What is "As Is?"

So, the situation is that you want to buy a property and the seller says it's "as is."  What exactly does that mean?  Are you stuck with it if you find out something is wrong after the seller accepts your offer?  Will the seller negotiate any repairs?  Will the seller negotiate the price after the home inspection?  Does "as is" mean the property is in bad condition?  Does this mean there are problems that the seller doesn't want to disclose?

"As is" is very common these days, especially with sellers who have no equity and with the huge influx of bank-owned properties and short-sale properties.  Normally, you will see "as is" associated with bank-owned properties, short-sales, auction properties, sheriff sales, and estate sales.  If it's a "normal" sale the home will not usually be sold "as is."

Basically "as is" means this: the seller will not fix anything.

Does that mean you cannot have a home inspection?  No, it does not.  Keep in mind that the purchase contract always controls every transaction.  And while "as is" may be the way the property is sold, most sellers will still allow you to have a home inspection.  However, regardless of what your inspection determines, the seller will make no repairs.  Again, this is common with bank-owned properties, where the seller (the bank) doesn't want to mess with it.  That being said, most contracts include a clause that says that the buyer can get out of a sale if they find things wrong that they are not comfortable with, even if the property is listed "as is."

So, we know the seller wont make repairs, but will they lower the price?  Sometimes, it just depends.  This is an option, and banks can be open to dropping the price based on things that come up during the home inspection.  Sometimes they will negotiate, and sometimes they will not.  It really just depends.  But many times it worth trying.

Are "as is" properties always in bad shape?  No.  They can be, but just because a property is listed "as is" doesn't mean it's a total rehab.  Again, it just depends.  On things like an estate sale the family involved probably doesn't know anything about the property and just wants to get rid of it.  "Not knowing" doesn't mean it's in serious disrepair, it just means they don't know, and they don't want to deal with a laundry list of repairs.  Either you want it, or you don't.

On short-sales where the property is "as is" the seller has no money, and is upside down on their mortgage. The bank will not let the seller make repairs and the bank, who is directly involved in the short-sale, will also not make any repairs because the loan is already upside down and the bank is already in the hole for thousands of dollars.  They don't want to take another hit for repairs, they're already losing money.

"As is" doesn't necessarily mean the seller is hiding something.  Again, banks and estates rarely have any direct knowledge of the property.  Basically, they don't know about the condition and they don't care.  In some cases, the seller has to provide a property disclosure, in which the seller discloses what they know/don't know about the property.  These disclosures vary from state to state, and in general, banks and the like are not required to provide a property disclosure.  See my previous posting on seller's disclosure.

One last thing: if the property is "as is" because it IS in bad condition that makes buying it with a mortgage particularly challenging.  Many "as is" properties will only sell with cash or with a special financing program that takes into account the condition.  But that's a blog post for another day. 

I hope you are now an expert in "as is" properties.  Happy hunting!      

What Does the Seller Have to Disclose on a Sale?

In Ohio, and in other states, the seller of a property is required to fill out and present to any/all potential buyers a Residential Property Disclosure Form, provided and mandated by the State of Ohio.  Here is the actual form if you'd like to take a look at it: http://com.ohio.gov/real/docs/real_ResidentialPropertyDisclosureFormSince20130101.pdf

This is a good tool for potential buyers because they can see what issues and/concerns/repairs the owner has dealt with on the property.  However, the Ohio Revised Code states that there are (9) exceptions to providing the Residential Property Disclosure. 

 Here they are:
 

1. A sale by a fiduciary in an estate, guardianship or trust.
2. A foreclosure.
3. A newly constructed property never previously occupied. (A model home will have an occupancy permit and is therefore not excluded from the disclosure requirement.)
4. Inherited property where the (selling) heir has not resided during the past (1) year. (Even if the heir grew up in the property, if he has not lived there for the previous year, he is exempt from disclosure requirements.)
5. A sheriff's sale.
6. A court-ordered sale. (Bankruptcy, for example)
7. A sale to a co-owner or from a divorce.
8. A sale to, or by a government entity. (HUD, ODOT, an eminent domain condemnation)
9. A sale to a tenant who has resided in the property for the past year.

For more information on property disclosure contact your state's division of real estate.

I Just Want to Look at Homes

It never fails.  I constantly get e-mails and phone calls from people who "want to look at homes" - or want to look at a specific home - right now.  A potential buyer will see a home on a particular website, or driving down the street and call me or e-mail me and say, "Hi, my name is John.  I saw a home on ABC website.  I want to see it.  When can you show it to me?"  That's typically how the conversation starts.  Every agent's dream, right?  A hot-to-trot buyer, ready to go, already has a home picked out.  Not so fast....

