Real Estate Update

Archive for the ‘Business Ideas’ Category

One of the most often-asked questions in the real estate world is “Do I need to use a realtor?” In Georgia, much like any other state the answer is: “Yes, if you want the best deal possible.” Many people have tried to sell their homes themselves or purchased without the aid of a realtor. There have surely been some success stories as well, but statistics also show that a large percentage of the people that do go the buy or sell yourself route end up working with a realtor in the end. Why is this? It’s simply because realtor are real estate professionals, they know their business and they know the local market and can supply services that are not attainable anywhere else.

Realtors services include several aspects of the buying and selling process that are unique to their profession. One of the most noticeable of these is the lengths they go to to market a property for sale. Perhaps the most vital tool in a realtor’s arsenal is the website. A properly maintained and optimized website is an invaluable tool in this modern age of high-technology. A huge percentage of the homes sold in the U.S. are first viewed online and some are even purchased entirely online without the buyer actually visiting the home.

In finding the right home, the experience and contacts of a realtor are unmatched. Realtors have years of experience in matching people with the homes that best suit them and their financial picture. They will be able to quickly eliminate homes that do not suit your needs and wants. Once the proper home has been found, the realtors experience really starts to shine through. The complex contracts process involved with a home sale can seem like a foreign language to those who have not dealt with it before. Realtors make the contract process easy and stress-free. Let’s look at it this way, would you allow a secretary to fix your car? Of course not you would take it to a mechanic. So why let a non-professional sell your home or guide your purchase?

When it comes time to purchase a home, it is easy to get swept away by the excitement. This is particularly true if this is your first time purchasing a home, which is always a thrilling moment.
While you may be anxious to close the deal and to finally move into your dream home, there are many legal issues you to contend with before you finalize your purchase. With the help of a Realtor guiding you through the process, however, you can be certain that you will be properly informed and protected when making your new home purchase.
Getting a Realtor for You
One of the first things you need to realize is that not all real estate agents are looking out for your best interest. In fact, if the agent represents the person that is selling the home, that agent is looking out for that person’s best interest instead. For this reason, it is a good idea to have your own Realtor that will make sure you are completing the proper steps during your home buying experience.
Negotiating a Deal
While it is possible to enter into negotiations with the seller without the help of a Realtor, having one of these professionals on your side can make the process smoother. Remember, the Realtor has a great deal of experience when it comes to negotiations, so it is in your best interest to put these skills to use.
In addition to negotiating the price of the property, the Realtor can also negotiate factors such as:
- The type of financing terms used to purchase the home
- When you can take possession of the home
- What repairs will and will not be made to the home before closing the deal
- What furnishings or equipment will be left in the home and included in the negotiated price
After these negotiations are complete, a purchase agreement can be created and you can move on to the next step of the buying process.
Getting Inspected
Before your deal is finalized, you will also need to have the home inspected. Although the lender will require an appraisal of the home to be completed, this is not the same as an inspection. An inspection will tell you about any current problems or potential problems the property faces. If the inspection determines that there are problems with the property, your Realtor may need to return to the negotiations in order to determine who will pay for the necessary repairs.
Although your Realtor does not complete the inspection, he or she can recommend a reputable inspector that will truly look out for your best interest. In addition, the Realtor may work closely with the inspector in order to make sure all information regarding the property is accurate and complete.
Once you are satisfied with the condition of the home and the terms of your purchase agreement, you can notify your Realtor that you are ready to move forward with the purchasing process. With financing approved and in place, it won’t take long before you are ready to move into your new home!

Selling a home is becoming more complex. With each passing year more and more homes come available on the market. This obviously makes it a little more difficult for realtors to sell the homes, so realtor tools are becoming more popular every day. The days of simply placing a for sale sign and waiting for the offers to come in are unfortunately over. Nowadays, realtors have to put a lot more effort into the sale of a home or business. Thankfully, there is a wide array of realtor tools that can simplify the process.
The most widely used realtor tool lately is the Internet. The days of depending solely on drive by customers seeing the signs are over and the World Wide Web is becoming a more and more lucrative industry in recent years. Fifteen years ago when realtors were attempting to sell homes they would put up signs on the lawn, put ads in the local newspapers and hold open houses on Sundays. Those were the only avenues that were available to them at the time.
Nowadays, when someone is searching for a new home they will go online first. The advantage of this method as a realtor tool is that you can take pictures of the inside of the house, show the floor plan and provide as much information as you would like. The more information that the prospective buyer has, the more likely they will be to set up an appointment to view the home.
You must keep in mind that the actual advertising of the home or property is barely even half the battle. Most of the work that will make you a successful realtor is using the proper marketing tools. It is imperative that you have a firm understanding of your market for both the buyer and the seller. Real estate trends change on a nearly constant basis, so one of the best realtor tools is simply being on top of the market. Knowing what customers are looking for, analyzing prices of other homes and getting to know the neighborhoods are just a few of the important aspects.
Another good idea is to keep a good relationship with other realtors. You will be able to share opinions and thoughts and discuss the new trends on the market. This especially comes in handy if you are expanding into a market that you are not already familiar with. Having a good working relationship with others in the same industry will be incredibly beneficial in the long run.
Time management is also another important tool that is used by realtors. If you spend your entire day working on the sale of one home while neglecting the many others, you will notice that your sales will never improve. It is important to dedicate your time according to the price of the home, how quickly you think you can sell it and also what your customers needs may be.
Having a good, easy to understand website is also another great realtor tool. If your prospective clients can view the homes that you are offering without even having to leave their home, it will automatically increase your chances of success. Real estate can be a very difficult market but it can also be very lucrative if you play your cards right. So before jumping in with both feet, make sure that you are aware of the various realtor tools that are available.

