Technology and real estate. 
"Back in the day" I started in real estate (less than 15 years ago), the MLS system we used was still in DOS mode and only covered the real estate board of which we were members. 
How far we have come.  As discussed yesterday, when I did it again. 
I opened up the Sunday Boston Globe and took the chance of glancing at the front page of the real estate section.   I know ... two weeks in a row.  What was I thinking? 
A brief perusal of the headline did not make me shut the paper and put it in the pile that we use to start our fireplace with!  Immediately, I thought we were off to a good start.  It was a very good article about the use of technology in real estate. 

I blog, so I guess that a pretty good indicator that I embrace technology. 
Since I fall more into the category of the median age of the Realtor® than the median age of the buyer, the learning curve on the technology trends tends to be a little more steep for me. 
However, I am always on the lookout for the new "hot" trend and then find out the "how's and why's" of learning it. 
I got some good information from this article and even more from the posts that followed.
It's important for me as a listing agent to have all the tools that enables my client's property to be exposed to the greatest number of potential buyers. 
It's important as a buyer's agent for the buyer to feel comfortable with an agent who is communicating in the same "speak" as they are.  
As stated in the article, the needs of the median age buyer are different than the older buyer or any age of the seller.  I have not survived this wild real estate market by not providing the services my clients need and want, whatever generation they belong to. 

Another benefit for both buyers and sellers is to choose an agent with the ability to consult with them and offer options and payment methods they are not getting from many other agents. 
From a previous post, you may remember that I am an 
In the consulting model, buyers and sellers alike can pick and choose the services they want and need and save thousands of dollars by paying for only the package they put together. 

Will I date myself too much by saying "I remember when" no one wanted the MLS to be available to the public?  The sky was going to fall because the consumers would have all our information and wouldn't need us (Realtors®) anymore.  Nothing could be further from the truth.  The value of a Realtor® proved to be far more relevant than prices and addresses.   

I just returned from spending 2 glorious days of R&R in Newport, Rhode Island with a few friends.  What a great time of year.  The trees and flowers were in bloom and budding and the weather was spectacular.   It did not feel like mid-April, and it was a wonderful change of pace.  Ocean Drive was beautiful, The Inn at Castle Hill provided an unforgettable setting for cocktails on the lawn at sunset, the food at Scales and Shells and
The Rhode Island Quahog Company, as always, was amazing, and the company was superb.  WOW!!  It was a taste of the good times to come this spring and summer. 
     There is a sense of rebirth in the air in the spring real estate market, causing a nice change of pace there too.  The media is continuing to strike a more positive chord (albeit occasional) in reporting about the market. 
    Buyers right now have an incredible opportunity and the reason lies in a previous post of mine.  The cut in interest rates that is being reported is not reaching the purchase market.  The rates for mortgages are vacillating, but the prediction is that the overall trend will be to rise.  So, while prices may continue to fall a little more before stabilizing (and then begin the upward rise), the impact of 1/2-1% increase in the interest rate will end up costing the buyer's monthly mortgage payment to be higher in the long run. 
     Many local communities are seeing enough inventory to last 9-12 months, and sellers are being negotiable. 
     Buyers are definitely out buying and in some cases competing with multiple offers on the right property.  In a spring market with so many buyers looking, a house that has been on the market for 6 months may lead buyers to think they have ample time to  see "how low it will go" only to have it snatched away from them.  
New concerns for sellers are being fueled by daily reporting about the increasingly stringent lending standards.  One tool the buyer can put into their tool belt to give them a competitive edge is to have an approval subject to appraisal ready and waiting.  This strategy alone can compel a seller to possibly consider a lower offer (especially if they are reviewing more than one offer).     

I did something yesterday that I have been shying away from recently ... I read The Big Move , which is the title of yesterday's Boston Globe Real Estate section.  Sometimes I feel the need to torture myself, and fill my head with even more negative news about my industry. 

Of course, there is more than enough (bad news)to go around.  I'm not an ostrich, although, there are days I feel that if I read one more thing that tells me the sky is falling, burying my head in the sand and staying there looks really good.  So, I have made a conscious effort to discriminate about what I read in order to fill my head with positive images and thoughts.   

Why I took the risk yesterday is just one of those things that cannot be explained.  And I got a pleasant surprise.  The "R" word was mentioned fewer times than I have fingers on one hand, there was a sense of optimism in the several articles and some good solid advice for both sellers and buyers. 
It was, in my opinion, a real turn in the tide of the "gloom and doom" we have been assulted with for more than just a couple of years.  You can read them for yourself.  A few had a focus on sellers , another few with a focus for buyers , and gave some really good advice. 

So, no, it's not a great time to sell.  Yes, it's a pretty great time to buy, especially as a first time homebuyer.  The 2 are never going to align to be good at the same time.  Kind of like the World Series ... there is a winner and a loser and never both at the same time.  There are good strategies for both, and from my perspective, that is good enough reason to begin reading about the real estate marekt again!

In the waning days of 2007 and these first few weeks of 2008, there appears to be a growing number of buyers in today's market who seem to be making contact directly with listing agents of properties, and disclosing that they do not have buyer representation.  I have spoken to some of my colleagues and friends and am hearing the same thing from many of them. 
Interesting. 

Why is that? 

With all the information available today, why would a buyer knowingly not want someone to represent their best interests?  Perhaps, they are not making this decision "knowingly".  Are we as a real estate community not doing a good enough job of educating buyers to their rights?  I don't think that is the reason for this particular path buyers seem to be taking. 

Buyers are being inundated daily with many conflicting messages from the media. 
My theory is that the buyers are under the impression that they will get the best deal by dealing directly with the listing agent of the property.  After all, there is no lack of information for the buyer to come to their own conclusions about the price they should be paying.  And the attitude seems to be that if this one doesn't work out, they will go on to the next.  My own conversations with a few website visitors have said exactly that.  The information they are being bombarded with in the media creates this illusion.  

Buyers seem to believe that they have to make a choice between with getting the best price and being represented by a buyer's agent in the transaction. 

So, buyers ... In the purchase of your biggest investment, pre-planning and taking the time for this next step will produce a big pay off for you in the long run. 
Interviewing a few agents (2 or 3 is a good number) about their experience and expertise in the area you are looking, their buyer agency credentials, and what services they bring to the table for you is a good use of time in the long run.  The best way to come up with a list of buyer's agents to begin interviewing is ask your friends, co-workers and family members who they used, what their experience was and would they use that buyer's agent again.  "Why" or "why not" should be the next question to follow. 

Then, do some homework prior to your interviews so you will be prepared with a list of questions.  Ask the same questions of all the buyer's agents you interview. 
Ultimately, you will most likely have a "gut" reaction to someone who you feel strongly about, either positive or negative. 
After taking this step, if you still believe you have to make the choice between getting a good deal and being represented, (and just to re-iterate ... you don't!) ask some very specific questions of the listing agent.  What is their role?  What does it mean for you?  What can you expect?  What are your rights? 

You have to be even more informed and diligent if this is the route you believe you decide to take.