Why Real Estate Investing Makes (Dollars and) Sense
Top 12 Apps for Homeowners and Renters
The Consumer's Guide to Hiring an Amazing Real Estate Agent
Why Real Estate Investing Makes
(Dollars and) Sense
Turn on the television or scroll through Facebook, and chances are you’ll see at least one advertisement for a group or “guru” who promises to teach you how to “get rich quick” through real estate investing. The truth is, much of what they’re selling are high-risk tactics that aren’t a good fit for the average investor. However, there is a way to make steady, predictable, low-risk income through real estate investing. In this blog post, we’ll examine the tried-and-true tactics that can be used to increase your income, pay off debt … even fund your retirement!
WHY INVEST IN REAL ESTATE?
One of the basic principles of real estate investment lies in this fact: everyone needs a place to live. And according to the Bureau of Labor Statistics’ most recent Consumer Expenditures Survey, housing is typically an American’s largest expense.1
But there are other reasons why real estate is a great investment choice, and we’ve outlined the top five below:
1. Appreciation
Appreciation
is the increase in your property’s value over time. History has proven that
over an extended period of time, the value of real estate continues to rise.
That doesn’t mean recessions won’t occur. The real estate market is cyclical,
and market ups and downs are natural. In fact, the U.S. housing market took a
sharp downturn in 2008, and many properties took several years to recover their
value. However, in the vast majority of markets, the value of real estate does
grow over the long term.
The S&P CoreLogic Case-Shiller National Home Price Index, which tracks U.S. residential real estate prices, released its latest results on August 29 with the headline “National Home Price Index Rises Again to All Time High.”2
While no investment is without risk, real estate has proven again and again to be a solid choice to invest your money over the long term.
2. Hedge Against Inflation
Inflation is the rate at which the general cost of goods and services rises. As inflation rises, prices go up. This means the money you have in your bank account is essentially worth less because your purchasing power has decreased.
Luckily, real estate prices also rise when inflation increases. That means any money you have invested in real estate will rise with (or often exceed) the rate of inflation. Therefore, real estate is a smart place to put your money to guard against inflation.
3. Cash Flow
One of the big benefits of investing in real estate over the stock market is its ability to provide a fairly steady and predictable monthly cash flow. That is, if you choose to rent out your investment property to a tenant, you can expect to receive a rent payment each month.
If
you’ve invested wisely, the rent payment should cover the debt obligation you
may have on the property (i.e. mortgage), as well as any repairs and
maintenance that are needed. Ideally, the monthly rental income would be great
enough to leave you a little extra cash each month, as well. You could use that
extra money to pay off the mortgage faster, cover your own household expenses,
or save for another investment property.
Even if you only take in enough rent to cover your expenses, a rental property purchase will pay for itself over time. As you pay down the mortgage every month with your rental income, your equity will continue to increase, until you own the property free and clear … leaving you with residual cash flow for years to come.
As
the owner, you will also benefit from the property’s appreciation when it comes
time to sell. This can be a great way to save for retirement or even fund a
child’s college education. Purchase a property when the child is young, and
with a little discipline, it can be paid off by the time they are ready to go
to college. You can sell it for a lump sum, or use the monthly income to pay
their tuition and expenses.
4. Leverage
One
of the unique features that sets real estate apart from other asset classes is
the ability to leverage your investment. Leverage is the use of borrowed
capital to increase the potential return of an investment.
For example, if you purchase an investment property for $100,000, you might put 10% down ($10,000) and borrow the remaining $90,000 in the form of a mortgage.
Even though you’ve only invested $10,000 at this point, you have the ability to earn a profit on the entire $100,000 investment. So, if the property appreciates to $120,000 – a 20% increase over the purchase price – you still only have to pay the bank back the original $90,000 (plus interest) … and you get to keep the $20,000 profit.
That means you made $20,000 off of a $10,000 investment, essentially doubling your money, even though the market only went up by 20%! That’s the power of leverage.
