Interviewer: Today were talking with Ed Hardey from Integrity Real Estate Group. He's the Vice Chair for the Metrolist Board and Chair for Metrolist Rules and Regulations. Ed, welcome to the show.

Ed Hardey: Thanks for having me.

Interviewer: We wanna talk a little bit about support services and online marketing. Every agent pretty much these days is involved in online marketing and, of course, they probably need a little help from Metrolist, is that right?

Ed Hardey: Yeah thats right. Thats obviously a big issue in one of the services we provide. So a broker can have their listings go out to places like in IDX feeds, RE Colorado, realtor.com, as well as things through ListHub, which is over 35 sites, okay, you can have your homes go to.

Interviewer: So I dont have a personal website or a realtor has a personal website and they can call Metrolist and say, Id like to have my listings displayed on my website and you sign it, what they call, an IDX agreement, correct?

Ed Hardey: Correct.

Interviewer: Charge for that is?

Ed Hardey: As of March 1st itll be zero; that will be included in the fees for Metrolist.

Interviewer: Flat fee for Metrolist? Okay, and of course, you got to have some type of third party display those listings on your website, whoever that may be, whoever you choose to do that, but theyll work in conjunction with Metrolist to get the data, is that correct?

Ed Hardey: Correct. You get to choose your own vendor, but we provide the data and we update that daily and so thats one of the big pluses for Broker.

Interviewer: Now here is something interesting that I found out, which was, I went back to my third party provider, and I wanted to start displaying new contracts and solds, and they are not equipped yet to do that. When I asked them why, they said because the majority of Metrolist boards, or majority of MLSs across the country, dont provide the feed.

Ed Hardey: You know one of the things...its true, one of the things that we do is we give brokers a choice, including your membership fee, is the professional product that includes active listings. Some people wanted more, under contracts and solds, so we provide that, that is the fee, but a lot of brokers dont take advantage of that and it depends on the broker's individual marketing, what they want to do.

Interviewer: Thats kudos to you and the board, because clearly from talking to the third party provider who works with MLSs all across the country, youre way ahead of the curve because they dont have enough participating MLSs to launch their product.

Ed Hardey: Yeah, in talking about that and making that decision quite a while ago, we saw the data was available regardless whether we provided or someone else, so lets get it right, now let's give our members that option.

Interviewer: Right, now you mentioned some other listings, syndications and distributions. Tell me more about these.

Ed Hardey: Well, probably the biggest one is ListHub, and that allows any broker to, at no charge, distribute the properties to 35 different websites, no additional effort. They can even choose which ones they want, if they only want some of those. One of those websites thats brand new is our exclusive agreement with DenverPost.com. Were pretty excited about; were the only ones that can do that.

Interviewer: Yeah, and now people can go to the classified sections online at Denver Post and search for homes and get the, a lot of the same information.

Ed Hardey: Yeah, theyll get that information, but theyll get it right and the broker gets the credit for their home sale.

Interviewer: And theres two websites that are also really important, that I know a lot of people that are included in, that is...

Ed Hardey: One of them is realtor.com, largest in the country for that. The other ones RE Colorado, which is Metrolists consumer site, and thats the largest in Colorado.

Interviewer: Yeah, its good stuff, you guys are doing a great job, thanks Ed.

Ed Hardey: Thank you, Dan.

Interviewer: Appreciate you being here.

Ed Hardey: Thanks for having us.

Posted in Headlines, Internet Marketing, MLS, Real Estate Industry, Lead Generation, RSS, Technology And YOU, Home Selling Services

Interviewer: Today were talking with Michael Morton from Metro Brokers Realty Oasis. Welcome to the show.

Michael Morton: Hi, good to be here.

Interviewer: Good. Nice meeting you. You know, when we first got talking, we realized that you had a special designation called REDS, and tell everyone what that stands for?

Michael Morton: It stands for Real Estate Divorce Specialist.

