Showing posts with label How to choose a Realtor. Show all posts
Showing posts with label How to choose a Realtor. Show all posts

Wednesday, July 13, 2016

Is YOUR Real Estate Agent a Dabbler?


A decade ago, during the first big real estate surge, I was an agent. I started in the business a few years prior to when everything exploded. I didn’t become an agent because there was “easy” money to be made. I transitioned out of a corporate marketing job to help people through the complicated process of buying and/or selling a home. And when the going got tough, I didn’t hang up my license or take up a part time job for cash. I was a REALTOR® and in the business for the long haul. 

Once again the housing market is strong. And with the strong market come hundreds of new agents (and those dusting off their licenses that have been on ice for since 2007). These dabblers are jumping back into the real estate game. Often they start by contacting friends and relatives to “help” them as their first clients. Is your agent one of these real estate dabblers

Why it Matters 

One of the many things I have learned is that real estate is a business of continuous education and change. REALTORS® who are in it as a profession learn something from every transaction and apply it to their next deal.  A new agent or one who sells a home or two a year doesn’t have that bank of education to draw from.  This helps with negotiation when reviewing offers and writing an offer that will make the cut in a multiple offer situation. This is essential when assessing properties with a first time home buyer and determining the best list price for a property. 

My experience helping home buyers and sellers whether their move was during a down market or in this most recent upswing is invaluable to my clients. I put this knowledge to work to help them make the best decisions for their situation. In the past few months, my expertise has saved my client’s thousands of dollars regardless of whether buying or selling. Dabblers don’t have this expertise.

Who do you want on your side? A seasoned professional or a dabbler?

READY TO MAKE YOUR MOVE? Let me be your professional guide. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
 

Copyright 2016 terieckholm.com

Friday, October 4, 2013

Playing Words with Friends and Selling Real Estate with Ethics



I have always loved to play Scrabble; so much so that my family will groan at the mere mention of this game as a potential pastime.When I received a Kindle last Christmas, I quickly installed and became hooked on Words with Friends and my family rejoiced!

I have a few people I play games with every evening. Some of the other players are really my friends and some are random opponents who are apparently as hooked as I am. (FYI—I refuse to put this or any other game on my phone or I would never get anything done.)



The other day my college student son saw me playing and said, “You know people cheat at that game, right?”



I said that yes, I did know. I know there are apps that will give the best words and online resources to find words ending with x or z. I could play that way too, but I don’t. There’s more sport in a game if you don’t cheat, plain and simple.   

Because it comes down to one word, ethics. But I am not naive; I do realize not everyone has the same ethics as I do...whether playing online or working in the real world.



When I do a market analysis, I play fair. A past selling client recently referred me to a friend of theirs by saying I was a “straight shooter”. I kind of liked that label. 

Even though these particular clients didn’t like all of the things I told them in regard to getting their Forest Lake home sold, I laid it all on the table, the good and the bad. And with work on both of our parts, their house did sell. It was sold within their time frame, budget and they now happily relocated out west.



With their strong recommendation, I was called in along with several very good agents that work the north metro to do a market to do a market analysis for another property. As always, I was honest with my market analysis and recommendations. A week later, I got the call. These sellers went with another agent. I was not surprised or upset by this…it happens when we are all good agents. So, I asked how the final decision was made and who they went with.



The wife’s answer floored me. They chose an agent from out of the area but who said she worked in the north metro. This agent also told them she “sells most of her listings in a day or two via word of mouth”.



Though were selling very quickly this spring certain metro communities, was an anomaly in the Forest Lake area when there are several new construction developments within a few miles selling brand new houses in the same price point. Most homes in this particular development stay on the market 3-4 months at the very least before receiving an offer. This was true even as the market activity increased because the builders in the area had really ramped up their construction efforts.



Telling a seller what they want to hear, whether it is price, timing or any other over promise is not the way I do business. My ethics just don’t allow me to puff up my abilities in that regard to get a listing.



