An Opinion from the Assistant
Pam Gifford, Assistant to Kimberly Gribbin
Before I started working with Kimberly, I use to think that REALTOR®’s and Brokers made too much money… That the fees I had to pay to sell a home was excessive. To pay 6% just to put my home in the MLS was stupid… Why would I as a seller ever agree to such highway robbery?
Until I started working in the Real Estate business I never realized what all went into a real estate transaction. How much education REALTOR®’s need to keep up on all the changes in banking and real estate laws? How much money it costs to maintain their real estate license? How much their insurances cost?
As independent contractors, Real Estate Agents have to pay for their print and advertising costs upfront, regardless of whether the property sells. That’s a lot of color copies at 40ȼ each. They pay for their memberships, National, State and Local dues as well as dues for the MLS system and the lockboxes they place on your house for key security. They also There is print advertising expenses as well as internet/online expenses if they want their sellers home effectively marketed to all resources, Realtor.com, Homes.com, Trulia.com, Zillow.com just to name a few. They also have to advertise themselves as a REALTOR®, so they get the phone call from the potential buyer or seller.
How much it costs in gas to drive clients around all week long? And what about the wear and tear on their vehicles? And the cleaning expenses---have you seen some of their cars? I swear they live in them sometimes. Or how many hours they work to show every client every home they wish.
All of these expenses are justified when the home ACTUALLY sells. What if the home doesn’t sell because it’s not what buyers are looking for today? What if seller doesn't agree about fair market value and over prices and the house expires UNSOLD? Then the REALTOR gets nothing and has spent their money during the process.
Not to mention being on the phone for hours, talking to banks, title companies and other REALTOR®‘s. All in an effort to help get the transaction successfully negotiated and settled. While simultaneously holding the hand of frustrated homeowners who are desperate to sell their house, before they lose it. First Time Home Buyers to be educated on terminology of the real estate transaction. Part of the REALTOR® job is to educate their clients about the home buying processes that will help them see their desires end result----a new home or a sold house.
With this intensely depressed market, short sales are more common. Short sales require more work than the regular real estate transaction. The homeowners despite stories about why they need to sell can way heavy on the hearts of the REALTOR®’s. Sometimes the REALTOR® is called upon to help home owners find refinancing for their existing home so they can afford to keep them. Not all agents just want to sell their home---many are willing to help homeowners understand the loan modification process and see if there is a way for the homeowner to keep their house---at least the REALTOR® I work for does.
I understand that not all REALTOR®’s are alike. A good REALTOR® can make or break the real estate transaction. A well educated agent can successful foresee problems and avoid them leading the property to a successful closing. A good Real Estate agent is worth their weight in Gold, and a bad one is not worth their weight in air.
After working in the business for @ years now I appreciate now what a real estate agent goes through when listing & selling a home or finding that perfect home for their buyer clients.
In my Opinion I don't think they are paid enough---especially today with all of the new rules and paperwork and time needed to get the job done.
When choosing a REALTOR for the sale or purchase the experience of the agent in today’s market matters---what someone did years ago does not mean they are up to date with technology and the products needed to get the job done.
Pam Gifford
Assistant to Kimberly Gribbin
Tuesday, February 23, 2010
Monday, February 22, 2010
Relax and let us process things!
Today's Real Estate market in York Co PA is full of inventory. We have everything available from starter homes for 1st time buyer, 55+ communities, detached single family homes both new construction & re-sales, condos and town homes and McMansions back to the prices of 2005.
The Ready, Willing & Able buyers are out there-they are on-line, attending Open Houses and keeping their Buyer's Agent busy looking at all of the options that exist.
These days, with darkness still early in the evening & 2 feet of snow still on the ground my weekends are slammed.
A busy agent is finding themselves showing different buyers properties all weekend long. On Saturdays-One set from 10-1pm another from 2-5pm then Sunday an Open House from 12-2pm then back out with buyers from 2:30-5pm.
As soon as the showing time arrives - buzz buzz buzz. The Blackberry is notifying me of a new email – It’s a Feedback request for the showing we are at that very moment.
Wow - there goes the email again--another showing feedback request from the last showing. This continues all day.
Before I can get home, eat & see my family for a few minutes buzz buzz buzz again. This time it’s the listing agent personally reaching out --Did you show my property at 123 ABC St today as scheduled? What did your buyers think? Are they writing? The sellers are anxious to know. Please provide feedback.
Hello- can we have a day to process things? We just previewed 5 homes. I DID receive your automatic feedback request-I actually prefer this way of providing feedback. Its non threatening and you can't get defensive when I give honest feedback about price & condition. We need a day to chat, run numbers & see what direction we want to proceed.
Relax-after all its 5pm on Sunday evening. Quite honestly until I am at my desk & looking at our notes I can't really give you a full feedback report.
I do understand at times you may need to reach out to an agent here and there but please give me the chance to respond. AND because we are pulled in so many directions on the weekends please understand this can wait till Monday morning.
Feedback is important for both the Realtor & Seller to know the public opinions of the price & condition. Beside the sold comparables, the feedback and response from the buyers is very important to agents & sellers alike.
Most quality agents that understand we, as REALTORS® work together. We respect each other and are often Sellers agents and want the same courtesy when you show our listings. The majority of us will complete feedback requests, just RELAX a little.
