WHY USE A BUYERS AGENT
You talk to friends, look through ads, and peruse the Internet searching for that special relationship. Finally you meet someone compatible! Sound familiar?

It may not be that special someone, but having the right real estate agent can make your life a lot easier. As in all good relationships, honest communication, trust, and loyalty are essential in moving forward. (This means on both sides. Your agent can't help you if you're not up-front and cooperative.)

Remember, this is not an adversarial relationship. So here are some tips on getting along with your new best friend:
• Do some soul searching. What factors are the most important to you in your quest for living space? This can be a deck, office, view of the lake, whatever makes you happy. Everything can change, but at least have a viable starting point.
• Get pre-approved. Talk to a reputable mortgage broker or lending institution and get the bottom line on what you can really afford. Experienced agents insist that you do this in the beginning and you'll need it right away if you want to present an offer.
• Choose one agent. If you insist on using more than one agent, be up-front about it.
• Don't ask your agent about the race or religious factors of any neighborhood. It's illegal for agents to respond and they can lose their license if they do.
• Search the Internet and educate yourself about available properties. Pick out some homes you would like to view. This will educate you about the market and let the agent know what you like.
• Let the agent choose listings for you to see too. Good agents know the inventory of available housing and may come up with properties you overlooked, but that match your tastes.
• Give as much lead time as possible for your agent to set up multiple appointments. Leaving messages and receiving calls back takes time. The agent is coordinating your time, another agent's time, and sometimes the owner's time, plus juggling sequential appointments.
• Be on time for appointments. Everyone is on a tight schedule and being just 10 or 15 minutes late can throw off a day's appointments for all of the parties involved.
• Sign contracts promptly when making an offer. Other offers can come in ahead of yours, or you may not be taken seriously if you aren't prompt. It's not a contract unless it's signed.
• Attend home inspections personally unless it's truly unavoidable. The firsthand account of the condition of your home is priceless information. Reading the report isn't the same.
• Work closely with your real estate team to make sure the transition happens smoothly. Don't get overly worked up about glitches on the way to closing. It's just the attorney, inspector, lending companies, and closers doing their jobs.

Some Outstanding Questions
What if we get to the showing and I don't like the exterior of the building. Why should I waste my time going inside?

A. Take a few minutes and walk through. You learn from every home you see; expect to look at many homes before you find the one that's right for you. Also, both agents and the owner of the home have set aside time for you. It's rude to walk away.


Q. What if I start working with an agent and suddenly I can't stand them anymore?

A. It can happen. Don't feel bad. The short answer is unless you have a buyer's agent agreement, just find a new agent you like better.

You will run into problems, however, if you decide you want a home the first agent showed you months ago. That agent is almost always entitled to the commission because they showed it to you first. And rest assured, if they find out you are proceeding with the purchase, the agent and broker will fight for the commission.

Also just be courteous send a quick email that says I have decided to use someone else. It makes life easier in the end.

Dispelling Flat Fee Companies
I have noticed a lot of flat fee Realtors posting blogs about how wonderful they are and I thought I would rebut some of what they have to say about why they are wonderful and give you just a taste of what a full service Realtor does.

A Flat Fee Realtor will:

• They will put your home in the MLS, which will automatically upload to Realtor.com (which is losing market share)
• They will give you a sign to put in your front yard
• They put your listings in other county MLS's what they dont tell you is this is pretty pointless. A Realtor from Ft. Lauderdale is not going to be searching for your home here in Central Florida they are going to refer their buyer to an expert in that area.

Generally this is done for $399

Now if you think this is what it takes in this market to get your home sold, why dont you ask to speak with most of their customers who after spending 3-6 months on the market seek a full service Realtor.

Next if you upgrade to $599

• They will give you a stack of legal papers so when you find a buyer they can fill them out (hint you probably wont need these because 8 out of 10 buyers are working with a Realtor who will already have these papers but we'll get into that later)
• Electronic Lockbox - (You should have this)

This fee is paid upfront regardless if your home sells. Does that flat fee company really care if your home sells? Probably not, they already made their money now it's your problem. They have no financial investment in it. Full service Realtors have personal investments in your property and want to see it sell as quick as possible and for the most money.

