OKCMAR started offering Transaction Desk while I was taking a break from selling Real Estate, so it was a pleasant surprise when I got back in the game.  There they were!  All the forms!  Wow!  You didn’t have to go to the Filing Cabinet of Doom in your office printer room and hunt for the right forms through its archaic grid organized by sadistic trolls, or anything!  The only problem was you still had to print them out, on paper, and physically sign them with a physical pen that you physically stole from the title company down the hall.

So I decided to buy myself an iPad.  And it’s been great — but there are a few things I wish I’d known.  For now, these issues prevent me from using my iPad as my sole work computer, but don’t keep me from using it on a daily basis as a very useful business tool.

USING THE MLS

You can’t access the current full version of Tempo (our MLS system) in Safari.  (You didn’t hear this from me, but I think there’s work being done to make the next incarnation browser-independent.  I can’t WAIT.) I wish I’d understood this before I bought it — not that I would have changed my mind, I was just very surprised and disappointed when I found out.

There are two things you can do:

You can pay an extra fee to OKCMAR for Tempo Wireless.  (ETA: Tempo Wireless is now Kurio Mobile.)  Yes, I do, because it’s actually a very easy-to-use site you can see and navigate easily from most mobile devices and is great for when you’re on the road and need to search for specific properties or run a very basic Quick Search.  You can also — if you need any of the more advanced MLS features — remote desktop connect to another computer that runs Internet Explorer, and log into the MLS that way.  It’s slow and clunky, but if you absolutely must do it, you can.  I use iTeleport to connect to either my home laptop or my work desktop and log into the MLS through it.

FORMS AND DOCUMENTS

More bad news … you can’t access Transaction Desk from your iPad, either.  You can access the feature-limited DocBox 2Go they have — so you can see the forms you’ve already created, but you can’t edit or create new ones. Unless (again) you do the Remote Connect thing — and it’s even slower and clunkier on TD than it is on the MLS.

So here’s what I do.  I use my desktop to create and edit the forms in Transaction Desk when I’m in the office, and then I’ve also created PDFs of my major file packets — contracts (with different packets for loan type and whether it’s an in-house or co-op transaction) and listings (pre- and post-1978).  Once I have the contract packets in PDF format, I use an app called GoodReader to create annotated copies of the blank form packets.  I put text fields with placeholder text in the different blanks, and I can just edit them as needed for each new transaction.  I can use the Draw — Freehand tool to sign it, and then email myself and my clients a copy of the filled-out and signed documents.  For the signing, I finally broke down and bough a higher-quality stylus, the BoxWave Capacitive iPad Stylus, and let me tell you.  Worth every penny.

Also, for what it’s worth, I use DropBox to store my files and keep them accessible from both the iPad, desktop, and home computer.  This way … it’s easier.

GRAPHIC DESIGN & WORD PROCESSING

I don’t do much graphic design these days; we have a kick-ass graphics department at my company so there’s little reason.  And since I’m most familiar with and quite like Macromedia Fireworks that I have on my other computer, I haven’t done very much with the iPad options.

As far as word processing, I’m a big fan of MS Word, so even though I’ve downloaded Pages and I’m sure it’s wonderful, I’m just not there yet.  I’ve used Information Architects (iA) Writer for some writing and journaling, but I’m finding the screen keypad too awkward to woo me away from my desk- and laptops permanently (and I’m too cheap (so far) to get an external keyboard yet).

So all told, while I like the idea of using my iPad as my primary work and play computer, I’m not there yet.  I’ll probably be a lot closer whenever Tempo & Transaction Desk become easily accessible on Safari, and when I get an external keyboard.  I’ll keep you posted.

Let’s look at the current Exclusive Right-to-Sell or Lease Listing Agreement put out by the Oklahoma City Metropolitan Association of Realtors (OKCMAR).  This will be the first of a series of posts about the forms that we use here, so folks who are considering selling or buying a home can take their time going through the paperwork at their own pace.  Also, feel free to ask questions in the comments; even though our forms are pretty straightforward, they can be confusing and they are certainly LONG.  I’ll give you links to the full form in both visual and audio versions, and then I’ll go through a vastly condensed, five-thousand-foot overview.

