Real Estate Education Training:
Probate Process Observations
I have been doing Probate Real Estate transactions for three decades and I have learned that it is a "process". I always recommend and appreciate working with an Attorney that specializes in Probate Law. One can "survive" the journey and maybe save a little money by doing it on their own but I would not recommend this route. My blog today is not to debate the best way or most inexpensive way to travel through selling Real Estate without legal counsel. I enjoy sharing my over 30 years of Real Estate sales experience with Probate and other transactions with the belief that maybe I can shine a little light on the path. Those dearly departed loved ones that prepare a Will, Trust or other acceptable documents will likely avoid most of the pit falls.
I have worked with several Probate Attorneys in Los Angeles, Orange, Riverside and San Bernardino Counties towards marketing their Probate Real Estate. There are a few differences that need attention by the Realtor and I advise a quick review at the beginning of each transaction to refresh the memory and prepare for meetings with Attorneys and Personal Representative for the Estate. Most of the information can be found online or in the many Probate books/manuals available in libraries or book stores. These resources are great for reviewing a lot of information about Probates. They also allow one to carry on an intelligent conversation with all the parties. Terminology is very critical!
I want to take this opportunity to share some "common sense" experiences that I gained during my years. I find that most of us learn from doing even if we have read the Probate books. The Personal Representative will receive invaluable guidance from the Attorney about the steps to complete the process. The Attorney will handle the paper work and be there ready to advise and navigate the court system, assist in securing a tax identification number and more. The Probate Attorney has also helped this Realtor as well. Hopefully, I can share a few tips that make the course a bit less rocky. My web site www.miketeer.com has a Probate Sales link.
Secure the property:
I have worked with "in town" and "out of town" Personal Representatives. Many of the properties are now vacant. Their loved one may have lived alone. The property needs to be maintained during the Probate process which may take several months. Working locks on all doors and secured windows are highly recommended. Vacant and unsecured homes are now more than ever being occupied by individuals looking for shelter. The potential for damage is heightened when this occurs, as well as, other concerns
Utilities are crucial:
Maintaining the property will also reduce the problems of Code Enforcement violations. Having gas, electric and water service is recommended. Hopefully, the property will have automatic sprinklers installed. Those without automatic sprinkler systems may require manual watering to avoid violations and problems with neighbors. Lighting and security systems will also discourage intruders.
Insurance:
Homes that are owned free and clear are often insured but not always. The Attorney for the Estate will likely cover this and more. A vacant home will attract vagrants and others. Insurance gives the Estate coverage for most damages that might occur during the Probate. Knowledge of the existing insurance policy is also recommended. Check for clauses related to long term vacancy. Be aware that vagrants and others who venture onto the property might get injured and/or cause other issues.
Property Management:
We can handle the Property Management and sale of the Real Estate from the time we are selected by the Attorney/Personal Representative/Court to close of escrow. Our Property Management services includes coordinating the selection of maintenance services (pool service, gardeners and others) to maintain the property. We work with the Attorney and Personal Representative to keep the property in good condition.
Personal Representative:
This positions is defined in great detail at www.miketeer.com and other Internet websites. The key contact for the Realtor should always be the Attorney for the Estate and the Personal Representative. I can recall one instance where there were several surviving males and the younger female family member was selected to manage the Estate by the decedent. Our office and the office of the Attorney for the Estate were bombarded with calls and visits from the male family members seeking to influence our efforts on behalf of the Estate. We experienced a few uncomfortable interchanges reminding them that the Realtor had no control over the distribution of the sale proceeds and that the sale would be confirmed by the Probate Court. We also had to explain that all instructions to the Realtor would come from the Attorney, Executor/Administrator or the Court. Finally, we made sure to communicate all contact by the other family members to the Attorney and Personal Representative.
Listing Broker:
Teer One Properties, Inc. is a member of the National, California and Pacific West Association of Realtors (www.pwr.net), as well as, a member of the California Regional Multiple Listing Service (CRMLS). We have worked with many Southern California Attorneys towards helping their clients market Real Estate. We are also able to coordinate Real Estate sales in other parts of California and the U.S.A. via our membership in the National and California Association of Realtors. We are very familiar with the Probate process and can work seamlessly with Probate Attorneys and their clients.
The Listing Broker will handle the Real Estate marketing including placement in the CRMLS and other Social Media for maximum exposure. Teer One Properties Real Estate will be the first point of contact by interested parties and/or other Brokers with offers to purchase the property. Those that the Attorney and Personal Representative believe to be representative of the best interest of the Estate are brought to Probate Court for court approval, overbids (better offers), rejection and, etc. We are prepared to select qualified service providers for escrow, title, termite clearance and other required tasks during the transaction. We have been highly praised for helping the clients of Probate Attorneys with all of the Real Estate related and many other tasks where our extensive Real Estate experience was useful.
Probate Court Approval:
The Real Estate Property Sale must receive court approval. The Realtor will join the Attorney and client(s) in court for presentation of the offer(s). The court will give us instructions based on the offer(s) and we will work with the Attorney, client(s) and Buyers agent/Buyers towards getting the sale successfully closed.
Other Miscellaneous Information:
Again, this is a thumb nail piece of information that I believe will help the Personal Representative and others when dealing with an Estate that has one or more pieces of Real Estate. Contacting a Probate Attorney is recommended for expert guidance. A Realtor with Probate Sales training and experience is definitely an asset as well. I believe that a "tune up" where updated information is provided regarding changes to the Probate process is very valuable. I have been doing Probate and Conservatorship transactions for over 30 years. I completed a Certified Probate Real Estate Specialist (CPRES) course and added to my knowledge of the process. By the way, the class was taught by Joe C. Ramos. The course presenters included Probate Attorney, Paralegals, Estate Planning and other professionals.
Further, the rules related to Probate Sales are available for all to read and follow but the experienced Probate Attorney is in the arena on a regular basis and will help avoid delays and other problems by giving proper notices, etc.
"For Tier One Service - Call Teer One Properties"
Michael Teer, Broker
Teer One Properties, Inc.
951-313-5168
ProbateSoCal@gmail.com
www.miketeer.com
Monday, July 15, 2013
Wednesday, July 3, 2013
Are we there yet?
Real Estate Education Training
Has the Housing Industry recovered?
Most parents are very familiar with this question which is often asked while driving long distance with their kids. We try to sound encouraging with comments like "it's just a little bit further, it's only a few more miles or we will stop for food or drinks real soon". We know that everyone is ready to get the trip done and get on with the fun at the end of the travel. It is also a very draining drive for the one behind the wheel with the very important task of watching traffic, attempting to sit in one spot for hours and keeping every one's spirits up while contemplating the estimated time left on the journey. Anxiety does not reduce the miles or shorten the journey.
Our housing industry has been the topic of discussion during many visits with family and friends. Their "are we there yet" questions are filled with anxiety about being underwater on their mortgages. They are also getting conflicting reports of doom, gloom and encouragement from multiple sources with intentions that may not be in the consumers best interest. Lenders looking to refinance and/or do reverse mortgages, agents seeking listings and third party aggregators working to corner the various markets to increase revenue from advertisers, etc.
Most of us in the industry have access to the better and more accurate indicators (Active Listings, Pending/Closed Sales, Expired Listings and more). I am always a bit irritated when I notice that my Listings which have been Sold and Closed for months are still showing as Active by these groups on their web sites. It is also a challenge when I receive a call from a serious buyer asking to see the "Active Listing" several weeks or months after closing. Some will argue that it must be available because they just saw it on this or that web site. I first have to reassure the buyer that I am not trying to keep them from seeing and making an offer. I then attempt to educate them on the California Regional Multiple Listing Service (CRMLS) systems multiple daily updates as opposed to the web site that they saw the "Active or Available" post. Some are battle weary from being in the trenches for months attempting to buy a home where the "low inventory" has forced them to tour scores of homes and make multiple offers without success. These folks are ready for hand to hand combat and some are moving towards depression when their "got to move soon" clock is ticking louder by the week.
I very carefully ask if they are working with a Realtor. Most are. The ones that are not working with a Realtor with CRMLS access are the ones that require the most patience. They have many reasons but a resounding one is that they "do not want to be locked down and called by an agent all the time" They would rather just check online with a web site of their choice and just call when they see something they like. I just love that one! I then will slowly build my understanding of their position and might even share a personal experience with calls from professionals in other industries where I thought it a bit over the top. I then share with them the benefits of working with a Realtor with access to CRMLS. I often recommend me. I tell the buyer how I am willing to work with their expressed housing requirements. I also tell them about the tools offered by a Realtor with CRMLS assess that allow the buyer to control the process. They love it! Telling them what a Realtor can accomplish with CRMLS sells itself.
What I believe is the most beneficial answer to the "are we there yet" and other industry questions is affording the consumer access to "timely and accurate information" Most are hearing or reading housing reports that are being regurgitated from folks outside the Realtor and/or CRMLS ranks. This data is seldom recent and could be inaccurate on close review. I also take the opportunity to use an old hunting comment of "you eat what you kill" I emphasize that I am a full time Realtor and only get paid at close of escrow. I do not receive referrals or a good reputation for service by providing inaccurate or misleading information to clients. I do not get paid by advertisers paying for access to my web site to increase their exposure to my client base.
Like my fellow Realtors, I will provide my clients with access to the timely and accurate information and allow them to determine if we are there yet.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 (Cell)
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Has the Housing Industry recovered?
Most parents are very familiar with this question which is often asked while driving long distance with their kids. We try to sound encouraging with comments like "it's just a little bit further, it's only a few more miles or we will stop for food or drinks real soon". We know that everyone is ready to get the trip done and get on with the fun at the end of the travel. It is also a very draining drive for the one behind the wheel with the very important task of watching traffic, attempting to sit in one spot for hours and keeping every one's spirits up while contemplating the estimated time left on the journey. Anxiety does not reduce the miles or shorten the journey.
Our housing industry has been the topic of discussion during many visits with family and friends. Their "are we there yet" questions are filled with anxiety about being underwater on their mortgages. They are also getting conflicting reports of doom, gloom and encouragement from multiple sources with intentions that may not be in the consumers best interest. Lenders looking to refinance and/or do reverse mortgages, agents seeking listings and third party aggregators working to corner the various markets to increase revenue from advertisers, etc.
Most of us in the industry have access to the better and more accurate indicators (Active Listings, Pending/Closed Sales, Expired Listings and more). I am always a bit irritated when I notice that my Listings which have been Sold and Closed for months are still showing as Active by these groups on their web sites. It is also a challenge when I receive a call from a serious buyer asking to see the "Active Listing" several weeks or months after closing. Some will argue that it must be available because they just saw it on this or that web site. I first have to reassure the buyer that I am not trying to keep them from seeing and making an offer. I then attempt to educate them on the California Regional Multiple Listing Service (CRMLS) systems multiple daily updates as opposed to the web site that they saw the "Active or Available" post. Some are battle weary from being in the trenches for months attempting to buy a home where the "low inventory" has forced them to tour scores of homes and make multiple offers without success. These folks are ready for hand to hand combat and some are moving towards depression when their "got to move soon" clock is ticking louder by the week.
I very carefully ask if they are working with a Realtor. Most are. The ones that are not working with a Realtor with CRMLS access are the ones that require the most patience. They have many reasons but a resounding one is that they "do not want to be locked down and called by an agent all the time" They would rather just check online with a web site of their choice and just call when they see something they like. I just love that one! I then will slowly build my understanding of their position and might even share a personal experience with calls from professionals in other industries where I thought it a bit over the top. I then share with them the benefits of working with a Realtor with access to CRMLS. I often recommend me. I tell the buyer how I am willing to work with their expressed housing requirements. I also tell them about the tools offered by a Realtor with CRMLS assess that allow the buyer to control the process. They love it! Telling them what a Realtor can accomplish with CRMLS sells itself.
What I believe is the most beneficial answer to the "are we there yet" and other industry questions is affording the consumer access to "timely and accurate information" Most are hearing or reading housing reports that are being regurgitated from folks outside the Realtor and/or CRMLS ranks. This data is seldom recent and could be inaccurate on close review. I also take the opportunity to use an old hunting comment of "you eat what you kill" I emphasize that I am a full time Realtor and only get paid at close of escrow. I do not receive referrals or a good reputation for service by providing inaccurate or misleading information to clients. I do not get paid by advertisers paying for access to my web site to increase their exposure to my client base.
Like my fellow Realtors, I will provide my clients with access to the timely and accurate information and allow them to determine if we are there yet.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 (Cell)
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Thursday, April 18, 2013
Fattening Frogs For Snakes
Real Estate Education Training:
Doing The Heavy Lifting
The current Real Estate market has created an imbalance in the "available" supply versus demand for housing. What should be a buyer's market due to years of record setting foreclosures appears to be a seller's market with multiple offers, overbids and an increased number of pocket listings. Pocket listings are those properties held out of the California Regional Multiple Listing Service (CRMLS) by the listing agents to increase the listing agents chance of receiving the listing and selling commissions. By the way, FHA and VA buyers need not apply. Overbids and Multiple Offers usually mean that the only offers being considered are those thousands of dollars above the expected appraisal. FHA and VA offers may also come with repairs due to deferred maintenance and other costs that Cash or Conventional buyers might avoid. Thus the only real players in this situation will likely be Cash and/or Conventional buyers. I am especially concerned as a Vietnam Veteran that my fellow Veterans are truly at the bottom of the housing "food chain". Veterans fought for the freedom to maintain a system that now excludes us from participation.
