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Archive of Real Estate Bites Articles
May 14, 2008 at 11:27 pm · Filed under Silverdale Real Estate, Real Estate Bites, Mortgage Bites, Sparks from Sparky
As an avid blogger, it’s been an interesting ride thus far. Technology has been advancing rather rapidly in the real estate industry, and the early adapters are usually the ones who benefit the most. I’ve always prided myself on embracing the latest and greatest. So when the marketing paradigm shifted to Web 2.0, I jumped in with both feet! Static went dynamic. The need/demand for interactivity made conversational blogging a perfect venue for meaningful exchange with today’s computer-savvy consumer.
But blogging has an established tradition of stimulating somewhat ‘lively’ debate. Access any number of popular political blogs, and you’ll quickly discover what I mean. While viewpoints and opinions are freely shared, so are vicious barbs and slanderous jabs. Personal attack and public humiliation seem commonplace. And unfortunately, many times, it appears that the ones who are the most ’successful,’ or at least generate the greatest amount of traffic/comments, tend to be the ones who are the most caustic, abrasive, and condescending of the bunch.
Things are a bit more sedate in the Realty Blogdom. However, I have noticed here lately, a few similar trends. Some of the blogs that appear to create/attract the most interest, tend to be overly critical and negative. Sensationalist and provocative titles are employed. Targets are chosen and eviscerated before the viewing public, and all for the sake of ranking. Forget about helping to empower and educate the consumer. We’re having way too much fun dragging someone’s character in the mud!
It reminds me of a guy I used to work with in a previous life. I’ll call him ‘Elvis’ because he loved ‘The King,’ even to the point of sporting huge pork chop sideburns. “Elvis’ was God’s gift to the business world. I had the privilege of accompanying him on a week long sales road trip from Hell. As we traveled along, he confided in me that God had blessed him with superior intelligence. But that his penance in life was to put up with everyone else’s ignorance (his exact words!).
There are some blogs/blog authors who are like that. They’re obviously graced with tremendous smarts and a wonderfully endowed vocabulary. But they seem to be lacking somewhat in the humility department.
So I guess my question is this: Can Nice Blogs finish first? Or do I have to be abrasive and demeaning to succeed? Do we pander to the publics obsession with sensational, provocative, and controversial? Do we sacrifice substance for traffic/ranking? Is content still the King, or is it my buddy, Elvis?
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May 1, 2008 at 11:17 pm · Filed under Bites of Kitsap, Bainbridge Island Real Estate, Real Estate Bites, Buyers, Sellers, Sparks from Sparky
With the advent of the Internet, information has become accessible at blinding speed. Want to know the migrating habits of the South African Gnu? What is the proper way to eat sushi? Or what was the original color of coca-cola? Powerful search engines enable us to locate virtually anything we want at the touch of a few keys. Websites, forums, and networks abound where we can obtain answers for every conceivable question. Information equips and empowers. It serves to form our opinions and guides our decisions.
This rapid accessibility and transfer of information is changing the way we conduct business as well. Companies and business professionals are moving away from one-sided, static websites to dynamic, interactive platforms, such as blogging, that allow consumers the ability to directly engage in virtual conversations.
Open and transparent dialog is a welcomed development in the real estate industry. The shrouds of mystery surrounding our profession have been quickly dissipating, offering consumers a well-deserved look into the inner-workings of the real estate world.
But there are inherent dangers to this new-found ‘free-for-all’ of information. And the potentially damaging ramifications exist for either side of the discussion.
Here’s an example of an actual ‘real’ question that was recently posed by a consumer on a popular real estate site:
“We just recently put our home on the market and we’re wondering, what is the selling market like now? What is the average time to sell a home in the $800K range?”
I’m not going to publish the various ‘responses’ to this inquiry (there were 5 answers at last look), but suffice it to say that all of the respondents chimed in with very detailed local markets statistics, jockeying and positioning themselves as the undisputed resident authorities. Almost all of them offered some measure of advice or counsel, and added the ‘perfunctory’ “for more information, my website/email is blah, blah, blah“….
What I found curiously missing was the question that should always be asked right out of the gate:
“Are you currently working with a licensed real estate professional?”
I’m thinking to myself, does this person have their home listed through a licensed agent, or are they attempting to market it on their own?
As real estate professionals, it’s ingrained into us from almost day one (Realtor Code of Ethics, Article 16) NOT to engage, counsel, or solicit someone who is, by contract, under representation by another agent. When in doubt, ASK!
And, as a consumer who is asking the question, how do you know if the individuals responding to your questions are actually ‘qualified’ to answer accurately? Are they licensed in the State where your home is located? Do they know and understand the unique nuances of your particular area? Who holds them accountable if they provide you with misleading or false information? How do you know for sure if they’re even a ‘real’ real estate professional?
Now don’t get me wrong. I am thrilled about all the advancements in Internet technology and their impact on the real estate industry. Many of the applications are having a very positive effect, both for us professionals, and for consumers.
