Buy or Sell a home in Hampton Roads ... have fun and make new friends!!

I absolutely love the people that I meet on my business.   I have gained some incredible friendships.  I don't know if it is because I am foreigner, but now I can count amongst my best friends ladies from India, the Philippines and Maryland.  I know the latter is not foreign, but she is so unique, she might as well be from another world.  On the guy side, the guy that works for the city, who has more brains and kindness than he knows what to do with.  I rode around with another client from out of town, who taught me so much about luxury construction that might as well he be the one in the business.  He was so much fun, I really hope that he and his wife choose Virginia Beach as their home.  A couple of years ago, I met a kid from Cuba who had more money saved than most of the clients that I have had. He lived in Cuba until the age of 15, and had been in the Navy for about three years.  He had some very interesting tales to tell.  He was 21 at the time.  He is one of the people that I have admire most in my entire life. 
And then there are the young couples and the families with children.  I relive those times in my lives while I work with them.
But...... today was definitely different.  I received a phone call last week from some one who I initially thought was a prank call.  I could not understand one thing he said, but recently I received several leads with Asian names, so I was careful to be as nice as I could.  He turned out to be one of this leads.  I have always hated when people think I don't understand what they are saying, or they don't understand me and they raise their voice.
Hey! I speak another language, I am not deaf!!.....  Well what do you know, while on our conversations on the telephone  he raised his voice, and I raised mine... I heard the word "office" and  I responded  "Friday" amongst other things.  We finally texted each other time and location.  We decided to meet at my office this morning.  Remembering how I had learned English several decades ago, reminded me to bring my notebook.  As soon as I saw he was carrying a piece of paper, I knew we would get along just fine.
We talked for about 90 minutes, came to an agreement of what homes he is interested in, and I explained to him what foreclosures, short sales, REO, deeds and the difference between condos and simple ownership are in the Commonwealth.
He took his paper with him, and I am so glad I had my notebook because I can see what we did.  He was very nice and patient, and I wonder how much he truly understood.   I look forward to learning a few Chinese words, so that I can impress him next time I see him.  I love this business, and I am very lucky with all the wonderful people that I get to work with. 

To SELL or BUY  Real Estate in Virginia Beach, Chesapeake, Norfolk, Portsmouth or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324  or email Tere.Rottink@yahoo.com

Over priced listings.  Should we consider them?

There are a lot of blogs on over priced listings,  we all (real estate agents) agree that we should never take them, but I would like to share another point of view.  I know that many agents are going to disagree with this point of view, but this is very much on my mind, so I am going to share it.

A while back, I had a navy pilot be specific on what he wanted for his house, and although it was way over priced, we came to an agreement that we would list his house for $10,000 more than what I thought is should list even on the higher end of the CMA.  The agreement was that at the end of 3 weeks, after getting feed back from the showings we would reduce the price. I mention what he did for a living because his personality was very strong and very methodical.  During the third week, we had our third showing in the time of the listing, and I had the feeling that this last couple had really liked the place from the feedback of the buyer's agent. I decided to hold on one more week before lowering the price, just in case of they wrote an offer.  So it happened that we did get a full price offer with high closing cost assistance request.
I had to explain to my client that an offer in hand is worth more than..... anything else, and after thinking it over for a couple of days, he accepted the offer.  It has to be mentioned that this house was in mint condition with all the bells and whistles and showed better than anything else in that price range in a desirable area.  Back then appraisers were not yet under such scrutiny.  The sale went through without a hitch.

Over priced listings.  Should we consider them?