When I was interviewed, I did say I had sold a couple of homes in a matter of days this past spring, but I also said the circumstances were very different. I could not guarantee the same results for their home. If I had over-promised or lead a seller to believe that I could work miracles when it came to their home sale, I would have to deal with their eventual disappointment. An upset client is never a positive in a service business. So I was up front and honest but lost the listing. I was not upset by this…it is the only way to “play the game” in my book. It is not about winning a listing. When it comes to my sellers expectations, I don’t play around.



So if you call me to do a market analysis of your home or list your house, rest assured, I will shoot straight. You might not like everything you hear, but I will be honest. Using this information, we can devise a plan together that will get your home sold. Like I said, it is all about ethics (and a lot of hard work too!)


  

Copyright 2013 www.terieckholm.com

Tuesday, November 1, 2011

REALTOR® Selection 101—How to Choose the BEST REALTOR® for YOU! (Part Two of Two)

How does the average home buyer or seller find their REALTOR®? Did they meet a friendly person hosting an open house? Call their best friend's brother who just got licensed? Answer an ad on Craigslist? I don't know the percentages but I am certain that most home buyers don't spend any more time researching their real estate agent than they do their groceries. But a home is not an everyday purchase; it is too big of a decision to not have sound advice. So how does one select a good REALTOR® to work with?

The average American will buy or sell property only 2-3 times during their lifetime. It is imperative to have a logical process to select a real estate agent. Purchasing and selling a home for your family is a very emotional situation. If you chose an agent wisely, you will be confident that your REALTOR® is on your side through the entire purchase and/or sale even when your emotions are running high.


As a REALTOR® working in the Twin Cities north metro, I love assisting people to find the perfect home. Many of my clients come from the referrals of past clients but I also meet home buyers at open houses and through various marketing avenues. When I meet a potential client, I expect questions about myself and my business. I answer additional questions about living on acreage, wetlands and lakeshore. I field questions on properties in Anoka, Washington and Ramsey Counties. Sometime the questions are about specifics of homes the buyer is interested in and often the questions are about the real estate market in general. But unfortunately not all of these potential clients ask pertinent questions. Some are already be caught up in the emotional buying process of a major life change.

Here is a great step-by-step approach to selecting the perfect REALTOR® for you. This is Part two of a two part article. In Part One, I discussed how to mentally prepare yourself  for your meeting with potential real estate agents. (To read Part One, CLICK HERE.) in Part two I am going to outline specific questions you can ask of potential agents to help you make a better decision on which one will be the best partner in your home search.

Six questions to ask a potential agent

Do you have an introductory flyer or personal resume that you could send me prior to our meeting?
The way an agent promotes him/herself will give you a good idea of their professionalism. If you receive high quality, well thought out marketing materials in the mail within the next day or two (or immediately via email), the agent is on the ball. A well written, professional personal brochure should be part of a REALTOR®’s marketing materials. If you receive something of less quality or nothing at all, the agent might not be able to pay attention to detail throughout the transaction.

Do you work independently or as part of a team?

And, if the agent is part of a team, ask for more specifics, (i.e. If you are part of a team, who will I be working with most often?)

If you prefer to have someone who can immediately answer the phone and track down an answer, you might like working with an agent that is part of a team. But it is important to understand how the team operates. Some teams will operate with the agents being interchangeable where you will have one agent showing you homes to buy, one agent handling listing your home, and another holding the open houses. Often teams will have unlicensed assistance handling the incoming phone calls. An unlicensed assistant, while often friendly can't always answer specifics on a property or show a house.

If you want to work with the same person throughout the transaction, you may prefer an agent that works independently. Often when you call their office, the agent will pick up the phone. They handle all the details throughout the transaction and can answer your questions directly without waiting to contact another source.

Can you give me the names of past clients?

An experienced REALTOR® will have worked with any number of clients and will be able to provide you with a list of previous clients that you can contact as references. When talking with the references, it would be a good idea to ask if they had any problems during the transaction. If they did, ask how quickly and professionally they were resolved. Also ask how they met their agent. If the agent gives you only a list family members, a list of best friends from high school or no list at all, it may be concerning.

