Tag: Orlando Real Estate

A Seller’s Guide to Interviewing an Orlando Realtor

Posted on by Jenny Zamora

So, you’ve finally made the decision to sell your home and you’re ready to hire a realtor. Now what? Well, that’s easy, right? Just hire the first realtor you come across in your area… Wrong!

Hiring the right Orlando realtor is crucial when listing your house for sale and it could save you a ton of headaches and thousands of dollars. There are currently over 8,000 active real estate agents in Orlando and choosing the right agent to list your home can be confusing especially when all the ones that you’ve spoken with have convincingly promised you the world… or at least that they will sell your home super fast for top dollar. Interviewing an Orlando realtor the right way will ensure that you get an outstanding real estate professional.

So which one should you believe? The answer’s easy… none of them. Anyone can tell you anything so it’s up to you to find the truth. When interviewing a real estate agent, you have to ask the right questions. Here is a list of questions that you should ask a real estate agent in the interview. These answers to these questions will help you to determine which realtor to choose.

1- Do you work as a realtor full-time or do you also have another job?

This is an easy one. If the agent tells you that they only work in real estate part-time, then you say “have a nice day…Next!” and move on to the next candidate. If they only work as a realtor part-time it means that not only are they not able to make enough money selling houses, but that selling your house won’t be a top priority.

2-How many listings do you currently have and how many are under contract?

This will tell you how hard of a worker the agent is and what’s the average time it takes to get a house under contract. If the agent only has a few listings or if they have listings that are several months old with no contract, then this is a sign of a somewhat lazy agent. You want an agent that is a go-getter and someone who is determined to get the job done ASAP.

3- How many houses have they sold in the past 6 months? How many in the past year? How many were they not able to sell and why?

Getting a clear picture of the realtor’s recent track record will give you a very good indication of what you can expect if they list your house.

4- Do you have some references from past clients that I can call and ask about you?

This is one of the best ways to find out how this agent will treat you moving forward. If they have no references to present to you then something’s wrong. This most likely means that they haven’t had very many happy clients.

5- Do you have a staff or an assistant or are you a one-man show?

A great real estate agent will always have a support staff or an assistant at the very least. There are a million details that a real estate agent has to deal with on a day-to-day basis and if they have to handle every tedious detail on their own,  then they aren’t good at managing their time. Or they have too much time o their hands. Neither of these scenarios is a good one.

6- What kind of systems do you use for organizing and following up with your leads, clients, potential buyers, etc.

To be a successful agent in this day and age, you have to have systems in place so that things are organized and run streamlined and smoothly. Following up with clients, potential buyers, title companies, etc is a huge part of being a great realtor.

Realtor in Orlando, FL

7- How will you market my house other than putting it o the MLS?

The majority of Orlando realtors list the house on the MLS and…that’s about it. There are soo many effective ways to market a house such as video marketing, social media marketing, blogging, target marketing, etc. all these techniques can be used to effectively sell houses. An outstanding realtor will constantly test new ways to market their listings and their houses will typically sell the fastest.

If you ask these questions when interviewing a realtor, then you will know what they’re about by the answers that they give you. Also, don’t interview just one agent, you should interview at least 3 agents and puck the one that you feel the most comfortable with.

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Orlando Realtors that were forged by fire are prepared for any market

Posted on by Jenny Zamora

 

The market crash of 2007 was a great school for young Orlando realtors

Shortly after the real estate market collapse of 2007, many Orlando realtors decided to give up being a realtor as a profession. They just weren’t making enough money to pay their bills and rather than trying to adapt to the new reality of Orlando real estate, they just gave up and looked for employment elsewhere. It’s not very difficult to be a successful real estate agent in a hot market. It basically comes down to listing the property on the MLS, planting a sign in the front yard and wait for a contract. In a hot market, properties sell themselves.

 

However, shortly after the market collapse 6 years ago, it was anything but a hot market. Orlando became flooded with foreclosure properties and short sales and suddenly one third of all Orlando homeowners were upside down on their mortgage. Lenders were also caught with their pants down not knowing how to handle this huge tidal wave of mortgage holders that all of a sudden stopped making their monthly mortgage payment. Realtors were at a crossroads, they had to decide to either adapt to this new jungle of short sales in the market or leave the jungle completely and find another way to pay the bills. Many Orlando real estate agents gave it a shot and did their best at doing short sales but found out very quickly that doing a short sale was 10 times the work of doing a regular listing.

