Real Estate Blogs | Properties for Sale | Preferred Properties of Texas

A REALTOR(r), Can Help You Find Your Dream Home

February 22, 2023 by chorton Leave a Comment

Your REALTOR(r), and you can be a great team. But your REALTOR(r) can’t read your mind. Help your REALTOR(r) find the best options for you by sharing what you want and offer feedback.

Talk to your trusted realty professional about what you consider essential, desirable, and unacceptable features. Your REALTOR(r), can help you find homes that have the features that are important to you. Your REALTOR(r), together, can discuss how to achieve your goals. Your REALTOR(r), if privacy is important, could search larger lots, properties close to undeveloped land, homes with tall fences, or fewer neighbors. Your REALTOR(r), if you are looking for homes that can be remodeled or expanded, may be able to help you.

Your REALTOR(r), an expert on the local realty market, can help you find options within your price range. Your REALTOR(r), may be able to provide information about assistance programs that might help you.

This is why you hired a REALTOR(r). Ask your REALTOR(r), about any aspect of the home search or purchase you aren’t sure of. Remember that your REALTOR(r), who is bound by a Code of Ethics, may not be able answer certain questions. This includes questions that require opinions, legal issues, or that are outside of the realm of expertise of your REALTOR. Your REALTOR(r), in these cases, can often recommend impartial sources that you may be able to explore.

You have a professional working for you, a REALTOR(r) who will help you to succeed in your transaction. Your vision and the expertise of your REALTOR(r), will help you find the home that you love for many years.

Original Blog: https://www.texasrealestate.com/members/posts/let-a-realtor-help-find-your-dream-home/

How Do Buyer & Seller’s Agents Compare?

February 16, 2023 by chorton Leave a Comment

We don’t always focus on the difference between a seller’s and buyer’s agent. But understanding these differences is crucial when choosing who to work with. It can be confusing to understand the terminology.

Because they assist buyers in finding properties, a buyer’s agent can also be called a seller agent. A listing agent refers to a seller’s agent.

We’ll refer to them as a buyer’s and seller’s agents for the purposes of comparing them. A buyer’s representative represents buyers and a seller’s agent represents sellers.

You should weigh whether you need an agent when selling your home. While you can do the job as the owner, you may not be as successful if you are not a skilled marketer or negotiator. An agent can make it even more valuable to you as a buyer. Agents for sellers may not accept buyers’ offers.

The following differences exist between the two, beyond the terminology.

If you are selling your home, and you have hired an agent to represent you, then you will usually get an exclusive representation listing. This is an agreement between the agent and you, the seller. Once you have signed this agreement, the only person entitled to a commission for your home’s sale is the listing agent. The brokerage that the seller’s agent works at receives a commission, and the agent gets a portion.

If a buyer’s agent works with the seller’s broker and their client is able to purchase a home, they are compensated.

A buyer’s agent and a seller’s agent have two primary differences. When a buyer decides to buy a home, their agent wants to ensure that they get the best price and deal possible. The agent representing the seller wants to ensure that their client receives the best price for their home.

Sometimes, the seller’s agent may also represent the buyer in certain cases. However, this is not legal in all states.

Agents can work with buyers and sellers, but there is no reason why they shouldn’t. Many agents do this. Some agents prefer to deal with one side of a transaction, so they might specialize.

The responsibilities of a seller’s agent can include:

* A seller’s representative will visit a property to do an initial walkthrough. They might offer tips to help the seller make their home more attractive to potential buyers.
* Seller’s agents are responsible for marketing. This can include professional photography.
* The seller’s agent works with the homeowner to determine the right price for their property. The goal is to achieve a fair balance between selling the property quickly and getting the highest price.
* Additional services offered by seller’s agents include hosting open houses and tours, helping with closing, and negotiating with buyers’ agents regarding inspections and other issues.

The responsibilities of a buyer’s agent include:

* Assisting buyers in the preapproval process for a mortgage loan.
* Identifying properties that meet their client’s criteria.
* We can arrange appointments for buyers to view potential properties.
* Helping buyers to understand the value of a house as they make an offer.
* Coordinating communication between the title officer, seller, buyer and mortgage lender.
* Assistance with closing.

Although their roles may be different, buyers’ agents and sellers’ agents have the same goals. They are determined to represent their clients as best they can and to negotiate successful closings.

