Tag: orlando listing agents

Is your Orlando Realtor a part time Real Estate Agent?

Posted on by Jenny Zamora

Many Orlando Realtors have second jobs

The Income and business of Orlando Realtors is said to be growing after many years of decline, according to the 2012 national association of realtors member profile the median income of a realtor rose 2.3% to $34,000.00 in 2011, which is the first overall gain in over nine years. Licensed brokers typically earned $48,400.00 in 2011, while the median for a sales agent was $27,200.00.

My first reaction when I read this was shock and disbelief. Then I realized that many Orlando realtors only work part time as realtors. Agents that earn such a low income from buying and selling Orlando real estate have other obligations and other employment that has nothing to do with being an Orlando Real estate agent.

In my opinion, there is no way that you can be an Orlando Real Estate Broker part of the time and be successful. To be a successful Orlando realtor you have to absolutely love what you do. And if you don’t love it, guess what, your clients will know.

Personally, I can’t see myself doing anything else but being an Orlando Real Estate professional. I love Orlando and I love helping the people of Orlando with all their housing needs both Sellers and Buyers, especially distressed sellers that need are in need of an Orlando Short Sale Expert. There’s no greater satisfaction in this world than to know that you’ve helped someone to get out of a huge problem and get on with their life.

If you love being an Orlando Realtor, you’ll never work a Day in your Life

NAR [National Association of Realtors] members that have been in business for 16 years or more are averaging $50,200.00 per year…[16 years!!?]. To be a broker for 16 years and only making $50,200.00 doesn’t make much sense to me either. If you put all all of your effort into being a great Orlando realtor for that many years you should be making a much larger yearly income.

I think what happens to some agents is that they start losing their love for being a top realtor and they just stop trying their best. Once this happens in any occupation it starts getting to the point that you actually start hating your job and just kind of go through the motions as opposed to doing your job with passion and enthusiasm.

I personally have had agents working for me that I’ve seen this happen to. It doesn’t mean that they were bad people, it just means that they weren’t cut out to be a top Orlando real estate agent. Life is just too darn short to do something that you really don’t like to do.

Top Orlando Brokers and Agents

Orlando real estate Brokers and agents putting in over 60 hours per week earned around $81,000.00 per year with only 17% of realtors earning over $100,000.00 per year. These are the go-getters that put 100% of themselves into what they do and love every minute of it.

Being a super successful Orlando Realtor means living your life at a frantic pace and it seems you are being pulled in a hundred different directions because everyone wants a piece of you… It truly is a Great feeling!

 

Jenny Zamora, Lic Orlando RE Broker

 

 

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Domestic Tourists Agressively Buying up Orlando Realty

Posted on by Jenny Zamora

Record numbers in Orlando Tourism is contributing to the shortage of Orlando real estate.

 

Increasing numbers of domestic tourists are buying up Orlando properties creating a noticeable decrease in nice Orlando homes. Who could blame them? This is a great place to live and even better place to visit. It seems everyone wants their own little piece of Orlando Realty. The majority of tourists that buy Orlando Real estate, intend to use these properties as vacation homes or second properties.

Orlando is considered to be the world’s top destination for families.

The theme park capital of the US attracted over 55 million visitors last year.  As a matter of fact, Orlando beat out New York to be the first tourist destination to attract more than 50 million visitors in a single year.
Thriving tourism means more demand for quality Orlando properties, especially for the neighborhoods located close to the theme parks like Disney World.  Although some people choose not to rent out their vacation home most people do. Homeowners are cashing in on the Orlando short term rental market. Since Orlando never really has a low season, savvy out of  state landlords are able to pull in a steady stream of income all year round.

So what does these mean for the future of Orlando real Estate?  Increased sales means a continued stabilization in Orlando realty and I really can’t think of a downside.  We can only assume that this will translate into an even higher sense of urgency for potential Orlando home buyers.

