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So, let’s start with the basics: What is a real estate broker vs. an agent? To answer that, we’ll take a deep dive into the differences between the many types of real estate professionals, including a real estate agent and a real estate broker. Summary What is a real estate agent? What does a real estate agent do?
More than half of home buyers (52%) negotiated with the seller, with 94% of those who did achieving success. About 34% of buyers paid below the asking price in 2024—up from 27% in 2022, when the market was more favorable to sellers. Clever’s network spans 15,000 agents across all 50 states.
home sellers received four or more offers on their home in 2021, according to Zillow’s latest consumer housing trends report. Typical sellers received two offers, which is the same as the past three years. Most sellers (74%) received at least one offer on their property that was all cash or did not include a financing contingency.
With less competition, some buyers are backing out during the inspection period, hoping for a better deal. Economic uncertainty : Concerns about tariffs , layoffs, and federal policy changes are making buyers and sometimes sellers hesitate. These markets remain seller-friendly, with low inventory and limited buyer alternatives.
31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Finding an agent Like 43% of homebuyers , I began my search online, as I worked to get a sense for what the inventory in my preferred areas and in my price range looked like. Funny you should ask.
Many sellers have returned to offering concessions and dropping prices to entice buyers. The “same old listing presentation” and tired marketing tactics aren’t cutting it for agents looking to win listings in today’s competitive and tight market. Depending on the age and condition of the carpet, sellers may not need to rip it up.
A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.
The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.
Redfin agents say would-be homebuyers and sellers in the Palisades and Altadena have adopted a wait-and-see approach. Some of them were looking before the fires, and some started looking after, said Sam Najarian, a Redfin Premier Agent who works primarily in Altadena and Pasadena. Im now working with a mix of people.
People often confuse the home appraisal with the home inspection. Inspections, on the other hand, are designed to assess the condition of the home, and they’re 100% optional for the buyer. Are you considering skipping the home inspection? A home inspection ensures you have the full picture regarding a property’s costs and value.
The analysis centers on in-depth interviews conducted nationwide with numerous Redfin agents regarding the reactions of sellers and buyers to the changes. The average buyer’s agent commission, according to a Redfin report from July, was 2.55%, a little less than it was prior to the settlement’s announcement.
A home inspection hasn’t yielded any problems, so nothing is standing in the way of closing, right? This will help you set a realistic price and manage your sellers’ expectations. For appraisals that are low, a seller may want to get a second appraisal. The negotiations were successful, and a deal has been reached.
After 29 years and thousands of listing presentations, I have found that sellers, more than ever, want an agent who has solid negotiation chops and who is willing to use them on their behalf. If you want a positive outcome, its your responsibility to manage not only your emotions but the emotions of the other agent and your client.
Real estate agents often make the mistake of believing their clients will remember them forever but they dont. Its up to us as agents to stay engaged and stay in contact with our clients. Content: Agents can include any combination of data and information. When you buy through our links, we may earn a commission.
” With the suburbs seeing record volume , agents and brokers like Harrison, who runs Compass’ operations in Westchester alongside her husband Zach, are counseling their clients on how to prevail in a fierce bidding war. Vickie Mox, an agent with RE/MAX Dallas Suburbs , covers the Collin County area, north of Dallas.
New Massachusetts Law Addresses Home Inspection Waivers: What Buyers and Sellers Should Know A new law passed by the Massachusetts Legislature will soon regulate buyers and sellers options around conducting a home inspection when purchasing a home. The second part of the statute also puts restrictions on the seller.
Interestingly, Redfin data showed waiving the inspection contingency and conducting a pre-inspection – meaning the buyer conducted an inspection before making an offer – had no significant impact on whether a prospective buyer wins a bidding war. Anything below list price, regardless of the terms, just can’t compete.”
While a real estate agent’s commission is one of the most expensive costs, it definitely isn’t the only one. From staging fees, home improvements, repairs and seller concessions, there are several hidden costs involved in the selling process. To attract potential buyers, sellers have to make sure their home is aesthetically pleasing.
Real estate agents in the leafy suburbs of Bergen County, New Jersey say the current housing market — with historically low inventory and record-high prices — is actually more challenging than the multiple offer chaos they sweated through during the pandemic. “At Altos considers any score above 30 to be a seller’s market.
The FHA should critically evaluate and simplify inspection criteria, review the inspection requirements for FHA appraisals, and modernize criteria wherever possible “to help reduce homebuying hurdles over non-essential, smaller home repair issues,” the authors wrote.
The new feature harnesses the capabilities of multimodal artificial intelligence to instantly analyze and summarize complex property documents, including inspection reports, appraisals and seller disclosures. It can also help agents clearly communicate their unique value and services to homebuyers, sellers and others.
We frustrate buyers, sellers, loan officers and, sometimes, real estate agents. Appraisers have been accused of being “speed bumps” in the lending process. In some ways, I can understand their. Read More.
