I have learned a lot about treating my business like a real business in the last six months or so. One of the best lessons I've taken to heart is how I look at my time. Is what I'm doing right now the best use of my time? I ask this question all the time before I decide to start working on something.
So when I was told by a listing agent that I HAD to be at a home inspection the whole time, I didn't know what to say. First of all, I never go to any of the home inspections, other than to meet the inspector and let him in the house.
Secondly, the home inspector I use is usually at the house for 4-5 hours. I do not have time to hang out at a house for that long for every contract I write.
I can understand the listing agent being hesitant if the home inspector is unknown, or lacking any of the third party credentials that are available. (Florida doesn't have a home inspector license yet). But our inspector is bonded and insured, and an ASHI and FABI member. I really do not know what my presence could possibly do other than get in the way of him doing his job.
The buyers are not attending the inspection, so there is no issue with the buyers being in the house without an agent. And the buyers do not expect me to attend the inspection, since they understand that I'm not a home inspector.
I wanted to get some input on this. Do you attend the home inspection, and stay the whole time? I'm not sure how to respond if this listing agent insists I stay the whole time.
Thanks,
Melissa Tolson, Buyer's Specialist The Landry Team.
Many homebuyers do not understand that the sales price on a home already includes the commission. Working with the listing agent directly doesn't reduce the price. That commission has already been agreed upon between the seller and the listing agent. Eliminating a buyer's agent just means a buyer does not have someone looking out for their best interest, and the listing agent gets the entire commission.
It's even more important when purchasing new construction! The builder has a budget in place that includes paying a real estate commission. Of course they are more than happy to work with a buyer directly, because they know they are dealing with someone who lacks the skills and experience to negotiate. Agents know that builders can do a lot of things that a buyer may not even think to ask for, simply because they don't have the experience.
Buyers working with an agent have someone on their side, working to help them get the right home and the right terms. There are not very many transactions in life that you can hire professional help and have someone else pay for it! Take advantage of it.
To find out more about how we can help YOU find the right home, and why you should work with a buyer's agent from the Landry Team, click here!
There is a difference between finding the "perfect" house and finding the RIGHT house. No home, anywhere, no matter what the price, is going to have every feature and detail or be in the perfect location. Even someone that builds a custom home will find things they might have done differently, once it's finished.
Finding the right house is a lot easier than you might think! It starts with a serious analysis of your needs, lifestyle, hobbies, family, and finances. There is a lot more to a house than three bedrooms, two bathrooms, and a fenced backyard.
As a buyer's agent, one of things I enjoy most is putting all the pieces of a puzzle together and finding the right house for a buyer. It's about listening, and paying attention to the deeper reasons people want a fenced yard, or a big open kitchen.
Searching and looking for homes is a big part of the process. You can do that any time, from our website. Check it out.
To see how some of our customers have benefited from our approach, watch these video testimonials! To schedule your personal buyers consultation, email me today! melissatolson@kw.com.
I look forward to helping you find the right house!
Realtors have the opportunity to make the biggest difference in the housing recovery.
And it would be so easy, so common sense that it has escaped most agents out there. The closest thing to an easy fix for this solution is to...
PRICE YOUR LISTINGS RIGHT
or
TAKE THEM OFF THE MARKET
An estimated 30% of listings are currently overpriced. If those listings were priced to sell, or taken off the market, inventory would rapidly drop and move us closer to a balanced market.
Sellers have a role in this as well. And agents would be well-served to emphasize this when considering taking a listing.
DON'T PUT YOUR HOUSE ON THE MARKET UNLESS YOU ABSOLUTELY MUST SELL IT!
If you are thinking about selling your house, seriously consider your options. There is no room in today's market for putting it out there "just to see what we can get." If it's not priced aggressively, you will get NOTHING. And it will draw out the housing market's recovery.
Most of these ideas are not at all new. It's just in the last few years that the idea of using your own home to make a quick profit has come to be considered normal. Real estate always has, and always will be, a long term investment. Agents and sellers, and buyers for that matter, would all benefit from keeping that perspective when considering their next transaction.
As a buyer's agent, I preview and/or show property all the time. And I'm constantly checking out which listings sell, take price reductions, go under contract. I make it my business to know the market, and I take it seriously.
But this market knowledge doesn't do anyone any good when buyer won't listen! Charts and graphs, selling statistics, personal anecdotes... these are all great tools when trying to develop an offer. However, I've been running into buyers who somehow manage to ignore or explain away these things and make low-ball offers.
So the tool I've started using is the market itself. Allow me to explain.
