It’s a good shocker. Warranty Firms want to fix your property. They want to spend money on your home. Ok, let’s face it, they are in the business to make money. Long term money. So, to make dollars over time, you gotta spend some money now. Now is the time to be generous.
Home Warranty sales people call on REALTORS® as clients. When a home buyer has a problem and calls the home warranty company, the firm will repair, replace or deny the claim. The denial is based upon a problem outside the scope of coverage or because there was a pre-existing condition. The warranty sales representative does not want denials because they want the REALTOR® client to continue to refer them to new buyers. Particularly if the agent is a high producer who represents the potential for lots of business. [Yet another reason to work with reputable and top producing agents – but that is for another Blog.]
Rest assured that reputable agents give service provider referrals to their customers based upon superior service. When your REALTOR® refers a home warranty company, read the literature before you close escrow and know that if you have a claim that is unresolved to call your real estate agent. Between your agent and the warranty sales representative, they can many times resolve issues with your claim. -NOT ALWAYS, BUT OFTEN!
Let me make up a statistic – most Americans know on an average, 5.4 real estate agents. The problem is that many of those agents operate like that .4 agent. You may have a relative, or friend in your Bunco Club who sells real estate. You hire them because they are your family or a dice throwing friend. THEY MAY NOT EVEN BE A FULL TIME BOARD MEMBER!
But Their Listing Fee is Cheap…
It better be! When you are out of value to give to your clients, you can only compete on price. And we all know, (sorry to begin a sentence with and,) that the wrong termite inspector who overcharged a grand, the 3 grand loss in valuation because the agent didn’t provide answers to the questions that the appraiser had on appraisal day and, poor or absent negotiation skills which left 5 grand on the table at acceptance of the offer and another grand when the buyers asked for repair credits. Before you know it, this example shows a 10 grand loss to the seller because the listing agent lacked the skills or chose not to use them. So much for the discounted real estate agent price.
Check the Agent’s Reviews!
Go to www.Yelp.com, http://www.realtor.com and www.Linkedin.com. These are the best places to get agent reviews. Professional agents know who the good agents are and who the rough ones are in any given marketplace. Professional agents know that rough or unprofessional agents can jeopardize closing a transaction. The unprofessional agents are often times avoided by professional agents.
Reasearch Before you Hire
Hire only the best, even if that means not hiring your cousin or your bones-tossing friend. By researching your next agent before you hire him or her, you have the best chance of getting the most professional agent possible. It is likely your representative will have a great reputation and other professionals will want to work with you and your great agent.
If you like and trust your agent, never change. If you trust he or she is honest, cares about you and is professional in every way, keep your agent for life. So many people want to change because their offers are not getting accepted or their house is not selling. Be honest and ask yourself- “Have you adopted every recommendation your agent has given you?” If not, then perhaps your agent is not to blame.
Changing a Buyer’s Agent
If your agent can not pull up a property on their phone or can not open a lock box with their card key or their phone, it may be time to change agents. If your representative does not have a route planned for your day of showing and is lost and always making u-turns, it’s time to switch. If your real estate man can’t tell you about the local schools, where the freeway onramps are and give you community information, it may be time to change your agent.
Changing a Seller’s Agent
If you always get last minute calls to show your property or haven’t heard from your agent in 2 weeks, it may be time to change. If your agent has not changed your flyer, updated their professional video and photos and has not made pricing recommendations throughout the listing, It may be time to switch.
Talk to Your Agent First
Always let your agent know your expectations. Yes, you want to close a transaction, however let your agent know if you are dissatisfied with anything. Real professionals listen and cater to their clients. Remember, some agents are under contract so changing them may require permission from the broker.
So you paid the $40,000 penalty
-you cashed in the retirement money. Grandma left you a couple hundred thousand. You want to make your retirement fund grow quicker than your stock broker has. You decide to enter the “Flip Zone.
You kept your home operational for all these years. You know basic plumbing, electrical and roof repair. Lord knows you are an expert at painting and drywall screwing. A master with tools that have interchangeable bits and blades. You can figure it out or bail it out.
You drop $1,200 into a weekend
class that promises properties, tradesmen and financing. You realize they want you to go find properties for them.
You call a few real estate agents who get calls from dreamers like you every day. You want to be at the top of their list for great flipper buys but since you want a part of their earnings, you cheap your way to the bottom of their list.
It’s ok; you are a #DIY’er. You find a property on Zooliow, go directly to the listing agent thinking you can swing a deal only to find out that you closed escrow on a home that was “At Market.” You forgot that the $1200 class said to buy “Below Market.”
What was to be a 30 day “Fix and Close” project is now a 120-day septic disaster that a toilet snake couldn’t fix and is a hidden mold-monster impervious to bleach.
Avoid the greatest “Flip Zone Failure”
Don’t do it all yourself. Hire your own professional REALTOR® and have a professional contractor team to help.
Image courtesy of khunaspix at FreeDigitalPhotos.net
To buy, or not to buy…
…that is the question. Although home buyers, in contemplating the nature of action, do not characteristically wax existentially. They do however repeat the question “to buy or not to buy.”
One or a two story Home?
Another question that they have is whether to purchase a one story or a two story. Builders have often built Two Stories in order to get more square footage on the parcel and more units in the development. Another benefit to managed density is the ability to bring the infrastructure of community closer to residents. Parks, shopping, and schools can be located closer to the population.
Builders also understand the desire for homes without steps. Buyers like ranch-style homes that offer elbow room and stair-less navigation. As the economics permit, builders incorporate one-story models within many community projects.
What are today’s buyers looking for?
As the baby boomers get more knee and hip replacements, they generally avoid stairs. However, location, demographics and inventory availability contribute to demand. Here are some snapshots of San Diego County sales over the past *90 days:
Community Single Story Sales Two Story Sales
Alpine 61 47
Granite Hills 38 22
Mt. Helix 65 12
Ocean Beach 24 14
La Costa 32 164
San Diego County remains a collective of micro areas and general statistics never tell the full story. Hiring a professional REALTOR® will help you with information in your specific community.
*Date collected from Sandicor MLS 8/24/15. Areas are general in location and have some overlap into adjoining areas.
Image courtesy of Nonicknamephoto at FreeDigitalPhotos.net