1 *Agents that are rude. Sellers often pick these agents under the mistaken impression that it will benefit them because they have a “tough agent”. But in most real estate markets, other agents typically don’t want to deal with them and are less likely to show their listings. Additionally, when buyers run into a rude listing agent, they are more inclined to come away with a negative impression of the property.
2 *Agents that make it more difficult to show their listings. In most states agents, can put a lockbox on a house. Some agents in these states will put in the listing that you have to make an appointment with the listing agent. Since the buyer’s agent has to call and make appointment instead of just showing the listing, this dramatically cuts down on the number of showings these sellers receive.
3 *Agents that only work as real estate agents occasionally. While it seems like a good idea to use your brother’s friend that has sold 3 houses in the last 5 years, it’s probably not. These agents don’t know the market as well as a full time agent. Additionally, they don’t understand what is typical in a real estate transaction in your region and an experienced buyer’s agent can use this to their client’s advantage at your expense. If you were going in for a root canal you would not want to use a dentist that has only seen 3 patients in the last 5 years. In the same way, you don’t want to hand over the sale of your largest asset to someone that is inexperienced.
4 *Agents that are so desperate they try and steal clients away from every agent that shows the house. While this is rarely successful, it does make an agent think twice before showing the listing to another client knowing there is a hungry vulture waiting there for them.
5 *Agents that don’t work on the weekends. Real Estate is a 7 days a week business. If your agent is not answering the phone on the weekends, you can expect that the number of showings you will receive is going to be cut down. Sometimes buyers are in from out of state for the weekend and are planning on making an offer while they are in town. They usually narrow it down to two or three properties. While your agent does not return calls about your property over the weekend, the listing agent for the other property probably will answer the buyer’s questions about their client’s property. When it comes time to make an offer, the buyer is going to make an offer on the house they know more about and feel more comfortable with.
6 *Agents that have a bizarre set of rules that is atypical for the industry. This can come in many forms. Some agents want all correspondence with them to be done by fax instead of telephone or email. If the option fee is usually $100 and your agent is demanding $500 you can expect that their eccentric rules is turning away potential buyers. Being eccentric is great with art, but in a real estate transaction, it usually makes people wary.
7 *Agents that don’t take photos of your property. There is no good excuse for not taking photos of your property. If your agent is only going to take 1 or worse 0 photos, it’s time to find a new agent.
8 *Agents that don’t have a website. As real estate has become more of a business based on technology, with buyers looking online for houses, and more of the real estate transaction taking place through email, you want your agent to be operating in the 21st century. If your agent doesn’t have a website it’s a good sign that they are still practicing real estate in the age of dinosaurs.
Posts Tagged ‘Home’
Choosing a Real Estate Agent to Sell Your Home
Sunday, February 21st, 2010If you are considering, or have decided to put your real estate up for sale then you are probably looking for a real estate agent. What do you need to look for in an agent so that your experience turns out not only positive, but hopefully resulting in the sale of your property.
Any agent you consider should be licensed by the state they are operating in. It is surprising how many property owners do not check this out before listing with an agent. You do not want to spend time and effort only to find out later down the road your agent is not fully licensed.
Look for a successful agent who is very active with lots of listings. Generally real estate agents who are successful at listing and selling property will have many listings. Those that are not as good as actually getting property sold have few if any listings. You should see signs, newspaper ads, commercials, and other marketing materials often if the agent is making deals. Agents who actually market the properties they list usually have a higher success rate.
So where is a good place to start the search for that successful agent who can potentially sell your home? Start by asking your friends, family, and neighbors about the agent they used on their real estate deals. The either positive or negative response to this enquiry will give you some leads to follow and agents you might want to avoid as well. Also consider the real estate firm the agent works out of the offices of. Large nationally known firms have higher standards for their agents than smaller locally based firms. Though there are some diamonds in the rough in these local firms. Consider the agents in the firm that regularly win monthly sales awards, these are the aggressive marketing agents who get results. Finally do online research at sites that gather data on licensed real estate agents. This will give you hard numbers to make your decision on.
Of course you also need to ensure that the personality of your real estate agent does not conflict with yours. Some people just have traits that do not mesh with others and you do not want to have any conflict with the person selling your home. Communication is essential between a real estate agent and the home seller. A lack of communication or miss-communication can lead to conflict and hard feelings, which can impede the sell of your home.
Once you have an agent you would like to work with discuss with them how they plan on marketing your home. Get their response in writing! This will give you an idea of what exactly your agent will be doing for you. Many of these marketing tactics you can check on your own to ensure he is following through with your agreement. You can view your listing online on the local mls, any ads placed in papers, and know the marketing is being aggressively done on your property.
Can U.S. Luxury Real Estate Markets Sustain Home Prices?
Friday, December 11th, 2009Top 10 Luxury Home Markets To Watch for Price Increases or Reductions
The Unique Homes Magazine has listed 25 luxury home markets to watch in 2007 in its January issue. According to the Unique Homes report the 25 luxury markets will indicate where the luxury real estate market is heading to. These markets along with features that make them stand out from the rest are worth watching out for.