Interviewer: And I was--I got to plead ignorance, because I didnt know you could actually get one of these, but you can.

Michael Morton: You can, very few people have the designation at our agency.

Interviewer: Where do you go to get one?

Michael Morton: Its from a company in Boulder, actually, that started it.

Interviewer: Right, but you also had, you know, found out, got some additional certifications along with that, correct, and ones about parenting?

Michael Morton: Sure, sure. I have two different certifications as a parenting instructor.

Interviewer: Okay.

Michael Morton: One with the Love and Logic course, which is out of Golden, Colorado Dr. Charles Fay.

Interviewer: Right.

Michael Morton: And the other one is Breakthrough Parenting Dr. Jayne Major, out of California.

Interviewer: And how do you feel that assisted you when you are dealing with a couple getting divorced and selling their real estate?

Michael Morton: Well, there are many dynamics within the family when a couple is getting divorced, and one of them is theyre now multi-tasking like two separate households. So the dynamics of the children, if they have children, that type of thing, if you are aware of that and understand that, and understand sort of the mediation process between parents and children, you can help them also in the divorce real estate part of the transaction.

Interviewer: How much, how often would you say, percentage-wise, that youre dealing with the couple themselves or youre dealing with their attorneys?

Michael Morton: Its about half and half. The attorneys, of course, want to make sure that their clients interests are protected, and Ive worked with a lot of local attorneys that we will come up with a part of the final orders and actual section in the final orders that will state how the house is sold, the price that it is being listed, and things like that, and it reduces the conflict about ten-fold.

Interviewer: And then do you go another step and deal with their financial planners as well?

Michael Morton: Sure. People today are not only using attorneys. Its like they have a team and its more cost-effective for them, so if theyre using like a divorce financial planner, and they have assets like 401(k), things like that, real estate also fits into that. So according to their portfolio, I have conferred with different financial planners as far as how the house should be sold, if its a 1031 exchange, other areas like that.

Interviewer: So if I were probably to complete the triangle in the trifecta, I imagine the accountants in there somewhere too?

Michael Morton: Yeah, theyre always in there too.

Interviewer: Is that right?

Michael Morton: Yeah.

Interviewer: Right. So we got an attorney and accountant and a financial planner, and then you, and so you know, its not enough that you got to deal with the couple, now youve got three more other parties or soup, you know, chefs in the kitchen, so to speak.

Michael Morton: Sure.

Interviewer: Your phone must be busy?

Michael Morton: It is, it is, it rings off the hook some days, but you just have to be able to interact with each party and hold the best interest of the client in mind as youre doing it.

Interviewer: All right, final question, quickly.

Michael Morton: Sure.

Interviewer: $64,000 question: How do the couples avoid serious conflict during the real estate transaction?

Michael Morton: Well, try and stay calm, I mean thats about the only way to do it. You are separating, youve already decided to, you know, get divorced, and if you can look at it more as like a business transaction, then all the emotions that are wrapped up in this, it goes a lot smoother.

Interviewer: Great information. Thanks, Michael.

Michael Morton: Thank you. I appreciate it.

Posted in Headlines, Real Estate Industry

Interviewer: Today were talking with Michael Morton from Metro Brokers Realty Oasis and Michael, welcome to the show.

Michael Morton: Hi.

Interviewer: Thanks for being here.

Michael Morton: Thank you.

Interviewer: So how long have you been in real estate?

Michael Morton: Ive been in real estate for, this is my tenth year.

Interviewer: Interesting market youve seen over the last couple of years?

Michael Morton: Yeah, its been quite up and down its...

Interviewer: Because I imagine if we take a look at the last 10 years, youve had a little bit of everything, youve had probably the very best and the very worst.

Michael Morton: Sure, sure, it can be a roller coaster ride at times.

Interviewer: All right, so any tips on how you make it through that?

Michael Morton: Well, you just keep pushing forward.

Interviewer: Yeah.

