Immobilienmakler Scout

For a variety of reasons, at some point, most people decide, the time is right, for them, to sell their home. Since, for most, the value of this house, is, their single – biggest, financial asset. or one of them, wouldn’t it make sense, when this time arrives, you are more aware of some real estate realities, and proceed, with a better knowledge, of a variety of relevant factors, especially, pricing decisions. How one prices his home, from the onset, often, has significant ramifications! Wouldn’t it make sense, to better understand, as many relevant factors, as possible, in order to avoid, the tendency, to, either, over – price, under – price, or, list your home, just – right? With that in mind, this article will attempt to review, consider, examine, and discuss, what this means, and why it matters.

1. Pricing too high: One of the age – old challenges, is, the conflict, between what a homeowner, believes, his property is worth, and, what, qualified, potential buyers believe, and/ or, are willing to pay! When, a seller, over – prices his house, he risks, getting the best possible results, because, in the vast number of cases, the best offers, are received, within the first few weeks, after a house, is listed, on the real estate market. Whether, it’s because of greed, optimism, wishing/ wishful – thinking, or failing to realize, a listing a selling price, are far different entities, this approach, rarely works. There is, generally, lots of competition, and, what lenders, appraise properties for, and, unless these align, few houses sell!

2. Pricing too low: The risk of listing a house, too low, is turning – off, some potential buyers, because, they feel/ believe, there must be something wrong, if it’s being offered, so – cheap! There is a fine line, between, offering something, at the lower end of the market, as compared to, significantly below, that point!

3. Pricing just – right!: The listing price, a home is initially offered for, should depend on the existing local real estate market. Since, this varies, from region – to – region, state – to – state, and neighborhood – to – neighborhood, and even, sometimes, depending on the specific block, and the location on the block (corner, mid – block, adjoining properties, etc), one should hire a qualified real estate agent, to serve and represent them, and their best interests! The pricing range, should be determined, by having a professionally prepared, Competitive Market Analysis, or, CMA, guide the process. A homeowner’s unique needs, and personal situation, are significant factors, in determining, where, in that range, is the finest, listing price.

Obviously, the best way, and approach, to pricing your house, for sale, depends on a variety of factors, conditions, needs, and priorities. However, when the initial listing price, is just – right, instead of too high, or low, your results, will generally, be better!

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Richard Brody

In today’s California condominium market not only should the seller prepare the unit for sale, but the seller should be prepared with certain information about the homeowner’s association–prior to listing. Do you as a seller know how many owners live in the association? Are you familiar with your association’s Conditions, Covenants & Restrictions (CC&R’s)? What about upcoming assessments for planned maintenance work on the common areas?

You’ve worked hard repainting your unit, cleaning the carpeting and possibly upgrading the countertops in your kitchen and bathroom, and you’re ready to have buyers take a look. Then perhaps you obtain an offer from a motivated and excited buyer and you open escrow and plan to close in 30 days. But wait, have you considered other issues that could impact your sale?

For instance, did you know that having less than a 50% owner occupancy ratio means you may need to obtain an offer from an all cash buyer? Unfortunately, many condo owners do not realize that with a higher number of rental units comes a lower probability of buyer mortgage financing. Many lending sources have a higher criteria than required under FNMA loan rules, and may require 70-75% owner occupancy before agreeing to your new buyer’s loan. At a minimum, 50% owner occupancy is required for FHA loans (this applies only if your building is FHA approved, by the way). In a 32 unit building for example, 16 renters will be too much. Lest you think otherwise, this situation is not unheard of and in fact exists in a very upscale area where the owners don’t want to let go of their units after they have moved on to a single family house. It has presented a lot of difficulties for those owners who wanted to sell. If you wait until you are in escrow for the buyer/buyer’s lender to find this out, much time will have been wasted and the transaction may end up cancelling. Wouldn’t it be wise to bring this issue up to your Board of Directors so that the general membership could review the policy for handling rentals?

Property owners should not be living in oblivion while allowing their association’s owner ratio to decline year after year. This could mean the difference between selling a unit while it still has equity or as a successful short sale, or forcing one into foreclosure because the owner has no other way out of their situation because no lender would grant financing and no all cash buyer could be found. A foreclosed unit in an association means a drop in collected owner’s dues and a possible increase for remaining members, or at the least a lack of contribution to normal operating costs. Plus, the market value of all units in that association may be impacted if it now becomes impossible to obtain financing, or cash buyers bring in „lowball“ offers to a desperate seller. Typically, a lender’s HOA Certification submitted to the Board or property manager may ask how many owners, how many renters, and how many vacant units. You can circumvent wasted time by contacting your Board or property manager beforehand to obtain this information.

Let’s say the owner occupancy ratio is still fine, but there are delinquent owners in the building, possibly due to loss of employment, or units already in foreclosure. Did you know that if an association has over 15% of its owners 30 days (or more) behind in their association payments, the lenders will probably not make a loan until that number is decreased to less than 15%. In a smaller building of 30 units, that would take only 5 units. What if those particular owners are foreclosures held by a bank which is not paying dues until the unit sells, or owners who have abandoned their units and are unreachable? Has your Board of Directors suggested a remedy to assist current sellers in good standing? This is information you the seller should look into before you list your property. Why wait until you’re in escrow and then find out the lender won’t go forward due to this issue? Again, your Board of Directors (possibly the Treasurer) or your property manager representative should be able to quickly provide you with this information.

