Real Estate

HAWAIIS REALTORS SHOWCASE
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I need to sell a home in Olrando and I am not sure how to find a good real estate person. I just don’t want to call anyone. They say a good realtor is key especially in the market we are in now.

I already lost 7 months with my curreny realtor (who is also a friend) and I feel she has not done enough to sell my house.

any suggestions?

There’s a rule in the Real Estate world called the 80/20 rule. It says that the top 20% of all Real Estate Agents sell 80% of the homes. So, it goes without saying that since you will likely pay the same amount to work with a top Agent or a mediocre Agent, you might as well make sure you are working with the best Agent possible.

One way to accomplish this task is to ask the right questions. By asking the following 8 Questions, you can weed out the mediocre agents in a hurry.

Question #1 – Do you have a list of previous clients I could contact?

Always ask for references. As a matter of fact, ask for 5 or 6 references. Then, randomly pick one or two names from the list and call them. These folks should give you an idea of how proficient the Real Estate Agent is at selling homes.

Question #2 – How many homes do you sell each year?

This is probably the most important question you can ask. The average agent sells less than 10 homes per year. That’s less than one home per month! Why is this a problem? Simple – the amount of homes an Agent sells is a clear indication of their sales skills and talent.

Some Agents sell 50 homes per year and some sell 10. Imagine if you were shopping for a stock broker to manage your investments. Would you hire the stock broker who averages a 50% return on investments or a 10% return?

Question #3 – What can you offer to me that no other Agent can?

Every agent you speak to will claim to have the best service. Good service is a given. ANY agent should offer that. You should be looking for something unique. Some agents have special marketing plans for their listings, some offer guarantees on how quickly they can sell your home, etc. Try to weed out what makes this agent unique from any other agent you have spoken to.

Question #4 – How long will it take to sell my home?

Most agents are not psychics, so this will be impossible for them to answer. But, they can tell you how fast their previous listings have sold. Every home seller wants essentially the same thing. You want your home to sell fast and for top dollar. Unfortunately, you will have a hard time discerning whether the agent is being truthful or not in some cases. This is why we advise contacting your local Board of Realtors® . They maintain a listing of each agent’s statistics.

Question #5 – How many buyers are you working with right now?

The sad truth in Real Estate is that the majority of agents are scrambling to find new listings to sell, as opposed to finding buyers to purchase the listings they already have in their pipeline. This is because a listing is like money in the bank. When a Real Estate Agent lists your home, they know it will eventually sell, no matter how bad the market is. This is why it is critical that you know how many buyers the Agent is currently working with. The more buyers they are working with, the better.

Question #6 – How do you plan to market my home?

Specifically, you want to find out how the agent is going to attract buyers. In addition to the sign they place in your yard, what else do they do? Do they advertise in the homes magazines? The newspaper? Do they advertise on TV, radio or any other medium?

Make sure the agent gives you a specific marketing plan.

Question #7 – What is my exit strategy?

Find out how difficult it will be to cancel your listing contract if you decide the agent is not selling your home quickly enough. You are the boss, and it shouldn’t be a difficult process to fire one agent and hire another. Some agents will try to get you to sign a contract which forces you to pay a penalty if you cancel your listing before the contract expiration date. If your agent is truly worth their weight, they won’t force you to sign a contract like this. Always ask and get everything in writing.

Question #8 – Who controls your advertising?

Find out if the advertising is controlled by the agent or their broker. If your agent is not in control, your home may have to take a back seat in the marketing department, to all of the other listings from all agents in the brokerage. This is not what you want. Make sure your agent has control over their advertising.

Bonus Tip! – If you are reconsidering hiring an agent because of the complexities involved in picking the right one, let us help! We offer a NO-COST ‘Agent Locator Service’. Because we are ‘in the business’, we know which agents are hot and which ones are not. We would be happy to introduce you to a top agent.

Hope that helps.

Good Luck,
Darren

I want to know that how realtor(real estate agent) react or quote some sentence or behave to buyer when a buyer ask to show them a fsbo (for sale by owner) property?

Your Realtor works for you, if you want to see a FSBO then they should make the appointment and show it to you.

Pt1 of a call with a Realtor to explain to him short sales and double closings. A-B and B-C

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I have been looking at a lot of flat fee realtor services. Essentially, it is still FSBO, but I pay a flat fee and get MLS listing, signs, flyers, lockbox, paperwork, etc. Would this be a good option?

You can sell your house yourself but the efforts seldom result in a sale.

Join HAR’s TRLP group at their latest Weiss Park volunteer project in Houston Texas.

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I want to know that how realtor(real estate agent) react or quote some sentence or behave to buyer when a buyer ask to show them a fsbo (for sale by owner) property?

In my area I market to FSBO. I allow them to continue to sell the home on their own. They really are no competition. In my area, they are ALL over prices and under marketed.

