|Posted by Park Place Realty Network on August 9, 2019 at 4:00 PM||comments (0)|
The moment you decide to buy or sell a house, you're entering a process full of decisions. One of them is certainly choosing the right real estate agent. Luckily, every effort you make on that account will pay off in the end. To find an experienced, knowledgeable and dedicated real estate agent is more than half of the work. To assist you in the process of selection, we have selected the most important questions to ask your real estate agent before and after you commit.
First, you need to find a reputable real estate agent in your locale. You can ask people you trust for a recommendation or look for a reputable real estate agent online. Many real estate agents have websites and/or blogs and you can find their reviews online, too. No matter how you find and get in touch with your agent, it is important to ask him/her the right questions. There are topics you should discuss before you choose the agent and those you should inquire about later. We have split those topics into three general categories: questions about the real estate agent, about the house, and about the buying/selling process itself.
What should you know about your real estate agent?
The first thing you should inquire about is if the agent has a real estate license and then ask to see it. You need to make certain that your agent is an accredited professional and avoid real estate scams. After that, you should ask to see their references, though most agents will bring a list to the meeting or have their references online.
Once that is clear, it would be good to know how long the real estate agent has been in the business. There is nothing wrong about contracting a fairly inexperienced agent, though. Most of them have learned from seasoned colleagues and are eager to dedicate themselves to your case.
Furthermore, it is important to inquire about the agent's average list-to-sale ratio because it shows if the homes are selling for more or less than the listing price. With this in mind, note that buyers and sellers look for a different answer. This also leads to another question: is the real estate agent working mostly with buyers or sellers. Buyers would appreciate a real estate agent able to negotiate a lower asking price, which leads to a ratio lower than 100%. On the other hand, sellers would prefer to sell as close to the asking price as possible, making the real estate agent's ratio close or equal to 100%.
It is in your best interest to sell or buy a home quickly, so ask how long the real estate agent's listings sit on the market on average. If the time is unusually long, a reputable real estate agent should be able to explain it. Before you shake hands with your real estate agent, make sure you check what his/her commission fees are and how to pay him/her.
Which questions to ask your real estate agent about buying/selling?
Check if you can review the documents before you sign them and inquire about guarantees. You should know if you can cancel the deal at any time without any penalties. Once you choose your real estate agent, you should move on to inquiries about the path ahead of you. Ask the agent to explain the process of buying/selling your home from beginning to closure. It would help you greatly to know the schedule and some key points, especially if you sell and then buy a house. You might need to arrange for a moving company like City Movers to pack and move your furniture in the meantime, so learning about timeline is vital.
You would certainly want to hear about updates as soon as possible. What is the best way to communicate with your real estate agent should be one of the first things to settle. Your agent should be available at reasonable times and answer your calls, messages or emails. Likewise, you should ask if you'd work with the same real estate agent or a team of agents. If the latter is the case, meet them all and make sure you have a primary point of contact. Additionally, you should ask to see CMA (Comparative Market Analysis) and learn from the agent's report about the situation on the market.
What should you ask about the property you're buying/selling?
How to work with your real estate agent if you are a seller? You would want to know what price will sell your house and you better trust your real estate agent's word on it. Overpricing your home will lead you nowhere and it's in everybody's best interest to be realistic. That question leads to a similar one: which feature will sell the home? You might need to repair or adapt a part of the house. While you're at it, ask if there's anything you can do to get your home ready for showings. Also, inquire about their marketing strategy. They should have a plan already.
If you're a buyer, you should be interested to know why the current owners are selling the house. Are there any significant flaws? Is the neighborhood noisy? There are things you can't notice during your first or only visit. Ask your real estate agent if there are any seller disclosures if they don't mention it first. That further points to questions about maintenance costs. You should ask how many owners the house has had until now. The fewer, the better, maintenance-wise. Furthermore, you should inquire about property taxes in the area.
Do you have any other questions?
Don't be afraid to ask your real estate agent ’’Is there anything important that I forgot?’’ If you have chosen well, your agent will give you an honest and lengthy answer. The most important thing is to feel comfortable around your real estate agent and free to ask questions. Remember that you are partners in this endeavor, so maybe you should ask how you can best work together.