Michael Morton: Try and find a definite niche, something like that, to work with.

Interviewer: And youve found that?

Michael Morton: Yeah, yes I have.

Interviewer: So tell me, what REDS is, R-E-D-S?

Michael Morton: REDS is a designation for Real Estate Divorce Specialist.

Interviewer: And I say wow because, you know, I know theres a lot of designations out there, but I didnt know you could niche it down that much.

Michael Morton: Sure. Well, yes, you can.

Interviewer: And why did you decide to do something like that?

Michael Morton: Well, Ive been through a divorce myself.

Interviewer: Okay.

Michael Morton: Fortunately or unfortunately.

Interviewer: Right.

Michael Morton: And I also volunteer for a local nonprofit that helps with support for people going through divorce, and one of the things that I found was they were needing help with liquidating or negotiating the resolution of their property, their family home.

Interviewer: Yeah, so talk a little bit about that. I mean, when you go to meet with a husband and wife who are splitting, obviously in very rare cases its probably amicable, but in most cases, its not.

Michael Morton: Right, unfortunately.

Interviewer: So what's going on there--I mean, what's the skill set that you need to handle that dynamic?

Michael Morton: Well, theres a lot of different dynamics going on that you need to be aware of, within the family, between the two people. So generally I can meet with them together; I can meet with them separately. I met several times with people with their divorce attorney, because this also relates to how their final orders are set up, as far as liquidating the house or having one of the parties stay and the other party move on.

Interviewer: You know it's funny, if you talk with buyers, what the buyer's primary concern is they didnt buy low enough. If you talk with the seller, you say what's the seller's primary is that they sold for too low a price, but when youre talking with divorced people, I imagine one of the top primary concerns is, who is my real estate agent really representing? Is he representing me or is he representing my wife?

Michael Morton: Right. Well, its hard to stay in the middle, but I do have some mediation skills. I also have a couple of designations as a certified parenting instructor and within those two certifications, Ive learned the dynamics of a divorce and how the family reacts, and how the two partners react, and its really about making them both comfortable with what youre doing.

Interviewer: Yeah, final quick question wrapping it up, but do you find that now, given the current economy and circumstances, were seeing not only the difficulty of divorce but were finding now divorced couples under water?

Michael Morton: Well yeah, there are a lot of short sales involved in this, and I have been doing short sales for pretty much the length of the 10 years Ive been in the business.

Interviewer: Oh, okay.

Michael Morton: So, and I have also have experience with fixing and flipping houses on my own and things like that. So I understand also those dynamics of working with the banks and being able to get people out in the shortest period of time with a short sale instead of a foreclosure which is, could be, another whole show here.

Interviewer: Yeah.

Michael Morton: But there are just several things to think about. There are also tax consequences and things like that, that usually, its so emotional during a divorce that youre not thinking about that.

Interviewer: Yeah. Michael, thanks.

Michael Morton: Thank you.

Interviewer: Appreciate you being here.

Michael Morton: Appreciate it, thank you very much.

Posted in Headlines, Metro Brokers, Real Estate Industry

Interviewer: Today were talking with Ed Hardey from Integrity Real Estate Group. He is the Vice Chair of the Metrolist Board and Chair for Metrolist Rules and Regulations. Ed, welcome to the show.

Ed Hardey: Thanks for having me.

Interviewer: Well, weve got some exciting news, you know, coming up here. Metrolist is going to go to a flat fee pricing for their brokers, correct?

Ed Hardey: Its correct, its something, its what the brokers had asked for, for a long time, and so were trying to be responsive and offer a predictable service for them.

Interviewer: Now, on the outside looking in, somebody would say, well arent you going to make less money?

Ed Hardey: You know, we honestly dont know, we budgeted to be revenue neutral.

Interviewer: Okay.

Ed Hardey: So just depending on the market situation.

Interviewer: So Metrolist can afford to go ahead and take this chance?

