Real Estate Listing Contracts

Posted: under Real Estate.
Tags: , , , , , ,

This past week, I had 2 clients asking me questions about the differences between listing contracts. So as usual, I try to explain in a post here, on my blog and refer them the link.

There are 3 different Real Estate listings contracts:

Exclusive Right to Sell Listing

This is by far the most common kind of listing between sellers and brokers.
Under a exclusive right to sell listing contract, the broker is the only one authorized to sell your house.  If another agent finds a buyer, your broker earns a commission. When you find a buyer on your own, your broker still earns a commission. This arrangement gives your broker the most incentive to spend time, funds and energy advertising your residence, particularly to the other agents inside the region who can show your home to their buyer clients. Only with an exclusive right to sell agreement can you expect to get a full service marketing effort from your broker, since it is the only listing contract that assures a broker will get paid for his advertising expense and efforts when the property sells.

Exclusive Agency Listing

This is comparable to the right to sell listing, with the substantial distinction that you simply reserve the right to sell your residence your self and not pay the broker a commission. The broker only gets paid if your house is sold through a licensed real estate professional. If you uncover your own buyer and sell the home your self, you pay no commission. On the face of it, this may sound like an attractive arrangement. Nonetheless, it’s not a well-liked listing kind with brokers for a very great reason. Under an exclusive agency agreement, the broker is exposed to the risk of putting forth considerable effort and expense advertising your residence, only to come away empty handed. The attraction to the seller for this type of contract is the possibility of discovering their own buyer and not paying a commission. This puts the seller and broker in competitive roles, which commonly is not inside the ideal interest of either party. Since the broker stands a great chance of not reaping any reward, it’s unlikely that any effort or expense might be put into advertising an exclusive agency listing.

One Time Showing Agreement

This is an agreement whereby a For Sale By Owner agrees to let an agent show the property to an interested Buyer and then pays a commission to the Broker if the showing outcomes in a sale. The purpose of this agreement is to stop the seller from dealing directly with a Buyer that a broker introduced to the property so that you can keep away from paying any commission. Again this type of agreement offers pretty small incentive to a broker to bring buyers to your property.

Incoming search terms:

Post to Twitter

Comments (0) Nov 30 2010

QR codes for Real Estate

Posted: under Realtor® Tools.
Tags: , , , ,

You may not know but since ever, I’ve always been  fast to check new marketing ideas as they come out. And since I own codytech.com, it’s always been a way to put those ideas online. That was the case when I heard about the QR codes about 2 years ago.

I read an article online about it and I know they are used for literally everything there. You walk in the street, pass by a restaurant and you can see a QR code on the wall, beside the door. You take a picture with you cellphone and you get the menu and pricing on your screen. It’s that simple.

Of course, sky’s the limit. You can find those code on T-shirt, coffee mugs, and any sales materials available, including  Real Estate flyers or business cards.

Let me give you some tips to use them in your Real Estate career.

1) First get that application for your smart phone. They are almost all free to download and free to use. They are all available to use on any smart phone. You’ll be able to find a dozen of them just by Googleling QR codes app :-)

Then, create your own QR code for whatever you need, whatever it is a phone number, an email or a site. Personally, I use qrcode.kaywa.com to make them and print them, or copy the image from it.

2) Secondly, just insert them in every piece of marketing you want to have. Have your site URL QR code on your flyers and business cards. Print the URL of a particular listing you have and show it on your yard sign. That will allow potential buyer who pass by to have the pictures of the inside and your information on the spot!

3) And third, I have experienced a lot of interest about those QR codes from potential clients. They ask questions and when they get the full picture of it, it become a huge listing tool. They see you as an “tech savvy and advanced” Real Estate agent. You will get the attention of  higher end sellers, people who are more into new technologies. Those usually owns higher priced properties.

