I was fortunate to attend the National Association of Realtor's (NAR) convention earlier this month in San Diego.  More than 20,000 US real estate agents and over 1,000 international Realtors were in attendance.  It's always an exciting experience to meet agents from around the nation and world to share and learn new real estate practices.

Because of this trip and our goal to constantly improve our real estate delivery services, my real estate team will be implementing the following processes to streamline our home buyer and home seller experience:

1.  We have partnered with DocuSign, an electronic signature service.  No longer will our clients need to worry about faxing and scanning documents when signatures are required.  This service will allow us to not only provide the latest in technology and ease of signature, but will also allow us to respond quicker to both buyers and sellers.  In real estate, where timing is of the essence and a delay can mean a loss of a home, I am very excited to be able to offer this service to our clients.

2.  GoogleVoice - we have set up a GoogleVoice account that will help our real estate customers find us faster and even dial us from the website.  This service will help promote our home seller's listings, capture all buyer calls and just be much more readily available to consumers.  GoogleVoice will also provide us with an auto transcibe service which will help my real estate team document and track all voicemail messages.

3. Open House and Broker Caravan Tour tracking - We are getting ready to roll out a website that will capture photos of homes for sale in the Pasadena and neighboring cities as they are held open first to the real estate community and then to the public.  This website will provide insight into new homes for sale with photos and commentary that is not in the MLS system.

4.  Buyer Home-Buying On-Line Diaries - This service will also be rolled out shortly.  Every home buyer working with me or one of my real estate agents will get their very own on-line home buying diary.  As we visit homes, we'll take pictures, make notations and that will be immediately updated to a password protected website that is accessed only by you (unless of course, you'd like to give access to your friends and family - that's doable too!)  Sometimes when we visit homes after the first two appointments, it gets a little hard to remember what you liked or disliked about the house.  With this service, the experience of buying a home will be more fun and memorable!

Let me know what you think about our new real estate services and we look forward to helping you with your next purchase or sale of your home, condo or townhome.

Read More:  Do you need a buyer's Agent when shopping for your home?

Real estate Forecast and Economy Update for 2010

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

There are more than 1/2 a million real estate licensees in California alone!  Department of Real Estate is reporting that as of the end of August 2009, there were 514,320 licensed real estate practitioners.  Last month, over 1,500 real estate agents and real estate brokers received their license and close to 3,000 took the real estate exam.

What does that mean to you?  Well... it means that you have a choice as to who to work with when looking to buy or sell a home.

It's not too difficult to become a real estate agent in the state of California.  You do not need to have any experience, just have to pass an exam and take a few courses.  Having said that there are variety of agents waiting to serve you all with different levels of education and expertise.

Most home sellers do a pretty good job interviewing agents before they choose an agent to sell their home.  They usually schedule appointments with several realtors to get a better understanding of the experience, marketing plan and reputation prior to signing a contract with any individual agent.

READ MORE:  What can you expect from a great real estate agent?

Home buyers though seem to have a bit of a different approach.  Most usually find their realtor by chance.  They will either run into a real estate agent at an Open House or will call on an ad or an internet inquiry.  Some work with multiple realtors justifying it by saying something like "whoever finds me a home I like FIRST will be my agent".  Not the best approach, but one that is used by many with lack of understanding of the value that a buyer's agent brings to them.

The natural question here is what exactly is a buyer's agent vs. a seller's agent?  Are they different from a regular real estate agent? 

It's easier to understand who a seller's agent is.  It's a real estate agent that has been selected to sell a home, condo, townhome, land or income property representing an individual seller.  A seller's agent has only one goal to represent the interests of the seller ONLY and to gain him/her the highest possible price and the best terms for the property.  A seller's agent usually has an exclusive contract with the owner of the property and a fiduciary responsibility to that owner ONLY in selling the property in question.  The seller's agent will share their commission with the buyer's agent - an agent who brings an offer to purchase a home from a home buyer and successfully closes the transaction.

A buyer's agent, on the other hand, is someone that works with a particular buyer to represent their interests only.  Their job is to ensure that the buyer gets the best possible property at the best price and terms.  Buyer's agents just like seller's agents are not equal.  Some will work with a multitude of home buyers hoping that they will find stength in numbers.  Others take a more targetted approach and work only with a few home buyers at a time.

