|Posted on February 21, 2020 at 5:20 PM||comments (0)|
Buying your first house, apartment or commercial property is a big step. And even if this isn't your first time, it is still something that will require your complete devotion. We are talking about a large amount of money, and investments such as this one are certanly not something any of us should play with. Focus, devote your time and energy to finding the best solution possible and make this whole process safe and smooth. There is no way around it. It will be stressful, it will cost you a lot of money, but – if you play your cards right, you will end up with the best deal possible. The same goes if you are planning on selling your property. You won't be investing your money, but you will want to get as much money as possible once you close the deal. That is why having the best professional on your team is so crucial. Your realtor should guide you through this process, get you informed and help you come to the best decisions you possibly can. Here are 7 things to consider when choosing a realtor (or a real estate agent).
Even though the most educated realtor isn’t always the best one, you should definitely consider their credentials. Your realtor professional needs to be well-educated, licensed by the state, reliable and knowledgeable. Specialty trainings and further education always come in handy, and even though they will not guarantee you success, they will certainly bring you one step closer to it. Devoted agents and realtors who are serious about their careers will do everything that they can in order to further their education and expertise by attending seminars and getting certified.
It doesn’t really matter if you are planning on selling or buying a property, either way – we are talking about large amounts of money. And you will want this deal to go smoothly and without any trouble. You need to be focused and well informed before making any deals. And that is something a reputable agent (or realtor) will do for you. Reputable professionals aren’t out for their commission checks (at least that isn’t their sole goal). They care about their career, reputation and – their clients. These professionals will do everything that is in their power to help you as much as they can, provide you with the best experience possible and make sure you get what you were looking for.
Hiring a professional from another county might seem like a good idea. You got referred to them, or you found them online. No matter the reason or way you got their contact info, we advise you to think twice before hiring such a professional. Your best chance at getting the best deal possible is hiring a local agent. They know the real estate market in your area. They will also provide you with the most valuable insight that will help you make the right decision later on.
Local agents are also quite familiar with other realtors – they communicate and do business with them on a daily basis. This might seem like something that doesn’t really matter, but it is actually something that helps match buyers with sellers in no time. And you know what they say – time is money. And another bonus of hiring a local professional – meeting in person will be much easier. Talking to your agent over the phone is something that will happen either way, but having that eye-to-eye talk once in while is always a good idea.
Newspaper ads won’t cut it this time. It is a modern world out there, and in today’s world, as it is, most real estate journeys start online. Most sellers and buyers start their research on the Internet, and when it comes to real estate professionals – they need to be the same. The best possible option is if your agent is tech-savvy, knows how to use every tool at his or her disposal and by doing so is able to provide you with the best result possible.
We are all super busy. And so are real estate agents and realtors. However, you will want the person you hire to be available. Coordinating times and working busy schedules isn’t always simple, or easy, but – it is possible. The good news is that real estate professionals don’t usually work a nine to five schedule, and are almost always flexible. That is why you should look for an agent that is willing to meet with you day, night or weekends, depending on your needs. Dealing with real estate projects isn’t something that you’ll do during your lunch break, and you should definitely hire someone who is able to work with you.
This one seems quite obvious, but it is actually either a selling point for most people looking to hire an agent or is something that people don’t even take into consideration once they look up the agent they are interested in and they find their credentials, successful projects and sales. Communication skills are important. Real estate is all about negotiating and having a true professional by your side when trying to close a deal will help you achieve your goals (no matter if you are trying to buy or sell a property). Just like when trying to choose the best available assistance for your move, you need to consider every angle before making any final calls.
The extra mile
Is your real estate agent (or realtor) ready to go the extra mile in order to provide you with the best result possible? Try to find an answer to this question, and you’ll know if you've hired the right person for the job or not.
Ana Crank is a world traveler, blogger, explorer and a full-time employee at bluebellmovingandstorage.com. Her area of expertise is everything real estate and moving-related, and her main goal behind writing is making sure that her readers find these articles informative and interesting.
|Posted on February 13, 2020 at 4:10 PM||comments (0)|
Just like any other, the commercial real estate market is affected by recurring trends. To determine the best places for commercial real estate investments in 2020, one must first understand those trends. Next, it is important to get familiar with the criteria that make a certain market a good place for commercial real estate investment. Finally, it is advisable to utilize every available resource making the search faster and fruitful, not to mention resulting in a favorable transaction. In the following article, we have discussed all three points.
Trends that affect the commercial real estate market
Even though investors can choose out of several types of commercial real estate, the available budget will help them narrow down their choice. To those with more limited investment funds, experts advise starting with multifamily complexes or industrial spaces. Those two types of commercial real estate are more affordable than retail and office spaces. Another noteworthy point regarding your investment budget is to understand how real estate agents are compensated so you can get the best of the deal. Once you get familiar with trends that affect the commercial real estate market, it becomes much easier to determine the best places for commercial real estate investments.
The most important factors
The factors that directly impact the market attractiveness for commercial real estate investments are
• Commercial growth
• Urban development
• The cost of conducting business
• The tourism industry
• The cost of living
• Quality of life
• State of public infrastructure
Commercial growth affects the demand for commercial real estate, especially if we take into account the relocations of major companies. Moreover, the development of the cities' business districts is also boosting the market's appeal. When it comes to the cost of business, things are pretty clear. Logically, companies will move into the cities with the lower costs of running a business. Commercial real estate also depends on the tourism industry as it offers significant growth potential.