Or, have a company like Park Place Realty Network set you up with a top real estate agent in your market that will pay you back 15% of their total commission. Get more details here.
Written By: Lisa Robert with US Moving Experts
|Posted by Park Place Realty Network on August 6, 2019 at 5:30 PM||comments (0)|
Question: Since your company is not a Realtor member, would I be required to still pay my board/MLS dues? Can I sell full-time with you all in Florida?
Asked by: Mary Sanders
Expert Reply: Hi Mary, you're correct, we are not members of the Board of Realtors of the MLS. This is how we are able to get around our current active agents from being required to pay those annual fees of $1,000+. But, we are not a full time company and are strictly a real estate referral company for agents that want to work part-time (some do refer full-time with hundreds of leads). When you know of someone who is looking to buy or sell real any type of real estate, worldwide, we would refer it out to a top agent who would handle everything for you. You would then make top dollar of the total commission as a referral fee. Go to our website www.ParkPlaceNetwork.com to get all of the details on this.
If you are wanting to sell real estate full-time but are just trying to avoid paying your board dues, there really is no way around not paying them in order to sell full time. They are able to monitor your usage on the MLS through ip addresses so you can't borrow somebody else's login. In order to access many of the homes on the market, you would need an electronic key in which only Realtor members have access. Also, you would need to write contracts for properties that only Realtors have access to, if you use one of these contracts, you are setting your self up for copyright infringement. Then there is other issues like on a MLS listing, many agents will put down 0% to a non-rep for the commission. If they find out you are not a Realtor member, they do not owe you a commission even if you are already in contract and about to close. If you are trying to sell full-time, your best bet is paying the extra $1000+ a year for their memberships as they do provide a lot of services for their costs. I hope this answers your question.
|Posted by Park Place Realty Network on August 6, 2019 at 5:15 PM||comments (0)|
Question: I would like to place my Florida real estate license inactive, how do I go about doing that voluntary so that way it is still in good standing?
Asked by: Mark Cox
Expert Reply: Hi Mark, If your license is not currently inactive, then it is probably active under a real estate company. In order to place your license inactive, you would need to contact your current broker and ask them to place your license on inactive status. They can do this through an online system that they have setup with the dbpr or they can go the old fashion route by having you sign a document from the dbpr that they would then fax to the dbpr to make you inactive. Being inactive means that you are still in good standing with your license, it just means you are not currently active under a real estate company in which you are not able to earn real estate commissions.
Please take a look at our company at www.ParkPlaceNetwork.com, we are meant for agents who are inactive, they typically don't want to use their license to sell but instead refer worldwide and collect a referral fee. Park Place agents live all over the world with an active Florida real estate license.
|Posted by Park Place Realty Network on July 26, 2019 at 6:00 PM||comments (0)|
Question: I have an inactive real estate license in North Carolina, can I still collect real estate commission or does it need to be active?
Asked by: David P/North Carolina Real Estate Licensee
Expert Reply: Hi David, In order to collect any type of real estate commission, your real estate license would need to be active. If you need a place to hang your North Carolina real estate license, you can place it with our company as we are active there. We are a real estate referral company. Anybody that you know that is looking to buy or sell any type of real estate worldwide, we would refer it to a top agent in their market that would handle the entire sale. You would then make top dollar once the transaction closes as a referral fee. Go to our website www.ParkPlaceNetwork.com for all the details. I hope this answers your question.
|Posted by Park Place Realty Network on July 26, 2019 at 4:00 PM||comments (0)|
By definition, a real estate referral agent is a licensed real estate agent who refers a client to another, better qualified real estate agent that sells real estate full-time, who will then manage the rest of the client's real estate needs. For referring the client, the referral agent receives a percentage of the commission on the successful transaction.
Real estate referral works in the best interest of the client, but the real estate agent, too. In the end, all three parties profit:
• the client gets the best service they can get,
• the real estate agent benefits from the sale he/she'd otherwise miss out on and
• the referral agent gets a part of the commission as a referral fee.
Is real estate referrals safe?
To make things clear: both real estate agents and referral agents are licensed, which greatly helps to avoid a real estate scam. To earn income, referral agents must have a license and a connection to a brokerage. In other words, a referral agent can't receive a commission from a brokerage unless he/she is a part of it, or is a licensed broker as well.