The following is a brief report on the top 10 luxury home markets to watch for price increases or reductions in 2007.
1. Annapolis, Maryland. The waterfront city located on Chesapeake Bay offers excellent boating and affordable prices compared to Washington’s luxury enclaves. With Washington and Baltimore within reasonable commute, this city is highly desirable.
2. Asheville, North Carolina. An eclectic ambiance and low-key lifestyle attracts people to Asheville which continues to remain one of the hottest places for luxury home buyers.
3. Aspen, Colorado. From a ski enclave this luxury market has grown into a platinum location. With its four-season appeal and restrictive zoning policies, Aspen is still a highly-sought after destination.
4. Atlanta, Georgia. The city offers several new upscale communities, numerous lifestyle amenities, retreats and much sought after waterfront luxury homes.
5. Austin, Texas. A strong real estate market that saw record gains in 2006, the reputable University of Texas, the scenic lakes and the great music attracts buyers to this hill country.
6. Bellevue/Medina, Washington. With prices going up at 28 percent, the market has still not peaked and several upscale neighborhoods are available at a lower price range when compared to other markets.
7. Beverly Hills, California. One of the top ranked luxury markets that is perpetually in demand, Beverly Hills continues to be untarnished and idolized as the Mecca for luxury. Hollywood Hills is currently a hot market for buyers.
8. Idaho. The growing resort markets in the state garner attention for the state that is making its presence felt in the luxury home market.
9. Jupiter, Florida. The boom has arrived here after Tiger Woods’ purchase of a 10-acre estate for $38 m. The market continues to surge on this exclusive island.
10. Manhattan Uptown, downtown, midtown. The luxury market is upbeat with record sales of more than $5 m in 2006 accelerated by Wall Streeters. Co-ops and town houses are favorites among buyers here.
If you are interested in buying or selling a home, condo or any other type of real estate in any of these markets, be sure to seek out the services of a real estate agent to advise you about current local market conditions.
How a Philadelphia Real Estate Agent Can Help you Find a Great Home
Thursday, December 3rd, 2009Moving to the City of Brotherly Love can be an exciting opportunity but also difficult to find the right home. A Philadelphia real estate agent can help you narrow down what type of neighborhood you would like to live in.
We have compiled a valuable website at www.localrealestateyellowpages.com to help find a quality Philadelphia real estate agent to help make your search for a residence enjoyable. With over 1.6 million residents, Philadelphia offers its citizens an amazing array of cultural and educational opportunities.
To gain the most out of your life in this city, the use of a Philadelphia real estate agent will help answer any questions you may have. There are many questions you need to ask yourself to help facilitate the process of finding a new home. Do you need to live close to schools? Is there a certain area you need to live near? How important are recreational and entertainment options to you?
By knowing the answers to these questions, you will provide your Philadelphia real estate agent valuable information he or she can use to find the home of your dreams.
For more resources about Real estate agent directory or even about local real estate agents and especially about Atlanta real estate brokers please review these links.
2006: U.S. Cities With Overvalued Real Estate And Home Prices
Friday, October 2nd, 2009Buying a home is a big-time real estate investment and has to be done with great prudence. Knowing where not to buy a home is as important as are the dos and don’ts of buying a home.
Of the many top ten lists on CNNMoney.com, there is listed the top ten overvalued cities in America where it is better not to buy a home for the next two years or so. The report states a variety of reasons for the unfavorable market conditions.
Five cities in California – Bakersfield, Fresno, Merced, Sacramento and Stockton, figure among the top ten cities that have the least possibility of home price appreciation. Home prices have reached a new high (by nearly 60%) in these areas over the past two years. With an economy driven by agriculture and relatively higher unemployment rates anticipated for that area, the real estate market is predicted to slump in the region.
Although three cities in Florida are recommended as good real estate buys, the report also cites four others in Southwest Florida that fall among the very bottom of the list. With home prices here expected to plummet very soon, cities like Fort Myers, Naples, Punta Gorda and Sarasota are those that one would do best to avoid for a year’s time or so, while buying a home or a condo.
Market prices are expected to decline in the Jersey Shore (New Jersey) area that saw a radical boom in the last two quarters. Although home prices in the third quarter have rebounded from the slight drop during the second quarter, the bubble is expected to burst soon and the overpriced market is likely to stabilize. The popular seaside cities of New Jersey, Atlantic City and Ocean city are anticipated to fall under the unfavorable list.
In Phoenix, Arizona, a hot favorite among investors last year, sliding home prices may to be an unavoidable occurrence in the next 12 months. With home prices dropping by more than $100,000 in some residential developments and investors trying to sell off their property, it is safer to wait for a year or longer before investing here.
Economists at Moody’s Economy.com also predict a sharp decline in Riverside and San Bernardino counties, California’s Inland Empire.
