What To Seek From Your Real Estate Agent?

Since, for most of us, our house represents the single – biggest, financial asset, doesn’t it make sense, when you decide, to sell your home, to get the best results, and when you purchase, you get the quality house, you seek and deserve? In most parts of the country, there are many options, in terms of hiring a real estate agent, to best represent you, and your needs, in the best possible way, so, it is wise, to choose smartly, and hire the best individual, for your specific needs, personality, situation, etc. Let’s review a few of the qualities to focus on.

1. Empathy: When you interview potential agents, observe closely, and see, if their presentation, is focused, clearly on you, or more general? Does the individual ask probing, insightful questions, and, then effectively listens, and learns, what you seek, and your goals, priorities, and needs? You might wonder why I list empathy before certain skills, but, it’s because, many have the skills, but fewer possess genuine empathy!

2. Marketing/ action plan: How will your house be marketed, and why? What media, vehicles, etc, might make the best differences, for the better? How will you, and the agent, work, as a team? How often will you share ideas, and how will the process go? How will potential price adjustments be determined and considered? What factors does the agent anticipate, and how will he position, you? Are you a candidate, for a house – stager, how expensive is it, and what are the benefits, etc?

3. Niche: Is this house a candidate for niche – marketing, and why? If so, what is that niche? How will the house be marketed and promoted, to best take advantage of that?

4. Strengths/ weaknesses: Avoid being overly emotional, and review, both, the strengths and weaknesses of the home and property, etc, especially compared to the competition. Emphasize the strengths, and minimize weaknesses!

5. Competitive Market Analysis: Pricing the house, right, from the start, is often the difference, between the finest, and lesser results! Many people falsely, equate, listing price, with selling price, and list the house, at too high a price! Doing so, often, hurts the final number, because, in most cases, the best results come in the first few weeks, and only intelligent pricing, does so! There are often times, when pricing lower, creates a competitive situation, and I have often, had clients, get better results, from starting lower, and attracting more buyers.

6. Integrity: It’s difficult to evaluate, but demand, an agent, with the utmost degree of genuine integrity!

Carefully examine and consider, who you choose, to hire, as your real estate agent. The better you choose, the easier the period.

4 Factors Which Impact Real Estate’s Future

Since no one has a crystal ball, there will always be, a significant degree of uncertainty, when it comes to trying to predict, and forecast, the future, and trends, when it comes to the housing market, etc! Although, past trends, are significant, and important, to understand, we must, also recognize, we live in an evolving world, and, everything, from how, houses are marketed (especially, the digital/ Internet considerations), to the extended, nearly, historically low, mortgage interest rates, differ, from what has been witnessed, and experienced, in the past. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 4 factors, which might probably, impact real estate’s future.

1. Supply and demand: One item, which has always been relevant, and still is, is the idea and concept, of Supply and Demand. When there is more supply (available houses on market, than qualified buyers), than demand (buyers, proactively, seeking a home, to purchase), home prices are stressed, and, often, fall! On the other hand, when the converse, exists, prices, generally, move upward. Housing prices, and pricing, are, generally, fluid, and, either, Buyers Markets, or Sellers Markets, often, come and go, quickly, and regularly!

2. Available funds: There are times, when lending institutions, follow, more strict guidelines, and, others, when money is looser! This creates, times, when they require higher, or lower, credit requirements, in order to loan, and finance, a house. In addition, depending on overall conditions, there may be, either, more, or fewer, qualified buyers. When money is more – readily available, lenders may require lower downpayments, which, means individuals, often, apply for a greater amount of the loan principal.

3. Job security/ optimism: The more, secure, potential buyers, are, and feel, and whether, they believe, there will be a prolonged, positive job/ employment market, often, determines, how many people, consider themselves, potential buyers. When there are fewer buyers, this creates, lower house prices, etc.

4. Local, regional, and national economic conditions: Economic conditions, often, dictate, and determine, the behavior and performance of the housing market! Although, world – wide, and national, economic conditions, are significant, regional and local factors, strengths, weaknesses, trends, etc, are often, even more relevant! When consumer confidence is high, and potential buyers, believe, positive things, will continue, the real estate market benefits!

Both, professional real estate agents, as well as homeowners, and potential buyers, benefit, when they better understand, as many relevant factors, as possible. Smart buyers and sellers, hire, someone, who will help direct them, to understand, the best courses of action, and opportunities.

