Fridays Frederick Foto

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One of our gag gifts at our gift exchange…

Its all greek to me

Have a great weekend!

November 30, 2007 · Filed Under Friday, Fun

3 Comments 

The Great Debate - Sex and Real estate

Airing out the laundry

The latest buzz on the real estate blogosphere is about Sex and Real Estate. It all started with a simple question - Can Sex sell Real Estate? by Shaun Mclane. His broker didn’t find his marketing approach appropriate and set him packing. I feel the question is a bit simplistic for the industry. Do we want to take a clearly unusual approach to marketing our seller’s homes and ourselves? Everyone knows sex sells…look at all the beer commercials, lingerie, and other male oriented purchases. I have read the comments most of the blogs that have talked about this today and you have mixed emotions all over the place. You can check them out here;

Real Estate is all about niche marketing and specializing your skills to meet the market needs. Sure Shaun pushed the limits on his marketing approach and even further his first amendment rights, but the broker had the last word. Sure being in business for yourself is about making bold moves in marketing. He has done that and I applaud his efforts. I just think you should pick and choose your battles. Blogging has become a new media in real estate. Legalities of the whole thing have not truly evolved. I have, since this discussion, added my own little disclaimer and have had this disclosure on my site for a little while. (Midori Miller had a large discussion about this on Active Rain)

So I ask…what say you? Is there a place for this niche marketing? I personally would like to attract a broader customer base with out using pictures of scantly clad women. I’m not saying that I don’t enjoy the Victoria Secret commercials…just sayin’ I’m not selling bras or beer. (not yet)

November 29, 2007 · Filed Under opinion

4 Comments 

Who pays for a Buyers Agent?

That is a common question that I get from first time home buyers. There’s a lot of information you should know about your buyers agent. One of the concerns you can push to the side is the fact YOU DON’T PAY THEM. Yep, they work for free…well not really. But Bob, right there in the Buyer Agency Agreement, it says I must pay them X%. Read a little closer…

Who pays the buyers agent
Click picture to enlarge

If the seller has agreed to pay the co-op to the broker that brings a ready, willing and able buyer, the seller will pay commission. This statement really applies to FSBO (For Sale By Owner) properties. There are occasions when the FSBO homeowner is reluctant to pay a commission. Your buyers agent should know this when he/she schedules a showing for the FSBO property. (Some agents charge a retainer fee for their services, this is the exception not the norm) The seller credit for the commission will show up on the HUD1 at closing as an expense to the seller.

Here is some of the minimum paperwork your buyer’s agent should go over with you on your first visit. At the very minimum he/she has to disclose to you two forms; Understanding Whom the Real Agents Represent and Consent for Dual Agency. I am not going to go into complete detail on both of these today. But a couple things I want to stress, these are required documents from our Real Estate Commission. They are non-binding. If I am to show you a house, I need you to understand a few disclosures.

Understanding Whom the Real Estate Agents Represent basically tells you the roles of the agent. An agent can either represent a seller or a buyer…NEVER BOTH. When you tell your agent something in confidence, it is theirs to keep and respect…not to be discussed with others. Your agent is to represent your best interest. I like to think of it as…it is my job to keep the most amount of money in your pocket and protect you from future damages as best as possible.

Consent for Dual Agency has to deal with the brokerage company. Your buyers agent can show you any house that is listedUnderstand Dual Agency in the MLS or on the internet in the area in which that agent is licensed to sell real estate regardless of who list the home. Example: I work for Long & Foster Real Estate, Inc. I can show you any house listed with RE/MAX, Coldwell Banker, Keller Williams, Weichert, Real Estate Teams, or any Frederick Real Estate Companies. Agency is actually with the broker of record not the agent. Now where dual agency comes into play is with an agent showing you homes listed with their brokerage. (me showing you other Long & Foster homes) what you have to understand; Long & Foster has an agency agreement with the Seller and the Buyer on the same house. They no longer have exclusive agency with the buyer and the seller. In my opinion, the seller’s agent and the buyer agent are two different people and protect their clients information from everyone in the office, but you must be informed that the chance exist that it can be compromised in the same office. Without consent for dual agency, two things can happen, either the property can be shown on behalf of the seller (seller’s best interest in mind) or agency is broker for either the buyer or the seller and representation is made with another brokerage. Either way you need to know your options.

A good buyers agent will alway look out for your best interest. They will walk you through the whole process of buying a home. Stick around are read more about the buying process.

Here is an example packet prepared for a Buyer. Read through the documents. This is not an all inclusive list of documents, there will be more as preferred by the buyers agent. I am not a lawyer and do not offer legal advice. If you have questions concerning the legal aspects of the documents, please consult an attorney for advice. If you have questions about real estate…call me.

November 28, 2007 · Filed Under Buyer, Frederick MD Real Estate

2 Comments 

Market Conditions in Brunswick MD

Brunswick MD Real Estate

This little town is nestled along the Potomac River just off Route 17. A very popular area as the prices were increasing in the mid-2000s, Brunswick MD real estate has been a test of time. The attraction to this area was two fold; Affordable housing prices and commuter convenience to Washington DC.

As the gas prices began to soar, the first time home buyers from the Greater DC area started to flock to the area. New homes were build in Galyn Manor and existing home prices began to sail. Plenty of speculators dumped money in remodeling the older homes and offered them at attractive prices.

This sleepy little railroad town has its own MARC train stop and a few quick commuter routes to Northern Virginia and other major metro areas like Rockville and Bethesda. Located about half way between Leesburg, VA and Frederick, MD, this makes Brunswick attractive to the avid shopper. You have the Leesburg Outlets only 18 miles away and in the other direction, you have FSK Mall in Frederick.

Market Conditions in Brunswick MD 11/26/07

  Active Under Contract Sold in last 90 days Ave. Days on Market
Condos O O O NA
Town Homes O O O NA
Single Family 38 1 7 193
Total 38 1 7 193

*data is under review due. I will update if needed.

Also noteworthy about the area, there were only 5 homes in preforeclosure status, 5 in foreclosure status and only one Bank Owned property in the Brunswick, Knoxville area as of 11/26/07.

Have a great day.

November 26, 2007 · Filed Under Frederick Market Conditions, Market Condition

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