 

 

Jenny Zamora, Lic Orlando RE Broker

 

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Orlando Realty Sales being affected by Bad Appraisals

Posted on by Jenny Zamora

Orlando Real Estate Sales are being affected by appraisers who fail to recognize appreciation

With the current Orlando Real Estate market on the rise, appreciation has become an actual factor again. It’s very common these days for an Orlando property to receive multiple offers on it thousands of dollars above the asking price, especially in the more desirable Orlando neighborhoods. One of the problems we are seeing here is that appraisers rather than taking into consideration the recent appreciation of a property, are just looking at the original listing price and are trying to get as close as they can to it.

The big problem with that is, if the house doesn’t appraise for the contract price, then the bank won’t finance the deal. At this point, there are three things that can happen.

1- The buyer can make up the difference by bringing cash to the transaction  [This hardly ever happens]

2- The buyer will want to change his or her offer to the “appraisal value”, however the seller now believes their property is worth more than the original listing price and will refuse to go down on the price.

3-The deal falls apart and the process starts all over again unless the buyer can get a different lender or appraiser or both to try and make the deal go through.

Any way you choose to look at it, bad appraisals are affecting Orlando Realty sales.

Are Orlando Appraisers afraid of history repeating itself?

Back in 2004 through 2006, many appraisers ended up in deep trouble because of overinflated appraisal values.  Things were soo crazy back then that it was common for Orlando Real Estate Investors to tell their appraisers what value they wanted the property to come in at and that’s what it would come in at. Everyone was making soo much money that nothing else seemed to matter.  Fast forward to 2007- The doo doo hits the fan. Appraisers among other people in the industry such as mortgage brokers, etc. ended up in serious legal trouble for fraud.  Inflated appraisal values, bad loans, illegal kickbacks, you name it, and any real estate professional with a license was getting in trouble for it.

I don’t blame appraisers for being extra cautious about not turning in inflated appraisals. That being said, I think that some appraisers are going to the opposite extreme now and are under appraising properties which are having a negative effect on Orlando Home sales.

Here’s a tip on dealing with the appraiser

Make sure the agents on both sides of your transaction have created a CMA [Current Market Analysis] that demonstrates how the market has changed in the past six months or less. Then make sure the appraiser gets a copy.

Your sale or purchase doesn’t have to be jeopardized simply because the appraiser doesn’t have — or chooses not to collect — all the relevant recent facts.

Jenny Zamora Lic Orlando RE Broker

Jenny Zamora Broker

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Is Now a Good Time to Sell your Orlando Property?

Posted on by Jenny Zamora

Right now may be the best time to Sell your Orlando Real Estate

If you are an Orlando homeowner, you may be asking yourself, ” Should I put my house on the market now, or should I wait another six or eight months?

Here’s what I think, The inventory for Orlando Realty has decreased dramatically. This means that Orlando real estate values have increased and buyers are sometimes having to go through bidding wars with other home buyers to get the home that they want. The fact is that buyers just don’t have the power that they had 2 years ago and they know it.

Here’s what I suggest; Contact an Orlando realtor who is experienced in your neighborhood. The agent should be able to pull data showing you recent sales [within the past 2 or 3 months] and tell you how much your house should sell for within what time period. The best part is that  Consulting with  an Orlando Realtor doesn’t cost you anything and there’s no obligation. You can get a feel for what the market will give you before making a commitment. You have nothing to lose.

Make Sure You are selling your Orlando Property for the Right Reasons

If you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want.
If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

It’s always good to know how low you will go on your Orlando Property, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.
Once you know what your limits and reasons are, discuss them with your Orlando agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so they can be met.

Finding the Best Orlando Realtor for You

I you’re in the market for an Orlando Real estate expert, check out 9 critical things you need to ask a realtor. 
By following what is outlined in the list, you will have a blueprint on hiring an Orlando agent that will work for you.

 

 

Jenny Zamora Lic Orlando RE Broker Since 2005.                                                                                             Ask me anything, I’m here to help.

