Discounty Realty – The American Way?
September 21, 2010 By Leave a Comment
Competition is and always has been the American way. In virtually any product category, there are multiple competitors. It is up to the buyer to determine the right product or service for them, weighing the costs and benefits, comparing pricing, examining service levels, etc. For instance, walk down a grocery aisle and you will see that there are hundreds of brands of cereal, each with different ingredients, packaging, colors, size, etc. For those that don’t want to pour their own cereal, there are many different restaurants that offer it, and there are even some new restaurants whose whole theme revolves around mixing and serving different types of cereal.
Residential real estate brokerages are no different. They compete amongst one another to gain listing share, or a greater number of listings in a particular area. For years, the primary focus has been on differentiating services based on sometimes minor details, such as the type of sign offered, the number of open houses held per month, and having more designations on one’s business card. As those factors become less important, the focus has shifted to pricing.
Discount real estate brokers now offer homeowners the opportunity to list their home for a fraction of the cost they may have paid in the past. Some discount realty companies charge a flat fee, others have a commission rate that is a lower percentage than customers are used to paying. Either way, homeowners benefit from this competition in the form of lower prices.
One of the main drivers of the increase in discount realty companies has been the commoditization of the Multiple Listing Service (MLS). This system compiles thousands of listings into a database for buyers’ agents to locate properties. Simply being in this database is the #1 most powerful tool in selling one’s home; 80-90% of the homes in many areas sell through the MLS. Since all broker-members of the local MLS could list properties, homeowners realized that if that was the only service they wanted, they wanted to pay a fair price for it.
Using the cereal analogy, some might be more focused on the price of the box instead of the fancy packaging or complimentary plastic toy inside. Others might want to pay extra for marshmallows or prefer more raisins or more bran. Many homeowners have simply chosen not to pay much more money for things they do not want or need.
Twenty years ago, discount realty may have been considered a trend that would come and go. Today, it is a major driving force in the real estate industry and homeowners across America are clamoring for discount realty options like flat fee listings and ala carte services. Just like all other companies, each competitor must market its products and services to buyers.
In the end, the marketplace will decide which competing brokerage firms will succeed. Discount realty firms have staked their place in real estate. Other full price firms have also continued to succeed. Their symbiotic existence is a perfect example of the wonders of free market capitalism and free choice.
What is a Short Sale?
September 17, 2010 By Leave a Comment
To Buy or Not to Buy?
September 16, 2010 By Leave a Comment
When thinking about purchasing a home you definitely need to consider many different things. One of the most important things to me is lifestyle. Are you living a somewhat stable lifestyle in which you see your self wanting to be in the area you are buying in. After all this to me is the main difference between buying and renting. When I was renting a home I could just up and go if I wanted when my lease was up. Now that I own a home obviously the same thing is not as easy. So if you have determined that buying is the right thing to you and are ready to make the commitment then there still are a few other things to consider. Always compare what you can get a month for rent in the same area you are buying. If you can on a 30 year note have a lower or equal payment to what it would cost to rent then many times buying is a no brainer. Especially if you will be sticking around a while. A problem of the Real Estate market of the past 10 years or so is that everyone has looked at their homes as an investment and not a home. When you purchase your home of course look for a good deal and by using a Realtor make sure you get a good price. However in my opinion definitely think about how the home works for you and the way you live and if you can see it being something you can take pride in and enjoy fixing, maintaining, and upgrading. Of course tax rebates have expired and that direct $8000 in the pockets of Home Buyers have left many weary of entering the market without such a blatant incentive. Interest rates however have fallen even more and rates as low as 4.25% and lower are common on 30 year and 15 year mortgages. During the tax credits most loans were going in the 5 to 5.5% range. Over 1 year the difference in monthly payment will save you over $1700 a year in monthly payments and over the life of the loan will save you over $33,000. Compare this to the 7% rates that were common only 5 years ago and the yearly savings goes to over $3100 a year and just shy of $75,000 over the life of the loan. Compared to rates that were common in the 80′s of over 10% these numbers just keep getting larger. So in essence if your lifestyle is ready for the commitment of being a home owner than their really is still no better time than now. Foreclosures are still widely available and are keeping prices competitive in both preexisting and new construction. Always talk to a Realtor when buying a home. An educated professional Realtor can save you tons of time and money. Don’t worry all Realtor fees are paid for and negotiated already in the list price by all home sellers who have their homes listed on the market. Check out this Article
Should you use a Realtor when buying a New Construction Home
September 14, 2010 By Leave a Comment
I’d like to start by dispelling a rumor that builders do not like to work with realtors. Most builders actually offer huge incentives to realtors in order to bring their clients to them. Builders often time have built into the cost of every home an advertising budget and part of this budget is the money they set aside to pay realtors commissions.
