Real Estate Broker

Real estate brokers typically have more education and training than real estate agents. Furthermore, brokers must pass an exam that is longer and more difficult than the one required of agents. Due to their extra training and knowledge, brokers can work independently and can hire real estate agents to work for them.

Broker Associate

A broker associate is someone who has completed the schooling and tests necessary to become a broker, but who has chosen work for another real estate broker within a larger real estate network.

REALTOR®

Real estate brokers and real estate agents may choose to become a REALTOR®. While the term is often used interchangeably by laymen, a REALTOR® is actually someone who belongs to the National Association of REALTORS® (NAR). Therefore, a broker or agent cannot use this title unless he or she has agreed to the NAR’s extensive Code of Ethics and has paid the annual dues. If a customer has a problem with a REALTOR®, he or she may file a complaint with the local board.

Listing Agent

Also referred to as a seller’s agent, the listing agent represents the interests of the seller. Therefore, when it comes to negotiating a deal, the listing agent will work to obtain the best deal possible for the person who is selling the property.

Selling Agent

Also referred to as the buyer’s agent or the buying agent, the selling agent represents the interests of the buyer. Some agents work exclusively on the behalf of the buyer, while others work with both buyers and sellers. Typically, these agents do not work with both the buyer and the seller in the same transaction.

Dual Agent

In some cases, an agent will represent both the buyer and the seller. A dual agency may also occur if two separate agents represent the buyer and seller, but both agents work for the same broker. This type of setup is uncommon, however, and is not legal in all 50 states.

Transaction Agent

Rather than representing either the buyer or the seller, the transaction agent does not represent either party. Instead, the transaction agent simply helps to facilitate the transaction.

About The Author – Josh Anderson specializes in Brentwood TN homes for sale as a Realtor with Keller Williams in Nasvhille, TN.

How does this work for sellers?

To determine your home’s fair market value, your agent will analyze data from recently sold properties and currently competing properties. Recently sold means ideally in the last 90 days, but beyond that 6 months is okay. A year is getting a bit long, but if that’s what it takes to find a comparable property, it is still acceptable. The properties need to be similar in size, generally plus or minus 200 square feet. They also need to be similar in location. Same subdivision is best, beyond that move to the broader neighborhood, beyond that, the larger community.

Your agent should have a good handle on which areas go together and which do not, i.e. a pocket of larger homes on gated street are not comparable to several smaller houses surrounding them. Lastly, the homes need to have similar amenities. Even if a house is the same size and location, but one is a custom home and the other a production builder home, they are not exactly comparable. The custom home will have one-of-a-kind features, and the production home will have the same floorplan and be finished alike several other homes on the street.

Once they have found a selection of properties that are comparable, they will divide the sold price by the square footage of the home to come up with a price per square foot. Based on this number and the square footage of your home, it is pretty easy to come up with a general price range. The variation within that range now is based solely on your property’s condition and appeal.

In economics class, we learn that the value of something is what someone is willing to pay for it. A clear example of this is the sold values. Anybody can price their home at any number they want. But, when you use sold comps to determine your price, you are using the best guide, namely what someone has been willing to pay. There are always slight exceptions to this as no two houses are exactly the same. If none of the sold comps have pools but yours does, of course yours is worth more. Not usually the cost of the pool more, but more. Similarly, if yours does not have a pool and all the comps do, it is worth less.

If the person who wants to buy your house will be doing so with a loan, i.e. they are not paying cash, their lender will hire an appraiser to determine a fair value for the property. If your home is priced much higher than the sold comparables, you could have trouble with the appraisal not coming in that high, in which case, the lender will not underwrite the loan and your deal will fall apart. Also, in this day and age, consumers are pretty savvy and have access to data via the internet, so they will have a general idea of what others have paid. So, when setting a price for your home, the best thing to do is work within the numbers of the sold comparables.

How does this affect buyers?

When you are looking for a home, based on your criteria, most of the homes will likely fall within the same price range. But, even if they are in the same price range, you will need to note what the price per square foot is. Your agent will run a CMA and determine how the homes are priced in relation to what has sold recently and what else is on the market.

Though the final decision is up to you, paying a price for a home that is much beyond sold data is risky for two reasons. First, the property may not appraise. This isn’t an issue if you’re paying cash, but will be if you need to obtain financing. Second, if for some reason you would need to sell in the next couple years, you could find yourself in a situation where you may be upside down, i.e. the cost of selling the home (commission and closing costs) is greater than the proceeds you would net from the sale, meaning you would have to bring money to the closing rather than leave with a nice check. For these reasons, it is a good idea to make sure and do your homework.

About The Author: Kimberley Kelly is a La Quinta Real Estate specialist with more than 11 years of experience helping home buyers and sellers with their Palm Springs real estate  transactions. For more information on Kimberley, please visit her Palm Desert Real Estate website.