Some buyers need to be educated.  Most that contact me in the above manner do not understand how the process works.  It's not as simple as "I'm a buyer, there's a house, show it to me."  If, in fact, you are a buyer who "just wants to see houses" then you need to find an agent who "just shows houses."  In that case, I am not the right agent for you.  Let me explain.

Don't I show houses to people?  Isn't that what I do?  Why can't I just "show you a house?"  Well, I could.  But I prefer not to.  Why?  Because you probably aren't ready to buy a house.  Are you pre-approved with a lender?  Have you established a relationship with your "own" agent, or are you randomly calling agents?  Do you even know what you can afford?  Do you understand the steps in the process of buying a home?    If you answered "no" to any of these questions, you are not ready to buy a home, and therefore, shouldn't be actually looking at homes in person (vs. browsing on the Internet or driving around).

I realize that it's easy to get excited when you are window shopping.  Many people window shop for things when they are not quite ready to purchase.  And there are lots of websites out there that have homes for sale.  I'm not trying to kill the American Dream here, or trying to burst your bubble.    But buying a home is different from, say, buying a big screen t.v. or buying a car.  You can't learn the ins-and-outs of buying a home on line.  You can't research specific homes because every home is unique, vs. finding a certain t.v., finding the place where it has the best price, and just going a buying it.  Buying a home is different.  You really need to understand the process before you start looking at homes.  It can be complicated and treacherous if you do not know what you are doing.  There are many mistakes that first-time buyers have made that they have regretted later: mistakes that have cost them time, money, and even the home of their dreams.  I know, there are plenty of agents who will "just show you homes" if that is all you want.  Just make a few calls, you will find them pretty easily.  Not to mention the fact that if you're just calling on listings on a website that some of the agents you are calling are working for the seller, and not for you.  But that's another story (see my previous blog postings).

Most agents are salespeople.  You want to "buy" a home.  They will "sell it to you."  Great, deal done.  Or is it?

I don't "sell homes," I educate people on how to buy homes.  I give them the tools they need so that they can make an informed decision when the time comes.  I take them through the process from A to Z in the very beginning, before we even look at a single home.  I give my clients an edge that other buyers don't have because I lay the foundation upon which everything else will be built.  My clients are savvy, educated and informed.  They come to me looking for someone who will educate them and guide them through the process of buying (or building) a home.  I am their guide, counselor and instructor.  And I am their advocate.

So, going back to my description in the first paragraph, I have a real challenge.  When I get calls and e-mails from people who are hot-to-trot I try to ask a few relevant questions and see if I can guide them back to a starting point, one that they have missed.  The first thing I ask them is if they are pre-approved with a lender.  If they are not, back to square one.  Why would you consider looking at a home if you are not even pre-approved?  No seller would ever see you as a serious buyer.  And frankly, neither would any agent worth their salt.  Regardless if a potential buyer is pre-approved, or not, my first goal is to get them to meet with me so we can go through the process and make sure they are in the best position to buy a home.  And if they say "no" and "well, I really just want to see this home"  that is usually the end of the conversation if I can't get them to come in and meet with me first.  At that point I know, for the most part, that they are not serious buyers.  If they can't spend an hour of their time learning about the most important financial transaction of their life then I really don't have time for them.  And they usually don't seem to mind.  They can always find an agent, one not like me, who will just "show them homes." 

So, if you are considering buying a home get your ducks in a row!  Become an educated and informed buyer first and you will be in the best position to buy the best home for you at the right time.      

      

The Life of a Realtor, Part 2

So, a while ago I wrote Part 1 about the life of  Realtor.  Time to write the sequel....

I had a good, steady job before I decided to get into real estate (read Rich Dad, Poor Dad if you want some insight on this).  But, for some reason,  real estate always intrigued me.  However, I come from a long line of "play-it-safers" when it comes to career choices and the like.  When I told my parents I was going to go into real estate back in 1995 they were a bit concerned.  My degree had nothing to do with anything even remotely related to real estate (at least it didn't appear that it did) and all my family saw was "risk."  Frankly, I wasn't too sure myself.  I've never been a huge risk-taker, either.  And diving into something that I had no experience in and working for 100% commission was, I admit, a bit scary.  Not only that, but the company I went to work for was brand new and neither the company, nor I, had much of a data base or a "circle of friends and family" to work with. But off I went, with my license and the kind of optimism that risk-takers have been known for.

