Why I Chose Real Estate...It Really Was an Accident!

Why I Chose Real Estate...It Really Was an Accident!

As a little girl, I only wanted to be a nurse so I could take care of my daddy. My mom worked 7 days a week in our restaurant but I spent most of my time with my dad. He was a diabetic, among other things, and I used to give him his insulin shots. Now this doesn't sound like a big deal but you have to understand he passed away before my ninth birthday. See if I was a nurse, I could have saved him. We used to go for ice cream...and I could keep a secret. Shhh...he wasn't supposed to have sugar.                      

  This is a photo of my mother holding me as a toddler.
  Chubby cheeks are part of this contest.  
                                               
  Dad passed away when I was only eight years old.



                                                                                   
  Receiving my nursing diploma. Yeah! I am an RN!


And then I made a wish and Lee came true. The two photos below were from our honeymoon. We have been married 15,766 days! Yes, we still count the days and they are going by way too fast!

My Best Close Ever and Forever

                                                                                 
Three years after our wedding, we had a our wonderful daughter, Erica, and I stopped my nursing career. That was after being named the youngest Head Nurse at Sinai Hospital.

Being a 'stay at home mom' I took up my second career..that of a ceramic and porcelain artist. There was a full studio in my home where I custom designed pottery for clients, The Design Center in DC, the Symphony Decorator's Show House, plus doing window displays for fine jewelry stores. My porcelains were used to drape the strands of gold, diamonds and pearls over the art pieces.
I even made closing gifts for some of the real estate agents.

                                        
Why I Chose Real Estate...It Really Was an Accident!

Then there was the accident...rear ended while driving and had neck and back issues and was told I needed surgery. Since they could not guarantee the use of my hands...I decided against it. They advised me not to lift more than five pounds. Whoa! My box of clay weighed 50 pounds..no more ceramics for awhile.

During this time I get a "cold" call from a former nurse asking if I wanted to sell my house? I wondered why she would be interested. It was because she was now a Realtor®.

I had been helping people write ads for their homes and finding houses in the area for friends. For that service, I got beautiful thank you notes.  This former nurse told me...I could get paid for doing that and she wanted my referrals.
That same week, I signed up and  took a Real Estate course  to "tide" me over until I could get back to the clay which I loved.

That was in 1990 and many of my former patients, their families and owners of my artwork are now my real estate clients. I love walking into a home and finding one of my custom pieces out on display. I love being able to use my nursing background especially the psychology that is needed for the stress of moving. I love being able to incorporate my nursing, my ceramic art and my love of real estate  into my wonderful life!

Why I Chose Real Estate...It Really Was an Accident!

The Active Rain Realtor Nationwide Survey about Maryland.

The Active Rain Realtor Nationwide Survey about Maryland.

I COULD HAVE SHOULD HAVE BOUGHT In 2010

My market area is Baltimore Maryland and it is moderate for this time of year.

My Current Housing Market Conditions... Our sellers are reducing prices and buyers are buying.

Buyers are still calling but seem to be afraid to move quickly. Homes priced well below the market are getting more showings. Sales are occurring but at a slower rate.

Our condo market prices are down and there are some excellent buys. One reason ...homes are not selling at the same rate as a few years ago. Most of our condos have always been purchased with cash by sellers when downsizing. The proceeds from the big home goes for the purchase. For the first time buyer, it is more difficult, sometimes possible to get financing on these buildings.

For the first time I have two short sales in my inventory.

The calls from buyers are picking again after the " frenzy" prior to the tax incentive expiration. Sellers are having to be aggressive with their price in order to get more showings. We no longer can to do the three "Ps" (put a sign up, put in MLS, Pray) but have to think outside the box to expose listings so they stand out from the rest. Good internet coverage including blogging, unusual open houses and individual websites are a must for today's listings... as well as media advertising. Homes must be "seen" so they can be sold. My May and June have 6 transactions for settlement and I am negotiating a contract as I write .

With good inventory that is well priced, very low interest rates, it is time to buy in Maryland.

I think many people will be looking back saying I COULD HAVE SHOULD HAVE BOUGHT In 2010

The Active Rain Realtor Nationwide Survey about Maryland.

Listing the Rome Way

Listing the Rome Way

If I can name a book Real Estate the Rome Way, I guess a post named Listing the Rome Way is my prerogative.

This post may cause a bit of controversy after all the comments on Margaret Woda's How Long Is Your Listing Agreement?, My listing agreement is for 12 months ...but this is the way I work with sellers!

My real estate business is based entirely on referrals...friends, former clients, commercial agents, attorneys, business professionals and even former real estate agents.

Sellers come to me to help them with the sale of their property – I don't go find them. No FSBOs, no expired, no post cards, no mail outs – heck, I don’t even carry business cards.

