Last year I was invited to participate in the newly forming Ventura chapter of the CMA Real Estate Networking Group.  CMA is a mutual benefit business league founded to provide high level professional real estate service providers an environment to network, exchange business opportunities, build relationships and create an advantage in the market with other CMA members who share common standards of integrity, excellence and accountability.  CMA has been in existence for more than seven years in other areas of the county and there are chapters in Camarillo and the Conejo Valley.  CMA stands for “Complete Marketing Advantage.”  We have members from many different Ventura real estate companies working together.  Our membership also includes many other real estate professionals; Escrow Officers, Title Insurance Representatives, Termite Companies, Insurance Agents, Natural Hazards Disclosure Companies, etc.  

With our combined resources we have been able to achieve some real benefits for our members and their clients.  One example is the ability to take out ads using joint resources to promote ourselves and our listings.  Recently we started running this full page ad in Ventana Magazine each month.  We also jointly promote our Broker Caravans of new listings in a unique fashion that guarantees more agents through our client’s homes.  (That’s a topic for a whole article in itself!)

There is also a huge advantage to surrounding one’s self with other positive, hardworking, and ethical people. 

Our current REALTOR members include:

Fernie Campos-Coldell Banker
Pearl Reyes-Coldwell Banker
Julie Taylor-Coldwell Banker
Joe Virnig-RE/MAX Gold Coast REALTORS
Corina and Don Thoresen-Troop Real Estate
Cheryle Estes-Troop Real Estate
Brooke Smith-Coldwell Banker
Barbara Ashby-The Real Estate Company
Art Perez-Troop Real Estate
Veronica Licea-Coldwell Banker
Karen Campbell-Ventura Property Shoppe
Linda Ward-The Real Estate Company
Monica Hurtado-Select Properties
Lauren Lee Henry-RE/MAX Gold Coast REALTORS
Monique Webster-RE/MAX Gold Coast REALTORS
Lei Eberhardt-Coldwell Banker
Julie Zermeno-ERA Cusick Realty
Ellen Halverson-Coldwell Banker
Carolyn Herrera-Prudential

Our Affiliate members include:

Frank Acosta-StateFarm Insurance
Bob Curtis-Property ID
Joe Dotzler-United Title Company
Tress Golden-Aliso Escrow
Cheryle Hall-Aliso Escrow
Linda Hall-GMAC Mortgage
Pat O’Dell-BPC Pest Control
Vanessa Rice-Aliso Escrow
Tamara Rossie-First Amercian Home Buyers Warranty
Vicki Warren-BPC Pest Control
Rhonda Wharton-Aliso Escrow.

If you are a real estate professional in Ventura and are interested in getting by with “a little help from your friends”, contact one of the members of our group.  Any of us would be happy to tell you more.

I was at the auction, held by the Real Estate Disposition Corporation, because a client of mine was interested in four of the homes located in Thousand Oaks that were to be auctioned off that night.  I’d previewed them for him two weeks beforehand, and while he’d decided against participating I went anyway to see what kinds of bargains were to be had.  The auction started with a brief explanation of the rules. 

• You must be registered and have a cashier’s check for $5,000 made out to yourself.
• You must be able to write a check for 5% of your winning bid. (The difference between the $5,000 cashier’s check and the 5% deposit.)
• There is a 5% buyer’s premium added to all winning bids.  (If your winning bid is $300,000, then add $15,000 for a total purchase price of $315,000.)
• The successful bidder will be ushered to a bullpen to be qualified and have his bid confirmed.  Once that’s done that home’s number turns green on the screen listing each auction number.  Otherwise, it goes back for a second time (or a third, as happened twice that night.)

So were there any good deals to be had that night?  Absolutely.  Some homes sold for maybe 15-20% off current market value once the 5% “Buyer’s Premium” was added to the price.  Most of the homes sold for less than a 10% discount.  A few homes sold for market price.  I was fascinated to note how many bidders didn’t have their bid confirmed and the homes were auctioned off a second or third time.  In many cases, the original bidders who came for just that home had already gone home causing the final price to drop $5,000-$20,000 from the first time around.

This type of auction is not for everyone.  There is no safety net.  No inspection period. No disclosures of condition. No termite work. You have to do all of your homework in advance and there is no cooling off period.  Is it worth the risk for a 15-20% discount?  That depends on your tolerance for the risk you’re taking on in exchange for the discount.  If you decide to bid at one of these auctions, make a friend of a contractor so you can have him visit the homes you’re interested in with you beforehand.  Do research on what similar homes are selling for in the neighborhood.  Use your favorite Realtor to help since many auctions will pay a Realtor’s commission at no cost to you.  Most importantly, decide on what your maximum bid will be before you get in the car to go to the auction.  The auctioneer is counting on the fact that you will lose your good judgement in the heat of the moment.  Remember, there is always another house!

Properly done, home staging leads the eye to attractive features and minimizes flaws. This is achieved by cleverly arranging furniture and lighting to create a feeling of space, which lends to the appeal of the property. For vacant homes, rental furniture is used to create living spaces where buyers can imagine themselves. One of the best ways to learn about home staging is to watch Sell this House on A&E. On the show, professional Home Stagers help sellers transform their homes using a little paint, furniture placement, and creativity. The results can be extraordinary.

You can hire a professional Home Stager for as little as $200, or spend thousands. If you’re so inclined, you can try to do it yourself, but we tend to have blind spots when it comes to our own homes. So what about your real estate agent? Can’t a good Realtor give you tips on what to do? Yes and no. Speaking for myself, I can and do give such advice to some clients, but for others I wouldn’t dare. It’s too easy to alienate a seller with advice that’s shall we say, too candid.

The bottom line is: Home staging should be part of your presale preparation. The potential rewards make the small investment in time and money more than worthwhile. There’s only one downside: You might like the new look of you home so much you won’t want to move at all.