But as real estate professionals, in our drive and desire to be helpful, we need to be ethically prudent, and exercise caution on what we say, and to whom we respond.
And, as consumers, though the Internet opens up a unlimited wealth of resources, remember that ultimately, real estate is local. The best way to obtain a qualified response?
Ask a local expert.
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April 24, 2008 at 1:50 am · Filed under Poulsbo Real Estate, Real Estate Bites, Buyers, Sellers, Sparks from Sparky
We were pressed for time. My Out-of-State Buyers had only a few days, and were on a whirlwind schedule. They scoured the Internet from a coffee shop wireless connection, and threw a few more candidates into the mix.
It ended up being like that VISA commercial, where everyone in the store is using their VISA card, and then the one guy tries to use cash, and the whole place shuts down from the log jam.
I called one of the last minute entries. The ‘phone-to-show’ number was the Listing Agent’s cell number. I got his voicemail:
“Hi! This is Rich Jacobson of Brio Realty. I was wondering if I might be able to schedule a showing for your listing on Jones Street for later this afternoon. I have some Buyers from out of town, and they would like to see the house.”
I got a return phone call later that day:
“Hi, This is Bill from XYZ Real Estate. Here are the showing instructions for the Jones Street property. Monday, Wednesdays, and Fridays from 5:30pm to 7:00pm, Tuesdays and Thursdays from Noon to 2pm, and Saturdays and Sundays after 7pm.”
…..The brakes on the Home Tour bus came to a screeching halt!!!!…..
It amazes me, given the current market conditions (slow as molasses going uphill on a cold day), why anyone would create obstacles to prevent a home from being shown?
Typically here in our market, the ‘phone-to-show’ number is the Seller’s phone. The Buyer’s agent calls and sets up the showing appointment with them directly. This eliminates one more step in the communication chain. Some Listing Agents prefer to have their cell phone as the ‘phone-to-show.’ This isn’t necessarily an issue, as long as the Listing Agent is readily accessible. But then, the Listing Agent still has to call the Sellers, obtain permission, then call the Buyer’s Agent back. This can sometimes cause delays.
In a slow market, where you have tons of inventory, and lots of homes competing for the same pool of Buyers, Sellers need to do everything within their ability to make the showing process easy and painless for Buyers and their Agents. That means removing any potential obstacles that may exist.
Now, obviously, this doesn’t mean, as a Seller, that you do anything that compromises your safety. Don’t ever allow anyone in through your front door who can’t establish their professional standing as a licensed real estate professional. Always have them activate the Lockbox first, to ensure they can properly/legally access the key, and provide digital record of their visit.
As a Seller, you need to be as accommodating as possible if you’re going to successfully compete with other homes on the market.
appointments, how to sell your home, Kitsap County WA, poulsbo wa real estate, sellers, showing your home slow marketBookmark this article to:
April 15, 2008 at 10:38 am · Filed under Poulsbo Real Estate, Real Estate Bites, Sparks from Sparky, Bite Me Blogs
As many of you may know, I am a Community Builder with ActiveRain, a very large real estate network and blogging platform. It’s a start-up based out of Bellevue WA, and has over 80,000 members throughout the US and Canada.
Part of my role is to simply monitor the network, make sure the members are behaving, and to field questions.
Earlier today, I received an e-mail from a fairly new member out on the East coast. She’s in her in late 20’s, is relatively new to the real estate profession (she didn’t pick the best time to enter the fray!), and is working through the challenges of establishing her business in a slow market.
She recently wrote an article about real estate commissions and the portion that actually ends up in the agent’s bank account. It was a well-written article. However, no sooner had she published it, than a swarm of bubble bloggers descended upon her post and unleashed their commenting fury.
The first volley of comments were fairly typical of most bubble bloggers, but as the discussion slowly devolved, they became increasingly base and personally degrading towards the young author.
(For my regular readers, please forgive the following uncensored re-publishing of a few of these comments. I don’t usually allow this kind of language within the confines of SoundBiteBlog, but I felt it necessary to include them here)
One of the Bubble Bloggers made this degrading comment:
After reading the various posts on this subject, I think that everyone involved is failing to see the big picture here which is that —– is one hot mamma jamma MILF and I can tell that she is a jackal in the sack.
In fact, I would like to bone her very much if she is ever open and willing to fulfill my naughty realtor mom who will do anything to close the deal fantasy.
Most of you are so caught up in your evil realtor nonsense that you can not appreciate a fine cougar when you see one.
—–, love you long time. You are the bomb in my book. You can flip my house any day.
Call me.
-Dave
P.S: Post more pictures.
And another example of this senseless filthy attack:
I’ll pay you 6%. You have proven your worth. I just have one question:
Does that 6% get me some “alone time” in the VIP room and a guaranteed happy ending?
Because I think it’s only fair that I can do to you what your commission would be doing to me.
-L. Flynt
We’ve had a few Seattle area Bubble Bloggers frequent SoundBiteBlog. Most of these individuals are extremely sharp. They’re very articulate and can discuss intricate economic indicators on a equal or better footing than most investment professionals. One in particular has become somewhat of a regular around here. Last time he stopped by, he actually gave me a compliment!
