Real Estate Update

Posts Tagged ‘Reasons’

Find an experienced, trustworthy realtor and let them help you find your land, and guide you through the land buying process. A Realtor is your best friend during this process and will walk you through it from beginning to end. They will help you avoid many of the pitfalls and problems that arise when buying land.

The Realtor Is Free!

The realtor is paid a commission from the sale of the property. The commission is paid by the seller so you use a realtor for free. You don’t have to use the realtor who listed and advertises the property. Choose the realtor you want, the payment will be worked out between the two realtors, and you will have the realtors services for free.

The Realtor Will Help You Find The Right Property

A realtor has access to the local MLS (Multiple Listing Service) which lists all the property for sale by realtors in the area. Using the MLS the realtor can find properties that meet your criteria and take you to those properties. Many MLS’s are now listed on Realtor.com, where anyone can view them, but the realtor is an expert at using this information to find the land you are looking for.

The Realtor Will Do the Work For You

The Realtor will do most of the work involved in finding and purchasing property. A real estate purchase transaction is a complicated procedure which involves many details as well as many people. In most cases the transaction will be easier and much smoother if a realtor is involved in the process.

The Realtor Will Help You Pay A Fair Price For Land

One problem for buyers is paying too much for land. It is difficult to know what the land is really worth. Because realtors deal with many parcels of land they know approximately what a specific parcel of land is worth. 
In my line of work I have observed those who use a realtor usually buy land at a fair price. Keep in mind the realtor who listed a parcel of land has an obligation to sell for the highest price since they represent the seller.

The Realtor Will Show You The Property

The realtor knows the local area and will help you find the land you are looking for. Looking for land may involve driving down back roads without directions or street signs. The realtor will take you to the properties you want to look at, and the areas you want to look in.

Often a piece of land does not have an address or directions. Sometimes you will need to read legal descriptions and topographical maps. The realtor has experience in reading these and can take you right to the property, and show you the property boundaries.

The Realtor Will Help You Avoid Many Problems

Using a realtor will help you avoid many of the problems experienced by land buyers. Many of these problems don’t arise until after the purchase. There are many possible problems, too many to mention, but include such things as: road issues, water rights, mineral rights, etc. Save yourself from many problems and use an experienced, trustworthy realtor.

“TOP FIVE REASONS TO OWN A PROPERTY IN NIGERIA”

 

Realtors can greatly help with a home transaction. Whether buying or selling, a realtor can provide expert advice and support when making one of the biggest decisions you will make in life. It is important to know that only those that are licensed with the National Association of Realtors can be called a Realtor. These individuals will provide full honesty in any home transaction, and remain true to their code of ethics, ensuring full professionalism in any sale or purchase.
When buying a home, a Realtor will be able to help you determine how much you can afford to spend on a house. They will review your savings with you, as well as any other income or debt and will work with you to provide a reasonable price that you can pay. They can also help you work with any lenders and may be able to suggest one that will be able to suit your needs.
A Realtor also has access to just about every home on the market, even if they are not being aggressively advertised. This will help further your search and provide resources that you would not have if you were going it alone.
Often buyers are “swept off their feet” by a certain property. This can be good but a Realtor can also objectively provide information to help you make a decision as to whether the home is really what you want. For instance, a home not being in a school zone may not be a problem if you don nt have children but it will affect the home’s resale value and the Realtor is there to point these things out. Along with this information, the Realtor can also help with utility information, zoning information, and other various items that a buyer does not necessarily have access to, or think about.
There are many negotiations to be made in any real estate transaction and a Realtor can assist with these. Just a few of these negotiations could be financing, inspections, or the price of a home. A Realtor will have the insight and the knowledge to make these negotiations on their client’s behalf.
A Realtor can also provide, or finding appropriate professionals to provide, pertinent property information. This could include finding home inspectors, sewer inspections, and termite inspections. Again, these are just a few and a Realtor will know what needs to be looked at and evaluated. Realtors will also provide the title during this process and explain the many confusing terms.
Finally when buying a home, a Realtor will help coordinate the closing process and ensure that there are no surprises. They will help everything move slowly, and get you into the home you have chosen as quickly as possible.
A Realtor is an invaluable resource when selling your home as well. They can give accurate and up-to-date information regarding the condition of the marketplace, and what other comparable properties are being listed for.
A Realtor can also greatly assist with marketing your home. They will not only place it on MLS but they also have other resources available to them that will get your home sold as quickly as possible. They will advertise not only to the public, but to other agents as well. Speaking to other agent’s will significantly increase the chances of your home being sold quickly. A Realtor will also advise you on any repairs that need to be made to the property. A Realtor also has the knowledge of how to sell the property and to whom. They will then assist and are present for any showings, saving the seller the hassle of needing to be available and walking strangers through their home.
Once offers are made on the property, a Realtor will walk the seller through any offer to help them determine if it’s in their best interest. They can also help negotiate and speak to the prospective buyer and that buyers agent to get the best sell for their client.
And lastly, a Realtor will also ensure that the closing process goes smoothly for the seller. They will help with the paperwork and suggest any last minute repairs that need to be completed. They will work with you to make sure that the closing process goes as quickly as possible.

