Posts Tagged ‘Real Estate Agents’

Although the home selling process differs depending on your location, there are some steps that every seller should take before putting his house on the market.

1. Pre-approval for your home loan

Have you heard the horror stories of sellers who signed a contract to sell before they even know if they could qualify for another one? As the story goes, either they aren’t able to sell at the desired price so they can’t afford the home they want or even equal to what they currently have, or else they don’t qualify financially for a loan the way they did the last time they purchased. They end up either renting or buying something that isn’t what they’d hoped for. Before you decide to sell or accept any kind offers, you should get pre-approved by a lender. It’s also a good idea to research the market where you’d like to live so that you get an idea of what it will cost to buy your new home. Questions to ask yourself could include: What’s the difference in price on a step up? How do homes already for sell compare to your own? What kind of price are you looking or hoping for and is it realistic for what you want to purchase? You can also start looking both at houses that are similar to your own and those that are similar to what you want. Compare prices. You might have to pick up the newspaper or some For Sale magazines (usually free). You can also begin calling agents and other resources.

2. Calculate the cost of your mortgage payoff

You’ll need to know the amount required to payoff your mortgage in order to sell. You can contact your lender for this information.

3. Figuring the worth of your home

Most real estate agents will gladly help you determine your home’s fair market value, however you might consider ordering an appraisal. Keep in mind that although an appraisal costs money, (and the agent does it for free) the appraisal will give you a more appropriate idea of your home’s value and might be worth the extra cost.

4. Estimate Your Costs to Sell

Although you’re selling to make money, there is some cost to you in order to sell. Some ideas of things you’ll need to pay for and probably want to figure out the cost of include:

Commission to a real estate agency if you plan to use one to help you sell

Taxes on the sale

Some seller required fees which might include inspections, surveys, etc.

Advertising costs to sell, signs, fliers, etc.

Closing costs (your real estate agent can give you an idea of these costs)

5. Estimate Your Costs to Buy a New Home

When you apply for pre-approval of a new loan, your lender should disclose to you an idea of estimated costs to acquire a new home. Some of these costs could include:

Down payment

Home inspections

Moving expenses

Title and policy work

Hazard insurance

6. Estimate Your Proceeds

There should be some profit but here are some ideas to consider before estimating the final amount:

Make all repairs so that there will be no reason for a potential buyer to submit a lower offer. This does not mean cosmetic repairs are required, but real repairs such as a broken heater, etc.

If your home is not yet paid off, be sure to deduct your mortgage payoff amount.

Deduct all selling costs from the total payoff amount.

7. Make Necessary Repairs

Most people don’t think of their house as a “fixer-upper” but unless you want your house thought of this way, you may need to consider things that are obviously broken and repair them before you try to sell. Otherwise your buyer might think they have a reason to submit a lower offer.

8. Preparing the House for Showing

Most houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and appliances, and a clutter-free atmosphere are essential if you want the house to appeal to buyers. Very few houses are always in mint condition. Your house may need a little cleaning and organizing to help it become extraordinary. Great curb appeal, fresh paint, arranging closets or cabinets and clean appliances, drawers or windows help make your house appeal to buyers. Do whatever you can to make your house clutter-free and cleaner than it usually is. This is great preparation for showing the house- be sure to maintain this level of cleanliness for as long as it takes to sell your home.

9. Becoming Comfortable with Allowing People In

If you are really ready to show your house, you have to learn to be comfortable with people coming through… some of these people may eventually live there! Don’t ever ask to be present during a showing unless there is an urgent need for it. Why? Because lurking sellers make nervous buyers. No one feels comfortable exploring or inspecting a house, knowing the owner is watching over their shoulder. Also you need to have your house ready for showing at any time, day or night. Some agents won’t even bother showing a home that needs 24 hours notice. Make the house accessible, make yourself removable, and remember to be prepared for showing at a moment’s notice.

10. If you’re ready to sell, LIST IT!!

If you think you’re ready to sell, you probably want to make your house visible to potential buyers. You might decide to sell your house for sale by owner. If so, you might want a comparative market analysis (CMA) to help you set your price. Also explore all types of marketing tactics, including print, web and other types of advertising. Although you pay a commission, there are definite advantages to using an agent. Before choosing an agent, here are some things to understand about agencies and to be sure your house is getting the visibility needed:

Find out what is the commission rate. You can make several phone calls and compare agencies offering the same services.

Get listed on the MLS (multiple listing service). Find out if the agency belongs to more than one MLS. In some areas there’s an overlap of popular neighborhoods, making multiple memberships important.

Find out how long they want you to list with them, keeping in mind that the time is usually negotiable.

Find out the average length of time it takes to sell a house in your area. Find out the company average. Compare with other company averages for your same area.

Find out how long the (potential) listing agent has been licensed to sell real estate. Find out what kind of success rate he has.

Find out what percentage of the agency’s listings sell during the initial listing contract period. This initial period can be as long as six months.

Find out how often you can expect buyer feedback, whether it be after every showing, weekly, more often, etc. Find out the means for this feedback – written, online, etc. Buyer feedback is a very useful tool because if everyone makes the same negative comment, you might consider resolving the problem.

Find out if the agent will hold an open house for other real estate agents or for buyers. Find out what other marketing tools he might use.

Determine how showings are to be handled. If you put restrictions on showing, you may cut down on the number of buyers seeing your home, but you need to be sure you can handle showing or leaving at a moment’s notice.

If you have pets it is an excellent idea to find a place for them during showings. If you have an indoor pet, think of taking it with you when you leave for a showing; if it’s an outdoor pet, tie it up outside to ensure both the safety of your pet and the buyer.

