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Private Real Estate

Have you ever wondered how much work goes into selling your Private Real Estate? I hear that agents work 7 days a week 12 hours a day selling property. If an agent were to sell around 15 Private Real Estates at any given time, then they would spend about 6 hours on average per property. The commission rate is around 2% plus any advertising fees. Effectively the agent is earning around $2,500.00 per hour. Pretty good if you ask me.

When you sell your own home would you earn $2,500.00 per hour? Good chance you wouldn’t have the knowledge requirements agents have accumulated over the years. Therefore would you agree that the agent is worth every penny they earn given their levels of expertise in the industry.

What does a agent do that a home owner can’t?

The agent will prepare your home for sale. Actually, the home owner does most the work. A home owner will clean and tidy up the house, the garden and de-clutter the place. You will even find that some Private Real Estate owners will do a few touch ups around the home that require maintenance.

“Sale Contracts” are also required to be drawn up. An agent will organize this. This is done by contacting the Home Owners conveyance or legal representative and have them put together the document. An agent will never put pen to paper your lawyer will.

An agent will also need to organize the For Sale board and Photographers and prepare all the necessary brochures. They will also need to write a brief description about your property and place ads online. Bare in mind for as little as $270.00 there are companies that can do all that for you when it is time to Sell Your Own Home.

An agent will conduct open for inspections, follow up on prospective buyers and negotiate the sale price. Well, in fact anyone could handle this simple process and if you handle this you might even get much better service and managing the buyer enquiry as you will most likely have a better response about your own home.

In recent research conducted in NSW, Australia found that “more often the seller will get a better price than previously quoted by an agent”. This will be because the sale price will be of more importance to the seller compared with the Real Estate agent.

Get Rich in Real Estate Selling

One way to get rich fast selling Real Estate is to sell houses that for one reason or another may be going into foreclosure or to buy houses from people in financial distress and putting them on the market.

Let People Know You Sell Houses for Cash

It is not enough to decide that you want to sell Real Estate for cash. Only part of your job is finding the houses to sell by looking for houses for sale by private owners on the Internet or in newspapers. You also need to take that step to advertising who you are and what you do. You can put ads anywhere: in your local newspaper, in your local Pennysaver, on real and virtual boards and on your website. You can also send direct mailing offers through mail or email offering to buy houses cheap.

It’s Better to Resell than Rehab

The easiest and fastest to way to make money flipping Real Estate is not to fix and flip the house yourself but to put a deposit down on the house and then be the middle man who sells it to someone else. This way you are not investing a lot of money but you are reaping big benefits from the sale. You often don’t have to put down much of a deposit to secure these houses. Once the contract is signed all you need to do is find someone who wants to buy the house wholesale.

Advertise Cheap Houses for Sale

Your final key to success is to let people know that you sell foreclosed homes. Buy a home for pennies on the dollar from a desperate seller and then sell it for more. You can then advertise this information on a website, newspaper or anywhere. It is easy to find people that want to rehab the house for a profit or even just someone who wants a very cheap house.

As you can see it is not putting a lot of money into a broken down or cheap house but rather becoming the middle man and then selling the Real Estate for more than you paid for it.

The Need For Home Inspection in Real Estate

The last thing that you want to happen when selling your real estate property is encounter complications and incidents that will affect the transaction in a negative manner. The good news is that there are simple things that you can do to make sure that these things do not happen during the settlement process. One of the key elements in as far as effective real estate selling is concerned is the proper appreciation and conduct of a comprehensive home inspection. A critical part of the task is the clear understanding of the key elements of home inspection.

Major Issues Involving Building Integrity

1. Termite Damage and Infestation

This is one type of damage to real estate properties that you don’t want to lose control of. Termite infestation is a reality that you have to face when you have untreated pine. These dreaded pests are capable of literally turning to dust the wooden structure of your dream home in just a matter of months. A reliable home inspection activity must be able to check spots and places in the home for termite trails. Specifically, the home inspection report must provide data and information about any structural timber that may have been affected by termite infestation from the floor joists to ceiling supports.

2. Proper Settling of the Home Foundation

This is a critical structural issue that must be properly noted in the home inspection written report. Both hairline and structural cracks may develop and affect slab foundations as the ground becomes wetter or gradually dries over time. Structural and cosmetic repair to correct these structural anomalies must be properly reflected in the written report. One of the more serious issues that you must be concerned with is your possible liability in instances where plaster and masonry fall as a result of cracks and problems in the lathe and plaster.