Incoming search terms:

Post to Twitter

Comments (3) Nov 26 2010

Agent immobilier a Cape Coral | maisons et propriétés à vendre à Cape Coral en Floride

Posted: under Real Estate.
Tags: , , , ,

Un grand bonjour à tous les francophones,

J’ai pense qu’il est temps de poster un petit mot pour les francophones. J’ai effectivement de plus en plus de contacts, coups de fil et courriels de francophones qui cherchent à acheter des biens immobiliers à Cape Coral en Floride. Et la plupart sont de France.

Donc, meme si vous parlez anglais couramment, une transaction immobiliere aux Etats-Unis est suffisament compliquée pour s’armer d’un agent immobilier sur place qui parle français. L’achat d’une maison ou d’un appartement à Cape Coral en Floride, que ce soit pour les vacances ou meme comme investissement, require certaines étapes qu’il est necessaire de maitriser.

Avec 19 ans d’experience dans le milieu immobilier et plus de 10 ans d’experience en tant qu’agent immobilier aux Etats-Unis, j’ai conclu un grand nombre de transactions avec des vendeurs et acheteurs venant d’Europe et d’Amérique latine (je parle couramment l’espagnol également). Je suis moi-meme d’origine Belge et parfaitement francophone :-)

Le fait de pouvoir parler français m’a aussi apporté une quantité d’acheteur provenant du Canada, en particulier du Quebec. Je les aide durant toute la transaction d’achat, et bien souvent au-dela.

Donc, n’hésitez pas à me contacter si vous désirez vendre ou acheter une maison ou n’importe quel bien immobilier  à Cape Coral, Fort Myers, Lehigh Acres, Sanibel et les alentours. Vous verrez que l’aide d’un agent immobilier francophone Floridien est un atout non-négligeable tout au long de votre transaction.

A tres bientot j’espere!

Incoming search terms:

Post to Twitter

Comments (6) Nov 21 2010

Foreclosures in Cape Coral, Florida : Get ready before to buy !

Posted: under Real Estate.
Tags: , , , ,

Today I break two records since I have my Real Estate license, about 10 years ago now.

The first one is I made, so far, more offers than days in the month. We are Nov 18 and I made 19 offers so far.

The second one, and most important for me, the last offer passed the limit of the 10% higher than asking price. Last year, offers were about 2% to 5% below asking price for those foreclosures in Cape Coral. Last spring, they were about on the asking price. Since last summer, buyers had to go higher than asking price for any Cape Coral foreclosure. November and I had an offer at $301,000 for an asking price of $272,900

Now, what’s amazing is my client has been outbid! Someone offered an even higher price for a foreclosure. That’s a very good sign. We were in a buyer’s market and we are entering a very strong seller’s market.

Of course, everything is not lost. My clients are cash buyers and very motivated to buy. So tomorrow will be another offer for them. I’ll have to suggest to pass the 10% above asking bar though, but they know that already :-)

I often have newer buyers calling me about foreclosures in Cape Coral. When I explain that an offer at asking price or below is just not enough, some of them are a bit sceptical. Some believe I’m bluffing to get more commission, other will try another agent, just to hear what they want to hear. The remaining buyers will try several times below asking until frustration appears. Then, they will remember what I said and will try full asking price offers. Most of the time, if not every time, they will be outbid. Usually, the number of offers at asking price is lower than the previous offers at below asking price. They seems to understand faster. That’s when they hit the third level, and honestly, they can be frustrated as well.

  • - If you are interested to enter the Cape Coral foreclosure jungle these days, be prepared.
  • - If you need a loan, you are already in trouble but it’s not necessarily an impossible mission. Just get you loan paper works ready and handy. Your best chance will be to make an offer the very first day. However, you have 50% chance to be outbid by an all cash offer!
  • - If you try asking price or below, 99% chance you’ll be outbid. Don’t waste your time and start above asking price right away.
  • - If you are a cash buyer, make sure to have your solid proof of funds with you, in your pocket, ready to get it at anytime.


The prices of the foreclosures in Cape Coral, Florida, are increasing, little by little. The demand is there and starving for “good deals”. The best time to buy a foreclosure in Cape Coral was last year and winter-spring 2010. The market is rebounding and for those who didn’t catch the train will regret soon or later.