Now here are my problems with Flat Fee Realtors:

• You still need to pay at least 3% to the buyers agent, if not more. While it's not always right a lot of realtors see that it's a limited service listing so they know they will have twice the work not dealing with another Realtor. So they expect to get paid for it. Plus every other listing is paying 3% and more, you wont to compete on a level playing ground right? In this market we have over 26,000 active listings in Central Florida, I can guarantee you there are atleast 5 properties out there just like yours.
• A sign in the yard oh yippy! What is that suppose to do, honestly a sign is more for the listing agent to pick up buyers for other properties not for you to sell your home. I sell in many neighborhoods where signs are not allowed and I still get these properties sold. What if you live in a neighborhood where signs are not allowed how is that flat fee company going to help you sell now?
• Lockboxes are a must. Agents dont just show properties on the weekends or in the evenings when it's probably most convenient for you, they show them at 1 pm Tuesday afternoon or maybe even 10 am on Thursday. Can you just leave work to run and show your property? What if the agent is running late? If your property isnt readily available at all time's the buyers and Realtors will move on to the next property.
• Free Contracts and legal documents. Do you know what to do with these? Do you know what you can and cannot say in the MLS and not incur a fine, to not open yourself up to liability both now and after the closing? These papers don't discuss that will they be there for you evry step of the way. Do you know what RESPA rules are? This is a big problem with Flat Fee Companies the amount of liability you open yourself up to.
• So who is writing your ads? You? Can you detach your feelings from your house so you can properly showcase and sell it? You may love certain facts about your house, but others may see these as a negative do you know how to truly sell the property to the widest market?
• So where are you going to market your home besides a sign and Realtor.com and how much is that going to cost you week after week?

I could continue to go on but I think I will have bored everyone by that point, if I havent already. So let me recap.

RECAP:

You pay $599 regardless if your home sells, No one to help limit your liability, No marketing department to write your ads, you have to decided where else to market your property and you still have to pay for marketing again paid upfront, You still pay the buyers agent. So lets break down these costs.

Your listing price $200,000

MLS FEE $599 (This money is paid regardless if your home sells)

Buyers Agent $6,000-$8,000

Marketing $$$ $4,000-$5,000 (This money is paid regardless if your home sells)

If your home sells your total amount paid

Out of Pocket $ 10,599-$13,599

Now, If your home doesnt sell your out of pocket paid

$4,599-$5,599

Now if you use a full service Realtor

List Price $200,000

MLS FEE $0

Buyers Agent $6,000

Listing Agent $6,000

If your home sells the amount paid (but not out of pocket, but from your closing proceeds)

Total Paid $12,000

Now, should your home not sell, your out of pocket paid

$0

Again these Realtors have a full investment in your home and want it sold just as much as you. Plus if you are unhappy with their service you can ususally cancel at anytime for $0. Again you paid nothing out of pocket. So where is the real savings using a Flat fee company?

Maybe my next blog will be what you truly get for the money with a full service Realtor.

Your Realtor is not your scapegoat

You've hired a professional real estate agent to market your home because you realize that by doing so, you will have the BEST chance of selling your home for the HIGHEST PRICE in the LEAST AMOUNT OF TIME. Please, please, PLEASE, listen to your agent...and please, please, PLEASE don't treat us like your scapegoat when your home doesn't sell.
I believe I speak for all agents when I say:

Number 1: I cannot read your mind! Please don't expect me to somehow anticipate that you would leave for a week and turn your air conditioning off in 90 degree weather. As a seller, it is your responsibility to make sure that your home is in show ready condition at all times. I don't feel it is fair to get a phone call from you telling me that your home was probably too hot and didn't show well during the past week, and that you are upset with me because I should have somehow known this...and turned on your AC before every showing. If you want me to do something while you are away...you have to ASK.