Watch any of the glamorous pseudo-reality real estate shows on TV, and you might be tempted to become a part-time real estate agent. Most of the agents you see on TV wearing $1500 outfits work 80+ hours per week. Most of the agents in my office worked equally long hours. Most of the agents in my office worked equally long hours.
17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. Heading into Aug. which is no longer in effect.
Work with a real estate professional with MLS access In non-disclosure states, the role of real estate agents becomes even more crucial. Experienced agents have access to databases, networks, and resources that can help buyers gather information about recent sales in the area. Be patient and stay flexible as challenges arise.
Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. They repeat the mantra “Home buyers and sellers will always need a real estate agent.” So how can real estate agents be so cavalier about their job?
There is potential for agents to save time, according to Walt Baczkowski, CEO of SFAR. While AI won’t replace real estate agents, those who use it are already outcompeting those who don’t,” said James Rogers, co-founder and CEO of RealReports. Inventory is low, rates remain high, and lawsuits abound,” Gorman said.
Not to mention the current mortgage rates at decades-high levels as well as sellers who are locked in with pandemic low rates. Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. Sellers are even using this as a tool to attract buyers. It never will be.
For agents in New Hampshire , this week marks two months since PrimeMLS , the state’s multiple listing service , implemented the business practice changes outlined in the National Association of Realtors’ nationwide commission lawsuit settlement agreement. It is a seller decision, not an agent decision.”
Although the process for communicating and dispersing buyer agent compensation has shifted, the industry adapted calmly within a couple of weeks. Friction slows down sales While sellers have maintained the status quo, realtors have had to adapt quickly. Many who rarely answer phones are responding to calls, texts, and emails.
Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers. Have you ever had a friend buy or sell with another agent? That would be amazing, thank you so much!” Stay top of mind.
The truth is, sellers can have their pick right now, and if your offer isn’t just what they want, they could choose another buyer. But they’re also an extra hassle for sellers. Sellers can have contingencies, too. Sellers can include contingencies, too. Accepting a seller’s contingencies? The bottom line.
First, the pre-approval letter tells the seller that you are serious about buying a home and that you have a commitment from a reputable lender on how much it will lend to you. Another seller’s home may need repairs, and you put in your offer the need for a seller credit to pay for them. In an extremely competive market?
While Northwest Ohio ’s housing market has remained fairly strong in recent months, local real estate agents say things become a bit more complicated when you segment the market by price point. Agents attribute the varying market conditions to the current interest rate environment. and are spending a median of 56 days on the market.
Curbio , a provider of pre-sale home improvement services that requires payment at closing, will provide its “Build Your Own Estimate” mobile app to NAR members, which offers free repair estimates for home inspections upon the upload of a PDF document.
As a broker and real estate coach, I’m always surprised when new agents tell me they don’t want to use real estate scripts. These sellers were on the market with another agent before and could not sell. Usually, they’re inundated with agents calling them for the first few days after their listing expires.
In May 2022, the Florida Legislature introduced a new condominium safety law, which mandates more rigorous inspections and stronger financial reserves for HOAs. As a result, new condo listings are flooding the market in Florida as sellers try to unload their properties at a discount. It’s causing buyers to rethink their plans.”
Altos considers anything over 30 to be a seller’s market. Local agents attribute at least some of the market’s hotness to the inventory situation. Although rates may be keeping some sellers in their homes longer than they wanted, Stella said he is not seeing as great an impact on buyers as he is sellers.
Access to a hyper-local agent is more important now than ever. You can absolutely send this type of mailer to homeowners around a recently sold property that someone else sold — but make sure you adjust the language and ensure it’s clear you were not the listing agent. We negotiated to get the sellers the highest price possible.
Start with a home seller’s checklist to ensure you are organized and prepared. Here is a great net sheet by Stewart Title for sellers to calculate listing expenses. Here is a great net sheet by Stewart Title for sellers to calculate listing expenses. Really look into the neighborhood market activity.
By most standards, I’ve had a highly successful career in real estate — as a Keller Williams Mega Agent, Broker-Owner, and bestselling author. For the past 14 years, I’ve had the privilege of coaching some of the nation’s top-producing real estate agents. Now, the buyer wanted the agent to pay for the repairs. Shine your light!’
Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. This is sick, and I want it to end,” said Sharon Aubuchon, a RE/MAX Premier Realty agent in Prairie Village, Kansas a suburb of Kansas City. “It Kansas City, Missouri.
“Our momentum speaks to the massive need for a more reliable way for sellers of homes that need love.”. Sundae pairs sellers of distressed properties with potential buyers, claiming that homeowners can close in as little as 10 days or wait and choose to remain in the home for weeks after the sale.
we’re helping potential buyers make more informed decisions, while empowering agents and sellers to market their properties more effectively, and supporting a modern valuation process for both appraisers and lenders,” said Jeff Allen, president of CubiCasa. said Allen. caught up,” he said. Presented by: Rently.
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