Since there are so many different agents, each working differently, I thought that I'd take the time to explain how I work with my home buyers. 

Here's an overview of what to expect when you contact me to help you buy your next home.

First of all, I look at a home buying experience holistically.  It's not just about finding you a property.  Anyone, for the most part, can do that.  Home buyers have multiple resources right now including individual agent sites like this one allowing them access to see all the homes for sale, as well as huge aggregators like Zillow, Realtor.com, etc.  But, it's not just about finding a property that you think will work for you.  It's about being prepared and being knowledgeable enough to understand how to position yourself to buy the home of your choice. 

Step 1:  Set up a Buyer's Consultation

This can be done in person or over the phone.  Usually, I prefer to meet in person, but do have clients contacting me from overseas or clients that are relocating and are not physically in Pasadena or have other conflicts - phone is the next best thing, but remember if you are local and are too busy to meet with a realtor, how do you know that they will be the right one to help you?  It's as much about connecting (human interaction - seeing whether or not you're comfortable with an agent) as about their expertise.

During the consultation, I will ask lots of questions so that I have a very clear understanding about your real estate needs, short term and long term goals and your financial situation.  I will also explain what is going on in the local real estate market and most importantly I will educate you about the process involved in buying a home.  By the time you leave my office, you should have a clear picture of what to expect and what your next steps should be.  Knowledge is power!

At this point, we will also set up a home search so that you can get familiarized with your home buying options and the types of homes available for sale.

A buyer consultation should take about 45 minutes to an hour.

Read More:  Pasadena Real Estate Guide - Everything you ever wanted to know about buying a home!

Step 2:  We will get you pre-approved with a reputable lender.

You can not be seriously looking for homes unless you are fully approved for a loan.  Not only do you have to be approved for a loan, but you have to be approved with a lender that can do what he or she says they will.  Unfortunately, there have been so many changes in the lending industry that getting a loan is not as easy as it was before. 

8 out of 10 home buyers that I meet, tell me the same thing - "I am not worried about the loan.  I will not have any problems getting one."  Well, it's my job to worry about your loan for several reasons. 

First, it's important that you consult with a lender to see what kind of options are available to you as far as down payments/closing costs, monthly mortgage payments and the price range that you are looking for.  

Second, get the paperwork out of the way so that there are no unpleasant surprises in escrow and you can fully concentrate on the house that you want to buy - not on your loan.

The moment you see a home that you like and get your offer accepted, you will put a deposit (in Pasadena - it's customary to have a 3% deposit) and you start incurring some costs like inspections and appraisal fees.  You do not want to put your money in jeopardy or start spending your hard earned $s only to find out that you are unable to get the type of loan you thought you could or get a funky request from a lender that you can not satisfy.

It's my job to protect your pocket book.  So... don't argue with me, get pre-approved with the lenders that I trust and recommend to ensure that you are protected.

By the way, you can get pre-approved over the phone and fax or email over supporting documentation to the lender.

READ MORE:  5 Tips to Improve your FICO Score

Step 3:  Once you're pre-approved, we will start scheduling home showing appointments.

To ensure that you are able to view homes at a time that is convenient for you, I have a team of showing agents that assist me with showing appointments.  If I am unable to meet with you personally, one of my showing agents will be available to take you out to look at homes.  Since I know what my clients are looking for, I usually preview most of the homes for sale that fit your criteria and in most instances, chances are I have already seen the home that you might fall in love with.  So no worries... if I'm not with you when you see a home of your dreams and I did not see it yet, I'll make sure to see it before advising you on how to approach writing an offer on it.

Step 4:  Get together to write a Residential Purchase Agreement.

You found a home that you really like, now it's time to strategize on how to get it for you.  We will take a look at the comparable market analysis for home sales around that home.  I will call the seller's agent to probe about the seller's needs, activity on this home and anything else that I can find out which can help us in writing our offer.

We will strategize on how to position us in both price and terms.  We will also present a complete, clean package to the seller and her agent including proof of down payment funds, a pre-approval letter, a letter to the seller from you amongst other items.

I will also review the purchase contract with you explaining the different contingencies involved to ensure that you understand what you are signing.  Expect to meet for about an hour - maybe a bit longer depending on how many questions come up or how complex the situation is.

