Positive Real Estate Professionals

Over the span of the last 10 years, I have watched this battle evolve. When a home owner decides that it is time to part with one of their largest investments, a house, then they have a huge battle ahead of them. They have to pit Realtor® versus FSBO. Before I go any deeper, let me say that in 2007, I attempted the FSBO route. Even with all of my marketing skills and connections to the real estate world, I was unsuccessful in doing what I set out to do. I failed miserably and had to rethink my strategy. If I had to do it all over again, I would have hired someone that could have marketed it for me. With that said, let’s tackle the question between using a Realtor® or selling your home FSBO style.

For those of you that have seen FSBO but do not understand it, it simply means For Sale By Owner. We all know what a Realtor® is, but I fear that many people do not know what Realtors® actually do. A Realtor’s® duties are many, but for the sake of an argument, let’s just state that they are there to market and sell your property for the highest amount that they can. They work for you, the seller, and they keep you out of legal hot water as well. I can sit here and tell you all day long what the difference of using a Realtor® versus FSBO, but why should I when I have access to many different Realtors®.

With that said, I polled the members of PREP for their responses on this very subject. I would like to thank the ones that had the time to respond. If you click on their names, you will be able to visit their sites. If you are in the area any of these great Realtors® serve, I so recommend that you contact them for your real estate.

Jodi Smith of Keller Williams Realty Consultants Agent out of Roswell, GA had this to say:

A Realtor® provides legal information to Sellers in regards to the new Georgia contracts, Truth in Lending and HUD changes.  The market price of homes changes continuously. A Seller needs a Realtor® to make sure they are selling their home at the most competitive price so to attract more buyers.

Lori Cain of Chinowth & Cohen Realtors in Tulsa, OK adds:

As a Realtor® who works with both Buyers and Sellers, I know what Buyers are looking for and how Buyers shop. Coupled with knowledge of local market trends, I am equipped to reach your target Buyer, thereby improving your chances of receiving a higher offer in a shorter amount of time.

Kay Born of Solid Source Realty out of Big Canoe, GA gave this input:

Studies show that sellers who use a REALTOR® get a much higher price for their home.  If you represent yourself, you have a fool for a client.

Brigita A. McKelvie of Keller Williams Real Estate serving the Lehigh Valley area of PA stated this:

Buyers tend to take advantage of FSBO’s and will bring in low ball offers because they know the seller is unrepresented. A REALTOR® has experience negotiating and will get not only the best and highest possible price for the home, but also negotiate any other items that may come up such as contingencies. A good REALTOR® will make sure all goes smoothly with the least amount of worries to the seller right up through settlement.

Jeff & Grace Safrin of F.C.Tucker 1st Team Real Estate out of Valparaiso, IN threw in:

Value added services seperate FSBO sellers from professional REALTORS®. In today’s market, pricing a home correctly, marketing it to the masses, qualifying potential buyers, negotiating the contract, is the easy part. The REAL WORK in real estate transactions these days with changing lending rules is working through multiple issues ( inspections, appraisals, titlework, escrow, etc..) to get the property to close!

Terrylynn Fisher of Diablo Realty in Walnut Creek, CA added:

My job as your agent is really threefold…to be a counselor, a negotiator, and a facilitator.  You benefit from my experience of having successfully marketed and sold hundreds of homes in the past 30+ years.

You’ll benefit from not only what I do, but more so from what I know.

As your negotiator I will utilize every technique that I have ever learned to impact the sales price and terms in your favor.  A skilled negotiator with a negotiating strategy can net you 3 or 4 or 5% extra.

As your facilitator, I’ll insure that nothing falls through the cracks, legalities, contingencies, inspections, disclosures and timely coordination of all the players, that is my job.  Can you do this on your own, sure, but the largest investment many families make in a lifetime is at risk.  We spend 100% of our time on real estate, hiring a Realtor® allows you to have expert advice and counsel and spend your time living your life.

So, with all of this input, one has to wonder why anyone would go it alone and take the FSBO route when selling a home. If you have questions about this article or any article written here, please feel free to contact us. We are here to serve our members and our readers.

