Greater Cleveland Real Estate Blog

Quality of MLS listing comments will be the main topic of our next sales meeting, thanks to Karen Anne Stone who wrote a very thoughtful post in response to the Lindsay Hasford's post It takes a degree to read between the lines.

Why is it so important for the listing agent to write a compelling, yet truthful comments about our clients' homes?

• It's our fiduciary duty and responsibility to our clients to provide a reasonable care, which also means to make a right presentation of their property in all marketing venues. Marketing via MLS to Real Estate agents who might work with the buyers, is one of the biggest parts of a marketing plan and a way to show the professional care by listing agent.
• It's our responsibility and a way to demonstrate the respect to Real Estate professional community by providing a quality information about our listings.
  
• It's the way to create the agent's professional image and to build a credibility among the fellow Real Estate agents (as it was pointed in Karen Anne Stone's post).  Reputation of the diligent, reasonable, truthful professional helps the agent to better serve not only her current clients but also sell all the future listings.
  

If only MLS comments were available to Real Estate agents, that would be already very important to pay the closest attention to a quality of these remarks.

However, many agents don't even think that today our MLS listing remarks go directly and unchanged to the hundreds of IDX participants' web sites. Think about this - whatever we post in MLS is visible to all potential buyers via agents' and Real Estate companies' web sites and via mobile home searches available on consumers' iPhones or other smart-phones!

What's the point in investing in sophisticated modern technologies when MLS listing information might be insufficient or even simply false.

Quality MLS listing remarks is a direct path for Real Estate agent to win on a competitive Real Estate market and to provide real professional services to the home selling clients.

In NORMLS, which covers all Greater Cleveland Real Estate market agents are allowed to post 1000 characters in Public remarks and 500 characters in Brokers remarks. We are also allowed to post up to 25 pictures and attach a Virtual tour of the listed property. However, the image above - No Photo Available - is not rare in our MLS. But the Quality of MLS listing pictures will be the topic of another sales meeting:)

MLS is one of the biggest values of American Real Estate community. That's our way to serve the home buyers and home sellers as professionally as it's possible. Let's keep it clean and useful with all the diligence and dignity.

Happy Holidays to everyone!

Everyone in Real Estate knows this feeling - deal is closed, you get your commission check, everything is done as it was designed to be, and you are very satisfied with what you've done.

And - just to make the world happier - here comes the last piece of the puzzle, BIG BONUS - an e-mail or post card from your grateful client. Gosh, I love these moments!

   I love them so much that I like to share them with my family, and my friends, and even with the visitors of our Cleveland Real Estate website.

Hi Svetlana,

I am very touched by your kind e-mail, dear Scott and Monica! I am very happy that we managed to complete this sale. I am sure that we did it because we did it together. With your cooperation, help and desire to do everything right it became possible to make it happen.

I will be happy to keep in touch with you. Any questions you have, please don't hesitate to call or e-mail me. If anyone from your family, work or friends need a good agent, you know whom to call:)

I want to extend my deep appreciation to all my clients and to people who referred my services to my clients. That's the best and the highest reward which we get when we do our Real Estate service right.

Marketing may be costly.

Commission may be big or small.

Deals may be easy or just complicated.

Client's gratitude is priceless.

Giving listing presentations to Cleveland home sellers is one of my favorite and one of the most rewarding activities in Real Estate.

One of the most important and challenging parts of any listing presentation is to answer the main question: What's In It For Me, The Home Seller?  What's in all your cool technologies for me, dear agent? What's in all your Internet advertising for me? What's in your company's Big Name for me? How shall I benefit from all your efforts?

Home sellers are better hiring the Real Estate agent only if all these questions are addressed and answered during the listing presentation.

For Real Estate professionals, there are few major goals to be achieved during the winning listing presentation:

• Understand the home owners' objectives, needs and goals

• If the home sellers' goal is to move, then define the desired time frame for making this move
• Offer and discuss with the home owners the winning marketing strategy, including the right pricing
• Discuss and make an agreement on house presentation rules, including showings and Open Houses
• Set up the communication rules, including frequency and the ways of communication
• Set up the partnership between the home owners and their agent in successful sale of the house
• If the home owners' objective is not necessarily to move or if their expectations are unrealistic, BE HONEST and explain in a professional manner that listing the property for sale now may be more harmful than useful.

