The way the real estate market functions has changed dramatically in the past 3-5 years. According to the National Association of Realtors (NAR), 74% of home buyers use the Internet for research. In California, 97% use the Internet to help them better understand the home-buying process.  Almost all listings are posted on the internet for buyers to view prior to ever stepping into your home.

     Along with the change has come a change in the way real estate agents do their business. Buyers no longer have to come to an agent to find out what is available for sale in any area. But the transactions themselves have become much more complex. As a buyer or seller, the selection of a real estate agent becomes of paramount importance.

Sellers:

     In order to maximize the proceeds from your sale, you must select an agent who is technically proficient. That agent must be thoroughly comfortable with email and other forms of electronic communication. And your agent must have an integrated marketing plan, which at least as much emphasis on internet marketing as on traditional marketing.

    Do not settle for "yes, your listing will appear on the following websites...." Be sure you know which websites they will be. Be sure they will add extra photos and video tours. Ask what additional web marketing tools they will provide to make your house stand out above the others. These extras might include "Featured Homes" slots on the front page of major websites such as www.Realtor.com , an entire website dedicated to just your listing with your home's address for the URL, for example. Featured homes spots are very expensive and there are only a few (usually 16) available for any given area. Agents purchase these slots for a year at a time and nobody else can use them. So this is an extra added feature that will give your listing more exposure.

     That is not to say that technical proficiency in itself will guarantee results. There is no question that buying or selling a home is an emotional experience for most people, and personal contact and empathy from an experienced agent are important. However those alone are no longer enough. Ask for a REALTOR e-PRO®. REALTOR e-PRO® is a revolutionary training program presented entirely online to certify real estate agents and brokers as Internet Professionals.  

     Becoming an ePro requires completion of an intensive, on line educational course, participation in Listserves, assignments, and more. For more information on the REALTOR e-PRO certification, visit the www.NationalAssociationofRealtors.org website.

Buyers:

     Internet competence is also a huge asset for a buyer's agent. besides the obvious convenience of being able to corresponce via email, an ePro agent will be able to feed listings on an ongoing basis to buyers as they become available, email transaction documents to buyers who may be unavailable to come into the office, and more.

     If you have questions about any of the above, please contact me via email to Lmercer@Lmercer.com, and visit my website at www.Lmercer.com to views my designations and qualifications.

(c) 2006 by Lynne Mercer

All Rights Reserved

Home Buyer & Seller Survey Shows Rising Use of Internet, Reliance on Agents WASHINGTON (January 17, 2006) – Technology is transforming how Americans buy and sell homes in unexpected ways, including how they work with real estate agents and brokers, according to one of the largest surveys of real estate consumers ever conducted. The study was released today by the National Association of Realtors®. Nine out of 10 home buyers use a real estate agent in the search process, but use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005; it was 74 percent in 2004. The next largest source of information for buyers is a yard sign, mentioned by 71 percent of buyers. When asked where they first learned about the home purchased, 24 percent of buyers identified the Internet, up strongly from 15 percent in 2004 and only 2 percent in 1997. Although most buyers use an agent to complete the transaction, 36 first learn about the home they buy from a real estate agent and 15 percent from yard signs; five other categories were 7 percent or less. The 2005 National Association of Realtors® Profile of Home Buyers and Sellers, based on more than 7,800 responses to a questionnaire mailed to a large national sample of consumers located through county deed records, is the latest in a series of surveys evaluating demographics, marketing and other characteristics of home buyers and sellers. NAR President Thomas M. Stevens from Vienna, Va., said the findings underscore the complexity of the home-buying process. Buyers who use the Internet in searching for a home are more likely to use a real estate agent than non-Internet users, and consumers rely on professionals to provide context, negotiate the transaction and help with the paperwork, said Stevens, senior vice president of NRT Inc. The real estate industry today bears little resemblance to the way we did business 10 years ago. It is hard to find another industry that has adopted technology so readily to its customers, Stevens said. Realtors® have invested a lot of time and money in building information technology, and because of these efforts, more consumers than ever are using the Internet in their home search. The survey shows 81 percent of buyers who use the Internet to search for a home purchase through a real estate agent, while 63 percent of non-Internet users buy through an agent; non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction. For complete article go to http://www.realtor.org/publicaffairsweb.nsf/pages/hmbuyersellersurvey06

 This is one of my fun real estate stories. I was thrilled a couple of years ago when one of my clients gave me a Jacuzzi. She had twin boys, about 18 months old, and was concerned about safety issues. I, of course, insisted on paying for it but she would have none of it, so eventually I conceded and ended up with a Jacuzzi on my back patio. That was the start of it all.

