Consider These Before Going FSBO

You might think selling your house by yourself will save money, time, and effort, but if you lack the skills and experience, it could instantly turn into a a time and effort waster. Read the points in this article and allow me to make you think again.

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Before going into real estate, I was watching property selling and house hunting shows like it was my favorite hobby of all time. I enjoyed seeing the different styles of houses and their ideal locations. And those makeover and renovation shows was like Cinderella being transformed by her fairy godmother – magical! So you are probably thinking home selling would be a simple fairy tale story too, but, let’s do a reality check.

Time, precious time

A real estate transaction takes time, particularly because the process does have a good number of steps that cannot be skipped; from checking the resale price of your house, looking for potential buyers, getting that first offer, going through inspections, to opening of title and escrow to closing and handling of keys. Trust me, these are just a few steps. Take time to think about the know-how needed for your real estate transaction to be smooth and successful, are you sure that you are familiar with every step?

Marketing

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It is not at all similar to selling your car where you can post it on your Facebook page or Craigslist or passing it on by word of mouth. No matter how many posts your house has on social media, or fliers you distribute, that does not guarantee that you would get a definite buyer. Strategic marketing does work, there is a science behind it. People fail to step back and learn before selling. A few terms that you should be familiar with are search engine optimization or SEO, lead generation (to get potential buyers) and social media marketing. Learn those to get at least your foot inside the door.

Resale Value

Another critical thing is your home’s resale value – it is not always safe to start with the cost of your house when you bought it, and adding all the renovations or improvements that you did. What is the real basis of pricing your home? Get help for an educated opinion, even an analysis – getting the right price at that time for your home means the buyer and their agent would most likely accept the price of your property’s listing. Home sellers also do need to take more time to observe their neighborhood and locality. Is your home’s location desirable in terms of accessibility and safety? Take a good look around your property again and make sure to be ready for that inspection. Notice every nook and cranny because you have to consider inspections that will be done on your home. A refreshed property will greatly help in getting it sold quickly.

The point is, don’t rush and jump into something you are not entirely familiar with. Get the knowledge and tools. Keep in mind that in everything, preparation is key. Read, read, read. Watch Youtube videos for tips and tricks. Here’s a good link to help you in a FSBO transaction, a YouTube video from Zillow:

 

Your Home’s Powers of Attraction

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Do you know your home’s true value? If you’re trying to sell your house, make sure to know how attractive it is in the market. Here are some points to consider to get that bang for your buck when selling your home.

Just like a restaurant or any retail business, the positioning of your property is vital. Urbanization is a fast growing trend; where there are homes, restaurants will surely be near, so will shopping malls, supermarkets, schools and hospitals. Check the accessibility of your neighborhood. Most of the time, people would want a home where resources are just around the corner. Peace and safety is also a selling point to your property. You might want to check how crowded, noisy, or busy your neighborhood is, and what is in your town or city’s news about the place.

Keep it fresh and hot!

You need to be in-the-know; what’s hot and what’s not in home design? Take a good look at your home and know its interior and exterior design. In that way, you will be able to have an idea what kind of buyer your property can attract.

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If it turns out that your home is not within the current trend, maybe it’s time to do some redesigning or redecorating, or even renovating! Check every nook and cranny, you have to be prepared for those inspections. After all, no one wants a house that is not maintained properly.

Reach out to your real estate friends for consultation! They are the experts!

Last and definitely not the least valuable advice, it is always good to reach out. Talk to your real estate agent friends or family! Stretch out an arm and ask for not just any opinion, an expert’s opinion! Brokers would be able to give you not only an educated view about your home’s reselling value, you can also ask for an analysis. Keep an open mind and welcome their questions and be accurate with your answers regarding your home. Talk to them and discuss your plans in reselling. Talking about planning, here’s a thought that I would like to end this article:

Anything that you buy should be an asset and not a liability. Remember your first car? It’s probably sitting in a junk yard somewhere. Sure you had some memorable moments with it, your first road trip, your first date, but the money that was spent was just that, poof! Gone. How about your home? Needless to say, a house is a bigger risk than a car because of the larger amount of money put into it. A house is all the more reason that you have to make it a bigger investment.

