Don’t settle for mediocracy!

If you're thinking about purchasing or selling a property, please reach out to me at michaelgacek@edinarealty.com. I bring with me an extensive 38-year track record, boasting 995 successfully closed sales.

It appears that authentic customer service and expertise are becoming increasingly scarce these days. Nonetheless, the valuable lessons imparted by my remarkable customer service mentors during my initial job at the age of 16 have remained etched in my memory. 

Here are the components that make up a high-quality service provider.

Knowledgeable: A service provider who possesses the necessary knowledge and expertise in their field is essential. They should have a deep understanding of their area of expertise, as well as an up-to-date knowledge of any changes or advancements in their field.

Ethical: Ethical conduct is essential in any professional service. It is important that the service provider operates with honesty, integrity, and transparency, and that they follow ethical standards set forth by their industry.

Reachable: A service provider must be accessible to their clients. They should be available to answer questions, provide updates, and address concerns in a timely and efficient manner. Clients should feel confident that they can reach their service provider whenever necessary.

Thorough: A thorough service provider pays attention to detail and ensures that all aspects of their work are completed to a high standard. They should take the time to understand their clients' needs and provide solutions that meet or exceed their expectations.

Personable: Finally, a personable service provider is one who is easy to work with and has good communication skills. They should be friendly, approachable, and able to establish a rapport with their clients. This helps to build trust and confidence in the service provider's abilities.

I'm a dedicated realtor, and if you're looking for these qualities in your home buyer or home seller representative, feel free to reach out to me, as these qualities define who I am.

Sincerely,
Michael Gacek

Realtor since 1985

michaelgacek@edinarealty.com. 

Should a seller read a "property love letter" from a potential buyer?

If you're thinking about purchasing or selling a property, please reach out to me at michaelgacek@edinarealty.com. I bring with me an extensive 38-year track record, boasting 995 successfully closed sales.

Dear Edina Realty Legal,

I’m selling my home and a potential buyer sent me a letter with their offer talking about themselves and explaining what they like about the home. Is it okay for me to read it?

A buyer love letter

This type of letter is often called a “buyer love letter” and it’s a common buyer strategy to include it in an offer to persuade a seller to sell to them. While it is not illegal for you to read it, it does pose potential pitfalls, especially if it provides certain personal information about the buyer.

How “protected classes” may come into play

The Fair Housing Act, as well as the Minnesota Human Rights Act and the Wisconsin Fair Housing Law, prohibits discrimination in housing based on various “protected classes.” Both federal law, as well as state-specific laws, offer the same types of protections.

The identifiers that are covered by these laws include someone’s race, color, creed, religion, national origin, sex, marital status, disability, receipt of public assistance or any other lawful source of income, sexual orientation, gender identity, familial status, ancestry, age, and status as a victim of domestic abuse, sexual assault, or stalking.

While the exact definition of what is considered a “protected class” differs slightly between states and may be subject to more specific or different restrictions in certain cities or for certain properties (like senior living communities), it is a good idea to be mindful of all these protected classes no matter where you may be located.

Accepting or rejecting an offer based on the buyer’s personal details could be illegal, even if you aren’t doing so with any intention to discriminate. Unconscious or implicit bias is no less harmful than overt racism or other types of discrimination, and either can result in fair housing law violation.

Our advice

You should accept an offer based on objective offer terms, like price or closing date, not what “type” of person makes the offer. Basing your decision on any information related to any of the protected classes listed above is illegal.

It’s up to you to decide whether you want to review these types of letters with offers on your property or direct your agent to not provide them to you. You should talk with your agent about your decision on this before the offer process begins.

Whatever you decide, you need to be consistent. If you decide you want to consider this type of information, it’s important to be careful that you are not making any decisions based on any protected class characteristics of the buyers.

The Edina Realty Legal Department serves as in-house counsel for Edina Realty and does not represent private clients. This Insight is not intended to provide legal advice..

If you have other real estate questions, I have the answers; and if I do not, I have a superb legal department at my disposal who does.