This past winter, I had a listing appointment with a seller whose listing had expired.  After talking with the seller, I realized that the previous agent had done a pretty good job advertising the listing, holding open houses, flyers etc...  The Internet marketing could have been stronger, but during the 6 months that the house was listed there had been 3 offers.  One of them was $5.000 short of his asking price.  Eventually, he reduced the price and the listing expired.  The seller interviewed 3 new agents, and I was one of them. After the initial in person interview, I spoke with him several times over the next couple of months, and I decided he was not someone I wanted to work with.   Recently  I was looking at this neighborhood and saw that he had sold the home for the price I had suggested plus $10,000.   He had done all the repairs and improvements that I had suggested, so the house showed much better, but I still could not believe that an appraiser would agree to that selling price because the numbers weren't there.
Did he make the right decision?  I don't know.  He sold for his initial price from the year before.  In the mean time he made substantial improvements to get the house up to par in that neighborhood.  It took him a year plus a few months after he initially put it on the market, and he could afford to hold on that long.  I assume he was happy that he got the price he wanted.  I know that he was taking money out of saving to cover all expenses, so by the time he was done, he probably broke even with that earlier offer short of $5,000.
My point is.... that some times in those desirable neighborhoods and when the home is in better than mint condition, we should consider taking the listing.

To SELL or BUY  Real Estate in Virginia Beach, or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

Over priced listings.  Should we consider them?   was first published on Hampton Roads Real Estate VoiceCopyright © 2010 By Tere Rottink, All Rights Reserved. 

Over priced listings.  Should we consider them?

Questions to ask a Real Estate Agent - Realtor in Virginia Beach   before you hire them.
Questions to ask before you list your home in Chesapeake Virginia.

The following questions will help you select the right agent that will help and not hinder the sale of your home. These are not the only questions that you should ask the listing agent that you are interviewing, but these are questions related to how my buyers find homes, and what it takes for me "the buyers agent"  to contact them and show their listings. The listing agent with the most listings is not always the best agent.
 
- Are you a top producer?
Yes, then ask
- How many listings do they have and how many do they sell per month.  
- What is the average time on market from listing to sold?
- Does the agent answer his/her phone within 2 hours?
- Are you an agent who is part of a team where only the team leader numbers are on the home/listing  information.
Yes, then ask
How will my listing get sold to the people calling about my home, as the person answering the phone has never seen the home nor the location of the home?  I have called about homes listed by agents in these type of situations and have not been able to get the correct information or any information at all .  If I ask for the listing agent who is familiar with the property I now have to deal with delayed messages and wait for call backs.    I didn't show 2 homes like that this week because I found  50+  homes that matched my clients criteria with easy access,  I will not waste my time trying to find this agents.  I will show these homes as a last resort.
Questions to ask a Real Estate Agent - Realtor in Virginia Beach   before you hire them.
Questions to ask before you list your home in Chesapeake Virginia.

If your home is not in the best condition:
- Will you be truthful about my home, so that it is priced and advertised to sell?
Selling a home in less than perfect condition can be done without a problem, if marketed to the right buyers.

How are you going to advertise my home?

- How many pictures are you going to upload onto the MLS?  My clients ask me to show me homes because of the pictures they are seeing on the Internet. 
- Open houses.  Is there a plan for these Open houses.  Too many is not good, it makes the seller appear desperate.
- Flyers.  
- Virtual tour
- Youtube movies
 -Do you allow your listing to be marketed on the Internet?  Some agents will not allow the listing to go all over the Internet.  This way only buyers with access to a local area MLS will get information about your listing.     87% or more of prospective buyers start their search on the Internet, and most buyers don't know how to get to websites that have access to local MLS or Multiple Listing Service. On the Internet your buyer has to be savvy enough to make it to the agents website.    This reduces your chances of  your home to be found by over 87% 
-Are you  Internet savvy? Are they manually going to upload your listing to the 30+ websites they are promising to, or are they going to syndicate them, where software programs pick up the information they choose to relay.  Are they going to check to make sure that your home is listed on all those websites that they are promising?
- Show me your active listing advertising online...live.  On your home computer you can google their listings.  The address of their listings should be on page one at the top of the page.  This should be the minimum that they are achieving.
- Do they return phone calls promptly.  Who handles their business when they are unavailable
- Will they contact you with daily/weekly updates.

- Are you  a new agent, Yes then ask
- Do they have a mentor?  What is the record of  mentor.
Are you a part time agent  
Yes, then ask
- How many hours can they dedicate to real estate?
- Is he/she able to answer their phone on their other job?
Questions to ask a Real Estate Agent - Realtor in Virginia Beach   before you hire them.
Questions to ask before you list your home in Chesapeake Virginia.