4 Factors Which Impact Real Estate Prices

Many factors affect the price, a specific house, might garner, if offered, for sale, on the real estate market. While there are both, emotional, as well as logical considerations, involved, four specific factors, generally, are the key components, which make the biggest differences, in what price, a specific home, might get, and offers, which will be presented. While there are always, competitive factors, especially how a specific property, compares, to others, for sale, in the local area, after more than a decade, as a Real Estate Licensed Salesperson, in the State of New York. I have come to believe, 4 specific factors, are most significant and relevant. With that in mind, this article will attempt to briefly consider, review, and discuss, these considerations, and why it’s important to proceed, with objectivity, and a realistic approach.

1. Overall economy, and consumer confidence: Obviously, the stronger the overall economy, and the more consumer confidence, as well belief, in a strong, sustainable employment/ job market, the more, people, might be ready, willing, and able, to pay, for a new home, of their own! Perceptions are often, far more essential, and relevant, than any other single factor/ factors!

2. Interest Rates and Real estate taxes: Overall interest rates, are the key, to mortgage rates, and obviously, the lower these rates, the lower, the monthly costs, for the homeowner. Even a somewhat minor, change in the rate, often, makes a significant difference, in the monthly expenses. In this mindset, one must consider, real estate taxes, also, because, they factor into, the overall costs, of home ownership, maintenance, etc.

3. Supply and demand: Real estate markets might be considered, Buyers Markets, Sellers Markets, and/ or neutral ones! When there are more buyers than houses on the market/ sellers, it’s a Sellers Market. When there are more sellers than those qualified buyers, looking, it becomes a Buyers Market, and when it’s somewhere, more balanced/ in – between, it’s a neutral one. Obviously, in most cases, the highest prices, occur in Sellers Markets, based on the economic concept of Supply and Demand!

4. Local market: Much of real estate, is local, in nature! Is your local area, in – demand? What are the strengths, and weaknesses? How does your area, neighborhood, location, etc, compare to other areas. Factors to consider include: safety; schools; convenience to transportation, shopping, entertainment; real estate taxes; etc.

The better one understands the actual value, as opposed to what, he wishes for, the more prepared, he will be, for the home buying, process. Will you commit to the tasks, discipline, etc?

What Type Of Real Estate AGENT, Do You Need?

Since, for most of us, the value of our house, represents our single – biggest, financial asset, doesn’t it make sense, to proceed wisely, and in your best interest, when you decide, it’s the right time, to sell it? Statistics, consistently indicate, in the vast number of instances, homeowners benefit, when they take advantage, of hiring the finest quality, well – trained, empathetic, caring, AGENT! Whether, the main concern, is obtaining the highest possible price, in the shortest period of time, or addressing specific needs, goals, and/ or, priorities, owners benefit, when they take advantage of quality, real estate representation. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means, and represents, and why it matters.

1. Attention; actions; attitude; apt; aptitude; analysis: A well – qualified, real estate agent, pays keen attention, to every detail, in order to ensure, his client’s experience, is better, etc! He proceeds, with a can – do, positive attitude, combined with a well – developed, aptitude, and skill – set! How can anyone know, whether his perceptions are apt, and accurate, unless, a professional, offers a realistic analysis?

2. Greater: Greater results arise from finer focus, and emphasizing a particular property’s strengths, while addressing areas of weakness, so potential, qualified buyers, are more motivated, to purchase the specific property!

3. Efforts; effects; effective; excellence; endurance: Successfully, marketing and selling a home, requires placing one’s efforts, where it will create the best effects! An effective agent, strives to offer service, based on genuine excellence, and recognizes, the real estate transaction period, always has certain challenges, and, requires the endurance, and ability, to proceed, in a positive, focused manner!

4. Needs; niche: During a homeowner’s interview process, to determine, which agent, to hire, the agent must learn, discover, and understand a client’s needs, while recognizing the niche, in terms of potential buyers, and comparative properties!

5. Time – tested; timely: An experienced agent, based on his knowledge, experience, and expertise, develops the judgment, and, hopefully, wisdom, to proceed, with time – tested ideas, and approaches. To get the most desirable results, it’s important, for agents, to always, proceed, in a well – considered, timely manner, so potential buyers, and their agents, feel welcome, and more apt, to choose, your specific home!

With all the agents, in most areas, doesn’t it make sense, to hire someone, who will make a meaningful difference, for the better, in terms of the possible results? Will you take the time, to identify, the right person, for your needs?