They say police work is "hours of  absolute boredom punctuated by a few moments of sheer terror."  Real estate is kind-of like that.  I spend a lot of time just managing things, doing the day-to-day mundane things and then all of the sudden I get a call or an e-mail from a prospective home buyer.  Or one of my clients decides to make an offer on a home.  Granted, I'm not actually "terrified" of this kind of activity, but it does get things moving on an otherwise routine day.  And then, somebody wants to see a house, another client wants to make an offer, and a new prospect want to meet with me...all on the same day at the same time.  That's when things start getting exciting.  "Time management" takes on an entirely new meaning at that point.

I mentioned in Part 1 that Realtors have to wear a lot of hats.  I work with several clients at any given time.  It's important that I keep my documentation with my clients physically separate, but I also have to keep my clients separated mentally and emotionally from other things that are going on.  What do I mean by that?  Well, mentally, I sometimes get a conversation confused between clients.  And they'll hear me say "Oh, wait, that was my other client...."  Myself and my clients often have the same discussions and I can't always remember who I had that last discussion with.  I also have certain things that always come up when viewing houses but I sometimes forget if "WE saw that one house that had that thing" or if that was another client I was with....and "did I already tell you about radon, stucco issues, polybutylene plumbing, how to brace a foundation, how to treat for termites, roof venting issues" etc., etc., etc.  There is a vast amount of information that I'm required to learn and retain in order to be effective as an advocate. It takes time and energy just to remember what I've said and/or didn't say sometimes.  I do my best to treat all of my clients and individuals but I have a lot of conversations and know a lot of people.  That's what it's like to be in this business for so many years.

One other thing that presents a very serious challenge in my profession is what I call "switching gears," meaning, going from one conversation or event to another completely different conversation or event within minutes and trying to leave the first event in lieu of the second.  What exactly do I mean by this?  For example, sometimes negotiations can get very heated, even between myself and my own clients (which should never happen, but it does).  Psychologically, it's difficult to just "drop" something that's extremely urgent, important, and may be really weighing on one's soul.  But since I have back-to-back appointments sometimes I have no choice.  So a negotiation blows up and I have to head out to show houses.  Time to "switch gears" and leave that event behind so that I can focus on doing the job for my other clients, which means concentrating on showing them houses and answering their questions and focusing on their needs, not mine or my other client's.  Easier said than done sometimes, but I've learned to deal with this over the years.  Most of my clients never even know what goes on with my other clients...unless I share something out of frustration.  But normally I just go on my merry way...until I have to go back and try to resolve whatever happened earlier.  It's trying at times but also can be rewarding.

Being my own boss has given me a measure of flexibility.  Even though that's true, I tell my clients that I'm available "most of the time," meaning just about any time of the day or evening, seven days a week.  Sometimes I wonder if I should set boundaries because I know from experience that if I don't, even well-meaning clients will unknowingly take advantage of me.  I don't set a lot of boundaries because I want to be there for my clients.  However, that sometimes gets me in trouble. My wife doesn't understand why I come home from work sometimes and get right back on my laptop and go back to work!  And why I take calls and read texts at dinner, during birthday parties, during wedding receptions, during concerts, and even during church! (ringer off, of course)  I had a client call me once while I was at an OSU game.  I called him back and he said "I can't hear you very well" and I said "that's because I'm sitting in the stadium watching a football game." (halftime)  So he pauses, and says, "Oh, does that mean you can't show us a house?"  Yeah, that's pretty much what it meant.  Granted, most of my clients are nothing like that.  But my clients do want their needs met and they expect me to do that.  What's interesting is how my clients sometimes define "urgent" and how I define it.  Sometimes, honestly, it really can wait until morning.  I've had to tell clients, "Well, not much we can do tonight, so let's just pick this up in the morning."  At 10:00 p.m. on any given night there isn't much I can do if a deal is in danger of falling apart. Yet sometimes somebody will want me to try.  Every one of my clients thinks what they need is important, and it is.  But sometimes what this client wants/needs is more important than what another client wants/needs right now. Try explaining that to the second client.  :)

Every job and profession comes with it's own set of challenges, no doubt.  I just wanted to share some of what it's like to do what I do for a living.  I'm sure there is more....maybe I'll do a part 3.  One other thing that I've noticed about my profession over the years is that there are so many different types of people, with various backgrounds and education, that are in real estate. What's great is that this industry has room for me.  I surely can't complain about that!           

