Saturday, August 26, 2006

Will The Real Estate Agent get You The Best Deal?

Unless you are in a really strong seller's market, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers.

On the other side of the fence is the listing agent who should hold a track record for negotiating sales prices that are very close to list prices.

Friday, August 25, 2006

Keeping A Dual Agent Honest

If you are considering buying a home find out who the agent is representing. Don't automatically assume that the real estate agent is working solely for you the buyer.

Some agents (dual agents), perform a dual role and represent both the buyer and seller. As buyer it is important to understand that the agent might have a financial responsibility to home seller. In most USA States agents are required to inform their clients as to who they represent.

If you are going to buy a property using a dual agent then discuss with the agent how he or she plans to be fair to both parties.

One way of keeping the dual agent honest is to obtain comparable prices of homes in that neighborhood from another real estate firm. When buying a home it is important to be reassured that the property is good value for money and has not been overpriced. Most real estate brokers will provide this information free of charge.

Another way of checking on the dual agents credencials is to ask to talk with some of the agent's past clients. Talk with buyers and sellers who were involved in a dual agency transaction. The important thing is to be comfortable with how each party was treated. Did the dual agent act fairly throughout the entire sales process? Did the dual agent fully explain his or her role early on in the real estate process? Would the clients recommend the dual agent?

Thursday, August 24, 2006

Will The Property Attract Genuine Interest In The First 30 Days On The Market?

Fact: Over priced real estate listings turn many buyers off.

When listing a property for sale, the first 30 days are the most critical. The first 30 days is the time when most buyers (and real estate agents) will see the real estate listings.

The first month on the market is the key. BUT... when a property is over priced, or stays on the market too long, interest wanes. Potential buyers (and real estate agents) will be suspicious, ignore the listing, or they will simply move on to another property that is more realistically priced. So, that's why the initial 30 day period is critical when listing a property for sale.

Some sellers, however, believe that if someone is really interested they will counter-offer. Yes, that may or may not happen. But, there is the risk that well-qualified buyers may just walk away, never to return.

Wednesday, August 23, 2006

Why A Property May Vary In Price

A number of factors can affect the selling price of a home and sometimes the reason why one home sells for a higher than another is not obvious at first glance.

For example; two properties may look the same from the outside but be immeasurably different inside. One may still have 70's, 80's or 90's decor whilst the home next door may have undergone major updating and interior improvements.

Tuesday, August 22, 2006

Another 5 Buying A Home Tips

Buying a home is a major investment, so take care to thoroughly research the purchase before signing any legally binding contract to purchase the property. Further to our series of home help tips, here are another five home buying tips to consider:

1. Contact local real estate agents or brokers to research recent sale values in the area. Find out the trends such as what type of people are buying in the area, how long the average property stays on the market before being sold etc.

2. Visit the area to check out the proximity of schools, transport, shopping, employment etc. These can have an effect on your lifestyle, both now and in the future (ie. children).

3. When inspecting a home don't be put off by bad weather. It's a good time to check the potential property for leaks and poor drainage.

4. Carry out proper due diligence on the property you are buying. Arrange a professional home inspection and obtain building and pest reports on the property.

5. Before you buy, get in touch with your potential neighbors, to ascertain suitability and see if there are underlying disputes or problems.

Monday, August 21, 2006

Home Buying Tip - The Sales Contract

When buying or selling a property always seek professional advice before signing any contract. You need to be sure that you can finance the purchase, that the property is a good buy, and that the clauses in the contract meet your individual needs.

Sunday, August 20, 2006

Organize And Prioritize Your Time When Selling Your Home

Regardless of whether you are selling through a realty agent or selling your own home yourself (FSBO), it pays to be organized.

You will need to give up some of your spare time in order to get your house ready to sell and to show prospective buyers through it.

That’s why it’s important to gain control of your time and use it wisely. It is easy for days to “just slip away” without having made much progress in selling your house. Being busy and being productive are two different things.

One way to boost efficiency is to prioritize tasks. Draw four squares on a piece of paper. Mark the squares as follows:

  • IMPORTANT AND URGENT
  • IMPORTANT BUT NOT URGENT
  • UNIMPORTANT BUT URGENT
  • UNIMPORTANT AND NOT URGENT

Now put each of your daily tasks into one of the four boxes.

The point I’m making is that it is important to prioritize your tasks and know the value of everything you do. Why I say this is because most of us spend too much of our time working in the wrong squares.

We do tasks that are IMPORTANT AND URGENT because we have to. That’s good!!!
We do tasks that are UNIMPORTANT BUT URGENT, because they demand our attention. Things like personal phone calls etc.

We do things that are UNIMPORTANT AND NOT URGENT because we want to... they are a good way to pass the day and can be fun. Again phone calls can be in this category, so can reading irrelevant mail, clowning around, trivia, gossip, escape activities like TV etc.

Most of us don’t spend enough time doing things that are

IMPORTANT BUT NOT URGENT.

Eg. Prevention, forward planning, relationship building, preparation, goal setting, devising marketing strategies, cash flow budgeting, setting values and standards, introducing efficient systems etc.

We often put IMPORTANT tasks off because they are NOT URGENT or get overshadowed by the day-to-day activities in our lives.

Selling your house is IMPORTANT and URGENT. You are either going to do it or you are not! So spending more time on tasks that are IMPORTANT and either URGENT or NOT URGENT will prove to be productive.