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- What is the right price?
- Real Estate Online Marketing
- Vacant Homes Produce Vacant Offers!
- The Finance Contingency….. Is it balanced?
- 203(k) Frequently Asked Questions
- The Price Reduction Conversation-You can’t wait until it HASN’T SOLD
- No Toilets: 10 Tips for Picture Taking
- How do I count the days…..?
- Foreclosures From All Sides
- Top Ten Traits of Successful People
- Can I and, if so, how do I generate MREIS statistical reports?
- Short Sales – What they aren’t telling you
- Effectively Working with Generation X in the Workplace
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News, articles, and advice for Maine real estate licensees, loan officers, and all professionals who assist the consumer in the real estate transaction.
| Posted by: | Steve Hammond, Founding Partner, TRELG |
| About Steve | Steve's Post Archive | |
| Posted on: | December 31st, 2008 at 5:44 pm |
| Filed under: | Maine, Real Estate Education, Real Estate Laws, Real Estate Licensing, The Real Estate Learning Group, Your Real Estate Business |
Let’s now discuss the 2nd part of my article: The Price Reduction Conversation-You can’t wait until it HASN’T SOLD. When we suggest a price to a seller, what is the right thing to do? There’s more than one answer because there’s more than one perspective.
Here is what the Maine Real Estate Commission demands:
Chapter 410: MINIMUM STANDARDS OF PRACTICE
A licensee who represents a buyer or seller client shall advise the client of any factors or conditions actually known by the licensee, or if acting in a reasonable manner, should have been known by the licensee, that may materially impact the client’s interest as it pertains to the market value of real estate.
So, first and foremost, we need to be careful and complete. But, what is the right answer from a business standpoint? Sellers want the highest price possible but to believe that naming the highest justifiable price is too simplistic and just plain poor brokerage. Also, sellers have different circumstances. Some have a strong need for a fast sale.
Today it’s all about competing for buyers. Unfortunately, not every property is going to sell, so being the best value might keep the property off the expired list. Some very successful licensees are doing more than analyzing sold comps; they’re also showing their sellers what the competition looks like and suggesting ways to position the property to be the best choice in its category. The issues include condition, curb appeal and certainly price.
Great client care dictates helping your client understand the world they are about to enter. Showing them where they stand includes going over properties that have sold and properties that they will compete with. You might even bring them through properties that are currently on the market. That way they’ll clearly understand what they are up against and that you, as their real estate broker, are truly working for them in getting the right price.
| Posted by: | John Herrigel |
| John's Website | John's Post Archive | |
| Posted on: | December 22nd, 2008 at 5:16 pm |
| Filed under: | Maine, New Hampshire, Real Estate Education, Real Estate Laws, Real Estate Licensing, The Real Estate Learning Group, Your Real Estate Business |
Why doesn’t my website rank well on Google? How can I make my real estate website into a lead generating machine? Given 85% of new buyers start their search for real estate online, it is essential that one has an online presence today. But writing a paragraph about yourself and uploading some listing photos into a template based site is simply not going to get you there. Just like many things in life, success is directly proportional to the inputted effort.
First and foremost: Developing a strategy and sticking with it.
With many avenues to explore, articles to read, techniques to implement and places to advertise what you want to do and how many resources you want to expend to get there is of top priority. Nothing is free- be it your time or money- and with the Internet as vast and complex as it is, the learning curve can be steep and intimidating, but with the commitment to spend as little as an hour a week, the benefits of the online world can be reaped.
The Goal: A content rich, keyword laced, search engine optimized website with hundreds of anchor text inbound links, (like Maine Real Estate), from credible high page ranking sites combined with informative blog posts on sites such as Active Rain.
Note: If the above sentence seems like a foreign language fear not and read on!
Continue Reading »
| Posted by: | Paula Jalbert |
| Paula's Website | Paula's Post Archive | |
| Posted on: | December 18th, 2008 at 9:43 am |
| Filed under: | Ask The Experts, Maine, New Hampshire, Real Estate Education, The Real Estate Learning Group, Your Real Estate Business |
Vacant homes produce vacant offers!
VACANT
I think we can all agree that these are tough times in the real estate market. One of the areas of home selling where sellers make it harder on themselves is trying to sell a vacant home.