 

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9 Critical Questions you Must ask your Orlando Realtor before Listing your Home

Posted on by Jenny Zamora

Listing your home with the wrong agent could cost you Big Bucks

Most people will only sell a home a handful of times throughout their whole life. With limited or no experience in Orlando real estate it’s hard for someone to know how to maximize their profits from the sale of their home. Unfortunately, many homeowners make the mistake of thinking that all realtors are the same. They list with the first realtor that comes along without doing any research on that person and it ultimately ends up costing the seller thousands of dollars. The following information will help you to decide which Orlando realtor you should choose to sell your home for maximum profit.

Always Start with Google

Like pretty much anything you do these days, you start by typing your search term into Google and see what comes up. Most of the time you can find out anything you need to find out just by doing this. Once the list of Orlando realtors comes up, pick the top ten search engine results and write down their information. From these top ten agents, you should use the following questions to decide which is the right agent for you.

1.    Could You send me some information about yourself?   By asking this  question you can learn a lot about this realtor. Ask them to see some of their marketing materials such as; postcards, ads, internet ads, etc. Also, pay attention to how long the agent takes to get back at you. If it takes a Orlando realtor 24 hrs or more to get back to you after you’ve left them a message then you can expect them to take at least that long to follow up with a potential buyer for your house.

2.    How many Orlando properties have you listed and sold in the last six months?   You want an Orlando agent that has experience in selling homes in the area where your home is located. By knowing the number of houses they’ve listed and the number of houses that they’ve sold within the same time period, you can get a good idea of what kind of results to expect.

3.    What is the average length of time that it takes you to sell home?   See what they tell you, then verify it. An Expert in Orlando real estate will know exactly at what price to list your home at to sell quickly for the highest price that the market will allow. The agent that you choose should have a good record of selling homes, not just listing them.

4.    How long have you been in business?   Going by how long an agent has had their license is not a good way to find out how good of a home seller they are. There are many “part time” agents that have been licensed for ten years or more, but I will choose a “rookie” top producing agent any day over a realtor that has to do something other than  selling Orlando real estate to make a living.

5.   Do you have any employees or an assistant?    Top  Producing Orlando Agents will almost always have at least an assistant. A lot of things involved with selling real estate are tedious and very time consuming, especially when you’re negotiating a short sale. A realtor with an assistant is typically a sign of a successful realtor.

6.  What listing price would you recommend? And how did you come up with that number? Pricing a house right from  the beginning is absolutely critical. The price should be realistic and a Keep in mind the selling price should attract prospective buyers to your home, get you top dollar in the current market and reflect the condition of your home. Be realistic and avoid ‘yes agents’, who will say ‘yes’ to any request or price while your home languishes on the market. Lowball agents will try to talk you into an artificial price simply to sell as fast as possible.

7.   What does your listing agreement entail? ,  when does it expire and what fees will I have to pay if you are successful in selling my house? – Have your agent go over every detail in the listing agreement with you until you understand it completely. Make sure the beginning and ending dates are on the agreement; a good standard for length is three months. Know exactly what fees you will be paying and remember that less is not always better. If the agent stands to make very little commission you can bet it will be reflected in the amount of time and effort that is spent marketing your home. If the agent reduces their commission to get the listing it may mean they intend to spend very little money promoting the property. The normal commission is between 5 and 7 percent.

8.   How do you market your Orlando properties?  How much is your Orlando realtor going to spend on advertising this property? What are the different methods or strategies do they use for marketing their properties? Do they have a strong internet presence? Beware of agents that will do nothing more than list your property on the MLS…and that’s it. Agents who are aggressive and innovative with their marketing will always outperform agents who only rely on methods of the past.

9.   Can I see some testimonials from your past clients? Any top producing Realtor should have at least a dozen testimonials from past clients and should be happy to show them to you. If the agent can’t produce any, then you should end the interview right there and continue searching for the right agent.

I hope these questions will help you to find the right realtor for you. As always ask me anything, I’m here to help.

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