5. Tax Advantages
One
of the top reasons to invest in real estate is the tax benefit. There are
numerous ways a real estate investment can save you money each year on taxes:
Depreciation
When
you record your income from a rental property on your annual tax return, you
get to deduct any expenses associated with the investment. This includes interest
paid on the mortgage, maintenance, repairs and improvements, but it also
includes something called depreciation.
Depreciation is the theoretical loss your property suffers each year due to aging. While it’s true that as a home ages it will structurally need repairs and systems will eventually need to be replaced, we’ve also learned in this post that the value of real estate appreciates over time. So getting to claim a “loss” on your investment that is actually gaining in value makes real estate an appealing investment choice.
Serial Home Selling
Even if you’re not interested in owning a rental property, other types of real estate investments offer tax advantages, as well. Generally, when you own an investment property you pay a capital gains tax on any profits you make when you sell the property.
However, when you sell your principal residence, you are exempt from paying taxes on capital gains (up to $250,000 for singles and $500,000 for couples). The Internal Revenue Service (IRS) only requires that you live in the house for two of the previous five years. That means you can purchase an investment property, live in it while you remodel it, and then sell it for a tax-free profit two years later. This can be a great way to get started in real estate investing.
Section 1031 Exchanges
In
addition to profiting off of your personal residence tax free, it is possible
to sell an investment property tax free if you do it through a 1031 Exchange.
If structured properly, the IRS Tax Code enables an investor to sell a property
and reinvest the proceeds in a new property while deferring all capital gains
taxes.
Tax-Deferred Retirement Account
It’s
a common misconception that you can only purchase financial instruments (i.e.
stocks, bonds, mutual funds, etc.) through an Individual Retirement Account
(IRA) or 401(k). In actuality, the IRS allows individuals to invest retirement
funds in real estate and other alternative types of investments, as well. By
purchasing your investment property through an IRA, you can take advantage of
all of the tax savings these accounts offer.
Be sure to consult a tax professional regarding all tax matters related to your real estate investments. If structured correctly, the profits you earn on your real estate investments can be largely shielded from tax liability. Just another reason to choose real estate as your preferred investment vehicle.
While there are numerous ways to invest in real estate, we’re going to focus on three primary ways average investors earn money through real estate. We touched on several of these already in the previous section.
1. Remodel and Resell
HGTV
has countless “reality” shows featuring property flippers who make this
investment strategy look easy. Commonly referred to as a “Fix and Flip,”
investors purchase a property with the intention of remodeling it in a short
period of time, with the hope of selling it quickly for a profit.
This is a higher-risk tactic, and one for which many of the real estate “gurus” we talked about earlier claim to have the magic formula. They promise huge profits in a short amount of time. But investors need to understand the risks involved, and be prepared financially to cover additional expenses that may arise.
Luckily, an experienced real estate agent can help you identify properties that may be good candidates for this type of investment strategy… and help you avoid some of the pitfalls that could derail your plans.
2. Traditional Rental
One of the more conservative choices for investing in real estate is to purchase a rental property. The appeal of a rental property is that you can generate cash flow to cover the expenses, while taking advantage of the property’s long-term appreciation in value, and the tax benefits of investing in real estate. It’s a win-win, and a great way for first-time investors to get started.
And
according to the U.S. Bureau of Labor Statistics, rents for primary residences
have increased 21.9 percent between 2007 and 2015 as demand for rental units
continues to grow.1
3. Short-term Rental
With the huge movement toward a “sharing economy,” platforms that facilitate short-term rentals, like Airbnb and HomeAway, are booming. Their popularity has spurred a growing trend toward dual-purpose vacation homes, which owners use themselves part of the year, and rent out the remainder of the time. There are also a growing number of investors purchasing single-family homes for the sole purpose of leasing them on these sites.
