We Tell it Like It Is

I'm under the weather today and need to go and lay down. But, I had to write this first. I've been lucky to only have a couple of former clients that I did not enjoy working with--and they were ones that I never actually completed a sale with. 2 of them were sellers that I had listed homes for. One was a couple who bashed everything I did and truly believed my job was a joke...they felt they could've sold their house better than I could but they just didn't have the time to do it. They complained to me once about the fact that they drove around the neighborhood and counted all the open house signs i had put out and thought I should've had 9 signs out instead of 7 and that was the reason why no one came to the open house.

The other former client was a seller who had some issues that are too extensive to explain. We had gotten an offer on her house and she counteroffered at above the list price because she was upset that the potential buyer was a disabled vet who was getting a discount on his mortgage and 0% down payment on a veteran's loan. She didn't think it was fair that he got benefits and she didn't--because she was disabled too. She was hit in the head years ago by a piece of luggage and feels her memory, hearing, & sight were affected. And no one was offering HER a discount.

Pete had one buyer last year that ended up writing an offer w/him for a house and against Pete's advice, it was about $30,000 under asking price. It was rejected. The sellers received an offer later for much closer to the asking price and they accepted it. The buyer saw that it sold online and called Pete back and wanted to submit a "counteroffer". Pete explained that you can't place a counteroffer on a home that has sold.

Stay tuned for part 2 of this....

From the Minneapolis Area of Realtors:

Low mortgage rates, high affordability and government programs designed to encourage home purchases are continuing to spur home sales this spring despite an iffy economy. The week ending April 18 was the fourth consecutive week of pending sales activity that was more than 20 percent higher than during the same week in 2008. There were 1,083 pending sales for the week, up 21.3 percent from this time last year. It was also the third consecutive week of 1,000-plus unit sales, a first-time occurrence since 2006.

All these sales are quickly whisking inventory off the market at a time when new listing inventory is not growing at its typically robust spring rate. The number of total homes for sale is down 18.4 percent from a year ago at 26,318. As a result, the gap between this year's supply of homes and that of previous years continues to grow.

Ok, I've had it. Do people not take this job seriously? I've sold homes from $70,000-$500,000. That's a lot of $ and it involves life-changing experiences for people. Buying/selling a house is a big deal for people. THERE ARE SOME REAL ESTATE AGENTS THAT NEED TO GET OUT OF THIS BUSINESS. Here are the 2 groups that need to hang it up (of course, there are exceptions, but this is geared toward the majority of these 2 groups):

1) Agents over the age of 55. Yep, I am prejudice. Ageism. Call it what you want. I worked in the senior housing industry for 6 years prior to being in real estate and I love older adults and I get along with this population better than I do my own age group. But, its like that infamous debacle adult children go through when its time to talk to mom or dad about taking away their driver's license. The same conversation needs to take place with other licenses as well...specifically real estate. You can't mess around and "think" you are doing things the right way with this job. You have to KNOW you are doing things the right way. Not knowing the ins & outs of TODAY'S industry (but knowing how things were back in 1980) is doing an incredible disservice to your clients and to others involved.

Exhibit A:  I closed on a transaction where I was representing a buyer. The listing agent for the property my client was purchasing was an "old school" agent who sounds like she spends more time in Florida nowadays than she does working the MN real estate market. My co-worker remembers her from 25 years ago. When we had initially submitted our offer to purchase her listing, she saw that my buyer was using an FHA loan (which right now is used on 85%+ of purchases) and admitted she "hasn't dealt with FHA in years". She was appalled at how much we stated we needed in closing costs (which I have seen similar amounts in every FHA transaction I've done within the past year). I told her this was normal. She was convinced we were trying to "pull something" by asking for thousands of dollars more in closing costs than what we really needed. This information was relayed to her clients --who didn't know any better and trusted her-- and her clients were understandably apprehensive about working with us. Luckily, the agent ended up consulting w/another person in her office to find out that what we were asking for is indeed normal in today's market and we were able to follow through with the purchase. However, her clients could've lost out because of her lack of needed knowledge & skill.

Exhibit B: I was representing a buyer on a purchase of a home 3 yrs ago. The listing agent for this home was one that's been in the business for many years and markets himself as a very experienced listing agent. Throughout the transaction, he consistently confused me with another agent from another property he was selling. I had to keep reminding him of what property we were discussing and what the details of the purchase were. It became quite exhausting. He negotiated some terms for his clients that he later forgot about; when I reminded him of it & asked him to put it in writing, he denied saying those things...and those things are what got my clients to agree to the purchase. It became a mess!

Side note: Pete recently called an older agent to schedule a showing on his property. 10 minutes after Pete spoke w/him, something came up and he called the agent back to see if he could change the day. The agent had no idea who Pete was and no recollection of their conversation 10 minutes prior.

Exhibit C:  I have a few clients that started out with a different agent; one that their parents recommended because he/she was a family friend or family realtor from years ago. These clients ended up purchasing w/me because their former agent caused them to lose out on properties because they weren't fast enough at getting offers in, fast enough at being able to get them out to see homes or fast enough at returning phone calls.

Exhibit D:  I have attended numerous classes/conventions where older realtors have complained about today's technology. Some do not know how to check voicemails on their cell phones, send or open email messages, or even scan the MLS for listings for their clients.

To these older agents: Ok you either need to get out of 1985 and into 2009 or hang it up people. I respect my elders and respect the hard work you have done in the past. However, we are in a different time now and you must roll with it. Get educated. I am tired of babysitting other agents and inadvertently protecting their clients in addition to my own. Your lack of modern skill and education is dangerous.

