MetroWest Homes Blog

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1. Write on a topic "Slightly Controversial".. No one wants to fall asleep while reading .. at least not you.

2. Write on a topic YOU Yourself would definitely respond to..
That way you attract "Like Minded" people.

3. Write about 3 or 4 short, concise paragraphs.  That way you hold the reader's attention.

4.  Write in short groups of sentences. Repeat yourself only to emphasize, and end when you end, Period.

5.  Include a picture if you can.

6.  Try being a little "flippant"...  If you're a boring person let them find out AFTER they're "sucked" into your blog LOL..

7.  Never say with "Blah Blah" what you can say with "Blah"...

8. Use your own personal experiences when writing.

9. Never lie!

10.  Be respectful of replies, and don't attack, but don't let yourself get slapped around too! 

11. Life is a game! Don't take yourself TOO seriously.

12. Always make sure your "1 minute elevator speech" is in all your posts! Your "USP", (unique selling proposition)...

13. Make friends on ActiveRain. You can't win them all, and making friends doesn't mean being a "Yes Man".... ,but have a good attitude and it will reward you.

I love real estate!

Been in this profession for over 26 years now... Some things NEVER change!

One of the things I LOVE about the most in this profession is the way some of the less informed agents seem to have a knack for "knowing" how to be a real estate agent, ofterntimes not even being in a position to know, without VERIFYING what they are "hollering" about...

Here are a couple of the latest "complaints" I've heard from agents in the past year.. Some are REALLY REALLY Funny!

1. "You can't say what you do and your commission program online!" I actually had a very upset agent call me a couple of months ago yelling at me like I was her ex-husband LOL! 

YES I CAN! I can talk about how much I charge all day long! UNTIL I TURN BLUE in my face!  I can print flyers, send them out, publish them on my website, (Click here TO VIEW)... make paper darts and shoot them all over Massachusetts, yell them through a bull horn, anything!....

As long as I don't discuss what specifically my competition charges I can say ANYTHING about ONLY what I charge and what I do to anyone who's willing to listen, period!

When I explained all this, I heard a little frsutrated muttering, and she babbled a bit about how she didn't like my doings, and SLAM! She hung up...

By the way, I NEVER asked her what she does...

LOL...

2.  Here's another I love.. "You can't offer a rebate or incentive to a seller to also buy a house from you.... "

Well, I had this checked by multiple attorneys and an MAR (Massachusetts Association of Realtors) attorney and they reviewed my program.

YES I CAN!

In some states, that may be seen as  giving an "unfair" incentive to a seller... It may even be illegal.

I don't know and I don't care.. In your state, YOU should check...

BUT it's fine in Massachusetts!

As Massachusetts Realtors, we have a WONDERFUL Resource. The Legal Hotline. When in doubt, DON'T ASSUME! Go through your broker.

But of course, you have to follow the letter of the law... and it may depend how it may be handled due to the type of financing the buyer gets.,..., but if done correctly, it's possible...

Don't let anyone tell you, "You can't do that!"....

I consider this issue terribly "anti consumer" and certainly ridiculous!  If I buy a printer at OfficeMax because they are giving a FREE Case of Paper along with every purchase and Staples isn't, should I tell Staples to tell OfficeMax they are NOT being fair?

Isn't THAT "Anti-consumer"..?

My Advice? Check! Call Knowledgable attorneys. Call your State Realtor Board's Legal Hotline! Ask! Don't take your competitor's word for it! Chances are they're blowing smoke and they really don't know!. Don't do anything before you know either way..Verify first!

The above are just TWO small examples of ridiculous conversations I've had with agents from all over. One other agent recently accused me of NOT having a contract with the seller because I give the seller (with conditions) the right to sell their property on their own and option to NOT pay a commision if they want to. It's called "Exclusive Agency" Aside from the philosophical view, their "accusation" was totally off the wall and rather insulting. Another example of "accusation without research"... In my MLSPIN area, you cannot even place a listing in MLSPin without a listing agreement.

I've even been told by another agent I couldn't legally allow a seller the right to sell their own property (with conditions)..

That WAS funny..

