For Sellers

Do You Not Understand Its Mortgage Fraud?

August 18th, 2007 Categories: Coral Gables, Cutler Bay, For Buyers, For Sellers, Kendall, Palmetto Bay, Pinecrest, Real Estate Chatter, Southwest Dade

I like selling real estate in the Miami Redland. I’ve met some great people in my business. I’ve helped lots of folks and knowing I’ve done a good job is extremely satisfying to me.

Yesterday I didn’t like one of the people who contacted me. I was on my way to a meeting in Aventura and driving on I-95. I’m not that familiar with the area and was keeping an eye on the exits.

My phone rang and I answered, “Hello, this is Maggie!” The gentleman on the phone asked me about some homes in an area of Homestead. I told him that I didn’t have homes available specifically where he said but a little further away I have a development listed with 15 homes still available for sale and affordable.

He asked me for the prices and if there were any incentives. I answered all his questions and he said something about wanting “cash back.” I told him we were not offering cash back at closing. I went even further and told him it was mortgage fraud and illegal.

He said to let him worry about that. He asked me again for the prices. I repeated them. “What will they appraise at?” he asked me. OK, now I see he’s trying to skin the cat a different way. I know where he’s headed with this.

I tried really hard to not sound arrogant when I replied, “they will appraise at what they’re priced at. If they were to appraise higher, we would be selling them for more money.” Now this may seem like common sense, but I did understand where he was headed. He’s familiar with appraisals that come in, magically, at numbers that are inflated. These inflated appraisals are key in being able to commit mortgage fraud. I guess he thinks he knows my business better than I do.

Mr. Cash Back must have realized that my patience was wearing thin. He told me he’d call me back if he decided to look at these homes. I’m happy if he loses my phone number. The only orange I look good in is perhaps an orange scarf. An entire jumpsuit might be a bit much. Besides that, I worked hard for my license and am actually proud of it. I won’t be risking losing it anytime soon.

By the time I hung up I realized I had passed my exit by 5 miles. Dagnabit!

Spoken by Chris Hotz | Discussion: 10 Comments »

No Info Tube For You!

July 30th, 2007 Categories: For Sellers

When was the last time you went up to an info tube (or an info box) and found it actually had a property flyer in it?  OK, let’s suppose the agent or homeowner was on top of things and the tube/box was actually filled.  Did you call the number listed and ask for more information?  Hmmm, I didn’t think so.

You see, most people pick up flyers at properties just to appease their curiosity.  Most people picking up those flyers are not serious buyers.  It could be the nosy neighbor down the street wanting to know what the house is listed for.  The young family around the corner who’s thinking of selling is picking up comps in the area.  The “dreamer” who is always looking at homes they’ll buy “one day” but “one day” never comes.  Someone selling in the neighborhood wondering how this home’s features and price stack up against his. 

Info Tubes are a waste of time, money and trees!  You’ll never see an Info Tube on my properties.  It won’t do my seller any good for me to put one there.  So how do I better serve my seller’s need to get his property info out there to someone who is standing outside the house and absolutely, positively needs to know all about it right now?  I use a toll-free hotline with recorded information about the house instead.  This information is available 24/7.  It’s also free.  You won’t have to set up a pin number or give me your first born to get it.  You just call the number and listen to the information.  Pretty simple.

Even though the caller doesn’t have to provide anything to get the information, I do get something in return for the phonecall.  The caller’s phone number.  You see, the hotline is set up to pick up the phone number making the call.  Then the system sends a text message to my cell letting me know the number and the house they’re calling about!  Smart system. 

How is this helping my seller get his house sold?  Well, now that I have the phone number, I can call the party back and weed out the “lookers” from the interested buyers.  I now have the opportunity to tell them more about the house and quite possibly set up an appointment for them to view it.  It all about getting more qualified traffic to the home.

Yes, I will still need to deal with the nosy neighbor, the young family, the “dreamer” and the other seller.  But I will also get to talk to the serious buyer who may never have seen your house because the last flyer he picked up that day was better than yours and he had already forgotten what was so pretty about yours anyway.

I won’t let him forget.

Spoken by | Discussion: 9 Comments »

What Does A REALTOR® Do, Anyway?