Additionally, the more referrals end in a successful transaction, the better the referral agent is. Even though their job officially ends once they hand over the client to a colleague, reliable referral agents follow up on the process, since the result of the referral directly affects their reputation and commission.
Match-makers in the real estate business
A referral agent is basically a mediator. They follow the simple, yet effective and ethical rule: I can't help you, but I know a reputable professional who can. Referral agents partner buyers or sellers with real estate agents specialized in a specific area or for a specific type of real estate.
For example, if an agent has specialized in the residential real estate business, they will refer a client interested in a commercial or industrial real estate transaction to an expert. The suitably-skilled colleague will then look after the client's best interests. The real estate referral business is thus quite beneficial for experienced semi-retiring agentss with a wide and reputable network of connections. Moving companies can also serve as referral agents.
For example, Moving Kings Van Lines FL may have a client who needs to sell their house in Orlando and move across Florida. The company may refer the client to a reputable real estate agent to assure a stress-free relocation process.
Relocation company as a referral agent
The real estate industry has tight connections with the moving industry. Some relocation companies work as referral agents. Once they get a client, they offer that client's real estate transaction to a brokerage. Of course, just like regular real estate referral agents, they focus on the expertise of the brokerage’s relocation department. They too expect a certain percentage of the commission.
For example, once cross country moving specialists in Orlando partner with a brokerage, they are required to offer detailed information about the listing and buying/selling timeframe based on their client’s relocation agenda as well as their client's conditions. Once they provide that information to a brokerage, the referral part of their job is over and they can commit to moving the client across Florida.
Once again, there is a triple-win situation. The client gets both relocation and real estate business managed by the best in business without the need to search for themselves. The relocation company gets a referral fee for referring an experienced realtor. The real estate agent gets a steady supply of clients from a partner industry.
Here is a good company to where you will get back 15% of your agents real estate commission that you can use towards your move or other closing costs.
In other industries, the referral fee is suitably called the finder's fee. According to real estate agents, the standard is 25%. However, it fluctuates between 20% and 35% of the commission on the successful transaction. There are a couple of reasons referral agents may ask for a higher percentage. It usually happens when they have a cash-paying client or one who is ready to make multiple purchases. On the other hand, if a referral agent believes that it would take a realtor a lot of work to seal the deal, they propose a lower, 20% fee. Moreover, relocation companies charge higher referral fees, of around 40%.
When is the real estate referral helpful?
Real estate referrals take place quite often for a number of reasons. Most commonly, realtors refer clients when they're not familiar with the target geographical area. A real estate referral agent guarantees with their reputation that the realtor they chose is the best one. They also make the whole process easier for the client, saving them time and effort.
Moreover, referral agents are helpful to clients who want to purchase real estate for the first time in the area and want to connect to a reliable local real estate agent. Ultimately, a referral is a good option for real estate agents who wish to avoid conflict of interest. When their family member is buying or selling real estate, the realtor refers them to another real estate agent.
The real (estate) deal
Referral agents work as real estate agents' agents. A good referral agent must have a pool of select agents in the most popular markets. To help clients find a skilled real estate agent, he/she must build a strong network. Additionally, that network needs to cover numerous varied markets to be of any use. Having in mind that real estate referral agents rely heavily on their reputation, their duty is to invest in online marketing. It makes them visible to buyers and sellers looking for referrals. The useful service referral agents provide makes the connections in the real estate market even tighter. The referral business in the real estate industry does make everybody satisfied: the client, the real estate agent, and the real estate referral agent. This is the most important reason why the real estate referral business has been thriving over many years.
Written By: Lisa Robert with US Moving Experts
|Posted by Park Place Realty Network on July 19, 2019 at 5:50 PM||comments (0)|
Question: I currently have an Inactive real estate license in Georgia and work in a whole other industry full-time. I saw your program and was curious. What can I do with this license?
