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            <author>kreetz@jmaproperties.com (Ken Reetz)</author>
            <title>Why Network With Other Realtors</title>
            <description> <![CDATA[ 
Networking With Other Realtors

It was a mistake for me to think that networking with&nbsp;out of state&nbsp;Realtors was a waste of time.&nbsp;&nbsp;

The Portland, Oregon area has consistently been listed among the top cities to live and work, and there is a sharp increase in the number of out-of-state home buyers making plans to move here. That makes it imperative to know as many Realtors from around the country as is possible.&nbsp;

It's not enough to have a network that is pulled from a directory; most of the big companies in real estate are simply franchises, and the directories from ABR, CRS, GRI, and so on, are everybody - the best and the worst are in there.&nbsp; I have consistently been disappointed with names pulled from these sources - not with their knowledge and skill, but with the communication and commitment.&nbsp;

Nothing replaces getting to know someone over time, and given enough time there is sense of who that other person is and if there are shared values and commitment.&nbsp;

So, this is my quest:&nbsp; It will take a while, but I hope to develop enough relationships from across the country to be a true value to clients who are moving to the Portland metro area from other states.&nbsp;

It will mean all the difference to a client when the sell in one state is handled seamlessly with the buy here in the Portland area.&nbsp; Imagine&nbsp;both&nbsp;Realtors, the title company, and the lender all working in harmony and pulling in the same direction, with the same commitment to the same person - the client.

Yeah, I want that kind of experience for my out of state client.&nbsp; It's easy to meet; there's Facebook, Active Rain, Real Town, even the JMA web site.&nbsp; If you're a Realtor and want forge an Oregon relationship then please get in touch.

Some day we may have the opportunity to absolutely WOW! our mutual relocation client.&nbsp;
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            <pubDate>Tue, 13 Apr 2010 20:51:22 -0700</pubDate>
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            <author>kreetz@jmaproperties.com (Ken Reetz)</author>
            <title>Short Sales</title>
            <description> <![CDATA[ 
Patience is the Secret to Short Sales
&nbsp; 
Do you know how a real estate Short Sale works? It happens to be the number one song on the real estate top 40 chart, but not everyone listens to real estate radio every day and so the topic of Short Sales is still new to many.
&nbsp; 
A Short Sale, in real estate, is when a property is worth less than what is owed to the bank. If the home is sold for current market value, then there will still be a debt owed to the bank, known as a deficiency after the sale. In order for the sale to proceed, the lender and all other lien holders will need to approve any offer that is made before the property can actually close. The work involved in getting approval for a short sale varies from bank to bank and from one bank rep to another, but it is always a substantial effort with the odds running against being successful.
&nbsp; 
For the seller, short sales can provide a substantial benefit. The sellers credit report may read something like this: &ldquo;Agreed settlement short of full payment,&rdquo; which is much better than, &ldquo;Property foreclosed.&rdquo; However, for buyers the months of uncertainty are unbearable and&nbsp;many&nbsp;buyers will just walk away frustrated, usually to look at properties that are not tied to third party approval. 

&nbsp;



Because of this, I always discourage buyers from chasing Short Sales. Ive heard the hype that a good Short Sale expert can find a buyer the deal of a lifetime. However, in truth this is rarely the case.&nbsp; Trust me; banks are no more motivated to give you a good deal than any other seller. They dont give properties away for less than they are worth  and the mere fact that a property is no longer worth what is owed does not qualify it as a bargain.
&nbsp; 
A loss to the bank also does not define a good deal for the buyer; it only means that the buyer probably paid market value on that property. That isnt to say there are no good deals from Short Sales, but any property can be negotiated to be a good deal if the seller is willing and the buyers agent is skilled. It is much easier to work with a seller who is motivated to sell than it is working with&nbsp;a bank that is trying to hold down their loss.
&nbsp; 
The fact is, Ive made creative deals for my buyer clients that rival any Short Sale out there. In most cases, there is simply too much good inventory to justify chasing a short sale. Too often they result in buyer clients that are bitter and unsatisfied after months of empty promises from overworked bank representatives.
&nbsp; 
Who needs that?
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            <pubDate>Fri, 29 Jan 2010 19:38:35 -0800</pubDate>
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            <author>kreetz@jmaproperties.com (Ken Reetz)</author>
            <title>Negotiating the right deal for our client</title>
            <description> <![CDATA[ 
Negotiating The Right Deal For Our Client

Negotiating is not about winning and losing; its about getting the right deal for our client and it is what makes the Realtor most valuable.

My motto has long been, &ldquo;The best results always happen to those who are best prepared.&rdquo; The final price and terms of a deal are the end result of the negotiation, but it is the preparation and due diligence that dictates what is being negotiated in the first place. If done well, our client will have a solid basis for their position and a reasonable answer to any objection raised by the other side.

Is the price right? It takes a lot more effort than visiting web sites like Trulia, Zillow, or any of the others, to determine the proper price to ask or offer; it takes personal visits and in-person conversations at several similar properties to get meaningful comparisons and a legitimate market value. Seller concessions, absence of distress, location, setting, surrounding neighborhood, and various amenities are just some of the factors that need to be evaluated.

Are the terms right and the contingencies sufficient? Our client, whether buyer or seller, needs to know that they wont find themselves forced into being homeless for a week, a month, or even longer. They need to know how to handle certain inspections; how to negotiate repairs in such a way as to keep the rest of the agreement binding upon the other party, and which inspections require written approval by the seller. And there is so much more&hellip;

All of this preparation and due diligence provides strength in our clients position, but it has nothing to do with the other party. There still needs to be a willing buyer and a willing seller to make the deal happen. Beyond that, motivation, or the lack of motivation, in either party is a true &ldquo;Wild Card&rdquo; and trumps whatever conclusions may be properly developed otherwise.

Sometimes a good result may be to walk away from the unreasonable position of the other party. Not closing a deal doesnt mean the negotiation failed, it means that our client had the right information to make the right decision as they see it. I think thats a great result.

One more thing about negotiating. It gets real emotional, especially on the sellers side. No seller wants to hear that their home is worth less than what they think it is worth, and they certainly dont want to hear about all of the nit picky defects the buyer thinks it has  even though it may have plenty. The Realtor acts as a buffer and is able, or should be able, to bridge what is almost always a sharp rise in these emotions. The value of competent and credible representation at this point is immeasurable.

Negotiating the right deal for our client takes a lot of work, more than most people realize or appreciate. It would be interesting to hear comments from Realtors and Consumers about their experiences.

Contact Ken Reetz at Ken@5BestHomes.Com

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            <pubDate>Mon, 18 Jan 2010 09:43:01 -0800</pubDate>
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