June 7th, 2007 Categories: For Buyers, For Sellers

Yesterday I was asked by someone if I sold houses. I replied, “Yes. I am a REALTOR®” “Oh, so you do mortgages and stuff?” “No, I am not a mortgage broker. I prefer to wear one hat only and do it really well.” “So then what does a REALTOR® do?” I was surprised to hear the question, as it seems the whole world knows what REALTORS® do: we make obscene amounts of money for selling houses (that is sarcasm people. Don’t call me on it). I started to provide an answer when we were interrupted. So, Alexandra, if you’re reading, this is what a REALTOR® does: For buyers:

• Educates her buyers about the home buying process and what it entails.
• Makes sure the buyer’s financing is in place before he starts looking so he stays within his price range and is ready to rock and roll when the right home is found.
• Scours the MLS database (where all the homes being sold by real estate agents are) for the right match for her buyers.
• Sets up appointments and sees homes with her buyers.
• Once the right home is found, makes sure you don’t offer more than it is worth.
• Structures an offer that is beneficial to you, yet attractive to the seller and his REALTOR®.
• Negotiates on your behalf should the offer not be accepted as is.
• Refers you to competent individuals who can provide financing, title work, legal representation, home inspections, appraisal services, homeowners insurance, and more.
• Makes sure the deal is moving along the way it should. If a deadline on the contract is looming, your REALTOR® is on top of it!
• If a wrench gets thrown into the works, as it often will in this very detailed process of buying a home, your REALTOR® will be there to try and straighten things out with the experience necessary to do so.
• Although not required to do so, most REALTORS® will attend the closing with you, where they can explain things you may not understand about the closing process.
• Adheres to a strict Code of Ethics while engaging in every part of this business.
• 99% of the time, the buyer pays absolutely nothing for the above services!

For sellers a REALTOR® serves equally well:

• Will enter into a listing contract to sell your house.
• Will do a thorough evaluation to determine the correct price to sell the house for.
• Will place the house, it’s features and pictures into the MLS database.
• Will market the house in various ways to gain maximum exposure (the extent of this varies by individual so ask for specifics!) A lot of the ways utilized are not available to the general public and can be quite costly if available. Again, ask for specifics about the marketing plan.
• The bottom line is a REALTOR® will look for a buyer for your house.
• Once a buyer is found, negotiates on your behalf so you don’t sell the house for less than it is worth.
• The work continues after a buyer is found. As with buyers, makes sure the deal is moving along and tries to fix things if it’s not. This is where many pitfalls can be avoided by using the services of a REALTOR®.
• Again, adheres to a strict Code of Ethics.
• Gets paid the agreed upon commission ONLY when the deal closes. That’s right. Up until closing the REALTOR® has been working for free basically, under a promise to be paid only when the deal closes.

The lists above are not meant to be all inclusive, but they cover the highlights. Interview several REALTORS® when you’re ready to use the services of one. And if you’re looking in the Miami, Redlands and Homestead areas, by all means call me as well. I’m a REALTOR® and proud of it.

Spoken by | Discussion: No Comments »

Dear John…A Letter To South Florida Sellers

June 7th, 2007 Categories: For Sellers

Dear John, Please don’t hate me for what I’m about to say.  I’m sorry to have to tell you this. 

But…..I’m leaving you. Please don’t be hurt. 

Let me explain.

While you were trying to get more for your house than it is worth, I met someone else. 

His name is Appropriately.  Appropriately is thoughtful and listens when I make price suggestions.  Appropriately is kind and understands that I have his best interest at heart.  Dare I say that Appropriately is also sweet on me….he really likes me!  He values my opinion. 

 I could tell by the way he didn’t argue when I suggested we list his home right below the lowest ones in the subdivision. 

Appropriately doesn’t suffer from delusions of grandeur and throw his faux cherrywood cabinets and granite countertops in my face. He would never do that.  He knows there are others out there offering the same or better.

I guess you could say Appropriately and I have the same goal right now….to get his house sold.

Don’t despair.  You’ll be better off without me.  Somewhere out there is an agent just for you.  Someone who will whisper those sweet nothings you long to hear…”you’re the best on the block.  We can get an extra $50,000 for you easy.” 