Ed Hardey: Correct, we booked a lot of members for that.

Interviewer: All right now what am I going to see or how is it going to be billed, tell me little bit about how its going to work.

Ed Hardey: Well the billing will be similar to which you have now. It could be through your broker, it could be through a direct bill, but its going to include most of the things that brokers use: that would be your searching, things like ListHub, contracts, they have Instanet, most of the service that you see today that you use, including even IDX professional, are going to be on that system.

Interviewer: And so, I was going to ask you about, because I, like a lot of brokers, have my own personal website. Ive got an IDX feed, people can search for listings and so forth, and thats been typically a $5 extra fee to me, but you are saying this is going to be, what, included?

Ed Hardey: Its actually included, but not only that, but you have two sites that are included with the IDX professional, and so that includes IDX professional, includes things like all your active listings, up to 10 photos, and its updated daily.

Interviewer: Okay, now here is the question for you, I wanted to know. Is it going to include refresh listings?

Ed Hardey: It will include anything thats active on the market.

Interviewer: Okay, but if I refresh a listing, you normally, thats a $10 charge. Thats probably not going to be included, I would assume?

Ed Hardey: Okay, on the actual fee there is a couple of things that arent, so if you want to use refresh you can, but you will be paying for that.

Interviewer: Okay.

Ed Hardey: Additionally things like ghost listing.

Interviewer: Right.

Ed Hardey: Youd also pay for that, just like you do today.

Interviewer: Talk a little bit more about the decision process and how you guys came around to this. I mean, obviously brokers said, I want a flat fee pricing, but there had to be more to it than that.

Ed Hardey: Well there is, theres you know, we get a lot of feedback from brokers, some looking for flat fee, some not wanting that.

Interviewer: Okay.

Ed Hardey: So youre trying to juggle and trying to what's best for the majority of members. Flat fee weve looked at it for a number of years, we decided, the board did, in December, to make that change, that the time was right.

Interviewer: Okay, and from December to March, it starts March 1st, correct?

Ed Hardey: March 1st, thats right.

Interviewer: And is there a certain amount of time you need there to get some billing things in place or whatever?

Ed Hardey: Well, we wanted to change the billing, but also just as far as the market cycle, to make sure that it was a smooth transition, that everyone was aware of it, and there were no surprises.

Interviewer: Right and so, in a case like me, Im going to call Metrolist, give them my credit card number. Im already on a direct bill pay. I dont pay through my broker and theyre going to keep that on file and theyre going to hit my credit card once a month.

Ed Hardey: Correct and just like they would do today so if you are, do you pay your bills directly?

Interviewer: Yeah.

Ed Hardey: Continue doing that, if you pay them through your broker, then continue doing that as well.

Interviewer: Thats going to be great for me because I normally rack up more than $38 in fees.

Ed Hardey: Awful lot of people do.

Interviewer: Thanks so much.

Ed Hardey: Thank you, Dan.

Interviewer: Appreciate you being here.

Ed Hardey: Thank you.

Posted in Headlines, MLS, Real Estate Industry, Home Selling Services

Interviewer: Today we're talking with Pat DeFeo, Vice President of Colorado Home Warranty. Welcome to the show.

Pat DeFeo: Nice to be here Dan, thank you.

Interviewer: We've talked a lot about home warranties, and realtors purchasing home warranties for clients, or what a home warranty is. Today I kind of want to talk about things that are included in your policy and things that are excluded. My wife and I were trying to decide if we wanted to buy a home warranty policy for our house and we started immediately going over, well, what's it going to cover?

Pat DeFeo: Okay.

Interviewer: Let's start there.

Pat DeFeo: Okay. The standard policy on our home warranty covers all the mechanical systems in the house to include: the furnace, the water heater, all the kitchen appliances to the built-in microwave, garbage disposal, ceiling fan, sump pump, garage door opener, plumbing leaks, electrical issues, stoppages, a panel. Sub panels on the electrical, we dont have on our standard coverage, that's it. Or we have optional coverage.