Most of home sellers interview more than one agent prior to making a decision on whom to hire. There are definitely more than one thing to consider while making this decision. It's the agent's personality, professionalism, knowledge of the market, enthusiasm, experience, ability to present herself, ability to handle objections, compassion, and many more. Well prepared and well performed listing presentation is the best indicator of your agent's professionalism.

As many Real Estate agents do, I've been constantly mastering my presentation to home sellers. We created a simple document for our home sellers to help them understand our high standards and - which is more important - how they, the home sellers, will benefit from our professional work. Please review and give us your feedback on this document.

Thanks a lot!

Be safe and happy! I am not a complainer, not at all. My glass is always at least half-full. I enjoy turning disadvantages into advantages and turning advantages into benefits for my loved ones or for my clients.

My last experience with Delta challenged this attitude. As my Facebook friends know, I was taking a long trip to Ukraine and Russia. That was an amazing journey! I took part in Yalta International Real Estate Conference, I also taught classes on building Real Estate business as a system in three cities: Yalta, Ukraine; Tyumen, Russia; Chelyabinsk, Russia.

Meeting and speaking with hundreds of Real Estate professionals from Ukraine and Russia made my life brighter. Young, well educated, eager to learn and develop their business, our Ukrainian and Russian colleagues are on the edge of technology and definitely make the future of Real Estate.

I will probably write much more posts about people in Russian and Ukrainian Real Estate, about their ideas, challenges, problems and solutions.

Only thinking about all wonderful people whom I met, helped me survive the last part of my trip, which is usually the easiest one - Delta connection flight from JFK in New York to Cleveland OH.

I'm a Delta's frequent flyer, loyal and old time customer. I was never charmed by Delta's customer services but their precise timing and reasonable pricing was the reason why I kept my loyalty to this company. This time I realized that I would rather get a better customer services.

The long story short, JFK is under a big reconstruction now (hot news, huh!). Flights' delays and cancellations are part of everyday operation. Like Delta practitioners don't know about this! No information, no attempt to find a better solution for their passengers.

After almost nine hours flight from Moscow to JFK, I was waiting for my last connection to Cleveland. Everything looked fine. Information board said that everything's ok, flight would be timely, just relax and wait. That was exactly what I was doing. 

Information about one hour delay appeared few minutes prior to scheduled boarding time. That was fine. Understandable.

At the new scheduled time we were boarded,  baggage and hand bags arranged, nothing seemed wrong. It took two hours to realize that we were not going anywhere! First, it was runway, which was closed, then it was storm coming from the West, next it was Delta's regulation to taxi back to the gate the plane with the passengers insight, in two hours afer boarding, in order to avoid government fines.

In three hours of taxiing back and forth, our plane was unboarded at the gate. No information. No offer to arrange something, no excuses, no apologies. Flight attendant was doing her best  to keep everyone calm and as happy as possible but she was the one who delivered all this contradictory information, so she got her portion of people's frustration.

Then the worst part started. No information game continued. I decided to take care of myself without relying on Delta. So, I claimed my baggage. After another three hours of waiting it became clear that my baggage was lost. I need to thank Delta for safe delivering it to my house in Moreland Hills less than two days later.

I was thinking, what should we do real bad in Real estate to make our customers so unhappy and to challenge our customers' loyalty as Delta did? I tried to use my imagination but did not manage to invent anything close to arresting your customers inside the plane with no information, no hope, no attitude to deliver result, which we, the Delta's customers paid for.

Using to have my glass at least half full, I am grateful for this experience as it showed how loving and caring my husband is - he drove to New York to pick me up from there and to bring me back to Cleveland  -almost 20 hours round trip! I am grateful to my friends in New York who picked me up from the airport and brought me to their apartment. I am grateful to all my on-line friends who sent me messages of support and cheer.

I will do my best to never let my clients down. I don't want to challenge anyone's loyalty and human decency. My job is to help you solve your problems. That's what I know how to do. That's what I'm devoted to.

