Tuesday, June 21, 2016

Buyers Remorse...

Has anyone ever heard of buyers remorse? If not it's when a buyer is questioning if they made the correct purchase or not. Many home buyers back out of an offer if they are not 100% happy with the home, which in my opinion makes sense. No one needs to purchase property they are not happy with. This is what real estate agents like to call buyers remorse.

Once again this falls back on being fully satisfied with your purchase. Don't force yourself in to a home mortgage if you aren't 100% happy with the purchase you are about to make. The home can depreciate in value once you purchase it, just like when you drive a brand new car off the car lot. Be careful with what you purchase.

Happy home buying!! :)



Monday, June 20, 2016

Location is Key!

This week I am currently on vacation at the beach. Working with real estate has taught me to look around in different areas and see the deals that are out there. Sense I am at the beach it is habit for me to look around and see the different houses and property that is for sale. Yes, homes at the beach are going to cost more because you have higher taxes at the beach, and homes have always been more expensive at the coast. However, with this being said I am enjoying my time at the beach and could see myself purchasing property down here at some point in the future.

Knowing where you want to purchase property is key! You don't want to get in to a mortgage and regret your purchase based off the area. Be sure you spend a decent amount of time in the area and are aware of your surroundings before purchasing a home. This is where you are going to be living for a decent amount of time. You have to love where you live, wether it's the beach, mountains, country, or city you have to fall in love with the view.

Saturday, June 18, 2016

Guest Post

Hello everyone, I am Ashlee McNabb's mother. Today I am going to talk about my experience with real estate agents and the selling of our past two homes. I hope all of you find this information to be informative and choose to go through a relator wether you are buying or selling a home. I am aware this blog is targeting those who are seeking to purchase a home, or sell their current home and it is important to go the right direction.

My husband and I decided, several years ago, to sell our first home we purchased together. This was a huge decision for us, because it was our first large purchase together. It was time to move on and purchase a larger home for our family. Before we put our house on the market we had to decide whether to pay a relator or try to sell it by owner. Putting it for sale through a relator was almost too obvious. Yes, you must pay the commission of the relator once your home sells, but it is much easier and relieves the stress of all legal papers. Going through a relator keeps all conversations between you and the buyer confidential. All conversations and countering of offers is done between the relator.

Our relator experience went well and we were pleased with everything we were offered. Many clients worry about someone breaking in to the lock box on their door; however, this was never a problem we had or feared. Cathy Griffin was always easy to work with and provided every type of advertising needed to sale our property. It was nothing short of an outstanding job!

In conclusion if you ever question using a relator or not, ALWAYS choose going with a relator. They will work with you close hand and be sure all your needs are met. If you are questioning the amount of money you will get out of your home, agents are always willing to work with the price of the home. They are not in the business to give your home away!

Friday, June 17, 2016

Guest Post Introduction

Tomorrow I will be posting a guest post from my mother, Cindy McNabb. During this post she will be discussing my families two different dealings with relators, and how important it is to use a relator instead of trying to sell your home by owner.

I hope ya'll are looking forward to this post as much as I am!

Thursday, June 16, 2016

What Happens at Closing?

Many individuals have asked me:
What happens at closing?
Are there a lot of documents to be signed?
Will I have keys to my new home at the end of closing?

Well, these answers are very simple!

1. At the time of closing you will make a trip to a local attorneys office, or the office your relator has told you to attend. You will go in and sign different documents that will be documented to put the house in your name. At this time of closing you will not come in contact with the buyer or seller. It will just be you, the attorney, and listing agent or buyers agents, whether you are buying or selling property.

2. The amount of documents to be signed depends on the lender and what type of loan you are receiving. If it is your first time purchasing a home and your first loan you will more than likely have several different documents. If the home is payed off or you are paying cash for the property you will still have to go to closing, but you will have less documents to sign and go over.

3. Keys will always be granted after closing. The home is now legally yours!!

After closing it is time to go celebrate, because this is payday for relators. It's always exciting to see  property sell and money go in to your pocket!

Wednesday, June 15, 2016

When do Real Estate Agents get Paid?

Real Estate agents don't get payed by the hour like other jobs. All income comes from houses you sell. If you don't sell homes, you don't get paid. Therefore, your annual income varies from year to year depending on how many homes sold.

