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've been working with my client for over a year now through B of A with no luck at all. First, we tried the short sale route that went the length of the listing period with no acceptance of the offers or counters. Then, the client moved from the house and into his grandmother's house in fear of getting set out on the curb and decided upon the 'Deed in Lieu Of' which to date has had no action from B of A at all. I've called many times only to get the response of: 'The bank hasn't decided who the vendor will be yet', and that's been going on for another listing period.

Requirements are that the house be listed for 180 days according to them, but the listing has expired, the client is filing bankruptcy and only want's to know who has the deed to his house. They can't even answer that question. The last person I spoke with was a young lady who had no idea what is going on, and after talking to her supervisor, came back to tell me the same story: "the bank hasn't decided who the vendor is going to be."  What's the story behind all this??

J/C

Reflections in the Mirror (edit/delete)

While catching up on my blog reading I had a thought.  Of course blog reading should conjure up all kinds of thoughts or you're wasting your time, but this was an "outside of the blog reading" thought.  Or at least I think it was.  It doesn't matter. It went something like this, "Are we attracted to people who are like us, or do the people who are like us feel an attraction to us?" 

I've had a lot of people involved in my life over the past . . . . well, good while.  One of the consistent things about the people who end up closest to me is that they tend to be pretty smart, funny, clever and witty.  I'd like to think that's because they are a reflection of me, but is that the way it is?  Regardless, do I gravitate to them, or do they gravitate to me?  Or, do we meet somewhere in the middle by chance? 

If you've ever watched Winnie-the-pooh you know the character Eeyore.  Personally, I like Eeyore, but I've always wondered why he seems so, well, Eeyorish.  He has all these great friends around him that are full of life and energy, and yet, it doesn't seem to bring him up or cause dancing and singing.  I guess he just has an Eeyore kind of personality. 

In my life, I don't have many Eeyores.  Most of my friends, family, associates, cellmates (OK, I just threw that in there to see if you were still reading) and clients tend to be more Winnie-the-Pooh, Tigger and Piglet than Eeyore.  Of course I get an occasional Eeyore, but I noticed that if they are like Eeyore that they are either smart, funny, clever or witty or some combination of them all.  If they're smart and Eeyorish, I can deal with it because I learn something.  If they're clever and Eeyorish, I can deal with it because they catch me off guard and make me think.  If they are witty or funny and Eeyorish, I laugh and find them amusing.  But, if they are none of these things, I find them draining.  Is that because they are not like me, or because I'm not like them?

I go back to my original question, "Are we attracted to people who are like us, or do the people who are like us feel an attraction to us?" Now, the tricky part.  Are the people who are attracted to you more like Winnie-the-Pooh, Tigger or Piglet, or are they more like Eeyore?  I hesitate to use the word "vibes", but are the vibes that emanate from you attracting the people you want to attract?  If there is a big dark cloud outside your front door I have a feeling Eeyore is rounding the bend.  But, if the sun is shining and there is singing and dancing going on you might be attracting a Pooh, Tigger or Piglet.  They all have something to offer your life, but if you're a Tigger kind of character too many Eeyores will wear you down.

If you're a Eeyore kind of character Tigger will get annoying eventually.  Knowing which character you are will help you understand what kind of characters you will attract.  If you're in business and you're an Eeyore character, you may have to put on your Tigger face during interactions to keep customers coming back.  Remember, Eeyore wasn't under a cloud all the time.  Sometimes he was Eeyore, but no cloud. 

One final thought.  There is a 3 to 1 ratio at Pooh-ville.  That is probably a good ratio in your life if you're going to be healthy, happy and balanced.  You can only have so many Eeyores in your life before they start bringing you down.  On the flip side, if you're an Eeyore, you need to surround yourself with Poohs, Tiggers and Piglets to help bring a little extra sunshine to your life.  All four personalities can work together, but knowing which character you're most like will help you determine who you need to spend more time with. 