Many people who are buying homes today are young, first time buyers. Because of the enormous financial responsibility that buyers are taking on, it is important to do a bit of research into the different options that may be available. With the soft sellers’ market that many areas of the country have been experiencing over the past few years many Realtors®, builders, and sellers are offering more incentives to buyers. Keep in mind that there is no one single, monolithic market when it comes to real estate but thousands of local and hyperlocal markets that are as unique as snowflakes. With that said, one of the most common incentives offered to buyers is the home warranty.

Let me make clear that a buyer should not assume anything when it comes to the home buying process; this includes that a home warranty will be included as an incentive or that one is even available for purchase. Ask your Realtor® about the availability and cost of a home warranty. A home warranty is a service contract that is generally offered for purchase to a home buyer and covers the kinds of mechanical breakdowns that regular home insurance doesn’t. Many home warranties do have deductibles that the homeowner is responsible for paying on a per incident basis. The details of these contracts do vary but they generally cover the repair or replacement costs from normal wear and tear of electrical, plumbing, and heating systems as well as many major appliances. It is important to discuss with your Realtor® what is covered and what is excluded by the home warranty service contract; if you are still unsure consult an attorney. The duration of the home warranty coverage can vary so this is another important point to to be clarified. Additionally, many home warranties can be extended on an annual or multi-year basis for a fee so understanding whether your home warranty can be extended is also important.

There are some common complaints associated with some companies that offer home warranties so it is important to check with either your state’s regulatory agency or your state’s Attorney General’s Office (Click HERE for a complete list) for complaints and/or pending litigation. Some common complaints include the exclusion of pre-existing issues (many of which can be discovered by a thorough home inspection), many home warranty companies favor repair over replacement, and many home warranty companies retain control over who does the work. Of course you can always ask your Realtor® about the reputation and practices of various home warranty companies. Many Realtors® have first hand knowledge and experience with the various home warranty companies.

Your Realtor® can advise you on many of the pros and cons of a home warranty. If a home warranty is being offered as an incentive, be sure the premium is being paid in full for the term (length of time) of the agreement and that it is disclosed on the final escrow statement (HUD1). If a home warranty is not being offered as an incentive, it is ultimately the decision of the buyer to determine if the purchase of one is in their best interest.

Today’s difficult economic reality has many people being vigilant on their spending habits. The following article from Danny Thornton is a great example of smart economizing and potentially costly economizing. I hope that it provides some good food for thought, especially if you are considering buying or selling your home.

Via Danny Thornton on The Mortgage And More Blog:

Over my years of service in the mortgage industry, I have always encountered people that are out to save a dime. Now, before you get the wrong impression, I do not think that saving money is a bad thing. However, when it means that you need to cut corners, I think it is the worst thing that you can do. When it comes to Real Estate transactions, it is best to not go it alone. Too many times I have been speaking to an applicant that is looking to acquire financing to buy a home and learn that they are doing it without a Realtor. In my opinion, this is about as silly as taking a shower without the soap. The water can help knock off most the dirt, but the funk is still going to be there.

Whether you are buying or selling a home, when you decide to take it on by yourself, it is even more difficult. Not only do you lose the expertise of the Realtor of today’s market, you also lose their expertise in marketing. That is just the two things that are on the surface. You lose much more than that when you really get past the surface. A Realtor can instruct you on things that you do not know about, such as the benefits of a particular neighborhood that you might want to check out. Ultimately, going into a selling or buying mode for Real Estate without the advice of a professional is as bad of an idea as it would be to go to Alaska in the middle of Winter with just a bathing suit.

Where most people go wrong with this thought is they typically do not know the ins and outs of the Real Estate Market. Leaving your Realtor on the shelf might cost you money in the end at the closing table. You are basically leaving your negotiator at home. Would you want to have take on a hostage situation without the backing of the best negotiator on the police force? I do not think so.

So, before you decide that you want to list that home on FSBO.com or any other site that leaves out the Realtor, think about what I said. You might save the money on the closing, but if you misprice your home or have trouble with negotiating, you could lose even more money than you are saving. Oh, and before I forget this most important fact; time is money. How much is your time worth?

