Avoid Working with an Imposter REALTOR®!

No, I’m not suggesting that your agent has forged their real estate credentials…let me explain. Years ago I was out at Maplewood Mall in the upstairs food court eating lunch with my sons and teenaged niece (she’s a 30 something now so it was awhile back). As we shared our fast food fare, an attractive middle-aged woman dressed in very trendy clothing passed by but she was simply trying to hard to appear youthful. My niece mumbled under her breath, “Imposter Mom”. I had never heard such a thing but found it rather funny. Especially when the gal was well out of earshot, my niece emphatically added, “Imposter Grandma’s are the worst!”

My niece explained to me that an “imposter mom” was someone her mom’s age who impersonated a teenager in dress, hairstyle, make up etc. It’s a 40-something who steals her daughter’s latest issue of Seventeen Magazine and tries to be cool. It really doesn’t work. I thought it was hilarious and begged my niece to let me know if I ever was to cross that line.

So this conversation came to mind recently as I hear from people regarding working with real estate agents that are somewhat lacking in the professional department. These agents appear to be REALTORS®. They have real estate licenses, business cards and most even have that handy dandy key that opens those fancy electronic Supra lockboxes. But something is missing and it will come to light soon after the buyer or seller signs the contract. They discover their agent isn’t working full time in real estate. Some don’t want to pay the fees to get access to the electronic lockboxes. Some just don’t work enough to understand how to write a contract clearly as the forms change annually.

I have had the opportunity to work on the other side of a few deals with these imposters. There was the contract with a teacher who only planned to sell in the summer but took listings all year round anyway. Another deal was with a daycare owner who could only return calls after 6 or at naptime. And then there was the agent who worked full time retail who was impossible to get a hold of because of a constantly changing schedule. There are also agents who call or cancel appointments of properties with secure Supra lockboxes because they do not own an electronic key and cannot get into a listing.

As a cooperative agent, it is frustrating to work with an imposter real estate agent, but as a client, it could be down right infuriating! When a buyer signs a listing agreement or contract for buyer’s representation, it is important to ask a few questions regarding how much time and effort your REALTOR® will be putting into your sale or purchase. Finding a home or buyer for your home will take time and hard work on the part of your agent. Your REALTOR® should make the process easier from the time you sign your contract to closing day.

• How long have you been licensed to sell real estate?
• How many homes have you sold this past year? In your career?
• What percentage of your business comes from past client referrals?
• Are you a real estate agent or a REALTOR®?
• Do you work full time in real estate?
• Do you work individually or as part of a team? If part of a team, are do all team members have similar expertise and quality of service?
• How many clients, buyers and sellers, do you currently represent?

Did you know? Not every real estate agent is a REALTOR®. A REALTOR® is a member of the National Association of REALTORS® and abides by their code of ethics.

Finding the right real estate agent to work with means you will have to take the time to weed out the imposters. See I can overlook the bad styling of an imposter grandma, in fact sometimes they can provide a good chuckle. But in my mind, an imposter REALTOR® is the worst! Buying and selling a home is too important to be represented by someone who is less than 100% a professional.

Copyright 2012 Teri Eckholm

One Size Does NOT Fit All When Selecting a REALTOR®

One of my family's favorite places to visit on a trip to Walt Disney World in Orlando, Florida is the Animation Building in Disney’s Hollywood Studios There is a spot after the animation tour where a couple dozen would-be illustrators can go for a half hour class with a Disney artist. The class gives step-by-step directions on how to draw a beloved Disney Character. It the past we have had the chance to draw Mickey , Goofy, Pluto, Stitch and even Jack Skellington and Scrooge McDuck. Thankfully, talent is not required and the only art on display is the actual instructors. At the end of the session, everyone leaves with a drawing that somewhat resembles the character that is up on the screen.

The best part of the day is when we compare our drawings Here are examples of my family’s drawings from when my sons were in grade school. Though all of our drawings look like Walt’s old pal, Mickey Mouse, none are identical to each other (and definitely NOT as expert as the one draw by the instructor!). Lesson learned? Everyone who can hold a pencil and follow simple instructions can draw Mickey Mouse, but it takes talent and experience to become a great Disney artist!