(For Buyers) Can You Help Me Understand My Financing Options?

If you are pre-approved for a mortgage but do not understand the financing paperwork after meeting with your loan officer, a good real estate agent should be able to peruse the documents to note any fees that do not seem correct. Sometimes a phone call by a REALTOR® to the loan officer on your behalf can resolve the issue. If not, most real estate agents have several good mortgage professionals that they have developed professional relationships with they can call upon. It could be in your best interest to visit with another loan officer to verify that all fees charged are necessary and that you are in the best type of loan program for your situation. Any real estate agent unable or unwilling to assist you in finding the tools to understanding your financing options might not be the best choice.

(For Sellers) What is your listings-to-sales ratio?

Some agents seem to have every house on the block or every house in a neighborhood listed. You see their signs in yards throughout the town. Their ads are in your local newspaper and in your mailbox. This is may be an indication of a successful REALTOR®. But the big question is “Did the homes sell?” In this slower buyer’s market, there are many more homes on the market than buyers. Do you want an agent that can successfully get you to list your home or one who will actually help you price and market it properly to get the home sold? If the agent is unsure of their ratio, you can figure it out for them. Ask how many homes they listed last year. Then ask how many listings they sold. (Make sure that the agent doesn’t include sales of homes where they represented the buyers.) Divide the listings sold by the total number of listings to get the ratio. If the ratio of listings-to-sales is less than 30-40%, you might want to select a different agent. Successful agents won’t sell every home they list, but their success ratio will be over 50%, even in a slow year.

(For Sellers) How will you market my home?

A comprehensive marketing plan should be prepared for your specific home prior to signing any contract. Good agents establish a marketing plan for each home they list. Your REALTOR® should provide you with a list of how they intend to market your home. They should outline what websites your home will be promoted on and the timing schedule of updated online ads. If there is going to be a sign in your yard, your agent should tell you whether their will be a brochure box with flyers for potential buyers driving by. Anything from the number of pictures in the MLS or whether there will be a virtual tour, open house or print advertising should be discussed and outlined.

Copyright 2011www.terieckholm.com

Monday, October 31, 2011

REALTOR® Selection 101—How to Choose the BEST REALTOR® for YOU! (Part One of Two)

How does the average home buyer or seller find their REALTOR®? Did they meet a friendly person hosting an open house? Call their best friend's brother who just got licensed? Answer an ad on Craigslist? I don't know the percentages but I am certain that most home buyers don't spend any more time researching their real estate agent than they do their groceries. But a home is not an everyday purchase; it is too big of a decision to not have sound advice. So how does one select a good REALTOR® to work with?

The average American will buy or sell property only 2-3 times during their lifetime. It is imperative to have a logical process to select a real estate agent. Purchasing and selling a home for your family is a very emotional situation. If you chose an agent wisely, you will be confident that your REALTOR® is on your side through the entire purchase and/or sale even when your emotions are running high.

As a REALTOR® working in the Twin Cities north metro, I love assisting people to find the perfect home. Many of my clients come from the referrals of past clients but I also meet home buyers at open houses and through various marketing avenues. When I meet a potential client, I expect questions about myself and my business. I answer additional questions about living on acreage, wetlands and lakeshore. I field questions on properties in Anoka, Washington and Ramsey Counties. Sometime the questions are about specifics of homes the buyer is interested in and often the questions are about the real estate market in general. But unfortunately not all of these potential clients ask pertinent questions. Some are already be caught up in the emotional buying process of a major life change.

Here is a great step-by-step approach to selecting the perfect REALTOR® for you. Part one of this article outlines how you can prepare yourself to set up meetings with potential REALTORS®. Part two (which I will post tomorrow) will give you specific questions you can ask of potential agents so that you can make a good decision.