These are two of the biggest issues that a seller may confront, but others may include whether or not your association has a reserve study–how much money is set aside in your annual budget for reserves? Ideally it would be about 10%. Does your association have CC&R’s updated in the last 5 years, or are you still operating on your original documents that are probably very out of date with today’s laws? What is the pet policy in your building? Many buyers have pets and will need to know in advance what to expect, i.e., two dogs may not be allowed, but one dog under 35 lbs is allowed. Are you aware of any litigation within the association? This is a disclosure asked of California sellers in which lenders have a direct interest in the risk of lending there, depending on the particular issue.

In a homeowner association, the concept of „the greater good“ is very close to the surface. Members of an HOA are bound together by a particular legal umbrella found in the California Civil Code that does not exist in a non-association neighborhood. Condominium living was and is really meant for the owners who plan on living there, and it may not work well for long-term absentee landlords, because now more than ever, the transfer of these units is greatly controlled for the first time by mortgage lending criteria.

For more real estate information please visit my websites. I would be happy to respond to any questions concerning this article, or condo selling in general.

http://www.longbeachrealestate.blogspot.com

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Julia Huntsman

If you are looking for a cheap home appraisal, or free home appraisal, then read this article. I will show you two ways to get your home’s value for free. In today’s real estate market you need to know the true value of your home before you list it for sale. If you are buying a home you need to know how much that home is really worth in a declining market.

Real Estate Agents – Using a local real estate agent you should be able to get a close estimate of the value of your home or property. Real estate agents have at their fingertips many tools that will give a fairly accurate estimate of your home’s value. What will this cost? Usually it is free. So what’s the catch? Well, most realtors will do this for you in hopes of getting your business. Should you let just any real estate agent do this analysis? I say no. You want to select a real estate agent that is familiar with your subdivision or area. You also want an agent that understands how the features in your home will either increase the estimate or decrease the estimate. Once you receive an home value estimate, then you should use the next method to verify that the estimate is correct.

Home Appraisal Websites – I like using some of the free online home appraisal websites, like HomeGain. HomeGain will give you a fairly descent estimate within a few seconds. All, you have to do is supply your address and a few details about your home. Click the button, and within a second or two you will have a free home appraisal. There are other sites on the internet that do this type of appraisal but many are not free. I suggest that you get at least two estimates from an online source and then compare it with a real estate agents estimate. This should give you a fairly good idea of how much your home is worth.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Jordan S Ashton

To first-time or even repeat buyers it can be daunting to figure out what all your martgage options are. Especially when you’re time pressed to make a commitment to one after you have drafted a contract to purchase a home. Here is an overview of available mortgage products. I’ve added common loan terms from mortgage lenders.

-Affordable housing loan: umbrella term used to cover various loan products targeted to first-time homebuyers.

-Assumable loan: existing mortgage loan that can be assumed by another person; most conventional loans are not assumable; government loans are assumable with qualification of the new person.

-Bi-weekly mortgage: one-half of the mortgage payment is paid every two weeks, resulting in one extra full payment toward principal each year.

-Blanket mortgage: mortgage secured by more than one piece of property.

-Blended rate (or wraparound) mortgage: refinancing plan that combines the interest rate on an existing mortgage loan with current interest rate for an additional amount of loan.

-Bridge (or swing): loan used to bridge the gap when someone is purchasing a new home before they have gone to settlement on their previous home.

-Budget mortgage: another name for a loan that included taxes and insurance along with the principal and interest payment (PITI).

-Installment sale (also called a land contract): usually a private agreement between a seller and buyer where title is not conveyed until all payments have been made.

-Carry-back financing: whenever a seller agrees to finance either the first or a second mortgage on the property.

-Chattel mortgage: a pledge of personal property to secure a note.

-Construction loan: short-term loan made during the construction of a house.

-Home equity loan: either a lump sum or a line of credit made against the equity in a home.

-Interest-only: Your monthly payments only cover the interest on your mortgage loan. Your payment does not include any principal payments to create equity. In a market transitioning from a sellers to a buyers market, you might loose money on the sale of your home.

-125% loan: A loan product in which you are actually borrowing 25% more than the present value of the property you are purchasing. If you should have to sell the property in the first few years, you will find yourself „upside-down“ in the mortgage, owing more on the mortgage than you can sell the house for.

-Open-end mortgage: one where additional funds may be borrowed without changing other terms of the mortgage, typical for construction loans.

-Package mortgage: mortgage secured by a combination of real and personal property; often used for vacation property such as a cabin, beach condo, or ski chalet.

-Portable mortgage: new concept; mortgage loan can be carried with you from one property to another.

-Purchase money mortgage: any loan used to purchase the real property that serves as collateral but usually refers to seller-held financing.

-Reverse mortgage: special program for senior citizens (62 or older), which utilizes the equity in the seniors‘ home to provide additional income without having to sell their home.

-Sub-prime loan: loan with risk-based pricing for persons unable to qualify for prime conventional loans; typically has higher rate of interest; credit scoring and appraisal are critical.

