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I found this on Ines’ Blog. These were just too funny not to share. More here
[photopress:We_20Hate_20Truth.jpg,thumb,alignright]As soon as it becomes apparent that my Buyer Client is interested in making an offer on a property, the first thing I do (usually within seconds) is call the Listing Agent.
While I always do this, what I say to that agent is not always the same.
Many people think the conversation should go like this: Buyer’s Agent asks direct questions like, “Hi, I am getting ready to write an offer on your listing at 123 This Street, do you have any other offers?” That is really, in my opinion, the worst way to handle the situation. It kind of falls into the category of “Ask me no questions; I’ll tell you no lies.” I wish I had a nickel for every new agent who thought the Listing Agent SAID there was another offer, when that is NOT what the listing agent said at all.
In fact, the biggest mistake newer agents make, is thinking that the Listing Agent is being helpful HA! Give me a break! AS IF!
Sometimes I’m a Listing Agent, myself. I’m not saying Listing Agents lie anymore than Buyer’s Agents lie. But clearly the truth is “worked”. I admire a good Listing Agent who “works his truth”. You have to have a trained ear. Somewhat like a musician who can hear when his guitar needs tuning, or a voice coach who can pick up a flat note. Actually most agents are terrible liars, and I’ve called a few bluffs in my time with great success. But rather than go in that direction in the first place, better to shift the focus entirely from the getgo.
There’s always a better way, and generally that better way leads to getting the Listing Agent to spill his guts, without your revealing a thing about your client’s intentions. Of course it depends on how experienced and sharp the listing agent is, and whether you are catching them at the right moment. By calling immediately, within seconds of knowing my buyer client MAY be making an offer, I can get info without telling any lies.
I pick up the phone and say, “Hi Joe, I’m IN your listing at 123 This Street…” Most agents call BEFORE they show the property and ask, “Is your listing still available?” How annoying is that?! It’s like saying, “Hi, I want to make sure I’m not working too hard for nothing, can you help me with that?” By calling from INSIDE the property, and saying that in the first 3-7 words, the agent knows you aren’t one of those “wasting-his-time-checking-availability” agents.
If agents knew how their words and actions affect their clients, they would all be taking “How to Say IT” lessons”…oh forgot…no class on that one. But plenty of classes on Feng Shui…how FUN! 🙁
Ok, so you’ve got the listing agent on the phone, and the goal is to keep him on the phone as long as you can, talking about crap. “Joe, is there a Form 17 Online?” or “Joe, I was just wondering, since the house is vacant, if the owners need more than the average time to respond to offers?” or “Joe, I’m here in your listing at 123 This Street with my Buyer Clients and they asked if the new roof, noted in the listing, is a 25 year shingle or a 30 year shingle. Can you check that for them, and get back to me on that?” (the ending of that last question is very important. Don’t expect the Lisiting Agent to know that off the top of his head. You don’t want him to feel stupid or you set the wrong tone. Counter-productive.)
The Listing Agent will usually answer your question and ask “Are you writing an offer?” By having called within seconds of your Buyer Client being “maybe” interested, and not waiting until you are actually talking with your buyer client about writing an offer, you can honestly say: “I MIGHT be writing an offer, not sure yet. They are definitely interested, but we’re still going through the house.” At this point the Listing Agent usually starts spilling his guts.
How the Listing Agent does that takes many, many forms. The goal is to get them talking. Usually you do not ever have to ask if there is another offer. If there really IS another offer, the agent would likely have said it already. Those that spill their guts for 20 minutes, and THEN try to throw in at the end of the conversation, some vague reference to “maybe another offer coming”, are actually funny. They kind of sound like the two year old, looking up at Mommy with their hand in the cookie jar, trying to convince Mommy that they really weren’t going to EAT the cookie 🙂
I absolutely will tell a Buyer’s Agent the TRUTH when I am the Listing Agent. But most times I can “work” that truth in a way that leads the Buyer’s Agent to believe there might be another offer. I can’t tell you exactly how that’s done, or I won’t be able to ever do it again 🙂 But I do not lie, ever, and most times the Buyer’s Agent erroneously tells their buyer client that I said there was another offer, when I did NOT say that at all.
Again, if I had a nickel for every time I heard a new agent say, “The Listing Agent SAID there was another offer” when the listing agent NEVER said that… What the new agent is doing is thinking more about getting paid, than about their client’s best interests. They are listening to the Listing Agent for signs of what they should do next, like maybe write an offer for MORE than they otherwise would have. And that is exactly what the Listing Agent wanted them to hear.