Note: I am NOT discussing company policies here. What you or your broker decide, as a matter of policy, is at YOUR discretion. That is NOT what this post is about. I am ONLY discussing legalities and of course I am discussing Massachusetts..

I'm not taking sides... My point on THIS post is to tell you, the next time someone screams at you; "You can't do that!", you need to be calm, grab the latest Copy of the Realtor Code of Ethics or other proof, and then prove what you already know...

That's is how you raise the bar. That's how you put the "professionalism" in being a Real Estate Agent, or Realtor, if you are one....

Ah, what a day when you look at Craigslist.

In my over 26 year career in real estate, sometimes I get asked about homes that are advertised as "Rent to Own". I usually "cringe"... I don't know how receptively they're looked upon in YOUR market area; in my area I don't think they are a great option.

As a matter of fact, they're most likely just plain awful, Why would someone want to do "rent to own"? What type of buyers and sellers do you attract with "rent to own"?

Desperate, mostly...

Let's talk the truth here. For a seller to open themselves up to all the potential headaches of "rent to own", they probably can't sell their house, but HAVE TO MOVE. They HAVE to move. Either they won't lower the price, can't lower the price, or won't qualify or consider a short sale. So they pick off the "last resort". They venture in the world of "rent to own".,.

For buyers, in THIS market? They'd had to most likely be slightly delusional. Unless they get the property for a steal, and I mean A STEAL, why would they do this? In a declining market, it almost won't happen anyway. It may not appraise for the agreed upon price, unless there is a clause written to address this.

So, before I continue, let me review the "rent to own" scenario, The seller has a home and they advertise it as "rent to own. They usually mean, the buyer is a tenant and is entering the transaction AS A TENANT. THey sign a lease for a year or more, and the landlord MAY agree to put aside a certain percentage of the rent towards the purchase price, usually the downpayment. If the buyer doesn't go through at the end of the lease or at the agreed time, they generally LOSE that money and the seller - owner keeps it as part of the rent. Unless the buyer MUST have that property and doesn't have a deposit for financing, rent to own usually attracts buyers who can't buy... maybe for a long long time. They hope their credit gets better. Maybe yes, maybe no.

What types of sellers go for this? Either the ones that are doing the buyer a favor, like parents, friends, etc... OR... sellers who are so desperate they decide THIS is their ticket. But if it's overpriced to begin with, it may, and I EMPHASIZE "MAY", it may take years for the overpriced figure to catch up with the market. With more and more people doing short sales, some of them ask me, brusied credit and all, "Jim, let's look for rent to own"? And now, the landlords of these homes, found far and few, won't rent to tenants like these, unless THEY are ridiclously overpriced, and will pretty much take any live body the minute they walk in the front door. Problem is, some of these "buyers" got burned before. Even if they don't qualify now they won't go near anything that they consider overpriced.

And the cycle never ends...

What are YOUR thoughts?

USP?

Unique Selling Proposition.

Those three words carry SO much weight. They stood out from all the other words SO prominently when I first realized their signifigance as I was reading "The Millionaire Real Estate Agent", by Gary Keller. I must have read that book in 2004 or so and I never could get that concept out of my head.

Having a "USP", or Unique Selling Proposition, is a way to SEPARATE YOURSELF, to differentiate yourself from ALL the other real estate agents out there; your competition.  Although most real estate agents, to a certain degree, have some sort of USP, it seems to me the majority of them have never defined ExACTLY what makes them different. Unique.  They'd fail the test miserably if a potential client or customer asks them one simple question; "What makes you so special?"

You can laugh, but you can't believe the number of agents I personally see start to sweat when asked that question. Some start stammering, absolutely struggling to find a point of "uniqueness. A couple actually get angry and try to ignore or deflect the issue. Still, some others simply start rattling off what they can remember their particular brokerage has in terms of service, but very few, if any, have ever defined a USP of their own.

Ever since I started asking myself that question, I eventually knew I could never rest until I could answer that question, simply, directly, and with no "fluff". It was a process for me, I had to go through a couple of "USP's" before I could adopt one I felt comfortable with and believed in, and it also took a "leap of faith", with a decision to stick to my guns and embrace the USP, and go past a "point of no return", offering my USP permanently.

