What Can Go Wrong During a Real Estate Transaction

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In the three short weeks I have been in Houston I have come to realize that in real estate, every day is a new day. My days in the office have been anything but mundane. Not only do you deal with different personalities, but no two transactions seem to ever be the same!With that being said, bumps in the road are likely to arise at some point. While other transactions go on smoothly, I have researched some of the most common things that can go wrong during a real estate transaction.

The top 15 are:

  1. Buyer Remorse
  2. Unknown structural issues arise
  3. SURPRISE! You’ve got MOLD!
  4. Buyer has been pre-approved- but,wait! Buyer has NO CREDIT!
  5. WAIT! You can’t take it with you! (appliances, etc…)
  6. New home is ready and you have to buy, but your home is not sold
  7. Your house is sold but you cannot find a property to buy
  8. Buyer’s real estate agent does not show up at settlement
  9. Your agent or the other agent acts unprofessionally
  10. Buyer does not bring money in correct form to settlement
  11. Sellers failed to properly complete repairs
  12. Lender drops the ball
  13. Faulty appraisal
  14. Buyer Converts Auto Lease to Purchase (or, buys a new car!)
  15. The SELLER decides not to SELL!

Buying or selling a home is exciting, especially when the market is right for it. To minimize the occurrence of the things that sometimes go wrong in real estate sales, selecting the best real estate agent will help you know what to expect and how to deal with these set backs when they arise. Navigate through the home buying and selling process with ease when you work with Ces Guerra at Better Homes and Gardens Gary Greene.

 

See http://activerain.com/blogsview/4710395/top-10-things-that-can-go-wrong-during-a-real-estate-transaction for more information on things that can go wrong during a real estate transaction.

-Kaylee Monteleone, Intern

Real Estate Agents CAN Work Together!

A common misconception in the world of real estate is that being an agent is easy. The truth is, being a real estate agent is hard work! To be successful, real estate agents take plenty of time, commitment, and acquire a real know of the industry. Because clients typically work 9-5 Monday through Friday, real estate agents will take calls on night and weekends. A dedicated agent is always on call!

Does this seem a bit overwhelming? A point may come where an agent is swamped and needs assistance. Unfortunately, people have the misconception that being a real estate agent means working for yourself and yourself only. But what happens when an agent has too many clients who need to see properties at the same time and no one is willing to go show a house for them? In this situation, as well as numerous others, the importance of building a positive relationship with other real estate agents is imperative.

real estate agents

With 30 plus years in business and 2 in real estate, Ces says, “while this is an independent profession we’re all working in, there are aspects that involve “teamwork”, “partnering”, collaboration and affiliation.” The goal of a successful team of real estate agents is to do more business; an efficient, well-organized team will generally close more deals than individual agents. The “team” can now be in 2 or 3 places at one time with more than one brain of experience and expertise. Not only does this result access and expertise to real estate consumers, but leads to a pleasant workplace and expansion of knowledge.

According to Mark Ford, founder of The Palm Beach Research Group, these are the 12 ways you can become more charismatic and get more out of your business relationships:

1. People tend to do business with people they like. So, behave in a way that makes you likable. Be polite and patient. Avoid being crude, rude, gruff, or impatient.

2. People are attracted to people who keep their word. That means when you make a promise, do exactly what you promised. Do it by the deadline you promised – or sooner.

3. People trust people who have their best interests at heart. They will think you have their best interests at heart when you give them advice that benefits them as much as, or more than, it benefits you.

4. People want to do business with people who are experts in their fields. So, become an expert in your field through practice, research, training, education, and study. As you acquire that expertise, share it. Give speeches, and write articles and books. Be generous with your knowledge. Know that in doing so, you are demonstrating your expertise.

5. People feel comfortable giving money to people who are authentic and honest. (That means you must be honest, frank, ethical, and aboveboard.) Believe that telling the truth is more powerful than lying, even when the lies are mendacities by omission.

6. People are attracted to people who are attractive. You don’t have to get plastic surgery, but you can eat right, exercise, dress well, and be well-groomed. And pay attention to your personal hygiene.

7. People feel better with people who seem to be “real.” The best way to do that is to admit your shortcomings when they are evident. When the conversation turns to a subject about which you know next to nothing, admit it.

8. People respond to people who listen and pay attention to what they are saying. Remember the old cliché: You have two ears and one mouth because you should listen twice as much as you talk.

9. People feel comfortable with people who are like them. The trick here is to identify what you have in common with the other person. It could be golf, kids, pets, or anything else. Then use that to cement a bond between you.

10. People are attracted to people who are humble. So don’t brag about your successes. You can mention them, but don’t brag. If someone brings them up, downplay them. Switch the topic as soon as possible to the other person.

11. People tend to value people who are in demand. That’s why you should never tell a prospective customer that things are slow and you really need his business. Think about doctors. How would you feel if you walked into a doctor’s office and you were the only patient? Wouldn’t you wonder how good he was? As much as you hate it when you have to sit there and wait, don’t you feel more assured when a doctor’s waiting room is packed? Of course you do.