[photopress:Seattle.jpg,full,alignright]Stephen Jagger of Ubertor gave me a “heads up” this morning about an article written in Vancouver Magazine.
Sometimes you learn more about your own City by reading the reviews and travel guides of its visitors vs. its residents.
Some of the facts in the article that I found interesting:
Hot Neighborhoods: Seattle’s Pioneer Square – Vancouver’s Gastown are both “troubled historic neighborhoods by the port”.
[photopress:bim.jpg,thumb,alignleft]Hole in the wall burrito Joints: Seattle’s Bimbos Bitchin’ Burrito Kitchen – Vancouver’s Budgies Burritos (location and phone number in Vancouver Mag’s Article)
Mayor’s “GREEN” Record – Seattle’s Nickels nationally recognized for taking Seattle “green” and adopting the Kyoto protocol while Vancouver’s Sam Sullivan “wants his new ecodensity intitiative to be nationally recognized”.
Seattle invented the term: “Skid Road” – Vancouver invented the word “Skid Row” (Actually I had heard San Francisco invented the term “Skid Row” – My partner says Seattle invented “Skid Row” – Google says My partner is correct, but I’d let Vancouver have that one.)
Date downtown burned to the ground: Seattle 6/6/1889 – Vancouver 6/13/1886
I’m wondering how many large cities burned to the ground? I don’t think Philadelphia ever did, because The Betsy Ross House is still standing (note to Bubble People – Betsy Ross was “a renter” in case you are compiling a list of “famous renters throughout history 🙂 ) and so is Independence Hall as well as The World’s First Penitentiary attributed to Benjamin Franlin’s idea. For anyone interested in REALLY OLD buildings, this virtual tour of Historic Philadelphia is very cool.
Voter turnout last civic election: Seattle – 30% Vancouver – 32.4%
Median age: Seattle – 30 Vancouver – 38 (average age here in Kirkland is 30-something too. Where do the older people live?)
Seattle is the “fittest” City in the U.S. – Vancouver is the “fittest City in Canada (based on the percentage of the population considered to be overweight) I’m sure there is some City in CA that is going to dispute that one.
Trevor Boddy, Vancouver Magazine’s author of the article titled “The New Seattle” (from which the above photo was derived “Old and New: Seattle’s iconic Space Needle and Alexander Calder’s Eagle, one of the installations at the new Olympic Sculpture Park.Image credit: Rosemary Poole”) has this to say:
“Vancouver and Seattle are Siamese twins. Yet we are fused not at the head, but at the back – looking in different directions. ” This is just one of several posts in Vancouver Magazine’s “Seattle Series”. I highly recommend a read of the entire series.
THE SEATTLE SERIES:
36 Hours in Seattle: Where to eat, drink, shop and sightsee.
Bed Check: Reviews of three very different Seattle hotels.
Culture Crawl: Our ranking of Seattle’s independent coffeehouses, and listings of the best local books and music acts.
The New Seattle: What Vancouver can learn from its Pacific sister.
A Tale of Two Cities: Which city’s wealthier? Safer? Healthier? Seattle and Vancouver by the numbers.
I’m not certain all of the facts about Seattle and Vancouver are true – but it is a fun read. A Big Thank You to Stephen of Ubertor for the email and “head’s up”.
My favorite Vancouver Magazine article is Playing the Real Estate Game and I hope to write a “sister article” based on that one, comparing the Seattle Real Estate Market to Vancouver’s by week end.
Zillow.com Launches Home Q&A
“Ask Questions, Share Answers
Inman News announced this morning, that the industry is being asked to consider and support the following “Real Estate Consumer Bill of Rights”.
1. Choose the services you pay for: Laws in more than a dozen states forbid brokers from refunding commissions to you, or require brokers to provide services you may not want to pay for. These laws protect the industry, not the consumer.
2. Know how your agent makes his money: In real estate, the seller pays both his own agent and the buyer’s agent a percentage of the sale; the agent earns more when his client pays more. If a house seems difficult to sell, the seller may even offer buyers’ agents an especially high percentage. Buyers’ agents should be required to explain to their clients how they are paid.
