Searching the Sequim MLS for homes and land (and Port Angeles MLS) on the Internet has made the gigantic challenge of finding the right home, filtering through the maze of listings (over 800 homes in our MLS) so much easier than it used to be.   Does anyone else remember the old printed MLS books?   They were about 250 to 350 pages thick in 10 point Helvetica and organized by area and then by price.   There was no easy way to search by parameters (bedrooms, square footage, acreage) and get an instant list of qualified homes.   But you can do that on the Internet now, and you can do it in a matter of seconds.

Technology has take giant leaps forward in the past three to seven years, and you are the beneficiary.   Some of my friends in the print newspaper business and in the print magazine business have gotten the short end of the stick in these shifting times, but consumers like you are coming out ahead.

What a difference a few years can make!   Thirty years ago traditional print media was the way to advertise and the way to find real estate.   Today, the Internet and the many tools available on the Internet, have left the old behind.   Thirty years ago this snow machine seemed like a modern marvel.   Who would think of trying to drive it today to get somewhere?   Why not use modern technology to help you find your next home?

You can use a very powerful MLS search website, one I had programmed and has the features my clients requested, including all the parameter and advanced search options, and the visual map search:   Search the Sequim MLS.   Don’t forget to bookmark this MLS website tool.

But do not sell the Internet short.   It is much more, much more than just a convenient way to search the multiple listing service.   It is also a powerful tool to find an experienced professional Realtor, who can make your search and negotiation so much more enjoyable (not to mention saving thousands of dollars in the negotiation).   Don’t underestimate the value of a true professional with 20 to 30 years of experience in your corner.   Did you know that a professional buyer’s agent does NOT cost you a dollar, but negotiates exclusively for you to get the best possible price, and the seller pays his fee at closing?   Is that amazing, or what?

The Internet is also a great information gathering tool on the communities of Sequim and Port Angeles, recreational activities, volunteer activities, hobbies, and nearly everything under the rain shadow of Sequim.   Do you have a niche interest?   Is it not amazing how powerful the Google search engine can be when you are searching for something rare or unique?

You can use this site, and the affiliate sites to search almost any subject on real estate for the Sequim and Port Angeles areas, including checklists for buying vacant land, tips on finding a builder who will build you the highest quality home at a guaranteed contract price, tips to avoid traps for the unwary, powerful and proven techniques to negotiate the best price, articles on earnest money, contract language, contingencies, adverse possession, easements, well logs, dual agency and how it can cost you money, and hundreds of other topics.

You’ll find photos of Sequim and Port Angeles, video tours of the area, links to the best local resources, and video instructions from an experienced local real estate attorney and now buyer’s agent.

Use the Internet as a resource right here.   All of this is given to you at no cost, courtesy of Chuck Marunde, your favorite buyer’s agent.

Possibly Related Posts:

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• Do You Know About Buyer’s Agency?
• Character is Everything
• Sequim Buyers Agent Sells The Most Homes in 2011
• Sequim Real Estate Broker Writes Book to Help Realtors

When you write an offer on a house in Sequim or Port Angeles, you’ll have to write a check for the earnest money.   The earnest money is what makes the contract a legal offer that can become a binding contract.   In contract law there must be consideration, and the buyer provides that consideration with earnest money.   The seller’s consideration is the promise to sell you his house at the agreed price.

How much should earnest money be? There is no rule, just guidelines.   The more expensive the home, the more the earnest money should be.   I’ve seen earnest money for as little as $100 and as much as $10,000.   It is common to see earnest money checks in the amount of $2,000 for a house priced at $200,000 and up, but it is also common to see earnest money of $5,000 for more expensive homes, especially in these uncertain times where financing can be questionable.   If a buyer is serious and can afford to purchase a $350,000 or $750,000 home, he or she can write a check for $2,000 to $5,000.

The earnest money check is not even deposited until there is mutual acceptance on the price and all the terms.   Once that happens, the final contract and the earnest money check are given to the escrow company, and they deposit the check.   Most real estate brokers, including me, don’t keep a trust account for that purpose as the regulatory requirements have gotten far too cumbersome.   Escrow companies have trust accounts and are set up to account for all the debits and credits on the HUD-1 settlement statement.

What happens if you reach mutual acceptance, give the escrow company the contract and they deposit the earnest money, but subsequently a contingency is not met (like you don’t qualify for your loan)?   How do you get your earnest money back?

Your buyer’s agent must draft a termination of the transaction and release of the earnest money, and the seller must sign that agreement.   While this is not required by law, the escrow companies all insist that they have a signed release from both buyer and seller. You can imagine that if the sellers refuse to sign the release, the escrow company will not release the funds to you.   In that case, after 14 days, the escrow company must tender the money to the superior court, and you either walk away from your earnest money or you hire an attorney and sue the seller for the return of your earnest money.

