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Buyer Agent Bonus...Is it a benefit?

As Realtors we seem to always want to have it both ways.  On the one hand we say that we are buyer or seller advocates and yet we are sales people too and some times those two roles can conflict with each other.  One good example is the idea of offering a buyer’s agent a bonus.

Sometimes sellers or listing agents will give the buyer’s agent a bonus for finding a buyer for a home.  That seems harmless but I have a problem with that practice.  The implication is that an agent will "sell" a home to a buyer because if they do they will make more money. That goes against one of the largest fiduciary responsibilities we owe our buyer client to promote their best interest.

We have to disclose our commission to the buyers.  Commissions for Realtors who work with buyers are listed on the MLS with the rest of the information about the home. The seller pays the buyers commission and most agents accept that as pay for working with the buyer.  The buyer doesn't see the agent bonus on the public MLS it is listed under agent remarks for members only.  Buyers usually don't know or care what the average payout for a buyer’s agent is so even when it is disclosed they may not recognize it as a buyer’s agent bonus.

We work with buyers and they choose the best home with our help. We don't or should not "sell" a buyer a home because there is a bonus in it for us. It is a conflict of interest. 

Are we acting in a buyers best interest if their is a bonus involved for us?  Each time a buyer buys a home there is something in it for us which makes sense because we can't work for free. If a buyer makes an offer we are required to disclose the commission but since the average buyer doesn't know what it is supposed to be they may not know that the agent is getting a bonus.

There are some listings in our MLS that have a very low payout and there are some with high payouts to buyers agents.  I believe it is unethical to base our decision on which home to show a buyer based on the payout.  It would be best if there was no such thing as a buyer’s agent bonus and if all buyers agent payouts were the same but they are not. So it is up to us individual Realtors to try and level the playing field. That is exactly what I try to do with each buyer client I work for. I explain how and how much I get paid and make sure that my buyer knows that if there is a Buyers agent bonus that will go to the buyer, not me.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

"The buyers are knockin'...Cause the houses are Rockin"

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me the Rock-n-Roll Realtor  My listings Rock because they are priced to sell, show to sell and the owners are motivated to sell. Call me and I will make your house Rock.  513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Mason All-Stars networking Group

The Mason All-Stars is a networking group of professionals who meet together every other Thursday morning for the purpose of learning how to help each others business to grow.

This Linkedin group supports our members and is used to share schedules and information about our business activities. Membership is by invitation and is limited to one member from each business sector or discipline.

Today I am privileged with the spotlight of doing my 5 minute presentation to the group this morning. I would like them to see two videos. The first is the rehab project I did in Sharonville at 11191 Maple Street. I am quite proud of this project. It was the very first total rehab project I have attempted on my own.

The second video is of BlueStone Ivory performing a Patriotic song "God Bless the USA" in Fairfield. I am particularly proud of this video. It was recorded & produced by my friend Jim Rupp.

 

I would like to invite everyone to come out and hear BlueStone Ivory at Carlo & Johnny this Saturday night. It is a Jeff Ruby steak & seafood joint. Good Atmosphere, Great food and super entertainment.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

"The buyers are knockin'...Cause the houses are Rockin"

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me the Rock-n-Roll Realtor  My listings Rock because they are priced to sell, show to sell and the owners are motivated to sell. Call me and I will make your house Rock.  513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

 

 

A real Antique

This R2D2 looking contraption is an old Ruud water heater from a century ago. This is not the first time I have seen this particular old model. They must have been plentiful in the day.

In fact I recently listed a home at 1521 Wittekind in North College Hill. It is a great home on a very nice street. The only concern I have is the water heater.The seller swears by this water heater.

He has owned the home for over 30 years and admits that when he first walked into the basement and saw this contraption he was ready to leave. But didn't and became of big fan of the tankless water heater and says he will not have anything but ever again.

As old as this water heater is there is virtually no maintenance. You need hot water? Simply turn the faucet and you have it. It's that simple.

The great thing about these water heaters is they will save you around $300.00 per your in utility bills by not keeping 40 or 50 gallons of water hot 24/7.

 

Tankless Water heaters is a great resource for information about the various brands and styles. Here is a great video describing all about the various types and styles.

So, the next time you are faced with a water heater replacement call me for a recommendation or google it. The tankless system may be exactly what you are looking for.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me the Rock-n-Roll Realtor if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Icicles, Pretty...scary

They are pretty, but nothing to be proud of. These are hanging from a roof near my house. Actually they are everywhere in this weather. They are caused when one part of the room is warmer than another and heat is leaking out through the roof. As pretty as they look they can cause damage. Water can back up and get under the shingles and cause leaks into the house. Usually this problem can be solved by adding more insulation.