This condition is also ripe for other bad characters using the low inventory as an excuse to get between those Realtors that have worked for months with buyers and often making multiple offers for homes on the buyers behalf. Those agents that knowingly mislead the buyers into thinking that only offers written on their listings by them will lead to acceptance are using fear as a bargaining chip to seduce other Realtor's clients. The Realtor that has worked for many months with the buyer educating them on the home buying process, conducting multiple housing tours and making other immeasurable investments are basically "fattening frogs for snakes". The rogue agent often tells the buyers that there are multiple offers on the home and that the seller wants a strong buyer that has been pre approved by their lender. The hard work and time put into helping the buyers may be lost if the buyers think that only the agent with direct access to the seller can get their offer accepted. We have all dealt with similar scenarios where this very subtle arm twisting has been applied.
I receive several messages via LinkedIn, Facebook and other social media from Realtors discussing their concern about the lack of conscience on the part of other agents. One told of a friend of over 30 years buying a property that left them out of the transaction after months of showing homes and writing multiple offers on the friends behalf. One Realtor mentioned that a buyer just stopped returning calls.
There are many other dirty deeds in play that may cause us continued discomfort including the increase in Pocket Listings. The seller may not truly understand the impact when allowing their listing agent to keep the listing out of CRMLS. Some may think their home and valuables are more secure by keeping the visits to a minimum and only when buyers are accompanied by the listing agent.
Our industry survives when the CRMLS rules and Code of Ethics are respected. We all benefit when they are enforced. We need to note and report any misuse by our fellow members of CRMLS Rules or the Code of Ethics if we want to maintain our standards for today's and future housing markets.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Doing The Heavy Lifting
The current Real Estate market has created an imbalance in the "available" supply versus demand for housing. What should be a buyer's market due to years of record setting foreclosures appears to be a seller's market with multiple offers, overbids and an increased number of pocket listings. Pocket listings are those properties held out of the California Regional Multiple Listing Service (CRMLS) by the listing agents to increase the listing agents chance of receiving the listing and selling commissions. By the way, FHA and VA buyers need not apply. Overbids and Multiple Offers usually mean that the only offers being considered are those thousands of dollars above the expected appraisal. FHA and VA offers may also come with repairs due to deferred maintenance and other costs that Cash or Conventional buyers might avoid. Thus the only real players in this situation will likely be Cash and/or Conventional buyers. I am especially concerned as a Vietnam Veteran that my fellow Veterans are truly at the bottom of the housing "food chain". Veterans fought for the freedom to maintain a system that now excludes us from participation.
This condition is also ripe for other bad characters using the low inventory as an excuse to get between those Realtors that have worked for months with buyers and often making multiple offers for homes on the buyers behalf. Those agents that knowingly mislead the buyers into thinking that only offers written on their listings by them will lead to acceptance are using fear as a bargaining chip to seduce other Realtor's clients. The Realtor that has worked for many months with the buyer educating them on the home buying process, conducting multiple housing tours and making other immeasurable investments are basically "fattening frogs for snakes". The rogue agent often tells the buyers that there are multiple offers on the home and that the seller wants a strong buyer that has been pre approved by their lender. The hard work and time put into helping the buyers may be lost if the buyers think that only the agent with direct access to the seller can get their offer accepted. We have all dealt with similar scenarios where this very subtle arm twisting has been applied.
I receive several messages via LinkedIn, Facebook and other social media from Realtors discussing their concern about the lack of conscience on the part of other agents. One told of a friend of over 30 years buying a property that left them out of the transaction after months of showing homes and writing multiple offers on the friends behalf. One Realtor mentioned that a buyer just stopped returning calls.
There are many other dirty deeds in play that may cause us continued discomfort including the increase in Pocket Listings. The seller may not truly understand the impact when allowing their listing agent to keep the listing out of CRMLS. Some may think their home and valuables are more secure by keeping the visits to a minimum and only when buyers are accompanied by the listing agent.
Our industry survives when the CRMLS rules and Code of Ethics are respected. We all benefit when they are enforced. We need to note and report any misuse by our fellow members of CRMLS Rules or the Code of Ethics if we want to maintain our standards for today's and future housing markets.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Tuesday, April 2, 2013
"2 and 1 Really Worked"
Real Estate Education Training: (www.teer1broker.blogspot.com)
Two Listings and One Sale
I was very fortunate to have been a part of the training team at a former Real Estate office and to have taught a Real Estate Finance class at a local Community College. The training classes at each were helpful for pre and post licensing students. The classes taught to prospective licensees were designed to assist them in passing the California exam and the Community College class also offered Continued Education (CE) credit. This was back in the mid 1980's just a few years after receiving my Real Estate Agent License in 1983 and my Real Estate Brokers License in 1986. The timing was good in several ways because I still remembered many of the areas covered on both the Real Estate Agent and Broker exams. I made a special note of what I did to pass the California exam(s). I emphasized the importance of completing the test questions at the end of each chapter on a regular basis and not relaxing until AFTER taking the California exam. My message was to retake each chapter test over and over until the results were over 90% of all answers on each chapter test being correct.
The post exam training focused on Real Estate Practise techniques. The training was usually geared to the philosophy of the Real Estate Franchise, as well as, sharing a few of my own "field" experiences. New agents are very malleable and are like a sponge when absorbing information. I too wanted as much information as I could secure from "tried and true" practitioners after becoming a Realtor. Those Realtors with regular monthly listing and/or sales success were the ones that I wanted to observe. I especially remember one newly licensed Realtor asking me how I responded to prospects that asked about Real Estate sales experience and references. I told the class that I did remember the anxiety experienced when heading out to my first listing appointment. The sellers did in fact want to know what experience I had in Real Estate sales and marketing. They wanted to know if I had access to the Multiple Listing Service (MLS) and a host of other things. I worked in an office with approximately 60 Realtors at the time so my response was that I had a large national franchise office behind me as well as a lot of other members of the MLS that would share in the commission if they brought us a buyer, etc. My "Achilles Heel" was the experience and number of listings inquiry. I did not have one single listing and had never closed a sale. I looked successful with my nice suit, shined shoes and clean automobile in their driveway but I had not earned one dime in Real Estate. I admitted that I did not have a track record. I shared that I was a new and full time Realtor and would have my entire day to commit to marketing their listing. I would not be distracted by a large inventory of buyers or sellers. I made it clear that I needed to sell their home and that I would only get paid if I did so. I shared my interest in doing Open Houses and other marketing tasks ( flyers, brochures, mailings, etc.). They agreed to give me the listing.
I wanted to succeed in my new "independent contractor" enterprise and was ready to put in the hours to be productive. It paid off because my first full year as a Realtor was (1984) and I was "Top Salesman" for my office of approximately 60 Realtors. My highest listings count for a single month in that office was 11 and my highest closed sales count was 9. Every month was productive with multiple listings and sales. I also made what was then called the Top Ten in my local Association (approximately 900 Realtors) in 1986. I know that having a family to raise and care for was a great motivator. I also believe that one can accomplish most tasks once they made up their minds to do whatever it takes to get the job done. Real Estate is a small business venture and investment for those who choose this line of work. Many of us come from more structured work environments where a paycheck is received on a regular basis. Real Estate can be more like a "real job" if certain commitments are made. One of the recommendations that an early Real Estate trainer made within a few weeks of my receiving my license and joining a very respected, then and now, franchise was to work for "2 Listings and 1 Sale" every month. He mentioned that having listings is like having every licensed Realtor and MLS member working for you to help you earn your living in Real Estate. We smiled when he said that "you can be on the beach in Hawaii and have someone back home putting money in your account by selling one of your listings". He also made a point to say that if you had listings it would increase your chance of getting paid multiple times a week. You would also have a combination of inventory, open escrows and closed sales. Further noting, that good work habits would often lead to months where more than 2 listings and 1 sale would occur.
I bought the idea and set a goal to earn at least 2 listings and 1 sale every month. It was slow go at first even with hitting the 2 listings and 1 sale a month mark. Listings must be promoted, buyers need to be shown affordable properties, etc. After a few months the listings began to increase and I experienced my first closed transaction. Median homes prices were approximately $65,000 so my share of the commission was around $800. It was my personal "Powerball"! My first commission was earned from an all cash sale of another Realtors listing and it closed in a few weeks. I could finally go home with a smile and some money in hand. My taking other agents floor time, doing Open Houses on my listings, showing homes with very little gas and other sacrifices had finally paid off! The 2 listings and 1 sale began to increase to a large inventory and several well qualified buyers. If I had to advise a new Realtor on a success model today, I would suggest knowing and actively using social media, become a member of the National Association of Realtors (NAR) Certified Residential Specialist (CRS), get involved in your community and work to secure a minimum of 2 Listings and 1 Sale every month. It really works!
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Two Listings and One Sale
I was very fortunate to have been a part of the training team at a former Real Estate office and to have taught a Real Estate Finance class at a local Community College. The training classes at each were helpful for pre and post licensing students. The classes taught to prospective licensees were designed to assist them in passing the California exam and the Community College class also offered Continued Education (CE) credit. This was back in the mid 1980's just a few years after receiving my Real Estate Agent License in 1983 and my Real Estate Brokers License in 1986. The timing was good in several ways because I still remembered many of the areas covered on both the Real Estate Agent and Broker exams. I made a special note of what I did to pass the California exam(s). I emphasized the importance of completing the test questions at the end of each chapter on a regular basis and not relaxing until AFTER taking the California exam. My message was to retake each chapter test over and over until the results were over 90% of all answers on each chapter test being correct.
The post exam training focused on Real Estate Practise techniques. The training was usually geared to the philosophy of the Real Estate Franchise, as well as, sharing a few of my own "field" experiences. New agents are very malleable and are like a sponge when absorbing information. I too wanted as much information as I could secure from "tried and true" practitioners after becoming a Realtor. Those Realtors with regular monthly listing and/or sales success were the ones that I wanted to observe. I especially remember one newly licensed Realtor asking me how I responded to prospects that asked about Real Estate sales experience and references. I told the class that I did remember the anxiety experienced when heading out to my first listing appointment. The sellers did in fact want to know what experience I had in Real Estate sales and marketing. They wanted to know if I had access to the Multiple Listing Service (MLS) and a host of other things. I worked in an office with approximately 60 Realtors at the time so my response was that I had a large national franchise office behind me as well as a lot of other members of the MLS that would share in the commission if they brought us a buyer, etc. My "Achilles Heel" was the experience and number of listings inquiry. I did not have one single listing and had never closed a sale. I looked successful with my nice suit, shined shoes and clean automobile in their driveway but I had not earned one dime in Real Estate. I admitted that I did not have a track record. I shared that I was a new and full time Realtor and would have my entire day to commit to marketing their listing. I would not be distracted by a large inventory of buyers or sellers. I made it clear that I needed to sell their home and that I would only get paid if I did so. I shared my interest in doing Open Houses and other marketing tasks ( flyers, brochures, mailings, etc.). They agreed to give me the listing.
I wanted to succeed in my new "independent contractor" enterprise and was ready to put in the hours to be productive. It paid off because my first full year as a Realtor was (1984) and I was "Top Salesman" for my office of approximately 60 Realtors. My highest listings count for a single month in that office was 11 and my highest closed sales count was 9. Every month was productive with multiple listings and sales. I also made what was then called the Top Ten in my local Association (approximately 900 Realtors) in 1986. I know that having a family to raise and care for was a great motivator. I also believe that one can accomplish most tasks once they made up their minds to do whatever it takes to get the job done. Real Estate is a small business venture and investment for those who choose this line of work. Many of us come from more structured work environments where a paycheck is received on a regular basis. Real Estate can be more like a "real job" if certain commitments are made. One of the recommendations that an early Real Estate trainer made within a few weeks of my receiving my license and joining a very respected, then and now, franchise was to work for "2 Listings and 1 Sale" every month. He mentioned that having listings is like having every licensed Realtor and MLS member working for you to help you earn your living in Real Estate. We smiled when he said that "you can be on the beach in Hawaii and have someone back home putting money in your account by selling one of your listings". He also made a point to say that if you had listings it would increase your chance of getting paid multiple times a week. You would also have a combination of inventory, open escrows and closed sales. Further noting, that good work habits would often lead to months where more than 2 listings and 1 sale would occur.
