Like many of you, I work all week then do time on the weekend trying to get caught up on paperwork.
Well, I have become frustrated with having to pen and paper all the forms needed to transact up here so I have decided to work smarter not harder. 
I took 5 new listings in last week - all of which I had to write 50% of the documents by hand.
I have grown tired of wasting  my time with pens and paper.

I HATE IT!!!
I HATE IT!!!
I HATE IT!!

So in my never ending quest to find a better way of doing everything, I took off my Realtor hat, blew off the dust off my IT geek hat and tackled my hatred of pen and paper thusly.  I hope some of you will understand the benefit of this undertaking and get ideas from the rest of this writing.

You will need a copy of Adobe Professional and a scanner. It has to be the version where you can create documents. 

I found it very easy to compile a list of the documents I needed to do routine tasks like an attached listing and what not. Collect one of every one of these forms and run them through your scanner into ADOBE. Then use ADOBE to make every single check box and text box writable. (this is the tricky part and don't even ask me to explain it)

Once you have completed that task, you will have a full Adobe document several pages long that you can upload to the MLS listing site in "Brokers Forms" and complete fully through a browser. The benefit is not killing trees to keep a stock of useless paper around.  Converting everything into Adobe also means that you can carry all of the product packets with you on thumb drive in case you cannot get signal on your laptop somewhere. I will not go into the benefits of cross-population of data fields and what not but keep it simple to say that our agents can now write up a listing in 10 minutes while the client is sitting there. Instead of handwritten nonsense, we have professional-grade typewritten forms generate out of printer on demand. The rental clients like the ability to complete all the rental application documents on-line at a spare station in privacy. Many of you are going to say "we already do that". But think about that annoying accounting  form that is 14" long and is a pain to complete. For us, this is all part of the online set.

Over the past few weeks I have created packets that include MLS docs and our internal routing and control forms.
We complete the forms needed to list the transaction and the office paperwork all in the same step.
I have created:
A complete listing packet for attached (24 pages long)
A complete listing packet for detached (26 pages long)
A complete listing packet for deeded parking (22 pages)
A complete listing packet for rental (18 pages)
A complete packet for purchase (28 pages)
A complete packet for lease (12 pages)

Working on:
Business
Retail
Commercial
Industrial
Open Land

The other benefit of doing things this way is that we have expanded this idea to have pre-completed sale/lease forms containing property specific details already prepared with the owner information already populated. We have uploaded them to a common storage location so any agent with an interested party can complete the buyer/lessee portion of the documents, have he client sign them and move on to working the acceptance. Now everything goes into the seller/lessor with a very professional appearance and is clean and legible. We also outfitted the office with a central scanner to capture signatures on both sides.

Before you ask, yes I even went box-by-box and converted the MLS listing input forms so we could complete them through a browser and didn't have to print them out and do it by hand (which I absolutely hate). You would not believe how much happier the other agents are at the prospect of not having to do this pen and paper nonsense anymore.

Here is a weird scenario. Excuse me if this is redundant to many of you - I have not been keeping up with the posts. Miss you Becky...Miss you Phil...Miss you Greg....

Anyhow, I have a couple of properties that are stagnating on the MLS with little to no walk-throughs. The units are well priced and show beautifully. We have been doing tons and tons of promotion and run weekly open houses on all my listings. My team divvies up the listings and everyone works every weekend. 

Anyhow, I put a few listings on Zillow last night as a test to see if that had any effect. 

I had 17 e-mails this morning asking for more information and requesting viewing appointments on the whole array of properties.

As many of you have pointed out, the Zestimates are a little askew but somehow all my listings came in priced below the Zestimates. Anyone else have the same result?

When you get involved in the Real estate business, you come across the true nature of humanity. You get to see and the good-hearted, well meaning people that truly act in their clients interests as well as all the bottom feeders that are really only looking for their next paycheck.

While I will admit that I have seen a fair share of client neglect from some agents, that is not what this blog is about. This blog is to tell a better story about someone who really showed they are a true gentleman.