Consider a lockbox for times when you aren’t available to be reached. Many agencies place a key inside a box that is secured to your home and then only agents have a key to open the lockbox. Helps your home to be available more, even if you’re available less.

If your new home will be in the same area, ask the agent any questions you might have as a buyer. You may choose to use the same agent to buy and sell.

Real estate leads are as good as gold to a real estate professional – literally. The real estate leads you follow up with today are your clients tomorrow and your paycheck a month from now. Much of your time as a real estate professional is spent generating real estate leads and converting those leads to clients. The advent of the Internet and its emergence into main stream culture brought a new tool to real estate agents in the late 90s: online lead generation services.

Nowadays, the majority of people looking to buy or sell a home or do anything real estate wise are going to the internet first. Years ago, people would get ready to buy or sell, and then walk into a local Realty office and get themselves a real estate agents. Now, they can start researching real estate anywhere from 3 months to 5 years before they actually make a move! That means real estate professionals need to come up with new ways to catch these real estate leads early, so they have time to work them and turn them into clients. There are two major ways to do that now: purchasing a lead generation service and paying for real estate leads and creating your own website with contact pages to generate your own real estate leads.

Which way is better? Truthfully, if you’re not doing both, you’re not being as successful as you could be. Any real estate professional who wants to be a top producer NEEDS their own personal website with homeowner information, contact forms, a blog, etc. That way real estate leads can FIND you on the web.

On the other end, the majority of top producers out there not only have their own website, but they also subscribe to one or more lead generation service, such as HouseValues or GetMyHomesValue. Companies such as these sell real estate leads to agents either at a monthly subscription price, or having the agent pay per lead. These services set up websites offering homeowners free home value information in exchange for their contact information. Basically, a homeowner goes and fills out a simple form about themselves, their contact information and their home and submits it to the company’s website. The company in turn, gives this “lead” to whatever real estate professional they have subscribed in that lead’s area and it is up to the real estate agent themselves to work up the value and follow-up with these real estate leads.

Each lead generation company does things a bit differently: for instance, GetMyHomesValue offers exclusive leads – where the lead is given to one and only one agent in the area, whereas other companies out there will sell the same real estate leads to several different agents. HouseValues has extensive e-mail drip campaigns and scripts to make follow-up a bit easier for agents, while GetMyHomesValue has their staff attempt to contact the leads several times for the agent and then leaves the rest of the follow-up to the individual agent.

The criticism most of these lead generation companies receive has to do with what actually constitutes real estate leads. Because these “leads” are filling out information online, they can often give fake information to avoid being contacted. This then makes it harder for the agents to follow up with the leads.

The successful agent, however, does not give up with confronted with real estate leads that give a property address and e-mail address, but a bad name and number. A great agent will exhaust all options of follow up before scrapping ANY lead, such as using public directories like the White Pages online, tax records of the property, reverse look-ups, etc. They will e-mail the lead on a weekly basis and even stop by the property listed in order to determine who actually submitted the lead.

What happens if the owners of the property claim they did not request their home value information, nor are they looking to sell? The no-so-hot agent will be angry at the waste of their time and blame the lead generation company for selling bogus real estate leads. The HOT agent will introduce themselves anyway, offer their services in any way they can and hand out a business card, then lead the home content in the knowledge that although they may not have gotten to the bottom of the lead, they did just add another prospect to their pipeline of real estate leads.

Online lead generation tools are a HUGE asset to real estate professionals – when used correctly. To be successful with real estate leads gathered online, you’ve got to be ready to work hard and long. You may not convert the lead for 6 months, a year, even two years, but as long as you’re working your real estate leads and keeping your name in their head, you’ve got a leg up on the competition.

Real Estate Agents…..

Who Are They…

Real estate agents are professionals instrumental in connecting the buyer with the seller.

Additionally, many real estate agents manage rentals wherein they introduce tenants to landlords and oversee the maintenance of the property on behalf of the landlords.

In most areas real estate agents are required to be highly educated, licensed and are regulated by a governing body.

Some real estate agents are also Realtors.

To use the title Realtor, a real estate agent must be a member of the National Association of Realtors which in addition to a number of other requirements, requires Realtors to adhere to a strict code of ethics and offers Realtors additional educational and designation opportunities.

Though not required by rule or law, it might be a wise decision to seek the services of a Realtor.

What Do They Do….

Real estate agents bring together two or more interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission for their services.

For sales transactions, they charge commission to the seller while for rentals, commission is typically charged the landlord.

Real estate agents generally calculate their fee as a percentage of the selling price (in the case of a sale) and as part of the rent for rental units.

How Do They Do It…

People who want to sell or rent their property leave details of their property with the real estate agent.

Along with all property details the real estate agent will typically have keys to the house to facilitate showings.

The other interested party (i.e. the buyer/tenant), gets access to this information and to the property by contacting the real estate agent.

That’s how the real estate agent becomes a hub of information.

Contrary to some common misconceptions, real estate agents typically represent the seller or the buyer but rarely both.

Why Should I Use One…

First and foremost, to protect yourself. Real estate transactions are highly regulated, highly paper (document) intensive transactions.

The real estate agent possesses an in depth knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the buyer, the seller and the law.

Because real estate agents are most familiar with local real estate market conditions, it is wise and makes sense to seek the advice of one to get an idea of the current trends and pricing for properties within that market.

A good real estate agent will know the prices (or price range) of various properties of different types and at various locations within the region.

Because of the real estate agent’s knowledge and expertise, property sellers often get a few thousand dollars more for their property.

Many home seekers, including seasoned real estate investors use the services of real estate agents to locate the best real estate bargains in the easiest and quickest manner.

Furthermore, the best agents analyze the wants and needs of a home buyer/tenant and provide valuable input as to the kinds of properties available to them within their budget. Therefore, a good real estate agent will not just present a list of available properties to the buyer/tenant but will actually discuss their needs and make suggestions.

