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Part Time Realtors

by The Colorado Springs Group™

This is another hot topic for Realtors, and one consumers are often shielded from knowing about. There was a recent survey done on Realtors, and NAR sent out the results with the message "Good news, a majority of you are doing business." Business can be 1 transaction per year. What do you think would happen if NAR did a commercial for the public that said good news, a majority of Realtors sold at least 1 house last year? 

The thought of part time Realtors does bother me because they're handling what is probably going to be the biggest transactions in a person's life... when they have time on the side. We've seen people miss out on so many homes because their realtor couldn't get off work, and we've had buyers choose to move on from certain homes due to the seller's realtor being unable to respond because they were at work.

I'm honestly upset when I hear a Realtor say they work at Home Depot because it's a great way to meet clients. Would many employers hire people knowing this? You're hired to do a job, not promote your other job. We can see how many homes they sell in a year so it's not hard to figure out that it's an excuse.

I took a taxi once to the airport in Colorado Springs. It was amazing. The driver let me know soon after the ride began that he was in fact a Realtor, and taxi cab driving was his side business. He told me what a great time it was to buy a home, and how he could help me. I kept quiet, I wanted to listen. I asked him about certain areas of the city, and what he based his information on. It was a terrible time to buy and while I listened I looked up his license with my phone... he was licensed before but his license expired a few years before this conversation.

I called him out on this and let him know this is how Realtors get a bad name once we were at the airport. His response was that he could just reactivate his license at any time so offering advice and services was okay if someone wanted to use his services. Scary isn't it, even after calling his bluff he still stood by his lie of being a Realtor as his main job.

2012 October Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from October. Single Family & Patio Homes

Black Forest: 18 Sales for a total dollar volume of $7,478,205

Briargate: 64 Sales for a total dollar volume of $18,833,107

Central: 45 Sales for a total dollar volume of $7,655,890

East: 54 Sales for a total dollar volume of $9,167,119

Fountain Valley: 101 Sales for a total dollar volume of $17,516,547

Falcon - Peyton: 51 Sales for a total dollar volume of $12,018,379

Marksheffel: 7 Sales for a total dollar volume of $1,557,800

Northeast: 71 Sales for a total dollar volume of $16,065,138

Northwest: 31 Sales for a total dollar volume of $10,059,100

Northgate: 29 Sales for a total dollar volume of $9,256,903

Old Colorado City: 17 Sales for a total dollar volume of $2,903,801

Powers: 68 Sales for a total dollar volume of $13,537,706

Southeast: 38 Sales for a total dollar volume of $4,798,729

Southwest: 46 Sales for a total dollar volume of $15,645,068

Tri-Lakes: 40 Sales for a total dollar volume of $16,072,500

West: 12 Sales for a total dollar volume of $2,575,500

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 10/1/2012 through 10/31/2012.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

 

Why Are They Selling?

by The Colorado Springs Group™

It's a common question and even we ask it when buying a home. Sometimes sellers are perfectly fine with relaying the answer to the buyers. Maybe it's just too small or maybe they're downsizing. The important thing is that the listing Realtor should not be relaying any information that puts the seller in a worse position.

For example, if the reason for selling is a divorce or job transfer, it might make the buyer think they can offer less because they want to "unload" the house. For this reason, don't be surprised to get some sort of a generic answer if you are a buyer asking the question.

If they are selling for a reason that can be detrimental to the house and/or it's value they have to disclose it. If they are selling because of the interstate they are going to put in behind the house they need to disclose that (at least in this state they do). If they are selling because the air conditioning quit working and they don't want to endure another summer they need to disclose that they know the air conditioning isn't working.

Look at it this way, how would you feel if you made an offer and the seller asked you why you were buying? If the answer was something to the effect of your lease is up in a month, you wouldn't want to provide that information because they might see it as a sign you don't have much time to keep looking for another home. The result could be a higher counter-offer.

It's normal to be curious, in fact I would be surprised if a buyer said "I don't care or want to know why they are selling".

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686