{"id":816,"date":"2006-12-29T09:05:17","date_gmt":"2006-12-29T16:05:17","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=816"},"modified":"2006-12-31T09:47:01","modified_gmt":"2006-12-31T16:47:01","slug":"information-comes-with-experience","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/816\/information-comes-with-experience\/","title":{"rendered":"Information comes with experience"},"content":{"rendered":"

This is me from today’s Arizona Republic<\/i><\/a> (permanent link<\/a>):<\/p>\n

Information comes with experience<\/b><\/p>\n

Continuing from last week, let’s work together as Realtors and round out the purchase offer for our buyers.<\/p>\n

What’s the best closing date? The buyers have never thought about it, but it’s our job to know. They’re in a lease until the end of January, and obviously they would want to limit the number of days they pay for two homes.<\/p>\n

But mortgage interest is paid in arrears. If the buyers close very late in the month, they will pay a small amount for those few days of interest, and then their next payment will not come until March 1 — a nice breather.<\/p>\n

Closing too late in the month is bad because things can spill over to the start of the month — which means almost a full month of interest payments in advance. Ideally, we want a Tuesday, seven to 10 days from the end of the month.<\/p>\n

But wait: The buyers are taking 3 percent in closing costs. Who cares about pre-paid interest? The buyers might not know to care, but we get paid to care. Our costs are so low that we might be able to apply a big chunk of that 3 percent to buying down the interest rates, leaving the buyers with extra money in their pockets with every monthly payment.<\/p>\n

How much in earnest? A thousand dollars, right now. It’s a buyer’s market.<\/p>\n

Now this is not a hugely aggressive offer. Buyers are rarely willing to push things as hard as they might. But, the aggression in this offer was put there by us, not by the buyers. Most of the very subtle ideas the buyers will have known nothing about until we explained them.<\/p>\n

That’s representation — real, not perceived. Truly, the buyers had no idea how to construct an offer for their home.<\/p>\n

Every home is unique, and every real estate transaction is unique. There is no way that unrepresented buyers and sellers can do as well for themselves as they could with professional representation. The information that matters doesn’t come from the MLS, it comes from the Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is me from today’s Arizona Republic (permanent link): Information comes with experience Continuing from last week, let’s work together as Realtors and round out the purchase offer for our buyers. What’s the best closing date? The buyers have never thought about it, but it’s our job to know. They’re in a lease until the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[6,5],"tags":[],"class_list":["post-816","post","type-post","status-publish","format-standard","hentry","category-marketing","category-real-estate","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":660,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/660\/dual-agency-smack-down-real-estate-in-real-life\/","url_meta":{"origin":816,"position":0},"title":"Dual Agency Smack-Down: Real estate in real life . . .","author":"Greg Swann","date":"February 18, 2010","format":false,"excerpt":"Kicking this back up to the top. I wrote this on November 19th, 2006, but nothing has changed since then. But, as it happens, our friends at Agent Shortbus have taken up the topic of dual agency, albeit without reference to anything rigorous or dispositive. We have a whole category\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1899,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1899\/appraisal-inspection-could-swing-the-balance-toward-sellers\/","url_meta":{"origin":816,"position":1},"title":"Appraisal, inspection could swing the balance toward sellers","author":"Greg Swann","date":"September 7, 2007","format":false,"excerpt":"This is me in the Arizona Republic (permanent link): \u00a0Appraisal, inspection could swing the balance toward sellers It's not fun to be a home seller right now. We've talked about why your home must be priced right, prepared right and presented right in order to sell. But -- guess what?\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4234,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4234\/august-was-a-great-month-for-real-estate-sales-but-when-40-of-buyers-are-pushed-off-the-playing-field-home-prices-could-plummet\/","url_meta":{"origin":816,"position":2},"title":"August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet","author":"Greg Swann","date":"September 6, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet We won't have reliable numbers for a few days,* but preliminary results leave\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8456,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8456\/skinning-elephants-the-lifelong-salutary-benefits-of-negotiating-your-compensation-with-your-buyers\/","url_meta":{"origin":816,"position":3},"title":"Skinning elephants: The lifelong salutary benefits of negotiating your compensation with your buyers","author":"Greg Swann","date":"May 15, 2009","format":false,"excerpt":"Here's how Mike Elsberry, my home inspector, charges for an inspection for one of my clients:A sliding-scale price based on square footageA sliding scale price based on the age of the homeBigger homes take somewhat longer and entail somewhat more work to inspect than smaller homes. Older homes may have\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17833,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17833\/overnight-news-the-ultimate-in-buyers-agency-dating-in-handcuffs\/","url_meta":{"origin":816,"position":4},"title":"Overnight News: The ultimate in Buyer\u2019s Agency: Dating in\u00a0handcuffs.","author":"Greg Swann","date":"February 10, 2021","format":false,"excerpt":"I listed a house on January 29th that closed yesterday \u2013 eleven calendar days, inclusive, and the seller is out of state. The house sold in one day on market. I'm normally not quite that quick \u2013 it takes a few days to milk every offer to the limit \u2013\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9306,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9306\/why-should-you-enlist-a-buyers-agent-to-help-you-buy-a-home-because-youll-get-a-much-better-deal-even-if-you-pay-full-price\/","url_meta":{"origin":816,"position":5},"title":"Why should you enlist a buyer’s agent to help you buy a home? Because you’ll get a much better deal — even if you pay full price","author":"Greg Swann","date":"July 25, 2009","format":false,"excerpt":"This from my Arizona Republic real estate column (permanent link): Are home-buyers best served by the vigilant efforts of an experienced buyer's agent? Consider a transaction we have in play right now. The buyers are a young couple, about to be married. They have about $10,000 in cash. With a\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=816"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/816\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}