I bought the idea and set a goal to earn at least 2 listings and 1 sale every month. It was slow go at first even with hitting the 2 listings and 1 sale a month mark. Listings must be promoted, buyers need to be shown affordable properties, etc. After a few months the listings began to increase and I experienced my first closed transaction. Median homes prices were approximately $65,000 so my share of the commission was around $800. It was my personal "Powerball"! My first commission was earned from an all cash sale of another Realtors listing and it closed in a few weeks. I could finally go home with a smile and some money in hand. My taking other agents floor time, doing Open Houses on my listings, showing homes with very little gas and other sacrifices had finally paid off! The 2 listings and 1 sale began to increase to a large inventory and several well qualified buyers. If I had to advise a new Realtor on a success model today, I would suggest knowing and actively using social media, become a member of the National Association of Realtors (NAR) Certified Residential Specialist (CRS), get involved in your community and work to secure a minimum of 2 Listings and 1 Sale every month. It really works!
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Monday, April 1, 2013
"Influencers" Can Help You!
Real Estate Education Training:
Get Influencers on Board!
I started my Real Estate career in 1983 after working several equally enjoyable "real jobs" for many years. Those pre Real Estate positions were usually well defined and there were specific tasks that needed to be completed to get off probation, secure health care and other benefits that came with permanent full time employment status. I also went to work at a certain time and left at an established time. Not a lot of guess work and the chain of command in the work place was known from day one. You reported to this person or that person and they did your evaluations, recommendations for promotions and etc. Pretty simple and often easy to navigate once you got the hang of it. You did the job and received a pay check.
As stated above, I entered the world of Real Estate with tried and true ideas on how to be successful from past work experiences. The rules for success in Real Estate sales were in some ways similar but in other ways quite different. I placed my license with a very respectable national organization that offered great Real Estate training. I learned that if you followed proven techniques you would have a good chance at success. I remember one of the managers saying "dress for success". I came to the office in my suits from my management career and felt that I was hitting the mark in that arena. I also attended the office meetings to observe the rest of the sales team. I wanted to identify the top sales person(s) and learn by observation their work habits, tools and other techniques for success. I noticed that they all had a home office for the "top secret" work. This usually included direct marketing materials and contact calls that required a level of privacy. I also noted that they did not sit around the office drinking coffee and making a lot of small talk. Their time was disciplined to keep their production strong. They also received a lot of praise from management. During weekly office meetings these "top producers" received top sales, top listing, and top closed sales transaction awards. I noticed that the same small group seemed to earn compliments in one or more categories in every meeting.
You learned very quickly that this group did not do a lot of socializing around the office after meetings. They seemed very friendly when they needed someone to do their "floor time". Floor time, opportunity time or other names given to shifts (2 to 4 hours) answering the phone, taking messages and greeting walk in client prospects was not as highly valued by top producers. One top producer equated floor time to being a "glorified message taker". Newer agents often welcomed the floor time as a way to get business. I was anxious to secure floor time during my first year in Real Estate as well. I secured several clients via "up calls" or "walk ins". These clients were not attached to an agent in the office and sometimes were anxious to get assistance with their housing needs right away.
Another benefit of attending the "mandatory" office meetings was the opportunity to hear the pep talks, industry related success presentations from management and a few top producing agents wanting to bask in the sunshine. My grand father often said "that it is a poor dog that won't wag his own tail"!
There were always productive agents that enjoyed telling of a big deal or tough transaction that their skills allowed them to close. One agent mentioned that he always liked to involve the parents, siblings or other "influencers" early in the deal. He mentioned that during the initial interview he would try to identify anyone whose approval the client might seek. He mentioned that he was especially keen on getting that individual on board as soon as possible. He said that he would ask if the client "wanted to invite anyone else to see the property BEFORE writing an offer". His belief was that first time buyers were more apt to desire a second opinion from a parent or other influencer. He also referenced a transaction early in his career where the influencer attended the "final walk through inspection" prior to the client signing loan documents and closing the transaction that went sideways when a parent expressed dissatisfaction. He found himself back to square one! Several weeks of getting all the paper work and other tasks completed went right out the window. He said that he believes that all the other tasks are still important but failing to involve the influencer early in the transaction can be just as much a deal killer as a home inspection that identifies a number of expensive repairs due to deferred maintenance.
A home is often touted as one of the most expensive investments that a family will make. Taking an extra tour of the property with the clients and their influencer(s) is one of the least expensive investments that we can make.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Get Influencers on Board!
I started my Real Estate career in 1983 after working several equally enjoyable "real jobs" for many years. Those pre Real Estate positions were usually well defined and there were specific tasks that needed to be completed to get off probation, secure health care and other benefits that came with permanent full time employment status. I also went to work at a certain time and left at an established time. Not a lot of guess work and the chain of command in the work place was known from day one. You reported to this person or that person and they did your evaluations, recommendations for promotions and etc. Pretty simple and often easy to navigate once you got the hang of it. You did the job and received a pay check.
As stated above, I entered the world of Real Estate with tried and true ideas on how to be successful from past work experiences. The rules for success in Real Estate sales were in some ways similar but in other ways quite different. I placed my license with a very respectable national organization that offered great Real Estate training. I learned that if you followed proven techniques you would have a good chance at success. I remember one of the managers saying "dress for success". I came to the office in my suits from my management career and felt that I was hitting the mark in that arena. I also attended the office meetings to observe the rest of the sales team. I wanted to identify the top sales person(s) and learn by observation their work habits, tools and other techniques for success. I noticed that they all had a home office for the "top secret" work. This usually included direct marketing materials and contact calls that required a level of privacy. I also noted that they did not sit around the office drinking coffee and making a lot of small talk. Their time was disciplined to keep their production strong. They also received a lot of praise from management. During weekly office meetings these "top producers" received top sales, top listing, and top closed sales transaction awards. I noticed that the same small group seemed to earn compliments in one or more categories in every meeting.
You learned very quickly that this group did not do a lot of socializing around the office after meetings. They seemed very friendly when they needed someone to do their "floor time". Floor time, opportunity time or other names given to shifts (2 to 4 hours) answering the phone, taking messages and greeting walk in client prospects was not as highly valued by top producers. One top producer equated floor time to being a "glorified message taker". Newer agents often welcomed the floor time as a way to get business. I was anxious to secure floor time during my first year in Real Estate as well. I secured several clients via "up calls" or "walk ins". These clients were not attached to an agent in the office and sometimes were anxious to get assistance with their housing needs right away.
Another benefit of attending the "mandatory" office meetings was the opportunity to hear the pep talks, industry related success presentations from management and a few top producing agents wanting to bask in the sunshine. My grand father often said "that it is a poor dog that won't wag his own tail"!
There were always productive agents that enjoyed telling of a big deal or tough transaction that their skills allowed them to close. One agent mentioned that he always liked to involve the parents, siblings or other "influencers" early in the deal. He mentioned that during the initial interview he would try to identify anyone whose approval the client might seek. He mentioned that he was especially keen on getting that individual on board as soon as possible. He said that he would ask if the client "wanted to invite anyone else to see the property BEFORE writing an offer". His belief was that first time buyers were more apt to desire a second opinion from a parent or other influencer. He also referenced a transaction early in his career where the influencer attended the "final walk through inspection" prior to the client signing loan documents and closing the transaction that went sideways when a parent expressed dissatisfaction. He found himself back to square one! Several weeks of getting all the paper work and other tasks completed went right out the window. He said that he believes that all the other tasks are still important but failing to involve the influencer early in the transaction can be just as much a deal killer as a home inspection that identifies a number of expensive repairs due to deferred maintenance.
A home is often touted as one of the most expensive investments that a family will make. Taking an extra tour of the property with the clients and their influencer(s) is one of the least expensive investments that we can make.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Saturday, March 30, 2013
Preparing for NAR Washington Meeting!
Real Estate Education Training:
DC Hill Visits are very effective!
Start making contact with your Members of the House and Senate for some "face time" at the NAR Washington DC meeting! It seems like just yesterday that we were in Washington DC meeting with our elected officials and requesting support for a number of National Association of Realtors (NAR) housing related issues. It reminds me of the old Superman series voice over " for truth, justice and the American way!" We have our various State Association of Realtors meetings across the country with varying frequencies, however, the grand daddy of them all is the NAR Washington DC meeting. Washington DC is truly the most effective meeting place for our Realtor leadership from across the country. Working together with our elected representatives, staff and volunteers to protect the rights of home ownership is always a learning experience. Congressman Ken Calvert, R-CA has always been a true friend to our industry and has worked to help us keep the benefits of homeownership in tact. He and other elected representatives are true friends.
The NAR meetings in DC are always filled with valuable Real Estate information. The committee meetings and forums offer new and updated information regarding the state of our industry. Our NAR Research Staff lead by Dr. Lawrence Yun is superb! The briefings are always well attended. The Research staff reports are shared with major news media and Realtor members across the country. This helps keep the public and Realtor members informed on housing trends. Data from our Research Staff and Committee is used to shape the discourse on the local, state and national levels. Special thanks to all our dedicated committee staff and volunteer members for making our meetings informative and worth every effort made to attend.
One of the best places to review the new technological advances and Real Estate related products for our industry is at the Expo. Exhibitors from across the country set up booths with everything from computers to business attire. It is always a treat to see the exhibitors demonstrate the software designed specifically for Realtors. I am drawn to several "regulars" like Top Producer and our Realtor Store. There are so many vendors with an array of products designed to help us better serve our clients. It takes several hours just to navigate the Expo and it is well worth it!
One of my all time favorite DC meetings included the Realtor Rally. Thousands of Realtor members wearing the Realtor Blue T Shirts gathered on the mall to hear presentations by our NAR President Moe Veissi, Realtor friendly Elected Officials and other industry leaders. NAREB President Julius Cartwright commented that "the Realtor Leadership very graciously allowed me and other industry spokesmen the opportunity to participate". Realtor Tom Salamone did an excellent job as Master of Ceremony. We were very proud to have made our presence known in a very positive demonstration of Realtor Pride. That was a special event of enormous magnitude and it will be remembered for many years to come!
Let's talk about some other great and fun reasons for going to the Washington DC meeting. Monuments to our nations leaders abound! One year we walked from the Wardman Park Marriott to Arlington National Cemetery. It took the entire day but we made stops along the way at several very interesting places including Embassy Row, the Corcoran Gallery of Art, Lincoln Monument and a few restaurants. There are so many great eateries to visit and enjoy fantastic meals. We always enjoy Adams Morgan, Georgetown and the majestic federal buildings around the city. Walking is always a great way to see more detail but one can always opt to ride the very affordable Metro Trains. Getting around DC in the Metro Train is often much quicker and always less expensive than cabbing through heavy traffic. Several of my favorite restaurants are easily accessed by Metro including Maggianos, B. Smith's and Old Ebbitt Grill.
We truly appreciate all the effort that goes into making our DC meeting a must attend annual event. State and National Staff members, as well as, Volunteers work diligently to provide beneficial activities for Realtor members from across the country and abroad. Every Realtor should attend a DC meeting. I believe that the experience will be one of the very best opportunities to learn and share.
DC Hill Visits are very effective!
Start making contact with your Members of the House and Senate for some "face time" at the NAR Washington DC meeting! It seems like just yesterday that we were in Washington DC meeting with our elected officials and requesting support for a number of National Association of Realtors (NAR) housing related issues. It reminds me of the old Superman series voice over " for truth, justice and the American way!" We have our various State Association of Realtors meetings across the country with varying frequencies, however, the grand daddy of them all is the NAR Washington DC meeting. Washington DC is truly the most effective meeting place for our Realtor leadership from across the country. Working together with our elected representatives, staff and volunteers to protect the rights of home ownership is always a learning experience. Congressman Ken Calvert, R-CA has always been a true friend to our industry and has worked to help us keep the benefits of homeownership in tact. He and other elected representatives are true friends.
The NAR meetings in DC are always filled with valuable Real Estate information. The committee meetings and forums offer new and updated information regarding the state of our industry. Our NAR Research Staff lead by Dr. Lawrence Yun is superb! The briefings are always well attended. The Research staff reports are shared with major news media and Realtor members across the country. This helps keep the public and Realtor members informed on housing trends. Data from our Research Staff and Committee is used to shape the discourse on the local, state and national levels. Special thanks to all our dedicated committee staff and volunteer members for making our meetings informative and worth every effort made to attend.
One of the best places to review the new technological advances and Real Estate related products for our industry is at the Expo. Exhibitors from across the country set up booths with everything from computers to business attire. It is always a treat to see the exhibitors demonstrate the software designed specifically for Realtors. I am drawn to several "regulars" like Top Producer and our Realtor Store. There are so many vendors with an array of products designed to help us better serve our clients. It takes several hours just to navigate the Expo and it is well worth it!
One of my all time favorite DC meetings included the Realtor Rally. Thousands of Realtor members wearing the Realtor Blue T Shirts gathered on the mall to hear presentations by our NAR President Moe Veissi, Realtor friendly Elected Officials and other industry leaders. NAREB President Julius Cartwright commented that "the Realtor Leadership very graciously allowed me and other industry spokesmen the opportunity to participate". Realtor Tom Salamone did an excellent job as Master of Ceremony. We were very proud to have made our presence known in a very positive demonstration of Realtor Pride. That was a special event of enormous magnitude and it will be remembered for many years to come!
