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June 2006

Showing Management Software - Jun. 30, 2006

Showing Management Software


Our company just signed on with Showing Solutions
(www.showingsolutions.com). I don't know if they work in your area, but our
fees are $25 per listing unless the MLS # changes. (They have another plan
that's $25/agent/mo. for bigger offices.) For this we publish their number
in the MLS. Agents call SS to request showings. SS calls the seller for ok
of showing. SS calls the buyers agent back to confirm/decline the showing.


This is followed by an automated e-mail request for feedback sent to the
buyer's agent which when returned can be previewed by the listing agent and
then forwarded to the seller or sent directly to the seller. All for a one
time fee of $25. That's the best deal in town. We no longer have to check
voicemail every 15 minutes. It's all done for us. Plus they have an online
area to record your activities for marketing or other communications which
the seller can log into for info. If it's available in your area, it's
worth researching.

Bonnie Erickson

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Staging Costs - Jun. 30, 2006

What type of cost are you seeing out there for staging and do you pay it up
front, or reimburse them at closing.

=====================================================================

I pay the Stager on a monthly basis from her invoices. Typically costs about
$125 per home.

Also, she charges me $125 to do a vacant property with accouterments.

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Staging Quotes - Jun. 30, 2006

Staging Quotes

>It works because many Buyers...cannot visualize what it could be - they
only see what it is now - and they don't like it. Surely you've had a Buyer
say - I don't like this carpet!! <

Corny but true famous sayings of Barb Schwarz:

"If you can SMELL it...you can't SELL IT!"
"Start packing, because you ARE moving!"
"The investment in staging is less than your first price reduction."
"Detail your house like you detail your CAR!"
"Clutter EATS Equity!"
"You can't SELL it if you can't SEE it." (house hidden inside the
"landscaping"
"Buyers (and appraisers) only know what they SEE...NOT what it is GOING TO
BE!"

One of the weirdest things she said in the class was "We are not selling
HOLES!" She was talking about open toilets. But I swear I hear her saying
that every time I see the open hole of a toilet in an mls photo, and she's
right. Close that toilet before taking the picture.

 

Hi Megan, I have two homes right now that are totally empty
and they are very white and very vacant....I keep a closet
full of "little treasures" for just such an occasion.
The living room gets a big colorful throw rug and a couple
of wooden folding chairs, I lean at least 1 picture or
mirror (that I've picked up at garage sales for a buck or
two) on each wall. The dining room gets a small round top
table with a long skirt and a colorful dish (again, garage
sales bargains).....Each bedroom gets a big colorful
comforter laid out on the floor so people can visualize
where their bed will be and still be able to see that their
dresser or TV cabinet will fit in also. The bathrooms get
some pretty towels on the towel bars. Every room has just
one small touch of red to draw the eye to whatever I feel is
the most important 1st impression. (silk flowers I've picked
up at tag sales, cheap) I then use "HomePlanPro" to draw
up a floor plan and place furniture in the rooms so people
can see how they will live in the home.......buyers love to
take floor plans home with them......One of my two vacants
is now under contract while other identical homes in the
neighborhood are still on the market and I have multiple
offers coming in on the other one tomorrow, according to the
agents that called me earlier this afternoon.
My collection of "treasures" were very inexpensive but they
are tasteful. No junk, just a little used.


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Staging Befuddlement - Jun. 30, 2006

Staging Befuddlement
From: "Alice Newman" <aliceanewman@cs.com>

Okay, think of this. You go into three different homes and they all look
similar. What is going to stand out to someone? I give the house some
personality if it needs a lift. I have staged houses and have had great
results. When I get a new listing, I walk through the house and look to see
what I have to work with. I ask permission to move furniture, add touches
and stage their house to sell. I've always had success when I've done this.


To me, staging is about emotion. The emotion you create when someone sees
themselves in the home. When I get a listing I go out and buy up to $100
worth of items to help the property show well. I re-use items from one home
to another. I store the items in my garage. If it's a vacant property I may
only put a wreath on the door, some kitchen towels and maybe a rooster lamp
or something along the lines that would look good in that particular
kitchen. People then can refer to the "rooster lamp house".