The reality is that most sellers are going to sign the release.   They realize that if you did not get your loan, or could not satisfy some other contingency, you are entitled to the earnest money, and the vast majority of sellers gladly cooperate and move on.

I recommend you hire an experienced Buyer’s Agent to watch your backside when it’s time to make an offer on a home.   We live in challenging times, and it’s easy to get in trouble these days without even trying.   May I suggest you hire me as your Buyer’s Agent?   I’d love to work with you to find your perfect retirement home.

Chuck Marunde (retired real estate attorney and now Sequim buyer’s agent)
360-775-5424

Possibly Related Posts:

• Sequim Buyer’s Agent – On a Mission for Clients
• Do You Know About Buyer’s Agency?
• Character is Everything
• Sequim Buyers Agent Sells The Most Homes in 2011
• Sequim Real Estate Broker Writes Book to Help Realtors

I recently read a blog by another real estate agent somewhere in the U.S. who wrote that if you are a buyer you can get good professional help in any real estate office by any agent, or words to that effect.   I disagree with that statement.

Does anyone think all lawyers are the same?   Or how about all school teachers, or football coaches, or dentists, or auto mechanics?   Of course they are not the same.   Neither are all real estate agents equal.   I recently received a very insightful question from a prospective client.   I love his question, because it shows me he really is thinking about who he retains as a Realtor, and he knows it makes a difference.   Here is his question and my answer.

Hi Chuck:

I have been corresponding via email with a couple of agents in your neck of the woods.   All are very helpful. I have read some of your articles and a question came to mind:   why should a potential buyer pick you over   other agents working diligently in the market? We haven’t visited Sequim as yet, but will in June ’09, and we will at that time decide if this is the place to buy a home.

Thanks, [name withheld in this article]

My response follows:

I love your question.   I wish every buyer asked that same question.   One of my pet peeves is that I compete with every Tom, Dick, and Jane who got a real estate license, but if clients don’t do some due diligence, how will they ever differentiate us?   I’m not able to talk too much about my own resume on my blogs, because that would be arrogant and turn people off, including me.   [Remember reader, I'm   breaking my rule here and answering a question about myself.]   My business is client-centric, so I try to write about subjects that clients are actually interested in.   BUT since you asked a direct question, “Why should a potential buyer pick you over other agents working diligently in the market?,” I will answer it directly.

1.   My education includes a B.A. in economics, a law degree with a focus on real estate, and three decades of real estate seminars on legal issues, sales and marketing, and negotiating.   But education without more is meaningless.

2.   My experience in detail would bore you here, because it includes 30 years in real estate, but suffice it to say that I’ve handled thousands of transactions as a Realtor in Alaska, Nevada, and Washington, and as a real estate attorney of 20 years.   (See my detailed resume.)   I just sold a $475,000 house to a buyer from California, and his testimony is probably the best reality check you could possibly get on me.   I called him and asked if he would mind if you called him and asked him how it was working with me, and he said he would be delighted to talk with you.   He’s worked with other agents, too, so he can give you a real comparison.   [Client's name and number withheld]

3.   As your buyer’s agent, I cost you nothing.   The seller pays my fee.   I love that.   I enjoy negotiating for my clients to get the best possible price and terms.   In once case I saved a client $80,000.   In another recent case, I helped a client as a buyer’s agent buy a house for$251,000 in a very intense negotiation that saved him about $38,000.   As a buyer’s agent, I’m selling a house every other month.   There are agents here who haven’t sold a house in over a year.   By the way, I do no print advertising.

Here are more detailed articles that I’ve written for your benefit on these subjects:

How to Research Your Next Realtor
Dual Agency Can Cost You
Dual Agency and the Exclusive Buyer’s Agent
Chuck Marunde’s Detailed Resume

You may have seen my sites, but here are the links:

SequimRealEstateNews.com
SequimPortAngeles.com
Search the Entire Sequim & Port Angeles MLS

[name withheld], I’d love to work with you, and I honestly believe you will get more from me than any other agent.   I would recommend you meet with me when you get here, and see if you are convinced I’m competent and trustworthy.   I’m looking forward to meeting you and working with you.

Chuck E. Marunde, J.D.
Broker/Realtor
Sequim & Port Angeles Real Estate, LLC
618 South Peabody St., Suite I
Port Angeles, WA  98362
360-775-5424

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Are you buying Sequim real estate, an existing home or a vacant lot?   If you are searching for the ideal property, I recommend being careful about the neighborhood, and I’m talking about junk freaks.   They live in every city and town in America.   They’re typically nice people:   they just happen to be junk freaks.

The problem isn’t the junk freak–it’s what he does to his property that will adversely effect your property.   Who wants a disaster of a junk yard next store or even down the street.   Many buyers have told me as we drove around looking at homes that they would not consider a particular listing because there was a grotesque junk yard nearby.