There's nothing better than a clean, well written and thought through offer from a qualified buyer.  Seller's agents are looking at both the proposed buyer and the reputation of the buyer's agent.  If they are not familiar with the buyer's agent (there are over 1/2 a million agents in California) then they look to see how well the offer is written, how complete it is and how it is packaged.  It speaks volumes!

Step 4:  Open escrow!

I will oversee all the transactional details and ensure that you are focused on the appropriate steps.  We will order a physical inspection, a sewer line inspection if needed, an appraisal, shop for insurance etc.  Our goal here is to ensure that you understand all the critical timeframes and that our process flows smoothly with no surprises.

We will coordinate all activities with the escrow company, seller's agent and the title company.

I have a Transaction Coordinator overseeing all the paperwork to ensure that we get everything we need timely for us to review and return. 

We will sit down together or over the phone to review the escrow package and how to complete it.  I will track every step of the loan process through full loan approval and funding.

The first 10 days or so are going to be very busy for us, as well as the last week before closing. 

Step 5:  Congratulations - you bought your home!!!

Once the loan is funded and the property title is transferred to your name, I will help you with references to moving company, contractors, utility information and anything else that you might need to settle in to your new home.  It's amazing how many questions come up after the sale.  No worries, you are not alone.  We're here to help.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The last question that seems to come up a lot is about how busy I am.  I get calls or emails asking me if I have time to work with new home buyers.  Yes... I do.  It's very important to me that my clients get the best possible care and attention.  That is why I structured my team of real estate professionals a little differently from other real estate agents.  After we meet for our consultation, you will get a very clear understanding of how I work.  So... no worries.  I am here to help you find your next home.

If you are looking for a real estate advocate to guide you through the process of buying or selling your home in Pasadena, please give me a call to discuss your needs.  I'd love to help!

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

Another great article by my friend Joanna Dehn Beresford in the Best Of Pasadena issue of Pasadena Weekly this week.  Granted, it mentions yours truly, but it also gives some sound advice on what to look for in a Pasadena Real Estate Agent.

Buyers and sellers have good reason for hope in economic crisis

By Joanna Beresford 10/16/2008

"These are the best and worst of times for real estate," says my favorite real estate agent, Irina-the-Tsarina Netchaev. "The worst is uncertainty. Buyers wonder if it's the right time to buy.

Sellers don't know if they should sell, rent or hold. And agents have to keep up with constant changes in the industry, work a lot harder to make the same number of sales and serve their clients in the same way that they did in the past."

But even during economic tumult, Irina is no pessimist. Her family struggled to reach America, a country that her grandmother had dreamed of for years; when they arrived in the United States, Irina and her parents had left fear and despair behind them in Kiev.

"The best thing about the era we're in right now is the opportunity!" Irina says. "Opportunity for buyers to get into a home at a more affordable price. Opportunity for sellers who want to move or trade up, to exchange their present home for the home of their dreams. It's also an opportunity for savvy and creative agents who want to build their business, and position themselves for developments in the market."

I can't claim unequivocally that Irina is the best real estate agent in the San Gabriel region, because there are so many realtors in the area. Many of them are terrific, and most of them I've never even met. But I do know that Irina is among the best. I know that she delights in the artistry of her craft. I know that she's learned a great deal from her corporate experience, and also from her experience as mother to teenage children. I know that she's an avid student of life, real estate and human nature - and I know that she's not perfect.

"It's really important to have a consultation before making any decisions or commitments," says Irina, alluding to the chemistry and compatibility involved in the agent-client relationship. "I can't help everyone."

The best Pasadena real estate agent will demonstrate several, fundamental characteristics. Some of these are self evident. Like, if you're selling a home, you don't want to hire an agent who's going to nosh on your leftovers, drink out of the milk carton and indulge in a shower in the master bath during a lull in open house activity.

Second, don't mistake "top producer" for "best agent." The truly gifted agent may spend more time, therefore earning less money, to properly serve a client, than the agent who maintains a madcap momentum of million-dollar home sales and massive commissions. Often snubbing other agents in the process, which is another thing you should consider if you want the best agent in the business; find someone who cultivates friendly, supportive relationships within the real estate community.

Now more than ever, we all need each other in the course of buying, selling and living in our homes.
Most experts caution against working with a part-time agent. The full-time agent tends to be more focused, informed and dedicated than the guy who's still hanging onto his day-job.

