There are good plastic surgeons and bad ones. Good mechanics and bad ones. Good plumbers and bad ones. Like every profession and industry, in real estate, there are “good ones” and “bad ones”.
In most cases it comes down to personal preference. When you are paying someone for their services, you expect a good experience in return. One would think that serviced based professionals would want to provide good service so they can capture repeat customers and referrals. We all can give examples where this hasn’t been the case. As a full time Realtor, I have been on all sides of the spectrum. Over the years, professionally, I have learned that I am in the business to help people facilitate financial transactions that in most cases are the largest that my clients will ever take part in. Every “deal” is a big deal. I have found that I am only as good as my knowledge, resources, organization and logistics. I try to set the tone and prescient every time I have communication with my clients as well as the other professionals involved. Not every client/professional is the same. I like to think I have a pretty good read on folks, what they need from me and expect. Currently I have a buyer would likes to know every aspect of the transaction. She likes to be fully aware of every detail. I put myself in her shoes. First, she is a mother of 2 young children and a wife. She has single-handedly managed the purchase of her new home, registered her boys into new schools, packed, rented out their current house, researched building permits, made phone calls, on top of planning summer vacations an d maintaining the schedule of an active family of 4. She has a lot riding on this purchase. She has arranged for a lot of family changes. In her shoes, I’d want to know everything too! So I BCC her on all emails that involve her purchase. I take her late night panic calls. But mostly I try to calm her down. NOT as a punching bag but I calm her down with FACTS. Facts and resolution is what helps her sleep at night, and I can appreciate that. So when you choose your professionals, make sure they understand you and what you need, cause we all need different things. Here are a few question s I like to ask all my prospective clients to make sure we are a good fit for each other: * What is your realistic time frame? * Do you like being involved every step of the way or would you prefer me to handle most of the proceedings and loop in when necessary? * Do you know what your needs and wants are? * If you worked with a Realtor previously, were there any issues that need to be addressed? * What is your preferred from of communication – phone, email, or text? I suggest that you use the questions and have some of your own as you are interviewing your Realtor. At the end of the day, it’s your business and you want to make sure that you are receiving the service and attention that best suits you.
Seems these types of home sales have been in the lime light for some time now. But when taking out buyers I am finding that though we are always hearing about them, few understand the difference. Here are some good things to know when looking to BUY.
A foreclosure is typically owned by a bank who is represented by a listing agent. A buyer’s agent preps an offer like most traditional sales, except that most of these are sold As-Is. As-Is means that the seller will make no repairs. Within the offer, the buyer is able to elect to do home inspections with the right to terminate. This protects you in the event an inspector finds major problems that may change the way you feel about the house. These transactions can go very smoothly and settle in the average 45 days. The “short” in short sale has nothing to do with TIME. It refers to the owners paying the lien holders SHORT of what they owe. Short sales are usually sold As-Is as well. Once an offer is made to the owners, the owners can choose to sign it or not. If they sign the offer, the listing agent then submits the offer to the mortgage company – the 3rd Party. Several steps within the mortgage company need to take place. This is what seems to take the longest. I usually advise my buyers that submit on a short sales, we will probably not hear from the listing agent for 3 months. This process has gotten better, but is still so unpredictable. I also have a series of questions that I ask the listing agent to be sure they understand the process, as agent can list a short sale. Some are better than others. ***Fun FACT*** Keep in mind that the listing agent sets the list price. It isn’t unusual for a mortgage company to counter with a higher amount than what the house was listed. The bottom line is this, I never hesitate to make an offer on a foreclosure. But with a short sale, I usually tell my buyers that unless you are getting a killer deal, it might be best to look at others. The most important detail to understand is that the banks that own foreclosures directly call the shots, set the list price, & negotiate. Short sales have an added party to approve the contract/price. The home owner doesn’t have much control in the deal. And in some cases there could be multiple mortgage companies attached to one property.