Realtor Tips – Page 22

Buying a Home or Renting?

October 27, 2021 By Deborah Ward

Should I be buying a home or renting? Many people ask themselves this question everyday. For some, it depends on their lifestyle, but generally, for many buying a home becomes the better answer to the question. In order to help you figure out that answer for yourself, let’s look at this is from why people do each: buying a home and renting.

Renting: Do you know you will have the same job over the next few years? Are you planning on staying in the area or moving? Can you find somewhere to rent that is less expensive than a mortgage payment? Do you prefer to let someone else do maintenance on your living space and have to wait for that maintenance appointment to be made by another person? Renting can be a plus. Generally there are lower up-front costs and more flexibility to move if necessary. The problem with renting, though, is you have no control over rent increases, your living space style, and you aren’t building any equity in the real estate property for you, and the landlord makes the rules.

Buying: Are you planning on staying in the area you live in for more than a few years? Do you want to build a real estate investment? Do you want to be in control of your living space – changing paint or even where walls are, planning maintenance appointments on your schedule? Do you need tax deductions? When you buy, you own the property and all the equity it has. That means you can borrow against that equity to improve the property. It’s yours so you can make any changes to it that appeal to your own personal sense of style. Ownership also gives you tax deductions against your income tax burden for both mortgage interest and your real estate taxes. That is a huge savings. Although the economy is taking a long time to improve, in some areas real estate is again gaining value instead of losing value.

You have to make the decision for yourself, but in the long run, buying a home is much better than renting a home.

Realtor Negotiations – How to Find a Hard Negotiating Realtor!

October 27, 2021 By Deborah Ward

Most people aren’t savvy negotiators. It is a skill that most people generally aren’t comfortable with. Negotiating is hard! When you’re buying or selling a home being a good negotiator would come in handy. So if you aren’t good at it, isn’t it a good idea to hire someone who is? Definitely. So how do you choose a good negotiator?

When you are trying to find a good Realtor, one who is a great negotiator, it would stand to reason that you should find one that will negotiate and compromise with you on their commission, right? Wrong! Why? Think about it. Do you want to hire someone to negotiate for you to back down and give your money away? If you’re a seller, don’t you want someone working for you that is trying to get the most for you? If you are buying, don’t you want someone working for you who can get the best price and concessions? So if they cave on a commission which is THEIR money, how hard will they really work for you?

When you are looking for a Realtor look for one that is fair, but firm. Negotiating doesn’t mean taking a stand and never moving, but making sure to negotiate the best deal. Being fair means both sides benefit, being firm means your interests aren’t ignored. Look for a Realtor who has good relationships with other realtors. A good rapport with others means more buyers for your home, or more homes to go look at. If they can’t get along with other realtors, they won’t be able to negotiate in your best interest. No one will want to deal with them!

Don’t settle for a Realtor who gives in when you pressure them to lower their commission. It’s in your best interest to pay more commission. You’ll end up with a bigger sale in the end!

Why Getting Out of Area Agent Referrals are a Good Idea

October 27, 2021 By Deborah Ward

When you sell your home and buy one in the same area, you know you have a reliable Realtor and you can depend on them to help you. What if you are moving out of the area? You will need a new area agent. How can you be sure to find a reliable Realtor you can depend on as much as the one you know? Have your Realtor give you a referral to an agent from the new town. The new area agent referred from your current Realtor is the best way to find a reliable Realtor that you can trust.

When you are moving to a new town or area, finding businesses or services can be stressful. You’re new and asking other people about who you can trust is difficult because you don’t know anyone. You can take a chance, but buying a home isn’t like picking a grocery store. This is the biggest purchase you will make. When you are spending hundreds of thousands of dollars on a place to live and raise your family, trusting your Realtor is paramount.

More likely than not, you went back to the same Realtor to sell your home that helped you buy it. They have experience, you had a good experience with them and you trust them. Obviously they were good at their job if you are going back to them to sell your home now. Now you need to find another Realtor in another town so you can buy a home there and settle in. How can you find one you can trust like your old one? Ask the Realtor you trust to give you a new area agent referral to a Realtor you can trust in the new town.

The agent referral has an element of trust. Someone who you know is experienced in their field and has provided you with good service is now telling you that someone else is also as experienced and trustworthy. You can rely on that referral. So if you need to find a new Realtor to buy a home out of town, ask your current one. They can point you in the right direction.

Who Pays For A Realtor?

