Stacie Scott Turner

Let Stacie fill you in as she breaks down this week's events, from ridiculous real estate to Lynda's love for Ebong.

on Sep 16, 2010

Real Estate for Dummies

For real, I am no joke when it comes to my real estate practice. I love the benefits of the profession - the freedom of running your own business and unlimited income potential - but it comes with a price.

Any successful agent knows this gig can be tough on family, as I routinely put in 50+ hours per week. I work nights and weekends on the regular - so sadly, I miss many dinners with the family. Sunday brunch after church?  I think not - got an open house from 1-4! Needless to say, my time is valuable, and I don't waste a minute of it.

When talking real estate, I draw a thick line between business and personal. As a friend, I can freely give my personal opinion (like saying I don't see the Virginia suburbs for Lynda's lifestyle). As a realtor, my personal opinion doesn't matter; I work to meet my clients'

objectives wherever (i.e. McLean is a great buy). I am always happy to talk to friends and family about real estate matters, but I also recommend caution when considering hiring an agent you know too personally. As a buyer's agent, that friend must be willing to share their most sensitive financial information with you, which can be difficult for some (mission impossible:  Salahi). When listing a friend's home, it can be difficult to explain why you think your friend's place isn't anywhere close to what they think it's worth! This is why I am extremely numbers based as a professional - the market dictates value, not your faux-painted accent wall.

I somewhat reluctantly went out house-hunting with Tareq and Michaele. Defunct (but gorgeous) wineries don't generate cash flow. Michaele doesn't come from wealth that I am aware of - so I am SERIOUSLY doubting their money making mojo! An $8 million dollar home? Are you kidding me?

For perspective, a qualified buyer will need proof of income around $2.0 million annually to even entertain a contract. Regardless of price, my serious buyers are prepared, and quickly produce such documents. Know this: your buy/sell agent's market reputation is a BIG factor at the table. People know that my clients can do the deal. I am baffled about what "business" they can work this deal through. Time is money. I don't have time, and now, I don't believe they have money. See "Salahi-ism" above.

Legitimate clients, please go to My team and I are at your service.