Real Estate Information Center

Once you have learned all the scripts and persuasion techniques and committed them to memory, you still have one more thing to do. That’s practice! You need to practice your prospecting techniques over and over again until you know the material backwards and forwards. It’s best to practice by sitting in front of a mirror so you can watch yourself. Do you hesitate, do you move around a lot, are your confident and so on? When you feel confident that you know the material and how you are going to present it, practice on a spouse or friend and ask for feedback.

Remember, when you make a call or presentation to a potential seller, you are basically performing and will be judged based upon that performance. The old saying that “practice makes perfect” is especially applicable to the real estate business. The more you practice, the better you’ll be. The better you are, the less scripted you will appear.

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You have heard the horror stories. A friend buys a home that is now literally crumbling around her. Somebody took shortcuts, and her home was not inspected before she bought it. Now she is stuck and can not do anything about it. A home inspection before the sale would have made the deal honest and prevented headaches and heartache later for this friend and concerned family members.

These days it is tempting to cut corners, usually with the idea of saving money. However, a home inspection is a worthwhile investment. If you are planning to sell a home, an inspection can identify problems in the making and suggest preventive measures that might help avoid costly future repairs. A home inspection gives you the opportunity to make any necessary repairs now that will put the house in better selling condition. In the real estate market today, having your home pre-inspected can be a great selling point.

Plus, you’ll have the satisfaction of knowing you are doing the right thing for the people who will be buying the home. It means a lot for them to know they can count on their new home to be a place they are proud to live in with few hassles. It also protects you from possible problems.

Continue reading ‘If You Are Selling a Home – A Home Inspection Helps Seal the Deal’ »

Financial Planners often focus on developing tax-free cash flow streams in order to manage taxes during retirement. While many mention the Roth IRA, few talk about the benefits you can receive by downsizing your home and moving into a lower priced one. How can one get tax-free income from downsizing? If you have met certain requirements, up to $500,000 of the gain you realize on the sale of your current residence can be tax-free. The IRS suggests that you keep the following tips in mind when contemplating a home sale:

1. You and your spouse each area allowed a $250,000 capital gains exclusion when you sell your home.

2. To qualify for this exclusion, you must have lived in the home at least two out of the last five years.

3. You must have used the home as your main residence.

4. If your capital gain does not exceed your exclusion, you do not need to report any gain on your tax return.

5. If your capital gain exceeds your exclusion, you then must file the capital gain on Schedule D of your 1040 return. You will only be taxed on the gain that exceeds your exclusion. Currently, the maximum tax for long term capital gains is 15%.

Continue reading ‘Seven Things to Know Before Selling Your Home’ »

Basic rule in real estate is that all properties are unique and no two transactions are alike. Whether you are a first time home buyer or a repeat, it makes sense to obtain a service and to work with an experienced broker or agent who knows the community, has seen numerous homes for sale, knows local values and has spent years negotiating property transactions.

–Search. The best place to find a local agent is the internet. The others are a local builder association, open houses, local advertising, referrals from other agents, recommendations from neighbors, and suggestions from lenders, attorneys, financial planners, and past clients.

–Interview. Talk with many agents to get a personal “feel” before selecting one to work with. A good agent you eventually chosen to work with could be one of your most valuable resources. The interviewing process will help you evaluate the agent’s ethical stance and trustworthiness issues as well as his or her competency. Agents should have a thorough knowledge of the property market in their communities, familiar with local zoning and tax laws.

Continue reading ‘Choosing a Real Estate Agent’ »

There are many ways available today to get money to deal with your specific needs. Payday loan is an option to get money in your bank account in not more than few hours. But, these types of loans come with a lot of interest which is the reason why some people don’t like this particular option. Also, it is not possible to use this option if you need a lot of money. That’s exactly the situation when you can actually make use of an option, called “sell and rent back” your home.

What is sell and rent back?