The good real estate agent, working in this manner benefits in at least two ways…

First and most obviously, when the real estate agent is able to successfully complete the transaction the commission is earned and the real estate agent is paid…

and secondly, if they make the customer/client happy they earn a good reputation and often receive referrals (hence more business).

Worth Noting…

It is worth noting that there is a myth floating around that real estate agents only work on behalf of the seller, buyer beware.

This is not written in stone nor is it always the case. Real estate agents are, in most regions, highly regulated.

With few exceptions, real estate agents work either for the seller (as is the case with many listing agents) or for the buyer (as is the case for a buyer’s agent).

Additionally, some areas allow for dual agency where an agent can work for both the seller and the buyer or as a transaction broker where the agent represents the transaction itself and neither the seller nor buyer individually.

However, in the case of dual agency/transaction brokerage, note that rule, regulation (law) and ethics do not permit the agent to act in favor of either party while in detriment to the other.

If you are unsure of the relationship between you and your real estate agent, do not hesitate to ask.

Do you have a home in Buford, Georgia you need to sell quickly?

Have you been searching the Internet looking for a way to someone to buy your Buford house fast or some way to sell your house fast? Many sellers need to sell their house fast, but don\’t know where to turn. Luckily you\’ve found the right \”We Buy Houses Blog\” to sell your house in 7 days or less! WeBuyHouses.net is your number one source for buying houses in Buford, Georgia for fast cash or by taking over your existing mortgage payments. We can help you sell your house fast by buying your house fast!

How to Sell Your Buford Georgia House Faster Than Ever! (How it works) Once you\’ve completed our Seller Questionnaire providing your contact information and telling us about your Buford house for sale, one of our professional home buyers will contact you by phone or email about buying your home. If your home meets our purchase criteria, we\’ll schedule an appointment to come out and see your house and make you one or more offers to buy your house on the spot! It\’s that simple.

Who we are. WeBuyHouses.net a group of professional home buyers in Buford, Georgia and around the country that specializes in purchasing houses quickly for all cash or on other creative terms. We are not real estate agents who want to list and sell your home for a commission, so there is never any broker fees or real estate commissions. All you have to do is tell us about your Buford home for sale so we can possibly buy it. That\’s how simple it really is!

We can save you time and money. We know that selling your home can be an expensive, time consuming and complicated process. We understand your situation. If you need to sell your Buford home fast, we are your number one solution. Our local, professional home buyers can buy your house in 7 days or less once you\’ve notified us of the Buford home you have for sale. We can pay all cash, take over your payments or lease-purchase your house immediately! We will handle all of the paperwork, make all the arrangements and close within a few days if necessary. You\’ll get a quick sale with no hassles, so you can put your house selling worries behind you once and for all. There will be no more stress and no more home selling headaches.

We buy houses in any situation. If you are selling your Buford GA house due to divorce, illness, unemployment, relocation, behind on payments, bankruptcy or foreclosure, we\’d like to help you find a solution that fits your unique home selling situation. We specialize in finding creative solutions to tough real estate problems that Realtors and other home buyers won\’t touch.

We buy houses in Buford, Georgia. We also buy homes in Cumming, Duluth, Suwanee, Dacula, Sugar Hill, Norcross, Lawrenceville and other surrounding areas. We also buy houses in cities and towns across Georgia such as Atlanta, Augusta, Macon, Savannah, Valdosta, Gainesville, Athens and we want to buy your Georgia house too!

We buy Buford Georgia houses of all shapes and sizes. We purchase all types of property, whether it\’s a new house, an old house, a big house, a small house, a pretty house, an ugly house or a house needing major repairs… We like to buy them all. We buy as many houses as we can in Georgia and are always looking for more houses to buy.

We are your best solution to sell your home fast. If you\’ve tried to sell your Buford home for sale by owner and failed or you have listed your house with a real estate agent who was unable to sell your home, we are your best solution to get your home sold quickly. Sell your house to us in 7 days or less and avoid all the hassles and uncertainties of trying to sell your home yourself or through a real estate agent.

We are your ideal home buyer. If you sell your home to us, you won\’t have to continue searching for the perfect buyer while you wait, month after month to sell your house. You won\’t have to continue having open houses and showing your home to unqualified strangers who waste your time and scare the dog. You can sell your Buford home in 7 days or less and move on with your life!

Sell your home in 7 days or less! To sell your Buford Georgia house quickly, please complete our confidential Home Seller Questionnaire on our website at WeBuyHouses.net or call 888-765-3461 to speak to a live representative. Tell us all about your Buford home for sale, how we can reach you and one of our knowledgeable house buyers will contact you ASAP about buying your house fast.

Choose the best offer to sell your house fast. If your Buford house qualifies for our purchase program, one of our professional house buyers will schedule an appointment to come visit your house, take some photos and make you one or more custom offers to buy your home quickly so you can sell your house fast! We are confident that you will like one of our offers. If not, you are under no obligation to sell your home to us.

We are ready to buy your Buford house today! Our home buyers are ready, willing and able to buy your house and help you through the entire home selling process. All you need to do now is call 888-765-3461 or visit our website at www.WeBuyHouses.net to complete our confidential Seller Questionnaire and one of our local home buyers will contact you about buying your house fast. Why wait another minute to sell your Buford Georgia house when you can sell your house to us today?

Do you have a home in Sugar Hill Georgia you need to sell quickly?

Have you been searching the Internet looking for a way to someone to buy your Sugar Hill house fast or some way to sell your house in Sugar Hill Georgia fast? Many sellers need to sell their house fast, but don’t know where to turn. Luckily you’ve found the right “We Buy Houses” site to sell your house in 7 days or less! WeBuyHouses.net is your number one source for buying houses in Sugar Hill Georgia for fast cash or by taking over your existing mortgage payments. We can help you sell your house fast by buying your house fast!