Short-term
rentals offer several benefits over traditional rentals, which many investors
find attractive, including flexibility and higher profit margins. However, the
most profitable properties are strategically located near popular tourist
destinations. You’ll need an experienced real estate professional to help you
identify the right property if you want to be successful in this
highly-competitive market.
DOES REAL ESTATE INVESTING SOUND TOO GOOD TO BE TRUE?
We’ve all heard stories, or maybe even know someone, who struck it rich with a well-timed real estate purchase. However, just like any investment strategy, a high potential for earnings often goes hand-in-hand with an increase in risk. Still, there’s substantial evidence that a well-executed real estate investment can be one of the best choices for your money.
Purchasing a home to remodel and resell can be highly profitable, as long as you have a trusted team in place to complete the remodel quickly and within budget … and the financial means to carry the property for a few extra months if delays occur.
Or, if you buy a house for appreciation and cash flow, you can ride through the market ups and downs without stress because you know your property value is bound to increase over time, and your expenses are covered by your rental income.
In either scenario, make sure you’re working with a real estate agent who has knowledge of the investment market and can guide you through the process. While no investment is without risk, a conservative and well-planned investment in real estate can supplement your income and set you up for future financial security.
If you are considering an investment in real estate, please contact us to set up a free consultation. We have experience working with all types of investors and can help you determine the best strategy to meet your investment goals.
Sources:
1. Bureau of Labor Statistics
Consumer Expenditure Survey Annual Report
– https://www.bls.gov/opub/reports/consumer-expenditures/2015/home.htm
2. S&P Dow Jones Indices
Press Release –
https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/574349_cshomeprice-release-0829.pdf?force_download=true
3. Durden, T. (2016 November 29).
US Home Prices Rise Above July 2006 Levels, Hit New Record High [blog post]
ZeroHedge –
http://www.zerohedge.com/news/2016-11-29/us-home-prices-rise-above-july-2006-levels-hit-new-record-high
*****************************************************
Top 12 Apps
for Homeowners and Renters
More than 77 percent of people own a
smartphone.1 The average person checks their smartphone 46 times a
day, with people under the age of 24 checking it an average of 74 times a day.1
We check it while we’re waiting in line and during our leisure time, whether
we’re scrolling through social media, reading emails or getting up-to-date on
the latest news.
Smartphones are not only a useful tool for
communication. With the following apps, you can get organized (whether you plan
to buy or sell), save money, learn about the homes in your neighborhood and get
inspired for your next renovation project. If you’re like 81 percent of people,
you have your smartphone with you during most of your waking hours; let it help
you stay organized and make your life easier.3
Apps For Homeowners: Get Renovation
Inspiration
These apps not only offer ideas for your next
remodel or home décor project, some of them even give you a preview of what
your home may look like once it’s finished.
1.)
Houzz (Free)
The Houzz app is the number one app for home
design and it’s no wonder; the app gives you access to all the inspiration,
blogs and design ideas from the Houzz site on your phone or tablet. The app
features View in My Room 3D, which allows you to view products in your home before
you buy. Just take a photo of the space and a 3D version of the product will
appear. Browse products, save photos of designs you’d like to view later and
connect with local professionals in your area. Whether you’re gathering ideas
for your next renovation and décor project or you’re just browsing, the Houzz
app will satisfy all your design needs.
2.)
iHandy Carpenter ($1.99)
Make sure the photos, shelves, mirrors and
other artwork you hang are even and aligned with this helpful app. It’s an
all-in-one tool kit that features a plumb bob, surface level, bubble level bar,
ruler and protractor. No need to purchase these tools separately; just hold
your smartphone up to the wall and the app will take care of the rest.
3.)
Color911 ($3.99)
If you’re thinking of changing the color
scheme of your home or want to find the right shades for lamp shades, rugs or
throw pillows to match your vintage sofa, the Color911 app provides
pre-selected color palettes to match any color scheme. Take a photo of the room
or the furniture and the app will create a custom palette full of complementary
colors. Write notes about your palette and organize it all into folders to
share with family, friends or your design professional.