Today I got a call from the listing agent on a Sunnyvale Short Sale where my buyer is waiting patiently. The agent said that the file went into HAFA limbo. A new wrinkle in short sale submission is HAFA elegibility testing.  When a short sale is submitted many banks are automatically sending the file for HAFA review, to see if the owner qualifies. the problem is that too often either the buyer does not qualify and you have lost 6-8 weeks waiting for a reply.  In this case the file just got lost in the HAFA department but the point here is that the banks are doing this automatically. The seller has to specifically ask to be taken out of the program when you submit the short sale package or it will go into auto review.  Since up to this point less than 10,000 HAFA short sales have been approved nation wide it is a real long shot. Since not only does the seller have to qualify, but the investors on the loan and all mortgage insurance holders have to approve the pay off.  It may be that the revamped HAFA program may have better success, but until I see those numbers I will not believe it.  My short sale sellers have opted not to roll the dice, but instead try to move on with their lives sooner rather than later.  So now I have another question to ask the lisiting agent before submitting a short sale offer, "Is the Seller applying for HAFA?"  If so, it is a good bet that there will be an extra 2 months added on to the short sale unless they get approved for the buyer, the price, and the investor's ok ahead of time. If not I will remind the listing agent to opt out.

If you have any questions about short sales please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E  01191194

650-619-9285

Federal Government Disclaimer (MARS):
1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us commission as agreed to in listing contract for our services.
2. Marcy Moyer of Keller Williams Realty is not associated with the government, and our service is not approved by the government or your lender; and 
3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

 I have recently had some problems with B of A up  including upper management.  They tell us that they are working in good faith to close short sales and then want more than market value. WE CAN NOT SELL FOR MORE THAN MARKET... I have many such cases of this.  I have several problematic files that they have ignored and I can not bring attention to even after being escalated.

The standard of stay on the phone till you get a favorable answer has failed.  Even e mails to the UPPER MANAGEMENT who I have gained access to through trade group contacts have gone silent.  Fannie Mae and Freddie Mac are getting soaked for these losses.  That is of course us as Fannie and Freddie are broke and owe us about 200 billion dollars.

So here is what I did... I sent them a Youtube Message.. If anyone here knows Mr. Monyihan have him give me a call I would love to talk to him.  I think if he took the time or even has the background to understand the mortgage business things could change.  Maybe Freddie Mac or Fannie Mae will pull their ability to do loans, if they can not get things together.

<iframe title="YouTube video player" width="640" height="390" src="https://www.youtube.com/embed/Mf1qacDNT88" frameborder="0" allowfullscreen></iframe>

I'm Firing My GPS! (edit/delete)

I have a love/hate relationship with my GPS.  I'm thrilled to have it, and it has gotten me to many locations I was totally clueless about.  But, then again, it has  taken down roads that were no where near my destination.  Sometimes it has led me to places I have been totally unfamiliar with.  So, you see my love/hate situation.

My GPS has multiple voices.  After listening to each one, I picked Mandy.  Mandy has a lovely British voice that is sometimes a little more formal than most of my driving warrants, but she was better than some of the other choices.  After a few mishaps with Mandy I thought "I need a new GPS.  Better yet, I need a new GPS voice." I brought this up to my wife and that launched a long brainstorming session of potential new voice candidates.  Here's a sample of our list:

• Mr. T - "I pity the fool that doesn't turn right!"

• What about Dr. Phil -  "Alright, so your life is on a straight path, but you've got to turn right up here.  How's that make you feel?  Turn right!  OK, you didn't turn right.  You're going the wrong way.  You know that don't you? You do? Well, how's that working for you?
• Paula Dean - "Hey, y'all . . . we're fixin' to turn right just up ahead there, so keep your eyes open . . . "
• Farmer, "Go to the oak tree on the south-side of the 'Y' up there. Turn right at the new fence posts.  You know, since that city slicker ran through the fence last September that fence has been down.  Don't know why it's taking so long to get it fixed.  Do they think the cows are gonna stay in there because they're loyal?"
• Mushmouth (from Fat Albert) "Hey-ba man-ba turnin' rightca up here . . . man ba.
• Jack Bauer (24) - "I Know this is a lot to deal with right now, but you have to focus.  There's a right turn up ahead.  You need to take that.  When you get to the corner, turn right and keep going.  Don't look back!"
• Clint Eastwood - "There's a right turn up ahead, so you have to ask yourself.  Do you feel lucky?  Well, do ya, punk? Take the turn.  Go head.  Make my day!"
• Ozzy Osbourne - "Mumble, mumble, mumble, mumble . . . SHARON!  You missed the blooming turn again."

Well, you get the idea.  As an independent realtor, I need good directions to make my work flow smoothly.  My GPS has been an essential part of that work flow, but if it's going to keep getting me lost I'll settle for an entertaining voice.  Mandy, your days may be numbered.  Who's on your list?