When a buyer makes a lowball offer, and gets rejected, it's easy for them to say it must just be that bank or seller or whoever. The second time, it can be a little harder for them but often they will still be able to brush past it. By the third offer, the properties they liked enough to make the first two offers are under contract.
They are starting to see that the really great deals are already priced well, and moving quickly. So the market has showed the buyer that lowball offers don't work, even in a buyer's market. Now they are ready to move!
It takes a little more time and effort on my part, but now that I understand the process, I'm prepared. I can calmly show them the market statistics, and then resignedly submit an offer 30% below asking price. I have figured out that as long as I do whatever I can to help them, and am honest with them upfront so I don't raise their hopes too high, I still look like I'm on their side.
Then they make a realistic offer, close on a house and are happy. They feel like I stuck by them through all the obstacles "the market" presented, and refer me to all their friends. It's a hard lesson for buyers to learn, but they eventually get it.
Description: Spacious 3 bed/ 2 bath.Split Floorplan. Large Eat In Kitchen with Granite Countertops & Tile Backslpash. Open Great Room. Covered Patio. Fenced Yard. Seperate Formal Living Room and Dining Room. C .... View this property >>
2875 Golden Pond, Orange Park, Florida
Price: $170,000.00
Beds: 3
Baths: 2
Sq Ft: 1810
Description: Move in Ready!! Beautiful 3/2 with hard wood floors.Freshly Painted Exterior. Recesed Lighting. Spacious eat in kitchen with breakfast bar. Tile Floors. Indoor Utility Room. Formal Living & Dining .... View this property >>
3584 Waterford Oaks, Orange Park, Florida
Price: $185,000.00
Beds: 4
Baths: 2
Sq Ft: 2314
Description: Open Kitchen w Breakfast Bar looking on to Family Rm. Upgraded 42' Cabinets.Large Master Bedroom. Master bath has separate shower and Garden Tub, Double vanities and Private Toilet Closet.Inside Laund .... View this property >>
There are a couple of questions I get from almost every buyer when they are looking at a listing online. Most of the time, the only way to answer these questions is to go out and see the property. The thing is, it would not be that hard for the listing agent to put this information in the listing!
For example...
Does this house have a fence? If the property has a fenced yard, take a picture of it and put it in the MLS.
Do you have more pictures? I know that each board is different, but in NE Florida, you can put something like 50 pictures up with each listing for no extra fee. If an agent cares about selling a home, especially a short sale, they need to put lots of pictures. As a buyer's agent, I look at pictures before I decide to preview a house, which I do before I decide to take a buyer out.
What's the status of the short sale? I know that this can be a touchy subject to address in the listing, but if there has been a BPO, or any kind of update on the file, this would really help encourage more showings. I really hesitate to show property to a buyer when I'm not sure of the listing agent's experience with short sales.
As a buyer's agent, I screen property in a couple of different ways before I show it to a buyer. It'd be really helpful if listing agents put a little extra effort into making their listings easy to use for us buyer's agents.
Rates on 30 year mortgages rose to an average of 5.29 percent, the highest weekly average in nearly 3 months. Interest rates make a HUGE difference in how much home a buyer can afford.
For example, for an FHA loan with 3.5% down on a $175,000 home, at a 5% rate the principal and interest payment would be $922.42. At 6%, the P&I payment goes up $1030.21. That's an 11.6% increase in the monthly payment!
In other words, you can buy more house for the same payment right now! The increase in rates plays a much bigger role in affordability than a slight drop in prices.
If you're thinking of buying, DON'T WAIT ANY LONGER!
Now that we're officially in Hurricane Season 2009, let's brush up on our hurricane trivia!
What's the difference between a "watch" and a "warning?"
A HURRICANE WATCH issued for your part of the coast indicates the possibility that you could experience hurricane conditions within 36 hours. This watch should trigger your family's disaster plan, and protective measures should be initiated, especially those actions that require extra time such as securing a boat, leaving a barrier island, etc.
AHURRICANE WARNING issued for your part of the coast indicates that sustained winds of at least 74 mph are expected within 24 hours or less. Once this warning has been issued, your family should be in the process of completing protective actions and deciding the safest location to be during the storm.
Do you know why more than 63% of deaths attributed to tropical cyclones occur in inland counties?
More people have died from inland flooding from 1970 up to 2000. Intense rainfall is not directly related to the wind speed of tropical cyclones. In fact, some of the greatest rainfall amounts occur from weaker storms that drift slowly or stall over an area.
In a study from 1970 to 1999, freshwater flooding accounted for more than half (59%) of U.S. tropical cyclone deaths.
Despite all the economic problems, there are bright points in the doom and gloom. The best Buyer's Market we'll probably ever see in our lifetime is out there right now, the silver lining on our economic cloud.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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