I had a meeting with a potential seller who instructed me, "Julie, give me the advice that you would give you brother-in-law about marketing his residence." His suggestion was a very interesting approach and it effectively enabled us to communicate very honestly and directly with one another (even though I do not have a brother-in-law)!
This gentleman made me aware that I do become involved in my buyers' and sellers' requirements as if they were family, despite the fact that, really, I am just one of the highest paid guests in their residence-or soon to be residence.
Sellers are entitled to feel that their real estate representative will use every ounce of expertise at their fingertips to secure them the best sale in today's market. As well, buyers are entitled to feel that their real estate professional will help them identify the residence of their dreams and then negotiate the very best terms possible.
It's all about respect. Respecting the persons with whom you are working guarantees success. I can achieve this best by viewing each transaction through the eyes of the buyer or seller-even more so, as if they were family. Happily, many of my clients have become friends, so my investment in their real estate purchase has paid me back twofold.
I have also found that working with an efficient and skilled co-operating broker is enormously satisfying when you both remember the common goal and act responsibly and respectfully. Participating as a member of the Realtor Association of Fort Lauderdale's Professional Standards Committee also strongly reminds me of the underlying responsibilities in representing clients. The support and friendship of many talented agents in Fort Lauderdale has aided me in achieving my clients' goals.
Maintaining respect is not always easy, especially on demanding days or with difficult clients, but it is part of my objective, as a "go to" broker to work with everyone as if they were family and maintain the respect so necessary to a healthy and profitable working relationship for all parties.
How do you keep the respect going?
Or . . How to navigate contract-to-closing in today's market.
On a recent flight from the Luxury Real Estate conference in Vegas, I sat watching the flights update on the air traffic monitor and realized there are some interesting similarities between flight scheduling and closing contracts.
Some flights are flawless. All passengers arrive on time, the flight takes off, weather is perfect, the journey is a breeze, the landing smooth. Everyone is relaxed. Then there are other flights destined to be delayed, or the ride is bumpy along the way and the landing leaves everyone clutching their seats. Of course, there are also those flights, like the low offers received on some of my luxury offerings, that never quite take off and get cancelled for a variety of reasons!
After many years of piloting my real estate transactions, I have learned the valuation lesson that much of the skill involves negotiating the contract and then taking it to a smooth landing/closing. The skill, as in so many areas of expertise, is in the attention to detail and making sure that all of the circles are completed as the closing date approaches.
Some of the common pitfalls here in South Florida exist across the board. Unless the residence is brand new there are always items of repair to be addressed. In this challenging market, the inspection process can make or break the contract and certainly shape how comfortable the flight will be coming into closing. Smart sellers approach repair items ahead of time, if at all possible, to avoid being responsible for unnecessary expenses.
The changing finance arena has also demanded extra vigilance. What are the terms of the pre-qualification letter? Is it recent? Is the property going to appraise? If there is an interest rate stated in the financing contingency, then this rate needs to be supported by a lender's endorsement? Sometimes additional money may be required to secure that rate. Is there a bank capability letter to support a cash contract? Are the contract timelines all in sequence, practical and making sense? Sellers expect the contract to move forward as quickly as possible whilst buyers need the time to complete inspections and obtain financing if required.
Sellers and buyers alike are well advised to hire the independent advice of an attorney before entering into a legally binding contract. This is not because the realtors are unable to answer questions or keep the transaction smooth but because solid legal advice can be invaluable if the flight goes off course.
Here in Florida we also research the permit history for the residence and help buyers source appropriate insurance support. During the hurricane season this can become a serious issue if the state is under a storm watch, then the flight has potential for turbulence. I am very fortunate in that I have a team of professionals working with me and we all work hard to ensure smooth landings.
That all said, I consider living in Fort Lauderdale pretty close to paradise. It is always a pleasure watching the plane land when the seller and buyer can sit at the closing table and be satisfied that the flight was worth taking! How are your recent flight experiences?
As an avid high heel fan I would like to raise the discussion as to whether it is acceptable to kick your heels off during business hours.
On extremely busy days of multiple property showings, I have been known to remove my heels to open 20,000 square feet of residence in ten minutes. On the other hand, I managed to impress one of my clients by sprinting across a car park in four inch heels. I'm discovering that putting pressure on all 52 bones is a challenge some days, and that is when the heels come off.
In my real estate arena, I have found that "bare-footing" seems to fall into two camps: one, the fans (there is even a society - barefooters.org) and, two, those who are deeply offended by the sight of toes!
