Real Estate 101
Our mission is to help the public make sound, informed decisions about real estate. Since an educated buyer or seller makes better decisions, we are running an information campaign in The Clinton News, "Real Estate 101."
Check back frequently to see the latest questions answered. Email us with a real estate question you'd like to have answered. We'll get you an answer, and you just might see it included of Real Estate 101.
Question #11: 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.
Question #23: 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.
Question #30: 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.
Question #207: 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.
Question #208: 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.
Question #209: 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).
To submit questions for Real Estate 101, contact Bill (601) 624-2444, Bill@BillHetrick.com, or Marilyn (601) 624-1021, Marilyn@BillHetrick.com.
