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I started practice as a real estate agent in 1990. I was more idealistic in my view of the world. I believed everyone was honest and most people were cash poor. I was wrong on both counts as well as many others. One of the first things to challenge my ideas was a small memo from a local bank posted on our office agent bulletin board. It read something like this.

Dear agents,

Due to a recent audit review of our lending practice we are happy to inform you of a new lending policy. The audit found some discrepancies in lending practice that may create unintentional redlining in certain areas of your market area. In an effort to remedy this practice and conform to regulating policies, we will make loans to individuals who are of African American and Hispanic origin and who might not otherwise qualify for traditional lending programs. Employment and income documentation is not necessary. We are eager to make loans in areas that historically did not meet lending guide lines. Due to the controversial nature of this program we ask that you provide this to only those people who can benefit from this program.

Sincerely,

Any Bank USA

I’m questioned the obvious unfairness this posed to people who were not mentioned in the letter to my manager. A business practice that protected in interest of the lender and investors was some how unfair to certain borrows and their particular situation.

Fast forward 18 years to July 30^th, 2008 Congress Passed and the President Bush signed a multi-billion dollars bail out for the mortgage industry.

I have a better idea how to help this from happening again. Sign up for my next blog when I set forward ideas that help everyone who buys or owns a home.

The Listing Tycoon 

Race: Black - White - Red – Yellow - Brown: Does Race Matter?

If you have been following the democratic primary election you might be inclined to a perception that race does play a role on the choices people make. According to a Fox News Alert posted on the radio the day after the North Carolina and Indiana primaries reported that 90% of the registered black population in North Carolina voted for Barrack Hussein Obama and in Indiana white blue collar factory workers and white middle aged women voted for Hillary Clinton.

This type of demographic outcome in a free election indicates an implied reflection that free people when given the liberty of choice will gravitate toward their own kind and/or to what they associate their perception of who they are like. If this is a true reflection of free will based on racial, ethnic or the association of similar ideology as preference of an individual, then we can assume that the same behavior will play out when it comes to other choices the individual will make creating non-diversity in the general public and society makes as a whole based on freedom.

The question to ask ourselves today is; has true diversity been achieved if we as a person or people of free will choose to gravitate toward housing areas with demographics populated with people similar to us in race and background?

The choices we make when we choose a particular community or township over another based on demographics that represent who we are as an individual in areas populated with people similar to us in race and background skews demographic diversity. This however isn’t illegal.

If we look into our past you’ll find many communities originally had restrictions based solely on racial, ethnic as well as religious guidelines to include or exclude a particular group or groups of people. i.e. (Whites only or Blacks not allowed or no Jews or no Catholics). Restrictions and others rules and regulations of the same effect amount to discrimination. These types of guidelines are illegal today.

It took Congress to pass The Civil Rights and Fair Housing act of 1968 to change the practice of controlled discrimination where housing opportunity is denied by one group toward another.

So what happens to our neighborhoods when we elect to congregate with like kind groups of people and it creates an unintentional segregation in the community? (Unintentional in the fact that these associations are by choice and of free liberty.)

A Situation in housing like this, creates an imbalance of diversity by group types.

This imbalance is the whole point of this blog. The result is unintentional redlining.

 My next blog I’ll describe a situation where a banking institution was accused of redlining because of business decisions based on things other than reason outlined in the civil rights and fair housing act of 1968.

Title VIII of the Civil Rights Act of 1968 (Fair Housing Act) prohibits discrimination in the sale, rental and financing of dwellings based on race, color, religion, sex or national origin. Title VIII was amended in 1988 (effective March 12, 1989) by the Fair Housing Amendments Act, which:

Sign up for future post.

The Listing Tycoon 

Are you a Do-It-Yourselfer? Many of us take pride in the ability to handle a household task by ourselves. After all, that’s one of the perks of home ownership! But not all home improvement projects are created equal and, eventually, there may come the time where you will need to hire a professional to do the work. Here are some questions to ask yourself when hiring a professional:

Do you know how to do the work? This may seem like a silly question, but many people think they can do something just by reading a book on the subject. Be realistic with your skills and knowledge and consider the end results. If you lay concrete for a new sidewalk, will it look as professional as you would like? Do you know enough about the chemical composition of concrete to end up with a sidewalk that will last?

