agent

The Real Estate Consumer has changed…

Okay consumers… did you know that people buy homes differently today than ten years ago?

Today’s real estate consumer has so much information available that is specific, in depth and literally on demand that it has transformed the role of the real estate agent… for the better. The way consumers get mortgage information is better too as home buyers come prepared often before they look at their first house.

Ten years ago I was one of the first agents to jump at adding Northern Virginia home-search capability to my web site. It was up to date and provided by the people at the MLS, but the photos were few and there were none of the mapping features common today. When I would share with my colleagues that my clients had showed up with five listings that they had already picked and wanted to see, well they would be amazed. Because for years, really, it was the agents who selected that short-list.

And ten years ago when a client told me that they had been pre-qualified online by “Quicken” or BestRate.com it seemed pretty darn exciting. Wow, a pre-approval letter already in hand! Of course we all learned a lesson when those loans occasionally did not arrive on-time or close for a host of reasons (and much finger pointing).

So buying a home should be easier today in 2010 than then, no?

Yes consumers do have more knowledge but with that comes real world application. Because you need to remember that we are still dealing with people, and those people make decisions to act one way or another.

Getting a home ready to sell in the HGTV episode looked pretty easy… de-clutter, some fresh paint, new wall-to-wall carpet, flowering plants, vanilla oil, de-clutter again, clean the windows, and maybe a small kitchen update like granite counter tops.  Yup, all in a neat little half-hour episode.

The funny thing is that the buyers have seen that HGTV episode too and are far too savvy to fall for that superficial hype. Although I agree, any house does look considerably better (but it will take a little more time to finish the staging plan).

You are both using the same home sales “intel”

It’s true. Those home buyers are looking up your home on Google, checking satellite maps, making sure your neighborhood school has good test numbers, calculating how much a high efficiency furnace or new windows may cost, and of course looking at the “Zestimate” or “Walkability Score” of any property of interest.

So what does all this mean? Any active real estate agent will tell you that these consumers are facing house information overload and that the steady hand of a professional real estate agent as the human interface is more essential than ever to get the deal done. It’s just a skill your Google can’t Google.

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My 15-year RE/MAX Anniversary

Over the weekend I received an unexpected acknowledgment from RE/MAX International congratulating me for reaching my 15-year mark as a RE/MAX Affiliate.  Yes, I started in 1991 at a local firm in Vienna and made the switch in 1994.

Now this may not seem like a big deal, but it started me thinking about the last fifteen years and where the world was in 1994. Also,  what has been the biggest change in the way I work and how the real estate business ran 15 years ago.

Back then, I had to convince my business card printer to put my e-mail address on my cards so that clients could send me e-mails at my AOL account. My car phone sat in a mounted cradle in my car, and my lock-box key resembled an over-sized car key. The Dator system provided MLS information printed out on dot-matrix printers. And my monthly newsletter was printed up at Kinko’s and mailed out at the start of every month to my database.

When I spoke with one friend, she reminded me that everyone had pagers so they could pick up a phone (or pay phone) and call right back. And our office phone messages were hand written and put in a circular tray with everyone’s name on it.

Getting my e-mail address printed on my business cards was cutting-edge

Yes, the Internet was out there but it was dominated by AOL and Prodigy when both companies mailed millions of installation discs to homes every day. And back then, we used to scramble and fax classified ads to beat the print deadlines at The Washington Post!

I guess this milestone should have some significance since the turnover rate for Realtors nationally, according to NAR’s web site, is over 50% every five years. A lot of my success has been working a business plan and keeping a focus on my clients and network of friends to give me exposure and referrals. Marketing is ever changing as consumers expect more… such as this blog vs. my old paper newsletter. But selecting the right broker to work under provided a synergistic relationship, and the affiliation with RE/MAX International gave me technical training and exposure that supported my efforts.

Yes, I know there are some agents who frequent my posts, so let me know what you feel is the biggest change in your business in the past 5, 10 or 15+ years?

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Your Maryland lockbox doesn’t work in Virginia

In the past two weeks, I have shown up at two vacant homes in Fairfax, Virginia with clients wanting to take a look-see, only to find that the SentriLock lock-boxes did not work. You know, SentriLock’s are the little blue boxes on the front door handles of homes for sale.

In the Washington D.C. metro area, we have Realtor Associations in Maryland, D.C., and Virginia, plus many Realtor sub-associations in each state. Some agents get licensed in all three jurisdictions which also means they need to join each association (yes, it does sound like a racket to me too). But, this is where some agents may be trying to skip a step when working on the other side of the river.

Well, the first time the box did not work I just called the agent and left a message. The second time I left a message too. I figured out the Maryland connection through a little detective work… their telephone numbers were area code 301.

Maybe a trench coat would help my business? Or maybe that’s a 301 redirect (too geeky?)

Silence.

No response, no thank you’s, and no call saying that they changed the box so please come back.

They did not care about the situation… probably because driving from Maryland into Northern Virginia almost requires you to go through Tysons Corner where the Capital Beltway is torn up and traffic is snarled 18-hours a day.

The lesson for the Sellers: If your agent installs an out of area lock-box, then you have a gross negligence case.

Maybe it’s time to find someone who cares about selling your home!

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Disclosure of Business Relationships

Doug Francis

Licensed in Commonwealth of Virginia: Real Estate Board – Salesperson License Number 0225 021708 Expires: 12-31-2009

There are no complaints filed with the Virginia Department of Occupational Regulation (DPOR)

My Real Estate Broker:

Presidential Properties Inc.

RE/MAX Presidential

3028 Javier Road Suite 100

Fairfax VA  22031

703-573-2500

Doug Francis does not have affiliated business relationships with or is not compensated for referring mortgage lenders, home inspectors, termite guys, movers, framers, cleaners, photographers, radon inspectors, radon re mediators, environmental engineers, roofers, plumbers, electricians, printers, attorneys, settlement agents, title insurance agencies, surveyors, appraisers, credit unions, tree men, landscapers, the USPS, WordPress, YouTube, Google, yard sign guys, insurance agencies, restaurants, dry cleaners, Town of Vienna, W & OD Bike Trail, Verizon, DocuSign, PureDigital Technologies, MicroCenter, MRIS, FranklyMLS… I’m sure I will add more so there isn’t any confusion.

Please let me know if you have concerns about something you have read on the blog.

All material is copyrighted and can be used with permission of the author,  Doug Francis2009

Thanks!

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