To Buy or Not to Buy?

One question that eventually comes up with almost every one of my clients during the home-search process is "should we make an offer on this house?"  In other words, what they are really asking is "is this the best we are going to find or should we keep looking?"  Once again, I have to dig out the crystal ball.....

The answer to that question has many facets.  Whether I tell a client "yes, maybe you should" or "well, maybe not" really depends on the individual situation. I never try to answer this question for my clients but I try to put the question in perspective.

Here are some of the variables that factor in that question:

• How long have you been looking?
• How many houses have you seen so far?
• How does this house compare to everything else you have seen?
• Does it "feel" like it could be the "right" one?*
• If you don't make an offer, what are your options?  Is there anything else out there that you like?
• Can you live with this one?
• If nothing better comes up will you be disappointed that you didn't try for it?
• Does it meet most of your needs and some of your "wants?"
• How long are you willing to wait for the "right" one if this one may not be exactly the "right" one?

There are many different answers to these questions and any given time.  It's really hard to ever say that a particular home is the "right" one.  You may never know that for sure, partially because there may be no right "one," but there may be several homes out there that will meet most, if not all, of your needs.  If you feel that there can only be one "right one" your criteria may be a little narrow.  If you are being realistic about your potential purchase you will probably find that there are usually a few homes that will work for you.  That is really the best position to be in.  If you think "that's the one!" and you end up not getting it everything else will pale in comparison and you'll never be satisfied with another home after that.  

I mentioned "wants" and "needs."  Drawing the line between "wants" and "needs" can be a challenge.  I try to help people realize that needs are more important, and that sometimes what we define as a "need" is really a "want."  This becomes pretty evident when you have a certain price point and you find, as a buyer, that your just not going to get all of your desires in your price range.  Things that were originally  "needs" sometimes become "wants" as you look through homes and take notes.  We all have to make sacrifices when purchasing a home.  Nobody ever gets all of their needs and all of their wants.  Like the old saying goes "you can't get a champagne house on a beer budget."   They key lies in making an honest assessment of your own wants and needs and in understanding the market in your price range (what can I get for my money).  If you can do that you will have a pretty good idea when a house might just be the "right" one for you, or at lease one that meets most of your criteria and that is a good value for what you are looking for.

So, is something better going to come along?  Well, that's hard to say.  Have listings been coming on the market that meet your criteria?  Is this the time of year where listings are increasing, or decreasing? Have you exhausted the list of all possible homes? Are you willing to take your chances that something better will come along?  Are you willing to loose this one in hopes that something better comes along?  Do you have realistic expectations?  That last one is really important one...and might be a discussion for another day.  That being said, hopefully my comments will help you answer the inevitable question "should we make an offer....or wait?"

So You Wanna Buy a For-Sale-By-Owner (FISBO)?

Being in the real estate business you can't avoid things like For-Sale-By-Owner properties, they are part of the territory. Also known as FISBO's (pronounced "fizz-bow'), one might think that they can get a bargain if they are trying to buy one of these properties. Unfortunately, that is not always true. Typically, in my experience, it's rarely true. What is true, however, is that people who try to sell their homes on their own and Realtors don't get along very well.

Almost everything in life comes down to numbers, or math, in some form or another. Such is usually the case for the seller who just wants to sell his home on his own. So why do people decide to try to sell their homes on their own? Because they think they can save money. That's pretty much it. For-Sale-By-Owners think they can cut out the listing Realtor, and possibly the buyer's agent as well, and save a bunch on commissions. But can they? And can a buyer get a "deal" on a FISBO? Are there other concerns?