The two of you will have plenty of time to get to know each other as you wait for the first showing appointment.  I’m sorry that it wasn’t me. 

But we’ll always have our memories.

Signed, No longer your agent   Next!!    

Disclaimer – lest you think I’m full of myself take a look at these numbers.  They represent the Miami-Dade and Broward market right now, as of 4:03 AM 5/31/07 numbers from the SEF MLS:

I won’t bore you with the fact that this is how we real estate folk figure out the Absorption Rate.  Suffice it to say that there are 77,622 homes for sale right now in our 2 counties and there were only 2,367 closings last month.  That tells me it’s going to be a long time before everything gets sold (2 years, 8 months, 3 weeks and 1 day if you want to get technical).  Tell me again how pretty those cabinets of yours are…..

Spoken by | Discussion: No Comments »

I’ll Sell Your Home in 60 Days or Pay you $500!*

June 7th, 2007 Categories: For Sellers

If you’ve been trying to sell your home I’m sure my claim caught your attention, no? After all, the way the market is, any claim to sell a home in 60 days has got to be good, especially backed up with a guaranteed $500 payment if I can’t deliver, right? WRONG!!

*First of all, let me clarify that I do not offer the above to my clients. I put it up there to get your attention and explain how it’s possible that some real estate agents do make that offer.

It’s pretty simple. There is fine print to anything that sounds too good to be true. Here’s the fine print in larger type so you can read it:

• An agent comes to you with the above claim.
• You speak to your significant other about it and say “look honey, they gotta be on the up-and-up, they’re offering to pay if they don’t sell it in 60 days. Let’s give it a try!”
• You sign a listing agreement.
• Your home goes on the market.
• It may sell sell in 60 days. Heck it may sell in 3 if it’s priced right.
• If it doesn’t sell in 60 days you now wonder why it hasn’t. After all, the agent promised!
• You ask the agent for your $500 since the house hasn’t sold in 60 days.
• The agent says “yes, you’ll get it at closing when the house does sell.”
• You reply “WHAT?!!“
• The agent tells you that it was in the fine print. Ah yes, the fine print. The print you didn’t ask to read because they hooked you with their incredible promise.

You see, this agent isn’t guaranteeing anything other than a $500 pay-back to you from the $10,500 commission you’re going to pay him at closing. Isn’t that thoughtful of him?! He is just throwing this claim out there to get you to list with him. He can’t promise to sell your house in 60 days any more than I can. He can’t even promise to sell your house at all. None of us can. Oh wait, I’m having a problem with the terminology because I actually keep my promises. So, yes, they can promise you anything. But can they keep their promises? Those are promises that cannot be kept.

What gets me is that they’re not lying. They’re just not being upfront about all of it and they do grab some clients this way. It’s sneaky. It’s wrong.

So there you have it. The truth behind the incredible guarantee.

I won’t promise to sell your house in 60 days. I will promise that I will market your Miami house to the best of my abilities, and I’m pretty capable. I also promise that I’ll be in touch throughout the whole process. I won’t disappear on you. If you like to hear the truth so you can make informed decisions, you can read more of what I’m about at http://www.maggiesellsmiami.com/ You can also read my real estate blog at Active Rain. I don’t make promises I can’t keep. I just deliver!

Spoken by | Discussion: No Comments »

Learning More About The Historic Redland, Homestead And SW Miami Areas

May 14th, 2007 Categories: For Buyers, For Sellers

I’ve been blogging on ActiveRain for a while now and love it. It is obvious to me that today’s savvy real estate consumer has tons of information available on the internet. A blog helps to bring our local area to you, so you can learn more about it. I sincerely wish you will return here time and again to learn more about our great communities. As a local realtor and resident, I am sure I can give you a view of our communities that only those most familiar with them can provide.

I not only work in the Southwest area of Miami known as the Redlands, I also live here. It is a beautiful area where homes sit on acre homesites and neighbors are oftentimes nurseries as often as “real people.” It is not unusual to see folks riding horses to the local stores or waiting patiently behind a tractor hauling a nursery’s latest crop of flowering plants across the street to be shipped off to numerous places throughout the States.

Please return to visit and learn more about the Redlands!

Spoken by Jason Benesch | Discussion: No Comments »

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