Oct
20

Advantages of an Exclusive Property Listing Settlement With Your Real Estate Agent

Property consumers are often uncovered to lesser possibilities than the availability. This is due to the fact of the unwillingness of estate brokers to share the data about unique attributes at their disposal with each individual other. This may perhaps also give issue to the seller due to the fact the property receives uncovered to lesser current market, and it has much less chances of acquiring the greatest doable price tag. The seller is also susceptible to dropping observe of the total method, some thing that can have major ramifications in the upcoming. On the other hand, there is a straightforward nevertheless effective resolution to this issue. And that resides in the formulation of an exclusive listing settlement concerning the realtor and the seller.

How does an exclusive listing settlement weed out the flaws of the latest program? And how does these kinds of an settlement facilitate all the 3 events involved.

  • An exclusive listing settlement operates the two for the seller and the agent. The agent is confident of staying financially rewarded if he sells the property for a better price tag and therefore is more determined to accomplish the very same although the seller is most welcome to any high bids that the agent brings in.
  • By law, an exclusive listing settlement lets the agent to put up a lawn indicator in entrance of the property for sale. Traditionally, 60% of all consumers are captivated to attributes soon after noticing lawn signals. So when a lawn indicator goes up, the seller is confident of a better current market for his property which increases the opportunity of him acquiring a much better deal.
  • Carrying on from the to start with point, if an agent is confident of his economic upcoming with the property, he will also devote more in promotion the property which will of study course bring in more prospective prospects, driving up the demand from customers for the explained property and along with it , the price tag.
  • Through an exclusive listing settlement the property is offered with publicity to other brokers ensuing in the boost of the demand from customers of the property and involvement of more consumers. A much better offering price tag can be accomplished by this method.
  • The exclusive listing settlement retains the property seller involved during all of the stages of the transaction. The agent shares all data with the consumer and guarantees that it goes without the need of any hindrance.

With an exclusive listing settlement the seller and the agent merge into just one staff and collaborate collectively to just one single purpose exacting the optimum price tag of the property. For evident reasons, these kinds of an arrangement is much better than a seller functioning on your own seeking to promote his property although juggling the task with his other everyday pursuits. Group get the job done has often been regarded as more useful. Hence, you are advisable to have an exclusive listing settlement with your real estate agent. …

Oct
20

What Do Manufacturer Touchpoints Mean in Real Estate Agent Internet marketing?

A short while ago, soon after talking to a group of experts in the building business, the nearby distributor of Tyvek handed my colleague his card. Between its several purposes, Tyvek is utilised to wrap structures at building web pages. The card was alone designed from Tyvek, which helps make for a pleasurable, tactile, manufacturer-reinforcing practical experience. I do not doubt that several discussions have began with, “wow – what’ that card designed of?”

A business card is a specific illustration of a manufacturer touchpoint, a spot the place your manufacturer as a real estate agent and your focus on property prospective buyers fulfill.

Seasoned entrepreneurs often say “Every little thing Communicates.” That’ a broad strategy, but manufacturer touchpoints deliver it down to truth. Every little thing, from your business card to your genuine merchandise or provider, says some thing about your manufacturer as a real estate agent – and it’ your task to know what it’ saying.

Powerful entrepreneurs know that they have to be intentional about almost everything that they do. In other terms, you have to make your mind up what you want to identified for just before you manufacturer by yourself. A information is crafted about why you are the very best decision for the property prospective buyers you want to get the job done with. The voice, persona, and appear-and-feel have to be proper. After that, you can convey that information utilizing all of the channels of interaction obtainable.

Individuals channels are your manufacturer touchpoints. They can incorporate advertising, marketing and advertising collateral products, net website and stationery. Individuals are the evident ones. The touchpoints you do not think of, while, are the ones that are very likely lead to you issues. These are items like voicemail messages, telephone way (of everyone who responses the telephone on your behalf) and the look of coworkers, automobile, or place of work.

To expand on this, you want to ensure that just about every of these touchpoints is basically setting up up the “know, like, and have faith in” component with your best clientele. If you want to be identified for currently being very businesslike, then your voicemail really should be really to-the-point and your dress additional advanced. If you want your manufacturer to be additional folksy, then your voicemail can incorporate a additional friendly or inspirational information, and your dress may perhaps be additional informal.

