Category: News and Information

Don’t Let An Agent Do The Job Of A Short Sale Agent

Posted on by Jenny Zamora

I’ve heard it happen so many times, that a very good and well-respected agent was hired by the seller to short sell their home. The problem is that this agent was horrible at working with short sales and knew it!

This particular story made me very upset when I heard it. It was actually what we “short sale agents” refer to as a slam dunk… meaning a very easy deal as far as short sales are concerned.

It was a young couple that made a bad investment and they were now needing to complete a short sale on their home. The lender was SPS and there was only one lien to deal with. Short sale agents are accustomed to working deals with two to three liens sometimes. [as I said…this deal was a slam dunk!]

The couple researched top agents in Orlando and decided on a couple to interview. The problem was that they failed to include the keyword “short sale” in their search.

To make things worse, the agent accepted the listing anyway! Well, it wasn’t long after taking the short sale listing that the realtor realized she was way over her head. She had never experienced being bombarded by paperwork and other items that need to be addressed when completing a short sale.

Agents who aren’t used to the essential hardships of working with short sales will eventually start to flounder and give up… which is exactly what happened here.

By the time the sellers realized that the Orlando realtor they hired was completely lost on how to get a short sale approved, it was too late! The auction date was too close and the property was sold to the highest bidder. Now the sellers lost their home to foreclosure, still owe the bank a lot of money and they would’ve been eligible to get up to $10,000 back at the closing for relocation assistance if the property closed.

All of this happened because the agent thought they could easily do a short sale even though they’ve never done one before!

Attention Orlando Real Estate Agents!

Don’t accept a short sale listing, unless you know what you’re doing! It’s not OK to play with someone’s biggest investment and potentially their biggest loss. Short selling a home for someone is serious business and if you’re not experienced at doing short sales, at least be honest about it. Sellers should be allowed to make decisions about what realtors they choose to short sale their homes based on facts, not fiction.

As real estate agents, we all have our strengths and skills and it’s important for both you as an agent as well as a potential client to know what they are. If you find yourself struggling with a short sale listing in Orlando and don’t know how to proceed, give me a call at 407-902-7750. I’ll be glad to help you out!

As Orlando real estate agents, we took an oath to do what was in the best interest of our clients. Sometimes that can mean stepping aside and letting the experts handle it.

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Beware Of Agents That Talk Big And Come Up Short

Posted on by Jenny Zamora

Beware of Realtors Who Tell You They Can Sell Your Home For Higher Than Market Value

Any Orlando real estate agent promising to sell your home for higher than it’s worth is probably lying or just doesn’t have the experience to know what they’re talking about.

 This is a shady tactic referred to as “buying the listing”. Agents do this with the goal of luring the seller in with a much higher selling price than other competing agents. Then once the agent has the signed listing agreement,  they will suggest that you lower the listing price after a few weeks of your home not selling. 

Meanwhile, you’ve just lost a lot of valuable time on the market. Even worse, a potential buyer might see how long your house has been on the market and offer less than what they were going to offer originally.

If you’re a homeowner looking to sell your Orlando home, don’t fall for this trap. Talk to several real estate agents in Orlando and get property valuations from all of them.

If one of them suggests a listing price ten thousand dollars higher than the rest, then you can be sure that something’s wrong. You would be wise to only work with an agent that can show you up-to-date real estate statistics and good comparables for your home.

 

Interviewing An Agent Who Promises A Much Higher Price

  • Ask for comparables justifying the price they are suggesting.
  • Ask them to provide at least 3 recently sold references, then call each one.
  • Find out about the agent’s recent sales. Where there big price reductions?
  • How long did they sit before selling?

 

Real Estate in Orlando is a very competitive business and unfortunately some agents have no problem resorting to using dishonest tactics to try and get an edge on their competition. These types of realtors usually have very short careers in real estate because it doesn’t take long for their fraudulent ways to be found out. Once the cat is out of the bag it’s usually only a matter of time before they drop out of real estate all together.

What A Top Orlando Realtor Will Do For You

  • Prepare A Free CMA [Comparative Market Analysis] on your house. With a CMA in hand, they will help you to determine a realistic selling price.
  • Give you suggestions on how to make your home look it’s best for potential buyers.
  • Prepare a high-quality presentation including, photos and HD video.
  • Promote your home on all major listing sites in addition to the MLS.
  • Promote your home with a massive social media campaign and on their company website.
  • Install a lockbox and sign once the property’s ready to list.
  • Hold brokers’ and agents’ open houses.
  • Keep you up-to-date on everything that’s going on as it happens.
  • Stick with you every step of the way until the closing.
  •  

If need to sell your Orlando home for the highest dollar amount, then come see our Orlando listing specialists. Over the years we’ve developed relationships within the community as well as with other brokers and agents which allow us to reach the all of right people within minutes.

