Big Smiley Faces
Are not particularly good at defining quality or excellent service. If your specific tastes run with how an agent is packaged, then I suppose, a big smiley face is an important aspect of choosing a real estate representative.
Big Smiley Faces
Are not indicative of substance. It is not difficult, nor does it require any real estate knowledge to sit for a fashion photograph. Gleaming white teeth and perfectly matched accessories don’t mean you, the client or customer, achieves excellent pricing for the property being purchased or sold.
Big Smiley Faces
Are not necessarily stylish or graceful in person. Calmness in the face of challenge, negotiating skill, rational thinking, and research based on analysis are some factors that actually DO translate to credible service for your commission dollar.
Big Smiley Faces
Work well for used car salesman some of the time. Shiny gold colored cuff links, monogrammed shirts, and paisley ties certainly do have their place in the business world; but do you want this sort of representative when you are buying or selling a top asset?
Big Smiley Faces
Are often displayed in other ways besides good looks or lack thereof. Hiding behind paperwork, making up answers without having the real answer, hesitating too long when a direct question is asked, and ignoring your requirements often go hand in glove with the grand smile approach.
Big Smiley Faces
Indicate, at least to me, that the advertiser is more concerned with themselves and how they look than they are with how best to represent your interests. Those who know this business are not likely to brag. I keep my personal and intimate life off the Internet—regardless of the social networking milieu that’s the current social idiom. Big, splashy presentments are usually lies covering up truthful representation.
Big Smiley Faces
For some reason, have become part of traditional real estate web design. I don’t know why. Being beautiful, having brilliantly white teeth, perfect accessories, sturdy face with just enough ruggedness to portray the manly approach are fine. These attributes, however, should not be the main focus. Mr. Clinton, then vying for the presidency used: It’s the customer and client stupid, not you, who is important." Well- I did take just a bit of poetic license to adjust the slogan.
And--I am going to remove my photo soon--promise!
Thursday, August 5, 2010
Tuesday, August 3, 2010
What you need to put a deal together
What you need to put a deal together
Conceptually, buying and selling property is no different than buying or selling any other commodity. Basically--a product, buyer, and seller define the process. Why then does it seem difficult, especially in current climate, to bring a fair deal to the table?
Kick these around and see if they ring true for you.
1) Lenders are not being especially cooperative or efficient: If the former rule of thumb was to lend to almost anyone, the current climate now often denies individuals who are credit worthy.
Where no documentation was required, the lending institutions now require several paper mountains to accumulate and be reviewed by over worked underwriters. My recent dealings with lenders demonstrates a lack of motivation to lend.
(Side note on single and double wide manufactured homes: In our rural area, single and double wides abound. Single wide mobiles are totally off the table. If a client can't buy for cash, they are out of luck. Double wides are extremely difficult to get through. The interest rates are 1.5 to 2 points higher for funding than conventional loans. Additionally, loan terms are generally a maximum of 20 years. Lenders often require 30 or more percent down. Although some financing programs still do exist (FHA)the stringent requirements, soon to be even more stringent, disallow our working populace the pleasure of owning a home.)
2) In my home market of Sullivan County, NY, sellers still remain somewhat unrealistic in their expectations. New listing prices are often not supported by current market conditions.
3) Buyers, knowing it is indeed their market, are lowballing offers that simply don't make the grade. It is one thing to offer a certain percentage below realistic pricing, say even 20 percent for starters; it is quite another to slash a well documented price tag by 50 percent. Recent data in our county suggests that 12% percent below adjusted asking prices (prices revised downward from original listing price) are the number at which most consummated deals are made.
4) Our economy is not conducive to buying homes. Home inventory is quite high and serious buyers are scant. Prices may yet fall further. What are the incentives to move quickly on a purchase?
5) Appraisers seem afraid of using the higher comparables available for analysis. Experience in my home market demonstrates that deals fall through based on properties not apprising out--a mortgage killer in many circumstances.
Although many other factors are involved in real estate transactions, the points discussed here are more than enough to make seasoned veterans bite their nails.
Conceptually, buying and selling property is no different than buying or selling any other commodity. Basically--a product, buyer, and seller define the process. Why then does it seem difficult, especially in current climate, to bring a fair deal to the table?
Kick these around and see if they ring true for you.
1) Lenders are not being especially cooperative or efficient: If the former rule of thumb was to lend to almost anyone, the current climate now often denies individuals who are credit worthy.
Where no documentation was required, the lending institutions now require several paper mountains to accumulate and be reviewed by over worked underwriters. My recent dealings with lenders demonstrates a lack of motivation to lend.
(Side note on single and double wide manufactured homes: In our rural area, single and double wides abound. Single wide mobiles are totally off the table. If a client can't buy for cash, they are out of luck. Double wides are extremely difficult to get through. The interest rates are 1.5 to 2 points higher for funding than conventional loans. Additionally, loan terms are generally a maximum of 20 years. Lenders often require 30 or more percent down. Although some financing programs still do exist (FHA)the stringent requirements, soon to be even more stringent, disallow our working populace the pleasure of owning a home.)
2) In my home market of Sullivan County, NY, sellers still remain somewhat unrealistic in their expectations. New listing prices are often not supported by current market conditions.
3) Buyers, knowing it is indeed their market, are lowballing offers that simply don't make the grade. It is one thing to offer a certain percentage below realistic pricing, say even 20 percent for starters; it is quite another to slash a well documented price tag by 50 percent. Recent data in our county suggests that 12% percent below adjusted asking prices (prices revised downward from original listing price) are the number at which most consummated deals are made.
4) Our economy is not conducive to buying homes. Home inventory is quite high and serious buyers are scant. Prices may yet fall further. What are the incentives to move quickly on a purchase?
5) Appraisers seem afraid of using the higher comparables available for analysis. Experience in my home market demonstrates that deals fall through based on properties not apprising out--a mortgage killer in many circumstances.
Although many other factors are involved in real estate transactions, the points discussed here are more than enough to make seasoned veterans bite their nails.
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