It is also crucial to check for possible damages and structural issues affecting the main line within the interior as well as the exterior part of the building structure. The major cause of these problems is the movement of the building structure. This is not a common problem to gas and electricity utilities though you may have to thoroughly inspect PVC pipes as these materials can develop fractures even with the slightest shift of the building structure.

3. Short-Cuts in the Construction Process

This may be perceived by some to be a bit too critical about the home inspection process. However, we have to emphasize the need for us to meet the minimum standards such as the width of mortar joints for bricks. Your failure to comply with the required norm can seriously affect the structural integrity of the building structure. Other structural issues that we have to contend with are the buckling of floors and the use of uncured or untreated wooden components in portions of the structure where down-pipes are installed.

4. Problems in the Plumbing System and Septic System

It is extremely important that you check the plumbing system of your real estate property prior to home inspection. The inspection activity will involve the opening of multiple faucets simultaneously to check water pressure. The septic system will also be inspected for possible drainage problems. Inspection of the septic system is usually done with the use of dye. The presence of the dye material above the septic drain field is an indication of a drainage problem.

5. Unsafe and Inadequate Electrical Systems

The configuration of your circuit breaker and electrical panel must meet the minimum safety standards required for your home. The home inspection activity shall cover the receptacles found in the kitchen and bathroom that contain the safety circuit breaker for system overload and short circuit. The written report will confirm the presence of such receptacles and not the inferior “work-around” handiworks which are usually not wired properly.

Common Pitfalls in Real Estate

We easily blame the moribund state of the real estate market for our difficulty in selling our real estate property. This may be true in many instances. However, there are certain variables that most of us fail to consider when we are putting our property on the selling block. Before we finally attribute to the down market our inability to bring in prospective buyers for our real estate property, it is crucial for us to do some house cleaning and assess the things that we have done and have not done in regard to the sale of our property. The depressed condition in the market is not the only reason why we fail to get a good deal. In most instances, buyers make mistakes and errors in judgments which ultimately result to breakdown in the negotiations with prospective buyers.

Mistake #1. Pricing your Property out of the Market

Price is king in as far as real estate selling is concerned. This is especially so during times when the market is going through extreme lows and highs. Being a seller, you will naturally want to get the most out of the sale. Unfortunately, you may end up outside of the buyer’s radar range if you price your property excessively high. Worse, prospective buyers may develop unrealistically higher expectations from the property you are offering for sale.

Mistake #2. Inability to Keep an Open Mind

Buyers tend to react and resist low offers from hard-nosed buyers. Most of the real estate sellers who fail to make significant headway in their offer to sell are those who are not able to handle prospective buyers who engage in hardball negotiations. In most instances, negotiations break down and no deal is reached. In these times when buyers dictate the tempo in the market, you must anticipate every possible scenario in your negotiation with prospective buyers.

Mistake #3. Failure to Link with the Right Buyers

One of the major reasons why most deals don’t push through is the failure of buyers to raise the agreed amount for the real estate property. Your prospective buyer may actually have a poor credit rating or does not have sufficient liquidity to meet the down payment. In which case, you end up with a botched deal and together with it all the lost opportunity of finding a better and more qualified buyer.

Mistake #4. Failure to Make an Effective Real Estate Showcase

This is probably one of the most unforgivable mistakes that a buyer can commit. Before you even make any move, you must have to make sure that your real estate property definitely meets the basic requirements of a valued property for sale. Look at your home from the standpoint of a buyer and assess all the things that may turn you off from buying the property. Most basic things that must be attended to are the basic repair, repainting and cleaning of the house and its surroundings. An unkempt and rundown property will never attract serious buyers.

Mistake #5. Hiring Unreliable Brokers

Your real estate agent is supposed to be your strong and reliable link to the most qualified potential buyers of your property. Unfortunately, buyers fail to see the importance of due diligence when it comes to their real estate agents. You must only hire the services of brokers who have the initiative, capability, experience and network to create the opportunity that can give you the best deal with the most qualified buyers at the shortest possible time frame.

A Surefire Guide to Making Successful Real Estate

For most of us, real estate selling is the last thing that comes to mind during times when the market is moribund. Even for those who know how to play their cards right, getting the best deal from potential home buyers is considered wishful thinking. The price levels in the real estate market, especially for detached family units, are still low. In a recent market report released by Merrill Lynch, there are now an estimated 2.2 million units of condos and single homes that are on sale. This is about 1 million more units being sold under normal conditions in the real estate market.