Step ONE
Ask YOURSELF these few questions



1. Who do you trust for advice?

Is it a parent or grandparent? Maybe a close friend or uncle? Or is it your sibling or boss? Think about the qualities that person possesses and why you look at them as an advisor. If your trusted advisor is your grandfather, you might prefer working with someone older. If you tend to bring your problems to your best friend, you might want a REALTOR® with similar characteristics to your friend.

2. How demanding are you?

If you are an impatient person who needs answers as soon as you think of a question, you will need a REALTOR® that is available to you. If you are more laid back, you might prefer a REALTOR® with a similar style.

3. Do you prefer to use email, text or the phone as your main source of information?

Some REALTORS® are very computer savvy and will answer an email within a few minutes. Some love to text with their clients to provide an immediate answer. Others answer emails once a week and don't even know how to send a text There are REALTORS® who return calls only one time a day or week. There are others that always answer their own phone and others that have an assistant to field calls and answer basic questions.

4. Are you into gadgets?

If you are listening to your Ipod while you surf the net on your wireless tablet, you might prefer working with an agent who presents your market analysis in a Powerpoint presentation or emails it to you in a pdf file. If you prefer a paper document to refer back to and make notes on, a REALTOR® with more a more traditional style might be what you need.

5. Do you have expensive tastes and exclusive brands or do you live more modestly?

If you like the finer things in life, you might have more in common with a REALTOR® who drives a BMW and signs contracts with a Mont Blanc pen. If you have a more relaxed style, a REALTOR® in a Ford or Toyota Sedan that uses personalized ballpoints might be more your style.

Step TWO
Research


Even if you have just made mental notes on your preferences as you read the above questions, you now have a good idea of what type of person you prefer working with. Armed with this information, it is time for the second step. RESEARCH Check out websites of potential agents BEFORE you meet them. Read their blogs and review their profiles to determine what their style is. If you cannot ascertain their style from their site, move to the next agent. There are hundreds of good agents out there. But if they cannot market themselves, how will they be able to market your home? Come up with a list of 4 or 5 potential agents and visit your state’s department of commerce website to check for violations on each potential agent’s record.

Now you are ready to interview potential agents. Get some great questions ready so that you can find the best REALTOR® for you. Having trouble coming up with great questions? REALTOR® Selection 101—How to Choose the BEST REALTOR® for YOU! (Part Two of Two) will provide you with some tools to help with the interview process.


Copyright 2011www.terieckholm.com

Thursday, December 2, 2010

A REALTOR® Working Hard to always have that “Little Extra”


Today I was working on pulling a CMA or comparative market analysis for a potential client. When I do a CMA, I spend quite a bit of time selected comparables and figuring out the optimal initial starting price as this is a difficult real estate market. What I do not spend a lot of time with is the collateral information that I put in with every CMA. It is the extra information that tells the new client “how I work”. I spend much time with this information because frankly, the way I work hasn’t changed since I started and wrote up the information several years ago.

For some reason today, the information on the first page just caught my eye. I am not changing a word but I do want to share what my business philosophy is. It is just one quote and 6 sentences. But this short statement gives insight into who I am and how I work.
“The difference between ordinary and extraordinary is that little extra.”
~Barbara Jordan
As your REALTOR®, it is my job to understand your needs and respond to them promptly, professionally and with integrity. It is my pledge to provide you with sound real estate advice, helping you understand the wisdom of the decisions you make.

By being your REALTOR®, our relationship is built on trust. Value and service will be provided before, during and after the transaction, so that your changing needs are always addressed and satisfied.

It is not only my business philosophy, but also a commitment to provide you with exemplary personalized service beyond your expectations. My practice is to listen, hear and truly understand your needs; a quality of business conduct that often seems to have been forgotten in today’s fast paced, highly automated society.
Whether you are considering buying your first home or selling the home you have lived in for years, it is important to realize that not every REALTOR® works in the same way. While other agents may pay lip service to statements such as these, making promises that cannot always be delivered, I take an honest approach and work with you to find the best way to get the job done. I take time to explain the real estate market and if things change, work with you to adapt to the situation in a way that will work best for you. This is truly how I work; anyone who knows me can tell you this is who I am. If you want to work with me to sell or buy a home, I will be your partner in the process from start to finish.

