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

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

It's the Weekend! Let's Hit the Road and Check Out Open Houses!

It’s almost spring! (Okay...after the winter we have been having we can pretend right?) Now that springtime-buy-a-new-house bug is starting to bite. You know that little feeling that tells you that this is the year to buy a new home.

Interest rates are low still at record breaking lows (and we know they cannot stay there much longer). There is a great selection of new and existing homes. And frankly, you are just tired of renting!

So how do you go about finding a first home? Most people start on the internet. Since you are reading this, it is a good bet that your first step will be an online search. But after spending days, weeks and months online, now its time to venture outdoors and see some houses.

So on a perfect winter Sunday, you start driving by some of the properties that were presented so beautifully on the computer screen. You see the real estate signs and the open house arrows, you drive slowly past the home but can't step on the pedal that will slow the car. You are frozen with questions.
What will you say to the agent in the home?
What do you do?
Relax. You are not alone. Many first time home buyers panic outside of an open house because the are unsure of what will be expected of them after they walk through the door. Heck, some aren’t sure before they step over the threshold whether or not to ring the doorbell or just walk in. So you are in very good company if you have been driving by your dream homes.Here’s a few tips for getting the most out of attending real estate open houses.

1. Get out of the car! Sounds so simple but you can tell more about the home from the inside of the house than the inside of your car.


2. Walk right in! If you feel self conscious, ring the doorbell first just for fun. That way you can be certain it works.


3. If the agent doesn’t say “Hello”, say it first. Let them know you are just checking out the place.


4. Take a look around. Check out every room, closets, basements, attics and ask the agent questions about the home.


5. While you are checking out the house, check out the agent. Size up REALTOR to see if he or she is someone that you would want to represent you in the purchase of your home.

Here’s the thing, the first home you visit may or may not be your dream home after all. Heck, probably not even the second or third one will have that "IT" factor for you.
But stopping in open houses gives you a unique opportunity to size up REALTORS. Yep you want to check out several agents to find one that you would want to work with for the next few months. (The home buying process can take a 3-4 months ....you want to make sure you LIKE the person you are working with!) If you take a Sunday and go to 6-7 open houses, you will meet 6-7 different agents. Some you will like; some you will hate; and one you will downright love to work with.
When you make that connection with a REALTOR, sign a buyers’ representation agreement, visit with a loan officer for pre-approval for a loan, and then have your agent show you every home on your short list. Not all home owners allow open houses. Working with one agent will save you time and frustration and allow you to quickly see all of the homes you have been scouting out online.

So what are you waiting for? Get in the car and get out there. Your perfect home and REALTOR awaits!
One Last Tip...If you really don't think you can get out of the car, start visiting REALTOR blogs to get a feel of an agent's personality. Find a few agents that you like and call them to discuss your needs. When you make a connection, sign a representation agreement with the agent. Now your REALTOR will set up private showings and take the open house pressure away.

Copyright 2011 www.terieckholm.com

REALTOR® Selection—One Size Does NOT Fit All!

The Animation Building in Disney’s Hollywood Studios is my family’s favorite places during our bi-annual treks to Orlando. (Okay I still call this park what is now known as MGM Studios, but that is just me.) There is a spot after the animation tour where you (and 30 or so other would-be illustrators) can go for a half hour class with a Disney artist and be given step-by-step instructions on how to draw Mickey , Goofy, Pluto, Stitch or another beloved character. Talent is not a prerequisite. At the end of the session, everyone leaves with a drawing that somewhat resembles the character that is up on the screen.

As soon as we finish, we compare our drawings. Here are examples of my family’s drawings from one class on a previous trip when my sons were in grade school. Though all of our drawings look like Walt’s buddy, Mickey Mouse, none are identical to each other (and definitely NOT as good as the instructors!). Lesson learned? Everyone who can hold a pencil and follow simple instructions can draw, but it takes talent and experience to become a great 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.
Recently a prospect, not someone I was under contract with, asked me to write up an offer on an REO property for him. It was a home under construction that had gone back to the bank. This foreclosure property would require significant work and renovation to complete, so it was significantly overpriced. This prospect wanted to make an extremely low offer that I deemed fair considering the condition. He was ready to write a purchase agreement at our next meeting. As part of the preparation process, I went into my spiel of what is required to make an offer; we would first enter into a representation contract, please bring a checkbook for earnest money and preapproval or proof of funds letter…yada, yada, yada.

