This question was brought up in a real estate technology forum that I am a part of earlier this week.  Most of the brokers in the room, including myself, agreed that anything that aids in promoting our client’s listings and makes information more available to buyers is a good thing.  One of the higher ups in our technology company said that that there was momentum building nationally for brokerages to start pulling their listings from these aggregate sites.

Since then I’ve a come across a couple of videos that as far as I can tell lay both sides general assertions.  To be honest, I’m not crazy about either of the personalities in these videos.  Mr. Abbott seems to be fear-mongoring, while Mr. Glick is a little condescending .  That being said, there are fair points coming from both sides.

Here’s Jim Abbott’s spiel:

Here’s Fred Glick’s rebuttal:

I currently support the continued supply of information to the syndicates simply because the other point of view seems more self-protective than based in concern for the public.

However, Mr. Abbott’s points about the absense of regulation are valid.  Real Estate Brokerages are highly regulated to protect the public. We answer to Federal & State law, as well as self-imposed rules through our local multiple listing services.  Though listing syndicates must comply with fair housing law they explicitly avoid membership in MLS communities to avoid the complicated series of rules brokerages must abide by.  Those rules are important.  Many were birthed out of lawsuits that occured due to the lack of regulation in specific parts of our industry.  The public has been greatly protected due to the implementation of these rules and practices.

Mr. Abbott took an extreme stance in that his brokerage pulled all of their information from these sites.

I believe in a more reasonable solution.  In a nutshell, I think we would all be better served to work with these sydicates in creating a series of guidlelines (much less cumbersome than MLS rules since they aren’t actually practicing real estate) to ensure the accuracy and proper use of our data.  The syndicates need our information to make their sites viable and should be willing to work with brokerages on improving the presentation of that information.  There’s a lot that would need to be worked out but essentially it would be the best of both worlds in that we would keep information free on the web for buyers and sellers while ensureing its accuracy.

This issue is heating up and I’d love to know where the general public stands on it. Chime in if you have something to say!

The Seattle Times ran an article today that addresses that issue, citing some pretty outlandish behavior.  It’s a fun read.  It’s also somewhat timely.  I’ve had people broach this issue in somewhat different ways within the last 24 hours.  Let’s look at one of those experiences and play Good Neighbor, Bad Neighbor.

Yesterday I held open a fantastic modern, built green home in Seward Park. One of the neighbors came by while some other folks were in the house. We were all chatting when the neighbor offered up “I can tell you all about Bob if you’re curious…”

“Who’s Bob?” I replied.

The neighbor pointed at a house down on the corner that was in a state of disrepair and said “That’s Bob’s place.”

The neighbor was obviously concerned that Bob’s property was reflecting poorly on the neighborhood, particularly because Bob lives right next door to him!  Said neighbor, also clearly had a soft spot for Bob and didn’t want people’s imaginations running wild about what kind of “nut” he must be. So he carefully pointed out the “elephant in the room” that was Bob.  Here was a guy that cared about his neighborhood and his neighbor and I appreciate that.

Contrast that to an experience I had 3 years ago in Lynnwood. I was working with a lovely couple on a short sale up there. One day we were outside the house and bumped into the next door neighbor.  At first he seemed friendly and helpful. But each time we spoke with him he would become more mysterious:

“I would look underneath the house if I were you.”

“We know they replaced the floor and some rotton joists there…” we’d reply.

He’d continue, “I’m not saying anything… just look under the house.”

Seems harmless enough but being that we had already had full disclosure regarding rot that had been in the flooring/sturcture and how it had been remedied we didn’t need Captain Creepy stirring the bad feelings pot.  I don’t know if he thought Hoffa was buried there or what, but it was a bit much and were my clients not so well-informed they may have been spooked and the deal may have fallen apart.

Not helpful sir.

Thankfully my people were of sound mind and are enjoying their perfectly fine floor and the rest of the house to this date.

I could go on about vengeful neighbors blocking a potential buyer’s car in a driveway or go back into the story of a house I was watching last year that is sure to fall collapse soon (check out this post, you won’t believe the pictures).  Or how my neighbors (who are nice people by the way) have at least 7 vehicles and 2 yipey dogs.  Everyone has a story.

