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8 Things You Should Expect From Your Orlando Realtor When Selling

REALTORS Must Be Creative

Selling your home can be roller coaster of emotions if you aren’t mentally prepared, especially if you’re living in it. It means that you have to keep it showroom ready for any stranger with a pre-approval letter to take the ten cent tour. Then you stress about if they liked it or not… then you think to yourself….why didn’t they like it??  These are just a couple of examples of what some sellers go through.

Oh, and what about hiring an Orlando realtor to sell your home?… With so many agents out there, how do you know you hired the right one for the job? Just in Orlando alone there are over 8,000 active real estate agents!

 

The scary thing is that unless you do your research, you have no idea what their skill set is or their level of experience. Just last week I was visiting with a friend who owns a real estate school and she told me that every one of her classes are full… all of the time. Since it’s relatively easy to obtain a Florida real estate license people are clamoring to get one.

Many new agents believe that once they have their license, then the listings will automatically start falling into their lap. The truth is that only a small fraction of Orlando realtors are top producers, a good amount of average agents and the majority are so bad that they have no business being in the real estate business…but they are… so choose carefully.

 

So what should you expect of your Orlando realtor when selling your home? Your agent should be doing and practicing the following 10 things. If not, then unfortunately… you probably hired one of the bad ones.

 

If you are still searching for your Orlando realtor then use this 10 point guide to make sure you hire a hero and not a zero.

 

1- Honesty Is Their Policy

An honest agent means that they will always be truthful with you, even if it hurts. Honesty is also included in the REALTOR code of ethics. The problem is that sometimes you just don’t know just by meeting them. I’ve met some amazing liars in my time and yes…some of them were shady real estate agents. The truth will always come out …. eventually, the trick is to find out just how honest they really are before you hire them. You have to do your research before you commit or it will be too late.

 

Written testimonials aren’t enough. For all you know, they may have written their own testimonials. Ask them to provide you with some contact information of a few of their most recent seller clients and start reaching out to them and ask about there experience with Mr. Realtor. This will help you to separate the closers from the posers…

 

If they aren’t able to provide you with this information, then it means their clients aren’t willing to say anything nice about them or they don’t have any recent clients. Neither one of these reasons is a good thing and should be considered a deal killer.

 

 

2- Professionalism

Most homeowners assume that all real estate professionals are just that… professional, unfortunately, it’s just not the case.So how do you you know you’re dealing with a true professional? It starts with their appearance. Are they well groomed? Well dressed? A realtor who shows up in acid washed ripped jeans and a tiee die t-shirt probably won’t be taken seriously by a prospective buyer… or anyone else for that matter.

 

Being punctual is also a big part of demonstrating professionalism and shows that they respect the time of other people. I can’t tell you how frustrating it is to schedule a private showing for a buyer only to be left waiting on the front door step for the listing agent to show up.

 

A seller should expect the same of the realtor they hire to represent them and their home. If I set an appointment with someone and they show up late without a good excuse, then they’re pretty much done in my book. Anyone who doesn’t respect my time , doesn’t deserve my respect.

 

 

3- A Skilled Negotiator

A listing agent’s job is to sell their clients home for the highest dollar amount possible in the least amount of time…period. Therefore they have to be skillful negotiators in order to be effective. They have to know what to say to the buyers agent and know how to say it. Reviewing offers and countering offers is a true art form and you can’t appear too eager to lower your price. Sure… it’s ultimately the sellers decision but a good negotiator should advise the seller on what the next move should be.

 

 

4- Creativity  

Selling a home is not just plopping a sign in the front yard and praying for an offer. Although many real estate agents swear by this technique. Sometimes they will even bury a statue of St. Joseph in the front yard….Yup, that’s a thing!

A good realtor knows how to market a listing. Each home has it’s selling points or lack of and they need to know how to bring to light the best of the listing and even make the bad stuff sound appealing. Everything from the angle of the photos to the copy in the descriptions must be considered and marketed in the best light possible.

