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Showing posts with label realtor. Show all posts
Showing posts with label realtor. Show all posts
Tuesday, November 27, 2012
Spacious and Updated!
Tuesday, November 13, 2012
Custom Built Home on 9 Acres!
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Tuesday, December 6, 2011
To sell alone, or not to sell alone?..THAT is the question!
FSBO vs. Realtors®
Not too long ago, in a not so
distant land, people who were in need of selling their home hardly considered
doing so without that services of a Realtor®. It’s hard to believe, right? Back
then, prices were constant and real estate agent commissions were not as
outrageous as they can be nowadays. In today’s market For-Sale-By-Owner (FSBO)
listings are increasing. I would advise you to weigh ALL of your options
though.
So you want to sell your house? You
go to your local Home Depot, Lowe’s, or Wal-Mart and grab you a nice FOR SALE
sign. As you drive the stake into your front yard, you are feeling a sense of accomplishment;
you put an ad in your local newspaper, sit back and let the “magic” happen,
right? Wrong! True the majority of home
sales are made by word-of-mouth, passer-bys, local ads and such, but the truth
of the matter is your home is not equivalent to your ’57 Chevy sitting in a
vacant lot awaiting a collector of old cars to come along and show interest in
it. In fact, before even purchasing “FOR
SALE” signs a seller should be knowledgeable of
the trends in the local real estate market in hopes to set competitive prices
for their home. In addition to knowing the trends you have to also be familiar
with local and state laws, disclosures, closing points, statutes regarding
assessments, and title requirements. There are a lot of local resources such as
your local building commission and title offices, local web sites that list
FSBOs, and even some how-to books and manuals from your local library.
The real deciding factor on whether
to list as a FSBO or get a Realtor® to assist in the process could very well be
based on time vs money. With a Realtor®, you can be assured that your required
paperwork is properly filed, assessments and inspections are scheduled, and
that your property is properly marketed within your local Multi-listing Service
(MLS). An agent can also take the guesswork and hassle out of negotiating closing
costs, although the average for an agent commission is 4%-8%. Depending on the
price your property is sold for this can be around $8,000 or more (for a
$200,000 property).
I would strongly suggest using a Realtor®,
(not just because I am one! J)
but for the fact that Realtors® can speed the process up due to our knowledge
of handling loan and governmental bureaucracies. When looking for the “right”
agent, a seller should look for someone who has a nice history and leads in closings within their real
estate office, someone who is readily equipped with a list of neighborhood that
they have sold, and someone who has a list of clients that would highly
recommend them.
I hope this article made some impact in your decision to
choose a Realtor® or do a FSBO.
Feel free to contact me with any questions regarding Selling your home or with any real estate matter! I will be more than happy to assist
you in your decision, no matter what route you choose to go!
Wednesday, October 26, 2011
Why Use a REALTOR®?
All
real estate licensees are not the same. Only real estate licensees who
are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called
REALTORS®. They proudly display the REALTOR "®" logo on the business
card or other marketing and sales literature. REALTORS® are committed to
treat all parties to a transaction honestly. REALTORS® subscribe to a
strict code of ethics and are expected to maintain a higher level of
knowledge of the process of buying and selling real estate. An
independent survey reports that 84 percent of home buyers would use the
same REALTOR® again.
Real estate transactions
involve one of the biggest financial investments most people experience
in their lifetime. Transactions today usually exceed $100,000. If you
had a $100,000 income tax problem, would you attempt to deal with it
without the help of a CPA? If you had a $100,000 legal question, would
you deal with it without the help of an attorney? Considering the small
upside cost and the large downside risk, it would be foolish to consider
a deal in real estate without the professional assistance of a
REALTOR®.
But if you're still not convinced of the value of a REALTOR®, here are a dozen more reasons to use one:
- 1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.
- 2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
- 3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning. schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
- 4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
- 5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR®, title company or attorney can help you resolve issues that might cause problems at a later date.
- 6. Your REALTOR® can help you in understanding different financing options and in identifying qualified lenders.
- 7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.
- 8. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
- 9. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR® markets your property to other real estate agents and the public. In many markets across the country, over 50 percent of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.
- 10. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The NATIONAL ASSOCIATION OF REALTORS® studies show that 82 percent of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
- 11. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
- 12. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
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