Interviewer: Okay.

Pat DeFeo: For buyers, that is washers and dryers...

Interviewer: Okay.

Pat DeFeo: ...spas...

Interviewer: Okay.

Pat DeFeo: ...if you have a hot tub, gas fireplaces...

Interviewer: Okay.

Pat DeFeo: ...and air-conditioners.

Interviewer: Okay.

Pat DeFeo: I mean, we have we also have some for well pumps and septic, but that's for up in the hills.

Interviewer: So my wife says to me, "So what do you think could go out like relatively soon?" And I said, "Well...

Pat DeFeo: Anything.

Interviewer: ...you know the garbage disposal's kind of old." I say, "We havent had the air conditioner furnace, air conditioner serviced, in quite some time, thats a possibility, and maybe the hot water tank." I said, "But I dont think the air conditioner is covered," and the first thing she says is, "Why?"

Pat DeFeo: Well, most, okay. We're in Colorado, now newer homes now have air conditioners or swamp coolers.

Interviewer: Okay.

Pat DeFeo: Not every house has a swamp cooler or an air conditioner, so to keep our prices low, we don't add them into the standard policy. We add them, we have them as add-ons, if you have that, if you have that thing.

Interviewer: All right, so give me an idea if I want to add air conditioning?

Pat DeFeo: If you wanted to add air conditioning, air conditioning coverage is an additional $75.

Interviewer: That's it?

Pat DeFeo: That's it.

Interviewer: Wow! That's like a service call.

Pat DeFeo: It's like a service call, exactly, and with this new 13 sear, it's very prudent to have AC coverage on your house.

Interviewer: Okay, one more question then, and so, then the washer dryer is optional, but somebody would say, well doesn"t everybody have a washer dryer? Why would that be option?

Pat DeFeo: Not every house is sold with a washer and dryer.

Interviewer: Okay.

Pat DeFeo: A lot of people take their washer and dryers with them.

Interviewer: Right.

Pat DeFeo: I mean, every case is different, but it's not a standard thing that's left in the house.

Interviewer: Well, it's a good option because I suppose if you are buying it as a real estate agent for a buyer or seller or whatever, that you may be able to save some money and be excluded, but if you're a home owner like me who wants a warranty program, and not so buying and selling their house, you might want to add in the washer and dryer.

Pat DeFeo: Yes, you would. We have a lot of realtors that have our warranty on their homes.

Interviewer: Yeah.

Pat DeFeo: And they are covered, everything is covered.

Interviewer: Well, yeah, I already got burned down and so I am not going to, not going to go down that road again.

Pat DeFeo: Don't go there.

Interviewer: All right, any other things that we should know about optional add-ons? And how expensive do they usually range? Is it mostly $75 to add something on, or...?

Pat DeFeo: $60 if you have a gas fireplace, $50 if it's for washer and dryer, and $150 for a hot tub spa.

Interviewer: Okay.

Pat DeFeo: Roof--we have limited roof coverage.

Interviewer: Okay.

Pat DeFeo: It's $60. It patches the roof. It doesn't replace the roof, so if you have a leak, it just patches where the leak is, and we have septic pumping for $45 and well pump.

Interviewer: Okay.

Pat DeFeo: If you are on the hills, you know, for $75, so the most expensive we have is $150 for spa or a hot tub.

Interviewer: Okay and a standard policy where you talked about all the inclusions, what are they usually?

Pat DeFeo: $250, yeah.

Interviewer: For a year?

Pat DeFeo: Yeah, for a year.

Interviewer: Okay.

Pat DeFeo: And we have 15-month option as well. I mean, we have lots of options, but basic policy is $250.

Interviewer: Thanks, Pat.

Pat DeFeo: Thank you.

Interviewer: I appreciate you being here.

Pat DeFeo: Bye now.

Posted in Headlines, Home Selling Services