Timing is Everything, Timelines are Arbitrary

Simply put a standard Real Estate contract for a Residential sale is about ~30 days give or take.  This does not mean that if a transaction does not abide that there are issues.

I just closed a transaction that went under contract the last few days of November and in fact, WE CLOSED A WEEK EARLY!

Everybody has unique circumstances.  In this case, the property was a very unique property, 2 bedrooms, 1 bath, on the water, very nicely updated.  The problem is there is little demand for a property so small.

The buyer came from driving by the first open house I held on the property the first week in October.  He reached out about 3 weeks later.  The problem was he had just purchased a home the year before.  After we discussed the market as it relates to his current home we determined it is better rent out his current home.  The issue, he was in the middle of remodeling.

To make both party's happy, we went under contract at the end of the November but also included a contingency allowing the buyer a way out if he did not have his home under lease by a certain date.  He eventually waived the contingency and we settled early allowing the buyer to move boxes from his old house to the new one and finish remodeling.  

The point is, we have to tailor fit the best timelines to fit the individuals, we cannot fit every individual to the same timelines.

There is no Normal

As a Realtor there are smoother transactions and there are more complicated transactions.  There are however no "normal" transactions.  The homebuying and selling process is different for everyone. 

I have had buyers buy the first house they looked at while others go through around 30 showings.

I have had sellers sell their property in 24 hours, and I have seen some property's just sit abandoned.

I have had buyers voluntarily waive an inspection, while others insist that every piece of minutia be fixed.

I have had some contract close in under 30 days and others in more that 2 months.

My point is, every client has different needs.  It is a disservice to compare to a "normal" transaction.  

The case of the disappearing drain...

So last week I helped my buyer close on a house over in Essex.  A very nice end unit townhome.  The previous week we conducted are final walkthrough.   During the walkthrough we noticed about 2 inches of water pooled infront of the basement door.  Now, this is impossible because the seller agreed to "clear basement entrance drain".  The problem is now the drain had disappeared!

The drain was completely gone!  The water had no where to go.  When I contacted the listing agent he insisted "there never was a drain there to begin with".  Nevermind the fact that they had agreed to clear the "non-existing" drain, for what they said to had been true they would have had to clear the water with a bucket everytime it rained, and it rained ALOT last year!

This had me questioning my sanity.... what reputable contractor would seal a drain like that? 

Ultimately, the next day, the drain reappeared.  The listing agent claimed his client went above and beyond by putting in a raised drain to ensure drainage even when debris clutters.

As a Realtor, we are advocated for our clients and there will always be those out there who we have to protect our clients from.

We Are the Gatekeepers!

To put it simply Realtors and those in the industry are the most solicited to.  I am constantly receiving a barrage of phone calls and emails from every type of business on why I "need" to work with them.  I understand that this is par for the course given my information is quite public.

The problem lies when people are trying to connect with my future, current, and past clients.  Now, I do not reccomend business's lightly because I know ultimately my reputation is on the line.  But typically after every closed transaction I receive a barrage of phonecalls from different people trying to get me to connect them to my clients.  I DO NOT!

I will not connect my client to a person I have not vetted, typically these people are with home alarm company's offering "Realtor Incentives" (aka bribes) for me to connect them.  These people have negative reviews through out their professional pages and often are reluctant to provide that information.

Below is the email response that I received from one such individual after I politely told him I would not text my client on his behalf but rather I prefer he email me his information for me to vet and pass along if I deem in the interest of my client.  Mind you, he was trying to sell a ADT system which is already installed in the house and offering products of no value or are redundant. 

Here are the links to his business:
facebook reviews
google reviews
yelp reviews

Exclusive Representation in a Nutshell

In my brief tenure thus far a Realtor I have had "both sides" to a transaction" twice.  I know many seasoned agents who have yet to experience that phenomenon.

So the question is, "why is it okay for me to represent both sides* but I also insist buyers use me for exclusive representation in transactions with a third party listing agent? 

The simple answer is I am a hypocrite.  The more complicated answer is when representing 2 sides to a transaction you are essentially playing poker with 2 other people and you can see both their cards but they cannot see each others.  It is your job to make sure both party's leaves happy while not violating your fiduciary responsibility to your client (in my case the seller).  You need to show the advantage to the buyer of having you facilitate the transaction while not forfeiting your clients leverage.

Ultimately and honestly it is a very fine grey area to be caught in.  In both cases that I have been in I have navigated it well where ultimate discretion falls on my seller.  But I have also seen too many other situations where people have been taken advantage of because they are unaware of who the agent represents (despite forms required by the Maryland Real Estate Commission articulating exactly that).

There are some great benefits to having one agent represent both party's though.  For example, the agent can clearly track the progress of the transaction from both sides assuring it reaches settlement.

In conclusion, although there are benefits to having an agent represent both sides, the only way it can be effective is if there is total transparency and ultimately discretion goes to the fiduciary.




* I represent the seller as a client, and the buyer as a customer

2018... a look back

I became a Realtor in April of last year after buying my first house 6 months earlier.  Real Estate is not an easy industry and I did not have my first closing for over 6 months.  Still, I persevered! 

Since, October of last year, I have assisted on 8 transaction sides, 6 hgomes in total. 

Last year I learned how to be a Realtor.  Now, in 2019, I am looking to help many many more people.  I love being detail oriented and having my thumb on the transaction as it hits every milestone.

I love building new relationships.  I love helping people who are in all stages of life, whether it is their first home they are buying, or their last home they are selling.

Below is just some of the transactions I had the pleasure to be apart of last year.  I cannot wait to see what 2019 has in store!

Changing Brokerages... an inside look

Last month I decided to change brokerages.  I started out with a RE/MAX franchise.  I learned a great deal at RE/MAX and in fact that is where I took my Real Estate classes and got licensed.  Definitely a big factor in me joining RE/MAX initially was the familiarity.

Now, most offices of large Real Estate brands operate, for the most part, independently.  I am not going to bash RE/MAX as a company because in fact I did learn a lot.  However, I joined a smaller brokerage where I felt the office atmosphere lacked a level of ambition or hunger that I needed to sate. 

There were a number of other factors that contributed to me leaving, including monthly dues, commute, etc... Ultimately, the straw that broke the proverbial camels back, was my office decided to increase the admin fee charged to customers.  In Real Estate admin fees can range from 200 dollars to 800 dollars, my office increased theirs from 420 to 495, I felt that 75 dollars was a significant increase. 

I felt that the brokerage was increasing their income per transaction with no benefit to the agents.  That was the reason why I left.

Now, I learned a great deal when leaving.  Despite my brokerage requiring 30 days notice and I submitting said notice, I was terminated immediately upon giving notice.  This severed all ties to RE/MAX included RE/MAX branded email accounts, and a number of other services.  Further, I had prepaid my December dues to RE/MAX which they said they would refund at the time of my final closing with them which was scheduled 2 months later.

Ultimately, as a Realtor, you build your own business, your brokerage is just the support network and atmosphere to foster growth.