Photo ©tckaiser 041222-040
This Thanksgiving, let's not focus on any perceived lack, but count our blessings.
Happy Thanksgiving to you and your family,
Tobias
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25 November 2009
20 November 2009
How would you like to be treated?
THE CLIENT-REALTOR RELATIONSHIP: OF MUTUAL COMMITMENTS
Recently, I had two interesting experiences with prospects, both of which touch upon the relationship between client and Realtor. Here is one:
A prospective buyer contacted me by email, and as I always do with such inquiries, we first spoke on the phone. After our conversation, I verified the search criteria and then sent a market overview with several matching properties (which were not that easy to locate).
I also explained my commitment to clients, including that I may spend 25, 30 or even more hours on a transaction, but of course will not get paid if no closing takes place.
So that I can dedicate my time to serious, loyal clients I try to separate them from non-serious ones early on. To do that, I send all buyers – including this one – a non-circumvent form (mind you, not a Buyers Broker agreement obligating to work with me exclusively).
This agreement states that a client will not circumvent me on any property that I have sent or shown: if a listing is found through me, the clients agrees to buy it through me.
This client's reaction:
That sounds like an excellent definition to me.
And my prospect obviously expected a professional to work for her – to dedicate his time, knowledge and effort to find the right modernist house.
But how can it be that a "happy transaction" is one where the client gets away with zero commitment to paying a real estate professional if he performs, while at the same the Realtor is supposed to work hard, find the right property and still may end up empty-handed? Something is fundamentally wrong with this picture.
How would you in your profession like to be treated? How would you react if someone requests your services, while declaring – right from the beginning – the possible intent not to pay you?
Recently, I had two interesting experiences with prospects, both of which touch upon the relationship between client and Realtor. Here is one:
A prospective buyer contacted me by email, and as I always do with such inquiries, we first spoke on the phone. After our conversation, I verified the search criteria and then sent a market overview with several matching properties (which were not that easy to locate).
I also explained my commitment to clients, including that I may spend 25, 30 or even more hours on a transaction, but of course will not get paid if no closing takes place.
So that I can dedicate my time to serious, loyal clients I try to separate them from non-serious ones early on. To do that, I send all buyers – including this one – a non-circumvent form (mind you, not a Buyers Broker agreement obligating to work with me exclusively).
This agreement states that a client will not circumvent me on any property that I have sent or shown: if a listing is found through me, the clients agrees to buy it through me.
This client's reaction:
Wow, this is a first... This email signals some unfriendly red flags for me, I need this to be a nice and happy transaction and don't like to start relationships with a dark cloud overhead. I can appreciate your distrust in people here, but I am not one. Thanks but no thanks, this is too much of a red flag.Joseph Harvill, publisher of GSM, recently described a professional as someone standing "for ideals and principles and virtues in practice".
That sounds like an excellent definition to me.
And my prospect obviously expected a professional to work for her – to dedicate his time, knowledge and effort to find the right modernist house.
But how can it be that a "happy transaction" is one where the client gets away with zero commitment to paying a real estate professional if he performs, while at the same the Realtor is supposed to work hard, find the right property and still may end up empty-handed? Something is fundamentally wrong with this picture.
How would you in your profession like to be treated? How would you react if someone requests your services, while declaring – right from the beginning – the possible intent not to pay you?
13 November 2009
FW: Blog posts
Chipotle Pepper Flakes:
tie-in: utensil in the modern kitchen
Modern Architecture:
Pontiac Dealership LHP - ring up to get photo permission
Major part of any modern house:
intro: elements of modern architecture, such as intersecting planes, angular appearance, form following function
vital element to turn it from inspired architecture into breathing living habitat: an animal. Not stylish, no fluff, but (insert Schotten characteristics: reserved towards outsiders, lovable, charming, smart, confident, no bragging, angular, sturdy, stubborn, owns the master, not the other way around, just like a modern house)
Only one fits: the Scottish Terrier. Not a Westie (lovable dogs as they are). The perfect dog to fit into a modernist house.
Modern Naval Architecture (OT)
An interesting event happened at the Fort Lauderdale harbor this morning - unfortunately I missed it because I did not see the arrival times in the Miami Herald yesterday (the Sun-Sentinel didn't even bother to publish it): the world’s largest cruise ship, the Oasis of the Seas, pulled into Port Everglades around 8 am today (photo: on sea trial in Europe, 28 Sep 2009, ©Royal Caribbean) It passed by the Point of Americas, a tall condo right at the harbour entrance, which you can see in these videos from CBS (unedited and without sound, probably to post them quicker.) The first few minutes are a bit odd - zooming back and fourth - but then they show the ship pulling in, filmed from a park to the the south. You can see how it completely obstructs the condos at the harbour entrance:
The ship's itinerary for now, according to Royal Caribbean :
Nov. 13-18: Ship will be inspected by the U.S. Coast Guard and the U.S. Public Health Service to make sure it meets international safety and sanitary standards. The ship must pass the inspections to operate from a U.S. port.
