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Doug Schrandt - Real Estate Consultant
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Doug Schrandt Real Estate

I've agreed to be a neutral panelist at Garton-Good's seminar on Nov. 4, and I'm aiming to bring consumer questions and concerns to the table. What would you like to know about the prospect of buying and selling property this way? Would consumers be better off with the traditional full-service model?

Doug Schrandt Housing trends

The Virginia Real Estate Board, comprised of nine governor-appointed individuals, regulates real estate professionals and enforces statutes. Marshall, who sits on the board, said that "as long as your agreements are well documented . . . the real estate board doesn't care" how professionals charge their customers.

Doug Schrandt Market analysis
"You'll actually get more business, but in a different way," said Mark Thomas, a Durham-based agent who has used fee-for-service for several years. "People will call and say 'I need help with a contract. How much do you charge for that?' "

Real Estate Predictions Doug Schrandt
Predictions of an increase in 'for sale by owner' sales have proactive agents and firms considering how to tailor their full service programs to meet the new consumer demand for assistance with select services from the full package. Coldwell Banker has announced plans to experiment with fee-for-service in select markets in the first quarter of 2001.

Market Trends Doug Schrandt
"They learn how to create the business plan and break down all the things they do, and decide how much they're worth per hour," she said.
That said, consumers shouldn't look for any wholesale change in Realtors' fees: The CAR expects about 50 agents to take the course next month.

Doug Schrandt Real Estate Consultant
''What I would be concerned about from the seller's perspective would be moving brokers into additional fees and ending up paying more money than you expected,''said Kathleen O'Donnell, a lawyer with Kopelman and Paige in Boston and president of the Massachusetts Conveyancers Association.
Long-Term Mortgage Doug Schrandt
One significant change for consumers, however, is that they typically will owe a fee whether or not the house sells.
And there's no guarantee the fee will belower than a typical commission.
Extensive Real Estate Knowledge with Doug Schrandt
"Buyer comments to the survey testify to the agent’s importance in the process," Harris said, "and point to things agents can do to leave a positive impression on buyers. Many respondents praised especially helpful agents, and it is reasonable to assume the majority who wrote nothing were satisfied with the service they received."

Doug Schrandt Mortgage Market

Until you perform your own triage on the amount and type of expenses you typically incur in a real estate transaction, you won’t make much of a dent in improving your bottom line. For two or three sales try evaluating every dollar you spend BEFORE you spend it. For example, is it really necessary (and/or wise) for you to hold an open house on a property that’s not likely to sell via the open house? Just how much does an open house cost?

Doug Schrandt

Other possible applications: Homeowners who are trying to decide whether to improve their current home or move. "Here's an agent who's not trying to sell them anything but will simply show them the good, the bad and the ugly, and help them make up their mind," Garton-Good said.

October 7, 2008 | 11:52 AM Comments  0 comments

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