Some people choose to use a real estate agent and some people choose to go it alone. One thing I have noticed over the years is that a number of seasoned investors looking in a new city will seek out a good agent while novice investors will frequently go it alone. I have even had a number of successful real estate agents seek out my help when they are moving to our city. Why do some of these seasoned investors choose to work with an agent? Below is a list of 7 benefits of using an agent.

1. Understand potential restrictions of the property. I recently heard a story from a friend at the city development office in Austin Texas. A couple had saved up for their retirement. They wanted to retire and live out in the hill country. They went to the foreclosure auctions. At the auction they purchased a lot for 500,000. It had great views and they were going to build their dream house on it. They had researched the lot before the auction and found it was zoned SFR which means a single family residence can be built on it. After purchasing the lot they started plans to build their retirement house. At this time they discovered the lot was in the 25 year floodplain. My friend at the city development office explained that the lot could not be built on and was basically worthless.

2. Know about new developments that might affect a properties value. A good realtor will know of proposed new developments that might affect different properties in which a buyer is interested. Whether these developments are positive or negative can be valuable information when weighing different housing options.

3. Find potential problems with a property. It is always a good idea to have a home inspector look at a potential house. However, a Realtor is a good first line of defense to see if a house has inherent problems. A Realtor that can know about common problems, such as foundation or electrical, that affect a particular neighborhood.

4. Understand contracts specifics. Whenever you buy or sell a house you are entering into a large personal transaction. It helps to have someone on your side that deals with these types of transactions on a daily basis. A Realtor can help you understand contracts and can explain what is typical for your area. The most common pitfall into which I see unrepresented buyers fall is to become involved in an atypical contract that is not to their benefit. For instance a seller will sign an offer that has an option period that is 4 times longer than what is typical. A buyer might put in offers on multiple properties with long option periods. The buyer will wait and see if the market appreciates. If the market has appreciated the buyer buys the house at now and undervalued price. If the market has gone down the buyer walks away.

5. Misperception of a benefit of going it alone. Buyers frequently think that by not using a buyers agent they will get a better deal from the seller. In most situation the listing agent asks for 6 percent from the seller. If a buyer comes with an agent the listing agent splits the 6 percent with the buyers agent. If an unrepresented buyer comes the listing agent keeps the whole 6 percent. On the selling side, For Sale By Owners (FSBO) often think they are saving alot of money by avoiding a listing agent. Nationally, FSBO homes sell for 14 percent less than agent listed homes in the same neighborhoods. In addition alot of FSBO’s still end up having a buyers agents involved. There is also money spent on advertising. Since an agent has experience marketing homes the agent often can spend money more effectively on advertising. Agents often know which advertising sources produce the most potential buyers.