Mortgage terms.

-Mortgagee: the party receiving the mortgage, the lender.

-Mortgagor: the party giving the mortgage, the borrower.

-Mortgage: document establishing property as security for the repayment of the mortgage loan debt.

-Note: a written promise to repay a debt.

-Deed of trust: document conveying legal title to a neutral third party to provide security for the mortgage loan debt. The choice of whether to provide collateral for the loan through a mortgage or a deed of trust depends on individual state law.

-Default: failure to carry out the terms of the contract; the most important term being the agreement to make regular payments.

– Loan-to-value (LTV): percentage of what the lender will lend divided by the market value (e.g., property worth $200,000 with a LTV of 90% means that the lender will loan 90% of the value, or $180,000, and a down payment of 10%, or $20,000, will be required from the borrower.

-Qualifying ratios: the percentage of gross monthly income allowed by different loan programs.

o Front-end ratio is the amount allowed for total housing expense.

o Back-end ratio is the amount allowed for total debt. Example: Fannie Mae/Freddie Mac ratios are 28/36 or 33/38 for affordable loans. FHA ratios are 29/41.

-Points: each point is 1% of the loan amount. Lenders often charge a l% loan origination fee. Additional points may be charged to discount (lower) the rate of interest.

-Buy-down: a cash payment to the lender that lowers the rate of interest; often used a marketing technique by new homebuilders. Example: Property selling for $200,000 with a 2-1 buy down. Interest rate for first year is 4%, second year 5%, and life of the loan 6%.

-PITI: usual components of a mortgage loan: principal, interest, taxes, and insurance. Payment is attributed first to principal, next to interest. Taxes and insurance are paid from an escrow account. Interest and taxes are tax deductible.

-Principal: the balance due on the amount originally borrowed.

-Interest: the amount charged by the lender for the use of the amount borrowed.

-Conventional loan: any mortgage loan that is now government insured or guaranteed.

-Government loan: FHA-insured or VA-guaranteed loans.

-Conforming loan: conforms to Fannie Mae/Freddie Mac guidelines.

-Nonconforming loan: does not conform to Fannie Mae/Freddie Mac guidelines.

-Jumbo loan: one that exceeds current Fannie Mae/Freddie Mac loan limits.

-First mortgage (or Trust): the primary loan placed on the property.

-Junior, or second mortgage (or Trust): secondary loan sometimes used in conjunction with first mortgage or one placed sometime after closing on first; such as a home equity loan.

-Portfolio lender: one who retains and continues to service the mortgage loans in-house.

-Prepayment penalty: a fee charged by the lender if you wish to pay off part or all of the balance due prior to the scheduled end of the term; penalty not allowed on any conforming or government loans; most often seen in jumbo loans and ARMs.

-Negative amortization: occurs whenever the monthly payment is not enough to cover the interest charges for that month with the additional amount being added to the principal balance; results in an increasing principal balance rather than a decreasing principal balance as occurs with a fully amortized loan.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Mark Nash

When the owners of houses want to sell their own house without the help of any real estate agent or broker, they are called for sale by owner. The National Association of Realtors did a survey report in 2006 that showed that only 7 percent of all sellers were FSBO. There are a lot of hurdles that they have to face when selling their house without the help of any professional. Some of the hurdles may be marketing techniques, timing among others, preparing and designing the house for sale and negotiations.

They need to undertake these hurdles and have to do proper planning because only then you can sale the property successfully. There are many advantages of having for sale by owner, because when there is no middleman, there are no commission fees, so profits are more. Another benefit of this method is that when the owner of the house makes the sale himself, he takes care of all the conditions and clauses in the contract. In case you take the help of a real estate agent for selling your house, the broker is more concerned for the commission and thus forgets other aspects.

If you want to go for FSBO, then you must take care of all the paperwork yourself, and therefore you need the complete knowledge of the market. First of all, you must consider the market price of your house. If you overestimate the cost, you will not find buyers, and if you underestimate the price, you will be at a loss, so proper cost analysis is required. Once you get the market price of your property, you need to get all the papers that are needed to do the sale.

After all these things, now you have to place an ad of your house to attract potential buyers. For this, you can use multiple listing services, and there are various websites for this purpose. You can get the opportunity of allowing tour of your house as a lot of websites give you this kind of service. If you do not want that, you can just include the images of your property so that buyers can have an idea about your property.

You have to face many challenges and hurdles in spite of having various attractive options, like saving in commission etc. You need to sort out all the matters yourself since there will not be any agent or broker to help you out.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Adam Sawyer

If you do NOT read this report you will almost certainly lose thousands of dollars when you sell your home…

Home sellers don’t know how to spot a good real estate agent

This is understandable when you consider that you will only buy and sell one or two properties in your lifetime. Your home is probably your biggest asset. So, be careful whom you choose to sell it; one slip-up from an agent will wipe thousands off your selling price.

Ask the right questions

Many home sellers ask the WRONG questions when they interview an agent. They ask questions such as „How much do you charge?“ or „What’s my house worth?“. While these questions are important, they should only be asked after the agent has told you what they’ll do for you and how they’ll get you the best price.

