Weinstein
Fedri Group
Surviving The Real Estate
Transaction
“How to
keep a healthy perspective during a stressful transaction and maximize the
value added from your professional Realtor”
Buying and selling a home elicits the full range of
human emotion. Many studies
have identified the process of buying or selling a home as the second most
stressful event in a person’s life next to divorce.
Often one’s motivation for buying or selling a home involves
dramatic change which in itself can be a cause of stress in a person’s
life. A new baby, a job
promotion, an inheritance, a growing family, the need to pursue better
schools or a safer neighborhood, death, divorce, job loss, relocation,
financial misfortune, or the need to care for an elderly parent are just
some examples. The Weinstein
Fedri Group of Weinsteins Fedri Realty is providing this brochure with the hope
that your Real Estate experience will be as stress free as is humanly
possible.
The Phoenix Metropolitan area has over 30,000
licensed Realtors – the barrier to entry is low, and the field is
crowded with temporary agents who have turned to Real Estate during a job
loss. As a result the
attrition rate is approximately 90% during the first 2 years, with many of
the 10% who renew their license being part time agents or the spouse of a
full time wage earner.
These statistics fuel a marketplace in which a lack
of trust, hard selling, and questionable practices abound.
Some of this stems from the early days of Real Estate in which the
buyer’s agent was actually working for the seller.
In the last five years the industry has self regulated itself quite
nicely with the advent of a “Buyer Broker” and associated disclosure
of fiduciary responsibility. Buyers
today should be comfortable knowing that their agent is working for their
best interests. However many
consumers have a lingering distrust from their previous experience and it
may take many more years until the Real Estate agent can count on the
trust of all consumers.
If you are reading this brochure you are either a
client of the Weinstein Fedri Group or you are considering hiring the
Weinstein Fedri Group. With
30,000 plus Realtor’s in town, there is a 50% chance you will have to
explain to a relative, friend, neighbor, or coworker exactly why you hired
a qualified full time professional Real Estate group to help you with the
most important financial transaction in your life.
We live in a self service economy, we pump our own
gas, we use the money mover, and we research on the Internet.
Many consumers knowing what they know about the Real Estate market
are anxious and don’t trust their Realtor to properly look after their
affairs. Rob Weinstein and
Ron Fedri the principals of the Weinstein Fedri Group of Weinsteins Fedri Realty
offer a full service Real Estate Experience.
Similar to an attorney, an accountant, or a financial planner.
The key is to choose wisely, put your trust in a qualified full
time professional and let them help you successfully navigate the
transaction.
Background: Weinsteins Fedri Realty is the largest, most
successful Real Estate company in the
Phoenix
metropolitan market. The vast
majority of agents are full time with over 5 years experience.
Unlike most brokerages that do quality control in the neighborhood,
Weinsteins Fedri Realty has a centralized brokerage operation which translates
to exceptional quality control. Because
of this centralized quality control we have the lowest insurance rates in
the nation for errors and omissions.
The Weinstein Fedri Group leases the largest private suite of
offices within the Scottsdale Ranch Office of Weinsteins Fedri Realty and is
open seven days a week, with a fully staffed reception desk and 24 hour
answering service.
Rob Weinstein and Ron Fedri are two of the top
producing agents within Weinsteins Fedri Realty and the entire
Phoenix
area. Rob has an extensive
corporate resume. Highlights
include positions as an officer of publicly traded technology
corporations, Vice President of Raytheon Corporation, and as Senior Vice
President of Hombid.com (the largest technology startup in the valley in
2001) which was sold to Realtor.com.
Rob has an extensive background in negotiation and has successfully
been involved in many corporate acquisitions, and capital investments. Ron
Fedri has a Masters degree in public administration, has been a resident
of
Phoenix
and
Scottsdale
for almost 30 years. Ron has
his broker’s license, managed a branch of Merrill Lynch Realty, and has
worked on large parcels and luxury home developments.