If it's vacant they may not have much to differentiate it. I sometimes set patio tables as
if there is a pool party coming up (even with no pool). It stands out and
another thing I've done is to set a bed tray with a cup and saucer, a vase
with a rose, a napkin, a box of tea, and maybe a folded newspaper. It won't
appeal to everyone but it will appeal to most and make them think about
relaxation associated with the house. Also the homeowners that still live in
the home reported feeling more happy and relaxed while they had their house
on the market. It made them keep their house picked up more too. Sellers can
do this but when they have their home on the market they have emotionally
already moved out and have their minds on where they are going. So it is my
job to help them with this.

On the upper end properties, less is more. I will also print out little cards (5x7)with notes on special amenities the house might have since the buyer's agent might not be aware of it and I
won't be there to point it out. I might not do anything in an upper end home
except the notes. Anyway it's just my two cents.


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Blue Carpet Everywhere - Jun. 30, 2006

I am going to list a home with blue carpet everywhere. I sold the house a
few years ago to the people who will be selling it. When I first sold them
the house, the listing agent said she had a few problems selling the house
because of the blue carpet.

Have any of you out there seen a general
adverse reaction from buyers to the color of blue, especially in
wall-to-wall carpet? The seller is trying to decide whether to re-carpet or
not. It's a big house and will be expensive. They want to get top dollar
for the house.

Thank you one and all

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Welcome To The SRS Blog! -

This weblog contains resources and discussions focusing on seller representation and the key role played by those real estate professionals who have earned the prestigious SRS designation. COMMENTS ARE WELCOME. To submit a post, simply send an eMail to SRS@RealTownBlogs.com. To post a comment, simply click on the "Post A Comment" at the bottom of the post.  

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Dealings Initiated by Another Broker Client - Jun. 26, 2006

Feb. 10, 2006 - Case #16-14: Dealings Initiated by Another Broker Client

(Adopted May, 1999.)

 

REALTOR® X, a residential broker, had recently listed a home. REALTOR® Xs marketing campaign included open houses on several consecutive weekends.

One Sunday afternoon Buyer B came to the open house. REALTOR® X introduced herself to Buyer B and asked whether Buyer B was working with another broker. Buyer B responded that he was, in fact, exclusively represented but went on to add that he was quite familiar with the property as it had been previously owned by a close personal friend. REALTOR® X told Buyer B that she would be happy to show Buyer B through the home and answer any questions he might have, but added that she represented the seller and not Buyer B.

After viewing the home, Buyer B indicated that he was seriously interested in the property and intended to discuss a possible purchase offer with his buyer representative. REALTOR® X responded that there were several other buyers interested in the property and that it would likely sell quickly. I can't tell you what to do, but if it were me, I would make an offer today, REALTOR® X told Buyer B, You can go back and discuss this with your broker if you like or I can help you write a purchase contract. Its your choice. With REALTOR® Xs words in mind, Buyer B decided to make an offer. REALTOR® X assisted Buyer B in filling out a standard form purchase contract which was accepted by the seller later that day.

REALTOR® X was subsequently charged with violating Article 16 for dealing and negotiating with a party who had an exclusive relationship with another REALTOR®.

At the hearing, REALTOR® X defended her actions noting that she had told Buyer B that she was the sellers exclusive agent and, as such, would not and could not represent Buyer Bs interests. She pointed out that Buyer B had asked for her help in writing a purchase offer and had not sought the counsel and assistance of his exclusive representative. She concluded her defense noting that Standard of Practice 16-13 authorizes dealings with the client of another broker when those dealings are initiated by the client.

The Hearing Panel disagreed with REALTOR® Xs reasoning. They concluded that REALTOR® Xs inducement of Buyer B by emphasizing that the property might sell quickly (which might well have been true), coupled with her offer to prepare a purchase contract on Buyer Bs behalf, constituted an initiation of dealings on the property by REALTOR® X, not by Buyer B. As a result, REALTOR® X was found in violation of Article 16.

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Dual Commission Arrangements - Jun. 26, 2006

Feb. 10, 2006 - Case #3-8: REALTOR® Obligation to Disclose Dual Commission Arrangements

(Deleted Case #9-25 May, 1988. Revised and reinstated November, 1988 and subsequently revised May, 1989. Reaffirmed April, 1991. Transferred to Article 3 November, 1994. Revised November, 2001.)

