Real Sage Advice

Know Thy Realtor

Never has it been more important to know your REALTOR's qualifications and to remember you are hiring thim/her to take care of your most important transaction.  Most employers will tell you they hire based on two things; (i) qualifications (ii) fit with the company.  Why wouldn't you do the same thing? Hire someone based on their qualifications and what they can do to help you accomplish your goals, and someone you "click" with. Here are some interview questions to get you started:

Interview questions for your REALTOR^®

§         What is your marketing plan to sell my house?  Will there be ads in the paper, open houses, mailings, internet advertising?  (THIS IS THE MOST IMPORTANT QUESTION!)

§         What is your experience in working with seniors?  What services can you offer that are different than what other agents might offer me?

§         What steps will you take to make sure the buyer is qualified? How will you make sure we close on time?

§         How often can I expect communication from you about the progress of selling my home?  What kind of regular reports will you provide to me?

§         How can I present my home in the very best light to potential buyers when they come to look at it?  What kinds of improvements will you suggest I make to my home? Will you help me stage my home?

§         Can you provide me with referrals to professionals who can help me with the above mentioned improvements?  Can you provide me with a referral for someone who can help me with moving?

§         Do you have references?

§         How do you get paid? (Real estate agents are used to discussing commission and should be willing to describe to you how they get paid). 

§         You’ll also want to understand how much commission the buyer’s agent will get for your property as well.  After all, that is an incentive for them to bring buyers to look at your home!

§         Do you work full-time? Do you work by yourself or with a team? Who is my contact person?

§         What will my expenses be to sell my house?  What will be my “net” after selling my home?

§         What course of action should I take if there is something with which I’m not satisfied?

Never has it been more important to know your REALTOR's qualifications and to remember you are hiring thim/her to take care of your most important transaction.  Most employers will tell you they hire based on two things; (i) qualifications (ii) fit with the company.  Why wouldn't you do the same thing? Hire someone based on their qualifications and what they can do to help you accomplish your goals, and someone you "click" with. Here are some interview questions to get you started:

Interview questions for your REALTOR^®

§         What is your marketing plan to sell my house?  Will there be ads in the paper, open houses, mailings, internet advertising?  (THIS IS THE MOST IMPORTANT QUESTION!)

§         What is your experience in working with seniors?  What services can you offer that are different than what other agents might offer me?

§         What steps will you take to make sure the buyer is qualified? How will you make sure we close on time?

§         How often can I expect communication from you about the progress of selling my home?  What kind of regular reports will you provide to me?

§         How can I present my home in the very best light to potential buyers when they come to look at it?  What kinds of improvements will you suggest I make to my home? Will you help me stage my home?

§         Can you provide me with referrals to professionals who can help me with the above mentioned improvements?  Can you provide me with a referral for someone who can help me with moving?

§         Do you have references?

§         How do you get paid? (Real estate agents are used to discussing commission and should be willing to describe to you how they get paid). 

§         You’ll also want to understand how much commission the buyer’s agent will get for your property as well.  After all, that is an incentive for them to bring buyers to look at your home!

§         Do you work full-time? Do you work by yourself or with a team? Who is my contact person?

§         What will my expenses be to sell my house?  What will be my “net” after selling my home?

§         What course of action should I take if there is something with which I’m not satisfied?

You know, Do your parents? Identity Theft.

The number amount of fraud committed against seniors continues to be disproportionate to the rest of our population.

We hear about this information all the time and most of us consider ourselves to be fairly wise consumers.  I certainly thought this.  I happen to be talking with my parents about this and told them I used to carry my social security card with me, and now I now I keep it locked up.  They both got very quiet and I asked them...are you carrying your social security card with you?  Sure enough.  Reveiw this checklist for yourself, and then do it with your parents.

1. Don't carry your Social Security card with you. Keep it in a safe place at home.
2. Don't carry automotive insurance policies or car registration in your car.
3. Hang on tight to your purse (dangling it from the back of the chair in a restaurant is a no-no.,   and carry a purse that zips and keep it zipped shut!)
4. Burglar-proof your home, and keep your important documents and financial records locked up.
5. Never write down passwords or carry them with you.
6. Don't give out your financial or personal information over the phone or Internet unless you initiated the contact.  This last week alone I've had 4 emails from credit unions and banks that said they had to freeze my account until I updated my information with them.  Which, I would be glad to do IF I HAD AN ACCOUNT WITH HTEM!  I just deleted the emails.
7. Give out your Social Security number only when necessary.
8. Each of the three credit reporting firms will give you one free credit report per year.  Look at your report at least once per year, if not every 6 months.
9. Invest in a paper shredder. Shred all financial statements, billing statements and even that preapproved credit card junk mail. 
10. Minimize the number of credit cards you carry with you.
11. Cancel credit cards you haven't used in the last 6 months (although if you've had some of these open for a long time, you'll want to consider the impact this might have on your credit score).
12. Review all of your financial statements every month for unfamiliar charges.
13. Get your name taken off direct mail lists. Write to:

Direct Marketing Association

Mail Preference Service

PO Box 643

Carmel, NY 10512

We won't ever be able to prevent crime 100%, but we can protect ourselves, and make it more difficult for the thugs to steal from us.

