Open House 3476 Akala Drive 3/24/12

     A week before you set up an open house you need to let the seller know the date and time that you will be showing their house and also make sure they won't be at the house at that time. We sent out flyer to the neighborhood, and also called family and friends and other realtors to come visit the open house.
     While I was sitting at the open house with my mom I listened to the way she talked to people, I noticed that she was very prepared with the questions she would have to answer, and confident in what she new about the property and other properties around the area. This is important because even though the buyer is not interested in the home your showing, they could become potential buyers for other homes that you could help them find.
     I learned that you need to be very prepared with information on the property and other properties because the buyer may want to know what other active listings are around in the area because they might be interested in something else.
     

Representing a Buyer.

     The first step in representing a buyer is to preform a Competitive market analysis or CMA, to determine the value of a property. The factors you want to check up on, are the homes current value based on the value of comparable properties, regional housing inventory levels, and the competitive nature of your current marketplace. This will help your clients come up with a reasonable price decision and help you to counsel them as they make a competitive offer.
     Once your clients have a competitive price to offer, the representer should properly prepare a contract that will be presented on their behalf to the sellers. For many people a home purchase will be one of their biggest purchases they will make in their lifetime. The purchase agreement you write must protect them by addressing every issue – the price being offered, the items to be included in the purchase price, the amount to be deposited, the closing date, the date the offer becomes null and void, and any condition that accompanies the offer, including contingencies based on the outcome of inspections, approval of financing, and personal property transferring with the sale or other issues.
  

Caravan 3/3/12

     On this day I went on a caravan with my mom to Hana, we looked at about 10 houses in the area. This was pretty much an all day event. Basically a caravan is inviting all brokers and real estate agents from companies, to see the new listings that they may have potential buyers for. After all the realtors have seen these properties, then it will be advertised and open for the public to look at.
     I had a good experience going on caravan, I met a lot of people and got the full experience of some of the things realtors have to go through. I learned about the different properties compared to others, different price ranges. The price range depends on how big the property is and the living and lot square footage. Most of the properties that we looked at had lots of land, and were very hidden in areas of Hana that I've never been too.

These are some of the properties we visited.

Taking a Listing/ Representing seller

These are the main steps of taking a listing.

• Seller agrees to sign listing agreement.
• Go over with the seller the property to be listed like any special features, up grades, remodels. Also recommend to the seller areas that will improve the property to sell.
• Prepare all documents for the seller to sign and agree to have company represent and pay commission.
• When all the paper work is signed, submit to your company along with Maui Board of Realtors data input to go on public website to be advertised.
• Post for sale sign on property with flyers.
• Make arrangements to have brokers open house with escrow company.
• Arrange open house and advertise in paper and public websites.
• Accommodate if there are tenants on property for showings.
• When an offer comes in help seller advise and negotiate.

How to Prepare for a Open House.

These are the main important things you want to be prepared with before you set a date to have an open house.

• Advertise in newspaper.
• Print out/ Prepare fliers.
• Have information on the property.
• Have real estate magazines available.
• Print out active listing and sold listings in neighborhood.
• Guest book.
• Open house signs.
• Send out postcard of your open house to the neighborhood of the open house.
• Advertise on the internet.
• Call friends, family and other realtors to come to open house.
• Have available water or snacks.
• View listing, view house, talk with the seller about special feature about the house.
• Know your inventory in the area.
• Have your business cards available to pass out.

Buyers who walk in usually don't buy the house your showing, but they become potential buyers.

Looking at new condominiums. 1/27/11

     This weekend my mom and I went to the new condominiums in Lahaina called Ho'onanea. We Looked at four different models/ floor plans. I thought that the models were pretty nice. I liked how the complex was bulit. The location is pretty convenient, because the mall and beach are just across the highway. Each condo is about 919-1,395 square feet of living area. The price range is in the 300,000.
     My experience this weekend looking at these new condos went well, I learned a lot about the financing options and payments, and got a better understanding on how buying a house really works.

New internship

     My internship has currently changed due to situations at the Maui Food Bank. I am now interning with my mom doing real estate. I have already began to learn the Paragon website every realtor uses. This website shows all the current listings, properties, and comparing prices. I also am working on making my mom's website, which includes information about herself, property listings, and anything she is involved with.