In a buyer's market, having a well prepared home for sale will definitely improve your chances of having interested buyers. Preparing a home doesn't mean you need to hire professional stagers to prep up your house. Here are a couple ideas that you can do yourself and will increase the saleability of your home:
Curb appeal: you've got to get the buyer's out of their car first! Plant some fresh flowers, keep the bushes trimmed and the grass mowed. In winter, keep the driveway and sidewalks clear of all snow and ice. Any peeling paint around the house? Faded shutters or doors? A fresh coat of paint goes a long way.
Clutter: remove remove remove! Rent a storage unit if you must! Having things packed in does not represent how much room you have to store stuff (as one seller expressed to me) it only shows how much stuff you have. It's a turn off to buyers. So declutter the closets, the basement, and the counter tops.
Paint! Again, a fresh coat of paint goes a long way.
Dust: sounds simple enough, but really do a thorough cleaning in every nook and cranny.
These are just a few ideas to share on this blog. For a complete list of ideas that won't break the bank or your back, please contact me by either email or phone and I can send it over to you!
Saturday, July 28, 2007
Friday, July 20, 2007
How To Catch A Home Buyer's Attention
What cracks me up most is when I'm searching thru the MLS for properties for my buyers and I see "broker bonus" or extra commission paid to the selling agent. Anything from a higher commission to a flat amount (I've seen thousands of $$) to be paid to the selling agent at close.
This is not a good incentive to get your house sold. The AGENT isn't the one buying the house, the BUYER is. Don't get me wrong, I'd LOVE to receive that extra amount for doing my job, but if I have a buyer and another agent has a house listed that match their criteria, I'm going to show it to them. The extra $2,000 in commission is not going to enable me to make their mind up to buy that house. And I'm certainly not going to push someone into buying a house that isn't perfect for them.
What incentives work? Practical ones that focus on the home price and monthly mortgage payments:
1. Reasonable asking price. Have the most bang for the buck. Be "below assessed value".
2. Offer downpayment assistance.
3. Offer to pay all or some of the closing costs.
4. Buy mortgage points for the buyer to make the transaction more affordable.
5. Include a home warranty.
You can advertise your incentive to bring buyers in if you are not having much action, or you can use them once you have an interested party to sweeten the deal.
This is not a good incentive to get your house sold. The AGENT isn't the one buying the house, the BUYER is. Don't get me wrong, I'd LOVE to receive that extra amount for doing my job, but if I have a buyer and another agent has a house listed that match their criteria, I'm going to show it to them. The extra $2,000 in commission is not going to enable me to make their mind up to buy that house. And I'm certainly not going to push someone into buying a house that isn't perfect for them.
What incentives work? Practical ones that focus on the home price and monthly mortgage payments:
1. Reasonable asking price. Have the most bang for the buck. Be "below assessed value".
2. Offer downpayment assistance.
3. Offer to pay all or some of the closing costs.
4. Buy mortgage points for the buyer to make the transaction more affordable.
5. Include a home warranty.
You can advertise your incentive to bring buyers in if you are not having much action, or you can use them once you have an interested party to sweeten the deal.
Wednesday, July 18, 2007
Buyer Representation
In the state of Wisconsin, a buyer can chose to work with an agent in one of 2 ways, as a 'sellers agent' or as a 'buyers agent'.
Buyer representation occures when a buyer enters into a contract with a real estate agent allowing that agent to represent them. A buyer may not enter into a contract with more than one real estate agent.
Seller agency occures at all other times. In Wisconsin, the default agency is "seller agency".
The Multiple Listing Service (MLS) is a service that real estate agents use to 'list' your property. It is also an agreement from that lister to pay the commission (which amount is stated in the MLS for all agents to see) to the agent who brings in the buyer. For this reason, unless there's a signed buyer agency agreement, all real estate agents work on behalf of the seller.
Now there is also a period called pre-agency. Perhaps you've just met an agent and don't know yet if they are a good match for you. The pre-agency period allows the agent to act in a neutral state. Once negotiations begin, you do need to decide how you wish to be represented.
Why chose buyer agency? In most cases, you get all the knowledge and negotiating power of a professional real estate agent at no cost you. Remember, if the house is listed, the seller pays the commision. What if it's not listed? The commission can be negotiated to be paid by the seller, the buyer, or a combination of both. The percentage amount varies, my particular amount is either 2% of the sale price or what is offered on the MLS, whichever is greater.
Also, with an agent working on behalf of you, they are able to negatively critique a property, make suggestions of a purchase price, compare similar properties that have sold, and overall work with your best interests in mind, getting you the best price and terms.
How do you know which agent would be good as a buyer representative? Look for one that has the ABR Designation (Accredited Buyer Representative). This agent has specific training and experience in working with buyers. I earned my ABR in my first year as a real estate agent.
To learn more about buyer representation, please email me and I will send you some information.
Buyer representation occures when a buyer enters into a contract with a real estate agent allowing that agent to represent them. A buyer may not enter into a contract with more than one real estate agent.
Seller agency occures at all other times. In Wisconsin, the default agency is "seller agency".
The Multiple Listing Service (MLS) is a service that real estate agents use to 'list' your property. It is also an agreement from that lister to pay the commission (which amount is stated in the MLS for all agents to see) to the agent who brings in the buyer. For this reason, unless there's a signed buyer agency agreement, all real estate agents work on behalf of the seller.
Now there is also a period called pre-agency. Perhaps you've just met an agent and don't know yet if they are a good match for you. The pre-agency period allows the agent to act in a neutral state. Once negotiations begin, you do need to decide how you wish to be represented.