The most vital thing is consistency. You want just about every manufacturer touchpoint to be reinforcing the identical information. Do not allow hidden manufacturer touchpoints damage your real estate agent marketing and advertising. Don’t forget that almost everything communicates. That abrupt voicemail information or dirty automobile could undo a lot of difficult get the job done.

Apr
24

Commercial and Retail Property Leasing – How to Be Pitching for a Landlords Listing

In investment property the landlords that own premises always require leasing assistance. Rarely will they turn down the offer of a genuine tenant at a market rent. For this reason, if you as a real estate agent focus on the control of your market and the tenants that are active or potentially active, you will create more opportunity for listings. Landlords will listen to you. More of your presentations and sale pitches will convert to listings.

Landlords want the best agent when it comes to leasing the vacancies that they have. Your database of enquiry from your local market is foundational to attracting landlords to your leasing services. So if you want to control your leasing market, focus on your database and the enquiry that sits in it.

When you pitch for landlords vacant premises to lease try these rules:

  • Show them the size of your database as a bulky document that they can feel and see. Put it on the table during the presentation or pitch.
  • Talk to the landlord about the recent market rents that have been achieved which other comparable properties in the area. Explain the advantages and differences between gross and net rents as you see it for their premises.
  • Explain what incentives are out in the market to attract tenants in today’s terms. It is likely that your landlord will need guidance or help with the incentive structures and decisions.
  • Make sure you have inspected the property in detail so you can talk to it and the property features around which you will build your inspection and marketing strategies.
  • Identify the target market that will be attracted to the property and just how you will tap into that target market.
  • Explain what the situation is like currently regards the time on market for the leasing of premises. What is the vacancy factor in the area or region that can impact on the landlords leasing requirement?
  • Tell the landlord what you consider to be the essential facts that tenants require in today’s leasing situation
  • Give the landlord an idea of how the best lease could be structured, what the rents are, and how the rents could be improved over time.
  • Talk about the permitted use and the zoning of the premises that will have impact on the future leasing strategy.
  • How do the services and amenities in the property suit the current enquiry for leased premises?

Landlords in this property market need help from agents to find tenants. Rarely will a landlord really have all the resources and solutions available to lease the premises that the local real estate agent has. These 10 facts above will help you show that you are the real estate agent of choice to market the vacancy for the landlord. If the vacancy and property is of high quality, insist on getting an exclusive leasing agency appointment so you can focus your efforts on the market and the premises for at least 8 weeks. If the property has not leased in …

Apr
23

Reverse Mortgages – What Does the Term Principal Limit Mean?

When explaining a reverse mortgage to a senior homeowner, one of the most important terms a reverse mortgage loan officer will discuss is the “Principal Limit.”

What is the Principal Limit and why is it important?

The Principal Limit (PL) is the gross amount of money the lender is willing to lend to the borrower of a Home Equity Conversion Mortgage or HECM reverse mortgage, based on a formula derived from Congressional legislation and implemented by the Department of Housing and Urban Development (HUD) and using the following three criteria: 

  • The lower of the Maximum Claim Limit or the Federal Housing Administration (FHA) appraised value of the home;
  • The age of the youngest borrower (must be 62 or older);
  • The current expected interest rate (based on the current 10 year London Interbank Offered Rate, or LIBOR rate, plus a stated margin for the adjustable rate HECM and based on the current fixed interest rate for the fixed rate reverse mortgage).

The three listed criteria affect the PL in the following ways:

  • The higher the value of the home (up to the maximum claim limit of $625,500) the higher the amount of the PL will be;
  • The older the youngest borrower (age is always based on the youngest borrower’s age, not a blending of multiple borrowers’ ages) the higher the amount of the PL will be;
  • And, conversely, the higher the current expected interest rate, the lower the amount of the PL will be.

The reason potential borrowers should become familiar with the term Principal Limit and what it means is because it is from this cash figure that all fees and set asides will be subtracted in order to arrive at the maximum cash or loan proceeds available to the borrower.

