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Office update (my apologies for lengthiness but hope you will read in it's entirety)..

posted Jul 16, 2018, 4:55 PM by Brian G. Walsh   [ updated Jul 16, 2018, 4:55 PM ]
Good day All:

Barb's last day was last Thursday.  The front desk will be handled like normal with business hours of Mon-Fri 11a-4p.  Please keep things going to the front desk email address and don't send to me as I have much to do on both fronts and need to keep separate.  If you happen to know that you will be listing a property and can forward the address to the front desk in advance it will help in staying ahead of the curve.  I have set up my hiring machine and will be placing some ads pointing toward it this week.  There will be two positions available to fill.  While working the front desk I plan on cleaning up our systems and streamlining as much as I can so when I find the proper hires it will make it that much easier to get them trained and up and running.

Contingent vs Pending.  At our last meeting I mentioned doing away with using the contingent status and just using pending to simplify our systems and take unnecessary steps out of the process and there did not seem to be any resistance.  I contacted the MLS and we are not required to use contingent.  When the listing is in contingent status it continues to accrue market time while when pending the clock stops.  Under contingent we are required to state what the contingencies are which I honestly feel is our business and not that of outside agents.  Also, when the listing is contingent if it happens to expire it goes in to expired status while when pending it goes in to pending/expired status and we can still mark as sold once it closes.  Lastly, in my experience there really is no difference in how the listing is viewed in the MLS, it seems whether it is pending or contingent showings stop and if there is genuine interest a call will be made under both statuses to see if there is a chance of it being available again.  I am not insisting that we do this just suggesting in an effort to continue to simplify our processes.  I have not used contingent for a few years and it is nice to put it in pending and forget about it.  If I don't hear from you I will assume you are okay with using pending status only moving forward and if not I am happy to hear your thoughts.

One of our agents was recently approached by an out of state buyer who wanted to make a cash offer on one of their listings sight unseen.  Without getting in to all of the details it was discovered that it was more than likely a fraudulent attempt to purchase and while I don't have a clear understanding of what they were trying to accomplish because it never got that far I am putting you on notice.  Should you receive an inquiry to this effect please contact me to discuss.  It is not unheard of that someone would do this, especially in todays market, but it is rare and so it is deserving of special attention.

Escalation clauses and language in contracts to this effect.  I have made mention of escalation clauses in the past and my discontent with them and asking that you please contact me should you be presented with one that your seller is considering.  I recently attended the OAR Legal Update and they discussed them and the problems involved with them along with potential litigation issues.  Please get with me should you receive an offer with these terms so we can put our heads together and amend the counter-offer and remove it.  Nothing needs to be said to agents prior to offers being submitted as the escalation clauses are telling but we are best not entering in to agreements with these terms included.

As you are well aware, I am way behind on getting our new purchase agreement in to circulation.  My apologies.  It will be a time before I get to it but it is on my to do list and eventually will get done. 

As always, please let me know if you need anything.

Thank you,

BGW