It's Friday night. If you're anything like me, Friday Nights are nights when you let down your hair and relax a little...perhaps dinner, a movie, or a show.  This past Friday is no exception.  We've still got a teenager at home who doesn't drive, so Friday night involves playing part-time taxicab driver too. 

As we're preparing to go out, I notice that he's busy at the computer.  I'm a "quasi hip" mom, so I presume he's checking out Facebook to see where everyone will be hanging out.  Imagine my surprise when he tells me he's downloading music because he's going to be the DJ!  I can barely contain my surprise..."You're downloading music for the dance onto your iPod?"  He barely gives me a sideways glance...continues tapping the keyboard and says..."Ya."

Now, you've got to understand, I can still remember the days of vinyl records.  The DJ's table was exactly that...a sturdy looking structure with various turntables, speakers, gadgets and microphones.  By the time things went totally digital...I'd started having kids and sleep was far more important than dancing into the wee hours of the night. So...for the me the trajectory was turntables, to CD's and then things dropped off.

Until they resumed this Friday night with my iPod DJ downloading songs for the party at school onto  a device that fit neatly into his back pocket.  I asked him how they would hear the songs.  He replied in mock disbelief.."We'll hook the iPod up to the speakers and if they don't like my selections, we'll hook up someone elses."  Wow...talk about feeling old fashioned! This type of DJ experience is not even on my radar...

So, it seems that while I have been sleeping, the world of dance music and entertainment has become much more portable.  Music travels hipster style to where the party is...not the other way.  It's a fluid movement of exchange and interaction which allows anyone with the right mix at the moment to step up to the turntable, hook in and share what they've got playing on their iPod.

It occurs to me that in a sense, this is not unlike what is happening in the real estate industry today.  The conversation online about real estate moves with fluid grace and sometimes jolting jerks...either way, it's a continuum of moving parts which includes websites, news feeds, blogs, video casts, podcasts, social networks and the mainstay of the real estate genre...MLS systems. 

Today, real estate buyers are surfing for the hottest offerings online.  The average buyer is visiting numerous websites to sample what's out there. 

Recently, I looked up a certain price range for homes in our local area online.  The results were interesting.  In the top 8 Search Results, the number of listings in "a particular search area" ranged from 1 home  to 32!  No wonder buyers feel they must look at all options...landing on the wrong site means that you may not be seeing 90% of what's available for Sale. 

That's one reason why connecting with a good real estate who is pluged in to one or more MLS systems as well as many of the other frequently visited sites which feature Homes for Sale is so critically important.  This is a partnership...a dance which requires coordination and synergy.  As a home buyer, you should move in perfect sync by:

1.  Clearly thinking and writing down what you would like to find in a home

2.  Choosing a real estate agent to assist you...preferably one who is connected online

3.  Link up with a good mortgage specialist to make sure your finances are in order

4.  Create your own Playlist...Surf online, take virtual tours, research various blogs and sites

5.  Be prepared to sync up with your agent on a regular basis, learn from them and create winning solutions.

What's wonderful about this new emerging conversation is that it is so portable.  You can find listings everywhere.  You can download them to a number of devices.  You can search for homes by Street Name through the  Search Engines.  Don't snooze now or you loose.  The best deals won't wait...they'll just twirl around to the next available player!

Vector photo courtesy of Sabrina Campagna's photostream on flickr.com

Dance photo courtesy of firutin's photostream on flickr.com

Copyright 2008  Audu Real Estate  All Rights Reserved

EXCITING NEWS!

The State of Michigan has recently approved TWO NEW COURSES ON BLOGGING & WEB 2.0 TECHNOLOGY for Continuing Education Credit for Real Estate Professionals!  These ground-breaking courses are designed to give real estate professionals the vital information they will need to participate responsibly in a Web 2.0 Connected environment.

Technology has transformed many essential elements of the real estate process.  Today, new and experienced agents find that they need to understand the dyanmics of the online community or risk being marginalized. 

This coursework will not only provide a comprehensive overview of Web 2.0 in today's marketplace but will also touch on important topics that have significant legal implications for professionals who engage in online transactions.

DATES:  MAY 21 & MAY 28, 2008

TIME:   8:00 A.M. ~ 12:30 A.M.  Registration begins at 7:30 A.M. & Class will commence promptly at 8:00 A.M.

PLACE:  Grand Rapids Association of Realtors (GRAR)  660 Kenmoore SE, Grand Rapids, MI  49546

Course ID# K355-1061  Blogging Basics For Real Estate Professionals

Course ID# K355-1062  Blogging Ethics For Real Estate Professionals

Sponsor ID# K355 Audu Real Estate

*PLEASE NOTE: to obtain State Continuing Education credit, participants must attend the entire session. Students arriving more than 15 minutes after the start of the class will not receive credit. A 15 minute make-up session will be available at the end of the second class.  Please be sure to bring your Driver's license and State ID/Pocket Card for Identification.  Registration is not confirmed until payment is received.  Please e-mail laudu@grar.com or call 616-791-0511 with any questions.

Topics that will be covered include:

*Blogging & Marketing Your Skills in A Web 2.0 Connected World

*Connecting with the Online Consumer

*Keeping Your Blog out of Legal Trouble

*Protecting your Content

*Ethical Issues including Fair Housing & Discrimination

Light Refreshments will be Served

Both Courses are approved for 2 hours each of Continuing Education Credit for a total of 4 hours!

Registration is required.  Walk-Ins will be seated as space permits.  Don't miss this Great Opportunity to learn more about how to move your business Forward with technology through this Practical Continuing Education Course Offering!