Copyright 2010 Teri Eckholm

Tuesday, July 20, 2010

I Can Hold My OWN Hand!

Several years ago, just as we were about to step off the curb into the busy parking lot of the local Target, I attempted to take the hand of my almost three-year-old son when he announced to my husband and I, “I can hold my own hand!” And being obstinate and two, he did.

He put one chubby little fist inside the other behind his back and attempted to step off the curb and into traffic. Realizing his need for independence, we explained the dangers of his actions to him. (Hey Buddy...Drivers have no way of seeing a tiny person below their windows as they back up their cars.) We compromised. He was allowed to hold his own hand everywhere except busy parking lots and when crossing the street. Then he would be required to hold mommy or daddy’s hand or hang on to the stroller for his own safety.

That precocious son will be heading off to college in a few weeks and the mom in me is again struggling as he “holds his own hand” and steps of the curb into his future. He doesn’t need mom or dad to help with many things anymore. He is well prepared for the real world or at least this next part of it.

Holding your own hand is good in life but there are times when one must rely on a professional to help them through a new or difficult situation. As a real estate agent, I realize most clients want to “hold their own hand” through a transaction with the knowledge that when they will need to “step off the curb” I will be right by their side there ready to explain and guide them through every step of the process. Whether it is a question from a home seller at the time of listing the house about whether they should start looking for another home now or wait for an offer or a first time home buyer wondering whether a townhome or single family home would be a better investment, I am there ready to educate and assist. A good REALTOR® knows it is important for the client to make the decisions—it is our job to guide and educate our clients through the home buying or selling process.

Are you ready to step off the curb and need a good REALTOR® by your side?
If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.



Copyright 2010 Teri Eckholm 

Tuesday, July 13, 2010

What I HATE About Car Shopping—Is What Some People HATE About Buying a Home



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We need a new car and have needed it for several months now. We have the ability to purchase one but have avoided the car lots like the plague. Why? Because car salesmen lurk there!

We have browsed on the internet for as long as possible but it was getting to the point of a test drive to make our decision. Last Saturday, my husband and I took a deep breath and decided to head to the Hwy 61 White Bear/Maplewood car mile of car dealerships to really get started.

We started off slowly…First we drove through a few lots without leaving the car. Then we had lunch. Finally, we could avoid it no longer and we got out of the car.

Our first stop was one that we had made before. It was a dealership where we had purchased a used car a decade ago and in a moment of great courage had stopped by last year…Did I say we really need a new car? No haggle pricing is their motto. Translation: No negotiation. (But who pays full price it this market, right?)

As luck would have it, we were approached by the same salesman we talked to a few months ago. At that time their brand was being discontinued but this guy told us it was definitely going to be picked it up—we didn’t believe him and we were right. We asked a few questions about a car on the lot but they no longer had the exact model car we wanted. This vehicle was larger and more expensive. We asked about the no haggle policy and were told that was still firmly in place….then he hedged and said he had never seen anyone get more than a $500 discount. (I guess they aren’t set in stone after all are they?)

Next, we headed over to a import/domestic dealer that had some awesome pricing on brand new 2009 models. With 2011 models coming in and 2009’s on the lot we figured it was worth looking a different brand than we had in the past. Here’s where things went from “finding someone to help us BUY a car” to “Someone SELLING a car to us”.

Let me tell you…I hate being SOLD anything!

We parked in the back and perused the lot first. According to their website, there were five 2009’s left and we only could find one on the lot. There were dozens of similar models in 2010 but none had all wheel drive or the options that we were interested in.

When we came around the building Mr. Eager Beaver jumping into action…He stuck out his hand to my husband and introduced himself.



“Hi Eager here. What can I do for you?”



We introduced ourselves and told him which car we were looking at.
“There isn’t a better deal out there for $17,995. We have one in White and one in Black? Which one did you want to see?”




