has to pay a commission- not true in the state of Ohio.

Here’s the BIG question…. can I get a “better deal” if I don’t use a realtor? After all, I’m looking at my bottom line here……

Here’s another common misconception- and the answer is NO. In the vast majority of cases, the builders out there have a general fund that either goes to marketing/advertising, or to paying the realtor’s commission- it’s a set fund. The builder is NOT going to give a discount for not using a realtor…. it’s the same price to you.

(of course, my realtor voice wants to chime in- if it doesn’t cost you to use a realtor, you’re not going to get the home any cheaper NOT using a realtor, and the realtor is legally representing your interests……. what are you, nuts? Use a realtor!)

However……. there are a few unethical people out there who love to break the rules. So, yes… I have heard of occasional builders/builder reps who have a “nod-nod, wink-wink” policy where the realtor was cut out of the deal, and the buyer got something extra (sometimes under the table).

To those whose eyes are gleaming after reading the last two sentences, I offer the following: Your home is (usually) your biggest investment. If you choose to work with a person that does not legally represent your interests, and has demonstrated their lack of ethics in one area….. what do you think the odds are that ethics issues or problems may arise in other areas? Beware………

I visited a builder’s model home on my own, and now they say I can’t use a realtor. What’s that all about?

Some builders have funny rules about realtor participation. They insist that the initial contact with the builder comes from the realtor- it’s called “registering” the buyer.

In these cases, if you visit a model home and you fill out a form, or the sales rep fills out a form for you- Surprise! You have been “registered”. That sales rep has added you to their Quota belt, and will probably get an incentive if you buy a home.

If you want to use a realtor, there’s an easy way to get around this. Simply give the sales rep one of your realtor’s business cards, or tell them your realtor’s name/number. In the vast majority of cases (most people are honest, hardworking folks just like you), you’re set, and there no futher problems.

In that rare case where they are insisting you can’t have your realtor participate, there’s a simple way to ensure you can be represented- tell the builder you’re not going to build without your realtor participating. When it comes down to the wire, the builder will want to make a sale- and you will have the personal representation you desire.

Another MUST Read Link:
Building A New Home Basics

Trials of Creating a Real Estate Blog

January 30th, 2007 It's My Opinion 1 Comment

I’ve spent 6 months trying to get this blog up and running…..

Such is the life of a Realtor. It’s the struggle of finding the T-I-M-E to get it set up, learn how to do it, write down the words in my head, solve the problems that come up (there’s ALWAYS problems with technology)- in short, create a new thing. 

All the while working with clients, showing properties, writing contracts, trying to keep contracts together, dealing with inspection issues, looking for MORE clients….. and then trying to have a personal life.  (Did I mention the wedding that was organized in two months?)

When I began my real estate life in 2001 (just after 9/11), I was passionate about having a part in making a difference in people’s lives (and moving will ALWAYS make a difference).  I was even more passionate about removing the ‘smoke and mirrors’ from the real estate world… there’s a lot of things that are not explained well, and a few things that are downright wrong.

One of the first things I did was create the web site www.findmemyhouse.com with free reports for buyers and sellers on things that would be important to them.  Later I created a newsletter called House Bits Tips that gave market info and related details to clients. So this is just a progression of my ongoing interest.

Stop by from time to time….. I’ve got some strong opinions, which may surprise you.  At the very least, you’ll learn some good, important information………