Agents do not get paid for listing a home if it doesn't sell. Any expenses that go out to open houses or advertising doesn't get paid for by the owner/seller; the agent pays for everything to advertise the home in different ways. You only receive money at the time of a sell. As far as commission goes, it can vary between the different franchises and who you work under. For example, at Century 21 the listing agent receives 3% and the selling agent receives 3%. If you were to both list and sale a home you would receive 6%. 

There is money to be made in the career of real estate, but you have to be willing to put in the time and effort. It's not an 8-5 job.

Tuesday, June 14, 2016

Repairs

If a new listing has repairs to be made it is important to get these fixed. Doing this will be a good selling point for the home. Homes that need repairs are hard to sell because clients 9 times out of 10 want move-in-ready homes.

There are two different options when it comes to making repairs. The owner can fix it themselves and pay before closing, or the relator will hire a contractor to come out and the cost will be payed for at the time of closing.

The pictures below is a perfect example of repairs that are being taken care of by the relator, Cathy Griffin. She is hiring a contractor to come and make the repairs and the owner will be charged at the time of closing. This is when Cathy will be reimbursed.

Monday, June 13, 2016

Networking...

Networking is a way to build relationships with people and get to know individuals through other people. This is an important part of real estate. If buyers and seller don't know your name, then how would you ever have property to sell? You wouldn't, it's that simple.

When you are out with a client it's always important to ask these simple questions:
Have you always lived in this area?
What brings you to North Carolina?
Do you have family within this area?
What do you do for a living?

Each of these questions opens up a conversation for you to get to know your clients and other people they are familiar with. Building a steady relationship and caring about your clients opens doors for them to share your business with other friends looking to sell or purchase a home. Word of mouth is the best type of advertisement. It comes right from the heart!

In an overall nutshell networking is the key to opening successful doors in the future. After all it's all about who you know!<

Sunday, June 12, 2016

Three New Listings...

This week there are two different houses going on the market for sale. With this I am responsible for making three different flyers and writing house bios for newspapers and MLS sites. I have to be sure to use creative adjectives that will draw buyers attention.

If you know anyone looking for a home be sure to show them these advertisements. These homes are both move-in-ready. You won't be disappointed!

Saturday, June 11, 2016

Steps to Purchasing a Home...

Are you ready to make the biggest purchase of your life? If so here are a few steps the average home buyer needs to know:

1. Price Point- go to your local bank and see what your qualifications are for a loan. I suggest you don't exceed this amount because you will have to put cash in at the time of closing to cover the difference. It is better to be able to take the downpayment and start paying off on your loan.

2. Amenities- square footage, acreage, updates, age of home, shop, large kitchen, storage, bonus room, basement, etc. these are things you want your home to have.

3. Location- you must ask yourself if you want to live in the country, city limits, or maybe an home owners association (HOA) neighborhood where you have different regulations and monthly fees.

4. Shop- look for different properties online, through relators, or by driving around.

Once you have found your dream home it is now time to go through the process of making it yours:

1. Make an offer- the original offer may not be taken by the owner and you must be willing to accept that and either move on to another or raise your offer. The negotiating process can go back and forth for a while, depending on how easy the seller is to work with. When you make an offer contracts have to be typed and signed by the seller and potential buyer. This process can go fast or slow.

2. Due-diligence period- this is the time between the offer being accepted and the closing date. During this time a home inspection must be passed and the home must appraise out, meaning if you are trying to purchase the home for $149,900 an appraiser must come out and calculate the value of the home. If the house doesn't appraise for 149,900 then the bank will not give you a loan for this amount. If this occurs you must be willing you put cash down at the time of closing to make up for the extra cost or try to counter back with a lower offer.

3. Closing- after everything has been legally passed off it is now time for the buyer and seller to make a trip to an attorneys office to sign papers and make the house officially yours. For a lack of better words many say this is the day you sign your life away, but for me I see it very exciting and an accomplishment of hard work.

4. Move in- you have now completed the long and stressful trip of purchasing a home. It is now time to move in and celebrate!



I hope these many steps of purchasing a home will help you in the future when you decide to make the biggest decision of your life. As an intern I love seeing the buyers and sellers face at closing. It is a sense of hard work and accomplishment.