This guy was beyond shocked and I got an earful! In short, he stated that he was NOT going to prove his financial situation to anyone prior to the offer being accepted. It was his opinion that working with a REALTOR® to write and present the offer should carry enough weight alone to get the offer accepted.
Hmmm…let’s forget the financing aspect of this situation; I’m more concerned with the implication that all REALTORS® are created equal.

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. From time to time, I see a contract from a fellow agent that is just not up to snuff so I know that there are a few that don’t do consistently do what is required to represent their clients it the best possible way. So I was taken aback by the implication that by virtue of working with a REALTOR® one would not have to justify their funding to a seller.

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. It is in the client’s best interest to provide the seller with a professional, sincere and concrete purchase agreement from the get go. Lowball offers without documentation do not get noticed, it gets tossed in the trash. As your REALTOR®, I want your offer to be given serious consideration by the seller and ultimately accepted. That doesn’t happen if it goes from the fax machine to the shredder in less than five minutes.

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 2009 Teri Eckholm 

Would YOU Hire a Bikini-Clad REALTOR? How About in a Hospital Gown?

Valentine’s Day started out for me with a visit to St. John’s emergency room in Maplewood. No worries, I’m okay. I found out after a few hours of tests that I tend to faint when in extreme back pain but I digress…While waiting behind the curtain in a gown that opens in the back without much else on but socks, I heard one of the nurses discussing her search to purchase a first home with a colleague. Just a few feet away from me, I could clearly hear the discussion. “Looking for a home in Forest Lake or Hugo….Great homes on the market…This one is a foreclosure…I don’t really know what short sale means…”

Yep the REALTOR® radar kicked in but alas I’m not exactly dressed for success in the hospital issued garb. Besides I was still feeling a little woozy after the early morning fainting spell. My husband jokingly offered to go out and give her my card but I declined. It is hard to be viewed as a professional REALTOR® and discuss homes in your skivvies between a blood draw and EKG.
I guess I am just not THAT aggressive when pursuing a client.

I do know of an Anoka County real estate agent that is very aggressive. I heard tales of her amazing ability to drop everything that she was doing to run over and offer her services to every car that drove up to the home she had listed across the street. I heard the tales from a less-than-impressed family that had the unfortunate opportunity to be met by this real estate agent at their car. She was sunbathing when they stopped for a flyer. The aggressive agent didn’t bother with a towel but high-tailed it over, barefoot and bikini-clad, to ask if they wanted to see the inside of the home. They declined and drove away. FAST!

I know I am a very good REALTOR and buyer’s representative. I would have been able to expertly assist the young emergency room technician to purchase her first home. I know the market and have been taking buyers to see foreclosures and short sales all over Blaine, Forest Lake and White Bear Lake for the last several months. I may have even been in some of the homes that she had printouts for. But as a professional REALTOR®, I chose to remember there IS a time and place for everything. This wasn’t the right time.

I prefer to save my aggressiveness for the negotiations and find my leads when I am fully clothed!

Copyright 2009 terieckholm.com

Revisiting the Idea of BUBBA--The Opposite of FSBO

Buying as a BUBBA is down in 2007 though still higher than FSBO. What is a BUBBA you say? It is a Buyer Unrepresented by a Buyer’s Agent. In 2006, almost a quarter of all buyers’ were BUBBAs. In 2007, according to the National Association of REALTORS® 2007 Profile of Home Buyers and Sellers, that percentage has dropped to 16%. Is this possibly due to all of the short sales and foreclosures that started appearing across the country at that time and buyers felt a NEED for the services of a knowledgeable professional? Maybe…I wonder if the number will drop again when NAR’s 2008 survey comes out in November.

At any rate…Buying as a BUBBA is still happening at a higher rate than FSBO (16% vs. 10%). As the real estate market becomes more complicated, professional assistance is more critical than ever when buying a home. Here’s my original post from back in March 2007, where I explained the BUBBA acronym in detail….Enjoy!

****************************************************************************************************************BUBBA—The Flipside of FSBO
Originally posted 3/9/07 by Teri L. Eckholm

Most people, whether in the real estate industry or not, have heard of the FSBO--A For Sale By Owner seller. The acronym has been used for quite awhile as there has always been a segment of the market that chose to sell their home directly to a new buyer. But, there's a new acronym being used by REALTORS® these days--BUBBA or Buyers Unrepresented By a Buyer's Agent. It is making it's way into the real estate agent vocabulary because this market segment is growing.

