Connect2Agent - Home Buyers and Sellers

Online real estate and gambling are both betting games (Part I)

Real estate is a people business. During the past decade, it has morphed into an Internet business. But just like any professional industry, taking information out of context and without professional guidance can turn a sure thing into a crapshoot. 

I recently spoke with Connect2Agent member Joseph Cannella about the risks involved in online real estate information. He also dished about Plano TX real estate and why the real estate industry is a perfect fit for his lifestyle.

Rebecca Levinson: Why do you like selling real estate? 

Joseph Cannella: I was investing in real estate before I became a licensed real estate agent. A real estate agent who was helping me with some investment properties recommended that I get my license, so I did. 

I enjoy selling real estate in Plano Texas because I can make a decent paycheck and raise my children. I enjoy helping people who really need help--those who are about to lose everything. I also like working with people to find their dream homes.

RL: So you have been selling real estate for the past three years actively, but have been involved in the industry for the past 12 years. What has it been like for you recently, selling Plano Texas real estate?

JC: The Internet has happened to real estate. While real estate buyers can get a lot of information online, it also gives them a false sense of knowlege. Real estate buyers and sellers in Plano Texas can be misled by the Internet. They feel they have the information so they can complete the transaction on their own.

There is a danger in going solo. Whether it's a buyer's market or a seller's market, real estate is always an emotional transaction for the buying and selling parties involved. That is why it is so important to have an intermediary who views the transaction as a business transaction.

Batman returns and so will real estate in the Boston area (Part I)

In speaking with Lynne Eliopoulos, Connect2Agent member and real estate agent for Prudential Town & Country Real Estate, it's clear she feels firm on her local real estate soil. While (Metrowest) Boston is a buyer's market now, Eliopoulos feels in another year or two, it will even out again.

Having sold real estate in (Metrowest) Boston since 1991, Eliopoulos says she has "seen this before" and is not overwhelmingly concerned about the increase in inventory and time on market for her real estate sellers. Read on to get Eliopoulos' take on the current (Metrowest) Boston real estate market.

Rebecca Levinson: Why did you get started in real estate?

Lynne Eliopoulos: I needed to do a job that was flexible in terms of scheduling because I had young children at the time. I have always worked with people--before I got married I was involved in psychiatric social work. In 1991, it was imperative for me to set my own hours, and being that real estate is a people business, it seemed like a good fit.

RL: Most real estate agents exit the business after their first year in the industry. What has made you continue to work in real estate?

LE: The first few years were difficult. In the early 1990s, the market wasn't doing well. It was similar to now. I went into the market with a good mindset and didn't have any unrealistic expectations on what I could earn working as a new real estate agent. 

Since the overall real estate market in Boston (Metrowest) wasn't booming, I couldn't take it personally that my real estate business wasn't booming. During the slower period, I took the time to learn without being thrown to the wolves.

Now it's like, "I've seen this before." I don't tend to get overwhelmingly concerned about the slower market in Boston (Metrowest) right now. Certainly though, real estate is not for the faint of heart.

Labels will hurt your chance of getting my real estate business

Labels and generalizations are often slapped onto Gen X and Gen Y real estate buyers and sellers. Internet "gurus" and coaches alike dictate the standards by which Gen X and Gen Y buyers and sellers will hop in a real estate agent's pocket. All you need to do is get plugged into social networking and become active in the Re.net and you will have the younger generation's business.

Bzzz ... wrong.

There are no slang terms or pop culture knowledge that is going to make a real estate agent become a trusted advisor. Regardless of the fact that Gen Y was born with a keyboard at their fingertips and Gen X is a "me" generation, it doesn't mean we don't want knowledgeable market professionals. It means we want high-touch, service and attention.

Is that so hard to understand?

Some real estate professionals get it. They use the Internet as a vehicle to generate business and communicate their value proposition. They get away from the lip service "I am the top producer" and prove their knowledge through actual, up-to-date local information. They also answer questions without the propaganda.

If you are selling real estate, listen to that bell that rings loud and clear. Consumers are tired of the old messaging. They are looking for specific information and they are looking to get it from a local professional. They want action-oriented results--those days of posturing are over.

Make no mistake--relationships are still important to Gen X and Gen Y buyers. Knowledge is still important. Honesty and integrity are vital. We might blog, text and get involved in forums, we might join social networks and "add friends."

But at the end of the day, we know what's real and what isn't. The relationship might begin online, but at some point in time, there is an offline engagement. We do actually hold many face-to-face conversations, and we do have true flesh and blood relationships.

If you want to win our business: engage in interesting dicussion online, gain our trust and then invite us for a personal meeting to further the relationship and start the real estate process. 

The Internet is a tool.

If you enjoyed this post, you'll want to read:

• The path to progressive real estate search is through the eyes of a consumer
• Real estate buyers and sellers hang at online water coolers
• I am a consumer, service me now

Posted by Rebecca D. Levinson

Cookie-cutter matches don't work in real estate agent selection

A couple nights ago, I toured a few newer real estate agent matchmaking services that are proclaimed as Web 2.0 real estate offerings. I was ready to buckle up, learn a few things and let my mind start brainstorming.