Cleveland Home Buyers Try To Avoid Short Sales. And miss many  real good opportunities. Why?

There are few basic fears and myths:

• Short sales take indefinitely longer than any other sales
• Contract price in Short sale can be challenged by lender
• You can not do real due diligence in short sale situation
• Property may be damaged or even vandalized and no one will be responsible for this.

There are few serious reasons for existence of these fears and for buyers' desire to avoid Short sales in Greater Cleveland:

1. Inventory of bank owned homes in Cleveland has been bigger than inventory of short sales.
   
2. Home buyers and their agents prefer to buy foreclosures rather than short sales because of more simple procedure and more predictable outcome.
3. Many Real Estate agents have no experience and training in dealing with short sales on the buyer's side. Many home buyers lose patience and quit the short sale deals because of lack of guidance from their agents.
4. Some listing agents do mistakes in sellers' qualification, pricing, documenting, and submitting the right package to the lender for approval.
5. Some listing agents do not care about cooperation with the buyer's agents and lose the deals because of lack of leadrship.
6. Many home buyers and their agents are not aware of changes in banks' attitude towards short sale.
7. First time home buyers do not want to jeopardize the eligibility for Home buyers tax credit and do not even consider short sales as an option.

However, in many cases home buyers get the great houses at Short sales and never experience any of nightmares.

We have a very recent experience in getting a short sale approved by the lender within 3 days! Very responsible owner took care of the property, so not only the first time home buyers got a great house in a very nice move-in condition, they also got it for a very competitive price!

Good news is that we have one more great short sale listing for you. Excellent condition, very diligent owners, very cooperative lender and great price! Add to this our experience in dealing with short sales, strong and proven procedures, and cooperation with very experienced in short sales Title agents.

Short Sale in Mentor in Excellent Condition

Overview Maps Photos Features Description

$100,000 Single Family Home For Sale Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1320 sqft Lot: 0.11 acre(s) Location 7687 Pinehurst Dr. Mentor-on-the-Lake, OH 44060

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

Our recent listings Short Sale in Mentor in Excellent Condition Excellent starter home in University Heights Updated ranch in Brandywine Preserve - better than new! Great Home in Pepper Pike OH For Under $300K Updated and comfortable home in Mayfield Heights Subscribe to our listing feed

See more Mentor-on-the-Lake, OH real estate for sale

Broker's Tour.

What to Preview in Northfield - Macedonia - Sagamore Hills 01/26/2010.

It was a lively discussion on necessity to preview homes for the clients of Real Estate agents on our post

Real Estate Agent's Tool Kit: How to Show the Houses To Home Buyers Circa 2010.

For those Realtors who believe in diligent previewing homes for their buyers, there is an excellent opportunity to do it at one time, with a pleasure to meet other agents, grab some food and have a fun. This opportunity's name is Broker's Tour. Or Broker's Open House. Or Office Caravan.

Local-n-Global Realty will hold a Broker's Open at our new listing at 794 Lost Creek Ln. Northfiled, OH 44067 this Tuesday, 01/26/2010 between 11:30 am and 1:30 pm.

I want to remind that there are few Broker's Opens scheduled by different agents tomorrow in 44067 Zip code area, which covers Northfield - Macedonia - Sagamore Hills.

Please be our guests and tour this wonderful home in Brandywine Preserve priced below initial construction cost!  See all the upgrades this home has to offer!  Better and less expensive than new, this is a home your buyer will love!

I will host a Broker's Open House in Big Turtle II condominium 11/03/2009 between 11:30 am and 1:30 pm. As usually, delicious appetizers will be served.

Dear agents! Don't assume that all the condos are the same or very similar. Just stop by and see how diligent renovation, great taste and decoration skills made this three bedroom Willoughby OH condo different.

It's priced obviously higher than some bank owned units in the same Big Turtle II. However, the scope and quality of renovation, love and care is incredibly larger than a difference in prices.

Your clients' carefree living, enjoyment and gratitude are priceless!

Please visit our Open House and let your clients know about this wonderful deal.