Congress Plans to Lower the Principal Limit

Congress lowered the Principal Limit for the fiscal year 2010 signifantly to make up for a perceived budget shortfall of approximately $798 million for HECM reverse mortgages put in place within that fiscal year. HUD has announced that for the fiscal year 2011 there will likely be decreases in the Principal Limit as well. The 2011 year begins in October 2010 for budgetary purposes.

 Until the budget bill has made it through the joint Senate and House committee, been voted on and signed, we do not know what the exact amount of the cut in the principal limit will be. Senior homeowners who have investigated HECM reverse mortgages prior to October 1, 2010 should contact a reverse mortgage lender to learn how the decreases in Principal Limits could impact  them personally if they pursue a reverse mortgage.

Apr
22

The Difference Between Industrial, Retail and Commercial Real Estate

Before we answer this question, it might be helpful to actually define each term first.

Retail and industrial are both considered ‘commercial real estate’ (as opposed to ‘residential real estate’). Commercial real estate refers to buildings or land intended to generate profit; industrial and retail are simply sub-categories of commercial real estate.

Firstly an industrial property is defined as a property used for the actual manufacturing of something, and can be considered either a factory or plant. This is usually zoned for light, medium or heavy industry. This includes things such as warehouses, garages and distribution centers etc.

Retail property is a commercially zoned property used solely for business purposes, the actual selling of the product, rather than its manufacture – retail stores, malls, shopping centers and shops all huddling nicely under the retail umbrella.

Generally, businesses that occupy commercial real estate often lease the space. An investor usually owns the building and collects rent from each business that operates there.

There are four primary types of commercial real estate leases, each requiring different levels of responsibility from the landlord and the tenant.

Single net lease – tenant is responsible for paying rent and property taxes.

Double net lease – tenant is responsible for paying rent, property taxes and insurance.

Triple net lease – tenant is responsible for paying rent, property taxes, insurance and maintenance.

Gross lease – tenant is responsible only for rent; the Landlord pays property taxes, insurance and maintenance.

If you find yourself considering Commercial property ownership, there are a few things that you would do well to keep in mind:

1) Attractive appearance – the last thing you need is a vacant commercial property in Sydney for any length of time. Think how prospective tenants think: what will their customers want to see?

2) Aesthetic entrance – first impressions count, simple, simple stuff. This is a great tool for putting your prospective clients in a great frame of mind… and their clients.

3) Natural Light – in especially high demand nowadays

4) Location – close to other offices, public amenities, transportation etc.

Since 1980, retail property has returned an average of 9%, though is currently returning around 6%. Industrial real estate tends to be the most volatile, and is currently returning around 7% (as opposed to its peak of around 12% during the 1990’s recession).

And obviously, no matter which form of commercial property you’re considering, read the lease carefully. Sounds like a silly thing to say, but you’d be very surprised at the issues that can become issues simply because things weren’t read properly!

Apr
21

Gain Best Deal in Selling Your Siesta Key Real Estate Property

Did your company ask you to relocate since you were assigned to work in a new city? If that is the case, you need to sell your home in Siesta Key real estate market in order for you to have money for your move and relocation.

Selling a home comes with lots of preparation, time, effort and patience to come up with the best deal ever. No doubt, you would want to have the best deal in selling your home, so you have to prepare your home properly before advertising it for sale. But before you do some advertisement strategy you should be preparing your home for a make over.

Making over your home is the first step before selling your home. You should start with the outside appearance of your house by painting it and make it look like brand new. This will make your home attractive to those who pass by your home. Having an eye catching appearance will really a good start in selling a home. So even without saying any word the appearance of your home will talk for itself that it is beautiful.

Aside from painting your home, you should take into consideration doing a general cleaning inside your home, put things in proper place and take away those things that are unpleasant to the eye. Clean roof and flooring and remove stains if any. Remove personal attachment to your home by taking away those things that identify your personality, so that, if a prospect buyer came to visit your home they can easily imagine themselves owning the houses.

After preparing your house, be prepare for unexpected visit from prospect buyers. Answer all questions as possible and respond as quickly as you can so that buyers won’t have any doubt in buying your home. A big house for sale streamer in front of your house is a good way of advertising your home. So that passers by can have an idea that you are selling your home. If you really want to sell your home in a faster way, you can pay a local newspaper to advertise your home for home for sale section. Giving away flyers in a crowded place is also a good idea in marketing your home.