How to Sell Your Sugar Hill Georgia House Faster Than Ever! (How it works) Once you’ve completed our Seller Questionnaire providing your contact information and telling us about your Sugar Hill house for sale, one of our professional home buyers will contact you by phone or email about buying your home. If your home meets our purchase criteria, we’ll schedule an appointment to come out and see your house and make you one or more offers to buy your house on the spot! It’s that simple.

Who we are. WeBuyHouses.net a group of professional home buyers in Sugar Hill Georgia and around the country that specializes in purchasing houses quickly for all cash or on other creative terms. We are not real estate agents who want to list and sell your home for a commission, so there is never any broker fees or real estate commissions. All you have to do is tell us about your Sugar Hill home for sale so we can possibly buy it. That’s how simple it really is!

We can save you time and money. We know that selling your home can be an expensive, time consuming and complicated process. We understand your situation. If you need to sell your Sugar Hill Georgia home fast, we are your number one solution. Our local, professional home buyers can buy your house in 7 days or less once you’ve notified us of the Sugar Hill home you have for sale. We can pay all cash, take over your payments or lease-purchase your house immediately! We will handle all of the paperwork, make all the arrangements and close within a few days if necessary. You’ll get a quick sale with no hassles, so you can put your house selling worries behind you once and for all. There will be no more stress and no more home selling headaches.

We buy houses in Sugar Hill Georgia. We also buy homes in Buford, Cumming, Suwanee, Duluth, Dacula, Norcross, Lawrenceville, Snellville, Stone Mountain, Lake Lanier and other surrounding areas. We also buy houses in cities and towns across Georgia such as Atlanta, Gainesville, Athens, Augusta, Macon, Savannah, Valdosta, Tifton and we want to buy your Georgia house too!

We buy houses in Sugar Hill Georgia in all shapes and sizes. We purchase all types of property, whether it’s a new house, an old house, a big house, a small house, a pretty house, an ugly house or a house needing major repairs… We like to buy them all. We buy as many houses as we can in Georgia and are always looking for more houses to buy.

We buy houses in Sugar Hill Georgia in any situation. If you are selling your Sugar Hill Georgia house due to divorce, illness, unemployment, relocation, behind on payments, bankruptcy or foreclosure, we’d like to help you find a solution that fits your unique home selling situation. We specialize in finding creative solutions to tough real estate problems that Realtors and other home buyers won’t touch.

We are your best solution to sell your home fast. If you’ve tried to sell your Sugar Hill Georgia home for sale by owner and failed or you have listed your house with a real estate agent who was unable to sell your home, we are your best solution to get your home sold quickly. Sell your house to us in 7 days or less and avoid all the hassles and uncertainties of trying to sell your home yourself or through a real estate agent.

We are your ideal home buyer. If you sell your home to us, you won’t have to continue searching for the perfect buyer while you wait, month after month to sell your house. You won’t have to continue having open houses and showing your home to unqualified strangers who waste your time and scare the dog. You can sell your house in Sugar Hill Georgia in 7 days or less and move on with your life!

Sell your house in Sugar Hill Georgia in 7 days or less! To sell your Sugar Hill Georgia house quickly, please complete our confidential Home Seller Questionnaire on our website at WeBuyHouses.net or call 888-765-3461 to speak to a live representative. Tell us all about your Sugar Hill home for sale, how we can reach you and one of our knowledgeable house buyers will contact you ASAP about buying your house fast.

Choose the best offer to sell your house fast. If your Sugar Hill Georgia house qualifies for our purchase program, one of our professional house buyers will schedule an appointment to come visit your house, take some photos and make you one or more custom offers to buy your home quickly so you can sell your house fast! We are confident that you will like one of our offers. If not, you are under no obligation to sell your home to us.

We are ready to buy your Sugar Hill Georgia house today! Our home buyers are ready, willing and able to buy your house and help you through the entire home selling process. All you need to do now is call 888-765-3461 or visit our website at www.WeBuyHouses.net to complete our confidential Seller Questionnaire and one of our local home buyers will contact you about buying your house fast. Why wait another minute to sell your Sugar Hill Georgia house when you can sell your house to us today?

One of the most important things to remember when you want to have success in the real estate market is that you must choose the right real estate agent, someone who will represent your best interest with the utmost zeal and ability. This is especially important if you know very little about the entire real estate market.

Having a good real estate agent can make sure that you are getting the most out of your real estate experience. Unfortunately, not all real estate agents out there have the qualifications that you may need or may be seeking. In order to find the best and right real estate agent that will suit your needs in the real estate market, you must take a few factors into consideration before you choose a real estate that would represent you.

Before anything else, you should always remember that a real estate agent is just like a salesperson in a way that he or she is trying to sell someone a house. The agent could be working for either a buyer or a seller, depending on what purpose he or she was hired for. Nonetheless, their main mission is still to sell. It is important that you look for real estate agents that have the capability to sell any real estate property. This will help put you at ease knowing that the real estate agent that you have chosen can do his or her job well, thereby increasing the amount of confidence and trust that you have for him or her.

It also helps if you can determine what the real estate agent’s area of expertise is. Since some real estate agents are more specialized and have more knowledge about certain areas, you need to make sure that the real estate agent that you are choosing is knowledgeable and skilled enough in the particular area that you may need him or her for. If an agent has been living in the area that where your real estate property is located, then it can greatly help in how he or she markets and sells the property to other potential buyers since he or she is already familiar with the area, and knows a little something about it.

