New Agent Beta Profiles now Live in Austin

by Steve Crossland, REALTOR in Austin TX on October 3, 2015 · 0 comments

I attended the Presentation in Austin this week announcing the Beta rollout of’s new Agent Profiles. Austin is the only city in the US with this live, though it will soon also be turned on in the state of Rhode Island.

Though not fully baked, I’ve set up my profile. The “Sold Listing are not yet populating, but should be on the map by mid October. There will also be a Team Profile. Here is what it will look like when viewing a map of Sold Listings in Austin.

Map Showing Realtors who closed the sales

Map Shows Which Agents were involved in closed sales. Coming to Austin in Oct

Pretty cool, right? Are Realtors happy about this? Many are not. The Realtor online forums are ablaze with ignorant complainers, moaning and griping about this, and how it’s “unfair” to populate Realtor profiles or Sold Maps with actual closed sales because it makes the Newbies and part timers look bad.

Those of you agents complaining are missing some important data points. Namely, consumers want this. That is a settled question, supported by research and surveys of consumers. Realtor Reviews are here, whether we like it or not.

It was gross neglegence when the real estate industry fought online listings back in the late 1990s/early 2000s. It was the height of stupidity to do so. The void was instead filled by portals. Thus we have the useless but popular Zillow.

Zillow is not consumer-friendly. It exists for one purpose only, to sell advertising space to Realtors so they can appear next to listings they know nothing about. That does not create an informed consumer, nor connect a consumer to a “good” agent in their area, nor is it supposed to. Zillow is NOT consumer friendly. But consumers like the entertainment value Zillow. It’s fun to surf and look at houses. can be way better for the serious consumer though, as its data comes directly from MLS feeds, and now instead of finding an “Advertiser” agent, you’ll be able to quickly rule in those agents who are actually active and relevant in the area in which you live or wish to live. [click to continue…]


Texas Buyer Inspection Deadline to Move to 5PM Instead of Midnight

by Steve Crossland, REALTOR in Austin TX on August 18, 2015 · 1 comment

Inspection DeadlineOne of the more vexing and frustrating aspects of managing a Texas real estate transaction is what we agents call “clearing the Option Period”. The Option/Inspection Period is the agreed upon number of days during which a Buyer can unilaterally terminate the purchase contract. It’s usually 5-10 days. The buyer doesn’t need a reason. It’s a straight up right to terminate, for which the seller is paid a nominal fee, usually less than $500.

The problem is that, per the current contract language, a 7 day Option Period ends at midnight on the 7th day. I don’t know about you, but whether you’re a buyer, seller or agent, none of us like being up at 11:45PM waiting for an Amendment and wondering if the deal is going to crater. It’s one of the stupidest things we do, and nobody likes it, but it happens repeatedly.

A proposed change to the One to Four Family Residential Contract (sales contract) will move that deadline to 5PM on the final day. This makes me very happy. Agents need to learn to take care of business during business hours. Real Estate is not a 9-5 profession, but neither is it supposed to be the graveyard shift at the end of every option period.

From a listing agent standpoint, it’s not our problem, or the seller’s, if the buyer agent and buyer can’t complete their “due diligence” within the first few days of the contract. We do with our buyers because we’ve already talked to the inspector and know his availability, and we have plumbers, electricians, HVAC people who can do followup evaluations same or next day. Every buyer agent worth his or her salt should be providing these resources and pre-established vendor connections to their buyers. Those who can’t or won’t should get out of the business.  [click to continue…]

{ 1 comment }

Zillow and Trulia Remain Irrelevant in Austin Real Estate Market

by Steve Crossland, REALTOR in Austin TX on March 30, 2015 · 11 comments

Both and could vanish tomorrow, completely – websites crash and stay down forever –  and it would make ZERO difference, at all, in the successful sale of any home in Austin TX, or elsewhere in the U.S. Period.

There is no hardship or selling disadvantage created for sellers or their listing agents if their real estate listings do not appear on these real estate entertainment and advertising websites because it is not the purpose of these consumer portal sites to sell homes, but instead to sell advertising to Real Estate Agents.

These consumer sites not only fail to cause homes to sell, the websites fail to create smarter, better educated buyers and sellers. Instead, they create consumers exposed to bad data, and too much of it. Including the ridiculous Zestimate, which everyone knows is inaccurate but which nonetheless remains the “favorite” feature of users, according to Zillow.

Thus, at a Real Estate Syndication panel I attended a couple of weeks ago in Austin, which included a panelist from Zillow, when asked about the fact that these websites often serve to simply confuse and mislead consumers, the response was that this is a good thing for Realtors. The Zillow panelist offered up that, by creating a mis-educated, confused consumer, Zillow is creating an opportunity for the Realtor to step in and straighten things out by filling the gaps and providing correct data and information.