At ORC, we create a unique video for each and every listing. Everything from the script to the photos and even the music is carefully chosen to create the biggest impact. I would have to say that creativity is probably the area where most realtors are lacking. Everyone seems to do the same thing over and over.

 

5- Experience

It’s true, there is no substitution for experience and being battle tested. Homeowners commonly make the mistake of not researching an agent’s past results and instead hire an agent because they are a friend or a relative…. BIG MISTAKE! This is not the time to hire your niece that just passed her state exam two weeks ago. Find out how many transactions they’ve closed recently and how their clients enjoyed working with them.

 

You should also be wary of the agents who say “ I’ve been doing this for thirty years” sometimes these agents are even worse than rookie agents because they may have the same mentality they did 30 years ago. Real estate is ever changing and you must have an agent who is up to speed on how real estate works today.

 

6- Have a Team

 

A great Realtor will have a team of professionals that they work together with like a well oiled machine. From a good mortgage broker to the best title company to a list of qualified appraisers, contractors and home inspectors. This makes the whole process come together like clock work and can make selling your home a pleasurable experience.

 

7- Be A Good Communicator

 

There’s nothing I hate more than working with someone with poor communication skills. If I leavre a message, I expect a call back. If I send an email I expect a response. If I ask a question I expect an answer. A good realtor will keep their listing clienbt in the loop evry stepof the way throughout the entire process all the way to the closing. Selling a home is stressful enough as it is and if your agent is keeping you in the dark about what’s going on it just adds to the stress.

 

 

8- Internet Presence and Technology

 

These days realtors have access to some pretty powerful tools that helps with everything from lead management to marketing a property to the right buyers with just one click of a mouse. Some realtors avoid using the latest technology because they are afraid of learning something new when they should be embracing it and using it to it’s full potential. Technology exists so that we can be more efficient in everything we do. Realtors who refuse to get with the times will ultimately get left behind because there’s just no way they can compete in today’s market place.

 

Tech savvy Realtors will also have a strong internet presence from a state-of-the-art website to being active in the most popular social media sites. Having a blog [like this one] should be a given. Having a library of informational videos on their own Youtube channel is also a good sign. A few Realtors will even have a podcast so they can cater to people who prefer to listen as opposed to watching a video or reading an article.

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REO Homes in Orlando Trendy Once Again

Once considered a blemish on the Orlando housing market, short sales and REOs are a painful reminder to some people of the housing decline. Orlando Realtors say many real estate investors looking for big discounts are transforming these once unwanted homes into big paydays by using the fix and flip approach while others prefer to collect a monthly rent check.
Real Estate Agents in Orlando report that distressed sales are a strong indicator that many homeowners aren’t out of the woods yet. In fact, our own inventory at Orlando Realty Consultants consists of 35% short sale listings which are up 10% from July of 2015. It would also appear that lenders have recently released another load of REO listings into the Orlando real estate market.
So what does it all mean? It means that distressed saturation continues to be a defining factor in today’s housing market. Even the “traditional” housing market consists of a reported 30% distressed property listings. This tells us that Orlando’s short sales and REO listings are not a passing fad.

stop foreclosure

That’s why we need investors, both rehabbers and landlords in the food chain of real estate. Imagine what the Orlando real estate market would look like if all of a sudden if all the local real estate investors were to pull out and stop buying homes. It’s a scary thought because the majority of home buyers are retail buyers who want nothing to do with fixing up a property. Neighborhoods across Orlando would steadily decrease in value among a sea of ugly homes as far as the eye can see.

Orlando real estate investors like myself sometimes get a bad rap just because we come away from a deal-making a few bucks, but the truth is that without active real estate investors in Orlando or any other city in the US. The real estate market would be on a steady path of decline…

Orlando’s distressed saturation levels are in the upper 20th percentile of the nation. Of course, some parts of Orlando have a much lower percentage of distressed properties than others.