I am not trying to bash top producers, as I know many capable ones, but I have found that some of these agents make it hard to show the homes they have listed.  Although systems make  life easier and profitable for  listing agents, it does not always benefit the seller.   I know top producers who answer their own phones, and their assistants have visited every home they have listed.
I also know new agents who although part time, are committed to making the transition to their real estate careers, and have a knack for the business that agents with years of experience lack.

To SELL or BUY  Real Estate in Virginia Beach, Chesapeake or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

Questions to ask a Real Estate Agent - Realtor in Virginia Beach   before you hire them.
Questions to ask before you list your home in Chesapeake Virginia.  was first published on Hampton Roads Real Estate VoiceCopyright © 2010 By Tere Rottink, All Rights Reserved.

To SELL or BUY  Real Estate in Virginia Beach, Chesapeake, Norfolk, Portsmouth or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

Thinking of using a Limited Service Agency in Virginia Beach - Chesapeake- Norfolk- Portsmouth - in Virginia

Are you thinking of using a Limited Service Agency?  Get the facts first. As I renew my license, I have to retake classes on Limited Service agency, and I couldn't continue with my day without commenting on what I am learning.   I have only  had to deal so far with two sellers in a limited service agency situation, and it made me very uncomfortable. ( I have to admit that both my buyers got very good deals due to my negotiation skills and inexperience of the sellers) 

I don't like what I am re-learning.  If I brought you a buyer and have to help you the seller close the deal, which I had to do in both cases, so that we could actually (close the deal) purchase the house, I opened my self to liability. The good news are that in some states the limited service agency agents can give a la carte services having agreed upon how much you will pay per service.  For example, if you the seller asks them questions you pay an extra pre-agreed fee.  But.... if this agent does mostly limited service Agency  contracts, what kind of experience does he/she actually have?  In both my experiences the sellers chose to go it alone.

This is as bad as the For Sale by owner photo in one of my previous posts.  Or the For sale by owner that a client of mine was trying to buy, and the seller told us detailed information that made the buyer walk out and never come back.  It was minor stuff, but the way he talked about it changed my buyers mind completely.

Is Limited Service Agency in  Virginia Beach - Chesapeake- Norfolk- Portsmouth - in Virginia  a good thing?  In my humble opinion, only, if the seller is a good sales person, a great negotiator, and has lots of real estate knowledge.  Wait, that sounds like a professional real estate agent or investor.  So, If you are looking to sell your home in the shortest amount of time, for the most amount of money  do your self a favor and get professional Real Estate representation.  What you think you will save in commissions, you will regain in price sale, negotiation skills from your agent and peace of mind knowing that every thing you did is legal and you sold your home in the shortest time, for the most amount of money and left the worries, hard work and hassle to a Real Estate Professional.

To SELL or BUY  Real Estate in Virginia Beach, or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

"Thinking of using a Limited Service Agency in Virginia Beach - Chesapeake- Norfolk- Portsmouth - in Virginia " was first published on Hampton Roads Real Estate VoiceCopyright © 2010 By Tere Rottink, All Rights Reserved.

Mid-Atlantic Home & Flower Show in Virginia Beach

Today begins the Mid-Atlantic Home & Flower Show in Virginia Beach.  I am in my way to the show this afternoon.  I love Home shows.

Gardens, gardens and more gardens! Alive with an impressive variety of blooming flowers and thriving plants - you will find something just for you!
Presented by the Tidewater Builders Association and The Virginia Horticultural Foundation, the show is part of The National Home and Garden Show Series with PremierHomeShows.com, sponsored by Better Homes and Gardens magazine.

Pat Simpson ot "The weekend Gardener" will be one of the speakers..  An expected 25,000 attendees should be there this weekend.  