Aside from the factors affecting the ease of doing business in a market, three more factors are tightly related. They are linked to employees that every business needs. Quality of life including the living costs will greatly influence the availability of workforce. Investment in public infrastructure has a vital role as well. For example, if you need junk removed after renovating your facility, it is more likely you will find it in a city with good quality communication and transportation systems. A city that invests in electric systems, modern-day technologies, and public transit will attract businesses more easily.
Criteria determining the best places for commercial real estate investments
Five important principles make the basis of a good market for commercial real estate investment.
1. Low unemployment is a sign of the job market with the likely need for new retail and office spaces.
2. The low purchase price is highly beneficial. It implies that there are properties available below market worth, such as commercial foreclosure properties or properties that require renovation and are sold with a discount.
3. The higher the rent prices, the better. Rents vary from city to city, so make sure you get familiar with the local asking rent prices. The bigger the difference between renting and purchase price, the higher the profit.
4. High demand for homes indicates a promising market attracting new residents and creating jobs where you can expect a rising demand for commercial real estate space.
5. Low vacancy rates combined with high tenant demand mean higher profit.
While it may be difficult to fuse all these determinants in one single market, the more of these criteria a market incorporates, the higher the return will be for investors.
The best commercial real estate markets for overall investment and development in 2020
On average, a slow but steady growth of the commercial real estate market is to be expected in 2020. However, to get a better deal from a real estate agent and higher profits long-term, you should hunt a suitable commercial real estate in a progressive market. Such markets and, thus, 15 best places for commercial real estate investments in 2020 include
• Atlanta, Georgia
• Austin, Texas
• Boston, Massachusetts
• Charlotte, North Carolina
• Dallas, Texas
• Denver, Colorado
• Houston, Texas
• Las Vegas, Nevada
• Los Angeles, California
• Minneapolis, Minnesota
• Nashville, Tennessee
• Orlando, Florida
• Phoenix, Arizona
• Raleigh, North Carolina
• Seattle, Washington
While different in so many ways, these cities have a few things in common. They all share an increase in the number of residents and jobs. Local major companies and industries are leading the economic expansion in these areas.
Resources helping you find the most suitable commercial property
Now that you know which locations are worth of your attention, focus on resources that can help you find a suitable commercial property.
One option is to browse one of the many commercial real estate listings sites. Finding the best investment opportunities has become much easier with platforms such as Quantum Listing, Spacelist, LoopNet, Ten-X, and others. The majority of those platforms allow users to browse free of charge, their search engines list different types of commercial properties and provide useful data analytics.
Also, note that you can influence a real estate rebate with the help of Park Place, the industry leader in the real estate referral business. They will use the data you provide them to conduct research and select a top real estate agent in the specified market. That real estate agent will rebate you back 15% of the total real estate commission through the affiliation, saving you a significant amount of money.
One doesn't have to be a high-class economist to foretell the future of a commercial real estate market. However, it is important to thoroughly research the trends as they are showing some surprising results. While prime business centers are currently safe spots for investments, up-and-coming cities will outperform them in the foreseeable future. This is due to the many new opportunities for investment in places with high growth potential and more attractive costs of conducting business. Finally, those who team up with an expert real estate agent and select a prosperous market for commercial real estate investment based on careful study are bound to make high profits.
Written by: Lisa Robert with US Moving Experts
|Posted on January 24, 2020 at 6:25 PM||comments (0)|
Whether you are in the process of buying or selling a property, you will inevitably have to deal with closing costs. And the best way to do so is to know exactly what you are up against. For this reason, we have listed everything you need to know about closing costs in Florida. After going through these points, you will be well-informed and ready to tackle this important real estate element.
The amount you will have to pay for them varies from state to state. When it comes to closing costs in Florida, the final price will depend on both the property and the county it is located in. However, as a buyer, know that you will have to cover most of the fees and taxes. Based on the latest statistics, you can expect to pay from 1.89% to 2.79% of the total purchase price before taxes.
Regarding the average closing costs in Florida
You can expect that the average closing costs in Florida will be 1.98% of the purchase price. At first, this may not seem like much. Howbeit, you ought to be wary. The amount you have to pay can quickly enlarge, especially if you are purchasing an expensive home. Namely, across the state of Florida, the average home costs somewhere between $200,000 and $300,000. So, if you buy a property in that range, you should expect to pay between $1,620 and $2,430 in closing costs before taxes. As you can see, these amounts are not to be underestimated or neglected, especially if you want to have a stress-free relocation to another city. You should also know that the things you are paying for through that amount include accounts for appraisal, settlement and recording fees, along with title insurance and flood certification. The latter is required by the state.
Additional fees that concern you include a fee for documentary stamps (doc stamps), which is a percentage of the sales price, as well as taxes. The ones that you are most likely to be a subject of are property and transfer taxes. After you have added those as well, your closing costs would approximately be $5,585.
Who needs to pay closing costs in Florida?