While some home owners welcome bare-footers, others definitely prefer that one's digits remain covered. Providing booties at a few of my luxury offerings strikes the happy balance to protect light carpeting or hard wood floors.
It is interesting to think of the cultural differences when it comes to bare feet. In the Philippines, shoes are removed outside the residence in respect and to avoid tracking street dust and germs into a home. Asian cultures require that shoes are removed to honor elders by maintaining silence. In Japan, shoes are removed at the door and are often replaced by slippers. Some religions favor the removal of shoes for worship.
I love my shoes, yet I appreciate my barefooted moments, so I can find reasons to support both camps. How do you conduct your "shoe etiquette" in the real estate world? Are you footloose or shoe-shod?
On a recent SouthWest Air flight to a Who's Who In Luxury Real Estate conference in Las Vegas, I read story about a man with a profession I never knew existed. Cameron Hughes is a professional crowd pleaser who literally makes a living by getting spectators out of their seats. Hired by team managers, Cameron describes himself as a Fan Gladiator. He works to win crowds by giving the something they've never seen before.
Cameron created his role as pressure grew in the pro sports arena to generate value for fans in the experience at the game regardless of the outcome. Cameron makes fans feel excited and connected to the entire entertainment experience and uses his position to raise funds for Breast Cancer Research in dedication to his Mum.
It occurs to me that as a real estate professional, you and I also need to be an accomplished crowd pleaser. Not that anyone is going to jump up and scream "Dee-Fense" at the average showing, but you do have an audience to excite when you open the door.
First, there is the potential buyer and maybe their entire family, business manager, friends, etc. Then you have the co-operating broker whose impression is also very important to help create the value of your listing and provide that endorsement at the end of the day. So, each and every showing is an opportunity to win over the crowd.
As always, you only have one opportunity to create that first impression. Just like Cameron prepares to stand up with his cheers, t-shirts and amazing energy it is our responsibility to be prepared with professional sales materials, floor plans and market data. Who wants to go out into the crowd without the right gear?
It is not as though the crowd will go wild upon achieving a sales contract. However, you can certainly expect some excitement from the buyer, seller and their supporting brokers. That is so worth a cheer and a round of applause. Lots of luck and much appreciation to all the real estate crowd pleasers and the sellers and buyers creating all the excitement in this challenging market.
Not all resort vacations require travel. Those of us lucky to live and work in Fort Lauderdale need not travel far to experience a bit of stress-relieving decadence. I've conducted some "back yard" research and discovered luxury weekend vacations are only a coconut's throw away.
Beach side resorts were my target for this search. I started south by the Port Everglades Inlet and worked north. I predict the first "back yard" vacation could begin in the long-established oceanfront resort, Lago Mar, at 1700 South Ocean Lane, nestled between the beach and Lake Mayan in Harbor Beach.
Rated one of the best resorts in Fort Lauderdale by Zagat, Lago Mar will restore your serenity with their "hidden" tropical location, their 6000 square foot, state-of-the-art spa, a specialty restaurant offering Northern Italian cuisine. Visit www.lagomar.com for more information.
A short jaunt north on A1A brings me to the Marriott Harbor Beach Spa and Resort. Located on the ocean at 3030 Holiday Drive, this Marriott offers a family Spa Package where for an annual fee you can enjoy the resort amenities at a discount whenever you choose. For our weekend getaway, however, indulging meals at any of the five, fabulous restaurants (room or beach-side service for the truly hedonistic), booking a spa day or lounging at the beach or lagoon pool makes for an excellent vacation. Cocktails while listening to live jazz at night ends the perfect day. Visit www.marriottharborbeach.com to learn more.
I imagine Jimmy Buffett cruising along A1A as I travel to my next get-away. The fabulous Ritz-Carlton (www.ritzcarlton.com) at One North Fort Lauderdale Beach Boulevard offers spectacular overnight packages to accommodate spa, romance or family requirements to meet the most discerning or extravagant budget. The sheer luxury of the Ritz makes the weekend get-away that much more memorable.
Finally, I found The Atlantic Hotel a few more blocks north also meets my luxury-meter for a weekend escape. Their in-room message treatments are superb. The Spa Atlantic uses native products crafted from, in their words, "the world's most natural ingredients." How can one resist? Their ocean view restaurant, Trina, is a place to indulge in fine cuisine while enjoying open-air luxury. Visit www.atlantichotelft.com to get away that much faster.
Each of these locations includes waterside activities, such as diving, parasailiing, or just plain basking in the sun. Would you, too, like to indulge in a get-away in my back yard?
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved