Here's a story I'll be telling buyers & sellers!
The owners of a bungalow backing to South Table Mountain hired me to sell their home. We decided on a price just under $300,000. Seller still needs a week to paint and de-clutter, but asks me to put the sign in the ground with a "Coming Soon" rider, which I do just before sunset on Saturday evening.
Sunday morning, the seller calls me and says a passerby saw the sign and his wife walking their dog and asked to see the house. Inside, the passerby asks what they want for the house. Husband says $300,000 if he doesn't have an agent (because of variable commission). He then calls me and says, "I have a buyer for $300,000 cash."
Two hours later, with paperwork done, earnest money check in hand and proof of funds, I change the sign to "Sale Pending."
Seller is ecstatic. The kicker for him was that the buyer told him not to do any painting, because he would be changing the colors anyway.
As I'm leaving the house, another car is stopped at the sign, asking about the house. "We've been driving this neighborhood every day looking for signs," the woman told me. I told her that if she had driven the street earlier in the day, she might have been able to buy it. Sorry! (Not really.)
This is Jim Smith's personal (political) blog. His real estate writings are posted at www.GoldenREblog.com.
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Monday, April 29, 2013
Friday, April 26, 2013
Buyer Activity Staying Strong in All Areas & Price Ranges
I usually do these calculations at the end of the month, but I did these on April 26th in preparation for a radio appearance on AM760 Saturday, April 27th, 9am to 11am.
NOTE: The total inventory surged by about 3,000 between end of March and end of April, but eager buyers put nearly 4,000 more homes under contract in the same period. Hence, the active inventory continued to decline.
Wednesday, April 24, 2013
With Homes Selling So Quickly, It’s Tempting to Think You Can Do It Alone
[Published April 25, 2013, in the Jeffco editions of the Denver Post’s YourHub section and in five Jefferson County weekly newspapers]
It’s an interesting contradiction — thinking that you don’t need a listing agent in a seller’s market. Put a “For Sale by Owner” sign in the ground and sell your home in a day or two, you think.
The fact is that you need an agent even more to deal with multiple offers, most of which will come from buyers represented by agents. In such a situation, you don’t want to be the only player without professional assistance.
Moreover, as with FSBO’s in any market, you’re probably going to be paying the buyer’s agent 2.8% commission, so it may be worth paying a couple more percentage points to level the playing field.
Lawyers (and their clients) are familiar with the expression, “a lawyer who represents himself has a fool for a client.” That speaks to the importance of having a dispassionate professional on your side in what is likely the biggest transaction of your life — selling your home. And when you have the possibility of a quick sale, you need the expertise of a professional in (1) setting the asking price and (2) weighing competing offers.
In last week’s column I described several ways in which a buyer can make his offer more attractive than competing offers. I was reminded by a colleague that I left out one of the most powerful techniques, which is the “Dear Seller” letter in which a buyer sweet talks the seller into choosing his/her offer for personal reasons such as the buyer’s love of the seller’s garden or because the buyer’s mother dying of cancer wants to die in your home.
Should you accept the highest price offer with 3.5% down payment or the lesser offer with 50% down — or the cash offer which waives inspection and appraisal conditions? If your preferred offer is contingent on the sale of the buyer’s house which is under contract, you need a professional who can assess the strength of the contract on that buyer’s house.
How about taking a back-up offer — and how does that work, anyway? There are just so many reasons that you need an agent on your side more than ever in today’s fast-moving market — whether you’re the buyer OR the seller.
If you have negotiated (as you should) a variable commission rate with your listing agent, it’s also tempting to keep your home off the MLS to increase the chance that your agent will sell it himself, costing you less in commission. But, while the agent may bring you one buyer, your only hope of getting competing offers that increase the sale price is to let the world know about your listing.
South Golden Half-Duplex Really Impressed Me
[Published April 25, 2013, in the Jeffco editions of the Denver Post’s YourHub section and in five Jefferson County weekly newspapers]
This 2007 half-duplex at 16506 W. 14th Pl. is just a couple blocks from a South Table Mountain trailhead. It has many updates you won’t find in nearby listings. But you won’t be “settling” with this one! It has such popular upgrades as hickory hardwood flooring, travertine tile, a high efficiency furnace, radon mitigation, a mother-in-law apartment in the walk-out basement, slab granite countertops, a Solatube, hot tub, five-burner gas stove, and panoramic mountain views. Take the video tour to fully appreciate it. It goes on the MLS tomorrow, April 26th, with an open house on Saturday, 11 to 3.
Wednesday, April 17, 2013
There is only ONE condo and ONE townhome for sale in the entire City of Golden
Here are the only two "active" listings within the City of Golden to be found on Metrolist's Condo/Townhome database:
Compare that to the following list of condos/townhomes within Golden listed on Metrolist as Under Contract:
Under the column "Dom" (Days on Market), notice how quickly most of those homes went under contract.
Compare that to the following list of condos/townhomes within Golden listed on Metrolist as Under Contract:
Under the column "Dom" (Days on Market), notice how quickly most of those homes went under contract.
There are only 17 single-family homes for sale in the entire City of Golden
Here are ALL the residential (single-family) listings in the City of Golden that are active on Metrolist as of today:

Now, look at the City of Golden listings (single-family) that are Pending or Under Contract on Metrolist as of today:
_Page_1.png)
Explanation of column headings and abbreviations:
St = Status (Active, Pending or Under Contract
Styl = Style (Ranch, 2-Story, Story & Half, BiLevel, etc.)
Bsmt = (1) sq. footage; (2) Walkout, Crawl Space, Garden Level
Psf = Price/sq. ft.
Pfsf = Price/finished sq. ft.
Dom = Days on Market (before going under contract)
# = Number of parking spaces
Garage: G=Garage, A=Attached, O=Oversized, F=Off Street parking, T=Tandem, N=None
NOTE: Contract date is left blank for Pending listings, which are defined as pending lender or other third-party approval.

Now, look at the City of Golden listings (single-family) that are Pending or Under Contract on Metrolist as of today:
_Page_1.png)
Explanation of column headings and abbreviations:
St = Status (Active, Pending or Under Contract
Styl = Style (Ranch, 2-Story, Story & Half, BiLevel, etc.)
Bsmt = (1) sq. footage; (2) Walkout, Crawl Space, Garden Level
Psf = Price/sq. ft.
Pfsf = Price/finished sq. ft.
Dom = Days on Market (before going under contract)
# = Number of parking spaces
Garage: G=Garage, A=Attached, O=Oversized, F=Off Street parking, T=Tandem, N=None
NOTE: Contract date is left blank for Pending listings, which are defined as pending lender or other third-party approval.
Tuesday, April 16, 2013
How Buyers Can Make Their Offers More Attractive Than Competing Offers
[Published April 18, 2013, in the Jeffco editions of the Denver Post's YourHub section and in five Jefferson County weekly newspapers]
I’ve written about escalation clauses, but let’s look at other ways to improve offers.
As new listings continue to draw multiple offers, buyers’ agents are discovering a number of ways to make their client’s offer be the one which is selected by the seller.
You'd think that the highest price would be accepted, but there are other considerations.
I’ve written about escalation clauses, but let’s look at other ways to improve offers.
Cash, of course, is king. Buyers able to do so are submitting cash offers and refinancing later. You need to submit proof of funds with a cash offer — a 401K, IRA, SEP, or stock portfolio statement all work for this purpose, even if you don’t want to use those funds at closing. I’ve seen instances where a buyer got under contract as a cash purchase but then closed with a loan, without being contingent on loan approval
A large earnest money deposit can make your offer look stronger.
No contingency on the sale of another home is obvious, but how about no inspection or appraisal contingency either? It doesn’t mean you can’t inspect or appraise the home, just that you can’t terminate for those reasons. As a buyer, you can change your mind as late as closing day and only lose your earnest money. When you have a compelling reason not to proceed, you may decide that it’s worth losing your earnest money to do so.