In 2006, according to the National Association of REALTORS® 2006 Profile of Home Buyers and Sellers, nearly a quarter of all sales (23%) were BUBBAs. Although many of these home buyers did work directly with a builder or at a sheriff's foreclosure sale, 9% purchased directly from the home seller.

The internet is probably the most contributing factor to the growth of this buying segment. Buyers are certainly more educated--shopping on-line for as many as 6 months prior to making their house purchase. The homes are listed on the web. There are guides as to how to purchase a home. The whole process is less mysterious and seemingly simple that many self-educated buyers are foregoing working with a REALTOR®.

Are You Considering BUBBA? Before you move forward unrepresented, here are a few things to consider.

BUBBA can cost more. Buyer's representation does NOT cost anything. But being represented can save thousands. When you sign a contract for buyer representation, your agent owes specific fiduciary duties to you to work in YOUR best interest. They are required to keep your information confidential. A REALTOR® does this as a profession, not once every 10 years like most buyers. They are experienced in negotiating a deal on a home that is in your best interest.
So how does a buyer's agent get paid? Every home listed in the MLS states a commission agreed upon by the seller with his agent to be paid to the buyer's agent of the particular home. Yes, the seller pays the fee for you to your agent.

But this does raise the question, "If I buy directly from the seller and he doesn't pay a commission, won't I get a better price?"

Probably not. Think about it this way, the seller set the price in the first place. If he is not working with an agent, how can you be certain that you received a good price on the home? And why would a seller, who doesn't know you, give you the savings he intended to pocket by not hiring an agent.

In this buyer's market, with so many different homes to choose from, it is easy to be overwhelmed in the purchasing process. So you just wander into a FSBO open house and the seller has an amazing charismatic personality. He is very slick and used a three year old refinancing appraisal to set his price. Is it a good deal?--Probably not.

Buying a home is not as simple as walking into a discount store for a new computer...And that process can be overwhelming. There are details to a purchase that many home buyers just don't anticipate. How old is the roof? When can we take possession after closing? Is the septic system in compliance with current state and local statues or does it require replacement? Are there encroachments, like a neighboring fence or driveway sharing issues? Are there assessments pending and who will pay for them?

All of these are situations an experienced Realtor will try to anticipate and resolve in writing as the transaction moves toward the closing.

Some people are accidental BUBBAS. They start out in a "learning" stage...That time period of six months to years where they are "dreaming" of a new home but don't want to commit to a REALTOR® or be pressured into a contract. They wander into an open house and it "is" their dream home. Since they didn't have an agent when they first came in, they feel uncomfortable informing the seller that they want representation and just move forward without one.

As a REALTOR®, I try to coach potential clients into developing a relationship with an agent early in the process. If you want to see a home, contact that agent and sign a contract for a specific house. That way your interests would be represented, if the house is perfect for your family. But you would not be locked into a 6 month contract, if you are not ready to make a decision.
Before becoming part of this growing trend in home purchasing, do research and carefully consider your options. You may be giving up more than you think to when making the one of the most important financial decisions of your life.


****************************************************************************************************************

Don't be a BUBBA! 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. 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 2008 terieckholm.com

It’s Springtime! Our Sunglasses are on! We have a Full Tank of Gas! Let’s Go House Shopping!

It’s almost springtime and you are getting that bug. You know that little feeling that tells you that this is the year to buy a new home.

Interest rates are low. There is a great selection of new and existing homes. And frankly, you are just tired of renting!

So how do you go about finding a home? Most people start on the internet. If you are reading this, it is a good bet that you started with an online search. But after spending days, weeks and months online, now its time to venture outdoors and see some houses.

So on a perfect winter Sunday, you start driving by some of the properties that were presented so beautifully on the computer screen. You see the real estate signs and the open house arrows, you drive slowly up to the home but the car won't stop. You are frozen with questions.

What will you say to the agent in the home?

What do you do?

Relax. You are not alone. Many first time home buyers panic outside of an open house because the are unsure of what will be expected of them after they walk through the door. Heck, some aren’t sure before they step over the threshold whether or not to ring the doorbell or just walk in. So you are in very good company.

