Tuesday, September 20, 2016

Home Buyer Tips: How Long Does It Take To Buy a Home in Florida?

While holding an open house recently I had a visitor remark they "were buying a house in a couple of months."

My follow up conversation brought to light three red flags.  
  1. The lack of understanding about how long the purchase process takes; 
  2. No effort was made to obtain mortgage pre-approval or pre-qualification; 
  3. Friend who does mortgages.
Why are these red flags?

First, this is a first time home-buyer who really had not been educated on the process.    Since he had no real estate agent that is quite understandable.

The first step in the home buying process?  Get a local knowledgeable real estate agent you can trust.   Here is a quick summary of the home purchase process in Florida - Contract to Closing in Twenty Steps!  Who pays for the buyer's real estate agent?  The seller. 

Secondly, a seller (and a real estate estate) wants to have some confidence of a prospective buyer's ability to pay.  Seller's do not want to take their home off the market without confidence the transaction will close.  Real estate agents get paid only after a deal is closed.

Unless paying cash, it is critical a prospective buyer know what they can afford (including acquisition costs).   If a buyer can't afford a property everyone is just spinning their wheels!


Lastly,  buying a home is very often the largest financial decision many buyers make.  Trusting a "fiend," relative, or anyone without an understanding of their experience is a major risk.


Take a look at these home buyer articles.

agent@moving2brevard.com

Friday, September 16, 2016

Choosing Your Realtor: Want a Listing Agent or a Seller's Agent?

When I speak with prospective home sellers in the Viera, Florida area I like to point out the difference between having a home "For Sale" and home "listed" in the multiple listing service (MLS).

Put another way.....There are two types of agents to choose from  - "Listing Agents" and "Seller's Agents."

What is the difference?   Mechanics and results.

There are the mechanics of listing a home which most real estate agents can manage to complete. 
Then there are the results...  Sold!  Sold! does not just happen.  

Sold! is the culmination of a planned process with a realistic achievable goal.

What does the process involve?  

Beyond the basic steps like listing agreements, disclosures, signs, entry into the MLS system, etc. there are the details of the process like providing advice and counsel regarding pricing and preparation.  There is the communication and responsiveness to the client and prospective customers/buyers.   There is the development of a marketing plan that makes sure the pool of most likely buyers know the home is for sale (more than a sign and MLS entry).

Here are a few articles on the home selling process...

For additional information on how to sell your Melbourne, Florida home, call or text me at 321-693-3850.  

Remember, real estate agents get paid when property is sold - not listed.


agent@moving2brevard.com

Thursday, September 15, 2016

Selling Your Home: Grey Poupon is Not Just Mustard!

Grey Poupon is a brand of whole-grain mustard.  I remember many of the commercials on TV where some person asked "Pardon me, Do you have any Grey Poupon?"

The point of the commercials was simple - distinguish yourself from the competition and get noticed.

To me Grey Poupon is not just mustard because I see it differently from any other yellowish condiment.   The marketing and presentation made it stand out.

How does this apply to selling a house?

In many communities, like our Viera (Melbourne), Florida planned unit development, many of the subdivisions are "cookie cutter" developments built by a single builder with only a handful of models.  While some have different front elevations on the surface there is not much difference.  Not only does this apply to single family homes but this can be especially a challenge when selling condos where there are usually only maybe four different floor plans in an entire complex.

The challenge when selling is to differentiate your home from the others...distinguish yourself and get noticed.

The seller's real estate agent must put together a marketing plan that makes the home stand out.  Of course the easiest way to make a house stand out is price. 

Some sellers take this approach by pricing at the lower end of the market and thereby encouraging competition among buyers.  When the inventory is low this could be a great approach.


Your house may be gold on the inside but in some communities it may look the same from the outside.... Start the selling process by thinking  "Grey Poupon." 

After all, your house is not just a house.

 Image courtesy of Sira Anamwong at FreeDigitalPhotos.net

Wednesday, August 31, 2016

Home Seller Tips: An open house brings all sorts of unknowns into the process.

There has been a lot of discussion about the benefit of an open house - especially for the seller.   The reality is very few homes are ever sold by the agent at an open house.

Not every house is a candidate for an open house either.  But, if an open house is considered then there are preparations required by sellers and their real estate agent. 

Consider this incident...  "Real estate agent reportedly lets in jewel thieves during open house; $150,000 in loot stolen" 

Among the several thoughts that came to me was Glad it wasn't me!   Some of the other thoughts included 
  • The headline makes it sound like the agent was almost a willing party who "lets in" the crooks.
  • It appears there was only one person on site.
  • The preparation phase was inadequate.
  • You never know who is watching.
I am sure the agent did not open the doors to the thieves on purpose.

An open house brings all sorts of unknowns into the process.   

The neighbors, tire kickers, people just wasting time and an occasional prospective buyer may show up at an open house. Thieves can easily dress up as a buyer and even ask the right questions!

It is incumbent on a listing agent to determine the requirements of the open house and bring additional persons to help in the case of a large property.

Sellers need to be aware that strangers will be perusing their home.   Most real estate agents do not have personal knowledge about the character of the customer.  Sure, the buyers are pre-qualified based on ability to purchase and motivation but anything else is rarely known.

Sellers must prepare for selling by removing or securing valuables especially highly pilferage-able, small items like jewelry, money, laptops, etc.  Sellers should secure items like firearms, medications, and important personal papers (financial, passports, etc).

Finally, the good news...  There was a surveillance system.   Real estate agents and buyers need to always be aware that they are potentially being video-recorded.   In this case the agent did not have to try and explain the missing property!

The seller did indicate that this was his last open house.  His advice - "appointment only.'"  After all, you never know who cometh through the front door!

Ready to sell your Melbourne, Florida home?  Call or text me at 321-693-3850 for your market analysis.
agent@moving2brevard.com

“Character Thief In Good Person” by kittijaroon provided by freedigitalphotos.net