Here are a few important questions you, as a seller’s agent, may get from clients. It would be wise to have answers prepared for the all important listing appointment. Some of these would also apply to agents working with buyers.
Real estate professionals are used to being asked questions by buyers and sellers, but not all questions are created equal. In this column, we take a look at five of the most important questions to ask before you decide to work with a particular agent. Read More.
Relisting a home isn’t an enviable position for any seller. Something went wrong the first time, and for many sellers, trying again to sell the home raises more questions than answers.
While it’s common for real estate agents to handle relistings, data on just how common the situation is can be hard to come by because some agents pull listings for a week or two and then relist. It’s a tactic designed to make a home listing look fresh. But increasingly, a true relisting is defined as having a 90-day gap between the time the property goes off the market and when it comes back. In that scenario, many real estate agents say it isn’t always price that kept the property from moving. Read More.
With shrinking inventories, many home buyers are finding only competitive offers will win them the house they want. A recent article by Kiplinger’s Personal Finance highlighted several ways that home buyers can make more competitive “irresistible” offers.
1. Be preapproved: About three or four months before home buyers even shop for a home, they should review their credit reports to make sure they’re accurate and take short-term steps to improve their credit score, says Michael Corbett, author of Before You Buy! Corbett says buyers then should get a bank’s preapproval. While that won’t guarantee they’ll get the loan, it shows sellers that a lender has verified the buyer’s income and credit score to determine that she can afford payments on a mortgage for a certain amount. Read More.
Open houses are a great source of information about the property, neighborhood and local markets. Nearly half of real-estate buyers go to one.
1. Look past window-dressing
A full 94% of sellers do some “staging,” such as repainting or bringing in new furniture, says Coldwell Banker.
“You can be so wowed by staging that you overlook important things,” says San Jose realtor Carl San Miguel. To focus on what matters, lift rugs to look at floors, ask the agent to turn off music so you can listen for nearby noise, and beware of any smells masked by candles. Also request a disclosure sheet, which lists known structural issues. Read More.
Whether representing buyers or sellers, Realtors® have a duty under Article 1 of the Code of Ethics to treat all parties honestly. That much is clear. What is not quite so clear is how wide the net of all parties is to be cast.
Does all parties refer only to signatories to a contract? Or might it also include their family members; and, if so, which ones? Are prospective or intended beneficiaries of a contract also parties to whom a real estate agent may owe a duty? And are such duties owed even if no contract has yet been formed? Read More.
These days, there’s so much technology around that it’s easy to get caught up in it, thinking it’s the secret to real estate success. But sometimes it’s the absolute basics that can be the most powerful business tools, but they’ve become neglected or overlooked entirely.
How would you like to win the listing before you even get to the presentation?
What a great situation that would be, and it’s so simple: A prelisting kit and four to eight photo testimonials with a contact phone number (and that’s really important) can do the job for you.
In my training seminars for real estate professionals worldwide, the responses amaze me time after time when I ask these questions. Read More.
It is a rare occurrence these days to have a home’s buyer and seller sit down around the kitchen table to make a deal. In some areas, they do still sit around the attorney’s boardroom table to close the deal, but by that time, the deal is done and the ship has already sailed on any avoidable mistakes.
So in the vast majority of home sales, buyer and seller never connect in person, never talk, and never exchange insights or information except in the most formal, written formats – despite being effective business colleagues in one of the single most important transactions of their lives. Read More.
A real estate agent’s job entails more than assisting clients with the nitty-gritty details of buying or selling a home. Good agents also tour as many homes as possible. Knowing the local inventory gives them an edge over the competition and provides great value for future buyers and sellers because those agents know the market — their product.
Having toured hundreds of homes through the years, agents have come to loathe certain sights. They sometimes leave houses wondering whether the seller even knew a showing was scheduled for that day. Read More.
A Connecticut court has considered whether a lawsuit involving a commission dispute between two REALTORS® should be stayed and sent to the local REALTOR® association for arbitration.
Sotheby’s International Realty (“Listing Broker”) served as a listing broker for a property located in Greenwich, Connecticut. The Listing Broker placed the property into the Greenwich Multiple Listing Service (“MLS”), offering a cooperative commission to other participants who produced a buyer for the property. Read More.
I doubt you can find too many home-sellers on the planet who complain that their agent communicated too much with them, but there are certainly plenty who feel they weren’t communicated with enough.
And “communication” isn’t just about calling every week to say, “Hi, how’re doin’?” No, it’s also about keeping the seller informed on local market activity, providing feedback from showings, and notifying him of new competing listings and recently closed sales. Read More.