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If you are a seller, the commission will be stated in the listing agreement. I highly recommend AGAINST asking for less than a standard commission. Why? Because Realtors work on commission, if there are 10 properties at one commission and yours at a lower commission, which one do you think they will show? To really spark interest of other Realtors, put an additional ½ point on the buying side. If you are above the norm, you will get first showings.
If a Realtor is willing to list at a commission less than standard, you must wonder what they will be cutting, advertising? marketing? If they can’t negotiate for their own paycheck, how strong will they be at negotiating for you?
If you are a Buyer and you enter into a buyers agreement with an agent, you are assuring them that they will make a fair commission regardless of what the Seller is willing to pay. You may have to pay all or part of the commission to ensure you are being exclusively represented by the Buyers agent during the transaction. Have your Buyers’ agent explain this to your satisfaction.
May 21, 2009
Explaining Designations. What is an e-Pro?
What is an e-PRO—— and why should you use one?
A short guide for the Internet consumer
When you're on the Internet, you don't have time to waste on endless searches for useful real estate information. You want to get things done quickly and without hassle. So chances are you'd like a real estate agent who
Answers e-mail promptly and professionally.
Respects your on-line privacy.
Offers home listings and other Internet tools to help you find or market a home.
Enter the e-PRO.
An e-PRO is a REALTOR® who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS®, the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, e-mail, on-line tools, and most of all, what today's consumer really wants.
What does all this mean to you? There are several benefits of working with a certified Internet professional.
More privacy
Are you reluctant to give out contact information through the Web for fear of being pestered or spammed? e-PROs understand. They've learned the Web isn't just a place to do business; you need information from someone you can trust.
That's why e-PROs respect your privacy. They respond quickly to your questions, but don't send you unwanted communication. And they protect your personal information.
Less hassle
Tired of struggling to find information? e-PROs are more likely to have access to the latest Internet utilities, making your life easier. These tools may include:
On-line home tours
Instant access to comprehensive neighborhood data
Extensive property listings
Immediate e-mail notification of just-listed homes meeting your criteria
Referral networks and on-line forums, where e-PROs can quickly find information——even potential buyers——from other e-PROs
Newsletters on current real estate conditions in your area
Electronic faxes sent to you by e-mail
Advanced software, PDAs, and laptops to find you answers on the spot
The result: you get more information, more easily. With electronic files, you have less paperwork to deal with. And since your agent uses e-mail, you can even eliminate phone tag. The e-PRO streamlines your entire transaction, from showing to closing.
Less expense
An e-PRO's access to advanced technology can save you considerable expense. You have more tools to find or market your home, so you're likely to get a better price. With on-line home tours, you reduce in-person showings——and the costs involved. And by using e-mail, you save money on long-distance calls and fax charges.
Relocating? An e-PRO is ideal for you. With the tools to do your research electronically, you can make a decision on a home the first day you're in town——or without traveling at all. You and your family save on travel costs. And after you've decided to buy, monitoring the sale by e-mail saves you even more.
Should you use an e-PRO? Yes——especially if you're an Internet user. In this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer. If you choose an e-PRO, it's a safe bet you'll get the kind of service you want——and need.
Yippee! I'm an e-Pro :)
A short guide for the Internet consumer
When you're on the Internet, you don't have time to waste on endless searches for useful real estate information. You want to get things done quickly and without hassle. So chances are you'd like a real estate agent who
Answers e-mail promptly and professionally.
Respects your on-line privacy.
Offers home listings and other Internet tools to help you find or market a home.
Enter the e-PRO.
An e-PRO is a REALTOR® who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS®, the e-PRO course teaches professionals the nuts and bolts of working with real estate on-line: Web sites, e-mail, on-line tools, and most of all, what today's consumer really wants.
What does all this mean to you? There are several benefits of working with a certified Internet professional.
More privacy
Are you reluctant to give out contact information through the Web for fear of being pestered or spammed? e-PROs understand. They've learned the Web isn't just a place to do business; you need information from someone you can trust.
That's why e-PROs respect your privacy. They respond quickly to your questions, but don't send you unwanted communication. And they protect your personal information.
