When You Make An Offer to Purchase A Home...Go The Distance

When a client is ready to make an Offer to Purchase on a home, one of the first things I do is determine how realistically the asking price is.  This is important because the closer asking price is to market value, the closer the agreed upon purchase price will be to that number, except in cases of hardship.  To determine market value,  I look at comparable sales in the last six months, days on market, whether the home has received other offers, tax value, and local market conditions, to name a few.   I present my finding to the buyer client in order to help them determine a good opening offer.

Of course it's human nature to want to get the best deal possible, I get that.  But the purpose of making an offer is, at the very least, to get the seller to counter offer, if not accept.  So if the home is priced relatively close to market value, and your initial offer is ridiculously low, the only thing you will have accomplished will be to have insulted the seller who'll shut you down.  

As an agent, I wish for homes to be priced correctly because they are easier to sell.  As a buyer, you have to be able to recognize it when it happens and react accordingly.  Your agent has done a lot of work to help you achieve your goal of finding a home in your price range that meets your needs; has done all the paperwork necessary to make an offer; and has researched comparable properties and market conditions so you can make an educated offer.  If you are a serious buyer, go the distance.  Consider all the information given to you by your agent and negotiate intelligently.  If both buyer and seller are committed, it should result in a meeting of the minds and an accepted offer.

Preparing for the Year to Come

Trying to be a successful real estate agent, you are faced with many circumstances out of your control.  We are all taught the harder you work, the more successful you will become.  Coming up in the corporate world, this appeared to be true.  Real estate is quite a different animal in the respect that you have to work extremely hard for several years before you even start reaping the rewards.  And when I say work hard, I mean every day.  It would help if the economy, something I have no control over, would cooperate!  In the beginning of my career as an agent, and even to this day, it is sometimes hard to stay positive during the down times when I am not doing as much business as I would like.  But in this business, you have to stay focused and positive and keep at it no matter what, and in the end it will pay off. 
Christmas and the New Year holidays are fast approaching and as a real estate agent in coastal North Carolina, this time of year signals a slow down in real estate sales which usually lasts until at minimum the end of March.  These times used to be so very hard for me to take.  I'd question my ability as an agent and my career choice, but once the season started up again, I fell was back in the ring and understood why I enjoy selling real estate and helping people so much.  So now that I have become a more experienced agent, I use this time to prepare myself for the New Year; take aim at what I want to accomplish and put a plan in place to achieve my goals in helping buyers and sellers achieve theirs.

Merry Christmas, Happy New Year and see you in 2014    

Purchase Process Should Be Positive

In my opinion, home ownership is very important and a great source of pride and joy.  Because it is such a wonderful thing, as a real estate agent I believe the purchase process needs to be a positive experience as well - sort of like a prelude of good things to come.  This is not always possible as the purchase process has become somewhat complicated with demanding lenders, confusing paperwork and sometimes difficult negotiations.  What I try to do is take one step at a time and without drama handle each issue and solve each crisis as it presents itself.  It also helps to prepare buyers and sellers for what to expect, and things to consider when dealing with issues to keep them from turning into larger, stressful problems.  Purchasing a home is a collaboration of sorts, between people working toward the same goal (for different reasons) and if you are smart and remain realistic about what is important, it should be a successful, stress-free, positive experience and good start to the next chapter of your life.

Real Estate Agents Bring A Lot To The Table

The internet has changed the way business we business, and in fact has made many jobs obsolete.  With the abundance of real estate information available online, one would expect the need for real estate agents to dwindle but actually the opposite has occurred.  The number of agents was definitely diminished by the crash in the market, but according to the National Association of Realtors, 89% of buyers retained an agent in 2012, up from 69% in 2001; On the seller side, just 9% sold a home without using an agent, down from 20% in 1987.  There are some good reasons why real estate brokers still exist.  

 

Generally speaking, REALTORS* bring a lot to the table. They bring their knowledge, but maybe more importantly, they bring their insight and experience.  Since the crash in the real estate market, not only have lenders tightened their standards, but real estate transactions have gotten much more complicated and continue to do so.  Agents can match you up with local lenders who have successfully worked through circumstances similar to yours.  They can negotiate tricky contracts and will guide you through the real estate transaction, all the while looking out for your interests and making it as stress-free as possible.

They also have special insight into neighborhoods and specific communities that you cannot get from a website and can introduce some options that you would not have known existed had you not been working with an agent.  For example, a buyer I worked with was looking for a vacation home and asked to see available homes in a particular neighborhood.  After listening to what his wants were and getting to know him better, I finally got him to look at a home in a different community that I thought might be a better fit.  I was pretty sure he would love the community and I knew that one home in particular, had a great floor plan.  I finally got him to agree to see it, and he and his wife purchased that home and are extremely happy with their choice.

Another buyer was sure he could find a home and navigate the real estate process on his own and really just wanted me to get him into the houses he had chosen.  Again, after listening to him and getting to know what he was looking for, I showed him some options that he did not know existed, but really fell in love with.

In closing, do not under estimate the importance of a real estate agent and what they bring to the table.  Do your homework on the internet and be as familiar with your target market as possible. Then find an agent that you can work with and commit to them.  They will surely be committed to you and will positively impact your real estate experience.