 

There was another breed of agents out there however that weren’t intimidated at all by the drastic changes that were happening in the market. Instead of being discouraged, they saw an opportunity and went for it by jumping in with both feet when the market was at it’s absolute worst. There’s a certain type of person that will do whatever it takes to be successful and they won’t stop until they achieve their goals. This personality type fits well with being a short sale specialist. You have to be tenacious and extremely hard working to make it. Just imagine getting started in real estate at the worst possible time in history…and make it! Now that the market has been getting better, these same agents are really taking it to the next level because things are getting even easier because they’ve already experienced the worst.

 

Studies show that the majority of Orlando Realtors that started 2007 through 2009 are still active as opposed to agents who began working when the market was hot from 2004 through 2006. The market crash was a great battle ground for young realtors to earn their stripes. The experience of grappling with distressed real estate and being forced to get up to speed on the latest internet technologies like social media marketing has prepared this newest generation of real estate agents to better handle the process of buying and selling real estate.

 

 

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Save Time and Money by hiring an Orlando Buyer’s Agent

Posted on by Jenny Zamora

 When talking about residential real estate in Orlando, sellers will usually do extensive research before hiring a real estate agent that they feel comfortable with. They will ask family and friends for advice, research on line, read reviews, ask for references, etc. Then after coming up with several prospects, sellers will go a step even further and interview the potential realtor in person.

Buyers however, tend to be much less cautious with their approach. If a buyer looking for a home in the Orlando area sees a sign that says “Orlando homes for sale”, they will have no problem going with that real estate agent without knowing a thing about the person.  They’ve just put this person in charge of their search for a new home without thinking twice.

Most potential home buyers tend to have a “What do I have to lose?” type of attitude. They figure that if the realtor shows them some houses that they like then that’s good and if not, then no big deal, they will just go to another one. In my opinion, this is a horrible approach and a buyer could end up paying more money for a house in the long run, not to mention the potential frustration it can cause you along the way.

Researching a Buyer’s agent is just as important as researching a listing agent.

Don’t rely solely on an advertisement to tell you what you need to know about an agent. Sure, the agent will probably have ads about homes that will most likely contain a nice set of photos, a brief summary of the property’s major amenities, and a stated asking price, etc. Don’t get me wrong, all of these things are important for an ad as far as making it “eye catching” so that a  buyer will want to see the property. However, this tells you absolutely nothing about the agent that you will be working with.

Here are a few things you should focus on when looking to hire a buyer’s agent.

Experience: Find out how many years of experience the realtor has in the area that you are interested in. You want an agent that will know a good deal [based on the criteria that you’ve given them] as soon as it hits the market.

Education and training: Although nothing takes the place of experience in the real estate industry, it’s important to know that your agent has had the proper training and education in order for them to be a successful buyer’s agent. Find out if they have any special endorsements in their area of expertise.

Track record: Buying a house will be one of, if not the most important decision of your lifetime. This is why you should hire someone with an excellent track record as a buyer’s agent. How many houses have they sold in the past 6 months, year, etc. Also, ask for references from past clients. If they say that they don’t have any, then something’s wrong and I suggest that you keep looking.  

Area of Expertise? Although many Orlando real estate agents work with both buyers and sellers, it’s far better for the buyer to seek out a buyer’s agent. This is a real estate agent that specializes in locating houses for potential buyers. They are on the MLS everyday seeking out houses for potential buyers and are highly tuned in to what’s for sale in their farm area.

 

A good real estate agent, whether you’re buying or selling, is there to look out for your best interest. Looking for and finding you a house that meets your criteria is just the beginning. A good real estate agent will walk you through the entire process and make sure that everything gets done correctly legally. From negotiating the price to setting up home inspections to closing the transaction, having a good realtor in your corner will save you time and money.  

 

 

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Home Insurance Policies 101

Posted on by John Conde

You’ve decided to make what is probably going to be the biggest purchase of your life – you bought a home – and that’s exciting. However, before you set your heart on the number of bedrooms you want, neighborhood, backyard pool, etc., you should look into the cost of home insurance and determine what you can reasonably afford. Becoming a homeowner won’t be as fun if you end up with a house that is going to cost you astronomically in the insurance department. Since homeowner’s insurance isn’t something you can just skip over, it’s important to analyze safety features, local weather conditions, and crime rate in the community you’re considering moving into. Home insurance policies vary depending on different factors, and taking a closer look into what each of them encompasses will ensure you’re sufficiently covered.

HO-1

This is the most simple home insurance policy on the market. It covers direct damage to the home only caused by specific hazards that include fire, lightning, hail or windstorm, explosions, riots, aircraft, other vehicles, smoke, vandalism, theft, and volcanic eruption. You have to be careful with this policy as it does not include personal liability coverage.

HO-2

An HO-2 defends your home and its surrounding structures, like a detached garage or fence, and includes personal liability. This policy steps it up a bit and covers everything mentioned in the HO-1 as well as falling objects, plumbing system floods, power surges, frozen pipes, broken heater, air conditioner, water heater or fire sprinkler and destruction caused by the weight of sleet, snow or ice.

