5 Questions to Ask Before Choosing a Real Estate Agent

Consider communication style, longevity in the business and more to find the right fit.

Whether you’re planning to buy or sell property this summer, you may want to work with a real estate agent to guide you through the process. While you may have a neighbor or cousin who works in real estate, it’s a good idea to vet potential agents to ensure the best fit for your needs, since it’s hardly a one-size-fits-all proposition. Here’s a look at questions to ask.

1. How long have you been in the business? First, ask about the agent’s experience. "For me, the first thing I want to know is how long have they been in the marketplace," says Rick Harris, regional vice president for the National Association of Realtors and owner of a Coldwell Bankers office in Ashland, Oregon. "Not just how many years, but how many buyers do they work with that have similar needs."
Also consider the difference between a part-time real estate agent who sells a few properties for friends and relatives and someone who treats it as a full-time business venture. As Mirtha Barzaga, a Realtor with Davidson Realty in St. Augustine, Florida, points out, "there [are] a lot of agents out there that do this part time, and they can't provide the level of service that somebody who is doing this day in and day out can provide."

2. What geographic areas and types of properties do you handle? For buyers’ and sellers’ agents, neighborhood expertise is key, because neighborhood markets can have different quirks. For instance, Harris lives on a small ranch, so he knows the ins and outs of rural properties. "I focus very specifically on my county because rural regulations differ by county," he adds. Historic homes are another area that may require special expertise because of the additional challenges and potential restrictions involved.
Consider not only what agents tell you but also the way they brand themselves online. Herman Chan, a real estate broker with Sotheby’s International Realty in San Francisco, says many agents are now active on social media with YouTube channels, Twitter feeds, Facebook pages and more, allowing you to do your own research. "If they're branding themselves as a condo specialist and you want to buy a house, they're probably not the right agent for you," he says. An agent who focuses on condominiums may have more familiarity with specific condo buildings than someone who mainly handles single-family homes.
Ask about other types of expertise, too. If you’re a veteran or active duty military member, you may want to work with someone who has special training to understand how Veterans Affairs financing works and the challenges of frequently relocating. If you’re a first-time buyer, you may want to find someone who works with lots of first-time buyers and has the patience to do some hand-holding.

3. How will you communicate with me? A communication lapse of a few hours can mean the difference between an accepted offer and a missed opportunity. With that in mind, choose an agent who responds quickly in the mode of communication that works for you, whether it’s email, text, phone or fax. "Quite frankly as Realtors, our job is to be able to communicate the way the consumer wants," Harris says. "Finding a Realtor who will work with you in the way that you need to work is great."
Communication is especially important for buyers house-hunting from afar. Chan has clients in London or Asia who communicate with him via Gchat or FaceTime. He’ll also record tours of potential properties and upload the videos to YouTube with a private link.
Also ask who will be your main point of contact, because some busy real estate agents use a team of assistants or sub-agents to handle day-to-day tasks, and you may not have direct access to the agent you choose. "Maybe some people don't care, but I think that's an important question to ask," Chan says.

4. Can you share references? In addition to interviewing potential agents, talk to their buyers or sellers. Barzaga says she has a list of clients she can share with potential clients as needed. "I have had some of my previous clients take them out to lunch and talk to them without me being in front of them so they can get a real picture of that area and the work that I have done for them," she says.
Harris agrees that talking to past clients is a good idea. "By doing that, you take out the self-promotion that everybody in business has to do and get to that relationship to help you understand how well they actually did," he says.
Also ask what portion of business comes from referrals or repeat business. If an agent mainly works on referrals or repeat business, that can be a positive indicator that prior clients were satisfied.

5. What will it cost me to sell this property? Buyers often don’t pay commission directly, but sellers often do and the costs can vary from agent to agent. For buyers who worry that bringing up the commission topic will be uncomfortable, Chan suggests phrasing this question as, "What will it cost me to sell this property?" Also ask for a breakdown of estimated closing costs. "If they feel that it's appropriate in your market, some agents throw in free staging or pay for your moving expenses, but you have to compare apples to apples," he says. "If you get someone who's charging less, are you getting reduced services for reduced commission?"
Barzaga suggests asking where the property will be listed and how many websites the agent participates in. Will the agent list the property on his or her YouTube channel or Facebook page too? And if so, how many followers does he or she have?
These questions can help you get a sense of the agent’s process and personality, but the right decision may depend on your instinctive reaction. "Follow your intuition," Chan says. "If they feel too slick, it's not a good sign. It’s a good sign when you find an agent who can tell it like it is."