The closing costs in the State of Florida are divided between the buyer and seller. However, it is not an even split. Namely, the buyer is the one to handle the bulk of the fees and taxes. Still, the closing costs tend to slightly vary between counties. Whether you are buying or selling, it is highly recommendable that you have a real estate agent to guide you through the process. Know that you can always turn to us, as we connect buyers and sellers of real estate throughout the U.S. with a top real estate agent to rebate them back 15% of their commission.
How do Florida closing costs compare to the other states?
Florida ranks as the 16th out of 50 states for average closing costs before taxes. This makes the costs among the highest ones. Buyers and sellers in California, DC, and New York have it the worst. On the other hand, Iowa, Missouri, and Nebraska have the lowest closing costs. Take this into consideration if you plan on moving to any of these states. While the help of movage-moving.com will make the relocation easy and swift, it is the aftermath that you will have to think of.
What if you want to buy a condo or co-op in Florida?
Before we delve into the details of this process, we would urge you to think about finding a real estate agent to help you out. And, with Top Agent Rebate, you will have your back covered.
Buying a condo
It is necessary that you qualify for a mortgage prior to purchasing a condo. After you have bought an individual condo, you’ll receive a real estate deed and be held accountable for paying property taxes. Know that condos are regulated by the Florida Condominium Act, while the legislation lays out your rights to the property. It also gives you an “undivided interest” in all the common areas of the building. This means that you will have to pay a monthly maintenance fee or a yearly homeowners association fee. Its purpose is to cover the servicing that regards the areas that are classified under the “undivided interest”. Whichever fee you get to pay, know that it isn't tax-deductible.
The most important thing to understand regarding this sort of investment is that you won't own that physical piece of property. What's more, the best way to describe it would be to say that you are buying into a co-op. To put it simply, you will become a shareholder in the corporation that owns the building. In return, you will get an exclusive leasehold on your unit.
It is safe to say that the large your co-op unit, the more shares you own. In order to finance the purchase of a co-op, you will need to take out a home loan instead of a mortgage. Mind you, a mortgage is a loan that is secured with your property. As the borrower owns the property, he has to pay it off over time. With home loans, however, the lender advances the funds to purchase the property in full.
It is important noting here that the co-op ownership documents in Florida are not consistent across properties. This tends to cause confusion and make the closing on co-ops much more challenging. In certain cases you as the owner will simply get stock in the building. In others, however, you will get stock as well as a proprietary lease, or an “occupancy agreement.
What it comes down to
Closing costs in Florida can vary depending on where you live, the type of property you buy and how much it sells for. While the sellers tend to pay more than they are happy to, the buyers are the ones to cover the bulk of the fees and taxes. And these typically add up to 1.98% of the average sale price.
Written by: Lisa Robert with US Moving Experts
|Posted on January 17, 2020 at 3:55 PM||comments (0)|
House hunting in the area you have lived in is a difficult endeavor. So you can only imagine what buying a home out of state must be like. You don't have an opportunity to physically visit the property, tour the open houses, and get a chance to feel the vibe of the neighborhood during both day and night. It might seem like you are taking a leap of faith, hoping and praying that you aren't setting yourself up for buyer's remorse.
Now, it doesn't matter whether you are buying or selling a home in fall or winter, spring or summer - the prospect is bound to be a lengthy and challenging one. However, there are ways that can help you make it as easy as possible.
For starters, work with a local real estate agent
Working with a real estate agent when buying or selling a property is always the recommended approach. Especially when you are trying to start over in another state where you know absolutely nothing about the local listings. The buyer's agent plays an important role in purchasing a home out of state, as he/she will negotiate on your behalf and ensure you get the best deal. Furthermore, the buyer's agent will frequently e-mail you new listings that will include virtual tours of the house, helping you get a good perspective of what the property looks like.
If you think the process of looking for a reliable real estate agent too stressful and time-consuming, you can always turn to Park Place Realty Network - a company that successfully connects buyers and sellers with a top real estate agent with the goal of getting the agent to rebate them 15% of the commission. What a great way to make moving to a new state simple, easy, and cost-effective.
Attend open houses whenever possible
It goes without saying that, when shopping for a house in another state, you won't be able to attend as many open houses as would usually be the case. That still doesn't mean that you should put your signature on a contract without first having seen the house. That's because the virtual tour could hide many things the owners would not want you to see.
For example, the neighborhood might be a loud and catastrophic one. The roof could be outdated and in need of a replacement, and we all know how costly that could end up being. Finally, nothing will be able to compare with the vibe you will get from seeing a house in person. Do you know that feeling women have when they find the right wedding dress? Or the sensation you get after meeting your soul mate? Aim for the same feeling when buying a house, otherwise, you risk experiencing buyer's remorse. And that's not a situation you want to be in!
Create a list of your dealbreakers when buying a home out of state
The truth is that no matter how hard you try, finding a house that will be absolutely perfect will be difficult. There will always be at least one small thing you will want to fix or change. And that's completely okay and normal - as long as you keep in mind which things you absolutely can't compromise on.
For example, are you set on finding a house with three bedrooms? You should be aware that adding additional square footage to a house is a very, VERY pricey venture. So unless you are keen on spending tens of thousands of dollars, it would be wise to add an item such as this one to your list of dealbreakers.