Here's Your $4.00 Fine! Now stop that! (edit/delete)

The local paper in Winchester does an interesting page every Monday.  On Monday they publish articles from 100 years ago, 75 years ago, 50 years ago and 25 years ago.  I'm always most fascinated with the 100 years ago.  Since I wasn't here to remember them they tend to be the most enlightening and entertaining.

This past Monday the first story was my favorite.  It seems that the postmaster had complained to the local city government that too many men were spitting tobbaco on the floor.  There were spitoons all around, but these uncouth city slickers had taken to spitting wherever and whenever they wanted, and since the postmaster was also the custodian of the post office this had to stop!  Besides, it was a health issue.

Local laws had to be amended to make spitting on the floor of the post office a fineable offense.  It could cost up to $4 if the offense was severe enough, and in 1901 $4 was a lot of money.  Well, the story got me thinking.  What would I fine people for if I could stick a $4 fine on offenders?  Here's a partial list:

• Wearing pajamas anywhere but in your home - cha-ching!  $4.00 please
• Non-handicapped parking in handicapped only slots - cha-ching!  $4.00
• Sitting right beside my table in a completely empty resturaunt - Cha-ching!  Move over.  Leave your $4.00 on the table!
  
• Wearing too much cologne anywhere - teary-eyed, sneezing cha-ching!
  
• Driving 10 miles under the speed limit in the passing lane - cha-ching, cha-ching!
• Talking loudly on your cell phone - we all have them - nobody is impressed - cha-ching!  Hand over the $4.00 and use inside voices!
• Trying to impress me with your intellect while using bad grammer - cha-ching!  That should be $8.00, but I did set a $4.00 limit.  Your lucky day Sparky!
  
• Not returning important phone calls, emails or text messages - cha-ching!  Ante up, $4.00.
• Playing your music so loud in traffic that my car vibrates - cha-ccchhhhiiinnnnggggg!
  
• Chewing with your mouth open - cha-ching!  What was that?  $4.00, spit it up!
  
• Butting in line anywhere - cha-ching!  Back to the end of the line Bub.  Oh yeah,  $4.00 please.

You see my dilemma.  There are just to many things to fine people $4.00 over.  Of course we could use these fines to settle the national debt.  What do you think, two weekends?  We should be there in two weekends, maybe three.  Anyway, what's on your $4.00 fine list?  I may need to take out a loan if this ever becomes law!

A Diamond in the Rough and a Labor of Love (edit/delete)

Every once in a while you find a diamond in the rough.  Last summer a good friend called to see if I would help him bring an old distressed Victorian back to life.  I'm always up for a challenge, so we met up and surveyed the property.  Whew!  Distressed was an understatement.  He had already cut all of the overgrowth away from the house so you could actually see it, and I'm not 100% sure why he didn't leave right then.

Removing all the trees around the house gave an amazing view of a house that had been idle for 12+ years.  Windows were broken out, the porches were falling down on both front and back sides of the house, the roof leaked, birds lived in the attic, and that was just the beginning.

Inside wasn't any better.  The first floor bathroom was missing its floor.  Rain, snow and birds had been passing through the second story windows for years, and they had left their mark.  The walls and ceilings were crumbling throughout, and those were the good features.  But, there was something about that house that had us intrigued.

Strother Adams is a craftsman.  Strother and his brother Davey have rescued more than one structure, and this was surely to be a test beyond most.  For months after that, Davey scraped paint, fixed windows, repaired doors, repaired plaster, built bathrooms with floors, sealed up leaks and did a hundred things I never saw him do.  Strother coordinated plumbers, HVAC contractors, insulators, roofers and others.  My electrical company went in and made the old wiring safe while replacing the majority of it with new 21st century circuitry. 

The kitchen was completely replaced, one bathroom was restored, one more was added and one was cleaned up.  The floors were sanded, plaster finished and walls painted, new trim installed or old trim repaired.  New plumbing and a heating/cooling system was installed, and finally it was finished. 

This ugly duckling had become a beautiful swan.  We had more fun with this property than most we work with.  It had nooks and crannies that most houses don't have.  You could sense little children hiding in the voids between the walls, and you could see a level of 19th century craftsmanship that rivals the best craftsmen of our day.