Also, among other things, the best agent knows how to take a decent photo, write a decent description and return calls in a decent amount of time. It also helps if your realtor knows how much it costs to replace a 50-year-old furnace or rewire a converted garage.

The best real estate agent will provide you with references and comprehensive market analysis. He will negotiate effectively on your behalf. He will, according to real estate coach, broker and author Jennifer Allan, put your needs above his/her "need for a paycheck."

Obviously your agent should know the region intimately. And who wouldn't want to know Pasadena intimately?

"Where else can you find a sunny, 76-degree climate?" asks Irina. "Where can you be an hour away from skiing, 40 minutes from the ocean, surrounded by chic boutiques, theater, museums, culinary schools, academia, upscale restaurants and amazing hole-in-the-wall dives - all within a few mile radius of tree-lined streets and quiet neighborhoods? It's an amazing place to live and work!"

The thing is, the beauty of Pasadena persists through good times and bad, and the pleasures of living and working here make our community shine among the best-of-the-best idyllic regions in the world. The best real estate agents share our passion for the landscape, climate and community and their passion creates productivity.

"The example of my grandma following her dream," Irina says, "the courage that it took for my parents to leave their homeland with almost nothing and make a life in this country has instilled in me the idea that anything can be accomplished if you just dedicate yourself and are clear about your goals and passions."

Contact Joanna Dehn Beresford at truewrite@yahoo.com.

Real estate is changing.

No longer can a realtor sign a listing, update information on the Pasadena MLS (Multiple Listing Service) and sit back and wait for buyers.  When I first started selling homes, I used to go into the real estate office early each day to be the first one to look at the big (and I mean big - yellow page size) MLS book which held all the new and existing home listings.  That was the only way for a real estate agent to know what was going on in the real estate market.  Review the MLS book daily, visit broker's open houses's and network with other agents.

Boy, how things changed - thank goodness!  Today, Pasadena real estate agents and their clients get automated home notices via email as soon as new properties are listed.  Of course we still visit other broker's open houses and network with agents.  But, what is new and exciting is the advent of the internet and how the internet is changing the Pasadena real estate market place.

Most of my real estate business personally has come from referrals and repeat clients.  Recently, I've been getting a lot of phone calls and emails from people that have been referred to me by google, yahoo and msn.  What does this mean? 

Home buyers start their search for Pasadena homes on-line by searching the internet.  They put key terms like "Pasadena homes for sale" or "Pasadena real estate" or "Pasadena home listings" into the search engine of their search and then surf the web.  Once they see something they like, they email or call the real estate agent.

Personally, I have been preparing for this change for the last several years and have built a multitude of websites and blogs like www.pasadenacarealestatehomes.com, www.sanmarinoluxuryrealestate.com, www.montereyhillscarealestate.com, www.pasadenaviews.com , www.activerain.com/blogs/irina4realestate , www.irina4realstate.com,  providing buyers access to the information they crave like market reports and free home search tools.  I have featured homes on realtor.com for Pasadena and San Marino amongst a few others so that the buyers will see my seller's homes immediately - exposure = more money for the seller.

I also participate extensively in social networks like twitter, facebook, plaxo, utterly, friendfeed, linkedin and many more. 

Why is internet presence important to you as a home seller?

It's simple... this is the new face of real estate.  Real estate is not about putting your house in a local newspaper anymore!  Any real estate agent worth their salt will tell you that newspaper ads do not bring in home buyers, but they sure pacify the home sellers.  I say that home sellers are very savvy these days and understand the power of exposure via the web, of getting as many "eye balls" on their home as possible - that's how you sell homes!

So if you are thinking of selling your home, please ask your real estate agent the following questions:

1.  Does your real estate agent have a website that provides timely buyer information and MLS home search tools?

2.  Does your real estate agent have a real estate blog?  A blog is simply an interactive website.  A Pasadena real estate blog like this one allows consumers to interact with a real estate agent in a non-threatening atmosphere, learn and search for homes.  Blogs are the Web 2.0 version of a website.

3.  What kind of traffic does your realtor get on their website or real estate blog?  Remember, traffic = exposure to your home for sale which in turn creates more money for the seller and a quicker home sale.  A good real estate site should drive about 100 unique visitors a day and about 500 - 800 hits.