Although lots of people now use this option and its widespread use have helped this industry to grow in an amazing way but there are people who still no nothing about it. If you are also one of those persons, it is enough to know that it is an option where you sell your home to an investor and start living as a tenant in the same home. What it means it that you get the money you need without saying goodbye to your home sweet home.

Continue reading ‘Learn Why and When You Must Consider the Option of Sell and Rent Back’ »

I often ask agents, “If you had to segment your business into two sections, what would they be?” Most of them initially want to negotiate for more segments. They don’t want to look at their business in such black and white terms. Here is how I feel the business breaks up into two sections. It would be sectioned off into creating customers and servicing customers. Those are the two major categories in a sales business. I then ask, “If you only had the option of being exceptional at one, which one would you choose?” For many agents, again, they really don’t want to look at the option of excellence in only one. One of the marks of excellence as a Champion Agent or Champion Team is excellence in both. I would contend that few agents and few teams achieve this.

When confronted with this tough decision, most agents would rather achieve excellence in customer service. They feel that is the pathway to a growing, sustainable business.

Continue reading ‘The Lead Agent's Primary Job’ »

Excited about shifting to your new home and planning to sell the old one? Or simply need to sell your home for other reasons? Either way here are a few home selling tips to help attract potential buyers to your home.

You need to pay attention to certain aspects of your home if you intend to sell it. The asking price is a factor that most people you advice you about. It is an important part of enticing buyers, but there are other qualities or features that make your home an individual entity. Besides the price you can attract a buyer with the beauty, coziness, functionality etc of your home.

Another thing that you could do to evaluate your home is to think like a buyer. What aspects of your home would attract you? What features of your home would convince you in its favor?

Continue reading ‘Home Selling Assistance – Useful Tips For Selling Your Home’ »

Are you trying to sell your property, but all efforts fail? Do you try everything but still wake up every morning to see the For Sale board firmly planted on your lawn? Here are a number of clues why your property is still on the market:

1. You’ve Got the Price Wrong
Unrealistic expectations are a seller’s biggest enemy, which is why over-priced property is the most common reason why a property doesn’t sell. Make sure you price is in-line with similar properties on the market.

2. Your Location is Not Right
We all know how important location is when you buy property. Unfortunately, as a seller, there is little that you can do to rectify this. Rather focus on getting the price right and a buyer might just see past the doubtful location.

Continue reading ‘10 Reasons Why Your Property Has Not Sold Yet’ »

So you want to know how much do home appraisals cost? Well, the price of a home appraisal varies depending on the type of appraisal you want. There is no doubt that getting an accurate home appraisal, if you are a buyer or seller of property, will save you money. This article will explain the most popular types of home appraisals and how much they cost.

Professional Home Appraisal – When buying a home you will most likely have to get a professional property appraiser to appraise your home’s value. This is not to protect the buyer, but instead it is to protect the bank that is lending you money. The appraisals normally cost between $250 to $500 dollars depending on where you live and the size of the home. This type of appraisal is fairly accurate. The appraiser will come to the home for a couple of hours, take pictures and then provide a report in a day or two.

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Are you ready to invest in income property but not sure what level of service to expect from your real estate agent?

Investing in income property can be a stressful experience, but remember, your real estate agent is there to help you every step of the way. As a Buyer, your agent will be compensated by the Seller at the close of escrow. What this means is that while she works for you, she’ll be paid by the Seller for her services. Fees typically average 2-2.5% of the purchase price, so on a $500,000 purchase, your agent will earn between $10,000-$12,500. Some of this money will go to her brokerage firm and to cover costs, but remember that your agent is being well paid for her job. So take advantage of her services to the fullest to ensure the smoothest and most enjoyable experience.

So, what should you expect from your agent? First, once your agent has your search parameters, she will set you up to receive daily updates from your local MLS or other services. This will allow you to see all the new listings that come on the market in your price and criteria range. Most clients like to drive properties on their own, and only bring their agent with them once they’ve identified a property they’re interested in. Continue reading ‘Working With Real Estate Agents – What to Expect?’ »