Real Estate Information Archive

Another Agent in my office and I were both negotiating sales this week. The two experiences are different as night and day.

I am currently working with a very Professional agent negotiating an offer on one of my listings. It's really amazing what's been going on.....When he calls me, I either answer the phone or return his call. When I call him, he either answers the phone or returns my call. Pretty cool don't you think? I can understand why this is so hard for some agents in this industry to aspire to this level of professionalism.

My Associate's experience with another (experienced!) agent has been much different. My Associate represents the Buyers. The Seller's agent does not return phone calls for days. When the sellers do make a counter, it's verbally and the Seller's agent tells my Associate she's too busy to put it on paper and will My Associate please get it written up, have her buyers sign and then send it over. Long story short, after weeks of back and forth and long periods of no communication in between, the Buyers walked. It was just too difficult and they fell out of love with the house. Thanks to the Seller's Agent who obviously doesn't understand the Negotiation Dance.

This is an extreme example of an Agent getting in the way of a transaction, but it happens all the time, and I'm seeing it more and more. I wonder if it's because many agents have had to get part-time jobs to support their real estate "habit".

 You see, there's a rhythm to the negotiation process. Once a Buyer decides to write an offer, he/she is emotionally invested (the exception being the investor). They have made their decision and they want their offer to work out.... Same for a Seller, who makes a counter offer to a Buyer. Perhaps their counter was not exactly what they would have liked to have gotten for their property, but if the Buyer takes it and they can be done, so be it. They are hoping it will work out.  But when the agents drag their feet, don't return phone calls (sometimes for days) guess what? The emotion cools, the interest wanes and sometimes tempers flare.  

In all fairness, it's not always an agent who is to blame. Parties to the transaction can sometimes stop the music as well. A seller, wanting to wait and see if a better offer comes in rather than responding to what's on the table now.... Or a buyer, deciding to wait and let the seller's counter offer sit for a few days past the expiration date just "to show them". Both of these scenarios can and often will result in failed negotiations.

Of course it is always up to the client what he/she/they want to do in the negotiation process. But with the representation of a good, experienced Realtor, they will understand the benefits, risks and potential consequences of those decisions before they make them, and if the negotiations fail, it's their choice, not because their Agent was lazy.

As for the unprofessional agent who just doesn't get it....here's some advice from a "Good, Experienced Realtor".....learn the steps or get off the dance floor!

Enjoy the Ride!

Colleen "Fish" Fischesser

www.ColleenFish.com         www.MapleValleyRealEstate.com

 

 

If you're trying to sell a home or property right now in Maple Valley or know someone who is, you're probably painfully aware of how much longer properties are taking to sell in our area.

• To be specific, active land listings in 98038 zip code have an average days on market time of 159.
• Single Family Residences, 111 days.

But perhaps you can take some small measure of comfort in that you are not the owner of a property which has been on the market for 2378 days!!  Yep. Do the math people. That's six and a half years!!! (And it could be longer because our MLS only archives back to 2000).

All kidding aside, the owner of this property is obviously not terribly motivated and he/she's chosen time over price. So if tomorrow is your day number 112, hang in there.

It could be a LOT worse. :-)

"The world always looks brighter from behind a smile.  ~Author Unknown"

Colleen "Fish" Fischesser

www.MapleValleyRealEstate.com       www.ColleenFish.com

Most successful Business Owners I know spend time in November and December working on and fine tuning their business plan for the coming year. It's not always fun to do, and is a little like homework, but every year I begin January with a detailed business plan.

I have been selling real estate in Maple Valley since 1990 and have experienced all kinds of market conditions and the one thing I can tell you is  if you want or need to sell in 2008 you'd better sit down with your agent and make a plan.

Here are some things to consider:

What do you Want? You must have a goal in mind. Do you really want or need to sell? Or do you "kinda wanna sell" but only if you can get your dream price? If you're in the latter group, I'd suggest chosing another goal for the New Year. This isn't the time. If you have to sell or NEED to sell get busy on your plan and you should be able sell before Spring brings an even greater Inventory increase.

Know Your Numbers! When I begin my business plan strategizing, I have to know my numbers for the last year. It's no different for you when selling. How many homes are on the market in your price range? In your neighborhood? How many have sold, what's the average price, average market time?

Hire a Professional who not only knows the area, but will be around in the New Year! Is the agent you're hiring full or part time? Is he/she familiar with the nuances of Maple Valley? Why one neighborhood might attract more buyers and for a slightly higher price than another? With numbers tightening, many agents will be leaving the business. Does he/she have a solid commitment to this industry or will you be left holding the sign up by yourself? (or worse assigned a new agent by the Broker?)

Take off Your Owner's Hat! If you want to sell, you must become a SELLER. Your property is now "the product". But on the Buyer's glasses and take an objective look at the market. What is the competition? How does it compare? Which other listings stand out to you and why? Are they staged? Priced aggressively? Which house would you buy today, if you were a buyer in the market? Why? These are all questions which you and your agent can discuss to help you get to S-O-L-D

Consider this: As of the writing of this post, there are 330 Active NWMLS listings in the 98038 zip code. 48 homes are under contract in Escrow. If you want to be one of those 48, because you want or NEED to sell it's time to forumulate your plan. And please, if you're in a position where you owe more than your home is worth, CALL ME or another agent who is experienced negotiating Short Sales. You don't have to lose your house in foreclosure!

Here's to your success!

Colleen "Fish" Fischesser

www.MapleValleyRealEstate.com      www.ColleenFish.com

 "The Maple Valley Specialist!"