This report is your guide to hiring a real estate agent. I’m going to show you how to spot and select the best agent to sell your home. After all, I believe there’s no one better to sell your home than a highly skilled agent. The problem is that highly skilled agents are hard to find.

WARNING! Don’t settle for second best. Too many sellers make the mistake of picking the ‚best of a bad bunch‘. You could be better off without an agent

Check out your agent

It’s a sad fact, but many people don’t check-out their agent until after they have signed with them – by then it’s too late. After you sign you’re stuck; you could be locked into a ‚minimum 90 day‘ contract.

The questions and information in this report will give you the knowledge you need to keep the power when you’re selling a house. After you sign you lose your power.

Agents love to say they are all different but basic research will prove most are the same. It’s the ‚cookie cutter‘ approach when it comes to selling your home – every property is sold the same way.

What to look for when choosing an agent

In 2006 Neil Jenman (my Dad) was asked to provide a list of questions, comments, and hints to help home sellers choose an agent for a TV show he was hosting. He called his list of questions and comments, GUIDE TO GRILLING AGENTS. Over the last few years I have given the guide to many home sellers. This report contains many of the questions and comments in his original guide.

What does a good agent look like?

Most agents will be well dressed, on time, and prepared. But the best real estate agents will be the ones who put your interests first. They will offer solutions that suit you first, not them.

Agents who ask for money to advertise your home should rarely be hired. After all, if advertising was the only reason your home sold why do you need a real estate agent?

Questions are the answer

Sometimes the answer to one good question will give you the confidence you need to hire the best agent to sell your home. Good questions do the hard work for you. Before you jump in and start grilling real estate agents, take a step back.

Put your home buyer shoes on. And start with a mystery shop…

MYSTERY SHOP

Department stores do it, so why shouldn’t you? Use the ‚process of elimination‘ to weed out the poor agents. Why bother interviewing a real estate agent who doesn’t bother to return buyer’s calls? Start with an email. Approximately half of all buyer enquiry arrives via email.

If you send out 10 emails to 10 local real estate agents, I can almost guarantee that you will not receive 10 replies. If only 5 reply, then you have just saved yourself having to interview 5 agents. Include your phone number in your email. Do they call you back? Or do they just email a standard response? An agent who follows up with a call has a much better chance of ‚closing a sale‘ than an agent who sends a standard reply.

QUESTIONS ARE YOUR BEST WEAPON

If you don’t ‚test‘ your real estate agent before you hire them – one thing is for sure – the buyers for your home will do it for you.

What follows are questions that have proven to be a huge help to sellers.

REMEMBER: You are the owner of the property. You are considering employing an agent to sell your property. You are the boss. You have the power BEFORE you sign up. Make sure you keep that power at all times. Control the agents, do not let the agents control you.

Your home’s selling price is determined by your agent’s ability to negotiate

• HOW ARE YOU GOING TO GET THE BEST PRICE FOR MY HOME?

When you ask this question many agents will start throwing around the word negotiation. You want to be certain that they are capable of negotiating a high price for your house, ask them to teach you something about negotiation.

Question their ability to negotiate.

Ask them what they know about negotiation. It’s a big point that most home sellers miss because they focus on what the agent says rather than on what they do.

Here’s one of my favorite questions to ask a real estate agent:

• WHEN/IF YOU BRING ME AN OFFER, HOW CAN I BE CERTAIN THAT IT’S THE ABSOLUTE BEST PRICE THAT THE BUYER CAN PAY?

Many real estate agents will have difficulty answering this question. It’s a question that’s rarely asked of agents. Ask it. The answer will tell you a lot about an agent.

Some more questions you can ask are:

• Are you a good negotiator?

• Can you tell me some of the main points you know about negotiation?

• Can you give me some examples of the results of your negotiating ability?

The Biggest Liar Gets the Job

When hiring a real estate agent, the biggest liar (the agent who quotes you the highest price) often gets the job. It’s an old (and very true) real estate saying.

Unfortunately many home sellers hire liars. This happens because people who hear what they want to hear don’t perceive the information as being a lie.

One of the best questions you can ask is:

• WHAT WILL YOU DO TO GET THE BEST PRICE FOR MY HOME?

Once you are satisfied with the answer then ask:

• WHAT PRICE DO YOU THINK YOU CAN SELL MY PROPERTY FOR?

Most agents will try hard to hedge around this question. They may be vague and say such things as „It depends on the market,“ or they may use the common ploy of answering a question with a question, such as, „How much do you want?“

Sellers should stand firm and press the agent on this point by making such comments as:

You are the agent, you sell lots of properties in this area, surely you know how much you can sell my property for – even if you have to give me a range. After all, you are the expert, aren’t you?

Once the agent has given a [verbal] quote, ask the following:

1. Will you give me that quote in writing?

2. Do you usually sell properties for the price that you quote the sellers?

Regardless of the answers, don’t dwell too long on any point at this stage. Just keep the questions rolling…

It’s not what you pay an agent, but what they cost you, that counts.

• How much commission do you charge?

Most agents will talk about ’standard rates‘ or they will say that the rate is recommended by the Real Estate Institute – this is to soften the shock. Sellers should make comments such as:

Is your fee negotiable?