Nov. 14: A towering special-purpose crane will install tropical plants in Central Park. This first-ever "park at sea" features 12,175 plants, 62 vines and 56 trees.
Nov. 19: A one-night cruise departs from Port Everglades with top Royal Caribbean executives, the media team from ABC's Good Morning America and other VIP passengers. Pop star Rihanna will perform a special concert that night from the AquaTheater stage.
Nov. 20: Good Morning America will broadcast live from Oasis from 7 a.m. to 9 a.m., offering an exclusive first look at the ship.
Nov. 20 and 22: Two two-night cruises to nowhere will preview the ship for company officials, media, travel agents and invited guests.
Nov. 29: One-night preview cruise and fundraiser supporting the local chapters of the United Way and American Red Cross. Royal Caribbean donated more than 1,000 cabins to the organizations to sell to the public.
Nov. 30: One-night preview cruise and fundraiser supporting the Make-A-Wish Foundation. Royal Caribbean donated 1,300 cabins to the organization to sell to the public. Highlights include the official christening and naming ceremony.
Dec. 1: First full-revenue voyage, a four-night trip to Labadee, Haiti.
Dec. 5: Inaugural departure on a regular seven-night itinerary, this one to the Eastern Caribbean, stopping at St. Thomas, St. Martin and Nassau, Bahamas.
Nov. 13-18: Ship will be inspected by the U.S. Coast Guard and the U.S. Public Health Service to make sure it meets international safety and sanitary standards. The ship must pass the inspections to operate from a U.S. port.
Nov. 14: A towering special-purpose crane will install tropical plants in Central Park. This first-ever "park at sea" features 12,175 plants, 62 vines and 56 trees.
Nov. 19: A one-night cruise departs from Port Everglades with top Royal Caribbean executives, the media team from ABC's Good Morning America and other VIP passengers. Pop star Rihanna will perform a special concert that night from the AquaTheater stage.
Nov. 20: Good Morning America will broadcast live from Oasis from 7 a.m. to 9 a.m., offering an exclusive first look at the ship.
Nov. 20 and 22: Two two-night cruises to nowhere will preview the ship for company officials, media, travel agents and invited guests.
Nov. 29: One-night preview cruise and fundraiser supporting the local chapters of the United Way and American Red Cross. Royal Caribbean donated more than 1,000 cabins to the organizations to sell to the public.
Nov. 30: One-night preview cruise and fundraiser supporting the Make-A-Wish Foundation. Royal Caribbean donated 1,300 cabins to the organization to sell to the public. Highlights include the official christening and naming ceremony.
Dec. 1: First full-revenue voyage, a four-night trip to Labadee, Haiti.
Dec. 5: Inaugural departure on a regular seven-night itinerary, this one to the Eastern Caribbean, stopping at St. Thomas, St. Martin and Nassau, Bahamas.
So where is the real estate connection in this post?
Easy: see the three tall condominiums on the north side of the harbour entrance in the videos? Especially the eastern-most, the Point of Americas, is a wonderful building. Its unique location, in my opinion the best condo location in Fort Lauderdale, offers an incredible vantage point from which you can view ships going out and coming in all day long. When I showed a SE corner condo in that building, I envisioned placing my desk overlooking the harbor entrance... and not getting any work done, ever. If you are interested, let me know.
Enjoy and happy Friday the 13th!
07 November 2009
President Obama approves Extension + Expansion of Homebuyer Credit
On Friday, President Barack Obama signed the bill that includes the extension and expansion of the homebuyer tax credit. The credit will thus not expire on November 30, 2009, but continue in its extended form until 30 April 2010, with the following stipulations:
- $8,000 tax credit to first time homebuyers (Definition of a first-time homebuyer according to the IRS: you did not own a home in the past 3 years).
- The tax credit will actually be 10 percent of the home purchase price, up to $8,000.
- New: tax credit of up to $6,500 for existing homeowners looking to purchase a different primary residence. Conditions: primary residence “swap”, buyers must have owned their home for five consecutive of the previous eight years.
