April 28, 2006

Anatomy of a Remodel X

I’ve been patient.  I’ve been more than patient.  Now it’s time to blow off some frustration about the worker dudes at the Austin Street remodel in Fredericksburg Texas.

 

If you have been patiently following this process, you’ll note 1 or 2 times when I’ve expressed mild frustration or dismay with the worker dudes and their quality, attention to detail and thought processes.  Anyone who has ever attempted new construction or remodeling know what I’m talking about.

 

We are down to the nitty-gritty now, the small stuff the punch list.  We are also down to the end of the budget and there appears to be a growing gap in the correlation between work remaining and funds remaining.  Did I mention we are leased with a move-in of 5/15?  I am hearing things like “I got to get my guys out of here and on to the next job”, “you’re getting a real good deal on this” and (my personal favorite) “this is costing me more than I thought it would” from Mr. Contractor.

 

Yesterday was the final straw and is going to result in one of those “come to Jesus” talks that everyone eventually has with their contractor.  I went over with the wife to check things out (the worker dudes only worked a half day and are off today for a “retreat”) and we really gave the place the once over.  Examples of what we found include trim on newly installed window frames that looked like they were painted by my 4 yr. old (including the obvious paint slopped all over the screen material), the metal screen material is dented, the wood floors show wide swaths where the various coats of sealer were not applied, the screens and shutters on the small house were in the trash pile (they were to be painted and replaced), the window glass in all the windows on the small house have been sprayed over with primer, I could go on and on.

 

I’m psyching myself up to hold my temper when on Monday I will surely here excuse after excuse about how they’ve bent over backwards and are not making money, blah, blah, blah.  My responses will be along the lines of “you bid it, you deal with it”, “if your guys had not done “blank” then we wouldn’t be having this conversation”, etc.  Wish me luck!  Visit  Fredericksburg Texas

Posted by fbgjeff at 12:39:23 | Permanent Link | Comments (0) |

April 24, 2006

Gas and Fredericksburg Texas Real Estate

Check back a few posts where I detail the real truth about what we, as realtors in Fredericksburg Texas, take home out of those lofty commissions we all are swimming in. 

 

Now multiply the number of miles we drive in a year by the record gas prices and I think we’d have a strong case to make for a fuel surcharge (like the plumbers, electricians, airlines and delivery services are doing).  Bottom line, the cost of every phase of our business is increasing while commissions (and the subsequent splits) stay the same.  Sure, sure prices are rising so the commissions are too, right?  Wrong.  Too many agents! Free entry…ring a bell?  Don’t worry, if we (as a profession) don’t have the spine to raise our professional standards, we sure as heck won’t have the spine to have consumers help us offset our costs.

 

Visit Fredericksburg Texas

Posted by fbgjeff at 14:03:38 | Permanent Link | Comments (0) |

April 20, 2006

Proof It!

Wow.  Is it just me or has the level of professionalism in marketing and presentation materials slipped?  In the last week, I’ve seen two promotional pieces, reportedly prepared by “professionals” in Fredericksburg Texas that are sure to cause embarrassment for the firms they were intended to benefit.

 

Who prepares this trash?  Doesn’t anyone proofread it?  If they did proofread it and didn’t catch the problems, what does that say?  Even scarier, will anyone but me notice?

 It seems to me that any promo or advertising piece should (at a minimum) create a logical flow of ideas or information and exhibit proper grammar, punctuation and diction (defined in the Wiktionary as “The effectiveness and degree of clarity of word choice and presentation”).

 


 While I stand behind my high expectations for printed materials, I’ll be the first to admit that English and grammer were not my strong suits in school.  It has; however, been encumbant upon me to build my strengths in these area if I wanted to truly portray myself as a real estate professional.  The learning never ends.  Granted, everyone makes mistakes but as a group, real estate agents in Fredericksburg Texas must strive to do a better job of presentation and communication.
 

This all goes back to my previous rants about “free entry” into our profession. Setting low standards for experience and licensure inevitably reflects poorly on all of us.  I am proud of what I do and I am proud of what I have accomplished in my career.  Many participants in the realm of residential realty hold their opinion of agents right up there with used car salesman.  That’s too bad (but not unexpected when you see what I’ve seen).  Visit Fredericksburg Texas

Posted by fbgjeff at 13:20:37 | Permanent Link | Comments (0) |

April 14, 2006

Anatomy of a Remodel IX

We’re about two weeks out from completion of our remodel in Fredericksburg Texas.  The “For Lease” sign is up and the calls are coming in.  FYI, we’re asking $975/month for a 12 month lease with a 1 month deposit.  Pets are not an option as I have removed the old and tired fencing to improve the exterior look of the home.  I will attempt to re-use some of that old “loop” fencing to create a perimeter around the smaller home once we start on it.