Consumer Beware

I attended a closing last Friday during which the buyer's mortgage officer asked me if my job was getting tougher with all the "internet stuff" out there. I said "no, why would you think that?" She said because people were able to get their own information they would be less likely to need me.  I assured her I do more than offer information to people.  If anything, I've had to add another facet to my job...to re-educate people who get faulty information from the internet or from the media. The biggest danger from the "internet stuff" is for people to get inaccurate information and then use it to make a major life decision!  Believe it or not, you can't believe everything you read on the internet!  The more information we have as consumers, the better decisions we make. As a REALTOR the more in control my clients feel,and the more accurate information they have, the better they feel about their decisions, and the better I look!   

Don't vote on November 7th.

How many times have you have taken advantage of your right to vote, stood in line, tucked yourself behind the curtain, with pencil in hand, ready to cast your vote, and only recognized 2-3 names on the ballot!?! On November 7th, Don't vote. Don't vote until you know where the candidates stand. This is a new advertising campaign you'll see from AARP.  You can see the AARP commercials, find out which district you live in, who your candidates are, and where they stand on the issues that are important to you at http://www.dontvote.com.

Can you remember?

CAN YOU REMEMBER?

1. Candy cigarettes?

2. Wax coke-shaped bottles with colored sugar water inside?

3. Soda pop machines that dispensed glass bottles?

4. Coffee shops with tableside juke boxes?

5. Blackjack chewing gum?

6. Home milk delivery in glass bottles, with cardboard stoppers?

7. Party lines?

8. Newsreels before the movie?

9. P. F. Flyers?

10. Butch wax?

11. Telephone numbers with a word prefix ? (Drexel-5505)

12. Peashooters?

13. Howdy Doody?

14. 78 RPM Records?

15. S&H Green Stamps?

16. Hi-fi's?

17. Metal ice cube trays, with levers?

18. Mimeograph paper?

19. Blue flash bulbs?

20. Beanie and Cecil?

21. Roller skate keys?

22. Cork popguns?

23. Driveins?

24. Studebakers?

25. Wash tub wringers?

Now add up your score If you remembered 0 to 5, you're still young If you remembered 6 to 15, you are getting older. If you remembered 16 to 25, well, let's just say you're mature.

Fall-A time for taking inventory

There are many different kinds of sandwich breads- the crispy thicker breads such as sourdough or bagels, and the white mushy stuff with little nutritional value (think WonderBread).  The sandwich generation is resting on the soft plyable squezzeable and smushable WonderBread.   Squished between the demands of aging parents, and boomerang children staying at home longer, the sandwhich generation is being pummeled from all sides for both time and money. The Sandwhich generation will likely live longer than the generation before them, and will define for future generations types of housing and health care that will be available. The kinds of options you have available to you depend on two things. Your health, and your finances.  The key is to plan. 

Below is a checklist to help you and your parents plan for your healthcare and for emergencies. First, do these things for yourself.  It's an invaluable learning experience you can share with your parents and your immediate family will thank you!  When you're done, work with your parents to help them get their legal and financial houses in order.

1. Once we enter our 60's we should be taking a look at long term care (LTC) insurance. Typically, the sooner you buy it, the more affordable the premiums will be.  I dislike insurance as much as the next person, but in this case, ltc insurance will give you options.  What price would you put on having options for your health care that give you a sense of dignity and community?   One tip, make sure you read the fine print.  Understand if your policy offers home health care, and under what circumstances your eligible for benefits.

2.  Three important documents we all need to have. First, is a document called 5 wishes.  This is a health care directive that is recognized as a legal document in Minnesota.  It's hard to imagine all of the possible scenarios under which we would need to call on someone to make health care decisions for us.  The 5 Wishes workbook walks you through possible scenarios and is very helpful in helping you define how you'd like to be treated if you were incapcitated.  It's very helpful for your health care representative to have this document so *YOUR* wishes can be carried out.  Second, get a durable power of attorney!  If you or your parents become disabled, you'll want someone to handle your bills and finances.  A durable power of attorney gives the person you name the authority to make financial decisions.  Make sure you pick someone you trust.  Third, make sure you have a will.  In Minnesota, by law, we all have a will.  However, you may want to have more control over how your assets are dispersed. 

3.  Take inventory of your assets and put the information in one safe place, and then make sure your power of attorney and health care representative know where to find them.  Index your bank account numbers, social security number, stocks, insurance policies, emergency contact numbers, 5 wishes document, wills, medical records, etc.

4. Work with an elder law attorney. At some point you or your parents may decide to sell your home and downsize, or move to a senior community.  *BEFORE* you list your house with a real estate agent, you should be talking with your estate planner. You will be liquifing a large amount of cash when you move.  You'll want to know how you can minimize taxes, as well as plan for retirment and health care with those dollars. You'll want to protect your assets and your family with proper planning.