Every few days, I write an article for this real estate blog that I hope will be beneficial for all of you who read it. So far, our audience includes a variety of readers - buyers, sellers, investors, homeowners, those who are thinking about doing something with real estate and others who are just curious about the market.
I hope you find the information on this blog helpful and if you'd like to engage in the conversation, please do so by clicking on the Comments link below each article/post.
This post is simply to remind you that we have a main website for our real estate business. This site, too, has lots of great real estate information including the ability to search for homes all over the Sacramento, El Dorado & Placer areas. And, of course, this site includes some great tips, tricks and techniques for buying and selling real estate.
Please visit us at www.RingTheRinkers.com.
When someone looks for assistance in buying or selling property, it's important to remember that the terms "real estate agent" and "REALTOR" are NOT synonymous. Realtors can provide an extra level of service and expertise.
To be a Realtor, a person must be a member of the National Association of Realtors (NAR). NAR is a non-profit trade organization that promotes real estate information, education and professional standards. The National Association of Realtors also has earned a strong reputation for actively championing private property rights and working to make home ownership affordable and accessible. NAR members adhere to a strict code of ethics founded on the principle of providing fair and honest service to all consumers. REALTORS are held to a higher standard than are non-NAR real estate agents.
In addition, REALTOR business practices are monitored at local board levels. Arbitration and disciplinary systems are in place to address complaints from the public or board members. This local oversight keeps REALTORS directly accountable to the individual consumers they serve and therefore the consumer is more likely to find better service and accountability by using a REALTOR.
So, the next time you're speaking with an agent, make sure he/she is a REALTOR and not just a real estate agent.
Also read:
When considering hiring an agent to sell your home, be sure and ask the following questions. Of course, there are many more questions savvy sellers should ask, but these five are critically-important.
As I said above, there are many more questions to ask to ensure you get the best, most professional agent (and, of course, the one who will net you the money for your home). If you'd like the report entitled "Don't Even Think of Listing Your Home Until You've Asked These Questions of Your Agent" then give us a call. We'll be happy to email it or mail it to you right away.
Also see:
The most important step in selling real estate is choosing the best real estate agent for the job. Choosing the wrong agent can end up costing the seller big bucks in lost profits, not to mention weeks or months of frustration and, in the end, maybe the property doesn't even sell.
As we've discussed in previous articles, some of the WORST REASONS to choose an agent are:
(If you haven't yet reviewed How NOT to Choose a Real Estate Agent, part 1 and part 2, I encourage you to do so.)
OK, so if we know the criteria NOT to use when hiring a real estate agent, just what SHOULD a seller consider to ensure they hire the best agent to sell their property. Well, most savvy sellers I've talked with over the years choose their real estate agents based on the following criteria:
One more thing I'd add to this list is "does the agent utilize current technology" in his/her business. Obviously, technology plays a major role in real estate. The internet is where most buyers and sellers go to research real estate and it's vitally important that the agent is comfortable and proficient with using technology. Sellers must ensure the agent they choose is heavily technology-focused when marketing the seller's property.
Oh, and one more... the agent should be full-time in real estate. Sellers want someone who is dedicated to working real estate and not someone who works part-time in real estate and part- or full-time in another job.
Using the criteria discussed in this article, sellers can ensure they get the best agent for their sale. The bottom line should be a faster sale with a higher net profit and minimal hassle.
Other articles to review:
In Part 1 of this series, we discussed two of the mistakes some sellers make when choosing an agent and how to ensure they choose the best agent to sell their home.
Even though many sellers do use the following criteria when looking at an agent, they are two of the worst reasons to choose an agent:
The agent who is your friend: Oh... this one costs sellers sooooo much money. I've listed many properties over the years after a "friend" had it listed and it didn't sell. Unfortunately, sellers will often look to a friend who is a Realtor and think the friend will give them a break on the commission and is the best person to sell their property. While some of these situations work out fine, I've been told by many sellers that it's just not worth risking the relationship. Many relationships have been ruined or seriously damaged when trying to mix friendship and business. When "friends" do business together, especially in a Realtor-client relationship, bad decisions are often made that end up costing the seller time and money... and often the home doesn't sell... or it sells for much less than it should have sold for if better decisions were made from the start (like NOT hiring the friend). I strongly recommend that sellers seriously consider the challenges that can develop in this area. Preserve the friendship and hire someone else.
The agent is a "discount" agent (similar to the reason above): This can be the worst reason of all. Think about it... if you were being sued for several hundred thousand dollars, let's say, would you hire the attorney who is the cheapest? Would you want a "bargain" or "discount" attorney? Of course, not. If you needed heart surgery, would you want the "discount" surgeon? Of course, not! You wouldn't trust heart surgery to someone who discounts their services to get business. So, if you wouldn't hire a discount attorney or a discount surgeon, why in the world would you hire a discount agent?
Keep an eye out for our article on How Best to Choose Your Agent... coming soon.
Previous posts you should check out:
When hiring a Realtor, there are many things to consider to ensure you get the best person for the job. This post will discuss some of the mistakes sellers make when choosing an agent and cover those areas that sellers should NOT use as criteria when deciding on the best agent.