 

REALTORS® A and B were members of the same Board and Participants in the Multiple Listing Service. REALTOR® A, cooperating with REALTOR® B on REALTOR® Bs listing, presented an offer to purchase signed by buyers offering the listed price, and a check for earnest money. The only contingency was a mortgage contingency, and REALTOR® A shared with REALTOR® B qualifying information about the buyers indicating there should be no problem securing a mortgage. The following day, REALTOR® B returned the offer to REALTOR® A with REJECTED written on it and initialed by the seller, and explained that the seller had accepted another offer secured by one of REALTOR® Bs sales associates. REALTOR® A inquired about the sellers reason for rejecting the full price offer with only a mortgage contingency, and what had caused the seller to accept the other offer. REALTOR® B responded that he did not know, but with equal offers, he supposed the seller would favor the offer secured by the listing broker.

Later, REALTOR® A met the seller at a social event. The seller thanked him for his efforts in connection with the recent sale of the sellers home. The seller hoped REALTOR® A understood there was nothing personal in his decision, adding that the money he saved through his special agreement with REALTOR® B had been the deciding factor. When REALTOR® A asked about the special agreement, the seller explained he had signed a listing agreement for the sale of his property which authorized the submission of the listing to the Multiple Listing Service and specified a certain amount of compensation. However, the seller stated that he had also signed an addendum to the listing agreement specifying that if REALTOR® B sold the listing through his own office, a percentage of the agreed compensation would be discounted to the sellers credit, resulting in a lower commission payable by the seller.

REALTOR® A filed a written complaint with the Board of REALTORS® against REALTOR® B, alleging a violation of Article 3. After its review of the complaint, the Grievance Committee requested that an ethics hearing be arranged.

REALTOR® A, in restating his complaint to the Hearing Panel, said that REALTOR® Bs failure to disclose the actual terms and conditions of the compensation offered through the Board MLS resulted in concealment and misrepresentation of pertinent facts to REALTOR® A and to the prospective buyers served by REALTOR® A who had, in good faith, offered to purchase the property at the listed price with only a mortgage contingency. REALTOR® A told the Hearing Panel that if he had known the facts which were not disclosed by REALTOR® B, he could have fully and accurately informed the buyers who could have taken those facts into consideration when making their offer. As it was, said REALTOR® A, the buyers acting in good faith were deceived by facts unknown to them because they were unknown to REALTOR® A. Further, REALTOR® A said that REALTOR® Bs failure to fully disclose the true terms and conditions relating to compensation made it impossible to have a responsible relationship with REALTOR® B and make proper value judgments as to accepting the offer of compensation.

REALTOR® B stated that it was his business what he charged and the Board or MLS could not regulate his charges for his services. If he wished to establish a dual commission charge by agreement with his client, that was his right, and there was no need or right of the Board or MLS to interfere.

The Hearing Panel agreed that it was REALTOR® Bs right to establish his fees and charges as he saw fit, and that the Board or MLS could not and would not interfere. However, the Hearing Panel noted that his complete freedom to establish charges for his services did not relieve him of his obligation to fully disclose the real terms and conditions of the compensation offered to the other Participants of the Multiple Listing Service, and did not justify his failure to disclose the dual commission arrangement. In the case of a dual commission arrangement, the listing broker must disclose not only the existence of the special arrangement but also must disclose, in response to an inquiry from a potential cooperating broker, the differential that would result in the total commission in a cooperative transaction. The Hearing Panel concluded that by submitting a listing to the MLS indicating that he was offering a certain amount of compensation to cooperating brokers while other relevant terms and conditions were not disclosed to the other MLS Participants, he had concealed and misrepresented real facts and was in violation of Article 3 of the Code of Ethics.

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Contact Information -

 

Contact Information:

Steve Casper, SRS, ABR

Comey and Shepherd, REALTORS®

1212 Springfield Pike

Cincinnati, OH   45215

Email:  Steve@SRSCouncil.com

Office:  513-761-7200

Cell:  513-604-7200

Fax:  513-679-2400

 

 

Adorna Occhialini Carroll

Cell:  860-983-1255

Email:  Adorna@SRSCouncil.com

Web1:  http://www.Adorna.com

 

Realty3 Carroll & Agostini / Valley Properties

Owner/Broker, ABR, ABRM, GRI, SRS, SRES, ePRO®

Toll Free:  800-562-7653 x 301

Office:  860-828-3230 x 301

Fax:  860-828-2442

Web2:  http://www.R3CA.com

 

Dynamic Directions, Inc

Educational & Sales Training Consultants

Owner/Partner

Toll Free:  800-331-0015

VMail:  860-524-3777

Web3:  http://www.DynamicDirections.com

 

 

