Frequently Asked Questions from Sellers


1. How long have you been in the real estate business? I got my Michigan Broker’s License around 1967, but I worked in construction for several years as well.

2. How old are you? I’m sixty-two.

3. How many houses will you sell this year? Around 150 or so with the way the market is going.

4. How many homes have you sold altogether? I am working on a count for you. I can say that one year, the President of Real Estate One said "she sold one per day for the year".

5. What areas of Michigan do you work? Southeastern Michigan, basically the entire Oakland county. I’ve lived here a long time, so it’s easy for me. My office is also convenient to all areas. Real Estate One has offices all over Michigan and we are welcome to use each other's sister office.

6. Do you represent both buyers and sellers? Yes, though I often represent one more than the other. I am currently the #1 Agent in Oakland County for this year, but that could change.

7. What exactly is a Buyer’s Agent? When a licensed agent or broker (like me) has developed a comfort zone or specialty with the buying side of a transaction over the course of along career, they become known as Buyer's Agents. Buyer’s Agents are becoming more and more of a specialty.

8. What’s the difference between an agent and a broker? Not a whole lot. Basically, more education and two year’s sales experience. A broker can have salespeople work for them and every real estate office has its own “broker of record”. There are many good agents who are not brokers.

9. Does it cost me any more to work with a Top Buyer's Agent? No.

10. What do you think of “For Sale By Owner” properties? They’re not as common as they were back in the 80’s, and with the average price here, FSBO’s aren’t very common and the Help-U-Sell companies are few and far between. If you find a For Sale By Owner property, I generally advise you to be very careful. Obviously, if the seller is a friend or family member, you should have more trust. Having said that, most companies train their agents to use extreme caution when a seller - for whatever reason - tries to operate outside the usual system. Any honest agent will probably tell you the same thing. Sometimes, but not always, a FSBO will have a disclosure issue, or some other reason not to deal with an agent. Getting involved with a sale that is just too slippery a slope. There are transaction fees with just about every large financial decision in life and real estate is no exception. They’re in place to successfully and - most importantly - legally close a transaction. For each property transaction, there are around 75-100 pieces of paper to sign. Someone has to take responsibility to see that they are completed legally, and that person should be licensed by the state.

11. Where are Oakland prices going? Down, most likely, much as they have been since 2004. It is, however, the best time to buy a home in Oakland. Oakland will rebound, and meanwhile, look at the buys available right now! No give-aways, but "good deals".

12. Should I be afraid to buy now? It feels like I’m still buying at the top. A very common question, so you’re not alone. Don’t worry, you’re not buying at the top. Buyers have been saying that to me since 1985 and probably to other agents since the early 1900’s. Nearly everybody feels that way at some point, everywhere. Call anybody who bought here in the last fifty years and they’ll probably tell you they felt the same thing when they bought. You would have felt the same way every year, no matter when you purchased.

13. Okay, so prices are just going down. How much? I don’t know, but according to the charts, prices have gone down an average of 6% a year for the average size house since that 2004 date. The cheaper ones have only gone down slightly, but the really expensive ones have gone down more. A lot of people want to live here and we are a county with a fixed supply and a very high demand. You decide. When the market comes back, the higher price range homes will be the first ones to go back up. This again makes it a Great Time To Buy!

14. Aren’t you saying that because you’re an agent, and you get paid if I buy? A fair question, but it doesn't hold up if you look at the big picture. I’ve got a fourty year career at stake with hundreds of loyal clients and more coming on board every day. Given my small piece of the pie in any sale, I’m not going to risk my livelihood by giving you inaccurate information.

15. How is a real estate commission divided up? Do you get the whole 6%? Sadly, no. If I did, I could maybe cut back to six days a week. First, commissions have dropped over the years down to 5.5%, and rightly so. That 5.5% is then divided between both the listing agent with 2.5% and the selling agent with 3%. My office and I split the commission further, my assistant must receive some, and my accountant gets some for my monthly expenses and of course some must be kept for the tax man. Generally, I'm left with a smaller amount of the original commission than might be supposed. Any top agent's pay on a gross commission is around 1.75% of the sales price on any transaction.

16. Is there any advantage to waiting if I’m not ready to buy now? Maybe. Your biggest risk is that prices could go up again, meaning a new house could cost you more to buy next year than this. If you’re thinking prices might drop, that’s even riskier. Some of the cities in Oakland are essentially "no growth"; there are no more large parcels of available land to build on, but the area remains tremendously desirable. I’m no economist, but it seems a pretty safe bet that Oakland County will enjoy a future of steady appreciation. Remember, you don’t want to buy in an area that has seen a recent huge jump in prices. That’s dangerous, much like buying a stock that’s just gone up 100% over a very short period of time.

17. Do you consider yourself a “salesman”? Not really. Part of my job is to counsel you. That means doing everything from helping you decide whether a house is a good deal, to advising you against a house that is not. I’d never give you bad advice and give up a forty year career for the sake of my fractional end of a single commission. It’s just not worth it. I will always be honest with you, like it or not. That’s my promise.

18. Do you buy property yourself? No. My philosophy is to offer good opportunities to my clients first; in the event they all pass, I may buy it myself. But, since I usually have a client willing to buy, I don’t have to worry about that potential conflict of interest. I currently own just three homes: one in Rochester Hills and two vacation homes for the entire family.

19. Where do you live? I live in Rochester Hills, about ½ mile from my main office. We have have raised three wonderful children, now have seven wonderful grandchildren. I have lived in Oakland County all my life and know most areas very well.

20. How much longer do you expect to work in real estate? Until they kick me out, or until I stop having fun, whichever comes first. Even though it’s pretty much a seven day a week job, I really enjoy it and have never really done anything else but this. My daughter Paula and husband Pete have worked with me for around fifteen years and will take over some day should I wish to slow down. Until then I am excited to continue to enjoy working with both them and my granddaughter. She is twenty now, and is displaying all the attributes of being a great sales person.