That, however, brings up another way to make your offer more attractive. You can check the box “Specific Performance” on the contract. If you fail to close, the seller will have the option of suing you to close the transaction. In this market, however, the seller may wisely choose just to keep your earnest money and sell to the next highest bidder — or an even higher bidder — rather than go through that brain damage. Meanwhile, the fact that you’ve checked that box will definitely make your offer more attractive up front.
The closing date can make your offer more attractive. If the property is vacant, you don’t even have to ask — the sooner the better. If you’re paying cash with no contingencies for inspection or appraisal, how about offering to close in two weeks? That will make your offer very attractive!
If the home is occupied, always ask for the seller’s preferred closing date, or offer a quick close and a low-cost (or free) post closing occupancy agreement.
As you may know, Golden Real Estate offers free use of a moving truck to clients and to buyers of our listings. Offering it to the sellers of a home that one of my clients wants to buy — and maybe providing the labor — could make him choose my buyer over others.
Homes This Nice Are Usually in Gated Communities
[Published April 18, 2013, in the Jeffco editions of the Denver Post's YourHub section and in five Jefferson County weekly newspapers]
16603 W. 56th Drive, Golden 80403
$695,000
Just east of North Table Mountain is a hard-to-find subdivision of high-end homes called Table Mountain Meadows. This 5,246-sq. ft. home at 16603 West 56th Drive epitomizes the custom-built home with all the most popular upgrades. Slab granite, hardwood, stainless steel appliances, stamped concrete, epoxy garage floors, jetted tub, plumbed gas BBQ, 9’ and vaulted ceilings, dance floor, fitness center (equipment included!), huge cedar closet, skylights, high-end window coverings, crown moldings, roll-outs and 42” cabinets — the list of upgrades is unending! Open Sat. & Sun., April 20-21, 1-4 pm.
Wednesday, April 10, 2013
Colorado Real Estate Commission to Review Use of Font Signatures in eContracts
[Published April 11, 2013, in the Jeffco editions of the Denver Post's YourHub section and in five Jefferson County weekly newspapers]
By now, I suspect everyone with a credit or debit card has had the experience of signing electronically instead of on paper at supermarkets and other stores.
Imagine if, instead of signing with the stylus, you could just check a box and see the name on the credit card appear in a script font. Now imagine that you could do that for purchasing a house, not just a bag of groceries or a jig saw.
That’s exactly what is happening every day in real estate transactions. CTM eContracts, the official provider of electronic contracts for the Colorado Association of Realtors, allows buyers and sellers of real estate to “Select Font Signature” on every document, unless the agent disables that feature. Mine is the only brokerage I’m aware of which has a policy of not accepting such signatures on contracts and last week I convinced the Colorado Real Estate Commission (CREC) to put the topic of banning font signatures on the agenda for their next meeting.
Electronic signatures should, by law, be verifiable. It’s not hard to imagine a disgruntled spouse or client saying in court, “I didn’t sign that counterproposal,” or “I didn’t approve that price reduction.” No one would be able to disprove his or her assertion that someone else must have clicked on that "font" option. For that reason alone, such signatures should not be allowed.
Low Number of Homes for Sale Is Not Due to Sellers Failing to List Their Homes
[Published April 11, 2013, in the Jeffco editions of the Denver Post's YourHub section and in five Jefferson County weekly newspapers]
On Monday, the National Association of Realtors’ daily news alert carried the headline, “Housing Shortage Will Dampen Spring Market.” However, I think the NAR analysts are coming to a faulty conclusion — at least as it relates to the Denver market.
Yes, the number of homes listed as “active” on Metrolist at the end of March was down 35.3% from March last year, but the number of homes entered on Metrolist from January through March 2013 was down only 5.2% from the number listed in the same period last year. And the number of homes sold this March was up 16% over last year. That’s the #1 reason for the reduced number of active listings.