Would you make the situation better or worse? If you get into a project and find out you’re not as savvy as you thought you were, not only will you pay a professional to fix the initial problem, but you may have to pay him/her more to fix your mess. Plus, you don’t want to risk bringing harm to yourself or anyone around you. Both electrical and plumbing projects are ones you should typically leave for the professionals.

Do you have the time? Your spare time is valuable. While you may be able to handle painting the house or installing new carpet, it may also be more valuable to hire someone else to do it and you can spend your evenings and weekends relaxing instead of working on the house.

While many homeowners like to take on DIY projects, some people simply fear hiring a professional. That’s understandable considering home improvement contractor complaints were the source of the most consumer complaints last year, according to the National Association of Consumer Agency Administrators.

But there are ways to screen for qualified help. In addition, there are online services, such as ServiceMagic.com or your local Better Business Bureau that can connect you with prescreened, licensed and insured contractors in your area.

The Listing Tycoon 

Many people are going to use their tax rebate for travel or for a well deserved vacation. We decided to provide a few links that can help you on your way. While on your way to your destination stop by a local real estate company or pick up a local newspaper to compare their market to your home market. It can be fun and the difference in markets can be surprising.

Good luck and have fun!

	The Americas		UK /Europe / Africa		Australia/ Asia / Pacific
	Cancun Chicago Honolulu Lake Tahoe Las Vegas LosAngeles Miami Nassau New York Orlando Riode Janeiro San Diego SanFrancisco Toronto WashingtonD.C.		Amsterdam Barcelona Cape Town Dubai Dublin Edinburgh Florence London Madrid Munich Paris Prague Rome Venice Vienna		Auckland Ayers Rock Bangkok Beijing Cairns Christchurch HoChi Minh City Hong Kong Kyoto Melbourne Nadi Queenstown Singapore Sydney Tokyo
	more cities		more cities		more cities

The Listing Tycoon 

Clean and Clear Clutter: Most real estate companies and/or agents have guide lines that help you polish your home. If you’re on your own the internet should provide you with ideas on where to start. You can also hire a local decorator to help present your home with popular trends that are popular today. Many relocation companies tend to neutralize bright colors with bright earth tones. Use our checklist located at the following pages: http://www.listingtycoon.com/StagingChecklist

http://www.listingtycoon.com/CurbAppealList

http://www.listingtycoon.com/ImprovementsThatPay

Photographs: A picture is worth a thousand words. In home selling it’s worth dollars instead. Buyers want to pictures of homes. Being able to preview a home on the internet is convenient, time saving and a constant reminder to a buyer that right at the same moment another buyer can be deciding to buy that very same home. Pictures can create something of an artificial demand in this sense that homes presented with great pictures are equal to a better value because urgency can be created. If your budget allows you to hire a professional do it. Professionals know how to frame subjects in a picture. Create effective lighting that sets a mood or modify contrast, focus or depth of field for a special effect. Second use as many photos as possible that represent the property with out over burdening the viewer. In other words you might not need 6 photos of your bathroom if one or two conveys all or most of the rooms attributes. Photo tours on the internet work well also. A photo tour rotates your pictures like an automatic slideshow. Buyers are more likely to watch if it requires no action on their part.

Write good ad copy: If you aren’t creative ask a friend or family member who can. Describe a lifestyle the home avails itself to. Like- Close to rolling green hills in the park for family walks after dinner. Or Take a swim in the nearby lake on a hot summer day to cool off then lounge at home under the pergola as the sun goes down. The three bedrooms a 2 baths is good information: however, I wouldn’t find that any different from the next ad with 3 bdrs and 2 bths. The important thing to think about is how your wording in an ad separates your home from competing homes in your market area.

Combine Photos and advertising: Use photos and written script in print ads, flyers or professional brochures together. Include an address or website that has a custom url that allows people to get more information about your home. Include your contact information. Again, use a website that allows people to ask questions, via email or submit their contact information to you.

Place an ad in the local newspaper: You can place a basic ad with general information about your home an include a web address url where buyers can find more information about your home. This allows you to save advertising money by keeping you ad short and to the point while allowing interested prospects to easily get more information about your home.

