8 Reasons Why You Should Work With a REALTOR®
Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.
Here are five reasons why it pays to work with a REALTOR®.
1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: 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?
3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.
4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, 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. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.
7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.
8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.
Carlo Gobba is an Associate broker with RE/MAX in the Hills with a tremendous amount of experience as well as innovative marketing strategies. Take a peek at one of his properties that he is representing by visiting: www.1412KeyWest.com
Sunday, February 3, 2008
QUESTIONS TO ASK WHEN SELECTING A LISTING AGENT
12 Questions to Ask When Choosing Your REALTOR®
Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.
1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
2. What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.
3. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
4. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
5. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
6. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
9. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
10. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
11. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
12. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
***Carlo Gobba is an Associate Broker with a tremendous amount of experience with a strong and innovative marketing plan. See an example if some of his innovative marketing by visiting www.1043NorthVermont.com or www.509WestHoustonia.com
Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.
1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.
2. What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.
3. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.
4. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.
5. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.
6. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
7. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
8. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.
9. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
10. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.
11. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
12. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.
***Carlo Gobba is an Associate Broker with a tremendous amount of experience with a strong and innovative marketing plan. See an example if some of his innovative marketing by visiting www.1043NorthVermont.com or www.509WestHoustonia.com
5 Things to do Before Putting Your Home on the Market
5 Things to do Before Putting Your Home on the Market
1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
Realtors sell homes
Sellers who use a real estate professional make 16 percent more on the sale of their home than do sellers who go it alone.
Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional.
REALTORS® are real estate professionals who are experts in marketing and negotiation.
REALTORS® can help a seller set a realistic price and ensure the proper paperwork and various disclosures and inspections are handled correctly.
REALTORS® know best how to prepare a home and maximize value, provide broader exposure to the market and are more likely to generate multiple bids than a seller on their own.
In addition, REALTORS® are experts in attracting qualified buyers. A professional can show a home more objectively than can a seller who may be emotionally attached to the home, and who might become unnerved by prospective buyers’ critical comments.
The real estate pro also checks the financial capability and bona fides of buyers before allowing them onto a seller’s property.
Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional.
REALTORS® are real estate professionals who are experts in marketing and negotiation.
REALTORS® can help a seller set a realistic price and ensure the proper paperwork and various disclosures and inspections are handled correctly.
REALTORS® know best how to prepare a home and maximize value, provide broader exposure to the market and are more likely to generate multiple bids than a seller on their own.
In addition, REALTORS® are experts in attracting qualified buyers. A professional can show a home more objectively than can a seller who may be emotionally attached to the home, and who might become unnerved by prospective buyers’ critical comments.
The real estate pro also checks the financial capability and bona fides of buyers before allowing them onto a seller’s property.
Tuesday, January 29, 2008
To List Or NOT To List With a Realtor
I have come accross many home sellers since 1996 that for one reason or another decided to try and go it alone when it came to advertising their home for sale. There are many that were successful and many that were not.
I have to say that the number one reason that a home owner selected to go it alone was commission. Can a home be sold privately and without being listed with an agent? (While the answer is a resounding yes, I have to point out that the National Association of Realtors did a study last year of homes sold privately and homes sold (while represented with an agent) and those home owners that selected professional advice were able to obtain more than 11% more for their homes than those home sellers that were unrepresented.
I have personally watched home sellers go into a home sale attempt and seen the amount of time that they spend each Saturday and or Sunday hosting open houses where one prospect showed up. I have watched them spend hundreds of dollars on newspaper advertising that brought calls to a phone number that they could not answer or get back to for hours and hours (where the prospective buyer moved on to another property because they became impatient) *As todays buyers do.
I have personally watched home owners fend off dozens of real estate agents calling and subjecting them to sales pitches each week. (Yet, they only had a few prospective buyers interested.)
I have watched home sellers be offered the most ridiculous offers by agents that couldn't possibly work (because the agent simply wanted their sign in the front yard) in order to milk the calls from buyers to sell them something else.
I have watched home owners be made offers by buyers to buy their home that could have costed the seller a tremenous amount of watsed time if accepted.
Ultimatley, experienced investors are the main buyers interested in making offers on homes offered by private home sellers. This is the main reason that I believe the NAR's research showed that private home sellers negotiated more than 10% less for their homes. They began offering their homes privately to save the typical 6% charged by agents and brokerage firms. All they did was pass a savings along to the buyer.
Buyers shopping a private home sellers offering is looking for a savings that will more than payoff their need to bring an attorney into the mix to write up a deal as well as put all the time and effort into the search and negotiating process.
Can you do it yourself? Again... the answer is YES. Do you want to do it yourself? You may think things through just a little better before answering that question.
I have to say that the number one reason that a home owner selected to go it alone was commission. Can a home be sold privately and without being listed with an agent? (While the answer is a resounding yes, I have to point out that the National Association of Realtors did a study last year of homes sold privately and homes sold (while represented with an agent) and those home owners that selected professional advice were able to obtain more than 11% more for their homes than those home sellers that were unrepresented.
I have personally watched home sellers go into a home sale attempt and seen the amount of time that they spend each Saturday and or Sunday hosting open houses where one prospect showed up. I have watched them spend hundreds of dollars on newspaper advertising that brought calls to a phone number that they could not answer or get back to for hours and hours (where the prospective buyer moved on to another property because they became impatient) *As todays buyers do.
I have personally watched home owners fend off dozens of real estate agents calling and subjecting them to sales pitches each week. (Yet, they only had a few prospective buyers interested.)
I have watched home sellers be offered the most ridiculous offers by agents that couldn't possibly work (because the agent simply wanted their sign in the front yard) in order to milk the calls from buyers to sell them something else.
I have watched home owners be made offers by buyers to buy their home that could have costed the seller a tremenous amount of watsed time if accepted.
Ultimatley, experienced investors are the main buyers interested in making offers on homes offered by private home sellers. This is the main reason that I believe the NAR's research showed that private home sellers negotiated more than 10% less for their homes. They began offering their homes privately to save the typical 6% charged by agents and brokerage firms. All they did was pass a savings along to the buyer.
Buyers shopping a private home sellers offering is looking for a savings that will more than payoff their need to bring an attorney into the mix to write up a deal as well as put all the time and effort into the search and negotiating process.
Can you do it yourself? Again... the answer is YES. Do you want to do it yourself? You may think things through just a little better before answering that question.
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