For most of my 20 years I have had a waiting list - more listings than I can handle at a time. My absolute maximum is 15 listings, or so I said in my book Real Estate the Rome Way, however now I have broken my own rule; I have 20.

One of my questions before accepting a listing “Are you 100% sure you want to work with me?”

That does not mean, "Will you try me for a few months and then switch to another agent?"

I am selective about who I work with, and I commit to these clients. I expect the same commitment in return…it is a bond.

They are chosen over another client, agreeing to spend my time, my emotions, my knowledge, my blogging, my photography, my creativity, my expertise and my finances to get them the best price, the best deal, and the smoothest transaction.

There is no 24 hour out…that to me is not a commitment.

When asked how long my listing period is, my answer is “Until the house is sold."

Now that can depend on many factors - their timing, their terms, and of course their price, though price is not always the most important factor.

Many of these listings have been on the market previously for long periods of time and with multiple agents...making it an uphill challenge.

Frequently the properties are quite unusual - not the typical cloneonial (a word that I coined to describe Maryland’s best sellers - a 4 bedroom 2.5 bath brick two story home in the “right” school system.)

Cloneonials are not the fun houses for me, but of course I have sold many of them and done it very well.

My challenging properties are the historic church, the 10,000' mansion in Baltimore City known as the Chanukah house, the 28 acre former ostrich farm with a cantilevered contemporary, the huge house with the purple and gold motif, the contemporary with no basement, a swimming pool and backing to the highway wall, or the house right on the railroad tracks.

These take imagination, creative advertising, speaking to many potential buyers and agents, and even an unusual open house! You do remember the video of the First Active Rain Open House is here!

How long is my listing agreement?

Until the house is sold!

Listing the Rome Way.

Don't Do Anything You Don't Want To

The other day I was talking with a older person whose family was trying to get her to move. I found myself saying emphatically: "Don't do anything you don't want to. But DO everything that you want to." And when I was done, it felt good and right.

I thought about how this simplifies my business and my life:

• I don't want to work with clients who are unpleasant to me or others…so I don't. Life is too short for that kind of aggravation.
• I don't want to cut my commission (which would mean that I would have to cut my service)…so I don't. I get one of the highest full service commission rates in the area, and my clients know they get top value.
• I don't want to drive buyers all over town looking at houses…so I don't. I work almost exclusively with sellers.
• I don't want to ever regret choosing real estate…and I don't. Where else can you work with interesting people, help them reach an important life goal, and be part of a nation-wide community of professionals who become friends?
• I DO want to be assured that my clients get the best possible service. That's why I answer my phone, make my own appointments, and am there for most showings.
• I DO want to create referral business. That's why I use my experience in nursing to nurture clients and help them through the high-stress time of buying a home.
• I DO want to help new agents, the ones who want to learn and stay in the profession for the long haul. That's why I mentor when I can and speak at new agents' training sessions.
• I DO want to sleep well. That's why I don't cut corners or take shortcuts. They just are not worth it.
• I DO want to spend time with my family and friends. That's why I carve out time when I am not available to clients, and never forget who is most important in my life.
• And I DO want to keep growing and learning, even after almost 20 years in the business. That's why I keep taking courses, getting new designations like ACRE, and why I'm writing a book.

I can imagine some people shaking their heads and saying, "That sounds fine, but in business sometimes you have to do things you don't want to." No, you don't. There are always alternatives; you have to figure out what they are and then decide what you will do.

And then there are those who are thinking, "I want to DO those things, too, but the business is different here. I can't make it if I take time off for vacations or chasing people down to make appointments." That's your choice. Just consider what you may be missing by not spending the time with your family, or not giving yourself a rest. And, I actually save time and aggravation for my sellers by making my own appointments.

Like most basic principles in life, it's pretty simple.DO everything you want to, and DON'T do anything you don't want to.

Full House!

How is real estate like poker? ”It takes minutes to learn the game and a lifetime to master it.”

It's true of poker, and I think it is also true of real estate and many other professions.

My friend who is a personal trainer saw Oprah interviewing someone who lost lots of weight and used a personal trainer to help get her back in shape. The newly slim woman loved the trainer so much and praised the way she helped. Not satisfied to just tout the wonderful talents of the trainer, she decided to take a few courses, learn how to train others, and become that person who gets accolades. She wanted to be a personal coach, helping people to change their lives by losing weight and exercising. Her intention was good. But the chance of her hurting people through inexperience is much greater than of helping them. Intentions do not make you an expert. Watch a professional ice skater glide across the ice, spin, and leap. Then watch an amateur and see that it is soooo hard. Years of practice, study, and training, are needed before you can make it look easy.

I have found that many buyers and sellers decide to go into real estate after their own transaction. They think, "So much money for doing so little…." or so it seems. I am asked for mentoring, leads, coaching, technology tips, what classes to take…and I give this advice freely. I have dozens of clients who have gotten their real estate licenses because I made it look so easy.