Very similar to the way a regular seller has already agreed to pay a commission to the realtors involved in the sell of their house.
The use of a realtor can save you time, money and frustration when looking for and negotiating a new home. At the beginning of the process a realtor can talk to you about your needs, desires and budget and set out the communities and builders that will work for. Then a good realtor will offer to bring you the information on all these builders mainly floor plans, prices, etc. This saves you from driving around going into neighborhoods and builders that may be not right for you and ending up on multiple sales peoples calling lists.
Once you have narrowed it down to a few different neighborhoods and builders your realtor can schedule showings privately if possible on some spec homes they have available. Once again hopefully making it easier to see which builder is going to be one that you would want to negotiate and avoid dealing with to many sales tactics and repeat calls.
Your realtor should also be able to inform you on the general condition of the neighborhood. How many phases is it? Are pre-owned homes selling? If so for how much? How much longer will construction be going on? Have foreclosures been a problem in the area?
Once you decide to move forward and negotiate with a builder a good realtor can really give you a leg up in negotiating. The name of the game for many builders is upgrades. They will get you in with what seems to be a good price for a good size house, but then of course as soon as you ask about all the nice things in the model home you soon find out the cost goes up quick.
A realtor can help you prioritize your upgrades and give advice on which ones could be better for resale and which ones could be left to be upgraded down the road. An experienced realtor also can know about the pricing and margins involved in the upgrades and can help you right an initial first offer that is aggressive but not insulting and make sure that you get everything you need at the price you want.
Sadly I have received more than one phone call from buyers who have put down earnest money with a builder only to end up losing the money for one reason or another. By working with a realtor who knows your full situation you can assure that proper contingencies are put in place in order to protect your money.
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Buying a Home A to Keys!!!
September 4, 2010 By Leave a Comment
Approval
The approval or pre-approval process is definitely one of the most important steps in buying a home. By talking with one or more reputable lenders you can establish that your credit score is sufficient and what type of buying power or how much home you can afford. If a lender tries to charge you for a pre-approval or credit report or takes a long time to return an initial phone call do your self a favor and move on. Availability and Response in this business can be the difference in getting the keys on Friday afternoon like you planned or having to wait until the next Monday because your lender and Realtor were not responsive to a last minute need that may have popped up.
Buyer Beware
Buying a home is nothing to dive into on a whim. Unlike renting there are a few other cost associated with owning a home. 1) Taxes and Insurance – These are an added cost,however in many markets you can get a home for the same total monthly payment including your mortgage payment as you can rent one for. 2) Utilities – If you are coming from an apartment or from a smaller home to a larger home you do need to consider the extra money it will cost monthly to pay for the extra usage. Especially in the case of Homes with pools or homes that are older with no upgrades and old Heating and Air Condition Systems. 3) Maintenance – There is no landlord to call when something breaks and licensed professional repair and maintenance men do not come cheap. So always consider the age of the home and any major problems coming in the future. (ie roof, heating & air, water heater or other appliances) Home Warranties are widely available and typically cover all the things mention above for a yearly premium.