I had a very attractive listing that I had been trying to sell for a short time. The property had been listed with another agent previously for a year with no result.  The agent, works for the same company I do, called me and asked me to get involved as he believed my marketing strategies would be more effective and would get the property sold. (long story short, it did and the property sold quickly)

I recently had an occasion to meet the the previous listing agent in person at a function about a month ago. Obviously we knew each by this property and, since we had both worked on this particular listing, knew the background of the other. Previously we had only spoken over the telephone so we introduced ourselves formally and made some polite small talk during the course of the evening.  All-in-all a very pleasant evening.

About a month ago,  I got a call from that agent asking if I would handle a Lakeview client of his that he does not have the time to work (more on this later). Needless to say I was surprised. However, he congratulated me on selling the listing he had not been able to and remarked that he had gone through all my web pages and liked the diversity of my advertising and marketing. So much so, he told me what day his most recent listing contract was going to expire and that I should expect a call from the property owner the morning after. I was speechless but thanked him. He even turned down a referral fee!

Not being one to count the chickens before they hatch, I waited for the day to come. Sure enough, the property owner called me when I was told he would and asked if I would handle the re-listing of their property. It is a small 1 br unit that will move slowly but I am honored this other agent thought enough of me to refer a client. After talking with the client for a few minutes, I discovered that this is a serious investor that wants to purchase an additional 10-15 rental units in the next 5 years. He told me that this small unit would be the first of the sales he intended to make and wanted me to handle all his property buys/sells based on the other agents recommendation.

Obviously the other agent knows that he just gave away over $3,500,000 worth of property transactions. I called him and said thank you again (this time with a lot more excitement). He told me that he wanted his client to be taken care of and he only wanted to give out referrals to agents that he felt good about.  (This agent sells over $10M a year so his recommendation means something with a lot of powerful people). Again he turned down a referral fee when I offered!

Instead he told me that he was moving South and that he was going to look into land speculation. He doesn't want to be in the buying/selling game any longer but wants to make certain his better clients are taken care of. I know I have some big shoes to fill, but I will endeavor to do my best!

Thanks a million (or three) Gino! Have a great pseudo-retirement!
You're clients are in good hands!

It's Friday, it's the beginning of a new month and we are gettting our fair share of people who are 6 days over their terminated lease and are now being told to move on or resign. I have taken three calls already this morning from resident propspects who NEED to move RIGHT NOW  so they only want to look at units in "this buildling" that are vacant. My favorite nut job I will call Robin.

Robin called and left a message on voicemail this morning about 7:30 am..... then again at 8:00 am, 8:15 am, 8:23 am, 8:37 am and finally 9:02am she reached Trisha our receptionsist. We open at 9;00am. Robin was upset becuase no one called her back after she left her first message at 7:30.

Being the lucky agent on floor time, I talked to her. She gave me the whole run down on how she got screwed over by her current landlord in a verbal rent-to-own deal gone bad and now she has to relocate becuase the owner accepted a contract for sale. (I wrote the contract hee hee)

We have two listings in the building that are vacant so I offered to show them to her. She came down in the elevator and we proceeeded to got through the two units. I told here the rent price ($1450 - $1500) and assured her  that is current market rate for the building. No comments.

We came back to my office where she proceeeded to give me a full dissertation about how overpriced the rent market is here and that she would not pay move than $1000.00 for a 1 bedroom rental on the 39th flloor.  I then got an ear full of how the owners are greedy and she is confident there is a conspiracy of price fixing going on.

Of course I assure her that offering a price 2/3 of the asking price will likley be rejected without a second thought. She tells me that it is my job to get her what she wants and I should stop wasting time, get on the phone while she is there and get cracking. It was now clear she was a nut.

So I called the owners of the units and made the offers. Both owners imediately rejected the offer of a lower rental price.  She became visibly disturbed and started screaming that we were a part of the price fixing and that I should tell the owners to make an exception becuase of her situation. I explained that no serious investment owner is going to loose $6000.00 just to be a nice person. She told me that she was far too busy to move from the buildling and that I had better keep trying.  I explained that we have to give unit owners market data before they list with us and that the price they are asking for the rental is right in line with market rental price. I even pulled up a the last year worth of rentals to show her the prices were reasonable.

Without warning, she shot up out of her chair and stormed out of the office screaming "You f**cking people are not willing to get me what I want at a price I can afford.  If I have to move, it is all your fault!" SLAM!

This is all before 9:30am mind you.

