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Bueller… Bueller… Cameron Fry’s Home is For Sale In Real Life!

May 26, 2009 By Leave a Comment

ferris bueller house for sale cameron fryIf you’re in the market for a home in Highland Park, Illinois and can spend in the $2.3M range, the home made famous as Cameron Fry’s home in “Ferris Bueller’s Day Off” is in the market!  Looks like an awesome mid-century modern abode if I do say so myself.

I’ll be staying in Austin, but may take some inspiration from this home for our next build!

See more at the Realtor.com [370 Beech Street, Highland Park, IL] listing, and I can set you up with a Highland Park, IL area Realtor if you’d like to take a look or make it your next home!

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It’s Official, my license has been upgraded to Broker!

May 7, 2009 By Leave a Comment

picture-121

trec_seal-99x99It’s official, my real estate license has been upgraded from Salesperson to Broker.  What’s the significance?  I have proved to our licensing authority through additonal education, experience, and testing that I am worthy of full real estate Broker’s license.  I now have more rights in the state of Texas and with the Realtor associations.

I no longer need to work for a Brokerage and have earned the right to open my own, but I will be staying with BridgeOne Properties because I have great support there and it is the kind of company I would want to create anyway.

I now have rights to more statistical information and some MLS API that will make this site better.  It will take some time to make the improvements, but I am very excited about them.

staytunedAustin Home Pro is Improving Again!

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You want the best service? Be the best client.

April 18, 2009 By Leave a Comment

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There are bad apples in Real Estate, we all know that!  There is plenty of greed, incompetence, disloyalty, and plenty of other less than honest traits in this business — on both sides of the table.

The struggling state of the economy brings out the best and the worst in people.  In our best efforts to be untra-responsible and conservative with our dwindling funds, we’re looking for the best deal, the best freebies, and are really looking out for number 1.

Here’s why this reaction to panic is hurting us rather than helping us: The best deals, best customer service, and best prices come from the best working relationships.  If you don’t trust your Realtor® (or CPA, or Doctor, or lawyer…) find one that you do trust to work hard to help you meet your personal and financial goals.  This may not be your son-in-law or your best friends daughter!

Loyalty and trust are needed for the best marriages and the best business relationships. The person who can give you their best efforts, best knowledge, and hardest work is the person to whom you are honest, open, and loyal to.  If you are constantly shopping around for not just goods, but people, you burn bridges that could be the best deal in the long run.

Why you have to be loyal to your Realtor®: I know it sounds like a really fun job, and it is.  But it also takes a great deal of knowledge and hard work that you don’t see.  A good agent spends hours, days, weeks, or even months putting in the time and research for you.  A good agent spends a great deal of time and money on resources that help serve you better, plus gas money and advertising.  If you cheat on your Realtor®, they have no incentive to put in the extra effort because no one, not eve those of us in the Real Estate biz, can work for free right now.

A great relationship with a great Realtor® can go very far.  Real Estate is one of the most popular and proven ways to build wealth.  If you’re good at what you do, keep doing it.  If you find a great agent, keep ‘em.  If you have a long, loyal relationship with your agent (or any professional for that matter), they will always be looking out for you, helping you, and if you’re one of their biggest fans, they will be one of your biggest fans as well.

We are human and hungry too. I know there are plenty of agents running around flaunting wealth (that they may not even have) that give you the impression that we make money in our sleep, but I assure you that anyone actually making a strong living in this business (the average Realtor makes around $55k/year working 40 hours/week) is working their butts off just like you.  It’s stressful when things are down, we also have bills to pay, and it still burns when you use us and toss us away.

I hear so many stories lately about unfaithful clients and unfair practices between the buying and selling agents and even with their own clients.  If you want the best service, be the best customer.  Be open, honest, and loyal, and you will receive a wealth of knowledge and hard work in return.  We will be working around the clock to make sure that your goals are met to the absolute best possible extent.

This doesn’t just go for Real Estate. If you’re struggling, you are absolutely not the only one.  Don’t forget that.  No matter how green the grass on the other side of the fence looks, it doesn’t mean that it’s getting watered for free.  We all react differently to stress and uncertianty, some of us hide it better than others, but the American Dream is still about hard work and great relationships between two parties that each have something to offer.

