Bill Lumpp (Realtor, GREEN)

I started out this morning looking at sales graphs for Nash County NC. I have a report from Rasberry Shackelford & Associates with pretty graphs, flow charts, little dots and lines, and usual ups & downs. I am sure you have seen these graphs before, they all have "statistics" that someone feels are worth showing in a graph form. I wanted to write a blog discussing these findings and maybe even compare two or three. I wanted to show how the market looks and compare values to sales, sales to years/months, etc...you know...something to make me look good and "smart"

Well after looking at these graphs and a few calls from a couple of listing clients asking when I was going to sell their home I decided that those pretty little graphs do not mean anything! That my knowledge of the market, my daily study of the activity, and my interaction every day as a full time Realtor was all I needed! The information from those graphs is confusing and remind me a quote from another agent, he says you have lies, dang (he used a different word) lies, and statistics! So I am going to speak to all my clients now and future, here is how to sell a home in this market!

1. Listen to your Realtor

2. Get your home ready (clean, de-clutter, remove pet odors, stage, etc) again listen to your Realtor

3. Make sure your Realtor takes great pictures and place them all over the Internet

4. Price your home to sell (not what you want, not what you paid, not what you owe, not what your friend said) again listen to your Realtor (and his/her knowledge of the market)

5. Let your home be shown EVERY TIME, meaning have it ready all the time

6. When you get an offer, listen to your Realtor...this may be the best and only offer you get

The following is what you should look for when talking to a Realtor

1. Knowledge of the market

2. Knowledge of the Internet

3. Look at their web site, online blogs, online information, etc

4. Do they stage the home

5 Are they a "yes man" or a "facts man"

People want a deal or they will go somewhere else to get it...

Bill

Everyone remembers the Andy Griffith show, in NC it is a show that everyone must watch to be allowed to stay in the state. The show was about a small town sheriff that handles all the problems of the day with just listening. He does not carry a gun, does not chase the bad guys, and does not raise his voice. In fact his deputy always does the opposite, Andy always comes out on top and Barney usually ends up shooting the floor with his gun in his holster.

I bring this up because for the past 6 months I have been out of business cards. Those little rectangle information slips that are normal for those trying to do business with someone else. The first "visiting cards" appeared in the 17 th century France and have been around ever since. I went to a Century 21 Convention in the fall and thought I would need them, but the only people that wanted my card also wanted to worry me with emails about their products. I go to Realtor open house's and the Realtors want my card so they can "draw" my name for a chance to win $25, hardly ever win anyway!

The times I meet new clients I have told a little white lie and said "I forgot a business card"! Most are probably thinking GOOD because I was going to throw it away anyway, leave in my car, or find it in the washing machine! BUT I have always turned it around and said "can I get your email and cell number"? I then email them my information and web site.

I know that Andy had a gun back at the office and used it when he had a big problem, so I am sure I will order some new business cards..someday! But to be honest, like Andy I do not use it as crutch, see Andy did not pull out his gun he just listened and reacted. If I just handed my business card to everyone because that was what the norm has been for the last 400 years I would not listen to the needs of the client, would not ask for their email and cell, and would wait by the phone for them to call me!

On the flip side of this I believe in putting my name on things that would stay in the clients view (IE pens, key chains)! So do I order more business cards? What do you think of business cards? Do you have a better idea that you could share? Can I get your email and cell number? :)

In NC we have a new "Offer to Purchase Contract" effective January 1 2011. It comes with a few changes for us and before I had used the contract I was really not looking forward to using this new contract. I am OK with "new" and I like change..but this contract seemed to be weird, strange, maybe even silly. That was until I wrote one and discussed it with my buyer. You see the new NC offer has wording like "due diligence"! They wanted buyers to pay for this due diligence period and write two checks to two different people. They (the NC real estate commission) wanted people to loss money for walking away from a deal. Wait maybe that is OK..Yeah that might make buyers think twice about being dumb and walking away.

