Email ElizabethCrooks and Real Estate and the Internet
My husband used to cover criminal courts as a beat newspaper reporter in Chicago, and he says crooks get caught because many crooks are stupid. Can’t say that I know very many crooks, if any, but my personal feelings are if a person is stupid enough to be a crook when the other choice is to not be a crook, it seems likely that the person is stupid enough to make a stupid mistake.
I’m not talking about the people who are starving for a baloney sandwich and nobody will give them any money as they stand begging at the corner of the freeway, so they swipe a loaf of bread from the corner grocery; I mean the guys who would knife you in an alley and grab your wallet, along with your wedding ring. Or, kick in the door of your home and run off with your big screen TV after pulling out all of your copper plumbing.
Speaking of which, another seller in Sacramento just had his AC unit stolen from the yard while selling his home. I mentioned this to sellers yesterday as I listed their home in Elk Grove. Some people install cages over their exterior AC units. But this couple have a neighbor who kind of sounds like Gladys Kravitz, so they will probably be OK. I have neighbors like that in Land Park, and one of them is a retired police officer. There was once a time when you didn’t want anybody poking a nose into your business, but not so anymore.
Which brings me to the point, and I apologize for the long-about way I went to get here, that not only are we dealing with real-life crooks in Sacramento who are in our faces, but we have crooks who run amuck all over the Internet. These people don’t think of themselves as crooks, which makes it even more challenging. However, they swipe content that belongs to the person who wrote it and post it on their website as original content. That qualifies for crookism.
Now, I think it’s bad enough when a Sacramento real estate agent, for example, hires a professional writer to write a blog for that agent, because that’s not what blogging is about and it’s misrepresentation in my book, but it’s a hundred times worse when they intentionally swipe content.
Imagine my surprise this morning when I came across a response in Trulia that was copied and pasted by an agent in San Francisco, and it was my words that this agent swiped. Not only that, but it was my words from a response to another post I made on Trulia. So, he stole the content from the same website that he plagiarized. Where I, the original author, would likely spot it.
I noticed it because I recognized my own words. Most people don’t write like I write. I string phrases together and use certain words in a way that other people don’t. It’s one of the reasons why About.com hired me. I have a unique voice. And when somebody tries to take it from me, I will put a stop to it.
You can’t take photographs or words or articles that you find online and republish them. Everything online is copyrighted, and to reprint, a person needs permission. You can’t just give credit to the person who wrote the piece, either without obtaining permission. Getty Images is suing a real estate agent because she re-blogged (with permission), another agent’s blog (not mine), and the image in that blog belonged to Getty Images.
The moral to all of this blathering is help the hungry, don’t swipe AC units, and don’t steal online material.
Can You Buy a Preforeclosure Home in Sacramento?
Lots of preforeclosure buyers contact this Sacramento real estate agent because I post my goofy-ass face on other real estate websites and often participate in online discussions about homebuying in my spare time. My husband doesn’t understand why I do it. He thinks I should do something else with my free time like going out to dinner or hiking in the foothills or searching the Internet for great airfares to Iceland. But then he didn’t understand why I agreed to be on a House Hunters show about short sales, either.
Most normal people, when they are away from work, focus on other things, stuff that is more fun to them. They lead what is known in some circles as a balanced life. Then there are those of us that belong to that special breed of craziness, those of us who are actually doing a job we completely love to the point that it’s totally fun and not work. We are passionate about our work. If that work also involves short sales, foreclosures and preforeclosures, it’s just that much more interesting.
Any person with reasonable intelligence (and some with less than that) can be successful in real estate and sell a home. Some of us go a step or two beyond because that’s what buyers want from us. They want us to possess the skills to buy a foreclosure, buy a short sale or buy that terrific preforeclosure home they saw advertised on another website for some ridiculously low price.
The problem with that is the pre-foreclosures are not for sale. These are homes made public because the sellers are in default. It’s not that easy to buy a preforeclosure but it can be done under certain circumstances. It’s recognizing those certain circumstances that make the difference.
For most Sacramento home buyers, though, buying a preforeclosure will never happen. That’s because they don’t really want a pre-foreclosure, they just think they do. What they want, what they really, really want is a good deal. That’s not necessarily a preforeclosure.
Why Sacramento Listings Are Withdrawn, Canceled or Expired From MLS
Not to have a single withdrawn, canceled or expired real estate listing in today’s Sacramento real estate market is completely impossible among top producers, yet some websites rank agents by percentage of listings sold. If a Sacramento real estate agent had only two listings a year — and that’s about the number of listings that most agents list — and she sold one and the other seller canceled, the agent would show a 50% ratio, which is really bad.
There are many reasons why a home listing in Sacramento might not see its way to closing, and most of those reasons are out of the agent’s control. Let’s take a look at withdrawn or canceled listings, for example. This is excluding a canceled listing that comes back on the market with a new MLS number to reset the days on market, or is off the market for a spell during a winter vacation or improvement project. Typically, 3 things cause a canceled listing:
- Insanity
- Exhaustion
- Overpriced
Insanity. When an agent deals with a large cross section of the population, she is likely to encounter a few sellers who suffer from sort of mental incapacity. They could be completely psychotic or simply bipolar but not every seller is balanced. Is it the agent’s fault that she doesn’t have time to administer the Minnesota Multiphasic Personality Inventory test prior to accepting the listing?
Exhaustion. This happens more frequently during short sales because these types of transactions take much longer than other types of home sales. If the buyer, for example, drops dead or buys another home (same thing to the seller, basically), thereby canceling, the short sale can start over. There are many reasons for short sale rejection, and sellers need patience to eventually close. Some sellers give up the fight and choose foreclosure.