Many times I meet these agents in classes that I am speaking at or attending. They are surprised. Why is an established agent still going to these seminars? Too often, they just don't get it – that making it look "easy" takes years of practice and experience along with continual learning.

How many of these former clients have made a success in real estate? How many have even made it through the first year? How many have sold the house that I helped them buy within that year? How many have blamed the poor market on not being a success? I think you can guess.

Many people can take the classes, pass the exam, and do all the things an agent "should" do. But no matter what new gee-whiz technology or sure-fire system you want to try, there is still nothing like good old, roll up your sleeves experience. It takes time and effort to acquire, but you can see the dividends in loyal clients, repeat business, and income that reflects all that hard work.

Accelerated Marketing for a Decelerated Market

Is there anyone out there who hasn't felt the change? That engine that was roaring ever onward and upward ran out of gas, and now we're coasting. Okay, we have a different market, but that doesn't mean we can't still get people to look at and buy houses.

You might remember my earlier experience with what I call "Accelerated Marketing." Yes, it's an auction, but it's more than that. Case in point – yesterday on Stevenson Road in Baltimore. We decided to apply Accelerated Marketing to this wonderful stone rancher, along with five other properties, all scheduled for January 10. January in Baltimore can bring anything from balmy sun to slushy snow; we ended up in between with a kind of raw, overcast day.

You can imagine how delighted I was, then, to see a crowd of at least 60 people show up for the walk-through and auction on Stevenson. There were several bidders, and even though we did not reach a level that met the buyer's reserve, I still count the event as a success. Many more people saw the house than ever before, and people who are willing and able buyers know about it now having taken the time to walk through. For this house and the other four, I was careful to set low expectations with the owners – we went into the day with the expectation that none of the properties would sell. When your goal is exposure and activity, the sale becomes a bonus.

What happened with the other five properties that had their own Accelerated Marketing events? As we expected, the turnouts varied at Milford Road, Strathmore Towers, Old Post, Griffin Way, and Autumn Frost. But we still had good success and then some - two of the five sold! There are two more events tomorrow, one in country-like Havre de Grace and another in picturesque Dickeyville. Then we wrap up this series on Tuesday at Clarks Lane.

I'm feeling very positive about this way of marketing real estate. As we do more of these I'll be talking again the advantages for both the seller and the agent. I see it as a win-win in a time when we hear too many lose-lose stories.

Don't Believe the Gloom and Doom!

You can't get away from them – the "experts" who are eager to declare the worst. Yesterday's Baltimore Sun included this charming statement from an economist: "The existing-homes market is now in free-fall." But I also saw an article that appeared in the online Ventura County Star in late September, and it has one of the best discussions I've seen of the immense gap between the stories of real estate market meltdown that seem to be everywhere, and the reality you see when you step back a bit and take a calm look.

The article talks about what they are seeing in Ventura County which is in Southern California along the coast between Santa Barbara County and Los Angeles County. But much of what is true there is true elsewhere in the country, including my area of Maryland.

The gist of it can be summed up in a paraphrasing of Mark Twain's famous quip: "Don't worry, reports of the industry's impending doom are highly exaggerated. Buyers are still buying and sellers are still selling."

Sure, the market isn’t what it was a few years ago, but there are many in the real estate business who believe the market was due for a correction, just as the stock market often drops when Wall Street believes that stocks are overvalued. The thing is, there are many positives in the market now. Mortgages are still available at historically low rates, and the economy is sound. There are still special programs for first-time buyers as well as safe and creative financing for other buyers.

Like averages (which we know are meaningless!), headlines tell only a small part of any story. Certainly getting a good price for your home in a sale is important, or getting a great deal if you are buying. As the article points out, "People need to look at their own housing needs and not listen to others. You don't buy a home to make money, you do it as a place to raise your family, to put down roots, to feel secure."

Housing markets go through cycles. The down markets follow up markets which follow down markets. People who have been in the industry long enough recognize they are as natural as the seasons. And the real estate professionals who have built their careers on service and value will find the ups just as exciting as everyone else, and the downs not nearly so deep.

A True Type E Listing - Lightning Speed!

Some days it just all comes together, and it feels soooo good! A couple of days ago I got a call from an agent who works at a retirement community in Florida. She was hoping to improve a situation for sellers who are moving into the community down there. This agent has always referred to someone else in the Baltimore area, but these sellers were not impressed by his service and lack of follow up - the house had already been on the market for 92 days. The agent in Florida found me on the internet, I think because of an article I wrote about Pikesville.