Asked by: David Miller
Expert Reply: Hi David, if you have a real estate license in Georgia that is current but is inactive, you cannot legally collect a real estate commission. Inactive means that you are in good standing with your license, it’s just that you are not active under a real estate company. Our company Park Place Realty Network is ideal for your situation. You can place your license with our company as we are active in Georgia in which you would then have an active real estate license and can now collect real estate commissions. Whenever you know of someone looking to buy or sell any type of real estate worldwide, we would refer that person to a top agent who would handle the entire sale for you. You would then make a high portion of the total commission as a referral fee once that transaction closes. Go to our website www.ParkPlaceNetwork.com to get more details.
If you are wanting to sell full-time, your best bet is to join your local board of Realtors and the MLS associations and working with a local brokerage. I hope this answers your questions, if you have any additional questions, please let me know.
|Posted by Park Place Realty Network on July 19, 2019 at 5:15 PM||comments (0)|
In order to have success in the real estate market, you will have to work with a reliable real estate agent. Whether you are buying, selling or renting, this is simply a fact. Without hiring one, there is very little chance that you will navigate properly through the real estate jungle. But, is hiring the first real estate agent you stumble upon enough to deal with your real estate situation? Of course not. So, let us cover some tips on working with your real estate agent so that your next endeavor can be successful.
Find a good one
The first thing we would advise you to do is to find a good real estate agent. There is little use in working with your real estate agent if they are not up for the job. So, do yourself a favor, and carefully screen your potential agents in order to select the best one. Look into their testimonials, their professional history, and their overall conduct. Remember, your real estate agent will either be your best friend or your worst enemy when it comes to dealing with real estate. So, do what you can to ensure that they are the former one. Or, Park Place can find a top agent for you.
Tips for Working with your Real Estate Agent
Once you make sure that you've found a decent real estate agent, we can go over what working with your real estate agent is all about. Now, the most important thing you need to realize is that they know more than you. Much more. And, as you will soon see, the best way to work with them is to use that vast knowledge and listen to every piece of advice they give you.
Talk with your real estate agent
Working with your real estate agent is all about communication. They need to understand your position and you need to understand their advice. So, the better you communicate, the better you will work. This is why you need to find an agent with whom you simply click. Those kinds of partnerships between clients and agents usually yield great success in the real estate market.
Understand the real estate market
Speaking of which, you need to do a bit of research. Yes, you should talk to your real estate agent as much as possible. But, you can hardly expect them to describe all the ins and outs of the real estate market. So, what you need to do is sit down and read as much as you can about your real estate situation. Check out tips from local agents, FAQ' s about agents and real estate, how to make your home beautiful... Everything. The more research you do, the better you will deal with working with your real estate agent.
Let them organize your home
In order to sell your home for a reasonable price, you need to first organize it carefully. And the first thing you need to realize is that every person thinks that they can do so. In order to organize a home properly, you need to have experience and knowledge of the real estate market. This is why you should let your real estate agent organize your home. Meanwhile, you can find decent storage units or find long distance moving assistance. As you will soon see, there are a lot of things you need to deal with. So, it is best that you let your agent do what they do best.
Listen to their initial estimate
The first thing your real estate agent will do, once they come over, is give you an estimated price for your home. Our advice is to agree to it. Everyone wants to make as much money as they can with their real estate. But, the thing they seem to forget is that real estate agents want the same thing. The only difference is, real estate agents have a better idea of what is reasonable. Knowing how much homes like yours cost is a valuable piece of information. But, remember that internet prices can often be out of date. Meanwhile, real estate agents have their fingers on the pulse of the local real estate market. This is why they are the most competent to give you a fair estimate.
Don't value internet advice over theirs
One of the mistakes you might make when working with your real estate agent is listening to internet advice over theirs. Look, we are not trying to tell you not to do your research. There are some terrific pieces of advice out there that can save you a lot of time and money. But, if your agent is telling you one thing and the internet is telling you something else, listen to your agent. They have the necessary local knowledge and experience in order to help you out. After all, that is what you hired them for. If you are really persistent, ask them to explain why the internet's advice is not adequate. But, at the end of the day, listen to your agent.
Don't be afraid to change your realtor
The last thing we would like to mention about working with your real estate agent is that you are not obliged to do so if you think it is the wrong move. Some partnerships simply don't yield success in the real estate market. And, if you think that yours is going nowhere, it is best that you end it as soon as possible. It is better that you start over and find a decent real estate agent to work with, than to tie yourself to a subpar one for a long time.
