New Hampshire Real Estate Happenings with Monika

Hampstead , Nebraska

This Blog is all about real world real estate, no pie in the sky, just the information needed to help you make informed decisions. Looking for information on a career in real estate? Buying or selling? Looking for market data and trends? No crystal ball here but 22 years of solid real estate experience at your disposal. Humor me as we travel around a bit and discuss everything from family to business.

Favorite Links

• Monika McGillicuddy Presents

• NH Assoc. of REALTORS

• Ann Cummings

• Maureen McCabe

• Joeann's Blog relaxed real estate

• Jay McGillicuddy

• real-estate-blogs

• Agent Directory

RealTown Blogs

Blogs Homepage

Featured Entries

Site Feed

RSS Feed

New Hampshire Real Estate Happenings with Monika

Whose Time Are You Wasting??

Nov. 7, 2006

Categorized in: General

Tagged with: buyers, looking, realtors, searching, sellers, time

Whose Time Are You wasting???

Whose time are you wasting???

I stumbled across a blog on another site asking how many homes does the buyer look at before they buy? And it got me thinking.

Just how many homes does the average buyer look at before they buy?

So I looked it up and found out. Typically in the Northeast they looked at 8 homes, in the Midwest they looked 11 homes, down south and out west they looked at 9 homes.

I also found out courtesy of NAR based on the ‘05 Profile of Home Buyers and Sellers (06 will be out any day) just how long the average buyer looked before they bought.

In my neck of the woods ...of course they spent more time looking here than anywhere else ...NAR states that buyers in the Northeast typically searched for 10 weeks before they bought a home and typically searched for 2 weeks of that time before contacting an agent to help them.

Midwest typically searched a total of 8 weeks with 3 weeks of that time prior to contacting an agent.

South typically 6 weeks with 2 weeks of that spent prior to contacting an agent.

West typically 7 weeks with 2 weeks of that spent prior to contacting an agent.

So this tells me that on average most buyers have been involved in the research stage for a few weeks before they even contact an agent.

By the time they get to the agent they have an idea of what they want and what they can afford.

Now it's up to the agent/REALTOR® to make a difference. One way to do that is to conduct a Buyer Counseling Session. Effective buyer counseling will in most cases shorten the search time and help both the consumer and the agent understand each other much better.

Spend an hour or so meeting and counseling the buyer before you go and show...build trust and rapport and ask effective questions but most importantly listen to the answers they give you...these answers will help you determine motivation, expectations...both realistic an unrealistic, spend time exploring their wants and needs. You must listen with your mind as well as your ears and really hear what they are telling you.

Remember when showing homes the buyers have selected to focus on benefits...not just the features of the home. Convert those features to benefits the buyer can feel because people buy a lifestyle not just a house.

Isn't this a wonderful business!

monika@monikamcgillicuddy.com

http://www.monikamcgillicuddytrainer.com

Permanent Link | Comments (0) | Write a Comment | Send Link

New Hampshire Market Trends

Oct. 31, 2006

Categorized in: NH Market Trends

Tagged with: data, homes, housing, market, new hampshire, realtors, sales, stats, trends

Cool tools....check out New Hampshire Market Trends

The New Hampshire Association of REALTORS website has an awesome section on Market Trends written by Peter Francese. Check it out and if you are a REALTOR member be sure to log in and explore all the neat sections of this great REALTOR site.

monika@monikamcgillicuddy.com

Permanent Link | Comments (0) | Write a Comment | Send Link

Ethics

Oct. 31, 2006

Categorized in: Ethics

Tagged with: agency, buyers, disclosure, ethics, nar, offers, realtors, terms

In January of 2006 changes to Article 1 of the REALTOR® code of Ethics became effective. I don’t know why so many REALTOR®S have such a hard time with this change. It is really a simple disclosure requirement but much like our agency disclosure was in the early 90’s, it is being met with resistance. I think REALTORS don’t know how to handle this disclosure as it brings out a little secret that they are uncomfortable with. This little secret has in some cases been practiced in the state of NH for many years. I think that some REALTOR®S feel that NAR is sanctioning or recommending the disclosure of offers…the old phrase comes to mind here “RDR” …REALTOR®S Don’t Read. NAR is not sanctioning the disclosure of the terms or conditions of buyers offers but simply requiring

REALTOR®S to give buyers the heads up…that this COULD POSSIBILY happen…not that it WILL but that it could be a POSSIBLITY.

• Standard of Practice 1-13

When entering into buyer/tenant agreements, Realtors^® must advise potential clients of:

1) the Realtor^®’s company policies regarding cooperation;

2) the amount of compensation to be paid by the client;

3) the potential for additional or offsetting compensation from other brokers, from the seller or landlord, or from other parties;

4) any potential for the buyer/tenant representative to act as a disclosed dual agent, e.g. listing broker, subagent, landlord’s agent, etc., and

5) the possibility that sellers or sellers’ representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties. (Adopted 1/93, Renumbered 1/98, Amended 1/06)

I welcome your Comments or Questions?

Permanent Link | Comments (1) | Write a Comment | Send Link