Tag: Real estate agents

7 Qualities of a Top Realtor

Posted on by Jenny Zamora

Knowledge of their local market

It’s absolutely crucial to hire an agent with an intimate knowledge of the local market. The MLS is a great tool when you’re doing some preliminary research like cost per sq ft and getting comparables. However, you need a realtor who can go deeper than that, someone that has local knowledge of the area you’re looking in. When you find a realtor that lives eats and breathes real estate, they’ll know things that other real estate agents won’t.

Relationships with homeowners

Realtors that specialize in certain areas will sometimes know the homeowners that are selling, personally. Whether it was from an open house in the same neighborhood or maybe from knocking on doors. A good realtor will go out of their way to create relationships with homeowners looking to sell their property.

By having a good relationship with the seller, the realtor may have some useful information like how motivated the seller is and if they need to move out quickly or maybe they don’t care if it sells at all.

Knowledge of Pocket Listings

These are listings that are not marketed through the MLS for one reason or another. Although pretty rare, pocket listings do exist, and usually, only agents that work in that area will be aware of them.

Experience as a Listing Agent

Like in any other competitive profession, there is no love lost when it’s time to negotiate the sales price. The buyer’s agent is trying to get the deal of a lifetime while the listing agent is trying to get $10,000 over the asking price.

Having an experienced agent in your corner who has “been there and done that” many times in their career will give you peace of mind that you’re in good hands. Is it really worth losing money on the buying or receiving end of a transaction just because you wanted to help your friend or family member who just got their real estate license?

Tech Savvy 

It’s no secret that most potential buyers start their search online. Fortunately, these days most agents will allow clients to search the MLS right from the agent’s website. However, even though the MLS is the most popular site for real estate searches, there are countless others now and your realtor should be familiar with and have access to all of them.

A good realtor will use all of his/her tools in their realtor toolbox to get the job done quickly and efficiently. You can start to see how having someone experienced in your local market is a huge advantage. 

Has Been Established For A Long Time

If a realtor has been in business for more than 10 years and is still thriving, then you know they’re doing something right. Getting your real estate license is relatively easy and most people that get their license don’t end up making it as realtors. Being a successful realtor year after year takes hard work, dedication and a never say die attitude, especially with an ever-changing real estate market.

Outstanding Track Record

This is the “proof in the pudding” when it comes down to it. It’s crucial that you find out what the realtor’s track record is. You should find out how many transactions they’ve done in their career overall and how many in the last year or six months. If their numbers don’t make you say “WOW!”, then you should probably move on to the next candidate. It’s also a good idea to ask for references from some of their past clients.

Easy Exit Listing Agreement

Even with all the ways, we can research an agent, there’s a chance that you still might end up with someone that isn’t producing the results that you were promised. Be very careful when choosing your agent and make sure that there’s a clause that lets you cancel the listing at any time for non-performance with no cancellation fee. If not, you could be stuck with a bad agent for the remainder of the listing contract or pay a hefty cancellation fee.

We’ve completely eliminated this problem in our own company by using what we call our “Easy Exit Listing Agreement”. It gives homeowners peace of mind knowing that if w don’t perform, then they can cancel on us anytime with no cost to them.

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How To Hire A Short Sale Realtor – Video

Posted on by Jenny Zamora

How To Hire A Short Sale Realtor  Video

 

When you hire a Short Sale Realtor t to take on your short sale, It’s just like hiring an attorney to represent you in some legal matter, so obviously you want someone with experience and a good track record.

The agent you choose is going to be dealing with your lender on your behalf which is a huge responsibility.

 

To begin with, they have to put together your entire file correctly to then move to the next steps of sending in offers, counteroffers, scheduling inspections, arranging showings, etc.

 

Right now there are a ton of cash incentive programs are out there and it’s important that your real estate agent is aware what programs you may qualify for or you could end up losing out on that those incentives.