Number 2: I did not remodel your home into a floor plan that doesn't accommodate most buyers. I did not pick your lot, put up the flowered wallpaper, or choose your cabinetry. Your home will not appeal to EVERY buyer, no matter how much YOU love it. Please don't blame me when your remodeling or decorating choices make your home harder to sell, or when you haven't serviced your furnace since 1980.

Number 3: I cannot make a buyer want your home! I know you would like to believe that I have magic powers that will sell your home...but I don't. I can't twist a buyer's arm until they "give", I can't force agents to call me back with feedback, and I can't make them give me a reason why the buyers chose another home over yours. They just liked it better. End of story.

Number 4: I do not control the market. I cannot make your house worth more money, even though I wish I could. I don't set prices. If it's overpriced, it will not sell. And if some buyer does come along and offers you your price, it still has to appraise...or no deal. Also, I did not take all the equity out of your house to purchase a boat, take a vacation or to pay off your credit cards. What you owe has nothing to do with what your house is worth. Please don't blame me for the economic conditions of the market or for your spending habits.

Number 5: Please listen to me when I suggest a certain price, or ask you to clean your windows, mow your lawn, remove your wallpaper, or allow showing flexibility. I KNOW the market. I KNOW your competition. I want YOUR HOME to be on a level playing field. I want you to be successful.

Number 6: If you don't trust me, if you don't believe in the hard facts of the market data that I provide...then please don't hire me. We'll both be miserable. I am a professional and I deserve to be treated like one. I will work extremely hard for you and will market your home 24/7. I will go out of my way to make you happy. Please don't tell me how to do my job. I've worked with HUNDREDS of buyers and sellers. This is what I do. I know how to do it, and I'm good at it.

Yes your's truly waited 9 hours in line and dropped $600 on an iphone

So June 29th has come and gone and I am one happy person. I feel like a little kid that just had the most amazing Christmas. I spent 9 hours on Friday waiting in line in front of the AT & T store on Colonial. THere were many days of planning which store would provide us the best opportunity to purchase a phone, had the best ammenities and shade from the sun. I arrived at the AT &T store at 9:15 am and was 11th in line. The first 2 people arrived around 5:30 am. I had 2 friends at the apple store in the millenia mall who arrived at 4:30 am. So if you think I was crazy think again. I have had a few days to play with the phone and I am incredibly in love with it. I hate putting it down for more then 15 minutes at a time. It does everything I could dream of and so much more. And the Edge network is not a snails pace like people say it is, however when on wifi it's just as fast as my laptop. Below are some news interviews with me on FOX 35 and in the Orlando Sentinel. If anyone has questions about the phone I am more then happy to answer them. I predict this phone making me an even more productive Realtor!

http://www.myfoxorlando.com/myfox/pages/Home/Detail;jsessionid=6F93C77B6A8A8B94B3
CA2EAE13668F4AcontentId=3640915&version=1&locale=ENUS&layoutCode=VSTY&pageId=
1.1.1&sflg=1

http://www.myfoxorlando.com/myfox/pages/Home/Detail?contentId=3663259&version=1&locale=EN-US&layoutCode=VSTY&pageId=1.1.1

Orlando Sentinel AD last line in article
http://www.orlandosentinel.com/technology/orl-iphone3007jun30,0,5505045.story?page=2

I saw this article on our RE/MAX website and thought it was a must repost. It's in important for buyers out there to learn from others in their same position. Sometimes people think of Realtors as a used car sales man that we are just there to make money off them. For anyone who thinks this way or may be interested in going alone when purchasing real estate please read the article below and take a look at the website.