We had looked over the white one but could not find the black one. He said with a smile that they hide the best deals but he would locate it for us. Then he started to talk about the price in the newspaper ad being a low price with a military discount and loyalty discount.

“But I saw you drive up in a GM car right? So not to worry, you get that discount…Not, military? I have to add $500 to the price.”



Wait a second…The priced on the car windows and the prices on the internet are not the prices without discounts? We are going to ADD to the prices? So far it was $1500 higher than advertised. Hmmm…That doesn’t seem fair.

“Well everyone is doing it so we have to in order to stay competitive.”



Seems wrong I said as we walked up to the black car we were looking for…this after looking in several cars for the right one. As we found it, we saw another salesperson and customer leaving on a test drive in the same model and year white car.

“Well there goes the white one now…You’re not too late though. Write a check for a $1000 and it can be yours until we get the details worked out. Just tell me which you prefer, white or black and I will get you the car! "



Excuse me…we aren’t going to write a check for anything until we finish asking our questions, researching and test driving.

In a condescending voice as if placating a small child, he says,

“Go ahead. What do you want to know? But you won’t find a better deal than on the two you were looking at. I’m just trying to help you.”

Okay…We want to understand why all the tags in the windows of the four red cars are at different prices.

“You are wrong,” said Eager. “They are all the same price…give or take. Depending on options.”



I tried to be clearer. I told him we were trying to figure out what the different options are and how they affect the price so we can decide which options and car will work best for us.

“Okay but, trust me, they are all the same.” Eager says. “We will have to look at each car.”



One by one he looks at the window sticker and drags us father down the row of 2010’s. Two of the cars did have almost identical options and prices somewhere in the $18900 range. We get to the third car and he says,

“See they are all the same car and same price. But we have another full back lot of cars if you want to look at a few dozen more,” Eager chuckles.



By this time, my husband is reading the window stickers and I am looking at the handwritten prices on the mirrors. The third red car has a big price tag of $19500. Eager’s last little joke was the last straw. Annoyed I say, “Let me understand this. They are all the same $17,995 as in the paper, if we add in $1500 for the non-discounts to the prices. But the signs say $18,900, $19,500 and…” now I am at the fourth red car. “$20,100? We don’t have to look at anything else. We are done here!”

My husband saw a bewildered Eager literally throw his hands to the heavens as I walked straight to our car. I was upset but my husband was laughing as we left. Probably due to the fact that he had the funny picture of Eager pulling his hair out while I was frustrated with the lack of information and assistance we received.

We did make it to a third lot but said. “Just looking” whenever approached by sales people.

So what does my rambling have to do with real estate sales?

One thing…I don’t sell houses. I let the houses sell themselves!

I don’t push people into buying something without allowing them to get all the information on the property they require to make their decision. I don’t lie about prices, discounts or the property itself. I present the information on the house and help people understand the paperwork. I inform them on what questions to ask as a buyer and why it is important to disclose everything about the property as a seller. I assist in negotiating a price that makes it a win/win for all parties involved.

Letting a house sell itself works for both buyers and sellers. Home buyers do not want to be rushed into a home purchase. They need to process and understand what they are buying or buyer’s remorse could set in and they will quickly back out of the deal. A seller needs their home to be properly marketed without over-selling it. A house that is oversold and pushed on a buyer without adequate information could leave a seller open to problems and possible lawsuits.

Mr. Eager Beaver might have had a sale Saturday if he would have just calmed down, provided us with the information we were requesting and gave us a few moments to process what we were hearing and seeing. Instead, he tried to hard to sell a car. He was so busy selling, he lost a sale.

In the market for a REALTOR® that knows how to market a property and let homes sell themselves? I would like to help. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.



Copyright 2010 Teri Eckholm

Rent Continues to Rise in Minneapolis & St Paul MN

The September Rent report just released by ABODO shows te average rate to lease a one bedroom apartment in St Paul to be increasing ...