If you are planning to sell your property, it is important that you carefully consider your asking price. Real estate experts consider the price as the single most crucial element in the entire selling process. You must be very aggressive in as far as pricing is concerned and you must be able to give incentives to be able to get the attention of a lot of buyers.

In general terms, these experts raise a valid point. However, the task of selling is easier said than done. Under prevailing conditions in the market, you have to think outside of the box and consider other intangibles to be able to move forward. Suffice it to say, selling properties in an over-stocked market is possible and you increase your chances of clinching a good deal if you consider some of the best practices for an effective real estate selling.

* Choose the Right Broker

You need all the help that you can get in order to make a good deal under the present condition in the market. One of your major concerns is getting the services of a professional and competent broker. It is important for you to be able to get lead information on real estate agents who are actively involved in the listing and selling in your locality. A good and reliable broker must be able to give you fairly good presentation to assess the value of your property as well as the relevant figures about the proposed sale and the game plan in marketing the property.

* Know and Understand the Market Conditions

One of your most important responsibilities as a seller is to keep abreast of the current trends and indicators in the real estate market. You need to have a keen sense of understanding of leading, concurrent and lagging indicators in order for you to get the proper timing in selling your real estate property. You must also be able to get the feel of variables which bear great impact in making a good deal in a predominantly depressed market. For instance, you may sweeten the deal by adding incentive for specific upgrades or repairs at the buyer’s option. Your real estate broker must also be able to give you updated details of current sales of real estate properties in your area as well as other properties which are similar to the one you are planning to sell.

* Be Flexible and Use Figures to Your Advantage

You can add some incentives to whet the interest of the buyer and effectively seal the deal. You can resolve issues involving the price of the real estate property by offering to share part of the closing cost. This can be a good proposition if the buyer is insisting on price reduction which is very likely under a buyer’s market. Most mortgage plans allow about 3 to 6% of the closing cost as seller contribution.

Sometimes, you have to go the extra mile just for you to clinch the sale. A simple accommodation on the amount of earnest deposit can go a long way in making the buyer agree to your terms of the sale. This is purely a judgment call and if you have a prospective buyer who has a pre-approved loan and seem to exhibit a strong interest in the real estate property, then it might be wise for you to reduce the deposit in order to bring in the sale.

Reasons Why Miami Beach Real Estate

Miami Beach, beautifully located on the shores of the Atlantic Ocean in Miami-Dade County, Florida, is world-famous for its long stretches of powdery-white sandy beaches, vibrant nightlife, classy art-deco districts and wonderful real estate choices.

Although the oceanfront is the main tourist attraction, it isn’t the only draw. The city is also host to a wide array of upscale restaurants, and a number of museums and galleries.

Prospective home buyers have plenty of reasons for moving to Miami, and these include frolicking in its wonderful scenery, soaking yourself in the city’s thriving nightlife and diverse culture, as well as relishing the thought of living in one of the best locations in the country.

The Best Reasons Why Miami Beaches’ Real Estate Sells

As mentioned earlier, the city not only has its magnificent beachfront to offer home buyers. Among the major drawing points of this diverse city are the following:

– One of the greatest advantages of owning a home or a condominium unit in Miami Beach is the fact you are living close to around nine miles of sandy, palm-fringed 300-foot wide beach fronts, where you and your family would enjoy swimming, sunbathing, fishing, jet-skiing, and doing a host of other water sports activities. This area is also convenient venue for avid and casual walkers and joggers, as there is a boardwalk along the northern part of the beach.

– In close proximity to the famous beachfront are the city’s arts, production and entertainment communities, which add extra essence to the appeal of owning property in Miami Beach.

The city’s Bass Museum of Art exhibits fine art, and the Miami Beach Garden Center and Conservatory contains exotic flowers and flora. From the world famous nightclubs of the 50’s, to the rich cultural life of today’s modern South Beach, the district has a rich history as a major arts center.

– Lots of housing and property options. The city’s property markets are on an upbeat mode, despite the current slowdown in the US housing and credit markets. There are plenty of waterfront houses and estates for sale, as well as thousands of available pre-construction condominium units up for grabs. Prices have, at the moment, remained stable, enabling buyers to choose among homes and condos which have varying prices, which appeal to both middle and upper income market brackets.