Disclaimer: this is current as of Wednesday, Feb. 2, 2011, when I pulled it off the MLS.  (Coincidentally, Wednesday was the day after our little historic blizzard, when I was literally and figuratively stuck at home with a sick toddler.  Fun times.)  These forms change periodically, though, so it’s not guaranteed for ever and ever.  Also, I’m not an attorney, and I’m not giving you legal advice.  But you knew that already.  Didn’t you?

So let’s dive in!  Here is a pdf of a blank listing form; you can also listen to the full agreement by clicking here.  (Yes, that’s me!  It makes a change from I Am a Bunny, Duck for President! and That’s Not My Plane.)

The agreement’s first page can be summed up in one sentence:  The Seller hires the Broker to help them sell or lease their place, hopefully for around this price, and by the end of this time period.

The big chunk of text in the middle lists what all’s expected to stay with the house when you move.  A good rule of thumb is this: if it would take a tool of some sort to separate it from the house or land (shovel, screwdriver, crowbar …) then it stays.  So if that’s great-great-gran’ma Magdelena’s chandelier and you wouldn’t part with it for the world, either replace it before you put the place on the market or say explicitly, in both the listing agreement and the contract when you get one, that that fixture is not included in the sale.

Next, we talk about how, exactly, the broker’s working for the seller, and for how much.  For a complete breakdown of the difference between Single-Party versus Transaction Brokers, see my article about that here.

The Listing Agreement then talks about the fee agents charge for their services, when they earn it, and when they receive it.  Brokers get paid when their listings sell.  If the seller breaks their promise to use the broker and sells their house without the broker’s involvement during the listing period, the broker still gets paid.  Some sellers (no, not you; don’t look at me like that) wait until their listing has expired to sell to a buyer who saw the place while it was listed, so they can get the benefit of the broker’s work and advertising resources without paying any commission.  Don’t do that; stealing is wrong.  Think how you’d feel if you found out you’d been working your *#%@ off for free for the past three months.

Also, transaction fees.  Some offices — mine included — charge a fee in addition to the commission.  In our case, that fee goes to pay the salaries of in-office transaction coordinators.  The transaction coordinators look over all our files and make sure that closing won’t be delayed because we (or the other agents) have made a mistake on our paperwork.

Disclosures.  You HAVE to spill everything you know about the house.  If you live or lived there, you have to fill out a Property Condition Disclosure Statement.  If you bought it as rental property, you can fill out a Property Condition Disclaimer Statement instead.  Whether you lived there or not, if it was built before 1978, you have to fill out a Lead-Based Paint disclosure.  And if you find anything out about new or previously unknown problems with the place while it’s listed, you have to disclose that, too.  This is important because if you have a deal that goes south after the prospective buyers have had the home inspected, you have to fill out a new form disclosing all the newly discovered issues before you put it back on the market.

KeyBoxes or Lock Boxes.  We use two different kinds.  The first are boxes that Oklahoma City Realtors can open with a key we get from OKCMAR.  These MLS-issued boxes log everyone who accesses it and when. They look like this:

KeyBox & SupraKey; a Realtor's best friends. Well, except for miracle-working lenders and title companies that keep us up to speed.

The other kind we use open with a combination.  That way, any Realtor who wants to show one of our listings has to call us directly for the combination, and we can get their name & information first.  Both kinds provide a regulated means for Real Estate professionals to access homes that are for sale.  But (don’t ask me who thought this, but apparently someone did) these boxes are not security systems — they will not make your home safer, and there are risks involved in giving people you don’t know access to your property.

If you are really freaked out by the idea, you can either have your broker be there at all showings (which is a pain, because it means that each showing has to be coordinated around, at minimum, FOUR schedules, but it is doable) or move first and sell the home when it’s vacant.

Section 12 on Page 4 is a list of everything the Seller is letting the Broker do.  This is my job description, my half of the deal.  The next two sections are your half of the deal.

You promise that the property really is yours to sell — and that it’s not the collateral on any loan except your home mortgage –  you aren’t cheating on another agent in order to work with me, and you haven’t given anyone else first dibs on buying the property.  You let me know if the house is in a Historic Preservation Area, if you have any HOA fees, or any unpaid Special Assessments.  And you promise that you’re not lying about any of it.  I don’t like being lied to any more than you do.

