Buying real estate

Buying real estate

Buying real estate can be one of the most exciting processes you’ll ever go through, or it can be one of the most frustrating. To help insure that it’s more the former than the latter, it’s really, really important to know what you’re doing, and follow the process.

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The meaning of success

The true irony of success is that those who can help us achieve it — our clients — tend to be right next to us, but we are so focused looking over the fence at those successful agents “over there” that we don’t even see them. Just as we need to align our businesses with ourselves, we need to let our clients align themselves with our businesses.

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You need to price your property right

No matter how you slice-and-dice it, you want your property to be ready to sell the day it hits the market. You don’t want to be doing anything that will delay you getting it under contract.

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Five reasons to sell before winter hits

Homeowners . . . must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

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Even in a sellers market, we have to play by the rules

The real estate market is showing some really small signs of slowing down right now. It’s been crazy, so this slow down really only means that we are moving from a strong sellers’ market to a sellers’ market.

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Is a crazy real estate market the new normal?

I’ve posted a few times in the past several months about how crazy our market is, and every time I hit the “publish” button, it gets crazier. Folks, the trend is continuing.

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The real estate business is an odd business

In most transactions, the buyer and the seller each have an agent. Each of those agents has two goals: take care of their respective clients, and get the house sold. In order to do the former, the agents need to compete. To successfully complete the latter, however, the agents must cooperate.

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Are real estate agents honest?

This particular speaker had a few tricks up her sleeve to get people to open her emails and reply, or to call her. As she spoke, I heard a few people in the audience respond with comments like, “Omigod, that’s so clever!” (As an aside, that was not my response.)

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Going paperless: lessons learned

The things I generate as I go through a transaction, but aren’t worthy of scanning and saving electronically just need to be saved. That’s all. Just saved. What an epiphany! What a time saver!

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Are real estate agents obsolete?

The predictions of the death of the real estate agency model came from everywhere, and a lot of them pointed to the collapse of the travel agency model as proof that consumers could get along quite well without any agent skimming homeowners’ profits.

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It is what it is

We balance those three factors — product, price and packaging — so that we can achieve a seller’s goal: highest price in the shortest time with the fewest challenges. If the product is lacking in some capacity or another, we have to fix it somehow. Sometimes, we can physically fix the product (what it is and how it is), but sometimes, such as with a poor location, we can’t. Then, we have to rely on adjusting the price or the packaging.

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Location, location, location

Location, of course, is the one thing about a property that can’t be changed. Because, if ya could, it’d be a different property now, wouldn’t it? This point was driven home last week when I had a chance to sit down with a seller whose property was on the market, but not generating any interest. Not a single showing in almost three months on market, even in this crazy real estate market. Clearly something was wrong.

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I’m still here

The truth of the matter is that there just aren’t enough hours in the day, and the flow of work for a real estate broker ebbs and floods. When it’s flooding, some things — like blogging — just have to take a back seat to the more pressing work of client care. (Can you imagine telling a client to hold on ‘cuz there’s a blog post to write? Not a conversation I’m ever going to have, that’s for certain!)

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Why I left REO

Bank owned REO was a good niche for me. I understood it from the beginning because I was learning the loan business during the last mortgage crisis in the 1980’s . . . It was a mess, and I had a front-row seat. Nearly 20 years later, that experience naturally lead me to the world of REO brokerage. I got in several years early, so I was ready.

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I’ve earned my pin

Through the years, I’ve learned that the one aspect of real estate that really sends folks around the bend is contract negotiation. There’s something about asking for what you want, and denying what “the other guy” wants, that just gets people all aflutter, and causes them to do things that are not necessarily in their best interest.

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Renew and regrow

The process we all go through to find a home and sell real estate has changed, indeed, and I must admit that I like it better now. Today, our clients are likely to come to us already armed with a ton of knowledge that they have gleaned from the internet.

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March snapshot

The real estate market is still crazy. Inventory is creeping up slowly — and that’s a good thing — but last month we sold over 50% more properties than we did in February, so we cut deeply into what little inventory we had. Right now, we have less than a five-week supply of homes for sale.

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This real estate market is crazy!

So what is the absorption rate telling us right now? Mostly that the real estate market is crazy right now. Based on the most recent calculations, it will take well less than two months to completely wipe up — to absorb — all the current listings. In Highlands Ranch and Lone Tree, where there are less than 200 active listings, it will take just over a month to sop everything up.

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