The Good Old Days ? Maybe

It's snowy here in the great Northeast and I am sitting at my desk trying to resist going off on a rant and sounding like an crazy old man...

Too late! Can't stand it any more. It's Crazy Old Man time!

When I started in the real estate business in 1982 I am not going to say there weren't computers, but essentially there weren't computers. I mean they were out there, but first they were pretty difficult to operate (anyone remember MS DOS?) and they were not being used in the real estate business.

I'm not here to say that computers are bad, because honestly... I LOVE 'em! You should too... they're here to stay you know! They really have simplified our lives. Put incredible amounts of information (and misinformation) at our disposal. And communication?!!! Revolutionized how easily we can get our messages out. So for the most part ... good.

But let me zero in on a dynamic that you, outside the real estate business especially, may not be aware of. Like I said, I started as a Realtor in 1982. Our database for houses for sale was the Capital Region Multiple Listing Service (CRMLS). It came in the form of a BOOK. Published weekly, but every other week was only the "new" listings... the other week was the complete inventory. There was a thing called the "Hot Sheet" which was mailed weekly to every broker who was a member of the CRMLS. And if you were truly ambitious you could physically visit the CRMLS offices and check out the new listings that had just been submitted. (They had them on clipboards in the vestibule... one clipboard for each day). So if you had a buyer that you wanted to get the "hottest" info for you needed to go down to the offices. I can tell you that there were never many agents there when I went...

Oh, but I said I was going to zero in on something. And that something was how we presented our offers. I am not going to give you a historical lesson on the agency part of this because it's too lengthy. But here's what would happen.

After my buyers left my office, having signed a purchase offer I would call the agent who had the house listed. This was usually done on a "land line". So we would have to catch them at the office or their home. I would tell the agent that I have an offer and I would like to present it as soon as possible.

You know what happened next? They would ask me when I would like to present it. For example I would say, "How about tomorrow morning at 10 am?" They would tell me they'll get back to me. Usually within a few minutes the phone would ring and the agent would say something like this, "My sellers can meet you at their house at 11 am... Is that OK with you?" I, of course would say yes.

Here's what I think has changed and not for the better. I would go to their house. I would be welcomed in by their agent and we would go into, say, the kitchen and sit down. The listing agent would introduce me and we would exchange pleasantries. I would tell them what a cool house they had... didn't your kid go to Guilderland High?... Wow can you believe how hot it's been.... Then we would settle in and start talking turkey.

But guess what was going on here? From my side of the table, I was gathering information, observing mannerism, looking into their eyes, FEELING the transaction. I was helping the listing agent to feel at ease. I was trying to project confidence so that the sellers would feel that this set of buyers and their agent could get this done.

And even before the paperwork got put on the table, I spent some time describing my buyers and their family. I painted a picture of this new owner lovingly caring for their home just like they did. I talked about where they came from and what they do for a living. I made the buyers real to them. In fact I usually got the sellers to like the buyers.

So now the rubber meets the road.

I present the offer as the listing agent listens in... all the while reading body language... facial expressions... looking into their eyes... gathering unwritten and intangible information. To help me better understand the sellers and to help me do a better job representing the buyers.

After I go through the presentation, I sit back and LISTEN... and observe. Sometimes a listing agent will ask me to give them a couple of moments so they can speak freely... but often the discussion takes place right away with me present.

If we have differences... prices... dates... chattle... whatever, I ask them to help me to understand the difference(s), so that I can communicate it properly to my buyers. I take notes... so they see that I am going to get it right and I am organized. Building confidence. But really what I am trying to do is to verify and overcome objections. "So if it weren't for the closing date being too soon, am I to understand that you would feel comfortable signing this agreement today?" or "If I could convince my buyers to move that date to accomodate your schedule, can we say we have a deal?"

9 times out of 10 we could come to an agreement right then and there. And the sellers would feel pretty good about who's buying their home and their agent that is overseeing the process.

What I'm talking about here is interpersonal relationships. Communication skills. Negotiating skills. Psychology.