As a Calgary Real Estate Agent I know that when it comes to selling your home you will want to get it noticed by potential buyers, one of the most important steps you can take is to increase what industry expert refer to as a home’s “curb appeal.” By increasing the curb appeal of your property, your home will be more attractive to potential buyers. In turn, these potential buyers will be more likely to contact a Realtor to learn more about your home. The good news is that increasing a home’s curb appeal is easier than you might think. Here’s a look at 5 easy steps for increasing your home’s curb appeal and getting your home sold.

Step #1: Keep Your Lawn Mowed

A well-maintained lawn is attractive to most buyers, so make sure your lawn is kept short and that any bare spots have been repaired. If necessary, re-sod or re-seed parts of the lawn that are not up to par.

Step #2: Keep the Landscaping Manicured

Even if your landscaping is minimal, be sure to keep it well-manicured in order to increase your curb appeal. If you have bushes, for example, they should be properly trimmed without any branches touching your house. Also, keep in mind that a little fresh mulch can go a long way toward brightening up your yard and increasing its curb appeal.

Step #3: Clean Up Clutter

Having a cluttered lawn when trying to sell a home will be a major turn-off to potential buyers. Of course, if you have children, keeping your lawn free of clutter can be even more difficult. Still, you need to be diligent about making sure there are no toys or other items lying in your lawn. Check regularly for trash that may have been tossed into your yard, for fallen branches and for any other clutter in your yard.

Step #4: Wash the Outside of the Home

Depending on the exterior condition of your home, you may not have to do too much to make it appealing to buyers. If it is in poor condition, you may have to make repairs, to paint the exterior or to replace siding. If it is in good condition, however, you can simply power wash the exterior to make it clean and attractive.

Step #5: Add Flowers

Adding flowers is a great way to liven up your yard while also making it appear more attractive and better maintained. The good news is that you don’t have to plant flowers in your yard in order to achieve this look. Simply adding a few hanging pots or attractive patio pots with annuals will go a long way while increasing curb appeal – and you can even take the pots and flowers with you when you move!

About the author: Crystal Tost has been a residential Calgary real estate agent for over 15 years. For more information on current properties for sale view MLS® Calgary

Consideration #1: Location

Everyone knows that whether discussing Denver real estate or Austin real estate or elsewhere, the number one rule is location, location, location. Clearly, the same is true when it comes to equestrian properties. When considering the location of an equestrian property, you need to think about all the ways you plan to enjoy your horse. If you want to take your horse out for trail rides, for example, you may want to look for a property that is located near to horse-friendly parks. If you plan to show your horse, on the other hand, you will need to be sure to select a location near a good road system that will allow for easy transport.

Consideration #2: Land Size

Many horse owners dream of having enough land to ride their horses on their own property or to build a riding stable. Even if you aren’t looking for enough land for these purposes, a general rule of thumb is to have at least 1.5 acres for your horse. If you plan to have more than one horse, you should purchase an additional acre for each additional horse. This way, your horses will have plenty of space to roam and to graze.

Consideration #3: Land Quality

In addition to land quantity, you also need to consider land quality. Keep in mind that neglected land can be quite difficult to revive, so look for land with a good pasture for your horse to enjoy. When considering the quality of the land, be sure to also think about water quality and accessibility. Horses drink plenty of water, so you want to be sure the water you need will be easy to locate and to provide to your horse.

Consideration #4: Buildings

If you don’t want to have to pay extra money toward constructing stables and other buildings, you may want to narrow your choices down to only those properties with buildings that are in good condition. Remember, stables and other outdoor structures that are in poor shape can be quite costly to renovate. Therefore, you need to seriously consider how much more you are willing to invest in the property if it does not have the necessary structures or if the structures are in need of repair. Before you start visiting properties, it is a good idea to create a list of those features you are looking for in the property.

Consideration #5: Cost

Clearly, you will need to have a budget in mind when looking for an equestrian property. Again, when considering how much you are willing to invest in the purchase, be sure to consider the purchase price as well as any additional costs that may be necessary to get the property up to standards.

About The Author – Eric Bramlett is co-owner and broker of One Source Realty, a boutique Downtown Austin real estate firm, and specializes in Steiner Ranch.

We think this will be one of our BEST programs, so don’t miss it!

When:
August 16, 2011 from 4:00-6:00 pm

Where:
Denver Board of REALTORS® Office
4300 E. Warren Ave.
Denver, CO 80222

RSVP: jwolff@denverrealtors.org or 303-300-8483.

We need two to three more agents for our Internet team who will deliver high end customer service to our online prospects and clients.

If you have experience, are motivated, and looking to improve your earnings and success, please feel free to contact us.  We would like to visit with you about what our team has to offer.