Moreover, this list will also allow you to attend fewer open houses, and the ones you do attend will most likely be a success. Once a property checks off all of your requirements, it stands a good chance of being THE one. And it is a good idea to do the same thing as a seller. But instead of making a list of dealbreakers, make the one of what you are willing to fix, and what can be negotiated. Knowing what you want always makes everything easier.
Enlist the help of a relocation specialist
Have you ever moved before? Even if your move was just down the block, you certainly remember how difficult it was to pack up all of your belongings and transfer them safely to a new location. Now imagine if you had to move all of those boxes across the state borders! Hey, you might even have to move coast-to-coast, making this move extra hard on everyone involved.
So once you find a house you think is worthy of your family, don't hesitate to enlist the help of a relocation specialist. They can help you with all the moving details, and help you find the perfect movers. They are paid through vendor referrals and not by their clients, meaning their help to you will be completely free of charge. You can't deny that everyone needs some help from time to time and, if there is ever a time you will need lots of help, this would be it!
Don't be afraid to ask the 'stupid' questions
In fact, there are no stupid questions when it comes to buying a home out of state. Your house is probably going to be the priciest investment in your life, and the fact that you are purchasing out of state will make this venture extra risky. That's why you shouldn't be afraid to ask a million different questions as they ensure your safety to an extent.
For example, one question that is a must before closing a deal relates to the amount of the deposit. Depending on the seller and the property, the deposit can range from a few hundred dollars up to 10% of the value of the house. The difference is a huge one. So whether you sense that something is fishy or you are just curious, don't be afraid to ask as many questions as you have. After all, how else are you supposed to buy a property from afar? Because when buying a home out of state, questions are all you might have at first.
Written by: Lisa Roberts with US Moving Experts
|Posted on December 27, 2019 at 3:55 PM||comments (0)|
Investing in NYC real estate is always a risky business. Don't get us wrong though, this concrete jungle has a lot to offer for anyone who is willing to work hard and stay focused. But, dealing with real estate in New York is only for the more experienced investors. The trends, the demands, the values of real estate are always changing. And, to make it here, you need to be competitive and to know what NYC real estate is truly like. So, with that in mind, we will go over some of the most lucrative NYC properties for investment. With any luck, these properties should serve as a good starting point for your further research into NYC's real estate.
Some of the best NYC properties for investment
In order to make money out of NYC properties, you need to realize what NYC is all about. The Big Apple has people from all walks of life living and working here. Therefore, every conceivable type of property can be a good investment, if you know who you are going to be working with. But, there are certain types of real estate investments that tend to be safer and require less on-the-street knowledge.
Renting apartments to young professionals
Although the number of young professionals coming to NYC has declined over the years, it is still high. College graduates, especially ones with a degree in Finance or Law, come to NYC looking for work. And, if there is one thing that they'll need in order to make it here, it's solid housing. Well, this is where you can step in. Investing in apartments that are suited for young professionals is always a safe bet in NYC. Keep in mind that there are certain requirements that these apartments need to fulfill and you need to follow real estate trends in order to keep up with them. But, with any luck, you should have a steady monthly income from your apartment which is a good investment in anyone's book.
Another apartment type that the people of NYC seem to be crazy about is lofts. Our company tends to work quite often with young artists looking for a place in NYC to set up as their home and studio. And, as it turns out, lofts are almost perfectly suited for such situations. Keep in mind that New York is still considered the US capital of art. This is why it should come as no surprise that a lot of artists with ample finances come here to further their careers and develop their skills with other top artists. Therefore, lofts are easily one of the best NYC properties for investment. Whether you choose to rent or sell them during the winter, we have no doubt that you will soon make money out of it.
Flipping family homes
One of the more surprising things we've noticed is that the demand for family homes in NYC is slowly increasing. Up until now, most people chose to move to New Jersey once they planned to start a family. This made investing in NJ real estate a wise decision, as you were bound to find a family looking for a place to stay. But, now, smaller homes in well-off, family-friendly areas are growing more and more popular. Some parts of NYC are slowly turning away from the hustle and bustle of Manhattan lifestyle, and reinventing their neighborhoods into family-friendly communities. So, if you find a lucrative investment in such an area, be sure to give us a call and take advantage of it as soon as possible.
Commercial real estate
Having commercial real estate in NYC is one of the safest real estate investments you can make. But, finding one is truly a stroke of luck. Even if you have proper finance, and we connect you to the best possible real estate agent, you'd have to be really lucky in order to find such real estate. But, if you manage to find a decent commercial space in a good neighborhood, you will easily earn your investment back in a couple of years. There are always businesses looking for commercial space in NYC that is going to provide them with better conditions. And, seeing that there are many moving options in NYC, the actual relocation is easier than ever. Remember, NYC is always changing, which is what makes commercial real estate one of the best NYC properties for investment.
What to keep in mind when choosing NYC real estate
Unfortunately, simply knowing which are the best NYC properties for investment is not enough to make your investment pay off. There are a lot of factors that you need to take into consideration in order to spend your money wisely. Now, we will not go through all of the factors, as that deserves an article of its own. But, we will mention a couple of things that should make finding decent NYC property and dealing with real estate agents a bit easier.