Let's talk about some other great and fun reasons for going to the Washington DC meeting. Monuments to our nations leaders abound! One year we walked from the Wardman Park Marriott to Arlington National Cemetery. It took the entire day but we made stops along the way at several very interesting places including Embassy Row, the Corcoran Gallery of Art, Lincoln Monument and a few restaurants. There are so many great eateries to visit and enjoy fantastic meals. We always enjoy Adams Morgan, Georgetown and the majestic federal buildings around the city. Walking is always a great way to see more detail but one can always opt to ride the very affordable Metro Trains. Getting around DC in the Metro Train is often much quicker and always less expensive than cabbing through heavy traffic. Several of my favorite restaurants are easily accessed by Metro including Maggianos, B. Smith's and Old Ebbitt Grill.
We truly appreciate all the effort that goes into making our DC meeting a must attend annual event. State and National Staff members, as well as, Volunteers work diligently to provide beneficial activities for Realtor members from across the country and abroad. Every Realtor should attend a DC meeting. I believe that the experience will be one of the very best opportunities to learn and share.
Friday, March 29, 2013
Curb Appeal Sells!
Real Estate Education Training:
Is This a Good Neighborhood?
I believe that one can tell a "good neighborhood" by noticing if there are more folks jogging, walking or bike riding than there are unattended or stray dogs running around. We cannot "steer" clients so I do a lot of "advising" when showing property. Steering is illegal! There are a lot of ways to avoid steering when responding to the "is this a good neighborhood" question? I advise them to call the local School District (www.miketeer.com for School Reports) for information on the schools that their kids will attend K-12 and ask for information. I also tell them to call the Police Department and ask for crime and other statistical data regarding the neighborhood. Where is the nearest Fire Station? I am always pleased to inform my clients on how to get information that will answer their questions about the safety and desirability of the homes in the area during our home tours.
Sometimes the job is made easier by observing the exterior condition of the homes. A quick glance at the lawn, sidewalks and streets will tell you a lot about the efforts of current homeowners. Lawns that are overgrown or poorly maintained provides a good indication regarding pride of ownership or the lack thereof. Paint or stucco condition?
I take a good look at the roofs on homes in older neighborhoods to see if they are have been upgraded with modern roofing materials. Roofs composed of outdated rock or wooden materials are a concern to me. A home with a roof made from worn materials may be troublesome and in need of work within a few years of occupancy. Roofs are very expensive to replace so the existence of an obsolescent roof is a strong indicator of a neighborhood that might be in decline.
Checking with the Police Department as noted above is always a good idea. A careful look at the homes on the block will also give a good indication of the current residents efforts to remain safe. Bars on the first floor windows can be considered a hint - bars on second or higher floors is a message that there are some real concerns! Security systems are very common in many neighborhoods and there are often yard signs noting which security company is providing the protection. Security bars on the other hand serve to imprison the occupants.
I generally advise the buyer prospect to take an evening and week end drive through the area. This allows the prospect to see the neighborhood residents, observe noise levels and see for themselves if occupants are working to maintain their homes. Code enforcement laws generally dictate basic standards in many cities but enforcement levels vary.
Be sure to pay attention to the condition of the driveways. Automobiles in poor condition often leave oil and other stains. Multiple stains on driveways might indicate a long period of poor vehicle maintenance or indicate that the driveway is used for regular automobile repairs. Neighborhood pride will shine through. Deferred maintenance is also very obvious. Watch for tell tale signs. Contact the School District and Police Departments and ask for information. Find the nearest Fire Station. Visit the neighborhood in the evening and on week ends.
Finally, be sure to note which services are offered in the neighborhood shopping center. Amenities such as a well stocked grocery store, pharmacy, bank branch(s) and other essential businesses generally demonstrate a strong and functional community. I have always appreciated the way Riverside and other Cities maintain the public areas. Regular street sweeping and keeping the neighborhoods free of debris really makes a positive statement.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Is This a Good Neighborhood?
I believe that one can tell a "good neighborhood" by noticing if there are more folks jogging, walking or bike riding than there are unattended or stray dogs running around. We cannot "steer" clients so I do a lot of "advising" when showing property. Steering is illegal! There are a lot of ways to avoid steering when responding to the "is this a good neighborhood" question? I advise them to call the local School District (www.miketeer.com for School Reports) for information on the schools that their kids will attend K-12 and ask for information. I also tell them to call the Police Department and ask for crime and other statistical data regarding the neighborhood. Where is the nearest Fire Station? I am always pleased to inform my clients on how to get information that will answer their questions about the safety and desirability of the homes in the area during our home tours.
Sometimes the job is made easier by observing the exterior condition of the homes. A quick glance at the lawn, sidewalks and streets will tell you a lot about the efforts of current homeowners. Lawns that are overgrown or poorly maintained provides a good indication regarding pride of ownership or the lack thereof. Paint or stucco condition?
I take a good look at the roofs on homes in older neighborhoods to see if they are have been upgraded with modern roofing materials. Roofs composed of outdated rock or wooden materials are a concern to me. A home with a roof made from worn materials may be troublesome and in need of work within a few years of occupancy. Roofs are very expensive to replace so the existence of an obsolescent roof is a strong indicator of a neighborhood that might be in decline.
Checking with the Police Department as noted above is always a good idea. A careful look at the homes on the block will also give a good indication of the current residents efforts to remain safe. Bars on the first floor windows can be considered a hint - bars on second or higher floors is a message that there are some real concerns! Security systems are very common in many neighborhoods and there are often yard signs noting which security company is providing the protection. Security bars on the other hand serve to imprison the occupants.
I generally advise the buyer prospect to take an evening and week end drive through the area. This allows the prospect to see the neighborhood residents, observe noise levels and see for themselves if occupants are working to maintain their homes. Code enforcement laws generally dictate basic standards in many cities but enforcement levels vary.
Be sure to pay attention to the condition of the driveways. Automobiles in poor condition often leave oil and other stains. Multiple stains on driveways might indicate a long period of poor vehicle maintenance or indicate that the driveway is used for regular automobile repairs. Neighborhood pride will shine through. Deferred maintenance is also very obvious. Watch for tell tale signs. Contact the School District and Police Departments and ask for information. Find the nearest Fire Station. Visit the neighborhood in the evening and on week ends.
Finally, be sure to note which services are offered in the neighborhood shopping center. Amenities such as a well stocked grocery store, pharmacy, bank branch(s) and other essential businesses generally demonstrate a strong and functional community. I have always appreciated the way Riverside and other Cities maintain the public areas. Regular street sweeping and keeping the neighborhoods free of debris really makes a positive statement.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
Friday, March 22, 2013
Spring Cleaning Time
Real Estate Education Training:
Great Time to Get Organized
Every year I find myself looking for a way to eliminate clutter and find that extra bit of space for all the things that I just had to have. A lot of gadgets, advertising brochures and other items are still in the original container, box or bag used to haul them to the office or home. Having left them unused over a period of time is a sign that I really do not need these things to survive.
I find that I am truly hooked on all the hand outs given to me by the many vendors at our California and National Association of Realtors (CAR and NAR respectively) Expos. It almost seems unfriendly to walk past the folks there representing so many very useful firms and not at least smile and take the item. They are always so pleasant and you just find it hard to not be receptive. I have the same problem when going to our neighborhood store during Girl Scout Cookie sales campaigns. I have brought home and ended up giving away a number of boxes of short bread, chocolate mint and other cookies because I know the young ladies are raising money for their organization.
Someone once told me that if I had a box on a shelf that I had not opened in a very long time that I should just throw it away without even bothering to look inside. I still do not have the guts to take that advice. Every time I think that I should do just that I open the box and find something that I still consider valuable. So I usually end up taking the time to sort through it. There are times when the valuables are only about 10% of the contents but I still think it is worth it to reduce the chance that a valuable photo, trinket or who knows what might be thrown away.
We all hear the time change comments reminding us to set our clocks ahead one hour. We were also reminded that this was a good time to change batteries in our smoke and carbon monoxide detectors. I was very pleased to get the extra hour in the evenings. This extra daylight made it better for driving home from work, shopping or chores since it gets dark an hour later. The trade for the extra daylight in the evenings was getting up in the morning in the dark.
All said it is still good to use this time change and extra daylight in the evenings to pull out the cleaning supplies, move furniture and haul any unneeded items to the Goodwill. I feel compelled to put a plug in for Veterans Organizations that solicit usable items as well. It is also suggested that you open all screened windows and doors to allow the fresh air and smell of flowers into the home. This beats using air fresheners and also allows you to hear the birds as they use their extra daylight time to serenade us.
I find it works best for me to start in our garage. Eliminating unused and unwanted items gives me more room for rotating items from the house that still hold value. I always pull up the trash cans to the garage door for easy use in throwing the items away. I am sometimes tempted to put a few items to the side in case a family member or friend might care to take it home but I am getting better at not putting them on the spot. They may not want to hang a picture of something that I am throwing away in their home.
The extra space in the garage is best used by placing and anchoring sturdy shelving units against the walls. Careful not to block electrical outlets, light sources and other items that you might need to access. I erred a few times and blocked the automatic sprinkler system controls and had to sit through several days of a heavy rain cycle watching my sprinkler system adding to the problem of too much water.
Make sure that you have good boxes or other strong storage containers. This makes packing and stacking your precious belongings on the shelves in an orderly manner.
Finally, do one room at a time from top to bottom and allow ample time to complete the work. The last task will likely be the mopping or vacuuming of the flooring. This allows you to really get at it with dusting and other chores. There are many other suggestions out there that will make our Spring cleaning (purging) more organized and I am open for hearing more ways to enjoy the extra day light without clutter.
Great Time to Get Organized
Every year I find myself looking for a way to eliminate clutter and find that extra bit of space for all the things that I just had to have. A lot of gadgets, advertising brochures and other items are still in the original container, box or bag used to haul them to the office or home. Having left them unused over a period of time is a sign that I really do not need these things to survive.
I find that I am truly hooked on all the hand outs given to me by the many vendors at our California and National Association of Realtors (CAR and NAR respectively) Expos. It almost seems unfriendly to walk past the folks there representing so many very useful firms and not at least smile and take the item. They are always so pleasant and you just find it hard to not be receptive. I have the same problem when going to our neighborhood store during Girl Scout Cookie sales campaigns. I have brought home and ended up giving away a number of boxes of short bread, chocolate mint and other cookies because I know the young ladies are raising money for their organization.
Someone once told me that if I had a box on a shelf that I had not opened in a very long time that I should just throw it away without even bothering to look inside. I still do not have the guts to take that advice. Every time I think that I should do just that I open the box and find something that I still consider valuable. So I usually end up taking the time to sort through it. There are times when the valuables are only about 10% of the contents but I still think it is worth it to reduce the chance that a valuable photo, trinket or who knows what might be thrown away.
We all hear the time change comments reminding us to set our clocks ahead one hour. We were also reminded that this was a good time to change batteries in our smoke and carbon monoxide detectors. I was very pleased to get the extra hour in the evenings. This extra daylight made it better for driving home from work, shopping or chores since it gets dark an hour later. The trade for the extra daylight in the evenings was getting up in the morning in the dark.
All said it is still good to use this time change and extra daylight in the evenings to pull out the cleaning supplies, move furniture and haul any unneeded items to the Goodwill. I feel compelled to put a plug in for Veterans Organizations that solicit usable items as well. It is also suggested that you open all screened windows and doors to allow the fresh air and smell of flowers into the home. This beats using air fresheners and also allows you to hear the birds as they use their extra daylight time to serenade us.
I find it works best for me to start in our garage. Eliminating unused and unwanted items gives me more room for rotating items from the house that still hold value. I always pull up the trash cans to the garage door for easy use in throwing the items away. I am sometimes tempted to put a few items to the side in case a family member or friend might care to take it home but I am getting better at not putting them on the spot. They may not want to hang a picture of something that I am throwing away in their home.
The extra space in the garage is best used by placing and anchoring sturdy shelving units against the walls. Careful not to block electrical outlets, light sources and other items that you might need to access. I erred a few times and blocked the automatic sprinkler system controls and had to sit through several days of a heavy rain cycle watching my sprinkler system adding to the problem of too much water.
Make sure that you have good boxes or other strong storage containers. This makes packing and stacking your precious belongings on the shelves in an orderly manner.
Finally, do one room at a time from top to bottom and allow ample time to complete the work. The last task will likely be the mopping or vacuuming of the flooring. This allows you to really get at it with dusting and other chores. There are many other suggestions out there that will make our Spring cleaning (purging) more organized and I am open for hearing more ways to enjoy the extra day light without clutter.
Friday, March 15, 2013
Do Veterans Deserve Fair Access to Housing?
Real Estate Education Training:
Are Veterans Being Denied Housing?
Let me disclose that I am a Service Connected Disabled Veteran. I served in Vietnam from 1965-1966 in many locations including Saigon (MACV Headquarters) and Pleiku (25th Infantry) in the communication centers. I am proud to have had the honor of serving my country and I am very thankful to have survived my tour of duty in Vietnam. I should also state that I am a homeowner and have been in my present home since 1986. I do not plan to purchase another home.