Make it easy for buyers to see your property: How often have you bought something sight unseen? Unless you know the company or product well chances are you haven’t. Same goes with homes in most cases. It’s important to make your home readily available for buyers to tour or visit. Be available on evenings and weekends to have your home shown. If you hire a real estate agent leave the house and let him/her do their job. Leave during the showings. Buyers who are truly interested and have questions only you can answer will be willing to wait a reasonable amount of time if the agent is unable to answer the question without you. Hold open house regularly.

The Listing Tycoon 

Setting the asking price

You’ve lived in your home for a number of years and now its time to sell. You think to yourself. How do I set a fair asking price?  We’ve added on, remodeled the kitchen and baths, and finished the basement into a family room. I’ve invested a lot of time and money into my home; plus, the house down the street sold for twice what I paid for my home 15 years ago. So then what’s a fair asking price if I sell my home today?

Consider what type of market your home is located in now, buyers market or sellers market? To do this consider some of the following.

Sellers Market: The ideal market to sell a home in is a sellers market. A sellers market is typically when there’re more buyers in a specific market area than homes available to buy. Buyers often compete with other buyers for homes often bidding higher than the asking price. A real hot sellers market could see multiple offers the same day the sign goes in the yard.

Buyers market: In a buyers market the reverse is true. There’re more homes than buyers and buyers often make offers well below asking price. Buyers are also willing to make offers on others homes before negotiating hoping to buy the best value in the market.

Housing inventory: To determine the type of market you’ll be selling in you’ll need to know the housing inventory. The inventory is all property available for housing in your area and includes homes listed with real estate brokers, builders, for sale by owners, through auctions and available by bank owned real estate (REO).

You can research inventory on the web. Sites like Realtor.com represents listed properties by real estate brokerage firms. You’ll also need to research for sale by owner sites as well as local newspaper or drive by yard signs to get the other homes in your market area. Some websites can give you a figure based on area selling trends, typically for a fee. Another place to get accurate information is a real estate company or appraiser. They will be looking for your business or a fee as well in most cases.

Next you’ll need to consider the amount of time each of those properties has been on the market or DOM (days on market). Real estate companies are a good source for this information. Zillow.com can also give you some idea weather prices are rising or falling. Try to compare the dom of current homes for sale today to homes that sold a few months ago. In general, if homes are selling faster than a few months ago you’re either in a sellers market or headed that way and can possibly receive a higher than asking selling price. If the reverse is true then a buyers market is what you’ll be dealing with and lower selling prices can be expected.

The last thing is new construction. If builders are building entry level housing and your home is more of a first time home buyers’ property then be prepared to sell for less than their asking price. On the other hand it may also indicate a demand for housing in that price range. Check with local government agencies to help determine your situation. If builder overbuilds they could offer big discounts to move their inventory as well.

Professionals in the business: It's up to you to seek out good advice. If you're uncomfortable with the answers you get ask for a second opinion. In the end regardless of whether you're selling on your own or through a brokerage firm it's always wise to get competent and reliable information. Ask questions if you don't understand. There are professionals that can help.

The Listing Tycoon 

Reap the tax deductible rewards of home ownership!

If you’ve purchased, sold or refinanced your home in the past year, tax season is the best time to reap the benefits of being a homeowner! Take advantage of some of these tax breaks today and you could enjoy a bigger return
in April!

Mortgage Interest. For most homeowners, the bulk of your mortgage payment is going towards interest – and that’s a big tax break for you! The mortgage interest on your primary residence is fully tax deductible, unless, of course your loan is more than $1 million.

You can also deduct late payment charges as home mortgage interest as long as the payment was not late due to a specific service received in connection with your home loan. Also, if you pay off your mortgage early and incur a prepayment penalty, you can deduct that penalty as home mortgage interest (subject to the same requirements for late payments).

Property Taxes. Your property taxes - the annual taxes based on the assessed value of your property – can also be deducted. Your mortgage interest statement may list the amount of real estate taxes you paid if your taxes and homeowners' insurance went into an escrow account when you closed on your mortgage. You can also review your cancelled checks to determine your total real estate tax deduction.

