Mike Jaquish Keller Williams Realty, Cary, NC

Using "Find Your Home" on my site, MikeJaquish.com to search for a home in the Raleigh Cary area, just got better!

Today, Hal and the guys at Goodtree & Co. took my new IDX real estate search solution, BestHomePro, "Live." Hubba Hubba!

The user interface is revolutionary among third party search providers. It is map-based, and uses Microsoft Virtual Earth as the mapping solution. Microsoft Virtual Earth offers aerial photo views, Microsoft 3D images, and "Bird's-Eye" views. Birds-Eye views make me feel like I am right in front of the home, and then allow me to circle the home by pressing the rotation arrows. One fact I really like is that MS Virtual Earth is also the mapping solution for the Triangle MLS. We have consistency in presentation when offering clients automatic MLS searches or seeing results in our IDX searches.

We now also have access to local businesses, services, and schools, parks, and recreation on the map with BestHomePro.

The search will rank the results in the order of "Best Fit" to your criteria, which you will input with the use of sliding scales, depending on how important each feature is to you.

I am a huge supporter of visitors using agents' search solutions without registration, without fear that Realtors will pester them regularly trying to force a sale. If I can be of service, I hope that the visitor would be comfortable enough to just "raise their hand," and make a request.

BestHomePro does require that users register when saving a search, saving homes, sharing listings with others, or other advanced uses beyond searches. They need contact information to drop a cookie onto your computer to identify you, I guess. Hoping my cookie is chocolate chip.

Users need to know that my personal policy is unchanged. Use the search feature as much as you wish. Save searches. Share homes. I respect your privacy, and will drop you a personal email welcoming you after you get the automatic welcoming email. After that, you will not hear from me until YOU contact ME, with a need or question. No Hassle Home Searching is here to stay.

So use it. Drive it like you stole it. Get comfortable. Pop over to Apex, NC, or up to Morrisville, or anywhere in Wake County. Find that home, and don't hesitate to let me know that you need further help.

Welcome to BestHomePro and "Find Your Home!" Come back often and call me when you care to.

I have heard a lot lately about Realtors "Creating Urgency" in prospective Buyers.

I don't like it. At all.

I don't like the concept, that someone should be pushed by a real estate agent to commit to being a Buyer. Why? So I can pocket a little more cash? Is that being a strong fiduciary? I think it seems too often to be self-serving.

My Buyer Clients are folks who have already made the decision that they will be homeowners, whether first-timers, move-up Buyers, or folks relocating to the Raleigh-Cary, North Carolina area. They will create their own urgencies, from their own lives. They are intelligent enough to recognize the factors in their lives that lead them to want to buy a home, whether it is a need for a sense of pride of ownership; needing space for two big dogs, a garden, or kids to run in; ownership for a cost comparable to renting; or other compelling factors.

Whatever. Their reasons for becoming Buyers, while common among all Buyers, are THEIR personal reasons. They don't need me to unctuously push them to buy.

I can help them estimate the costs of ownership vs. renting. I can help them see what $300,000 will buy in Cary, NC. I can help them know what utilities may cost, and why heating and cooling costs will be more in a 2200 SF single family home than in an 800SF apartment. Great. But I don't work up a lather trying to get them excited about making a move into their own home.

Now, once they make a decision to become homeowners, we go into a high level of activity. But, always with an eye on the clients' needs, not thinking that they have to perform with a sense of urgency so I can get paid.

Seems fair to me, as a fiduciary.

Having established that North Carolina Agents will need to disclose Additional Compensation, agent bonuses, and legal kickbacks and valuable awards from third parties when showing homes, I think there are several great questions for smart clients to ask. I would ask them if I were a prospective Buyer in the Raleigh Cary area.

See, the new North Carolina Agency Fee Disclosure rule operates at the Managing Broker or Firm level. Technically, that is the level at which the client engages agent services. The Client is technically not hiring the specific person, the "Individual Agent," but is actually engaging the firm. So disclosure is intended to clarify the total compensation paid to the firm.

The true intent of the new NC rule is for the consumer to clearly understand agent compensation details in case it appears that additional payout may divert an "Individual Agent's" focus to personal compensation and away from fiduciary duty. Smart Buyers will be aggressive and ask the "Individual Agent" a few questions that go a little beyond the new rule.