I have had the pleasure of working with many Veterans during my 30 years as a licensed real estate agent/broker. It always made me especially proud to help my fellow Veterans. I remember so many transactions where the Veteran and his family were so thrilled to receive the keys to their new home that they were moved to tears while thanking me for my work. I must admit that I was especially proud to have been a part of their journey.
The VA loan, like many loans, changes from time to time. There have been several beneficial modifications to the rules designed to make the VA Loan more competitive. It is, and always has been, difficult for buyers using VA loans to compete with Cash, Conventional and even FHA loans. Cash, especially "as is" Cash offers are generally winners. VA and FHA loans may also share similar fates when a Conventional offer is in the competition.
My concern over the years has been whether we, as a nation, believe our Veterans deserve fair access to housing. I cannot speak for Veterans but I believe I can comfortably speak up for Veterans. I can also speak from personal experience. My first effort at home ownership was in 1970. We made an offer on a home in University City, MO. Our offer was full price and we were asking the seller to pay our closing costs. We were competing with another offer which was accepted and our offer was rejected. Per the agent, the seller did not want to pay our closing costs and felt a counter offer was not worth making because they did not want to sell to a VA buyer. The Seller expressed concerns about other problems that might occur with the VA appraisal, etc.
Low inventory also adds to the problem of getting a VA offer accepted. Many sellers still see the VA loan as a potential nightmare and this hurts our present day heroes. We must find a way to help. The Veteran buyer using his or her VA loan should not be seen by Sellers as an escrow obstacle course. This will only happen if we demand legislation that will improve the perception of the VA loan and eliminate every possible expense to Veterans. Further, Sellers should not be asked to pick up any costs that they would not normally incur with other buyers. Our Veterans deserve a true "VA No No" loan with no down payment and no closing costs. We need to find an elected representative to draft a bill (with real estate industry support) and secure passage of legislation that will make this happen.
Are Veterans Being Denied Housing?
Let me disclose that I am a Service Connected Disabled Veteran. I served in Vietnam from 1965-1966 in many locations including Saigon (MACV Headquarters) and Pleiku (25th Infantry) in the communication centers. I am proud to have had the honor of serving my country and I am very thankful to have survived my tour of duty in Vietnam. I should also state that I am a homeowner and have been in my present home since 1986. I do not plan to purchase another home.
I have had the pleasure of working with many Veterans during my 30 years as a licensed real estate agent/broker. It always made me especially proud to help my fellow Veterans. I remember so many transactions where the Veteran and his family were so thrilled to receive the keys to their new home that they were moved to tears while thanking me for my work. I must admit that I was especially proud to have been a part of their journey.
The VA loan, like many loans, changes from time to time. There have been several beneficial modifications to the rules designed to make the VA Loan more competitive. It is, and always has been, difficult for buyers using VA loans to compete with Cash, Conventional and even FHA loans. Cash, especially "as is" Cash offers are generally winners. VA and FHA loans may also share similar fates when a Conventional offer is in the competition.
My concern over the years has been whether we, as a nation, believe our Veterans deserve fair access to housing. I cannot speak for Veterans but I believe I can comfortably speak up for Veterans. I can also speak from personal experience. My first effort at home ownership was in 1970. We made an offer on a home in University City, MO. Our offer was full price and we were asking the seller to pay our closing costs. We were competing with another offer which was accepted and our offer was rejected. Per the agent, the seller did not want to pay our closing costs and felt a counter offer was not worth making because they did not want to sell to a VA buyer. The Seller expressed concerns about other problems that might occur with the VA appraisal, etc.
Low inventory also adds to the problem of getting a VA offer accepted. Many sellers still see the VA loan as a potential nightmare and this hurts our present day heroes. We must find a way to help. The Veteran buyer using his or her VA loan should not be seen by Sellers as an escrow obstacle course. This will only happen if we demand legislation that will improve the perception of the VA loan and eliminate every possible expense to Veterans. Further, Sellers should not be asked to pick up any costs that they would not normally incur with other buyers. Our Veterans deserve a true "VA No No" loan with no down payment and no closing costs. We need to find an elected representative to draft a bill (with real estate industry support) and secure passage of legislation that will make this happen.
Monday, March 11, 2013
Preparing for CAR Sacramento!
Real Estate Education Training:
CAR Sacramento is just around the corner!
Our annual visit to Sacramento is always filled with excitement! I have been fortunate to make the trip since 1994 and I still look forward to the information and networking opportunities provided by our California Association of Realtors (CAR) Staff and Volunteers. This is always a popular CAR meeting and is often the largest. The other two annual CAR meetings are rotated among other popular California Cities (Northern and Southern) but Sacramento in my opinion is still the main attraction. The visits with our Legislators are always a highlight. We are afforded in office "face time" with our hometown and other elected California Leadership and given the opportunity to discuss Real Estate industry topics of interest that enhance our ability to help our clients. This years meeting will be just as exciting and informative. We have several new Assembly members and Senators representing us and staff changes as a result of the November elections. The Inland Empire has newly elected Assembly members Cheryl Brown and Jose Medina. Senator Richard Roth is also a new member of our California Legislature. I am sure that we will meet with these and other new members to share our common interest on housing related issues.
Our CAR Staff also convenes an orientation/issues briefing to help us better present the Real Estate related issues to our elected officials during the visit. Office visits with each legislator are about one half hour and it is crucial that this time be well used to convey our industry concerns, etc. This is NOT a time to be used to discuss non Real Estate issues or personal problems. CAR Staff and Volunteers have developed videos and other training materials emphasizing the proper protocol for visits with our Legislators. We are reminded that we cannot give or discuss money donated during the meeting with Legislators.
The Legislative Reception is also a great opportunity to chat with and introduce our elected officials in an informal setting. This tradition is very special and always has overflow attendance with elected officials and other Real Estate industry movers and shakers. The Reception is on Wednesday during the CAR meeting.
I enjoy the networking with my many Realtors friends from up and down the state. My nearly two decades of attending CAR meetings has helped me forge some valuable business and personal relationships. If a California Realtor is going to attend one meeting a year, it will likely be the CAR Sacramento meeting. CAR meetings always offer an array of industry related committee meetings, guest speaker events and more to keep you up to date on our business. Sacramento is easily reached by ground or air transportation. Some Realtor members car pool to help defray their costs. Some also share a room to further reduce the expense.
If you are planning to attend the CAR Sacramento meeting this is a great time to begin making travel and hotel arrangements. First, inform your Local Association Staff and let them know that you plan to go. You might also inquire whether there are key meetings, luncheons or other events during the Sacramento meeting. This information will help you get the most out of the meeting. Staff can also direct you on registration and other steps that will make the investment worthwhile. You will likely need to make your own travel and hotel room registrations. The sooner you begin the process the better choices for hotels near the Sacramento Convention Center. Be sure to go to the www.car.org web site for additional information about the meeting and other Realtor benefits.
CAR Sacramento is just around the corner!
Our annual visit to Sacramento is always filled with excitement! I have been fortunate to make the trip since 1994 and I still look forward to the information and networking opportunities provided by our California Association of Realtors (CAR) Staff and Volunteers. This is always a popular CAR meeting and is often the largest. The other two annual CAR meetings are rotated among other popular California Cities (Northern and Southern) but Sacramento in my opinion is still the main attraction. The visits with our Legislators are always a highlight. We are afforded in office "face time" with our hometown and other elected California Leadership and given the opportunity to discuss Real Estate industry topics of interest that enhance our ability to help our clients. This years meeting will be just as exciting and informative. We have several new Assembly members and Senators representing us and staff changes as a result of the November elections. The Inland Empire has newly elected Assembly members Cheryl Brown and Jose Medina. Senator Richard Roth is also a new member of our California Legislature. I am sure that we will meet with these and other new members to share our common interest on housing related issues.
Our CAR Staff also convenes an orientation/issues briefing to help us better present the Real Estate related issues to our elected officials during the visit. Office visits with each legislator are about one half hour and it is crucial that this time be well used to convey our industry concerns, etc. This is NOT a time to be used to discuss non Real Estate issues or personal problems. CAR Staff and Volunteers have developed videos and other training materials emphasizing the proper protocol for visits with our Legislators. We are reminded that we cannot give or discuss money donated during the meeting with Legislators.
The Legislative Reception is also a great opportunity to chat with and introduce our elected officials in an informal setting. This tradition is very special and always has overflow attendance with elected officials and other Real Estate industry movers and shakers. The Reception is on Wednesday during the CAR meeting.
I enjoy the networking with my many Realtors friends from up and down the state. My nearly two decades of attending CAR meetings has helped me forge some valuable business and personal relationships. If a California Realtor is going to attend one meeting a year, it will likely be the CAR Sacramento meeting. CAR meetings always offer an array of industry related committee meetings, guest speaker events and more to keep you up to date on our business. Sacramento is easily reached by ground or air transportation. Some Realtor members car pool to help defray their costs. Some also share a room to further reduce the expense.
If you are planning to attend the CAR Sacramento meeting this is a great time to begin making travel and hotel arrangements. First, inform your Local Association Staff and let them know that you plan to go. You might also inquire whether there are key meetings, luncheons or other events during the Sacramento meeting. This information will help you get the most out of the meeting. Staff can also direct you on registration and other steps that will make the investment worthwhile. You will likely need to make your own travel and hotel room registrations. The sooner you begin the process the better choices for hotels near the Sacramento Convention Center. Be sure to go to the www.car.org web site for additional information about the meeting and other Realtor benefits.
Sunday, March 10, 2013
Is the NAR Variable Dues Fair?
Real Estate Education Training:
Why the NAR Variable Dues Formula Works!
I recently received and viewed a video (PWRMinute) featuring our Pacific West Association of Realtors 2013 President and Treasurer, Al Ricci and Phil Jones, respectively. They were discussing the National Association of Realtors (NAR) Variable Dues Formula and that everyone had to pay it. They also emphasized that the formula was being applied by ALL Associations so making a change would not exempt you from paying. The Variable Dues Formula is computed by comparing the number of dues paying Realtor members carried on each firms roster to the number of real estate licensees shown on the California Department of Real Estate roster assigned to that firm. My first reaction was oh oh - another hit on my budget. But then I remembered conversations over the years where some of us wondered how fair it was for approximately 160 thousand dues paying Realtor members to carry water for the approximately 500 thousand plus or minus real estate licensees noted on the California Department of Real Estate rosters. A real estate licensee is NOT always a Realtor. This means that all the volunteer hours, money and other resources invested annually by California Realtor members was also helping all real estate licensees earn a living in our industry. It stands to reason that there are nationally even more real estate licensees being allowed to drink water from the wells dug by our Realtor members.
Per the PWRMinute video and other written communication, Designated Realtors will need to pay the Variable Dues Formula dollar amount based on the number of DRE registered licensed real estate agents in the Designated Realtors office. More specific information is also available in the Questions & Answers (Q&A) provided by your local association. The PWRMinute video featuring Pacific West Association leadership was a very good "heads up"regarding emails and letters that were coming our way.
Why is the NAR Variable Dues Formula a good idea? I can think of many reasons in addition to my earlier comments. First, and foremost is the fairness issue. Our business counts on quality and consistent service to our Realtor members at the local, state and national level. Having a well informed and attentive staff is the key to providing assistance to our Realtor members. When our Realtor staff and volunteers work to add value to our industry we all benefit and can better serve our clients as well. Our super beneficial and highly praised ZipForms are a product of the hard work of our Realtor staff, committee volunteers and others. By the way, I highly recommend reviewing the long list of the Realtor member benefits at www.car.org. I learn something new every time I peruse the web site.
The NAR Variable Dues Formula works! Those real estate licensees that do not pay Realtors dues are enjoying the benefits of Realtor membership without helping pay for or carrying the water. By the way, I was saddened to learn at our recent series of CAR/NAR meetings that we still do not have 100% compliance.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Friday, March 8, 2013
Home Warranty for Peace of Mind
Real Estate Education Training:
Secure and Renew Your Home Warranty
Home Warranty protection is another very important option for consideration when buying your home. The costs vary on the coverage desired and it is always wise to get estimates of cost and coverage before making the investment. There are also exclusions from coverage which you should consider as well. The initial purchase cost noted for several plans would fall between $250- $400.00 for a basic warranty with varying options. This fee will cover repair and replacement of identified appliances, heating, air conditioning, garbage disposals and a host of other hiccups that could cost hundreds or even thousands of dollars. The Yellow Pages or the Internet might provide basic information and pricing on multiple Home Warranty companys. For a few tips and comparisons visit www.homewarrantyreviews.com.
Your Home warranty can be renewed annually. Offers to provide a warranty usually occurs when a home is purchased and selected during the escrow period. You can contact Home Warranty providers to purchase or renew coverage on the home you have occupied for years. By the way, the Home Warranty will generally exclude any pre existing conditions and there may be other considerations depending on the provider and coverage desired.