(iOS)
Bonus Apps for Homeowners:
AroundMe
(Free)
Hungry and looking for a local hotspot?
Meeting friends at a coffee shop nearby? Or just need to find the closest ATM?
AroundMe allows you to search for the nearest restaurants, banks, gas stations,
book a hotel or find a movie schedule close to where you live. Open the app and
start learning more about your neighborhood. (iOS, Android, Windows)
BrightNest
(Free)
From keeping things clean to making them
colorful, Brightnest, developed by Angie’s List, is loaded with suggestions on
how to make your home a better place to live. With categories of customized
tips (money-saving, cleaning, eco-friendly, healthy, cooking, and creative)
there are plenty of great ways to pull inspiration from the app. BrightNest
will help you tackle important home tasks with easy-to-follow instructions, a
personal schedule and helpful reminders. (iOS, Android, Web)
Apps For Sellers: List & Sell
Your Home Quickly
Are you a homeowner who is thinking of
selling? If you’re preparing to sell, you know there are a lot of tasks to
complete before putting your home on the market. These apps help you manage
your to-dos so you can list and sell your home more efficiently with fewer
distractions.
4.)
Homesnap (Free)
Using the Homesnap app, you can snap a photo of any home,
nationwide, to learn more about it. When you’re ready to sell, snap a few of
the homes in your neighborhood to find out their valuation. This app isn’t perfect,
which is why you should always consult with a local real estate agent. However,
it can give you a general idea of the value of your home compared to others in
the neighborhood. (iOS and Android devices)
5.)
Docusign (Free)
Use
the DocuSign app to complete approvals and agreements in hours—not days—from
anywhere and on any device. Quickly and securely access and sign any documents.
The benefit to using the app (over your desktop computer) is you will receive
push notifications when a document is waiting for your signature and you can
view and organize all your docs on-the-go. Using the easily downloadable app,
receive and sign documents for free. You can receive and sign documents for
free, but will need a paid account to send documents; pricing starts at $10 a
month. (iOS, Android, Windows, Web).
6.)
Wunderlist (Free)
Designed for use on the Web and mobile
devices, Wunderlist is a well-designed to-do list and task management program
that makes it easy to create a list and add tasks, due dates and reminders.
Organize your ideas or focus into separate lists or create tasks within one
list. You can also email them with whomever you collaborate, such as a spouse
or your real estate agent. (Android, iOS,
Windows Phone, Web)
Bonus App for Sellers:
Real
Estate Dictionary (Free)
Not sure what all those industry specific
terms mean? Search thousands of words and phrases from real estate, mortgage,
and financial dictionaries for clear, in-depth definitions. This is a handy app
for anyone who’s buying or selling and wants to learn more about the process. (iOS, Android)
Apps For Renters: Get Ready to Buy
Not ready to buy a home just yet? These apps
will help you get into the perfect rental while you save money, build a budget
and get on track for homeownership.
7.)
Mint (Free)
Do you know where your money goes each month?
Manage your bills, budget and credit score all in one place. Mint is a free app
that helps you view your complete financial picture and track your spending. We
recommend this app to anyone, but it’s especially useful for renters who need
to crack down on their spending in order to save for a down payment. Use Mint
to look for areas you can cut spending in order to save a little extra each
month. (iOS, Android)
8.)
Acorns ($1 a month to start)
Acorns is modernizing the practice of saving
loose change with their automated savings tool. The app rounds up your
purchases on linked credit or debit cards, then sweeps the change into a
computer-managed investment portfolio. Acorns is free for four years for
college students and everyone else pays $1 a month until their account balance
hits $5,000, then 0.25% of their account balance per year. This is a useful
tool for those who have a hard time saving. (iOS, Android)
9.)
