Archive for the ‘business of real estate’ Category
Wayback Wednesday… Why the Hurry?
- Image via Wikipedia
This hasn’t changed… unless it has become MORE important.
Looking through listings is kind of like wading through a sea of REOs (bank owned properties) and short sales (properties on their way to becoming bank owned, barring a miracle). And one thing uniting these listings is that they are generally marketed VERY weakly. Scant pictures, minimal descriptions and even non-existent directions to the home.
So, when a property comes on the market that is well photographed, marketed and with a well written description, it stands out.
Two years ago I wrote about agents rushing to get listings onto the market… before things like photographs could even be sorted out. Then and now, buyers reject properties without photos. Seldom do they come back to see if the listing has photos updated on it… unless they have moved past everything else on the market.
Here is the original post…
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- Wayback Wednesday… Don’t Hide in the Sand… (lanebailey.com)
- Wayback Wednesday… Don’t be Dumb Like a Bank (lanebailey.com)
- Wayback Wednesday… SPICY! (lanebailey.com)
- Wayback Wednesday… Add on or Get out? (lanebailey.com)
- Wayback Wednesday… The Dirty Little Secret… (lanebailey.com)
View CommentsWayback Wednesday… SPICY!
A couple of years ago I wrote a post about blandness. I don’t like bland and I think most people agree that bland is… boring. It applies to food, advertising, movies, art and anything else. Maybe everyone won’t like the spice, but almost nobody will like a complete lack of spice. But, I guess there are just a few people out there that really like boring.
The story is about a grandmother ‘protecting’ her grandson from something she thought was too spicy for his young palate. Of course, I applied it to real estate advertising… and even tossed in one of my favorite spicy commercials…
View CommentsWayback Wednesday… Don’t be Dumb Like a Bank
- Image via Wikipedia
A couple of years ago I wrote a post about a particular property. It was a foreclosure, and the bank acted stupidly. And I’m not saying that lightly. Had they accepted my client’s offer, they would have sold the property a year earlier and for $40k more than they eventually got.
Now I see a lot of people making the same mistake from the other side of the fence…
I see buyers trying to deliver one last beating to the bank… often during the inspection phase… and losing a great deal over things that are trivial. I understand it. That doesn’t make it any better…
I had one client that was angry that the bank accepted his offer. He thought they would counter. I had warned him that they might accept of reject, but not counter. Some of the banks have a number. If you offer $1 over the number, they accept. If you offer $1 below, they reject. During the inspection period, this client made a LOT of demands. The bank rejected. No counter… no discussion.
Don’t make the same mistake the banks were making.
View CommentsFlashback Friday… Get Out of Your Mortgage for FREE?
- Image by cobalt123 via Flickr
Don’t expect it to actually happen… I wrote about this phenomena a year ago, and there are still lots of practitioners claiming it can be done. They all say that they have done it, but I have been able to find no verified cases where the mortgage was set aside by one of these operations… Delayed, perhaps… but not set aside.
The bottom line is that it could happen… could. BUT, it is WAY more likely that you will spend thousands of dollars on legal fees, and be strung along for months and months… or even years, and then end up in worse straights than when you started.
The line sounds great, and to a non-legally trained mind like mine, it seems logical. But, my industry friends tell me that it just isn’t realistic in the real world.
View CommentsWayback Wednesday… The Dirty Little Secret…
- Image by marcmo via Flickr
Here is a post that actually goes back three years, but I posted it two years ago on this blog. It is about the ‘Dirty Little Secret’ that the folks offering to list your house for $999 (or whatever) don’t want you to know. Yep, they have a business plan, and there is an integral part of it that they will NOT tell you about. If you ask them about it directly, they will hem and haw… but it is pretty doubtful that they will come right out and tell you…
I’m NOT telling you that one of those services can’t be a great option, but only if you know the secret, and go into it with your eyes wide open. In fact, I offer a similar services… but I add something that they don’t. It doesn’t alter the basic premise, but there is a reason why my discount listing plan is different…
But you’ll have to talk with me to find out all of the details. Don’t worry, I don’t bite.
BTW, I have had a lot of discussions with discounters and they don’t like that I have said this out loud… They can’t counter it… but they are mad at me.
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