Click the link to Download a Printer Friendly Version of the Registration form.  Make sure you check the HTML printer friendly option.  The Registration can be faxed to:  616-791-0511 or e-mailed to laudu@grar.com.  Payment must be received for registration to be confirmed.

Trying to sell a home in Grand Rapids, Michigan has not been easy for the past few years due to the crisis in the manufacturing sector, the mortgage industry implosion and the glut of homes which deluged the market within the past 24 months. 

Selling a home without help as an Unrepresented Seller presents some additional challenges.  In a conversation with an experienced mortgage broker, this past week, I was surprised to learn about some unique criteria which are now pre-requisites for homeowners who are selling their own homes.

According to this source, she indicated that many area lenders are now requiring at least 2 appraisals on any home purchased directly from a home owner.  This additional expense is due to the fact that much of West Michigan is now considered a Declining Market. 

Thus homes sold by Unrepresented Homeowners aka FSBO's are scrutinized more closely because they represent a higher risk to investors. This is also why title/escrow costs are often higher for Unrepresented Sellers.

The designation of Declining Market has two significant implications for all home owners in West Michigan.  First of all, many lenders are looking more closely at ANY HOME which has been on the market for over 6 months even if the location has not been designated a Declining Market.  If a home has been on the market for some time, (in West Michigan, our average was between 9-11 months in many areas) the lender may require that the buyer put a deposit of 5% or more down for a mortgage. Unfortunately, many buyers today are unprepared or unable to come up with additional funds.

In addition, areas which have been designated as Declining Markets may experience this added burden on ALL HOMES regardless of how long they have been listed.  This contributes negative leverage to the drag that Foreclosures and Short Sales have already had on home values.

There are some lending options which may diminish the impact of these additional fees and these should be explored with an experienced lender PRIOR to placing a home on the market.  The government programs such as the FHA have really been much needed source of stability in these times. Now, more than ever...it's important to have a Strategy in place to Sell your Home.  Unfortunately, today...simply getting a Buyer to sign a purchase agreement will NOT guarantee you a seat at the Closing table.

If you'd like a referral to a highly qualified lender or need to discuss some options to successfully market and sell your home, please contact Audu Real Estate.  We are available to discuss the current Market Conditions in your specific neighborhood in the comfort and convenience of your home.

Copyright 2008 Audu Real Estate All Right Reserved

The more things change...the more things stay the same. When I started my professional career as a real estate agent almost 13 years ago, there were certain things we had to get permission to do when we listed a home.

These included: obtaining written consent to place a sign in the yard and a keybox on the door. The listing agreement also indicated that we had permission to market their property and advertise. There was no mention of advertising on electronic media. Nor were there disclosures required for the condition of the property or lead based paint. Index cards with listing data were still being delivered to real estate offices everyday.

Today, we have to get permission for a lot more than we did back then. Today, the seller agrees to allow us to advertise their property on electronic mediums including video and still media and other forms of media (not specifically designated) Today, the seller has an advanced electronic gadget on their door which allows remote programmed access to agents and special codes for contract workers; a system which is digitally monitored 24/7.

Yet, Home owners have given agents much greater latitude in the marketing of their homes even as the potential exposure for a home listing has increased exponentially. Herein lies an interesting issue. I wonder if such broad levels of permission are inherently in the best interest of all concerned.

Property Mapping:

Take for instance, the issue of property mapping. The google mapping system and others such as maps.live.com provide extremely realistic 3 Dimensional renditions of property in most localities within the United States. In some of these programs, the home can be manipulated on the screen and seen in detail from just about every conceivable angle. Here's my question. When a homeowner allows us to portray their home on any website, are they giving us implicit permission to display every angle and street view of their home to an unscreened populace which may contain those with malevolent intentions?

Social Media:

The same issues could be raised with regard to some forms of social media. Is it conceivable that the owner of a luxury executive home may not really intend that his home be purposely purveyed for the viewing pleaure of mostly teenagers and college students on Facebook who are largely unlikely to be part of the audience who will be able to afford to purchase his home listing?

There are so many new options exploding on to the market everyday, that right now the instinctive response is simply to try something and see if there are results. Some of this is fueled by an anxiety hidden underneath the cloak of the dreaded consequence of irrelevance if one misses the next new thing or important cue. But, we may be creating a potential minefield of unintended consequences if we are not careful to explain to our clients exactly how we intend to market their homes and YES...perhaps begin to consider asking for permission in a more specific manner. For their own protection as well as our own.

SECRET ENGAGMENTS:

Marketing a home for sale should not be a "Secret Engagement"...an exercise carried out apart from the informed consent of your client. Do you have a list which details what you will be using as a keybox and explain which websites you will be utilising and where pictures of their home will be viewable? Have you discussed the potential benefits and drawbacks of whatever marketing program you choose to employ? If you will be linking to a map...do they know how their home and neighborhood can be accessed and viewed?

Frankly, the reality is that this is no longer necessarily within our control as agents. Because listings are often exported by MLS systems through Broker Reciprocity to other channels which may mash-up the data in ways that are very different than the initial listing data, brokers may not even necessarily know everything which is done with the data they have collected from the homeowner.

RISK LADEN PROPOSITION:

Does this seem to be a risk laden process to you? May we be inadvertently giving our clients much more than they bargained for? Are Brokers taking listing information and assuming responsibility for a process which in all practical aspects they do not really control? I know this is a burning question being debated by MLS systems throughout the nation. I'm interested in hearing your thoughts and if you are doing anything to limit risk & liability with regards to your disclosures and seller acknowledgments in these areas of potential concern.

photo courtesty of: Dave-F's photostream on flickr.com

Copyright 2008 Audu Real Estate All Rights Reserved