Why chose buyer agency? In most cases, you get all the knowledge and negotiating power of a professional real estate agent at no cost you. Remember, if the house is listed, the seller pays the commision. What if it's not listed? The commission can be negotiated to be paid by the seller, the buyer, or a combination of both. The percentage amount varies, my particular amount is either 2% of the sale price or what is offered on the MLS, whichever is greater.
Also, with an agent working on behalf of you, they are able to negatively critique a property, make suggestions of a purchase price, compare similar properties that have sold, and overall work with your best interests in mind, getting you the best price and terms.
How do you know which agent would be good as a buyer representative? Look for one that has the ABR Designation (Accredited Buyer Representative). This agent has specific training and experience in working with buyers. I earned my ABR in my first year as a real estate agent.
To learn more about buyer representation, please email me and I will send you some information.
Monday, July 16, 2007
About me
This is the launch of my blogging! I have decided to blog about real estate to hopefully reach out and help people for all their real estate endeavors. The Internet is a great source of information, and today the majority of home buyers and sellers will search online first before contacting a real estate agent. My intent is to be your online source...your "online real estate agent" who's here to answer questions, give you valuable information, websites to visit, all without being that "harassing" real estate agent! No one wants to be bothered, and I understand that.
So, why me? Here's some information about myself...
I am a licensed real estate agent with Century 21 Reich & Roberts Associates. We are located at 161 West Sunset Drive in Waukesha WI. This office has been servicing Waukesha and surrounding counties for around 40 years.
I personally have been involved in real estate for almost 4 years. I started off reading and learning about investing in real estate. The book that got me going is none other than Rich Dad, Poor Dad by Robert Kiyosaki. I chose this broker (Dick Roberts) at this Century 21 office to be my agent because of his vast knowledge in the local housing and rental area. One of his first questions he asked me was "Are you interested in becoming an agent?", to which I quickly replied "No!". I didn't think I could do those 'crazy realtor hours'! Well, after a few years of searching, and searching, and researching, and running numbers, viewing hundreds of duplexes, triplexes, single family homes, making offers, counter offers, and accumulating 3 rental properties, I decided that yes, I am interested in becoming an agent! I was previously a stay at home mom with no idea of what I would do once the kids got older. I wanted to contribute financially to the household, which is why I decided to get into real estate investing. And after doing those 'crazy realtor hours' inadvertently for a few years, I was able to realize that this was my calling. This was my passion. I loved the research, the hunt, the crunching the numbers, the negotiating, and finally the accepted offers.
In March of 2006 I obtained my real estate license. Since then I have also acquired my ABR Designation. The Accredited Buyer Representative Designation is a nationally recognized designation awarded by the Real Estate Buyer's Agent Council, Inc. (REBAC) to REALTORS who meet the specified educational and practical experience criteria.
I am also a REALTOR (registered trademark, sorry I haven't learned how to make this symbol yet, any help would be appreciated!) Only real estate agents who have chosen to join the National Association and abide by its strict Code of Ethics can call themselves
REALTORS(registered trademark).
All of my affiliations are:
National Association of REALTORS (NAR)
REALTOR(registered trademark) (someone help me please!)
Wisconsin REALTORS(R) Association (WRA)
Women's Council of REALTORS(R)
Real Estate Buyer's Agent Council Inc. (REBAC)
Wisconsin Apartment Association (WAA)
Waukesha Area Apartment Association (WAAA)
Metro Milwaukee Multiple Listing Service
I hope this sets a good background of myself and why I do what I do. Any questions or comments are welcome!
Be sure to visit my website at http://www.sarah-steelman.com/ !
So, why me? Here's some information about myself...
I am a licensed real estate agent with Century 21 Reich & Roberts Associates. We are located at 161 West Sunset Drive in Waukesha WI. This office has been servicing Waukesha and surrounding counties for around 40 years.
I personally have been involved in real estate for almost 4 years. I started off reading and learning about investing in real estate. The book that got me going is none other than Rich Dad, Poor Dad by Robert Kiyosaki. I chose this broker (Dick Roberts) at this Century 21 office to be my agent because of his vast knowledge in the local housing and rental area. One of his first questions he asked me was "Are you interested in becoming an agent?", to which I quickly replied "No!". I didn't think I could do those 'crazy realtor hours'! Well, after a few years of searching, and searching, and researching, and running numbers, viewing hundreds of duplexes, triplexes, single family homes, making offers, counter offers, and accumulating 3 rental properties, I decided that yes, I am interested in becoming an agent! I was previously a stay at home mom with no idea of what I would do once the kids got older. I wanted to contribute financially to the household, which is why I decided to get into real estate investing. And after doing those 'crazy realtor hours' inadvertently for a few years, I was able to realize that this was my calling. This was my passion. I loved the research, the hunt, the crunching the numbers, the negotiating, and finally the accepted offers.
In March of 2006 I obtained my real estate license. Since then I have also acquired my ABR Designation. The Accredited Buyer Representative Designation is a nationally recognized designation awarded by the Real Estate Buyer's Agent Council, Inc. (REBAC) to REALTORS who meet the specified educational and practical experience criteria.
I am also a REALTOR (registered trademark, sorry I haven't learned how to make this symbol yet, any help would be appreciated!) Only real estate agents who have chosen to join the National Association and abide by its strict Code of Ethics can call themselves
REALTORS(registered trademark).
All of my affiliations are:
National Association of REALTORS (NAR)
REALTOR(registered trademark) (someone help me please!)
Wisconsin REALTORS(R) Association (WRA)
Women's Council of REALTORS(R)
Real Estate Buyer's Agent Council Inc. (REBAC)
Wisconsin Apartment Association (WAA)
Waukesha Area Apartment Association (WAAA)
Metro Milwaukee Multiple Listing Service
I hope this sets a good background of myself and why I do what I do. Any questions or comments are welcome!
Be sure to visit my website at http://www.sarah-steelman.com/ !
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