Quarter of a Billion or Half a Billion - Big Numbers

2015 Sales in West Central Ohio Almost $250mil

The Realtor members of the West Central Association of Realtors based in Lima, Ohio have finished 2015 with a total sales volume of just under $200 million.  That is getting close to the Quarter-of-a-Billion mark and if activity and market values both continue to increase then it could easily be expected that this group will finally attain the $250mil number sometime in the next 3-5 years.

Estimates show that there is in excess of $4 billion in residential real estate in the area.  This is based upon the population divided by the average number of persons per household per the Census Bureau and using the current average sale values found the in the MLS of the West Central Association of Realtors.  Currently, using this same averages math, we are buying and selling 2.7 of every 100 residences in the area.  To get to that $250mil volume without changing values or population averages, we need to sell 3.1 of every 100 residences. 

2015 Sales for BHHSPro exceed $600mil in Ohio

Although the final numbers have not been announced, Berkshire Hathaway HomeServices Professional Realty (BHHSPro), a franchise operating in over 22 office throughout Ohio, the preliminary sales reports are showing sales of around $660 million.  

With 400 agents, only a few more than the 300+ in the West Central Association of Realtors, BHHSPro has an average per agent sales volume that is 3X that of our Lima area agents.  As a group, BHHSPro agents account for the 5th most residential sales in Ohio when compared to all other groups of Realtors.  Pretty impressive for only their 2nd full year in business.

High Expectations from BHHSPro Brokerage

The leadership of Berkshire Hathaway HomeServices Professional Realty has stated with confidence that their intentions are to exceed $1 billion in volume over the next 3-5 years.  That's a bunch of sales.

So, from my point-of-view, the race is on and I get to be a part of both of them - West Central Association of Realtors' agents topping a Quarter-of-a-Billion dollars versus Berkshire Hathaway HomeServices Professional Realtors agents topping One-Billion dollars in volume.  

This should be fun.

I Signed with An Agent, Now Where'd They Go?

You want to move and need to sell your home first.

You met with a real estate agent and quickly became convinced that they could expose your home to the market and find a buyer faster than you could on your own, so you signed a contract.

It's been 5 weeks and you still haven't heard anything from the agent.

Your wife is still asking nicely, "What are you going to do about this?"

You've overheard your mother-in-law say, "I don't know why you're having so much trouble, the Rhineharts sold their home themselves in 2 days and got a lot more than anybody thought they would and now they just bought their second vacation home, and ..., and ... . If you would've ..."

One or more idiots you work with asks everyday, "So did you sell your house yet?"

This is not an uncommon situation in the market that I work in; even though it should be.  Real estate agents, especially those of us with the Realtor designation, are supposed to be committed to the promotion of the best interests of our clients, the profession, and the ideals of home ownership, but some are not. 

Situations that create frustration for home Sellers happen all the time.  It should not be that these situations are created by the actions or inaction's of real estate agents.  Even a half-capable agent should keep consistent contact with their active clients.  Good agents set the expectations of communication with their clients way in advance and then meet, and usually exceed, these expectations thus eliminating the added frustration of the Sellers' not knowing what is going on.

For those of you who do find yourself in the above scenario, or anything similar to it, there are some actions that you can take.

1. call, text, and e-mail your listing agent a specific day and time that you expect to hear from them.
2. if you do not get a response: call or e-mail the broker or office manager of the company that you listed with.
3. if still not satisfied then you can contact the local real estate board and issue a complaint.
4. now that you have gotten the complaining off your chest, you can contact any other real estate company to discuss your situation.

Please don't blame the entire industry for the actions of a single representative.  We all work hard to represent the interests of our clients every day.  Do you really think that we just want to put a sign in your yard and then hide from you?  We want you to sell your home for the highest market dollar possible, in the shortest amount of time possible. Period.

I have heard that some upset sellers go FSBO (for-sale-by-owner) and refuse to ever work with an agent again.  They believe that nobody cares because nobody is seeking to fix their problem.  We all want to help BUT, since you signed with an agent we are NOT ALLOWED to seek you out.  We are allowed to speak with you if you seek us out.  Don't go all FSBO, it ends up taking a lot more time and money to sell that way and 85% of the time you will end up listing with an agent again anyway. 

To re-cap:
Try to get ahold of the agent you signed with.  Try to work things out with the Brokerage that you signed with.  Go ahead and complain where it counts.  Talk to other industry professionals about your situation.  Tell your wife what you're doing (she loves you taking control), your mother-in-law that you love her even though she's full of it, and the idiots at work to pluck-the-plank from their own eye.

Let me know how it's going.  I specialize in frustration.