You should always think forward when letting go of your hard-earned money. Think about it, is this investment of a home going to make you more money in the long run? When buying a house, one should think past, present, and future: How was your experience with the house you bought or rented before your current home? What are your reasons for selling or buying a home now and your current priorities? How long do you see yourself living in your current house and what about your family? Planning is always the first step before doing. Before deciding to sell, take a moment to think.

The REAL in Realtor

When we hear ‘real estate broker’ or ‘property agent’, we think ‘selling homes’. As made popular by reality shows such as Million Dollar Listings and Selling New York, these agents are shown as stylish, glamorous, and even living the lavish lifestyle. In reality, that is not the case all the time. Let’s take a glimpse at how it really is to be a real estate agent.

© 2007 Aaron “tango” Tang, Flickr | CC-BY | via Wylio

Real estate is one of the economy’s top industries but it is not always synonymous to sales or making big bucks. Of course, just like any industry, we have to think economics, and the business of real estate is not an exception to some low times in the market. Also, not all properties are easy to sell. Commissions are not fixed, and a real estate transaction takes weeks or even months to close. After going through getting a real estate license, every agent has to start their business from scratch. Now all of these things mentioned may seem tedious, but the fact is, the number of property agents over the last few years have been steadily increasing, so these people are definitely in it for a lot of good reasons.

Brokers also have times where they sit down at their desk and handle paperwork – lots of it. Getting a license for real estate is no joke; each step in a real estate transaction is crucial. A real estate transaction involves legal parties, and everything has to be in black and white. That being said, documentation needs to be accurate and secretaries and assistants in the industry have become indispensable to have if one is a broker. They save time and effort in doing administrative tasks. But of course, brokers need to sit down on a desk to be on top of everything.

It’s exciting and never boring!

A lot of parties are involved in a single real estate transaction: the buyer, seller, contractors, the lender, the title and escrow company, home designers, landscapers, carpenters, and let us not forget potential leads! Interaction is the name of the game; socializing in person and even online using social media make a real estate agent’s day fun and eventful. They are always on their feet, whether it’s attending neighborhood tours, learning trends and the latest tools in seminars, or showing properties. Marketing also boosts their creativity in different ways. This type of business never gets old!

Get out of the old door to door salesperson concept!

There is such a thing that every person agrees on, a certain feeling that is shared by everyone. When there is an elderly woman who is trying to cross the street but the weight of her grocery bags make it difficult for her and you carry the bags for her, it never fails to give you that warm, fuzzy feeling, knowing that you have eased the difficulty. It always feels good to help someone. That is what property agents do every day, and they even get paid to do it. They listen to what their client wants and needs out of a transaction and do their best, they dedicate their time and energy to close that deal properly. They do not just market and sell like salesmen in the old days. So if you want to help someone achieve their dream home or help someone to sell their house, along with all the interaction and exciting activities, you might want to look into being a real estate agent.

 

Home Selling in a Jiffy

Selling your house is a typically a long process but here are some tips to do it efficiently.

Get organized!

Organize your thoughts. What is the purpose of selling your home? What do you need to get from selling your home? Do some research about the home selling process, of course we have to know what we’re getting into before we dive into anything, especially that this is a property that we are dealing with. Take down these ideas along with a checklist of the things that need to be done and create a timeline for it. Make sure that the schedule for the tasks is balanced with your everyday life.

Take advantage of technology!

People are becoming more and more dependent on the Internet. It is the most convenient way of getting information. It is very easy and fast to update, so we are sure we are getting the most recent news about anything and everything that we need to know, as long as we use the Internet wisely. Know the ins and outs of real estate, particularly selling a house, know the best websites to get this information. Some websites to check out are:

http://www.realestatereference.com/real_estate_articles.php

http://www.realtor.com/data-portal/realestatestatistics/

Most buyers, even just the people who think of buying a house, rely on the Internet because everything is readily available. Online listings are comprehensive tools of the trade that everyone can check out and use, so make sure that you make the most out of it.

