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Jon Boyd Ann Arbor Real Estate Buyer's Agent

Rant - They call themselves "buyer agents" but they are still missing the point!

I just read an interesting post here on Active Rain on the private "Member Only" side. It was about a real estate agent bringing in an offer from a buyer and trying to get the listing agent to respond in a professional way.

This is certainly a common problem in many markets, fortunately here in Ann Arbor it is the rare exception.

But in that post, the agent talks about trying to get the buyer to make a higher first offer. And out of about 50 responses none of the regular real estate agents even questions that effort.

Now it is important to understand that every negotiation and every transation is different. So there may be times when it is appropriate for a buyer's agent to suggest a buyer make a higher initial offer. But, in today's market that situation is not the norm.

If you are a buyer and you have NEGOTIATING POWER in the form of OTHER OPTIONS, then your best strategy may be totally different than what all those regular real estate agents naturally want you to do.

I'm not going to reveal the details here because some other real estate agents in our market sometimes read my posts, but, DON'T EXPECT A TRADITIONAL REALTOR TO BE EFFECTIVE IN REPRESENTING YOUR INTERESTS. Most of them still FOCUS ON SELLING YOU A HOME!

If you are looking to buy a home and you want a real estate company that will always be on your side, in your corner, and looking out for you, call us.

734-662-6240

Jon Boyd Broker/Manager
The Home Buyer's Agent of Ann Arbor, Inc.
1908 W. Stadium Blvd.
Ann Arbor, MI 48103

We serve the Ann Arbor - Brighton - Plymouth - Novi - Canton - Ypsilanti areas in Southeastern Michigan.

And we can guarantee that you will never be stuck with designated agency, dual agency, or non-agency.

The Ann Arbor MLS System Is Going Crazy Today!

It is funny how much we depend on technology in the Ann Arbor real estate business these days.

About an hour ago I started having problems with our MLXchange system. (That is the database of property used by the Ann Arbor Area Board of REALTORS.)

Today the MLXchange system was crashing a lot when I tried to look at some detailed property listings. To the point is was almost unusable. So I decided to take a break and catch up on some email.

Just now I received an automated email of a price reduction that sounded too good to be true. It is a West Ann Arbor home that would be priced around $245,000 and the price noted was $125,000. So, I pulled up the complete data and sure enough it looked like there was a big price reduction.

Well the listing agent is someone I work with a lot and she is normally very professional. As I looked at it closer something didn't make sense so I decided to call her and see if it was just a typo she would want to fix.

It turns out she knows nothing about a price reduction! It would appear that the MLXchange system reduced the price without human intervention!

Either that, or, it has let some quirk in the data slip by where somebody else's reduction was made on this property.

Very strange day for real estate!

Update: The listing is changed back to the original $255,000 price. I'll try to get an explanation from her the next time we talk.

As always if you are interested in finding the best home for your needs and buying it at the best price, give us a call. That is all we do and we do it very well!

Jon Boyd
Broker/Manager
The Home Buyer's Agent of Ann Arbor
Ann Arbor real estate's top buyer's brokerage

Exaggerated Listing Descriptions - Ann Arbor Real Estate Buying Expert Interview Published At CNBC, Bankrate

Being an expert involved with the National Association of Exclusive Buyer Agents (naeba.org) has given me some interesting national exposure.

A month or so ago I spoke Jay MacDonald of Bankrate.com about the exagerations we see in the listing information. As the Ann Arbor company who represents BUYERS ONLY we focus on being truthful and pointing out the nagatives of homes as well as the positives.

As a result of that interview author Jay MacDonald wrote the piece for Bankrate.com and it has been picked up by quite a few websites and mentioned on almost a thousand webpages. Here is an excerpt:

Most homebuyers have encountered a "lying listing" -- the house for sale that doesn't even remotely resemble its colorful description in the Multiple Listing Service or classified ad.

Jon Boyd, an exclusive buyer's agent and broker for The Home Buyer's Agent in Ann Arbor, Mich., recently showed a self-described "stunner" to one of his clients.

"The only thing that would 'stun' anybody about the house was how bad the previous owner did the work to ensure that every room would need to be redone," Boyd chuckles. "I don't know what was going through the listing agent's mind to say that."

Presenting all homes, even the nightmares, in the best possible light is part of the listing agent's job, of course. Most buyers know this and view colorful descriptions with a healthy skepticism.

Here is a link to the full article: ‘Lying Listings’

If you are interested in buying the best home at the best price, call our office to schedule a no-obligation meeting to talk about your needs and how we can help you. 734-662-6240

And don't forget to visit our Ann Arbor real estate webpage.

Rant Warning: Another Annoying Listing Agent Behavior

As an Exclusive Buyer's Agent office we show a lot of property.

And, we get opinionated.

And, this month I seem to be running into a lot of listing agents who are happy to tell me over the phone what a wonderful large or deep lot their listing has, but then they are too lazy to provide:

1. A copy of a mortgage report survey or at least some kind of written drawing of the lot and the boundaries. (Even if it is labeled as not exact or estimate, as long as it is what the seller thinks they own it is normally useful.)

2. The lot dimensions. (Tonight I'm showing a home in the city with a reported 1/2 acre lot, but there are no lot dimensions provided. Just a "the home has a deep lot".

Note to listing agents:

If your listing has a nice lot, get some specifics and share them. Thank you!

If you are looking to buy a home and you want a real estate company that will always be on your side, in your corner, and looking out for you, call us.

734-662-6240

Jon Boyd Broker/Manager
The Home Buyer's Agent of Ann Arbor, Inc.
1908 W. Stadium Blvd.
Ann Arbor, MI 48103

We serve the Ann Arbor - Brighton - Plymouth - Novi - Canton - Ypsilanti areas in Southeastern Michigan.

And we can guarantee that you will never be stuck with designated agency, dual agency, or non-agency.

House Officers Getting Bad Information About Mortgages?

It sounds like some incoming physicians doing their residency here have been receiving bad information about available mortgage options

The mortgage market has changed dramatically over the last two years. There are now only about a half dozen zero downpayment mortgage options now where two years ago there were about twice that many. (And they were dramatically more available.)

But, when you are buying a home you only need one mortgage, and if you are a physican here for your residency then realatively easy zero downpayment options are still available.

It will take some preparation and there are some limitations, but in general the Midwest Financial Credit Union is still a good option.

They offer:
Closing before first paycheck
Zero downpayment
Ignoring student loan obligations in most situations
No PMI (but a higher interest rate to compensate for some additonal risk.)
A physician friendly application process

Note: These loans are specifically for physicians, so they are not visible on the credit union's website.

You can reach the Credit Union at 734.769.4621
or https://www.mwfcu.org