With this being undeniably a buyer’s market there are a lot of properties for buyers to choose from; this also means that there are a lot of properties for Realtors to wade through to try to match buyer’s wants. This being the case there has been a conundrum in the past two years: why lenders who had agreed in principle to the terms of a short sale would diminish the likelihood of that sale occurring? What I am referring to is the unabashed insistence by many lenders that Realtors on both sides of the transaction take reduced commissions. Now many of you may wonder what the issue with this is; don’t all Realtors drive Mercedes and eat at swanky restaurants? This idea is not only wrong but it presumes that Realtors are heartless as they dine on caviar while their clients can barely afford hamburger helper. Keep in mind as you read the following article from Sandy Noll that the general commission on a sale is 6%. This 6% is then split 3% to the seller’s agent and 3% to the buyer’s agent. Sounds good right? Wait, both agents then have to split their 3% with the Broker/Owner of the real estate office they work for. This split can range from 70%-30% to 50%- 50%. So on that $100,000 dollar sale the total commission is $6,000. Split among the agents makes it $3,000 each and then taking a 70%-30% split (which is very generous on the part of the Broker/Owner) you get the agent making $2,100. While this may seem like a lot, both agents will have to pay out of pocket for all of the marketing of their listed properties and all the taxes. So my point with this big lead in is cutting the commissions of the Realtors not only may be counterproductive in the selling of short sales, it also directly affects the families of Realtors who work hard to provide for them.

Via Sandy Noll:

Score one for Realtors®! This is great news considering the number of short sales in our market and never knowing if you’ll be compensated for all your hard work and time spent!

Fannie Mae Announces Policy Prohibiting Lenders from Reducing Commissions Below 6% on Short Sales.
March 2, 2009 5pm

Every agent who has participated in a short sale transaction knows there may come a moment when the lender announces a reduction in the commission it will approve as a condition of accepting an offer. A great deal of angst circulates around this issue because, despite what the seller agreed to pay in the listing agreement and notwithstanding the advertised SOC, the transaction cannot close without the lender’s approval which is often a “take it or leave it” position. The buyer and seller want the transaction to close and agents do not want to be a road block to that outcome. Balanced against this is an agent’s and broker’s need to earn a reasonable income and justify their own expenses and liability incurred in a transaction. If lenders condition acceptance of short sale terms on agents’ willingness to accept a reduced commission, agents really have no power – except to decline to list or show short sale properties in the first place – a tragic result for everyone, including lenders.
Fannie Mae was made aware of this pattern and the adverse consequences of agents and brokers avoiding short sales. As a result, Fannie Mae announced a revised policy that took effect March 1. Now, “closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate.” This policy applies to Fannie Mae loans only and only to those loans where the borrower is in default. Nevertheless, it should give agents and brokers a degree of comfort in knowing that the agreed and earned commission will be paid on many short sale transactions. For a property secured by a Fannie Mae loan, where the seller is in default, the lender may no longer condition acceptance of buyer’s short sale offer on the agents’ and brokers’ agreement to reduce their commission below a total transaction commission of 6%.

The new Fannie Mae policy says the following:

Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers
Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales.

Sandy Noll
Realtor
Keller Williams Realty Kirkland
425-890-0878
sandy@sandynoll.com
www.letsachieveyourgoals.com

http://positiverealestateprofessionals.com/washington/

Your Residential Real Estate Specialist

Too many times have I seen potential sellers and buyers attempt to go it alone. When you are set out to either buy or sell one of the biggest assets, it is not wise to walk into it alone. So many times I reference buying a home to walking into battle. There is no way that General Patton would have walked into battle on his own. Instead, he had some of the best military minds that stood beside him and helped guide him through it all.

With that said, Sandy Noll wrote a great article and I thought that the readers of PREP would benefit from reading it. As always, if you have questions on this article or anything relating to the Real Estate industry, please ask. That is what we are here for.

Via Sandy Noll:

In todays society where nearly everyone has access to the computer, I know that 80% of home buyers begin their quest of home ownership searching the web for homes in the area they desire to live in.  They search many sites, narrowing down their search to a select few possibilities.  Then they call their agent and go have a look at what they’ve chosen.

While the Internet is an invaluable tool, it does not always provide buyers or sellers with accurate or complete information.  I cannot tell you how many times I have heard “I was on XYZ site and it showed this property available, but you’re telling me it’s not” or just last week I got a call on my own listing and the caller said “Just wondering why the sign is still up?  I saw it on ABC’s site a month ago and now it’s gone, I assumed it had sold?”