Even though many sellers do use the following criteria when looking at an agent, they are the worst sole reasons to choose your agent:
The agent who tells you the highest listing price for your home: Often, agents who really want to get your listing will tell you a high estimated value for your home just so you'll hire them. The agent takes the listing at that high price, knowing it won't sell. Then, a few weeks later, they tell you that a price reduction is required... maybe several price reductions end up being needed. This mistake can end up costing the seller big bucks. The longer a home sits on the market at too high a price, the less the seller will probably get for it, since buyers tend to pay less for a home that's been on the market a long time. SOLUTION: the seller should choose the agent who can best justify the price they are recommending, not the agent who just offers to list at the highest price. Sellers should be very cautious of the "highest listing price" agent - especially in the current real estate market. Sellers who price their homes too high in this market, pay dearly in lost profits. Of course, eventual price reductions may indeed be necessary, but based on a market-appropriate starting price.
The agent who charges the lowest commission to sell your home: This can be a touchy subject with sellers. Of course, we all want to get the "best deal" but, in real estate, paying a lower commission can often lead to making less profit. Why? It's simple, the lower-commission agents often charge less for a reason... and that reason may end up costing the seller thousands, or tens of thousands, in lost profits. Think of it this way: Let's say you're shopping for a new car that typically sells for around $35,000. You find one that's priced at only $20,000 - what a deal, right? Would you automatically buy it just because it's so cheap? Or, would you wonder WHY it's so cheap? Why the drastic discount from the norm? Wouldn't you be suspicious of the low price tag and wonder if something's wrong with it? I know I would. And, most people I know think the same way. The best agents usually don't discount their services. Why? Because they're worth it... in service, support, experience, knowledge and results. They often end up increasing the net profits for their sellers in spite of not discounting their fees. SOLUTION: Don't choose an agent based on a cheap commission. It may cost a seller dearly in the end. Do look, however, for an agent with a flexible-rate commission structure. If the agent doesn't offer a flexible commission structure, based on HOW the property sells, then look for another agent.
Of course, the bottom line here is to choose an agent based on his/her track record, marketing plan and their ability to get your property sold in today's changing marketplace. Also, you'll need to feel good about the agent. That "gut feeling" will certainly help you in choosing the best agent for you and your property.
Also, see Part 2 of this series.
If you're considering purchasing a home, or any other real estate, it's important you first get an idea of how much you can afford. When I work with buyers, I strongly encourage them to speak with a lender to see how much of a home they can afford - purchase price and monthly payment.
If you're curious how much you might qualify for, you can either call me at (916) 241-8000 or (530) 677-1332 and I can put you in touch with a reputable, trustworthy lender, or you can go online to start the process.
Here's a great site to check out: www.CanIQualifyNow.com.
Either way, there's absolutely no obligation and no cost to seeing how much you may qualify for in today's market.
As I have mentioned in previous articles on this blog, now is an absolutely phenomenal time to buy real estate. Prices are down, inventories are at record levels, and interest rates are at near-historic lows.
In today's competitive real estate marketplace, or in any market for that matter, sellers must ensure they choose a Realtor who has a strong marketing plan for exposing the seller's property to the market. In the past, with limited marketing avenues, many Realtors got lazy and did the absolute minimum to expose their seller's homes. In the hot seller market of 2000-2005, Realtors really didn't have to do much to get homes sold. Often, an MLS listing was all that was necessary to find a buyer willing to pay top dollar for a property.
Today, in a buyers market, an MLS listing is usually not enough. Sellers need much more broad exposure to the marketplace to find the right buyers. And, with the internet intersecting into the real estate market, it's important that Realtors use the most current internet technologies to maximize property exposure when selling homes and other properties.
In this post, I will provide a few of the necessary marketing tools that sellers must demand of their agents to ensure their properties get the most exposure possible in today's changing market.
In my mind, these are not optional avenues of marketing, but necessities:
Of course, there are more marketing techniques and tools that I'll cover in Part 2 of this topic.
The bottom line here, of course, is for sellers to ensure prospective agents utilize MULTIPLE MARKETING TOOLS when listing and selling their homes. Ensure your agent is technologically-savvy and experienced in multiple marketing disciplines.
In our business, our sellers benefit from all the above marketing tools and much more, and ultimately we achieve the goal of getting our sellers top dollar and a timely sale.
Click here for What Kind of Marketing Should Sellers Expect from Their Agents? Part 2
Many buyers, especially first-time buyers are concerned that, when they buy a home, they won't know everything about the home - previous problems, safety issues, previous repairs performed, etc. This is a valid concern, but one that is easily handled when purchasing a home.
When a buyer enters into an agreement purchase a home in California, the sellers are required to disclose everything they know about the home that could affect the value or desirability of the property. Any problems or issues that they know about MUST BE DISCLOSED TO THE BUYER in writing.
During the transaction, the seller will provide to the buyer a number of disclosures that will include information on previous and current problems & issues and what was done, if anything, to address them.
Buyers have time to review the disclosures, conduct inspections and decide whether or not the issues that exist, if any, are significant enough to be of concern. If so, the buyers have a certain period of time to back out of the transaction without penalty.
Your REALTOR will guide you through and assist in this process. Buyers have many "built-in" protections to ensure they buy a home that best suits their needs.
