Farmington Hills Real Estate and Events talk Michigan

Another blog that inspired me

Wed, 10 Mar 2010 08:09:07 -0600

I read Bill Cherry's blog about THE WHITE LIE -- EXACTLY WHAT'S THE DIFFERENCE FROM A REGULAR LIE?

As real estate agents it happens all the time. People do want free values. I had somebody ask for it on my website two days ago. I looked up the house and found out they had just bought the foreclosure. I'm sure they just wanted to affirm that they got a "deal". What they didn't realize is that it takes time to do a CMA, and to get a good true value.

But the one that gets me more is when clients use multiple real estate agents and we don't know about it. I am busy enough in life without competing unknowingly. I myself would rather spend time with my family. I would rather spend time with a client that is working exclusively with me. I don't go and tell another client about a great deal when one of my clients puts in an offer on a home. It's not ethical. I am working for that client. I work exclusively for that client and don't work against them.

I just expect the same thing. But once in a great while a client works with multiple agents. I have had them sign exclusive buyer agency contracts and then expect to be let out of the contract. I put my full energy and time into finding a client a home that fits their needs. I am willing to spend my gas, and put miles on my car in the hopes of helping them find a home.

Sometimes there are personality or time conflicts and I have no issues with us going separate ways. But I don't want to be "used". I don't want to be lied to. I don't want to find out after 3 months and seeing 25 houses that you found a house with another agent. If you want to use multiple real estate agents just be sure to let the agents know. Let the agent make the decision if they are willing to work that way.

I myself would rather spend time with my family, or with another client than do that. But each agent can make their own choice. Just don't be like the client last year that wasted my time. He would always be late. He was using multiple agents and never told me. Then he sent me this lengthy email (big lie) telling me that he was putting his search on hold. I later found out it was a lie and that he had put in an offer on a home with another agent. I think his line to me is that they were try to find the best opportunity for them

They were users. They didn't care about others people time or money invested. It was all about them. I don't want to work with people like that. I don't have time in my life for users and inconsiderate people. There are too many great people out there. I closed over fifty homes last year and I can say those clients were the salt of the earth. They were good people. I had one bad apple out of a lot of great, kind clients.

I guess I was very lucky! At fifty years old and a wife with cancer I have taken a different view on life. Life is too short to deal with jerks, users, or people that are inconsiderate. There are thousands of good clients, nice people that are honest and considerate. I'll keep working with them and leave the "others" to somebody else.

Just my take on things......

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May 2010 be one of the best years of your life!

*ACTION*	*TIMELINE*
Offer is submitted to listing agent
Counter offer/ acceptance of offer	Sometimes you hear back from the seller in hours, other times it is days. Patience is the key here. But you want to respond back quickly if you want the house. Usually you want to keep the negotiation going quickly and smoothly. Sitting back and thinking about the counter offer can sometimes sink the negotiations.
Start mortgage	Same day you get acceptance of the offer - you should have all your documents ready prior to submitting your offer to the seller
Set up inspection	Same day you get acceptance of the offer - must be done within 7 days of signing by seller. Delaying the inspection delays the appraisal, which then in turn delays the mortgage. Get the inspection done as quickly as possible, because if there are issues and negotiations needed it could slow everything up by a week or more.
Get utilities turned on	Call utilities to turn on for inspection and appraisal. A FHA appraisal requires the furnace and the hot water to be working.
Inspection	Within 7 days of signing by seller and bottom line or within the guidelines of the contract.
Inspection results	You have 2 days of the inspection to put in writing what is wrong, what you want fixed, or whether you want out of the contract.
Seller responding to your inspection results	Seller has two days to respond to fix the issues, or reduce the price after we send them inspection issues in writing
Appraisal	Mortgage company orders it after inspection passes . So a delay in inspection will delay the mortgage process.
Wait for mortgage	Can be up to a month or more.. But if mortgage company asks for something rush and get it back to them. A two or three delay by you can turn into a two week delay by the mortgage company.
Shop for insurance	About 2 weeks in, shop for insurance, pay for it and let your mortgage company know the company and contact number. We need to know closing date for insurance company to know when to start the insurance
Clear to close	Once the mortgage has been completed the mortgage company issues a clear to close and calls both the Realtors to schedule the closing
Set the closing	The listing agent and the buyer's agent talk to their clients and arrange with title company a date and time convenient to all
Lender sends documents	Lender sends documents to the title company, title company does the HUD, and the title company tells the loan officer the final number. Loan officer calls you with the final number to bring in a cashiers check to the closing..
Set up the utilities in your name	The days before closing set up utilities to switch to you on the day of closing.
Final Walk Thru	On the day of closing you walk thru the house to make sure no damage has been done to the house
Closing	Sign all the mortgage documents- takes about 1 - 1 ½ hours on the average
Congratulations you own the house

LIST PRICE	CITY	TOTAL SQUARE FEET	BEDROOMS	TOT BATHS	WATER NAME
$4,000	KEEGO HARBOR	3310	3	3	CASS LAKE
$79,733	WEST BLOOMFIELD TWP	907	2	1	CASS LAKE
$99,900	WATERFORD TWP	1225	2	1	CASS
$135,000	KEEGO HARBOR	800	2	1	CASS
$168,000	WEST BLOOMFIELD TWP	2234	4	2	CASS LAKE
$185,000	WEST BLOOMFIELD TWP	1820	3	1	CASS LAKE
$210,000	WEST BLOOMFIELD TWP	1487	3	2	CASS LAKE
$228,500	WATERFORD TWP	2100	3	2	CASS LAKE
$249,900	WEST BLOOMFIELD TWP	2248	3	2	CASS LAKE
$300,000	WEST BLOOMFIELD TWP	2523	3	2	CASS LAKE
$339,000	WEST BLOOMFIELD TWP	2302	4	3	CASS LK
$374,900	WATERFORD TWP	2400	3	2	CASS LAKE
$435,000	WATERFORD TWP	2111	2	2	CASS LAKE
$499,900	WEST BLOOMFIELD TWP	1972	3	1	CASS
$525,000	WEST BLOOMFIELD TWP	2970	3	3	CASS LAKE
$549,900	WEST BLOOMFIELD TWP	5501	4	4	CASS LAKE
$699,000	WEST BLOOMFIELD TWP	3001	3	3	CASS LAKE
$749,999	ORCHARD LAKE	3652	3	1	CASS
$750,000	ORCHARD LAKE	3003	3	4	CASS
$925,000	ORCHARD LAKE	6961	4	3	CASS
$989,000	ORCHARD LAKE	2300	4	2	CASS LAKE
$995,000	ORCHARD LAKE	11232	7	6	CASS AND ORCH
$999,000	WEST BLOOMFIELD TWP	3300	3	2	CASS LAKE
$1,300,000	ORCHARD LAKE	4057	4	3	CASS LAKE
$1,690,000	WEST BLOOMFIELD	4613	5	3	CASS LAKE
$1,690,000	WEST BLOOMFIELD TWP	3860	4	4	CASS LAKE
$1,699,000	WATERFORD TWP	5833	3	5	CASS LAKE
$2,499,000	ORCHARD LAKE	12108	6	5	CASS LAKE

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