An example… As you may know I work heavily in the construction industry in addition to sales and consulting.  In 2005 and 2006, business was absolutely booming.  It was hard to find a framer, landscaper, or other workers that could show up in a timely fashion, do the work for a good price, and do the work well.  Those who worked hard to maintain a strong relationship with us are now the ones we choose even when every plumber, electrician, and welder on the block knocking down our door for work.  No matter what the circumstances, be human and treat others as humans.

</rant>

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How Hard Is Your Realtor Working?

February 20, 2009 By Leave a Comment

From the 2007 National Association of REALTORS® Member Profilewoman-realtor-in-austin

  • 60% of REALTORS® typically work at least 40 hours per week.
  • 25% of a REALTOR®’s business is based on referrals from past customers.
  • Half of REALTORS® are affiliated with independent, non-franchised firms (local Brokerages).
  • The median income for a REALTOR® working 40-59 hours per week is $63,000.
  • Medial experience of all REALTORS®: 7 years.
  • 41% are male; 59% are female.
  • Median age: 51.
  • 34% of REALTORS® have some college education while 12% have an associate’s degree, 26% have a Bachelor’s degree, 8% only have a high school education, 10% have at least a Graduate Degree, and 8% have had some graduate school education.
  • 90% of REALTORS® own their home.
  • 95% are registered to vote.

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The Great Realtor® Bail-Out

January 16, 2009 By Leave a Comment

ABOR Membership CountA recent topic of conversation brought up by my clients and friends is of the fate of Austin’s Realtors®.  We all know the typical narcissistic reputation of Realtors® brought on by a few out-spoken but bad apples.  So the big question is… “Is the housing downturn weeding out those in the business for the wrong reasons?”

I wish the answer was as simple as the question.  Yes, the downturn as weeded out many part-timers, but those with egos as big as their ostentatious Texas cars that are actually successful in spite of said egos, are hanging on.  The good news is that good agents are getting even better by sticking through the trials and tribulations of these turbulent times by learning lessons that aren’t available in a strong market.  You will see those who are 100% dedicated and committed — those who love their jobs — sticking in to see this downturn through.  Those agents believe in their jobs and Austin’s market.  They know that these times are caused largely by perceptions and attitudes dripping down from the national economy.

The Austin Board of Realtors® published some news on this topic (targeted at Realtors®) as well:

After a prolonged period of growth from 2003 to 2007, ABoR membership dipped just three percent in 2008. Moreover, the majority of members leaving the real estate profession had been ABoR members for fewer than two years.

Know your Realtor®’s dedication to the business, it may be as important as their knowledge, skills, and experience.  You don’t want an agent who will bail on you because they were only in the business for the easy times.

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What do YOU look for in a professional?

May 15, 2008 By Leave a Comment

Real estate is a viciously competitive business in Austin. How do you choose your REALTOR®? How do you choose any professional?

  • Relation to a family friend?
  • Referral from a friend?
  • Fancy website?
  • Use of technology?
  • Use of traditional methods (ie a traditional salesman)?
  • Someone whose personality is similar to your own?
  • Dedication to the job?
  • Knowledge and experienve?

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Why You Should Choose a Boutique Broker: It’s All About Ma and Pa Customer Service

May 9, 2008 By Leave a Comment

After my recent post “We Are the Real Estate Experts, Aren’t We?” you may argue that large, national chain brokerages may be better because they have the resources and the budgets for agent raining and education. And while I think that these Brokerages are a great place for new agents to start for that reason, if you are serious about buying or selling a home or investment property in Austin, chose a boutique real estate company.

Why? Let the new agents get their start with one of the big guys. They often have in-house training, which is truly needed to get these agents competent enough in their careers after relaxed education requirements by the Texas Real Estate Commission (TREC). And many great agents emerge from the big guys — into small, boutique-style companies with a focus on customer service. The rest are eaten up by the business, and pursue a better-fitting career.

Quality vs. Quantity
Do you want the agent you hire to be focused on quality or quantity? The big companies play the old-fashioned, used-car-salesman numbers game. No wonder REALTORS® are getting the Used Car Salesman reputation, huh? The instruct agents to go after every listing, no matter the quality of the clients and the property. If you have 10 listings and 5 drop out, you still have 5 listings! This is why you receive post cards all the time from agents with the big companies, especially if your listing expires in MLS.

Although some small Austin brokerages still focus on quantity, most focus on quality. Quality listings, quality clients, take 3 clients, have 3 happy clients who make it to closing with smiles on their faces. Shouldn’t quality over quantity matter when you’re hiring someone to guide you through such am important time in your life?

