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5 Mistakes To Avoid When Selling Your Orlando Home

Posted on by Jenny Zamora

When putting your Orlando home up for sale, avoid these common mistakes that can cost you valuable time and thousands of dollars!

If you need to sell your Orlando home, it’s important that you know what not to do so that you can avoid any unnecessary hang-ups throughout the sales process.

Your goal should be to sell your home quickly for the highest dollar amount. In order to accomplish your goal, you have to avoid these common mistakes.

From our own experiences at ORC, You’re about to find out what not to do when selling your Orlando home.

1- Pricing It Too High

Setting the listing price too high on a home is probably the most common mistake made by homeowners wanting to sell. This is completely understandable, especially if a homeowner has lived in the home for many years and has poured their own blood, sweat, tears… and especially money into it! Sometimes this causes the homeowner to think they have the nicest home on the block…even if it isn’t.

Pricing your home too high is a mistake that can cause you to lose valuable time and money.

The truth is that potential buyers couldn’t care less about how much work or how much money you’ve spent on the house. They just want to buy a house at a fair price.

Don’t go about setting the price on your own. Enlist the help of an experienced Orlando realtor to decide on a realistic price for your home. If you find that the price they suggest is too low to meet your needs, you should consider waiting for the market to go up a bit.

2- Choosing the Wrong Orlando Realtor

sell my orlando home

There are literally thousands of active real estate agents in Orlando. You should be aware that only a small percentage of them are actually well qualified to sell your home.

When choosing an Orlando listing agent make sure that they are experienced in your area, have been around for a while, have a good reputation, and are able to provide you with references from past clients.

Always be sure to interview several agents before making your final decision. This will give you the best chance at hiring a top Orlando Realtor.

3- Disregarding Noticeable Repairs

Some repairs are so painfully obvious that they should be completed before putting your home on the market in order to get the best price. Sometimes it’s hard for a homeowner to know what those repairs are because after a while, they just don’t see them anymore. It’s a good idea to ask your real estate agent to help you with this.

In addition to the obvious cosmetic repairs, make sure that you address any other more serious repairs that may not be so obvious. If you let the home inspector find it before you fixed it, expect the buyer to ask for a price reduction. Having your home look its best will definitely reflect in your sale price.

4- Not Keeping It Ready for Showings

This can be a serious issue when the home is owner-occupied. I’ve seen potential buyers get so turned off by a messy house that they don’t even want to do a full walk-through. This is bad and completely avoidable.

It’s best to keep your home clean and de-cluttered while it’s listed at all times. Hire a professional cleaning service if necessary. You may also want to consider renting a storage unit for large and bulky personal items so that buyers can walk through and experience the space and beauty your house has to offer without being distracted by clutter and dirt.

Also, if you have pets, make sure they are out of the house or crated at the very least during showings

5- Making It Hard To Show

When a homeowner is proud of their home, they sometimes feel the need to be present during showings so that they can tell the buyer all about their home as well as answer any questions. However, this can make potential buyers uncomfortable about walking through your house.

The best thing to do here is to have your agent do their job and show the property for you. Take a walk or go to the neighbors’ house while your house is being shown. The less involved you are in the showings, the more likely you are to get an offer.

When you decide to sell your home, you’re setting course on a journey with the destination being a successful home sale. Throughout this journey, you must remain patient and ready to do whatever it takes to make the sale. By following the advice of your Orlando realtor, you’ll be sitting at the closing table with a smile on your face in no time at all!

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6 Things Orlando Realtors Should Be Doing For Sellers

Posted on by Jenny Zamora

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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Hiring an Orlando Home Inspector

Posted on by Jenny Zamora

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

Posted on by Jenny Zamora

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.

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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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Visualizing A Home’s True Potential

Posted on by Jenny Zamora

For 1st time home buyers, searching for a dream home can be as exciting as it is stressful. Many times these buyers have a clear picture in their heads of what their new home will look like.

 

Don’t let the small stuff bother you

 

When you’re out house hunting with your Orlando Realtor, it’s important to keep an open mind or you could end up missing out on a sweet deal. Bad decorating, banged-up walls, and bright green carpeting are things that can be easily corrected and won’t break the bank.  

 

In today’s Orlando real estate market, 1st time home buyers are finding out quickly that they can’t be too picky if they want to get a good deal on a home.

 

Before you even start your search, you should get pre-approved by a lender so that you know exactly what the highest amount is that you can afford to pay for a house. Once you know how much you can afford be sure to only view homes that are within your budget.

 

Looking at homes outside of your budget can be disappointing or even worse… cause you to end up in a bad financial situation. It’s a horrible feeling to be unsure if you can afford to make your mortgage payment for the next 15 to 30 years of your life. It’s best to stay under your maximum budget when searching for your home.

 

If the home you find is in need of some repairs, It’s important to know how much these improvements will cost you before you submit an offer on the home.

 

Here are some guidelines to help you figure out when it’s worth repairing a home or if it’s time to move on to the next one.

 

  •  The Layout- There’s not much you can do about a bad layout without getting into some major remodel costs. 1st time home buyers shouldn’t even consider buying a home that is in need of major structural repairs.
  • The View- Again, not much to do here except change the window treatments. However, this still doesn’t change what you’ll see when you’re looking outside.
  • The Exterior- If the home doesn’t have a good curb appeal, it shouldn’t be a deal killer. Sometimes all it takes is a fresh coat of paint and some minor landscaping to make it pop.
  • The Walls- If the walls are covered in tacky wallpaper or an ugly color, don’t sweat it! Instead, try and picture what the walls will look like with your choice of the wall color. Painting is one of the cheapest and most impressionable things you can do to a home.
  • The Floors- Installing new flooring in a home can get expensive depending on what kind of flooring you use and how much work it will take to rip out the old flooring. Depending on your taste and your budget, this one can be a deal killer.
  • The Kitchen. Don’t be thrown by outdated appliances and color schemes in the kitchen. These things can be easily fixed with a fresh coat of paint and new appliances. However, if you want new cabinetry and granite countertops, make sure this is factored into your offer.
  • The bathrooms. Bathrooms are much cheaper to remodel compared to kitchens. However, if you can get away with just a bit of sprucing up without getting into replacing the tile and fixtures, you’ll be in much better shape.
  • Landscaping- The landscaping of a home should never keep you from making an offer. This is something that can be done little by little and best of all, you can do it yourself and make it your own design!

 

Before submitting an offer on an Orlando home, think about what want vs what you can’t live without. By doing this as well as knowing your maximum budget, you’ll be much better prepared for house hunting.

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