First off, it's important to understand that homes are rarely sold in an arms-length transaction without the use of a Realtor. Why is that? Well, let's say the seller doesn't want a Realtor to list his home; he want's to try and sell it on his own. That's fine. However, almost all buyers, the savvy ones anyway, have their "own" agent, a buyer's agent. Rarely will buyers undertake such an important transaction without having someone to guide them. Why should they? Why would they? Considering that buyers rarely, if ever, have to pay their agent, why wouldn't they engage the services of a knowledgeable buyer's agent? Well, they would. So, what
normally happens is that these buyers are paired up with a buyer's agent and either the agent, or they, come across a FISBO. What now? As I said, buyers don't normally "pay" their agent. This is because in most situations a buyer's agent's fee is included in the price of the home, paid (shared) by the listing agent, for any home that is listed on the MLS (multiple listing service). So, you have a situation where the seller, in this case, is not a Realtor (agent). That means the FISBO seller has no agreement to pay any fees (or commissions) to anybody. However, will buyers look at a FISBO knowing that their agent may not get paid? Will buyer's agents show a home if they are not going to get paid in the end? Can you see how complicated this can get?
In reality, most FISBO sellers will agree to pay a "buyer's agent," they just don't want to "list" the house and pay "full commission." Most of them are aware that if they don't offer a fee to the buyer's agents it will be difficult to get showings and difficult to sell. So typically FISBO sellers will say "Realtor's welcome," or "will co-op," both of which mean that they are willing to pay the agent who is representing the buyer. So in essence, they may save partial commission, the commission that they didn't pay the listing Realtor. So is this a good deal for a buyer? I mean, if the seller doesn't have to pay a "full" commission, they will sell the house for less, right? Hardly. Did I mention that most FISBO sellers are  mostly motivated by money? 99% of the time if a buyer purchases a For-Sale-By-Owner the seller just pockets the extra commission they saved by not paying their own Realtor. Savings rarely get passed on to the buyer. So where are the savings to the buyer? Typically, there aren't any. In addition to not getting a discount from a FISBO purchase, sellers who attempt sell on their own notoriously over-price their homes. They always think their houses are better than the ones up and down the block. And occasionally they have some strange ways of coming to their asking price. Rarely does a FISBO seller accurately price their home due to lack of understanding, lack of knowledge, or just plain stubbornness. Ultimately, these homes are NOT a value for a buyer. And along with over-valuing their homes and being overly -thrifty (read: cheap), they usually do not understand how to negotiate a sale and they also rarely budge on their asking price. (Note: many FISBO sellers are not very motiveated to sell, either).  And some FISBO sellers seem downright paranoid that some  pesky buyer's agent is trying to get his clients, the buyers, a fair price on a home. That doesn't seem to resonate with most FISBO sellers that I've encountered. In the end, if the sellers save a few bucks on commission and sell for what they want, don't they save money? Isn't that goal in the first place?

Well, the answer is really "no." The main problem with true For-Sale-By-Owner homes is that they aren't marketed very well, if at all. Even with the internet it is difficult to find a For-Sale-By-Owner home, even if you are looking for one. These sellers are competing with the marketing power of thousands of Realtors in their local market. The bottom line is that buyers rarely find these properties. And that means they sit on the market, and eventually they end up being listed with a Realtor anyway. I would guess that 90% of homes that try to go FISBO end of being listed eventually (I read that stat just today). That means that the seller will now have to pay "full" commission anyway. And what about all of the lost market time, where the house just sat? It seems like, to me, that FISBO sellers who eventually list with an agent do so after six to twelve months. That's more mortgage payments, more upkeep, and potentially missed opportunities to buy something else because you couldn't sell your home fist.
In the end, there are rarely any savings to be had if you are a buyer considering buying a For-Sale-By-Owner home. But if you must buy one, proceed cautiously, know the value, and make sure you have a buyer's agent!

The Life of a Realtor Part 1

Back in 1995 a friend of mine told me he was going to open his own real estate company and asked me if I'd be interested in coming to work for him as an agent. I had no real experience in the real estate field and not really any experience in "sales." But I was interested in houses, how they were built, how neighborhoods were put together and I liked working with people. I liked watching HGTV. So I made one of the few really risky moves in my entire life, against the advice of a few others. I went to real estate school, got my license, quit my comfortable, secure job with the county government, and went to work for my friend at his brand-new company. And I stepped out into the world of working for one's self and humping for commission.

My conversation with my friend, who eventually became my broker, was over 16 years ago. Initially, I thought a career in real estate would be a "good opportunity" but likely just be a stepping stone to my next "career move." I honestly never thought I'd be in this business this long. And it appears that I'll be sticking around for as long as the economy allows. For the first ten years in the business I learned and honed my craft and became a successful agent for my friend's company. And for over five years now I have been the broker and owner of a successful (non-franchise) real estate company, with no plans to do anything else any time soon. I pretty much started the company from scratch and made it work.

I remember asking my friend "what's a normal day as a Realtor like?" To which he said "There is no "normal" day in this business. Every day is different." So I pressed him, "Well, what do you do all day?" He Said, "It depends. Every day is different. Some days I'm out showing homes, some days I'm in the office doing paperwork. It just depends." That answer left me with more questions than answers. Eventually, as I got my wings as a new agent, I learned what he meant. No day is ever the same.