Neighborhoods & Apartments
Built for the on-the-go apartment hunter, this
app from Walk Score takes the hassle out of finding your next home or apartment
and helps you live near the people and places you love. They collect listings
from top rental listing sites and we like them because they share how walkable
each address is, determined
by access to public transit, things to do, bike trails, shorter commutes, etc. (iOS, Android)
Wally (Free)
Wally
is a personal finance app that helps you compare your income to expenses, so
you can understand where your money goes each month, and set and achieve goals.
Wally lets you keep track of the details as you spend money: where, when, what,
why, & how much. We love how simple it is to set a personalized savings
target and scan receipts. (iOS, Android)
Credit Karma (Free)
If you’re preparing to buy, boosting your credit score
is likely a goal you’ve set. Credit Karma is a free app that allows you to
safely monitor your score and receive updates on ways you can improve it over
time. They provide financial calculators and educational articles to help you
better understand what credit is all about. Check as often as you want, and it
doesn’t hurt your score. (iOS, Android, Web)
Apps for Buyers: Find the Perfect Home
When you’re ready to buy, there are several
apps that can help you stay on top of the process. Whether you’re browsing
online at different neighborhoods and homes and can’t seem to remember where
all your saved data and information went or you want to save an important task
or a neighborhood or listing clipped from the Web, these apps help you keep it
all straight.
10.)
Dwellr (Free)
Dwellr is run by the U.S Census Bureau and
provides demographic information about the neighborhoods you are considering moving
to. You get a variety of education/school, real estate, transportation, and
population statistics to give you an idea of what it would be like living
there. If you want to get the feel of a potential neighborhood, then Dwellr may
just be the app to help you find the best home. (iOS, Android)
11.)
Evernote (Free for the Basic version, $34.99 per year
for Plus and $69.99 per year for Premium)
Collect ideas, notes and images in one place
to access later on your computer, tablet or smartphone. Categorize your notes
so you can find them quickly and easily and share them with others in a group
notebook. Add the Web Clipper feature to your browser and clip and save
articles, blogs and images from the Web. Whether you’re collecting research on
a business idea or you’re looking for inspiration for a home renovation, Evernote
can help you keep it all together. (Web, iOS, Android)
12.)
Mortgage Calculator (Free)
There are a lot of free mortgage calculators
available for download that will help you quickly determine what your monthly
payment will be while you’re house hunting. We recommend picking your favorite
and using it to help you shop in your price range. These numbers should be used
as a guide, work with your agent and mortgage professional to learn exactly
what type of loan you’ll qualify for. (Web, iOS, Android)
Bonus App for Buyers:
Google Maps (Free)
Google
Maps is a must-have for anyone who’s house hunting. When you’re ready to visit
a property or check out a neighborhood, you can use Google Maps to give you
turn by turn directions to the house. You can use their satellite view to get a
good idea how far important things like schools, parks, shopping, bus stops,
and restaurants are to a home you are interested in and check out the other
houses on the street. (Web, Android, iOS,)
Ready
to move beyond the app?
If you’re thinking of buying or selling your
home, or know someone who is, keep us in mind because we’re happy to help!
Source: 1. Pew Research Center, January 12,
2017
http://www.pewresearch.org/fact-tank/2017/01/12/evolution-of-technology/
2. Deloitte, 2016 global mobile consumer survey: US edition
https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/global-mobile-consumer-survey-us-edition.html
3. Gallup, July 9,
2015
http://www.gallup.com/poll/184046/smartphone-owners-check-phone-least-hourly.aspx
The Consumer’s
Guide to Hiring an Amazing Real Estate Agent
When you’re buying or selling a home, it’s
crucial to work with a qualified real estate agent. Not just a professional,
but an amazing agent and a market expert. So
how do you ensure you’re hiring an amazing real estate agent?
There are currently more than two million real estate professionals in North America.1,2 With so many options to choose from, how does a prospective home buyer or seller choose the right agent or broker? According to the National Association of Realtors®, trust and reputation are the top deciding factors consumers use when hiring an agent.3
But how do you measure trust and reputation ... and what criteria can be used to help you make your decision?