12. People want to be surrounded by helpful people – people who make their lives easier and save them time. So make it a personal policy to attend to the needs of others – even when your purpose is to help yourself.

Following these steps to build and maintain good relationships with other real estate agents will encourage you to be more engaged and committed to your job. The doors will soon open for great opportunities!

See http://palmbeachgroup.com/content/palm-beach-daily/the-ultimate-3-step-guide-to-profitable-business-relationships-2/28434/ for more about building relationships in the work environment.

-Kaylee Monteleone

“Surround yourself with people that push you to do and be better. No drama or mess. Just higher goals and higher vibrations. Good times and positive energy. No jealousy or hate. Simply bringing out the absolute best in each other.” – thinkgrowprosper

Top 10 Real Estate Applications

With mobile real estate apps, you can look for a home while you’re filling your gas tank or waiting in line at the mall. (The way gas prices are looking, you better save money on housing). Whether you’re looking to rent or buy, the Apple ( AAPL) App Store has a lot to choose from.

If you’re planning out your search, these apps will help you narrow choices down. If you’re already on the hunt, using these apps can help you find what openings are nearby. Once you’ve found the perfect place, use the apps to calculate whether or not you can afford it. Sorry, the numbers don’t lie.

  1. Zillow App
  2. Trulia App
  3. Realtor App
  4. Loopnet Commercial Real Estate Search
  5. Classifieds2Go
  6. Real Estate Calc: Mortgage & Home Qualification Calculator
  7. Open House Manager
  8. Docusign
  9. Agent Reports Ntreis MLS sheets
  10. Supra Ekey
  11. Keynote
  12. Apple Maps

Keep in mind this is on a National survey.  For local searches, HAR updates its information every 15 minutes!   That’s fast!!!

Superstitions in Real Estate

Have you ever had a superstitious client?  What about yourself? During my first open house as an intern a couple expressed some superstitions that changed their minds on the house. This intrigued me to explore how cultural superstitions/ old tales play a role in a clients decision to buy or sell a home.

Some of the most popular superstitions I came across were:

 

Finding the Right Place
– According to the Chinese philosophical system of feng shui, a house must have windows the east side to face the sunrise, or it’s bad luck.
– The Chinese also believe that moving into a home that sits on a curved road or faces a “T” intersection will bring bad fortune.

– Also in China, home buyers are warned to avoid homes with the number four in the address, because the the word for “four” sounds like the word for death in both Cantonese and Mandarin.

Buying It
– Look for homes that have the number eight somewhere in the list price. In China, this is said to be good luck.

– In the Philippines, the date a property is transferred matters. To ensure that things keep looking up for you, make sure the closing d
ate includes a number that, when written, ends with the pen stroke pointing toward the top of the page rather than the bottom, such as 0, 3, 5, or 8.

Moving in
– In India it is said to be bad luck to move into a new house on a Friday or Saturday, or on a rainy day. Thursday is considered the luckiest day to move in.

– Always buy a new broom for a new house. According to popular belief, bringing an old broom to a new home will bring along all of the bad luck you want to leave behind, whereas a new broom signifies a fresh start.

– Stuffing fennel into your keyhole or hanging it over the door is said to protect your home from witches.

– A southern legend claims that painting your front porch blue will ward off ghosts. The ghosts, which can’t cross water, mistake the blue porch for water and stay away.

– The ancient Norse believed that placing an acorn on a windowsill would protect the house from being struck by lightning.

In real estate, it is important to honor cultural superstitions and beliefs. Not only does this build a solid relationship, but it will help effectively search for the right homes resulting in more closings.

-Kaylee Monteleone

Visit http://farmersalmanac.com/home-garden/2013/10/28/home-buying-superstitions/ for more information on home superstitions.

top secrets

Buying A Home & Using A Realtor

When the time comes to buy your home, like most consumers, you’ll probably start the search immediately with Realtor.com, Zillow or the local HAR site.   Not so fast my friend!   Cool your jets, because there are at least a couple of steps you should think about beforehand!

  1.  Finding your professional Realtor:   The most common method consumers use is the word of mouth approach, which works most of the time because the referral comes from someone you trust that has had a good experience with a Realtor.   A risky approach to find an agent in a random fashion, you could go to the local newspaper or walk into a local real estate brokerage firm and ask to meet someone.  Other steps you could take is to google certain geographic areas, or specialties.   You could save yourself the trouble and call me!
  2. Pre-approval – It is best to go into a search knowing exactly what you can afford and having  a relationship with your lender.  The lender will drive the transaction and it’s best to work with an experienced and knowledgeable mortgage lender.

Inventories are experiencing a slight uptick and at a 3.6 month supply according to the latest Houston market data.  A 6 month supply is recognized as a normal supply, so you can see the inventory is still a little low but increasing.   Some Houston geographic areas remain hot such as the Inner Loop and Energy Corridor.   Homes in certain price ranges are moving briskly as well.   Generally speaking, homes priced below $400,000 are selling fast and homes below $200,000 are even receiving multiple offers.