Posts with tag 'Selling'

When I meet with sellers their first question is what do you think the price is going to be?

This is an understandable question.  Your home is your most valuable asset, and you want to get the best price for it.  

So how do I as a real estate agent come up with a price for your home?

First, it is important to understand that real estate agents do not set a price.  Rather, I study what the market is doing, and tell you using as many facts as I can, where I believe your home is in the current market.  The two things that determine your homes price are, first of all, what will the appraisal property of the home be.  A licensed appraiser, hired by the buyers lender, will determine for the lender if the value of your home can back the mortgage amount the buyers is applying for to purchase the home.   The second thing that is considered is what buyers are wiling to pay for the property.  I know this second one seems obvious it's basic high school economics...

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When you decide to sell your home you can call for a listing packet to look through before our meeting.  Other than the price of their home, most sellers next questions are around the listing contract itself.

1. How much is the commission?  Commission is 6% of the final sales price.  My broker will collect a 6% commission at closing.  The broker will then give 3% to any other broker that brings you a buyer.  I will be paid out of the 3% my broker keeps.  In addition to this 6% commission there is a $245.00 Broker Fee.  The Broker Fee goes toward covering administrative cost and the processing of the transaction.  All of these fees are...

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In the state of Pennsylvania, an oral agreement in real estate is not legally recognized.  Therefore, in order to be represented by a real estate agent as a buyer you must have a signed buyer's agency agreement.  

So what does this Buyer Agency Contract entitled you as a buyer to.  First, it ensures that a real estate professional is representing your interest, and not only the seller's interest.  You will have someone to explain and walk you through each step of the process, assist you with the lending process and getting connected to a lender.  You will have someone to help you find the home you are looking for, as well as help with negotiating the right price and terms for you.  You will have an advocate with lenders, appraisers, and the seller's.

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So you have decided to move.  Either you are selling your home, or maybe you have decided it is time to buy that first starter home.  You contact a real estate agency, and set up an appointment.  While getting in the car you say to yourself repeatedly, "I'm just asking question, gathering the information, no commitments yet.  I am not going to sign anything."  You arrive at the real estate office, are greeted by an the agent, and sit down, and the first thing that happens is a form is put infront of you, that the agent says you need to sign.  Your excitement falls, this wasn't the plan, and now your just looking for the door.  I just wanted to talk to somebody about moving you think to yourself.

Honestly, I get it! I am just like you.  I hate feeling like I am pushed into signing something, and I will try to avoid it.

So let me take a few minutes and explain this form that was put in-front of you.

The form is called the Consumer Notice, it has the PA...

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