Less hassle
Tired of struggling to find information? e-PROs are more likely to have access to the latest Internet utilities, making your life easier. These tools may include:
On-line home tours
Instant access to comprehensive neighborhood data
Extensive property listings
Immediate e-mail notification of just-listed homes meeting your criteria
Referral networks and on-line forums, where e-PROs can quickly find information——even potential buyers——from other e-PROs
Newsletters on current real estate conditions in your area
Electronic faxes sent to you by e-mail
Advanced software, PDAs, and laptops to find you answers on the spot
The result: you get more information, more easily. With electronic files, you have less paperwork to deal with. And since your agent uses e-mail, you can even eliminate phone tag. The e-PRO streamlines your entire transaction, from showing to closing.
Less expense
An e-PRO's access to advanced technology can save you considerable expense. You have more tools to find or market your home, so you're likely to get a better price. With on-line home tours, you reduce in-person showings——and the costs involved. And by using e-mail, you save money on long-distance calls and fax charges.
Relocating? An e-PRO is ideal for you. With the tools to do your research electronically, you can make a decision on a home the first day you're in town——or without traveling at all. You and your family save on travel costs. And after you've decided to buy, monitoring the sale by e-mail saves you even more.
Should you use an e-PRO? Yes——especially if you're an Internet user. In this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer. If you choose an e-PRO, it's a safe bet you'll get the kind of service you want——and need.
Yippee! I'm an e-Pro :)
May 20, 2009
Explaining Designations, PMN
PMN stands for Performance Management Network. It is a designation earned through the Women's Council of Realtors and recognized by the National Association of Realtors.
The Women's Council is a network of successful REALTORS® empowering women to exercise their potential as entrepreneurs and industry leaders. The PMN designation trains Women's Council members to be better business people and encourages them to refer business to other Women's Council members.
Following are the requirements to obtain WCR's Performance Management Network Designation
1. Must be a REALTOR®, REALTOR-Associate® or REALTOR® Association Executive.
2. Must successfully complete at least three Performance Management Network courses.
"Effective Negotiating for Real Estate Professionals"
"Networking & Referral Systems"
"The Business of Your Business: People, Planning, Money & Management"
"Harnessing the Power: Skills Based Performance Management"
"NAR’s At Home with Diversity"
3. Must submit documented evidence of closed referral transactions (sales) within the past 24 months totaling 30 points as follows.
To/from another national WCR member - 10 points each
To/from a non-WCR REALTOR® ** - 5 points each
From a client - 2 points each
Earning the Performance Management Network (PMN) designation takes dedication and the ability to work well with others.
I am the 2009 President of the Florida Keys Chapter of the Women's Council of Realtors, and am proud to say I earned my PMN designation this spring.
The Women's Council is a network of successful REALTORS® empowering women to exercise their potential as entrepreneurs and industry leaders. The PMN designation trains Women's Council members to be better business people and encourages them to refer business to other Women's Council members.
Following are the requirements to obtain WCR's Performance Management Network Designation
1. Must be a REALTOR®, REALTOR-Associate® or REALTOR® Association Executive.
2. Must successfully complete at least three Performance Management Network courses.
"Effective Negotiating for Real Estate Professionals"
"Networking & Referral Systems"
"The Business of Your Business: People, Planning, Money & Management"
"Harnessing the Power: Skills Based Performance Management"
"NAR’s At Home with Diversity"
3. Must submit documented evidence of closed referral transactions (sales) within the past 24 months totaling 30 points as follows.
To/from another national WCR member - 10 points each
To/from a non-WCR REALTOR® ** - 5 points each
From a client - 2 points each
Earning the Performance Management Network (PMN) designation takes dedication and the ability to work well with others.
I am the 2009 President of the Florida Keys Chapter of the Women's Council of Realtors, and am proud to say I earned my PMN designation this spring.
May 14, 2009
Explaining Designations. What is AHWD?
AHWD stands for At Home with Diversity.
