Friday fun

Finials and flowers

It is Friday and Friday are for fun but it is spring and I am tired.

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Turret with a finial on top

Flowers

Flowers

That is all I got. Have a nice day.

For Home buyers

The camera in my office

on cameraI have a camera in my office. You would never notice it unless you were searching for it.  The camera can be operated remotely from an app on my phone and I can see the entire room anytime from anywhere.  I can set it up to send me alerts if the door opens or if there is any movement in my office.

If someone broke in while I was away I would be alerted and I could call the police and record all of the action. My camera also has speakers so that I can hear what is going on in the room. I won’t go into detail but there are items in my office that I need to run my business. I have redundancy built into my systems and my data is backed up. The camera adds an extra layer of security.

Cameras that are connected to the internet are becoming more common in homes. I have shown homes to buyers and noticed cameras in the house and sometimes the little light is on which could mean that someone is watching and listening to me and my clients as we tour the home. Once I walked in front of a computer monitor while I was in a home and could see the blue light on indicating that the camera is active.

I have also noticed that there are more homes with outdoor surveillance cameras. Just something to be aware of when house hunting. You may be watched and recorded as you go.

Boardman Realty

Just say no to dual agency

Marcie statue

Marcie reading up on dual agency – Rice park

In some states dual agency isn’t allowed. It is allowed in Minnesota as long as both parties are informed and they give their consent.

In Minnesota we have a law that says as a real estate license I have to explain dual agency and give potential clients a Minnesota disclosure document called “Agency Relationships in Real Estate Transactions” here is a copy: agency disclosure .

Yet agency is misunderstood. If you list your house with a real estate agent and that agent brings in an offer from a buyer that she is representing you now have dual agency which means that agent can not represent the buyer or the seller but instead becomes a facilitator. The agent facilitates the sale and can not do anything to the advantage of one party and the detriment of another. No matter what the seller or the buyer have signed with that agent previously they are not in a dual agency situation until both parties agree to dual agency by checking the box on line 229 on page 6 of the purchase agreement and signing lines 234 and 244.

What most home sellers and buyers do not understand is the way the word broker is used in the disclosure. If an agent from real estate company A lists a home and another agent from real estate company A brings in the buyer there is dual agency because they have the same broker.  All agents work under a broker and most people have no idea what a broker does or who that person is.

There are a couple of large real estate companies in the area that have one broker for a few thousand agents. When they list your home they will tell you all about the networking and how they will market your home to other agents. What they don’t tell you is that if one of those agents brings in a buyer those agents go from being able to advocate for their clients to being facilitators.

The rules are broken often as agents from two offices of the same real estate company under the same broker both advocate for their clients.

Home buyers need to be aware when they go into an open house or new construction the nice agent who is showing them around is representing the seller and anything they say can be to their detriment later on. Buyers should choose an agent to work with who will work for them as an advocate and not just a facilitator.

I am just writing about Minnesota. Real estate is locally regulated and the law may be different in your state.

Related articles about dual agency Agency and dual agencyAgency in real estateAgency and the open houseAgency? What is agency?What consumers should know about agency

For Boomers

Blooming trees

The trees are blooming. If you have a flowering tree in front of your home take a picture of it while it is in bloom. Have that photo included with photographs of your home when it is time to sell. It doesn’t hurt to take photographs of other plants in your yard in the spring if you plan to sell in the fall or winter.

Flowering Crab

Flowering Crab

Local Market Conditions & home prices

Housing market recovery uneven

Neighborhoods with highest priced homes

Neighborhoods with highest priced homes

Neighborhoods with lowest priced homes

Neighborhoods with lowest priced homes

The housing market is still in recovery. If you look at the top chart it showing the average resale price of homes in the St. Paul neighborhoods where homes are the most expensive and the bottom chart shows the neighborhoods where homes are the least expensive.

Click on charts to make them larger.

General Real Estate News

Just passing through

Many west 7th street businesses do not want a light rail line running down the middle of West 7th street. I am not in favor of it either for several reasons. I have attended a few of the public meetings and have concluded that the opinions of people in the neighborhood are not really taken seriously. Feel free to stop inside a West 7th business and sign the petition.

No Light Rail line on west 7th

No Light Rail line on west 7th

 

Businesses say no

Businesses say no

 

Contact

Teresa Boardman
Realtor®, MN,
Licensed Broker 20624860
Boardman Realty LIC 40419051
651-216-4603
teresa(at)tboardman.com
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