Driving around the block is important, but drive a larger radius and see just what is out there.   You may not have to look over or through the fence at broken down cars, rusty barrels, and refrigerators from the 1960′s, but if you ever plan to sell your home (or your children do), consider that buyers either won’t buy a home near a disaster zone, or they will pay a lot less.

Even when you do buy a lot or home in an attractive area, does the neighborhood have CC&R’s (covenants) that prohibit junk yards and pig farms?

If you are moving to Sequim or Port Angeles from California or Arizona, I recommend that you do what many of my clients do before they arrive here.   Email with me while you gather information to make a wise decision, search the MLS on my website, ask me about particular listings, the neighborhood, schools, recreation, and covenants.   By the time you get here, you and I will already have a sweet list of good prospects, and you’ll feel like you have a good feel for the area.

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Dual agency is legal in Washington, but I strongly believe there is a huge conflict of interest when an agent tells his selling client, “I promise to get you the highest possible price,” while also telling his buying client, “I promise to get you the lowest possible price.”

Imagine what a listing agent does for a seller. He or she has worked with a seller for six months to one year to list and market a property, with many many hours of paperwork, planning, writing ads, posting listings, meeting with the seller many times and having phone calls weekly, emailing and talking with prospective buyers, spending numerous hours behind the scenes, encouraging the seller and building an emotional bond, and who has committed his or her best efforts to get the highest possible price from any buyer who does show up.

Now imagine a buyer who drops into town and who calls that listing agent to drive around and look at homes for one afternoon. How can we honestly suggest the agent can fairly represent both the buyer and seller without bias?

Do professional athletes have dual agents?   Not a chance.

I did a very short video on this at:   Dual Agency Wrong

For an interesting debate on dual agency by real estate agents across the country, take a look at this article, Right or Wrong:   Dual Agency.

Possibly Related Posts:

• Sequim Buyer’s Agent – On a Mission for Clients
• Do You Know About Buyer’s Agency?
• Character is Everything
• Sequim Buyers Agent Sells The Most Homes in 2011
• Sequim Real Estate Broker Writes Book to Help Realtors

The fact that hundreds of real estate brokers are in trouble across the country is no surprise at all.   This real estate and economic downturn has spared no one, and certainly not real estate agents and brokers.

I’ve written elsewhere about the dramatic changes taking place in how people buy and sell real estate,   and the extraordinary changes in how real estate is advertised.   I’ve written about the dying breed of traditional real estate brokers who hang on to large brick and mortar buildings (and massive mortgage payments or huge leases) and expensive traditional advertising that no longer is effective, and the way-too-high overhead associated with that model.

With real estate commissions way way down, and overhead maintaining a level financial strain for brokers, it is no surprise that hundreds of real estate brokers around the country should seek bankruptcy protection, merge with other companies, or just close their doors.

Here are just a few large offices that are seeking to survive or morph into something that can survive:

1. Prudential Americana, a brokerage company in Las Vegas, Nevada that has 1,100 agents.
2. Century 21 Advantage Gold, a real estate brokerage in Las Vegas, Nevada with 300 agents.
3. Century 21 Town & Country, a real estate brokerage in Rochester, Michigan, that has 550 agents.
4. Prudential Cranbrook Realtors, a real estate brokerage in Troy, Michigan that has 90 agents.
5. LandAmerica Financial Group, which was the third-largest U.S. title insurance company
6. Help-U-Sell Real Estate, a fee-for-service real estate brokerage franchisor that has 1,000 offices in 46 states
7. Foxtons, a cut-rate commission real estate brokerage company in West Long Branch, New Jersey
8. WCI Companies, a Florida-based luxury home builder
9. Haskins Realty Northwest, a real estate brokerage in Portland, Oregon
10. RE/MAX Town Centre, a real estate brokerage in Orlando, Florida that has 60 agents.
11. Robert and Loraine Dyson, luxury home real estate brokers in Solana Beach, California

What does all this mean?   It means the real estate brokerage of tomorrow is not the traditional real estate brokerage that is top heavy.   It means buyers are looking for an experienced real estate agent who has powerful tools they can use from the comfort of their own home computer.   It means sellers are no longer willing to pay high commissions to cover all the overhead of a traditional brick and mortar.   Buildings are still nice, and we all need a place to work, but clients are not as interested in the beautiful hard wood conference tables and the luxurious furniture of real estate offices anymore.   Honestly, they spend very little time, if any, in those offices, but the brokers still have to pay for it.

At Sequim & Port Angeles Real Estate, LLC, we are working hard to meet our clients’ needs and desires, and we’re doing that on the Internet more dramatically than any of our competitors.   How can we help you?

Possibly Related Posts:

• Sequim Buyer’s Agent – On a Mission for Clients
• Do You Know About Buyer’s Agency?
• Character is Everything
• Sequim Buyers Agent Sells The Most Homes in 2011
• Sequim Real Estate Broker Writes Book to Help Realtors