Have you ever reduced your fee for anyone?

If you should ask me to accept a lower price than the price you have quoted me, will you also accept a lower fee?

NOTE: Be wary of agents who cut their commission to get your business.

These agents are often poor performers who rely on discounts to get you to sign with them.

• What is it about you and your agency that makes you better than other agents?

This is a great question. The agents all want to say that they are „the best“ but they will struggle to define what is meant by „best“. Of course, „best“ to a seller means the highest price with the lowest risk and the lowest cost.

The Issue of Advertising

With almost every agent, advertising will be a big point. Be careful, this is the most common way in which thousands of home-owners lose thousands of dollars without selling their homes!

The Golden Rule when selling a home: Never pay any money for any reason to any agent until your home is sold and you are satisfied.

The Silver Rule is this: Don’t sign anything that requires you to pay any money [in the future] for any reason if your home is NOT sold.

Some agents will say „you don’t have to pay for advertising until your house has sold“ but what they fail to mention (or make clear) is that if your home fails to sell you will still have to pay.

Here are some comments and questions that can be made to an agent which show the absurdity of the advertising policies in most real estate offices.

• Why do you expect me to pay for the advertising to find a buyer? Surely the commission should include advertising?

• Why should I pay twice – once for advertising and once for commission?

• If you put ads in the newspapers [and charge sellers for those ads] and the buyers are going to come via you, what are you doing that sellers can’t do for themselves?

• If you advertise my home and I pay for the ads and you get calls from buyers and those buyers buy a home other than mine, do you give me any money back? If not, why not?

• If I pay you [thousands of] dollars for advertising and you do not sell my property, what happens to the money I paid?

• I notice that your advertising has your name and the name of the agency prominently featured. Surely I don’t have to pay the cost of advertising you and your agency?

• Based on the length of time you have been in business and the number of people who contact your office, don’t you already have a list of buyers on your books?

• I am not going to be paying any money to any agent for any reason until my home is sold. Once my home is sold within the price range that you quoted me, I will be delighted to pay you a GENEROUS commission as a reward.

This is my firm policy as a seller. Do you accept my policy?

Random comments and questions… [or other ways to make the same major points] might include…

• I want an agent who will get me the highest price at the lowest cost with the lowest hassle and, of course, without any risk of loss if there is no sale. Are you comfortable with being able to meet these simple requests of mine?

• How many properties do you sell? (Let them ask you if you mean weekly, monthly or annually, to which you reply that the time frame doesn’t matter. You just want to know that they are capable of getting results).

• What provisions do you take to ensure the security and safety of my home when it is being shown to prospective buyers?

• If I find a buyer – such as a close friend or relative – will you want me to pay you any commission?

• Have you ever had any unhappy clients?

• What were they unhappy about?

• If I employ you and I am not happy with your performance, I want to be able to dismiss you without any penalty to me. Is this okay by you?

• The agent I choose will be given an initial time period of 30 days on the selling agreement between us. If my property is not sold in 30 days and if I’m happy with the performance of the agent, I will be happy to extend the term of the agent’s appointment. Is this okay by you?

SELLERS‘ TERMS & CONDITIONS

Get the agent to agree to your terms BEFORE you agree to the agent’s terms.

Finally, the biggest and most important point of all for home sellers – DO NOT SIGN the document that the real estate agent asks you to sign – at least NOT on the agent’s first visit.

Ask the agent the following questions:

• If I decide to employ your agency to handle the sale of my home, what document will you be asking me to sign?

• Can I have a copy of that document so that I can get some independent advice about it?

• The following is the start of your final words to the agent at the end of the agent’s first visit…

As I am the owner of the home and as I will be employing an agent, I will be preparing a list of my own terms and conditions under which I employ an agent. I will be asking the agent to sign my terms and conditions before I sign any terms and conditions prepared by the agent. Further, if any of my terms conflict with the agent’s terms, then, of course, my terms will take precedence.

• Are you okay with me, as the owner of the home, telling you, the agent, what I require you to do?

Thank the agent for coming and tell the agent that you will be in touch should you require the services of his/her agency. Stand up, shake hands, walk towards the exit or front gate. Wave goodbye.

Smile, you have done well. You are in control.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Lloyd Jenman

If you looking to purchase a product which is offered by different companies, how would you decide who to purchase it from? If you are like most of us, you would simply pick up your smartphone and read online reviews about each company and make your decision on those reviews. Well, the same goes for anybody who is possibly going to use your real estate services.

With the internet and technology making it easy and quick to access information about anybody, your potential clients will search for reviews on you. The reviews and testimonials they find online could be the difference between getting new clients, or losing them to someone else.

Get a Testimonial From Your Client After Every Closing

It is important that you obtain a testimonial after every closing if your clients are happy with your real estate services. Typically, the time of closing is a happy time for the client, and therefore, a perfect time to ask for a testimonial. It is always harder to obtain that testimonial at a later time down the road.

Tell your clients that it could be short and just be a few sentences. Many don’t like writing long reviews and may not give you one because of that. A short testimonial that’s to the point is just as effective.

