I don’t care about your team

Team
Team

Teams are popular in real estate. They are made up of real estate agents and administrative staff. Teams are a great way to defuse responsibility. When something goes wrong, one team member can point to another as the responsible party.

Most teams have some kind of a “transaction coordinator”, which seems to be a bottleneck in the system. An agent representing a buyer will tell me that I need to wait for the transaction coordinator for a signed document. In my world everything is electronic and I can send out any document and get it signed within minutes even if I am away from my desk.

There are buyer’s agents on teams; all they do is represent home buyers. The buyers are leads that the team “captured”. A buyer’s agent can have many transactions in a year and they have to work that way because they often only get a small percentage of the commissions they earn. The rest of it goes to the team lead and the broker.

If you call one team member to ask about a home the team has listed for sale, the team member doesn’t know anything about it and will pass your call along to the listing agent.

Selling real estate isn’t really a team sport. The whole point of the team is profits for the leader at the expense of the broker.

Don’t be too impressed if you are a home seller and a real estate agent tells you they are part of a team and that the whole team will work for you. They won’t.

This may sound like a cliche but when I work with a buyer or seller the buck stops here. I take responsibility for the home sale or purchase. I do work with others as I pass contracts along so that the sale can be closed. I know inspectors, lenders and people who can fix things. In a way, they are all part of my team yet I am the one who is responsible and all my clients only need one contact.

 

State fair time 2024

Nothing like the Minnesota State Fair and it starts today  (August 22th) and ends on Labor Day. I go to the fair every three to five years. Our state fair is the largest in the county by average daily attendance and the second largest in the country by total attendance. It is a big deal if you have never been you should go.

State Fair time is also a great time to check around for sales. I have purchased major appliances and gotten some great deals. Look for siding, window, and roofing sales. Visit the home improvement building at the State Fair.  

For me, the best days to go to the fair are the first couple of days when everything is still fresh. Going after dark or getting there when it opens is fun too. The State Fair changes a little every year but never really changes. I still remember going with my parents and grandparents when I was 5 years old.  My dad and Grandfather would head for Machinery Hill and the livestock barns.

My favorite exhibits are in the Creative Activities building, which isn’t for everyone. I won’t get to go to the fair this year but there is always next year.

ferris wheel
Gain wheel

 

Vote Today

Voting on West 7th in St. Paul
vote

There is early voting so maybe you can vote today.

What is a primary election?

If you are not sure where to vote find out here.

If you want to know who is on your ballot you can get a sample ballot and look it over ahead of time. As for how and when to vote go to your county website for the details.

In Minnesota, you can register at the polls on election day. Find out how.

This is a great opportunity to register to vote on November 5th 2024.

Your vote does count and so does mine and I always vote.

 

Is Air Duct Cleaning a Scam?

I have met homeowners who believe air ducts need to be cleaned regularly.  I am sure it doesn’t hurt to clean air ducts but it might not be necessary.

According to the EPA Duct cleaning has never been shown to actually prevent health problems. Neither do studies conclusively demonstrate that particle (e.g., dust) levels in homes increase because of dirty air ducts. This is because much of the dirt in air ducts adheres to duct surfaces and does not necessarily enter the living space.

However, the National Air Duct Cleaners Association (NADCA) recommends air duct cleaning every 3 to 5 years.

If there are rodents in the air ducts or mold or some other air quality problem related to the air ducts they may need to be cleaned.

Air duct cleaning is sometimes sold along with furnace tune-ups. Furnace inspections and tune-ups should be part of yearly home maintenance. In most cases, duct cleaning is an optional add-on.

furnace collage
furnaces and boilers

The couple who wanted the loft

housesI rarely share details of transactions on this blog but today I am going to share. I’ll change the names and location to protect the innocent and the guilty.

Once upon a time, there was a beautiful loft for sale. There were a few interested buyers. One couple saw the place three times. Their agent said he had an offer and he would send it at X time. The sellers were notified and standing by but the offer never came.  The buyer’s agent kept in touch and kept mentioning that there would be an offer but none came.

Then one day a near-perfect offer came along. Qualified buyers who were able to accommodate the owner’s preferred closing date and no contingencies. The owners of the beautiful loft immediately accepted the offer.

The other interested party found out and their agent called and told the listing agent that she was supposed to let the buyer’s agent know about any offers. The buyer’s agent never asked to be informed about offers and even if he had the sellers can decide not to share that information. They can ask their agent to not disclose the existence of other offers.

Bottom line a home can only be sold to one party and often several parties who wish to buy it. Homeowners only need one offer.  When a great offer comes along the seller can and should accept it. Home sellers are under no obligation to have their agent let interested parties know that there is an offer. 

The buyer’s agent claimed that he knows how things are done and that any other listing agent would have called to let him know about an offer. That had been his experience during his three years as a buyer’s agent.

Buyers planning to buy should make sure they are ready to buy before they start looking. Once the right property is identified it is time to make an offer. Waiting rarely works out. A buyer’s first offer should be his best offer. Agents should not repeatedly promise an offer before the buyers. When there is no offer the agent loses credibility with the listing agent and the sellers.

One universal truth about buying or selling residential real estate is that every situation, client, and home is unique. We have to be prepared for every kind of scenario and never make assumptions about what buyers or sellers will do. We expect the unexpected.

Agents should refrain from saying they are going to submit an offer unless they are sure. If an agent says they are going to do something at a particular time they should do it or at the very least call the other party and let them know what is going on instead of making them wait.

Kevin the white squirrel

White squirrels are kind of like the West 7th neighborhood mascot. They are all named Kevin. None of them come when they are called but they can be seen scampering up trees and of course, burying nuts.

There is even a bar on West 7th Street, at James Street named “The White Squirrel Bar”. The West 7th area has an abundance of bars and taprooms. It is a drinking destination for people who live in the Twin Cities.

Bar with Squirrel Muriel
The White Squirrel Bar