Loan Points. Any points you paid to get a better rate on a home loan, are tax deductible in the year you made the purchase as long as:

• The loan is secured by your primary residence and it was used to buy, improve or build the home.
• Paying points is an established business practice in your area;
• The points are computed as a percentage of the loan principal;
• The points are clearly defined on the buyer's settlement statement; and
• You put cash into your home purchase in an amount at least equal to the points you were charged.

Loan Points on a Refi. The points you paid on a refinanced loan may also be tax deductible, however in most cases, the points must be deducted over the life of the new loan. So if you paid $2,000 in points to refinance a 30-year mortgage, you can deduct $5.56 per monthly payment, or a total of $66.72 if you made 12 payments in one year on the new loan.

Interest on a Home Equity Loan. The interest on a home equity loan may be tax deductible up to $100,000. However, if your home equity loan, when combined with your first mortgage amount, increases the debt on your home to an amount more than the property's actual value, you’ll face deductibility limits. In these cases, the IRS allows you to deduct the smaller of interest on a $100,000 loan or your home's value less the amount of your existing mortgage.

Each individuals tax circumstance is different. Check with a CPA or your Tax consultant to see if this information applies to you.

The Listing Tycoon 

1. Get some color early. Forcing bulbs in pots and window boxes add so much to your curb appeal. Choose pansies, primrose and daffodils for beautiful accents before the rest of your Spring flowers kick in.
2. Start raking mulch carefully. When its warm enough for your plants to withstand a little less mulch-warmth, start raking your beds to lay the groundwork for your new spring mulch. A little aerating will go a long way, too.
3. If its green, let it grow! Newly emerging plants are sometimes hard to recognize. If its green, let it grow a little bit to make sure. Sometimes, people mistake beautiful baby mums for weeds.
4. Tend to compost. If your compost pile has been ignored in the winter, start paying attention by breaking up big chunks and doing a heavy raking. The spring showers will really help a compost pile get ready for your spring flowers.
5. Stake plants that need it. Spring weather is always unpredictable, so give your plants a head start by staking them. Youll be glad you did during the heavy spring storms.

The Listing Tycoon 

Termites get spring fever

People aren’t the only creatures who get Spring fever. The sunny, mild weather with a few rainstorms mixed in bring hordes of wood-devouring termites out into the open to swarm – mate – and, eventually, inhabit your home. 

Pest control industry estimates indicate that the damage termites cause now tops $5 billion each year - and homeowner's insurance doesn’t usually cover these claims. From now through May, termites will be at their worst as termite swarm season descends on the United States.

Recognizing termites is tricky, since they are often difficult to distinguish from flying ants. Termites have relatively straight, beadlike antennae, while ants have elbowed antennae. Termites have two pair of wings (front and back) that are of almost equal length. Ants also have two pair of wings but the fore wings are much larger than the hind wings. The abdomen of the termite is broadly joined to the thorax while the abdomen and thorax of the ant are joined by a narrow waist.

Subterranean termites are by far the most destructive species. They can collapse a building entirely, meaning possible financial ruin for a homeowner. The hard, saw-toothed jaws of termites work like shears and are able to bite off extremely small fragments of wood, one piece at a time.

Experts from the National Pest Management Association offer several tips to avoid termite infestation:

• Since termites are attracted to moisture, avoid moisture accumulation near your home’s foundation. Divert water away with properly functioning downspouts, gutters and splash blocks.
• Reduce humidity in crawl spaces with proper ventilation. Prevent shrubs, vines and other vegetation from growing over and covering vents.
• Before and during construction, never bury wood scraps or waste lumber in the backfill, especially near the building. Be sure to remove old form boards, grade stakes, etc., left in place after the building was constructed. Remove old tree stumps and roots around and beneath the building. 
• Most importantly, eliminate any wood contact with the soil. An 18-inch gap between the soil and wood portions of the building is ideal.

Treating termites
If you do find yourself dealing with infestation, virtually all experts advise calling a pest management
professional to help identify the termites, determine the extent of infestation, and recommend a prompt, effective control program.

Currently, there are three types of treatments available for use by the professional: soil treatments, wood treatments and baits.

