75 Dead (Occupation: Real Estate)

A Vacant house, a Stranger, an Urgent request to Meet there Immediately . . . Absurd? It happens all the time to Realtors. In the hyper-competitive real estate profession you know if you don't jump, the buyer will find another Realtor who will. You know this kind of call is unlikely to be fruitful . . . but the eternally hopeful optimistic adrenaline junkie inside you starts cheering from the back of your mind, "What if this is the exception? Go! Go help Buyer...Go get it sold..." As Realtors, closings feed our families.

63 Dead in 2013:  38 Accidental . . . 25 Homicides.  The Bureau of Labor and Statistics reports an occupational average since 2003 of 75 fatalities per year industry-wide (real estate for sale, rent, lease).

As an industry, perhaps it's time Realtors re-educate the the buying public on the home buying process and implement professional courtesy standards requiring buyers to meet Realtors at their real estate offices for a Buyer Consultation prior to showing appointments and obtain from buyers a written pre-qualification/pre-approval for financing or proof of available funds for purchase prior to scheduling property showings. Perhaps the National Association of REALTORS® can amend the Realtor Code of Ethics to include a professional courtesy Article like this to promote Realtor safety, professionalism and productivity, buyer education and preparedness, and increased seller satisfaction by limiting showings to only buyers who have provided Realtor with a written verification of their ability to buy.  

Is expecting buyers to verify their ability to purchase what a seller has prepared for them, Realtor has researched and will devote their workday to showing them . . . too inconvenient for real estate buyers . . . or too radical to implement?  Or would serious buyers, sellers, local real estate boards/associations, state organizations like the Wisconsin REALTORS Association and Realtors across America benefit if such an Article is added to the National Association of Realtors' Code of Ethics? 

Until we take a stand together as Realtors and make such a pledge to each other, there will always sellers preparing their properties for "buyers" who cannot buy and Realtors who will feel the need to sacrifice professionalism, jumping to the urgent call and placing their personal safety at risk so they don't lose the potential sale to another Realtor.  

Certainly there are occupations far more dangerous than "Realtor."  Aside from cases where clumsiness and slippery walkways are involved, we shouldn't see any fatalities in this industry.  Homicides resulting from stranger-danger in our workplace can be avoided. 

This is an industry of professionals dedicated to helping people find and acquire "Home" -- a place of safety and security, where treasured memories are made, dreams come true and love abounds.  Can't we keep fear of occupational fatalities out of real estate by implementing a simple safety rule into the Realtor Code of Ethics?  

Maybe if the job description demanded we climb columns and peek in windows to avoid soiling sellers' carpets and save fuel by leaving the car at the office and hopping rooftop to rooftop to rooftop to show properties . . . then it might be difficult to avoid occupational fatalities.  Opening a door . . .  Homicide?

Let's stand beside each other and our seller-clients and take an oath to protect our professionalism, our safety, and our selling clients from the horrors and heart-ache that we create when bringing buyer prospects with unknown purchasing capabilities, unknown motives, and unknown histories into neighborhood properties.

http://www.bls.gov/news.release/cfoi.t02.htm

How To Spot A Home That Might Sell Below Its Real Estate Value

Want to increase your chances of buying a home below current real estate value? Just look for a seller who didn’t listen to his agent.

The best real estate agents encourage their sellers to do whatever it takes to get the home in its absolute best condition before going to market. The better the home shows, the more likely the seller will get top dollar.

Sometimes, this could be as simple as removing personal items or decluttering. Other times, an agent will suggest bigger fixes, such as painting, replacing carpet or upgrading countertops or cabinets. Savvy sellers listen to their agents, make the changes suggested and go to market in top form. That’s not always how it plays out, however.

For any number of reasons, many sellers protest suggested fixes. Either they don’t want to be inconvenienced, don’t believe the fixes will matter or don’t have the financial resources to make it happen. Inevitably, this means the buyer will get a discount on that property.

How to spot a home that might sell below its value
Is there a home for sale in a good neighborhood and in the desired school district that seems to be well-priced but for some reason isn’t selling? This is the home you want to investigate, because chances are the seller didn’t listen to his agent. Specifically, here are some tell-tale signs to look for.

Big furniture or a lot of furniture
Most people don’t buy furniture to use when staging their home. Often a seller may have a lot of furniture in one room, which makes the room look small to potential buyers. Real estate agents and professional home stagers know this all too well. For example, stagers always suggest a small loveseat over a full-blown couch or sectional sofa. Also, in the bedrooms, king beds often take up too much space. So a stager will often push the seller to swap it out for a queen or full-sized bed.
When you enter a house that seems crowded with furniture, imagine the rooms with fewer or smaller pieces. Be aware that plenty of potential buyers won’t get past the sense that the rooms are too small, and they’re likely to move on to a home that feels bigger. In turn, this could give you room to negotiate a good deal with the seller.

Dark rooms
There was a home in West Hartford, CT on a great block, but the interior was dark. Three large French doors in the living room led to a deck, but the doors were stained black, and the carpet was brown. On top of that, the window coverings were big, heavy and overtook the room.
The house sat on the market for months, even though the price wasn’t far off the real estate market value. Here’s why: Every buyer walked in and out because the house was so dark. After the home had been on the market for three months, a smart buyer made an offer $40,000 below asking and ended up getting it.
Before the buyer moved in, he removed the window coverings, stripped the stain on the doors and painted them white, pulled up the old carpet and had the floors stained to a lighter oak. Right away, the dark room became light, bright and welcoming. The buyer’s total cost: $9,000, which instantly added $31,000 to his equity.

Grandma or Bambi staring down from the walls
Buyers are looking to see themselves — and not the current owners — in a home. Too often, however, the seller hasn’t “depersonalized” his home enough, or at all. Even though the listing agent may have told the seller to clear the house of his possessions, the seller may be proud of his accomplishments and resist.
And so potential buyers are treated to walls decorated with diplomas, family photos, awards and trophies. Moose and deer heads hanging on walls are surefire deal killers, especially when the hunting rifle used to kill Bambi is proudly displayed, too. At best, buyers tend to see such highly personal stuff as clutter that takes the focus away from the home. They’re turned off by it all, and they walk away.
They might also be walking away from a great deal. Are the bones of the home good? Does it have the floor plan you like? Are the kitchens and baths in acceptable condition? Is it in the area where you want to live? If you say “yes” to all of these, hang around a little longer. Imagine the home without the seller’s junk. Picture yourself living there, without Bambi.

A good home that doesn’t show well = a great opportunity
Ultimately, sellers who don’t listen to their agents or stagers inadvertently give savvy buyers a discount. For you to see that potential, try to understand as much as you can about why the seller is selling. Look for sellers who have ignored their agent’s advice. While conventional wisdom says that a buyer would be turned off by a home that shows poorly, go against this. Imagine the potential. And then, once the home is yours, make those small changes the seller should have made. Right away, you’ll have a little bit (maybe even a lot) of equity, thanks to the seller.


Read more: http://www.zillow.com/blog/2012-10-22/how-to-buy-a-home-below-current-real-estate-value/#ixzz2ADulUmkK

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