Count Your Dollars
Definitely run a budget and make sure that if you can foresee problems in the future for the home, make sure that your budget will be in a position to begin saving money to be prepared for these problems. Also when buying a pre-existing home account for annual maintenance. Mainly pest treatment, heating and ac maintenance, and yard and landscaping needs. At the end of the day doing improvements and maintaining your new home can be very rewarding but is always best to be done responsibly.
Decide on an Area
Obviously you will know what you are looking for in an area, whether it is good schools with a easy commute or a location that it near great entertainment and dining areas. Get these things on paper and discuss them with your Realtor as they can probably point you to areas you may not have thought about or even bring up some other things to consider that line up with the rest of your wants and needs in a home. Once you have settled on a few areas go and drive around and see what you think. If you feel so brave knock on a door or stop and talk to someone who is outside and find out what they think about living there. Many time locals can be a great source of information about an area for obvious reason.
Educate yourself on the Market
I always prefer working with a buyer a few months before they are ready to make a decision in order to acclimate them to the market. This means I an send them searches of their desired areas and they can keep an eye on the actual prices that things are selling for. So that when it is time to go and look at homes and we find one that really is a good deal, typically foreclosure, they are comfortable pulling the trigger quickly. Waiting to make an offer on a well [riced property is a grave mistake many people make when shopping for a home.
Do your best to find out more information about the different areas or subdivisions. How are the schools? Is there new Construction near by? If so what is it selling for? How many foreclosures have sold in the neighborhood? If so how much less did they sale for than market value? Asking these and other questions related to the area you are interested in will definitely help you make an informed decision.
Find your Home..
Sounds so simple. Sometimes it is, but most of the time it is a process that can be both arduous and long. A good Realtors job is to keep you focused and make sure you efficiently view the properties that match your criteria and that when negotiating you put your best foot forward without giving away the farm or insulting the seller. When looking for a home be weary of the Realtor who looks on the bright side of every home. The way I approach viewing homes is that as a Realtor it is my job to point out the issues that the home has and how it compares to other ones you have seen that you like. Ultimately as your buyers representative my goal is to make sure that you are happy with your new home no matter which one it is. Also be weary of the Realtor putting the hard sale on any particular house unless it is a foreclosure that is obviously priced well. In new construction and even pre-existing many sellers will offer bonuses to Buyers agents that unless the Realtor discloses it to their buyer will not be disclosed until paperwork signing or even as late as closing. Dont forget that if you are looking at new construction it really is best to be represented by a Realtor. I have heard countless stories of home buyers signing contracts not completely understanding financing contingencies only to find they cannot qualify and are out whatever Earnest Money they put down. At the end of the day a qualified Realtor can negotiate a very good deal for you with any Home Builder and protect you from un-forseen pitfalls that could effect those who are not familiar with the Home Buying process.
Get A Contract
So you have found the home that will be your new home. Now it the time to negotiate that contract. Upon making an offer your Realtor should be able to show you the numbers of comparable sales in the Area to make sure that you initial offer is not to high, but at the same time not insulting to the Seller as to make them tighten up on negotiations. Below are the items that are typically negotiated in every Real Estate transaction.
Sales Price – Fairly self explanatory
Owners Title Policy – In the majority of pre-existing sales this is paid by seller, however is negotiable. Basically this insures that if the title company has done anything wrong in their title search that no one can come back and claim right to your new property
Survey – In cases of financing a home or buying a large piece of land that is un-platted the buyers lender or the title company may require a Survey of the property. If the seller has a survey that is not to old and the property is still the same as it was when they bought it many times the lender or title company can accept this.