What the NAR analysts are saying, in effect, is that because new listings are selling so quickly, resulting in fewer available homes, we’re going to have a slow spring.
Nothing could be further from the truth. Homeowners, realizing this is a seller’s market, will continue to put homes on the market as quickly as practical, and those homes will continue to sell quickly, often with multiple offers. The spring real estate market will be on fire, not “dampened,” by the shortage of active listings.
The market is so hot that, in two instances last month, I recommended to my sellers that they accept offers that were contingent on their buyer’s home being sold — and the buyers’ homes were not even listed yet. I analyzed the market in the two neighborhoods where the buyers’ homes were located (Sloan’s Lake for one and Trailmark for the other) and even visited the Sloan’s Lake home to see its condition and updates. Based on the proposed listing prices, I could see that each home would sell within a week, and both homes did sell within a week. As a result, my sellers are happily moving toward closing on their homes.
In a “normal” market, no agent in his or her right mind would recommend taking an offer that was contingent on the sale of a house that wasn’t already under contract, much less not even listed. But this is not a “normal” market.
In another instance, I had a listing in Golden that didn’t sell last year or the year before, but I knew the owners still wanted to sell. Because of how the market had turned, I urged them to put their home on the market one more time. They were burned out from the process and said, “No.” At that point I said, “Sign a two-week listing agreement. If it doesn’t sell in two weeks, it’s off the market.” They were leaving on a 2-week vacation anyway, so they agreed. That house, which didn’t sell last fall for $550,000, was under contract for $570,000 in 12 days.
Thursday, April 4, 2013
Realtors Took a Preview Ride Yesterday on the Light Rail Line Between Denver & Golden
Click on the thumbnail above to view a YouTube video I created of this event, three weeks prior to the line's public opening.
Here's the link itself: http://youtu.be/hgqYcJK3qlQ
Wednesday, April 3, 2013
Featured Listing: This Bear Valley Home Has Two Master Suites
So often buyers will tell me that they want new-home features — five-piece bathrooms, granite countertops, and the like — but also RV parking and “no HOA!” Those buyers will love this 1980’s home at 3239 S. Newland St., which backs to a Lakewood park and is 2 blocks from a Bear Creek Park bike/pedestrian trail. Upstairs, three bedrooms were converted to a huge master suite and one guest bedroom. On the lower level, the 2½-car garage was converted to another huge master suite, and an oversized 2-car garage (not visible above) was added to the backyard. Open Saturday, 1-4 pm.
Homes Over $500,000 Are Going Under Contract Much Faster Now
Here is my monthly calculation of the percentage of inventory under contract by MLS area, county and city:
Look
at the bottom two lines on this above chart. They show that while the
number of unsold homes on the MLS (what I call "total
inventory") increased by 4.5% in March over February, the number of those
that are under contract increased at over twice that rate -- 11.7%.
That is why the "inventory" defined by other analysts (i.e., active
listings only) fell by 1.8%. It's not that sellers aren't putting
their homes on the market, it's just that buyers are snapping up listings
faster than they can be added.
In
the above chart, I have highlighted in red
the only areas and months when the percentage of inventory under contract was
higher during the past 12 months than it is now. And notice that for the
first time ever (that I know of), over 50% of the total MLS listings are under
contract.
Now,
look at this chart:
What
surprises me most is the dramatic increase in buyer activity in the homes over
$500,000. The percentages in the top four price ranges have increased
by nearly half, even in the very highest price ranges. In Jeffco, the
percentage of million-dollar-plus homes under contract has nearly
doubled. How much higher can these calculations go next month? Stay
tuned!
All Price Ranges in Jefferson County Are Benefiting From Seller’s Market
[Published April 4, 2013, in the Jeffco editions of the Denver Post's YourHub section and in five Jeffco weekly newspapers]
How Jeffco's statistics break down by price range — and how that has trended over the past three months — is shown in the chart at left. (This is part of a larger chart on my blog which also shows Denver and total MLS figures.)
