Flat Fee MLS Listings in Alaska, Arizona, California, Idaho, Louisiana,
Montana, Nevada, New Mexico, Oregon, Texas, Utah and Washington

Archive for June, 2008

Our List Now Page

J. Andrew English J. Andrew English
Wednesday, June 11th, 2008

On the list now page, we list the MLS’s we cover by the more populous cities. The thing to keep in mind is that the MLS is area specific, not city specific. This means that that while we list Seattle on the List Now drop down menu, this MLS actually covers almost all of the NW portion of WA. This is an enormous MLS system, however, Seattle just happens to have the highest population within this MLS. Many other cities fall into this same MLS. The reason we do not list each MLS by its name is that most people will not recognize their system. For example, the North Texas system is actually called NTREIS, however, we list this in the List Now area under DFW, despite that it actually covers a much larger territory than just DFW. If at anytime you would like to clarify which MLS your property falls into, give us a call at 800 657 6579.

Oregon and Nebraska

J. Andrew English J. Andrew English
Tuesday, June 10th, 2008

Congress Realty has completed our paperwork for our brokerage license in both Oregon and Nebraska. We have filed our applications with the state and are awaiting our approval. We are very pleased to be able offer our limited service listing program to Oregon and Nebraska property owners in the very near future. For details, please contact Andrew English at 800 657 6579 ext 1. We expect to be up in both states by late June early July of 2008.

LC’s House for Sale (Laguna Beach and The Hills star)

Donald L. Plunkett, Jr. Donald L. Plunkett, Jr.
Monday, June 9th, 2008

Photo by Main Beach Realty / Listed on SoCal MLS

The Conrad family home in South Laguna was listed for sale last week.  Asking price: $17,900,000.  The home is located on over 11 acres and sits above the subdivision where other show stars like ‘Lo’ and Christina lived.  The lot was purchased in 2001 for $2,500,000, so you can rest assured there is a good amount of profit priced into this list price.  If any well-qualified buyers out there would like to view the property or other similar ones, please contact us at info@congressrealty.com.

LC’s House

How Realtor® Groups spend their money – Good or Bad?

J. Andrew English J. Andrew English
Friday, June 6th, 2008

Realtors® pay dues each and every year to their local board, state association, and National Association. These funds are allocated different ways, sometimes in responsible ways and sometimes not. It is not uncommon for Realtors® to have no idea where their money is actually going. I personally called the Austin Board of Realtors® asking about a bill received this past fall. On my invoice, I had a line item for something I had never heard of before. When I called to inquire, no one in the billing department could tell me what the bill was actually for or where the money was going. Sadly, I wasn’t surprised.

GLVAR (Las Vegas Assc of Realtors®) has done a fairly solid job in years past of spending money wisely. They have adopted bill boards throughout the community encouraging anti graffiti, etc… Other boards throughout CA have spent money opposing increased real estate transfer taxes levied by the counties. These groups should be commended for spending money in hopes of helping both its members and public. By opposing transfer taxes, these associations are taking an active role in reducing the cost of selling a home.

It’s a shame NAR can’t follow the lead of these associations. Instead, they continue to waste millions of dollars fighting the DOJ on issues they aren’t going to win. NAR would be much better served to put this money to a more positive use. Examples include Realtor® education, opposing the new Green Law proposition in Austin, etc…. NAR could do so much to increase its public perception by using their funds responsibly. Instead they waste their money fighting the DOJ and further reduce the public opinion of Realtors®.

Lender Owned Properties in the MLS

J. Andrew English J. Andrew English
Thursday, June 5th, 2008

2 interesting observations in Las Vegas and Phoenix:

Properties at a higher list price that are marked lender owned/bank owned are receiving more traffic than competing typical resales. (Priced higher to a point) How is that possible? Buyers want to feel like they are getting a deal. They see the term lender owned and they automatically associate it with discount. The reality is that many of these buyers are simply bidding up lender owned properties to prices above what they could have paid for the resale down the street. I have seen lender owned properties in Vegas have 25 offers within 2 weeks and sell at 10% above asking price. My advice to buyers is to concern yourself more with your bottom line and less with only focusing on bank owned properties.

2nd observation:

Realtors® hate dealing with short sales. Listing a short sale is easy, working with a buyer and explaining the short sale process is not so easy. Sellers are abusing the term short sale and buyer agents are beginning to respond by showing the property down the street instead. The problem is that many “short sale” listings aren’t actually ever going to be approved by the lender. Sellers need to speak with their lender and understand the process before marking the property a short sale. Agents who bring offers at list price only to find the lender baulk at the idea of a short sale agreement leads to unhappy agents. Those looking for proof of my statements, compare the # of sold short sale listings in LV and Phoenix over the past 6 months with the # of lender owned sold properties through the MLS. The lender owned properties will have a greater ratio than 20 to 1 over short sales. (when comparing CLOSED SALES)

Fort Worth – TCU area

J. Andrew English J. Andrew English
Wednesday, June 4th, 2008

This particular area is one of the few areas that I am aware of that is still booming. A drive down Stadium Drive, Boyd, etc… will yield many properties being torn down and new houses going up. In some instances, 2-3 homes are being torn down for the development of one larger home w/ at least a ½ acre lot. This area has outperformed almost the entire DFW metroplex in appreciation over the past 12 months. Furthermore, owners in the area are using their equity to remodel and update their current homes. This small area between TCU and Colonial Country Club saw a slow steady appreciation between 2000-2005 and now has seen a much larger jump from 06 to 08. Currently, it is next to impossible to find anything in this area for under 250k. Prior to the end of 08, I expect there will be nothing within this small niche listed under 300k.

All Flat Fee Companies are not the same

J. Andrew English J. Andrew English
Monday, June 2nd, 2008

Simple, our listings sell, it’s a verifiable fact. Why do they sell? Buyer Agents know when they see our name they are going to get paid exactly what is stated in the MLS. Trust me, this is a really big deal to buyer agents. When a full service Realtor® shows another full service listing, they know they are going to be paid what is stated in the MLS listing. The last thing a buyer agent wants to worry about is having to negotiate their commission. This is exactly why we sell more listings than any other Flat Fee Company. Buyer Agents treat our listings just like any other full service listing because they know they are going to get paid exactly what is listed in the MLS. We have a 6 yr track record and over 5000 sold listings to prove this fact. Word gets around really quickly that if you show one of our listings, you are going to get paid just as you would with any other listing.

Beware of any flat fee company that does not protect buyer broker/agent commissions very strictly.