You also promise:

a) not to be a jerk to work with

b) not to cheat on me

c) to COMMUNICATE with me about things that affect our relationship.

Because we’re in this together, you know?

And it’s got the standard “We all live in an uncertain world, and I’m not responsible for evil people or acts of God.  Even though you hire me to help you sell this place, you are still the owner.  You are responsible for and affected by what happens here like no one else; it’s part of the burden of homeownership.”

You decide whether you want a home warranty, and you see that defaulting on your agreement is not something you want to do.

And if we get into a fight, you agree to go to mediation.  Like that new show on USA with whatsername, the lady who looks like a walking toothpaste commercial, but without the wardrobe budget.

The last page is the legalese:

- if we fight in court, the winner takes all and the loser pays the lawyers

- there are lots of other documents we’ll sign; all together they make up our agreement

- you can’t give away your part in this deal without my consent (and vice versa)

- unless you die

- if Mr. & Mrs. Seller split up while the house is on the market, they still both have to sign the contract and closing documents.  If it’s messy and they can’t see each other without jumping for the others’ jugular veins, we can have separate closing times, but both names are on the listing, so they both have to sign.

- and there is no set, standard commission rate.  That would be a violation of Anti-Trust Law.  We don’t want to do that, because then Zombie Teddy Roosevelt would come and eat our brains.  That would be bad.

BRAAAAIIIINS!!

- and finally, we Realtors aren’t lawyers, and don’t give legal advice.

The last page has where you sign & put your contact info.  And there you have it; our gripping read of a Listing Agreement.

If you have any questions about this form, please feel free to ask!

Brokers who are working for sellers (Listing Brokers) are working to get the highest price they can.   Brokers who are working for buyers (Selling Brokers — I know, it doesn’t make sense, does it? just go with it) are working to get the lowest price.  Stating the obvious:  ONE PERSON CAN’T DO TWO CONTRADICTORY THINGS.

So the State of Oklahoma decided that there should be two ways to work with clients:  working for the benefit of only one party, and working solely to get the transaction completed.  Single Party Brokers work (surprise!) for a single party, and Transaction Brokers work to close the deal and don’t advise or advocate for any party.

To see the Single-Party Broker Disclosure (Revised 11-2009), click here.

To see the Transaction Broker Disclosure (also 11-2009), click here.

SuperRealtor, a Single-Party Broker, says: HERE I come to save the DAY*! *your day only. No one else's day will I save. Offer valid only in participating locations.

Here’s what normally happens:  Mr. & Mrs. Seller list with me; I work for them as a Single-Party Broker by advising and advocating for them, helping them price, prepare, and present their home for the market in the best possible way.  We put it on the market and another agent sells it.  I remain a Single-Party Broker throughout the process, advising them as we negotiate the offer and move from having a signed contract to closing the deal.

If, however, I sell Mr. & Mrs. Seller’s place during an open house or from a sign call to a client who isn’t already working with a Realtor, I will (if it’s okay with everyone, which it usually is) change my  status to a Transaction Broker because I cannot get Mr. & Mrs. Seller the highest price for their home and Ms. Buyer the lowest price simultaneously.  So what I’m working for is getting the deal done, rather than the specific benefit of a single party.  This is usually A-OK with the buyer and the seller because, hey, the whole reason they called me in the first place was to sell/buy a place.  Make sense?

Basically, the government wants shoddy neighborhoods to be a little less shoddy.  So they have decided that what those neighborhoods need are more police officers, firefighters, teachers, and EMTs living in them.  Said neighborhoods have kids who may be in – or think they want to be in – gangs, and (typical bureaucracy logic) these folks must know how to handle that kind of thing, right?  So the government has also figured out that no up-and-coming public servant is going to move their families to a sketchy neighborhood unless they have to have a really good reason to do so.  Ergo, 50% equity in the property after three years.  So they move in, stay 3 years, and BAM – half their loan is forgiven.