Friday, June 10, 2016

Rental Properties

Real Estate agents don't only handle properties that are for sell, but also deal with rental properties. Many times home owners will choose to rent their property if it sits on the market for a while without selling. Today this couple signed papers to rent a house that has been on the market for 2 years.

The home-owner hasn't lived in this house since 2007 and has the property completely payed off. This was an answered prayer for this couple to come along and rent this house. They didn't want to jump in to purchasing a house they would regret buying and the owner wasn't selling his home. 

This couple has signed a contract to rent this home for at least one year. After the year the couple is able to move or stay for as long as possible. When you rent property you have to come to a mutual agreement with the owner about monthly rent and different things the renters can and cannot do. In this case the owner is giving the renters free range and allowing them to do as they please with the exception that the home is in meant condition at the end of one year. 

If you are not ready to be fully committed to a house payment and settle down on a house, I suggest you try renting. This way you don't have to take loans out and risk dropping your credit. Renting is never a bad thing! 

Thursday, June 9, 2016

When Real Estate Throws Curve Balls

In my last blog I discussed how phone calls can change the route of your planned day in real estate...well if that wasn't an understatement!

Cathy and I went over to a house off E Innes Street where we had to shut off the power. There were a few pictures that needed to be taken of a hole in the kitchen and paint that was left unfinished. As I was taking these pictures for our repair guy I heard what sounded like dogs barking. I peaked through the blinds of the back door that led out to a deck and saw two innocent dogs. As I walked out the backdoor I noticed they were enclosed in the fence of this backyard. Neither of the dogs had food or water and they gave me the innocent little puppy dog look. It was right then that my heart melted for these dogs and knew there was something Cathy and I had to do. 

We scrummaged around the vacant house to find a bag of dog food that was left and poured water into bowls that had also been left in the yard. Both dogs consumed the food so fast, it was like they hadn't eaten for days. Before leaving the house we emailed the owner, who is on his way to England, and said, "There are two dogs in your backyard that have not been fed for days. Do you happen to know anything about this?" The man replied and said he had made arrangements for the dogs to be picked up, but for us to continue checking on them and contact his son to see what to do with the dogs. 

Today I am going back over to the house to feed and tend to those two precious dogs. I hope to find them both a safe and secure home within the next few days! 

Real Estate can always re-route your intended direction for the day, but I wouldn't change my internship for the world. This career will allow be to build relationships with individuals and find their dream home, or get away from a home they don't enjoy. 

Wednesday, June 8, 2016

Life of an Agent

If you decide to pursue a career in real estate you better like to be up and on the go. Each day you will have a to do list and a set of times to be at different appointments; however this does not always happen. Working along side Cathy Griffin I have noticed that each phone call can change the route you take during the day. For example today, we had all intentions of being back in the office after we ran to concord to list a house, but this didn't happen. We had several phone calls where people needed our assistance at different locations. We were called change the power over to our name for a vacant listing, and let a plumber into a house that needs repairs before a closing. Each of these appointments where things that needed to be done in a timely manner, so we didn't arrive back at the office till around 4:30-5:00.

Being tugged in different directions is never a bad thing because it means you are successful at what you do. If know one called for information, assistance, or new listings then you wouldn't have the business or cliental needed to make a profit. The work you put in to your career shows how much you truly care about what you do!
Always on the go!!

Tuesday, June 7, 2016

Forclosed Homes

If you are currently in the market to buy a home you may want to consider foreclosures. These homes are either real estate owned or bank owned property because of the previous owner being unable to pay on their loan. The family was incapable of affording their home, and being able to keep up the bills. Therefore when the home is taken out of their hands and turned in to the hands of real estate agents or the bank you are able to get the home at a discounted price.

Although you are probably receiving a good deal on foreclosed homes there is little room for negotiating the price, and you must be willing to take the home as is with no repairs. Banks and real estate agents are ready to get these homes out of their hands and move them on to a family who will take care of the property.

There is money to made in this area. Many times foreclosed homes aren't in the best shape because the owners didn't have the money to spend of appliances and renovation. In this case you can pick property up at a low price point and renovate the home. After making the home look its best with updates and a little touch of TLC you can put the home for sale and make a little profit!