4.  Does your Pasadena real estate agent create a personal home website for each and every home that they are listing?  Where do they market these websites?  Will they provide you with weekly statistics on how many home buyers visit these personalized home websites. 

5.  Which social networks do they belong to and how do they use them to your "seller's" advantage to market your home for sale?  How active are they on these networks?

6.  Most importantly GOOGLE your real estate agent.  Do they have a presence on the internet.  For example - see google results for Irina Netchaev.  As you can see, there were close to 8,000 internet pages for Irina Netchaev.  That's a lot of internet presence!  Of course, my name is pretty unique.  If your realtor's name is John Smith, you'll get a lot more pages!  But, for the most part you'll get a pretty good idea of how active your real estate agent is on-line.

Another cool tool to use is www.searchme.com It is a great site that allows you to put anyone's names and actually see some of their internet presence.  For an example see Irina Netchaev's search me results.  Try putting your name in the search and see what comes up.

This post is not to brag about how many social networks I am on or how many websites I sponsor.  It is to bring light to the fact that real estate indeed is changing.  Demand the best of your realtor.  The real estate market is changing and the way the real estate is being marketed has already changed.  It's just that some real estate agents haven't figured it out yet.

Connect with Irina on the following networks:

Irina Netchaev on Twitter

Irina Netchaev on Facebook

Irina Netchaev on Flickr 

Irina Netchaev on LinkedIn

Irina Netchaev on Google

Irina Netchaev on Trulia Real Estate Voices

FriendFeed

Irina Netchaev on Utterli

Irina Netchaev on Realtor.com

Irina Netchaev on Plaxo

Irina Netchaev on Technorati

the following networks:

Irina Netchaev on Twitter

Irina Netchaev on Facebook

Irina Netchaev on Flickr 

Irina Netchaev on LinkedIn

Irina Netchaev on Google

Irina Netchaev on Trulia Real Estate Voices

FriendFeed

Irina Netchaev on Utterli

Irina Netchaev on Realtor.com

Irina Netchaev on Plaxo

Irina Netchaev on Technorati

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Pasadena Weekly's real estate columnist, Joanna Beresford has written another article.   Not only is it a very beautifully written story, but it also mentions a couple of quotes from yours truly.  Here it is for everyone's enjoyment.

Barefoot in the park

By Joanna Beresford 09/18/2008

Earlier this week I was walking barefoot through the streets of downtown Los Angeles. Backpack over my shoulder and head down, I carried a pair of dilapidated flip-flops in my hand - Corona blue and gold, bought for 99 cents, having traveled many miles on many feet already and deserving their rest.

The outlandish Disney Center erupts on the block between Grand and Hope streets, where the blue plastic thong wrenched itself free from one of those flip-flops. After that, I was barefoot, but I really didn't mind. The pavement was warm beneath my feet and the view was spectacular. I was looking for something and I may as well have found it with my scummy blistered toes as anywhere else.

Now I just can't remember exactly what I was looking for, except I do know that I felt sad and worried and angry about a bunch of things, most of which had to do with money and love, naturally. I thought, if I can't find some answers here, between the Disney Center and the Mark Taper Forum, these two bastions of culture, civilization and good taste, where am I gonna find  them? So I walked all the way around the soaring structure that some call a monstrosity and others call miraculous.

The light and surfaces stimulated me to the point of renewal, and that's something. But I wanted more, so I headed toward the cathedral. You know, The Cathedral. That Spaniard Jose Rafael Moneo's vision of heaven - Cathedral of Our Lady of the Angels on Temple Street. I've been there pretty often. I attended Sunday morning Mass once, and I bought a coffee and sat under the trees with the sparrows, reading. I love the sunbaked adobe color and the transparent walls and everything. But I should have known that a building famous for its lack of right angles (a design element dedicated to the aura of mystery that Moneo wished to explore) wasn't exactly going to give me any solid answers. Anyway, it was late in the day, gates were closing, bells were ringing, and I kept walking. Past tourists, city employees and homeless people mostly.

"The first loss is the best loss," Irina Netchaev says.  She's a Realtor, but she's also my friend, so I believe just about every word that comes out of her mouth.

READ BAREFOOT IN THE PARK