Bruce H. Aydt, SRS, ABR, ABRM, CRB, ePRO®

2784 Samuel Drive

O'Fallon, MO   63368

Office:  636-733-5002

Fax:  314-754-9876

Email:  Bruce@SRSCouncil.com

Website:  www.BruceAydt.com

 

 

SRS Council, LLP

2784 Samuel Drive

O’Fallon, MO   63368

Email:  Questions@SRSCouncil.com

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About The SRS Authors - Jun. 26, 2006

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About the Authors

 
Home | Qualifying for the SRS Designation | What Students Say | Course Topics | Articles and Resources | Bruce Aydt's Ethics Columns | Calendar of Courses | About the Authors | Contact Us | Links

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Bruce H. Aydt

 

Bruce Aydt is simply one of the top real estate instructors in the country. As a lawyer and REALTOR® who has been in the real estate business for more than 25 years, he has the know-how and experience to bring meaning and life to classes that usually are the "tough" subjects. Bruce speaks on solid, business and legal topics that are the foundation of all good real estate practice - topics like risk management, agency, Code of Ethics, arbitration, procuring cause, contracts and agency. Bruce doesn't teach "fluff" - participants come away with solid, practical information that can literally save thousands of dollars in daily practice. His talent as an instructor keeps these topics lively and of interest to his participants.  He is a nationally recognized educator on real estate issues, speaking at state conventions and the NAR Convention on several occasions.  He is the monthly columnist on ethics issues for REALTOR® Magazine and is the author of Missouri Real Estate Basics.  He has been named Educator of the Year by both the National Association of REALTORSâ and the Missouri Association of REALTORSâ.  Bruce lives in St. Louis, Missouri with his wife, Lisa and has two children, Erin and Jamie.

 

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Adorna O. Carroll

 

Adorna Carroll is the Owner/Partner of Realty 3 Carroll & Agostini in Berlin, Connecticut.  Along with her Licensed Personal Assistant, she continues to represent Buyers and Sellers on a daily basis and has been an annual Multi-Million Dollar producer since 1989.

 

She and her partner, Barbara Fairfield, own Dynamic Directions, Inc. an educational and sales training consulting firm.  In addition to being a National speaker and Sales Trainer in the area of Association Leadership Training, Strategic & Business Planning, Agency Relationships and Buyer Representation, Adorna was honored as Connecticut’s Educator of the Year for 1999 and has been named to the Real Estate Buyer’s Agent Council (REBAC’s) Hall of Fame.

 

In 1997 she completed her term as the State President for the Connecticut Association of REALTORS®, continues to serve as a National Director, was the 2001 Region 1 Vice President for the NAR, the 2002 NAR Liaison to State and Local Association Leadership Groups, the 2003 NAR Liaison to the Information, Communication and Education Groups, a 2004 NAR RPAC Trustee, the 2005 Vice-President and Liaison to Committees for the National Association of REALTORS® and is currently NAR's 2006 Political Fundraiser.

 

Adorna has a Bachelor of Arts Degree in Philosophy and has been awarded five Who’s Who awards beginning with “Who’s Who of American Women”, “Who’s Who of Finance and Industry”, “Who’s Who of Emerging Leaders”, “Who’s Who in the East” and recently “Who’s Who in America.

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Stephen R. Casper

 

Steve Casper is Owner/Manager of the Wyoming Office of Comey and Shepherd, REALTORS®, the oldest independent brokerage in Cincinnati.  Steve has been a REALTOR® since 1971 specializing in residential estate.  He is involved in the day to day representation of sellers and buyers as a manager and salesperson.

 

At the national level, Steve was recently awarded the prestigious Distinguished Service Award (DSA) and has had the privilege of chairing over 10 committees and forums including Multiple Listing Policy Committee and Professional Standards Committee.  In addition, he has been committee liaison to the Policy division and RVP for Region 6 (Michigan and Ohio).  He has been a director since 1983.  He continues to serve on the advisory council of REBAC since 1991 and was honored as REBAC Person of the Year and is a member of the REBAC Hall of Fame.

 

Steve has served as President of the Cincinnati Area Board of Realtors and the Ohio Association of Realtors and was honored as REALTOR® of the Year by both organizations.

 

Steve has a Bachelor of Science degree in Marketing from Bowling Green State University and is married to Bonnie, who is also active in real estate as Vice President of Relocation for Comey and Shepherd. They have two daughters, who are married and have one grandson.

Seller Representative Specialist * SRS Council, LLP * 2784 Samuel Drive * O'Fallon, MO 63368

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