Any other horror stories that catch you by suprise that early?

 

Has anyone ever used the lead generation services these people provide.
While "Sam" was charming and informative, their offer of being the sole agent they refer clients to in a purchased zip code strikes me a little suspicious. I have used lead generation services before and had horrible results  - so  - anyone wanna spill the beans and give me a little insight?

Well, Sunday was the Gay Pride Parade in Chicago.
My hubby and I went and gave out all the premiums we had for the event.
A while back I posted a note on here that were were sponsoring three porta-potties for the event in an attempt to drum up business.

Here is a photo of me (beer belly intact) and my proud accomplishment!
The vendor limited the size of the advertising so we have to use 8.5 X 11 signs rather than the 11X17 I had printed.  Darn!

 

$315,000.00 home purchase representing the buyer
Buyers initial credit score at first contact - above 700
Pre-qual letter faxed over to me before first viewing showing fully qualified.
Current credit score: less than 500 
Currently, now on mortgage broker #6
Clients check to the appraiser......bounced. (forwarded to authorities)
Clients check to the inspector......bounced. (forwarded to authorities)
Waiting to hear if earnest money deposit check has bounced.
Attorney has decided to have earnest money check returend to self for dispersal if closing doesn't happen. (At least she will get paid)

You would be amazed at how badly someone can trash their credit score in 4 months.

Always looking for a new way to mix a little humor into our advertising, we have decided to sponsor three portable restrooms at the next neighborhood parade event.
The parade is a gay pride event and, as the day progresses onward, generally moves from lighthearted festive function to hardcore drinking and partying event.
Not to be left out, we are generally smack-dab in the thick of it!
Figuring people will need something to look at as they stand cross-legged and hopping up and down on one leg  waiting in a line 30 deep for a "comfort station", the event organizers have allowed station sponsors to post advertisements on the the station doors.
After much though, we decided our ad's would be a three separate views of flowing waterfalls with our domain name at the top. Seeing three of these things in a row will leave the standees little to look at while they wait patiently.
While they look at the water....
The flowing water...
The large volume of endlessly flowing water....
Imagining the sound of the flowing water........
While they stand there....
Helpless until their turn comes.....

Prospect: Hi , yeah I'm looking for a 1-2 bedroom. Do you have any I can see right now?
Me: Sure, do you prefer North or South views?
Prospect: North. I want to look at the Lake.
Me: Great! Let me grab some keys and we can go view a couple of units.
(visit a unit on high floor and mid-rise floor)
Prospect: I love it! What do I need to rent the unit?
Me: It's a simple process.  I need you to fill out this rental application and the owner has requested a credit check. While we run the credit check, we can get working on the lease itself.  How's that sound?
Prospect: Great! (writes $50.00 check for credit check)
(run credit - it's awful)
Me: Well, here is a copy of the paperwork. I am going to send it all over to the owner and we should have an answer later today if not tomorrow. 
(prospect leaves)
Check bounces....
Telephone calls go unanswered...
After two weeks, we consider the prospect MIA.

Seems like a lot of work to do just to get a free credit report. This is now happening with regularity.
I wasn't aware when I renewed my license that we would be a new outlet to Trans Union and Experion.

Here is an odd situation.  Weigh in with your thoughts please...

I have a deal pending that is slated to close on May 18th.
Yesterday I got a call from the mortgage broker asking if I had spoken to the client recently. (red flag)
The broker advised me that when the appraiser went to cash the check the client had written him, that bank told him that the account had been closed for some time. (red flag)
The mortgage broker then called the client's employer and was told that the client didn't work there. (red flag)
Being so close to closing, the mortgage broker was obviously shaken and demonstrated such over the telephone. He asked for my help in contacting the client. I agreed  and began the quest.
I called the contact number I have for the client in an attempt to reach him - the phone was disconnected. (red flag)
I called his fiancé in an attempt to reach her to reach him - her phone is disconnected. (red flag)
I called the fax number for the fiancés home-office (only other number I have) and let it ring until a live person answered. I spoke with the fiancé and told her I needed to hear from the client immediately. Fiancé then told me that the wedding was off and that she didn't know where client was but she suspected she would hear from him later that day.  (red flag)
Now fully invested in making contact with the client out of nothing more than curiosity, I found a number listed for the clients home address. I called and his grandmother answered.  She has not seen client in several days and does not have another number to reach him. (click) (red flag)

SO then I called the attorney handling his side of the closing.  She heard from him earlier this afternoon and read me the number from her caller ID box.  I called the number and the client answered. I asked about all the phone disconnections and where he could be reached.  He provided me with another telephone number as I was apparently calling him at work. (write that number down!)