Homebuyer Alan Jacobson wants to tell the world, "Always use a Realtor." After weeks of disputes, he outlines his side of the case on a Web site called FSBOgonewrong.com where he and the seller are now in a spaghetti western standoff.
Mr. Jacobson claims that the following happened:
Buyer makes offer of purchase with addendum for sellers to make repairs. Sale price: $441,000.
Buyer and seller agree to use the same attorney to close the transaction.
Home is inspected, problems found.
Buyer hires contractor to work on third floor.
Contractor dies, after cashing retainer check.
Buyer hires a second contractor of Middle Eastern descent.
Buyer notes progress is slow on seller's repairs, expresses concerns repairs will be completed by closing.
Mutual attorney suggests buyer do a walk-through inspection.
Seller denies buyer walk-through inspection.
Seller threatens contractor and hurls racial slurs.
Mutual attorney recommends seller retain separate counsel.
Seller hires new counsel.
Seller denies lender's appraiser to view the property before closing, then relents.
Buyer has property inspected, significant findings threaten sale.
After some back-and-forth, seller offers to lower price to compensate for discrepancies.
Both agreeing to a new price, $420,000, closing is scheduled.
Buyer prevented from doing final walk-through prior to closing due to keys not being available.
Second closing scheduled; keys still not available
Buyer asks intermediary to talk to seller.
Seller tells intermediary - no papers signed, no walk-through; expresses irritation that buyer had "badmouthed" the house.
Buyer hires new attorney
Buyer's attorney calls seller's attorney several times, gets no response.
Finally, buyer and seller attorneys agree to a walk-through prior to closing.
Buyer finds during walk-through that all utilities are off, can't inspect mechanics of the house.
Buyer told by seller's attorney to call utility company, but only seller's attorney has access to house.
Buyer asks for termite inspection; finds inspection report completed 15 days prior to first closing date.
Termite report bad.
Lender refuses loan until termite problem fixed.
Buyer's lock rate on loan runs out.
Structural report suggests termite damage extensive.
Buyer's attorney requests price reduction to cover new costs.
Seller refuses price reduction or to sign a mutual release of liability and termination of the agreement.
Jacobson says, "If the seller really wants to sell this house, he needs to compensate me for all my costs and make the repairs necessary to satisfy the lender."
He explains, "The contract I signed doesn't provide any relief or remedy when the buyer acts in bad faith. For instance, the contract says a termite inspection is required and the buyer must pay for it. But it doesn't require the seller to pay for any termite damage. Furthermore, the contract explicitly absolves the seller for any responsibility for structural damage. My lender requires a clean termite letter, which the termite inspector will not provide until the structural issues are resolved. But I'm reluctant to do this at my own expense to satisfy the lender when I don't even own the property. I'm not a lawyer, but from a literal reading of the contract, the seller has satisfied it, even though he didn't disclose the termite damage, nor provide the structural engineer's report before I lost the lock on my mortgage, in spite of assurances from the seller's attorney that this report would be provided before I lost my lock."
According to his attorney, suing the seller would be a problem, Jacobson says.
"We can only sue for 'specific performance,'" he says. "In this case, we threatened to sue because the seller had not provided the termite inspector's report and the structural engineer's report. Neither were provided before the first three scheduled closing dates, but they were ultimately provided, albeit not before I lost my lock.
"So we can't sue for failure to perform on those grounds. The contact states that 'TIME IS OF THE ESSENCE" but it isn't more specific than that.
"I can force him to sell the property for the contract price of $441,000. That's $21,000 more than the negotiated price, but we don't have the negotiated price as an amendment to the contract. This was strictly a verbal agreement when the first closing fell through.
"So if I sue, I can get the house - maybe three years from now when the case is heard - and pay $21,000 more for it, plus I'm not likely to get all my fees reimbursed even if I prevail.
"While I might win in the court of public opinion, my case on strict legal grounds is not as solid according to my attorney, because the contract I signed was not a standard REIN contract," says Jacobson. "Yet another reason to ALWAYS USE A REALTOR."
Could the seller sell to someone else?
"Legally, the seller can't sell to someone else because he's bound by this contract," Jacobson says. "However, he was legally bound by this contract to do many, many things that he didn't - and that is clearly documented - so I wouldn't put anything past him. If he sold to someone else, I would have to document how I was damaged by his actions. I could show $10,000 in damages, but it might cost just as much to bring such a suit with no guarantee of winning it. So it isn't a slam-dunk option."
When Jacobson asked his lawyer about building FSBOgonewrong.com, the lawyer told him "to go ahead, because it would be therapeutic." Says Jacobson, "It would get it out of my system and prevent it from continuing to eat at me. And he was right."
But that doesn't mean he doesn't have regrets.
"A Realtor once told me, 'You'll know you've found your house when you can see yourself living in it.' And that's my problem," Jacobson says. "I can see myself living in that house. I can see my girls in their new, big bedroom that my girlfriend offered to decorate. I can see the girls running up and down the stairs. I can see us entertaining in our new dining room - the most elegant room in the house, with high ceilings, crown moulding, a window seat, etc. I was even looking forward to working with the contractors to redo all the floors, finish off the exterior, etc.
"So it's tough just to walk away from this deal."
Copyright © 2007 Realty Times. All rights reserved. 6/29/07