Written By: Lisa Robert with US Moving Experts
|Posted by Park Place Realty Network on July 5, 2019 at 4:10 PM||comments (0)|
As an experienced realtor can tell you, the real estate market is a tricky one, whether you are selling your home or looking to buy a decent one. You will need to do a lot of preparations and have a lot of patience in order to find a good home or sell yours for a decent price. But, none of that is possible if you do not have the right real estate agent working by your side. And, even with their help, you will need to be aware of real estate scams in order to avoid them. So, let's give you a quick rundown of how to avoid real estate scams and find the right agent so that you are properly prepared for the jungle of the real estate market.
Avoid real estate scams
As any experienced realtor can tell you, avoiding real estate scams is absolutely necessary. A real estate scam can not only cost you a fortune, but it will take a toll on your nerves and overall stress level. The reasons why you need to avoid a real estate scam are endless, which is why you need to prepare yourself properly. The more you know about the real estate market and all that it entails, the easier it will be for you to avoid real estate scams.
Research real estate market
So, what is the real estate market all about? Well, as you might guess, this is not an easy thing to describe. The more you look into it, the more you will realize just how many things there are to selling and buying homes. From how to increase the value of your home to all the legal requirements of purchasing a home in a different state. So, what we advise you to do is to consider your particular situation and research it as much as you can. Find out about all the legal requirements and look for tips from people who've dealt with similar situations. More often than not, you will make an oversight. And a helpful online tip can end up saving you a lot of time and money.
Common real estate scams
The second thing to keep in mind is the most common real estate scams. Unfortunately, the real estate market has quite a few scams, and they seem to be constantly making up new ones. So, the best you can do is to educate yourself as much as you can about the existing ones. But, do not think that this will give you a bullet proof shield. Do yourself a huge favor and always be on the lookout when dealing with real estate. Let's look at a couple of common real estate scams that plague the market.
Hackers stealing down payments
This scam is, unfortunately, a common one. People hack into realtors’ emails and ask you to send them money for down payments. What ends up happening is you making a down payment to the wrong account. While you and your realtor realize what is happening, it is already too late.
Bait and switch
This is a scam that fraudulent buyers attempt. What they do is offer a large sum for your house (much larger than the estimated value). You, the seller, get blown away by the generous offer. But, what happens is that they say that there are some difficulties and that they need an extension. You think that this is ok. After all, you are going to get a large sum of money. But, the payment never comes. They will wait until you've racked up the bills on your home and come with a much lower price. How to avoid real estate scams such as this? Look for proof of finance before making a deal.
Have you ever found a cheap real estate listing on a site likeCraigslist? Well, that was most likely a real estate scam. What people do is get legitimate listings and post them on websites like Craigslist as if they were theirs. A clueless buyer will see the listing and hurry to wire the money to a seller who is "in a rush". As you might guess, the seller leaves and the buyer is left empty-handed.
Finding the right agent
As you can see, there is a good reason why people hire real estate agents to help them out. The real estate market has a lot of scams and tricks going around, and a real estate agent is your best bet to deal with them. Not only that, but they can also help you find reliable movers like Dumbo Moving and Storage NYC and make your whole ordeal much easier. So, how are you to find a good one? Well, all you need to do is follow a couple of steps.
Research local agencies
Start off by researching your local agencies. Agencies that operate in the area where you would like to do business are best suited to help you out. They have the necessary knowledge to give you helpful advice. And, they are close by, which gives them the ability to keep their finger on the real-estate market's pulse. Remember to ask for their legal documents and get as many testimonials as you can. Make sure that the local agency is legit before you start working with them. Or, a company like Park Place Realty Network can do the research for you and make sure you are working with a great agent.
Interview the agent
The next thing to do is to have an honest talk with your future agent. This person is going to makethe difference between you making a decent real estate investment and you wasting a lot of time and money. So, do not stop until you feel that you've found the right person for the job. Ask them about their experience and see if they are easy to work with. If your real estate endeavor is going to be successful, you and your agent need to be on the same page.