I told the client to call the mortgage broker as he has a bum check that needs to be satisfied. Client also tells me that the check he wrote the inspector would also bounce because the bank ( blah...blah...blah).
I reiterated that closing is just under a week away and this would not be the opportune time to start a bad check campaign.

I called mortgage broker and advised him of contact with client. Mortgage broker asked me how long I had worked with client. I advised him that I had only met the client twice while doing viewings before we wrote a contract.  At our first meeting the client produced a 100% Pre-Acceptance letter from a different mortgage company and presented well and well dressed. I had to advise him that outside of that, I did not know the status of his personal affairs.

So then the mortgage broker came straight out and asked if I knew if client was presenting false documentation or was involved in an id theft scam to buy property.  I wasn't quite sure how to answer outside of offering to fax over everything I had in the file that I could so he could match it with his own paperwork. We discussed the client poor credit rating and how the client had a string of disconnected telephone numbers to his credit.

 Client  - of course - says it is all one big misunderstanding and that the bank is to blame.

Thoughts?

 

A while back I posted a comment about a Realtor that was stalking another agent open house looking for clients. I have a follow-up story to share with all of you about that agent. People always talk about "getting what's coming" - I think this is the best example I can think of.

I was working on expired and canceled over the weekend. It yielded a bunch of appointments this week but one I am very interested in.  It is from a client that canceled on the agent we met in the stairwell that Saturday afternoon. Apparently, initial contact was made when the agent approached her in a neighborhood grocery store while the client was walking and talking on her cell phone with her husband about the prospect of selling. Add eavesdropping to the agent's list of sins. 

Anyhow, the agent apparently came off very sweet and even offered to do the listing at a discount of 3% stating the market was so bad that it would take more time and effort than an average listing. They agreed to meet so the agent could present. They met, she presented (see below) and the listing was made. Now for the interesting part.

The client told me that during her presentation, they were told that the Real Estate market was full of unlicensed agents acting covertly to make money and that there were numerous holes in the Real Estate licensing process in Illinois that could be exploited so people didn't even have to sit for the test if they knew how to work the system. Therefore, it would not be unreasonable to believe that ANY agent (other than her) could be walking in to their home and soliciting for a listing that they had no legal right to service. She apparently went on to say that many of the local competing brokerage offices were well-known to make a regular habit of seeking out "non-licensees" and putting them on the streets to get listings at higher commission rates to fund payoffs and hush monies. So, as a favor to them , she would be happy to present her license to them so they wouldn't have any doubt she was legit. (clever pitch if you think about it - totally illegal - but clever.)
The clients apparently asked how long the standard listing period was. The agent apparently told them that the State had mandated that the listing period can be no less than 1 year from the date of signature. So, to be in compliance with the law, she would have to take the listing for the period of one year from signing date. (totally untrue).
They asked what their 3% was going to get them in the way of marketing. She presented them with a typed page of the scope of marketing they would receive. They were not allowed to keep it but were allowed to read it while she was there. She presented it as the standard litany of services they provide in order to properly service a listing. They were impressed, they signed.

Fast forward one month of complete inactivity and no contact from the agent. Numerous questioning phone calls later, they got a call back. They apparently asked simple questions like why wasn't there a yard sign yet? It's on order. We have been looking on Realtor.net for our listing to be showcased but we haven't seen it yet. Where is that? I will have to check. What about open houses? Weren't we supposed to have open houses? Yes but we cannot do them right now, the market is bad and it won't sell until the market is right.

Fast forward another month of inactivity. Several angry phone calls finally get a response. What are you doing for us? I am working under the contract you signed. What about advertising? Look at your contract. If you want me to do more than what I am already doing, it is going to cost you about $500.00 per month in advertising fees. (outrage, expletive, etc...)  Attorney gets involved. Agent willingly canceled listing agreement. Client, with attorney help, files complaint of misrepresentation and fraud. As of today - agents license is now suspended.