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Home Inspections

A home inspection is a very important part of the home buying process. Some buyers will try to avoid paying for one to save money. This decision can turn out to be a very costly one.  As your Orlando Realtor, I always recommend, better yet insist on one. Can you imagine closing on your new home without an inspection to find out the week after you move in that the AC unit and water heater were not working properly? Oh no! This alone will cost thousands of dollars in repairs.

Your Orlando Realtor will have a specific number of days to order the home inspections, this will be disclosed on your executed sales contract. The typical timeframe is 7-15 days from the date of acceptance.

It is crucial you complete the home inspection, you want to know as much as possible about the home before you purchase.

Another necessary home inspection is a WDO (wood destroying organism) termite inspection.  Visible wood rot is usually a sign of termites. In some cases, this is easily corrected. I recommend this, especially in older homes. You might also want to get a termite bond.

Once all home inspections are completed you will receive a thorough report detailing all items that need to be addressed. Whether it be that it needs to repair or replaced or maybe just needs maintenance. You will have enough time to review and discuss any repairs with your Orlando Realtor.

Quick story, I had a client that insisted he did not need a home inspection as the home had been completed remodeled by the sellers and they had checked everything themselves, so I had to leave it alone after weeks of trying to convince them. A few days before closing we go back to complete the final walk-thru, not only were none of the appliances working but all the windows have been shut closed with screws. What a disaster.

Fortunately, the sellers were very understanding and corrected all issues. This is not always the case…

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TOR 032: Most Common Reasons A Loan Is Denied After Pre-Approval

Some people think once you’ve been pre-approved for a mortgage then they’re good to go and they have nothing to worry about… This is not true!

Take a listen to today’s episode of the Top Orlando Realtors Podcast and find out how and why a potential home buyer can be denied a mortgage… even after they’ve been pre-approved!

So These are the most common reasons people get denied a mortgage… after they’ve been pre-approved.

– A Change in Loan Requirements

– Taking On More Debt

– Changing Jobs

– Negative hits on your credit

– The Appraisal Comes In Too Low

– Fraudulent Documentation

After listening to our show today, if you still have questions about mortgages and how you can give yourself the best chance at getting approved call us at 407-902-7750 for a free consult or visit our site. https://orlandorealtyconsultants.com/

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Orlando Real Estate, Buying And Selling At The Same Time

Many times the conversation of the right of first refusal and property sale contingencies appear when homeowners are selling and buying at the same time.

Most of the time it’s because buying a second home is impossible without first selling the house they live in.

This is where an experienced Orlando Realtor comes in and explains to people how it all works…

Here’s an example… In our area of Central Florida, it’s pretty unusual for a homeowner selling his home to even consider accepting a home sale contingency because right now it’s a seller’s market.

It’s important for buyers to be aware of the local real estate market so they don’t waste a lot of time looking at homes before selling their current homes.

A seasoned Orlando realtor will let potential buyers know in the first conversation that it’s close to impossible to buy a home with a home sale clause. This will save a lot of time and headaches for both the buyer and the agent.

Be Realistic

If you’re not in a position to buy and sell at the same time, then don’t even try! Your primary focus should be to sell your current home first. Some people get so caught up in worrying about becoming homeless, that they will try anything to avoid it… even cheating the system!

From a seller’s standpoint, it’s even worse. Some sellers will actually make selling their current home subject to finding another home. Big mistake!… If you were a buyer, would you put a contract on a home that is subject to the seller finding another home first??… I didn’t think so.

Work With A Top Rated Orlando Realtor

If you’re the type of person that worries about having a hard time selling your current home and you’d like to explore the possibilities of including a contingency sale on the contract, it’s highly advisable for you to hire an experienced real estate agent to make sure that you’re protected.  A good real estate agent will help you to understand what options are available to you and help you come up with a plan of action to meet your specific needs.

Your agent might tell you that a right of 1st refusal is exactly what you need or to avoid it until the right buyer comes along. Keep in mind that ALL real estate is local and the market in your area will dictate what you can and can’t do. A skilled real estate agent will guide you through the process as well as make sure that what you sign is in your best interest.

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