B.S. swallowed whole; only in Real Estate!

No, not that B.S.!  "Bigger = Sweeter" swallowed whole....what were you thinking?


OK, here's what I mean: only in Real Estate would consumers think its great to put their most valuable possession in the care of the person shouting that they are the biggest, fastest, busiest, cheapest way to go.  Lets look at other services and you'll see what I mean.















1.  When choosing a lawyer, do you want to go with the cheapest firm that spins the most cases through?


2.  When choosing a dentist, do you want the fastest doc racing from patient to patient?


3.  When you want your family jewelry reworked into a timeless piece, do you go to Wal-Mart?


4.  When you choose a builder do you really want to use the crazy-busiest building outfit in the valley?


5.  When you buy a wedding dress do you go to the discount outlet store?


6.  When you are having a baby do you want to go to the office where you never really see YOUR doctor but all the staff instead?


7.  When choosing a hair dresser, do you want the same person who knows you and your hair or just "somebody" who works on the hair team?


8.  When you go to see a play do you want to see the star or any stand in that is available that night because the team star is busy booking other shows?




You catch my drift.  But how easily in sales people can think going to the biggest, fastest & cheapest option is a good idea when selling THEIR MOST VALUABLE POSSESSION.  Do you see what I mean?




Here's what I would tell you if you were my favourite aunt living in another town (hence unable to hire me!):




Dear Auntie,




By all means research and ask around for a Realtor that you can fully trust; use one that has a lot of repeat and referral business; use one that is not running around like a chicken with its head cut off, if they're too busy they won't focus on you; use one that use one that has TIME to be with you and concentrate on YOU.  Use a Realtor that you will see each time, rather than a one hit wonder who will pass you off to someone else in their office.  Use a Realtor that would never put their pay before your best interest.  Use a Realtor WELL RESPECTED BY THEIR PEERS.  Use a Realtor who understands that great negotiation skills require constant learning and not old school bully tactics.  Use a Realtor that wants to sell your home for the best price NOT just sell it to keep up their stats as the #1 producer.  Use a Realtor that takes only the amount of listings they can really wonderfully manage.  Use a Realtor that will help you find the best home and is keeping watch for you.


In short, Auntie, look for a Realtor focused on serving you and not focused on racking up their stats.  They are out there....just don't be bamboozled by the notion that "Bigger, Faster, Cheaper" is going to mean care and optimum value. 

House shopping 101

This blog is intended for those people who either have never bought a home; or bought one so long ago dinosaurs roamed the earth.  In step by step instructions here is my advice:


1.  First and foremost find a full time Realtor you trust that comes highly recommended.  Use someone who will be honest and look after your best interests and be professional about guiding you to the right home and steering you away from homes that might break your heart or bankroll.


2.  Seek your Realtor's advice on a lender to meet with and find out how much money you can ACTUALLY spend on a home.  (A good Realtor will encourage you not to become house poor, i.e. you may not want to borrow as much as the lender will give you!)


3.  Speak with your Realtor about your "must haves" and "would likes" in your new home.  A discerning Realtor will want to know what is important to you as far as lifestyle and family stages too.


4.  Tour homes with your Realtor (your Realtor can show you any one's listings, even private listings; it is likely they will negotiate their commission with any discount or private sales).  For touring, let your Realtor set the pace -- they've gone through a lot of work to set up your showings and sellers are expecting you within a certain time frame.  Courtesy dictates that if you've made an appointment you keep it!  If you roll up to a listing and know you hate the neighbourhood or home, you can still take 5 minutes for a quick tour.  If nothing else it gives you a good frame of reference for pricing.


5. Once you've found the home you want, let your Realtor guide you through the best strategy for making an offer.  There are many variables in a good starting price and your Realtor has likely sold more homes in the last 6 months than most people do in their lifetimes.


6.  Don't get bogged down in endless questions and "what ifs" until you have an accepted offer -- your Realtor will make sure you have enough time for due diligence and will help you to set up an inspection, check title and property disclosures and all other aspects of due care.


7.  Once satisfied with the home, remove your subjects and your Realtor can help you find a good Notary or lawyer to do the transfer work to change home title into your name.


8.  Your Realtor can help with suggestions for moving companies (of course if you have friends with trucks and promise not to have a hideaway bed in a couch or a piano they might help you!).


9.  Enjoy your new home!  Know that a great Realtor is always still available to help with follow up questions or concerns.


10.  A great Realtor is there to help you step by step and keep you safe as you go.


 

What IS fair market value?

Often residential home sales is far more subjective than scientific.  This can drive some people batty -- and some Realtors escape into commercial real estate where formulas and price per square foot gives black and white answers.  Also there tends to be far less human drama in commercial sales.


But, back to residential.  What is fair market value?  Fair market value is an agreed upon price that a reasonable seller and a reasonable buyer can agree on.  Vague enough for you?  There are so many variables in selling a home; location, design, utility, proximity to amenities, privacy, landscaping, size, age, area, school zone, recreation, airport distance....I could go on.  What is important to one buyer or seller is not important to another.  A good Realtor will study comparables; but even this is not an accurate indicator of the end sale price.


Also, even if a buyer falls in love with an overprice property and is willing to pay too much for it, the bank has no emotional attachment and can simply refuse to finance the asking price.  So we come full circle to that key word:  "reasonable."  Sellers and buyers have to have some grounded reasonableness in their assessment of value.


I do pity the analyzers of this world when it comes to buying a home!  They want to know if its better to buy with or without a suite, with septic or sewer, in town or out of town, new or used, one level or two for the best investment.  You might imagine that phrases like, "it really depends," do nothing to satisfy the spreadsheet!


Often when people are twisting about meeting an asking price a Don Henley song lyric runs through my head, "how bad do you want it?"  And if they don't pony up the answer is clear, "not bad enough."


At the end of the day it is not Realtors, Assessors, Appraisers or experts that determine the ups and downs in a market; it is you, the consumer.


Clear as mud?!  Welcome to the world of Real Estate where our job it to get sellers the most money for their home and buyers the best value for their dollar all the while witnessing the market hinging on the vagaries of the population at large!

Dear Realtor....its not about you

I was going to use the title "The difference between successful and failed real estate transactions is you not being a dink!"  But, it was too long!


This morning I reached an agreement with an  out of town Realtor who represents clients wishing to purchase an acreage I'm marketing.  We've been working on this for days; its complex, there are 5 stakeholders involved and some  are out of town.  In the beginning we were acres apart (no pun intended...well, sort of intended).  Without a doubt, the reason we were able to come to a win/win for our clients is because both Realtors acted with professional courtesy and timely responses.


Fortunately it is rare; but on occasion you hear or experience some blowhard Realtor completely ruining a perfectly good transaction because of their rude or unprofessional behavior toward another colleague or the colleague's client.  THIS IS SOOOOOOOOOOOOO DUMB!  Dear Realtor, it is not about YOU!  It is not about how YOU feel or what You want or whether you deem your precious ego has been treated without due deference.


Professional Realtors are in the business of winning FOR THEIR CLIENTS.  What does this mean?  Repeating myself from an earlier blog it means all offers are first met with a sincere thank you and a sincere effort to see if a win/win can be achieved.


How could it possibly be in the best interest of home owners or sellers to have their own agent's ego muddying the sale?


Hat's off to the pros!  To the ego maniacs out there, consider a new line of work.  We're in the service industry and you serve no one by putting yourself first.