jjdsite blog

Five Star Awards – 2008 “Best in Client Satisfaction"

Fri, 27 Jun 2008 00:00:00 -0400

This year, I am elated to be recognized by Five Star Real Estate for the 2008 “Best in Client Satisfaction” Award. This special acknowledgment will appear in the July issue of KC Magazine. KC Magazine is a relatively new magazine featuring the ultimate in luxury living and fine home design. It is a monthly publication, which is directed to the affluent, as well as upwardly mobile consumers.

When I inquired as to how realtors in the KC Metro area were selected, I was told….”The resulting list of 2008 FIVE STAR Real Estate Agents is an elite group, representing less than 7% of the real estate agents in the Kansas City area. In December, Crescendo Business Services LLC (Crescendo), a Minneapolis, MN based company, mailed more than 30,000 evaluation ballots to Kansas City area residents who had recently purchased homes. On the ballots, recipients were asked to select only real estate agents whom they knew through personal experience, and to evaluate them based upon nine criteria: customer service, communication, finding the right home, integrity, negotiation, marketing the home, market knowledge, closing preparation and overall satisfaction. By January, stacks of ballots had arrived and Crescendo began carefully scoring each real estate agent. Before finalizing the list, selected real estate agents were reviewed by a blue-ribbon panel. The blue ribbon panel consisted of realty company executives, professional and trade association officers and others directly involved in housing-related businesses.” – Crescendo Business Services LLC 2008.

Receiving this honor is a true testament that all my hard work and dedication to my clients is worthwhile. There are times in this business when you may wonder, “What am I doing here?” but then, even with the ups and downs, I really enjoy what I do and the people I help.

Realtor Commission Structures, Everything IS Negotiable…

Thu, 05 Jun 2008 00:00:00 -0400

I subscribe to the belief that "you get what you pay for", even in this crazy market. The commission structure is constantly being challenged these days by discount brokers, Internet sites and sell-it-yourself companies.
The average commission has dropped from 6.1% in 1991 to closer to 5.2% in 2007, according to Real Trends, a research firm. Everything is negotiable but you must not lose sight of “actual effort”. There are transactions that require very little effort from a realtor, we love those!
Many times there are those transactions that require a realtor to go above and beyond, around the corner and down the street; those are the ones where every penny is earned. As a buyer or seller, you should always recognize your realtors contributions toward managing the ins and outs from start to finish with your transaction. Discuss openly with your realtor the if/then scenarios in regards to “actual effort” vs. “commission structure”. Discount Brokerages offer basic services at flat rates mostly with very little effort toward your transaction. Realtors offer service, advise from experience, how to & why, and care through out the whole process. The choice IS yours.

Going once, going twice……..SOLD!! To the highest bidder

Fri, 23 May 2008 00:00:00 -0400

Real Estate auctions have normally been associated with distressed properties – foreclosures, bankruptcies and property owners in distress – and as a selling method of last resort. There is more to this story.

According to the National Auctioneers Association (NAA), the live auction industry grew by 5.3% in 2007; with residential sales between 2003 and 2007 growing at 46.6%. Auctions are fast. They’re convenient. And they minimize the holding costs that people are incurring today with homes being on the market an average of 8 months.

Auctions offer homeowners a number of advantages over conventional listings. In addition to the overall speed of the process, an auction allows sellers to time the sale. Also, with an auction, everyone thinks they can get a deal. A real estate auction tells you exactly what a property is worth at that particular point in time. When a group of willing buyers get together at a live auction, a competitive spirit kicks in, and some get caught up in the heat of the moment, driving the bid higher. Market value is determined by what a buyer is willing to pay.

The key to a successful real estate auction is marketing. This is where a blended method can prove very effective. The auctioneer (no sale at auction) and realtors (potential buyers identified at auction) work together to get one or more auction properties sold; a win/win for everyone.

Seller Payback

Sun, 10 Aug 2008 00:00:00 -0400

In today’s market, remodeling may not pay off as desired by sellers. Due to the rising costs associated with remodeling and slowing home appreciations brought on by this sluggish foreclosure crazed market, sellers need to choose projects wisely.

Projects with the highest national percentage of cost recouped include: Siding replacement (88%), deck addition (85%), window replacement (81%) and kitchen remodel (83%). With current market conditions, sellers do not need to spend a lot of money trying to sell their homes. Appearance IS important but clean and clutter free are important first impressions when viewing. Two areas a seller may want to focus on are the kitchen and the bathrooms. These areas are more likely to produce close to the desired return on investment. Here in the Kansas City area: siding replacement recoups about 70.7% of cost, a deck addition recoups about 69.5% of cost, window replacement (wood) recoups about 67.3% of cost and a minor kitchen remodel recoups about 68.8% of cost.

Many times, a seller will believe that their remodel justifies the sales price. The reality IS the market justifies their price. Unfortunately, a remodel is not anything extra, it can be considered normal maintenance on a property; basically keeping the property up to par with the current times.