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6 Things Orlando Realtors Should Be Doing For Sellers

Is Your Orlando Listing Agent Doing Their Best For You?

As Realtors in Orlando, we have an obligation to our clients to do everything in our power to make the home selling process as smooth as possible.

We are the ones they are counting on, the home selling professionals. Most sellers expect their agents to be trustworthy and ready to fight to get the highest dollar amount for their homes. They also expect their agent to resolve any issues that may arise during the process….and there will always be issues…

The typical Orlando homeowner knows very little about the home selling process which is why it’s our job as listing agents to guide and educate our clients as things progress.

Agents that are lazy and only do the bare minimum usually don’t last long in this business because it doesn’t take long for the word to get around that they’re horrible agents to work with.

On the other hand, however, agents that do an outstanding job for their clients will enjoy repeat business and referrals because of their reputation as hard workers.

Some home sellers understand that not all agents are created equally. The problem is there are entirely too many agents that just plop a sign in the front yard and cross their fingers hoping for a buyer. Homeowners deserve better than this.

Orlando homeowners reading this article should try to understand that like in most industries there are the “movers and the shakers” just like there are the ones that just plug along doing the bare minimum. As far as businesses go, there’s an 80-20 rule which means that 80% of the work is done by 20% of the people. The same holds true for Orlando real estate.

This information translates to one thing… you have to choose your agent wisely because there’s a lot of room for disappointment. So how do you go about picking the right Orlando real estate agent to represent you? You have to understand what a listing agent should be doing for their clients.

The following is a guide to understanding what you should expect from your listing agent.

1- Pricing A Home Correctly From The Start-

It’s crucial to get this step right from the very start. A good realtor will start by preparing a CMA [comparative market analysis] and use it as a tool in determining the listing price of your home.

Avoid agents that promise to get you a much higher price just to get the listing. Agents that use this tactic are in violation of the Realtor code of ethics. This will also end up costing you valuable time on the market and If the home is priced too high, you will eventually have to lower the sale price anyway.

2- Marketing The Home-

Your listing agent should be an online marketing expert. It starts by taking some great pics of the home. By having a lot of quality images of your home, we can create awesome content to advertise your home via their website, blog, video, social media, press releases, postcards, and of course the MLS.

A top listing agent will also have automated systems in place to leverage their marketing efforts.

3- Good Communication-

A homeowner should be kept in the loop about everything that’s happening with the sale of their home. Far too often we get complaints from our listing clients saying that “the agent we used to have would never call us or was impossible to get a hold of when we had a question”.

A good real estate agent should keep in constant contact with their listing clients. Whether they have an offer to present or not, agents should provide you with at least a weekly update on what the status is with your home. There is no excuse for poor communication and sellers have the right to know what’s going on with their home at all times.

4- Qualifying Buyers-

A good listing agent won’t waste your time with buyers who have no chance of qualifying for a home loan. It’s your realtor’s job to make sure that all potential buyers are pre-approved.

5- Negotiating Terms-

Everything in real estate is negotiable and a good agent, when warranted, won’t hesitate to counteroffer with a number that favors their client. They will also negotiate contingency and closing dates when necessary.

Top Orlando listing agents will go above and beyond to fight for the best terms for their clients. This is what realtors get paid for. Great real estate agents will always, always put their client’s best interests before their own.

6- Closing The Deal-

There are a lot of moving parts involved with selling a home. With so many little details, your agent should be instrumental in getting all the loose ends tied up for you. The less work you have to do, the better. This is a good indication that your agent is on top of things.

The Orlando Listing agent that you choose to sell your home should put your needs before their own, even if it means they make less money. By referring to this article when choosing the right agent, you’ll have a much better understanding of what to expect from your real estate professional.

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TOR 030: The Kick-Out Clause Explained

When you’re selling a home, you may come across a situation where the sale is contingent upon the buyers selling the home they live in before buying yours.

Here are a few things we discuss in this episode…

So Exactly What is a right of 1st refusal or kick out clause?

Is it even a good idea to accept an offer like this?

You can accept an offer like this as long as you structure it correctly by putting a kick-out clause in the contract…if you don’t…..

The purpose of a kick-out clause is to allow you to accept an offer while continuing to market your home for sale.

Here’s how it works,…

In every instance, the seller was protected

Hit the play button up top to hear the full episode.  After listening,  Please take a second to write a review for us on iTunes.

And remember…Anyone can submit a question or suggest a topic for the show, just go to our site, fill out the contact form and write a podcast in the subject line.

Thanks for being with us, see you next week

Big Blues by Audionautix is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)

Artist: http://audionautix.com/

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Hiring an Orlando Home Inspector

Congratulations, you’re almost there! Your Orlando Realtor has just informed you that your offer has just been accepted. But wait!…. You’re not done yet.

It’s time to get your home inspected by a professional home inspector to make sure the house you’re about to buy doesn’t have any major defects that could end up costing you a small fortune down the road.