By JIM SMITH, Realtor®
On my blog [in a separate posting], you can see the statistics for every MLS area along the Front Range, including, of course, Jefferson County, which I divide into the non-foothills and foothills areas.
What I calculate is the percentage of unsold listings that is under contract, both by area and by price range. 61.9% of the listings in the non-foothills area of Jeffco were under contract as of March 31st, while 36.5% of the foothills listings were under contract. Those figures are up from 48.6% and 28% respectively a year ago.
How Jeffco's statistics break down by price range — and how that has trended over the past three months — is shown in the chart at left. (This is part of a larger chart on my blog which also shows Denver and total MLS figures.)
While the lower and middle price ranges appear to be leveling off in the high 60’s, the higher price ranges are now moving in that same direction more dramatically than before.
Since beginning this index in October 2011, I’ve never seen million-dollar Jeffco homes reach a level of 10% under contract, yet in March, this price range leapt to 14.5% under contract, while other homes over $500,000 increased their percentage under contract by almost half in just two months.
As you can read on my blog [in that other posting], these same trends are seen both in Denver and in the overall figures for the total front range MLS.
Next week, other analysts will probably lament how inventory fell in March by 1.8%, but they only define inventory as “active” listings. I define inventory as unsold listings — active plus under contract. The number of unsold listings at the end of March was 4.5% higher than at the end of February, but the number of listings under contract increased by 11.7% in the same period. Yes, sellers are putting homes on the market, but buyers are snapping them up quicker than they can be added.
Now that’s what I call a hot real estate market! One of our current listings drew 71 showings and 28 offers in 2 days and went under contract for $55,000 over list price.
Tuesday, March 26, 2013
My Email Exchange With Five Star Professonal's Media Manager
NOTE: I sent an email to Five Star Professional seeking answers to several questions. The answers by Media Manager Jennifer Alexander appear in red below.
Fifth,
can you provide me with the rate card for each of those upsells? (price
for each size display ad in the supplement, plus other products they can
purchase) I have attached an order form from
the 2012 program in Denver. Please note that no one ever pays to be included on
the list. We provide the listing in the magazine and on our website at no
charge to the winners. The items contained on the attached order form are
optional. [Posted at www.JimSmithColumns.com.]
First,
could you mail me a copy of the advertising insert from 5280 Magazine last
September? I don't subscribe to the magazine and I have never seen the
insert.
I have attached a watermarked pdf of
the section for you to review. [Posted at www.JimSmithColumns.com.]
Second,
you mentioned adding a "minimum production requirement" this year,
but you didn't indicate what that requirement is. No, we don’t. The minimum production requirements are set
once we have gathered all the data from each market. This keeps the research
values relative to each market. How
many seller sides and how many buyer sides must an agent have produced, and how
do you get that information without access to the MLS?
We contact all recent homebuyers in a
given timeframe and ask them to evaluate up to two real estate agents. This
gives each recent homebuyer the opportunity to evaluate an agent on both the
buy side and the sell side.
Third,
do you provide any data or information to the awardee him/herself as to the
responses you receive on that awardee? No, we do not. Our standard research process encourages
respondents to provide an evaluation of their real estate agent, either favorable
or unfavorable. To encourage this kind of response, the respondent is assured
anonymity.
Fourth,
is it not true that your only phone call to the awardee is by a telemarketer
seeking the purchase of advertising space, reprints, plaques, etc.? No, this is not true. We reach out to each award candidate
during the research phase, sometimes 3-5 times, before they are ever named a
Five Star Professional.
Sixth,
do you inform awardees that they should not say they were selected "by
5280 Magazine" for this honor, that they may only say they are a
"5280 Five Star Agent". (This is from 5280 Publisher Dan Brogan's email, saying that would be wrong.) Could you provide me with the written
instructions you give to all awardees (not just the upsells) as to how they may
promote their award? Our award guidelines are similar among all of our programs.