3. Know when you are committed to an agent: Often just showing a property entitles an agent to the commission for representing you, regardless of whether you intended to work with someone else or even preferred to represent yourself. The relationship between an agent and a consumer should always be explicit, so that both parties know when they’re committed to one another.
4. Know what services your agent will provide: Much of the work of a buyer’s agent begins after the buyer has agreed to buy a house. This work includes coordinating inspections, repairs, mortgages, title reviews and escrow services. But agents today are paid only to bring a buyer to a transaction. Once that happens, it is virtually impossible to fire your agent. In most cases, this is appropriate, as the agent who puts a deal together deserves the commission. But in becoming committed to an agent, you should know what services the agent will provide as part of that commitment and what recourse you have if the agent doesn’t perform those services. An open agreement between you and the agent protects the agent from being unfairly dismissed, and ensures you get the service you expect through closing.
5. Have an agent that represents only your interests: Most states allow an agent to represent the buyer and seller in one transaction, and get both sides of a commission. As a result, some sellers’ agents are on the prowl for unrepresented buyers to bring to the seller. It’s a solicitation neither side can easily refuse because the seller wants the buyer and the buyer wants the house. But an agent can’t fairly represent the interests of two parties to the same transaction. An agent should represent only one party, and take commissions for only one party.
6. Know the commission refund you can get before you buy a house: Depending on the service provided by the buyer’s agent, some sellers vary the commission offered to buyers’ agents. This flexibility is good in theory, but in practice it’s often used to thwart commission refunds: buyers expecting a refund of $10,000 or more from their agent discover on making an offer that the amount has been radically reduced in favor of the seller’s agent. Buyers should know in advance what circumstances let the seller’s agent keep more of a commission for himself. It’s fine to change the price but not at the cash register.
7. See all the houses for sale: Many of the multiple listing services set up to share listings between brokerages forbid participating websites from displaying for-sale-by-owner houses alongside broker-listed houses. As a result, home buyers usually don’t see all the houses for sale, and home sellers have to hire brokers just to get their house on mainstream sites. MLSs should not require exclusive display of listings.
8. Have an open discussion about a house for sale: On the web, you can openly discuss almost any product for sale except a house. That’s because sellers’ agents “own the listing,” controlling where and how it’s posted for their benefit. The rules of some MLSs discourage real estate websites from publishing independent reviews and preclude owners from distributing MLS marketing materials outside MLS-sanctioned websites. Once a house is for sale, everyone in the market should be able to discuss it.
9. See all the information available about a house for sale: Many MLSs make it difficult for buyers to see recent past sales data, how long a house has been for sale, or whether its price has been reduced. Once a house is for sale, you should be able to see all the information available about it on your own, without becoming anyone’s client. The only exception to this rule is information whose publication jeopardizes the seller’s safety, such as when the presence of children precludes a showing.
10. Be sure your agent will show your house to everyone: Some sellers’ agents selectively refuse to show houses to a buyer represented by an alternative brokerage, which hurts the seller and the buyer. If, as part of his service, a seller’s agent doesn’t show houses to all buyers, the seller should know it, and the buyer should be able to contact the seller directly. When agents don’t facilitate showing a house, they should at least stand aside and let buyers see the house on their own.
Greg Swann of BloodHoundBlog in Arizona, Kevin Boer of 3 Oceans in the CA Bay Area, Kris Berg and I were contacted by Glenn Kelman of Redfin prior to the Inman anouncement and asked to support The Consumer Bill of Rights on Redfin’s site. The email we received is posted in Greg’s article today.
There are portions of the Bill of Rights that appeared contradictory, and a bit self serving of Redfin, such as:
#5 which preclude’s the buyer consumer’s right to represent themself with NO agent, while still holding the listing agent somewhat accountable.
From what I’ve seen in the marketplace, there are many buyers who want the same advantage as a For Sale By Owner. They want the right to be totally commission free, and represent themselves without an agent at all. I don’t see that right highlighted adequately in this Redfin penned “Consumer Bill of Rights”. I have provided this option free of charge to buyers this year on a couple of occasions, and so know it is an option that is possible for buyer consumers. Clearly omitting this option is an error that needs to be corrected by Redfin before I would jump on this bandwagon of supposed “consumer rights”.
#4 which suggest that assisting the buyer consumer with property selection, and giving advices regarding properties with inherent market weaknesses BEFORE an offer is made, is of no never mind, since they don’t do that.