Here’s the gist:

THE PROPERTY

• has to be in a government-approved ‘hood, er, Revitalization Area.
• has to be for sale through the Department of Housing & Urban Development (HUD homes are homes where the former owners had FHA or VA financing and stopped making their payments – they’re like foreclosures but owned by the government, not by a bank).  All HUD’s available inventory is listed on their website, HUDHomeStore.com.  You can search specifically for GNND homes on HUDHomeStore.

THE BUYER

• can’t be, or be married to, anyone who has done this deal before.  Ever.
• has to live in the property for at least 36 months before they get the discount.
• can’t have owned any property for the last 12 months.
• has to be able to qualify for the full amount.

THE OFFER

• has to be for the full asking price.
• can’t ask HUD to pay closing costs or Real Estate commissions.  If you can’t pay them yourself you’ll need to add that to the sales price and finance it.
• If you roll closing costs into the loan, remember that HUD will not forgive half of the RE commissions or closing costs (duh) so you’ll still have to pay them off
• Also, your bank won’t lend any more than the property is worth, so make sure that your property will appraise for the higher price before you get too far down the road.
• And don’t forget, you have to qualify for the full amount of the loan you get.  The more you add to the price, the more you have to qualify for.

THE FINANCING

• can be cash or any other type of (legal) financing
• IF you get an FHA loan, though, you have to be able to qualify for the entire contract price

And that’s that.  And even if you don’t qualify for the GNND program, don’t rule out HUD homes as an option, whether you’re looking for a new place for yourself or for investment property.  If you are interested in buying one or would like more info about the process, give us a call.

I’ve been playing with the idea of doing tour videos for our listings.  I started with my favorite of our new listings.  I worked a bit on it, trying out a couple of different things, lamenting my old borrowed GL-1 where I knew how to adjust the focus and iris and whatnot.  I got the video ready-ish, and started looking into how, exactly, to get it to the interwebs, and … the house sold.  In thirteen days.  In this economy.  Pardon me while I pat myself (and the rest of my awesome team) on the back about this; it’s seriously good news.

But I thought I’d share the video anyway and ask you guys for some feedback about it.  Do you think walk-through videos are a good idea?  Do you think they would make prospective buyers more (or less?) likely to want to see the home in person?

And second, I love decor.  My favorite part of going into empty listings is envisioning different ways the new owners could make the space look amazing.  I thought I’d share two different ideas I had for the Lincolnshire house.

Before branching into the two distinct styles, however, there are a few cosmetic updates I would make to the house itself (surprising, I know!).

• Walls: luminous white plaster, inspired by Brooke Gianettis’ gorgeous home that she flaunts in her blog Velvet and Linen.
• Paneling: greywashed — a semi-sheer paint or glaze that leaves the grain visible.  (Above the paneling I would have the walls plaster like the rest of the house, and leave the beams in the ceiling as they are.  I love beamed ceilings.  They make me want to learn Old English and swagger around with a broadsword.  You probably didn’t want to know that.)
• Floors: reclaimed hardwood laid in a chevron pattern
• Hardware: streamlined wrought iron.  The slightly unfinished or irregular shapes would be nice and informal, and the wrought iron material would pick up on the ironwork already in the home.
• Additional lighting: pared-down iron sconces.  Lots of sconces.  The home doesn’t have hugely high ceilings, and it feels dark in some areas, so sconces it is.
• Interior doors: muted teal louvered panel doors, inspired by pictures of teal-shuttered homes in Italy, for color & fun

source: ScottShephard.com; not this bright, though

So with those changes done, there are a couple of different ways that I could go with the decor.  First, I could stick to a classic, more traditional style and create a welcoming home with a collected feel and unpretentious sophistication.  Or alternately I could push the style in a more contemporary direction, and shoot for a sleek but still broken-in modern villa vibe.  Classic Comfort vs. Modern Mediterranean.  I’ll show you what it looks like now, then go through my Classic ideas, and conclude with the Modern take on the same spaces.

*Classic Comfort Option

Secret Garden, Before

I told you that my favorite part was the entry courtyard, and that’s where I’d start.  Assuming I could figure out how to keep from killing every plant in a hundred-foot radius.