– Improved urban development plans. The City of Miami , along with Miami Beach, has further strengthened its resolve to ensure the success of the city’s continuing development surge.

Outdated zoning ordinances are now being completely revamped, as a new citywide development plan, which is overseen by the Miami Downtown Development Authority, is being implemented, which city officials vow “will balance new development with revitalization and preservation of the neighborhoods”.

– The Miami Beach City Commission has recently unanimously approved a tax cut for homes. New home tax rates are pegged at $5.897 for every $1,000 of assessed property value. This move represents a significant 23 percent drop from this year’s rate of $7.67, according to City Manager Jorge Gonzalez.

Real Estate

Planning on selling your home? It can be a bit overwhelming and obviously stressful as you want to get the best price possible. Here are some real estate – selling tips to help you out:

De-Clutter:

We ALL have too much clutter in our homes. Over the years (even months) we accumulate stuff – grandma’s favorite vase, that amazing offer of the best mixer that we actually never use, etc. etc. A buyer is overwhelmed looking at too many things in your home. They want to see simplicity and also subconsciously that there is room for them and their possessions.

Get 3 boxes together – one for items to throw out, one to keep and store, and one to sell. Go from room to room and don’t give up until you have left very few things in your room. You boxes will fill up quickly so get more. Also remove those extra clothes and shoes from closets and draws. Check out the linen cupboard, even the kitchen cupboards and drawers. Only leave what is really necessary for you to live in your home until it is sold.

You can then gift items to charity, have a garage sale, put everything else in storage (including furniture, paintings and mirrors, etc.).

Your home will look empty to you but will look absolutely fine to prospective buyers.

Remove Personal Items:

Prospective buyers do not want to see photos of your family or paintings your child did and certainly they want to see a refrigerator with a clean door and not one clogged up with drawings, reminders, etc. Put them away and include in your storage items if you want to keep them.

Clean Your Home:

Polish those wooden floors, clean your windows until they shine. This goes for the remaining artwork you have hanging and mirrors. Work magic in your kitchen with the countertops and sink. Also make sure the inside of cupboard doors and shelves are clean too. In the kitchen, this particularly applies to the drawers you keep cutlery in and other kitchen utensils. This can often look a mess so organize as well.

Tidy The Garden:

The same applies to your garden as your home. Make sure the grass is cut and the trees and bushes are not overgrown. If you do not have any flowers in the garden and it is the summer season, buy some planters and hanging baskets and put them on the patio and at the entrance to your home. Clean the patio furniture and arrange it invitingly.

Attend To Little Fixer-Upper Issues:

If you have a leak or if the baseboards need renewing, do it. These things get noticed. Many buyers will automatically flush all toilets to make sure they work.

Home Inspection:

You can go a step further and have a home inspection done. This way the inspector will let you know if there are any issues that should be fixed. The buyer will want a home inspection of their own, but this way you can honestly tell buyers that the house has had its own home inspection and that can help sell your home faster.

Real Estate Selling Tip

There are many things you can do as a seller to enhance the appearance of your home and the chances of selling your property. One of these important things you must do when selling your home is freshen up the walls. Keep all of your walls neutral and make sure they are all clean. You need to make sure and fill any holes or gouges that are visible to the human eye. It is definitely a negative for a potential home buyer to walk through a home and envision themselves fixing their new home up. While some color is good for space, it is not OK to have a shocking color in a home you are trying to sell. Even if it goes with your furniture, pillows or drapes, it more than likely will not go with the potential home buyer’s things who is attending your home showing.

I say paying attention to your walls is a must because it can brighten up a room, make your space look modern and clean, and even better it is a small investment (very low cost) that can help excel the process of selling your home.
When it comes to painting, you have a few options; you can do it yourself or your can hire a professional painting company. If you have the time and you are feeling creative go ahead and paint your walls yourself. If you do not have the time or if it is something you do not feel compassionate about, I would recommend not taking the do-it-yourself approach. A fresh coat of paint can look bad if there are smudges on the trim or ceiling or if the paint isn’t spread out correctly. If you think it is a project you are going to get frustrated with I would suggest hiring a painting company.

There are several nice things about hiring a professional painting company to freshen up your walls. Obviously a nice thing about hiring someone to paint for you is saving your time and money. Painting supplies can get expensive and if you do not already have the tape, paint brushes, ladders and drop cloths you are looking at a good chunk of change. A painting company will be able to paint your walls much faster than you would because of their fancy equipment and years of experience. When you hire a painting company they will also take care of the holes or scratches in the walls and move your furniture back when done.