In this guide, we've outlined the top attributes that amazing agents possess, as well as the questions you can ask to make sure you’re working with the right market expert to achieve your real estate goals.
As we mentioned above, not all real estate professionals are the same. And it’s easy to be overwhelmed by the options and information about working with real estate professionals to buy or sell your home. In fact, many real estate markets are oversaturated with agents.
To help you understand what makes top agents and market experts stand apart from the competition, following are five key attributes of an amazing agent:
1. A
Pricing Specialist
If an agent has their real estate license, they know the basics of the transaction process. They know what goes into buying and selling a home. However, there’s a difference between knowing the process and navigating it for an ideal result. This ideal result often means buying or selling a home for the best price.
For buyers, amazing agents have a strong understanding of market trends, competition, and how to make your offer attractive to sellers. They can help you identify and secure a deal to ensure you get the home you want, within your desired budget.
If you’re selling a home, market experts have experience pricing homes optimally for the market, and creating pricing plans to minimize the time spent selling the home. This will help you sell for your desired price, and avoid costs like additional mortgage and utility payments.
Takeaway: Whether buying or selling a home, pricing can be tricky. Market
experts can help navigate best-possible pricing strategies, and also secure
the home you want within your budget. |
2. An
Effective Time Manager
It’s common to underestimate the amount of time it takes to buy or sell your home. The average real estate agent may not be utilizing the latest tools and technology to make the transaction easier and more cost effective for their clients. Market experts have tools and strategies at their disposal to minimize the amount of time you spend on the process.
For sellers, market experts can make sure you only deal with qualified buyers, not the “window shoppers” who can waste your time. We also utilize the latest marketing practices to advertise and price your home effectively, ensuring it gets sold quickly.
When looking to buy a home, inexperienced agents may waste your time by showing you homes that are not a good fit for you. A market expert knows how to prioritize your needs and wants to find you the ideal home within your budget. They also know how to spot “red flags” and can steer you away from homes that are likely to turn up major issues in a real estate inspection, saving you time and money.
In addition, well-networked Realtors can gain access to the hottest listings before many websites do. Their extensive professional networks can help identify “pre-list” homes before they’re officially on the market. This can be invaluable in a highly-competitive real estate market.
Takeaway: Even a well-intentioned agent may not have the skills, tools or
technology to make the experience easy for you. There are lots of hidden
activities that may take up unexpected time, and a market expert will save
you time and energy. |
3. A
Market Insider
While most agents can pull market stats about a neighborhood, community or city, they may not understand important trends or developments that would affect your transaction. These can include the state of the school district, issues with a homeowner association, new businesses in the area, zoning rules or trends in home prices.
Market experts live and breathe local real estate and know the trigger points for buying and selling in this market. We also stay current on effective marketing and negotiation practices, resulting in our track record of success.
For sellers, we understand what features of your home and neighborhood are assets in the selling process. And for buyers, we share a deep understanding of market factors, including school and neighborhood quality, crime statistics, speed of sales and more.
Takeaway: Getting relevant and specific market knowledge can be difficult and
time consuming, which is why many real estate agents don’t have it. Whether
you’re buying or selling a home, an experienced real estate agent is often
the best source of information about a city, neighborhood, or even street …
we’re literally conducting market research every day. |
4. A
Strong Negotiator
Amazing agents truly set themselves apart in their ability to negotiate. Unfortunately, a large portion of agents don’t commit their full time to increasing this key skill.
Real estate negotiations can be challenging, even for seasoned professionals. It takes skill, experience and a knowledge of how to fight for your client’s best interests. While any agent can enter negotiations to buy or sell a home, they may not know the effective strategies to exit those negotiations with the result you want.