 

 

Colleen Fischesser is the Broker/Owner of RE/MAX Select. She has been successfully listing and selling real estate in the greater Maple Valley area since 1990. She is the author of MapleValleyBlog.com

It's hard for me to believe sometimes that I entered this industry nearly 18 years ago!!

I've enjoyed the ride so much--all the new associates and friends I've made, not to mention what I've learned and how I've grown as an Entrepreneur. But when I think back on how my business was back in 1990, I think hmm...maybe it all wasn't so great afterall!

•  I remember going into the office and having to wait at least 45 minutes for a printer because someone was running "the hotsheet" of new listings...(35 of them) on a dot matrix printer. I don't think I'll EVER forget the sound of it's zzzidtt ...zzidtt...zzzidt.

 

• The Brick cell phone, which cost me about $1200

 

• Dos Based listings with no photos ...but the Books! (Ah, now that's another blog topic altogether)

 

• My first computer with a 2 mg hard drive. Woo Hoo! I was living HIGH!

 

• And the flyers....we used lots of tape and white out and "techniques" to produce cutting edge stuff....and don't forget that cut-&-paste (not w/ your mouse, but with scissors and a glue stick!)

Don't get me wrong, I wouldn't trade those early lesson-learning, pay-my-dues days for anything. But it would have been nice to have had a digital camera from the git-go!

Happy Holidays!

Colleen "Fish"

www.ColleenFish.com         www.MapleValleyRealEstate.com

One day last Summer I received a phone call from the Broker of another office who was trying to track down a theft which had occurred at the home of some clients his brokerage represented. It turns out, during a showing a few weeks prior to the phone call, some checks had been taken from the house and the Sellers only just realized it when one of them was cashed a few weeks later for $8,000!

Fortunately, my agent and her clients had nothing to do with the theft, but it really changed my thinking as well as the advice I now give to my Sellers.

Typically in the past I would always remind sellers that prior to putting their home on the market, it would be wise to put away valuable jewelery and heirlooms as well as prescription medications. But with identity theft such a common occurrence these days, I now tell them to hide all mail and financial records including checks and bank statements.  Although we take precautions, it's not impossible for even the best Realtor to be fooled by an expert con-artist.   So in addition to hiding your valuables and medications, put all your personal information & mail in a locked file cabinet or drawer...better safe than sorry

Active Listings Single Family Homes Priced Between $300,000 & $400,000	Average Price	Average square Footage	Average Price Per Square Foot
Resale	$363689	2092	173.85
New Construction	$362520	2341	154.86

 The Date has been set for next year's the 2008 Little Miracles Dinner Auction hosted by the professionals at RE/MAX Select R.E benefitting Children's Miracle Network and  Pediatric Brain Tumor Research. Held April 25, 2008, "under the big top" at the Olson Mansion in Maple Valley, WA, this event was sold out far in advance last year.

King 5 Television's John Curley will be our Auctioneer for the evening...and he's an absolute RIOT!!! So if you're interested in attending or donating, please call or email me for additional information. It's a really great time for a really great cause.

Here are some highlights of last year

  

 

 

I received another "Builder Incentive" email in my inbox this morning. "There will be a drawing this weekend for a hotel stay and no reasonable offer will be refused". It made me pause and ask, "What makes one offer 'reasonable' and another not?"

In the early 90's I wrote a very ridiculous offer on a Builder owned property, which of course was rejected. I was a "newbie"....I'm sure my clients had bought and sold more homes than I had, and I allowed that to intimidate me. We wrote the offer low and asked for the moon...., furniture, new deck planters and benches to be built, fence, paint....oh, and we were about 10% low on purchase price when the market was indicating homes were selling within 1-2% of List price!!! The laundry list of requests took up a whole 8 1/2 x 11 blank addendum. Of course we were shot down, the builder didn't even counter.

I remembered that offer when I received the email this morning and I know that somewhere an agent is writing a ridiculous offer that a builder will think is unreasonable. So what's the difference? How low is too low? How much is too much to ask for?

Keep in mind, that finished inventory is not a good thing for a builder. The longer he/she sits on a finished home, the more the interest payments begin to eat into the profits. How long has the house been on the market? When was it finished? Can you get a dollar amount for your area and figure out what the cost to build was and what he/she might have into it? I've found it's helpful to work from the ground up, literally. Determining how much the land was purchased for, what the hard costs of construction most likely are, and what selling costs will be. Factor in a small "face saving" profit and that's the number I suggest to my clients. Especially if the builder is sitting on lots of finished inventory. (no pun intended)

By approaching the process with a "everyone wins" attitude, you're more likely to end up with a successfully negotiated contract and happy clients!

Friday I was with clients showing properties and I noticed that none of the homes displayed any Holiday decorations.  I guess it's possible these sellers did not recognize the Christmas season,  but it made me wonder if Seller's refrain from decorating for the holidays because their house is on the market and if so...why?

I've had clients of mine ask if it was ok and I've always said "absolutely"! Just because your home is on the market, doesn't mean your life comes to a stand still (although it can often feel that way). If tastefully done, Christmas and holiday decor can enhance the warmth and character that make a house a home.....enabling the buyer to envision where he/she would put their tree, or how they would decorate.

As with everything else in your house during the listing period, less is more. Decorate, but don't over do it. More than anything, you want your Holiday decor to enhance your home, not overwhelm it.

Enjoy the Season!

Current Active Listings:	Average Price	Average Days On Market
343	$463,902	105

 

Closed Listings:	Average Price	Average Days On Market
58	$453,760	98

Visit MapleValleyRealEstate.com to learn more about Maple Valley and to view Featured Homes in the area.

*(Residential Single Family Listed through NWMLS)