As a buyer you can do your own searches but you should also have your Realtor® perform a search for you at least a couple times a week.  I set my clients up on a “hotsheet search” so it takes me about two minutes per client to run a search and email the listings to them.  I don’t look through each listing, and my clients don’t call me after receiving each email.  Only if there is something they want to see will they call me.  It’s a win-win for everyone!  My clients get the latest in price changes and listings and I take them out only when they are ready to see something!

The same can be done for clients considering listing their home for sale.  I would set them up on a “sold” property search in their neighborhood.

As a buyer or seller it’s great to do your research and be educated about what’s happening in the real estate market, but don’t be afraid to employ the services of your Realtor®.  We are here to help you get the most up to date and accurate information.

Sandy Noll
Realtor
Keller Williams Realty Kirkland
425-890-0878
sandy@sandynoll.com
www.letsachieveyourgoals.com
http://positiverealestateprofessionals.com/washington/
Your Residential Real Estate Specialist

Frank Schulte-Ladbeck continues his crusade to help educate the consumer. If Frank had been your high school geometry teacher, he would have made you hunger for knowledge because of the empowering effect it has. This is a prime example of Frank’s keen ability to take a complex issue and break it down so the consumer, and professionals, can understand it clearly. This article deals with the limiting effect on consumer choice that could easily arise with the passage of a couple of pieces of legislation before Congress. The current atmosphere of animosity towards lenders may help the passage of this bill rather than the bill’s own merits. This article is admittedly a bit long but it is well worth the read.

Via Frank Schulte-Ladbeck, Your Houston Home Inspector:

Real Estate, Banks, and the Internet. Why do we need S 413 (HR 111)? Realtor Associations seem to take a view of stopping any change that could effect their business model. Maybe it is time to have them evaluate their own model.

The real estate industry is changing; that change is being driven in part by the internet, and in part by market conditions along with the banking industry. It is hard to defend banks at this time. This may be why the “Community Choice in Real Estate”, a bill which would amend the Bank Holding Company Act of 1956, could easily become law. The National Association of Realtors (NAR) and the local branches like the Houston Association of Realtors (HAR) are actively supporting the passage of this bill. It would help protect the Realtor business model.

This bill has been around for a while, and it is a simple bit of legislation: financial service firms cannot conduct real estate brokerage and real estate management activities. This is the flip side to HR 698, which prevents commercial companies from becoming bank holding companies. The concern behind these bills is that consumers need to be protected from having their options limited by a firm selling a house. Here is the scenario: a bank has foreclosed on a home. Their property management division takes care of the upkeep of the home, while the bank’s real estate brokerage service offers the home for sale. Along comes the buyer who is told that if they wish to buy the home, they have to obtain a mortgage from the bank offering said home. This bank has an insurance division, so they also insist on the buyer purchase their insurance. Hence limiting their “choice”, which leads us to the title of the bill.

Would banks limit consumer choice? That is possible. If you are reading this blog, or are spending time on the web at sites similar to this one, you are obviously an informed consumer, or quickly becoming one. You would know your rights to make a choice, but are all home buyers taking these same steps? To a degree, they are. More people are beginning to start their home search on the internet (figures state as many as 80% of home buyers begin their experience on the internet). Are they digging deeper to obtain more details that would help them make wise decisions? That may not be the case. In fact, they may just be looking for a home, a Realtor, but not details to help them negotiate this purchase well. An uneducated consumer walks into such a major purchase with a disadvantage. This bill would take away that problem.

In my opinion, we face a problem when limiting the ability of a business to find the most efficient mean to carry out trade, and NAR has a history, in my mind at least, of preventing competition. Let us go back to 2007-2008, when the Department of Justice had a case against NAR because they prohibited online brokerages, such as Redfin and ZipRealty, from accessing the MLS (the database of homes that are for sale). Online brokerages offer the consumer the chance to lower their fees associated with the purchase. The internet offers the opportunity for the consumer to pick an choose which service its wants, thereby saving money. NAR does embrace the fact that the internet will be a force in real estate, so they encourage Realtors to head online. Spread the word! Have the consumers come to you! Keep the status quo! At least that is the way it appears.