Let me add, in order to have a USP, there MUST be 3 points that need to be aligned.  They are;

1.  Your brokerage must agree to and accept your USP. They need to allow you to practice your USP. As long as your USP is honest, ethical, and workable, if your brokerage allows you to use it, great! If not, ask them to explain WHY. If the answer is unsatisfactory, you may want to consider switching brokerages.

2.  Define your USP by investigating. Your USP doesn't have to be something you alone created; that may be impossible to do with the limitations of real estate practice and law. However, if you investigate and find a USP someone else is using, at least have the common courtesy to ask the originator for permission to use their USP.  I did and I never regretted it.  My USP is the "HassleFreeListing" approach. Sell your house yourself and pay no commision! (Exclusive Agency) Fire me at any time (Easy Exit).  I found all the USP's I needed in someone else's website, from a Mega Agent in Phoenix, Arizona, Russell Shaw. I first heard of Russell through "The Millionaire Real Estate Agent" and subsequentally through a blog, Bloodhoundblog.com. As I said, developing your USP is a process.  Always ASK FIRST before you borrow or use someone else's ideas!  The last thing you need to do is create an enemy or cause bad feelings.  I asked and am glad I did.It's the right thing to do and by NOT asking it can be construed as "plagurism. That is plain wrong

Nothing stood out for me from all the other USP's I saw; most of them were cheap gimmicks. The "NoHassleListing" approach practiced by Mr. Shaw and his team was the ONLY USP I kept going back to. It was fresh and daring; Which leads me to the third point...

3. You need to take a "Leap of Faith" and take that risk.  I see from a lot of agents they feel a little "intimidated" if you tell them to allow the seller to sell their home themselves and pay NO commission or if you say to the owner "cancel (not withdraw, but CANCEL!) the listing anytime you want, for ANY reason (before they accept an offer, of course), no problem!" , a good amount of agents start sweating.  That's fine with me, I don't sweat because I understand and EMBRACE MY USP!  The trick is to have a USP that works! You're running a business, think "transaction to transaction" based and that's not a business; that's a job. 

I'm not going to fully explain my USP here; for more information, you can go to my site at YourHassleFreeListing.com and read more about it. Don't treat your USP like a secret, and don't be afraid to expose and flaunt it. If you're hiding it you probably shouldn't be using it. If it makes you SO uncomfortable to openly and proudly display it you probably should look for something else. Either that or you haven't yet taken that "leap of faith". You shouldn't care what other agents say, think, or do. I've had a couple of agents call me nuts, a couple look at me like I'm Satan in disguise, and a couple who just shake their heads and tell me to be more "traditional. When I hear from a seller and they tell me they CAN'T cancel their contract with their present agent-agency and feel "trapped", I know I'm on the right track. When you pick and embrace a USP, the words come naturally to you, and you believe it. When you believe it THEN you can sell it. 

Without a USP I feel agents either get "lucky" for awhile and sell but the unpredicability is a killer. Agents who are successful year after year almost always have a USP, although some probably don't even know it.  A USP can be as simple as YOU YOURSELF!  Your task is to put it in words.  What is the differentiating factor a potential client has when he or she is looking at you versus other agents? In market areas with at least over 1000 agents, I think it's IMPERATIVE for you to find your USP.

Think of it this way; would you rather have a USP, or would you rather be "part of a collective"?

Used by attrition by Creative Commons from User gundampilotspaz  "The Borg" Star Trek Experience, Las Vegas Hilton"

About a year ago, I was talking to a fellow agent about how we run our businesses.  Probably, that was my first mistake right then and there. (Just Kidding)...

However, I told that agent, no matter what I tell sellers when I look at their property, I could hit them in the head with the "TRUTH Sledgeahammer" all day long, a lot of them STILL opt to list with yet another agent, who agrees to list their home for "a little overpriced" and they wind up for the most part, either NOT selling their home, or accepting an even LOWER price than even I recommended, because after several months have passed, 19 open houses and weeks of NO Calls or activity, the sellers finally reduce the price and/or their agent FINALLY gets through to them, or sometimes FINALLY gets the courage to tell them the truth, at the risk of losing the listing.