A typical home inspection should include the thorough inspection of the following:

  • Central AC system
  • Exterior and interior plumbing
  • Electrical system
  • Roof
  • Foundation
  • Insulation
  • Floors, walls, ceilings
  • Appliances
  • Termites

 

Once the inspection is complete, the inspector will then write up a detailed report about their findings as well as recommended repairs to correct the problems that were found. Once you have the report, you can then negotiate the repairs with the seller to either subtract the cost from the sale price or determine some other way to fix the problems.

Whenever making an offer on a home, it’s super important to have a contingency clause in place. Here’s why…. If your home inspector finds $20,000 worth of needed repairs and the seller refuses to pay or subtract it from the sale price, then you have the right to rescind the offer.

That’s why paying a few hundred bucks for a home inspection is well worth the investment.

 

How Do You Find A Good Home Inspector in Orlando?

You can start by asking your Orlando Real Estate agent. Your agent should be able to provide you with a list of credible home inspectors in the area. And just like when you’re hiring a real estate agent, don’t just pick the first one you come across. Speak to a few home inspectors from the top search results and be sure to check their online reviews.

 

Here are a few questions you should ask a home inspector before hiring.

  1. What exactly is covered in your inspection? Make sure the inspection report provided will meet all applicable requirements from your lender.
  2. How many home inspections have you completed? Try to hire someone with at least a few hundred inspections under their belt.
  3. How long have you been inspecting homes? It’s recommended to hire someone with a lot of experience.
  4. What’s your area of expertise? The answer should be residential.
  5. How long will the inspection take? The inspector should take at least 2 hours to perform a thorough inspection of your home.
  6. What’s the price of the inspection? A typical home inspection should cost somewhere between $300-$500 depending on the size of the home.
  7. Will you provide me with a written report? Ask to see a sample report to make sure you understand it.

 

 

In addition to these interview questions, you should be present for the inspection if at all possible. By shadowing the inspector and asking questions, you’ll gain a lot of valuable information about the home and probably some great maintenance tips as well. If the inspector has a problem with you being there, then it’s time to find a new home inspector.

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Top 5 Keys To Negotiating Orlando Real Estate

Regardless if you’re a buyer or a seller, you want to be successful in the Orlando marketplace. To accomplish this, you need to be prepared for battle…the battle of negotiating.

Negotiation is a multifaceted matter and each transaction is unique. It’s human nature for both buyers and sellers to feel like they got the better of the outcome.

In most Orlando real estate negotiations there is some bluffing involved, some give and take, and in the end… neither buyer nor seller gets everything they wanted, but both are happy with the outcome.

So how do you position yourself so that you can get the most from a real estate transaction? From our experience as Orlando Realtors, there are 5 basic things that will decide who gets the upper hand at the closing table.

Current Market Conditions

The Orlando real estate market is ever-changing. Sometimes we’ll be in a “sellers” market and other times we’ll experience a “buyers” market. If supply and demand are about equal, then the market conditions won’t favor either party.

However, if your home is located in a desirable Orlando neighborhood with very few sales, then as the seller, you’ll have a bit of leverage here. By the same token, if you’re a buyer who can pay cash and close quickly, then you, as the buyer will also have the advantage, especially if the seller is pressed for time.

Leverage

If you have a local business that’s about to go belly up and the whole town knows about it, including the buyer, then you’ll be at a disadvantage because they know you’re probably desperate to sell. On the other hand, if you’re one of eight potential buyers fighting over that very special property, then expect to pay top dollar because the seller’s securely in the driver’s seat which means that he can take his time to pick and choose the best price and terms for him.

Details, Details, Details…

You don’t always know if someone got a good deal on a home judging by the sale price alone. For example, if there are 2 identical properties for sale at $200,000. The homes are the same, the prices are the same, but are the deals structured the same? Not necessarily. The owner of the 1st house may have agreed to replace the roof and pay the first $2,500 of the buyer’s closing costs and the owner of house #2 made no concessions at all.

In this example, the person who bought house #1 actually got the home at a discounted price. As a buyer, you’d want to be buying house #1 and as a seller, you’d want to be in the position of the seller of house #2 because he gave up nothing.

Financing

From a seller’s perspective, it’s always better to deal with buyers that have been pre-approved for a loan. Although it doesn’t guarantee the loan, pre-qualified buyers will represent less of a risk to sellers than a buyer who’s never even met with a lender.

The good news for buyers with good credit, there are now loans available with 5% down or even less. As a matter of fact, one hundred percent financing and home loans with nothing down, are now being made more readily available by conventional lenders.

Orlando Real Estate Experts

Just imagine for a moment, that you’re involved in a major lawsuit. The other party has a top-rated lawyer that knows the law inside and out and you on the other hand are representing yourself. Who do you think will get the better of this transaction?

It’s the same with real estate. By hiring a top Orlando Real Estate agent to represent you whether you’re buying or selling, you’ll have peace of mind knowing that a top real estate professional is in your corner.

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