But if you don’t have any idea on this kind of business, you can ask real estate agent to help you in selling your home. Real estate agents are usually the people who have a lot of experience with regard with selling and advertising your home. Usually they have a list of prospect buyers that can give you great offer. But you should not be too complacent in selling your home; you should be patient enough so that you can get good deal in selling your home.

But in case that you have done everything in selling your home, you should consider lowering the price but make sure that it is appropriate to all the expenses that you have made in doing a make over …

Apr
20

How to Get Rich Buying Real Estate From Your Parents With No Money Down and No Credit

You can get rich from the equity appreciation of real estate by buying property from your parents using traditional or creative financing that may or may not require a down payment or credit. Whether you are a first-time home buyer or an experienced investor, you can buy any type of property from your parents from a home you live in with them to an investment property you rent out to tenants. The following lists some reasons why you may find it faster, easier and financially more lucrative to buy from your parents than anyone else.

You Don’t Have to Buy an Entire Property

When you buy from your parents, you can purchase any percentage you want like 10%, 50% or 75%. If you pay less-than-full price, you will have lower mortgage payments and buying a house is more affordable. Regardless of what percentage you own, you still get the benefits of home ownership such as equity appreciation, mortgage interest deductions, property tax deductions and capital gains tax exclusions.

You Can Share the Responsibility with Your Parents

When you buy a partial interest in a property, you and your parents share the responsibility of owning it including the mortgages you each carry, the property taxes, homeowners insurance or homeowners association dues, and maintenance. Because you have more than one person responsible for a property, you can rely on each other for financial strength in the event of hardship.

You Can Elevate Your Status From Renter to Owner

Are you already living at home rent-free or paying rent? Is so, why not buy into your parents’ house, since you already live there, and get an equity stake in their property? Then, you are no longer living with your parents but living in your house that you own with your parents. If your parents have more than one property, you can buy into one of their secondary or investment properties and live on your own.

You Don’t Have to Get a Loan From a Bank

When you buy from your parents, you don’t have to qualify for a loan from a traditional lender such as a bank which has income, asset and credit requirements because your parents can act as a bank and give you seller financing for your purchases.

You Can Create Your Own Home Loan

When your parents act as a bank, you can get favorable loan terms by structuring your own payment schedule with a manageable loan amount, lower-than-market interest rate and repayment term of your choice.

You Don’t Need a Down Payment

Unlike getting financing from a bank which has down payment requirements, you can buy from your parents with no money down.

You May Get Property Tax Benefits

Depending on the state you live in, your property taxes may not be reassessed at current values when you buy from your parents or grandparents because of a parent-child and grandparent to grandchild property tax reassessment exclusion. This is a huge benefit when parents and grandparents have had ownership for …

Apr
19

Buying a Home Faster Than Your Competition – 6 Secrets to Winning the Offer Race

Some frustrated home buyers are being shut out of today’s real estate market because other buyers always seem to get there first. They want to buy. They’re qualified to buy. But by the time they can make an offer, it seems someone else has gotten there first.

Here’s an example from a question someone recently asked:

There have been about 16 properties overall that my agent and I viewed or I was very interested in. I am beginning to feel that either the agents, banks or whoever is on some kind of inside knowledge. As sometimes I maybe on the way to look at a property that was just listed. Then I would get a call from my agent that it just went under contract… I look at about 6 to 7 sites daily, and she does her part but I am on a deadline. But even today, I saw a home that was just listed, and then she calls back and say that it was under contract. It makes no sense, She says that it went under contract May 4th, and it was listed May 3rd, but it was not even shown on the MLS, or any of the sites until today. What gives? It’s like someone call their friend before it’s listed, and they have the inside knowledge. It’s really frustrating.

Does some of that sound familiar? Here’s how I answered, offering some insider tips on how to get there before the competition:

The first clue something was wrong is that the question asked on May 24. However, the would-be buyer said the house was listed May 3 “but it was not even shown on the MLS… until today.” There’s something seriously wrong there. (The MLS is the “multiple listing service,” an online database agents use to list homes.) Most MLS systems (probably all – it’s a nationwide collection of local systems) have regulations on posting listings quickly. There shouldn’t be a 3-week lag between an agent taking a listing and posting it on the MLS. If that happens to you, ask your Realtor to look into that. Either it wasn’t really listed on the 3rd, or it appeared way before the 24th. There shouldn’t be a 3-week lag. My guess: It was listed on the 3rd, but the sites the buyer was looking at didn’t show it until the 24th. Solution: Use the right sites.