I look at a lot of houses. Yes, even in this weather. I usually look at the roof when I pull up the driveway. With all the snow you cannot see the shingles. Well, you are not suppose to anyway. If you do that isn't a good sign. The roof may be fine but chances are the home doesn't have enough insulation. If the roof is covered with snow and there aren't any ice dams or maybe a little ice here and there then chances are the home is insulated. Maybe the roof is covered with snow except for one bare spot. That is an area where there isn't enough insulation and heat is leaking out.

If the roof is covered with snow you need to rely on the residential property disclosure to see if the seller has disclosed any problems, or previous leaks with the roof. I like to open closet doors and look at the ceiling because that seems to be a good place to find water stains. An old stain on a ceiling doesn't mean that the roof needs replacing. I  recommend having a professional home inspection done and most of your inspectors will try and make their report subject to a return visit when the snow is melted and they can thoroughly inspect the roof. If time permits.

One more point about icicles. Be careful, they can be dangerous. Several years ago my daughers were knocking them down with a stick. One large icicle flew straight down and hit my youngest on her head causing a large enough cut that required a couple of stitches. Ouch!!!

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

 

Bridging the gap for extended & expanded homebuyer tax credits.

 Here is some good news. Congress and the Federal Government in agreement of President Obama has extended and expanded the buyers tax credit. These are some of the details.

For first time homebuyers the date has been extended to April 30, 2010. Therefore if you qualify as a first time homebuyer, by not have had an interest in a principal residence for 3 years prior to purchase, then you will receive a tax credit of 10% of the sale price not to exceed $8,000.00.

For details on obtaining these funds I suggest you consult a tax preparer or a certified public accountant for assistance.

The expansion of this bill is benefiting any present homeowner selling their home and moving up.

To qualify you must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years. As long as a written binding contract to purchase a different home is in effect on April 30, 2010 and close no later than July 1, 2010 you will receive $6,500.00 tax credit.

Limitations have been increased and added. Annual Income limits for buyers was $75,000 for singles and $150,000 for married couples. That has been increased to $125,000 for singles and $225,000 for married couples. The added limitation on the cost of home purchase is $800,000.

Again, For details or further questions on obtaining these funds I suggest you consult a tax preparer or a certified public accountant for assistance.

These changes are designed to enhance and improve our national home sales. The initial first time home buyers tax credit seemed to be quite successful so lets hope these enhancements make a big difference.

For more information click here: The Internal Revenue Service issued a memorandum on this subject matter.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

 

Recycling gone wild

 

Real estate signs are very branded with their own logo's and distinct colors.

You can usually determine what company a particular FOR SALE sign belongs to even from a distance.

This sign gave me a big belly laugh when I got close enough to see that it was a recycled RE/MAX sign being used by a FSBO (For Sale By Owner).

I can understand one reason FSBO's are selling themselves is to save money. However at the expense of someone else seems a little unfair.

 

During the 18 years I was with RE/MAX and now as an agent with GROUP Realtors I am responsible for the purchasing and maintaining of all my own signs. The average For Sale sign cost about $45.00. I take very good care and account for all my signs especially in today's struggling market.

FSBO's definitely need our help...but this is not the usual way to help them out by letting them borrow and recycle our signs for their personal gain.

The REALTOR Magazine offers eight reasons FSBO's need Realtors.

I am always ready and willing to help anyone that asks for my help especially FSBO's. However, if they want to use my signs it comes as a package deal. To get to use my sign they get my expertise in helping them price, market, present, report, negotiate and close the deal for them. That is what I love to do and am very good at it. Just ask any of my past clients.

If you would like to speak to any of my past clients I would be happy to give you a list of those that have offered to share their experience using my services. You can also go to my website and read the many testimonials I have posted. www.GaryRossignol.com

 God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

Less is more.

              

I was showing a house the other day and marveled at the history behind this family. Obviously they had a large family. They had decorated in the 60's and 70's with flower prints and the kitchen had a country flare to it with the apple borders and the old fashioned spice rack and pot and pan holder hanging from the ceiling loaded with cooking utensils.

I knew they had a large family because the walls in each room and the hall ways were covered with family photos. The kitchen refrigerator was covered with school work and notices to remember so much you couldn't see the frig.

There were lots of shoes, piled and ready to fall onto the floor as you open the closet doors. Toys of many aged children were lined up neatly along every wall of each bedroom. The basement was like an obstacle course. We couldn't see the foundation wall...not because of drywall, it was just piled high with owners STUFF. Everywhere we looked there was more STUFF.