Take a Picture With Your Client In Front of the Property

Along with asking for a testimonial at the time of closing, you should definitely take a picture with your clients. It is always preferred to take a picture at the property. An effective picture is to take a picture in front of the property while your clients hold the SOLD sign or the keys. The picture can be taken when you meet your client at the property to deliver the keys.

Displaying Your Testimonials on Your Real Estate Website

The most important place to display your reviews and testimonials is on your very own real estate agent website. Your real estate agent website is typically ranked higher in search engine results than your Facebook page and profile pages on Zillow, Trulia, realtor.com, and other large real estate marketplace websites. Therefore, you’ll definitely want to display your testimonials on your agent website.

You should have testimonials clearly visible on your homepage along with a separate page that displays all of your testimonials. Your real estate agent website platform should contain an interface that allows you to enter reviews and testimonials along with pictures of your clients.

Post to Facebook

If someone is looking online for reviews about you, they’ll most likely land on your Facebook page. Therefore, it is very important to create a „Just Sold“ post after every closing. The post should contain the testimonial by your client AND the picture you took with them in front of the property. Be consistent and do this for every time you close on a property.

Ask Clients to Submit a Review on Zillow, Trulia, and realtor.com

Anybody looking for online reviews about you will also most likely end up on Zillow, Trulia, and realtor.com. All of these sites accept reviews and it is important that you build up the number of reviews and your rating on these large marketplace real estate websites.

The review is submitted by your clients from your profile page on each of these sites. A client can submit a review by clicking on the „Submit Review“ button that appears on your profile page. To make it easier for your clients, send an email with links to your profile page for Zillow, Trulia, and realtor.com.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Michael Yee

In some of the hottest real estate markets in the country some homes stay on the market just a few short hours and ultimately sell at or above their asking price due to a bidding war amongst multiple purchasers, making it imperative that serious buyers have the assistance of an experienced buyer’s real estate agent and understand the home buying process as well.

It’s quite natural for many buyers to spend several weeks or even months looking for the right home. However, in some of the flourishing property markets in the country things can sometimes move rather quickly in the final stages of the buying process. Ensuring you understand the entire process from beginning to end and knowing the most important things to do throughout the process can help make the home buying process much more enjoyable and successful.

Below, we have listed the necessary steps to complete the entire process of purchasing a new home successfully. Not only will you find all the steps needed for a great buying experience, you will also find valuable tips about the most important tasks throughout the buying process and many things you will want to remember to reference later on. Following our outline for the steps involved in the home-buying process will help you find a great buyer’s real estate agent who can also provide financial assistance to partner with and will allow you to handle all the requirements of purchasing a home effectively.

Step 1: Choose an Experienced Buyer’s Real Estate Agent

The absolute number one most important step in purchasing a home is the very first step, choosing the right buyer’s real estate agent to partner with. An experienced and savvy buyer’s agent can save you thousands of dollars throughout the property purchase process and will offer you valuable insights on a wide range of topics throughout your search for a home.

A knowledgeable buyer’s agent can help guide you on how much you should pay for a particular home, suggest the best mortgage lenders to work with and offer you the valuable advice you can only get from a real estate professional with extensive experience in the local market. Additionally, there are a few buyers agents that offer special incentives such as buyer cash back programs and down payment assistance you never have to repay!

If you only follow one of the steps we have included in this list, it should be this one. Partnering with a great real estate agent is many times the single most important factor in searching for a new home and successfully completing a purchase.

Step 2: Discuss and Review Needs with Your Buyer’s Agent

Once you select an agent to work with it is important to have a detailed initial meeting to discuss all the details of your situation with your agent. Keep in mind, a buyer’s agent should represent you and you alone. You do not want to work with a transaction agent who is working for both the buyer and the seller. A transaction agent has no fiduciary responsibility to either party and as such can disclose everything to the seller and vice versa. A buyer’s agent’s purpose is to negotiate for you alone always having your best interest in mind and to do everything they can to put you in the best possible negotiating position. They will review with your all disclosures and laws so you have an understanding of the home buying process legal requirements. Therefore, it’s important to openly discuss all the important aspects of your new home search with your agent including any financial concerns, family issues or any items that you absolutely cannot do without.

The better they understand your overall personal circumstances, the more effective they can be at helping you achieve all your objectives and requirements. Obviously, the topics discussed during your initial meeting will vary quite a bit from person to person, depending on your main concerns. However, the key areas below are typically the minimum amount of topics that should be covered during the meeting.

Lifestyle Needs

Your lifestyle will determine what type of home might be most suitable for you. Therefore, it is important to let your buyer’s agent know about your work, your family, and your overall lifestyle. Discuss the things in a home that will be the most important to you as well as the least important.

Financial Situation and Challenges

If you have any special requirements, limitations or credit issues now is the time to discuss them with your agent. If you are upfront and honest about it, then they can help you find viable solutions to any existing issues. If you choose to hold back information then they may not find out until it is too late for them to offer you help and or save the deal. Remember, your buyer’s agent is on your side and there to help you.

Establish Initial Price Range/Budget

You should always establish a budget in terms of monthly payment and total price before you begin shopping for a new home.