Overpriced. This is the most common reason for a withdrawn, canceled or expired listing. It is the worst mistake a seller can make, but sellers choose the sales price. When a home doesn’t sell due to price, sellers become angry at themselves and some of that anger ends up hurled in the agent’s direction, too, because who wants to squirm in their own hostility all by themselves? Misery loves company.
There is a guy in my real estate office who makes a very good living by working with withdrawn, canceled and expired listings. He spends all day in a space about the size of a phone booth calling these sellers. Can you imagine his phone conversations? The guy has got to be an armadillo in disguise or a saint, I’m not sure which.
In any case, all of these canceled listings can affect an agent’s percentage performance on some websites, and percentage of listings sold is not an accurate indicator of the agent’s actual performance.
A Tip for Sacramento Listing Agents About Showing Followups
My personal belief, as a top-producing Sacramento real estate agent, is every single one of my sellers deserves to hear about all of their showing activity. I mean, just put yourself in your seller’s shoes. Your home is for sale, you see business cards on the table when you come home so you know agents have shown it, but you hear nothing from your Sacramento listing agent about those showings? You would have no idea about what’s going on if your agent doesn’t follow up.
And that is not a good place for a seller to be. That, people, is a place of anxiety. My intentions are to never make my sellers anxious or stressed out. Part of my job as their listing agent is to make the process of selling a home in the Sacramento Valley move as smoothly as possible for my sellers, with the fewest hiccups and disruptions.
For example, even if I have nothing to say, if for some reason there has been no showings for a week and not much has happened in the neighborhood, I still try to check in with my sellers and provide them with updates, even if it’s nothing more than # of hits in MLS. For crying out loud, something probably sold within 6-block radius or a new home came on the market, and sellers might want to get that information from their Sacramento listing agents. You think?
I am constantly analyzing why a home might not yet have an offer. The difference between me and another agent is I try to share those thoughts with my sellers — to come up with a new strategy if my existing strategy is not giving us the results we want. With some homes, we just need to wait, be patient and continue present marketing because there might not be as many home buyers in that particular price range.
But to not follow up after an actual showing by a buyer’s agent with buyers in tow, well, that’s unthinkable in my book. Following up with the buyer’s agent is easy, yet many agents don’t do it. They say buyer’s agents don’t respond, and that’s true, some of them don’t. But some provide valuable buyer feedback. By contacting buyer’s agents, I’m also giving them my email address so they can quickly address a concern their buyer might have had but they didn’t yet have time to ask me.
Here’s how Sacramento listing agents can do it. Go to MLS and click on your listing to open it. Click on the box that says “SUPRAweb Showing Activity,” which is located under the row of photos on the very left of the page. That will open a small window in your browser showing all of the activity for that particular home. Don’t stop there. Instead, click on Log On to SupraWEB, on the right-hand side. Sign in with your user name and password.
This will take you to your Showing Dashboard, which reveals all the showings for all of your listings. You can change your dashboard date range but I keep mine set to the past 2 days because I constantly check this dashboard. Right there, in front of your face, are the emails, times accessed and all of the information you need about every single buyer’s agent who showed your listing. Click on the email, and it will automatically open an email for you to send the buyer’s agent a message.
And there you have it. Now you have no excuse not to keep your sellers updated with feedback from agents who have showed their homes. This makes your sellers happy, both of you informed, and it gives you a chance to build a rapport with the buyer’s agent.
Sacramento Short Sales Mortgage Debt Relief IRS Letter
Sacramento sellers who expect to close on a short sale in 2014 have a very good reason to send flowers to Sen. Barbara Boxer and, while they’re at it, maybe C.A.R. as well. I received the best news this morning, which I can’t wait to share with everyone because it’s about mortgage debt relief. Taxation on mortgage debt relief has been on the tongue of every single short sale seller I have talked to who might have to close escrow next year.
In a nutshell, we have no worries about federal taxation on mortgage debt relief resulting from most closed short sales in California from here on out. Other states, they probably have cause for concern, but not California. What makes California so special apart from our sunny weather, smog-hidden mountains and polluted oceans, and let’s not forget Cal Worthington? We’ve got California Civil Code 580e, resulting from the passing several years ago of SB 458.
Under ordinary circumstances, the federal tax code says if a person has had debt canceled, the amount that was forgiven is subject to taxation. However, in 2007, the Mortgage Debt Forgiveness Act passed that says taxation on canceled debt does not apply to a short sale, subject to certain criteria. Every year, the mortgage debt relief protection has expired and every year the federal government has extended it. This year, it’s not yet been extended because our lovely legislators continue to wrap in the mortgage debt relief extension with other legislation that won’t get passed even if they lined up every legislator against the wall, blindfolded them and threatened to shoot them all at will.
This political game has caused short sale sellers in Sacramento extraordinary grief and stress. Many of my sellers have called to say they don’t know what they will do if we can’t close their short sale by December 31st, 2013, when the federal mortgage debt relief protection expires.
However, the argument brought forth to the I.R.S. by Sen. Barbara Boxer, with C.A.R.’s assistance, is that sellers are released from personal liability in a short sale under California Civil Code 580e, and that makes short sales non-recourse, so why should a seller be subject to federal taxation on top of it? The I.R.S. agreed and issued a letter that said California short sales protected by our California Civil Code 580e are not subject to federal taxation for mortgage debt relief. This is huge!
C.A.R. and Sen. Barbara Boxer are working on a similar letter from the state of California, which is expected to follow suit.
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