{"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":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-816","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"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":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":1},"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":[]},{"id":1899,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1899\/appraisal-inspection-could-swing-the-balance-toward-sellers\/","url_meta":{"origin":816,"position":2},"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":920,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/920\/dont-drop-that-listing-pricejust-yet\/","url_meta":{"origin":816,"position":3},"title":"Don’t Drop That Listing Price…Just Yet","author":"Brian Brady","date":"January 20, 2007","format":false,"excerpt":"Real estate agents have consistently used pricing as the primary mechanism to sell your home. Don't forget owner-financed terms as a selling feature. Let me give you an example of how to offer a seller-carryback (and cash it out): You listed your home at $500,000 and it isn't selling. You\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":65,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/65\/ten-trillion-times-a-tiny-loss-is%c2%a0a-huge-loss\/","url_meta":{"origin":816,"position":4},"title":"Ten trillion times a tiny loss is a huge loss . . .","author":"Greg Swann","date":"June 29, 2006","format":false,"excerpt":"I have been devoting a lot of my time to some ascendant ideas in Real Estate loosely based on the Web 2.0 model of internet commerce. The ideas are ascendant, but they're not necessarily good. I weigh in on the skeptical side for now, but I'm watching all this with\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":296,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/296\/securing-the-home-buyers-place-at-the-table-how-two-simple-reforms-can-finally-result-in-a-full-uncompromised-form-of-buyer-representation\/","url_meta":{"origin":816,"position":5},"title":"Securing the home-buyer’s place at the table: How two simple reforms can finally result in a full, uncompromised form of buyer representation . . .","author":"Greg Swann","date":"September 6, 2006","format":false,"excerpt":"Executive summary: This is long, and it's written (I hope!) for ordinary people, not real estate professionals. But I want for real estate professionals to be aware of this argument, because I think it solves several of the knottier problems affecting our industry. Here's a quick summary of the essay:Buyers\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"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}]}}