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Why You Want a Buyers Agent
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Saving and Investing Your Money - Best Real Estate Option
None of us have a crystal ball that can predict what the future will bring. We all know that it is wise to put away some money in case of emergencies and to invest for our children's' college education and our retirement. However, despite this wisdom, all too often money is tight and it's hard to come up with it to invest in anything at all.
Many families are struggling just to make end... Read real estate article
Real Estate Auctions
There are lots of people who want to buy a house but find it difficult to have one because it's high price. The only thing they can do is to loan in government agency. This is because the amount that can be borrowed in government is much higher than in banks.
But due to some reasons the borrower is unable to pay it back. Since the government needs the money back, their only choice is to... Read real estate article
Why You Want a Buyers Agent
Some buyers balk at working with a buyer's agent because they are concerned it will cost them money. This is understandable since it is customary to sign an agreement with the buyer's agent defining their compensation as a percentage of the sale price.
Rather than see this as a cost, see it as a protection for both parties - the buyer's agent has agreed to work for you and to represent your interests to the best of their ability. You in turn agree to be sure he or she is fairly compensated for their work. In almost all cases, their commission will be paid by the seller.
There is a common misconception that one can "avoid the middleman" by going directly to the listing agent. Some buyers will do this to avoid adding another agent to the transaction because they want to deal directly with the listing agent. In that case make sure you know how you are being represented. Unless you agree up front that the agent will be working on behalf of you and the seller as a dual agent the agent will only be working for the seller.
Another reason a buyer goes straight to the listing agent is to theoretically reduce the amount of commission and the ultimate sales price. However, the listing agreement defines the commissions to be paid to both the listing agent and the agent bringing the buyer to the table. Even if the buyer doesn't have an agent, the commission will be paid -- to the listing agent. What a buyer fails to realize is there still needs to be someone there to do the duties of a buyer's agent -- duties such as showing the house, writing the contract, handling pre-closing issues and paperwork, attending the home inspection, final walkthrough etc. This is agreed upon at the time of listing, so the buyer not having an agent does not reduce the commissions paid. Any price reduction has to come off of the actual price as negotiated between buyer and seller.
Also, the buyer should be aware that while the listing agent may provide assistance in preparing the paperwork for the offer, unless a dual agency agreement is signed, the listing agent's accountability is only to the seller. In a transaction of this magnitude, you want someone working for you, with your best interests as their priority.
Having a buyer's agent is even more important in a For Sale By Owner situation. An attorney can draw up the paperwork, but is not knowledgeable about the value of the property and valuation questions or advice , resale issues, issues that can arise from a home inspection, final walkthrough issues, and how to structure an agreement favorable to buyers. A buyer's agent has the outside perspective needed to help you determine an offer strategy and to protect your interests, potentially saving you time and money. Plus, the sellers often will still pay the buyer's agent commission - it's all part of the negotiation process.
Here's the bottom line: a buyer's agent represents you in a real estate transaction. Their experience and skill at negotiating and in understanding the state laws and local customs can save you time and money. As your representative, your buyer's agent can navigate the entire process from home searching to preparing the offer to the inspection to renegotiations to the final walk-through. If you are seriously looking for a home, working exclusively with a buyer's agent increases the likelihood that you will find the home you are looking for. Their knowledge of the entire process is invaluable in ensuring the sale goes as smoothly as possible.
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How to Sell House Privately and Save in Estate Agent Fees
To sell your house in the UK is now becoming seriously expensive. With the average house price of around £200,000 and estate agent commission rates averaging 2% the typical seller is now faced with a bill of £4000 + 17.5% VAT to sell his house. Many frustrated sellers are becoming increasing keen to avoid these bills by selling their house privately. They are using private house sale web sites and paying less than £200.
For some house sellers the question is not one of money. They simply consider their estate agent to be useless because they fail to arrange even a single viewing after having the house on their books for weeks or even months. They seem to do little to actually sell the property and earn their money.
In the past house sellers had no choice but to use an estate agent. They were the only ones with shop windows to display properties and access to cheap advertising rates in the local press. But with the Internet there is a new opportunity for sellers to escape from what many see as the expensive and poor service of a 'middleman'.
So how do you go about selling your house online and successfully finding a buyer?
Prepare your house outside and inside. Your house must make a good first impression - kerb appeal. So repair damaged fences, mow the lawn and tidy the garden. Pay particular attention to the front entrance. Inside remove clutter and clean really thoroughly. No-one wants to move into a dirty house.
Consider any home improvements that would be worthwhile. Most are not worth doing because they do not get back even the money that was put into them. But decorating is often worthwhile. It can add up to 10% to the value of a run down home.
Set your price by comparing your house with similar properties up for sale. When selling your house setting the right asking price is critical. The single biggest reason homes fail to sell is setting a price above what similar homes are selling for in the same neighborhood.
Choose one of the large and established property web sites set up to help homeowners sell their houses privately. They will advertise your property and you must do the selling. But do not simply rely on the Internet to sell your house. A common mistake made by people selling their house privately is sitting back and waiting for the ad on the property internet site to sell their house. To sell your house fast you should use all means available including adverts in newspapers, 'house for sale' boards, open houses and flyers delivered locally.
Finally you have to arrange to show the house to prospective buyers. You need to manage inquiries, arrange accompanied viewings and negotiate a sale once you receive offers. So work out how you can fit these tasks into your diary especially if you work full time.
Follow these simple steps and you have the answer to the question, "How do I sell my house privately?"
How would you like to save £4700 in estate agent fees by selling your house privately on the internet for less than £200? Real estate enthusiast William Bell explains what you need to do to sell your house online successfully.
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Why You Want a Buyers Agent
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