Keep reading to find out which ones they are.

Second, I asked the buyer why she was looking on 6-7 sites daily. It’s only necessary to use one – any one that is connected to the MLS. Your local Realtor probably will have a link on his or her site to search the MLS. Or for anywhere in the country, go to http://www.Realtor.com. There are many other sites – Zillow and Trulia, for example – but they receive the same feeds you can find on the official MLS sites, only with some delay. And there IS a lag between the time …

Apr
18

Advantages of Wix Website Builder

Wix is a low cost website builder that has been making a real splash amongst would-be entrepreneurs who find that creating a marketing website is easier than they ever imagined. There are approximately 200 readymade templates available to choose from while those with a more artistic frame of mind can start from scratch and build their own personal masterpiece. The templates vary and can be categorized into Business, eCommerce, Real Estate, Music, Personal and many more niches besides. Initial loading takes just a few seconds and it is possible to create a website in minutes. We take a look at the many advantages of Wix to help you understand its usefulness.

The Many Benefits Of Wix Website Builder

• Cost Effective: You can try before you buy and although the free version has numerous limitations, you do get to see the reasons why Wix is a suitable website builder for your business. The most basic plan costs around $4 a month if you go for an annual package while the monthly plan can be yours for around $5 a month. Even the most expensive monthly plan is relatively cheap at $20 a month and includes free hosting, substantial bandwidth and premium support.

• Ease of Use: As we’ve already mentioned, there are more than 200 templates available and this can help eliminate any confusion you may have over what you want your website to look like. Editing your Wix website is incredibly easy because it is so intuitive and no coding knowledge is required.

• Easy Integration: Wix allows you to add a number of third party tools such as Google Analytics without compromising usability.

• Keyword Optimization: Without adequate focus on SEO, even the most stylish website will be ignored as the search engines will not see it and search users will not find it. Wix enables you to add keywords and assorted meta data to help make your site more visible to search engine spiders. Don’t allow the hard work you put into designing your website go to waste!

• Difficulty Levels: Wix has managed to improve its already impressive usability by rating each flash template it provides according to its difficulty level. Those with little experience of building a website are advised to stick to beginner level while those who are more technologically savvy can look at the more advanced templates. This ensures that Wix has options for all skill levels.

• Updates: Adding content updates can be a real pain but Wix takes this stress away by making the process of editing, updating or adding content a walk in the park. The user interface is far from complex so it is easy to navigate the site and add or delete content as you see fit.

In the end, Wix website builder is one of the best options out there for those looking to increase their visibility online. Even raw beginners to the world of website creation can quickly create a sharp, professional looking site in minutes.…

Apr
17

Real Estate Agent Assistant Agreement

Using an assistant agreement is vital when hiring a real estate assistant. It should describe the working relationship between you and the assistant. The first thing you should consider is whether he or she is an employee or working as an independent contractor. If you choose to have an employee you have to deduct taxes, social security and unemployment insurance from their pay. This involves a lot of record keeping on your part plus the added expenses you incur by having an employee…

So after consideration most agents that hire assistants choose the independent contractor status. You do not have to do any of the withholding. You just have to provide a 1099 form. There is no salary only a commission or fee as payment or services rendered payment. This fee will also be deductible on your taxes as an expense.. It would be wise to check with your accountant to see how to handle the payment schedule.

You should hire an assistant that has an active real estate license because if they don’t have one it will limit them to doing only what an unlicensed person can do. This will make a very big difference because there are many tasks that need a licensed agent to perform. Some of the requirements you should consider when interviewing an assistant would be having computer skills in programs such as Microsoft word, excel or comparable programs. If they don’t have a laptop computer you may have to provide one. Although it’s an expense the investment will prove well worth it.

Let’s talk about what else an agreement should do.