By Susan Johnston/ 5/28/14 | Taken from USNews.com/Money and Finance

Questions often arise regarding ownership of property that becomes "fixed" or "attached" to a part of real property. Particularly in today’s times, property owners want to install high-speed cable modem boxes, additional communications wiring, wall store devices, wine cellars, exercise equipment and more, and then take them away when they sell.

Is there any clear cut definition of a "fixture"? An early Nebraska Court stated that "fixtures are in the twilight zone between things real and things personal".

Thus, the simple answer is that there is no clear cut answer. Different court opinions have issued different - and other conflicting - opinions as to what is a fixture.

In layman’s terms, I think we can all agree that a fixture is something which initially was not attached to real property - such as an air conditioning window unit, or a wet bar which was installed in a house after it was built.

Legal issues arise. The seller moves out and takes his personal belongings, including those which he had previously attached to the property and the home purchaser discovers only after settlement that the seller has removed them. If it is a fixture, it stays with the property.

Thus, we get litigation. According to a 1982 DC Court of Appeals case, "in this jurisdiction, when determining whether an article is a fixture, the court may consider three factors:(1) actual annexation, according to the nature and use of the article;(2) its adaptation to the use for which it was annexed, and (3) the intention that it should be a permanent accession to the realty."

That’s clear as mud!

Let’s look at some typical issues. In each case, the item was installed by the property owner seller.

• a lamp fixture attached to a ceiling electrical box above the dining room table?

In this situation, so long as the fixture can be removed without damage to the ceiling - and the seller installs a substitute fixture and makes sure there are no open electrical wires which could cause a fire or injury to a person - I believe that can be removed;

• a piece of framed art attached to a wall. Once again, so long as the artwork can be removed - and any holes in the wall restored - this can be removed;
• a wet bar that is affixed to the wall. Here, I would draw the line and call his a fixture which must stay in the house.

The list can - and does - go on. But there is a lesson to be learned, namely: put everything in writing. If you are buying a home, and there is an item which you want to remain there, spell this out specifically in the sales contract. For example: "the wall racks installed in the garage shall convey". Alternatively, if you are a seller, and there are items which you want to remove, make that clear in the sales contract; i.e. "The wall racks installed in the garage do not convey." As for the lamp fixture referenced above, the buyer may have thought it was a fixture and thus should have stayed in the house. This is exactly the kind of issue that is best resolved in the real estate contract.

The analysis of fixtures applies equally to landlord-tenant issues. From my experience, when there is litigation, typically the buyer or the tenant will win. That’s because the seller or the landlord could have made their intentions clear in the written contract or lease.

One additional note of interest. Custom and practice in a local community is often forgotten or ignored. For example, it is my understanding that when you sell a house in California, it is customary that the refrigerator does not convey. Thus, I have encountered people coming from the West Coast to purchase real estate here finding they have two refrigerators, while people going out to California find that they have no refrigerator in the new house they have purchased. Talk with your local real estate agent and your attorney to make sure you fully understand these local customs. But, in the final analysis, a written document is the best protection.

Written by Benny L. Kass on Wednesday, 28 May 2014 12:59 pm (RealtyTimes)

The ABC of Homeownership: How to Be a Responsible Homeowner

Buying a home is a huge financial decision that a person takes in their lifetime and it has to be dealt with carefully. When you buy a home, you would definitely want to get in a decent locality and also invest in it further. Owning and taking care of a home entails several responsibilities. I learnt my lesson the hard way when I got into trouble with my neighbors and local association. Out of my experiences, I am sharing things you need to consider while buying a home.

Legalities of construction

If you are planning to build a home right from the scratch, find out about permits and other legalities involved. You will need to obtain a construction permit before you start constructing the house. The permit approval takes several weeks or even months before they come through. If you skip the guidelines set by local authorities, they may end up demolishing your house. Every community has specific rules and regulations for construction of homes. Make sure you comply with all of them.