Here’s a few quick tips for getting the most out of attending real estate open houses.

1. Get out of the car! Sounds so simple but you can tell more about the home from the inside of the house than the inside of your car.


2. Walk right in! If you feel self conscious, ring the doorbell for fun first. That way you can be certain it works.


3. If the agent doesn’t say “Hello”, say it first. Let them know you are just checking out the place.


4. Take a look around. Check out every room, closets, basements, attics and ask the agent questions about the home.


5. While you are checking out the house, check out the agent. Size up the person to see if he or she is someone that you would want to represent you in the purchase of your home.
   

Here’s the thing, the first home you visit may or may not be the perfect home for you. Heck, probably not even the second or third one will have that "IT" factor for you.

But stopping in open houses gives you a unique opportunity to size up Realtors to see if there is one that you would want to work with. If you take a Sunday and go to 6-7 open houses, you will meet 6-7 different agents. Some you will like; some you will hate; and one you will downright love to work with.

When you connect with one, sign that buyers’ representation agreement, visit with a loan officer for pre-approval for a loan, and then have them show you everything home on your short list. Not all home owners allow open houses. Working with one agent will save you time and frustration and allow you to see all of the homes you have on your short list in one day.

So what are you waiting for? Get in the car and get out there. Your perfect home and Realtor awaits!

************************************************************

Looking for a great open house for this Sunday in the Twin Cities North Metro?

Open House 20685 Georgia Ave Forest Lake, Sunday February 17 from 1-3 PM

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. 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 2008 Teri Eckholm http://www.terieckholm.com/

Hello Hollywood? I ‘m Ready for the Screen Test when you cast a Real Realtor ®!

Writers for the silver screen L-O-V-E real estate agents…How could they not? Real estate agents have flexible schedules, make tons of money, and are down right funny! We drive fancy cars and have radar to find new business across a crowded room. Every audience member knows a Realtor® and there are few who will step up to defend the industry.

Well Hollywood, today is the day that I am standing up to offer my services for your next big production when you need a real Realtor ® for a role.

Take One—Cut! Cut! Sorry, I can’t drive up in a Lexus. No. Not every agent is making the dollars to afford to drive a status car, wear an Italian suit and carry a Blackberry. I know. I know the real-estate-agent-mom in Disturbia had all of those cool toys but the average real Realtor ® cannot afford them all.

Take Two—Cut! Cut! No I can’t leave home at the drop of a hat to be a super hero. I have a listing appointment at 10 a.m. in Ham Lake, MN and the seller wants the information in the MLS today. And from 4-7 p.m., I will be showing homes all over Anoka County to my first time buyers who cannot be rescheduled. I realize that the parents in Sky High were able to drop all of their business on an assistant and save the world but a real Realtor ® wouldn’t have a business if the assistant did it all.

Take Three—Cut! Cut! Sorry, guys! A Realtor® does do many things to help a client but I am not cleaning anyone’s home prior to an open house in a slip, suit or coverall. I realize the female lead in American Beauty came to her listing armed with flags, signs and cleaning supplies to get ready for the open house. But, a real Realtor ®’s job is to professionally sell the house, not clean it. Call a Merrymaid for that job please.

Take Four—Cut! Cut! Again I have to apologize but although I would be happy to stop at a restaurant or bar to celebrate a closing with a new buyer, most buyers would rather head to their new home and start unpacking. I know Eddie Murphy was able to pick up a great new client while toasting his success in The Haunted Mansion. But a real Realtor ® wouldn’t be so callous as to blow off a celebration with one client to start a conversation with the next.

Take Five—Cut! Cut! Wait a second! No agent is going to sell a home and be the code inspector and midwife to boot! I realize it was a funny scenario in Are We Done Yet? But no one really believed that the guy from Scrubs was a real Realtor ®. As a Realtor®, you have fiduciary duties to your client. Reasonable care and disclosure cannot be overlooked for the sake of comedy.

OK! Okay, let’s save sometime here…No, I don’t pick through garbage dumps to find object d’art to stage a home like Peggy Hill, wife and mother on King of the Hill. Find a professional stager to do the job right!

Remember that Desperate Housewife that used homes on the market for romantic rendezvous’? That does NOT happen!

And though there are many agents, like Eve Adams in Evan Almighty, who will want a family to pose with the “SOLD” sign, they won’t push the children out of the way for the visibility of their name, face or logo…Come heck or high water!

