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Top Myths about Real Estate

A myth can be defined as “any invented story, idea, or concept.”  

Just because you just heard something from someone or read something on the internet does not mean it is true. Those could probably just an invented story by someone or it’s basically their own point of view. As an Agent you have to be prepared to give proper guidance to your buyers and sellers, so they make the right decision, rather than just take what they hear.

Selling A Home “For Sale By Owner” Saves Lots of Money
One of the main reasons sellers believe that selling their home or property “for sale by owner” (FSBO) can help them save lots of money.  This is a common real estate myth. FSBO believe that selling homes is easy. It would be great if selling homes was as simple as putting a for-sale sign in the front yard of a home, input the home into the MLS, and wait for it to sell, but it is not. FSBO’s usually end up losing money by not hiring a professional real estate agent.  This could be due to several different reasons. First FSBO might overprice their home and it didn’t sell for 6 months.  Or the transaction mishandled ending up in a buyer being declined after 3 months under contract.  Probably the FSBO do not know how to negotiate the best price and terms for their home.

Getting Pre-Approved Is Done After Finding Your Perfect Home
This is one of the hardest myth to break for real estate agents relates to financing.  A lot of home buyers believe that getting pre-approved doesn’t necessary to take place until they have found their dream home.  This is big mistake for some reasons. Finding a home takes a lot of process. It could also be frustrating, exciting and time consuming.  A buyer can be devastated if they find a home they like, write an offer, and have it accepted only to find out in the future they have been declined for a mortgage.

Real Estate Agents Only Can Show Their Own Company Listings
It doesn’t necessarily mean that Real Estate agent can only show their own company listing. This definitely not true. Real estate agents who belong to their local real estate board and MLS have access to any listing that is multiple listed. Meaning, If a Real Estate agent works for a certain company, they can also show properties that are currently listed by other Real estate companies and that’s a fact.

 

Credits to:

Kyle Hiscock, e-PRO® & REALTOR® at Nothnagle Realtors

 

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Understanding Home Insurance Better

Having a new home is overwhelming, but as part of it, you should consider that it is important to protect your property. Home insurance is not mandatory but whether it is mandatory or not I believe that it is a good choice to have a Home Insurance. Let us define what is home insurance first in order for us to have a better understanding of it. Home Insurance is an insurance that secures or protects your home and personal possessions from fire, theft, mischief and other danger or hazards. What should we consider then, before buying a homeowner insurance? First in buying a Homes Insurance you have to figure out how much and what kind of coverage’s you will need to secure your property. You should have knowledge or must obtain information regarding the various  companies fee, different rates and different coverage.

Basically there are three types of coverage.

  • Actual cash value – This value covers the house plus the value of your belongings after deducting loss of value. For Example:  how much is your stuff worth, not how much you compensated for them.
  • Replacement cost – This is the actual cash value without the deduction for loss of value, so you can make repairs or reconstruct your home up to the original value.
  • Guaranteed (or extended) replacement cost The most complete. It pays for whatever it costs to repair or build your home – even if it exceed your policy limit! For sure insurers offer prolonged replacement, meaning it offers additional amount coverage than your purchased. But there is a limit; frequently, it is 20-25% higher than the maximum.

Once you have gather all the information needed. The next thing you should know is where to buy a Home Insurance.  Before making a decision, you have to make sure that you only purchase a home insurance form an authorized company or license agent, in order to avoid problems that might arise in the future.

 

Credits to:

http://insurance.wa.gov/your-insurance/home-insurance/understanding-home-insurance/

http://www.investopedia.com/articles/pf/08/homeowner-insurance.asp

 

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The Importance of Great Customer Service in Real Estate

Customer service is defined in Wikipedia as the provision of service to customers before, during and after a purchase. it also describe as the perception of success of such interactions is dependent on employees “who can adjust themselves to the personality of the guest”. Therefore, developing a customer service skills no matter what your responsibility is, or what kind of work you do, will definitely help to become exceptionally good in everything. Having a great Customer Service in a Real Estate, plays a very important role in order to gain the trust of your clients. One of the most essential ways of serving your clients is having a great communication skills. Learning how to speak with your clients will make the communication much easier anytime you talk to them. In addition to that, an agent should maintain the lines of communication open. Agent must be available to not only answer your questions, but to take care of all the the details needed in the transaction process. Imagine if an agent does not maintain a good communication, he or she most likely, won’t excel in this field of work. Being responsive and giving your clients an updates on what is happening, makes them feel that they are important. Of course, aside from having good communication with your clients, it is also necessary to educate them from the very start of the transaction. This will do good for both of you and it will be a lot easier for both parties. Listening to your clients is another aspect of having a good customer service. Paying attention on what your clients need helps you to meet their satisfaction. Lastly, closing the deal is the most important among the rest. Having a good intention to your client is an important part of doing business but you should also know how do do your job as well.

 

Credits to:

https://en.wikipedia.org/wiki/Customer_service

 

 

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Advantages of Hiring an Agent

Have you ever wondered why it is highly recommended to hire a Real Estate Agent whether you are a buyer or a seller? Agents performs many task all trough out the Real Estate transaction process. They know your interests and aims and helps you translate them into effective communications with other people connected in the negotiation.

Here are some of the reasons why you should consider hiring one:

1. Expertise. You don’t need to know everything about buying and selling Real Estate properties. Hiring a Real Estate Agent that has more knowledge and experience than you are can help you reach your expectations in buying and selling a property. Since Real Estate Agents have mastery of the market trends.

2. Better access to property. Real Estate Agents have an easy access to all the properties listed on the market. So if you’re looking for a dream home it would be easier to find your preferences because Real Estate Agents already know where to look for it.

3.  Price Information. Real Estate Agents also gives financial advice to their clients. They also have a knowledge on how much a property is worth in a particular area. Not only that, if you are a buyer of a property, buyer’s agent will also help you to get pre- approval in applying for a loan. Since, an experienced Real Estate agent knows how to communicate with a bank.

4. Negotiating Abilities. Real Estate agents are professionals. They were trained to negotiate contracts in order to protect their buyers right. They are reliable and very effective negotiator in the transaction process.

5. Smooth Transactions. An experienced Real Estate Agent can help you feel more relaxed with your transactions especially when signing of contracts. It is their responsibility to make sure that everything you need are handled properly.

 

Credits to:  ElizabethWeintraub

 

 

 

 

 

 

 

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Imagine the future of Real Estate

Real Estate in the US is a highly dependent on the country’s economy. But whether the economy goes up and down the Real Estate business never slows down. The only thing that varies, depending on the state of the economy, is the inventory of the properties in the market. If the economy is down there will be possibilities of foreclosures, thus, REO properties and short sales will be more likely seen in the market. Probably more sellers than buyers. If the economy is up, the people will have a more decent, high paying jobs, they will have more buying capacity and have the opportunity to invest in the Real Estate. So whether the economy is up or down, the Real Estate business never goes down. The buyers and sellers will always look for someone who can cater their Real Estate needs.

In one aspect, home rentals nowadays are too high. And because of that, people would rather choose to get a rent to own house rather than to pay for their monthly rentals. Also there are lots of rent to own houses that offer a good price. That is why in most cases people would rather get a home that will benefit them in the future. Of course, who does not want to have their own home? I believe everybody does. It’s just like, they get what they are paying for. Therefore, the demands for this specific type of real estate is also high. Especially now that our population is rapidly growing, whether you like it or not, the need for these houses are also increasing since housing is a basic human need.

Based on may own point of view, there is a future in the  Real Estate regardless of the status of the economy. Therefore, I conclude that the Real Estate future is Bright!!!