Questions to Ask???

THINKING ABOUT BUYING OR SELLING A HOME???

You should be!   Prices are sharp and rates still remain awesome!!

But should you not have a friend that can refer you to a great Realtor.....or you just simply want to know what that Realtor is about, here are some key questions to ask!!!

Questions to Ask

         1.      Are you a Realtor?  If so, tell me what value 

           it brings to me.

2.      What percentage of your potential commission

     will go to advertising my property?   What  

     sources of advertising do you use and why?

3.       Where does your company rank among the

     Real Estate Companies in " YOUR AREA,

     CITY OR STATE"?

4.      What services does your company provide 

     that differentiates it from your competition?

5.      How many offices and agents are associate 

    with your firm? What advantage is that to me?

6.      Describe your Buyer Pool?  How will that

     impact the sale of my house?

7.  How do you ensure I get the best deal on my

     new house?

8.      What Relocation assistance can you provide?

9.      What assistance can you provide in me 

     preparing my house to sell?

10. How will I be assured that I am notified on a

      newly listed home??

11.      What specific experience do you have selling

       in this neighborhood?

12.       How do you:

1)      Ensure I don’t move until I’m ready to 

     move? 

2)      Ensure only qualified buyers see my house?

3)      Ensure the potential buyer has solid

     financing?

13.  How does the Standard Purchase Agreement

     work in my favor?

14.  Where do you rank in your company in sales

      and listings?  In "Your Area"?

15.  How many years have you been a Realtor? 

      Number of Circle of Excellence Awards or 

      other awards?

16. What training do you have that will help me

       specifically??

17.   Do you have letters of recommendation

       that you can provide?

Any real estate agent should welcome the chance to answer these questions.   I know I will answer these for any one in Hampton Roads!!!

Are We Still In a Buyers Market

Many people would post a question mark on their forehead if asked:

           Is it still a buyer's market???    

For they feel in a bubble surrounded by news media talking about

foreclosures now on hold due to possible "robo signing" discrepancies at numerous banks.  

  And they just don't know who to ask.

Reality:   As long as the number of homes exceeds 6 months inventory(i.e. more homes for sale than will go under contract in six months at the current rate of sales per day), it is categorized as a

buyer's market.

Thus, if you are looking at homes in the $400,000 to $500,000 in your area of the country and you are told the inventory exceeds 11 months, you are solidly in a buyer's market.  While if you are seeking a home under $200,000 and you are told the inventory is 6.8 months, you are marginally in a buyer's market.

What???

What does this mean to you??? 

                                 Great Question!!!!

Though the precise home you are contracting on does impact this question, typically the seller's motivation to negotiate and to provide assistance to the buyer(i.e. home warranties, closing costs, lease/purchase options) increases as the market inventory increases.

A home in a very desireable neighborhood price $100,000 less than comparable homes but still in the $400K to $500K price range in a market like that noted above could very well go counter to this conventional wisdom. 

And the last variable to consider are the reasonableness of the seller...AND the buyer's level of reasonableness.

Home contracts has an aspect called "meeting of the minds".  That is, the buyer and seller must meet together on terms that are mutually acceptable.  Failure to reach this point due to one party or the other being unreasonable in the offer or the response will cause any contract to be a no deal.

Want to know more about your market???   Contact a Realtor!!!

Got a question for me???  Let me know!!!