You owe this preview to your clients!

Broker s Open 11/03/2009 11:30am-1:30pm

Overview Maps Photos Features Description Neighborhood Market Stats

$120,000 Condominium For Sale Main Features 3 Bedrooms 2 Bathrooms 1 Partial Bathroom 3 Units Interior: 1182 sqft Location 5542 Bretton Ct. Unit B3 Willoughby, OH 44094

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Svetlana Stolyarova Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com Listed by: Local-n-Global Realty

Our recent listings Broker's Open 11/03/2009 11:30am-1:30pm Affordable home in Mayfield Heights Beautiful Starter Home in Richmond Heights Opportunity to build in Walden Farms Horse Property in Mesopotamia, OH Subscribe to our listing feed

See more Willoughby, OH real estate for sale

That's a great start of 2009 for Cleveland Real Estate market and for me! Another two sales completed, buyers received the keys, moved to their new homes. These were the lucky and relatively smooth transactions. Happy starts and happy endings. I represented very solid, qualified, willing and reasonable buyers in these cases.

I believe, David Knox mentions in one of his videos that there are knowers and there are learners. Knowers know everything, learners know that they know nothing and keep learning. Although I think sometimes that I know everything, I keep learning every day from every new client and every new transaction.

Few quick observations and important lessons learned from these sales.

1. It's not so many active agents on the Cleveland Real Estate market! What a relieve and a pleasure working with the agents today. Most of them - at least those who really sell - are very professional, knowledgeable and nice to work with.
2. Agents who are only working on acquiring more experience, are getting a very good Real estate school: punctuality, quick response time, professional e-mail signatures, very solid web sites - these are all very good lessons learned in this school. That's impressive.
   
3. Experienced agents (including myself) sometimes make stupid assumptions. That happened in my last sale when sellers took away washer and dryer because they just did not go through the contract, which clearly stated that these appliances should stay. They and their agents - very good and experienced team - assumed that buyers did not ask for washer and dryer because they were not listed in MLS. That happened mostly because the sellers were out of town when offer was received, and I had no chance to present it in person, as I prefer to do. Personal presentation of the offer by buyer's agent leave no place for any wrong assumptions or misunderstandings regarding the terms and conditions.
   
4. Experienced agents are good in finding the right and quick solutions for almost any situations. We found one, too.  I am very gald that both parties were represented by right professionals and, as a result, everyone is happy.

The lesson which I learned from this situation is:

REFRESH THE CHECK LISTS! IT IS A GOOD IDEA TO INCLUDE THE OUTLINE OF THE OFFER IN THE COVER PAGE ESPECIALLY WHEN YOU SUBMIT YOUR OFFER ELECTRONICALLY OR BY FAX. DO NOT RELY ON OTHER PEOPLE'S ATTENTION TO DETAILS.

Need to buy in Twinsburg, Solon or other communities of Greater Cleveland? Call Local-n-Global Real estate Hotline 877-770-5551 or e-mail to: Realty@Local-n-Global.com.

People love free stuff. Free is a magic word. Whoever gives something away  - for FREE! - feels like a God, like generous, kind, almighty God who makes people happy and smiling. What a gracious life!

You may know this feeling if you are Real Estate agent and work for home buyers in Cleveland or in other parts of America. Why?

Because here in America home sellers pay Real Estate commission. Buyer's representation is apparently FREE!

Is it really free or it's not?     

That's a good question to discuss with your potential clients when you ask them to sign the Consumers Guide to Agency Relationship, which is required by law in State of Ohio. Indeed, the tradition is that the sellers pay Real estate commission. Sellers also authorize their agent to offer part of this commission via MLS to cooperating brokers for allocating the buyer who is ready, willing and able to purchase the seller's property.

According to this tradition, only sale of the property listed in MLS leads to the buyer's agent's commission. Agency relationship itself is not the basis for monetary reward. That's why discussion of Consumers Guide to Agency Relationship is so important for both buyers and Real estate agents.

What buyers can ask?