Do you want to be a number or a person?
Although I sometimes want to shop quietly and anonymously, be it at the mall or for real estate, I still want the customer service when it counts. I want the answers and I want them when I need them. I want guidance and I want it when I need it. What will I get that with a frazzled agent shuffling 10 listings and 15 buyer-clients (with 8 over-priced listings, 5 don’t show well, 9 haven’t heard from her in weeks, and all 15 buyers are represented without pre-qualification and a buyer’s rep agreement)? I doubt she’ll answer when I call, how can she? I doubt she’ll have the answer and will have to get back with me. Why am I paying her again?

I won’t take a number, I’ll move on to the next guy. I don’t want to waste time, effort, and money. I want to get it done and get it done now. That’s why I recommend a small company — a Boutique Brokerage — headed by a great Owner/Broker who has a vast amount of knowledge and experience. Don’t take a number, be number 1. Hire someone who will earn their money by giving you guidance and advice every step of the way, even before you asked the question. Hire a REALTOR® who will take the time to be your friend, because trust me as someone who moves a lot, a friend is what everyone needs when they are moving!

Naturally, I recommend BridgeOne Properties headed by Michelle Cain. Yes, she got her start with one of the big companies. She used everything she learned by being successful with the big guys to create a company supportive of both its agents and its clients. BridgeOne is Austin’s Boutique Real Estate Company… We don’t sell an exceptional number of properties, just exceptional ones.

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We are the real estate experts, aren’t we?

May 7, 2008 By 5 Comments

I know that I have a pretty strong mix of consumers and Realtors® reading this blog and this is an issue that really matters to both. What is the value of a Realtor®, what are the basic levels of experience you expect, and should standards be raised? I read a blog for agents several times a week called Agent Genius and today a blogger, Benn Rosales, posted “Ending Right to Practice” which brings up an argument that I have touched on in the past but is very important. There are over 8,000 Realtors® under the Austin Board of Realtors®. Keep in mind that Williamson County has its own board, although some are members of both. 8,000 Realtors® in Austin, not counting those licensed real estate agents who are not members. No wonder we all receive so many post cards and emails!

The perception of value of Realtors® is not good right now. There are plenty of really good Realtors in town. And there are just as many under-qualified, under-trained Realtors and real estate agents. This makes my job so much harder! I work my tail off using the experience that I’ve gained through a lifetime in the real estate industry. I honestly don’t know how hard it is to learn this business, but some are suited for it and some are not. I hope that these “turbulent times” help to weed out those who are in it for the joy of the job and those who heard there is money to be made in real estate.

What should the requirements be? In Texas, those seeking a real estate license must complete a few hundred classroom hours of courses followed by 15 classroom hours each year. Those seeking Broker’s licenses must be an agent for two years and complete an additional load of courses. I won’t bore you with everything here, visit TREC’s Education section if you’d like to know more. Is more education needed? I did not find the courses difficult and completed my initial hours in two months. I had the advantage of a strong background in real estate and found that many of the items covered are not practically used and that I felt I needed more transaction-specific education. I found this with the Texas Association of Realtors® GRI Courses. Still, nothing beats good old-fashioned experience! Many, many agents don’t pass the licensing exam the first time. You’d be amazed at how many don’t! I’m proud to say that I aced it, but again, I had experience before education so I was at an advantage.

I find that all of the odd transactions find me. I mean that seriously. When I take a simple listing, I get complicated offers. When I take a complicated listing, contracts don’t often lead to a closing the first time. Luckily, I have the support of my experience and my Broker’s encyclopedia of experience and knowledge (thanks, Michelle!). Without the support of my Broker, I wouldn’t be nearly as successful. All of these new brokerages around town can be scary. I was in class with a girl younger than myself (and I consider myself a youngin’) at the tail end of getting her broker’s license who already had part ownership in a brand new brokerage with other new brokers. Scary! Who do the agents call when they have a funny item on a contract?

Agents need more education! And more practical education! Brokers need more experience. The two-year time limit wouldn’t bother me if the Broker-to-Be had closed 40 transactions, but there is no transaction requirement currently.

What are your feelings? I’d love to hear more on both the agent and consumer side. We are the experts, aren’t we?