Some of the highlights of the Mid-Atlantic Home & Flower Show in Virginia Beach are:

-"Little Projects...Big Impacts! Easy and Inexpensive Projects" at 12:30 p.m. Feb. 6 and noon for Feb. 7 practical and inexpensive ways to increase a home's comfort, functionality and value, including at least three DIY projects costing $1,000 or less.
-"Name That Tool" presentation - at 2 p.m. Friday and 3 p.m. Feb. 6 and 7.
-"Landscape Design for Homeowners" and other presentations by Renegade Gardener Don Engebretson, "Dr. Lori" Verderame's antique appraisals (one free per ticket-holder), and hourly educational seminars by expert horticulturists and gardeners, including design demonstrations.
"Living art"  with Pearl Fryar.  Topiaries, pruning, finding your own gardening style and more during several presentations at
12:30 and 3:30 p.m. Friday, 1:30 and 4:30 p.m. Feb. 6 and 1 p.m. Feb. 7.

Make sure to visit the stand of my new favorite company.  "The Bath Guys"  I will be writing a blog about them soon, as once of my clients saved thousands of dollars on their bathroom remodeling.  

It starts today Friday at 10AM until 9 PM the same as Saturday and on
Sunday From 10 AM to 5 PM

Admissions are $10 for adults with children 6 and under FREE.

Active-duty military and senior citizens receive a $3 discount.

To SELL or BUY  Real Estate in Virginia Beach, or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

Mid-Atlantic Home and  Flower Show in Virginia Beach.  Join the fun! was first published on Hampton Roads Real Estate Voice Copyright © 2010 By Tere Rottink, All Rights Reserved.* Mid-Atlantic Home and  Flower Show in Virginia Beach.  Join the fun!

Listen - listen- listen Listen, pay attention,  Listen pay attention.

 A common theme of blogs that I comment on are the ones that address other people listening and not paying attention to what they are being told.  When I am with clients, I make it a point to listen to everything they say.  Some times they are not even aware of what they feel.  For example they want a bargain, and they are willing to do some work, if we find a property that meets their needs.  Within minutes they tell me stories of nightmare minor construction work that they have done.  I try to make them aware that a fixer upper is probably not some thing they want.  But, on a more personal note,

 I want to share two stories.

One.  When I was very young in my early 20's I considered selling my home.  I put it on the market with a real estate agent, but I informed him of my hours which included my night job.  I slept until late because I was up until late.  I told the agent to make sure and make appointments.  Well, one day I was awaken by strangers in my bedroom.  Disoriented, I realized that these were buyers, I asked the agent if he had made an appointment, and he said that since he had tried to make one, but unable to reach my agent, he thought it was ok to come in to my home.  Those were the days of books and not computers, but I had seen the bolded "must make appointment before showing."  I was very angry opened the door and asked them to leave.  I felt sorry for the young couple, but I couldn't believe the attitude of that young "Mercedes driving" agent.  My home was very humble, and I could see his face of entitlement.  Well, maybe I was also sleep and disoriented.  I took the home of the market and kept that home for another decade.

Two.  I was talking to my sister yesterday and she told me of the sad news of a close relative  who is in her deathbed.  Thanks to Facebook, I am now in contact with most of my relatives, so I proceeded to send a FB note letting her children know of how sorry I was for these sad news.  Some how the name of another cousin was in my mind, so I decided to send him a quick email saying hi and how are your brothers and sisters and mother.  It sort of had a recurring joke between us.
Here is the punch line.  Those  cousin's mothers share the same name.  And the dying mother is the one of the second cousin.  I have to admit that I have laughed at my stupidity, and inability to listen because I assumed that the first aunt that came to mind was the sick one.  How sad it is to see my relatives passing away.  Reminds me to keep in contact more often, and yes I feel very guilty for laughing.
Very heart felt apologies are on their way.
.

To SELL or BUY  Real Estate in Virginia Beach, or Hampton Roads visit my website. http://www.tererottink.com/  visit my Blog at HamptonRoadsrealEstateVoice.com 

Call me at: 757-502-5324

 Listen, pay attention,  Listen pay attention. was first published on Hampton Roads Real Estate Voice Copyright © 2010 By Tere Rottink, All Rights Reserved.*   Listen, pay attention,  Listen pay attention.