In spite of all of the Realtor ads, The HooK’s Annual Manual is one of the core ingredients in my relocation packages.1) Map2) Business Cards3) Annual Manual4) Market Data, etc.All the information is readily accessible on their excellent website, but sending out a tangible resource is invaluable. My wife came home yesterday with about 25 copies, bless her.
Browsing Category Buyers
Setting clients’ expectations is crucial
Preparing for the worst – knowing what the “worst” looks like and doing whatever is possible to avoid it – that is one of the key components of a successful Realtor. I’ve said many times before that mere MLS access is no longer a guarantee of success.Setting clients’ expectations at appropriate levels and preparing them for some of the “mights” is one of the most important aspects of a transaction – if you do this, then this will happen; if you don’t do this, then expect the other side to do this.My job is not to promise sunshine and happiness every day or that every transaction will be seamless (most of them are, to the clients’ eyes) – my job is to manage the transaction minutiae so that surprises are negligible factors – and this comes from experience.What would be worse as a buyer or seller – having the “worst” happen to you, or being surprised when the worst happens?
More on separating the commissions
Most likely, the buyers will have to educate the Realtors, and it might very well be a hard education for some….
New Disclaimer/Disclosure forms in Virginia
The main change is this text on the Residential Property Disclaimer Statement (PDF) (and the Disclosure as well, but those are rarely used in the Commonwealth of Virginia).The undersigned owner(s) represent that there are no pending enforcement actions pursuant to the Uniform Statewide Building Code (§36-97 et seq.) that affect the safe, decent, and sanitary living conditions of the real property described above of which the owner has been notified in writing by the locality or any pending violation of the local zoning ordinance which the violator has not abated or remedied under the zoning ordinance, within a time period set out in the written notice of violation from the locality or established by a court of competent jurisdiction, except as disclosed.The full bill is here, and even better, Richmond Sunlight highlights the changes. If you are buying or selling real estate in Virginia, you do have a choice as to which form – Disclosure or Disclaimer – that you may choose.Note: another set of Disclosures/Disclaimers will be arriving 1 January 2008.
“Family Friendly” Fair housing questions Realtors cannot answer
I wrote a story in March that discusses the same issues as the NYTimes story yesterday.
The strict interpretation of fair-housing laws prohibits brokers from providing information about people that could be construed as discriminatory in any of 14 protected categories. The categories include familiar ones like race, religion, sex and disabilities and less well-known ones like familial status, marital status, citizenship and occupation. (ed. note: I honestly had no idea “occupation” was a protected class)
So a broker who says something like, “There are tons of little kids in this building ” it’s really family friendly – could be accused of specifically steering families to the building and driving people without children away from it.
Personally, when my family was looking for a new home, we wanted to know whether there were any kids in the neighborhood (this was a good thing for us), so I understand clients’ needs and wants, but unfortunately cannot offer guidance in this area. (hint: look for balls, bikes, swings and other “kid-friendly” stuff) People looking for a house/a neighborhood have to do what we did: drive around the neighborhood, talk to home owners who live there. That said, I’ve heard the argument that when working as a Buyer-Broker, I should have the freedom and leeway to guide my clients as they direct. One side of me leans towards the latter interpretation, but the more paranoid part of me acknowledges that the possibility of being sued or losing my license is not worth the risk.
For all Charlottesville agents, buyers and sellers
When I look at MLS photos I want to see the front of the house, the kitchen, some pasture and a barn if there is one…. Unless it’s an award winning designer bathroom we really only need one shot but not in place of the kitchen.In Albemarle, Charlottesville, Fluvanna, Greene, Louisa and Nelson, there are 2,597 properties currently listed as “active” in the MLS. Of these:2140 – Have more than one photo391 – Have only one photo67 – Have no photos at allFrom my perspective, it sure seems that there are more properties with only one photos or terrible photos…. For those of you buying or selling in the Charlottesville/Central Virginia area – do you have any advice for those marketing properties that you want to share?
All the agents wanted my business!
Many of my clients are sounding boards for my ideas, mini-focus groups if you will. The following is a snip from a conversation I had this morning with one of my favorite clients.Me: Did you know about buyer’s agency before we started working together?A: No.Q: What did you do when you wanted to see a house?A: I’d call the agent and ask if I could see it.Q: Did any of them explain agency to you?A: Sure!… (buh-dum-bum)What is a Buyer-Broker?Being Selective (sample Buyer Agency Agreement – pdf)Competent representation is more crucial than ever, particularly in this market. I am working on a horror story now about the consequences of not having representation.