Step 3: Pre-Approval and Completing the Mortgage Approval Process

Once you complete your initial meeting with your buyer’s agent, it’s time to get pre-qualified for a mortgage. If you have chosen your real estate agent partner wisely, then they will most likely have some recommendations for which lenders might offer you the best options. Obtaining a mortgage pre-approval or pre-qualification is a crucial step in the home buying process.

Having a lender review your financial situation and give you a formal pre-approval letter will let sellers know you are not only willing to purchase their home, you are also able to make a purchase. In fact, some sellers will not even consider an offer unless you have gone through the lender pre-qualification process. It’s important to take care of this step very early on in the process and to keep your buyer’s agent informed of any communication or extra requirements of the lender.

There are many different types of mortgage programs available and all of them have advantages and drawbacks. The three most common types of mortgage loans are usually classified as FHA, VA or as a conventional mortgage. However, there are some specialty programs available as well, often connected with the classification of your employment or geographically specific related programs.

FHA Mortgage

An FHA mortgage is a federally insured mortgage sponsored by the Federal Housing Administration. If you qualify for this type of mortgage, then the Federal Government insures a portion of the mortgage in the event you are not able to fulfill your commitment and repay the loan. This reduces the risk for lenders who are facilitating the loan. An FHA insured mortgage usually requires around a 3% down payment plus closing costs and the maximum loan amount varies from county to county.

VA Mortgage

A Veterans Administration mortgage is a special program for former members of the U.S. military. Similar to FHA loans there are specific requirements that an applicant must meet in order to qualify for this type of loan. However, in certain circumstances this type of mortgage can offer significant advantages as the loan to value is normally 100%; meaning no down payment is required, yet there will still be some closing cost.

Conventional Mortgage

A conventional loan is a mortgage offered through a privately owned or publicly held lender that is not insured or guaranteed by the Federal Government. There are certain cases where this type of mortgage might be preferable to a VA or FHA loan, so do not immediately assume a federally backed mortgage is always the best option. Although conventional loans usually require a much greater down payment.

Other Specialty Mortgage Programs

PATH is a discounted mortgage program available in some states that is offered to some public employees. If you work for one of the following entities, then it might be worth checking into the details of PATH to see if you qualify and if it will offer you any savings.

• Public Employees-Department of Health and Other Local Authorities

• State or Local Public School District Employee

• State University Employee

• Community College Employee

• Employee of the Public Court System

• Members of PERA (Public Employee Retirement Association)

Buyer’s Agent Programs-Cash Back and Down Payment Assistance

A select few buyer’s real estate agents offer special programs to their clients who purchase homes through home buyer’s cash back rebate program or down payment assistance up to $19,000. that never has to be repaid. Not all agents offer these programs and the additional financial help can easily be thousands of dollars which is more than helpful when purchasing a home. The two programs usually cannot be combined as per lender’s regulations.

Get Recommendations from Your Real Estate Agent Partner

Based on the information you share with your agent they can offer you valuable advice for getting help with a mortgage and getting started in your search for a new home. It is always wise to listen carefully to the advice of your real estate agent as the chances are very good they have seen others in the exact same situation as you and are associated with lenders, home inspectors and title companies.

Step 4: Searching for a New Home

An obvious step in the home buying process is the actual home shopping stage. Your agent can analyze comparable property values and help compile a list of properties that fit the parameters discussed ahead of time and schedule a time or multiple times to begin looking at the homes with you. It is important to be open minded as you may come across options you have not spent much time considering.

At first, you might have a tendency to quickly dismiss certain options, only realizing much later, that the home was a perfect fit. You will naturally scale down your options as you begin to get a feel for the area and the homes and pricing available. However, do your best to begin with an open mind and listen to the advice and suggestions of your agent; as he/she is the experienced expert in the area you desire.

Step 5: Choose a Property and Make an Offer

Once you have taken the time to fully review all of your property options and you have discussed things with your agent, it is time to choose a home and make an offer. Most formal offers require a small earnest money deposit showing your good intention to follow through if your offer is accepted, a copy of the pre-approval letter from your lender and an offer in writing, which your agent will prepare and deliver for you. These days things move much faster due to the digital platforms all offers, counters and other documents are handled online on secure websites for everyone’s convenience.

Step 6: Negotiate and Finalize Purchase Agreement

Once you make an offer a number of things can happen. The seller can accept the offer, reject the offer outright or make a counteroffer. Your buyer’s agent will help you properly negotiate the terms in question, as they can include a wide variety of items that range from the selling price of the home to how much of the closing costs the seller may be willing to pay and even if certain repairs will be paid for by the seller.

Once your offer is accepted or final terms are negotiated, then it is time to get prepared to finish the final few steps of the home buying process and close on your new home.

Step 7: Consult with Your Lender and Buyer’s Agent on Mortgage Approval

Once an official sales contract is in place, it is best to consult with your lender and your buyer’s agent to find out what is needed to get the mortgage approval finished and ready to close. It is important to note, the pre-approval process at the beginning is only the first half of completing a mortgage approval. Most of the time, the lender will require updated documents, additional information, employment verification and a variety of details to get the loan ready for an actual closing date. It is very important not to take on or even apply for credit elsewhere as this can damage the successful outcome to a final mortgage approval.