• Style: English, Informal, winding path & free-form plants
• Seating: vintage bistro table & chairs
• Fountain: neoclassical wall fountain
• Color scheme: multiple shades & textures of greenery; white flowers, esp. Lily of the Valley and a huge, cascading white clematis spilling over the wall
• Evergreen color: aged-looking wooden planter boxes w/ boxwood

Moving on to the Formal Living Room:

Formal Living, Before

I love an arrangement of four armchairs around a central table or ottoman.  It’s great for visiting, playing games, reading, or almost anything except watching TV.  Since there are two living areas, I would have this be the TV-free-zone.

• Seating: four leather French club-style chairs around a dark grey-blue velvet tufted ottoman
• Storage & Display: install cabinetry (dark wood? bright white?  greywashed wood?) on the wall opposite windows w/ closed lower cabinets and open, illuminated mirror-backed shelves above; possibly desk area in center
• Lighting: chandelier above the ottoman; sconces flanking another mirror in the center of the built-in cabinets; sconces on either side of window w/ trellis detail picking up pillow fabric pattern
• Curtains: subtle 18^th-century-inspired print floor-to-ceiling panels from Pottery Barn

Cabinet Possibility

Going to the Formal Dining Room:

Formal Dining, Before

• Curtains: more floor-to-ceiling panels in a solid linen that coordinates with — but doesn’t just “match” — the curtains in the adjoining living room.
• Lighting: big, beautiful chandelier
• Well-worn farm table
• Seating: I’d pair antique Louis XV-style armchairs at the ends of the table with new Louis XVI-style balloon-back chairs, both upholstered in a soft buttery yellow wide-striped silk.

Another option for these two spaces would be to take out the middle arch and have one long, dramatic dining room with a HUGE dining table running lengthwise, maybe with two chandeliers suspended above them and display cabinetry along the interior wall.

Okay, kitchen!

Kitchen, Before

I love kitchens.  I even like this kitchen as it is.  But that’s no fun; bring on the demolition!

• Ceiling: raise the lowered ceiling and install can lights
• Floors: reclaimed terra cotta tile from Spain
• Structural changes: replace island w/ long, natural-finished, turned-leg wood combination worktable and breakfast table that runs crosswise through the room.
• Hutch: leave, but repaint it in something fun like brick red or maybe oyster grey and add a brown or charcoal glaze to highlight the vintage character of the door cut-outs.  Or maybe remove the central panels of the cabinet doors and replace them with chicken wire and turn them into lighted display shelves.  So many possibilities.
• Cabinets: leave the bottom cabinets but paint them white & replace the doors w/ white shaker-style doors.  Replace the upper cabinets with open shelving in natural-finished wood to coordinate with the worktable.
• Seating: slightly industrial-feeling barstools that are height adjustable.
• Island Lighting: on workspace side, metal-shade pendants for practicality and a bit of edge; over breakfast side, two huge street-lantern style pendants for a focal point
• Counters: Classic white quartz or Caesarstone on the counters running around the walls; top the island with warm gold & cream granite
• Backsplash: white subway tile laid in a brick pattern
• Appliances: stainless
• Hardware & faucets: bronze & wrought iron

And finally, the Family Room:

Family Room, Before

• Seating: updated shelter-back sofa upholstered in sand-colored linen & two tufted wing-back chairs upholstered in two fabrics – a creamy fuzzy flannel w/ grey pinstripes on the back, arms, and sides, and charcoal velvet or mohair on the seat, back, & inside of the wings.  Also a burlap-upholstered antique English accent chair.
• Traditional-style coffee table
• Antique-look wall map above the fireplace conceals the flat-screen TV
• Neutral-background Chinoiserie print linen curtain panels to bring some pattern
• Neutral-toned Persian-style rug
• Room is big enough for two seating areas; I’d live with it for a while and decide if I wanted to do that

*Modern Mediterranean option

For the modern scheme, starting in the garden entryway:

• Style: Updated French/Formal; this would be a fantastic place for a modern knot garden
• Seating: simple Asian-inspired bench
• Fountain: worn simple rustic-style wall fountain – notice that both fountains have arched tops, to echo the home’s existing arches
• Color scheme: same as CC
• Evergreen color: clean-lined clipped boxwood hedges

Throughout the modern-style home, I’d want mostly clean-lined, modern pieces set off by one or two older, perhaps vintage or antique elements in every room to keep it from feeling like I bought it all from a catalog.