Written By: Lisa Robert with US Moving Experts
|Posted by Park Place Realty Network on June 28, 2019 at 9:05 PM||comments (0)|
Are you ready to purchase a new home for you and your family? Purchasing property is a very serious and complicated process. There are rules and regulations that need to be followed. Plus, large sums of money are always in play. Many potential buyers debate should they or shouldn’t they hire a real estate agent to guide them and do their buying for them. Our recommendation is to hire a professional that will take care of your needs. Here are some reasons why.
This might be the biggest purchase you will ever make
Which purchase can be more important than buying a property? We are not saying that you cannot do this on your own. However, we are pointing out that there are many risks when not having professional help by your side through this process.
Searching for properties on your own
You can search for properties on your own and you might even find something that suits your needs. The big question is what comes afterward. How do you know you aren’t overpaying for the property that you are buying? Are you certain there is no potential problem on the property? Have you fully followed the letter of the law? It is hard to be certain on how to answer these questions when purchasing property without help.
Real estate agents have special skills and knowledge
There is a misconception that real estate agent is only there to take you from one property to another, so you can have a variety of properties to choose from. Although this might be partly true, it is just a small portion of what real estate agents have to offer when representing somebody as buying agents. There is special training for real estate agents, that gives them skills and knowledge that regular people do not have.
Why buying directly from the seller is not such a great idea
This is the moment where many get misguided because they want to save money and avoid paying commission. However, if you really think about it, you might pay way more for other things because you aren’t a professional and you don’t know how to handle the situation. Your real estate agent is loyal to you and protects only your interest. Who will do that for you if you are alone? This is not a situation where you should be overly confident and think that you can do everything on your own. Otherwise, you will be stuck directly with the seller. Two non-professionals making a deal doesn’t sound like a winning combination. This way of purchasing property can go south in many ways.
You don’t want to overpay when purchasing property
If you are going through the buying process alone, it is very likely that this will happen. Only a local real estate agent will know what is the real market value of the property you are interested in. Sometimes prices differ from one street to another. How can you know this on your own? Also, prices can be influenced based on the age of the property and some other factors. You cannot be certain of these details. A real estate agent, on the other hand, will be. In other words, they will make sure you get the best possible property for your money.
Did you think about disclosure issues?
This is another very important reason why you should contact a professional if you decide to purchase a new property. In case you are buying directly from the seller, remember they aren’t obligated to disclose any problems that they have with the property. For example, they might not tell you that there are issues with the roof. Of course, you will not know you even have a problem until there is a big storm or heavy rainfall.
This is the type of problem that a real estate agent can prevent from happening. First, they are loyal to you and they will protect your interest. Second, they will know which professionals to hire to examine the property.
Purchasing property has many legal aspects that come into play. Make sure you have it all covered by consulting your lawyer and hiring a real estate agent. Alt text: two signs that state legal and illegal.
Inspecting the property
We are piggybacking on our last topic. Sometimes you real estate agent cannot catch potential problems just by just visiting the property. However, local buyers might know something that you don't know. For example, they might know that many other locals had termite issues in that region. Consequently, they will hire professional inspectors to examine the property. There are many potential problems that can be going on with the property that the naked eye cannot spot. This is a great reason to have a professional protecting your investment.
Are you certain you are choosing the best neighborhood for your family
Here comes into play communication between you and your real estate agents. You must tell your real estate agent all the details that are important for you. Also, what is important to your family. Do you want a school nearby? Maybe you would prefer to live close to the park. Would you prefer to live in the suburbs or in a downtown area? The list of questions can go on and on. Some might be more specific than the other. Nevertheless, all very important to you. It is much more likely that your new property will hit more of your criteria if you have a real estate guiding your search. They are usually local professionals with a deeper understanding of the local grounds.
After you decide to move, you can learn what a binding estimate is:
By no means are we saying that nobody ever successfully purchased a property on their own. However, it is much more likely that you will get burned at some point if you are doing it on your own. There are just too many hurdles that need to cross in order to finalize a good purchase. The risks are too big and the purchase is too important to take it lightly. We wish you the very best and we hope you will find exactly what you are looking for.
Written By: Lisa Robert with US Moving Experts
|Posted by Park Place Realty Network on June 21, 2019 at 3:45 PM||comments (0)|