It’s not always about the price.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Helped my Seller negotiate a deal for his house yesterday. We had multiple offers. I love it when that happens. The Seller ended up accepting the LOWEST offer. After discussing the three offers, that were presented, we decided that the one with a 20% down payment and a pre-approval letter direct from a National lender, had the best chance of closing. The other two offers, even though about $5,000 higher, were both with 100% financing, and were first time home buyers.

This just shows that price is not always the deciding factor for a Seller. It can be the probability of the transaction closing, as in this case. I've also had Sellers take deals because they met and liked the Buyers. One Seller practically gave his house away because he met the Buyers. The Buyers were a young married couple expecting a baby and had never owned a house before. The Sellers were elderly, didn't need the money, and sold them the house for about $30,000 less than market. And they had other offers to consider! Didn't matter, they wanted this young couple to have their house.

It can be something as simple as an offer written professionally versus a sloppy offer with incomplete information. You just don't know what will motivate the Seller.

It's just another reason why, as Realtors, we need to make sure our offers are presented in a professional manner. Complete the offer properly. Attach a personal letter from the Buyers, if they really love the house, let the Sellers know that. Sellers can be very attached to their homes. Especially if they are older and have raised their family in it. Your Buyer's sincere personal comments in a letter, with their offer, could save them thousands, or beat out another offer.

So put some thought into your Buyer's purchase offer. Don't just slap it together and think the Seller will accept it because the price is right. Remember…….. It's not always about the price.

Short Sale Lenders are Seizing Bank Accounts!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

www.shortsalesuperstars.comDid you know that? I didn’t. Until I read this article by Sally K. & David L. Hanson.

This is pretty serious stuff. If you are working with Short Sales please be sure to notify your Sellers and give them this information. I am not an Attorney nor do I play one on TV so I do not know the legalities of this. I do know though, that if it were me, I’d much rather avoid the issue all together and pull my money out of the bank that I have my delinquent mortgage with. Better safe than sorry.

If you read the comments to Sally and David’s post you will see that this IS happening. And it’s happening all over.

And of course….Bank of America is one of the culprits.

Be a Short Sale Superstar to your Sellers and make them aware of this situation today. OK?

 

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

 

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

Clean it up and sell it!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Took a listing a couple of weeks ago. Seller is an out of area Investor who had bought a new home to flip for a profit. Fortunately he bought right and this can be achieved. Contacted me off an expired listing mailing. He had been on the market for about 9 months with no offers. I pulled up his details in the MLS and it looked like the house was priced right at $205,000. So I told him I would go out and have a look to see why it hadn’t sold.

When I pulled up to the property I was shocked! The lawn was a good 4 feet long and full of weeds, the Real Estate sign was laying on the ground with the post still standing albeit a little crooked. I used the current Realtor's lock box and tried to place the key in the front door after several attempts I was finally able to jiggle it to get it in. Opened the door and I was overwhelmed with dead cock roaches, spiders, crickets and other critters I was not able to identify. And the smell!!! Well let's not go there but we know how Realtors treat toilets sometimes. The vinyl flooring was covered in scruff marks from all the Realtors and Buyers who had obviously been looking at the property. This was evidenced by the stack of 40 to 50 business cards displayed all over the kitchen counter. This new never before lived in home was totally disgusting. Of course the marketing remarks in the MLS said “brand new home in excellent condition ready for new owner”.

Well I gave the Owner a quick call and told him the condition and said I would list the property and that I was going to arrange a professional cleaning crew and lawn service ASAP. I will pay the bill and he can reimburse me at closing. It cost a total of $275.00 to have his property spit shined, carpets cleaned and set up on monthly lawn service. I had his house back on the market within 48 hours looking like a brand new house and “Range Priced” from $195,000 to $215,000 with a 4% Co-broke. Needless to say Realtors and Buyers are now knocking the doors down to see this house and we have already had offers. Unfortunately they were not from “truly” qualified Buyers but that will have to be another post.

Again it’s another case of a Realtor taking a listing and then just abandoning it. The Seller was completely agreeable to whatever needed to be done to get his house sold but was never advised by his Realtor or heard from him for that matter. As professional Realtors we must provide honest straight forward advice to our customers and clients. To do anything less is unethical. So be proactive. Clean it up and sell it! 