Anxious to get it hooked up, I consulted with an electrician who promptly informed me we would have to upgrade our electrical service before he could install the Jacuzzi. That was OK. We had an older home and an electrical upgrade would almost certainly be a good selling point if we ever did decide to sell it.

While we were waiting for the electrician to finish the job, we started visiting Spa stores. We made a lot of amazing discoveries, like the importance of having a good, solid pad for the Jacuzzi to sit on, and the possibility of having it surrounded by a large gazebo, large enough, that is, to house all of our exercising equipment. Of course, my husband would settle for nothing less.

This presented a problem, as it would mean the Jacuzzi would have to go on the opposite side of the house to where I had planned… the side with no access, rather than walking almost entirely around the house to get there. I questioned the wisdom of this, but hubby assured me that would not be a problem. Working out would be such fun that he would make the walk, rain or shine, even after dark in the winter. And so we proceeded.

I am not one to say I told you so, but as I predicted the Jacuzzi was rarely used and there was only one solution. Knock a door through the wall on that side of the house to make access easier. So, we got the permit, hired a contractor to install the door, the landing porch, the exterior light, and everything else that was required to comply with the building codes and get our permit finaled.  And finally it was done! We had our beautiful glass door, our beautiful gazebo, filled with exercise equipment and the Jacuzzi.

But there was only one problem. We had never used that side of our property. In the interests of conserving water and also our own energy in terms of maintenance, we had fenced off that part of the yard and left it fallow. Once a year we would hire somebody to cut down the weeds and rototill it. But now that we had this fancy new door and this fancy new gazebo, we really needed to landscape that part of the yard and integrate it into the rest of the setting. And so we did it.

But there was only one more problem. Hubby still refused to use the gazebo, much less the Jacuzzi. After much probing it became obvious. We needed a TV in the gazebo, with a satellite feed. Then he could watch all of his favorite sports events while working out in our fancy new home gymnasium. So, for Christmas I bought him one of those fancy new TV to go wireless televisions. And he bought himself a membership in one of the local fitness clubs.

Ah well, about $20,000 later our free Jacuzzi all set up and ready to go. If and when we ever do sell the house, I am sure the new owners will just love it!!

©2006 Lynne Mercer

     As a local real estate agent with over 20 years of experience, I have had my share of interesting, exciting, and satisfying transactions. One of my favorites, however, occurred early in my career.

    I started selling homes in Palo Alto and the surrounding communities in the early 1980's. Those of you who were around back them will probably remember that interest rates had skyrocketed, to as high as 18 or 19% for a first mortgage. That made selling real estate more than a little challenging, and homes tended to stay on the market a long, long time.

     I was sitting on an open home one Sunday afternoon when a young couple came by. They were looking for a home in Palo Alto. With four school aged children, they were especially interested in moving into a community with good schools, and Palo Alto was "it".

     There was only one problem: They had essentially no savings! They had met a number of agents at other open homes who had told them it was hopeless, but I was young and naive, and eager for business, so I told them I would work with them. And there was one thing in our favor: Creative financing was in. So, we calculated what they might be able to afford, looked at the few homes in Palo Alto they could qualify for, and they chose one. This home was an Eichler, in pretty rough condition and owned by a crusty old investor. But it had been on the market for months and I had a genuinely interested buyer.

     I wont bore the readers with all the details, but after several weeks of negotiating, we had a deal and I had two very happy clients. The house was barely habitable, but they had a vision and I am happy to report they are still in that same house. It has been completely remodeled (but maintaining the original Eichler character) and we have become close friends as well. Now that is why I love to sell real estate!