Formal Living Room:

• Seating: simple, pale, squared-off sofa and two sleek charcoal velvet Art Deco-inspired chairs
• Antique element: very well-worn coffee table bench
• I’d pair modern lighting with pillows made from antique rugs; a sleek, and shiny bar cart set off by a chaotic Jackson Pollock print and a fuzzy, nubby neutral rug.
• Curtains: floor-to-ceiling natural linen curtain panels, probably with a grommet top, hung from a simple medium-thin wrought-iron pole.

Formal Dining Room:

• Curtains: same as living room
• Table: industrial modern dining table with natural steel legs & a worn, natural-finish wood top
• Seating: clean-lined modern slipcovered armchairs — all armchairs.  Comfort is king.
• Lighting: industrial modern exposed-bulb chandelier
• Focal point: dramatic, original art

Kitchen:

• Flooring: same as in CC option
• Keep the current layout for the most part; remove the hutch & build a large, built-in banquette for the breakfast area, upholstered in a warm cinnamon velvet that sets off the floor color.
• Re-work the island to look more modern, but keep the size & shape roughly the same.
• Raise the ceiling, replace the upper cabinets with open shelving
• Lighting: Industrial pendants above island and sink; rectangular modern capiz-shell chandelier above the breakfast table; additional can lights in ceiling
• Cabinets: replace the doors on the lower cabinets with espresso-stained slab-style doors; replace upper cabinets with white lacquered floating shelves
• Backsplash: white, pale grey, & off-white recycled glass mosaic tile, extended up to the ceiling behind the floating shelves
• Hardware: organically-shaped natural steel
• Faucet: polished nickel
• Countertops: cararra marble.  I know.  I love it anyway.

Family Room:

• Huge tweed midcentury-modern curved sectional
• Swanky coffee table with storage drawers
• Antique Chinese secretary desk
• 1930’s-style armchair
• Large-scale grey & white damask floor-to-ceiling curtain panels
• Fun, funky modern lighting

And there you have it.  Hope you all are having fun and staying warm!

But what are some other options when you’re wanting to look at homes online?  I’ve been going through and making sure that our listings look all right on the major home search sites, and thought I’d pass along my thoughts on the most popular.

I know, I know, I should be telling you HIRE A REALTOR THE SECOND YOU DECIDE YOU MIGHT WANT TO BUY A HOUSE, but realistically, sometimes you just want to look at what’s out there, do a little playing around with the IDEA of moving, before talking to people about how they can help.  (And sometimes you just want to be nosy; you’re not going to move anytime soon, maybe ever, but it’s sure fun to peek inside other people’s places.  That’s okay too.)

There are sites that let you search after you register with them (usually free); I always find it a pain.  Also, they’ll probably hassle you at some point since your info goes into their prospect database.  The sites I talk about below are all sites were you don’t have to give them any info.

These sites all get listings from the MLS through a feed from ListHub, a service that we get through our membership with the Oklahoma City Metropolitan Association of REALTORS (OKCMAR).  So the Realtor-listed inventory they return will be pretty standard.  For Sale By Owners can advertise on some of them, and many do, but not all FSBOs advertise on all sites.

Did you know that you can search for homes for sale on Google Maps?  I didn’t.  Either go to  http://maps.google.com/realestate or to the regular Google Maps and click “show search options” then select Real estate from the drop-down menu.  It’s pretty nifty.  I don’t know how they choose which listing pictures to feature, but I don’t really like their choices and I’m getting the run-around on trying to get them changed on our listings.

Zillow is probably the most popular.  It’s got lots — and lots — of bells & whistles, it’s got interesting home value maps and public forums and all sorts of fun.  The listing photo gallery is easy to navigate.  Their valuation tools tend to lack finesse; if it’s a cookie-cutter addition and a cookie-cutter house, you’re probably okay, but if it’s more customized, be wary.  I like Zillow because I can edit my listings without having to pay them money.  This is a VERY important consideration, since we advertise on 40 different sites.