 

Short selling a home is serious business. In fact, selling a house is one of the most important decisions a person will have to make in their lifetime,so it’s important that you hire a realtor that specializes in short sales.
What’s the best way to research an agent?
Like anything else these days, I recommend that you start your search with Google

 

Type in terms like “Orlando short sales” “short sale specialist” etc. A top short sale agent will have a strong online presence.
You should then choose 2 or 3 of them from the first page on the search results

 

Make sure that the agents that you choose are experienced in your area.

 

You should then start the interview process by asking these agents some key questions such as the following:

1- How many successful short sales have they done?, How many have they done in the past six months?, What’s their closing rate?
2- How many active short-sale listings do they have currently?

3- Do you have any references or testimonials from past clients? And is it OK to contact them?
This will give you a very clear picture of what you can expect moving forward.

 

 

If you follow the steps mentioned above, then you will know exactly which one to choose. Because remember, it’s not just about being a good agent. It’s also who do you feel comfortable with.

 

Short selling a home will be one of the most important transactions of your life. So it really is worth the extra effort to thoroughly research the agents you’re thinking of hiring before signing that listing agreement.

 

Feel free to contact us with any more questions you may have at 407-902-7750 or visit https://orlandorealtyconsultants.com/short-sales/

Orlando short sale expert

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Pitfalls Of Pocket Listings

Posted on by Jenny Zamora

The idea of getting your house sold without ever having to list it on the MLS for the whole world to see can be attractive to many. It’s kind of like if you found the perfect house for you by just driving around and all you had to do was knock on the door and hand the owners a check.

Sellers take a huge financial risk by choosing to sell their homes to be sold via “pocket listing” as opposed to a normal listing. 

The term “pocket listing” refers to an arrangement between the homeowner and their Brokerage in which the Realtor markets the property without the use of the multiple listing service. Instead, the property is advertised through the realtor’s own network which basically means “word of mouth”.

I completely understand someone wanting to be discreet about the sale of their home especially with nosy neighbors lurking about, but not to the point where it can hurt them financially.

 

Sellers Should Beware Of Losing Money On A Pocket Listing 

The home may sell for less than market value.  If the home isn’t exposed to as many potential buyers as possible, how can a seller feel confident that they received the best sale price?… They can’t. Only homes listed on the MLS get enough exposure and have a chance to be involved in bidding wars with multiple offers.

A pocket listing, much like homes that are for sale by the owner, will never get the amount of exposure that a traditionally listed home will. An estimated 47% of homebuyers in 2013 found their home through an internet search, not through a real estate agent.

Small concerns may become big concerns. Just like in a traditional listing scenario, pocket listing sellers may have to make certain repairs or concessions in order to make the deal go through. The big difference is that in a competitive environment a seller has more options. Repair issues, as well as appraiser problems and other issues, can be negotiated or even ignored when there are multiple interested buyers.

Buyers Should Always Use A Realtor

Buyers shouldn’t even think about making an offer on a pocket listing without the proper representation of a buyer’s agent. With a pocket listing, the agent represents the seller and will put the best interest of the seller first. By using an experienced buyer’s agent in a pocket listing transaction, you can have peace of mind that the seller’s agent hasn’t overpriced the house. A buyer’s agent will also be able to help navigate an interested buyer through the contract making sure that there’s plenty of time for inspections, etc.

Buyers should also do their best to try and remove emotion from the transaction. Especially when an interested buyer approaches the homeowner directly or tells their realtor to canvas a specific area looking for homeowners that are interested in selling. By showing too much interest in a home, the buyer automatically puts themselves in a position of perceived weakness. The seller now knows that they have something that the buyer really wants.

It’s always best to let the realtors handle the communication between buyer and seller. Experienced realtors will handle everything in a professional manner leaving emotions out of the equation.

 

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Orlando Housing Spurs as Consumer Confidence Pick Up Speed

Posted on by Jenny Zamora

2014 was a significantly sluggish year for the Orlando real estate market. Consumer activity, as well as confidence in the industry, proved to be rather low. But things are changing nationwide and the top Orlando Realtors say “The City Beautiful” will see more consumer activity in the months that lie ahead.