The nice thing about being a Realtor, especially if you are the broker/owner, is that you can pretty much do what you want, when you want. Now before you rush out the door to sign up for your classes, there are limits. You really can do what you what when you want. However, if what your doing and when you are doing it isn't leading to any income you soon find that there are limits to how you do what you do. What you can do, what you have the freedom to do, is find a way to be successful. You have the ability to be creative and find ways to make things work for you. You have the ability to be your own boss, to make decisions completely by and for yourself, and to also reap the rewards of those decisions, or suffer the consequences. And if you step out to try an idea there is probably a better chance that it won't work than it will. So you dust yourself off and try something else. It's a pattern I have repeated over the years. Find what works by trial and error. And then when find something that IS successful, don't sit on your laurels. Find something else that works as well. But try something, try anything. And remember the old adage: it takes money to make money. If you don't believe that then you wouldn't make it in this business.

But I digress. So, every day is a little bit different. Some days are scheduled and regimented, others allow more flexibility to catch up on paperwork, work on some marketing, go buy office supplies, or catch lunch with a lender or a friend (or both). Some days start at 8:00 a.m. and end at 10:00 p.m. Many times I've left the office after everybody in my building is gone and the crickets tell me "goodnight." When it's busy it's not uncommon for me to eat dinner after my kids are in bed and most of the day is gone. Some days I put it 8 hours of work but it takes 12 hours because I squeeze in other things: personal appointments, kid things, stuff like that. Sometimes I'll work most of a day, go see my daughters' (x 2, same team) soccer game and then go back to work. Sometimes I'll work in the office all day, go home at dinner time, and then work in my home office for a while. Some days I'm on showing appointments or home inspections most of the day. Other days I have appointments in and out of the office so I come and go. Once in a great while I'll take the afternoon off an just go goof off. Don't worry, I always make up for it later.

Some days all I do is work on client files and get caught up on contract issues and paperwork. Other times, like now, I'm caught up on that stuff so before I have to leave for showings I work on my blog, or my company Facebook page, or I revise some document I use or I create a new document of some sort. On the days that I'm caught up on client files the sky is the lim it. Sometimes I'm extremely productive, sometimes I'm not that motivated. Remember: I can do what I want when I want. And since I'm my own boss I sometimes don't feel like working! YouTube comes calling and I zone out for a while. But usually just for a while and it's back to work.

Realtors don't have "normal" hours, either, or "normal" days off, for that matter. We are expected to be available from sun up to sun down (and then some), seven days a week, to service our clients. Now, it's not always like that, and every client isn't overly-demanding. But the industry has created a model that basically says that real estate business goes on seven days a week. We do not have "business days" like other people have. We're like doctors who are on call and all of our clients are like patients. We need to be there for them. But it's the sacrifice we make because we believe in what we do and we enjoy our careers. Holidays, you say? Well I normally get Christmas, Easter and Thanksgiving off. But I've probably worked every other holiday at one time. I've negotiated contracts on Christmas eve, shown houses on labor day, and met a client on the 4th of July. A few years ago I even stepped away from my daughters' birthday party to negotiate a transaction with the other (impatient) agent. I won't do that again.

Being a Realtor, and especially a broker/owner means I have to wear several hats. I am a counselor. I counsel people on their decision about buying a home. I help them understand the financial implications of owning a home as well. So I know a little about lending and investing. I also have to constantly negotiate contracts and home inspection issues so I'm a negotiator. I have to try and understand people and sometimes predict how things will turn out so I'm bit of a sociologist, psychologist and a soothsayer! As a broker, I have to manage the business, make financial decisions, pay bills, and clean the office. And I have to be familiar with any legal changes that affect real estate and keep up on industry trends. I also have to train my agents occasionally.

I have to stay up on technology because our industry is very technology-driven, when you consider the information that is out there on web sites and the "speed" at which things move these days. I also stay sharp on home construction because I need to know what I'm looking at when my clients and I are considering potential homes. So I'm a bit of a home inspector as well.

In some ways, my most important job is to be a captain. I help people make their way thorough the sea of home buying, trying to avoid the waves, and give them a safe, comfortable, and memorable journey. And I do that while trying to make sure we don't get boarded by the pirates of bad experiences or sunk by cannonballs fired by resistant sellers, bad home inspections, or bad lenders. It's quite a job, if you ask me. In the end, though, we are normally sailing into the sunset on a bed of calm waters.

Stay tuned for more in the life of a Realtor.