With the current housing market making it much more difficult for owners to sell their property, some realtors have been creatively resetting the “days on market” meter for their clients on their local multiple listing service (MLS). Though many have done so out of good intentions, perhaps not realizing that this is a violation of many multiple listing services, buyers should beware and ask their realtor to take steps to ensure the home they are interested in is not a relisted property.
The targeted homes usually have sat on the market for several months, no longer attracting potential buyers. There are many reasons a home may sit on the market too long. Generally, the reason has nothing to do with the value of the home to a potential buyer. Here are just a few reasons:
• There are currently so many homes on the market across the nation. The competition and falling home prices are making it difficult to sell homes, regardless of price and value offered;
• Most realtors show clients the new listings first. That means that a truly good home will not get the same attention as it did when newly listed, making selling it even more difficult; and
• New listings can command higher prices. Once a home has been on the market for a while, many buyers and their realtors make lowball offers. Seldom do owners accept these too-low offers, leaving the home on the market even longer.
Some realtors, wishing to help their clients sell their homes, have come up with ways to manipulate their multiple listing service’s computerized tracking features. By pulling the home off the multiple listing service and immediately relisting it, these realtors do several things:
• They reset the “days on market” tracking to zero, obscuring how long it has been for sale;
• Realtors, who also zero out the property ID and tweak the address a bit, ensure that the database cannot track the home as a relisted property;
• Even if the days on market continue to track, many multiple listing services put newly listed (including relisted) properties on their “hot sheets”, making them appear new;
• They can disguise that the previous listing was at a higher price, alleviating the perceived sign of seller weakness by buyers and their realtors;
• Relisting means a seller may not need to lower their asking price, since new listings command higher selling prices; and
• The realtor is ensuring the seller gets another run at competing in the market on a level playing field, since new listings get higher prices and most of the attention of potential buyers.
All of these factors are in the best interest of the seller. Unfortunately, a false sales history puts the buyer on an unequal playing field.
The days on market alerts the buyer and his/her realtor to possible problems with the property. Though many reasons for market longevity have nothing to do with the property, some homes have flaws and issues that make them unattractive to potential buyers. It is easier for realtors to show newly listed homes than to research homes for problems that have been on the market for some time.
To protect yourself, ensure your realtor digs a little deeper when researching the newly listed homes. The agent should investigate the sales history of each home before showing it to you. A diligent and experienced realtor will know what to look for and can spot relisted homes.

Tightened standards on federal subprime rates have had a marked effect on the housing market. What does this mean if you want or really need to sell your home? The good news is that there is still a market out there; you just need the skills and tools to tap into it. That is where working with talented realtors comes in. That’s right, talented. In a competitive selling market the best realtors are one who are have large networks, diverse marketing skills, and are willing to try different ideas.

Most of the realtors you find will be honest, but you still need to know which side their bread is buttered on. Here are a few tips to help you get the most out of working with realtors, and the best deal on your house. And it all starts with the asking price.

Set Realistic Expectations

Most realtors hate to tell potential clients that, “No, your house won’t sell for that price.” They really want it to. But they sometimes hesitate to give you a realistic price, because sellers are most likely to hire the realtor that quotes them the best sell price. If they don’t tell you what you want to hear, they might lose your business. So seller, make it your business to ask for a market analysis, and have a realistic idea of what your house might sell for. Hit open houses in your neighborhood and look with a buyer’s eye.

Can’t I just reduce my price later? Well, you certainly can, but buyers almost always take that to mean that there is something wrong with the house. Having reasonable expectations, and being in the appropriate price range is much more likely to work to your advantage.

Also, remember that no matter how devoted realtors are the sale of your house doesn’t have nearly the impact on their lives as it does on yours. In fact, having a sign in your front yard can be good for a realtor’s business whether your house sells quickly or not. Now that doesn’t mean that realtors will try to drag their feet- of course not. But you still need to be aware of what’s being done to sell your house.

Marketing in a Slow Market

Find out before you even sign on with your realtor what marketing and advertising methods will be used to sell your house. Print ads, virtual tours, open houses, signage, direct mail postcards, and fliers are all viable options. But don’t assume that they will all be used immediately, or at all. And keep asking as you move along the process. Of course, a lot of print advertising methods are pricey. A veteran realtor will have a good idea of what to use when. But you need to be involved. If what your realtor’s methods don’t seem to be generating much interest, talk about trying something new. Remember, your realtor’s job is to help you get the most out of this investment.