  • Define the work hours
  • Define commission or payment services
  • Explain what duties you expect from an assistant
  • Assist with showings
  • Assist with market value reports
  • Go on market value report appointments with you
  • Set Appointments
  • Do open houses
  • Record keeping
  • Mailings
  • Hand out flyers
  • Place signs for open houses
  • Make phone calls on your behalf
  • Prospecting for new business
  • Review the daily updates on the MLS
  • Preview new listings
  • Meet all of your clients and customers
  • A team player attitude

You must determine a payment schedule of how much, when and how often the assistant should expect payment. Your business growth should have a direct effect on commission increases for the assistant. A confidentially clause is important to have in your agreement. The assistant must know that what goes on between both of you stays confidential. Having this all on paper will set the guidelines. Your assistant will know their job description and their duties.. A real estate assistant agreement should protect both parties.

Apr
16

Real Estate Investing Basics – Choose Your Neighbor Marketing

A very effective, yet often overlooked method of marketing both your rentals and your houses for sale is door to door flyers in the neighborhood of your property. Residents who live near your property are likely to know someone – a friend, colleague or family member in the market for housing that they can pass your flyer on to. You may also attract the direct attention of a neighbor who is ready to buy or move up/down in their housing.

If you are local and don’t mind running around the neighborhood yourself, this method will only cost you a few hours plus the cost of printing. If you’re not available for the distribution, or just have better things to do, paying someone to distribute flyers is very cheap and incredibly cost effective if it results in a sale or a qualified tenant placement. Just remember to do a quick drive through of the neighborhood to ensure the flyers have been distributed if you’re paying someone to do it.

As for the content of the flyer, it’s worth it to take some quality photographs of the interior and exterior of the home. If your main selling point is the quality of the property, be sure to feature these in full color along with some of the basic specs of the home. If you are advertising a rent to own that’s a really great deal, make sure your analysis of the numbers is prominent and easily understood. Also, be sure to emphasize that this property is in their neighborhood and that this is an opportunity for them to choose their new neighbor. Lastly, don’t forget to include full contact information: your telephone number, fax number, email address and 24 hour recorded information line if you have one.

A more expensive variation of this method is to use direct mail to target your property’s neighborhood. Again, you’ll want to tailor your marketing message to let them know that this is their chance to mold the neighborhood by helping to select the new neighbors. To maximize your exposure, try using both flyer and direct mail distribution methods, timed several weeks apart to make sure that as many neighbors as possible get your message that you have a great property for sale or rent in their neighborhood.

Apr
15

Real Estate Leads – How To Get Free Real Estate Agent Leads

Real estate leads are vital to any agent or brokers business. Home sale and home buyer leads have always been an important part of keeping a real estate business moving forward. With the advent of the internet and more than 80-percent of home buyers going on-line to look for their next home, internet leads are one of the most important marketing avenues realtors and brokers need to be using to increase their listings and income.

What many real estate agents don’t know is that there are a handful of real estate lead generation companies that generate the majority of leads on the internet. In fact they generate so many leads that they don’t have enough real estate professionals to sell them to. In order to help the home buyer or seller who went to the businesses website the lead generation companies have been giving the leads away for free, at least no up-front cost.

To get the free leads the real estate agent has to agree to pay a referral for any closed translation. The reason many agents don’t know about these leads is because only one or two of the large on-line lead generation companies offer this free referral service because it requires them to have a licensed broker within the company.

These business leads are very helpful for a realtor starting in the business or a broker who has multiple agents under them. Also, agents who want to increase their marketing and number of closings each month can use these leads to increase their business. Typically the lead generation company wants 1 to 2 years of experience representing home buyers or home sellers but if they don’t have any agents in your area then they will most likely take any agent. For home seller leads it is helpful if the agents have a network of investors who can buy houses fast. Many home sellers who go on-line and complete home seller forms need to sell a home quickly for many reasons. Some have large amounts of equity which allows them to sell price their home for a quick sale. Others are behind on their mortgage and would love to have an investor buy their home so they don’t lose it to foreclosure.

If you are a broker or realtor and looking to increase your business I suggest signing up with one of the lead generation companies who offers a no cost real estate referral program. Typically these companies do not charge you any sign-up fee, monthly fees or cancellation fees, just a fee for closed transactions.