Here is what a Real Professional Realtor ® will provide to a client:

• Realtors pledge to protect and promote the interests of their client.



• Realtors do not mislead on property value.



• Realtors preserve the confidential information of their clients.



• 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.

I list houses for sale. I help people find homes. I write contracts. I negotiate. I market and sell homes. I show houses. Period.
What?? You say that is BORING! Being a Professional Realtor® is boring?
So why do you continue to characterize our profession in these crazy roles?
Let’s make a movie or television show portraying what Realtors® really do and who we really are!
Hello, Hollywood? Hello? Hmmm…Seems they hung up.
Oh, I get it: Don’t call us…we’ll call you!
***************
If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.
Copyright 2007 Teri Eckholm 

How to Choo-Choose a Realtor and Avoid a Train Wreck!

As a successful Realtor working throughout Anoka County, Minnesota, I sit through many closings while clients sign documents selling their family homestead, buying their first home, and investing in that big deal. Though dual agency is an option in Minnesota, most buyers and sellers have individual representation. Therefore at the closing table the group assembled is eclectic. The buyers, their agent and closer are joined with the sellers, their agent and closer. Every once in a while, there is a loan officer or lawyer thrown in for fun!

Usually this is an exciting time! The buyers are ecstatic to be moving into their new home. The sellers are often ready to move on to their next adventure whether down the block or out-of-state. And the closers are happy once again to have completed and closed the file.

On occasion, the closing can be a very tense place. As agents we can anticipate some of the tension. If the buyers and sellers negotiation was particularly stressful, sellers can presign their documents and collect their check at a different time. Or there can be two rooms for the closing down the hall from each other.

Stress cannot be avoided if the other party in the transaction is upset with their agent. In these situations, while extremely rare, the closing can be a train wreck as it is the clients’ last opportunity to have their say prior to signing the documents. Usually the agent will arrive late to the closing, just in time to pick up his or her check. During this time, the client will make barely audible comments that hint of the stress of the situation. Though most closings go through, there is a moment or two where everyone in the room holds their breath in anticipation of what could happen.

I often wonder what research this person do to find their agent. Did they do any research at all? Did they select a top selling agent? Did they look at credentials? I think most clients DO all of these things but still end up in a personality clash with their agent.

Most of the lists of how to select an agent that I have seen omit the most important steps for a client…How to assess their own personality prior to agent interviewing and selection. Ask yourself what do you expect from an agent? As a client, you must examine what you want and need from an agent prior to signing that representation agreement to avoid the train wreck!Here are Six Questions to Ask Yourself:
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.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.Do you prefer to use email or the phone as your main source of information?
Some Realtors are very computer savvy and will answer an email within the hour. Others answer emails once a week or less. 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.

Are you into gadgets?

If you are listening to your Zune while you surf the net on your wireless laptop, 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 an make notes on, a Realtor with more a more traditional style might be what you need.

Do you have expensive tastes and exclusive brands? Or are you more conservative?

If you like the finer things in life, you might prefer a Realtor who drives a BMW and signs your contract with a Mont Blanc pen. If you are more conservative, a Realtor in a Ford F250 that uses personalized ballpoints might be more your style.

So what is next? Read my posts:

Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part One of Two)

Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part Two of Two) .

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.


Copyright 2007 terieckholm.com

How to Choose a Realtor—Why a Good Friend is Not Always a Good Option

Yesterday, I was on the phone with a client. This family was referred to me by past clients that I had met at an open house. I have worked the family for several years now and while I now consider them friends, I was their Realtor first.
While chatting about other things, my client mentioned her son and his wife had just signed an agreement on their first home. I didn’t have a second to feel disappointed as she immediately said that they had really encouraged him to work with me. But they chose to work with the wife’s father’s good friend instead. Dad’s friend was a long time family friend from church and they just couldn’t say no. She also added that they now questioned the wisdom of their decision.
My clients accompanied the young couple on a final visit to the two homes they were considering. Now I have taken my clients to several properties throughout Anoka and Chisago counties looking for a hobby farm that they will be proud to call their home. When we look at a house, I know that they are thinking about which kid gets which room and if the land is suitable for horses. I consider it an important part of my job to be the look out for the houses’ potential problems that they can discuss with an inspector about like the roof, foundation, window sills and ceilings for indications of water damage, signs of pest infestation etc. Though I am not an inspector, there are things real estate agents should be aware of and look out for to avoid problems for their clients.