Every Client Deserves Your Best

As a real estate agent, I am contacted by people from all walks of life and of varying means.  In my life, I treat people as I would like to be treated myself - with kindness and respect.  That is also how I do business.  I work hard for  all my clients, regardless of how much money they are willing to spend or how much commission I am apt to make, because everyone deserves at least that.  The amount of money someone has does not necessarily correlate to the amount of character they possess or the impact they will have on your life.  And I have been rewarded over and over again.

Case in point:  For the past several months, I had been corresponding with a couple interested in moving to Brunswick County, NC.  They were looking for a  retirement home and wanted to stay under $200,000.  This sounded promising and I was eager to help.  The couple finally came to town and had a long list of homes they wanted to see so I set aside three days for them.

After the first day of showings, I had a better idea of what they were looking for and went back to my office to eliminate some of the homes on their list that did not meet their needs.  In the middle of this task, I missed a phone call from a man who left a message.  His name was Jim and he and his wife were very interested in one of my listings, a singlewide mobile home that had been listed for $72,000.  I knew the home was already under contract and I was so involved with the other people that I actually forgot to call him right back.  Later that day, as I was driving home, Jim called again.  I apologized for not calling him back and he was very gracious about it and I immediately got a nice feeling about these people.  We talked for awhile and I found out that Jim and his wife were looking for an inexpensive vacation home that they could come to several times a year.  I told him I would look on MLS and if I found anything that might be of interest, I would call them.

Long story short, the first people who were willing to spend more money, had not really been totally honest with me.  They had not yet decided whether they wanted to retire to Brunswick County, NC or to South Carolina and so looking at houses for three days would not have been productive or helped them make that decision.  On the other hand, Jim and his wife knew what they were looking for, how much they wanted to spend, where they wanted their vacation home to be and had the means to make the purchase.  But the best part is that, as seniors who had not purchased or sold a home in a very long time, they felt lucky to have found me and relied on me to explain things and guide them through the transaction and to really look out for their interests.  In turn, I knew I too was lucky to have met Jim and his wife, as they are honest, down to earth people who deserve the very best from me and from life.

1195 Eastwood Landing Way, Sunset Beach, NC

Come To Coastal Brunswick County

Are You Ready to Make An Offer?

   Your real estate agent has shown you homes and you now want to make an offer. These days, everyone is looking for "a deal", but you need to be able to recognize "a deal" when you see it.

The comparable active and sold property information that your agent gives you should help you determine what market value is for this home and how asking price compares. The home may be priced above market value, but if it is priced belowt or at market, even if you made a full price offer you still would be getting a good deal.

Compare this home with the others you have seen in your price range. How does it rank among them? If it out-shines the other available properties, has more upgrades, better location, or a more appealing floor plan, for example, it will have more value than the others.

A seller offering to pay all or some closing costs, is providing a home warranty that transfers to the buyer at closing, or is willing to work with your time table also adds value. All things to consider.

In closing, a "lowball" offer does not guarantee getting a "good deal" on a home and may actually have more negative effects than positive. You have to be able to recognize a good price when you see it, and if you are a serious buyer, make an offer and negotiate it from an educated standpoint. Be realistic and stay focused on what you and your agent are trying to achieve - not the thrill of the game - and you will get the prize!

What You Should Know About Working With A REALTOR

As a REALTOR, I think buyers and sellers should always seek the services of a real estate professional when looking to buy or sell property. But my opinion is definitely biased!  Yes, selling real estate is my job, but honestly, money is not the only reason I do it. In fact, and I know you won't believe me, but as I progress through the purchase or sales transaction and I get to know my clients, their dreams become my dreams, and the commission check I get at closing is almost an afterthought!  Told you you wouldn't believe me...but it is true!

• A real estate professional can help sellers increase their bottom line by knowing the market and what similar homes have recently sold for. Pricing your home correctly from the onset is very important and your agent can help you determine what the value of your home is.
• Agents have many tools available to them to advertise your property and get buyer attention. Close to 90% of buyers start their search on the internet and agents have access to websites, the Multiple Listing Service (MLS), and resources that syndicate listings to all major real estate websites basically all over the world.
• Real estate is our job and agents work at selling your home or property every day.
• Perhaps you're tempted to sell your home on your own because you think you will get more money, Before you put that "FSBO" sign in your yard, be aware that it can indicate to buyers that you would be willing to take a lower price. In addition, strangers will be ringing your bell to see your home who may not really be interest in purchasing or who are not qualified to get a mortgage. Agents know how to screen perspective buyers, have the contacts to get them qualified for a mortgage, and know how to negotiate price and other important aspects of a contract.
• Buyers should choose a REALTOR they want to represent them with care, but once you find one you are comfortable with, you should sign a buyer's agreement. A buyer's agency agreement is a commitment that goes both ways. It not only commits the agent to you, but also shows the agent that you are also comitted to him or her and that you have confidence in how they will represent you. Once they know know that, they will work tirelessly for you.
• When you find a home, an agent can provide market information and insight to help you determine what kind of offer to make. They will not tell you what you should pay - that is up to you, but they can tell you why a seller may or may not take less and provide the tools so you can make an informed decision.
  

In conclusion, once you have found a good agent, stick with them and let them do their job. The rewards will be great.