Real Estate 101

Our mission is to help our buyer- and seller-clients make sound, informed decisions about real estate. We use the home buying and selling process to educate our clients rather than telling them what to do.

Here in Real Estate 101 you’ll find answers to questions our clients have asked. If you have a question and don’t see it here, email it to us. We’ll get you an answer, and you just might see it included in Real Estate 101.

For questions about Selling, click here.

For questions about Buying, click here.

For general questions about Real Estate Representation, click here.

Selling a Home 101

1. How important is internet advertising in selling my home?
Critical. The internet has surpassed print in reaching buyers. 84% of all buyers use the internet to shop for houses. Buyers are 10 times more likely to purchase a home they find on the internet than one they see in print or the newspaper. For an example of how we use the internet, please take a moment to explore our site and visit Our Listings.

2. I keep seeing one agent's For Sale signs in my neighborhood. Should I list my home with that agent?
Look beyond the signs. Interview more than one agent. How many of their listings have successfully closed? How do they market their listings? How will they communicate with you? Check references. Call or email for a free checklist to use when interviewing real estate agents.

3. I have a friend who sells real estate part-time. Should I list my house with him?
Hiring a real estate agent is a business decision. Interview your friend along with full-time agents to see what knowledge, skills and services are not provided by the part-timer. When time is of the essence in negotiating, closing and coordinating attorneys, lenders and appraisers, will your friend's "real job" get in the way? Call or email for a free checklist to use to interview real estate agents.

4. I know my home needs some work. Is it OK to put it on the market like it is and offer a decorating allowance?
It's very important in today's market to have your home in tip-top shape before bringing buyers through. Most folks can't envision how nice your home could look. And few today have the time to make improvements after they buy. We recommend that you do all you can up front. For tips on making your house look great, see some of our recommendations. Call us and we'll help you make sound financial decisions in preparing your home to sell.

Buying a Home 101

1. How can this buyer's market be good for a seller?
A buyer's market can work well for a seller, especially when a seller is also a buyer. You may find that any concessions you make in selling your home are minimal compared to the opportunity to buy your dream home at an affordable price. The key is having the right agent-one that is experienced and credentialed, with a proven track record of production and client satisfaction. Call or email for a free interview checklist to help you choose your agent.

2. What should I expect from a buyers' agent?
Good buyers' agents explain the purchasing process, recommend reputable lenders, help evaluate prospective homes, and that's before you ever make an offer. When selecting your agent, look for one with the Accredited Buyer Representative (ABR®) designation, the benchmark of excellence in buyer representation.

3. What is a buyer representative and why should I use one?
A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. Research by the National Association of REALTORS has shown that when a buyer's representative was used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.

The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has the buyer's best interests in mind throughout the entire real estate process. A buyer's representative will:

• Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
• Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
• Assist in viewing properties--accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
• Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
• Advise the buyer on structuring an appropriate offer to purchase the selected property.
• Present the offer to the seller's agent and the seller on the buyer's behalf.
• Negotiate on behalf of the buyer to help obtain the identified property--keeping the buyer's best interests in mind.
• Assist in securing appropriate financing for the selected property.
• Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
• Most importantly, fully-represent the buyer throughout the real estate transaction.

4. Why should I use an Accredited Buyer's Representative (ABR®)?
Why should you look for the ABR® designation before looking for a home? These three letters after a REALTOR's™ name tell you that you will be working with a buyer representative who is committed to your best interests. The ABR® Designation is awarded by REBAC® to those REALTORS™ who have met the specific educational and experiential criteria needed to provide the high level quality service required by REBAC® (Real Estate BUYER'S AGENT Council).

Real Estate Representation

1. What's the difference between a full-service real estate brokerage and a discount company?
Full service companies are very hands-on--helping you prepare and price your home to sell, spending time and money on marketing for maximum exposure. They show your home, negotiate offers and handle the multitude of details necessary to close on time. Discounts on commission often mean less exposure, service and/or experience. Call or email for a complete list of services and free interview checklist to help you choose your agent.

To submit questions for Real Estate 101, contact Bill (601) 624-2444, Bill@BillHetrick.com, or Marilyn (601) 624-1021, Marilyn@BillHetrick.com.