My client said she could not believe her son’s agent. He just stood back, said nothing and let the young couple walk with their parents and grandparents around the house. Even when inquiries were made, he offered no assistance. She went on to say that of the two homes: one all ready done and move-in ready and one requiring an abundance of work, the couple chose the latter. And this low-key agent advised his clients to offer Full Price as the only way to get the home.

What? Did I hear that right? Full-price in a buyer’s market? This is where the mom had to offer advice to her son on his first home purchase. Advice he was not getting from his agent. No one offers full price in this market. The son and daughter-in-law did offer less and their agreement was accepted. Through the purchase agreement process they realized maybe this agent wasn’t their best choice. Maybe he was new and didn’t know the paperwork. Maybe he was one of the many agents who work one or two deals a year and isn’t aware of how negotiations change in a buyers market. Maybe he just isn’t experienced enough to provide adequate advice. Maybe he doesn’t like the negotiation process.

I did a little research and this particular agent was not in a dual agency. Had he been a dual agent, he could not advise on terms, such as price, as being under contract with both clients, an agent cannot do anything to harm either. But I also discovered this family friend works on the other side of town from where this young couple wanted to live. It is hard to show homes and advise on an area when the agent is unfamiliar with it.
With over 30,000 licensed agents in the state of Minnesota, everyone knows a real estate agent. Some of these people have had their licenses for years but only dust them off once a year to “help” out a friend. Others are good people who have left other professions but were too young to retire and decided to give real estate a go. Many agents look to supplement the income from their full time job with a sale here and there. If you are considering hiring a good friend who fits into one of these categories, think long and hard before you do.

A home is the biggest and most important investment most people will make in their lifetime. You owe it to yourself to have the BEST representation in this transaction. Take the time to interview several people before signing a buyers’ representation agreement, not just your trusted friend. If the home buying process does not go well, it could not only cost you money, it could cost you a friendship.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 terieckholm.com

How to Choose a Realtor—Don't Focus on Fee!

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 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 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.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call. Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.


Copyright 2007 terieckholm.com

Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part One of Two)

The Twin Cities Fox News affiliate’s investigative team recently ran a new segment on mortgage and real estate fraud. A man was allegedly bilked out of nearly half a million dollars by a loan officer and real estate agent he met in a bar! The story is not a new one but what struck me was the “in a bar” statement. How many people are selecting their advisor on real estate over a beer in the local tavern? Let’s think about this a minute. One of the biggest, most important investments in a person’s life and they rely on an acquaintance in a bar? I hope they at least ordered some appetizers before they signed the contracts!

The average American will buy or sell a home 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 dwelling 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 emotions are running high.

As a Realtor in Minnesota, I love assisting people to find the perfect home. My clients come from the referrals of past clients as well as open houses and other marketing avenues. When I meet a potential client, I expect questions about myself and my business. I answer additional questions about the Twin Cities metro real estate market and specifics about homes available. Not all of these potential clients ask relevant questions. They can already be caught up in the emotional buying process or 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 will give you specific questions you can ask of potential agents so that you can make a good decision.

Step ONE
Ask YOURSELF these six questions?
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.

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.

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

Some Realtors are very computer savvy and will answer an email within the hour. Others answer emails once a week or less. 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.

Are you into gadgets?

If you are listening to your Zune while you surf the net on your wireless laptop, 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.

Do you have expensive tastes and exclusive brands? Or are you more conservative?

If you like the finer things in life, you might prefer a Realtor who drives a BMW and signs your contract with a Mont Blanc pen. If you are more conservative, a Realtor in a Ford F250 that uses personalized ballpoints might be more your style.

Step TWO
Research

Now that you have answered these questions, you have a bit of an idea as to what you are looking for. Armed with this information, it is time for the second step. Research websites of potential agents BEFORE you meet them. Read their profiles and 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. Also, check independent local sources like the Mpls/St Paul Magazine’s listing of Super Agents.

Now you are ready to interview the potential agents. Get some great questions ready so that you can find the best Realtor for you. Having trouble coming up with great questions? Real Estate Agent Selection Primer—How to Choose the BEST Realtor for YOU! (Part Two of Two) will give you some advice.