Real Estate Tips

There are about 7 basic steps to purchasing a home and good for seller to understand too.  

This article speaks to both the buyer and the seller which are equally important in the process of purchasing a home.  In order for the process to work smoothly both the buyer and the seller should have great Broker representation.  

The 7 Steps are:

1. Internet.  Today the first step in Most Real Estate purchases begins on the Internet.  It’s Standard practice for most buyers.  That makes the Internet presentation very important. Lots of great photos. Professional photography is a Must!

• Sellers…Insist that your agent hire a great photographer that specializes in Real Estate Photography.
• You will need the pictures to be in at least 2 different sizes one for the web and another for print.Your home needs to be seen in as many places on the internet as possible:

1. The first step is to get your Home on the MLS. The MLS will automatically populate most websites of the competing real estate companies.

2. then populate other important search spaces such as Trulia and Zillow.

3. Next add Real estate Blogs.

4. Finally add Social media sites such as Facebook

5. It’s not possible for your home to be seen too much on the internet!
   

2. Drive By. Buyers don’t need a real estate broker or professional of any kind to drive by a home that they think they are interested in…just to be sure it is indeed a Home they are interested in.  Sellers don’t be alarmed if once your home is listed you see a lot of cars simply driving by slowly.  It happens all the time…it’s a great sign…savvy buyers know that they need a professional for the next step…to get them in the house.

   
   

3. Get Inside. A real estate broker is necessary for this step!  In fact, it’s not safe to let just anyone into your home without a broker.  Sellers, If someone, that you don’t know, knocks on your door and wants to see your home, don’t let them in.  Thank them for stopping by, give them your listing broker’s card and ask them to come back with a professional to see your home.   (This way your Broker knows exactly who comes into your home)  It’s not only a safety issue…your Broker will then also know who to follow up with.  A good broker will caution their buyers not to knock on your door and to wait for them to make an appointment.

   
   

4. Make an Offer. A good broker assists the buyer in making an offer. They will discuss such things as: terms, down payment, inspection and closing.  They will also make sure the buyer is qualified:

• An approval letter from a Mortgage Broker or Banker is necessary before a buyer even begin to look at houses.

• Proof of funds for the down payment and closing costs is also necessary to get from the buyer.

• Does the buyer have a house to sell before they can actually close?

   

   

5. Negotiate acceptable Terms. The Seller has 3 options once they receive an offer from the Buyer:

• Accept the offer as written
• Counter the offer on terms and conditions acceptable to the Seller. (this is where negotiation skills are important for Brokers of both parties)

1. A counter offer from the seller to the buyer allows the buyer a specified amount of time to accept the seller’s offer, after which the offer expires with no contractual obligation on the part of either the buyer or the seller.

2. Upon receipt of a counter offer from the seller the buyer has the same options available to the seller when reviewing the original offer.

3. The number of counter offers made between the buyer and seller are limited only by the interest of both parties to continue the negotiation process.

•  Don’t respond to the offer. Although a viable option, it’s not often used.  Typically a lack of response indicates that the seller feels that the buyer’s offer is too ridiculous to even respond to.
6. Close the Sale. Once there is a mutually agreed upon offer or “Mutual Acceptance” A good Broker for the buyer or the seller will keep in touch regularly by phone or email to remind you of upcoming deadlines including:
• Earnest Money
• Inspection
• Financing

• Signing

   

   

7. Move into your New Home. As soon as the closing numbers come in, keys are exchanged and then the buyer is free to mo