Believe me, if the sellers won't bring the price down in this market, you really have nothing to lose, period.

So, against my better judgement, I decided to adopt a slightly "softened" version of my listing acceptance policy, one that I STILL TELL THE TRUTH, of course, but instead of turning down listings, to list them "a little overpriced", if the sellers really insist. And I mean REALLY!

This of course is ridiculous.  With Zillow and so much information out there, buyers simply have so much to choose from. They won't waste their time with a seller, or agent, who's playing pricing games.  Sellers are in competition for attention. I give sellers the best exposure I can; with an overpriced listing, all that's accomplished is .... NOTHING.

So, why would an agent overprice a listing today?

Two reasons I found.

#1. They are hoping a buyer candidate who doesn't know the price and hasn't studied the market will call, most likely from a sign call, appraisal be damned!

#2. They are hoping the seller will realize the price is too high and get desperate or realistic and reduce the price on their own. Of course they hope NOT to become another "expired" (failed to sell) statistic.

Well, I should've known.

None of my listings "expired".. I canceled them myself after repeated attempts to reduce the price. These sellers just don't want to "get it".. They'll keep "agent hopping" until they either change their mind or lower the price low enough to reality.  

One reason I like listing short sales is they are REALISTICALLY priced. I'm NOT insulting the intelligence of today's average buyer.

So with this, I'm returning to my "tough as nails" policy.  Maybe I won't get the listing, BUT the feeling you get knowing you stood your ground and acted like a TRUE professional, and turned down a listing that most likely won't sell, well, try it! I betcha you'll feel like a million bucks!

I was writing an offer to purchase for a client of mine on a HOT listing that purportedly had 6 offers in and possibly more coming.  While on the phone with the agent, I asked (as a dutiful buyer agent sometimes should) if there were any conditions that the seller preferred that perhaps I and my client may not be aware of that that the seller would "prefer"... The answer I got warranted this blog post; the agent suggested I write in the "special conditions" section the following;

"Home Inspection will be performed for 'informational purposes only"..

I have to laugh whenever I hear or read that. The above "condition is an example of what I like to call "unenforceable" entrapment"; to which anyone that writes that 'clause is attempting to show that there will be NO negotiating after the home inspection. Let's dig in and look at the absurdity of the clause.

Let's pretend I write that clause in.  In this case, the offered price of the property went up around 15% of the original asking price. Within the time allotted, my client has the home inspection. The home inspection reveals some major issues that were NOT apparent and not mentioned (the seller says they didn't know, and we have to assume they are being truthful.)  Still, my client wants the house.  Out of the 6 offers, one of the buyers is relieved; they changed their mind and are glad they didn't get their offer accepted. One prospect buyer ruined their credit in a week (Yes, it IS possible to do that...), and two found other homes.  The remaining buyer, excluding my client, offered full price, however that would be 15% LESS than what my client offered.  Of course, all of this information is unknown to either myself or my client.  My client, after getting the home inspection results, decides to back out of the offer.  Yes, they would have preferred to pay 10% over asking price, not 15%, as a "remedy" for the home inspection, however, since they feel "psychologically" strong armed into backing out, they do.  I might make an attempt to renegotiate, but I'm immediately met with resistance; "a promise is a promise, blah blah blah..."

In this case, everyone loses. My client loses the money spent on the home inspection; the seller either sells the home to the other buyer for 10% less, and the other agent probably did not do their best or give the best advice to their client, the seller. 

Don't put stupid clauses like that one in offers.  If you want to "strong arm" a buyer, ask for a $1,000 "non refundable" deposit in case they back out of the deal after the home inspection. Personally I think THAT's stupid, too. Unless the price is RRRREEEAAAALLLYY low, or there is something extremely desirable about the property, why should my client be potentially penalized for any material defects not known before the offer was submitted?

Sometimes in negotiating, I get the feeling some real estate agents are their own worst enemies.  I don't know where all these "bright" ideas come from.  This clause to me is worthless, and I strongly discourage agents and clients from "even going there."...