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Melanie's World

Jersey Shore, Pennsylvania

I will share my views and experiences on key real estate industry topics - agency, appraisal, and ethics. I welcome your comments.

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Melanie's World

New Year's Resolutions

Dec. 29, 2007
Categorized in: Brokerage and Agency

It's the end of December, so it is resolution time. As I ponder my personal list, which includes finishing my book, doing more convention speaking, blogging more often, and reading at least one business book a month, I find myself wishing I was in charge of other people's resolutions. Call me cranky; maybe it's because my birthday falls in early January and as a Boomer, I'm now on the other side of fifty. But, if I were in charge of other people's resolutions, here's what I'd resolve:

That people with cell phones use them judiciously, not in public rest rooms, not at the top of their lungs, and that when I'm in earshot they would avoid personal topics, including (listen up, Realtors!) putting together deals with financial and other personal data.

That the various real estate commissions and agencies which approve real estate education, both online and live, would resolve to make the process quicker, easier and friendlier for course writers.

That the next time I attend a wedding, bar mitvah, college reunion, or other event where I would enjoy talking to the other attendees, that the band would resolve to keep the decibels somewhere low enough to allow this.

That just once in awhile, a Realtor asking about a topic would resolve to not say: "But do we get CE credit for this?" Some things are just worth learning, regardless of CE.

That the airlines would resolve to be honest with passengers about delays and cancellations, and not string hapless passengers along for hours, until finally shuffling us all off to indescribable hotels (and I do mean indescribable!)

That the Appraisal Institute would resolve to make its peace with NAR, and rejoin the Realtor Family. Appraisers need the political muscle NAR can provide, and I'm afraid appraisers may be set up to take some of the grief from the mortgage debacle playing out.

That real estate agents would resolve to understand and practice agency--on both sides--buyer and seller. If you don't get it, take ABR and SRS--and get it!

That politicians would resolve to stop their posturing, finger-pointing, name calling and blaming and actually solve some problems.

As you can see, I've now ventured into Fantasy Island! Happy New Year to all and good luck with your resolutions--whatever they may be!

 

Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRS, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com

Triple Play in Atlantic City

Dec. 5, 2007
Categorized in: Brokerage and Agency

It's early December, so we're back at Triple Play, the New York-New Jersey-Pennsylvania Convention, held the first week of December every year in Atlantic City. It's 'old home' week for trainers; even though many of us saw each other just before Thanksgiving in Las Vegas for the NAR conference. What seems to be on agents' minds? Well, I had over 500 students show up for my session: "Flips, Frauds and Foreclosures". The state of the lending side of the industry, as well as the fall out from the sub-prime loans, is on everyone's mind. Lots of agents seemed to be interested in technology courses and how to integrate technology into their businesses. The trade show floor was about the same as last year, but the number of lenders seemed lower. Many Realtors® I talked to anticipate agents leaving the business by the end of the year. One AE I spoke to has prepared her Board of Directors for a loss of 10% to 15% of their members. I spent some time with Dawn Headtke at the ABR booth, and Steve Caspar at the SRS booth. Both courses are in my top five of faves to teach. There's never been a greater need for agents who understand their fiduciary and statutory duties to their clients; and it seems like there's never been as many blatant examples of agents who just don't get it. In my home state of Pennsylvania, we're in a CE cycle for agents; they renew their licenses by the end of May, 2008. I'm hoping that those agents spend their time wisely, taking courses that will be a double or triple hit--CE, designation credit, broker credit, or an elective towards a designation. For those who like education while wearing their jammies, let me remind you that e-PRO will be totally revised come the first of the year. Remember, I'm an e-PRO trainer; contact me for a discount--it is approved for CE in Pennsylvania. I had lunch with my friend and colleague Amy Chorew; we hope to wrap up our re-write of the eBuyer course for REBAC by the end of this year. This convention is my next-to-last educational 'gig' this year; my December is very busy with my son's college graduation this month. Wishing all a wonderful Chanukah, Merry Christmas, Happy Kwanza, and a successful and Happy New Year.

Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com

Same Old, Same Old Doesn't Cut It

Nov. 23, 2007
Categorized in: Brokerage and Agency
Tagged with: agency, consumer, marketing, selling

I've been watching, bemused, as a consumer and a real estate agent dance to the same old steps of real estate, only without figuring out that the music has changed. The consumer is someone I know, who knows I'm a real estate educator. He is probably more candid than he should be with me. For instance, he freely admitted his opening list price was aspirational (my word, his meaning). He insisted on a short listing with the agent, and that more commission should go to the buyer's agent. A good thought, but the bonus is tied to a certain price, at a certain time. Supposedly, if he gets less, or later, no bonus. He also has a set up where his listing agent has to be present for all showings. In less than two weeks, he has already reduced the price. The steps are old. Real estate in today's market means listing it at the right price to start with. If the seller wants to take some money off, there are at least three better ways (that I can think of) to spend the money than just a reduction. One would be to buy down the interest rate, a second would be to pay some closing costs for the buyer, and a third (since this is a move-up house) would be to offer to pay the buyer's existing mortgage payments for 3-6 months. Alas, he isn't doing any of this, and neither is his agent. There is an eighteen month supply in this market for homes in this price range; why make it any more difficult for a buyer's agent to show the house ("Listing agent must be present for all showings") Then there's the term on the listing--90 days, per the owner, starting in November. In North Central PA, November begins the slowest three months in the real estate business. Yet, he and the agent are engaged in old dance steps---ones that probably won't get them to closing. The agent is letting the consumer call all the shots; and they are pretty much bad ones. The consumer, who purports to want his house sold, is insisting that the agent do it 'his way'. Same old, same old doesn't work anymore. Successful agents have a marketing plan, and they don't take listings if the sellers don't understand the difference between selling a house and marketing it. Successful agents also know that they are successful because they know what they are doing--and if someone asks them to dance this number, they just sit it out.

Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com

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