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Blog4 - Ask These 3 Questions to Choose A Game Changing Real Estate Agent

Ask These 3 Questions to Choose A Game Changing Real Estate Agent

Real estate agents are a vital part of your real estate experience. Landing the right agent is an important first step whether you are buying or selling in the real estate industry.

Real estate agents are important. First, they bring a plethora of skills and knowledge that support you all throughout the process. Their presence also brings an air of professionalism that can aid the sale or purchase of a property.

If they are good to work with and professional enough, they could attract other agents who could help spread the word.

Also, there isn’t much to lose here. If the house isn’t sold for example, they don’t get a cut.

Now that you’ve learned why a real estate agent is important, here are three questions you need to ask when interviewing a real estate agent to ensure you get the best one possible for your transaction.

ra2 - Ask These 3 Questions to Choose A Game Changing Real Estate Agent

Ask if They Are Part of a Team

It is imperative that you find out whether the real estate agent you are speaking to is part of a team or not.

An agent with a team has a great number of benefits. Different members of the team have different pieces of knowledge and levels of knowledge that can help in different situations.

However, the real estate agent should disclose the arrangement upfront and as clear as possible. The worst thing that can happen is expecting to work with one agent and then being passed around from agent to agent. This could cause more problems than it solves.

Ask How Long They Have Been in the Real Estate Industry

This is quite an important question to ask. The reasoning behind its importance lay in how their payment system is structured: commissions.

While years of experience does not necessarily reflect the capability and success of an individual, in real estate the agents get by with commissions. It would be particularly hard for an agent to survive for several years without much commissions.

So, if you find an agent that has been working in the industry for numerous years, it would be fair to assume that they have a good closing record. And you want a person who closes deals on your team.

Additionally, a longer term in the industry will mean more experience for many different types of situations. This is a good thing as they will less likely be rattled when new circumstances arise.

ra - Ask These 3 Questions to Choose A Game Changing Real Estate Agent

Ask How Many Buyers and Sellers that they Have Worked With

Usually, when you talk to a real estate agent, you find out that they work predominantly with either buyers or sellers.

It all boils down to experience for this one. If you are selling, but the agent you are questioning is mostly only familiar with buyers, then you may not expect him to understand what is going on in a seller’s mind. The opposite also holds true.

Apart from that, if you find an agent who has experience with both buyers and sellers, then you may only need one real estate agent for multiple transactions throughout your life.

Real estate agents are an essential cog for any transaction. Be sure to ask these questions and pick the right one for you.

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Post Author: Day Alvin

Blog3 - Just Look for These 4 Features that Indicate if a Property is Profitable or Not

Just Look for These 4 Features that Indicate if a Property is Profitable or Not

Real estate is not just a personal endeavor. Sometimes, real estate is purchased in the hopes of making money out of it as well. If you are looking to get into the landlord business and rent out your property, you should look at these four features before you even buy the property. These features will indicate if a property is profitable or not.

How Far is Civilization?

As the saying goes, location is everything. This is especially true when families and homes are in the mix. While the area might look good on the outside, you must consider its general location in relation to civilization.

Your newly rented property might look good. However, one deal breaker is that it takes too long to drive to the nearest school, or hospital, or even mall.

If a piece of real estate is far from these essential areas – and is in the middle of literally nowhere – then you may want to reconsider your purchase.

Inversely, if a property is close to schools and hospital, this would increase the value of the property by quite a bit. This is great news for a future landlord.

pt - Just Look for These 4 Features that Indicate if a Property is Profitable or Not

Property Taxes

Are you aware that each piece of property has property taxes? Are you also aware that not all properties have the same property tax rates?

If you are planning on renting out a house you just purchased, you might be losing more than you are earning when property taxes are considered.

While high property taxes are not always a bad thing, it is rare to have the ideal situation of a nice neighborhood with long-term tenants staying there.

Also, even if your property has low property taxes, you must also consider the possibility of a town raising the taxes due to them being in dire straits.

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What the Future Holds

There might be a big plot of land in the near vicinity of the property you are eyeing. Whatever the developers have planned for it could spell the difference between profitability and loss.

For instance, if a commercial center or a mall were to be developed nearby, you can be sure that the value of the property and how much you can have it rented out will be increased.

However, this could work negatively as well. If whatever will be developed will serve to damage the environmental sensibilities of the area, that might drive ore people away.

In addition, if there are new housing units being developed, those could serve as competition for you.

If you’d like to know of any future developments in the area, the municipal planning department will have all the information that you are looking for.

pt2 - Just Look for These 4 Features that Indicate if a Property is Profitable or Not

Disasters and Accidents

The safety of the community or property is an essential factor to consider. Could there be flooding in the area? Is the property on a fault line? If it is near the water, could a tsunami wreck everything?

Insurance is naturally the best course of action for this. It could help prevent taking heavy losses from these calamities. However, it is also a big expense that will take away from any profits you might be taking.

Keep an eye out for these four factors and you just might pick the right piece of property that you can rent out without any hassles.