Hopefully this article will help you understand why giving your walls some attention should be on your home improvement list to help increase your chances of selling your home. Whether you paint the walls yourself or hire a company to do it, you will end up with a clean looking space that is sure to help the real estate selling process.

Real Estate Selling Mistakes

No matter whether the real estate market is going up or down, there are some things you can do to almost guarantee that your home will sell faster, easier and for a little more money than compared to a similar house in the same street.

However there are some big real estate selling mistakes that many home owners overlook that could affect their ability to sell their properties. Let’s look at some of the biggest real estate selling mistakes home owners make.

1. Poor Condition

Selling real estate that is in poor condition will mean an instant reduction in the potential price you could have set for the sale. Trying to market a home that is in poor condition or a home that has obvious maintenance issues that have been ignored is a sure way to put off many potential buyers.

People will automatically assume that if a house has any minor maintenance issues showing, then there must be bigger maintenance issues beneath the surface. Take some time to complete any repairs or maintenance on the home.

2. Real Estate Staging

Selling real estate is about trying to attract potential new buyers into thinking a property is the right place for them to raise a family and build their own memories. Most people who sell their homes overlook the importance of real estate staging prior to a showing. Giving your house a quick wipe over with a cleaning cloth and putting the dishes away is not enough.

Buying a home is an emotional purchase for most people. Buyers want to walk into a home and feel good. They want to imagine how their own furniture will look in each room and how their own decorations will brighten up each room.

Taking some time to freshen up paint with a light, neutral color and then removing all your personal finishing touches, such as your family photos, kid’s toys and some ornaments will make each room in your home look more spacious and more open. If you have big bulky furniture, either re-arrange it so each room appears bigger or borrow smaller furniture from friends and family.

3. Street Appeal

People selling real estate often overlook the importance of street appeal. Many home owners spend a lot of time fixing smaller maintenance issues within the home, but only take a moment to run a lawn mower over the yards.

Potential buyers want to be able to drive up to the front of a house and immediately feel that the home is appealing and attractive. Overgrown trees and shrubs obscure the house from the street. Prune them back or cut them down. Open up the yard with border plantings to make the land plot seem bigger than it really is from the street.

Real Estate Selling the Dream

When it comes to real estate, most homeowners tend to focus on the technical aspects of selling their property. While details are important, it is vital to understand you are selling a dream.

Real Estate – Selling the Dream

One of the more infamous clichés is every scam is built on the idea of hope. Common sense tells you those Nigerians sending spam really don’t have 20 million dollars in an account, but you probably hesitate just a bit because a small part of you hopes it is true. While this cliché is undeniably cynical, there is a lesson to be learned from it when it comes to selling your property.

When selling your property, it is important to understand what buyers are purchasing. They are not purchasing a three bedroom, two level home with a two car garage. They are not purchasing a big backyard or a nice neighborhood. Okay, technically they are, but this represents only a small bit of their thinking. In truth, they are purchasing something much bigger and important.

When house hunting, it is important to understand that buyers are purchasing a dream. They are not really focusing on where they will sleep at night. When they see your property, they are creating a mental image of themselves living there. The image can include things ranging from how they would arrange furniture to envisioning kids playing in the yard to mention only a few things. In essence, they are purchasing the hope of a great living experience.

When getting ready to put your home on the market, it is vital that you understand what the buyers are looking for in a property. Yes, walls and accessories are important, but they are really buying a lifestyle. This means you need to accentuate the strong living points of your property.

Most people loosely refer to this as creating curb appeal. In truth, it goes beyond the mere appearance of the home. You want to make the home seem livable, not austere as many mistakenly do. For instance, you should always be baking something that smells delicious when showing the property. For many buyers, this will translate the home from a piece of construction to a livable space and make it easier for them to imagine living there.

One of the best tactics I ever saw in this regard was a seller who whipped up a meal on the grill. He then invited the potential buyers to sit with him, eat and ask any questions they had. He started reciting all of the things that had happened with his family while living in the home. The buyers became much more comfortable with him and the home. They subsequently made an offer and he accepted.

Obviously, you probably do not want to be barbequing each time someone comes to look at your property. That being said, you should focus on presenting your home as a clean, but livable place where the buyer can imagine themselves living for the foreseeable future.