Real Estate Update

Posts Tagged ‘Realtor’

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.

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.

I hear from a lot of people we work with that they initially did not want to deal with Realtors when purchasing a property because they can sometimes be pushy or just a pain to deal with. This can be true, as it would be with any position that is involved in sales transactions, but if you find the right Realtor to represent you, then they can be an invaluable consultant and guide through the purchase transaction.

For one, a good Realtor has the experience and understanding of the real estate market beyond what you can pick up in 1 month of looking alone. Personally, I would never buy in another city without employing a local Realtor. Sure I could save a little bit of money, but I could loose a whole lot more money by buying an over-priced house in the worst part of town. Every city and even every neighborhood has different advantages and disadvantages, and it is important to have a guide who can help you understand all these points.

A good Realtor has the knowledge and skills to guide a Buyer into the right neighborhood. Taking into account price, location, and style, it is quite the balancing act to determine where someone will be happy living. Before becoming a Realtor, I only really knew the couple neighborhoods I had lived in. After driving around for thousands and thousands of hours and looking at all kinds of homes, you definitely get a sense of what is available in each neighborhood. This is the kind of experience that a Realtor can provide. In addition, Realtors have the hands-on, or maybe ears-on, knowledge of what are the most desired areas and trends in the real estate market from being in the car for thousands and thousands of hours with clients and listening to what they are looking for.

A good Realtor also has the professional experience to handle all the aspects of an offer, negotiating, and closing process. There’s more to offers than just a piece of paper with some signatures. A Realtor has an understanding of what is a typical and atypical offer and hence, can guide you through what sales price, option period days, closing date, and the myriad of other options would be appropriate. And most importantly, a Realtor will negotiate on your behalf to get you the best deal. It is so much simpler to have someone with experience to do all this for you rather than guess if your requests are reasonable. And finally, a Realtor will guide you through the closing process with all kinds of help like referrals to good inspectors and lenders as well as making sure the process goes as smooth as possible without any worries from the Buyer.

Purchasing a home is most Americans’ primary investment. When making any other investment, it makes sense to consult with an expert, so why go at it alone? Find a good Realtor who fits with your values and has the right experience to help you.