Soil treatments are liquid termiticides diluted with water to ensure adequate coverage in the soil. Injection of this system in the soil creates a treated area that repels or reduces the population of termites and envelops the structure with a long-term protection. This is the most commonly used system and may be used in combination with baits and/or wood treatment.

Wood treatments involve treating infested wood or potentially infested wood with liquids such as a traditional treatment or borate materials. This treatment type protects the wood from infestation and reduces or eliminates the infestation in the wood at the time of the treatment.

Baits are relatively new and involve installing bait stations in the ground. Termites then eat the bait and carry the active ingredient throughout the colony or area, thus reducing foraging, which in turn reduces the colony population. Baits are popular since there is no interior drilling, and they are less bother for the homeowner.

Your home is one of the largest investments you’ll ever make. Don’t let it fall victim to termites! I can recommend a pest management professional in your area.

The Listing Tycoon 

 The Listing Tycoon 

Here are some good tips!

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Trying to avoid getting sick? Keep your hands clean

With flu season upon us, many of us start running when we hear a sneeze and avoid sitting next to anyone with a sniffle. But germs are lurking in far more places than many of us realize and touching everyday objects or even just shaking hands can make us sick. In fact, 80 percent of the germs that cause illness are spread by contact. These germs are spread directly - by shaking hands, for example - or indirectly, when we touch an object that has been touched by other people's "germy" hands.

According to Dr. Philip Tierno, director of clinical microbiology and diagnostic immunology at the New York University Medical Center, just about every place - in the home or outside the home - has illness-causing germs because germs are a normal part of our world. “Being aware of how we make each other sick by transmitting germs through hand contact is the first step toward preventing the illnesses that germs cause."

The answer isn't to stop touching, rather, you should kill potential disease-causing germs on hands by keeping them clean. When possible, wash your hands with soap and warm water. Be sure to rub your hands vigorously together for 15 to 20 seconds. It is the soap combined with the scrubbing action that helps dislodge and remove germs. When hand washing isn’t an option, use an alcohol-based instant hand sanitizer or wipes.

You should also clean your hands after using public restrooms, ATM machines, and escalator handrails as well as before preparing and serving meals at home; before eating in restaurants; after riding on public transportation such as trains, buses, and planes; and after coming home from being outside.

It’s also important to keep your desk, or work area, counter tops, doorknobs, phones, faucets, and other commonly touched areas clean by wiping them down frequently with a product that says “sanitizing” or “disinfectant” on the label. Antibacterial products are meant to be used on the body and only kill a portion of the spectrum of bacteria that can make you sick.

And if you do get sick, despite you best efforts, do everyone a favor around you – stay home and rest.

 The Listing Tycoon 

Steps to conquering your debt

Today, the average American household carries about $9,000 in debt, which can hinder their ability to qualify for a mortgage or any other type of loan. Many people try to pay down some of their debt prior to applying for a loan – a task that’s easier said than done. However, American Express offers four easy steps that you can do to help manage your debt:

Know what you owe. Make a list of all the credit cards, student loans and other debts you have and the monthly payments required for each. It's important to know how much money you have to pay out each month so that you can budget accurately. A solid budget is key to your get-out-of-debt strategy. It's easy to find budgeting planners and software online - or consider meeting with a financial advisor.

Set smaller, more realistic goals. Instead of trying to reinvent your budget, look for practical ways to cut costs and get great value for your money. For example, cutting back on spending for clothes and dining out can be a more effective tactic than eliminating them altogether.

Commit to saving money. One of the best ways to save more money is to have your contributions automatically deducted each month. You don't see the money, so you don't miss it. Commit yourself to a savings plan like a 401K or an IRA where you can arrange to have your contributions deducted automatically.

Use a charge card - or cash - instead of a credit card to pay for purchases. Charge cards are payable in full each month and they have no interest payments or finance charges. Plus, charge cards can offer a number of valuable benefit and services, such as rewards and travel and retail protections, at no extra cost.