A good real estate agent is also very accessible and should always be readily available to his or her client. In this way, the agent can make sure that he or she is able to address any queries or problems that the client may have regarding the real estate properties that he or she is planning on selling or buying. There is nothing worse than a real estate agent that is very inaccessible. Any good real estate agent should always be there for his or her client, just so he or she can make sure that the client gets the best result from the whole real estate experience.

Any good real estate agent should also be experienced, but should also be educated. This will help make sure that your real estate agent is able to handle your account without problems and with high competence. You would rather have your account be handled by someone who has a college degree and has a lot of experience in the whole real estate process, as opposed to a high school drop out who has little to no sales yet. You need your real estate agent to take control of the whole process, which is why he or she needs to be very competent and skilled in the matter in order to make sure that your best interest is not overlooked.

Vanessa Arellano Doctor

http://realestatepress.org

Who Needs a Home Inspection Anyway?

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home (house, condo, townhouse) you want to buy is in good condition. A home inspection is an evaluation of a home’s condition by a trained expert. During an independent home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy.

The home inspector will:

* Evaluate the physical condition: the structure, construction and mechanical systems.

* Identify items that should be repaired or replaced.

* Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, usually within 24 hours.

Finding a Qualified Independent Home Inspector

As the homebuyer, it is your responsibility to carefully select a qualified inspector. I stress that it is “your” responsibility, and not your agent’s. After you purchase your new home, your agent will not be responsible for paying the unexpected repair costs that result from non-thorough home inspections. Any unexpected repair costs will be your responsibility.

Understanding the Home Inspector / Realtor Relationship

For your protection, hire an independent home inspector, instead of a home inspector who is recommended by your real estate agent. Here’s why:

Most home inspectors solicit real estate agents for work, hoping that the real estate agent will exclusively recommend his home inspection services to all the real estate agent’s clients. Agents work with many home-buyers throughout the year, and each home-buyer will eventually need a home inspection in order to close the sale. So, it originally made sense for an agent to find one or two home inspectors that he/she could regularly recommend to clients. However, this Agent / Home Inspector relationship carries a conflict of interest.

Here’s why:

(a)Real Estate Agents make commission when their client buys the home.

(b)A client will only buy if s/he finds the home’s condition acceptable (Among other reasons)

(c)So, a negative home inspection can stop a home sale (and the Agent’s commission)

Now, this is not an accusation of any Agents or Home Inspectors. However, in this relationship, the Home Inspector may feel stated or unstated pressure from the Agent. There may be pressure to deliver positive home inspection reports or the agent may pressure the home inspector to produce inspection reports in less time at the expense of performing a more thorough inspection. After all, the Agent could easily replace the Home Inspector with another who may write more lenient reports. To be honest, there are many other Home Inspectors who would line up to get a steady flow of new clients from the Agent.

The Bottom Line: Spending Hundreds May Save Thousands

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified independent inspector of your choice. Independent home inspectors are hired by you, and they do not have a relationship with the real esate agent. Hiring a qualified independent home inspector could keep you from buying a house that will cost you many thousands of dollars in repairs down the road. Only after the independent home inspection is complete and you are satisfied with the results of the inspection, your real estate purchase offer can proceed.

Our Service To Find The Best Agent is Free To Buyer’s and Seller’s! America’s Best Agents are looking for the best real estate agent in every neighborhood to network together and to have the best marketing tools to help buyers and sellers buy and sell homes. Who is the best in your neighborhood? To Find Out Go to www.americasbestagents.com or Call Ginny Lee at 239-591-3225

The real estate industry is very sensitive to economic changes like interest rates and the cost of materials in building houses. Interest rates in particular can easily swing the number of sales that are completed during any quarter of the year. Rising interest rates will slow down the sales and falling rates will aid the sales of real estate. This is an important fact in the real estate business as this can absolutely cause rapid changes in income from the sales that can be made.

With this in mind, the time to buy an agency that comes up for sale may be when the real estate business is in the doldrums. A hot real estate market will make an existing firm worth more, as their income will be higher during this period of time. Of course if you follow this course of action, you will have to wait out the slow down in the markets. Another factor in the purchase or start-up a real estate company is the state licensing requirements. Most states have serious requirements for real estate agents and brokers. Brokers have a much stiffer requirement in most states than an agent. The requirements include passing exams and a fixed number of educational hours for both agents and brokers. There is also a requirement for continuing education. These state mandated steps to a career in the real estate business would have to be met before an agency could be purchased or started. Since this industry is regulated and has strong legal steps to comply with, this licensing plus experience would be an initial step to being an owner in this field. This is not a business that can be stepped into by just paying out some money.

An agent can have the goal of owning their own firm, but it will take planning and meeting the state rules to make this happen. Once a potential owner has these steps out of the way, finding an existing business to buy will be in order. A quick check of real estate business listings reveals that they are usually found in larger cities and the asking price is significant. There are also resales of franchise companies. Just typing into a search engine, “Real estate businesses for sale”, came up with this quick check. A buyer could also check with business brokers and real estate brokers in their city. Another source worth checking out would be a franchise connection. An in place real estate business is advantages as the name is already known and will get clients due to this. When you start a company from the ground up you do not have this advantage. An existing business with several locations will come with a higher price tag than what you could start your own business for.

Another way to gain ownership would be buying into an existing business. This could work if you have a solid relationship with the current owner. The problem is you will not have the final say in most decisions unless you are buying controlling interest.

Specialty real estate firms

Most people think about a firm that helps with the buying and selling a home. There are several other areas of specialization. A real estate firm could become expert in buying and selling commercial property, farmland and farms, farm product processing plants, rental properties and shopping centers. Actually a broker could cut out a niche market from many that are available in the real estate business. If you have an area of expertise, this could become something that could be marketable and cut out a lot of competition in certain situations. Some real estate firms have unique departments that handle certain types of real estate marketing. The decision you must make is what kind of a firm are you going to own. You may have to start your own in order to make it happen.