The following questions should help the prospective Buyer Client understand and gain clarity:

1. Will you personally make more money if you sell us a listing from your firm, or listings from your specific office?

2. If "Yes," how much money might that be? Will you disclose this amount to me upfront when showing me such homes?

3. Are you involved in any sales contests based on internal office sales volume with an award above nominal value to be presented to winners? What is the value of the awards? Do you expect to win?

4. Will you readily show me homes listed by other firms? Will you have to show me your firm's listings first?

Smart Buyers will require clear and satisfactory answers with no hesitation on the part of the Individual Agent. And, as always, an agreement in writing regarding full disclosure is far superior to any verbal agreement.

What fun! A hearty welcome to NCAR Form 770!

Often when I see a group of people squirm, I start to grin, and I had that opportunity over the last couple of months when contemplating the new NCREC rule regarding Additional Compensation Disclosure.

Squirm.... Squirm... GRIN! GRIN!

Gosh, what a low blow! Now an agent has to disclose in writing (writhing?) any co-broke or agent bonus above a negotiated "baseline" prior to the client entering the decision-making process on a property. This mostly impacts Buyers' Agents, due to the nature of co-brokes and bonuses. It is uncommon, although possible, for the Buyer to pay the Listing Agent, and that would likely require disclosure, too.

Revised NCAR Standard Form 201, Exclusive Right to Represent Buyer, requires in Section 4 for the Buyers' Agent to negotiate and establish with the Buyer an expected level of Agent compensation. The "baseline." Then, in Section 4(b)ii, the Agent and Buyer indicate whether the Buyer will compensate the Agent for any shortfall in compensation below that "baseline."

Should a Listing Agent offer a bonus or higher co-broke to a Buyers' Agent, the Buyers' Agent must disclose the dollar value of the additional inducement prior to the client entering the decision-making process. This requirement includes the estimated value of trips, cruises, etc, that an agent can earn via multiple sales in a neighborhood. That cruise value must be at least verbally disclosed to all clients the agent brings during the promotion. The disclosure will be documented in writing prior to writing an offer.

Offering a referral to another agent? North Carolina now requires the referring agent to disclose the referral fee. That may help an agent reconsider shopping clients for the highest fee, rather than for the best agent fit.

If you like the lunch money kickback you get from the home warranty company, you can still get it. You will disclose that payment to your client. Gee. Maybe we will have fewer listing agents fighting tooth and nail to order a warranty the week before closing, when it has no bearing on the transaction, no value going forward for their Sellers, and they have to sell the kickback to their clients so they can keep the lunch money.

Driven by a scandal wherein a builder paid bribes under the table to an agency in violation of RESPA and all that is holy there, this rule will generate tons of fun.

We are seeing Buyer Agent bonuses as high as $10,000 (And rumor is they are as high as $50,000--$60,000 in the NC Mountains) and co-brokes as high as 8% in the Raleigh Cary area. The inducements to neglect the fiduciary duty and to put the agent first can be difficult to withstand. This disclosure rule hits us at a good time.

That's my story, and I'm sticking with it!

Ashley Woods is a neighborhood of 138 homes located in west Cary, NC.

Development of the neighborhood began in 1993 with just over two dozen homes. With more than one builder in the neighborhood there is a variety of home types for everyone. House styles include ranches, and transitional homes with some including basements or walk up attics. The builders include D.R. Horton and David Weekley Homes.

 Homes in Ashley Woods offer 3-4 bedrooms, 2-3 full baths, fireplaces, and bonus rooms. The square footage of the homes in this community range from approximately 1650-2500 square feet.

Schools are managed at the county level and school assignments for the Ashley Woods community can be determined through Wake County’s public school website.

Recent homes sales reflect the variety of housing options in Ashley Woods. Recent home sales are in the $245,000-$425,000 range.

Property taxes are approximately .678% of the property’s assessed tax value. Ashley Woods has a Homeowners Association. HOA fees are $200 annually.

Ashley Woods is an excellent choice for those who prefer small neighborhoods and desire a great west Cary location.