Buyers Tip #26 Friend of Foe?

It’s not uncommon for my buyer to show up at a showing and  bring along a friend or two to look at a house.  I’m all for this idea. An extra set of eyes might pick up on something that has been overlooked by everybody else. They can also provide a different outlook on the situation.  Sometimes these friends can go a little overboard, however, becoming self proclaimed “experts” and think that because the have bought or sold before they know everything.  While their opinion is great, buyers need to make sure they don’t give too much weight to those opinions. You are buying the house for yourself, not somebody else.

Part Time or Full Time

Picking the right Realtor can be a “make it” or “break it” deal when it comes to getting you home sold.  Choosing a Realtor that only works part-time could be missing opportunities that might result in getting your home sold.  A full time REALTOR will be readily available to answer any questions that you or a potential buyer may have, or to schedule a showing.  When picking a Realtor, it’s a good idea to interview a couple of Realtors before deciding on one.

Questions to ask a REALTOR

Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.

· How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.

· What designations do you hold? Designations such as GRI and CRS®, which require that agents take additional, specialized real estate training, are held only by about one-quarter of real estate practitioners.

· How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.

· How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.

· How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.

· What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.

· Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.

· Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.

· What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.

· How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?

· Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.

Shopping the paper for a home!

Every week we have people come into the office looking for the local real estate guides that are published by our newspapers. These are great to just browse and look and see what is currently available in our market.Shopping these guides when you are seriously looking for a home can be a huge mistake. The content of these ads is required to be submitted to the paper at least 3 weeks before they are published. In the mean time your dream home could come up on the MLS and you wouldn’t know it until a month later and by that time it has already sold. Give us a call and let us know what you are looking for and we will set you up with an automatic e-mail with properties that meet your criteria.

Should you stay or go?

Sellers often ask if they should be present when the home is being shown.  Homebuyers will feel like intruders if you are home when they visit and they might not be as receptive toward viewing your home and will not spend as much time looking. If you absolutely cannot leave, try to remain out of their way and do not move from room to room following them or attempt to show the house yourself. Do not volunteer any information, but answer any questions the agent may ask.

Buying for resale

It’s not usually,” if ” you will sell your home, it’s just a matter of when.  The average family moves every 6 years or less.  While looking for your new home, keep in mind, what kind of resale value it will have.  Like the old adage says, “location, location & location” is just one of many factors to consider.  Also consider the features of the home. Does it have a view, or water frontage or other desirable features?  The size and condition of your new home should also be considered. You don’t want to buy the nicest home in the area because the surrounding homes may bring your value down.  However, if you buy a smaller home in the same area,  the larger & nicer homes will help increase your value.

What Stays vs. What Goes?

When selling your home there always seems to be some confusion about what stays and what goes in regards to fixtures and items in the house.  Does the refrigerator & washer/dryer stay, what about the fancy chandelier and the new curtains & blinds we bought?  As a general rule, if it requires a screwdriver, hammer or shovel to remove it, it’s usually considered real property and should stay with the home.  To avoid any possible complications & misunderstandings, talk to your Realtor® and get them to compile a list of the items that will or will not be staying with the house. 

Buying During the winter.

Buying a home during the winter months isn’t without its challenges, but also has its advantages.  When buying during the winter there will be less competition from other buyers, since this isn’t the peak buying season, and you will be less likely to get into a bidding war with other buyers.  This also means that you should be able to move in sooner as appraisers and other vendors are not as busy and can get your deal done quicker.  Let us help you get into your new home before the New Year! 

Daylight Savings ends.

It’s time to fall backwards again.  At least time it’s to set our clocks back for daylight saving which ends on November 2^nd this year.  While you are setting your clocks back, it’s also a good time to catch up on other maintenance items that are often overlooked.  Changing the batteries in your smoke & carbon monoxide detectors when you change your clocks is a good way to make sure the batteries get replaced twice each year.  It’s also a good idea to change your passwords on your computer and online accounts.  Experts recommend that you have different passwords for different accounts and to use letters & numbers in your password.

Common Buyers Mistakes

Before closing on your new home, avoid these pitfalls that could derail your home purchase.  Buying big ticket items such as a new car or boat could knock your income to debt ratio out of acceptable range and jeopardize your loan.  Changing jobs before everything is completed can also be a big mistake because lenders take into account how long you have been at your job.  Moving money around between banks or accounts can also cause problems with your loan since lenders will be looking to verify your funds and bank accounts and will require a documented paper trail.

Let the light in!

Open up your curtains and blinds to let in as much natural light as possible when having a showing.  Also replace any broken or burnt out light bulbs you have been neglecting.  Consider upgrading to newer energy efficient compact florescent bulbs and replace with the highest wattage bulb that is safe and suitable for the application.  The brighter a room is lit, the larger it appears. Consider adding lamps or lighting to rooms that are poorly lit. A small investment in lighting can have large returns from buyers.