Original Blog: https://realtytimes.com/archives/item/1039840-buyer-vs-seller-s-agent-how-do-they-compare?rtmpage=

What You Should Know About Texas Property Inspections

February 13, 2023 by chorton Leave a Comment

Buyers may feel tempted to skip an inspection in a seller’s market or to hire an inspector to walk through their dream home and point out any problems.

Sellers might believe that a similar inspection will help them stand out in a buyer’s marketplace. They should disclose all information upfront so buyers know what to expect.

Consumers should be cautious when hiring inspectors that offer walkthroughs or abbreviated inspections. Inspectors must follow TREC’s Real Estate Inspector Standards of Practice and provide their findings to the client via the mandatory inspection form. These requirements are intended to give information to the consumer about the general condition of a home and to highlight any safety issues. These requirements are not followed in walkthrough inspections. In Texas, the Texas Real Estate Commission can discipline inspectors for performing walkthrough inspections.

These walkthroughs may not be acceptable inspection reports to settle disputes with home warranty companies, provide to certain lenders, and don’t show the whole picture of the property’s potential problems the same way as a standard inspection.

TREC rules require home inspectors who are licensed to conduct inspections in Texas to adhere to the Real Estate Inspector Standards of Practice. These SOPs outline the minimum requirements to perform a real estate inspection for a potential buyer or seller of a one-to four-family dwelling or most residential properties. Texas requires that all inspector license holders must provide Texas clients with a completed Property Inspector Report Form (REI7-6) initial. This report is independent of any other reports the inspector may provide.

These standards are in effect when a licensed professional inspector or real-estate inspector accepts work to inspect a property for a potential buyer or seller.

To narrow down your search for inspectors, use TREC’s License Holder Search. It is also possible to check if an inspector has a history of disciplinary violations and view recent educational courses.

Original Blog: https://www.trec.texas.gov/article/what-consumers-should-know-about-texas-property-inspections

How Do Buyer Vs Seller’s Agent Compare?

February 10, 2023 by chorton Leave a Comment

We don’t always focus on the difference between a seller’s and buyer’s agent. But understanding these differences is crucial when choosing someone to work for you. It can be confusing to understand the terminology.

Because they assist buyers in finding properties, a buyer’s agent can also be called a seller agent. A listing agent refers to a seller’s agent.

We’ll refer to them as a buyer’s and seller’s agents for the purposes of comparing them. A buyer’s representative represents buyers and a seller’s agent represents sellers.

You should weigh whether you need an agent when selling your home. While you can do the job as an owner, you may not be as successful if you are not a skilled marketer or negotiator. An agent can make it even more valuable to you as a buyer. Agents for sellers may not accept buyers’ offers.

If a buyer’s agent works with the seller’s broker and their client is able to purchase a home, they are compensated.

Sometimes, the seller’s agent may also represent the buyer in certain cases. However, this is not legal in all states.

Agents can work with buyers and sellers, but there is no reason why they shouldn’t. Many agents do this. Some agents prefer to deal with one side of a transaction, so they might specialize.

A seller’s agent will visit a property to do an initial walkthrough. They might offer tips to help the seller make their home more attractive to potential buyers.
Seller’s agents are responsible for marketing. This can include professional photography.
The seller’s agent works with the homeowner to determine the right price for their property. The goal is to achieve a fair balance between selling the property quickly and getting the highest price.
Additional services offered by seller’s agents include hosting open houses and tours, helping with closing, as well as negotiating with buyers’ agents regarding inspections and other issues.

Buyer’s agent help assist buyers in the preapproval process for a mortgage loan.
Buyer’s agent help identify properties that meet their client’s criteria.
Buyer’s agent also arrange appointments for buyers to view potential properties.
Buyer’s agent help buyers to understand the value of a house as they make an offer.
Buyer’s agent help coordinate communication between the title officer, seller, buyer and mortgage lender and assistance with closing.

Although their roles may be different, buyers’ agents and sellers’ agents have the same goals. They are determined to represent their clients as best they can and to negotiate lucrative deals that close.

Original Blog: https://realtytimes.com/archives/item/1039840-buyer-vs-seller-s-agent-how-do-they-compare?rtmpage=

Difference Between A Real Estate Broker, Agent & Realtor

February 8, 2023 by chorton Leave a Comment

It is a huge financial investment to buy or sell a house. Having the right real estate professional can make all the difference. It can help you to choose the right real estate professional for you, regardless of whether you are looking to sell or buy.

Brokers and real estate agents share many similarities. Both can help you sell or buy property. Pre-licensing training is required and you must pass a written licensing exam. Additional education is required for brokers to become licensed real estate agents . Brokers must also pass a broker license exam.