You know what happens today? The listing agent tells us "Fax the offer over to me". I'd really like to present it in person. "No... just fax it and I'll present it."

You know what? I think, that if we would discuss more of these things in person... we'd sell a lot more houses. What do you think?

Like I said... I am not against computers and faxes and modern technology... I just think we could still utilize the human element to get it done.

How to market your real estate in a tough market

Our marketing efforts often vary from account to account. Certainly the most crucial, we feel is the presence in the MLS (Multiple Listing Service). This data base will engage the over 3000 real estate agents in the Capital Region. It’s where we all look first to find properties for our buyer clients.

Times have changed our approach in advertising with the advent of the internet… and more importantly the internet being so available to so many. While we do advertise in newspapers and some of the Homes magazines we are finding that the overwhelming majority of our buyers are surfing the web. We are very proud of our database www.realtyusa.com This site gets over 180,000 unique visitors a month according to our IT people. The way our site is set up, a procedure occurs every early morning whereas our site visits the MLS database and imports all the new entries and any changes that may have occurred. This constant updating has made our site a favorite with savvy buyers who check in regularly.

To supplement our efforts we of course engage direct mail marketing .. neighborhood announcement… open houses… virtual tours, etc.

The interesting phenomenon that we are watching take place is the fact that more and more people are visiting your house without visiting your house! Before this technology was available the only way we could know what a house looked like on the inside was to actually, physically, visit it! This new luxury of being able to look at still interior photos or virtual tours without leaving our desk chair or comfy apartment is good and bad. It’s good because we feel it saves us time. It’s bad because sometimes the pictures don’t do the subject property justice. Maybe the agent didn’t get as good a pic as they could have or maybe the property is just hard to get pics… whatever the reason is a web-surfer may glance at the pics and dismiss the idea of actually going in. I have had clients visit a property after having more or less pooh-poohed it on line and expressed amazement that it “looks way better in person!”. By the same token, we have looked at pics on line and decided to visit the property and we look at each other and say “Is the right house????”

Another resource a good Realtor uses is to do the research to see who in the real estate business is active in your area and make direct contact with them to promote the property.

The trick to marketing real estate these days is to have a well-rounded and open approach. One of my agents stopped in the office today and told me he sold a house in the far reaches of the Capital Region because he advertised in the local Pennysaver! He was amazed at the response he got from that little ad, but as it turns out EVERYone in that town reads the Pennysaver!

So count on us to take an approach to marketing your real estate in an account by account way. Each and every account will warrant a unique approach... count on it!

"I Only Work With The Listing Agent"

Frequently we get a phone inquiry at our real estate office where the caller is insistent on speaking only to the listing agent. In that instance there is no discussion. The call will go directly to the listing agent... no questions asked.

But, often, we are having a discussion at an open house, or maybe just a casual chat at a bar or a on a park bench and we will hear someone say, "Yeah, I've been looking for a house for quite a while, and when I see one I like I call on it." Our agent will offer, "Would you like me to help you with your search?"... ""No... I just call the listing agent. I'd rather work with the listing agent."

Depending on the circumstances this is where a "buyer" could use a little educating and help in the Common Sense Department. Quite often we find that the buyer doesn't really fully understand the fiduciary relationships and how working "only with the listing agent" can be a recipe for financial loss.

Simply.... Keep this in mind. When a real estate agent lists a house for sale, who are they working for? You should already know this, but the answer is THE SELLER. So when you are chatting and inquiring and musing about buying that house what do you suppose the LISTING agent is doing? Working for the seller! Not you. the seller! They are gathering information.. they are plotting ways to SELL you the house. They are scheming as to how they can get you to pay the highest amount of money and the best terms for their client... the SELLER. they are working against you.

OK... I know what you are thinking. The listing agent says to you, "I know these guys (the sellers) pretty well, and they'll listen to me. I think I can get them to cooperate with you... work with me and we'll get this done." And that all sounds good. But think about this. Is that the kind of agent tat you want to work with? The kind that told you when they listed their property that they would be loyal to your best interests and get you as much money as possible with the best possible terms.... and then they turn around and say this sort of thing to someone they just met??? I don't think so.

