Chris Nichols
By Chris Nichols
There’s a story about a group of students that goes a little something like this:
A Harvard professor was fielding questions from his class regarding the upcoming midterm exam. The questions were varied, but all seemed to carry a similar theme. Upon realizing this, the professor stopped the questioning and said, “Even though your questions sound different, they are essentially all the same; ‘What is the minimum I have to do to pass this test?’”
As of writing of this blog post, the London 2012 Olympics are just two weeks away. Athletes from around the world will be gathering to compete in various events. I can guarantee you, without a doubt, that none of these world-class athletes are asking themselves, “What is the minimum I have to do to get a gold medal?”
There is no question that the real estate business can be viewed as a “test” at times. But are you falling into the trap of finding ways to do the minimum necessary to just pass this test? If you are, I’d recommend you find a way to adjust your thinking and instead “GO FOR THE GOLD!”
Chris Nichols is a REALTOR® with Prudential Utah Elite Real Estate in Orem, Utah. Learn more about Chris at utahrepro.com or @utahREpro.
Scott Newman
By Scott Newman
Real estate is back in 2012 in a big way. Many markets are seeing price increases in response to dwindling inventories as more and more buyers are getting off the fence every day. With that in mind — especially since it’s been so long since we’ve had the opportunity to use the phrase “multiple offer” — I felt it would be pertinent and relevant to go through some best practices for handling multiple offer situations to make sure you’re in line with ethical and fair business practices.
Don’t Forget Your Loyalties: This is a big one, and it’s obvious, but many agents forget that you can’t disclose information that your client doesn’t authorize. No where is it written that you must disclose whether or not you have other offers on the table. Unless your seller has specifically directed you to do so, you should not automatically answer that question if asked by a buyer’s agent or buyer.
I have seen situations where a buyer will pull out of a deal because they think there is too much competition, and you can be legally liable for any negative consequence that results from your disclosing information you shouldn’t have.
To summarize, don’t ever forget that your ultimate loyalties lie with your seller, and just because you’re asked a question doesn’t mean you have to answer.
Treat Everyone the Same: This is another obvious one, but it’s important and bears repeating. To avoid accusations, legal action, and overall negative impact to your reputation as a professional, it’s imperative that you treat everyone the same way.
If you’re sending out a request for highest and best, send the exact same e-mail, forms, etc., to all interested parties who have seen the property so there is absolutely no doubt that everyone was informed of the status and had a chance to make an offer if they wanted. It’s better to e-mail an agent that showed the place six months ago along with everyone else, than it is to have your deal blown up by a lawsuit from a buyer who feels they were unfairly kept from knowing the latest update and opportunity to place an offer.
Keep Unbelievably Good Records: Continue reading »
Stefanie Hahn
By Stefanie Hahn
Agents will often ask me to check out their real estate website. They want to know how it looks, do I like it and are they doing it right? I love when I get to peek into an agent’s website and get a glimpse of what is important to them. Many agents opt for a template site – and that can be okay, as long as the site has a few key elements. I like to see that the agent has some control over the site, too: content, placement, headers, page titles and link structure – but mostly content. You can have the most search engine optimized site out there but, if you content stinks, the consumer won’t stay long. Bonus for fresh content, because we know how much Google loves fresh content. Here is my “must have” list:
1. I want to see “search for homes” or something similar on the first page, right in front of me. I see so many sites that bury the home search behind pages and pages of pointless content. Consumers expect to be able to search for homes on your real estate website. Keep it front and center. Two other things that would be so great: keep your home search unencumbered. Don’t make me fill out a resume before I can see what homes are available in my desired school district. Just let me search on my own. And, secondly, please give me all the listings. Not just yours, your office or your company listings. I want them all.
2. Give me market snapshots – there are tons of cool tools that will help you do this … Altos, Top Producer, or do your own through your MLS data. I want to know what the market is doing in the area where I am buying or selling. Give me data. Continue reading »
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