STAGED
Vacant homes do not inspire a buyer to buy or brokers to set up showings for buyers. If you’ve seen one vacant room you’ve seen them all.
| Posted by: | Steve Hammond, Founding Partner, TRELG |
| About Steve | Steve's Post Archive | |
| Posted on: | December 9th, 2008 at 9:49 am |
| Filed under: | Maine, Mortgage and Lending, Real Estate Education, Real Estate Licensing, The Real Estate Learning Group, Your Real Estate Business |
Not long ago, if The Buyers financing fell through, The Seller simply put their property back on the market; sold it quickly and often even received a higher price. No worries, no problems. But now, “back on the market” is a potential major life tragedy to The Seller.
Financing problems can defeat the deal and present a problem for all concerned. The financing contingency currently in Zip Forms allows The Buyer to be relieved of all of their obligations and receive a full refund of their earnest money if their financing is withdrawn anytime, up to the last minute before closing. They are very protected.
| Posted by: | Steve Hammond, Founding Partner, TRELG |
| About Steve | Steve's Post Archive | |
| Posted on: | November 14th, 2008 at 2:28 pm |
| Filed under: | Maine, Mortgage and Lending, Real Estate Education, Real Estate Licensing, The Real Estate Learning Group, Your Real Estate Business |
How do we convince the seller that they are asking too much and what is the right price? Let’s take the first part now and deal with the second in another article.
In my opinion, sellers resist reducing the price for many reasons. They need a certain amount to buy their next property, they want to save face, they’re listening to someone else… or what sometimes seems an infinite number of others.
The “need more” objection has to do with qualifications and motivation of the seller as a buyer. Are they really a candidate to sell in this market? Do you really want to invest your time, money and emotional energy in this listing?
Continue Reading »
| Posted by: | Hannah McChesney, Realtor®, Photographer |
| Hannah's Website | Hannah's Post Archive | |
| Posted on: | November 7th, 2008 at 6:30 am |
| Filed under: | Ask The Experts, Maine, New Hampshire, Real Estate Education, The Real Estate Learning Group, Uncategorized, Your Real Estate Business |
No Toilets: 10 Tips for Picture Taking
As a professional photographer and also a licensed real estate agent, I frequently come across pictures that do a disservice to the property for sale. Using my photographer’s eye, and my knowledge about what sells a house, I’ve put together some simple tips for agents. Agents, you don’t have to incorporate all of these ideas at once; try one or two to start.
BEFORE
AFTER
1 ) Keep surfaces neat – the camera picks up every detail; the best idea is to clear all clutter off surfaces before shooting. Have a few decorative items, but no personal ones (ex. Flowers on a kitchen counter vs. dish soap and a sponge).
| Posted by: | Steve Hammond, Founding Partner, TRELG |
| About Steve | Steve's Post Archive | |
| Posted on: | October 29th, 2008 at 6:30 am |
| Filed under: | Real Estate Education, Real Estate Licensing, The Real Estate Learning Group, Your Real Estate Business |
“How do I count the days from the effective date on the Purchase & Sale Agreement?”
As an instructor with The Real Esate Leaning Group, I have observed that when we teach the purchase and sale agreement to new licensees, (and even some experienced ones), there’s a lot of discussion around counting days from effective date. The latest version of Zip Forms defines a day as “days in this agreement shall mean business days defined as excluding Saturdays, Sundays and State/Federal holidays (including but not limited to Patriots Day, Columbus Day, Martin Luther King Holiday, etc).
I decided to go to the source. Kim Coit has been the chair of the committee that reviews all of the language in Zip Forms based on concerns and suggestions from the users. Here is some Q & A.
Continue Reading »
| Posted by: | Eric Flynn, Realtor® |
| Eric's Website | Eric's Post Archive | |
| Posted on: | October 9th, 2008 at 7:00 am |
| Filed under: | Ask The Experts, Maine, Mortgage and Lending, Real Estate Education, The Real Estate Learning Group, Your Real Estate Business |
We are about to see a ballooning of foreclosures in our market. It may not reach the levels of Florida, Phoenix or Detroit but it will be significant. Foreclosure filings were reported on 276 Maine properties in June 2008, a 14 percent increase from the previous month, and a 61 percent increase from June 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
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