I love the whole process of buying and selling real estate, but every once in a while a house comes along that begs for a second chance.  I know as realtors, we are in the market to help others buy or sell homes, and that is exciting.  But, I also have the good fortune to be an electrical contractor.  When a diamond in the rough comes along like this one, I often get to be a part of its rebirth.  Then, the buying and selling becomes a second thought, an end result. 

The real joy in finding a house like this is seeing it rise from the dust of blight and decay to become a fully restored home where a family will live and kids will grow, songs will be sung and meals will be shared.  People will fall in love with all of its vintage 1800s features while enjoying the comforts of our upgrades, and they won't be inconvenienced by outdated wiring, plumbing, heating and cooling systems.  No, they will be free to enjoy a piece of history.  They can absorb its strength that helped it survive the ravages of time, and they will sense the families that once walked through its hallways.  It is a diamond in the rough, and what a diamond it is!

There are a plethora of sources to obtain pre foreclosure lists, but what they generally have in common is they are public record information, compiled after the lender has served the Notice of Default (NOD) or Lis Pendens, legal instruments which begins the foreclosure process. 

While very inexpensive or sometimes free, the drawback to these lists is that because they are in the public domain, they are used over and over again by the masses. The homeowners on these lists are inundated with solicitations from REALTORS, investors, bankruptcy attorneys, credit repair firms, and other parties that are competing for the same crowded mailbox space. 

By using "soft" credit data, you can eliminate the bulk of your competition by pinpointing exactly which homeowners in your area are 30, 60 or 90 days late on their mortgage payment. Since this data is insider information obtained when the lender reports a delinquent payment to a credit bureau, it is not public record information that everyone else has access to. Armed with this early, accurate and exclusive credit bureau data, you can be the first to reach out to financially troubled borrowers at the first sign of hardship. By reducing the bulk of your peers and being the first to reach sellers and lenders, you can get ahead of the curve and get more consummated short sale transactions. 

Select troubled homeowners by zip code, how far behind they are, mortgage balance range, and number of mortgage liens. Refine the search by percentage of equity, loan type, credit score and myriad other attributes to put your message of hope and solutions in front of your most qualified prospects. 

How many struggling borrowers are falling behind in your area? You can get a free area analysis by requesting a quick count. 

California has a lot of disclosure laws for the protection of all parties in a real estate transaction, particularly buyers. There are buyers who do not want to buy a home where there has been a death on the property, and there is a disclosure obligation to disclose if there has been a death in recent years.  This works very well if the seller has to fill out the Seller's Supplemental Disclosure or The Seller's Property Questionnaire and Supplemental and Contractual Disclosure forms. But many trust properties are exempt from those disclosures, and many of those properties would be more likely to have had a recent death.  So what do you do if you want to know if there has been a death on a Mountain View home that is exempt from seller's disclosures?

The answer is really simple, ASK THE SELLER.  What you have to do is for you or your agent to ask the seller's agent to ask the seller directly if the owner died in the house.  While the trustee or executor does not have to fill out the written disclosure asking about a death, they do have to answer honestly. Trust me, the person selling the house will know.

The trust advisory that the buyer is supposed to sign when they make an offer tells you to do that. It says "If the Property is being sold because of the death of an occupant of the Property, and if Buyer has concerns about the manner, location, or details of the death, then Buyer should direct any specific questions to the seller."

So if you are concerned, ask.

If you have any questions about buyer or selling a property in Trust or Probate anywhere in San Mateo or Santa Clara Counties, please fell free to ask me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

650-619-9285

marcy@marcymoyer.com

DRE  01191194

Memories can be housed in stuff, especially as people gets older and they find that objects are needed to jog their memory.  The problem is that very often when it is time to leave the place that has been home for 30, 40, or 50 years, there is wall to wall stuff. The plate on the wall that was handed down by great grandmother is probably not going to be wanted by great grandchild number 1. However, with the normal tensions that arise in settling an estate, and the enormous popularity of shows like Pawn Stars and Antique Road Show, many heirs believe that the house full of stuff they have inherited may be worth something.  Also, if you need to sell a probate or trust home in order to settle an estate this stuff needs to be cleared out.

In order to keep the peace in the family and to make sure that nothing is overlooked the most logical thing to do is get the personal contents appraised.  If the sale is a probate sale, this is already written into code. A probate referee will be in charge of making sure all of the personal effects are inventoried and appraised.  If the property is in a trust, the personal effects are the responsibility of the trustee of the estate.  If you are the trustee, get everything appraised and sold by a professional estate seller.  You can get a company like DGW to come in and take everything to their warehouse to be sold at multiple auctions.  Or you can have an estate sale at the house and then get rid of anything that does not sell.  The point is, get a professional who is trustworthy to sell things for the most that they can sell for.  If there is something valuable these people will know and it will keep the peace in the family.