You could also get into real estate management and the buying and selling of these rental properties, which is a very unique part of the industry. Shopping center related firms could be in from the start of a project. They can help with the formation of the firm to build and own the property and then handle the rentals and day-to-day management of the center.

The point of all of this is there are areas of real estate specialization that lend themselves to a business that just works in this real estate category.

Finding the money to make your dream happen

You may not have the total purchase price for an existing business. The question is how do you come up with the balance to make the deal. Finding a source to lend you the money is one way to come up with the needed funds. There are businesses that offer loans to new owners of businesses. These can be found on the Internet by just doing a search. Family and friends could be another source of money. One way to get the needed money is to take in a partner for the business. If you have a friend in the business maybe they would be interested in owning part of the existing company. All of these possible money suppliers will have different requirements for paying the money back. Make sure you can see your way clearly on how you will accomplish the pay back. This business can be adversely affected by interest rates so you would need a second way to make the payments. A person thinking about ownership in this field must remember that it can be feast or famine as far as sales and commissions go. This is not like being in the restaurant business or owning a printing company. Successful brokers can make considerable money in a good market. They can also have periods that are very tight as to sales. The brokers that succeed have a policy of putting away some of their earnings during good times to cover the less profitable times. Doing this just shows the broker has a realistic view of the business.

Conclusions

This business can be extremely profitable during low interest rate economies. The legal and state requirements make the ownership of a brokerage firm more difficult to own than is the case with other businesses. Buying and selling a real estate business is somewhat more difficult due to the restrictions that are placed on the owner of a real estate firm. You must have the appropriate licenses in place before you can begin operation. This is true whether you buy a company or start one up from scratch. Finding a firm you can afford will take some time and research on your part. Hiring a professional business broker may speed up the search.

Deciding early on if you want to be a specialist will set other decisions in place. Niche areas that you are an expert in will help cut the competition somewhat. A general real estate business will have the potential for more clients, but will need and ongoing advertising campaign to gain listings and clients looking to buy. The start-up is cheaper to open, but will have little cash flow like an existing firm. Money flow is the one huge advantage buying an existing business offers to the new owner.

Choosing a Mortgage Company

You will potentially be dealing with your mortgage company for the next thirty years, therefore; it is important to choose your mortgage company wisely. The best way to choose a mortgage company is to ask those around you for their experiences. Talk to friends or relatives who have recently purchased a home and ask if they were happy with the service from their mortgage company. By doing this you can begin to build a list of companies that you want to approach.

Real estate agents can also be a good source for mortgage company recommendations. Because they see people working through the financing process daily, they develop a feel for which companies are easy to deal with, and which are not as easy. Although word of mouth is an excellent way to develop a list of potential mortgage companies, it should not be your only method used. Everyone has a different financial situation, and what works for one person may not be the best choice for someone else.

Using the list of mortgage brokers that you have compiled, you can make appointments to go in and personally speak with each one. This will give you a feel for the personality and demeanor of each company. Also, if you have trouble getting your calls returned, or setting up appointments as a prospective customer, it is unlikely that your situation would improve if you had your mortgage through the company.

What to Expect from the Mortgage Company

A mortgage company is a service industry. It is important to remember this. Many people find the mortgage approval and home buying process so intimidating that they forget that they should shop for a mortgage company that they are happy with. A mortgage company should be happy to quote you specific interest rates, and let you know when you should lock in these rates. They should also tell you what the specific costs are in acquiring a loan. This means a good faith estimate on closing costs, discount and origination fees that must be paid and any other costs that may be involved when purchasing a home.

The mortgage company should be upfront about all of the technical details of the loan. They should let you know if there is any penalty for pre-payment, the amount of money required for a down payment, and what documents you will need to provide for loan approval. The mortgage company should also let you know what guidelines you must meet to qualify for a loan with them. This will include credit history, your income, employment history, your assets and liabilities and any other specifications they require.

Many states offer specialized home buying programs. The well established home mortgage company should be familiar with the various programs in your state, and provide you with information about these. If you believe that you may qualify for one of these programs, the mortgage company should help you complete any necessary paperwork and determine if you qualify.

The mortgage company should be willing to tell you how long it will take to process the loan, and if they guarantee it will be processed by a certain date. They should also provide you with any information that may slow down the loan processing process, and their method for dealing with problems.

After the Loan Closes

Once you close on your mortgage, you may never see or think of your mortgage company again. You make your monthly payment, and sometime, years down the road, you receive the title to your home. While this happens occasionally, it is not as common as you may think. You may move, and decide to sell your home. Interest rates may drop, making the decision to refinance attractive, or, you may have trouble making your monthly payment due to job loss or medical problems.

Before selling your home, you must know how much you owe on it. Your mortgage broker should be able to determine the balance of the loan and provide you with this information easily. If you decide to refinance, consider staying with the same mortgage company. Often, the mortgage company will negotiate lower closing fees or no closing costs if you refinance through the same company that currently holds your mortgage.

Finally, if catastrophe strikes and you are unable to make your mortgage payment, it is imperative that you get your mortgage company involved early in the process. They can provide you with resources for help in making or delaying payments, and let you know if foreclosure is imminent. As tempting as it is to bury your head in the sand at this time, remaining proactive can help you hand on to your home, or allow you to sell your home before foreclosure proceeding begin.

You’ve found a beautiful piece of property in one of the upscale areas of Pennsylvania and you’re wondering if you can get the best mortgage loan that’s available in the market.