Experienced Realtors focus on negotiation as a key skill. We understand what to do before entering negotiations (establishing the upper hand to set up the best outcome), as well as during the process (when to offer or accept concessions).
Takeaway: Many agents can feel the stress of the negotiation process, and may
agree to terms of the buyer/seller. Working with a market expert will help
ensure you get the best deal, not just the fastest deal. |
5. An
Effective Closer
Closing a deal fast is often a good thing. For buyers, it means you found the home you wanted quickly. For sellers, it often means you can avoid the added expenses of mortgage and utility payments, and maximize the value of your home sale.
However, an agent solely focused on speed can make decisions that aren’t in your best interests. Top real estate professionals know how to not only achieve your real estate goals quickly, but in the right way to avoid potential pitfalls.
Just like negotiations, the paperwork and process of closing a real estate transaction are complicated. And they can be overwhelming for the average agent who hasn’t handled a lot of transactions. Sales contracts, property disclosures, occupancy agreements and even lead paint records need to be executed with precision. Your agent not only needs to be familiar with these, but also stay current on any changes in requirements or regulations.
Market experts have a strong understanding of real estate contracts, timelines, clauses and contingencies within the closing process. In fact, avoiding pitfalls during the closing process is where many sellers find an experienced Realtor is a huge asset.
Takeaway: Many agents don’t have a firm understanding of contracts. Because a
real estate transaction often involves a significant investment, even a small
mistake can mean serious trouble. With that in mind, it’s often best, and
most responsible, to work with a true market expert. |
5
QUESTIONS TO ASK YOUR REAL ESTATE AGENT
So how do you know if you’re working with an amazing agent?
The first step would be to “shop around.” Many people work with the first agent they come across without a firm understanding of their level of experience. It’s always a good idea to interview a number of agents before selecting one. If you’ve gotten referrals from people you trust, then you may only need to interview 2-3 agents.
However, it can be tough to know what to ask in the interview process. Here are some questions that can help you qualify the best agent to help you achieve your real estate goals:
1. Can you send
me some information about yourself?
Look for professionalism and consistency. What
are their professional accomplishments? Also, try to identify how they approach
their work. Look for a business person who has a strategy and solid support
system. If they’re a newer agent, ask about their team’s dynamic and
accomplishments.
2. How long
have you been in real estate?
The average Realtor has 10 years of experience4.
But while longevity is important, even more telling are the number of
transactions they have closed or been involved in. So feel free to also ask:
“How many homes have you sold in this area?”
3. What will
you do to keep me informed?
Do you want daily or weekly reports from your
agent? Will the agent be able to meet these expectations? Determine how much
communication you want, and then find an agent who will give you the attention
and time you want and deserve.
4. Can you
provide me with further resources I may need?
From market reports and pricing trends to
school performance and crime statistics, top agents have resources at their
disposal. In addition, market experts have built strong relationships with
their extended team of professionals, and can often get expedient service or be
able to “cash in a favor” for you should a need arise.
5. Seller only:
Can you share with me your plan to market my property? Many agents will simply put
your home in the MLS and wait for it to sell. An amazing agent should have a
detailed plan of how to get your home exposure on social media, to their local
networks, and more.
GET
STARTED
Now that you’re armed with the 5 Attributes of Amazing Agents and the Top Questions to ensure you work with the best possible real estate agent, you’re ready to start interviewing agents.
We’d love an opportunity to win your business. Schedule a free consultation with us to find out how true market experts can help you achieve your real estate goals!
Sources:
1. National Association of
REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
2. Financial Post – http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-housing-bubble-agents/wcm/b49d4e3a-bd8d-4d1c-9566-bd3d80c8e23a
3. National Association of
REALTORS –
https://www.nar.realtor/reports/highlights-from-the-profile-of-home-buyers-and-sellers
4. National Association of
REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
-
My Home Tracker
- Save your favorite homes
- Get new property alerts
- Share with friends and family
-
Home Values
Find and compare local neighborhood home values