Home Warranty information will also explain the fee for each service call to repair or replace the covered item(s). These fees vary but expect a service call fee of around $50.00 - $75.00 plus or minus. The service call fee would be all that you would have to pay for covered repairs and/or replacement expense. Past experience relayed to me by my clients have been very positive. The client called the Home Warranty company regarding the problem and they were contacted by an approved repair company referred by the warranty provider. My clients paid the service call fee and the Home Warranty company paid all other covered costs (parts and labor).
Remember that there are multiple Home Warranty providers with an array of coverage options, initial costs and fees for service calls. These companys offer a sense of security for many of the problems you might encounter with home appliances, plumbing, heating and air conditioning units. They can really make a difference when unplanned maintenance problems impact your home.
Secure and Renew Your Home Warranty
Home Warranty protection is another very important option for consideration when buying your home. The costs vary on the coverage desired and it is always wise to get estimates of cost and coverage before making the investment. There are also exclusions from coverage which you should consider as well. The initial purchase cost noted for several plans would fall between $250- $400.00 for a basic warranty with varying options. This fee will cover repair and replacement of identified appliances, heating, air conditioning, garbage disposals and a host of other hiccups that could cost hundreds or even thousands of dollars. The Yellow Pages or the Internet might provide basic information and pricing on multiple Home Warranty companys. For a few tips and comparisons visit www.homewarrantyreviews.com.
Your Home warranty can be renewed annually. Offers to provide a warranty usually occurs when a home is purchased and selected during the escrow period. You can contact Home Warranty providers to purchase or renew coverage on the home you have occupied for years. By the way, the Home Warranty will generally exclude any pre existing conditions and there may be other considerations depending on the provider and coverage desired.
Home Warranty information will also explain the fee for each service call to repair or replace the covered item(s). These fees vary but expect a service call fee of around $50.00 - $75.00 plus or minus. The service call fee would be all that you would have to pay for covered repairs and/or replacement expense. Past experience relayed to me by my clients have been very positive. The client called the Home Warranty company regarding the problem and they were contacted by an approved repair company referred by the warranty provider. My clients paid the service call fee and the Home Warranty company paid all other covered costs (parts and labor).
Remember that there are multiple Home Warranty providers with an array of coverage options, initial costs and fees for service calls. These companys offer a sense of security for many of the problems you might encounter with home appliances, plumbing, heating and air conditioning units. They can really make a difference when unplanned maintenance problems impact your home.
Thursday, March 7, 2013
Request Move In - Move Out Inspection
Real Estate Education Training:
Document Property Condition
The California Association of Realtors (CAR) Move In - Move Out Inspection (MIMO) form provides a great starting point for tenants and landlords when beginning or ending the rental transaction. This five (5) page document allows the tenant and landlord to record the condition of the residential rental from day one. The form has three key Move In ratings of N - New, S- Satisfactory/Clean and O - Other to describe the property's condition when initiating the lease. There is also ample space for comments as well. Having a format to note the exterior and room by room interior condition helps define the property's suitability for occupancy and highlight whether immediate repairs are warranted. I highly recommend that all parties request, use and sign this form for all leases/rentals of residential properties. It is also suggested that a digital camera be used for photos of the property condition. Before and after photos will allow all parties to document pre existing conditions and capture the condition of the property after the repairs have been made.
The tenant should also be given a reasonable time to amend the MIMO after taking possession of the property. I recommend three (3) days as a reasonable amount of time after possession to add findings that may not have been visible during the initial MIMO but were discovered after living in the property. The time for adding data to the MIMO should be documented in writing as well.
The Move Out portion of the form allows all parties to note S - Satisfactory/Clean, O - Other and D- Deposit Deduction selections when the month to month tenancy or lease ends. The parties can review the initial Move In condition of the property's exterior, room by room condition (photos) and objectively determine whether there have been significant changes. Deductions for damages from the tenant deposit can be documented by the before and after condition noted in the form and photos. Estimates from two or more contractors should be secured for repairs asap after the Move Out inspection so that any funds due to the former tenant can be returned promptly after deductions for damage.
Most tenants are anxious to leave the property in good condition, as well as, pay their rents on time during the tenancy. They want a good rating for future rentals and know that a landlord with a positive experience will be a valuable reference. This form protects the conscientious tenant and the landlord. Both parties agreed on and signed the initial Move In condition and were also able to prepare and approve the Move Out condition of the property.
Document Property Condition
The California Association of Realtors (CAR) Move In - Move Out Inspection (MIMO) form provides a great starting point for tenants and landlords when beginning or ending the rental transaction. This five (5) page document allows the tenant and landlord to record the condition of the residential rental from day one. The form has three key Move In ratings of N - New, S- Satisfactory/Clean and O - Other to describe the property's condition when initiating the lease. There is also ample space for comments as well. Having a format to note the exterior and room by room interior condition helps define the property's suitability for occupancy and highlight whether immediate repairs are warranted. I highly recommend that all parties request, use and sign this form for all leases/rentals of residential properties. It is also suggested that a digital camera be used for photos of the property condition. Before and after photos will allow all parties to document pre existing conditions and capture the condition of the property after the repairs have been made.
The tenant should also be given a reasonable time to amend the MIMO after taking possession of the property. I recommend three (3) days as a reasonable amount of time after possession to add findings that may not have been visible during the initial MIMO but were discovered after living in the property. The time for adding data to the MIMO should be documented in writing as well.
The Move Out portion of the form allows all parties to note S - Satisfactory/Clean, O - Other and D- Deposit Deduction selections when the month to month tenancy or lease ends. The parties can review the initial Move In condition of the property's exterior, room by room condition (photos) and objectively determine whether there have been significant changes. Deductions for damages from the tenant deposit can be documented by the before and after condition noted in the form and photos. Estimates from two or more contractors should be secured for repairs asap after the Move Out inspection so that any funds due to the former tenant can be returned promptly after deductions for damage.
Most tenants are anxious to leave the property in good condition, as well as, pay their rents on time during the tenancy. They want a good rating for future rentals and know that a landlord with a positive experience will be a valuable reference. This form protects the conscientious tenant and the landlord. Both parties agreed on and signed the initial Move In condition and were also able to prepare and approve the Move Out condition of the property.
Sunday, March 3, 2013
Squatters or just another Distraction?
Real Estate Education Training:
Why are there Squatters?
It seems that there are a growing number of discussions regarding the increased number of Squatters in vacant home across the nation. I have had the "squatter problem" in a few Real Estate Owned (owned by banks and/or investors) properties. I would receive a "pre marketing" list of assignments for the property which included weekly visits, photos and other tasks used to report to the bank/investor regarding activity around and within the property. There were a few times when I was surprised by an occupant while taking interior photos. In most cases the "squatter" was just as shocked as I. We talked and I informed them that they should collect their belongings and leave asap. They always complied and I am truly appreciative that they left without law enforcement or court involvement. These actions are very time consuming and would have distracted me from other real estate related commitments.
Fortunately, the banks and investors at that time were asking Realtors to move the inventory as quickly as possible. This was great for all involved including buyers anxious to become home owners. A buyers tour of existing inventory was more than adequate to give the buyers an expansive selection of properties for consideration. This was also a time when appraisals and market values were often below the bank and/or investors preferred price. Over time, I began to notice a change to more cash and/or conventional buyers. FHA and VA buyers were likely to lose out to a cash/conventional buyers in situations where the condition of the property might be impacted by a low appraisal or mandatory repairs. It was a challenge for sure.
Now, we are wondering what to do about "squatters" in vacant homes nationwide that are purposely being held off the market to artificially increase prices due to short supply. A recent online discussion topic related to squatters noted all the things we as Realtors can do to deal with this problem. I am very pleased to say that I have a solution for debate that I would like to offer. First, we have to think about who loses and who benefits by our due diligence in these situations? Individual owners as opposed to bank/investor owners are just as excited about selling their property and moving on as we are and would not be thrilled about having months turn into years while we get their property sold. Individual owners were often responsible for paying their mortgages, maintaining the lawns, HOA fees and utilities. Code enforcement and other local requirements were promptly handled by the individual owners to avoid costly fines. Realtors were not expected to pay these fees and submit paperwork for reimbursement. Everyone had a stake in a fast sale.
My idea for debate is that we turn our attention and considerable resources away from fighting the "squatter problem" for banks/investors for the few crumbs we "might" receive. We deserve better. Without our industry's involvement, many local communities would come down on these banks and investor groups like a ton of bricks. The "shadow inventory" would become more visible and we could return to our time honored profession of helping our clients with a good selection of marketable properties for our FHA, VA and other buyers.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Saturday, March 2, 2013
Are Home Inspections Worth It?
Real Estate Education Training
Should I Spend Money On an Inspection?
I had a brief conversation with a few folks at the local barbershop and one of the topics lead to the value of investing in a home inspection when buying a home. Often buyers are facing sizable down payments, recurring and non recurring closing costs. They are also thinking about all the furniture and other items needed for the home after escrow closes. Homes costing several thousand dollars can bring some pretty serious cash outlays that may stretch the buyers budget.
My comment to the group was that it would be very wise to invest a few hundred dollars towards a home inspection by a "neutral third party". I emphasis neutral third party because some of us have worked with clients that had a relative or friend who "knows everything about construction and can actually build a home from the ground up". That is admirable but the few hundred dollars saved by having the family member or friend look the home over might not equate to a professional home inspection report that the homeowner would consider very objective. It would be much better for all parties to have a report prepared by an objective and skilled home inspector.
I usually have brochures from home inspection companies around the office. I am willing to provide the buyers at least two or three of those brochures for comparison with the advice that they should talk to them all before making a selection. I also take the extra step of suggesting that they check the Yellow Pages or Internet for additional options. We do not believe it to be in our best interest to select the home inspection company for the buyer. We do believe that we should make them aware that a home inspection is in their best interest and to do everything we can to encourage their securing one. We also ask that the Buyer sign the CAR form waiving the inspection should they decide to move forward with the home purchase without having an inspection. There are default time periods in CAR forms for completing the home inspection. Be sure to convey this information and ask the buyer to move quickly towards securing the inspection.
Another benefit of the professional home inspection report is the preparation of a detailed recap of the findings including photos of the areas inspected. Most home inspectors are prepared to provide the buyer and Realtor a copy of the inspection report at the conclusion of the home inspection. I ask the buyer to attend and plan to spend at least 3 hours for the inspection. Several inspectors provide Portable Document Format (pdf) inspection reports which are especially convenient. This really helps when there is a need to share the results with a transaction coordinator, cooperating Broker or others.
Finally, I always secure the buyers permission to share the pdf home inspection report with the cooperating Realtor along with a list of any repair requests by the Buyer for the Seller to consider. The old "a picture is worth a thousand words" definitely applies when obvious problems exist. The inspection report with photos often strengthen the buyers request for repairs or replacement of missing items in the home. The Sellers Realtor knows that there may be an appraisal report that might note some of the same defects found by the home inspector. Lenders might require repairs before approving and funding the loan.
It is better to spend a few hundred dollars to know the condition of the home as opposed to investing thousands of dollars to learn that major repairs are needed after close of escrow.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Should I Spend Money On an Inspection?
I had a brief conversation with a few folks at the local barbershop and one of the topics lead to the value of investing in a home inspection when buying a home. Often buyers are facing sizable down payments, recurring and non recurring closing costs. They are also thinking about all the furniture and other items needed for the home after escrow closes. Homes costing several thousand dollars can bring some pretty serious cash outlays that may stretch the buyers budget.
My comment to the group was that it would be very wise to invest a few hundred dollars towards a home inspection by a "neutral third party". I emphasis neutral third party because some of us have worked with clients that had a relative or friend who "knows everything about construction and can actually build a home from the ground up". That is admirable but the few hundred dollars saved by having the family member or friend look the home over might not equate to a professional home inspection report that the homeowner would consider very objective. It would be much better for all parties to have a report prepared by an objective and skilled home inspector.
I usually have brochures from home inspection companies around the office. I am willing to provide the buyers at least two or three of those brochures for comparison with the advice that they should talk to them all before making a selection. I also take the extra step of suggesting that they check the Yellow Pages or Internet for additional options. We do not believe it to be in our best interest to select the home inspection company for the buyer. We do believe that we should make them aware that a home inspection is in their best interest and to do everything we can to encourage their securing one. We also ask that the Buyer sign the CAR form waiving the inspection should they decide to move forward with the home purchase without having an inspection. There are default time periods in CAR forms for completing the home inspection. Be sure to convey this information and ask the buyer to move quickly towards securing the inspection.
Another benefit of the professional home inspection report is the preparation of a detailed recap of the findings including photos of the areas inspected. Most home inspectors are prepared to provide the buyer and Realtor a copy of the inspection report at the conclusion of the home inspection. I ask the buyer to attend and plan to spend at least 3 hours for the inspection. Several inspectors provide Portable Document Format (pdf) inspection reports which are especially convenient. This really helps when there is a need to share the results with a transaction coordinator, cooperating Broker or others.
Finally, I always secure the buyers permission to share the pdf home inspection report with the cooperating Realtor along with a list of any repair requests by the Buyer for the Seller to consider. The old "a picture is worth a thousand words" definitely applies when obvious problems exist. The inspection report with photos often strengthen the buyers request for repairs or replacement of missing items in the home. The Sellers Realtor knows that there may be an appraisal report that might note some of the same defects found by the home inspector. Lenders might require repairs before approving and funding the loan.