Ron has a unique feel for the transaction; his instincts are proven
by our transaction close rate of over 95%.
Unlike most Realtors, Ron and Rob work as a team.
When you hire us – you get both of us.
Either Rob or Ron will be available 7 days a week, 18 hours a day.
However – 80% of the time you get both of us.
Odds are we will both meet you at your listing presentation, at the
open house, to present your offer, showing you your dream home, etc.
Our clients will tell you that our skills compliment each other.
Rob will negotiate your best price (buying or selling), find you a
dream home, and administer the paperwork to exacting standards.
Ron knows every sub division, every builder, and has seen every
inspection issue. He provides
exceptional customer service and can refer you to our network of
contractors and friends. Best
of all, we don’t take ourselves too seriously and enjoy each others
company. As for motivation,
we both have kids in college – need I say more.
Both Ron and Rob embrace technology, we both author
websites, use auto searches, advertise on the web, etc.
Rob runs the marketing both for the group and our listings.
Having a good knowledge of the background of your
Real Estate Professional is the first and most important step to
successfully negotiating the Real Estate Transaction.
You have picked one of the most accomplished and professional
Realtors, and you have hired two Realtors not one.
In order to maximize the value added from your selection it will be
helpful to think of us not as “used car salesmen” but more like an
Attorney, or CPA
Unlike many professional relationships, many
consumers do think of Realtors as one step removed from a used car
salesman. This impression has
been fostered by many reasons already mentioned.
Consumers have learned to be wary at first until a bond of trust
has been established – especially if the Realtor selection was not the
result of a referral. Realtors
have been know to “follow the course of least resistance” –
encouraging you to buy the first home you show interest in, pay full
price, gloss over short comings and move on to the next consumer.
These types of behaviors and the urban legend which stems from past
practices lead many of our clients to withhold or hedge sharing with us.
BEST PRACTICE #1 – Trust
your Weinstein Fedri Group Realtor – share honestly your wants and
desires. Sharing what you
really can afford, and your true motivation for moving will allow us to do
a better job, it will never result in you paying more for a house.
Resist the urge to negotiate with your Realtor – your Realtor
works for you – if you don’t trust your Realtor you will engage in
negotiations with your Realtor – negotiations are for the opposing party
in the contract. Think of
your Weinstein Fedri Group Realtor as a trained negotiator with an
intimate knowledge of hundreds of similar transactions.
We will provide you with strategies, competitive market analysis,
and professionally negotiate with the other party keeping emotions out of
the transaction. We will
always attempt to get you the best price regardless of your ability to pay
more, or your willingness to pay more.
Clients who don’t trust their Realtors spend a lot of time
looking at the wrong houses, and are most likely to loose their dream
homes during the offer and counter offer stage of the transaction.
BEST PRACTICE #2 – Think
before you Divorce your Realtor – Realtor’s know that when a buyer
is looking for a home, a strong nesting instinct is at play.
An appointment for 2pm may very well have a client spending the
entire morning on the phone with other Realtors, visiting open houses and
calling ads. As your “Buyer
Broker” we are committed to representing your fiduciary interest in what
is likely to be your most significant investment.
We encourage you to investigate market opportunities – however we
expect you to contact us and allow us to work for you with regard to any
property including “for sale by owner” properties.
If you walk into the front door of a home or a new home development
without your Weinstein Fedri Group Realtor – you have “DIVORCED”
your agent from representing you on that home, unless it is an open house
and you have not signed in at the property.
We ask you to tell other Realtors that you have representation,
professionals to help you determine if a home is a good investment,
determine a fair price, handle the negotiation, home inspection, research
past insurance claims, neighborhood and school issues.
Beware of dealing with listing agents – they represent the
fiduciary interests of the sellers, not the buyer!
If you want to shop – call us, don’t divorce us!
BEST PRACTICE #3 – Be
Prepared to Compromise – Especially when inventory is tight.