Stage Your Home to Sell

The way you live in a home and the way you sell it are two different things, says home-staging guru Barb Schwarz in her book "Home Staging: The Winning Way to Sell Your House for More Money." Here are some home-staging tips to share with clients who are readying their homes for sale:

Staging is not decorating. Decorating is personalizing a space, where staging is "depersonalizing" it. Staging is not about displaying a favorite color rug or ruffles someone loves. It's about selling the house. Remember, if your clients are showing a messy house, they're throwing away money.

If you can smell it, you can't sell it. Make sure your clients do a sniff test and understand that odors they might be used to have to be eliminated. It's a sensitive subject, so handle it with tact.

Clutter equates to stress. One of the biggest challenges to home staging is clutter. Remember, it's just as important for your clients to get rid of excess "stuff" as it is to clean their house. Tell your clients that clutter interferes with potential homebuyers' ability to mentally move into the house. They can't imagine their own furniture in a room if it's cluttered.

Consider painting the interior of the house. Your clients might like the navy blue walls and wacky flower-print wallpaper, but homebuyers want the house to have a cohesive, simple color scheme. Drastic color changes from room to room can actually startle potential homebuyers.

For more information or to purchase the book, visit Schwarz's website at StagedHomes.com.

Buyers Time to Get Realistic

I continually hear that the buyers are waiting for the market to settle down. Buyers are waiting for that killer deal. Buyers are waiting....OK. It’s time for a reality check for buyers. In the Central Florida area, as I am sure with many parts of the country, the real estate housing market has settled down. Yes, there is a great deal of inventory out there, but homes are being sold. Granted, not at as fast as the past few years. But let’s get realistic, that was an anomaly. We probably wont see that for quite a few years. Everything in real estate is cylical. Sellers seem to be somewhat more realistic in that they are pricing. I don’t know why so many buyers have in their minds that the market still needs to adjust. The market did that last year and that was really finalized by the end of the year. Prices aren’t dropping. Nor should they. There are some amazing deals out there already. You can actually purchase a home now and walk in their with some equity. Not like what we saw in 2005 with some people even paying over appraised value. This is the way a normal market is supposed to operate.Prices are not going to go down lower & the interest rates have remained quite low, even more of a reason to get into this market. There is generally price and value built into these homes. If there isn’t, then move on to the next property. There are enough out there to choose from.I know some are now blaming the sub-prime market, but then again, these are people that are just always looking for something to blame. Yes, the sub-prime market took a hit. But, then again they should take a hit for all the risky deals they took and the people who over extended themselves just to get into the market. But, there is money out there for people with less then A credit. It can be found. Our market has bottomed out. It’s as simple as that. It has turned the corner. I’m not just saying this because I would like some buyers. The stats prove this. Dont wait til the media tells you the market has turned, if you wait til then, then you already missed the amazing deals. I know the market is still strong because I have sold properties in this market in just 10 days and closed in 20. These were fire sales, but priced right for the market in great locations. These also werent people who got in over their head last year, but had equity built into their homes so they still walked away making $200,000+ . It can still be done and buyers whenever you can evict your landlord and build equity is a good day to buy regardless of the market.

"Exceeding All Expectations"
www.centralfloridaluxuryestates.com