It is better to spend a few hundred dollars to know the condition of the home as opposed to investing thousands of dollars to learn that major repairs are needed after close of escrow.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Tuesday, February 26, 2013
Open House Planning
Real Estate Education Training:
Have a Well Planned Open House
"The weather is so delightful" are words from a popular song which means we will see an increase in Open Houses in our neighborhoods. We should take a few minutes to pull out and organize our signs, banners, directional arrows and other tools for directing traffic to our listing. We also need to become familiar with the property, cross streets and the neighborhood information.
We should also pay attention to the start and end time for the Open House. I cannot count the number of times that a "buyer prospect" arrived at my Open House just a few minutes before the time I thought I would be leaving to retrieve signs and other promotional material from multiple locations. There were also times when the homeowner would return a bit prior to the Open House close time for a recap of the number of buyer prospects, comments about the home and other topics which we are excited to share. I always enjoyed providing the "extra mile service" to buyer prospects and home owners. We realize that this quality time may help our relationship as well.
This meant I had to plan my Open House to allow an extra hour of daylight for the end time. I found that it was better for me to hold the Open House from 12:00 - 3:00 pm or 1:00 - 4:00 pm. These time slots work in most time zones and allowed me time to give a little more information to the buyer prospect or homeowner wanting a recap. I also believe that a well publicized three hour Open House is just as helpful to buyers as longer time periods. Establishing a date as much in advance as possible allowed me to tell callers asking for information about the home about the Open House. I answered their questions and always mentioned that I would be holding an Open House on Saturday or Sunday from 12:00 - 3:00 pm or 1:00 - 4:00 pm depending on the arrangement with my sellers. This information can also be published in the CRMLS and social media options.
More importantly, it allowed time to coordinate with one or more industry members who might see value in sitting the Open House to secure a client for a loan, home warranty or other business. Having another party assist you with the Open House is a very wise decision at all times. I found that industry professionals are excited at the opportunity to have access to potential buyers and homeowners and often ask to bring helpful brochures. It is also great to have assistance when several families arrive at one time and you want everyone to receive a warm welcome.
Finally, a well planned Open House will provide more opportunity to alert neighbors, place signs in visible locations and increase the number of prospects. When the Open House ends it is beneficial to have allowed ample day light time to safely collect signs and, of course, allow time for the visit with the homeowner or the buyer prospect who arrives a few minutes prior to your planned departure.
Have a Well Planned Open House
"The weather is so delightful" are words from a popular song which means we will see an increase in Open Houses in our neighborhoods. We should take a few minutes to pull out and organize our signs, banners, directional arrows and other tools for directing traffic to our listing. We also need to become familiar with the property, cross streets and the neighborhood information.
We should also pay attention to the start and end time for the Open House. I cannot count the number of times that a "buyer prospect" arrived at my Open House just a few minutes before the time I thought I would be leaving to retrieve signs and other promotional material from multiple locations. There were also times when the homeowner would return a bit prior to the Open House close time for a recap of the number of buyer prospects, comments about the home and other topics which we are excited to share. I always enjoyed providing the "extra mile service" to buyer prospects and home owners. We realize that this quality time may help our relationship as well.
This meant I had to plan my Open House to allow an extra hour of daylight for the end time. I found that it was better for me to hold the Open House from 12:00 - 3:00 pm or 1:00 - 4:00 pm. These time slots work in most time zones and allowed me time to give a little more information to the buyer prospect or homeowner wanting a recap. I also believe that a well publicized three hour Open House is just as helpful to buyers as longer time periods. Establishing a date as much in advance as possible allowed me to tell callers asking for information about the home about the Open House. I answered their questions and always mentioned that I would be holding an Open House on Saturday or Sunday from 12:00 - 3:00 pm or 1:00 - 4:00 pm depending on the arrangement with my sellers. This information can also be published in the CRMLS and social media options.
More importantly, it allowed time to coordinate with one or more industry members who might see value in sitting the Open House to secure a client for a loan, home warranty or other business. Having another party assist you with the Open House is a very wise decision at all times. I found that industry professionals are excited at the opportunity to have access to potential buyers and homeowners and often ask to bring helpful brochures. It is also great to have assistance when several families arrive at one time and you want everyone to receive a warm welcome.
Finally, a well planned Open House will provide more opportunity to alert neighbors, place signs in visible locations and increase the number of prospects. When the Open House ends it is beneficial to have allowed ample day light time to safely collect signs and, of course, allow time for the visit with the homeowner or the buyer prospect who arrives a few minutes prior to your planned departure.
Monday, February 25, 2013
Community Service Pays Dividends
Real Estate Education Training:
Give A Helping Hand
It still seems like just yesterday that my fellow Realtors and Fraternity brothers were collecting food, clothing and toiletries for those less fortunate during the Thanksgiving - Christmas Holidays. It has become a Holiday tradition well supported by so many Realtors with their donations of money, recycled clothing and can goods. The money helps buy turkeys and other food items such as cranberry sauce for the gift baskets. Clothing and toiletries are also welcomed since many of the several hundred recipients need basics for everyday survival.
The clothing is often quite fashionable. Special acknowledgement to Claude Ward and Larry King for providing a large selection of men clothing collected from our Kappa Alpha Psi Fraternity members. One member of the volunteer team gathered at the Fair Housing Council of Riverside County (Rose Mayes, CEO) stated that the suits delivered by Claude and donated by Larry were in fantastic condition and very stylish. Others members provided tooth paste, tooth brushes, deodorant, soap and other hygiene enhancement items.
The line to receive the food baskets, clothing and other much needed donations began to develop over an hour before the announced start time. There was a very moving comment made by one individual standing in line for a gift basket donation. This individual indicated that in prior years they had donated and assisted in passing out gift baskets to others. They indicated that they never thought that they would be in line with their children seeking assistance.
I did not name the many Realtors who arrived early to help set up the tables and pack gift baskets. There have been so many over the past years to name just a few. Some have returned over the years and others have, for many different reasons, participated from time to time. The Realtor commitment to helping others in the Riverside community is representative of so many Realtor members nationwide who give so much to their neighbors. Some readers may be aware of the annual Good Neighbor Awards, Habitat For Humanity projects and other venues for recognizing the unbelievable number of hours donated by members of the National Association of Realtors. They all help keep our Realtor brand strong.
These and other positive and unselfish acts by our Realtor membership truly make a difference to those receiving our support.
Let's continue to do those wonderful things during 2013 and beyond that make a better neighborhood for us all.
Give A Helping Hand
It still seems like just yesterday that my fellow Realtors and Fraternity brothers were collecting food, clothing and toiletries for those less fortunate during the Thanksgiving - Christmas Holidays. It has become a Holiday tradition well supported by so many Realtors with their donations of money, recycled clothing and can goods. The money helps buy turkeys and other food items such as cranberry sauce for the gift baskets. Clothing and toiletries are also welcomed since many of the several hundred recipients need basics for everyday survival.
The clothing is often quite fashionable. Special acknowledgement to Claude Ward and Larry King for providing a large selection of men clothing collected from our Kappa Alpha Psi Fraternity members. One member of the volunteer team gathered at the Fair Housing Council of Riverside County (Rose Mayes, CEO) stated that the suits delivered by Claude and donated by Larry were in fantastic condition and very stylish. Others members provided tooth paste, tooth brushes, deodorant, soap and other hygiene enhancement items.
The line to receive the food baskets, clothing and other much needed donations began to develop over an hour before the announced start time. There was a very moving comment made by one individual standing in line for a gift basket donation. This individual indicated that in prior years they had donated and assisted in passing out gift baskets to others. They indicated that they never thought that they would be in line with their children seeking assistance.
I did not name the many Realtors who arrived early to help set up the tables and pack gift baskets. There have been so many over the past years to name just a few. Some have returned over the years and others have, for many different reasons, participated from time to time. The Realtor commitment to helping others in the Riverside community is representative of so many Realtor members nationwide who give so much to their neighbors. Some readers may be aware of the annual Good Neighbor Awards, Habitat For Humanity projects and other venues for recognizing the unbelievable number of hours donated by members of the National Association of Realtors. They all help keep our Realtor brand strong.
These and other positive and unselfish acts by our Realtor membership truly make a difference to those receiving our support.
Let's continue to do those wonderful things during 2013 and beyond that make a better neighborhood for us all.
Sunday, February 24, 2013
Political Survival
Real Estate Education Training:
Fair Share Investment
We are an organization that has a leadership role in our industry which requires vigilance and generous support from our members to remain in the game and be an influencer equalled by none.
We also have the benefits accrued from this position of trust and success. Our voices are heard in city halls, state houses, halls of Congress and the White House when issues related to Real Estate are debated, bills are negotiated and votes are counted.
I have not considered the cost of hiring a team to help keep those that might want to destroy my business because I am wise enough to know that I could not afford a professional staff for this purpose. Imagine having to pay a reasonable salary and benefits for one or more individuals to monitor the whims of elected officials seeking revenue from our industry in your city, state or in Washington DC. Adding this expense to my dues and other fees would make my business survival impossible without making millions annually.
That is why I consider having a team of dedicated staff from the local level to the halls of Congress and the White House as a real bargain. We often hear that $148.00 dollars a year is the "true cost" for political survival or doing business. Golden "R" and other categories require a little higher investment. Even the Golden "R" annual investment is a steal compared to the cost of our hiring a skilled staff to watch our backs. Believe me - we need our backs watched right now more than ever with every level of government on the prowl for more revenue.
There are moans from some that paying $49.00 is something that they do not wish to do. They want to just "sale Real Estate" and not get involved in politics. Selling Real Estate would be totally different than it is today without our staff working tirelessly to monitor legislation and mobilize our membership to speak up when there are onerous laws being proposed. I have even benefited from follow up emails or phone calls from staff and/or dedicated Realtor volunteers reminding me to contact my legislator when support for our industry is required.
Surely, $148.00 is well worth having our staff fighting for our livelihood! One of my favorite flyers depicted a pair of boxing gloves noting that our legislative team is fighting for us and our clients by keeping negative bills from being enacted by the government. This is a great symbol because it is a daily battle to keep those who think the Mortgage Interest Deduction and other benefits of home ownership should be eliminated. If we were to lose the MID and other benefits of home ownership it would cost us a whole lot more than $148.00 a year.
So belly up to the political survival bar and pay the piper. By the way, I should note that I am honored to be on the 2014 Realtor Action Fund Committee Chaired by the "Original Realtor Cheerleader" Sharon Bowler.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Fair Share Investment
We are an organization that has a leadership role in our industry which requires vigilance and generous support from our members to remain in the game and be an influencer equalled by none.
We also have the benefits accrued from this position of trust and success. Our voices are heard in city halls, state houses, halls of Congress and the White House when issues related to Real Estate are debated, bills are negotiated and votes are counted.
I have not considered the cost of hiring a team to help keep those that might want to destroy my business because I am wise enough to know that I could not afford a professional staff for this purpose. Imagine having to pay a reasonable salary and benefits for one or more individuals to monitor the whims of elected officials seeking revenue from our industry in your city, state or in Washington DC. Adding this expense to my dues and other fees would make my business survival impossible without making millions annually.
That is why I consider having a team of dedicated staff from the local level to the halls of Congress and the White House as a real bargain. We often hear that $148.00 dollars a year is the "true cost" for political survival or doing business. Golden "R" and other categories require a little higher investment. Even the Golden "R" annual investment is a steal compared to the cost of our hiring a skilled staff to watch our backs. Believe me - we need our backs watched right now more than ever with every level of government on the prowl for more revenue.
There are moans from some that paying $49.00 is something that they do not wish to do. They want to just "sale Real Estate" and not get involved in politics. Selling Real Estate would be totally different than it is today without our staff working tirelessly to monitor legislation and mobilize our membership to speak up when there are onerous laws being proposed. I have even benefited from follow up emails or phone calls from staff and/or dedicated Realtor volunteers reminding me to contact my legislator when support for our industry is required.
Surely, $148.00 is well worth having our staff fighting for our livelihood! One of my favorite flyers depicted a pair of boxing gloves noting that our legislative team is fighting for us and our clients by keeping negative bills from being enacted by the government. This is a great symbol because it is a daily battle to keep those who think the Mortgage Interest Deduction and other benefits of home ownership should be eliminated. If we were to lose the MID and other benefits of home ownership it would cost us a whole lot more than $148.00 a year.
So belly up to the political survival bar and pay the piper. By the way, I should note that I am honored to be on the 2014 Realtor Action Fund Committee Chaired by the "Original Realtor Cheerleader" Sharon Bowler.
Michael Teer, Broker
Certified Residential Specialist (CRS)
Teer One Properties, Inc.
(951) 313-5168
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Sunday, February 17, 2013
Realtor Brand Adds Value
Real Estate Education Training:
Realtor Pride!