6. Save time when looking for listings. Looking for listings without an agent can take up large chunks of time. When looking with an agent you can see several homes in a few hours. When going it alone you have to call the listing agent for each house and wait at the house for the agent to arrive and open up the house. In addition agents often know houses which are not listed or may have already identified potential problems with a particular house of interest.

7. Insure Security. When a home is listed with a broker, agents coming to the house have to usually log in. This allows the listing agent to keep a record of every party coming into the house. Since their business is on the line, agents are more likely to protect the house from damage or theft. For a variety of reasons, it is generally not a good idea to have random people you do not know come into your house. Often sellers simply have a phone number, but that phone could be their house, a friend’s house, a pay phone, or even a stolen phone.

Searching for a home can be stressful and difficult but it can also be fun. Whether you choose to look for a home on your own or with a Realtor its a good idea to be a extremely careful when you seek out your dream home.

When the time comes to sell your home, it seems like your To Do list is a mile long. The house has to be immaculate inside and out, the hoards of potential buyers are beating on your door, and the legal and financial details of the home sale process loom. Don’t be tempted to handle this situation by yourself; instead, make your life infinitely easier and use a Realtor to help you sell your home.
The lure of saving money is a strong one. Most Realtors charge between 5% and 7% on commission. As the seller, this comes out of your proceeds at closing. I know you’re doing the math right now, and thinking that there’s no way that using a Realtor is worth anywhere near this much money. However, it truly is worth every penny; here are the top 3 reasons why you should use a Realtor when selling your home.
1. The Security of Your Family and Home
You cannot put a value on the security of your family and home. You want your family to be safe in your home without having to worry. But remember when I mentioned the hoards of potential buyers for your home? If you sell your home yourself, you have to meet with each one of these buyers by yourself. The problem is you never know who these people really are. It’s horrific to consider, but it has happened where people have gone to a home on the premise of looking to purchase it and instead have committed a crime.
When you use a Realtor, you don’t have to meet with the potential buyers and thus expose yourself and your family to possible harm. Instead, each person that enters your home is accompanied by a licensed Realtor. This helps you twofold. First, because the person is in your home with a Realtor, you and your family don’t need to be there. This mitigates the risk of someone harming you while in your home. Secondly, the chance of someone committing a crime against your property, either through theft or vandalism, is drastically reduced by their Realtor being present.
2. The Value of Your Time
Let’s backup for the moment to a point I mentioned previously – the hassle of dealing with potential buyers. When you sell your home yourself, you’re the sole contact with potential buyers. If someone wants information, they contact you. This means your phone will be ringing constantly. And you can’t just ignore these calls; if you do, your house will take even longer to sell.
Even better – remember the part about keeping your house immaculate? When you sell your home yourself, this has to be true 100% of the time. People can and will pull up outside your home and demand to look inside at any time of the day or night. If you ask them to come back at a more convenient time, you could easily lose a sale.
But by using a Realtor, this hassle is saved and your time is reaffirmed to be as valuable as you and I both know that it is. Your Realtor handles all the phone calls, and is specially trained in how to answer these calls professionally without compromising the sale of your home. And your Realtor coordinates the showings with other Realtors, leaving you with specific times for the showings. This will allow you to relax and enjoy the time you have remaining in your home.
3. The Value of Peace of Mind for the Future
Selling a home is a complicated legal and financial prospect. Sure, you can buy generic forms to fill out for the Purchase Agreement and everything else needed. But what assurance do you have that they’re filled out in a way that protects you for the future? After all, you certainly don’t want to deal with a lawsuit five years from now with your buyer saying that you made an error in the paperwork on the transaction.
When you hire a Realtor, they shoulder this burden. Realtors are required to carry what’s known as Errors & Omissions insurance. This insurance protects you from such little errors. If there’s a problem, the insurance company is who works to resolve the situation, not you.
So don’t succumb to the lure of saving the commission money. Hiring a Realtor is the absolute best thing you can do as you prepare to sell your home.