CJ Floyd

What do you consider competing real estate agents and agencies? I've gotten some negative responses from coworkers when I share my feeling of appreciation towards competition. I want every transaction to run as smoothly as possible; it makes for a better rapport, which will enhance possible future transactions. We all need each other, right?

Clearly, we should all know and agree that you can't have monopolies, even in real estate. Plus, most real estate sales come from competing firms' listings or buyers! It's not every day that you're going to sell your own listings...

Overall, I think most of the response from my coworkers was friendly, especially since I recently moved from a larger competitor (Century 21) to Realty Executives.

Share your thoughts!!

So, I've been busy house-hunting, and came across one that just smelled like money when I walked in. Not literally, of course. It's a foreclosure, and for those of you that have shown foreclosures, most of them certainly do not smell like money.

It's in a very well-kept neighborhood maintained by the somewhat higher-end HOA. This year, the cheapest house sold in that neighborhood was at $270,000. The list price is well below that. Seriously, WEEEEELL below that.

I took a contractor friend (he's where the money for the improvements/repairs will come from if this comes to fruition) to inspect the house, and here are the results:

Paint..... cleaning..... and light fixtures. Seriously, that's it.

I've checked the area for days on market, current list prices, recent sold prices, and recent expired prices. Priced correctly, it seems there's no way it wouldn't sell and fill our pockets up.

PLEASE give my some suggestions or ideas or something - those of you that have 'flipped' houses before... it's greatly appreciated!

Have any of you agents found it hard house-hunting for yourself? While looking at houses around Lake Norman in our price range, I have found myself comparing these houses to more expensive homes I have shown or visited during a broker Open House or luncheon.

I think we may have finally found one we like, if the sellers will come down on price. Before this one though, I have ended up being way more picky than my wife - and she is the picky one!

Some of the houses have tiny kitchens, but awesome master baths. Some have decent kitchens, and tiny yards. I think only ONE was everything we wanted, but we still had ideas for changing things. I just think that if I did not sell real estate, I would love nearly all of the homes we have viewed!

Within a couple days of signing up for multiple BPO companies online, I have already received two BPO orders. The first, which I didn't accept in time, was given to another agent in my area. The second, I received today and just so happened to be online when I received the email and had time to accept it. It's also a beautiful lakefront estate that was on the market three years ago for $2,850,000!

WHAT DO I DO NOW?

Eh, it's pretty self-explanatory, so I don't think I really need help. My broker-in-charge is actually a prominent foreclosure/REO agent in my area, so I have help if needed.

I know the BPO subject is iffy to many agents. It can certainly be considered a waste of time and effort but in my BIC's case, it has most certainly paid off. I know this doesn't mean I'm going to get a $2-$3million listing; it could just be an owner refinancing or something.

Please share any of your thoughts, suggestions, or FAQ with me. I'd love to hear it.

If you've bought a house, you know just how frustrating the entire process can be. I'm about to start the process all over again on my second home, as my first is currently under contract by- yes, first time buyers like I was when I purchased it four years ago.

Obviously, the ubiquitous negativity (from all media outlets large and small) surrounding the housing slump can definitely thwart the typical first time buyer's motivation. This quite often leads to searching for a rental and 'postponing' home ownership.

Then there's the financing issues derived from the aforementioned 'housing slump', and foreclosure rate, and sub-prime crisis, and failing banks, and- I could keep going and going. If you think about it, we're actually somewhat getting back to the way it used to be: to buy a house, you actually need money!

Lastly (but probably not really the last), there's price and demand in certain areas where first time buyers want to live too. The houses where they need to be, or want to be, or even grew up, have soared in price and demand.

My point is: there are obstacles and always will be. Let's not get too wrapped up in the bad news regarding our economy. Especially if you live or want to live in North Carolina! It's a market still holding strong with homes still gaining value! Remember: THIS IS A CYCLIC OCCURRENCE. The economy rises, the economy falls, and so on and so on. It's not a reason to stop buying, but everyones' standoffish behavior is certainly understandable. We'll get through it!