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Danilo Bogdanovic
Danilo Bogdanovic
Danilo Bogdanovic is a Realtor in Northern Virginia and author of LoudounScene.com and LoudounForeclosures.com. Danilo serves on various committees with the Dulles Area Association of Realtors and the Virginia Association of Realtors. He also volunteers with the American Diabetes Association National Capital Tour de Cure as their Social Media Consultant.
By Danilo Bogdanovic on November 6, 2009
Sure, you’ve all heard by now…the first-time home buyer federal tax credit has been extended through March 30, 2010 and has also been expanded to include many existing home owners. Many are shouting, “WOO HOO!”. But I’m not.
No, really..we’re serious! SIKE!
For some time now, NAR and the government have been screaming and yelling, “You’d better hurry up and buy a house before the tax credit expires Nov 30!” Yet, before the deadline even hit, the tax credit was extended and expanded.
You know what this says to all the folks who jumped through hoops to buy and settle on a home…
Posted in News, Real Estate | Tagged home buyer tax credit, real estate tax credit
By Danilo Bogdanovic on October 24, 2009
Could today’s housing market be a false market?
Between 2006 and the end of 2008, the market in the Washington, DC metro area and most of the US was horrible. But then 2009 rolled around and the market did an abrupt 180. Rates and points started falling. Inventory started plummeting. Buyer demand increased. And prices started rising.
Today, the market is insane. Buyers are fighting 5, 10, 15+ other offers when bidding on properties. Even being the highest offer doesn’t mean anything anymore because people are submitting all cash/non-contingent offers – even on properties priced above $700K. Prices in the Washington,…
Posted in Economy, Real Estate | Tagged Economy, Mortgage, real estate market
By Danilo Bogdanovic on August 21, 2009
None. That’s right…NONE!
No, I don’t mean not wearing any clothes (save that for the French Riviera or a deserted beach somewhere). I mean that it’s not your clothes that make you a “professional”.
There are people that wear suits that fit them 30 lbs ago and there are people that know what a tailor is. There are people that think “dry clean only” means the gentle wash cycle and low heat and then there are people who know their local dry cleaner owner by name. For the sake of this post, I’m going to assume that you’re the latter…
Posted in New Media, Realtors | Tagged clothes, line, media, on, outfit, presence, professional, profile, social
By Danilo Bogdanovic on June 17, 2009
Are we witnessing the greatest example of collusion in US, if not world history right before our very eyes?
col-lu-sion [kuh-loo-zhuhn] – noun …a secret agreement, esp. for fraudulent or treacherous purposes; conspiracy: Some of his employees were acting in collusion to rob him.
Currently, the number of bank-owned/REO properties on the market is estimated to comprise only 30 percent if not only 5 percent of the total foreclosed property (REO) inventory on banks’/financial institutions’ books. The remainder of the REO inventory is being held back from being sold by the banks/investors who own them.
But why?
An immediate sale of all properties on the…
Posted in Mortgage | Tagged bank, collusion, foreclosure, housing, lender, market, moratorium, Real Estate, REO, values
By Danilo Bogdanovic on April 28, 2009
It seems that whenever I speak with someone about the real estate market, they end up quoting some national media’s latest story on the real estate market. That usually leads to an explanation (and often times healthy debate/argument) about how the article they’re quoting is just “noise” and not relevant because our local market conditions are very different from the majority of the U.S.
Noise is distracting and can be harmful. It can cloud your judgement and cost you thousands (literally). It’s like a jackhammer constantly going off outside of your window while you’re trying to make an extremely important decision.
Much of mass media’s articles are “noise”. They run national, not local news stories so,…
Posted in Highlights, Real Estate | Tagged hyper local real estate, local real estate, mass media, relevant housing information, relevant news
By Danilo Bogdanovic on April 2, 2009
I ran across some buyers a while back that were telling me they weren’t happy with their buyer’s agent. They ended up firing their agent and hired me because they were “not pleased with the buyer’s agent attitude nor ability”. The odd thing is that the buyers asked me if I would be willing to give their previous agent a referral fee.
Being that I was a bit confused by that, I asked them why. They said that they “felt bad” because the agent had put in time and effort and “wouldn’t make any money for doing so”.
When I asked them for more detail on what the…
Posted in Real Estate | Tagged agent customer service, broker customer service, home buyer expectations, real estate agent customer service
By Danilo Bogdanovic on March 16, 2009
At one point or another, all of us have thought, “Man! That agent has no clue what they’re doing!” or “I can’t believe that agent did that – that could cost their client or them (insert here)!” Personally, that thought is often followed by, “Where the heck is their managing broker and how have they not caught this and corrected it?”
I do not believe that ignorance is an excuse so I blame the agent. But I equally blame their broker. Their broker is supposed to be overseeing and managing them (hence the name “Managing” Broker).
Are brokers really “managing” their agents?
Some brokers are not – they’re…
Posted in Highlights, Marketing, News, Real Estate, Realtors | Tagged agent liability, broker liability, broker supervision, brokers, managing brokers
By Danilo Bogdanovic on February 25, 2009
“Fraud”
“Fraud” is a powerful yet, often overlooked word by some real estate agents and brokers. The crazy thing is that one of the greatest fraud witch-hunts is about to being and one (or many) real estate agents and brokers WILL be made an example of by the government/FBI.
“You’ve been reading too many books!”
No…not really. A few months ago, the two FBI agents heading the Northern Virginia white-collar crimes division of the FBI gave a presentation at my local Realtor association. They made it very clear that the FBI has started to investigate mortgage and housing fraud in Northern VA and across the U.S.…
Posted in Ethics, Highlights, Realtors | Tagged fraud, housing fraud, mortgage fraud
By Danilo Bogdanovic on January 22, 2009
It’s a hot summer day (yes, I know that’s hard to imagine right now, but work with me here)…you’re exhausted, dehydrated and dying for a drop of liquid to quench your thirst.
Up ahead, you see a stand with a large sign above it that says, “Quench Your Thirst!” and there’s tons of people around it. On the stand is a large glass pitcher with a bright red liquid inside of it sitting in a bucket of ice. The pitcher is covered with condensation because the liquid and pitcher are ice cold while the outside temperature and humidity rival that of New Orleans in August.…
Posted in Real Estate, Realtors | Tagged change in the real estate industry, drink the Kool Aid, real estate innovation, traditional real estate
By Danilo Bogdanovic on December 1, 2008
It’s obvious that the real estate industry is changing. And it’s changing more rapidly than ever before. But where is it going? And where does it need to go?
I touched upon things such as Barrier To Entry, Oversight and Enforcement in part one and Technology and Marketing in part two of this three part series. In part three, we deal with the brokerage firm business model.
Past and Current
The current brokerage firm business model has been around since the 1970’s. It’s focus is on,
high commission splits
tons of junk fees
brick-and-mortar offices
branding the brokerage, not the agent
little support…
Posted in Ethics, Highlights, New Media | Tagged agent-centric, broker-centric, brokerage firm model, future of the real estate industry, white label brokerage
Consumerism, Geo-mapping columnist
Marketing columnist