Statistically buyers and sellers end up making some level of
compromise. Buyers often end
up buyer property which did not fit their initial description.
Price, style, school, commute, etc.
The discovery process usually leads to greater awareness of the
market and rarely is a home available which meets all criteria.
Buyers want homes which are “ready to move into” or else they
want a discount – sellers need to market their homes with this in mind!
BEST PRACTICE #4 – Your
last Real Estate Experience may not be relevant to your next!
Consumers sell their homes on average every 5-7 years.
Experience can be a great teacher – however we remind you that
the Weinstein Fedri Group will have sold some 40 homes in the last six
months – that is why you hired us – we will share our experience of
the local market, local practices, and what is reasonable with you – do
not hang on to your last personal experience and expect your next
transaction to mimic your last.
BEST PRACTICE #5 – Treat
the other party fairly – The Weinstein Fedri Group always recommends
maximizing your profit. However
we believe in treating the other party fairly.
Not everyone is lucky enough to buy or sell to a reasonable fair
minded person. On occasion a
client will have the misfortune of buying or selling to someone whose
motivation is not the same as their own.
This may result in having a difficult negotiation with someone who
demands unreasonable repairs, or refuses to make reasonable repairs.
If you have the misfortune of dealing with an unreasonable party
– please do not assume that this is customary or that you should treat
the party at the other end of your buy and sell in a similar fashion.
Try and keep focused on the big picture – will the home provide
you with the EXPERIENCE you are looking for and will it prove to be a good
long term investment.
BEST PRACTICE #6 – Manage
your expectations – If you are buying a 15 year old home – you
should expect the inspection report to reflect the same. If
50% of the homes in the subdivision have termites – well guess what, you
probably will have termites. Many
homes have a long laundry list of inspection issues.
Usually roofing problems and or large water damage issues are most
likely to lead to a termination of a purchase contract.
However this is the most stressful part of the Real Estate process.
Regular well adjusted consumers will “overreact” to the
inspection of a home. Buyers
threaten to cancel the contract even before the seller refuses to repair,
and sellers threaten to take the house off the market even before the
buyer requests a repair. Consumers
universally tend to over estimate the cost of fixing inspection items –
our preferred contractors and handymen usually can make these repairs for
a fraction of the assumed cost. In
fact, many contractors will invoice the title company eliminating the cash
flow issue. The Weinstein Fedri Group agent will be with you at the
inspection to see first hand what the issues are and attempt to keep them
in perspective. A good rule
of thumb is wait 24 hours after being presented with an inspection repair
request before deciding a course of action with your Realtor.
Remember repairs are part of a complicated formula of what price
was paid, what is customary and typical, and how difficult is will be for
the home owner to make arrangements for repairs.
In addition, many times repair requests arrive while the other
party is undergoing the stress of moving, changing jobs, etc.
BEST
PRACTICE #7 - Full Service Means
Full Service – We will help eliminate stress by providing full
service. We will negotiate
price, prepare all contractual documents, manage deadlines and inspections
issues, hire a professional transaction coordinator, and work with the
title company. We will join
you for the walk thru and insure a smooth and successful Real Estate
transaction. We will help you
by insuring you make the right choice, get the right price, and have the
most stress free Real Estate experience.
In summary all Realtors are not alike!
Many clients have shared with us that their last Real Estate
experience was a disaster. They
often bought through a friend, or a listing agent and got a home with a
leaky roof and much deferred maintenance, or a poor investment in the
wrong neighborhood. When it
comes to making your largest financial investment we encourage you to
choose wisely, and thank you for considering the Weinstein Fedri Group of Weinsteins Fedri Realty.
The
Weinstein Fedri Group
Weinsteins Fedri Realty
10380 E. Corrine Dr. Suite 130
Scottsdale
,
AZ
85260
Office
480-272-6202
Cell
602-430-2330
www.scottsdalegroup.com
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