So here is my suggestion. Find a Realtor who you connect with. Insist on them representing you. Actually you won't have to insist on it... they will already be geared up to do just that if they are worth their salt. They won't sell you you a house. they won't SELL you a house.

They'll help you BUY a house. With good counsel and no other person's best interest even close to yours!

Happy house hunting! I hope you are in your new home in 2011!!!

Sorry about that....

It has been a while since I wrote in here. Actually my Dad reads this and he commented on that. I have been very involved with summer type stuff ranging from real estate to family to rock and roll to recreation! But A lot of stuff has been going on in real estate so I think I'll ramp it up soon and put my thoughts out there.

In the meantime, think about mortgage rates right now... Do you think they'll get lower ? Really?

And the economy.... can it get worse... better... where is it going.

Let's talk!

Buy A House That's NOT for sale!

So, you've looked and you've looked, and you've looked. Your agent is great. Stays in touch and keeps feeding you leads. But nothing seems to do the trick.

If your agent hasn't already done it let's start thinking about buying a house that ISN'T for sale.

That's right. ISN'T for sale.

What is the harm with approaching the owners of a house that is not on the market and suggesting that if they ever gave any thought to selling their home maybe we have a buyer? I tell you I've done it. And more often than not I have gotten no response. And on occasion I've been more or less told to take a hike.

That's probably why you don't want to "cold call" homeowners and it's also why you should put this project in the lap of your agent... But if you can I.D. a couple of houses that you think you might be interested, your agent can "go to work" !

Your agent will know the way to put together a pitch that will illicit a response... say and explain the right things, so as to pique their interest, and hopefully describe your dilemma and situation to get you an opportunity.

You know what's good about this? You aren't in competition with other buyers. It's a quiet and less stressful sequence of discussions and meetings.

It will never be a "slam dunk". Who knows if it will work. But, hey.... you'll never know unless you try.

What Do You Want ?

What is it you REALLY want from your agent ? You want them to sell the house, right? Or find you the best deal there is around, as the case may be! Right?

Now, if you think for one moment your agent is not all about that, then switch. But, who do you switch to? Let's face it, we all have good days and bad days! There are days when I feel like my clients have really gotten EVERYthing from me. And there are days when I maybe could've done more...

So I'm not suggesting that your agent get fired because one day he or she didn't call you back in less than ten minutes.

But, here is what I think you should expect. Your agent should use all the resources available to them. RealtyUSA agents have fantastic marketing department that can design and publish top notch pieces and campaigns. The Internet and web offer countless opportunities to get your property promoted, not to mention there is an incredible database of homes for you as a buyer! Automatic emailing should be the norm when you're looking for a home. How about single property websites... try this one: www.31keeler.info

How about Facebook? How about Linkedin ? Is your agent utilizing all the servers such as Trulia, Yahoo!, MSN.com ,etc.

Here's a sample of some work done by one of my agents here in Loudonville, New York :

http://video214.com/play/DXUdHcf5wVChQnGaArIUdA/s/dark

He's putting this up in places like YouTube.. Facebook, Google, etc. Your agent can do this sort of thing, but the next step is understanding how to use keywords and methods that will garner the most views possible!


There are many services available to assist real estate agents in helping to promote their listings (read: YOUR house)... These opportunities also are there to help agents find properties for their clients!

So what do you want from your agent? You want them to understand today's technology and resources... to increase your chances of a satisfactory outcome in your real estate endeavors.

That's what you want! Demand it!

Didn't take advantage of the government's home buying credit? Might be GOOD NEWS!!!

Believe it or not I'm being told that the persons who did not take advantage of the Home Buyer's Credit may actually fare better than those who did!

On a 200,000 purchase the interest rate has dipped low enough that the difference may have save those who did NOT partake as much as $18,000 over the life of their 30 year mortgage!

Who'd of thunk it!!!???