NAR's At Home with Diversity® certification is a 6-8 hour course that focuses on teaching those involved in daily real estate transactions how to best work with and serve diverse consumers. Learning how to transact business in culturally competent ways makes good business sense.
I followed this course with a copy of the book "Kiss, Bow or Shake Hands" to better prepare myself to be at home with other cultures and make other cultures feel at home during the buying or selling process.
NAR's At Home with Diversity® certification is a 6-8 hour course that focuses on teaching those involved in daily real estate transactions how to best work with and serve diverse consumers. Learning how to transact business in culturally competent ways makes good business sense.
I followed this course with a copy of the book "Kiss, Bow or Shake Hands" to better prepare myself to be at home with other cultures and make other cultures feel at home during the buying or selling process.
May 13, 2009
What's in a Designation, ABR
ABR stands for Accredited Buyers Representitive.
To earn the ABR designation a Realtor must complete all four (4) requirements:
1. Successful completion of the two-day Accredited Buyer's Representative (ABR®) Designation Course, including an 80 percent passing grade on the exam. After the Realtor completes this course they have three (3) years in which to complete the other ABR® designation requirements.
2. Successful completion of one of the ABR® elective courses, including an 80 percent passing grade on the exam.
3. Documentation verifying five (5) completed transactions in which the Realtor acted solely as a buyer representativentative (ABR®) Designation Course are eligible for credit. Documentation necessary for each of your five (5) completed transactions:
4. Maintain active and good membership status in the Real Estate Buyer’s Agent Council (REBAC) and the National Association of REALTORS®.
Why Use an ABR®? REALTORS® Experienced in Buyer Representation?
Buying a home is no small matter. Besides being the largest financial transaction you may ever undertake, it’s probably also the most complex. There are many good reasons to work with a qualified real estate professional—especially a trained professional who has earned the Accredited Buyer’s Representative (ABR®) designation, representing best-in-class buyer services. When you look for an ABR® before you look for a home, you’ll be served, not sold. Your interests become their interests. And you’ll be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services. Plus, a REALTOR® who has an ABR® Designation also has an established track record, with proven experience in representing the concerns of homebuyers. The ABR® Designation is awarded through the Real Estate Buyer’s Agent Council, or REBAC, which was founded in 1988 to promote superior buyer-representation skills and services. REBAC is an affiliate of the National Association of REALTORS® (NAR).
To earn the ABR designation a Realtor must complete all four (4) requirements:
1. Successful completion of the two-day Accredited Buyer's Representative (ABR®) Designation Course, including an 80 percent passing grade on the exam. After the Realtor completes this course they have three (3) years in which to complete the other ABR® designation requirements.
2. Successful completion of one of the ABR® elective courses, including an 80 percent passing grade on the exam.
3. Documentation verifying five (5) completed transactions in which the Realtor acted solely as a buyer representativentative (ABR®) Designation Course are eligible for credit. Documentation necessary for each of your five (5) completed transactions:
4. Maintain active and good membership status in the Real Estate Buyer’s Agent Council (REBAC) and the National Association of REALTORS®.
Why Use an ABR®? REALTORS® Experienced in Buyer Representation?
Buying a home is no small matter. Besides being the largest financial transaction you may ever undertake, it’s probably also the most complex. There are many good reasons to work with a qualified real estate professional—especially a trained professional who has earned the Accredited Buyer’s Representative (ABR®) designation, representing best-in-class buyer services. When you look for an ABR® before you look for a home, you’ll be served, not sold. Your interests become their interests. And you’ll be working with someone who has gone the extra mile by completing specialized training in delivering the best in buyer-representation services. Plus, a REALTOR® who has an ABR® Designation also has an established track record, with proven experience in representing the concerns of homebuyers. The ABR® Designation is awarded through the Real Estate Buyer’s Agent Council, or REBAC, which was founded in 1988 to promote superior buyer-representation skills and services. REBAC is an affiliate of the National Association of REALTORS® (NAR).
May 12, 2009
Explaining Designations What is a GRI?
This is my third installment on explaining the alphabet soup after a Realtors name. GRI stands for Graduate, Realtor Institute. To earn the GRI designation takes intensive training. The curriculum is made up of a minimum of 90 hours of coursework and includes specific information and issues important to a specific state.