The Listing Tycoon 

In the mid 90's I worked for a mid-sized real estate firm about 50 agents in two offices for our market area. We offered all the services of the larger firms and that's were it ends. The perception was  XYZ was the biggest and the best in our area. Statistics tell a different story though. It's true XYZ had more office scattered about and as such had a larger presence. They listed more homes per month than any other agency in our area, however: they only sold about half of their listings. Compared to 86% listing sold of our firm. In fact they had the lowest listing sold ratio of any broker in our market area. "So facts speak for their selves". Maybe not. On listing appointments I would show a potential seller MLS statistical information show my claim, unfortunately: the information carried little weight in their decision making. When asked why they choose XYZ the response was predictable, XYZ is the biggest. How can you compete with perception? I give up.

The Listing Tycoon 

 In this edition we'll examine  "whoville" homes.

Well that depends on what "Bigger", is, and who you ask. "Bigger", stands for how new homes are being built. Traveling through the North Eastern United States corridor you can’t help to notice the spread of suburban sprawl. I travel daily from Central PA., to Washington D.C., occasionally I’ll find my way to Philly and on to New York City. With a quick glance out the side window to the left or right you’ll find bulldozers making way for developments with signs that boast luxury living starting in the low 400’s with several stages of home development in progress. So, what do you get for all that money? From my perspective behind the wheel you get an oversized home on an undersized lot that is built out in no time at all. I know some of you will say that I oversimplified or didn’t take into consideration this or that. Okay maybe I did: However, I think if a buyer gave careful consideration to their new home they’d build something else.

Is Big what the consumer really wants? I don’t think so. Most home buyers buy what’s available on the market when it’s time to find a home. They forego good design, quality construction and forget about craftsmanship. For 15 years while working with buyers I can honestly say 99% of them made offers on the dream homes that was more of something they settled with or compromised on. I recently watched two homes being built in a small subdivision near my home. Large homes, small lots and big price tags and the vinyl siding is wavy, construction grade kitchen cabinets and bathrooms. Stone veneers which have had stones fall off already as well as roof trusses that the builder used scrap wood stock to level the fascia board. The homes have sold for the average price per square foot and the only positive thing I can say is the location is in a desirable community. I just wonder if banks are to blame for this. After all, the price per square foot is the standard for a finished home. I’ve seen loans rejected based on finished value when the cost per square foot to build a quality home plus labor exceed local average cost per square foot. The quality of the construction is regulated by the lowest common denominator of poor construction. I wonder how long it will be before those buyers tire and move on or how long these homes will actually stand.

I have no doubt in that in ten years we will be revisiting what type of value we put on housing and the quality of what we call home.

Any craftsman left in America? I need a new home.

Vinyl siding a brick façade 2x4 wall construction construction grade material. So then, why are these whoville homes (as my wife likes to say) flourishing?

Next time is a bigger real broker better?

The Listing Tycoon 

"Several years ago industry insiders said "The number of active agents would drop by half. Agents would need to be tech savvy. Business expectation of clients would demand different marketing." I took that prediction to heart and I researched what tech companies had to offer. I kept going back to Alamode for the high level of the technology they offered and for the affordable price they offered it for. It was the best deal then and that still holds true today. Plus with 24/7 support, a novice can be up online in no time at all. That was me 4 years ago, a novice. Today I help others achieve a professional internet presence. Thanks Alamode.

The Listing Tycoon 

What’s a commission worth?

After the resumes, promises and marketing presentations have been presented, comes the time to tackle how much will the commission cost the seller, or how much will it cost the agent.

This one subject stands in the way of executing listing agreements and winning favor for business many times over. Many sellers forget about the first two or three hours of the marketing presentation and zero in on the commission.

So, how much is the commission?

Yes that question works at many levels for different people. The agent/marketing firm/broker and the seller have that same consideration and now the buyer has a chance to earn some of that commission.

Let’s examine these scenarios.

1. A seller sells his property for full market value on his own. Then the seller receives the full commission minus any expenses like sign, advertising and his/her time. That’s the goal of most FSBO’S (for sale by owners) and the seller has now earned the commission.

2. However, many fsbo’s discount the asking price since they aren’t paying anyone the commission and it gives them a marketing advantage over local competition. This makes their house more attractive to buyers since it now has a below market value for an asking price. Unless a sellers in a strong sellers market be ready for a lower than asking price offer. In recent years this bottom line for sellers fell around 16% below market value after completion of the transaction. Now back out the cost of newspaper ads, flyers, signs and of course their time. In this case the buyer goes into negotiations with some of the commission already in the buyers’ pocket plus the opportunity for even more savings. With this case the buyer gets paid the commission and the seller ended up paying it.