When it comes to NYC, the neighborhood you choose to invest in is as important as it's quality. Even investing in a sub-par real estate property can have surprising returns, if the property is in the right neighborhood. So, with that in mind, you should get to know NYC a bit more before you start investing. Some of the properties we suggest you start with are:
∙ Yorkville, Manhattan
∙ Bushwick, Brooklyn
∙ Bedford-Stuyvesant, Brooklyn
∙ Forest Hills, Queens
∙ Sunnyside, Queens
∙ Woodside, Queens
∙ Elmhurst, Queens
These neighborhoods should give you the best "bang for your buck" as they are currently in development. Therefore, their value is estimated to increase in the following years, which is always a good predictor for investments. Nevertheless, keep in mind that this is only the tip of the iceberg of everything you need to know in order to make a proper NYC real estate investment.
Amanda Covington is a freelance writer that mostly focuses on helping people deal with real estate and moving. She's worked for over 15 years as a reliable writer for companies like Divine Moving and Storage NYC and helped them give insightful advice to anyone changing their home.
|Posted on December 27, 2019 at 3:35 PM||comments (0)|
When purchasing real estate, one of the crucial factors is to get the best possible price. Inexperienced people may often pay more, and saving money in these situations is extremely important. But, when it comes to saving money on real estate, what is the best approach? One of the most successful strategies is to negotiate real estate commissions. The goal of this article is to teach you how!
You are about to learn how commissions work, how to connect with the best real estate agents, and all there is about types of programs at your disposal. Let's begin!
The basics of real estate commission
If you do a little research, you will discover that becoming a real estate agent has its perks. There is good money in the business. One of the most common ways that real estate agents earn their salaries is through commission. It is important that you learn how the commission works because it will give you an insight into how to negotiate a real estate commission.
First of all, only a licensed real estate agent can receive a commission. That is good to know because it puts a certain amount of trust in people with who you work. Next, not all real estate agents receive the same amount. An agent who makes a hundred deals a year will get a better commission than the one who makes 10 or 15 deals. That typically reflects in a higher split towards the agents who have a better percentage of successfully closed deals.
So, if we have a real estate broker who has 10 agents working for the agency, they will calculate everyone's share at the end of the month or on a yearly basis.
Based on that, it is also important to know that all agents charge a different commission. Better services usually cost more, and that is normal. Nevertheless, you can still negotiate a real estate commission and get a good deal. You have area or neighborhood experts, agents who just started working, part-time real estate agents, the categories go on and on. That is why every agent charges a different fee.
Why agents may refuse to negotiate real estate commissions?
Every once in a while, you will run into an agent who will refuse to negotiate real estate commissions. At first, you might think that is not good business, but there are more angles to that story. If we take into consideration that not all agents earn the same, that commission is worth a lot to them. Furthermore, if an agent has a lot of work, he or she will also pass on the bargain since it can be a waste of time. If the money is good, and there are a lot of deals, there is no reason to negotiate, they set the terms.
Also, they might think that the word may spread around the neighborhood, and everyone will know that they are willing to negotiate. That means that everyone can get a lower fee.
Look for homes in a good area
One of the first advice I can give you is to look for homes in areas suitable for negotiations. Crowded cities with high prices are usually not suggested, but that doesn't mean that you cannot make a bargain even there. However, if you look for places in cities where the demand is lower, you might find a better deal. Today we will talk about Deland and Titusville.
Here you will find plenty of beautiful homes at affordable prices. Furthermore, Deland relocation can be fast and simple. When it comes to negotiating real estate commissions, Deland has a good dollar volume, market mobility, and ease of sale. All of those are crucial factors that will help you negotiate real estate commissions.
Another city suitable for negotiations is Titusville. If you are looking for assistance when trying to settle in Titusville, FL, it is essential to get ahold of a good real estate agent. You can do that in a couple of ways:
• research the internet
• ask friends and family for recommendations
• browse the real estate adds
• hire a real estate referral company
What is a real estate referral company?
Even though all of the listed options are useful, hiring a real estate referral company is my best pick. There are many advantages to real estate referral programs, and it is crucial to understand how they work. In simple words, referral companies connect buyers and sellers. If you are looking for a house to buy or sell, you can easily get in touch with licensed real estate agents, and see multiple house listings. These two things are crucial if you wish to negotiate real estate commissions.
Buying and selling at the same time
If you are looking to sell your old place and buy a new one, that is a good chance to negotiate. It is smart to have the same agent for both deals. That way, he or she will realize the potential of a good deal and may be willing to come down on the commission.
Let's say that you are looking for a new home. At the same time, you have a friend who is looking to sell. You can make a deal with your agent to get a lower commission for your deal if your friend signs a contract for his deal with your agent. By referring a friend, you are getting a better price. That is why it is crucial to find top real estate agents in your area.
Look for new agents
Another way to negotiate real estate commissions is to look for newer agents in the business. Since they are "fresh out of school", they may be willing to make deals in order to build their reputation and get some customers.
Staging a home and installing a lockbox
You should do everything you can to help your agent to make a deal. If you are able to vacate the place early, have it staged, and install a lockbox, they can visit at any time. And, it is a lot easier to sell a home wherein no one lives. In return, your agent might agree to negotiate on a commission.
Advantages of an off-peak season
Understand that the demand is lower during the off-peak season. If an agent can make a deal when there are no customers on the market, they will agree to all kinds of negotiations.