What I learned was disappointment. These sites offered:

• a simple checklist of preferences to find an agent in your ZIP code/town
• a ranking of agents based on consumer feedback
• a list of a ton of agents with simple listings and small print that would make me click off the screen (ouch, my eyes)
• a reference check on agents by contacting their previous clients and asking about their sales performance: "Did you get what you wanted for your house?" and "Oh, by the way, are you happy with your real estate agent?"

Click here to read the rest of this post.

If you enjoyed this post, you'll want to read:

• Selling or buying real estate? Be wary of the clearance rack
• Real estate buyers and sellers hang at online water coolers
• Real estate commissions: Is it all about the benjamins?

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Posted by Rebecca D. Levinson

Selling or buying real estate? Be wary of the clearance rack

It is amazing to see the questions that pop up in forums and offline conversations with real estate buyers and sellers who are trying to cut costs on their real estate purchase.

Cutting costs is overrated when it comes to selling or buying a house. A real estate transaction is not a personal transaction by the time it becomes an inked offer to purchase. It is a business transaction. In a business atmosphere, skimping on expenses like analytics and marketing can kill your mojo and your edge among your competition.

This same rule applies when you are selling or buying a house.

Three alternative real estate transactions for buyers

If you have worked on improving your credit and saved up a downpayment, you should be sittin' pretty in today's real estate market. The options available to real estate buyers are much more lucrative than in the past five years. While some real estate buyers are waiting for a definitive thud that will signal the market has taken its final fall, others are capitalizing on the abundant inventory in real estate markets throughout the United States.

While there are plenty of ordinary resale or builder transactions, there are a few different options available in the real estate market today. These are horses of a different color, but they might give you the most run for your money. Connect2Agent dishes below on three programs you might want to investigate.

Independence Day afterthought: Never take home for granted

Last Thursday, I wrote a post for this blog on celebrating the Fourth of July with my family. Late that evening, while unwinding from the day and preparing for the Fourth of July holiday, I watched a documentary on HBO about Schapelle Corby, "Ganja Queen". Even typing these words, I have an overwhelming feeling of unrest creep up on me.

Corby was a 27-year-old Australian woman who was taking a vacation to Bali to visit her sister for her birthday. She was searched at customs in an Indonesian airport and was found with 4 kg of marijuana in her boogie board bag. The documentary of Corby's trial, supporters and the controversy surrounding her case was more than moving.

Click here for the rest of this post.

If you enjoyed this post, you'll want to read:

• Department of Justice frees up access to real estate listings
• Dr. Martin Luther King would understand the dream of homeownership
• Fair housing is like poetry in motion

Subscribe in a reader     OR     Subscribe to Connect2Agent - Home Buyers and Sellers by Email

Posted by Rebecca D. Levinson

Does your real estate listing tell a story?

While looking at a recent slideshow of my children, I was moved to tears of joy. When I shared the pictures with friends and family, they too were touched by the untold story that unfolded. Acquaintances who hadn't met my children were even moved by the pictures.

The pictures tell a story--a story of three young children finding their own way but bound to each other as siblings. 

The story is told in pictures--no words.

What story are the pictures of your house telling? If you are selling a house, those "little marketing details"--such as the photos of your house--are so important. 

How else can someone picture your house as their home without good photos? Multiple exterior and interior photos are a no-brainer. The quality of the photos should be amazing. When you interview real estate agents to list your home, ask to see samples of their marketing. Take a close look at their photos--do they tell a story?

I am a consumer, service me now

"I am a consumer, service me now." This is the message I heard in a recent company meeting. A website visitor wanted to work with a real estate agent. He emailed a few of the real estate agents on the company home page with this statement at the end of his message:

"I will work with the first real estate agent who responds to this email."

This struck a chord with me. Why this plea to respond? Real estate professionals have a myriad of instant communication tools: email, cell phone, text messaging, PDAs and Blackberrys, instant messaging and social networking.

The idealist in me thinks the consumer would have to write,

"I am looking for a serious real estate agent who has x years behind their belt, knows x information about the area, is local and closes x amount of transactions. If you do not meet these qualifications, please do not respond to my email."

Chester County Pennsylvania proves slow and steady wins the real estate race

A steady market with steady house prices is the key to real estate in Chester County Pennsylvania. 

I spoke with a real estate agent team, Don and Diane Kolodziejski, about their current market and working in the real estate industry.

Rebecca Levinson: What is happening with the real estate market in Chester County?

Don Kolodziejski: Chester County is a great place to live; we have called it home for 30 years. It is a prosperous county and has a diversity of jobs. We have a pleasant climate and you can find a suburban lifestyle, or move to the western part of the county for more rural living.

Real estate in Chester County is doing well. There has been a slight slowdown in sales, but median prices are holding. The average days on market is 70. The average price in Chester County is $310,000 while the median price in Eastern Chester County is right around $450,000.

There is a lot more inventory available than last year, so real estate buyers have the luxury to pick and choose. New construction has taken the biggest hit and builders are offering incentives.  It is a great time for real estate buyers in Chester County.