Post Author: Day Alvin

BLog1 - 3 Essential All-purpose Real Estate Tips that Will Help You Adapt to the Market

3 Essential All-purpose Real Estate Tips that Will Help You Adapt to the Market

The real estate market is a fluctuating creature. For the uninitiated, it may be hard to read and understand it sometimes. Don’t worry though. These three essential all-purpose tips will help you adapt to whatever fluctuations the market has.

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The Agent Matters

No, this doesn’t have anything to do with the Matrix. Instead, it relates to real estate agents. These agents are a good gateway to the best knowledges and practices in the real estate industry. That is, if you’re lucky enough.

Choosing the right agent matters. Even though they take a fee, their expertise should be enough to support you in your endeavors.

real2 - 3 Essential All-purpose Real Estate Tips that Will Help You Adapt to the Market

In addition, the presence of a professional and talented real estate agent could lend credibility to your offers. If you are selling a house, the right agent could help attract more buyers and agents.

Just ensure that the agent you get is one that is pleasant to work with. Oftentimes, an offer is rescinded based on what the opposite party’s agent says about your own. Find a pleasant agent to work with.

Don’t Delay

A study conducted by the National Association of Realtors in late 2017 shows that almost half of the home sales in America are expected to be sold to millennials aged 19 to 34. Most of these come from urban rentals.

Know what this means? This means that there is a bidding war out there.

For first time house buyers, of course we acknowledge that finding the right house is very important. However, if you take too long, there might not be much left to pick from.

real1 - 3 Essential All-purpose Real Estate Tips that Will Help You Adapt to the Market

Know the Market

Depending on the state of the market, the conditions here will dictate whether it is better to sell a house or buy one.

As per Texas A&M University Real Estate Center’s information, a perfectly balanced market will only stay that way for six and a half months.

If there aren’t enough houses to go around, of course sellers will thrive in this period. Inversely, if there are too many houses, buyers can come out and take their best picks.

But what if you are selling a house when there are already too many houses on the market? This is when you have to seriously consider lowering your prices or throwing in some freebies.

If you’d like to understand the nature of the current market you are in, just head to the National Association of Realtors’ website more data and articles for you to read.

The real estate market does fluctuate. However, that doesn’t mean that you can’t understand what happens when it does. Keep these tips in mind and never feel confused again.

Post Author: Day Alvin

BLog2 - 3 Financing Methods to Purchase Real Estate and their Benefits

3 Financing Methods to Purchase Real Estate and their Benefits

How exactly does one go about buying a house? What can I do? Are there any other different options to take for these purchases? If these questions are running through your head, then you can stop worrying now.

This article will discuss three different financing methods to purchase real estate, as well as the benefits of each. Read on through and find out what method best suits you.

The All Cash method

When people hear “All Cash”, they instantly think about those briefcases in movies that contain stacks upon stack of bills. While this isn’t totally wrong, the term all cash has a very specific meaning.

When someone says all cash, it is a term that is specific to real estate. It means that the buyer will be purchasing the piece of real estate with their money alone. This means that they will need no financial help from institutions or banks.

finance2 - 3 Financing Methods to Purchase Real Estate and their Benefits

This is seen as the simplest, easiest, and quickest method of purchasing. It is pretty straightforward.

One benefit of the all cash method is that oftentimes, buyers can secure a lower price for the piece of real estate, as well as close the deal quickly.

Sellers are keen on all cash offers as they will not need to wait a long time for a big amount of money.

When the time to pay comes around, there is no need to bring one of those movie briefcases. In these instances, buyers usually transfer the funds to a title company, and the title company ends up paying the seller.

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Delayed Financing

Delayed financing is in a way like all cash. Just like the all cash method, buyers buy a property only with 100% cash that they have. Again, they have no financial help from banks and rely on the all cash offer to win the deal.

They then go into a type of mortgages situation that allows the people who recently bought the house to take money out against it immediately. Previously, there was a minimum of six months to wait for before taking out cash. With delayed financing, that is no longer the case.

In doing so, this helps free up some cash right after your purchase. You can use that cash to make other investments or even re-invest in the house by using it to pay for home renovations.

financ - 3 Financing Methods to Purchase Real Estate and their Benefits

Another benefit is just alleviating the financial risk that the new purchase has given you. They always say that purchasing a property is a big step. Delayed financing allows you a little breathing room after your all the cash you spent.

If you’d like to learn more about delayed financing and even apply for it, check out Guaranteed Rate’s website now.

Portfolio Lenders

Portfolio lenders act pretty much like mortgage lenders. However, there are slight differences.

The loans that portfolio lenders give out is specialized for real estate properties. Therefore, there are different requirements to these such as income and credit levels. Additionally, the portfolio lenders keep the loans in-house, oftentimes using their own money, so they don’t need to adhere to a bank’s strict requirements for example.

We hope you learned some new financing methods for purchasing real estate and that one of them has piqued your interest and lead you to want to explore buying a piece of property.

Post Author: Day Alvin