Always look for experts
If there is one thing I want you to remember from this article, that is to always look for experts. Agents who know the neighborhood and have a busy schedule are good at what they do. Sure, you can always talk to multiple agents, and go back and forth, looking to negotiate real estate commissions. Nevertheless, do not lose track of what is important. Lower commissions do not always mean better service!
Written by: Lisa Roberts with US Moving Experts
|Posted on December 20, 2019 at 5:50 PM||comments (0)|
It is every home seller’s goal to keep as much money as possible after the sale is finalized and all the expenses are paid. If you understand how agents are compensated, you know that the real estate commission is one of sellers’ biggest expenses. Therefore, lowering your real estate commission could save you a lot of money. We have a few tips and tricks that will help you get a better deal from a real estate agent, so hear us out.
Do not worry about the quality of service
Don’t be afraid you’ll get poor service if you reduce the amount you pay to your real estate agent. According to many studies, the risk does exist, but it is minimal. Most agents are not likely to lower the quality of their service simply because they are hungry for work and need the money.
Work with the right professionals
If you work with a reliable real estate referral company, such as Park Place Realty Network, not only will you be connected to the best agents in your market, but you’ll also get back 15% of the agent’s total real estate commission at closing!
Talk to a broker if the agent is hesitant to negotiate
Some real estate agents won’t be willing to negotiate. It is often because their employer pressures them to keep their fees high. If you come across an agent who is not ready to negotiate, skip them and go straight to the broker. The broker has the power to help you get a discount.
Do some of their work to get a better deal from a real estate agent
If you do some of the real estate agent’s work, you can get a better deal. For example, you can host your own open house. It can be an informal open house event you will invite friends and neighbors to. They can spread the word and bring their friends. Your real estate agent could provide information about the property in the form of fliers and brochures. If the visitors have any questions you cannot answer, you can rely on your agent. In case you want to sell your property to someone close (a friend, family member or renter) and the agent’s marketing skills are not required, you should be able to get a discount for sure.
Stage the property before an agent even sees it
Another option is reducing the real estate agent’s work on the physical condition of the property. When a property’s condition isn’t great, an agent has to work harder. In that case, they normally refuse to cut the commission. Therefore, do as much as you can to improve the curb appeal, as well as the inside of the house, before the agent sees it. This will get potential buyers excited about the property. You may even consider hiring a professional home stager if it helps you get a better deal from a real estate agent.
For example, spruce up the front yard, repaint the rooms, and do some de-cluttering. Dirty houses with dark, cluttered rooms are a huge turnoff. Remove large pieces of furniture, old appliances, etc. Learn how to find trustworthy billiard table movers and get rid of that huge item that’s taking over the entire room. Also, get rid of personal items such as family photos – buyers shouldn’t feel like they are intruding someone else’s home.
Vacate the home you are selling early but leave it staged
A home sometimes sells faster if no one lives in it. So, try moving without breaking the bank but leave the home staged and allow showings at any time. Since this is more convenient for a real estate agent, they may agree to give you a discount.
Choose a newer real estate agent
Opting for a newer full-service agent can help you get a better deal, too. They are often eager to please the client and may agree to a lower rate just to get more work and experience.
Recommend your agent to others
Let’s say you have a friend or family member who wants to buy or sell a property. Refer them to your real estate agent and they may lower their commission rate in exchange for your referral.
Allow a lockbox even if you still live in the house
Don’t worry. Only licensed agents will be able to access the lockbox, and you will be notified before a showing so you can leave the property. Your agent may pay their assistant to host showings so they don’t have to do it personally. This way, you can save your listing agent a lot of time and money.
Buy with the same agent
Those who are selling and buying a property at the same time can get a better deal from a real estate agent if the same agent is in charge of both transactions. Note that this might be written into your listing agreement. This means that, in case you later decide not to buy with them, you might be in breach of contract.
Sell multiple properties with the same agent
In case you are interested in selling multiple properties in the near future, your real estate agent may be willing to reduce their commission rate since they will be making money off more than one sale.
Sell the property in an off-peak season
Selling during the slowest seasonal periods can also help you get a better deal from a real estate agent. Finding an agent who needs work in the off season is a great way to get a reduced commission. However, there is a downside to this strategy - keep in mind that the pool of potential buyers is more limited in this period.
Claudia Murray is a freelance writer who covers a wide variety of topics, including moving and real estate. She spends most of her free time on the beach, playing water sports. Originally from California, she lives in Miami, Florida with her husband and daughter.
|Posted on December 13, 2019 at 5:45 PM||comments (0)|
If this is the first time that you are selling or buying a property, you have got so much to learn. You might even be confused by all the terms and conditions of the transaction. However, if you have already bought or sold a house, you might be a bit more familiar with the procedure. Since more and more people rely on the services of real estate agents when buying/selling, it is good to know how real estate agents are compensated. You will find out more about the rebating program too.
Almost 90 percent of buyers use the services of a real estate agent when purchasing a house. To be more precise, 87% of them bought a property through a real estate agent or a broker just last year. That is an increase of almost 20 percent when compared to the beginning of the century. We are looking at a similar picture with the sellers. Even 92% of them hired real estate agents to help them sell.
