Category: Home Selling Tips

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Top 5 Things to Look for When Hiring a Realtor

Today’s Guest Blogging topic is: How to hire the best Realtor for your needs

With: Jessica Wallace, REALTOR @ COLDWELL BANKER

Working with the right Realtor makes a huge difference in your success in home buying or home selling.  The ‘right’ Realtor will be different for each person as well depending on personalities and goals.  Here is a list you can use for a general rule of thumb when looking for a Realtor to help you buy or sell a home.

TOP 5 THINGS TO LOOK FOR IN A REALTOR:

#1  LOCAL EXPERTISE

This is a big one, you want your agent to be extremely knowledgeable in the areas you are looking to buy or sell a home.  Having deep local knowledge of the nuances in pricing in an area, familiarity with other local agents and lenders is huge and working with an agent that really knows their marketplace will help you be successful.

#2 EXPERIENCE = YEARS IN THE BUSINESS + NUMBER OF SALES PER YEAR

With each real estate transaction I have done, I learn something new every time.  I have been selling homes since 2004 and the amount of knowledge I have attained is crucial to my client’s success  It helps when a tricky or difficult situation comes up in a sale that I can draw on my experience to make things happen and solve problems.  Make sure to look up an agents average number of sales per year.  You don’t want to work with a part time agent that is not fully invested and knowledgeable about the real estate business.

“you want your agent to be extremely knowledgeable in the areas you are looking to buy or sell a home”

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#3 REVIEWS – REPUTATION

Do your research on the Realtors you are considering and see if they have any reviews online on sites like Zillow, Google, Realtor.com, LinkedIn.  Read about other people’s experience with the agent and if they do not have any reviews or very little I would be wary.

#4 PERSONALITY

Everyone is different and has distinct ways of interacting and even a very experienced Realtor might not be the right one for you if you don’t mesh with their personality.  You could be spending a lot of time together and potentially dealing with stressful issues that come up.   If your Realtor’s personality rubs you the wrong way, even if they are great at what they do, you may want to consider working with someone that you are more comfortable with on a personal level.

“if they do not have any reviews or very little I would be wary”

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#5 TECHNOLOGICAL SAVVY

You want a Realtor that keeps on top of the newest trends and technology in real estate, especially when you are selling a home.  Understanding how to leverage technology and social media to bring the greatest amount of exposure to the home you are selling will potentially get your more money for your home in a shorter amount of time.   If your Realtor is not using professional video, photos and a social media strategy to sell your home, they are doing you a disservice.

When it comes to selecting someone to help you through one of the biggest financial transactions of your life, make sure to chose wisely my friends.   

More about the Author:

Jessica Wallace is a Realtor in Santa Cruz with Coldwell Banker and has been selling homes since 2004.  As a native of Santa Cruz, Jessica uses her local knowledge and years of experience to help her clients be successful and achieve their Real Estate goals while making the process as enjoyable and stress free as possible.  

Contact Jessica @  831.419.9345 or you can send her a message HERE.
Website: www.BuyorSellSantaCruzHomes.com 

Disclaimer: : The views, data, and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Mason-McDuffie Mortgage Corp.

 

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Video: Are There Special Mortgages For First-Time Homebuyers?

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Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past.

Lenders may now be able to help borrowers who don’t have a lot of money saved for the down payment and closing costs, have no or a poor credit history, have quite a bit of long-term debt, or who have experienced income irregularities.

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You Ask, We Answer: Understanding the Real Estate ‘Short Sale’ and How This Process Works

You Ask, We Answer: Understanding the Real Estate 'Short Sale' and How This Process WorksA short sale is something that occurs when a homeowner is not able to make the mortgage payments on time due to a financial hardship. Instead of foreclosing on the property after one or more missed payments, the bank may agree to allow the homeowner to turn the home over to the bank, which will sell it to as close to market value as possible.

Here’s what you need to know about how short sales work and what circumstances might call for one.

Step 1: The Homeowner Provides Information To The Bank

The first step in the short sale process is for the homeowner to submit an information package to the bank. The homeowner will provide information such as the reason for the short sale, an authorization letter allowing the real estate agent to talk to the bank, and a financial statement. In addition, the seller may need to provide an HUD-1 statement as well as a list of comparable homes in the area.

Step 2: The Buyer Makes An Offer

Once the house is put on the market, a buyer can make an offer just as he or she would on any other home. The seller will then have the opportunity to accept any offer that he or she receives from a prospective buyer.

Step 3: The Bank Makes A Decision About The Offer

Once the seller accepts an offer to buy the home on short sale, the seller is responsible for sending information about the sale to the bank. Before the sale is finalized, the bank must approve the buyer’s offer. It could take as little as two weeks or as long as 120 days for the bank to approve the offer.

However, not all short sales are immediately approved. The seller’s bank bank might decline the buyer’s offer for one reason or another. A bank may decline a short sale offer if the bank negotiator thinks the house is worth more than the buyer’s offer or if the seller violates a clause in the short sale agreement – such as moving out of the property and violating a clause that states only owner-occupied properties are eligible for short sale.

Buying a home that is being sold as a short sale requires patience and an ability to move at the bank’s pace. Working closely with an experienced lender or mortgage broker may make it easier to get through the process without a lot of hassle or drama.