Our standard guideline for how to refer to the award reads: “Do not
imply endorsement from Five Star Professional or the magazine. Correct use:
Jane Doe is featured in 5280 Magazine as a 2012 Five Star Real Estate Agent. Incorrect
Use: 5280 Magazine selected Jane Doe as a 2012 Five Star Real Estate
Agent.” Our
Real Estate Award Guidelines are currently being improved and will be finalized
shortly.
Seventh,
I understand that 5280 Magazine provides you with a subscriber list so that you
can mail all subscribers a survey form, apparently without knowing in advance
that any given subscriber had a transaction within the study's timeframe.
Is that correct? No. At
one time we included a portion of magazine subscribers in our research
activities, along with the complete list of recent homebuyers. We stopped doing
this in Denver in 2011.
If
so, what percentage of your survey responses come from such a mailing versus
other outreach. All evaluations of real
estate agents came from recent home buyers. For the 2012 program in Denver, we
surveyed all homebuyers with a transaction of $150,000+ between February
2011 and October 2011.
Assuming
you have other outreach, who is your vendor for providing the contact info for
buyers and sellers of homes in the target area and during the target
timeframe? All of our research is done internally. Information regarding
the list vendor we use is proprietary to Crescendo Business Services.
Eighth,
what exactly is meant by "partnering" with 5280 Magazine? It
seems to me that the magazine is simply selling you advertising space. Is
the provision of their subscriber database for mailings (if true) the extent of
your partnership, or is there some other aspect to it?
Again, we did not
utilize the subscriber list in our research. Our
partnership with magazines is a mutually beneficial relationship. The magazine
provides an outlet for showcasing our award winners, and the magazine benefits
by having high-quality content readers enjoy. Our program creates an
opportunity for the magazine to set their reputation as a resource when looking
for real estate-related content, which tends to be popular among readers.
Comments from 2012 Five Star Professionals About This Week's Column
NOTE: Prior to uploading this week's column to the newspapers, I sent a draft of it to 25 fellow Realtors -- many of them personal friends -- who had been named "Five Star Professionals." I did this to make sure my column was accurate. Here are their comments, edited for space and readability.
Jeri Groves, Groves Homes, LLC:
I think the whole 5280 thing IS a massive rip-off. I have it on my signature, but won’t bother with the “extra” promotion in 2013. It’s just another gimmick, I think. I’m not a member of QSC, but it sounds like a very interesting program. Since I get 99% of my business from referrals, I guess THAT’S the best “endorsement” anyone could ever want, right?
I just got the news that I’d been “selected”. I did, in fact ASK how I was selected and they never presented an intelligible answer. I have to think it’s on listing or sales volume.
Steve Kinney, RE/MAX Professionals:
I wasn’t aware that RatedAgent.com existed - and LOVE the concept. I do very much like the 5-Star Program and feel that I get a good return on my $500ish annual investment for a minimally–upgraded ad.
Like you, I often think the 5-Star Award is somewhat lacking in the way of credibility. There are a number of consistently lousy brokers who are included there and it surprises me that they are invited to participate.
Last year I was tempted to count the number of various ads and then do the calculations you did to see what the revenue they generated was. My guess is that the 5-Star program is paying 5280 magazine something to participate since there is a significant additional cost to print a much-larger magazine – but at the same time, these lists for Realtors, doctors and other professionals surely drives traffic to the 5280 site and sells some copies of the magazine too.
It’s been more than three years since I received the "award" the first time. At that time I did have a brief conversation with the 5-Star representative, which may have been an interview of sorts, but that has not occurred again for the two subsequent "awards" as far as I can remember. I'm pretty sure that the subsequent calls were solely sales calls. The first year, I asked who nominated me and I'm certain that I never heard who it was because I would have mailed them a thank you card – and I often wonder who nominated me and what the selection criteria was.
I have REALLY wished that there was a better resource for information for prospective Buyers and Sellers to easily turn to for objective information and it appears that QSC will do that – and I'll put that on my e-mail footer. And, I intend to participate. If that information was more easily available, I think that the choices people make about who they chose to represent them would be significantly different.