How many agents and brokers participate in a purchase?
Typically, there are six people taking part in the process of house buying/selling. Apart from buyer and seller, of course, there are two brokers and two real estate agents. Here they are:
• a buyer's agent - a person who is in direct contact with the seller, working in their best interest. He/she represents the buyer. A buyer's agent cannot work independently. They need to have a broker to work for.
• a buyer's agent's broker - a person that a buyer's agent works for. They are in charge of signing the contract with the seller.
• a seller's agent (also known as a listing agent) - a person who represents the seller. Naturally, he or she works for a broker too.
• a seller's agent's broker - a seller's agent's employer.
Both agents and brokers need to be licensed by the state for what they are doing.
Who else can take part?
Ok, now that we have described what a typical job distribution among the parties looks like, let's move on to some more options. There are some real estate referral companies, such as Park Place Realty Network, that can even rebate you back the part of their total real estate commission at closing.
Here's how it works. You approach them and ask to connect you with the top real estate agent in your market. Their database consists of 1 million real estate agents, so they will surely have at least one that fits you. After the agent helps you buy/sell a property and after the commission is paid to them, the agents will rebate you 15% of it. That is a significant amount that might even cover your relocation expenses and you can be moving to a new state with ease!
Real Estate Commissions - how real estate agents are compensated
The commission that the brokers are paid after the deal is made and contract signed is already agreed upon before the real estate agents start providing their services. That amount can be a flat fee, but more often, the commission is a set percentage of a listing value. The standard fee is 6% unless agreed upon differently. So, after the property is sold, the brokers are paid their commission. The next step is sharing it.
Sharing the commission
The commission is usually shared among four people - two brokers and their agents. Here are the steps:
• The listing is sold and the commission paid to the seller's agent's broker.
• Then the seller's broker shares it in half with a buyers' agent's broker.
• Brokers split their part with the agents, depending on the ratio already agreed upon between them.
Let's take a look at the listing worth $500,000. The standard commission fee for this purchase would be 6% which is $30,000. So, each of the two brokers gets $15,000. A common commission split gives 60% to the agent and 40% to the broker. That means that the agent gets $9,000 for the job performed, while the broker gets to keep $6,000. Now comes the fun part! If you took our advice and picked an agent from our Agent Contact List, you will get 15% of the total commission. Imagine what you can do with those $2,250!
The changes in how real estate agents are compensated
At the beginning of their career, agents are usually paid less than 60% of the commission. It often starts at 30%. As they get more experienced, their split grows and some of the best buyer's or seller's agents can even earn 100% of the commission if that's the deal they make with their broker.
Once again, even the most experienced broker cannot work independently and they cannot receive the direct payments from the customers for their services. On the other hand, brokers can work on their own - or they can hire agents. That being said, you should always double-check the brokerage before you sign the listing agreement. Buying or selling a house is probably one of the biggest decisions you will make in your lifetime. The choice of professionals who will relocate you to your new home is also a big deal. You will make no mistake if you opt for reliable companies such as homegrownmoving.com.
The cases when the commission has to be paid even though the transaction is not closed
The general rule is that the commission is paid only upon the settlement of the transaction. But, there are some cases when the seller is still obliged to pay even though the sale hasn’t been completed. These are some of the cases when the seller:
• changes his/her mind and refuses to sell the property;
• commits a fraud regarding the transaction;
• cannot leave the property in a timely manner;
• insists on something that is not contained in the listing agreement;
• makes a mutual agreement with the buyer to cancel the transaction.
Understanding how real estate agents are compensated is important when intending to sell or buy a property. That will help you plan your budget for the upcoming transactions.
Written by; Lisa Roberts with US Moving Experts
|Posted on December 6, 2019 at 5:20 PM||comments (0)|
When it’s time to think about selling your home, most Agents will tell you to put it on the market in spring or summer. While those seasons can help you find a buyer a little more quickly in some parts of the country, it is still possible to sell your home during the colder months; in fact, this is the time when only serious buyers are looking, so you know you won’t be wasting any time. The key is to stage the house well and to make sure the exterior is in great shape. Adding curb appeal can go a long way toward boosting your home’s value and attracting a buyer in a short amount of time. It’s also important to make sure you don’t go overboard with decorating, although adding some holiday appeal to the house can work in your favor.
Here are a few tips for selling your home during the colder months.
Find the right movers
Moving during the fall or winter can be tricky, especially if the exterior of your home has a lot of stairs or paths which can become treacherous when the weather gets nasty. Not only can it be dangerous, but it can also be difficult to keep your belongings safe and dry in the unpredictable outdoors. Finding the right moving company is imperative, as they should be able to work within your timeline and keep your furniture and other items in good shape no matter what’s going on outside. Some movers will even help you pack! Compare prices online and make sure you can find a company that’s right for your needs and budget well ahead of your move.
Stage it right
There are plenty of tips online for staging a home that involve quite an investment on the seller’s part, but you don’t have to spend a lot of money to make your home look appealing. Think about adding some curb appeal by trimming back shrubs — especially if the cold weather has stripped them of their greenery — and adding some mulch over any bare spots on the ground. Keep in mind that the colder months don’t have as much light as the warmer ones, so adding as much illumination to the interior of the home as possible is always a good thing.