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Austin Housing Market Facts

May 6, 2008 By Leave a Comment

From the National Association of Realtors® Housing Market Facts Website (http://housingmarketfacts.com/). I was reminded of this site after seeing another TV commercial by NAR as a part of their public awareness campaign.

Real Estate as a Long-Term Investment

  • Real estate is an investment in the future and includes social and economic benefits.
  • Homeowners are more likely to vote and volunteer than renters.
  • Homeowners move less frequently than renters, providing stability in neighborhoods (and lives) which leads to greater community involvement which leads to less crime, better education, and neighborhood upkeep.
  • Homeowners stay in their homes a median of 6 years.
  • Homeowners make more in equity than other investments; usually much, much more.
  • Buyers and sellers give high marks to Realtors® for their helpfulness, expertise, and professionalism.
  • 9 out of 10 buyers and sellers would definitely or probably use their Realtor® again and recommend them to others.
  • A typical home sale today takes 20 steps. You may not know what they are, but your Realtor® does (or at least should!
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Is Your Realtor®/Real Estate Agent Screwing You?

April 22, 2008 By Leave a Comment

If they are not giving you all the facts, YES!  A big part of the concept of our industry is cooperation.  If I have a seller, I want to cooperate with an agent with a buyer for my seller’s property since most buyers are represented.  Likewise, if I represent a buyer, I need the cooperation of the seller’s agent.  I represent my client’s best interests, and the other agent should be representing his or her client’s best interests, but I still find that many are really only after their own interests.  So what’s the point?

You should hire a Realtor® to represent you and your best interest using their expertise in the real estate industry and in real estate transactions.  Sure, you call buy or sell a house yourself, but Realtor®s are here because most people don’t have the time or energy to invest in learning how to market or search for properties, writing and negotiating contracts, how escrow works, how to do a title search, researching market trends.  It seriously is a great time and energy commitment.  Since most people have day jobs, hiring a Realtor® is generally worth it since their knowledge typically brings you 17% more for the sale of your house (easily offsetting their fee).

So what’s up with the market these days?  A Real Estate Agent’s job just got a whole lot tougher.  Everyone and their mamma wanted to buy, sell, flip and invest in 2005 & 2006 so when national news hit that we are in a slump coupled with this election year, naturally things in the real estate market slowed.  Those of us in the industry are battling misconceptions from national news (Austin still has a strong economy with a growth rate of at least 4%/year), fears of paying too much, buyers waiting for exactly the right moment to try to get the best deal, and now other Realtor®s who are not cooperating.

If your Realtor® isn’t giving you all of the information including what to expect from each step in a transaction, RUN, don’t walk to interview other agents to find one with the knowledge you need to stay ahead of the game.  The real estate agents of the 90′s are a dying race now that over 80% of homebuyers start their search online.  We are not the only ones with the information now that the internet is around.  What we do have is experience of transaction after transaction and creativity from working in this industry day in and day out.  Your Realtor® should really be a tougher, stronger negotiating, more experienced in real estate transactions version of yourself.  If you’re a technology lover, hire a technology-loving Realtor® (that’s me).  If you are everyone’s best friend, hire a Realtor® that’s everyone’s best friend (not me).

Just DON’T hire someone who will leave you high and dry, liable to a law suit, and without getting the best deal.  As predominately a seller’s agent, I am always looking for the cooperation of a buyer’s agent to bring me qualified buyers.  That means buyers who are a) actually committed to a home purchase, b) financially qualified to buy the home they are looking at, and c) trusting enough of their agent to let them see the transaction through.

So don’t hire an agent just because they are your cousin’s best friend’s boyfriend or your mother’s boss’s daughter.  Hire them because they are the real estate expert version of yourself, someone you can trust, and someone with all the answers.

These are tough times in the Real Estate Industry, but I believe in survival of the fittest.  This is where I need the help of you, the consumer.  Don’t hire that bad agent and they will find a job that they are more suited for.  Otherwise, you are wasting your own time and the time of all of those who are working hard to make these transactions happen.  Find a good, honest agent and all real estate transactions will run more smoothly with better informed consumers making better deals.

My sellers deserve the best, and I will continue to advise them against screwy offers that will tie up their property, hopes, and time — and only when they are motivated to sell.  My buyers deserve the best, and I will only show them properties they are qualified to buy when they are ready to buy.

If you hated your last real estate transaction, don’t give me the opportunity to say “I told you so” next time!  And I know some of you will know who I’m taking about.

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