That's right, by sharing information about my area I attracted attention from hundreds of miles away. Anyway, I told the Florida agent that I'm booked solid, but then learned that the agent has known these sellers for three years, that they've already bought and settled on their new home in a 55+ community called The Villages, just waiting to sell their home in Pikesville so they can resign their jobs and move on. I could imagine the pressure on the sellers, and so I called them just to touch base.

Well, the phone call turned into a visit when the sellers and I connected in several ways. First, they are both RNs, and I talked about how I approach real estate as I did nursing. Find out what the "patient" needs, and make it better. The three of us agreed that we work for the satisfaction of how we continue to heal the situation. By the time the evening was over, I had a signed listing, and had measured and photographed the interior. It's just too bad they had a stager come in who made them remove a lot of their stuff and send it to storage…like the dining room furniture! Wonder what was he thinking?

The next morning I was back for the outside photos, got the listing into the MLS, and sent the photos to my computer tech who put them up on the my website. The listing blog followed right after. Whew! I made up flyers and delivered them the next day – the sellers love the flyers, love seeing their house on the website, and love that they can google their address and the property comes up number one. I have to admit, I think it's pretty neat also.

What was that second connection we found? Of course, one of the sellers is a Type E personality right up in the Mystic range. Guess I shouldn't be surprised that this might have been my fastest listing time ever from phone call to MLS. Hoping to make it a real record breaker by closing that circle with a contract soon! Stay tuned….

What Real Estate is All About

Sometimes we forget what business we are in. It's easy to be caught up in listing and showing and negotiating and settling. But that's all just the mechanics of our business. Today I got a delightful reminder that we really do is make dreams come true.

A few months ago, I wrote about a house that was a "disastrous, dirty, cluttered, smelly, mess" and could only be sold after it was stripped bare – carpets, appliances, window treatments, everything had to go. The buyers didn't think they could ask for that, but the sellers were delighted to take their "stuff" with them, and both ended up happy. The young couple who bought the home then painted, replaced flooring, did over the kitchen and bathrooms, and enjoyed their five-bedroom brick home for five years.

Last fall we put this home on the market and it found new owners, a family with two young children. This house that was once a disaster area has become a family's dream home…again. They are so happy and wanted to show me how they are doing with their own decorating. The children's rooms didn't need any change – the girl's room is pink and white with a colorful border, and the boy's is Spiderman-blue. Colors in the bathroom they share work for both children.

New landscaping has made the front more inviting, and wicker furniture makes the front porch a pleasant place to relax. Inside, the still-new kitchen is warmed by decorative accessories above the cabinets. Some new furniture and a carpet remnant make the dining room inviting, and now the owner isn't bothered anymore by the parquet floor that she doesn't much like. The family room with its brick wall is warmer now with the sofa and comfy pillows. Some of the rooms, like the living room, are still a work in progress, but you can see that this is a warm and welcoming place.

I am so proud of putting this family in what turned out to be their dream house. Knowing they are happy and that they wanted to share that with me – it was a feel-good day!

And that is the business we are in.

Internet Only Advertising? Not For Me!

An article I read recently seemed to take the position that anyone who spends money on print advertising is wasting money, and that those old-fashioned ads that stain your fingers may make the sellers feel good but they don't sell houses.

Call me old-fashioned then, but I do both print and Internet advertising. I know that not everyone who buys a house – or who is helping someone look for a house – is in their 30's. There is another generation and they do read newspapers, and they do need print ads. This generation includes people with lots of disposable income who are looking for nice homes. It also includes people with children and grandchildren who may need a new home, and these parents have time to help their kids with the search.

Why would you ignore an entire group of potential clients by refusing to talk to them in the way that will reach them? Sure, many of them are tech savvy, but they often find us on the web after seeing our names and faces in newspapers, in glossy magazines, or hearing us on the radio.

It's true that many potential buyers start a home search on the internet before they ever contact a Realtor®. But that doesn't mean that just having a Web presence is enough, any more than doing the Three P's is enough. Placing the listing in the MLS (which is NOT the same as advertising on the Web, though some agents think so), Placing a sign in the ground, and Praying – these won't sell houses.

Knowing the market, taking the time to listen and learn about the client's needs, working my wide network of connections and resources, investing my time and talent in each transaction, and yes, placing ads in all appropriate media, that sells houses. Sure, you can Google me and my properties anytime. I'm there. But I'm also in the Merchandiser, the Baltimore Jewish Times, and the New York Times when the property needs that.

Some sellers like to see their home in the paper, others love to see it on their computer. Whether it's a big ad on your web site or a print ad in the local paper, how can it be wrong to do whatever it takes to reassure your seller while you market their home?

The full-service commission that I receive does pay for the print ads, for the Internet ads, and for the many hours of my time. It is recognition that I apply all my knowledge, skill and experience to getting the best price for the home and making sure the seller is happy. This advertising also keeps my name and face in front of the public and keeps a future waiting list of sellers.

So forget print advertising? Not at this time!