I joined the the Realtor team in 1983 as a newly licensed real estate agent with a major franchise in Inglewood, CA. I had no idea what being a Realtor meant but I knew the partners that owned the franchise meant business when they informed me that if I wanted to work in their office - I had to pay my Realtor dues and attend their office meetings. It was also suggested that I should get a gold jacket as soon as possible. I had just recently paid the money for real estate classes, and was now looking at another outlay of funds to join the local, California and National Association of Realtors. It was a bit painful!
I truly did not realize the value of the Realtor "R" and mainly focused on the financial hit that I had to deal with after paying for and attending an eight week "live" licensing course. There were no Internet online courses back in 1983. Now thirty years later I can see how our industry has progressed. Most of that progress has been due to the value added by the Realtor "R". Most striking is the acceptance that I could not have made those improvements without the help of the Realtor brand. Having a super support team in place allowed me to work at listing and selling Real Estate at my pace without concern for anything that might help or hinder my industry.
Each year I am asked to pay a few hundred dollars to benefit from everything the Realtor team brings to my business success. I have read with pure delight the "member benefit" business forms that help me prepare for my clients the best possible offer or listing agreement. Back in 1983 our offers often consisted of one or two forms requiring you to manually fill in all the transaction terms and conditions. Heaven forbid if you forgot to ask for a termite inspection and clearance or failed to remember to write down who paid for what? Now the forms tickle the memory with suggestions.
It is really great to work at what I am so happy doing and have trained and skilled local, California and National staff members concentrating on my business needs 24/7. I see them as my "business bodyguards". They work to keep my exposure at a minimum so I can concentrate on providing the best possible service to my clients and spend more time with my family.
The Realtor brand is priceless!
Realtor Pride!
I joined the the Realtor team in 1983 as a newly licensed real estate agent with a major franchise in Inglewood, CA. I had no idea what being a Realtor meant but I knew the partners that owned the franchise meant business when they informed me that if I wanted to work in their office - I had to pay my Realtor dues and attend their office meetings. It was also suggested that I should get a gold jacket as soon as possible. I had just recently paid the money for real estate classes, and was now looking at another outlay of funds to join the local, California and National Association of Realtors. It was a bit painful!
I truly did not realize the value of the Realtor "R" and mainly focused on the financial hit that I had to deal with after paying for and attending an eight week "live" licensing course. There were no Internet online courses back in 1983. Now thirty years later I can see how our industry has progressed. Most of that progress has been due to the value added by the Realtor "R". Most striking is the acceptance that I could not have made those improvements without the help of the Realtor brand. Having a super support team in place allowed me to work at listing and selling Real Estate at my pace without concern for anything that might help or hinder my industry.
Each year I am asked to pay a few hundred dollars to benefit from everything the Realtor team brings to my business success. I have read with pure delight the "member benefit" business forms that help me prepare for my clients the best possible offer or listing agreement. Back in 1983 our offers often consisted of one or two forms requiring you to manually fill in all the transaction terms and conditions. Heaven forbid if you forgot to ask for a termite inspection and clearance or failed to remember to write down who paid for what? Now the forms tickle the memory with suggestions.
It is really great to work at what I am so happy doing and have trained and skilled local, California and National staff members concentrating on my business needs 24/7. I see them as my "business bodyguards". They work to keep my exposure at a minimum so I can concentrate on providing the best possible service to my clients and spend more time with my family.
The Realtor brand is priceless!
Saturday, February 16, 2013
Say It With Pictures
Real Estate Education Training:
Photos Say It Best.
We all know how it feels to pull up the listing information in CRMLS and find a fantastic street view photo of the new listing. We then look to see if there are any interior, side or rear view shots to help us better determine whether the property meets more than just the "curb appeal" test. Major setback when the only photo is the front of the property and/or the minimum required for uploading to CRMLS or other venues! I recommend taking 25-30 photos. You can "over deliver" to most mediums where multiple pictures are allowed. This will also help your listing and you stand out from the crowd. Sellers love to see their home marketed with favorable photos and information regarding the interior and neighborhood amenities.
Every effort should be made to give the listing maximum exposure in CRMLS, Social Media and other options (flyers, etc.) with as many photos as possible. The photos should be "video tour" quality. The home should show in CRMLS as if you are walking from the street, into every room, amenity, front, sides, rear and frankly flaws, if any. I add flaws because our time and our buyers time is precious and if there is an issue that our buyer might use as an objection we would rather see it in the photos rather than having to travel to the property to discovery it. It does not pay to promote a property as "turn key" when there are major warts which should be disclosed asap in photos, Agent Visual Inspections and the Transfer Disclosure Statement.
Be sure to invest in a good digital camera and practice using it when there is ample natural lighting and when a flash might be required for evening shots or in areas in the property where lighting might be less abundant.
Remember a large selection of interior and exterior photos will promote your listing and you!
Michael Teer, Broker
Certified Residential Specialist
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Photos Say It Best.
We all know how it feels to pull up the listing information in CRMLS and find a fantastic street view photo of the new listing. We then look to see if there are any interior, side or rear view shots to help us better determine whether the property meets more than just the "curb appeal" test. Major setback when the only photo is the front of the property and/or the minimum required for uploading to CRMLS or other venues! I recommend taking 25-30 photos. You can "over deliver" to most mediums where multiple pictures are allowed. This will also help your listing and you stand out from the crowd. Sellers love to see their home marketed with favorable photos and information regarding the interior and neighborhood amenities.
Every effort should be made to give the listing maximum exposure in CRMLS, Social Media and other options (flyers, etc.) with as many photos as possible. The photos should be "video tour" quality. The home should show in CRMLS as if you are walking from the street, into every room, amenity, front, sides, rear and frankly flaws, if any. I add flaws because our time and our buyers time is precious and if there is an issue that our buyer might use as an objection we would rather see it in the photos rather than having to travel to the property to discovery it. It does not pay to promote a property as "turn key" when there are major warts which should be disclosed asap in photos, Agent Visual Inspections and the Transfer Disclosure Statement.
Be sure to invest in a good digital camera and practice using it when there is ample natural lighting and when a flash might be required for evening shots or in areas in the property where lighting might be less abundant.
Remember a large selection of interior and exterior photos will promote your listing and you!
Michael Teer, Broker
Certified Residential Specialist
Teer One Properties, Inc.
(951) 313-5168 Cell
www.miketeer.com
ProbateSoCal@gmail.com
CalBRE#: 01523582/00843708
Friday, February 15, 2013
Stay Alert - Stay Safe
Real Estate Education Training:
Spring Time Safety Tips
Times are challenging for many of our fellow citizens out there. Realtors have to keep an open eye as we go about our day. We have to take extra precautions when showing property, doing Open Houses and other everyday business tasks. I would like to share a few thoughts that may help keep us from walking into a situation from which we lose belongings or place ourselves in danger of personal harm.
Know your client prospect: We often receive calls asking to see a property from a "voice" on the other end of the line. We are anxious to please so we try not to say anything or ask questions that might reduce the caller's enthusiasm for working with us. This could be a mistake. We should ask for as much information as possible. Try to ascertain how the caller got your information, do they have an email address where you can confirm/send information, etc. Remember that it is always best to have the client meet you in the office.
Control the appointment: Be cautious of a request to meet at the property, especially if it is vacant, right away. Ask for the prospects contact information and let them know that you will attempt to adjust an existing appointment and get back to them asap with confirmation. If they are legitimate this will be a reasonable request. Better to miss the opportunity than to risk harm.
Team Showings: It is always best to work in teams when showing property to new buyer prospects. This is especially wise if you are doing an Open House. Having another Realtor or other individual with you will reduce the chance of a problem.
Keep the door at your back: Never allow the prospect to get between you and the door. A good rule is to keep the prospect in front of you so you can see their actions and not be trapped in the house without a means to escape a bad situation.
Meet the neighbors: When you secure a new listing it is always good to go to the listing at a time when neighbors might be home. Introduce yourself. Invite them to stop by the Open House. A watchful neighbor will notice activities around the house and might be an ally should there be a problem with the listing or if you require assistance should a problem develop while showing the house.
Cell Phone is a tool: Keep your mobile phone at the ready. Help is just a click away should you need a posse to the rescue. A preset number, emergency, family member or friend, can give you that edge to avoid harm.
Stay Alert - Stay Safe!
Spring Time Safety Tips
Times are challenging for many of our fellow citizens out there. Realtors have to keep an open eye as we go about our day. We have to take extra precautions when showing property, doing Open Houses and other everyday business tasks. I would like to share a few thoughts that may help keep us from walking into a situation from which we lose belongings or place ourselves in danger of personal harm.
Know your client prospect: We often receive calls asking to see a property from a "voice" on the other end of the line. We are anxious to please so we try not to say anything or ask questions that might reduce the caller's enthusiasm for working with us. This could be a mistake. We should ask for as much information as possible. Try to ascertain how the caller got your information, do they have an email address where you can confirm/send information, etc. Remember that it is always best to have the client meet you in the office.
Control the appointment: Be cautious of a request to meet at the property, especially if it is vacant, right away. Ask for the prospects contact information and let them know that you will attempt to adjust an existing appointment and get back to them asap with confirmation. If they are legitimate this will be a reasonable request. Better to miss the opportunity than to risk harm.
Team Showings: It is always best to work in teams when showing property to new buyer prospects. This is especially wise if you are doing an Open House. Having another Realtor or other individual with you will reduce the chance of a problem.
Keep the door at your back: Never allow the prospect to get between you and the door. A good rule is to keep the prospect in front of you so you can see their actions and not be trapped in the house without a means to escape a bad situation.
Meet the neighbors: When you secure a new listing it is always good to go to the listing at a time when neighbors might be home. Introduce yourself. Invite them to stop by the Open House. A watchful neighbor will notice activities around the house and might be an ally should there be a problem with the listing or if you require assistance should a problem develop while showing the house.
Cell Phone is a tool: Keep your mobile phone at the ready. Help is just a click away should you need a posse to the rescue. A preset number, emergency, family member or friend, can give you that edge to avoid harm.
Stay Alert - Stay Safe!
Wednesday, February 13, 2013
CRMLS Training Webinars Increases Skills
Real Estate Education Training:
Automatic Email Traning and more
I completed another well packaged training webinar presented by CRMLS to better acquaint us with the Matrix system. So far the FREE webinars have been about an hour long. I have completed 4 webinars during the past week. The presenter of Tuesday's webinar was a CRMLS Trainer named Rudy Rodriguez. He demonstrated the use of Automatic Emails to our buyer prospects regarding Active Listings that meet their criteria. We all want to make sure that our buyer prospects get the most accurate and up to date data regarding their Real Estate needs. I think that this is a fantastic tool towards providing prompt and reliable information regarding Active Listings to our clients that fit their detailed requirements.
Rudy repeated each step at least twice. The webinar presentation moved skillfully through a CRMLS web site property search selecting information regarding the city, bedrooms, baths and other amenities identified by the prospect. We can input new prospects, change the amenities and do a number of other tasks that help us keep the client up to date and informed. Having the active listings updates performed automatically really helps us maintain the relationship with our buyer prospects while we complete other pressing assignments.
Today I will participate in another webinar - Realist Tax: Your Farming Resource - which will help me continue to increase my skills, increase revenue building opportunities and better represent my clients. Most scheduling allows morning or afternoon webinars. This works for us since our work days are usually flexible enough to allow us at least an hour in the day for self improvement.
Log on to CRMLS Matrix and check out the many webinars and other information that is free for Realtors. I also recommend that you check out the Cloud CMA and other features that are so well organized and useful for our businesses.
By the way, be sure to go to the Settings tab and confirm/edit your information.
Automatic Email Traning and more
I completed another well packaged training webinar presented by CRMLS to better acquaint us with the Matrix system. So far the FREE webinars have been about an hour long. I have completed 4 webinars during the past week. The presenter of Tuesday's webinar was a CRMLS Trainer named Rudy Rodriguez. He demonstrated the use of Automatic Emails to our buyer prospects regarding Active Listings that meet their criteria. We all want to make sure that our buyer prospects get the most accurate and up to date data regarding their Real Estate needs. I think that this is a fantastic tool towards providing prompt and reliable information regarding Active Listings to our clients that fit their detailed requirements.
Rudy repeated each step at least twice. The webinar presentation moved skillfully through a CRMLS web site property search selecting information regarding the city, bedrooms, baths and other amenities identified by the prospect. We can input new prospects, change the amenities and do a number of other tasks that help us keep the client up to date and informed. Having the active listings updates performed automatically really helps us maintain the relationship with our buyer prospects while we complete other pressing assignments.
Today I will participate in another webinar - Realist Tax: Your Farming Resource - which will help me continue to increase my skills, increase revenue building opportunities and better represent my clients. Most scheduling allows morning or afternoon webinars. This works for us since our work days are usually flexible enough to allow us at least an hour in the day for self improvement.
Log on to CRMLS Matrix and check out the many webinars and other information that is free for Realtors. I also recommend that you check out the Cloud CMA and other features that are so well organized and useful for our businesses.
By the way, be sure to go to the Settings tab and confirm/edit your information.
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