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The
5 Most Important Questions To Ask A Realtor
Before
letting them represent you...
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1. Why did they choose Real Estate as a career? Is it only a hobby? Make sure
your agent is full-time and serious about their career. Ask them about their
compensation: Does their broker provide all the overhead so there is no investment by the
Agent or do they share in the expenses, thus creating a need for them to provide good
service? Many Agents are the second income earners for the family, or they just "like
people". These are not motivated Agents. Find one that makes Real Estate a
full-time career and depends on it for a living. Stay away from any Agent that has
a vague answer to this question or is in Real Estate just because their other careers
didn't work out or they are semi-retired.
2. Are they computerized? This goes beyond the obvious computerized
multiple listing service. If they are not at least on the multiple list system start
walking away! Today's Agent should have as a minimum their own desktop or laptop PC
and use it to store client data, record conversation notes and publish flyers. The
Agents on the cutting edge operate nearly paperless and utilize computer faxes and high
quality publishing and printing capabilities. All serious Realtors have a World
Wide Web Site!!!
3. What is their education and training? Do Jim & Pam have specific
training beyond the real estate license courses? These courses and many of the continuing
education courses required by the state do little to enhance the ability of an Agent to
find you a home or sell you one. Look for agents with education related to Real
Estate or marketing & sales. Many non-credit sales training courses and
seminars also provide good training. You should choose an Agent that is an
expert in their field not just picking it up as they go along. Many new
agents provide greater benefits to their clients because of their education and past
experience.
4. Do they have "Real World" experience? First they should
have at least owned their own home at some point; preferably several homes. How can
someone help you if they have not gone through it themselves? Also, assuming this is not
their first job, have they been in related business fields with similar skill sets? An
outside sales rep, advertising copy writer, marketing consultant, etc. will bring much to
their Real Estate careers. It may be more difficult for a former teacher, accountant or
skilled laborer to transition into Real Estate. Careful questioning will reveal if they
have what it takes.
5. What is their pricing & negotiating strategy? This answer should
be "it depends". There is no fixed % to negotiate on a home, it depends on
the market and Seller motivation. Two principles should dominate your purchase
price strategy. First, if you have been looking at similar homes in a price range you know
what you can expect for your money. The market determines price. Second,
your agent should provide you with data on other homes that have sold in the area. This
will allow you to determine sale price trends. This data should then allow you and your
Agent to determine what you are willing to pay and the best way to get to that price.
This report is based on personal experience and published articles. It
is presented as opinion only and not meant in any way to slander Realtors who do not agree
with its content, or to solicit currently listed properties.
These are just a few of the most important
things to know about during the home buying process. Call us with any questions about
buying or selling your home. we will be glad to help.
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- Introduction to Home Inspections
Whether you are buying a pre-existing home or building new.... It critical that
you consider having your home professionally inspected!! No home is perfect and not
even the current owner may know of hidden problems or defects that could devalue your
largest investment or cause serious injury to you & your family. What if you
close on your new home only to find that major repairs are needed? The ideal
situation is that the inspector finds no major problems, giving you peace of mind. A
good inspector will educate you on the proper maintenance and upkeep of your home while
offering suggestions to make it safer and increase its value.
- Question & Answers
What is an inspection?
An inspection is a visual examination of the physical structure and systems of a house. If
you are thinking of buying a home or condominium, you should have it thoroughly inspected
before the final purchase by an experienced and impartial home inspection inspector.
Why do I need an inspection?
The purchase of a home is one of the largest single investments you will make. You should
know exactly what to expect -- both indoors and out -- in terms of needed and future
repairs and maintenance. A fresh coat of paint could be hiding serious structural
problems. Stains on the ceiling may indicate a chronic roof leakage problem or may be
simply the result of a single incident. The inspector interprets these and other clues,
then presents a professional opinion as to the condition of the property so you can avoid
unpleasant surprises afterward. Of course, an inspection will also point out the positive
aspects of the home, as well as the type of maintenance needed to keep it in good shape.
After the inspection, you will have a much clearer understanding of the property you are
about to purchase, and be able to make your decision confidently.
As a seller, if you have owned the home for a period of time, an inspection can identify
potential problems in the sale of your home, and can recommend preventive measures
that might avoid future expensive repairs. A pre-sale inspection can be a valuable
marketing tool and can help you determine a proper listing and sale price. Finding
problems ahead of time can allow you to make repairs before receiving an offer thus
avoiding unwanted negotiation. Also, major repairs found during the buyer's inspection may
cause them to get a "bad feeling" about the house and back out of the sale even
if the repairs will be made.
What does an inspection include?
A complete inspection includes a visual examination of the home from top to bottom. The
Inspector evaluates and reports the condition of the structure, roof, foundation,
drainage, heating system, central air-conditioning system, visual interior plumbing, and
electrical systems, visual insulation, walls, windows, and doors. Only those items
that are visible and accessible by normal means are included in the report.
Inspections are largely comparative in that they compare your home to the homes similar to
yours in age and construction to determine their condition. Items that are not working,
defective or at the end of their usable life are also evaluated.
When do I request an Inspection?
The best time to consult the inspector is right after you've made an offer on your new
home. The real estate contract usually allows for a grace period to inspect the building.
Ask your Real Estate Professional to include this inspection clause in the contract,
making your purchase obligation contingent upon the finding of a professional inspection.
I am buying a new home, do I need an inspection?
Most definitely! New homes should always be inspected. Ideally the inspector should visit
the home during all phases of construction or about 5-6 times. This is so problems can be
corrected as it is built, if there is a foundation defect there is not much you can do
after the framing starts and if there is a framing, plumbing, electrical or heating
problem, it will be virtually undetectable after the drywall is installed (at least until
the problem becomes larger which could be years). That is why you cannot depend on a
warranty. If you do not know the problems are there how can you get the builder to repair
them? What about county inspectors? Unfortunately with the volume of homes being built the
county inspection is often just a rubber stamp, barring any thing falling off the house.
The builder and site forman, despite their best efforts, do not have time to look over
every detail of the home. The contractors often let areas they are aware of go unrepaired
WARNING! If you are buying a new home, your rights to an inspection, its scope and your
choice of inspector may be severely limited by the language in the builder's contract.
Review all new construction contracts carefully!
Can a building "fail" an Inspection?
No. A professional inspection is simply an examination into the current condition of your
prospective real estate purchase. It is not an appraisal of a Municipal Code inspection.
An Inspector, therefore, will not pass or fail a building, but will simply describe its
condition and indicate which items will be in need of minor or major repairs or
replacement. If it is a new home, code violations should be sited. To actually fail or
pass code is something the county or city inspectors must do.
What if the report reveals problems?
If the inspector finds problems in a home, it does not necessarily mean you shouldn't buy
it, only that you will know in advance what type of repairs to anticipate. A seller
may be willing to make repairs because of significant problems discovered by the
Inspector.
If the report is favorable, did I really need an inspection?
Definitely! Now you can complete your purchase with peace of mind about the condition of
the property and its equipment and systems. You may have learned a few things about your
property from the inspection report, and will want to keep that information for future
reference. Above all, you can rest assured that you are making a well informed purchase
decision and that you will be able to enjoy or occupy your new home.
Should I attend the inspection?
It is a good idea. By following the inspector through the inspection, observing and asking
questions, you will learn about the new building and get some tips on general maintenance
information that will be of great help to you long after you've moved into your new
home.
Do you have more questions about home inspection? e-mail us
or call, we answer them on the spot and you may even find them on this page in the
future!
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