That really concerned the buyers. If we were to buy this home how long will it take them to move out so we could have possession. They were obviously concerned that the seller would leave a bunch of their STUFF behind that the buyer would need to get rid of.

It took us twice as long to see through this home. The buyer curiouslystopped and looked at all the family photos and Knick Knacks on display buy the seller. And there were a bunch of knick knacks to look at too.

If you want to get the most money out of selling your home I suggest you consult with your Real Estate professional. They will guide you as to what to have hanging on the walls and what not. The photo above is a perfect example of Less is More.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

It creeps up on you ...

Do you know what being upside down is like. Of course we have all experienced the feeling of being upside down. Growing up it was fun to hang from a tree limb by my knees upside down. Or rolling down the front hill in the fall into all the leaves in the yard and end upside down. This is not what we are talking about today.

 A friend of mine from a church group I attend shared about how her car broke down a couple of months ago and the only way to pay for the repairs was with her monthly mortgage payment. Well, she got behind two payments and the bank began foreclosure proceedings.

 WOW!

We have been hearing of this scenario happening a lot. Being upside-down with your mortgage is not a pleasant situation to be in. Most banks are not willing to just let it slide. If you have this problem or know someone in this situation a professional with a system is needed. There is hope and a proven procedure to follow and I am prepared to help work through this devastating situation and to save your credit and sanity.

There are a few solutions but one in particular has become popular with great success.

Short $ales. This is when the owner of a home owes more on the mortgage than they are able to sell it. Certain criteria needs to be in place to qualify such as willingness to work something out and having a bonafide hardship situation.

If the owner qualifies then there is hope. You may call me for a confidential interview to see how we can solve your problem and save your credit and sanity. 513-777-2402

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

It's beginning to look a lot like Christmas

 

Yeah, But here is the spring day count down... Only 45 days and counting?

The weather doesn't look like that is possible. Can that be true?

If you are thinking of going on an exciting Polynesian vacation, this may be the right time to go.  Download Polynesiaview1 Click to view.

  Being a buyers market you need to be prepared for buyers walking through your home. Here are a few good tips to remember.

Many Realtors agree that a potential buyer will stay longer in a home during a showing if the seller doesn't interfere.

Try to give the buyer the freedom of discovering your home. If you can, step out of the house and visit a neighbor or pile the kids in the car for a short ride. If that's not possible, go out into the backyard or to the front porch until the showing is completed.

Remember, the real marketing begins when the buyer walks through your front door. The more flexible you are, and the more you cooperate with your Realtor, the better your chances for a quick sale. If at all possible, have your home in "showing condition" every morning before you leave. That way, your Realtor can quickly and efficiently arrange showings while your are out.  (taken from Home Showing Customs from the Cincinnati Area Board of Realtors)

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.

What should I say?

  Around this time of year my sellers usually ask me "Should we take our home off the market until after the holidays?" or those that want to sell their homes usually say "I think we will wait till spring to put our home on the market". This is very typical for mid to late November.

Lets face it...who wants to go around and look at homes or buy a home and move this time of year?

                            

Well, let me tell you little story that happened to a mentor of mine about 22 years ago. Her name was Eileen Carr and she had been a Realtor for many years when I first got my license. She was telling us about a call she retrieved while trying to get out of the office on Christmas Eve the year before. A lady wanted to see one of her listings. She wanted to see on Christmas Eve...right then. Eileen really had somewhere to go for Christmas Eve evening and was very reluctant to accommodate this lady on the phone. Eileen is a true professional and asked all the right questions and added a few other statements to fit the season.

She basically told the lady that if she was dead serious about buying this home she would take the time to show it to her. The lady insisted because it was going to be a surprise Christmas present for your husband.

Eileen met the lady at her listing, they went back to the office and the lady wrote a full price offer to buy the home and took the accepted contract and put it under the tree for her husband to find the next morning.

So, I don't know how to advise my sellers. Will home prices be higher in the spring. Will someone not be able to buy your home because we took it off the market for the holidays?  I cannot tell you what to do but homes are selling. They are and will continue to sell no matter what. Everyday ...somewhere a home is being sold. Maybe yours will, maybe it won't.

God Bless You and pray for all of our troops to come home safe and for our Country leaders to make the right choices to help us get through this turmoil.

Did you know I have my license in both states, Ohio & Kentucky?...So Please call me if you need help around the house or maybe to buy a new home. I will gladly say THANK YOU! Gary Rossignol, the Realtor with integrity. 513-777-2402 email Gary@GaryRossignol.com.

Also, My Video Newsletter is loaded with up to date Real Estate News and Advice. Some of its features include: Current Interest Rates, National Real Estate News, Mortgage Advice, Question & Answers. Plus much more. It is "real time" and changes each week.