The Ready, Willing & Able buyers are out there-they are on-line, attending Open Houses and keeping their Buyer's Agent busy looking at all of the options that exist.
These days, with darkness still early in the evening & 2 feet of snow still on the ground my weekends are slammed.
A busy agent is finding themselves showing different buyers properties all weekend long. On Saturdays-One set from 10-1pm another from 2-5pm then Sunday an Open House from 12-2pm then back out with buyers from 2:30-5pm.
As soon as the showing time arrives - buzz buzz buzz. The Blackberry is notifying me of a new email – It’s a Feedback request for the showing we are at that very moment.
Wow - there goes the email again--another showing feedback request from the last showing. This continues all day.
Before I can get home, eat & see my family for a few minutes buzz buzz buzz again. This time it’s the listing agent personally reaching out --Did you show my property at 123 ABC St today as scheduled? What did your buyers think? Are they writing? The sellers are anxious to know. Please provide feedback.
Hello- can we have a day to process things? We just previewed 5 homes. I DID receive your automatic feedback request-I actually prefer this way of providing feedback. Its non threatening and you can't get defensive when I give honest feedback about price & condition. We need a day to chat, run numbers & see what direction we want to proceed.
Relax-after all its 5pm on Sunday evening. Quite honestly until I am at my desk & looking at our notes I can't really give you a full feedback report.
I do understand at times you may need to reach out to an agent here and there but please give me the chance to respond. AND because we are pulled in so many directions on the weekends please understand this can wait till Monday morning.
Feedback is important for both the Realtor & Seller to know the public opinions of the price & condition. Beside the sold comparables, the feedback and response from the buyers is very important to agents & sellers alike.
Most quality agents that understand we, as REALTORS® work together. We respect each other and are often Sellers agents and want the same courtesy when you show our listings. The majority of us will complete feedback requests, just RELAX a little.
Monday, February 15, 2010
It is not my fault you can not purchase a house!
All too often I feel as though consumers want to blame us, Realtors & Lenders, as to the reason they can not purchase a house. I have yet to meet a Realtor or Lender who is responsible for a potential buyers credit score, debt to income ratio, lack of savings, lack of job security,etc.
Buying a home is something we earn. We work hard, pay our bills, save for our future and live within our means. It is not an entitlement or something that everyone is granted---it is earned.
While I support the efforts to help bring some stability to the Housing Market I also agree that as a society we need to get back to the basics.
The 1st time Buyers Tax Credit and Tax Credit for repeat buyers is a great opportunity to take advantage of---however they should not be the reason you make such a large investment.
The local programs offered by specific lenders to assist with median or below median income level borrowers are again something to take advantage of but not a reason to purchase. These community & 100% rural housing mortgage programs are there to assist buyers that qualify not to replace some of the loosey goosey lending of days past.
While many sellers find themselves paying the majority of the buyers closing costs remember the seller too has cost involved with selling and that the buyers too have expenses to pay. If the seller is willing to pay some of these expenses on top of their expenses than it is a benefit and not an entitlement.
A buyer has an equal part in this process and likewise and equal responsibility: maintain good credit standing and scores by paying bills on time and managing credit wisely, saving for the down payment and closing costs, having realistic expectations of what is obtainable.
If in the end we are able to negotiate some closing costs assistance from the seller that is a bonus. When many sellers are being conditioned that the buyers are going to ask for this assistance it is not an entitlement and part of the process to being ready to own a home and the responsibility that comes along with such is showing yourself and the lenders that you are credit worthy and ready to handle the many demands of home ownership. Starting the process with savings and a healthy balance of credit management will better assist you with the financial responsibilities that come along with owning a home.
Remember as Realtors and Lenders we are here to assist you and be part of the team----you too are a team member in your own pursuit of Home Ownership!
Buying a home is something we earn. We work hard, pay our bills, save for our future and live within our means. It is not an entitlement or something that everyone is granted---it is earned.
While I support the efforts to help bring some stability to the Housing Market I also agree that as a society we need to get back to the basics.
The 1st time Buyers Tax Credit and Tax Credit for repeat buyers is a great opportunity to take advantage of---however they should not be the reason you make such a large investment.
The local programs offered by specific lenders to assist with median or below median income level borrowers are again something to take advantage of but not a reason to purchase. These community & 100% rural housing mortgage programs are there to assist buyers that qualify not to replace some of the loosey goosey lending of days past.
While many sellers find themselves paying the majority of the buyers closing costs remember the seller too has cost involved with selling and that the buyers too have expenses to pay. If the seller is willing to pay some of these expenses on top of their expenses than it is a benefit and not an entitlement.
A buyer has an equal part in this process and likewise and equal responsibility: maintain good credit standing and scores by paying bills on time and managing credit wisely, saving for the down payment and closing costs, having realistic expectations of what is obtainable.
If in the end we are able to negotiate some closing costs assistance from the seller that is a bonus. When many sellers are being conditioned that the buyers are going to ask for this assistance it is not an entitlement and part of the process to being ready to own a home and the responsibility that comes along with such is showing yourself and the lenders that you are credit worthy and ready to handle the many demands of home ownership. Starting the process with savings and a healthy balance of credit management will better assist you with the financial responsibilities that come along with owning a home.
Remember as Realtors and Lenders we are here to assist you and be part of the team----you too are a team member in your own pursuit of Home Ownership!
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