From time to time I write about things that I think are relevant. If you have a real estate topic you want to hear about, please let me know.
There are agents in the real estate business that come off as having a ‘fast-talking, door-opening, let-me-try-and-sell-you-a-property’ approach to their work. Unfortunately they tarnish the industry for the other Realtors, like myself, who take a more ‘collaborative, professional and let-me-skillfully-assist-you-in-buying-the-right-house’ approach.
While these approaches may sound similar, they are entirely different. Don’t confuse them. One is ‘sales’ focused and the other is ‘help and consultative assistance’ focused. The ‘sales’ focus puts the agent’s needs ahead of the client, the ‘help and consultative’ approach puts the client’s needs first.
Sure we all have to make a living in this business, but there are different ways of going about it. I subscribe to the philosophy that you approach your work from a ‘help and consultative’ point of view, doing right by the client first, and the rest will follow.
If you prefer working with Realtors who use a ‘Consultative-Assistance Approach' who place the Buyer’s needs first, like myself, there are some things you may want to be aware of in terms of Do’s and Don’ts in this type of relationship, as follows:
About the Author: Chris Ewing is an accomplished BROKER ASSOCIATE / REALTOR® at RE/MAX METRO in St Petersburg, FL. He specializes in a consultative approach to his work and he expertly guides his clients through the process of successfully Buying and Selling local real estate. He has assisted many individuals, couples and families in buying and selling real estate in the Tampa Bay area. Contact Chris today for a free consultation about your specific real estate objectives. He can be reached at (727) 871-3300.
Summer 2016 Update | St. Pete Residential Real Estate Market and Tips For Success:
As we head into the Summer of 2016, the residential real estate market in St Petersburg and the Tampa Bay Area in general remains a very strong Seller's market. This means inventory of available homes is low and competition among Buyers is high. Even so, Buyers and Sellers alike can take the right steps to be successful in this market with their respective objectives. Consider the following:
In the market to buy? Here are some tips and keys to success if you are a Buyer:
#1 Put yourself in a position to MOVE FAST and make an offer quickly ahead of the rest of the pack of Buyers out there when you see the right property. This means if you are using financing, get pre-approved BEFORE you go see properties. Have your pre-approval ready to go for your REALTOR. If you are a cash buyer, have your 'proof of funds' letter ready to go for your REALTOR. Without out one or the other of these letters, you are not in a position to make an offer quickly on the 'right' property and may lose it to someone else who does have their letter from their lender or financial institution.
#2 Be ready to offer full price (or more in some cases) and keep your contingencies to a minimum in the offer. Getting the 'killer deal' on a property may not be possible in many situations. Just getting the property under contract is often enough of a deal in a Seller's market. Close as early as possible and make your offer as 'attractive and clean' to the Seller as possible.
#3 Expect multiple offers on the property in certain situations and very competitive bidding including 'Best and Final' requests from the Seller and Listing Agent.
#4 Excitement about the property is fine but don't get emotionally attached to the house during the offer process. Getting emotionally attached after closing though is fine! When you get to that point, congratulations, you have earned the right to start getting emotionally attached to your new property!
#5 Work with an experienced and skilled REALTOR who knows how to help you properly position yourself in the offer process and deal in a fast moving Seller's market and can expertly guide you through the entire transaction from getting it under contract to successful closing!
Considering Selling? Here are some thoughts, tips and keys to success if you are a potential Seller:
If you’ve been thinking about selling your property, NOW is the perfect time to capitalize! There is low inventory, strong demand and interest rates are still low as well. There are many pre-approved and cash buyers in the market right now. All optimal conditions for Sellers to command premiums on the sale of their property!
#1 If you are planning a move, plan your transition strategy before you put the house on the market! For example, are you staying in the area and simply down-sizing/right-sizing or upgrading, are you moving into a rental, buying another property, or are you moving out of the area altogether? Have a plan in place including your next residence secured or at least identified well before you list! Once under contract, the clock starts ticking for the amount of time you will have left in the current house and usually that is 45 days or less.
#2 Prep your house for the market by making small repairs where needed and ensuring the integrity of the major infrastructure areas in the house including (1) Roof (2) Electrical (3) Plumbing and (4) HVAC system (the 4 key areas of the Four Point Inspection which the Buyer will have inspected once under contract).
#3 Plan to de-clutter and de-personalize your house before you list on the market. Potential buyers prefer to see the house in a way that allows them to best envision how their life would look in the house. De-cluttering and de-personalizing greatly helps in this process and optimizes the appeal of the house! Consider using a temporary portable storage container in the driveway (PODS, etc.) or a storage locker as a place to store things from the house that you want to keep longer term.
#4 Select a REALTOR with sound expertise on the local market, including recent comparables, a well researched pricing recommendation and a comprehensive marketing plan for your house. Ask to see the plan the agent will use to market your home to attract the best offers in the least amount of time. Make sure there is a plan and that the agent has an array of marketing channels at their disposal to promote your property, not just the MLS!
Whether you are a Buyer or a Seller, please call me if you need a competent real estate professional to assist you further with your specific real estate objectives! - Chris Ewing
Considering buying a home with mortgage financing in the near future? The new Consumer Financial Protection Bureau (CFPB) rules that recently went into effect in October 2015 are now being implemented by the real estate industry and Buyers using financing are in the near term advised to allocate 45 - 60 days for closing. In some cases Buyers using financing can close in less than 45 days, but check with your lender. Sellers will also want to anticipate and plan for longer closing cycles for Buyers using mortgage financing. Questions? Please let me know. Whether you are buying or selling here in the Tampa Bay Area, I welcome the opportunity to assist you in navigating the new CFPB rules to a successful transaction!