Opinions appreciated on this real time CMA.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

OK, this is an actual CMA and E-mail sent to an absentee owner. What do you think? I use a pretty basic CMA format from our MLS. Nothing fancy but it seems to work. The information is current as of this afternoon so it will also give you an idea of market conditions in Poinciana Fl. I'll trust you not to contact my Seller. If you do tell him I said Hi. 🙂 By the way, if you are newer to the business, please feel free to copy the format if it will help.

Following is the Market Analysis I have prepared for your house at XXX XXXX Ct. A few comments: The analysis includes 3 bedroom homes due to the fact there are only 2 other 2 bedroom pool homes on the market in Polk County Poinciana. One priced at $173,900 and one priced at $179,000. There are eleven 2 bedroom homes on the market with or without pools from a low of $159,900 to a high of $179,900. There have been eleven 2 bedroom homes that have sold this year with or without pools from a low of $125,000 to  a high of $179,000. The suggested pricing is based on price per sq ft living area and is basd on the highest sold price per sq ft. In my opinion the suggested price is maxed out. But we can discuss that when we talk.

Your home is in pretty good condion. I would recommend, painting the front door, replacing or removing the verticle blinds in both bedrooms, replacing the light fixture in living room, replacing the socket covers that were removed and clean, clean clean. Next to pricing, cleanliness is the most important. The pool surface is bad but no action required on your part.

Overall it is a very sellable house. Nice open floor plan. Great front yard. The back yard is kind of small but nothing you can do about that. Same with the 1 car garage. It is what it is.

All of these things have been taken into consideration in my pricing. I highly recommend the "Range Pricing". This will enable me to place the home into the MLS at the lower price, but still having the ability to negotiate to the middle of the suggested range.  My whole goal is to get them in the door. If they don't see it they can't buy it. Also, I think it is imperative that we offer the selling agent a x% co-broke. Obviously, if I find the buyer I will not charge you the co-broke. To be honest, that doesn't happen much, but it may.

The previous pricing of $209,000 was a waste of your time. There are 1,400 properties for sell in Poinciana, not counting FSBOs, as of this morning. You have a lot of competition. There are 235 homes under $200,000. So needless to say pricing is extremely important. Ok, that's all for me rambling. Please review all the info and let me know when I can get started. I did a complete photo shoot and measured while I was there today. So if you are agreeable I can have you up and running within 1 hour.  Call me with any questions or suggestions.

Please visit a personal page I've set up for you that contains a link to a Comparative Market Analysis report.

http://bryanttutas.mfr.mlxchange.com/?r=111496147&c=2&id=32373632313339.366

FSBOs are cheap and certified idiots!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Broker Bryant www.CentralFloridaShortSales.com

Hi folks. I was browsing through some of my older posts today and found this little ditty about FSBOs (For Sell By Owners). To fully appreciate this post you really have to pop over and read the comment stream on Jeff’s post. YOWSER!!! 

Jeff Turner posted “For Sale By Owner: Raise the price then call a REALTOR®” a couple of years ago. Jeff’s post was basically reposting a question that a FSBO had placed on Twitter. The question was: “Got a buyer for my condo. They want me to hold the mortgage. Any advice?”

Jeff’s post was not only a Public post but it was also a Featured post. It received over 70 comments. The comments, from REALTORS® included statements such as:

  • * ……this guy is seeking free advice? After he doesn’t want to compensate a professional?
  • Never ceases to amaze me how people with little to no experience buying or selling houses seem to “wing it.
  • My advice to the seller’s, don’t reinvent the wheel, always deal with professionals.
  • …..just another example of an ignorant homeowner who thought they were doing themselves a favor and “saving” money.
  • This guy is a certified idiot.

Now, in all fairness, there were some pretty decent responses, as well, but in my opinion, the majority of the comments were just reprimanding this guy for not wanting to use a “professional”. Folks, if you think those PUBLIC comments make you look like professionals then you are sadly mistaken. Whether this FSBO made a good choice, or not, he was really just asking for some advice. If you don’t want to give him any….then don’t.