Agents are licensed salespeople who assist clients in buying or selling homes. Agents are considered independent contractors but must be licensed and work under the supervision of a real estate broker. They are usually compensated via commissions that are shared with the broker.

Real estate agents have to take classes and pass the licensing exam in their state before they can begin working. Agents must practice with or start working alongside someone who has a broker’s license when they first obtain their license. There are two types of real-estate agents: listing agents and buyer’s agents.

People who are looking to buy a home can use a buyer’s agent. It involves helping buyers to find homes in their local area, taking them on tours of the house and helping them to prepare submit offers to buy a home .

Listing agents are also known as sellers agents. They help people sell their homes. The agent will price the property appropriately to the market, list it on the local MLS, a directory of homes for sale, market it to potential buyers, and even stage the house for open houses .

Agents are real estate brokers who manage and own real estate brokerages. These companies work together with a Title Company and other entities to facilitate real estate transactions, and manage real estate agents. Many brokers also have licenses as agents.

Real estate brokers, like real estate agents must pass an exam and take classes to obtain a license. The broker exam is typically more difficult than that for agents, and requires additional coursework. There are several types of real-estate brokers.

Broker associates, licensed brokers, are real estate agents who have been trained and licensed to broker real estate transactions. Brokering their own transactions is often the first step real estate agents take to improve their career.

Designated brokers are usually managers or owners of real estate companies and can hire agents to help clients buy and sell property and resolve client problems. They can also offer training materials that will help their agents improve their skills and make more sales.

Although the responsibilities of brokers-of-record can vary from one state to the next, they typically oversee activities by agents and employees of the firm. This includes ensuring that all employees adhere to real estate law, maintaining accurate records, managing trust accounts and escrow accounts and reviewing paperwork before distributing commissions.

As brokers of record, managing brokers oversee the day to day operations of a realty firm. They are often responsible for training and mentoring agents, as well as overseeing the listing and marketing of homes. The firm must also ensure that all client transactions and interactions are documented.

Realtor is a trademarked name for real estate brokers or agents who are members of NAR, an industry trade association. While all Realtors are brokers or agents, not all brokers or agents are Realtors.

Realtors are required to adhere to the NAR code of ethics as members of the trade group. Brokers and agents who work outside NAR’s code of ethics are not considered unethical. However, every broker and agent licensed must follow state standards.

There are many professional services that a realtor, real estate agent, and broker can provide. It all depends on what you want and how much experience you have. A real estate agent, broker associate, or broker will be your best friend if you are buying or selling a house.

However, don’t assume that you have experience. While some agents may have many years of experience, others might not be ready to become brokers. Some brokers may only have a few years of experience. To gauge the track record of past clients, testimonials can be useful when deciding on a broker to work with. It all boils down to who you are most comfortable working with.

Original Blog: https://www.bankrate.com/real-estate/real-estate-broker-vs-agent/

Know The Hidden Costs And Fees Involved In Selling Your Home

February 3, 2023 by chorton Leave a Comment

Your home is most likely the biggest and most profitable investment you will ever make. It takes money to make it, as the old saying goes. Maximizing your investment’s value will require you to put some sweat equity as well as literal cash equity into it before it hits market.

Surcharges, fees and taxes can also be a surprise to home sellers. The average selling price of a house is , which is just above $15,000. It can make the difference between a stress-free, satisfying selling experience and one that is frustratingly draining.

When people hear the term “costs to sell your home”, the first thing they think of is the real estate agent commission. A real estate commission is typically 6% of the final sales price. What is the practical value of that commission? According to Zillow, the median home value in America is $229,000. The commission for selling a home at this price would be $13,740. This is a significant amount.

What happens to the 6% seller payout and where does it go? The commission is split between the buyer’s agent and the listing agent, with each taking home 3%. You want to incentivize them to sell the house for the highest possible price by fixing your agent’s compensation to that final sale price. They will make more if you pay them more.

Is it possible? In general, yes. Agent-assisted home sales sell faster and for more money than non-agent-assisted. NAR’s analysis shows that the median home sale value for agent-assisted sales is $250,000. However, the median home sale value for FSBO listings (for sale by owners) is only $190,000. While the real estate commission is one the largest costs in selling your home, it can also bring you the most value.

Closing costs can be described as a broad term that covers many smaller costs. They include the owner’s title fee, half the escrow fee (the buyer splits it), prorated utility costs and document preparation fees.