Now in real estate, there is a similar situation; anyone can take a real estate class but not all REALTORS® are exactly the same.

Though, REALTORS® do take the same required classes and tests to become agents and adhere to a very specific code of ethics, we are people not machines. As people, we are individuals with different life experiences and talents. Not every real estate agent does things exactly the same way. We all come into each experience with our own talents, abilities and backgrounds. Through education, we may become similar but not identical.

So what does working with a REALTOR® really mean to a buyer or seller?

REALTORS® do abide by a Code of Ethics. In my Minnesota real estate practice, I take these rules very seriously. It is considered the standard of practice that I work under as I truly believe it is the right way to do business. Although there are many details to the complete code of ethics, here are a few points I would like to highlight:

REALTORS® pledge to protect and promote the interests of their client.
REALTORS® do not mislead on property value.
REALTORS® must disclose material defects and facts on properties.
REALTORS® must not discriminate.
REALTORS® must disclose dual agency.
REALTORS® are required to be accountable for funds.
REALTORS® must disclose accepted offers.
REALTORS® are required to provide competent service.
REALTORS® are not lawyers and cannot offer legal advice.
REALTORS® preserve the confidential information of their clients.

When selecting a REALTOR® make sure that the person is on the same page with you and can draw up and present the contract in a professional manner. Take the time to research and select a professional REALTOR® that will be your partner and advocate. Work with a person you like and trust to help you understand the process and negotiate the best deal for you!

Copyright 2012 www.terieckholm.com

How to Choose a REALTOR®—Don’t Focus on Fee. Service is the KEY!

I love a bargain! I always want the best deals on any products I buy. I scour the internet, clip coupons and negotiate with sales people for better prices on everything from groceries to clothing to vacations to new cars.

One place I do not negotiate is on professional services. My hairstylist was referred to me by a friend. She does an awesome job and is worth every penny I pay her (including the tip!). Likewise, our doctors and dentist came to us by recommendation. They are out-of-network from our HMO which means that we pay an increased co-pay for each visit. We could change our doctors and dentist to providers that are in-network and reduce our fees, but we would never consider giving up the quality of care we receive to save a few bucks.

Every time our family needs a new service professional, we use the same process: think for a moment which friend has been in a similar situation and call that trusted friend for a referral. A few years ago our family was in a car accident a few years ago and needed both and attorney and auto body shop. After two phone calls, we were in the hands of trusted professionals. Our son needed braces and we didn't shop around for the best price, we contacted a friend whose daughter was completing the process with a beautiful smile. We made an appointment for a consultation with the recommended orthodontist and a week later, my son had his braces. Not once did we try to negotiate a better fee with any of these professionals. We wanted the best possible service. We had no intention of compromising on quality for a lower price.

So what does this have to do with real estate?

Many times when I receive a phone call regarding listing a home, the first question from that potential listing client is "What is your fee?" as opposed to what will I do for them to sell their home. No matter what I answer, some of these clients will insist it is too high. I wonder how many of these people ask that of other professional service providers they use. It is just as important to understand WHAT service will be provided as it is to know HOW MUCH you will pay. In this slower buyers market, getting the home SOLD is the key to success. As a seller you need to ask questions regarding what quality of service will be provided prior to negotiating a listing fee.

My real estate service is full service.

From the time you contact me, I go to work.

**I consult with you and advise on how to prepare your home to get the best possible price.

**I analyze the market and assist you in properly pricing your home.

**I take the time to research to see if your city requires any point-of-sale inspections and recommend service providers for those inspections on your home, well or septic system.

**It is my job to prepare marketing materials, provide signs and hold open houses.

**I use my resources to develop an online presence for your property specific to your homes location and amenities. Lakeshore, acreage, townhomes, condos and single family homes all have unique qualities and need to be marketed online differently to attract specific buyers.

**I review offers with you and provide expert advice on the pluses and minuses of each purchase agreement so that you know when to make a good counteroffer and/or when to accept the deal.

**I work with the buyer's agent to negotiate the best possible terms as directed by you.

**If the purchase agreement included contingencies for other inspections or repairs, I assist you through the process.

From your initial phone call through the final paperwork, I am by your side as a professional REALTOR®, providing high quality service. From the amount of referrals I receive, I know that my fee is fair for the service I provide.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/