Baron Briefs

I asked my first question on Yahoo! Answers earlier this week. Unlike news groups, the responses were rapid: 10 possible answers within 20 minutes. Not bad. In fact, I kept returning to read what others were asking. Here’s a short list of what I learned this week in the real estate section:

1. Foreclosure isn’t the end of the world. You have eight…yes, count ‘em, eight possible options
2. A negative amortization mortgage isn’t scary when loan officer explains it…then asks for your business
3. You’re not just being paranoid if you’re mortgage broker won’t call you back
4. Real estate investors will be flooding inner city neighborhoods next
   
5. Maybe you should just rent when you move in together

The market is slowing and agents need to stand out in a crowded marketplace. Unlike marketing stunts that can easily be duplicated, a background in architecure or city planning strikes me as a unique value proposition that is difficult for competitors to match. What other examples of “real value” have you seen in the wild lately?

While polling the masses for a new RealtyBaronâ„¢ feature on our mailing list, the discussion took an ugly detour into familiar waters: are lead services a valuable tool for Realtors® or do they simply get in the way of hard-working Realtors®? I’ve decided to let the debate continue here in the comment section rather than pollute the mailing list. So have at it Realtors®…

I can’t remember how many times I’ve read an economist say a softening housing market could turn ugly once sellers and buyers become “disconnected”. Joseph Colgan, a ZipRealty agent on the front lines of Santa Clara’s real estate market, says that time is now:

A huge trend is for buyers and sellers to be just a few thousand dollars apart and then the negotiating stalls. Sellers are believing that a better deal will come in. Buyers believe the next seller will be more generous.

Deals take more work [ZipRealty]

The National Association of REALTORS® yesterday said they urge consumers to “do their homework” and “interview at least three REALTORS® before making a decision”. They suggest the consumer is dropping the ball when selecting a REALTOR® and include stats to prove it:

Fifty-eight percent [of buyers] talk to only one agent before deciding to use them. Sellers are worse: Only 26 percent of sellers talk to more than one agent before deciding who will market their property.

Sure, ‘homework’ should be done when selecting a REALTOR®, but who has time for interviews and marketing plans? And why are consumers expected to be the best judge of a marketing plan? It reminded me, however, that’s why we exist. Our business is REALTOR® selection. We automate both the interview and negotiation process–all within 48 hours. So remember, American consumer, you can do your own homework…or let us do it for you. We guarantee an A+ experience.

Doing Your Homework [NAR]