Michael Gacek  

 

Minneapolis Proposing New Truth in Sale of Housing Requirements for Energy Efficiency

This is a VERY BIG DEAL that will impact every Minneapolis home owner! If implemented in 2020, this proposal has BIG consequences for Minneapolis homeowners when they go to sell, their “to-do” list could get much longer and more costly!

Here is where I stand on this issue. While I feel this proposal would be good information for a homeowner to provide when going to sell and a landlord when going to lease a unit, but the timing, forcing this onto a home owner when wanting to sell is not good. A homeowner has a long to-do list the way it is, and this will add to their list and will be costlier and add more stress.
Many homeowners, including me with homes built in the early 1900s have old windows, lack of insulation and over 20 year old furnaces and with these test being performed at time of the Truth-in-Housing, it will give very little time (no time if in winter) for a homeowner to address issues and therefore when a buyer views the report, it will open up a negotiating can of worms and home owners could lose a substantial amount of their equity and or not be able to sell.
This should be a voluntary program to have done when a homeowner wants and have time to do the improvements and then have a recheck and get a certificate to show when they decide to sell their home.
The City of Minneapolis could come up with incentives for homeowners to want to do this testing!

Learn more @ http://minneapolismn.gov/sustainability/buildings-energy/index.htm?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term= 

Minneapolis Association of Realtors concerns and recommendations as of 1-2-2019 -  https://www.mplsrealtor.com/blog/minneapolis-proposal-adds-residential-energy-scoring-disclosures-to-tish/?fbclid=IwAR21_GjsT33ZMeuZYjYy1DRMz70Gshvb303__KhXqdmmeicxOaix3kXneNY

IMPORTANT NEWS - EVERY MINNEAPOLIS HOMEOWNER/LANDLORD MUST READ!

IMPORTANT NEWS - EVERY MINNEAPOLIS HOMEOWNER/LANDLORD MUST READ!
“Time of Sale” and “Time of Rent” Energy Disclosure proposal to be implemented in 2020!
The proposed time table could be overwhelming and costly to home sellers and landlords.
Read attached photos and yellow highlighted lines and read more @
http://www.minneapolismn.gov/su…/buildings-energy/index.htm…

Next meeting is Monday, January 7th, 2019
6:30pm - 8:00pm
Minneapolis City Hall, Rm. 319
350 S. 5th Street Minneapolis, MN 55415

PRO-TIP for Multiple Offers

If you are a buyer and you are in a multiple offer situation, ask your agent to ask the listing agent if any of the multiple offers are the listing agents. If the answer is yes, you will also want to know if the listing agent and the seller have possibly agreed to a “Variable Rate" commission, that should be disclosed in the RMLS.

A variable rate commission arrangement between the listing agent and the seller can put your offer at a disadvantage because the commission paid to the listing agent may be less than paid to a selling agent therefore even if your offer is for more money, it may not be enough to offset the difference in commission paid to the listing agent.

Learn more at Section 6.2 of this link - https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe5c4d51cd4c47520bade/1456203204779/Rules-and-Regs-10-15.pdf   

How much do you think you need to make in order to afford a median-priced home in our area? You may be surprised.

https://www.bizjournals.com/twincities/news/2017/12/04/what-salary-do-you-need-to-afford-an-average-home.html

Potential Home Buyers Taking Photos and or Videos of Your Home!

Did you know it has been common for potential home buyers to take photos and or videos of homes they are looking at?

I did not because only a very few buyers of mine over the years who wanted too I would not allow because I did not think it was ethical without the listing agent’s permission!

Now, as of 8/1/2017 there is new language in the listing contract that gives the potential buyers (and others who have authorized access) permission to take photos and videos unless the sellers do not agree then this language can be deleted. If a seller does not allow for photos and or videos to be taken by potential buyers, this must be conveyed to all agents showing the property. Keep this in mind when you are considering listing your home for sale.

There has also been a trend of sellers recording showings and open houses, often with hidden cameras. While it may be legal to videotape what is happening in one’s home, there is a Minnesota law that makes it a crime to intercept a conversation without the permission of at least one party to the conversation. The revised listing contract contains new language that warns the seller about this law.