Both of these scenarios assume sellers have the access to accurate market information to determine market value.

3. A seller hires a professional to sell their property. Advertising cost and time are now the expenses of the broker. In most areas of real estate practice, the broker absorbs any financial loss if the property fails to sale. Also the seller benefits from a brokers access to current real estate pricing trends. An example would be how long it might take or the average asking price to selling price ratio. If a broker has to co-broker the sale of a home the other broker normally gets half the commission. In this case the broker earns the commission.

Every transaction is different and not everyone always wins.

The following saying is most true in deciding the worth of a commission.

If all parties involved in a transaction feel they got the best end of the deal. Then the commission is worth what was paid. This is also true if all parties feel they got the short end of the deal. Then again, it was a fair deal.

Not all cases can be summed up in this blog. However, our goal was to make you pause and think about that other shoe. Trying it on might not be what you think. As always contact professionals in areas of expertise you have questions about.

The Listing Tycoon 

The internet has opened up advertising and marketing to a world wide consumer base. The only thing is how do you and can you attract that consumer base.

 If this was the gold rush of 1849 conventional wisdom would be to go west to make your fortune. But as history shows only a few 49ers’ actually struck gold and even fewer got rich. Today, the internet is the modern gold rush. So, whose marketing service do you use? We’ll if you wanted to stake a claim that paid off you wouldn’t mine a mountain of granite looking for gold. That’s how we see many marketing solution offered to consumers today. Consider today’s local newspaper. Ten years ago your local paper was a gold mine. At the time it was the best and most economical way to attract buyers. Those who are in the market to buy a home would pick up a copy to find what they wanted and then call the seller or agent. Today newspaper circulation is dropping, as well as the number of advertisers. Yes newspapers are going the way of the dodo bird. Newspapers aren’t extinct yet but they are expensive by today standards and are limited to a local circulation that’s dwindling. Ask yourself when was the last time you picked one up to read the classified ads and called someone?

 With the internet there’s an easier way to house hunt. How about other real estate websites? That’s all fine and good except if you recall your history most 49ers’ didn’t strike gold. The reason they didn’t strike gold is they didn’t understand the nature of mining gold. Sure there where a lot of miners just like the huge number of real estate related websites. But, you need to understand how to separate the gold from all the earth and water and debris. My observation of websites tells me that some webmasters are mining that mountain of granite. When you list a home with a real estate firm it’s like buying a claim in a gold mine. You want a payoff. Results come from effective mining.

Asking good question will help in determining weather you'll strike it rich:

Here are a few to start with.

• How does your website attract buyers?
• What web tools does the website use to get top rankings from search engines?
• How does my house listing interact with potential buyers looking on the web for a home?
• How will a buyer find my listing on your company website?
• What features does my home on your website have? Such as; video tours, multiple photos, podcasting and notes.
• Can a friend forward just my listing to another friend?

Yes there’s gold in them there hills! You only have to dig it up!

The Listing Tycoon 

10/31/07  Next time we'll examine What is a commission rate worth.

In analyzing the successful real estate agents, I have determined that those who succeed have done so by doing something more, something extra that other agents don’t do and who tend to be less successful…

You can say it’s the extra that counts. Good service is accepted, professional service is expected, and when the professional service is provided above what is expected you’ll find success is the driving force of something extra.

Some agents do well for one reason or another. For example, we’ll look at the agent whose spouse provides buyers or sellers from his or her work place. To onlookers that agent may appear successful; however, if the agents’ service lacks that extra on top of professional service you can safely rest assured as soon as those leads end so will the agents success.

 There’s no secret formula to gain this knowledge for achievement yet only few agents ever pass mediocre. I have also noticed agents that have produced better than their peers are also consistent. They provide something extra to every consumer/client every time.

If I’m correct with this observation then any agent who applies the ability to listen and then act on the needs of who they serve, is destine for success.

Deeds do speak louder than words.

The Listing Tycoon 

10/30/2007