October 27, 2021 By Deborah Ward

Who pays the realtor is a question you may be asking if you are thinking about buying a home for the first time. Realtor’s make a commission based on what a home sells for, and that is usually thousands of dollars. So who pays? Relax, first time buyer, most of the time the seller pays.

Real estate commissions are a percentage of the selling price of a home. That percentage is controlled by the listing contract that is signed between the seller and the Realtor. As a buyer, that should be your first clue as to who is responsible for payment. Generally, you, as buyer, aren’t a party to that contract, so you can’t be compelled to pay for something under it.

So what if you hire a Realtor to work just for you to find you homes? Well, technically the seller pays them as well. What happens in that case is the commission is split between the listing agent and the buyer’s agent. Generally this is what happens, but remember that the seller is not obligated to pay the listing broker for more than the listing side or portion of the commission. In most cases, the split is done with no problems. If you have worries about it, then talk with your buyer’s agent.

Remember that like any other kind of agreement real estate commissions are negotiable. That doesn’t always mean that another agent will negotiate. So, as you should do with any negotiation, don’t immediately insult the other side by demanding concessions on commissions immediately, or make a big deal about the percentage. Remember, again, that you are not a party to the contract that sets that percentage. If you think it will affect your ability to buy, then let your agent handle it.

Go for the Green – Get More Money for Your House with These Tips

October 27, 2021 By Deborah Ward

You’ve decided that you need to sell your home. Of course you want to get more money for your house, so what can you do to make sure you get the most? What tips can you use to go for the green? Pretty simple ones.

First things first, make sure your home is clean. Use your time before the listing goes up scrubbing it from top to bottom. Move furniture and appliances and clean under them. Pack up clutter and put it in storage. Put excess furniture there as well. Soap, water, dusting and decluttering should be your mantra.

That will lead you to the next tip: repair. Fix broken hinges, leaky plumbing, and all those little jobs you’ve been putting off. Do them now. Re-caulk old windows and door frames. Bathroom and kitchen fixtures also need it. Not only does it spruce it up, but it seals out drafts and water leaks. If you have bathroom or kitchen tiles that are loose or cracked, replace them. Re-grouting is also a good idea. Again, it freshens up and makes the room look like it was recently updated.

Update. Yes, if you can afford it, update the biggies: kitchens and baths. Talk to your Realtor and ask their opinion about what, exactly, you should replace. Carpeting should also be professionally cleaned or replaced. Repaint walls. You need to make your home as project free as possible.

Replace appliances. You need to do this especially if you are planning on taking the ones you already have. Who wants to spend top dollar on a house where they will have to immediately buy a refrigerator or washer and dryer?

Have a friend walk through your house and tell what it looks like to them, gloves off, no holds barred. You may get a much better idea of
how others view your home and figure out what to improve. The point is to get more money for your house so put on your thick skin and then put the sweat equity in and go for the green! That check at the settlement table will be your reward!

When Should You Break Up With Your Realtor?

October 27, 2021 By Deborah Ward

Every relationship has their downsides. The one you have with your Realtor is no different. If the relationship has gone bad, you need to break up. Just make sure you do a few things before the break up and a few things to keep in mind during.

If you are selling your home and you’ve become dissatisfied with their performance it may be time to break up. Before you take that step you need to try a few things. First, meet with your Realtor and make him or her aware of the issues you are having. Believe it or not, they may not be aware that you are dissatisfied. Make them aware of your concerns. If you feel that your home isn’t being shown enough, tell them. If you think your home is priced wrong, find out why they priced your home the way they did. Not enough communication? Ask for more. As with any other relationship, try and fix the issues before throwing in the towel.

One thing that you must remember is that having a Realtor list your home means you signed a listing agreement. This isn’t just a handshake agreement; it’s a legally binding contract. There are things that your Realtor is required to do, and things you are required to do as well. Breaking a contract has consequences. Read your listing contract. Make sure your current Realtor is living up to what the contract states. If not, you have grounds to break it. If so, move on to read the clauses where it talks about consequences for breaking the contract and prepare yourself.

Lastly, don’t hire a new Realtor before you break up the relationship with your old one. If you lie about not having a listing contract in place, your new Realtor relationship will start off on the wrong foot. That’s because they WILL find out, mostly because the old Realtor won’t just slink off and lick their wounds. They will think the new Realtor is interfering with a business relationship and possibly sue. End one before starting another.

The Deb Ward Team