Interestingly – and maybe it’s sad — when I've mentioned in conversations or on e-mail footers my various accomplishments and designations, the one that gets the most attention, or "congratulations" comments is the 5-Star program! The fact that I'm a part of the Realtor Roundtable, various fairly-impressive designations for repeatedly making RE/MAX's Platinum Club, consistently doing 50+ transactions a year, my volunteer work, etc., don’t command as much attention…
Scott Matthias, RE/MAX Professionals:
I never have bought much into the 5280 Five Star Professional rating. I have done QSC now for 3 years and feel it is the best rating service out there! It is a true 3rd party getting our clients true opinion of our service!
I did read your column and am in agreement. I haven’t been contacted lately from 5280 because I never did agree to any of their upsell requests. So, no, they have not contacted me recently or interviewed me.
Eric Mott, Innovative Real Estate:
We only heard from some of our clients who were contacted by 5280 asking if it was "for real", no data given to us as to "who" was included in surveys or anything from 5280 besides the upsell packages.
Joann Perito-Gonzalez, Avenues Unlimited:
As a professional involved in sales, I will always embrace an opportunity to get exposure. As we all know, in any advertising it is seeing that ad, logo, whatever numerous times. I have been able to capitalize on a very small budget to get exposure and it really does not matter to me who endorsed me or what they had to say. That comes back in the form of repeat business and referrals, and the fact that they know they can pick up the phone and call me for any number of reasons AFTER our transaction. Five Star Professional came to me and had a very affordable cost. I chose a very small ad that I did NOT get to create, and I ordered some postcards. So, for me, the cost to be in the Magazine and toot my horn a bit, was well worth it. I use a
very subtle form of promoting it and am not out there yelling and screaming it to get listings. I rarely, if ever, compete for my listings. Just the nature of MY business.
The way it went down was I was contacted by the company that handles the Five Star search, so to speak, and they explained how they got my name. I immediately asked them “what is this going to cost me,” as I am extremely skeptical of these type of phone calls. They said it technically could cost me nothing, but that it would allow me to buy some space in the advertising section to further illuminate my being selected. They explained how the process goes with the surveys to clients within a period of time. They said you must get a survey back with accolades and that they then contact the other people in the transaction and verify you are in good standing with DORA.
They really did not push the advertising. It made sense that it was worth going back to those clients within that time period and acknowledging the award and thanking “whoever” for filling out the survey. Another way to stay in front of your folks. I never felt pressured to purchase anything. I chose to.
When I did ask if you had to have a certain number of surveys returned, she said no. She indicated I had a few, but she was not privy to those particular clients as she was at the latter end of the process at that point. It did not really matter to me. One, two, three, seven returned was not the issue. It was that SOMEONE had taken the time, and the others became aware of that, as did the one or few that took the time.
Ann Connelly, Your Castle Real Estate:
I would agree with what you said about 5280 Five Star Professional. Glad to see QSC getting more exposure. I routinely refer clients to other QSC members across the nation and find the agent list extremely helpful on QSC's website. Interestingly, last year 24 brokers (including me) at Your Castle Real Estate knew they were receiving the 5280 award and tried to get Five Star to let us have a group photo and pay for a half page ad. They refused. Don't know what will happen this year. Good luck with your articles and thanks for contacting me.
Jim Carroll, Keller Williams Avenues Realty:
The QSC program sounds like a good idea. The question I would have is what would keep an agent from turning over his transactions that were not good and giving only the good ones. I was not aware of the QSC program and have not signed up yet. Thanks for the info.
I did not hear back from 5280 Magazine but their printed information says it is taken from surveys mailed out to past clients, title companies, & lenders. I have a client & title company both tell me they received this survey about me & they filled it out giving high awards (of course) about me. So I do know surveys were sent out. Maybe all they need is one but I don’t know.
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Video of Realtor Preview Ride of West Line on April 3, 2013

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