My only other advice would be go through all the papers, envelopes, and furniture yourself. You never know where mom may have stashed cash for an emergency. You are more likely to find money that way, than in the antique piano that no one wants.

If you have any questions about trust or probate sales please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

So I asked myself that very same question today and today again.

I have an investor seller that just built a brand new duplex and I got lucky to be able to list it for him.  Or was I? First off it was a FSBO that I ran into by accident  one day while I was shopping for another investor buyer.  I called the number and left a message.  Later that night , he called me and he grilled me about my real estate experience....he was open to listing with me  and I thought it was victorious!

That was three weeks ago.  Just this week I got the listing finally launched but already he insisits on calling the shots.  First he wants only preapproved buyers with their preapproval letter  in hand to see the home  ( he used to be a banker for the major banks he says)...and he wants this by appointment only and no lockbox or open house despite it being vacant...meaning I have to be at each showing.  I guess that was ok after all I can handle that requirement.

Then when I wrote the listing copy on the MLS, he wants to put his two cents in, revising it.  I wrote a whole paragraph about all its great features and potential about its community ( Watts near Los Angeles actually has new builder construction in it as well as new duplexes being built by individual investors.) and also wrote about the income potential to investors if they go section 8.  He wanted to eliminate that information saying that investors would know that already.  I Have a tremendous job  to market a property that is at a disadvantage because the seller does not want to let everyone see it not to mention that it is overpriced in realation to the comps in the area for even new construction.  ( I tried to tell he what it really would sell for but he said no closing costs either since he had cost over runs in building it).I wrote the copy to give it the most market appeal possible.  Since was he the expert?

Finally he wanted to have me put up and ad banner and get it ASAP which I was excited to do since I was marketing like a good listing agent!  What did he do?  Ask for the printer' s name and number so he could revise it because he did not think buyers were smart enough to know what a duplex was so he wanted it to say "two units". He said it was his building and he should have control over what the banner says.

I know he is from a  different generation than me but this just takes the cake.  I know he needs my help  because under this all, he may be panicky that he will not recover his outlay for this property.  He originated the loan for another seller who defaulted so he became the bank on this one.  Can he not jsut let me do my job?  Do you tell your doctor what medications you need?

Double-Check Everything!  

 

Here's the odd part.  Both the buyer and I had double-checked every form online.  Every form had the appropriate checks and other data.  But, when we printed them out they were slightly different.  There weren't any major changes, but there were a number of odd minor changes.  In our haste to get the offer to the listing agent's client we simply accepted what we could see online and printed, signed and initialled. 

The moral of the story?  Double-triple-quaddrupple check everything.  It didn't hurt anything this time, but it did reveal a problem either in my computer or in the software that could have devastating consequences if not caught.  I approach my computer and this software with great suspicion now, but that's probably a good thing.

First off, let's all agree that at some point in some random conversation with some random person, we have all done it. We have all bragged about our success but, to be arrogant and bragging....well, it's stomach turning.

I just got off the phone with a local agent who wanted to know the status of one of my short sale listings. Well, if you are an avid reader of my blogs, you know....i don't play that game so, I asked her specifically what she would like to know.

Instead of asking me a question she proceeds to tell me how she doesn't like showing Bank of America short sale listings. Because I didn't hear any question in her statement, this strange awkward silence fell onto the conversation like a lead balloon and then she pipes up and ask, "are you still there?"

I replied, "yes, I was waiting for your question." Ok.....maybe it was a smart ass response but, I knew what she was wanting to know and, to be honest, I didn't and will not provide that information so, unless you specifically ask, I am not going to volunteer it. Anyways, she asked, "Is this with Bank of America". I honestly replied with a "I don't know" because at that specific time, I didn't. You see, I have over 25 listings currently, all in different stages of sale and it's not practical or even within my ability to know details on every single file just off the top of my head.....that's why I have files.

So, she huffed...just like a little girl who has been told she can't have another cookie from the cookie jar...she actually huffed, I heard her huff. Well, this action on her part almost caused me to go into a death spiral of laughter but, I held back...with a tear in my eye, it was hilarious.