Trulia is pretty good.  Clean design, easy to navigate (though you can’t search by address, which you can on some of them).  Keep in mind that the agent picture you see beside someone’s listing is probably not the listing agent, but rather an agent who advertises on the site.  It’s nice that you can search recent sales.

I have a soft spot for Yahoo, but I don’t think it’s the best search site out there.  I have a Yahoo email address I’ve used since high school, and … that’s it, really.  That’s why I like Yahoo.  Both Yahoo and Zillow have overall market charts and stats on their front page, and both (annoyingly to me, since I have listings in different cities) remember where you’re searching and shunt you there automatically.  We Realtors can’t update our listings w/o being paying members, so … pfftht.

Homes.com is all right, but not my favorite by a long shot.  We have to pay to get our picture on our listings (I know, we’re so vain.  Well, yeah, we are.  But our face is our brand, so it’s pretty important, really).   Or to edit anything about our listings.  Their Q&A section is difficult to navigate (where is the “search questions & answers” button?!) and I don’t think (though I gave up after a very short search) that For Sale By Owners (FSBOs) advertise there.

HotPads.com is my favorite.  You search by map, then narrow down by feature if you want, which makes SO MUCH MORE sense to me.  Really, this is an awesome site.  You can search For Sale and For Rent and Foreclosures (looking at the Foreclosures map makes me sad, though, but that’s another post).  You can look at vacation rentals (yeah … not a lot of those in OKC … yet) or hotels.  Man.

There are lots of others; these are just the most popular.  We advertise on all these:

The Sold Team Professionals

The market seems to be picking up a little speed; our listings are showing more than ever, and we’re starting to get more offers in (always a good thing). I had a couple of deals not pan out in the last week, though, so that’s disappointing. But hey, that’s life, right?

Anyway, just wanted to let you know what’s been going on.

I’m excited about the switch; I’ll have an office (not exactly of my own — there’ll be two other people in there, but still, it won’t be a cubicle, so points for that) I’ve seen the design board for the eventual look, and can’t wait to see how it turns out.  Fun stuff. I’ll also get to work with the team leader who was at my old office when I was there before, whom I’ve missed dearly.

We also just moved into our new personal home, so we have (much) more room than we did, and even have a yard.  Of course, I’m working with my son on how we don’t really want to eat the dirt, but I figure the ‘don’t jump/wallow in the mud puddle’ thing is a losing battle … Ah, kids.

This has been a pretty hard month for me.  My grandfather passed away a few weeks ago, and then last week a friend of mine with whom I’ve volunteered since college passed away suddenly at age twenty-six.  It’s been rough.  Life, right?  Complex, messy, and all too brief.

Anyway, just giving everyone an update on why I’ve been AWOL for a while.  More posts coming soon.  No, really.

Real Estate is a competitive field, no question.  There we are, Us and Them, Sellers and Buyers (or vice versa), Clients and Realtors, Selling Agents and Listing Agents, Price and Concessions, on and on.  But … this is a sport, not a war.  And the way we play the game matters.

So how do you play to win?

First, of course, you define ‘win’.  Don’t laugh; I mean it.  Because of course everyone who wants to buy a home wants to buy it “at a great price” — i.e., for less than it’s worth.  And everyone who sells a home wants to sell it for as much as they can.  No one wants to leave money on the table.  I don’t, either; I’m not speaking from some kind of austere cloister of high-minded asceticism.  I want to make money, too (well … I want to spend money, and since I’d rather not go to jail, I’ll make it legally first).

However, money — and a Good Deal — is a means to an end.  Most buyers’ needs are really more like: a) timeframe; b) monthly payment, & c) house specs — location/bedrooms/closet size/etc.  Most sellers’ needs are: a)  timeframe, & b) net profit.  These needs have nothing to do with the other party or even with the agent or market; it’s all you, baby.  If your desires for this real estate transaction are all about ripping someone off, it may be time to re-evaluate your position.  Or put another way, it’s only when the seller’s and buyer’s needs are BOTH met that you have a successful deal. Do you actually know what you want?  And is what you want realistic?   Because even though the check you bring to or get at closing is important, the moving-on-with-your-life and being-happy-where-you-land-next is so much more so.  What good will it do you to get a great deal on a house in which you’ll be miserable?  Or what do you gain by duping a buyer into offering more for your home than it will appraise for?  When the contract goes bust two weeks from closing and everybody’s ticked off and you’ve made another three or four mortgage payments while you re-negotiate, or even put it back on the market … it’s messy.  And unnecessary.