What is their value? They can vary from one state to the next and from one city to another. It is difficult to know. Closing costs are generally 1% to 2% of the home’s selling price.

You might think that you can just put all your stuff in boxes that you get at the grocery store and then drive it to your new home in your car. You’ll likely find yourself in a difficult situation when you have to sell your house.

There are many options for hiring movers. You can choose from one truck or a full-service interstate shipping firm. You can expect to pay anywhere from a few hundred to several thousand depending on the level of service you choose.

Let’s face it, few sellers will be surprised by moving costs or real estate commissions. The expenses below are less obvious, which can make it more difficult to cover.

Your home is probably where you’ve lived for many years. You may even find its imperfections endearing, just like a beloved t-shirt or your significant other over the years. Strangers will probably not see this. If your house is put up for sale, the shabby hardwood floors and oddly-painted walls will be liabilities. Any experienced real estate professional will tell you to make renovations before you go on your first showing.

It will cost you based on whether your house needs a new coat of paint or a new roof. You can expect to spend several hundred dollars on pre-sale renovations, but almost every house would benefit from a makeover.

Curb appeal refers to how potential buyers see your home as soon as they step out of their cars or drive up your driveway. The curb appeal of your house is as important as the home itself. Your property should be meticulously landscaped before it is listed. This includes trimming the lawn, trimming hedges, pruning trees and even planting flowers.

The size and maintenance requirements of your lawn will determine how much it costs. A manicured lawn is as good as a new kitchen for a home’s sale.

Staging is all about how your home looks inside and out. Landscape is about how your property is presented to the outside world. Staging can be anything from clearing out your shelves to purchasing a new dining table set.

Staging is, at its core, about presenting your home in the best possible light. Sometimes literally. It is important to let as much natural light as possible into your home. This means that you should remove heavy drapes and other window coverings. Visual clutter can be distracting and even cause anxiety. Therefore, you will need to remove all family photos and collectible plates and store them. You may have to dispose of any old or damaged furniture and buy new ones.

An agent can help you with staging. You can also hire professional home stagers to prepare your home for open house. Sellers should expect to spend between $100 and $400 on staging their homes. Professional home stagers will charge a fee around the four-figure range. In 2018, the median staging cost was $400.

It’s a fact that prospective buyers have already seen photos online before they set foot in your home. It is therefore important to include high-quality photos in your home listing. It is not easy to take a flattering, good-looking photo, as any Instagram user will tell you.

Unambiguous means listings with high-quality photos sell quicker than listings with poor photos. Listings with more photos are also more popular. Although professional photographers are not cheap, they can be a great investment.

Capital gains taxes may be due to the federal government if your home sells at a higher price than what you paid for it. This can be a significant amount of money. A 20% cut of capital gains profits wouldn’t cause a tax professional to raise eyebrows.

Many home sellers can exempt profits up to 25% (or half million for married couples filing jointly) and from tax liability. This exemption is subject to two conditions. The home must have been your primary residence for at least two of the five previous years. You also cannot have used capital gains exempt on any other home sale within the past two years.

This list shows that not all expenses can be reduced.

Taxes are not easy to lower. The following taxes are non-negotiable: property taxes, title fees, transfer taxes. Capital gains taxes are exempted from tax, but restrictions apply to how often this exemption can be used. Sellers who are facing a large capital gain tax bill might consider delaying the sale of their home to take advantage this exemption.

However, there are some expenses that can be reduced. You can save money on staging, landscaping, or renovations, especially if your family and friends are willing to paint, mow and buff. Even moving can be affordable if you don’t consider sweat and time.

This brings us to the real-estate commission. Although there are many low-cost agents, sellers need to remember that they often get less service for the same amount of money. You may save $13,000 by not using an agency, but your home will sell for $40,000 less if you use an agent.

There are increasing numbers of companies that offer a complete service selling experience for a flat rate. Full disclosure: We are one of them. These companies enable sellers to work with top agents in their market and receive all the benefits of their expertise for a fraction of the normal price. You might wonder why a top agent would sell a house for a flat fee when they could make 6% on another property? The agent is getting high-quality referral leads, which means that they spend less time hustling. It’s a win-win situation. Flat-fee realty companies are the best option for home sellers looking to reduce their costs, as the 6% commission is often the biggest single cost in selling a house.

Original Blog: https://realtytimes.com/archives/item/1032282-understanding-the-hidden-fees-and-costs-of-selling-your-home?rtmpage=