#8 seems to forget that the Seller is a “consumer” as well, and so maybe this “Consumer Bill of Rights” should say “Buyer Consumer’s Bill of Rights” and we should counter balance with a “Seller Consumer’s Bill of Rights“. I may just have to pen that one myself, showing that Seller’s have the right for the buyer to be fully and well represented, to protect the seller from after-sale consequences of the buyer being inadequately advised and represented by the buyer’s agent”.
I’m heading over to Greg and Kevin’s sites to comment on their take on this. In the meantime, enjoy the “breaking news”. I expect most of the major brokerages will simply choose to ignore it, hoping it will just “go away”.
[photopress:Blog_Cola.gif,thumb,alignright] Searching for answers to your Real Estate Questions? Here are a few tips to make finding answers a little easier and more productive.
Try to read blogs that are written by real estate professionals who are licensed in your State, or at least in an area with similar agency laws. Instead of Googling all night to find a blog what just happens to go into detail about the topic you want to know more about, find Real Estate Blogs That Answer Questions. Ask a direct question in the comments section of several blogs, and remember to bookmark them to go back and retrieve the answers.
Of course here at Rain City Guide, rarely does a question go unanswered. We are very attentive to comments and try to answer questions best we can. Unfortunately, Real Estate is one of the few professional arenas that does not permit getting second opinions. If your doctor wants to cut something off or out of you, you get to go get a second opinion from another doctor. But Realtors, by their Code of Ethics, are not permitted to give advices if you are the client of another Realtor. So if you ask a question like: “My agent told me this, but I want your opinion”, there’s a strong possibility that the Blogger will not be able to contradict the advices of your agent.
That being said, let’s find some Real Estate Blogs, besides Rain City Guide, that answer real estate questions. If you are in New York City, it is very difficult for you to get info from blogs that are not written by agents who operate there, because NYC is unto itself regarding the rules of play in real estate. Mainly because the contracts and closings are attorney based, they have no MLS system AND they don’t have Buyer Agency. So for New Yorkers, Best Real Estate Blog that answers questions is: Noah Rosenblatt’s Urban Digs (he even has a live chat feature). Curbed is a popular NYC site, but it looks like your questions will be answered by other readers, for the most part. Christine Forgione’s NYHouses4Sale doesn’t seem to get many questions, but I’m pretty sure she’d answer them if she did. So give her a try.
Where are the California Blogs that talk back? You’ve got Kris and Steve Berg down in San Diego. You’ve got Kevin Boer in the Bay Area You would think with a State as big as California, you would have a slew of good blogs. I see a few people blogging away, but they are just blogging at you like a flashing billboard. Luring the search engines and not allowing comments, or just plain old selling and not providing real info. Oh well. Maybe someone out there has some suggestions that will show up in the comments.
Of course Arizona is just crawling with blog talent. You’ve got BloodhoundBlog where you can pick who you want advices from, but if it’s Arizona real estate you want to talk about, I’d be asking Cathleen. Todd Tarson is so up front and out there, he’d probably tell you what color underwear he has on if you asked him. If I had real questions about real estate in Mohave County, Arizona I’d be talking to Todd on his blog.
Charles Turner’s doing a decent job over in Portland. When he gets a comment, he answers honestly and openly. Teresa Boardman’s blog in St. Paul Minnesota is good, but the comments seem to be a bunch of agents talking to agents, and not much from consumers. If you are buying or selling real estate in St. Paul, try asking off topic questions on any of Teresa’s posts. I’m sure you’d get a good answer. Here’s a great blog of bloggers talking to other bloggers. Who is Tom? What does Tom do? I’m stretching a bit with Francis Flynn Thorsen’s Realty Gram, but throw some questions at her and I think the answers would come.
In fact, if you are in a state where there are real estate blogs that aren’t answering consumer issues and questions, I strongly encourage you to just start asking those questions. You can help develop more Real Estate Blogs That Answer Questions, simply by ASKING some questions on any blog that you can find. Maybe they will get the point that “Enquiring Minds Want to Know”.
[photopress:tomk.gif,thumb,alignright]Real Estate Today – This award-winning show focuses on the nuts and bolts of real estate. This call-in program is hosted by nationally syndicated writer Tom Kelly. This week’s topic is Real Estate Blogs with Tom Kelly and ARDELL.
“Real Estate Today
[photopress:425cover.jpg,full,alignright] I picked up a copy of this magazine and it seems to be more ads than info, but then so is Vogue and In Style.
