Which would you rather do...run a mile for $70 or run 5 miles for $90? Every Realtor should think about this before choosing a place to hang their license. Your split won't make you any more or less money. There is no "magic company". Every agency has to keep the lights on and pay the bills. The only way they can do this is to take money from your transaction or charge you some kind of fee. … [Read more...]
What is the difference between a Buyer’s Agent and a Seller’s Agent?
January 31, 2012 By Leave a Comment
There is a huge difference. As you might intuitively guess, one agent is the buyer's, and one is the seller's. A Seller's Agent The seller's agent is also called the listing agent, who is the agent that has a sign in their seller's yard. It is also the agent who may have his phone number on the sign for you to call to get information about the property or have his listing on his website. The … [Read more...]
What is earnest money and how does that work?
January 31, 2012 By Leave a Comment
Before even considering buying a home, you must know that you will have to put some amount of money "down" when making an offer. This is called earnest money in real estate. The amount of earnest money varies with the sale price of the home, but you can typically expect $500 earnest money for homes that are less than $100k in price and $1000 for homes that are $100k to $250k. Some builders … [Read more...]
What to do if you are upside down in your house?
January 31, 2012 By Leave a Comment
If you owe more than the market value of your house will bring, you are "upside down" in your house. There are 4 things you can do about this: Continue to Pay Until Clear. You can continue to pay your mortgage payment in hopes that the market will bounce back, and that the market value will rise above what you owe on your home. Foreclosure. If you need to sell your home, one option is that you … [Read more...]
Please explain real estate broker fees.
January 31, 2012 By Leave a Comment
We have had this asked time and time again, so we figured we would explain how brokerage fees work. There are brokers and real estate agents. There are 2 kinds of brokers: associate brokers (a real estate agent that has completed a broker license course) and there is a qualifying broker (lead broker of the office). All real estate agents and associate brokers are independent contractors that … [Read more...]
How to Get a Preapproval or Loan Prequalification Letter
January 31, 2012 By Leave a Comment
This is probably the most important and most simple process when you start thinking about buying a home. It is typically something people think about last, or at least definitely not first. It takes literally 5 minutes or less of a conversation with any home lender to take some general information to be able to tell you if you can be approved for a home loan. Not only that, they will be able to … [Read more...]
The Home Buying Process Explained in Detail
January 31, 2012 By Leave a Comment
Many people find this topic intimidating, but it is really quite simple. You just need someone who is an expert in the home buying process. These people are called Realtors. It is their job. It is what they do for a living. They are the experts in the home buying process, and there are many in-between steps that the average person will not know. Most home buyers start looking for houses … [Read more...]
What does an Inspector do during the Real Estate Process
January 31, 2012 By Leave a Comment
If an inspection was selected by you when making an offer on a house, the buyer agent will schedule an inspector to come out to the selected house and perform an inspection. The buyer may choose to select which inspector will do the inspection, and a date for the inspection will be scheduled by the buyer agent. Neither the sellers nor the agents should be present for the inspection due to … [Read more...]
How Color Plays a Role in Selling Your House
January 18, 2012 By 1 Comment
http://www.bhgrealestate.com/Live/Make-Over/Color/What-s-the-Magic-Color-for-Selling-Your-House-.html Share This Article Color plays a big part in selling a house. How you decide to dress your walls can convince a buyer that your home is move-in ready or leave them looking elsewhere. If the goal is to see the sparkle of "love at first sight," consider picking the right paint palette to … [Read more...]
What is Home Market Value?
January 18, 2012 By Leave a Comment
http://www.bhgrealestate.com/Learn/Buying-and-Selling/Pricing-Your-Home-For-Sale.html Is your home worth your asking price? The best way to answer that question is to separate what's relevant to home buyers from what's not relevant. Starting with the bare basics, home buyers choose homes based on: Price – their lenders tell them what they can affordLocation – they know where they … [Read more...]
