Negotiation skills are key to having a great real estate professional on your team.
Read this article published in REALTOR Magazine by RE/MAX Prestige's Broker...
As a full-time real estate broker, I have had the pleasure of interviewing with many potential Orange County homeowners for the job of selling their homes. I have been on listing appointments all over Orange County and been in every situation from being asked zero questions and hired on the spot to very aggressive interviews with lists of questions, credential verification, and commission negotiation. Every experience is unique, one from which I am able to learn and apply to my knowledge base for professional growth.
If the only reason why you are hiring a Realtor is so that your home shows up in the MLS, then save yourself thousands of dollars and just pay a "flat-fee" brokerage to list the home. Tip: make sure not to pay too much, because it's not worth that much!
Every property is unique with its own positive and negative features in the eyes of potential buyers. Trained real estate professionals can identify these things in order to exploit and market the property properly and attract the most eyes.
Market conditions can change from month-to-month or week-to-week and the availability of competing properties can greatly influence the demand and desirability of a home, so like everything else in life, sometimes timing is everything. Real estate professionals understand this dynamic and should address this factor.
An effective real estate marketing plan is not general and takes into account the specific property, current real estate market conditions, market trends (i.e. move-down buyers), financing options, and much more.
Yes, negotiation skills and strategy are two different things and they arise in many forms throughout a real estate transaction. In fact, most sellers do not realize negotiations start the second you hire a Realtor. If the person you hire is a push-over then they will probably be a push over in negotiations.
Some of the most common areas for negotiating and re-negotiating during the transaction are: during showings, during verbal conversations, in the written offer, home inspection, and appraisal. Each of these areas is a potential point in the transaction when hundreds, if not thousands of dollars can be lost. Real estate professionals should know this and understand how to avoid any monetary loss to their clients.
Sometimes these negotiations are not very obvious or explicit, so dollars can fly without even realizing it. Hire someone who is in your corner, not someone who is going to ask you to concede on every issue that arises.
Did you know one of the top complaints among consumers and real estate professionals about real estate agents is a lack of or poor communication! It is critical to the success of any transaction that ALL parties are easy to reach and responsive. This is especially critical during the marketing period, when potential buyers and agents are excited about a new listing. Real estate agents should be able to adapt to any communication method whether it be via phone, email, text, face-time, facebook, or face-to-face. When most buyers are represented by real estate professionals it is important that your agent responds to every communication from a potential buyer or agent!
Every real estate professional should have a value proposition that differentiates them from the competition. If someone does not have a value proposition then why hire them?
Short sales offer a significant advantage over having your home foreclosed that could significantly help you in the future.
Simply put, a short sale describes an agreement between the seller and the bank to accept a much lower amount of money than what is owed on a mortgage, usually as a way to avoid a foreclosure on the property. Used to for decades, short sales have worked well for the banks that save the hassle of losing huge amounts of money through a foreclosure sale.
While there may be properties in your community sold as a “short sale” not every seller qualifies. The eligibility for qualifying for short sale differs depending on the area, available Government programs, specific lender programs, and many other individual requirements specific to the seller. One of the most common requirements for any short sale is that of "hardship". Any seller applying for a short sale must be able to demonstrate some type of actual hardship or foreseeable circumstances which would affect their ability to meet the obligations of the loan. Hardship can be defined as a job loss, injury, medical condition, or a decrease in wages, for example. The 2nd most common requirement is that the home you currently own must be worth significantly less than the money you owe. Every lender will have a set of qualifying criteria for the available short sale programs, typically listed on their website.
At first glance, having your home foreclosed appears to clean the slate of your financial troubles. However, that is simply not true. A foreclosure on your home could leave you with a huge IRS tax liability while still owing the money to the bank. Even with exemptions from the Mortgage Debt Forgiveness Act, there are situations that you might be taxed on a foreclosure. Always check with your CPA before allowing a foreclosure to happen.