Closing Costs – On many loans the seller is allowed to pay buyers closing costs. Basically depending on whether you are paying cash on a property and the price their can be anywhere from 1% to 6% closing cost. These are title, loan and lawyer fees as well as insurance and tax escrows in the case of financing. These are 100% negotiable and unless the Seller has stated they are willing to pay closing costs then they are in no way obligated to. If they are working with a good listing Realtor they should be well aware that many home buyers ask for these closing costs. So ultimately if you offer $100,000 for a home and ask for $5000 in closing costs you are really only offering the Seller $95,000
Home Warranty – Once again a good Sellers Realtor should let them know that many times in pre-existing construction a Home Buyer is going to ask for a Home Warranty Policy. Basically these range from $350 to $650 and plus a year and covers and problems they may have with the major systems of the home.
Closing Date – This is the date by which you will be able to get your funds together to transfer title of the house. The most important thing here is making sure that your lender and Realtor are on the same page and that the Realtor has allowed enough time for the lender to do his or her job. Average close time is 30 to 45 days after contract
Temporary Leases – Many times sellers will request a temporary lease for 24 to 72 hours after closing. I always tell my buyers not to worry about this as it is a very fair protection for the seller. Sadly sometimes deals go as far as the day before closing and fall apart. So if the seller has already moved out or worse yet purchased another property they are left holding the bag.
Help get it closed
Not really as hard as it sounds. In todays lending climate lenders need a lot of documentation. Making sure that you get this to the lender in a timely fashion is the main thing that matters from the buyers perspective that will keep the purchase process moving smoothly. Also making sure that you heed your Realtors advice on getting your Inspections performed ASAP as to allow maximum time to negotiate any repairs that may be needed. While in the process of buying a home make sure that you speak to your lender before making any large credit driven purchases as this can many times effect the loan near the end especially if the bank calls for a new credit report.
Inspect the Property
Most of the time you will have a 10 day option period to inspect a property. My advice is always have the inspector lined up and ready to go as you end the negotiations so that you can hopefully have them in the house in the first couple days of being under contract. Once the inspector goes through the property they will provide you with a report giving you an over all idea of what the condition of the property is. Talk to your Realtor and let them help to figure out if it looks like you have some items that maybe you should consider or if as a whole the property appears to be sound.
Keys..
Simple as that. Your Realtor and Lender will coordinate with the Title Company for a time for you to come in and sign the papers on your new house. A day or so before closing the Title Company will generate what is called a HUD-1 statement. This outlines all the finances of the deal and will let you know exactly how much the check you will need to bring to closing. Once documents are signed it can take anywhere from an hour to 24 hours to fund. Once funded your new home is yours.
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Approval
The approval or pre-approval process is definitely one of the most important steps in buying a home. By talking with one or more reputable lenders you can establish that your credit score is sufficient and what type of buying power or how much home you can afford. If a lender tries to charge you for a pre-approval or credit report or takes a long time to return an initial phone call do your self a favor and move on. Availability and Response in this business can be the difference in getting the keys on Friday afternoon like you planned or having to wait until the next Monday because your lender and Realtor were not responsive to a last minute need that may have popped up.
Buyer Beware
Buying a home is nothing to dive into on a whim. Unlike renting there are a few other cost associated with owning a home. 1) Taxes and Insurance – These are an added cost,however in many markets you can get a home for the same total monthly payment including your mortgage payment as you can rent one for. 2) Utilities – If you are coming from an apartment or from a smaller home to a larger home you do need to consider the extra money it will cost monthly to pay for the extra usage. Especially in the case of Homes with pools or homes that are older with no upgrades and old Heating and Air Condition Systems. 3) Maintenance – There is no landlord to call when something breaks and licensed professional repair and maintenance men do not come cheap. So always consider the age of the home and any major problems coming in the future. (ie roof, heating & air, water heater or other appliances) Home Warranties are widely available and typically cover all the things mention above for a yearly premium.
Count Your Dollars
Definitely run a budget and make sure that if you can foresee problems in the future for the home, make sure that your budget will be in a position to begin saving money to be prepared for these problems. Also when buying a pre-existing home account for annual maintenance. Mainly pest treatment, heating and ac maintenance, and yard and landscaping needs. At the end of the day doing improvements and maintaining your new home can be very rewarding but is always best to be done responsibly.
