Posts

Showing posts from July, 2024

Agent Representation - A Buyer's Perspective

Image
Real estate professionals offer expertise in the local market, guiding buyers toward suitable properties and negotiating favorable terms. They provide comprehensive support throughout the home buying process, managing logistics and serving as trusted advisors. Additionally, agents have access to a network of allied professionals, streamlining the transaction and ensuring smooth coordination. They also advocate for buyers' interests, negotiating on their behalf and addressing challenges that may arise, providing peace of mind and confidence in decision-making. The following is a list of services typically provided to a home buyer by a real estate agent but can vary depending on negotiations between the principals. Property Search: Assist the buyer in identifying properties that meet their criteria, including location, size, amenities, and budget. Market Analysis: Provide information and analysis on market trends, property values, and comparable sales to help the buyer

The dilemma is clear: wait for conditions to improve, or act now?

Image
Are you one of the many would-be homebuyers holding off on purchasing a home, hoping for a favorable shift in the market? With insurance, property taxes, and maintenance costs on the rise, it's understandable why some are hesitant to take the plunge. However, the reality is that these factors affecting affordability are compounded by the continuing increase in home values. The dilemma is clear: should you wait for conditions to improve, or should you act now? The Affordability Challenge - Escalating insurance premiums, property taxes, and maintenance expenses are making homeownership less attainable for many prospective buyers. As these costs continue to climb, the dream of owning a home may seem increasingly out of reach. The strain on affordability is further exacerbated by the relentless rise in home values, especially in competitive markets where demand outpaces supply.   The Waiting Game - In the face of these challenges, some buyers are adopting a wait-and-see a

The case for working with a friend and agent

Image
The familiarity and trust established in a friendship may be the ideal foundation for a successful business relationship. Having a loyal ally from their social circle adds a new level of insight and service to such an important financial decision in their lives. When considering the choice of engaging a friend who also happens to be a real estate agent in the purchase or sale of their home, consumers are presented with a multitude of compelling reasons to embrace this option. Firstly, the pre-existing level of trust between friends lays a solid foundation for effective communication and transparency throughout the transaction. This trust, combined with the highly personalized service that a friend-agent can provide, ensures that the process is tailored to the individual's specific needs and preferences. Additionally, friends understand each other's lifestyles, priorities, and goals, allowing for a deeper level of advocacy and support throughout the real estate journ

Helping buyers make sense of upcoming changes

Image
Upcoming changes in real estate transactions are imminent following the resolution of significant class action lawsuits involving sellers and the National Association of REALTORS� along with numerous leading real estate firms nationwide. These changes will have implications for sellers, buyers, and agents alike. There has been a lot of news coverage in the past few weeks but unfortunately, much of it has added to the confusion on how things will change rather than clarify it. It was reported that since the seller will most likely be paying only their commission, the price of homes will come down.   That is very unlikely to happen.   The value of a home is not determined by whether a commission is paid nor the amount of it. In the terms of the settlement, which is still to be approved by a court, the change will go into effect on August 17, 2024 but some companies will implement the changes earlier.   The following excerpts are taken from the NAR Settlement Fact Sheet .