As far as showing? I won’t unless they sign a contract with me to list their home, again they can continue to sell on their own. Before I sell a home I want to make sure it actually can be sold. If a home is listed with a Real Estate Office I can assume that actually can be sold. I do not want to bring a buyer to the table only to find that the sellers ex-wife is still on the title,lives 2000 miles way and won’t return phone calls. I also don’t want to do both the work of a listing agent and selling agent for half a pay check. Call me selfish but who here will go to their boss and ask them to cut their paycheck in half?

I don’t want to waste a buyers time and embarrass myself buy showing a property that can’t even be sold.

It’s a house out of foreclosure. It sold for 43k in 2004, and it hasn’t been on the market (this time around) for very long. The asking price is 12k. The realtor said that it is "priced accordingly", does that mean a crap load of work needs done to it since it last sold for 43k? Or does that mean that’s how much the bank wants to pay it off? The realtor said that the price is still negotiable.

*The realtor did tell me that the people that lived in it stripped out the copper pipes underneath the house.
If it was last appraised @ 43k, does that mean I’ll have to spend 30k to fix it?

You would really need to have it professionally inspected for the right answer. But it does sound like the house is pretty messed up. I believe saying the house is priced accordingly is a polite way of saying the house needs a lot of work. The big downside is people aren’t willing, or don’t have the money to make the repairs. People are pretty lazy. They want to move into a perfect house and aren’t even willing to paint a room or two.

It isn’t just the plumbing you have to worry about. Plumbing isn’t that expensive. But the roof probably needs to be stripped and re-shingled. It might need a new furnace, a water heater, it might have electrical problems. It might be filthy or have broken windows.

A lot of the repairs aren’t that difficult but most people don’t have the energy after working all week.

Would you have to spend 30k to fix it? I doubt it. Yes the repairs could be spendy. But the price difference between the $43,000 and the $12,000 is probably a mixture of needed repairs and the difficulty in finding somebody willing to buy the house and do it.

A professional inspector checks everything from roof to foundation. Unless you do that you don’t know what you are getting. The house could be rotten with termites. The foundation could be bad. I keep seeing the price of $8000. But that is only after learning if the house is worth it or should be burned to the ground.

What is the price of a vacant lot?

With a sagging housing market and a struggling economy, one Jacksonville Florida Realtor is taking a very unique approach to igniting a business boom. Paul Gruenther is a man on a mission. Standing on a busy street corner, he doesn’t want your money; he wants to make you some. Paul is a real estate agent looking for business.

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My husband and I are on the verge of tackling our first house flip but need to build up a team of reliable and experienced professionals to call on — a leading person in this group is obviously a good realtor. The agent who sold us our first (and current) home is nice enough but SUCH a naysayer on investment properties. So she is out! How can I track down someone who is proven, efficient, and worth their commission?

What do you think a good realtor will do for you in finding properties for you to flip? Realtors are too hung up on keeping their fudiciary responsibilities in tact than assisting their clients in selling their property even if it is going into foreclosure and their client will lose their home.

Look at the real estate agent that sold you your home when you asked her about investment properties and her attitude. Well that is about what you will encounter in other real estate agents.

You might find a need for one later, but for now you need a marketing plan to find properties that are in foreclosure, probate properties and other distressed properties.

You have to develop a system of finding the properties yourself, so you can have a consistent number each month or quarter or however you want to do them.

It is always a good idea to flip when you know what you are doing. In this regards you would normally select an area of your choice that is good for you to work and close to where you reside.

I would suggest that you go to your local book store and purchase a couple of books on foreclosures, distressed properties, and buying, rehabbing and flipping. You might also find several other books that you would like to purchase. You might also find a few listed in your public library.

You might also purchase one of the TV guru’s programs. In the program you will find several things of interest. You will find script to use on potential individuals that you would want to purchase their house. A slew of legal forms that you can use as well as a formula that will tell you if the property you are purchasing is gonna give you a profit or not and how to use the formula.

Their package will also tell you things you should look out for in your purchase as well as things to that you should beware of.

You should form yourself a professional team to assist you in your newly found career. This is a partial list that you might start with an attorney, real estate agent, a mortgage broker, a home insurance agent, a notary public, a title rep as well as an escrow closing agent. You might want to add or take away depending on how you feel.

You will also need to develop away to market yourself so you can have an unlimited amount of properties to buy and sell even in a slow market. I will list a couple of ways to accomplish this.

#1 Advertise in the local newspaper that you purchase foreclosures and other distressed properties.

#2 Purchase a foreclosure list from a list broker (Do a mailing campaign like everyone else)(You might also cold call off this list but you must beware of the no-call list)

#3 Select an area in your city to devote full time work in. Walk the area for about 2-3 weeks telling the folks outside their homes what you do pass out flyers out ling that you buy foreclosures and distressed properties as well as probates.

After 3-4 weeks of walking in the neighborhood, contact your title rep and ask for a farm package of the names of the people in your farm area. Now each month mail a newsletter to the names on your farm list.

This method should give you 1-2 housed per month to buy and flip, word of mouth will give you another 1-2.

That will keep you busy with enough to do and earn. You can always expand and you will as you learn more about your trade.

I hope this has been of some use to you, good luck.

"FIGHT ON"