What topics are covered in the GRI program?
* Sales Process: Business development, sales & marketing, customer & client services and cultural diversity
* Legal & Regulatory: Fair housing, brokerage relationships, contracts and environmental issues
* Technology: Communications, general technology and real estate business technology
* Professional Standards: NAR Code of Ethics & Standards, Arbitration and Mediation
Why Choose a REALTOR® With a GRI designation? Buying property is a complex and stressful task. In fact, it's often the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and the increasing sophistication of buyers and sellers require real estate practitioners to perform at an ever-increasing level of professionalism. So it's more important than ever that you work with an agent who has a keen understanding of the real estate business.
The GRI program has helped the best and the brightest in the industry achieve that level of understanding. GRIs are:
* Nationally recognized as top performers in the real estate industry
* Professionally trained
* Knowledgeable
* Dedicated to bringing you quality service
A GRI can make a difference. When you see the letters "GRI" after an agent's name, you can count on receiving the knowledge and guidance you need to make your transaction go smoothly. In short, you can count on getting the best service available from a real estate professional.
Oh, I have my GRI too. Call me today.
What topics are covered in the GRI program?
* Sales Process: Business development, sales & marketing, customer & client services and cultural diversity
* Legal & Regulatory: Fair housing, brokerage relationships, contracts and environmental issues
* Technology: Communications, general technology and real estate business technology
* Professional Standards: NAR Code of Ethics & Standards, Arbitration and Mediation
Why Choose a REALTOR® With a GRI designation? Buying property is a complex and stressful task. In fact, it's often the biggest single investment you will make in your lifetime. At the same time, real estate transactions have become increasingly complicated. New technology, laws, procedures and the increasing sophistication of buyers and sellers require real estate practitioners to perform at an ever-increasing level of professionalism. So it's more important than ever that you work with an agent who has a keen understanding of the real estate business.
The GRI program has helped the best and the brightest in the industry achieve that level of understanding. GRIs are:
* Nationally recognized as top performers in the real estate industry
* Professionally trained
* Knowledgeable
* Dedicated to bringing you quality service
A GRI can make a difference. When you see the letters "GRI" after an agent's name, you can count on receiving the knowledge and guidance you need to make your transaction go smoothly. In short, you can count on getting the best service available from a real estate professional.
Oh, I have my GRI too. Call me today.
May 11, 2009
Explaining designations, What is an SRES?
Todays' answer is to the question, what is the Real Estate designation SRES? SRES stands for Senior Real Estate Specialist. To receive this designation, the canadite must
1. Attend the two-day SRES® Designation course, including an 80% passing grade on the exam,
2. Maintain active membership in the National Association of REALTORS®.
3. Maintain an active membership in the SRES Council. The first year of membership in the SRES Council is included with the SRES Designation course fee. However, every year thereafter will require payment of annual dues of $99.
* The SRES® Designation course seeks to instill knowledge and understanding of and empathy for 50+ real estate clients and customers.
* Develop the business building skills and resources needed for specialization in the 50-plus real estate market.
* The SRES® Designation Program provides professional training and development suitable for continuing education credit.
SRES® Designation Course Learning Objectives:
* Learn distinguishing characteristics and trends of the 50+ market so that you can discern them in your own market area.
* Evaluate your market area attractiveness to the 50+ market
* Master the vocabulary of the range of housing options for the 50+ market.
* Learn the application of federal laws for Housing for Older Persons Act (HOPA).
* Develop business building outreach methods for communicating and gaining 50+ market share.
* Adapt methods for counseling the 50+ buyer and sellers.
* Stay focused on the transaction and avoid inappropriate involvement in family matters.
* Develop sensitivities to 50+ issues and priorities when counseling buyers and sellers, showing properties, and managing transactions.
* Develop services that win and sustain client and customer relationships and position you as a trusted real estate advisor.
* Assemble a team of experts to help you serve 50+ clients and customers.
* Learn about the uses, benefits, procedures, and issues involved in reverse mortgages.