She then asked me how it was possible that I didn't know. Ok.....well, the thought crossed my brow like a news ticker in times square, "WHO THE HELL DO YOU THINK YOU ARE?" but, I didn't say that because, I am sooo above that...right?

Anyways, I answered her question, "I have 25 listings at the moment and my buyer's team is handling over 100 leads so, for me to keep track of every file off the top of my head isn't practical." Yes, I was a bit snobby when I replied but, who the hell does she think she is to ask such a question?

She then replies with an arrogant and condescending, "Well that must be nice?" Not sure if that was a statement or a question, I replied, "It is."

After this point, her tone changed and she started talking in some weird alien language that i couldn't understand. It's that same tone your mother or wife uses when they are just about to hit their stride with nagging you about everything you didn't get done over the weekend. Women, just a word of advice, when working or dealing with a man, if you manage to hit that magical, nerve wrecking, skin crawling, hateful thought evoking tone, we men....even us "non-traditional" men.....SHUT DOWN! At that point, nothing you say is being heard or even understood so, go...take a nape, wax your upper lip, shave your pits....do whatever it is you do and then come back when you can talk more reasonably. Just a thought.

Now, I can't really recall what she was saying but, I did hear some key words. They were,"don't like Bank of America, takes too long, my clients don't have a year to wait" so, i got the idea and I interrupted her and informed her that even if the property was with Bank of America, with Equator and the new style of customer service in Bank of America's Short Sale Department, no reason why we couldn't get a deal done in 60 days or even less.

She then seems to have ignored everything I said, I guess women have a tone threshold as well, and started telling me that she knows all about Equator and that Bank of America called her once to offer her to be a agent for them and she turned them down.

Ok, for those of you REO agents who are experienced...or maybe not even ever sold a REO, if Bank of America calls you to offer you a job to list their assets and you turn them down either you are an absolute fool or you are just an absolute idiot.

At this point, I knew this woman had no clue, she just wanted to waste my time with her stories of how she knows all about short sales and I realized that she had no clue who she was talking to.

Yes, I had to brag a bit at the end....did you catch that?

Stay Safe, Stay Funny and don't forget to be Fabuloustastic!

What was I thinking? (edit/delete)

OK, I recently had one of those "What was I thinking?" moments, and it reminded me of something.  When my wife was pregnant with our first son she received a piece of advice that I found extraordinary.  It went like this, "Don't do anything once that you don't want to do forever."  Of course we had no kids at the time, and we didn't realize how relevent that would be one day.

Well, we made it through two boys without violating the "Don't do" policy, but then we got a dog.  It's amazing how relevent that same advice would have been if I had followed it with my dog.  While I was at a conference my wife and sons went to PetSmart and rescued a 115 lb Rottwieller.  He was called "Hoss."  He was so tall that his head was above our dining room table.  At 115 lbs he looked kind of skinny, but within a year he was 185 lbs, and then he looked a little like a large black tube with legs and a head.

Eventually, we got him on a better eating plan and he has slimmed down to a nice 145 lbs, and he looks healthy.  Now, here's where I violated the "Don't do" policy.  He is very smart.  So, we all have been teaching him tricks.  It really has been fun, and he plays along willingly.  One day he was standing at the kitchen doorway and I asked him, "What do you want?" I taught him how to walk in and tap his treat bag to let me know what he wanted.  He liked it because it ultimately ended in a treat.  He is very food motivated.  I thought it was cute, and I was very proud of our accomplishment.  Then, before I knew it, he had taken the new trick to the next level.  Instead of waiting for me to ask what he wanted he would come in and tap on his bag of treats.  Before I knew it, he was like a rock and roll drummer.  What I thought was fun and cute had turned into a nightmare.  He had to go back on his diet, and we measure the treats out from an undisclosed location now.

What does this have to do with real estate?  Clients can be like Hoss.  It is our responsibility to help our clients find the perfect house, get the best deal and ultimately walk away feeling like they had a good experience.  But, once some cleints learn that we know where the treat bag is, they start tapping.  What was once offered as an extra benefit or a simple favor for a client becomes an expectation with a commissin attached.  Most of my clients have been amazing, but every once in a while I get one that asks for a little extra, and then a little more, and a little more until they are dominating all of my time and keeping me from other more pressing and more profitable business.  I learned with the boys and Hoss that boundaries and balance keep us all happy and sane, and I have found that the same rules apply to real estate clients. So I leave this helpful advice, "Don't do anything once that you don't want to do forever."