Do not delay in supplying the lender with any additional documents or other requirements, as time is of the essence, each item in your contract will usually have a required completion date and often times final underwriting and approval to close can take a bit longer than was originally projected. Every last detail and piece of paperwork must be submitted and the lender’s underwriters will not grant a „cleared to close“ until everything has been submitted and reviewed.

Step 8: Order Home Inspection and Review

Once you have talked with your lender and your buyer’s agent about the status of the mortgage approval then it is time to order a home inspection. A home inspection should always be completed and will sometimes prompt a few last minute details to be worked out between the buyer and seller. A home inspection is different from an appraisal. The home inspection is usually ordered and paid for by the buyer to help the buyer know the condition of the home they are purchasing and „what if“ any repairs need to be done; whereas the appraisal is now ordered by the lending institution to determine whether the real value of the home is consistent with the loan amount they are lending to purchase it.

Step 9: Buyer Reviews and Approves Settlement Statement

Based on changes in current real estate regulation, a buyer now has to review and approve the Settlement Statement for the closing three days prior to the actual closing date. This is for the buyer’s protection so there are no surprises at the closing table. Your buyer’s agent will work with to review your settlement statement and explain any items that you may not understand or be totally familiar with.

Step 10: Final Walkthrough and Closing

Once you review and approve the Settlement Statement, it is time for the final walkthrough and to complete the closing. Whether this is your first home or your tenth home, finally getting the closing done is always a great feeling and a very good reason for celebrating!

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Carol Vizzi

I have been hired over and over to faux paint the walls in million dollar homes to look like the ones they see in designer magazines. The number one requested faux finish is the „Old World“ look or Parchment.

If I say I have faux painted nearly 30 walls by now with the same color faux finish, I would not be exaggerating. So why not use a little faux painting yourself to help sell your home. Let’s face it, if your house looks like one of those expensive model homes in lucrative developments, you will sell it in no time. However, if your potential buyers see your home like some mediocre apartment with plain white or beige walls, they will most likely keep looking or offer you less than what your house is worth. Remember that first impressions can literally make your sale sink or swim.

You can literally transform your home to look like a million dollars with a little decorative adjustments. Faux painting is the fastest growing form of decorative painting. Just take a peek at some high end decorative magazines and there are faux painting articles and tips all over the place. There are many types of faux finishes these days.

Get ideas by viewing pictures of various faux painting techniques in magazines or websites. Some are more difficult to achieve than others, especially textured finishes. However, even applying a simple color wash on the walls can make a huge difference. Faux Painting bricks can really add dimension and interest to your home, too. You can even paint a faux marblelook on your counter tops to look like real marble and your cabinets to look like real wood. Save tens of thousands of dollars with this beautiful form of art instead of installing expensive slabs of marble and putting in all new cabinets.

You can learn how to faux finish, too.

Recently I received some pictures from first time DIYers in faux painting. What a difference! They did a great job and none of them had ever faux painted before. Why not give it a try? You never know, you might just be knocking on the door to a new career in faux finishing. That’s how I got started. I began by practicing on my own walls in my home and in my family’s, too. Then I began to get requests to do friend’s homes and word got around. Most of my clients come from recommendations from others. So begin now to add value to your home by doing the same thing. Do a Google search for „faux painting kit “ or faux painting tools to find a variety of sites that include a DVD that teaches various techniques along with their tools. It’s the best for your money.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Sandra Silva

With the country’s declining real estate market, a home seller can easily sell a house if they lower the price. But for others who can’t afford to lower their asking price, it is best to find other ways to make their home more attractive.

Real estate agents are familiar with the trends in the industry. They are also very knowledgeable about selling homes and choosing the right homes. For this reason, we have come up with a list of house selling tips from successful real estate agents.

Make The House Stand Out From The Competition

It is very important for the property to attract potential buyers. Home sellers should consider custom designs or adding a few design touches, such as improving the landscape, or updating the roof and windows. These simple touches can have significant impact in improving the home’s aesthetics. It is important to avoid over-improving the house. For instance, renovating the bathroom and kitchen may not always pay.

Clean The Clutter

Before listing the property in the market, it is crucial to first clean the clutter from the home. Clutter will turn off potential buyers because they cannot picture themselves living in the house. As a tip, consider removing a few unnecessary furniture pieces to make the space look bigger. You should also keep family pictures and other personal items into storage so that potential buyers can imagine themselves staying in the house.

Staging the house is very important. You may want to hire a professional for the job. This may cost additional expense but it will be worth it. Real estate agents believe that a professional stager can make the home more attractive and salable.

The Price Is Right

No matter how you stage your house or how much space you renovated, it is very important to price the property appropriately. An agent can help you determine the right price for your property. You can also hire a property appraiser for the job. It doesn’t matter whether you are offering the lowest price in the neighborhood, especially if your home is very appealing and if you have made significant improvements to your home. It is important, however, that the listing price will not be so far-fetched with the other comparable homes in the market.

Selling a house in a slow real estate market will require patience and perseverance. Make sure that the house is in good condition and hire a credible agent to help you sell the house faster. Following these tips will help increase your chances of getting a good deal for your property.

Immobilienmakler Heidelberg

Makler Heidelberg

Source by Sara Schweiger