If you’re new to the area, you might want to study the local market, meet with some real estate agents and mortgage brokers, speak to a few financial institutions and do comparison shopping for mortgage loans in Pennsylvania. Don’t be in a rush to settle for the first mortgage loan that’s offered to you. It pays to do a bit of due diligence and to acquaint yourself with local conditions. Only a reputable real estate expert can clue you into the best type of mortgage loan that will suit your budget and lifestyle.

Types of mortgage loans in Pennsylvania

Like most American states, Pennsylvania offers homebuyers many types of mortgage loans:

ARM (adjustable rate mortgage) – the one thing to remember about ARMs is that they have a low initial rate and a low payment, but they last for one, three or five years. There are different types of ARMs and are usually ideal for people with special circumstances; that is, they have varying income levels during the year and only want to engage in short term borrowing. Pennsylvania borrowers who require low mortgage payments but expect to be able to make larger payments later choose ARMs.

Fixed rate mortgage – unlike adjustable rate mortgages, fixed rate mortgages have a fixed interest rate and can go for as long as 10, 20, 25, 30 and even 40 years. This is the perfect mortgage loan for people who have steady incomes and stable jobs and want to pay a fixed amount every month. They can’t tolerate variable rate mortgages because they want to stick to their budget and want the security of one regular payment either weekly or monthly.

Interest only mortgage – this is a type of mortgage loan that is becoming popular among people who cannot afford to make payments towards the principal and interest of a mortgage loan. As the name suggests, homebuyers pay only the interest on the mortgage. This type of loan, however, cannot go on indefinitely as there is a fixed time period for making interest payments – usually five to ten years. In this type of mortgage loan, the borrowers only pay interest leaving the principal amount unchanged. This means that if you borrow $200,000.00 at 5% for 2 years, you will only pay the interest of $10,000 divided over 12 months, but your mortgage loan remains at $200,000.00, even if you choose to pay more interest than the 5%.

Fixed rate second mortgages – these are also called home equity loans. Borrowers borrow money against the equity of their first home if they have certain expenses to meet such as their children’s university education or a kitchen renovation they’ve been wanting to undertake. An alternative to a home equity loan is a refinanced mortgage, but note that home equity loans may have lower closing costs but higher interest rates.

Mortgage loans: a few pointers

When shopping for the best mortgage loan rates, consider the following:

Study the APR (annual percentage rate). This allows you to compare different mortgage loans in Pennsylvania with different closing costs; Amortization – this is important because it pays to know how the payments are applied to the debt balance over a period of time.

Term – people are tempted to stretch their mortgage loans to 30 or 35 years because monthly payments are lower. Remember, however, that while monthly payments would be lower, you could be paying higher interest rates in the end. Some people like a short mortgage – say 10 years – and while they do end up paying larger monthly amounts, they at least save on interest charges.

Low payments – be wary when a mortgage lender offers you very low payments. Consider it within the context of the amortization. While low payments may be affordable in the next 24, 36 or 48 months, the loan could cost you an arm and a leg in terms of interest. Second mortgages – remember the rule of thumb: second mortgages have higher rates than refinanced mortgages.

Before you make a final decision on the mortgage loan you’re obtaining in Pennsylvania, do some research on local mortgage lenders and compare their rates to national lenders. Find out as much as you can about the Pennsylvania housing market and lastly, compare terms and rates and convince lenders to come up with a better offer.

Selling a house can become a hair pulling experience if your not properly prepared for all of the predictable twist and turns that can develop throughout the home selling process. Regardless of whether you have the best real estate agent alive or are determined about selling your own home, you’ll need to understand exactly what’s involved.

In regards to selling your own home you might want to make a list of exactly what that entails before you take on the added headache. Don’t forget to list variables like how long you can wait before it sells, how much you would actually be saving by not using an agent, and especially the extra time and energy you’ll have to expend. Still selling your own home can be a rewarding and cost saving experience, so don’t rule out the possibility without giving it due consideration.

Using a real estate agent can often make you wish by the time the whole process is finished, that you had just done it yourself. In my experience the most crucial part of how to sell a house is in making sure you pick the right agent from the start. A good way to do that is to research your area and find out which agent has got the most sold boards.

Then visit their offices as a buyer. That way you get to experience first hand which agent impresses you with their marketing and promotional skills. Ask yourself, would I buy a house through this person? Make sure you like them as well, but bottom line judge firsthand who’s the best at selling you the viewings of their clients properties.

Some agents will impress you more, and don’t let the deciding factor revolve around fee’s as a good agent will charge you a higher fee, but will most likely give you better service and be more likely to deliver the results your after. There are four basic questions to ask initially, once you feel you might have found the right agent.

What price do you think my house will realistically sell for in this market? Some real estate agents will quote the asking price that they would list your property for when marketing. Although this figure is important to know, it is far more important to know what price the agent feels your property will realistically go for in the end. Ask them what they’re basing that figure on? Unfortunately, there are real estate agents who will try to impress you at the valuation by inflating the figure that your property will achieve. Everyone wants to hear that their property is worth more than they thought. However this will only delay the process.

When a real estate agent gives you a figure, always ask what they are basing that figure on. Good agents will have done their research and can provide you with the prices that similar properties in your area have recently sold for. The agent should also know what other similar properties are currently on the market in your area that your house will be competing against.

How many applicants do you have registered that would be interested in buying my home? A good agent will know exactly who they have on their books and be able to tell you if they have someone looking for your type of property. This is a good indicator of whether he or she can get people in to show your house to right away, hopefully resulting in a quick closing.

How often can I expect feedback from you? Estate agents should be providing you with regular updates and feedback regarding the people who have been shown your home, and what they’re saying about it. As a result of feedback, your agent should be able to make recommendations regarding what your property needs to sell faster.