But make no mistake about it….him choosing to “go it alone” does not make him an idiot! One commenter summed it up nicely with this comment: “All sellers have four choices, don’t sell it, sell it yourself, list with any old Realtor, or hire an experienced one.” The key word of course being CHOICES. It’s the Seller’s choice…not ours.

If you want to try and win their business then have it…but demeaning their decision to “go it alone” will only accomplish making yourself look foolish. Not to mention the damage it does to our profession’s reputation. What say you?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

 

I hate open houses and I’m sticking to it!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

I hate open houses! There I said it. It's out in the open and I'm not taking it back. I don't do them and I'm not starting. My Sellers know this. I tell them this at time of listing. "I will sell your house but I will not do an open house, ever."

Well, I had two of my Sellers call me today wanting to do open houses. So being the good little Realtor that I am, I said no. Now don't get me wrong, I like pleasing my Sellers and I like being agreeable when they ask me to do things. But I'm not doing it! I'm going fishing. It's Saturday and the fish are biting. So what do you do?

Being as how both of these Sellers are long time customers, we compromised. They are having open houses. Yup, you heard me right. They are having open houses. One is having a yard sale and the other is home all weekend and wants to do it. So, I stopped by today and dropped off Open House signs, buyer sign in sheets and wished them good luck. I told them if they should happen to find a Buyer for their house, who is not working with another Realtor, I will give them a discount on the commission. They were thrilled! They can use the money and thought this was an excellent idea. They are really getting into it now. I told them I would be available by cell phone if they need me and I have arranged for my Mortgage Broker to be available for pre-qualifications if necessary. I hope they find a Buyer. I hope I can give them a commission rebate. I hope they don't ever ask me again. I hope I catch the big one!

Anyway, I have been thinking about this all day and decided I may offer this to my Sellers. After all, we are a team and who knows the house better than the Seller. Obviously, you do want to make sure you have a strong relationship with your Seller and they have to promise, no negotiating. I like it. I like it a lot. They can work. I can fish. And maybe we will both get paid.

So next time a Seller ask for an open house, just tell them…….. "I hate open houses and I'm sticking to it!

Breaking News!!! Approximately 93% of Homeowners are just fine!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

That’s right. By far, the overwhelming majority of Homeowners in this country are NOT losing their homes. They either own their properties free and clear or are making their payments on time.

It’s hard for us to see this because we are in the business. If you are like me you live and breathe Real Estate. We talk to people all day long who are struggling and it’s very easy for us to forget that most Homeowners are living in and enjoying their homes.

I’ve mentioned many times over the last couple of years how more than 85% of the real estate closings in Poinciana Florida are distressed sales. But what I don’t mention is that there were only 1,654 sales for 2009 out of 20,700 properties. About 8%. So 92% of the folks in Poinciana stayed put. That’s right in line with the National average.

From what I could find online there are approximately ****129,400,000 homes in the US. Depending on where you look only 7-10 mil of these are in some stage of default. That’s roughly 7%.

Approximately 93% of the Homeowners in this country are doing OK. That makes me feel good. How about you?

****I spent about an hour this morning pulling stats and data and there really are no numbers that agree. So for the purpose of this post I just used averages. If you want more precise figures then feel free to do your own research.

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

 

Does that 50 cents have to be on the HUD?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

I just love final walkthroughs! Why is it that Buyers and their Realtors sometimes try to spoil the elated feeling I get, knowing that we finally made it to day of closing?

I get the call this morning, telling me they did the walkthrough and everything is OK, except for the hole in the living room wall. What? A hole? How can that be? I was just in the house last week and it was fine. No holes! I don’t want to hear about holes two hours before closing. I mean the house is vacant. No one has been in the house but the appraiser. Then they spring the big one on me. “What’s the Seller going to do about it?”

Personally, I think that’s a pretty good question. “What’s the Seller going to do about it?” Well, my answer is “I don’t know”. I am still trying to digest the fact that there is hole in the living room wall. Well I got lucky, the other Realtor had a call beeping in on him and decided to take it and call me back.

So, I get myself out of bed (not sleeping mind you, but diligently “working” on reading all the ActiveRain posts from last night), anyway, I get myself out of bed, hop in my SUV and burn $10.00 worth of gas to go check out the hole in the living room wall. Now I’m a pretty observant guy and would probably notice a hole in the living room wall, but I don’t. No hole. Well, maybe they meant the family room. So I go look and again, no hole. Wait a minute, what’s that? Let me see, if I get down on my knees and squint just right I can see a tiny indentation in the wall about the size of my pinky fingernail. This my friends must be the culprit. The all elusive hole!