Banks do not have the best track record when it comes to the foreclosure market. A survey of newspapers or your local news channel will present to you stories of loans not being modified. I have dealt with home inspections where the banks seem to be making it difficult for the buyers by giving no time to have an inspection, insisting on certain prices without concessions to make home repairs found during the inspection, and more. We have seemingly forgotten that treating the consumer with respect and integrity is better for business in the long run. Unfortunately, this method does produce quick, large profits. This pursuit of profits is at the heart of the economic crisis. It has shown that we do need to monitor businesses to ensure that their behavior is satisfactory. I do not think that this means limiting the way a business functions, which is the aim of the Consumer Choice in Real Estate Act. If it was up to me, I would love to see the current CEOs fired from their jobs, and the banks severely punished. This would be satisfying, and it would be the worst thing for the nation, because we rely on the banks to have our economy function.

What would be the best way to give consumer’s a choice? First, we need to include financial education in a high school environment, maybe even earlier. The greatest limitation on consumer choice is their own lack of understanding. We are responsible for ourselves, and we need to take our own actions to improve our lives. We can begin to do this through better education. Secondly, we need to find ways to effectively monitor businesses. There are too many connections between business and government. As an example, the Texas Association of Realtors develops forms which control how the home sale will happen, and these forms are adopted by the Texas Real Estate Commission. This is not entirely a bad thing. Realtors would know best of how to deal with such a transaction, but this process leaves the consumer out of the picture. We need the expert knowledge of professionals in the industry to develop rules further, but we need an advocate for the consumer to ensure their interests are noted. Thirdly, we need to allow businesses to find more cost effective methods for developing their operations model. If we have taken steps one and two, this third step will reduce costs to the business, which would hopefully be passed onto the consumer. Fourthly, rewrite the rules so shareholders will have more power in companies that they own over the CEOs. CEOs have too much power over large corporations, and the owners (the shareholders) have few rights in dealing with them. A sea change is beginning, where some firms have adopted rules that place more authority with the shareholder, but this should come from the SEC as a rule that all companies should follow. The SEC was meant to protect the shareholders, but they seem to believe that protecting the CEOs is protecting the shareholders.

The big problem with my proposal is the first idea, financial education. I accept that there will be people who come away from such education with little to show for it. I think if we begin to treat consumers as adults by telling them they have to take responsibility for their actions, eventually such education would succeed. That is my thoughts on the matter; what are yours?

This is by far one of the best articles I have come across in a long time that really spells out the need for buyers to get a pre-qualification letter as a first step in finding the home that fits perfectly for their situation. In today’s market, when gas is expensive, realtor safety is always a concern, and setting realistic expectations for buyers is more important than ever,  it only makes sense to help buyers maximize their home search. Debbie goes into many of the reasons why this is important. Her article is not meant to discourage any qualified buyer. It is I believe meant to help both buyer and realtor to know what type of house they should be looking for. I am sure you will enjoy this article from one of the most successful realtors in Virginia.

Via Debbie Malone RE/MAX 1st Olympic:

Pre-qualification- When you prequalify for a mortgage, the lender calculates the approximate amount you’d be able to borrow, based on your current income and debt.

Simple right?

Then why don’t buyers understanding this is the first step in the home buying process? Not going through the Sunday Real Estate section and picking out pretty houses they want to see. And, why are agents moonlighting as tour directors? I do have better things to do with my time- really, I do. If you’re serious about buying a home get pre-qualified before you start viewing homes. Agents, if you’re opening doors for just anyone you need to stop.

So Deb, tell us how you really feel.

I received another call on one of my foreclosure listings. After answering several questions about the condition and size, I told the caller the usual info: sold as is, bank would not pay closing costs, they require a pre-qual to accompany all offers. The caller told me they had been looking at homes for several months and wanted to see this one. They aren’t working with an agent, great.

I asked which lender had pre-qualified her. “Oh, we haven’t been pre-qualified yet.” Let me understand this, you’ve been looking at homes, with an agent, and no one has pre-qualified you? NO. Well then, how would do you know the loan amount you’ll be approved for without speaking to a lender? “We’ll get pre-qualified before we make an offer. When can we see it?” Hold on…. I need to explain a few things first:

1. I don’t just run over to a listing and open the door for you. I meet with you at the office, get some information and then we set up the showing appointment.
   
2. I don’t show homes without you first meeting with a lender and producing a pre-qualification letter. (Thank you Judi for teaching me that early on in my career.)
   
3. Not keen on that? You are welcome to call any agent you would like. They’ll be able to get you into the home and I hope it works for you.
   