Maximize your real estate agent!

Earning commission is not the be-all and end-all of all real estate agents. The basic task of a real estate agent is to give assistance. They’re there to help home owners through all the steps in a real estate transaction. They’re trained and licensed to handle these important dealings and paperwork to make sure that everything goes seamlessly without issues. Since they are the experts, they already have invested time and have garnered a lot of experience to work like a machine in dealing with home selling.

 

 

Estate Agent: Providing Service With a Smile

As long as you’re working with people or for people, customer service plays a great role. The keyword of customer service is ‘care’. Caring begins with communication. In real estate, there is mainly interaction with contractors, lenders, not only the client. Proper communication goes a long way. Politeness and aiming to have that good connection with the people we work with, or for, allows the real estate transaction to go smoothly.

The first step in customer service is the first impression that a real estate agent makes on the potential client. It’s not the first time that the potential client hears the voice of an agent over the phone, or the handshake when they meet, it begins when the client sees the agent’s website, listing, or online profile, or when the potential client sees a print information of the broker or brokerage. It starts with the image that the broker gives to the potential client. The branding is key. In this light, first impressions do last. Any client or customer from any business would prefer assistance from someone who smiles, appears approachable and knowledgeable.

Now the home owner or home buyer feels comfortable about this real estate agent because of the first impression he made, and has decided to work with him. The next step for a real estate agent is to know exactly what the client wants and needs. This is where ‘service’ really comes to play. It is all about listening to the client and acknowledging the specific details in the offer the client wants, or what the client is looking for in a property. Moreover, understanding the client’s situation is essential. What is the client’s purpose of selling or buying a home? Knowing these things leads the real estate agent towards giving assistance, or service, that the client needs on the real estate transaction.

To be a successful real estate agent giving excellent customer service, here’s a great article to read: http://blog.zurple.com/5-golden-rules-of-excellent-real-estate-customer-service

Protecting Your Humble Abode

Your home is an asset, an investment. It is where you spend valuable time with your loved ones. It is where you rest from a hard day’s work. You worked hard in order to get the home you’ve always wanted and dreamed about. Of course, you have to safeguard it or else you will lose it! But there are so many policies to choose from, it can be a challenge to select the right one for your property. What kind of protecting does your property need?

Firstly, let’s look at the definition of homeowner’s insurance according to http://www.thesimpledollar.com/home-insurance-guide/ . In this way we have a better understanding of the insurance for your home.

“To begin, homeowners insurance, sometimes referred to as “hazard insurance” or simply “home insurance,” is property insurance designed to cover private homes and their contents.”

Secondly, know your property. We have to know what kind of coverage is needed. The most basic thing is to know the status of the home. Go outside and check the structure of your house. Observe the exterior and the interior of your home. What needs repair? Get to know the facts. When was your house built? Also, observe the environment of your home. Are you living along a fault line? Have there been any floods recently in your area? We have to know the risks of the place your house is in. Take down notes and read over it when you canvas for an insurance policy.

Lastly, in case anything happens in your house, make sure it is well-documented. Take pictures, get witnesses (like your neighbors) if a tree falls on your roof, for example. If you are just moving in to a home, make sure the inspection is accurate and complete. Everything has to be in writing before you sign any contract before the transaction is complete.

For further understanding of home insurance, Nerd Wallet has a nice article on finding the best insurance for your property:

https://www.nerdwallet.com/blog/insurance/find-homeowners-insurance/

             Protect your home unlike this tree that fell down. Photo by Dasya Fortes 2014

 

Home Buying and Selling: False Concepts

This article discusses two controversial topics about owning or selling a house.

1. You can sell a house on your own

Buying a house is like shopping for a car, or a home entertainment center. Selling a house is pretty, easy too. Yes, it is definitely true that anyone is capable of selling their property or buying a house on their own, but be prepared to handle the whole process of a real estate transaction: enlisting your property, looking for the perfect home for you and your family, all the paperwork, the critical legalities, getting approved for a loan if needed, the home inspection, and so on. Make sure to have the tools of the trade for this process. A great advice would be to find an expert to assist you in finding a home or getting a good offer for your property.