I call the Realtor back and tell him I have been at the house to look at the “hole” and asked him if he had actually seen it, or did he just allow the Buyers to go over by themselves to do the walkthrough? Do I need to even tell you his response? Of course he hadn’t seen it! It was too far for him drive to so he just gave the buyers the code so they could do their own walkthrough! The Buyers told him there was a hole in the wall, and asked, “What was the Seller going to do about it”. Anyway, I remained calm and politely told him to show the Buyers the definition of “hole” in the dictionary and that we would give them compensation of 50 cents. After all that, the Realtor told me to not worry about it, that he would take care of the Buyers.

I tell you, you got to love this business. The things people try to get away with. And the Realtor……….well that’s good material for another post.

The Moral is: Never, ever, take the other party’s, to a transaction, word on anything. Check, double check and check again. Look out for your own customer’s or client’s interest or that “hole” may be in your wallet.

By the way………..Does that 50 cents have to be on the HUD?

Approved FHA Short Sale in Davenport Florida. $63,000

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS
Three bedroom 2 bath home located in Davenport Florida. Royal Ridge is a gated community about 15 minutes to Disney. Less than 1 mile to I-4. 30 minutes to Orlando and about 45 minutes to Tampa. This two story house has 1276 sq ft of living area and a hard to find downstairs master suite. Fenced rear yard. Gas range and gas hot water. FHA approved Short Sale at only $63,000. Contact us today to arrange your private showing.

Only $63,000

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

Real Estate is about people, not money!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Yesterday, I did a Blog post that contained a comment about another Realtor, giving the code to my lock box to a buyer so the buyer could do his own final walkthrough. I received quite a few comments about reporting the Realtor to his Broker or filing an Ethics complaint. Let me explain, why I didn't take those steps, even though, I agree, what the Realtor did was wrong.

First, I list homes "For Sale". That's what I do. I rarely work with buyers. Therefore, my business depends on other Realtors showing and selling my listings. With that in mind, my business plan has always been to "market" my listings to other Realtors and to give them as much incentive as I can to want to show my listings. My reputation with Realtors is how I make my living. My listings get showings, because over the years, Realtors have learned that they can trust that properties will be priced right, clean and easy to show. No surprises.

The Realtor, in question, had actually done a pretty good job up to the point of giving out my lock box code. I had a discussion with him about this and it will not happen again. I complemented him on the good job he did in getting the deal closed and hope to have many more deals with him in the future. Would this had turned out this way if I reported him to his Broker or filed an Ethics complaint against him? No. Absolutely not. He would never had showed my listings again and my future Sellers would suffer because of that.

So, here is a short list of the things I do to ensure that my listings are getting shown. Not only shown, but shown constantly by other Realtors.

My listings are:

1. Priced right, always. I am an expert on pricing.

2. Clean. Very clean.

3. Easy to show. No appointment necessary and always on a lock box.

4. Positioned properly in the MLS. This is achieved by "Range Pricing."

Realtors can count on me to:

1. Answer the phone. If not, return their call quickly. 8-8 seven days a week.

2. Always be professional.

3. Never loose my cool. Ever.

4. Negotiate the deal without voicing my opinion. It's the Seller's deal not mine.

5. Assist them in anyway I can to get the deal closed.

6. Take the time to help them if they are new to the business.

7. Discuss issues with them upfront and not in a confrontational manner.

8. Always be honest.

9. Always stay focused on the end result, getting my Seller a check.

10. Thank them for a job well done and let them know I really appreciate them showing and selling my listing.

Now, doesn't all this sound better than filing an Ethic's complaint or "telling on them" to their Broker? My Grandmother was the most loving, most generous, most caring and most honest person I have ever known. If I did anything less than this she would look down from heaven and shake her stick at me. I would never want that to happen.

So remember, treat your fellow Realtors with respect. Help them if necessary. Be patient with "newbies", we were all one once. And most important, never forget…………Real Estate is about people, not money!

About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.