Luxury Real Estate

Courtesy of Frederick Peters, President of Warburg Realty

Every now and then I like to reflect on why I became, and remain, a residential real estate broker. When I started, in 1980, men didn’t pursue this job; they became commercial brokers. Residential was a “woman’s business.” Over the years I have been treated like a servant (that happens a lot), I have ACTED like a servant (many beds made, curtains unhung, bathrooms cleaned etc.), and I have endured the know-it-all attitude of people half my age who in fact know much less about my business than I do. So why stick with it?

· First, it’s fun. Residential property is endlessly interesting, as are people’s choices about the use of space, furniture, and style to create a personalized environment.

· Second, the psychodynamics are fascinating. Who’s in charge? What is the client REALLY looking for? Who actually decides which offer is acceptable? We brokers listen and intuit throughout our professional relationships, which are short but intense, because without knowing the answers to these questions we are not effective advocates.

· Third, it’s diverse. To succeed as a residential agent, you have to do a lot of things well: you need great interpersonal skills, a strong enough personality to close, a sensitive enough personality to work with many different character types, a lot of math, analytical ability, and enough drive to keep going even when things continually go wrong, or just don’t go at all.

· Fourth, and most importantly, what we do is deeply important. Shelter is a basic human need, and creating a home underpins the human desire for a sense of place. Where we live locates us in the world, and how we live reinforces our own identities and tells others important things about who we are and what we value. I have always been proud of my work, and that of my colleagues, to facilitate the creation of something so fundamental and profound.

You can read more on www.warburgrealty.com/blog

Courtesy of Jenna Brossman of Del Realty

CORONADO, CA – In a real estate market flooded with homes competing for buyers’ attentions, sellers can no longer afford to overlook the exterior appeal of their homes. In fact, according to a Gallop survey, quality landscaping can add anywhere from 7 to fifteen percent to a home’s value. Additionally, 82 percent of practitioners polled in a Real Estate Agent Community Trends survey said that buyers who were unimpressed with a house’s curb appeal often wouldn’t even consider looking inside.

“I’ve had showings scheduled where clients have literally changed their minds on the spot after seeing an unkempt front yard,” said Ruth Ann Fisher, broker for Del Realty at the Hotel del Coronado. “The importance of a home’s exterior appeal really can’t be emphasized enough.”

To help ensure that your property doesn’t get overlooked, Del Realty offers the following tips to boost the outward appearance of your home.

1. Make sure your lawn is mowed and well kempt.

2. Create sharp, clean, crisp lines by trimming along all edges to ensure that there are no stray pieces of grass or weeds.

3. Remove debris and clutter from your yard. Buyers may not be able to look past a messy exterior to see a home’s true potential.

4. Make the best use of color: If your yard is on the smaller size, make it seem larger by planting blue, purple or light pink flowers. These colors have been shown to recede giving the impression of a larger area.

5. Repaint peeling decks and fences. You don’t want buyers to think that they’ll have to repaint the minute they move in.

6. Roll up hoses and place them in a spot where they won’t be in the way.

7. Wash and clean your windows so that they sparkle.

8. Pressure wash dirty siding and dingy decks.

9. Check outdoor lighting to make sure everything works. There’s nothing more uninviting than a dark house.

10. Lastly, if you have an irrigation system, program it so that it won’t go off during showing hours. An unexpected shower could negatively affect your client’s opinion of the property.

Del Realty is a full-service real estate company specializing in Coronado, Beach Village at The Hotel Del and surrounding San Diego communities. For more information call 619-437-1888 or visit HotelDelRealty.com.

By Frederick Peters, President of Warburg Realty

Selling your home (or residential real estate investment) is a big deal. In fact for many people it is the largest financial transaction they will ever do. And a good real estate agent is a professional, just like an attorney or a financial advisor. So why would you entrust it to you sister’s mother-in-law’s cousin, just because you know she is an agent and you have this tenuous connection? Would you choose the manager of your securities portfolio that way?

One of the prevailing myths about real estate brokerage is that anyone can do it. For many years, the popular perception in New York City was that all you needed was a mink coat and a bunch of keys. It is true that the bar for entry is NOT high - passing the New York State real estate agent exam is not difficult, nor is completing the continuing ed requirement. But we are a professional group, with professional standards and expectations. As a consumer, here’s what you should be looking for:

1) Integrity. Nothing else matters if your agent will not deal with you, a co-broker, and the person on the other side with the highest ethical standards.

2) REBNY membership. REBNY (The Real Estate Board of New York) educates its members, provides and enforces behavioral standards, and manages dispute resolution. Any agent with a claim to being a professional is a REBNY member

3) Recommendations. Speak to people who have actually worked with the agent you are considering and see what they thought. If you don’t know an agent but have heard about them (or in the case of the sister’s mother-in-law’s cousin mentioned above), ask for references and call them.

4) Knowledge and Sensitivity. If you are a seller, make sure the agent you are considering understands your neighborhood, your needs, your requirements. Do they listen to you (if not, they probably won’t be listening to prospective purchasers either)? Do they talk too much (ditto the above, and nothing turns a buyer off more than an agent yackety yacking away while they are trying to view a property)?

If you are a buyer, does your agent understand your criteria? Does he both show you what you have described and try to sensitively stretch those criteria to include other options? Does he clearly understand the details of the co-op, condo, or townhouse buying process and fully inform you about what you will need to do?

5) Intelligence. If you are a seller, are you confident your agent will articulately promote your home’s strong points while managing the negatives to minimize their impact? Does she understand your needs so that any negotiation is managed to make sure you can move at the right time, take what you want with you, and leave no money on the table?

Conversely, if you are a buyer, are you confident your agent knows the comps well enough to get you the best price for the property? Do they understand the nuances of the building? Do they have strong quantitative and organizational skills which will enable them to assemble your personal, professional, and financial information into a clear and cogent Board package?

6) Finally, you are going to be spending a lot of time with this person, both face to face and on the phone. You had better like them.

This list is by no means comprehensive, but it should put you well on your way to choosing a smart professional who will be a partner in making your real estate transaction proceed as smoothly as possible. And that’s what is best for all of us.

By Brian Langhorst

We are very pleased to announce that Hogans Real Estate and Insurance in Chestertown, Maryland is now a member of LuxuryRealEstate.com and Who’s Who in Luxury Real Estate! Hogans Real Estate and Insurance serves the Eastern Shore of Maryland and has been a market leader for more than 50 years. Franklin Hogans is the broker/owner of this esteemed member.

Please view their listings and learn more about them on their profile or at www.hogans.com.


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. It’s always nice to hear about how our network is expanding and assisting new members. Thanks for the update, Brian.

By Brian Langhorst

LuxuryRealEstate.com is very proud to associate with many of the top brokerage houses in New York City. There are several markets that are doing very well this year with strong activity throughout the luxury price ranges.

New York City has just announced that for the first three months of 2008 the average listing price in Manhattan is up 33.5 percent from the same period last year. This information was published in The New York Times and is courtesy of Prudential Douglas Elliman, our member, and the appraisal firm Miller Samuel Inc.

I think this information points to some very positive aspects of our industry and feel that the news is not helping the diligent efforts of our REALTORS® to accurately inform the public about the true status of the market.

Please let us know how things are going in your market!


Editor’s Note:
Brian Langhorst is LuxuryRealEstate.com’s Membership Manager. He meets members’ unique needs through the dynamic services LuxuryRealEstate.com provides. I’ve never had the pleasure of visiting New York City, but I keep hearing wonderful things about it. It is astonishing how the strong New York’s market is right now, and it is certainly welcome news.