- New: income limits raised to $125,000 for single filers and $225,000 for joint filers (read: if you don’t file a US tax return, you don’t qualify – my apologies to my Canadian, South-American and European friends)
- Purchase agreements have to be signed by April 30, 2010 and closed by June 30, 2010.
- Purchase price of home must not exceed $800,000.
05 November 2009
Senate approves Homebuyers Credit Extension and Expansion
Last night, with a vote of 98-0, the United States Senate approved extending and expanding the homebuyer tax credit.
CONTENTS:
As previously mentioned:
NEXT STEP:
The United States House of Representatives will have to approve the language later this week, as early as today. If there are no further modifications made by the House, President Obama could see this bill on his desk by Friday.
Please do contact me if I can help you in any way or if you have further questions.
CONTENTS:
As previously mentioned:
- $8,000 tax credit to first time homebuyers (Definition of a first-time homebuyer according to the IRS: you did not own a home in the past 3 years).
- The tax credit will actually be 10 percent of the home purchase price, up to $8,000.
- New: tax credit of up to $6,500 for existing homeowners looking to purchase a different primary residence. Conditions: primary residence “swap”, buyers must have owned their home for five consecutive of the previous eight years.
- New: income limits raised to $125,000 for single filers and $225,000 for joint filers (read: if you don’t file a US tax return, you don’t qualify – my apologies to my Canadian, South-American and European friends)
- Purchase agreements have to be signed by April 30, 2010 and closed by June 30, 2010.
- Purchase price of home must not exceed $800,000.
NEXT STEP:
The United States House of Representatives will have to approve the language later this week, as early as today. If there are no further modifications made by the House, President Obama could see this bill on his desk by Friday.
Please do contact me if I can help you in any way or if you have further questions.
02 November 2009
$8k Homebuyers Credit extension? Probable.
A major role in the improved US housing numbers - for resales, which are the major part of the housing market, as well as new construction - has been accredited to the $8,000 First Time Homebuyer Tax Credit. This credit was set to expire on Nov 30, 2009. Realtors supported the buying public strongly by lobbying hard for an extension of the credit, arguing that it helped stabilize the housing market, which in turn is a major economic factor.
Status: Last week, a major hurdle was taken when the Senate came to a - bipartisan! - agreement to extend the measure.
Content of the extension proposal: (1) to qualify, purchase agreements for first-time home-buyers have to be signed by April 30, 2010 and closed by June 30, 2010. Definition of a first-time homebuyer according to the IRS: you did not own a home in the past 3 years.
(2) The tax credit will be 10 percent of the home purchase price, up to $8,000.
(3) New: existing homeowners looking to purchase a different primary residence could be eligible for a tax credit of up to $6,500. Conditions: primary residence “swap”, buyers must have owned their home for five consecutive of the previous eight years, max. purchase price $800,000.
(4) New: qualifying income limits may be increased from $75,000 to $125,000 for singles, and from $150,000 to $225,000 for joint tax filers
Next step: The extension Bill must be reconciled between the House and Senate, and then voted on for final approval.
Next step for prospective homebuyers: Don’t snooze. Mortgage rates could rise, selection will fall. In all local market segments I observe, inventory is being gobbled up (nice segue to Thanksgiving?) from the low end of that segment. The longer you wait, the less selection you will have. And that includes not only condos and the “average” house, but also midcentury and contemporary modern homes.
Status: Last week, a major hurdle was taken when the Senate came to a - bipartisan! - agreement to extend the measure.
Content of the extension proposal: (1) to qualify, purchase agreements for first-time home-buyers have to be signed by April 30, 2010 and closed by June 30, 2010. Definition of a first-time homebuyer according to the IRS: you did not own a home in the past 3 years.
(2) The tax credit will be 10 percent of the home purchase price, up to $8,000.
(3) New: existing homeowners looking to purchase a different primary residence could be eligible for a tax credit of up to $6,500. Conditions: primary residence “swap”, buyers must have owned their home for five consecutive of the previous eight years, max. purchase price $800,000.
(4) New: qualifying income limits may be increased from $75,000 to $125,000 for singles, and from $150,000 to $225,000 for joint tax filers
Next step: The extension Bill must be reconciled between the House and Senate, and then voted on for final approval.
Next step for prospective homebuyers: Don’t snooze. Mortgage rates could rise, selection will fall. In all local market segments I observe, inventory is being gobbled up (nice segue to Thanksgiving?) from the low end of that segment. The longer you wait, the less selection you will have. And that includes not only condos and the “average” house, but also midcentury and contemporary modern homes.
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