Hmmm. They already told you what they will take, and that is the listed price. It's when "What do you think they will take" is followed by "Maybe I'll just test the water" that a savvy agent needs to step up to the challenge. When testing the water equals wasting time for everybody involved, stat...

01/29/2011

To see or not to see an old disclosure

8 Comments

When an MLS listing does not have a current disclosure, as is the case with a foreclosure, should a buyer have access to the disclosure from a former listing of the property? Not only does the previous listing company have the disclosure tucked away somewhere in a listing file, but it probably is...

01/27/2011

Bittersweet Facebook discoveries

6 Comments

Today I saw a former student of mine as a featured stock analyst on CNBC! Last week, I learned that another of my students is in a knock-down, drag-out fight for her life with lymphoma. Both of those pieces of news came through Facebook. Because one of the corporate trainers insisted we should pa...

01/27/2011

No. The water will NOT be on!

6 Comments

Dewinterizing a foreclosure property is not as simple as turning on the water, so please do NOT schedule your inspector to visit the property right after your offer is accepted. A few things need to happen before the water will actually be on in the house. You (or your client) must actually be un...

01/26/2011

Lying could be a $10,000 mistake!

34 Comments

Fannie Mae, Freddie Mac, and HUD give priority to owner occupant buyers, and all three require buyers to state whether they are owner occupants or investors. Don't even THINK about misrepresenting yourself as an owner occupant if you will not personally be occupying the property. As a listing age...

01/25/2011

WHAT BID??? I just want to turn in a contract to the listing agent!

6 Comments

You or your client found the perfect property; but then you find out that you have to make a bid on the client's behalf, instead of simply presenting a contract to the listing agent. Don't despair! BidSelect® is one of the sites you might run into, and navigating the site is really not difficul...

01/24/2011

MLS is a cooperative, not merely an advertising venue

4 Comments

MLS is a cooperative. It is not merely a method of advertising. To that end, REALTORS® should be able to rely on the honesty of descriptions, instead of having to write off everything as hype. When we get to the point that the hype is all that counts, we have nothing left that is useful. We are m...

01/22/2011

Time's up! (part 2)

6 Comments

What happens next if the seller of a property does not respond to your offer before the deadline stated on your paperwork? That depends on you, actually. In part 1 of Time's UP, I outlined realities and suggestions for buyers. And now for the realities of REO! The REO seller does not even know w...

01/20/2011

Time's up!

4 Comments

What happens next if the seller of a property does not respond to your offer before the deadline on your paperwork? That depends on you, actually. 1. Move on to the next house. You certainly have that right; because you do not have a contract with the seller, and your offer has expired. Your offe...

01/20/2011

Digital hygiene: Do you have it?

10 Comments

So your computer has ground to a halt, has it? It either won't load programs properly or you have time to cook a meal while it boots. Surprise! Some of the things you have done to FIX it may have crippled it! An agent in our office recently had a computer crash, and she asked my son (a computer ...

01/19/2011