Working with different cultures

Have you found it difficult to work with people from other cultures?       Well apparently you are not alone.

I was fortunate enough to attend the South King County Chapter of the Women’s Council of Realtors which had invited Jason Watabe, John L Scott Mercer Island; Elizabeth Davidson, Coldwell Banker Danforth Seattle and Jess Salazar, Benchmark Realty, Federal Way to speak about international buyers and sellers

The key to greater success seems to be communication. 

Communication is a two way street which requirews both speaking and listening.   So when working with those of a culture different than yours it is even more important to be a good counsellor and spend the amjority of our time discovering the wants and needs of our clients.

The speakers all stressed the importance of using email to ensure that you and your client are on the same page.

Another thing to remember is that most cultures around the world live to bargain and will be put off by an agent who tells them they can’t make what might appear to be an unreasonable request.

Good agents listen to their clients, advise them of options and follow the instructions of their clients.  Be a good agent.

Short sale pricing fact or fiction?

Feds and State authorities are questioning the practices of some real estate agents.  Just what is a short sale?  Is it a bargain basement sale or is it just a home that has more owed on it than the market will bear because of refinacing or, as in many cases, was it purchased at the peak of the market which wa primarily 2005-2006 in Washington State?

A short sale is not a bargain basement special although it often treated as such. 

Both the state of Washington and Federal entities are expressing the displeasure with the many scams and inapropriate actions by real estate agenst and others.   Often when taking a listing agents will immediately build in automatic price reductions.  The Washington State Dept of Licensing, Real Estate Division has expressed that they do not feel that an agent following this practice is meeting their fiduciary responsibilities, nor do  I. 

“Every price reduction should be accompanied by an accurate Market Analysis.”

Another area of concern is fraud, that is the practice of under pricing, selling it to a co-conspiritor and reselling immediately at a higher price to another buyer.  Both of these situations can be avoided by the seller insisting on a copy of the market analysis at the time of listing and when ever a price reduction is asked for.

If you are an agent do your due diligence.  Don’t under price the home  –  you’re not doing anyone a favor by such behaviour.  If you are a seller be sure and make your agent justify the suggested price.

facing foreclosure?

Why are so many home owners facing foreclosure not taking advantage of the Foreclosure Fairness Act?

As a real estate consultant many times we are face with clients who are facing foreclosure and have no ideeas where go?  There is an answer.  Our legislators pass the Foreclosure Fairness Act which called for mediation between the home ower and the lender.  After July 22, 2011 lenders were required to contact destress home and set up mediation with a third party.  However homeowners prior to July 22 must initiate the call.

You will find find more information of the Washington Homeownership Information page.  It is worth your time if you have a client who is a distressed home owner to look at this page.