Stay tuned for the next blog that discusses the 2nd group of agents that need to shape up or ship out.

So, you want to find "the one"? It seems like nowadays, people are finding their perfect match online and there seems to be a TON of websites out there right now that can assist them with doing so. I mean, what better way to do it than to be able to look at pictures first. Then, you don't have to show up blindly and realize immediately that its just not going to work. I don't mean to be superficial, but appearance has a lot to do with it and you'd be lying if you didn't agree with me. And you'd also be lying if you disagreed with me that what your friends and family think makes a huge impact too. I mean, you might initially be ok the w/the "not-so-great looking but charming" thing but is that feeling you have really going to last? Others might disagree, but I think getting family involved with this kind of thing isn't a bad idea. Yes, you will get stories & advice from your parents...but take it for what its worth (knowing its been a long time since they had to do it) and just know that its your decision in the end. But, it does help to get a second opinion from people that know you well and know what your type is, etc.

Don't settle! It takes a few spins to find the right one. I can't tell you how many people end up settling and I feel bad for them. Take your time and wait for the right one to come along. It'll be worth it in the long run. Don't want to live the rest of your life wondering what else could've been out there for you. Both Pete & I took awhile...we weren't interested in high maitenance...and age made a big difference to us too. Some people are totally flexible with age, and I might feel that way now that I'm older and more experienced. However, I don't plan to be in that arena again anytime soon. But, between you & me, sometimes I secretly wish I was! I miss that initial excitement and feeling of newness, anticipation...starting over again with a clean slate. Its not that I'm totally unhappy with my current situation; it works for me and I'm happy on the most part. But, I'm always looking (and sometimes gawking, I have to admit) and dreaming. There's nothing wrong with that; its harmless. Its not like its to the point where that's all I think about. I'm certainly not obsessed but its a nice diversion and its fun to dream once in awhile. Enough of that; if Pete read this (which I'm not sure if he even reads my blogs anymore), he'd probably not be too thrilled. I'm sure he knows I look (I admit to commenting out loud in front of him once in awhile and he gives me dirty looks), but he doesn't realize HOW MUCH I look and what I'm thinking when I see what I see. Ok, this has gone way too far! Sorry for my online confessional.

Anyhow, best of luck to all of you looking for "the one". I highly suggest checking out my company website first www.themlsonline.com because we are the best real estate website in town! I also highly suggest calling Pete or I because we are the best real estate agents in town :) Finding a home takes a lot of patience, work, and compromise. In fact, its a lot like dating and relationships!

...what did you THINK I was talking about in this blog?!

So, I feel really bad saying I've had clients that I didn't get along with. I am so freakish about wanting to get along with EVERYONE. But, its hard when people are either crazy or they decide they are my enemy or vice versa from the start, without giving me a chance. And yes, you have to be crazy not to like me! :) Kidding of course.

I had to let go of a buyer for the first time yesterday. I don't know if she reads my blog or not, but I won't go in to full details like I thought I may do. I don't want to use my blog as a vehicle to complain about business relationships that have gone awray. Why am I choosing to talk about this? I am greatly affected by it. I want to be everything for everyone and I have learned that is just not realistic.

This buyer is a good person. She is not trying to intentionally hurt anyone. However the indirect and direct emotional demands were so great that it became stressful to the point where I was completely drained. And after all was said and done, her lack of confidence in me was not the result I was hoping for. And I felt used and abused. And we seemed to be going nowhere fast. I wanted to be her savior, but I think I'd end up sacrificing my own sanity and overall well being in the process. I've never jumped ship like this before. I am a strong person who can withstand more than the average joe or jane. But, in the end, it was self-respect and self-preservation that won. Call it selfish if you want...

I guess you don't realize how you are supposed to behave and what you're supposed to do when you first start looking at houses to buy. I don't ever think about that anymore since its my job and I'm so used to it. So, I decided it would be good to blog about recommended behavior for buyers that are just getting started. I have to laugh at some people (not viciously; its a secret laugh that I keep to myself and find it innocently amusing) when they first start looking at homes. Some people go completely overboard and analyze every inch of each home. I've had buyers open and close every single window (in the summer or in the dead of winter) in the house (when you are looking at 6-8 houses in a day, it gets to be a long day as you have to stand and watch them do this in EVERY house), flush all the toilets (because that's a major indicator of whether a house is a good one to buy), count every electrical and cable outlet, take detailed written notes (even if they don't like the house & know right off the bat they wouldn't buy it), abnd ask me crazy questions like "what kind of cement was used to pour the concrete in the basement?" (#1: do you really think I'd know the answer to that and #2: would that have a direct impact on whether or not you'd buy the house?). Relax you guys!

Looking at houses for the first time -- you just want to walk in and get a feel of it. Do you like the location of the home? Do you like the layout? Do you feel comfortable in it? Can you see yourself living there and being happy? If the answer is no to those questions, then don't bother flushing the toilets. You are not there to inspect the mechanics of the home. You are there to get a feel of whether or not the place could work for you. Save the smaller details for the 2nd showing. Yes, you can and should look at the houses you like again. The first few outings are designed to just get a feel of what's out there. You can take what you like and schedule 2nd showings to see them again. Then, focus more on the details. Open all the windows you want. Ask me crazy questions. See the homes for a 3rd time. But, on first showings, just take it easy and allow yourself to just feel it or not.