Decorate with a light hand
Decorating your home for the holidays is always fun, but when it’s going on the market, it’s a good idea to take it easy with the seasonal decor. Ideally, a home for sale will be as depersonalized as possible, but during this time of year, it can actually work in your favor to make your home cozy. Think simple to avoid clutter, and use seasonal touches to make the house smell amazing for your potential buyers, especially if you’re going to plan an open house.
Keep it clean
It can be tricky to keep things clean during the colder months, especially if your town has had some bad weather; floors get wet and messy, sidewalks get slippery, gutters become full of debris or icicles. Trees lose leaves and branches and the lawn becomes a veritable mud pit after hard rains. Go around the exterior of your home and clean things up, and keep it maintained the entire time your home is on the market. If possible, create a small area in your foyer or mudroom to keep shoes and boots nice and dry and to encourage everyone to take off their footwear.
Selling your home during the colder months doesn’t have to be a costly challenge. By utilizing the resources at your disposal — such as online tutorials on how to properly stage the home — you can get it ready for sale without laying out a ton of money, and without all the stress that can come with putting a house on the market.
Written by: Suzie Wilson with HappierHome.net
|Posted on November 29, 2019 at 3:00 PM||comments (0)|
When it comes to investing in real estate, this is never a small decision. After all, even the smallest investment of this type can be incredibly costly to an individual. But regardless of whether you’re looking to invest in a commercial property, an urban dwelling, suburban project, or a beachfront cottage - you’ll find it all in the Garden State! And furthermore, we’ll provide you with a quick market overview, with factors pertinent to investing in NJ property!
State Of The Market
So, before investing in NJ, you must be wondering; what is this market like in the first place? Well, as you’ll be happy to learn; this is certainly one of the most energetic markets in the entire country. There are 52 different cities in the state, and each of these has a budding real estate market. A lot of people are buying and selling homes, as well as moving to new areas. Plus, a Trenton or Clifton relocation made simple by the fact that this level of real estate market development has lead to a budding moving industry as well.
What are some of the positive factors that you should keep in mind before investing in NJ property? For one - know that New Jersey has the biggest number of yearly foreclosures in the entire United States. And the revaluations of tax properties that have recently come into effect promise to make this rate even bigger. In other words, the revaluations may make property taxes a lot higher for many; particularly when it comes to the Jersey City downtown area. In this situation, a lot of the current residents may not be able to cope with these tax levels. So, any real estate investors looking to find distressed property owners and present them with an investment opportunity will be in luck!
On the other hand, the demand for rentals is also pretty high; if that’s what you’re looking to invest in, you’re definitely going to have your pick. A lot of people in the area can’t qualify for a proper mortgage, and more and more are turning to rental housing. Among the abovementioned foreclosures, many are multi-family homes. If you know what to repair and renovate, these could easily be turned into rental properties.
Other Factors To Consider
While investing in NJ property is definitely a good idea; you need to find a good real estate agent for that. Keeping this in mind, did you know that Park Place can hook you up with a top real estate agent in your area, who will give you a rebate for 15% of the commission? When you’re making a significant real estate investment, that portion of the commission is no small thing.
And speaking of top professionals - if you’re thinking about investing in the area, you should also know that the unemployment rate has fallen below 5% in 2018 - and it’s still going down! All of these new jobs that are being created in this region mean that a lot more people will be moving here; plus, there will be many renters as well. So anyone looking to make a real estate investment will have a good run in 2020.
Cons of Investing In NJ Property
Naturally, no area is perfect when you get into the details. And while this shouldn’t discourage you from investing in NJ property, there a few downsides to keep in mind. First of all, expert and upward push on prices; considering the limited supply and high demand.
And while the many foreclosures in the area do present a real estate investment opportunity, there’s another side to that coin. Ultimately, such high foreclosure rates herald issues in the local economy; with so many mortgages in trouble. That’s no wonder either, with the average rate for a 30-year mortgage being the highest it’s been in the past decade; with no signs of lessening.
Where To Invest?
If you’re looking at investing in NJ property, the real question is - where should you buy? After all, the Garden State is a pretty big place; meaning that not all areas are equally developed. Keeping that in mind, though; we recommend taking a look at Newark, Hoboken, and Jersey City itself. Forbes predicts that, over the next couple of years, the home prices in Jersey City itself will rise by more than 10%. That means that you could make quite a hefty profit by flipping a property, for example!
And while Hoboken is definitely in the top tier in terms of prices; it also has some of the most vibrant real estate markets in the entire Garden State. The demand for all kinds of properties in the area remains high; mostly thanks to its proximity to New York, new business developments, and a lot of great local schools. So, if you can find distressed properties that are going for a lower price, you can expect a great return on your initial investment.
Thirdly, Newark has a great reputation nowadays because its crime rates are the lowest they’ve been in the past half-century! With that in mind, many new businesses are sprouting up in the area. Plus, remember that Newark is directly connected to Manhattan. Because of this, many people working in the Big Apple are buying properties in the area.
As you may have realized on your own, investing in NJ property is a good idea, if you know precisely what you’re looking for. And if you utilize the Park Place realty network to find a great real estate agent, you’ll be sure to make a fine return on your property investment!
Written by; Lisa Roberts with US Moving Experts