* Learn about uses of pensions, 401k accounts, and IRAs in real estate transactions.
* Gain an understanding of how Medicare, Medicaid, and Social Security impact 50+ real estate decisions.
* Recognize mortgage finance and loan schemes and scams that victimize 50+ borrowers.
* Identify key life stages, viewpoints, and transitions in relation to housing choices.
* Recognize how a home can be adapted for safety, comfort, and aging in place.
* Help clients integrate disposition of real property into estate plans.
If you desire a Realtor with the above training, by all means, contact a SRES designee.
Oh, by the way, I am one. :)
1. Attend the two-day SRES® Designation course, including an 80% passing grade on the exam,
2. Maintain active membership in the National Association of REALTORS®.
3. Maintain an active membership in the SRES Council. The first year of membership in the SRES Council is included with the SRES Designation course fee. However, every year thereafter will require payment of annual dues of $99.
* The SRES® Designation course seeks to instill knowledge and understanding of and empathy for 50+ real estate clients and customers.
* Develop the business building skills and resources needed for specialization in the 50-plus real estate market.
* The SRES® Designation Program provides professional training and development suitable for continuing education credit.
SRES® Designation Course Learning Objectives:
* Learn distinguishing characteristics and trends of the 50+ market so that you can discern them in your own market area.
* Evaluate your market area attractiveness to the 50+ market
* Master the vocabulary of the range of housing options for the 50+ market.
* Learn the application of federal laws for Housing for Older Persons Act (HOPA).
* Develop business building outreach methods for communicating and gaining 50+ market share.
* Adapt methods for counseling the 50+ buyer and sellers.
* Stay focused on the transaction and avoid inappropriate involvement in family matters.
* Develop sensitivities to 50+ issues and priorities when counseling buyers and sellers, showing properties, and managing transactions.
* Develop services that win and sustain client and customer relationships and position you as a trusted real estate advisor.
* Assemble a team of experts to help you serve 50+ clients and customers.
* Learn about the uses, benefits, procedures, and issues involved in reverse mortgages.
* Learn about uses of pensions, 401k accounts, and IRAs in real estate transactions.
* Gain an understanding of how Medicare, Medicaid, and Social Security impact 50+ real estate decisions.
* Recognize mortgage finance and loan schemes and scams that victimize 50+ borrowers.
* Identify key life stages, viewpoints, and transitions in relation to housing choices.
* Recognize how a home can be adapted for safety, comfort, and aging in place.
* Help clients integrate disposition of real property into estate plans.
If you desire a Realtor with the above training, by all means, contact a SRES designee.
Oh, by the way, I am one. :)
May 7, 2009
Real Estate info. What is a CRS?
Some Realtors have an alphabet soup after their name. Most of the public has no idea what the initials stand for or what is involved to acheive the designation.
CRS stands for Certified Residential Specialist. To receive the CRS designation, the candidate must successfully complete 4 Elective course units and meet the production requirements. The production requirements are
1. 75 transactions within 5 years or $25 million in sales within 5 years and 4 core course units or
2. 25 transactions or $8 million in sales with a minimum of 10 transactions in 2 years and 6 core course units.
The coursed required usually run 2 days at a cost of $250.
There is an application fee of $190. and a yearly charge of $120. to maintain membership.
Less than 4% of Realtors hold the Certified Residential Specialist designation. Members often refer business to each other because having the designation indicates education and experience.
Do you have questions? Contact me.
CRS stands for Certified Residential Specialist. To receive the CRS designation, the candidate must successfully complete 4 Elective course units and meet the production requirements. The production requirements are
1. 75 transactions within 5 years or $25 million in sales within 5 years and 4 core course units or
2. 25 transactions or $8 million in sales with a minimum of 10 transactions in 2 years and 6 core course units.
The coursed required usually run 2 days at a cost of $250.
There is an application fee of $190. and a yearly charge of $120. to maintain membership.
Less than 4% of Realtors hold the Certified Residential Specialist designation. Members often refer business to each other because having the designation indicates education and experience.
Do you have questions? Contact me.
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