Decide on an Area
Obviously you will know what you are looking for in an area, whether it is good schools with a easy commute or a location that it near great entertainment and dining areas. Get these things on paper and discuss them with your Realtor as they can probably point you to areas you may not have thought about or even bring up some other things to consider that line up with the rest of your wants and needs in a home. Once you have settled on a few areas go and drive around and see what you think. If you feel so brave knock on a door or stop and talk to someone who is outside and find out what they think about living there. Many time locals can be a great source of information about an area for obvious reason.
Educate yourself on the Market
I always prefer working with a buyer a few months before they are ready to make a decision in order to acclimate them to the market. This means I an send them searches of their desired areas and they can keep an eye on the actual prices that things are selling for. So that when it is time to go and look at homes and we find one that really is a good deal, typically foreclosure, they are comfortable pulling the trigger quickly. Waiting to make an offer on a well [riced property is a grave mistake many people make when shopping for a home.
Do your best to find out more information about the different areas or subdivisions. How are the schools? Is there new Construction near by? If so what is it selling for? How many foreclosures have sold in the neighborhood? If so how much less did they sale for than market value? Asking these and other questions related to the area you are interested in will definitely help you make an informed decision.
Find your Home..
Sounds so simple. Sometimes it is, but most of the time it is a process that can be both arduous and long. A good Realtors job is to keep you focused and make sure you efficiently view the properties that match your criteria and that when negotiating you put your best foot forward without giving away the farm or insulting the seller. When looking for a home be weary of the Realtor who looks on the bright side of every home. The way I approach viewing homes is that as a Realtor it is my job to point out the issues that the home has and how it compares to other ones you have seen that you like. Ultimately as your buyers representative my goal is to make sure that you are happy with your new home no matter which one it is. Also be weary of the Realtor putting the hard sale on any particular house unless it is a foreclosure that is obviously priced well. In new construction and even pre-existing many sellers will offer bonuses to Buyers agents that unless the Realtor discloses it to their buyer will not be disclosed until paperwork signing or even as late as closing. Dont forget that if you are looking at new construction it really is best to be represented by a Realtor. I have heard countless stories of home buyers signing contracts not completely understanding financing contingencies only to find they cannot qualify and are out whatever Earnest Money they put down. At the end of the day a qualified Realtor can negotiate a very good deal for you with any Home Builder and protect you from un-forseen pitfalls that could effect those who are not familiar with the Home Buying process.
Get A Contract
So you have found the home that will be your new home. Now it the time to negotiate that contract. Upon making an offer your Realtor should be able to show you the numbers of comparable sales in the Area to make sure that you initial offer is not to high, but at the same time not insulting to the Seller as to make them tighten up on negotiations. Below are the items that are typically negotiated in every Real Estate transaction.
Sales Price – Fairly self explanatoryOwners Title Policy – In the majority of pre-existing sales this is paid by seller, however is negotiable. Basically this insures that if the title company has done anything wrong in their title search that no one can come back and claim right to your new property
Survey – In cases of financing a home or buying a large piece of land that is un-platted the buyers lender or the title company may require a Survey of the property. If the seller has a survey that is not to old and the property is still the same as it was when they bought it many times the lender or title company can accept this.
Closing Costs – On many loans the seller is allowed to pay buyers closing costs. Basically depending on whether you are paying cash on a property and the price their can be anywhere from 1% to 6% closing cost. These are title, loan and lawyer fees as well as insurance and tax escrows in the case of financing. These are 100% negotiable and unless the Seller has stated they are willing to pay closing costs then they are in no way obligated to. If they are working with a good listing Realtor they should be well aware that many home buyers ask for these closing costs. So ultimately if you offer $100,000 for a home and ask for $5000 in closing costs you are really only offering the Seller $95,000
Home Warranty – Once again a good Sellers Realtor should let them know that many times in pre-existing construction a Home Buyer is going to ask for a Home Warranty Policy. Basically these range from $350 to $650 and plus a year and covers and problems they may have with the major systems of the home.