2. Condos and townhouses don’t have privacy

First of all, let’s define a condo and a townhouse. A condo or condominium is a unit of property that is personally possessed or owned by an individual/s, usually in a residential high-rise building. Condos are more prevalent in urban areas. A townhouse is an apartment or a house in a series, or in a row, of adjacent houses that is also personally possessed or owned by an individual/s.

Because of the physical location of a condo or a townhouse, people often think that they will have to sacrifice privacy if they move in to such a property. Some people consider to live in such places because it is less expensive and requires less maintenance than owning a house.  With regard to privacy, I say it just takes a bit of research. Take time to go on the Internet or visit the property itself. Check what kind of wall lean towards soundproofing; is it a cement wall or not? Is the property on a busy street? What time do you usually spend inside your house? Some people work nights and might want to have an environment or neighborhood that is quiet during the daytime.  What type of people live in the property? These are some of the things that one has to consider so one does not have to let go of privacy for the sake of price.

Being Strong is Needing Help from A Realtor

You have been saving for a while now, making little sacrifices here and there, not booking that dream vacation in a luxury resort in Cancun or Riviera Maya, because you are holding off for your dream home. What could be more luxurious than coming from work to a home of your desires? You may not need that dream vacation after all.

As everyone is inclined to do in these present times, you tend to think twice before spending. So you stop and ponder if paying to get assistance from an expert on homes is a good idea. You say, hey, it seems like a tough job but I have come this far so I am strong and I can do things on my own!

Yes, we all are capable of doing things, but money is not the only thing of value. Our time is also valuable. We have jobs, we have families, we have lives to live. Admit it, we do not have time to look for a buyer or, in this case, a seller of our dream home. If we do, it will take us a considerably long time to get a lead, or get someone who has the type of house that we want, in a location that we dream of.  That is just the tip of the iceberg, we have a long way to go to start or even finish a real estate transaction. We will end up being in a weak position as this business of houses is not something we are trained for. We have to keep our game strong, keep our time where we must spend it. We have to get the best in the real estate business, and these are land brokers, or simply real estate agents. After all the smooth transactions and critical paperwork has been done by your agent, you will definitely realize that they are worth the time and money.

You won’t need to go far to get a vacation with a nice beach view like this if you have your own luxurious home to go to. Picture taken by Dasya Fortes 2013.

Growing Trends in the Business of Houses

Here are two ideas that I think people are often interested in, but have not yet reached the mainstream yet.

Tiny houses

Who does not like cute? With the internet trend of cats and other furry creatures growing fast, so does ‘cute’ houses. I’ve seen these mini homes all over the Internet, particularly in social media, garnering likes and comments because they are really interesting as they are something very unique, and everyone wants to be unique, right? Not only that, nowadays people are becoming more and more practical. Getting value for your buck, in this case, getting more function for your space, is necessary. How much one can do in a square foot or two is worth a great deal. In a little home, a living area, kitchen, bathroom, and an eating area should fit 1,000 square foot of space. Now that is value indeed for what one has. The world is not getting any bigger and we have to maximize the limited space we have.

Sustainability

Sustainability is easily apparent to tiny houses, since the concept of little homes stretches the capability of limited land space. It is a start of making more value to what we have. Sustainability is all about that. If we maximize the land we have, the more land we have to be used for other purposes. There is less digging and changing landscapes, or less trees being cut down. Sustainability is basically taking care of earth. It is a finite resource. Sooner or later we will run out of energy, and raw materials.  More and more people are realizing this and turning into alternative sources of energy such as solar and wind types. Reusing and recycling are getting more sophisticated as we have more trash than we can handle, why not make them into something useful again?

My inspiration for this topic is a Facebook page about innovative ideas: https://www.facebook.com/Inhabitat/

and what I always catch on TV, a show about people looking for tiny houses in HGTV: http://www.hgtv.com/shows/tiny-house-hunters

This could be a cool tiny house concept, but it’s actually a room in a beach resort in Surigao, Philippines. This picture was taken October 2015 by Dasya Fortes