Qualified applicants must meet the following minimum criteria:

• Possess a current Colorado real estate license.
• Must be a member of any Colorado Board of REALTORS®
• Should possess outside sales or business experience.
• Have ready access to computers and email at all times.
• Must have a mobile phone with full email capabilities.
• Be Internet savvy and willing to learn new technology and systems.
• Be financially stable, and able to work 50+ hours per week when needed.

We welcome highly motivated, inherently positive, friendly sales professionals!

Contact us to arrange a confidential interview at Info@TheHomeCart.com.

The Home Cart Team
Brokers Guild – Cherry Creek Ltd
7995 E. Hampden Ave, Suite 100
Denver, CO  80231

www.TheHomeCart.com/CareerOpportunities

The Cost of Purchasing an Older Home

Unless the home is of some sort of historical significance, the selling price of an older home is generally less than the selling price of a newer home. When purchasing an older home, however, it is important to remember that older homes typically require a certain amount of remodeling or maintenance. As such, the long-term costs of purchasing an older home may be about the same as purchasing a new home. While new homes can also experience problems, an older home is far more likely to need systems to be replaced or other improvements to be made.

The Location of the Older Home

In general, older homes are located in areas that are well established. As such, numerous businesses are likely to be in the area. At the same time, because the neighborhood is established, there may be little room for expansion. As a result, the value of the home may not increase as quickly as the value of a new home in an up-and-coming neighborhood. Whether you’re shopping for Bethesda condominiums or a home in Hawaii, working with an agent who’s knowledgeable in your area will be especially helpful in this arena.

The Energy Efficiency of an Older Home

Since older homes typically have less efficient insulation and older windows and doorways, they typically are not nearly as energy-efficient as new homes. As such, you will either need to deal with the poor energy efficiency or you will need to be prepared to invest in new insulation, windows and doors in
order to improve the energy-efficiency of the home.

Modernization Options with an Older Home

While some older homes do have modern technologies such as garbage disposals in place, many are outdated in terms of advanced technologies. If you can live without these technologies or if you simply prefer a more classic look, this might not be a problem for you. Otherwise, you will need to be prepared to invest more money into the home in order to bring it up-to-date.

About the Author – Kevin Koitz is a Washington DC native who specializes in Potomac homes for sale.

In many real estate markets there is a specific day of the week that offices conduct brokers opens so that agents can see as many homes as possible as efficiently as possible. For example in the Fort Lauderdale Real Estate market it is traditional to conduct brokers opens on Wednesday from 12 – 2 and invite agents for lunch.

Selling your home is very much like an election with three voters. Local REALTORS® will get to vote by deciding if your home is the right home to show their potential buyers. The buyers will get to vote by deciding if your home is the home they are ready to write an offer on. Last but not least, you will get to vote with the guidance of your Realtor by the acceptance or countering of any offer. To win this election it simply needs to be unanimous.

Being a unanimous vote is what you need to sell your home your first goal has got to be to win the primary. This is the vote of the local real estate community. It is their vote to show your home. In order to win the support of the local real estate community you need to be open to discussing the things that will best show your individual home with your Realtor. Very often a kick off point to the sales process involves a brokers open or office caravan, and simply it’s your 10 ten minutes to stand out and get the agents talking.

Nobody can replace your local REALTOR® in helping you prepare but here are some common sense tips to make sure your home is talked about positively after the brokers view it.

1- Clear as many surfaces as possible, put away the family photos, the excess kitchen stuff, the things that are on your bedroom dresser. The more things that are put away the larger the home will look and the more people will focus on the home.
2- Make sure all the lights are on and working, light bulbs that are out certainly get more attention than ones that are working. In addition, all lights on can go a long way in preventing anyone from ever thinking the home is a “little dark”.
3- Open as many doors as possible, including doors to the yard, allowing people to walk freely without having to open doors will always make a house feel larger and more pleasant to stroll around.
4- Purchase fresh flowers, have a source for soft music and make your home feel as much like a staged model as possible. It will make agents smile.
5- Last put not least, take the family pet out for the day. Simply not everyone likes pets, and nobody likes hearing “don’t go in there we have the dog locked up”. Its time to show your home and off limit spaces simply don’t work.

Even if you and your realtor decide not to do an open house for brokers, following the tips above will assure that the early showings of your home will result in Realtors talking positively about your property. These tips will help you to make sure that realtors keep your home on the top of their showing list for all their potential buyers, ultimately this will help you to reach your goal, a great offer on your home.

About the Author – Eric Miller, Broker Associate at Keller Williams Realty Fort Lauderdale is an award winning agent in the top 1% of REALTORS® nationwide. If you are considering a Fort Lauderdale Home, or a Ft Lauderdale Condominium, Eric and his team are always here to help.