Not exactly new news, as it appears this publication launched back in November. But my sources tell me that people are streaming into Borders in Redmond looking for it, so here’s the online version via the link. I got my copy at the 7 Eleven at 6th and Central/85th in Kirkland, if anyone’s looking for it.
Spring 2007 Edition says “2nd printing”. Anyone know where I can get the first one?
I view trends more from the standpoint of how people who are buying homes view the trends, moreso than how people who actually live in their homes view them.
“The carpet that “has become extremely popular of the last few years is the Textured or Frieze style. It is also referred to as the ‘trackless’ or ‘no foot print’ style. This style is very good at hiding traffic and doesn’t show vacuum lines. A Frieze is a lot like the Textured style except that the twist is much heaver with the Frieze. A good quality Frieze styled carpet can be one of the most durable styles you can buy and holds up extremely well under heavy traffic.”
[photopress:textured_1_2.jpg,full,alignright]I took the quoted language from a carpet site, to show the difference between Texured and Frieze. They look about the same to me. One thing I have noticed is that on bare feet, some feel terrible and stiff and others feel great. You may want to give it a bare foot test both on the carpet sample at the store and then again when the carpet arrives before it is installed. One of the advantages of viewing homes with bare feet and slip on shoes. Doesn’t look as professional I guess, but I pick up a lot more imperfections in the flooring with bare feet.
Along with this trend comes darker carpet colors in sage green and brown tones, or at least a darker beige. No more black dirt borders around the edges. I for one am happy with this trend, but remember to keep the walls light if you are going with darker carpet. You can still use sage green paint with a darker sage carpet, but keep it light with only an accent wall in the darker color and the rest of the room in a lighter version. I find adding white paint to the darker one keeps the same color tone, better than playing with all the paint chips trying to match the light with the dark. From what I’ve seen in some homes, not everyone has a “good eye” for matching tone, so adding white cuts down on the error factor.
Hardwood floors are more popular than ever. People talk more about bamboo for the “green” factor, but I SEE more wood than bamboo. Newer townhomes are using a lot of Brazilian Cherry, shifting from narrow plank to wide plank recently, and in the darker version. I’m looking at the thicker version myself, but the thinner pre-finished version, that can only be refinished lightly once or twice, is what I see most in newer townhomes in Seattle.
My favorite subject is knobs! and handles. And here we see a big change. Nothing changes the look of a kitchen and bath more cheaply than changing out the cabinet hardware.
If you have these white ceramic knobs,[photopress:white_knob.jpg,full,alignleft]
a quick change out to brushed nickel or stainless knobs [photopress:kn.jpg,full,alignright]does the trick.
I just sold a condo with the white knobs, and will probably give him all of my brushed nickel knobs, because while I was looking at knobs for this article, I found this great one!! [photopress:glass_knob.jpg,full,alignleft] Anyone who has been to my house will know why 🙂
But the really big news is in the two hole pull vs. the knob.Anyone who has anything that looks like this: [photopress:out.jpg,full,alignright] in gold or brass or even in brushed nickel,
there is a big change to this round extended bar style, either in stainless steel or brushed nickel [photopress:in.jpg,full,alignright]
[photopress:rz.jpg,thumb,alignright] I usually don’t “lift” things from Inman, but I’m still running into people who haven’t heard this one.
“Prudential Real Estate…barred two of the biggest names in online real estate — Trulia and Zillow — from exhibiting at the company’s annual convention in San Diego this week. Both companies had booked booths at the show and flew executives to Southern California to rub elbows with Prudential brokers, only to be told at the last minute they were not welcome. Trulia co-founder Sami Inkinen said that 20 minutes before the company’s exhibit booth was scheduled to open, Russell Capper — president of Prudential’s e-commerce subsidiary, Prudential Real Estate Services Co. — told the company to “pack up and leave immediately.”
Sellsius had the breaking news and was seeking more info. Paul Chaney shows the Trulia booth “shrouded in black”. Some think Trulia handled it a little TOO gracefully. This article doesn’t say much more on the subject, but I loved the tagline “Not Very Prudent, Prudential”. This blog post looks like a total cut and paste of the original Inman Article and/or blog article.
I’m not buying the whole Yahoo reasoning. Twenty minutes before show time? Booted out? Sounds like a shoot from the hip emotional disturbance to me.
