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Thursday, August 17, 2017

How to Make Sure You're Hiring the Right Listing Agent

How do you know if you’re hiring the right agent to sell your home? I’ve got a few things you should consider when choosing your Realtor.

As I’ve mentioned in previous videos, there are a lot of things that they don’t teach in real estate school. Interviewing two or three Realtors for the job of selling your house is critical to the success of the sale.

Even in a market as hot as this one, not all houses sell or sell at their asking price. Hiring a competent agent is your best strategy. When interviewing agents, there are a few things you should look out for.

Make sure the sure the agent doesn’t just come prepared with information from your neighborhood, but also has a wider understanding the market in your area. Do they have knowledge of the macro- and micro-markets and see the trends that are happening? Do they know the absorption rate? Anyone can compile information on listings and what’s sold and what hasn’t. Make sure that they can interpret that data.

Being a listing agent is different from being a buyer’s agent.
Make sure the agent that you choose is marketing and tech-savvy. You want them to be able to understand how to market your home across social media platforms and can get it in front of the right buyers and demographics. They should be utilizing every resource that they have available to them both on and offline in order to market your house to worldwide prospective buyers.

What is their track record? What have they sold in the last three, six, and nine months? You need to make sure that the agents you interview can show you the statistics of the homes they’ve listed, not just the buyers they’ve worked with. What are the number of days that those homes spent on market? What was their list-to-sales price ratio?

Being a listing agent is different from being a buyer’s agent. The skills required for each role are different, and be sure to ask the tough questions of the Realtors you’re interviewing to determine that they have the knowledge and experience to sell your home quickly and for top dollar.

If you have any other questions or you’re thinking of selling, please give me a call. I would consider it a privilege to be interviewed by you to sell your home. I look forward to speaking with you.

Monday, August 14, 2017

Do You Know the Answers to These Common Appraisal Questions?

Today I’m covering some of the most commonly asked questions I hear about the appraisal process.

Appraisals are a subject about which people often have many questions. Today, I’ll be discussing three of these common questions.

First of all, what does the appraiser look for? The appraiser first and foremost will be looking for capital improvements to the home. Additionally, the appraiser will consider how a given house compares to other comparable properties of similar size, age, and location.

The radius within which the appraiser will look is usually about a quarter of a mile to a mile, but can vary depending on the average distance between homes in your area.

Granite countertops, upgraded appliances, upgraded bathrooms, improved additions, and finished lower levels are all things that an appraiser will look for.

However, there are a few things that don’t truly matter to an appraiser. Things like window treatments, a new furnace, or a new roof won’t make a difference. These things will be more important to buyers than they will be to an appraiser.

An appraisal is never public knowledge.
The second question is: “What happens if my home doesn’t appraise?” Well if the buyer has an appraisal writer in the contract, they have the right to negotiate with you on the price. Finding a happy medium will be key here. But, if an agreeable solution cannot be reached, the deal will be terminated.

In that case, we get to our third question: “Who gets to see that appraisal?” An appraisal is never public knowledge. The only people who will get to see it will be the buyer and their lender. Technically, you could put your home back on the market without anyone else knowing that it didn’t appraise.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Thursday, July 20, 2017

3 Tips for Winning a Bidding War

Winning a bidding war isn’t as hard as you think when you’ve got strategies like these.

Would you like to win a bidding war in this hot market? I’m going to tell you exactly how to do it today.

Going to real estate school doesn’t teach you how to write a contract, as I’ve mentioned before. You need to hire an agent like you’d hire a lawyer, based on their track record of wins. This indicates that they can write quality offers. That’s one of the best tools an agent can have. Here are three things an agent can do with an offer to help you get the home of your dreams:

1. Remove all contingencies. Or, at least remove as many as you can. This includes financing contingencies, inspection contingencies, and home warranties.

Remove as many contingencies as you can.

2. Write an escalation clause. This says that you’ll beat any other offer by X number of dollars up to a certain max price. It’s very complicated, but can work like a charm in the right situation.

3. Writing a full-price offer prior to the house’s first available showing date. This would be contingent upon you being able to preview the house within 24 hours. An agent is obligated to present every written offer to their client, and one like this would certainly catch their eye. 

There you have it—my top three tips. If you have any questions about them or any questions about real estate in general, give me a call or send me an email. I look forward to hearing from you!