HO-3

This is the insurance policy many homeowners decide to go with because of the level of coverage and comfort it provides. You will be able to work with your insurance agent to come up with a list of exclusions you really feel you won’t need coverage for and include them in the contract, meaning you will be protected from loss or damage as a result of anything else. Some of these exclusions may include nuclear threats, earthquakes, deterioration, neglect, and war.

HO-4

The HO-4 plan is designed to specifically give coverage to renters. It will provide for the loss of any of the tenant’s personal belongings due to the same perils listed in an HO-2 policy and personal liability of the renter, but does not cover any property damage.

HO-5

Similar to the HO-3 plan, the HO-5 is the most inclusive policy a homeowner can obtain. The biggest difference is that the insured’s personal belongings within the home are fully covered unless something has been pointedly excluded.

HO-6

This will meet the needs of a condo owner who would like to insure their belongings and anything not considered to be covered by the property owner’s policy for common areas.

HO-8

An older home can be more difficult to insure, but that’s what an HO-8 policy is for. If the estimated cost to rebuild your home is more than its current market value this plan will allow you to make sure you are getting some kind of replacement coverage under the damages listed. Depending on the amendments you make, the insurance company may only payout to replace your home using modern materials instead of paying more for the antique qualities it once had.

Going over all your home insurance options and discount possibilities before jumping into a huge investment will give you an advantage and save you in the long run. There may be things in a policy you simply don’t need or depending on the climate you live in, there may be things that are necessary to add.

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Four-point inspection vs. Full-home inspection

Posted on by Jenny Zamora

Different Home Inspections From A Realtor’s Perspective…

Every homeowners insurance company requires either a four-point inspection or a full-home inspection before issuing an insurance policy to the new homeowner. These inspections are designed to protect both the insurance company as well as the buyer by exposing any existing issues or damages prior to the sale of the property.

The four- point inspection focuses on four main areas of interest in a house

  *  HVAC (Heating, Ventilation and Air Conditioning)

  *  Electrical wiring and panels

  *  Plumbing connections and fixtures

  *  Roof

The reason why homeowner insurance companies require a 4 point inspection is to make sure that major components of the house are in good condition before they agree to insure it. This is especially true for older homes [25 yrs or more] since the chances of an older home having problems is much greater than a newer home. It’s for this reason that insurance companies have become increasingly reluctant to issue homeowner insurance policies. A good example of this would be a roof nearing the end of its life expectancy. Even though the roof isn’t leaking, you know just by how old it is that it won’t be long before it starts having problems.

 In this situation, the Insurance company would probably require the roof to be replaced before issuing the new homeowner a policy so that they can reduce their risk of liability that comes with a worn out roof. The same holds true for the electrical, plumbing and HVAC systems. If either of these items are in bad shape or poorly installed, then they could easily cause a fire or severe water damage to the house putting the insurance company at risk for having to pay for the repairs to be made to make it livable again.

The full-home inspection is a more complete inspection

A Typical Full-Home inspection includes:

*  Roofing- sheathing, shingles, flashing, vents, , trusses, etc.

*  Exterior/Interior – roof coverings, soffit, fascia, finishes, etc

*  Heating and Air Conditioning – ducts, temperatures, filters,

*  Electrical System – safety, GFI, wiring, breakers, receptacles, etc

*  Plumbing – supply, fixtures, water leaks, waste, etc

*  Appliances – Hot water heater, dishwasher, refrigerator, etc,

As you can see from this list, a full-home inspection is a much more in-depth process than the four-point. The inspector basically goes through the entire house with a fined tooth comb and reports anything that either may have a problem or which may cause a potential problem in the near future.  A good example of this is if there is evidence of past water damage, the inspector must determine if the proper repairs have been made or if the problem still exists.

The inspector should also check for potential safety issues like a  loose handrail, an electrical outlet installed to close to a sink, defective appliances, etc. This type of an inspection can sometimes take up to four hours or more to complete because of the amount of work that’s involved. Some defects are an easy fix, and once discovered, can be fixed before purchasing the home. However, when major issues are found, the buyer will usually try to get the seller to make the repairs prior to the closing.

After a home inspection in Florida, a written report is provided to the home buyer, lender, and seller. Minor or cosmetic defects might be overlooked by all.

It’s my duty as an Orlando realtor  to look out for my client’s best interest which is why I always try to encourage my buyers to order the full inspection as opposed to a four-point inspection. Sure, a full-inspection will cost more money but it could potentially save you thousands of dollars in repairs by detecting any problems with the house before signing a purchase contract. https://orlandorealtyconsultants.com/


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