UPDATE:

Today is March 29, 2011 and I wanted to give some updates.
Last November, when I wrote this article, there were more than 1,000 foreclosures in Lee County. Today, there are only 389! That’s mean we are going forward the end of the foreclosure crisis. And, banks realize that they can get more money now for their properties. The good prices we saw in 2010 are not there in 2011. I hope you bought your foreclosures last year.

Secrets of a Successful Trader

Incoming search terms:

Post to Twitter

Comments (3) Nov 19 2010

Heavy drop of foreclosure in Cape Coral, Florida

Posted: under Real Estate.
Tags: , ,

I saw the big title in the newspaper today. There had been 656 foreclosure lawsuits filed in Lee County in October, the lowest range in a lot more than three years, according to statistics released Monday by the South West Florida Real Estate Investment Association.

It was a rare ray of hope in a grim situation: The Lee County and Cape Coral  foreclosure rate is normally within the top five metropolitan areas nationwide, with only Las Vegas consistently worse.

October’s variety is down 31 % from September’s 953. Yes, you read me: 31% less than the month before. The pace hasn’t been this slow since quite a long time.  555 had been filed in February 2007 as the wave of mortgage failures that followed the housing boom was just obtaining under way.

Experts stated that the decline likely was part of a long-term downward pattern — but that’s not all.

Foreclosures possibly plunged at least in aspect since for the past month, some banks have been holding off on foreclosures whilst they sort out issues including who truly owns the note and whether attorneys basically read all the paperwork, but the holding was only for 1 week and from 2 banks, including a major one though: Bank of America.

But the recent lender troubles alone couldn’t have caused a drop as sharp as October’s. Bankers “did knock some things out, but in the totality with the trend, no. 10 to 20 percent of your mortgages might be affected,” but not enough to account for the whole drop.

County Clerk of Court Charlie Green said that whatever the trigger, the downward pattern has helped whittle away at a daunting backlog of foreclosures within the court system: Public auctions disposing of properties are now outnumbering new filings.

Only about 14,700 cases are from the pipeline now, Green mentioned, down practically half from the 26,000 when the difficulty peaked at the end of 2008.

Still, he cautioned that there’s a substantial “shadow inventory” of houses that banks are selecting not to foreclose on. “I believe we’re clearing some out, but the banks are holding back.”

But we don’t really know how many far more. Next month will give us a better indication as to whether or not it was a normal trend or lenders stopping until they figure out what the issue with their process was.”

Also the pace of foreclosure doesn’t occur in a vacuum: if the winter tourist season is strong, it will reduce unemployment and keep far more people financially able to keep their homes, which is the case in South West Flroida, which include Cape Coral.

I think it will be only in April, May, June of next year that we’ll see how this season’s sales and the economic effect of your season influenced foreclosures.

A big builder in Cape Coral, stated that whatever the short-term pattern, foreclosures can’t sustain themselves at that pace. It’s going to sooner or later start slowing up. And I think it is happening right now.

Also, the issues with the foreclosure process have made some prospective buyers skittish about buying a previously mortgaged house.

However, while I find it easier to sell to prospective renters a house where owners are living in than a foreclosure, that  non distresses market has a hard time to compete with the foreclosures. Plus, new potential buyers have still a hard time to accept the fact that most of the time, there is a multiple offer situation on every foreclosed properties, ending by an accepted offer above the asking price. Often, those buyers go through a 3 step buying process. The first is the below asking price period where the buyer experience the frustration of being outbid. Then there is the full price offers period of time, which is usually shorter than the first one. Most of the time, the buyers learned their lessons and go the third period, the above asking price offers moment where they finally get a property under contract.

It’s now even more difficult with the decrease of the number of foreclosure and with a possible increase of pricing, even for foreclosures.

Incoming search terms:

Post to Twitter

Comments (0) Nov 02 2010

Get Adobe Flash playerPlugin by wpburn.com wordpress themes