We get to un-confuse the consumer as our value proposition, and for that we should be grateful. So, as a consumer, is it your desire to be confused and mislead, then have a Realtor “un-confuse” you? Or would you rather just get good info from the start?

Don’t get me wrong. These sites are here to stay. Like it or not. Bad and outdated data or not. That cow has left the barn. [click to continue…]


Austin Real Estate Predictions for 2015

by Steve Crossland, REALTOR in Austin TX on January 2, 2015 · 5 comments

Austin home sales 2005-2014

Austin home sales 2005-2014

What will the real estate market in Austin do for 2015?

Most likely, more of the same. More of what we saw in 2013 and 2014 Spring/Summer selling seasons, which was strong price increases caused by limited supply and increasing demand. Especially in the central core areas of Austin but not limited to just those areas. Even homes in Pflugerville get multiple offers now.

The increasing demand is coming from job growth in Austin, which is showing no signs of abating in 2015. Unemployment in Austin is a low 4%. Simply put, barring a major macroeconomic event that affects our local economy and job growth, our housing market will keep chugging along and prices will continue to rise. Nothing will stop it short term, but it will top out eventually and take a breather. Maybe in 2 or 3 years from now.

The recent drop in oil prices will affect Texas to some small degree, maybe Houston mostly, but represents nothing more than a pothole in the road for Austin currently. If anything, it could free up a bunch of construction labor that fled to the oil fields for higher pay, which would help the new home builders increase volume. New home construction is currently restricted by labor shortage and low availability of build-ready lots, which exasperates the effort to meet demand.

Current, Past and Future Values
The median value of a home in the Austin Metro area is now about $250,000. Average value will probably break $350K this summer. A decade ago median sales price was about $150,000 and the average was $225,000. That’s really only a 5% annual increase roughly, which is what we expect over a decade of time, but so much of it has happened the past few years that it feels like too much too fast.

Also, and of concern, much of the appreciation is concentrated in the central “core” areas of Austin proper, which is no longer affordable to service workers or median income families. I sold a home last summer in 78704 zipcode for $290K which sold for $58K 18 years earlier. That’s bumping a 10% annual appreciation rate over two decades. Same with a home we bought in Westlake in the low $300s in 2010 and sold for $500K in 2014. That’s a 10% annual increase over 4 years.

And wages haven’t kept up, so the median income buyer who wants to live in Austin proper, close in, will continue to be pushed out into the suburbs like Leander where a home at or near $200K is still doable, but where they will have to endure ever worsening and soul crushing commutes on our congested roads.

How Should Austintes feel about this?
The value appreciation of Austin home prices gives me mixed feelings. [click to continue…]


And just like that, we’re moving again

May 23, 2014

Have you ever woken up on a Friday morning with no intention of moving and by 5PM that day have submitted an offer on a home? That’s what Sylvia and I recently did, and it’s not the first time. We really thought our current place in Westlake would be our “forever” retirement home. We’ve slowly […]

9 comments Read the full article →

Every Austin Real Estate Offer is an Emergency Now

February 11, 2014

Life as an Austin Realtor requires a varied set of skills. Add to those now the ability to operate under constant Red Alert conditions if you hope to be an effective Buyer’s Agent. Here is the latest example. Sylvia had buyers in from out of town last Saturday. Both houses they liked already had multiple […]

5 comments Read the full article →

Enjoying the Quiet Uncrowded Austin

January 20, 2014

I often experience something many Austinites will never know. A quiet uncrowded Austin. No traffic. No noise. No crowds. Just peaceful serenity and bliss. There is no turning back – no solution – for Austin’s traffic problems, congestion, growth, commercial encroachment into central neighborhoods, and myriad other small and big annoyances caused by Austin’s economic […]

1 comment Read the full article →

Austin City vs Metro Home Prices 2013

January 12, 2014

When you read a news article about Austin real estate that reports average and median home prices, the values quoted are often those from total Austin MLS sales. Those sales figures are compiled from the entire Austin MLS service area, including suburbs, nearby cities as well as some far flung areas. The “Austin MLS” might […]

2 comments Read the full article →

Do Austin Production Builders Differ in Quality?

January 9, 2014

Buyers will sometimes ask “is Builder X a good builder?” My answer is that your builder’s brand name doesn’t matter enough to make it a decision point in your new home purchase decision. In other words, if a hypothetical buyer is torn between two similar to-be-built home options in the same neighborhood, I will tell that […]

2 comments Read the full article →

Austin Real Estate Market 2014 to Remain on Fire

January 7, 2014

Sylvia and I usually attend an annual Austin Real Estate Economic Update to find out what the coming year holds. This year, I exclaimed to her, “Why bother?  It’s going to be full tilt boogie, just like 2013“. I mean, Austin is rumbling along with all cylinders firing. There is nothing I need to hear […]

2 comments Read the full article →