Monday, June 6, 2016

Price Point

When looking to purchase a home you must know your price point, whether you're a first time home buyer or have been in the market several times. This is important because you don't want to exceed the amount of money you can afford financially. With this being said, you want to be able to enjoy the home you live in and be able to afford different appealing and pleasing things outside your home. You don't want to live by every dollar worrying if you are going to be able to afford this months payment.

The first step in finding your price point is to look into your credit and see the loan amount you qualify for, from your local bank. For example if they say you qualify for a loan of $400,000 dollars you don't want to look at a house worth $500,000. This means you would need cash to put down on the house because the bank is only loaning you $400k. From a logical standpoint staying under your loan amount makes the much sense; therefore you will be able to afford monthly payments and hopefully put money down on the home.

Exceeding your price point may cause you to get behind on bills and your home to be foreclosed on. No-one wants that to happen.

Sunday, June 5, 2016

What Catches Buyers Eyes?

Today home buyers are in the market for homes that are updated and move-in-ready. However, there are cases where buyers are looking to do the remolding themselves to make a profit. Popular move-in-ready homes today consist of: hardwood floors, marble counter tops, stainless steel appliances, clean paint, smooth/high vaulted ceilings, clean carpet with no odors, 2+ bathrooms, 3+bedrooms, walk in showers, Jacuzzi, decent size yard, and a shop for extra storage and space. Each of these amenities adds value to the home. If you are looking to put your house on the market it is important to do as much updating as possible to get the highest dollar out of your home. You don't want to sit on a home you are trying to sell too long.

Below is an example of a late 1930's home that was fully remolded for a sell. You will notice how the kitchen is fully updated with stainless steal appliances, wood floors, fresh paint, walk in shower, vanity, and staged well with no clutter. 




Saturday, June 4, 2016

Choosing the Right Home...

When it comes to purchasing a home there are many different factors that come into play. These may be: price, loan Amount, style home, number of bedrooms and baths, square footage, average, location, age of home, different amenities you want the home to have, etc. Many people think purchasing a home will be an easy task and simple task because they know what they want and have in mind. However, this is not always the case.
When home buyers come in the office and list out their many wishes of their perfect home we try our very best to find and give that to them, but when the market doesn't have it the market doesn't have it. Sometimes people may wait awhile and be on an ongoing hunt or decide to purchase property and built their dream home themselves. A lot of time and effort goes in to the purchase of a home, but relators are here to make both the buyers and sellers happy.
In my next couple of post I will be laying out a few different examples of what the average person wants in their home. This can be helpful if you are looking to put your house on the market for sale or remodel a home to make a profit.
I hope you enjoy!

Friday, June 3, 2016

Broker Open House

Broker Open Houses are much different from a public open houses because they are just for real estate agents. It's a time for all realtors to come see property, give their opinions, mention their listings, eat food, and talk about business in a casual setting. This is a plus for all buyers agents because the home may be something one of their buyers is interested in. If that's the  case it brings showings to the home for a potential sale. In an overall nutshell a brokers open house is an additional way to market a listing. Brokers open houses are advertised through email, flyers, and one-on-one communication. Most the time they are not advertised in newspapers or magazines because they are only for realtors.

Thursday, June 2, 2016

Open Houses

Open houses are open to the public for anyone who is interested to come in and have a tour of the house. Most are scheduled on the weekends for roughly 2 hours. During open houses the realtor who listed the house is always the one to host the event and show individuals around and provide facts about the home. The home owners/sellers are never present. When you list your house with a realtor you let them handle all the showings and paperwork while the sellers stay completely on the back burner. It works best that way. Realtors will always keep a record of how many families/individuals attend the open house to determine whether it was worth the time and effort put in to it. Open houses are often advertised in the local newspaper, websites, flyers and directional signs stating there will be an open house.

Wednesday, June 1, 2016

Building Relationships

An important characteristic of being a successful realtor and selling your property is building strong relationships with your clients. It shows you care about their situation and will try your best to sell their property. 

As a relator you have to be willing to plan things around your schedule. For example last week one of Cathy’s clients contacted us and wanted red, white, and blue balloons on their mailbox for Memorial Day, so we made that fit in our schedule to make the clients happy. If you make your clients unhappy they will drop you and move to another real estate agency. You don’t want to lose your clients, because you can’t sell property without any!