Momentum expected to increase in housing

A report by the Commerce Department showed that the number of new housing projects in the nation jumped by 13.2 percent, far exceeding the forecasts made by the analysts previously. Further, permits filed for buildings nationwide rose eight percent and stood at a figure of 0.7 million more than what was previously expected.

Locally, real estate agents in Orlando explain that demands for new construction work rose because of banks easing up on borrowing costs and their strict credit conditions. Increasing job growth across the nation and the aid of federal stock markets has resulted in improving consumer confidence. All factors together, realtors say, have spurred up the housing market.

In Orlando alone, realtors say they have seen more prospective buyers enter the market in April than in the months before, further increasing the demand for builders. So, the next few months are going to be marked by increased housing momentum.

Factors responsible for the effect

An increase in housing inventory may just be one of the biggest reasons why more buyers are venturing into the market. With the U.S. housing inventory reaching a near two-month high, affordability conditions have improved for many buyers.

Listing agents in Orlando reveal that April witnessed a 16.8 percent increase in the number of previously-owned houses, up for sale. Further, improving jobs and the overall economy as well as lower costs of borrowing has enabled more people to become buyers. The rates of standard 30-year fixed mortgage averaged 4.14 percent – the lowest in close to nine months.

In April, sellers received 5.2 percent more for their existing homes, in comparison with figures from 2013. The median price of such houses was recorded as $210,700 in April 2014. Of the total number of sales closed, 17.5 percent were from properties valued under $100,000. 44 percent of the properties sold ranged from $100,000 to $250,000.

Retailers like Lowe’s Cos. and Home Depot Inc. are in fact forecasting in favor of improved sales after more consumers began making use of the spring buying season. It’s a great time for buyers as well as sellers, realtors add.

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Orlando Realtors Expect More Buyer Activity in the Summer

Posted on by Jenny Zamora

According to a new industry report, sales of existing homes in the US, in the month of May, have been higher than previously anticipated. The nationwide phenomenon was confirmed by realtors from most of America’s big property markets leaving the real estate industry musing on better Summer prospects.

And why not? The sale of previously owned houses rose by 1.3 percent in May – marking the very first hike in 2014. On a per-year basis, sales of previously owned properties rose to 4.65 million nationwide. Further, the number of residential properties available for sale reached levels it hadn’t touched for nearly two years now.

The Orlando real estate market is not untouched by nationwide progress

The prospects couldn’t have been better for the Orlando real estate market too. According to some of the top listing agents in Orlando, prices of residential properties in Orlando have slowed down due to increased inventory. More properties were listed in the month of April, affordability improved in the process – allowing more citizens to become homeowners.

Nation-wide, 2.29 million homes were listed in April, depicting a rise of 16.8 percent and the highest levels since August 2012. Availability is typically viewed as a dependable indicator of future sales. Bigger inventory, more listings, and improved availability suggest more sales activity in the coming months, listing agents explain.

2.29 million homes, for example, would take close to six months to sell at the current pace. When the inventory accounts for under five months of sales, the market is considered to be tight.

The spectrum of the real estate market is not all rosy but certainly better

Realtors are banking on sustained gains in employment, to increase consumer confidence and boost housing. According to 75 economists, who were surveyed by market analyst Bloomberg, sales of previously owned homes are expected to maintain a pace of 4.69 million. In March, the median pace was 4.59 – the weakest in two years.

Orlando real estate agents also confirm another national observation made in the report – the strong influence of investors. Investors bought up condominiums in large numbers, fueling the April hike in sales.

And while the housing market still has a long way to go before hitting its stride, things are definitely improving. Compared to the sales closed in 2013, sales in 2014 were down by 7.3 percent. Further, many top Orlando realtors reveal that not many first-time buyers have been a part of the increased sales activities. There’s reason to remain hopeful however as the turnaround, though slow, is happening for sure.

 

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