With the answers to these four questions you should have a feel for your prospective real estate agent. Consider if they were well prepared for the valuation. Were they knowledgeable about the market in your area? Were they transparent and straight forward when giving answers about price?

Besides preliminary preparation such as making sure your house has good curb appeal and the inside is immaculate and uncluttered, in my mind having a good Realtor is the most important aspect. Your agent should walk you through the whole process of how to sell a house and if you want to sell your house fast, make sure you cover all the bases. Refer often back to your list until every detail has been addressed.

Even though your probably finding yourself in a buyers market, if your realistic, attentive, and well informed, it should all go fairly smooth. There are so many tricks on how to sell your home, and incorporating as many of them as possible at the same time, is always the surest strategy to a quick closing.

It is important to have a selling plan before making the decision to sell your home or invite potential buyers to an open house. It is very important to be prepared so that costly home selling mistakes can be avoided. Even though it is your priority to immediately earn top money from the sale of your house, it would be wise to contain your enthusiasm and be fully prepared before actually putting your home out in the market.

Some of the basic tips in selling your home are to:

Know Your Motivation for Selling

Everyone has a reason to sell. It is probably best to delay this decision if you aren’t totally sure why you want to sell or if you know that you aren’t truly motivated to sell your home. Selling a home is a major decision and you have to be totally sure about it.

Call Real Estate Agents

Interview at least three neighborhood specialists and real estate agents before selling your home. Know the possible marketing strategies you can do to advertise your home. Let these experts provide you a thorough comparative market analysis so that you can know the pros and cons of your decision. You need to acquire as much information as possible before selling your home.

Set Your Price Carefully

It is important to have an expert analysis before selling your home. You have to know the right and most attractive price for your house. If it is too high, then it is possible to turn off potential buyers. If it is too low, on the other hand, then you are selling yourself short.

Not Do Major Remodeling

Don’t spend too much on making major changes on your home. Chances are, you aren’t really sure yet of what buyers are looking for. So then, save your money for when you have to actually do necessary repairs and enhancements. Expensive items may attract buyers but, if they’re not really important as of the moment, then it is best to put them off first.

Make a Good First Impression

Many sellers believe that a buyer makes a decision of purchasing a house within the first eight seconds of laying eyes on it. Therefore, if the exterior of the house gives off even the slightest appearance of untidiness, you can be sure that this will turn off the buyer. Thus, it is important to check signs of wear and tear. Check and fix foundation cracks, loose shingles and peeling paint. Clean the outside of the house, such as its windows, doors and the lawn. Add a few flowers, clear out scattered leaves, and, as much as possible, add a fresh coat of paint to your door for that welcoming feeling.

Clean

Cleaning is the number one commandment of house selling. Remove all clutter and organize all rooms, cabinets, attics and the basement. Give the walls a pleasant neutral color to attract more buyers. Clean all appliances and fixtures and give special attention to bathrooms and kitchen sinks. Make necessary repairs and fixes. In fact, you could even have a garage sale for all the things that you won’t need in your house anymore.

Light Up Your House

Creating a welcoming and warm atmosphere in your home is important. Provide plenty of light and open the windows to let the sunshine in. Make sure that there is enough lighting if you are going to show your home in the evening. 

Go Away

Most buyers actually prefer that the seller is not present during the actual showing of the house. To avoid making buyers feel uncomfortable, you should stay away during showing. This will limit unnecessary conversation. Make sure to hire the best realtor and, also, keep your children and pets out of the house. 

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We can save you time and money. We know that selling your home can be an expensive, time consuming and complicated process. We understand your situation. If you need to sell your Bayonne, New Jersey home fast, we are your number one solution. Our local, professional home buyers can buy your house in 7 days or less once you’ve notified us of the Bayonne home you have for sale. We can pay all cash, take over your payments or lease-purchase your house immediately! We will handle all of the paperwork, make all the arrangements and close within a few days if necessary. You’ll get a quick sale with no hassles, so you can put your house selling worries behind you once and for all. There will be no more stress and no more home selling headaches.

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The real estate industry wants us to ignore the whole concept of “buyer beware” and just pay full asking price…or more…so they can make money fast.

So here are my recommendations to help you protect your interests in an uncaring world.

Don’t forget to ask to see the utility bills for at least 6 months to a year on a house you are considering buying. If any bill is excessive it may give you a clue about flaws in the insulation, plumbing or other issues you need to know that can cost you big money.
Don’t forget the inspection. Hire a home inspector to look over the property. Any flaws that are present could cost you a lot of money if you don’t find out about them until after you are the new owner. One house we considered buying was putting out more carbon monoxide from the heating system than heat. A flaw like that could be deadly. HVAC systems cost big money. Foundations that are cracked and crumbling are a problem, too. Find a good inspector without the help of a real estate company. They are often in cahoots with each other. You pay for the inspection and the inspector needs to be aware that he/she works for you.
Don’t forget to get real data on current re-sale prices in your target neighborhood. Study the selling (closing) prices of homes in the area you want to call home. This data is available in the tax records of the municipality as public information. Only very recent re-sales matter. An appraiser can get you the real data on what houses are selling for in the immediate area of the home you are considering. A real estate agent could also get this data from MULTILIST, but they often don’t want to give you the relevant facts, or they don’t know how to do it right. Ask them for a list of all closed sales that have occurred in the immediate neighborhood in the last 60 days, leaving out all new homes. Drop the high and the low and average the rest of homes similar to the one you want.
Never skip the title search. Many times real estate agents and builders will try to get you to ignore this essential step. It should be done the day of the closing if possible. It is designed to give you a clear title without construction liens or debt liens. You DON’T want to be paying someone else’s bills, do you?

It’s important to take these kinds of steps to protect yourself in any real estate market, good or bad. It’s just common sense. But when markets are trending down it’s especially important.