We all know pre-qualification is just the first step in the home buying process. And I’ve had committment from the loan officer only to received a call a week before closing telling me the loan’s been denied in underwriting. But, times aren’t so desperate that you’re going to run me ragged showing you houses you can’t afford. It’s not fair to a seller to set up an appointment and get their hopes up, then show their home to someone who cannot afford to buy it. I don’t work that way. Miffed? I’m sure there’s an agent out there ready to let you in, but it’s not me. Buh-Bye now.

From the Free Dictionary:

Prequalification. When you prequalify for a mortgage, the lender calculates the approximate amount you’d be able to borrow, based on your current income and debt.

Many lenders offer free mortgage calculators — sometimes called prequalification calculators — on their websites to help you estimate how large a mortgage you’d be approved for.

Since you don’t complete a mortgage application or provide financial details, prequalification is not a guarantee, and simply helps you determine how much you should plan to spend on a home. But before you’re approved for a mortgage, you’ll have to go through the mortgage application process, including a credit check, and provide financial documentation.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

A couple of days ago Fred Chamberlin wrote an excellent article, Buying Your Home: Do You Want To Buy a Foreclosure? In that article he discussed many of the issues that a prospective home owner might encounter when buying a foreclosure. In this post Fred discusses the importance of having a Realtor® that is knowledgeable and trustworthy to represent your interests.

Via Fred Chamberlin of Eugene Loan Guy:

You are in the market for a new home and you have decided that you want to maximize your investment by buying a foreclosure. You read my last post about some of the problems encountered with a foreclosed property and have gotten yourself set up with a knowledgeable lender and are ready to proceed with the next step in the process. So, let’s talk about the next step: Finding the right Realtor®.

I am not the world’s greatest expert on Realtors®, however I know the ones that I have worked with and understand professional behavior. I know there are Realtors® that can work as the listing agent and the selling agent, but personally, I believe that a buyer should be represented by their own agent and not risk the possible conflict of having a listing agent as your buying agent. The only thing worse, in my opinion, is having your Realtor® also as your loan officer. Now, that I have that out of the way, how do you determine who the right Realtor® is for you? Here are some of my criteria:

1. Find someone that you respect.
2. Find someone that you trust.
3. Find someone that you will listen to and will listen to you.
4. Find someone that you believe.
5. Find a professional.
   

Do they have to be a man? a woman? young? old? in Eugene? in Springfield? The simple answer is, yes. Your Realtor® should be someone that you decide. Ask them questions and develop a rapport. Tell them what you want. Make certain they are familiar with the area you want to live in.

Can I recommend someone to you? Absolutely! There are a number of Realtors® that are linked to my website and I can recommend all of them highly. For specific recommendations, I have specific people in mind.

A good Realtor® will have access to all of the foreclosed properties in the area you are looking in. This Realtor should be able to narrow the choices from what you have shared but often, the property descriptions are not as accurate as they should be, so you might be looking at properties that are not as suitable as others. Trust your Realtor® and keep faith they will find the right place for you.

Here, I want to talk about loyalty. If you are spending time with a Realtor® and they are taking you to houses that are within your parameters, give them your loyalty. That means that if you go to an open house and the Realtor® at the open house asks if you are working with someone, say yes! If your Realtor® is not showing you what you are looking for, doesn’t return your calls or doesn’t seem to care, then find someone that does. Call me; I will set you up with someone that cares.

OK, this is pretty long, so tune in next time to find out what you need to do once you have found that perfect house (well, it will be after repairs). To understand more about the buying phase, read this article from one of my Realtor® partners, Lori Palermo.

One of the purposes that I wanted to achieve when we created Positive Real Estate Professionals was to locate the cream of the crop in each and every field of the Mortgage and Real Estate fields. We not only wanted to locate these professionals, but we wanted them to become vendors here on PREP. Typically in the process, we interview each and every vendor that comes our way. This way we can be sure that the vendors that we are recommending to you, the customer, will fit your needs.