So here’s Another Way.  Here are my Six Keys to Contract Negotiation:

I.  There’s no reason to be rude.  Keep your rage for the evening commute.  Every player in this — buyer, seller, agent, lender, etc. — is a person and deserves to be treated courteously.  Even when you’re telling them no.

II.  Buyers:  Sellers have needs, too.  Your move is the first move; you draft an offer and they respond.  Their response should let you know more about what they need.  Remember: if you can meet their needs, you can get your house.  If you can slay (or befriend) the dragon, you can win the treasure.

III.  Sellers:  An offer — even an insultingly low offer — is the beginning of a conversation with someone who wants to buy your house.  You don’t have to accept their offer, but it’s wise to at least continue the conversation.  “Oh, I couldn’t possibly accept anything lower than …”

IV.  Distance thyself — it’s not brain surgery or a deepwater oil spill, and nobody’s going to die here.  This house is not an extension of yourself; it is not an embodiment of your past or a vision of your future, and the numbers flying fast and furious are not judgments on your worth.

V.  Think possibilities, and keep an open mind.  Each offer or counter is a possibility, not a prescription.  “Oh, that won’t work for you?  Let’s try this.”  It’s like shopping, but without the florescent lights and three-way mirrors (thank God).  It sometimes takes a while to find the right fit.

VI.  When you have an offer, that’s awesome!  And not at all the end.  Stuff comes up in the contract to close process, and contracts can be — sometimes must be — re-negotiated.  THIS is when the focus on crafting a win-win deal really pays off:  all parties are still philosophically invested in the deal and willing to take on the challenges and work toward solutions, rather than bitterly relishing the deal’s failure.

Well, January sales numbers were down*; 706 homes closed, compared to 1061 in December & 741 in the previous January.  In February, things picked up with 971 closings, compared to 997 in the previous year, and March saw a lovely 1435 sales, compared to 1259 the previous year.  The other side of the picture — the # of houses sitting on the market that did NOT sell — was fairly positive, too; by the end of January there were 7619 active listings, compared to 8649 the previous year.  The trend continued (with moderation) in March, with 8454 active listings at month’s end, compared with 8659 active listings at the end of March ’09.  April saw the gap close, with 8411 listings remaining at the end of the month, versus 8422 in April ’09.

Home values in January: average price, $138,937; median price, $119,900, which is down from Dec’s $147,246 average & $127,000 median.  January of ’09 saw an average price of $146,837 & median of 125,000.  February picked up with an average price of $149,025 & a median of $129,900; Feb ’09′s average price was $139,073 & median was $123,500.  March’s average price dropped just a tad to $143,164, & median to $126,500, compared with the previous March’s $141,072 & $125,000, respectively.

Or let’s look at the sales prices a different way, and see how they’ve held up in a cyclical fashion comparing them with the previous market performance at that time of year:

Another way to look at home prices is to examine the total amount of money that was spent on houses during the month, or Gross Closed Volume.  GCV (I don’t actually know if that’s a real acronym that people really use, but it’s easier than typing Gross Closed Volume, so …) for January was $98,089,259, compared with December’s $152,228,122 & the previous January’s $108,659,675.  February was up at $144,702,914 compared with the previous year’s $139,073,408; March saw $205,439,932 compared with the previous year’s $177,609,376.

And finally, average Days on Market for Jan: 83, Feb: 85; Mar: 84, versus last year’s 95, 94, & 93.

So overall, the OKC Metro Area is doing pretty darn well, all things considered.  Next Quarterly Installment: Where Did That Tax Credit Go?

*This is based on information from the MLSOK for the period 01/01/2008 through 03/31/2010.  While information is deemed reliable, it is not guaranteed.  Also, I hand-entered the numbers into the Excel sheet that I made the charts from, so I could have made mistakes.  But you’re a smart person, and you know not to assume that everything on the internet was inspired by divine authority and reviewed by jealously scrupulous academic panels.  Right?