Jeff Secrest - helping "nice people" buy and sell real estate

Thanks for coming to visit my blog site. It’s a place for you to gain a little insight into my passion for this business.

You might ask, what sets me apart..?

For starters – I work days, nights, weekends, and even holidays. My mobile number is (434) 262-6197, feel free to call it — whenever.

What else..? Well, there’s my background in photo-journalism. If you’re searching the MLS for a home and find a listing with only one photo, it won’t be one of mine. I seldom take less than 50 photos, and I pick the very best. Check out this YouTube video of one of my listings:

…and what about technology? You’ll see it in nearly everything that I do in my business — from my MacBook Pro to my Blackberry “Smart Phone”. I’m a heavy user of e-mail, and active with social media/networking. I use Google Wave and Skype. I absolutely embrace, and encourage the use of the internet — it speeds up the process, while also providing a written record of what’s being said.

New constructon in New London

Knowing when and where to post your property for the best results requires skill. I put this listing on only one website and had it “under contract” before the sun set that day (wish I had a few more just like it).

I believe that you should have unrestricted access to our multiple listings. If you click on the link to the right which says “Search The Lynchburg MLS” you’ll be on your way…

Where will we be 5 years from now..? This was one of the questions posed at RE Barcamp – Lynchburg (a gathering of some of the most forward thinking REALTORS/Brokers from all across the nation).

Topics discussed ranged from the size of the firm to the role that technology would play. At the end of a lengthy debate the one thing that everyone seemed to agree on was that REALTORS must move rapidly to embrace the technological tools of our trade.

The days of driving across town to get a signature, or sending a contract via Federal Express to an out-of-town buyer or seller – will diminish as we move toward the acceptance of electronic signatures.

“Smart phones” are now enabling instant communication, not just by voice, but by texting (with the inclusion of photos).

Social media/social marketing is completely changing the landscape of our industry. We communicate with our customers/clients, and with each other, at the speed of light. Tools such as Facebook, Flickr, Linkedin, and yes, even Twitter are revolutionizing the way that we do business.

Signs may begin taking on a whole new look. Who wants to see the REALTORS “ugly mug” on every sign. We were introduced to a new way of thinking about signs (and they’re actually environmentally-friendly, as they can be re-cycled). Each sign can feature photos of the property, and should have the property address as a URL (internet address) so that those with “smart phones” can easily retrieve more details of the property (while sitting by the curb, outside the home).

It’s not so much about “bricks and mortar”, and who has the nice office space. The agent of the future will be armed with a laptop, an excellent camera, and a “smart phone” – they’ll be highly mobile – and (if the government doesn’t get in their way) they’ll be able to make your buying and/or selling experience much better and faster than ever before.

Don't Make This Mistake

Here’s a few tips which will hopefully keep you from selecting someone who is nothing more than a “monkey with a key”.

Good questions often reveal interesting (and sometimes potentially embarrassing) answers.

You might start out with a clever one — ask if they have a C.L.U.E. This pertains to the gigantic database that the insurance industry has. It is known as the Comprehensive Loss Underwriting Exchange (C.L.U.E.). Every real estate professional should be familiar with it (sadly some have never heard of it).

Before writing a new policy, insurance agencies check this database by pulling a C.L.U.E. Report. There are two components to this report — one is the home which is being purchased — the other is the buyer(s). The history of losses, claims, and inquiries will help determine what you’ll have to pay for coverage.

If you do happen to stumble upon an agent who is “C.L.U.E.-less” (someone with a blank stare, or someone who looks at you like you’re speaking in a foreign language), their lack of knowledge could cost you real money.

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Inquire as to how “tech-savvy” they are. You may want to know if they use e-mail (it may surprise you to know that many do not), and you should want to know how quickly they’ll respond to your e-mails.

Are They "Tech Savvy"..?

If you’re considering listing your property FOR SALE, find out how many websites it will be on. Listen carefully to their answer — then tell them to “humor you” by naming a few. This has the potential to be very embarrassing — ever heard of the word tongue-tied?

Not all buyers are from our local area. Will your property be getting exposure in markets such as Charlottesville, or the Washington, D. C. area?

While you’re on this subject ask ‘em how many photos they’ll be taking (and posting) of your home, and see for yourself the quality of their work.

Advertised on www.craigslist.com

Oh, and one more thing — go ahead and ask them if they’ve ever posted a listing on craigslist.com. It’s totally free and sometimes produces some pretty amazing results.

The home on the left went “under contract” on the very day that it made it onto craigslist. One phone call and it was a done deal.

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Article 1 of the REALTOR® Code of Ethics reads as follows:  ”When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly.”

A real estate broker who becomes an agent of a SELLER or BUYER is deemed to be a “FIDUCIARY”. As a FIDUCIARY, a real estate broker is held by law to owe specific duties to his/her principal (the person who they are representing). These specific FIDUCIARY duties include:

• Loyalty
• Obedience
• Disclosure
• Confidentiality
• Reasonable Care and Diligence
• Accounting

Now that you know what Article 1 says — you can have some fun..!

Go ahead and quiz ‘em. This is all about the obligations that they owe to you.

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Let’s recap.

• Are they “C.L.U.E.-less”..?
• Are they “tech savvy”..?
• Do they know what it means to be a “FIDUCIARY”..?

If they don’t know their business…

...you might as well be hiring that "monkey with a key".

A Realtor (not just any Realtor) may save you thousands of dollars.

It’s your hard-earned money that’s on the line. This is precisely why you don’t want to pick your friend, neighbor, or relative just because you may not know how to say NO..!

This is no time to cross your fingers and hope for the best.

Don't Take Chances.

Asking some tough questions now will help keep more of your money in your pocket. You deserve to know how a Realtor earns his/her money.

There needs to be transparency in the real estate business.

• You need to know if the Realtor who you’re considering has any affiliated business arrangements (ABA’s). — The U.S. Department of Housing and Urban Development issued mortgage reforms designed to help consumers avoid costly and potentially harmful loan offers. The Real Estate Settlement Procedures Act (RESPA) requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. — Affiliated business arrangements allow affiliated businesses (i.e. title companies, insurance companies, lenders, movers, etc.) to pay a fee to your Realtor’s firm. — DISCLOSURE OF SUCH PAYMENTS IS REQUIRED — REFER TO LINE #28 (VAR Form #600) OF THE CONTRACT AND ASK ANY PROSPECTIVE REALTOR IF THEY WILL BE NEEDING TO ENTER ANY DISCLOSURES ON THAT LINE.

Just Say No..!

• Some firms are beginning to charge administrative fees. Watch out, these may be “junk fees” and could add hundreds of dollars to the cost of your transaction.
• There are cases where a property will be advertised with a bonus to the Selling Firm (often tied to receiving a strong, or full-priced, offer). Be especially careful here. This may come as a surprise to you, but often times the M-O-N-E-Y will cause a Realtor to forget just who they are representing. Buyer’s agents have a fiduciary responsibility to their clients. Bonus offers should never influence our decision to show a home, unless we plan to pass that bonus along to our client.
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  It's Your Money

• You’ll want to know if they practice “Dual Agency”. In many states this is illegal. This is when one agent works both sides of a transaction (they try to represent both the Buyer and the Seller). The lead attorney for the Virginia Association of Realtors has advised against this practice. It is still legal in Virginia, but you should ask yourself — who is really looking out for me..?