Just desserts me thinks.....
  

I have decided I am no longer content living in the home we purchased a mere four years ago.
While the area boast a Frank Lloyd Wright original right across the street, it's subtle charms are now lost on me.

Can you help me find a house?
I want to live where my clients want to buy property...in LA-LA Land!

In LA-LA Land you can get a five bedroom house for under $150,000 with a credit score of less than 475 on stated income or public assistance monies.

In LA-LA Land, actually paying your taxes is not nearly as important as paying homage to the method by which they are delivered. (Direction-impaired magic sprinkle fairies so I am led to understand)

In LA-LA Land, property values never drop. An annual appreciation of 25% or more is almost certainly guaranteed despite numerous unoccupied properties and the bountiful smell of charred aluminum siding filling the summer air like jasmine.

In LA-LA Land, there are no restrictions on how many people can occupy a property. The property simply grows new annexes to accommodate everyone that wants to move in.

 In LA-LA Land, maintaining a property full of discarded refuse and dead landscaping is viewed as contributing to the environmental movement. All those vitamins and minerals can't do anything but improve the condition of the soil and aesthetic appeal.

In LA-LA Land, you get to keep as many pets as you want because housebreaking/litter pan training new pets simply consists of waving a magic wand over spots on the carpet and piles in the rooms. The smell of pet refuse is magically transformed into Lavender and fresh baked muffins rather than the traditional musty odor.

For all these reasons and many more, I want to live in La-La Land!
Will you sell me a house there? 

Finally!

Low down on the list but I made it!
Do I get Becky bat or something?

Fourth phone call today from someone in foreclosure that wants to list.
Faxed over the listing paperwork....
Referred them to a mortgage broker who specializes in foreclosure for review and guidance...
Referred them to an RE Attorney that can help temporarily stave off the inevitbale...

But I am left wondering...
When we sat down and signed the mortgage, before I was a Realtor, the mortgage broker was extremely clear that ARM's adjust and they can adjust considerably upward if interest rates climb. Understanding that, we opted to choose a less expensive house so we could always make the mortgage payment regardless of rate adjustments. Two years later rates bottomed out and we financed a 30 at 5.25%.  We are not going anywhere so this suits us well.

I fully understand the American education system has it's defects but when did the general public loose it's capacity to rationalize that HIGHER = MORE and that dreaming of a 10% pay increase every year to pay for rate changes simply isn't practical. When you work a $36,000 job and buy a $400,000 note on a 3/1 ARM at 100%, what about this situation makes you say "Hey this is a great idea!" I see the same thing for people that have nine part-time jobs and drive a Hummer.

When did I miss the memo that brainwashing was IN and that significant efforts were being made to dumb down the public? I cannot believe it's in the water so where did all this head-up-rear syndrome come from? Now I have depressed myself....

I believe myself to be ethical and that includes not snaking clients at open houses as they ascend the stairs to the models.
Yesterday, my partner and I were going to local open houses and checking out the inventory.
We dressed down cause it was a beautiful day.
I believe in handing out my card directly to the hosting agent upon arrival so there is no confusion about why we are there.
However, on our way up to the listing, we were cornered in the ascending stairwell by another local agent who literally blocked our path on our way up to the unit and advised us about a bigger two bedroom she had in her inventory several blocks away. Literally she didn't clear the way until she had rummaged through her purse and produced a business card and a request to "call me".
 
We discussed it and decided that if we were buyers, we wouldn't call her simply because we consider her actions to be sneaky. If it was a matter of fact conversation, that's one thing; if we had asked that's another.
But to stop us dead in our tracks was way out of line. I immediately thought, "Don't waste a business card on her introducing yourself. This is someone whom you don't want to know."

I am just as competitive for buyers as the next guy but stalking other open houses drumming up clients is just something I find distasteful. We later found out that she has a development that isn't selling well a few blocks away.  We ran into it by dumb luck. She wasn't there but the other agents hosting the event were very candid that she is very aggressive and was not attending because she was canvassing the neighborhood for business. I asked if their definition of canvassing included sabotaging other agents open houses by redirecting clients. They just smiled politely. We left and moved on.