Local Associations

Homeowners associations work on a complicated framework and are often difficult to deal with. Furthermore, the members of this association will lay down several conditions that you would have to adhere to. The best way to avoid problems with these associations is to attend the meetings regularly. Participate in the association as much as you can. Being an active participant in your local community can actually be helpful for you at some point in time.

Mortgage knowledge

Know what the prevailing mortgage rates are. Understand the terms of mortgage thoroughly and what the interest rate includes. Also, understand the nature of interest rate and calculate the overall mortgage cost. Oftentimes, mortgage rates are misunderstood and people get a nasty surprise when they have to pay their first EMI. Avoid this situation by educating yourself and understand the nitty-gritties of mortgage. You should ideally get yourself pre-approved for mortgage before you buy a home.

Pay on time

Clear all dues on a timely basis. If you slack on payments then you will be liable for legal action. It may also result in a lawsuit sometimes. Moreover, you may receive several harassing collection calls and also dent your credit rating. In order to pay your dues on time, make a clear budget prioritizing your mortgage payments.

Friendly neighborhood

As much as possible maintain a cordial and friendly relationship with your neighbors. If you have a troublesome neighbor, just maintain decorum of understanding without breaching your relationship. You never know when you might need the help of these neighbors, whether they are good or bad.  Also, respect your neighbor’s privacy even while constructing your house. If something is bothering them about the construction, pay immediate attention and try to resolve it in an amicable manner.

Conclusion

Home ownership is easier said than done. Any negligence on the part of the owner can get them into deep problems. They should make sure that they are doing the right thing every step of the way. Also, one needs to ensure that their paperwork is always correct and updated. Homeowners’ insurance policy should be in place to avoid legal hassles and unforeseen circumstances.

This entry was posted in Buying a Home and tagged Be a Responsible Homeowner, Responsible Homeowner. Bookmark thepermalink.

Top 10 Tips to Prepare Your Home for Spring after Severe Winter

As much of the United States recovers from one of the harshest winters in recent history, it is important to inspect your home for damage and plan for home maintenance, repair and remodeling projects. Winter weather can be particularly damaging to a home and the tips from NAHB Remodelers can return your home to top condition after the severe winter.

“Winter weather can damage homes in ways that aren’t easily visible,” says NAHB Remodelers Chair Paul Sullivan, CAPS, CGR, CGP, of Waterville Valley, N.H. “Home owners should protect their investment and hire a professional remodeler to repair or replace damaged components now, before spring storms create more problems.”

NAHB Remodelers recommends these top 10 tips for home owners to inspect for damage and make sure your home is ready for spring from top to bottom:

• Inspect roof—Check your roof for loose, warped or missing shingles and make sure the chimney flashing and skylight seals are intact.

• Clean and repair gutters—Clear winter storm debris from gutters and downspouts, and check that they are still securely attached to the house. Blocked or loose gutters can allow water into your home and damage trim.

• Look for leaks—Common culprits for hard-to-find leaks are attics, crawl spaces and washing machine hoses. Inspect these areas, look under sinks for damage from frozen pipes and check your water heater for signs of corrosion.

• Clear exterior drains—Remove leaves from underground or exterior drains to clear the way for spring showers and prevent backups.

• Inspect siding—Inspect siding for pieces that have come loose during winter storms.

• Check window and door seals—Examine the exterior caulking on door and window seals to ensure it remains watertight.

• Patch cracks—Patch cracks in concrete driveways, sidewalks and steps to keep water out and prevent further expansion.

• Paint the exterior—Painting or touching up paint on the exterior of your home not only makes it look better, but will also help protect the home from the elements.

• Inspect the HVAC—Hire a qualified technician to service your home’s HVAC system to make sure it is running properly before hot temperatures call for air conditioning. Now is also the time to replace your HVAC filters.

• Check your home’s grading—Ensure the grading of your yard slopes away from your home’s foundation to keep excess moisture at bay.

Don’t wait to inspect your home and get damage fixed. Many professional remodelers not only renovate homes; they repair or replace damaged or deteriorating roofs, windows, doors and other home features. Remodeling and repair projects can require your home to be open to the elements and companies may have a backlog of work due to the length and severity of the winter season. Choose your repair and renovation projects for the year ahead and start planning now.

RISmedia.com