Transcript
Coming Soon
hey chip
um hey listen I saw you got that listing
on main street can I show my client
see I know it’s still in coming soon
status but my buyers are really well
qualified and man they really want to see it can you
get me in?
Hey Kev no
I’m sorry the Bright MLS rules clearly
forbid showing well under the cummings
status my friend
Oh Whatever
listen there’s no harm in trying i mean
lots of agents have let me sneak into
coming soon why are you being so
difficult?
Whoa did you know actually even you
asking me is a potential Bright MLS
violation to you it’s not okay to see a
listing in coming soon status
period I’m sorry those other agents were
acting a little bit unethical but I do
not bend the rules even for my friends
All right Mr. Ethics can you at least let
me know if you change the status to active
absolutely sure to do it happy to let you know whenever it
goes active and just before the date it’s listed
Cool so I want to make sure I see it the
minute it goes active
can I go ahead and schedule a showing now?
sure thing it’s scheduled ready to go active on 11/1 so you can go
through showing time right now make an
appointment show it on 11/1.
Hey I just spoke to my client they
really want this house and they don’t
want to wait till 11/1
how about if I just send you an offer?
What do you think?
I love that, certainly, there’s no rule
absolutely no rule against submitting a
contract to a coming soon listing
I look forward to getting your offer and
showing it to my seller
Great I’m sending it now. Do you got it yet?
Great news Kevin, my sellers have got it
they’ve accepted your offer
please sign or return it and we then will be ratified
Sweet action that is great to hear. My
clients are going to be so happy
can I come see it now?
I’m sorry not just
yet it cannot be shown while
still in the coming soon status once we get
it ratified I’ll change the status to
pending in the MLS
and then it can be shown
Wow I’ve had
girlfriends left it less difficult than
you what is
the deal man
No no no no I’m just being
ethical I’m following the rules my friend
it’s important that we follow the same
set of rules with everyone
playing by the same rulebook there’s no
gray area with coming soon listings they
cannot be shown
Wow we learned a lot today about what
you can and can’t do with coming soon
properties for more information check out the
Bright MLS website
to find out all of the rules and
regulations regarding coming soon
Home Owner’s Insurance
Up next we have Richard Bibb with Goosehead Insurance
talking to us about what
you need to know about homeowners insurance
how are you today Richard
I’m doing great
Awesome
So what are some of the things that
every realtor should know about
home insurance
well home insurance is
obviously required for every property
that’s sold and that they’re the key thing
realtor should be aware of is that
there’s incredible number of variables
that go into calculating the
premium for a home um and so some of the
things that i like to point out to
re-entrance that are important are
things like the age of the roof i mean
you probably don’t know this but
many insurance companies will not even
write an insurance policy
on a home if the roof is over uh older
than say 20 years so while there’s plenty of will
all i want so and the age of the roof is
a factor that every insurance company
wants to know
and the calculations into the premium so
that’s something that should be aware of
when you’re either
selling a property or representing a
buyer that’s buying
that’s awesome so you mentioned house
there are a bunch of different
insurance companies why is it vital that
customers shop among all the different
providers
well insurance companies uh have all
have different appetites for the type of
risk that they like to ensure i mean
some people
only like you know only one insurer properties that say are in suburban neighborhoods and
they don’t like rural properties for
example some companies don’t like
properties that are near water
while there are others that will write
those so that because of so many
different types
of properties out there that their
different insurance companies are going
to be like that type of property and may not
like another type of property so the
only way to find out really is to go
shop among the different
different companies to find out who’s
going to have a good premium for the
particular property that you’re
involved in selling yeah and around
Fredericksburg of course we have all
those different types of
properties you got to King George it’s
like very rural developments
So downtown Fredericksburg has a lot
of historic homes
so what are some things that an agent or
a consumer might need to know about
insuring those
well the most common type of loss
settlement is
where you ensure the companies insure
the property for its replacement cost
which is
as the name implies it’s how much would
it cost to replace the cost that
replaced the house
in the event of a total loss with older
homes
and historic homes
many times we do what’s called a
modified replacement cost or
where instead of replacing exactly as
it’s currently built obviously if it was
built in the 1850s it’s hard to
replicate exactly the constructive
methods and so forth
you may have to have insured to what’s
called a modified replacement cost where
essentially they
build it like it was but using modern
materials and modern
construction techniques and so those are
things that just come into play when
you’re dealing with
properties that are you know say 75 plus
years old or something
so what are some things that people need
to look out for that homeowners
insurance might not normally cover
yeah it’s important to understand you
know what’s covered under your
homeowner’s insurance and the list is
quite long but there’s also a couple of
very common things that the
insurance does not normal home
insurance does not cover
and that’s for damage from things uh
like earthquake
uh and damage from uh from flood uh
earthquake was something that
around this area people didn’t think
about much of until or 15 years ago so
when the event happened in mineral
and now uh you know there’s a disclaimer
that’s provided with every insurance
policy pointing out
to them that the standard policy does
not cover earthquake insurance
damage from earthquake um there are
endorsements available from practically
every insurer to cover earthquake damage
to certain extent
we point that out to the customer but
it’s important to realize that your
standard policy does not cover
things for earthquake also similarly
with flood
flood usually have to get a separate
flood policy either from the national
flood program
or there’s a number of private insurers
that offer flood insurance now
and usually at a much more competitive
rate and so it’s important
to you know when you’re when we’re
dealing with a customer particularly if
they’re in an area where they’re
near a river or
a body of water that’s subject to
flooding to make them aware of that and ensure it
properly secure the property with the flood
insurance in addition to the regular
homeowners insurance
awesome so that is awesome information i
feel like every agent is going to feel a
little bit more prepared now because
honestly insurance can seem so scary to
begin with
and then people are asking me questions
as you’re going
so um if an agent wants to refer you to
their client or insure
their stuff with you how can they get in
contact with you
well this is the thing
just to call me my
phone number is 571-349-9069
um you can reach me by email
richard.goosehead.com