Utilize this great tool to give you and Amy@AusumRealty.com a head start on finding your first home or your next home. Fill it out and call me at 501.993.6448 or we can fill it out together. I look forward to helping … Continue reading
June 4th, 2012 by Amy Glover Bryant
The question of whether or not you should use a Realtor to sell or buy a home reminds me a lot of the commercials that are currently running on TV showing a doctor running a jackhammer. You wouldn’t want someone untrained doing such a job and the same can be said for buying and selling a home.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a Realtor.
But if you’re still not convinced of the value of a Realtor, here are several more reasons to use one:
• Your Realtor can help you determine your buying power — that is, your financial reserves plus your borrowing capacity. If you give a Realtor some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders — banks and mortgage companies — offer limited choices.
• Your Realtor has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
• Your Realtor can assist you in the selection process by providing objective information about each property. Agents who are Realtors have access to a variety of informational resources. There are two things you’ll want to know. First, will the property provide the environment you want for a home or investment? Second, will the property have resale value when you are ready to sell?
• Your Realtor can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession, and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
• Your Realtor provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your Realtor can assist you in finding qualified, responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your Realtor, title company or attorney can help you resolve issues that might cause problems at a later date.
• When selling your home, your Realtor can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
• Your Realtor markets your property to other real estate agents and the public. Often, your Realtor can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your Realtor acts as the marketing coordinator, disbursing information about your property to other real estate agents through a multiple listing service or other cooperative marketing networks, open houses for agents, etc.
• Your Realtor will know when, where and how to advertise your property. There is a misconception that advertising alone sells real estate. Studies by the National Association of Realtors show that 82 percent of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts.
• Your Realtor can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing — a lot of possible pitfalls. Your Realtor can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
• Your Realtor can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your Realtor is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).
• In Arkansas there are more than 6,000 Realtors ready to help you make one of the biggest decisions of your life. To find one, visit http://www.ArkansasRealtors.com and click on “Housing Resources.”
House to House is distributed by the Arkansas Realtors Association. For more information about the ARA, visit http://www.ArkansasRealtors.com.
More from columnist Amy Glover Bryant
Please take precautions this holiday season. Download this brochure from Amy Glover Bryant and Ausum Realty. Happy Holidays!
December 19th, 2011 by Amy Glover Bryant The staff at the Arkansas Realtors Association has been busy decorating our offices and our homes for the holidays. We’ve been shopping for the “best deals” on indoor and outdoor lights, discussing how the … Continue reading
From experience, REALTORS® know that a “well-polished” house appeals to more buyers and will sell faster and for a higher price. Additionally, buyers feel more comfortable purchasing a well-cared for home because if what they can see is maintained, what they can’t see has probably also been maintained. In readying your house for sale, consider:
- how much should you spend
- exterior and curb appeal
- preparing the interior
How much should you spend
In preparing your home for the market, spend as little money as possible. Buyers will be impressed by a brand new roof, but they aren’t likely to give you enough extra money to pay for it. There is a big difference between making minor and inexpensive “polishes” and “touch-ups” to your house, such as putting new knobs on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen. Your REALTOR®, who is familiar with buyers’ expectations in your neighborhood, can advise you specifically on what improvements need to be made. Don’t hesitate to ask for advice.
Maximizing exterior and curb appeal
Before putting your house on the market, take as much time as necessary (and as little money as possible) to maximize its exterior and interior appeal. Tips to enhance your home’s exterior and curb appeal:
- Keep the lawn edged, cut and watered regularly.
- Trim hedges, weed lawns and flowerbeds, and prune trees regularly.
- Check the foundation, steps, walkways, walls and patios for cracks and crumbling.
- Inspect doors and windows for peeling paint.
- Clean and align gutters.
- Inspect and clean the chimney.
- Repair and replace loose or damaged roof shingles.
- Repair and repaint loose siding and caulking.
- In Northern winters, keep walks neatly cleared of snow and ice.
- During spring and summer months consider adding a few showy annuals, perhaps in pots, near your front entrance.
- Re-seal an asphalt driveway.
- Keep your garage door closed.
- Store RVs or old and beaten up cars elsewhere while the house is on the market.
- Apply a fresh coat of paint to the front door.
Maximizing interior appeal
- Giving every room in the house a thorough cleaning, as well as removing all clutter. This alone will make your house appear bigger and brighter. Some homeowners with crowded rooms have actually rented storage garages and moved half their furniture out, creating a sleeker, more spacious look.
- Hiring a professional cleaning service, once every few weeks while the house is on the market. This may be a good investment for owners who are busy elsewhere.
- Removing the less frequently used, even daily used items from kitchen counters, closets, and attics, making these areas much more inviting. Since you’re anticipating a move anyhow, holding a garage sale at this point is a great idea.
- If necessary, repainting dingy, soiled or strongly colored walls with a neutral shade of paint, such as off-white or beige. The same neutral scheme can be applied to carpets and linoleum.
- Checking for cracks, leaks and signs of dampness in the attic and basement.
- Repairing cracks, holes or damage to plaster, wallboard, wallpaper, paint, and tiles.
- Replacing broken or cracked windowpanes, moldings, and other woodwork. Inspecting and repairing the plumbing, heating , cooling, and alarm systems.
- Repairing dripping faucets and showerheads. Buying showy new towels for the bathroom, to be brought out only when prospective buyers are on the way.
- Sprucing up a kitchen in need of more major remodeling by investing in new cabinet knobs, new curtains, or a coat of neutral paint.
Reprinted with permission from the National Association of REALTORS®
10515 West Markham, Suite A5
Little Rock, Arkansas 72205
Office Phone: 501.823.0577
Cellular Phone: 501.993.6448