About 2 months ago, I had a chance to sit down with Sandy Noll of Keller Williams Realty Kirkland. Sandy services all of your Real Estate needs for all of Snohomish and King Counties in Washington. If you are looking to buy or sell a home, this is definitely the gal that you want on your side. She told me that her motto is “Achieving YOUR goals is my #1 priority. Whether buying or selling YOU will receive only the best! Backed by the fastest growing real estate company in the nation, YOU will be provided with top notch service, honesty and integrity. YOU deserve to have an agent that works hard for YOU, so pick up the phone now to call me and let’s achieve YOUR goals!!!” and I believe it.

When I asked her if she had a niche, she answered with “No niche, love helping buyers and sellers, but I also have knowledge of the ins and outs of the foreclosure auction and short sales”. I think this is important due to the fact that she can help a variety of people that all have different needs.

Sandy brings the experience of a seasoned veteran with her. The trials and tribulations that she has endured over the years of being in her market definitely gives her an upper hand when it comes to her looking out for her customer’s needs today. I asked her why she has stuck with this industry for as long as she has. Her reply was “I love helping people make the decision of a lifetime and fulfilling the dream of home ownership. I actually listen to my client’s needs and no matter how long it takes, I stick with them until we’ve achieved THEIR goals!.”

In discussing the media today and all the negative news that they portray, Sandy stated “I would stop the media from only portraying the negative side of the real estate market. This is an EXCELLENT time to buy real estate. There is an abundance of inventory; interest rates are at historical lows with good terms.”

Sandy has a simple and solid business philosophy. She told me “ALWAYS treat the client with respect and honesty regardless of their situation. I try to educate my clients or potential clients on the market so they can make an educated decision no matter what they are trying to accomplish”. This is very important in any market, not just today’s.

In closing, I asked Sandy where she saw herself in the next 5 years. I was blown away when she said “Still doing what I love, helping buyers and sellers achieve their goals with regards to their real estate needs. Also would love to form a small team with my daughter”. Now, that is commitment.

Though the title may seem to frame the question in a negative manner, it becomes readily apparent that this is not a negative article. In fact the article is encouraging. It encourages real estate industry professionals to practice their chosen profession in a professional and ethical manner.

I appreciate that the article points out the role of the main stream media in ratcheting up the hyperbole. I also think it is to the credit of the general public that they take the time to educate themselves on the current market situation. To educate oneself that there are many bright spots to be had in a buyer’s market is empowering. Contrary to news reports, many lenders are continuing to write loans. What has changed is the guidelines. These changes are meant to ensure that when you have been qualified to buy your home, you really are qualified. The stricter guidelines will ultimately help home buyers to avoid foreclosure and maintain their home. There are Realtors who want to help you find that perfect home. There are loans available to help you finance it. This crisis has provided a buyer’s market, are you a buyer?

Via Danny Thornton:

It seems that every where that I turn people are asking the same question. “How bad will the current crisis get?” Well, I thought that everyone would like to hear the answer to that very important question. The answer is quite simple when you really think about it. But, I have to say, the answer came to me today when I was watching the 6 o’clock news. Yes, can you imagine that, I actually sat down and watched the news to listen to the doom and gloom. Well, not really. I wanted to see if there was one glimpse of some positive news. And boy, did I get a surprise.

I know, I know, get to the answer. All good things come to those that wait. So, patience my friends, I will give you the answer in just a second. Over the last few months, you have listened to me preach about fear factor and how to help the market strengthen. Well, actually, there is something else that we as business owners can do that will strengthen the market today.

The first and foremost thing that we have to accept is that not every potential client is a customer. Some you will lose and there is nothing that you can do about this. Some are going to be “tire kickers” and some are going to go “window shopping”. But, in the end, they are all truly “potential” clients. The next thing is, we can be on top of our game. If we are fresh and readily available, then that is half the battle. We have to know our market better than any other person that we compete against.

Now, to the answer. The current issues that are at hand will start to subside when consumer confidence starts to grow. When people begin to feel that their job stability is safe, they will again go back to spending. They WILL get there. It will not be tomorrow, it will not be next week, it will not be next month, and it might not even be next year. But, consumers will start to come around and get back into spending. The question is will you be ready for them when they are ready for you.

In the meantime, there is something that you can do. And this was the revelation that I learned tonight watching the news. You can have better CUSTOMER SERVICE than anyone around you. If you do this, you will gain more of the market share that your competitors. The biggest thing that you have to remember is that you are in control of your destiny in this crisis. You might not be able to control all that is around you, but be in control of what you can and you too will survive.