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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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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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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!

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

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When I meet with buyer clients, I like to discuss how our home search is going to involve a multi-pronged effort in order to be successful. The client will use the resources of the Internet with sites like Homesdatabase.com,  Realtor.com, Trulia or Zillow, and a few other super secret strategies. Yes, I will have the MRIS/MLS along with a network of successful agents that I have cultivated over the years and a few clever old school ideas.

But a few weeks ago when some clients were being extra specific, I drilled down through the Fairfax County tax records to look for old-timers who may be getting ready to move. You know, the old “come on lady, move out now while you can still walk” strong-arm strategy, similar to the training tape we just watched last week featuring Alec Baldwin.

But seriously, I found some folks who had been in their home 20+ years and sent them a compelling letter with followed up phone calls. As fate would have it, one guy who was just starting the pre-listing process and received a letter called his agent asking if my letter “was for real”.

“Who is it from?” she asked.

“Some guy named Doug Francis with Remax real estate” he responded.

“Well, I have known Doug for 17 years, so I feel it’s legit” she said.

So we saw the house, made an offer that was accepted, and now just have to wait for the appraisal to get finished. A successful home search, even in Vienna, Virginia, needs more than one strategy to get the job done.

Old school!

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Did I say “assume”?

Prior to a home inspection on one of my listings, I mentioned to the buyer’s agent that the glass in the foyer light fixture would be replaced as it cracked when my client tried to replace the bulbs. Unfortunitely this item was not mentioned specifically in the home inspection report or repair addendum (but it should have been). So, my client thought that the buyers were okay with it and must plan to replace it with their own fixture.

You guessed it, when the agent did the final walk-through inspection, she said it was an issue for the buyer that the glass was broken.

Especially in real estate transactions, it is the smallest issues that can get everyone’s blood pressure up to dangerous levels. Buying a home is stressful and issues like this one push people over the edge or ignite a short fuse.

It is clear in the state real estate regulations that all real estate agreements must be in writing to be enforceable. Paper, we love paper! The courthouse loves paper too, so that is why they want an old fashion paper trial trail.

So with everyone’s reputation on the line, I stopped by Home Depot to pick up a similar fixture that I could cannibalize for that precious glass, drove to the house and climbed my trusty Werner step ladder to screw it in place… and then took a couple digital photos to show the buyers at the closing table. Case closed.