The single greatest advantage of having a short sale over foreclosure is it leaves you in a better financial position. Nearly 100% of all short sales will not cost you any out-of-pocket funds. The process is much simpler than believed, and you can purchase a home in as little as 2 years after the short sale.
Unfortunately, due to the many complications from tax liability, changing laws, and legal and financial consequences it is impossible to make a blanket statement on which one is better in every situation. The best approach is to contact a trusted and experienced real estate professional who has access to a CPA, Attorney, and all the other professionals needed to provide you with the information to make the best decision. Be cautious of those offering loan modifications or other programs guaranteeing principal reduction, even if offered by an attorney. California law prohibits many of these activities, for more information visit the Bureau of Real Estate website at: http://www.dre.ca.gov/Consumers/AdvanceFees.html. Reputable real estate professionals will always provide objective information to consumers and support responsible home ownership.
Sellers think twice about open houses. There are few instances in which an open house is actually beneficial. Read more at our blog: Open House - Waste of Time, Most of the Time
In an industry where "help" can be found anywhere, it is crucial to team up with an individual you can trust whom gets the job done. The key components in my arsenal of service include: consistent communication, transparency, and effective techniques that cater to my clients' best interest.
I take pride in providing all of my clients with unique care and expertise that goes above and beyond the call of duty. The first step in working with me includes a Homebuyer's Counseling Session to allow for a comfortable environment to ask questions before the process begins. The appointment is a great opportunity for delivering relevant information about the market conditions pertinent to my clients' goals, needs, and desires and also sets up the expectations for both parties. By having a thorough and well-versed understanding of the entire cycle of the transaction, each client proceeds with the next steps more comfortably, being already familiar with each item/term previously mentioned. Additionally, by taking the time to align a strategy with each unique situation, I am able to target what specifically needs to take place to obtain the desired result. This has proven to be much more effective than randomly viewing property.
Within my first 8 months in real estate, I have already completed more transactions than 99% of Orange County Realtors in 2011. I have experience in representing buyers and sellers in short sale transactions, investment properties, standard sales, and REO/bank owned homes. I have had the pleasure of working with families, newlyweds, individuals, and roommates. The theme to every transaction remains the same: first-class service.
Whether you are looking to purchase a home, an investment, get top dollar for your house, or need advice regarding a distressed situation, I am more than happy to assist and look forward to meeting you!
Amalfi Hills is a distinguished new home community in the Vista Del Verde area of Yorba Linda. This master-planned community is comprised of two developments, The Sorrento and Positano Collections. Situated around the Black Gold Golf Club and set in the north western hills of Yorba Linda Orange County, these homes provide prospective buyers with luxury and serenity. Not to mention Amalfi Hills is part of the new multi-million award winning Yorba Linda High school which is less than a 5-minute dive away. These new homes start in the low $1,000,000's and range between 3,200 - 5,400 square feet.
In addition, the low tax rate and HOA dues make these new luxury homes more affordable and without sacrificing any of the amenities. Do not miss out on this great opportunity to purchase one of the few remaining new luxury home developments in Yorba Linda. Orange County real estate is a hot commodity and there are few remaining buildable parcels that offer this location, so buying homes like these is a once in a lifetime opportunity. If you need help selling your home in order to purchase our real estate professionals will develop an individual marketing plan to sell your home for top dollar in the current real estate market. Call your local RE/MAX Prestige real estate agent to find out more information on this new home community and to schedule a private showing 714-660-4008.
RE/MAX Prestige is located in Anaheim Hills Orange County on the border of Yorba Linda. Conveniently located near the 91 freeway off ramp, this office was created for the real estate professional of tomorrow. Whether you are buying or selling real estate in Orange County, hire a RE/MAX Prestige REALTOR. The Orange County Real Estate market has had its challenges over the past few years with all the foreclosures, short sales, and distressed homes for sale, so it is more important than ever to hire the best real estate agents in Orange County. Protect your home values and investments by calling RE/MAX Prestige today for a no obligation consultation.