New Book Teaches Real Estate Investors to Get Rich Through Mentoring Others

Barry Wilmeth’s Making Others Rich First provides a fresh take on real estate investing for both new and seasoned investors. Wilmeth, who has been investing in real estate across the United States for many years, knows that real estate investing is not solely about making yourself rich. It’s also about helping others to become wealthy by providing them with quality housing or helping them to buy their first homes, and for those who want even more, it is about helping new investors pursue their own financial dreams for success. I love Wilmeth’s attitude in this book. While some people might view real estate investing as competitive, Wilmeth believes there is plenty for everyone, and we all get more when we help each other. As he states early in the book, “We have an existential sense that our happiness depends on the happiness of others and that there is more happiness in giving than in receiving.”

Making Others Rich First is designed to help the real estate investor starting out with the basics of how to invest, but it is also designed to encourage more seasoned investors to mentor others in the real estate investment business. Each chapter has nuggets of information for both the mentor and the mentee, and while the overall structure benefits the mentee, I think mentors will find much here to give them new ideas about investing.

The book is divided into five sections, each of which has three or four chapters. Those sections are: Getting on the Road to Riches; Setting the Business Framework; Preparation, Education, and Application; Staying Motivated; and Getting a Return on Your Investment. Throughout the sections, Wilmeth shares personal stories of investments he has made, shows how to crunch the numbers to determine potential payoffs and whether an investment is worthwhile, and continually provides motivation for readers to take action.

Taking action is especially key. Wilmeth knew that no matter how many books he read or seminars he took, he would never truly learn about real estate investing until he took action by buying a property. That first action paid off in the knowledge he acquired from owning it, and today, he owns rental properties across the United States, and he also buys and sells properties on a regular basis.

Wilmeth understands that real estate investing can initially be scary, but he states:

“The fear will subside the more you do similar deals. I tell new investors over and over, ‘Don’t wait to buy real estate. Buy real estate and wait.’ Get your feet on the ground by making a real estate purchase and renting it out by using a reputable property manager. This is not a field trip. It is an internship. It is on the job training (OJT). Learning from a book or a seminar will make you think. Learning by doing will make you experienced.”

In addition, Wilmeth talks about how to find money for investing-from private investors and other sources. Once investment money is available, Wilmeth guides readers through how to do their due diligence when buying a property so they can avoid bad deals, and he also talks about how to recover if you do make a bad deal. A bad deal is not a reason to give up, but an opportunity to learn from your mistakes.

Wilmeth also takes readers through all the details of business and tax planning. He introduces them to what he calls the MBA Formula, which consists of: Monitoring Your Debits and Credits, Balancing the Books, and Analyzing the Numbers.

He also talks about the importance of following up with others. You need to respond quickly, be on the phone rather than waiting for an email response, and consistently putting yourself in front of others so they will help you find deals and you can make sales. Even if you don’t know the answers to someone’s question, just responding can lead to forming a relationship that can benefit you in the long run. All of these points are explained in detail in these pages, along with advice on networking, volunteering, marketing, and much more.

But beyond all the real estate investment details is the book’s core message-the importance of mentoring, which Wilmeth summarizes in two main points: 1) “If you are new to investing, you really should have a mentor. And if you decide not to, there will come a day when you’re going to hear me whispering, ‘I told you so,'” and 2) “If you are already a sophisticated investor, you can get more deals and expand your business by being a good mentor to others.”

Ultimately, mentoring can only be advantageous to a real estate investor. As Wilmeth states:

“Your firsthand testimony is much more powerful than a seminar, book, or attendance at an investors’ club meeting. You will come across to others as believable and as an ‘If I can do it, so can you’ role model. I believe the best way to be the real deal is to take steps to increase your wealth, share your story, and then help others get rich without charging a fee.”

Yes, you read that right-“without charging a fee.” Wilmeth describes the difference between coaches who do charge fees and true mentors, and his take on mentoring is refreshing as a result.

A lot of successful businesspeople will try to tell you how to get rich by sharing with you what they have done, but it’s rare to find someone who does it for the purpose of giving back rather than to benefit himself. Not that Wilmeth denies the personal benefits of helping others, but his sincere desire to help others get rich first is what makes this book stand out from all the other real estate books already available. Whether you’re new to real estate investing or you want to learn more through giving back, this book will open new opportunities for you.