O.k. dear Agent! You say that I don't pay for your representation. Commission will be paid by the seller. Does it mean that you in fact represent the SELLER's best interest, not mine? What's the point to hire you if any Real Estate agent in your MLS in fact represents the Seller?  Does it mean that if I go to the seller's agent directly I can actually save some money and get the same level of representation as you can offer to me? Why then I should be loyal to you? What's the point?

What agent should say about agency and money?

Dear Mr. and Mrs. Buyers! If you need a professional, knowledgeable, experienced Real estate expert on your side, you should hire one. Good news is that more likely it will not cost you additional money. Yes, we get the commission from the seller if you buy the property listed in our MLS. In fact, over 85 % of all Real estate is selling via MLS. There is a real high probability that your dream house will be listed in our system.

There is also a high probability that the listing agent is skilled enough to offer a decent commission split to the buyer's broker. Real Estate is my profession and I do it for fee. The fee structure is favorable for the buyers, so you may end up by paying no extra fee for my services.

However, some properties are offering by owners who chose to offer a very small fee to both listing and buyer's agents. Some owners chose not to utilize the professional services of Real estate agents. I will ask you to sign the Exclusive Buyer Agency agreement if you want me not to limit your choice by considering only MLS properties with adequate Real estate commission.  You may be required to pay commission directly to my broker on the top of the home price. I WANT TO REPRESENT YOU DILIGENTLY  REGARDLESS THE SELLER'S INCENTIVES OR GREED. Fair enough?

That's how the most confusing part of agency and commission problem may be cleared by simple discussion of Consumers guide to agency relationship.

This post is the second one in the series of posts dedicated to the agency relationship.

In my previous post How to Use Consumers Guide to Agency Relationship we spoke about client's confidentiality and agent's fiduciary duty to keep the client's confidentiality, no matter what happens.

Need to buy the house in Solon, Pepper Pike, Mayfield, Lyndhurst and other suburbs of Greater Cleveland?

Call Local-n-Global 24/7 Real Estate Hotline 877-770-5551.

I am very glad that Barb Szabo started the conversation about the Consumers guide to agency relationship. When Ohio adopted this rule many agents in Ohio were releived, as previously we were obligated to sign the Agency disclosure form with our potential clients. Agency Disclosure contains more strong language about representation which many clients considered as obligation to be represented by this particular agent.  

My point is that obligation to review the Consumers guide to agency with the potential client may be a big opportunity for Real Estate agents to present our services, advantages and professional principles, and eventually build a strong, healthy, professional agent-client relationship with our clients. It also helps to avoid any further confusions, disappointments and liability.

First of all, Consumers Guide to Agency Relationship is the summary of the Real Estate company's policy on agency. Not all Real Estate companies are created equal. Consumers guide is not the same form for each Real Estate company! Each brokerage has its own policy and it is important for the consumers to know the details. The best way is to review the Consumers guide to agency relationship with your agent and ask the questions if you have some. 

Dear agents! That's an excellent chance to discuss with your client the advantages of working with you and your broker. That's a very good time to present your Unique Value Proposition to potential client. That's why it's smart to make a discussion of Consumers guide to agency relationship a part of listing presentation or Exclusive Right to represent a buyer presentation.

I think, conversation with potential client about the Consumers Guide to agency relationship is a very good starter because it should happen at the point where the potential buyers or sellers decide whether do or do not disclose confidential information to this agent.  Real Estate agents know that confidentiality is the only fiduciary duty which stays with us forever, no matter did our agency relationship with the client end by sale or not.

If you are not comfortable with me Mr.Buyer or Mrs. Seller, I would rather NOT receive any confidential information from you! Agency relationships start not at the point when you sign the Consumers guide to agency. It starts when you tell me about your financial situation or disclose any other confidential infromation.

I am proudly representing many of home Sellers  and home Buyers in Greater Cleveland. 

Need to sell your home in or condo in Cleveland Heights, Pepper Pike, Lyndhurst or anywhere in Greater Cleveland?

Need a loyal, knowledgeable, experience Real Estate agent to represent your interests in buying a home in Solon, Twinsburg, Aurora, Orange, Mayfield or other suburbs of Greater Cleveland? 

Call 877-770-5551 - we are here for you 24/7.