Have a great sane and happy weekend.

Isn't it impressive when you see another agent's profile with a long string of initials behind his or her name?  It might be GRI, or ABR, or SFR, CDPE, CHS, CFS, TRC or a host of other alphabet soup characters.  Being one with multiple Master's degrees, I am a big fan of education.  Not only should every agent take continuing education as needed, but they should also take education courses that make them better suited to work with clients in different and unique circumstances.

With all that said, I do have a different view of the alphabet soup that many agents carry around.  I was in a certification course last year.  Another broker and I were chatting during break when an agent stopped by to visit with us.  She had a string of initials after her name that would make the most well educated PhD jealous.

During our conversation the current certification course came up.  We would all be receiving another set of initials by the end of the day.  I had taken this particular certification because I was dealing with a client who had questions that I could only partially answer,  I needed a deeper understanding of the topic than I could grasp from a quick web search of the Internet.  The broker and I had already discussed our indifference to the new initials, but our colleague was very excited to add a few more to her name.

She asked us what initials we had behind our names, and we shared our current strings.  Immediately after, in what appeared to be a moment of initial laden euphoria, she blurted out her string in a sing-song way.  At the end, she took a deep breath while waiting for both of us to offer our kudos for her accomplishments.  Neither of us did.  Then she said, "So, what do you think about that?"  I'm learning that I don't need to say everything that comes to my mind.  It's a good lesson, but sometimes I forget.  My first response was, "Well, it's quite impressive that you've accomplished all of that learning.  I hope it has helped you become a more efficient Realtor."  Then, without taking a breath, I said, "But for me, a long string of initials behind my name only tells my clients and customers that I have the capacity to sit on my backside for days or hours on end.  They don't have a clue what all of those initials mean."

At that, she stormed back to her seat, and the other broker and I looked at each other wide-eyed and slighlty amused.  That brings me to my point.  I had to stop and ask myself, "Why do I want initials behind my name?"  So, before I spent another dollar on education I had to answer that question.  Since the economy tanked in 2008, dozens of new certifications have come to the industry.  Some are wonderful information-heavy certifications that will help you become a more efficient professional.  Other certifications seem more designed to help their creators pay their mortgage payments.  I would imagine many will disappear when the economy rebounds.

which ones should you focus on?  Here's a list of my questions and thoughts.

• Does it matter?  Will this certification make me a better professional?
• Is there enough quality information in this course to warrant the course fee?  Is this information I could just as easily get from a book or another Realtor with experience?  Is it the information that I crave, or is it the initials?  A moment of reflection might be in order.
• Will this certification make me more valuable to my clients and customers?  Is it specific enough for me to establish myself in a niche market that produces better than average results (i.e., short sales, etc.)?
• Do my customers have any idea what they all mean?  Does that matter?  Will I have to explain each one so they will have a better understanding of what my education experience means?
• Will they really make me a better Realtor?  For example, in our tech savvy environment, it might be good to learn how to use technology to your advantage.  A certification in that arena would definitely help you become a more diverse Realtor, but will it make you better?  If you use it well, absolutely!

These are only a couple things I ask myself.  I try to be a realist, and I realize that my goal as a Realtor should be to help people buy or sell homes.  Can I do that with no initials?  Sure.  Will the initials make me better at that?  Maybe.  I've often wondered if the alphabet soup on some Realtors profiles isn't to impress other Realtors.  If that is the case, they are simply spending money for something that a lot of people they're trying to impress don't have time to care about.  When I work with another Realtor I care about results.  I don't want to know what classes you've sat through.  I want to know if you can get that short sale through the process without my clients jumping off a bridge with me tied to them as a weight.  Efficiency reigns supreme in world.  I will never judge a Realtor's worth by their initials.  It all comes down to results with me.

I hold four Master's degrees, and I am at the end of my PhD.  That doesn't impress me at all.  What does impress me are those moments when all of that education comes flooding back to mind and whatever I'm working on breezes through to completion successfully.  I love to see a plan come together.  Education that does not produce results is expensive in many ways.  When you're tempted to get the latest certification, ask around. Websites like ActiveRain, Linked-in and REOPro are great resources for that kind of feedback.  Ask your colleagues if they are using their knowledge?  Find out if the information is up to date?  Could you use it the day of certification?  Will you be able to help clients who are struggling to sell a house, buy a house or keep a house?  Will it make you a better professional?