The bottom ten cities that are likely to see major drops in median home prices during the coming year are Stockton, (leading the list with a predicted fall of 9.7%), Merced, Reno/Sparks, Fresno, Vallejo/Fairfield, Las Vegas, Bakersfield, Sacramento, Washington, D.C and Tucson.
Given these fluctuating real estate market conditions, one should exercise a great deal of caution when investing in real estate. It makes sense to get the expert advice of a real estate agent to advise you about your next home purchase, since agents often have access to the most up-to-date real estate market data and neighborhood pricing trends.
What Do Wealthy Home Buyers Want From Their Real Estate Agent?
Wednesday, September 30th, 2009Wealthy home buyers who buy multi-million dollar homes are typically self-made millionaires with new money, according to a recent online survey of 683 Coldwell Banker Previews International property specialists. The study revealed the top professions of these affluent customers. According to the respondents, 88 % of their customers are business or corporate executives, 37 % are physicians, 31 % are lawyers, 30 % are financial professional and 14 % are entertainers, entertainment executives or professional athletes.
Wealthy home buyers require their real estate agents to be equipped with special skills, according to the Coldwell Banker’s survey. Given the magnitude of the financial transactions involved in luxury home purchases, 78 % of sales associates said that the top most need their clients require from their real estate agents is privacy and confidentiality. The luxury customers also want their real estate agents to exercise discretion while dealing with their multi-million dollar transactions. Almost 70 % of respondents polled that their wealthy clients want their real estate professionals to offer customized services while 44 % said that the luxury home buyers want their agents to have good network and work relationship with executive assistants, CPAs and attorneys.
Wealthy home buyers also want their agents to know the inside scoop on the real estate market, according to 36 % of the respondents in the Coldwell Banker’s survey. Seventeen percent of the sales associates surveyed indicated that one of the necessary skills for real estate professionals working with affluent customers was the ability to provide emotional support to their clients. And according to 11 % of respondents, luxury customers want their real estate agents to establish personal rapport with their clients.
The study also included queries on the “must have” amenities that the affluent clientele want in their luxury homes. Wealthy home buyers want media rooms in their homes, according to 60 % of respondents and another 60 % polled that their affluent customers want “wired” homes. However, there are a few home design elements that are out among luxury home buyers. Gourmet kitchens, granite countertops and wet bars are no longer counted as luxuries by wealthy home buyers, according to the survey respondents.
The survey also found that the multi-million dollar home buyer pays a typical down payment of 20 % to 30 %, while a quarter of clients put down 30 % to 50 % of the sale price.
Role Of Real Estate Agent In Vacation And Second Home Markets
Saturday, September 5th, 2009Second home sales have been increasing over the last few years with more people becoming second home owners. In 2005 alone, 40 percent of the homes sold were second homes. Demographics, all time low mortgage rates, and healthy rise in home prices have contributed to this development in the second home market. Besides these, a major factor that has helped augment the buying and selling of second homes is the real estate professional.
The National Association of Realtors conducted research on the profile of second-home owners in 2006. According to the NAR report entitled ‘2006 Profile of Second-Home Owners’, a majority of second home sales transactions are conducted using the services of real estate agents.
The statistics are remarkable; 64 % of vacation home buyers purchased their home using the services of a real estate agent by the end of 2005 – a marked increase from less than 50 % of vacation-home buyers in 2003. Also, 65 % of investment-home buyers purchased their home with the help of a real estate agent – an increase from 53 % of pre-2003. In comparison, only 14 % of vacation-home buyers and 7 % of investment-home buyers purchased directly from builders from 2003 to 2005.
The growing role of the real estate professional is evident from the following figures:
1. Of vacation home sales made, 71 % of them were second homes and 74 % of the sales were made using the services of a real estate agent.
2. Of the investment properties sold, 85 % of them were previously owned and 62 % of the sales were made using the services of a real estate agent.
The use of real estate agents in second home sales transactions varied according to the home’ location.
1. Buyers used a real estate agent more frequently while purchasing a vacation home located in a suburb/subdivision (56 %) or a rural area (57 %) than for homes in other locations.
2. About 66 % of buyers who purchased an investment property in an urban/central city area or in a suburb/subdivision, used the services of a real estate agent more frequently than those who purchased a home in other locations.
Real estate professionals continue to be the first source of information to second-home buyers (38 % of vacation-home buyers and 34 % of investment-home buyers). The real estate professional also plays a major role when second-home owners plan to buy additional properties. If you are thinking of buying a second home or vacation home, seek out the services of a real estate agent to guide you through your next home purchase.
1. The percentage of second home owners who are more likely to use a real estate agent in their next home purchase is quite high. Among vacation-home owners it is 79 % and investment-home owners 73 %.
2. Among second home owners, 65 % of vacation-home owners and 64% of investment-property owners are more likely to use a real estate agent in their next home sales.
Given these statistics, it is no wonder that the real estate agent plays a pivotal role in helping people buy and sell second homes. So whether you are a second-home buyer or seller, enlist the services of an agent for a smooth, hassle free real estate transaction.