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Millennial Home Buyers Coming On Strong

Posted on by Jenny Zamora

It’s been said by many that the millennial generation, people born between the early 1980s to the early 2000s, will represent over $1.4 trillion in buying power as they come into the real estate market. This group of young adults is soon expected to account for the majority of home sales in Orlando.

Millennials represent the very first generation to be raised from birth in the “Age of Information” making them more technologically advanced than any generation before them. Their vast knowledge of technology changes the way they search for Orlando real estate and how they communicate with real estate agents.

With their mobile devices in hand, millennials are always on the go. That’s why it’s crucial that Orlando real estate agents be mobile-friendly in the tools they use to communicate and deliver information to them.

Texting is a good example of this, over 90% of this age group prefer texting over speaking on the phone. In a real estate market where timing is everything, it’s important to know what the fastest way to reach someone is and for generation Y, texting is it.

Successful real estate agents in Orlando are quick to determine what their client’s preferred method of communication is from the very start of the relationship.

Apps Vs. Websites

A recent study done by Annalect revealed that 57% of the millennial generation would prefer to have an app experience overusing a website. Almost 70% of these young homebuyers used either a tablet or mobile app when they searched for homes to buy.

Mobile responsive sites and home search apps make it quick and easy for people to find exactly what they’re looking for with a minimal amount of clicks. The convenience of it all makes it very appealing to Generation Y.

Millennials also use social media as a preferred method of communication and finding information. An independent study conducted among 2,000 millennials between the ages of 18 and 35 check their smartphones 44 times per day on average.

Orlando Real Estate Through Social Media

The major players in their world are Facebook, Instagram, Twitter, and Pinterest.  As social media surpasses search engines and online news feeds, smart real estate agents in Orlando are going with the flow by providing valuable content through social media sites making it easily searchable by Millennials.

Millennials are impacting the way any business is done, including real estate. To reach this powerful age bracket of future buyers, Orlando real estate agents need to use the same tools as they do. Those who don’t will be left behind.

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TOR 021: Do You Need Movers Insurance?

Posted on by Jenny Zamora

“Hello and Welcome to the Top Orlando Realtor podcast, if you’ve been here before, we are happy to have you back. I’m your host John Conde and today I’m gonna address a question we recently got from a listing client of ours.”

“After we sold her home in Hunters Creek she was moving to North Carolina and she asked us whether or not she should get movers insurance for her stuff.”

“So I thought it would make a great topic for the show since it’s not something people give much thought to when they move.”

ON THIS EPISODE…

Should You Get Movers Insurance When Moving To Another Home?

1- “Most people spend weeks and even months planning the big move, but they don’t think twice about insurance…”

2- “It’s important to know that Moving Companies Aren’t Liable for Damages…”

3- “Insurance provided by the moving company typically pays you between 10 to 30 cents per pound of anything that breaks…”

4- “Your homeowner’s Insurance usually covers your stuff as long as it’s in your house but once it’s on the truck then you’re on your own…”

5- “If your things aren’t worth insuring then don’t do it…”

6- “Filing a claim with your moving insurance provider is fast and easy…”

Please keep sending in those questions and topics for the show by submitting them to our website at https://orlandorealtyconsultants.com/ We’ll see you next time!

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Selling Orlando Homes To The Sandwich Generation

Posted on by Jenny Zamora

In an independent study done in 2014, over fifty-seven million Americans lived in multi-generation households 2013. That’s twice as much as in 1980! This rising trend can be attributed in part to families wanting to save money by sharing expenses.

The term “sandwich generation” comes from parents being sandwiched by their kids as well as their own parents. Although it’s not something I would ever do personally, many people not only enjoy saving money, but they actually enjoy being surrounded by their parents as well as their kids every single day…[I know, I don’t get it either]

From my own experience as an Orlando realtor, I’ve witnessed this trend firsthand. Now more than ever I’m seeing multi-generation families buying homes together. It can be a bit challenging when there are more than one or two adults involved, especially when they all have different opinions and tastes.

Finding The Perfect Orlando Home For A Multi-Generation Household

Starting with a family meeting is always a good idea. By speaking with all the adults at the same time we can determine what the specific needs are for each person and consider what options would work for everyone involved without having to make assumptions.

As the buyer’s agent, I must consider things like the floor plan and find out if they prefer an open floor plan or would a home with more distinctive living quarters for more privacy. With the older generation, second-story bedrooms can also be an issue if they have trouble climbing steps. Wheelchair accessibility may also be a concern for some families.

The location of the home must also be carefully considered. If grandpa needs to see his health care physician 3 times per week, they may want to be close to a hospital or public transportation. The same goes for the little ones, where will they be attending school? Does anyone play sports? How far are the parks?

Finding the perfect home for a multi-generational family can be challenging and usually takes much longer than finding a home for a single-family. However, if I wanted to be in a profession that was easy, I wouldn’t have chosen to become an Orlando real estate agent.

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