Question for my colleagues:  When I researched the Fannie Mae Master Listing Agreement and the REO Sales Guide for Fannie Mae dated February 2011 (Formerly the NPDC Fannie Mae Listing Guidelines), neither states that an agent listing Fannie Mae properties MUST PUT WWW.HOMEPATH.COM in the public marketing comment sections of the MLS.  In Section 7 of the Fannie Mae REO Sales Guide for 2011, page 135 under Marketting Description:  

If a sales incentive is being offered, including this information in the marketing comments on MLS Listings. Make every effort to include the incentive in the public comments of the MLS listing to the extent that your MLS allows you to do so.  For example, if your MLS prohibits entering a website address in the public comments, mention the incentive in the marketing comments EXCLUDING SPECIFICALLY "www.homepath.com".  etc., etc.

Our MLS Committee here is stating that the Fannie Mae agents listing their properties say THEY MUST INCLUDE www.homepath.com in the public marketing comments.  Comments and help would be appreciated!

The most important certification (edit/delete)

I have a different opinion about the volumonous number of agent certifications on the market today,  but there is one certification that I think every agent should pursue.  It's the CPR certification.  I've had a CPR certification for the past thirteen years, and thank God, I have never had to use it.  When I first considered a CPR certification I was hesitant out of fear that I might actually have to use it.  Then, I started teaching an indoor cycling class (Spinning), and I realized that I better have one in the event one of students had an accident or a medical emergency while on the bike.

I bring this up for a very specific reason.  A very dear friend of mine was driving home one day and saw a man mowing his yard.  Suddenly, he grabbed his chest and fell to his knees.  As she drove by, she saw the man's wife running to his aid.  Assuming that he would be taken care of, she continued on her journey.  She found out the next day that he died in the yard.  She was CPR certified, and she had the skills to keep him alive until the EMTs got there.  That may be true or not, but the reality is that her skills could potentially have saved his life. 

Now, put yourself in this scenerio.  You're out showing property, miles from the nearest hospital, and your client has  a heart attack.  What do you do?  The most obvious thing to do is call 911, but what about those long critical moments in between?  Life and death often hangs in the balance during that time.  With the new hands only CPR you could easily give the victim "hands only" CPR until help arrives.  It may save his/her life.  The American Red Cross and the American Heart Association can give you all the information you need.  If you learn the techniques and run into this scenerio you will not only give life to your client, but you will have a client for life.

Who Really Owns the Client?

One of my clients needs a rental.  She is a very tech savvy shopper.  Like so many Americans, she started her search online.  Lucky for me, she found me first.  I dare not ask, but I was hoping she asked for a "Great Realtor in the Northern Virgina area who excels above all others and also know rentals", and not something like, "The biggest Goober Realtor in the Northern Shenandoah Valley." Never mind that one.

Anyway, she found me and we've been looking at houses.  I've really gotten to enjoy this client and her family and sadly, we haven't found that one right rental yet, but that's OK, because we will.  She is very particular.   That means no compromising, and no settling for something that isn't just right.  I appreciate that attitude even though it doesn't pay realtors as well.  She has discovered something I hadn't really thought much about in the past.

I assume (there's that word I try to avoid) that all realtors are like me.  Warm, friendly and professional.  Warm and friendly are good realtor characteristics, but that "professional" thing may need a little fine tuning for some of my colleagues.  I had my assistant (who happens to be my lovely wife) call a few listing agents to inquire about possible properties for us to preview.  One of the agents said that my client was his client.

My client is his client?  How could that be?  My client is my client!  OK, here's where my client's discovery gave me the idea for this blog.  She found that if she called an agent or sent him/her an email he/she would respond immediately.  But, if I called or sent an email, it might be two or three days.  Some never respond. 

As professionals, we should feel comfortable asking a client, "Are you currently working with another agent?"  Every person that dials your number may not be looking for you as their realtor.  Sometime you might get a tech savvy client like mine that has figured us professionals out, and she is using it to her advantage.  I know that a down economy makes every potential lead valuable, but ethics, values, protocols and just plain old courtesy are still in vogue.  I turned my nephew down on a showing when I found out he was working with another realtor.  Professional courtesy is still a big part of our industry, or at least it should be.  If it's not, let's make it a part, one realtor at a time.  Can I get an Amen?  Or at least a referral?