Many Bubble Bloggers tend to be rather argumentative and abrasive by nature, but rarely do they descend to this level of vicious attack. I was able to trace one of the perputraitors back to their blogspot site, and left a few choice comments of my own, along with the charge that he and his blog thugs didn’t reflect or represent the majority of Bubble Bloggers I had encountered.
No doubt they’ll hunt me down now and make me their next target….oh goody!
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April 12, 2008 at 12:11 am · Filed under Silverdale Real Estate, Real Estate Bites, Buyers, Sellers, Sparks from Sparky
I’ve been reading a number of blog articles lately from other real estate agents who promote themselves as though they’re the cure for cancer. They proceed to explain why potential clients should select them as their agent. They all use many of the same descriptive terms - ‘Honest’ or ‘Ethical’ or ‘Hard-working.’ And it just makes you scratch your head and wonder, if all of them are so honest, ethical, and hard-working, why is the general public’s perception/approval rating of real estate agents so low?
Many of the agents I know respond to Seller inquiries rather agressively. This isn’t bad, in and of itself. Being confident in one’s abilities is a good trait, as long as it doesn’t supersede or overshadow the best interests of the potential client.
But ‘One Size’ doesn’t fit All. Let me explain…
Whenever I become engaged in conversation with a potential client, I let them know up front, that while they’re interviewing me, I am interviewing them as well. There are so many dynamics and variables that exist from one client to the next, I just never assume that I will work/partner with everyone who asks.
I’m not being rude or arrogant in this approach. The working relationship between a real estate professional and their client is crucial to achieving success. In a slow market like we are experiencing right now, with high levels of inventory and highly selective Buyers, it is imperative that a home be priced agressively and the necessary steps be taken to ensure that the home is adequately prepared for market.
Quite honestly, there are some instances where I feel customers can be served better through other means:
With all the recent foreclosures, short sales are becoming increasingly common. This area is not one of my strong suits, so I would probably refer it to another agent, one that I know has proven ability.
If someone is ‘upside down’ (owes more on the house than they could sell it for), or lacks equity, it may be better for them to consider using a ‘limited-service’ agency - a ‘per menu’ provider that will place their home in the local MLS for a flat fee. Typically these agencies will only put up a yard sign, fill up the flyer box, and enter the home in the MLS. They typically don’t help counsel you or negotiate any offers that come in. You’re on your own there. But that might be a better situation for some, as opposed to using a ‘full-service’ agent. 
What are the specific, current market dynamics in the area of the subject property? What are the inventory levels of comparably priced homes? What are the Seller’s goals or timeframes for selling? These are just some of the nuances that vary with each situation.
So while I like to think I’m a pretty good agent, I realize that I can’t be all things to all people.
That’s one of the many benefits of blogging. It allows me to share insights into who and what I am. Through my writing, I can convey my unique perspective, my passions, and my personality. Prospective clients can determine whether we would be a good fit without ever having met in person. How cool is that?
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March 6, 2008 at 9:01 am · Filed under Bremerton Real Estate, Silverdale Real Estate, Real Estate Bites, Buyers, Sellers, Sparks from Sparky
As I travel throughout the Real Estate Blogosphere these days, I see a lot of articles being published by agents with the positive-spin headlines,….
…..”It’s a GREAT Time to Buy!”
I wonder how much of this is simply hopeful optimism? Wishful thinking? Or an attempt by those in the real estate industry to counter the incessant media bombardment of ‘Doom & Gloom?”
Well, let’s face it, in most markets across the country, existing homes sales have declined significantly. There’s no way to sugar coat that reality. And as much as we’d love to see things turn around soon, there is no substantive indication of that happening anytime in the near future.
But I suppose, if enough people say that it’s a good time to buy, then maybe some innocent and unsuspecting consumer will actually decide to ‘buy’ something? Just like Peter Pan, we could collectively think ‘Happy Thoughts’ about the market, and magically, home sales would fly!
Buying a home is a HUGE decision, by far one of the most important financial investments you’ll probably ever make. Certainly not something to be rushed into based on the overly zealous opinions of someone who doesn’t get paid unless YOU buy!
So, is it TRUE or FALSE? Is ‘Now’ a good time to Buy?
Well, the answer is TRUE. And FALSE. It really depends on each individual situation. What’s your current financial status? What are your goals? Where do you want to buy? How long do you plan on living in the home?
Here in Kitsap County WA, many of our clients are Active-Duty military. A good number of them are typically on orders to be stationed here for 2 to 3 years. In the past, with home valuations appreciating nicely, investing in a home purchase made sense in most instances. But with the current market decline, it may be better for some people to take advantage of on-base housing, or rent.
If you’re considering a home purchase, find a real estate professional who knows the local market intimately, and can give you reputable counsel, based on your particular needs.
And if the first words out of their mouth is, “It’s a Great Time to Buy!,” then give me a call.
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