OK so here is how it works; look at the outline below

=========================================================================================

*________________________________*---------------------*

Offer Due Closing

Signed Diligence (Settlement)

=========================================================================================

The left * starts the deal with everyone signing the contract.

The solid line ___ is the due diligence period (a negotiated period of time that the buyer pays the seller for directly at the time of offer), the buyer pays for this time, the seller can not sell the home during this time, and the buyer can walk away for any reason or no reason during this time, the buyer holds all the cards during this time! If they buy the home the fee is given as a credit. The buyer must do inspections, appraisals, etc during this time.

The middle * is the due diligence date (end of the due diligence period), why is this date important? ONLY if the buyer has money on both sides of this * The date can be up to closing and is a very important date. After this date if the buyer walks away they now will forfeit their Earnest Money (Due diligence money is paid to the seller and Earnest Money goes in the listing agents escrow account)...PLEASE UNDERSTAND FOR THIS DATE TO BE IMPORTANT THERE MUST BE MONEY ON BOTH SIDES OF THIS *

The ---- line is the waiting period...the buyer is done..if they walk away now they will forfeit both Earnest Money and Due Diligence money. My opinion is that this line should be short, the buyer wants it to be short on the right and long on the left, the seller wants it to be short on the left and long on the right.

A few thoughts:

-if the property is older or looks like it may have inspections issues the buyer would want as low as possible due diligence money

-The seller needs something for their time, someone taking their home off the market for 6 weeks for free is not a good idea

Any thoughts?

Whether you are looking for a Realtor because you have a home to sell, you are looking to purchase a home, or you are a Realtor that wants to referrer a client to you must look for something different. The times are very different and so is the way you look for a Realtor. The following is a list of negative terms, items, habits, or traits that you should avoid when looking for a Realtor in 2011.

-Agent does not text

-Agent does not have a smartphone(email phone)

-Agent still thinks the newspaper is the best place to sell a home

-Agent has never heard of a Blog or Active Rain

-Agent does not understand Facebook

-Agent does not believe in a lead system to follow up with clients

-Agent hand writes their contracts

The following terms, items, habits, or traits should be embraced by your Reatlor/Agent.

-Google the agent, you should see many things about them online and on the first page of the search

-Ask the agent what kind of phone they have and if they text message

-Ask the agent what web sites they use, what is their own web site, and if they enhance web sites

-Search for the agent on Realtor.com, Trulia.com, Zillow.com, Activerain.com, and other top real estate web searches

-Ask the agent if they use Craigslist.org

-Ask about Facebook, you want an agent that uses Facebook in an effort for people to get to know them...if they only post homes, that is an agent that does not respect their Facebook friends.

-Lead follow up is very important and a lead system will automatically remind them to check in with the client

-Ask the agent how often they check the MLS hot sheet, a good agent will look at the MLS hot sheet several times in a day and will study and know the market very well

-An agent that hand writes their contracts may leave something off and more important will probally not know how tosend itin an email.

A good Realtor should be able to supply you with a marketing plan for you or your client really quick and it should include many online search methods. An agent that uses modern tools can work smarter, get information to a client faster, and will have smoother closings. I look forward to your thoughts on this subject.

Rocky Mount, NC does not have the short sale inventory like a lot of places around the country and to be honest Rocky Mount does not have the agents or buyers that understand the short sale process. The short sale process is very easy because I have found a short sale Attorney specialist! You may ask, "is there a few for that"? Sure he has a fee, but the best part is he negotiates the fee with the bank. He handles everything for the buyer, the seller, the agents, and the bank!!! Because Rocky Mount has so few short sales don't you want an agent that is smart enough to find someone that knows? It is like when you get a speeding ticket, sure you can go to court yourself but the attorney you hire will get you off FOR SURE!

I have a home on the Rocky Mount reservoir that is short approved, the short sale attorney is involved, and everyone is ready to make this work. If you are looking for a deal on the water or any other short sale home in the area give me a call!