 

Since the last installment, the guys have finished the bathroom (trim etc.), laid the “retro” vinyl tile in the bathroom and kitchen, replaced and re-glazed all the windows, installed and painted the two new front doors (with new hardware and locksets), replaced all the cabinet hardware and created the “cut-out” for the refrigerator.  The items remaining include staining and sealing the wood floors, hanging the exterior window screens and screen doors, misc. trim clean-up and a few other “punch list” items too small to mention here.

 

As promised, I’ll post some before and after photos either here in the body of the blog or in an album.

 

To buy or sell property in Fredericksburg Texas visit Fredericksburg Texas

 

 

Posted by fbgjeff at 12:45:36 | Permanent Link | Comments (0) |

April 11, 2006

The Herd Mentality

In a post on March 8, 2006 titled “Geeze Louise!” I referenced an article in the NY Times called “Endangered Species”.  Among other things, the post relates:

 “As it turns out, however, most agents don't make very much money during a boom, because of one simple fact: the boom attracts way too many of them. Over the past 10 years, membership in the N.A.R. has risen by more than 75 percent. And why not? Compared with most professions, becoming a real-estate agent is quick, cheap and relatively painless. In economics, this phenomenon is known as free entry.

The N.A.R.'s own figures show the same dynamic at work today, nationwide. From 2002 to 2004, during one of the hottest real-estate markets in American history, the median income for Realtors actually fell — to $49,300 from $52,200. This is not to say that some agents haven't become rich. As in most sales professions, whether the product is diamond rings or crack cocaine, the people at the top of the pyramid make an awful lot more money than those down below. It's just that the base of the real-estate agent pyramid grows significantly during a boom.
  And because hungry new Realtors are discouraged from undercutting their competitors by lowering their commission, they compete instead by frantically trying to obtain new listings. This would explain why your mailbox is jammed with postcards from Realtors exhorting you to sell. Most real-estate agents seem to spend 95 percent of their energy chasing clients (for which they are paid nothing) and 5 percent actually serving them (for which they are paid way too much).”
 Re-reading that post, I realized that I lost focus and rather than illustrate how this trend is affecting us here in little old Fredericksburg, I ranted against the idea that we may soon be “extinct”.
 Well, I’m back on task!  You may be interested to know that in March of 2004, we had 56 brokers as members of the Gillespie County Board of Realtors and 150 total agents.  By March of 2005, that number had grown to 74 brokers and 187 agents and in March of 2006 we have 86 brokers and 225 agents.  I’ll spare you the math and share that we have “enjoyed” an increase in membership of 50% since 2004.
 Granted, the dollar value of all transaction has increased in a similar manner due to property appreciation, low interest rates, market efficiencies, etc. but have the number of transactions increased similarly? Nope.  The key to remember when you’re thinking all agents are getting rich is to look at the total number of transactions as it relates to the increased number of agents.  Agents up by 50%, total number of transaction up by 10%.
 “Free entry’” may increase competition and  lead to some short-term benefits for sellers (i.e. more choices, discounted commissions) but I would argue that this leaves Buyers and Sellers with a conundrum.  Who to chose, why, is cheaper better…, etc.  DO YOUR HOMEWORK! And remember that EXPERIENCE MATTERS
Posted by fbgjeff at 15:21:18 | Permanent Link | Comments (0) |

April 04, 2006

Anatomy of a Remodel VIII

The latest.

 

The interior painting is complete and they are in the touch-up phase.  The floor in the bathroom has been repaired, the old tub has been replaced with a more modern (and usable) tub/shower combo and the fixtures have been re-plumbed.  All the floors (except for the kitchen) have been stripped and sanded and should be ready to stain this week.  The kitchen floor will be topped with vinyl tile laid in an interesting pattern.

 

All the electrical work is complete.  All switches, plates, fixtures and fans have been installed.

 

We’re getting down to the “nitty-gritty”! Items to complete include (in no particular order): stain and urethane the floors, install new front doors and locksets on all three exterior doors, carve out niche in kitchen for refrigerator, purchase and install appliances (frig and stove only), lay floors in kitchen and bath, install metal awning over back door, fix broken window glass, install exterior window screens, remove existing yard fencing, etc. etc. 

 

Believe it or not, I think we’re only about two weeks out from completion.  I’ll probably get the “For Lease” sign up later this week and start fielding calls.  Once this house is done, the guys will move over to the exterior of the smaller house and begin work on its exterior.  They’ll work there til we run out of $$.  I promise pictures in the next update!

 

Fredericksburg Texas Real Estate

Posted by fbgjeff at 09:22:55 | Permanent Link | Comments (0) |