R.O.C.K.I.N.G Real Estate Agents - G is for Guiding
Well now, power outages, severe thunderstorms and down internet lately in Monroe, Ohio, but finally back for the 8th and final installment of R.O.C.K.I.N.G Real Estate Agents.
Guidance. Ever wish someone had guided you through something that seemed complex, intricate, difficult or loaded with grey area, obscure or difficult aspects. We all have, and at times guiding others based on our experiences. Many young people buying a used car with no experience in auto-mechanics will take a parent, relative or friend with them to inspect a car, in hopes of not "landing a lemon".
With real estate though, there's no lemon law, only court. Add to that, ever wish someone had told you something earlier that might have saved you money or heartache before making some sort of purchase. Guidance is golden.
Good Real Estate Agents Guide Clients
Buying or selling, guidance based on knowledge and experience can save time, money and grief. I'd like to give you a couple examples, one for buyers and one for sellers to illustrate how important wise guidance can be for a client.
Of course that would include making sure your Realtor is a good one and not one of those Agents to Avoid.
- One thing I'm always sad to hear is a homeowner going into foreclosure. Most bankruptcies happen over $300 a month cash flow issues. Have one mishap or unfortunate event and it can all go ka-blooey in short order. My business partner Marty and I always advise buyers to not max their pre-approval with a home purchase but to stay around 80-90% which can make a huge difference in a safer monthly budget. Marty takes extremely good care of our clients in SW Ohio as told by his Zillow reviews.
- We also advise clients to never forego inspections, even on a new home. You wouldn't believe the number of horror stories I could share about buyers finding out about expensive and time consuming things that should have been addressed prior to taking possession, even on recent construction and luxury homes.
- Another thing we both advise soon-to-be buyers is how to "up and protect" their credit score. Before a purchase and all during the active contract period, it's easy for buyers with borderline and even good credit to blow it. You don't want to hear a day or two before closing that the loan officer cannot complete the loan.
- We also spend a great deal of time working with buyers that need "above-and-beyond" assistance with feasible financing for their unique situation. We let them know what programs and loan products will likely work for them, and which ones won't. USDA and OHFA are wonderful loan products for working around lack of down payment funds.
- Many buyers ask us "What type of home is the best deal?" HUD, traditional, foreclosure? Some buyers are convinced that one is somehow better than the other, but that's just simply not true. Many don't understand that when purchasing a distressed home with financing, Federal law prohibits you from doing the repairs yourself. But that's what FHA renovation loans are for. Once buyers realize that, they tend to ditch the rotten properties and look for something in much better shape.
The list of things a good real estate agent can guide buyers on is a long one, but I think you get the idea.
Sellers sometimes need a lot of guidance too, and a lot of topics for discussion here as well.
One of the most important things to nail down is the seller's time frame to sell, which has everything to do with pricing a home correctly to achieve the desired goal(s). Agents will do a CMA or Comparative Market Analysis to determine fair market value, pulling reports on asking prices vs actual sold prices and expired (overpriced and did not sell) and provide you with a range. The lower range is for those that need to hurry up and sell soon, the medium price range for more net but still selling in a timely manner and the maximum suggested price range for those sellers that can afford to sit and try to net every penny.
I have to add to this for sellers trying to net every penny possible; don't deny showings. Get your butt out of the house and let it be shown, and don't be at the house during the showing. Believe it or not, it's not in your best interest if you want the home sold.
Then there's preparing to sell, which can range from little to larger fix-its, properly staging, and having the home perfectly ready for photography. Pictures sell homes, and good pictures sell homes better. My colleagues and fellow Dayton area Realtors Chelle and Melle Wiggins (they'er brilliant) have some awesome short articles about properly staging kitchens, foyers and beautifying the curb appeal go a long way.
Again, that's just a few of the things a good real estate is going to give a seller guidance on.
Good Real Estate Agents R.O.C.K.I.N.G. (summary of good characteristics)