Closing Date – This is the date by which you will be able to get your funds together to transfer title of the house. The most important thing here is making sure that your lender and Realtor are on the same page and that the Realtor has allowed enough time for the lender to do his or her job. Average close time is 30 to 45 days after contract
Temporary Leases – Many times sellers will request a temporary lease for 24 to 72 hours after closing. I always tell my buyers not to worry about this as it is a very fair protection for the seller. Sadly sometimes deals go as far as the day before closing and fall apart. So if the seller has already moved out or worse yet purchased another property they are left holding the bag.
Help get it closed
Not really as hard as it sounds. In todays lending climate lenders need a lot of documentation. Making sure that you get this to the lender in a timely fashion is the main thing that matters from the buyers perspective that will keep the purchase process moving smoothly. Also making sure that you heed your Realtors advice on getting your Inspections performed ASAP as to allow maximum time to negotiate any repairs that may be needed. While in the process of buying a home make sure that you speak to your lender before making any large credit driven purchases as this can many times effect the loan near the end especially if the bank calls for a new credit report.
Inspect the Property
Most of the time you will have a 10 day option period to inspect a property. My advice is always have the inspector lined up and ready to go as you end the negotiations so that you can hopefully have them in the house in the first couple days of being under contract. Once the inspector goes through the property they will provide you with a report giving you an over all idea of what the condition of the property is. Talk to your Realtor and let them help to figure out if it looks like you have some items that maybe you should consider or if as a whole the property appears to be sound.
Keys…
Simple as that. Your Realtor and Lender will coordinate with the Title Company for a time for you to come in and sign the papers on your new house. A day or so before closing the Title Company will generate what is called a HUD-1 statement. This outlines all the finances of the deal and will let you know exactly how much the check you will need to bring to closing. Once documents are signed it can take anywhere from an hour to 24 hours to fund. Once funded your new home is yours.
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What is Discounty Realty???
September 4, 2010 By Leave a Comment
The internet has drastically changed the way Real Estate is bought and sold. Before the internet Real Estate Brokers had to invest a lot of capital in order to be correctly set up to market properties. The Real Estate Brokers solely had access to the MLS or Multiple Listings Service and the homes available on it. With the advent of the internet the MLS has be made available 24/7 to the general public.
This has slowly but surely eliminated the necessity the traditional brick and mortar office as well as the large monthly budgets needed to maintain successful print advertising in the local papers and Home Buying magazine. Today most estimates show that over 95% of home buyers go straight to the internet when looking for a home.
In a nutshell <a rel=”nofollow” href=”http://northtexasforsale.com/selling-a-home/” target=”_new”>Discount Realty</a> seeks to pass this savings on to its rightful owner, the home seller. By reducing the listing commission to 4% a good Discount Realtor can provide you with the same kind of marketing and exposure as any large name real estate broker at a great savings. The internet and tech-savvy Realtor can get you the kind of exposure you need at a substantially lower cost and lower investment of time than the Realtor of old.
Just because the these Realtors offer lower commissions does not mean that you will get any more or less service than with an opposing Realtor. Real Estate is an agent by agent business and just because your Realtor works for a big name broker does not guarantee you that you are working with a motivated and educated Realtor. Ultimately you should interview a couple to make sure that you find one that is not only a fit for you, but also is in the business of selling homes and is not just a part time Realtor looking for a second income.
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The internet has drastically changed the way Real Estate is bought and sold. Before the internet Real Estate Brokers had to invest a lot of capital in order to be correctly set up to market properties. The Real Estate Brokers solely had access to the MLS or Multiple Listings Service and the homes available on it. With the advent of the internet the MLS has be made available 24/7 to the general public.
