| June 11, 2002 |
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Ray Brown, co-author of Homebuying for Dummies, Hungry Minds, and the just-released second edition of Houseselling for Dummies, Hungry Minds, is a 62-year-old career real estate broker who with his partner Eric Tyson, a Stanford MBA, writes consumer-friendly books about buying, selling and getting loans for homes. The Dummies franchise is all about enabling consumers to perform tasks such as buying and selling a home by learning how to make use of the authors' insider knowledge about how these industries are run. They also teach consumers how to choose professionals, and how to avoid unscrupulous or incompetent professionals. The advice in the books is a quick, fun read - with glib, hey-I'm-on-your-side jabs aimed mostly at service providers, giving readers the belief they are being put totally in control - hence the appeal of the franchise. Homebuying for Dummies has sold 400,000 copies. Houseselling for Dummies has 100,000 copies in print. If you have never read the books, wouldn't it be useful to know what these guys are telling consumers about real estate professionals? After all, according to the 5 million homes plus sold annually, the Dummies franchise could be influencing as many as one out of ten real estate consumers. If you were able to meet their criteria for a "good agent," you might be better prepared to serve the Dummies-empowered consumer. Despite the do-it-better-yourself appeal of the franchise, Brown maintains that his books are not about side-stepping or devaluing real estate professionals, but are designed to give consumers more confidence and control. In Houseselling For Dummies, he points to Chapter 7: Your Real Estate Team, where the real estate agent and broker are positioned along with property inspectors, escrow officers, financial and tax advisors and lawyers, as part of a homeseller's real estate team. "I take it one step further and suggest that readers use a good agent," says Brown. What constitutes a good agent, according to Dummies? For consumers, good agents:
Some of the requirements are due to some of Brown's pet peeves. "There should be a clear designation of people who are part-time real estate," Brown grouses, "and they should be treated the same way people who have a learners' permit to drive a car are supervised. Like you have an adult in the car, part-time agents should have a full-time agent supervise." Dummies goes on to suggest that consumers interview agents by asking the following questions:
These are questions that would make a good blueprint for a listing presentation, and any good agent should be able to answer them without going on the defensive. In fact, the answers could be a good offensive. But the agent has one talent that even the most FSBO-oriented seller does not have - the ability to correctly price property. "The greatest value you get from a real estate agent is the negotiating of the property, to know the value of the property," advises Brown. What does an agent need to know to be an expert? "Quoting the number of bedrooms and square footage because you are a member of the MLS doesn't make you an expert," says Brown. "Agents need to tour the properties that are comparable to the ones a consumer wants to list or sell - see the condition of the property. No two houses are comparable in terms of size and condition. I've worked with agents who know their neighborhoods house-by-house who can describe who owns it and who owned it before." "As a broker, I insisted my agents go on tour. You have to know the comps because the most important question you will ever be asked is 'What is the property worth?' If you can't answer that, what good are you?" |
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