I’d love to hear some of yours.  If you have an interesting or funny story about a neighbor, let us know.  We’d all like to hear about it.

I have often heard it said that when holding an open house you should bake cookies or pop popcorn. This will supposedly create an atmosphere that will stir would-be buyers into a frenzy! By all accounts, these spendid aromas should create such longing for the home in the buyers’ hearts that they have no other choice but to write an offer on your listing!

Recently I gave this a shot.

After a few attempts, not only did I find this “frenzy” legend to be utterly false, I also found that people didn’t want my cookies. This I took personally.

“I mean c’mon people… they’re cookies… WHO DOESN’T WANT A COOKIE?!” … I cried on the inside as I shook with anger and stuffed my face full of remnant cookies.

It wasn’t like I was serving some store bought, flavorless, rock hard, teeth shattering discs. These things were oven fresh, hot, gooey, stain your hands with chocolate goodness, COOKIES …and nobody wanted them.

Questions rushed through my mind…

“Am I pushing the cookies too hard?”

“Are they not large enough?”

“Should I serve milk too?”

No answers were found.

Then it occured to me ” Ted, these people aren’t rejecting you and your delicious cookies. They’re just being polite.”

That’s when it hit me “I should create signs that invite people to enjoy my cookies”.

So that’s what I did.

Interestingly enough, cookie consumption has risen dramtically at my open houses since the signs have been installed.

Hopefully I’ll realize the cookie’s “frenzied selling power” soon as well.

(Also, there is another Valley Vibes concert happening Sept 9 at 7pm, that one will be at the Rainier Valley Cultural Center.)

City-grown fruit is a resource for the entire community. Because most residential tree owners can’t—or don’t—use all the fruit produced on their properties, much of it falls to the ground and rots.In addition, much of the fruit grown in urban landscapes is infested with preventable pests.

City Fruit works neighborhood by neighborhood to help residential tree owners grow healthy fruit, to harvest and use what they can, and to share what they don’t need. City Fruit collaborates with others involved in local food production, climate protection, horticulture, food security and community-building to protect and optimize urban fruit trees.

If you have a fruit tree and you need help harvesting, or if you would like to help harvest other people’s trees so that the fruit can be put to good use, contact them.

Over the past few years I’ve worked on a number of short sales.  These experiences have led me to a one general principle:  Banks are stupid.

For some of you this may be revelatory while others of you have unfortunately shared in the unpleasant experience of a short sale or foreclosure.

If you’re not familiar with short sales, a short sale is when a property owner sells a property for less than what is owed on it.  In order for the sale to close and ownership to be transferred, the bank must approve the sale since they hold the note on the property.

Working with banks through this process can be pretty maddening.  They are generally unresponsive, indecisive, and uneducated about the home and market. 

Just making contact and getting the bank to get back to you is usually the most frustrating part. 

Here’s what initiating a conversation with a bank on a short sale pretty much looks like:

Agent:  Hey Bank, remember those people you’ve been talking to that can’t make their payment and have to sell their house for less than what they owe?  Well, they found some people here that would like to give you a reasonable sum of money for the home. 

Bank:  …. (silence)…

Agent:  Baaank… we have some monnneyyy…

Bank: …(silence)…

Agent:  HEYYYYY BANNNNNNKKK!!!

Bank: … 2 months later … What?  Is someone talking to me???

Agent:  Yes. We have an offer on that property for $XXX.  Here are the statistics and comparable sales to show that this is a good price for the property.

Bank:  That makes too much sense… we want another agent who lives anywhere from 10-100 miles away to look at the property to tell us what it’s worth…

Agent:  Fine.                                             .

2 more months pass…

Agent:  Have you decided anything Bank?

Bank:  Yes.  The other agent that doesn’t live or work in your market says that the house is worth $50,000 more than this offer.  We are rejecting this offer unless the buyers come up $50,000.

Agent:  I’m going to the liquor store….

Narrator:  12-18 months later, after the foreclosure, the bank sells the home for %15-%30 less than what was offered them

… and scene!

The reality is that banks don’t operate in the real world.  When I explain this to people they adopt a confused looked and ask why banks do this. 

I wish I had an answer for them.