Who represents the homebuyer in the transaction? The most common scenario is for homebuyers to purchase a home with the help of the seller's listing agent. In this case, known as "dual agent representation," the real estate agent assists both the sellers and the buyers. However, it is also possible for the buyers to ask another realtor to represent their interests exclusively, acting as the "buyer's agent," a service which is available at no additional cost to the homebuyer. Would you expect the same agent who just promised the seller that He/She would get the highest price is now going to low ball the same person for a buyer? Think again, get a buyer's agent that will not worry about affending the seller.

Any licensed real estate agent can act as your buyer's agent, helping you to locate and look at properties in your price range. However, if that real estate agent works for the same brokerage that is listing a particular property, dual agency or designated agent rules will then apply. The buyer's agent will advise the buyer if issues arise such as termite damage or significant material defects appearing on the home inspection report. If the home appraisal comes in at less than the asking price, the agent will represent the buyer's interest, buy hammering on the seller to reduce their price or find a new buyer.  

When starting out as a real estate investor, you can choose either the conservative approach of holding a property until it increases in value or the riskier approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on taking the safer approach, keep the following factors in mind when searching for the right investment property.

Look for a house or apartment unit that is close to where you live, so inspecting the property and overseeing maintenance will be easier. Choose an area where there is clear potential for future development, and you will benefit from the inevitable increase in property values. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs a cosmetic makeover, buy the bargain property and upgrade it for a better long-term return on your investment.

You see them on cable TV, sitting around a swimming pool, sharing stories about how they got rich quick by buying valuable real estate for give-away prices. They took a course on how to invest in real estate and became millionaires overnight--with nothing down and no credit hassles from mortgage lenders. The course worked for them, and they say it will work for you, too.

If all this sounds too good to be true--it is! These "get-rich-quick" courses and schemes are being investigated by consumer fraud agencies around the country. This does not mean that you can't become a millionaire by investing in real estate. But investing in real estate requires one important thing from you--an investment of cash. You can't build an empire overnight, but you can do very well over the long term by selecting property in a good location that is priced well, and which can provide a reasonable cash flow.

Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs.

Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed.

It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Try to avoid purchasing a house that needs expensive structural improvements such as a new roof, plumbing, wiring, or foundation repairs.

Remodeling a kitchen will rarely add more than the cost of the upgrade, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value.      

Meaning

Fall just short of a successful outcome and get nothing for your efforts.

Origin

The phrase, and its variant 'nice try, but no cigar', are of US origin and date from the mid-20th century. Fairground stalls gave out cigars as prizes, and this is the most likely source, although there's no definitive evidence to prove that.

It is first recorded in print in Sayre and Twist's publishing of the script of the 1935 film version of Annie Oakley:

"Close, Colonel, but no cigar!"

Meaning

A paradox in which the attempt to escape makes escape impossible.

Origin

The title of Joseph Heller's novel, written in 1953 and published in 1961, (properly titled 'Catch-22' - with a hyphen). The first chapter was also published in a magazine in 1955, under the title 'Catch-18'.

The paradox is presented as the trap that confined members of the US Air Force. In logical terms the 'catch' was that, by applying for exemption from highly dangerous bombing missions on the grounds of insanity, the applicant proved himself to be sane (after all, that's what any sane person would do). If anyone applied to fly they would be considered insane. Either way; sane or insane, they were sent on the missions. This might be described logically as, 'damned if you do and damned if you don't', 'the vicious circle', 'a chicken and egg situation', or 'heads I win, tails you lose'.

Know your local market stats and use them to help educate buyers and sellers. Revamped listing presentation to provide fresh new emphasis on pricing.  Incorporated up-to-the-minute market stats into that presentation.  Prices are adjusting to meet our current market conditions. Sellers are seeing first hand what is happening in their neighbor hoods-it's hard to ignore the facts.

This approach  is very much centered on very current, very local market facts, not opinions or projections but plain old facts.  In a time when the national media is the source most people use to get information, it is up to you, as your clients' real estate agent to keep them updated on what's happening in our market. It is not that the media intends to mislead; they just use national housing numbers or lump the West together which includes the very hard hit Nevada and Southern California market.

In this market your clients not only need a good salesperson but a trusted advisor to guide them through the process and pricing challenges.

Thank You.

No Problem or You're Welcome !

What ever happened to YOU'RE WELCOME" as a courteous response to "Thank  You ?"

Have you noticed that it seems that "You're Welcome" has become rare in the English language? Actually, it is almost non existent these days.

 "Thank you so much." 

Response "No Problem"

 Go through the day and see how many "No Problems" you get.  It will be a lot. I am sure the "You're Welcomes" will be few.

As the younger generations slang infiltrates our daily vocabulary, one must admit it is contagious. I must say, I have used the term loosely myself until I really started thinking about it.Do I want my clients thinking I considered their want or need to be a problem?Do you want your client thinking you considered them a problem?

Our parents used to speak Pig Latin but it seems to have disappeared, thank goodness.

As professionals, we should say good bye to "Dude, No Problem, and Peace Out".

 Thank You!

Negotiations for the sale of a home can be affected by emotional factors. For example, it is easy to be offended by someone who is making an offer on your property. Even if the buyers love your house, they are trying to negotiate the best possible price and terms. They probably will not let you know how much they want your home until they have negotiated a purchase agreement.

Buyers almost never write offers that please the sellers entirely. Offers and counter offers may be traded back and forth over days or weeks. Terms of the sale will be discussed and deadlines will be set. When there is finally a meeting of the minds, both sides may feel relieved but exhausted by the process. One of a real estate agent's most important jobs is to act as the intermediary during such negotiations. With your agents knowledge of financing, negotiation procedures, and the tax laws affecting real estate sales, agents come up with creative solutions to the challenges that may arise.