This has slowly but surely eliminated the necessity the traditional brick and mortar office as well as the large monthly budgets needed to maintain successful print advertising in the local papers and Home Buying magazine. Today most estimates show that over 95% of home buyers go straight to the internet when looking for a home.
In a nutshell <a rel=”nofollow” href=”http://northtexasforsale.com/selling-a-home/” target=”_new”>Discount Realty</a> seeks to pass this savings on to its rightful owner, the home seller. By reducing the listing commission to 4% a good Discount Realtor can provide you with the same kind of marketing and exposure as any large name real estate broker at a great savings. The internet and tech-savvy Realtor can get you the kind of exposure you need at a substantially lower cost and lower investment of time than the Realtor of old.
Just because the these Realtors offer lower commissions does not mean that you will get any more or less service than with an opposing Realtor. Real Estate is an agent by agent business and just because your Realtor works for a big name broker does not guarantee you that you are working with a motivated and educated Realtor. Ultimately you should interview a couple to make sure that you find one that is not only a fit for you, but also is in the business of selling homes and is not just a part time Realtor looking for a second income.<a href=”http://EzineArticles.com/?expert=RJ_Avery” target=”_blank” title=”RJ Avery, EzineArticles.com Expert Author”> <img src=”http://EzineArticles.com/featured/images/expert_author_2.png” border=”0″ alt=”RJ Avery, EzineArticles.com Basic Author”> </a>http://ezinearticles.com/?What-Is-Discount-Realty?&id=4949450
Pros & Cons of Selling a House by Owner
September 3, 2010 By Leave a Comment
Selling a Home can be many different things to many different people. From personal properties to inherited properties every home seller definitely has a little bit of work, time and effort ahead of them.
Statistics do show that the vast majority of homes that are sold are done so through a Real Estate Broker in some form or fashion. Of course there are still a good number of transactions that are done privately between buyer and seller only. There are some definite pro’s to being able sell your home without a Realtor and the mass majority of them are the money you save paying the commission. Beyond that I cannot think of any other pro’s to Selling a Home without Representation.
In my opinion definitely put a For Sale By Owner sign in your front yard and just see for a week or two. Especially if you are in a hot area. Realistically there are not that many markets out there that are like this as of right now. After a couple of weeks you will find you get a good number of lookie-lous and many times when you actually get showings they are going to tell you they love it only not to ever call you again. Below you will find some things to consider when selling your home.
1) Non-honest feedback. When showing buyers a home where the seller is present I can immediately see that they buyer is apprehensive about being honest and verbal about the dislikes of the house. I can only imagine that when you personally show your home to some one they are going to be apprehensive to let you know their true thoughts. Realtors about 50% of the time provide feedback on the home and when you do it will normally be honest. An experienced Realtor should easily be able come to your home and be honest about the condition and the market and help you achieve your goal.
2) Pricing. Sitting down with a Realtor is really the best way to get an idea of what homes are selling for in the area. Trusting what neighbors say or what the tax rolls say that your home is worth are not always fool proof methods of pricing, and many times can be a huge mistake for perspective home sellers. Especially in older neighborhoods where the updates and upgrades can vary widely from home to home.
3) Marketing. Any experienced Realtor should be able to come into your home and let you know exactly where you stand against the competition. Today’s Realtor in my opinion has to be all about the internet, as most studies show that upwards of 95% of people go straight to the internet when looking for homes to buy. A good Realtor will market your home on the Web in a viral manner. This basically means that if someone is searching on practically any website for Real Estate and and are looking for a home that matches your criteria they will find your home and all the information about it.
4) Negotiations. An experienced Realtor will guide you through negotiations and provide a level of distance between buyer and seller that keep emotions out of it and also keep all obligations documented and on track.
Definitely call around and interview a few different Realtors because ultimately you could be working with this person for 6 months or more and you definitely want it to be someone that you do not mind talking to. Look into Discount Realtors for listings in your area as many times a motivated independent discount Realtor can provide you great service at a lower haggle free commission rate.
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