This question had crossed most Sellers' minds at least once or twice in the decision-making process when thinking about selling their homes. Whether it's selling their first home or their 6th house. Now, know that I am a real estate agent and the reasons I share may sometimes sound biased but have an open heart to receive the information below. It is written only after I know what it truly takes to sell a home. Now, I can say, I got that T-shirt, been there and done that.
It is not to deter any Seller who may want to consider this option. But here are some things to consider when selling your Home For Sale By Owner.
Bottom line
When you are ready to put your home on the market, your home is no longer "your home". It now becomes a property and inventory in the marketplace. However, I do understand "in that home, memories are made". For that reason, it may not be as easy for you to disengage your heart from your mind in looking at this solely from a business standpoint. Here is how your real estate agent can help you focus.
In business, it is ALL about the BOTTOM LINE. There are several statistics show when utilizing the services of a real estate agent can sell your home faster and net you more. In fact, on average, it should net you 16% more (estimate). Sellers are concerned about Realtors' fees, but after paying the realtors' fees, you should still come out ahead than you would doing it yourself.
Negotiations & Probing Questions
Because this is an emotional process for you, you should always use a third-party negotiator to negotiate your contract. You could be strong and get into hard core negotiations to save a few bucks but this process can be draining if you have tough buyers. Buyers in any economy would not want to pay more than he/she has to. Worst still, if the buyers are represented while you are not, negotiating may seem one-sided.
Here in Texas, we are a non-disclosure state. This means sales prices are not made public unless you have access to the Realtor MLS system. We have used this as a guide with SOLD prices published in them. As a seller, you would at most know how much your neighbors listed their homes for sale through Internet sites such as Trulia, Zillow, etc. but you would not have accurate information. You do not even know what is the average sellers before you get in terms of sold price versus list price. Zillow has NOT been accurate information for North Texas.
Information is power to the one who has more.
During a negotiation, agents gather information to get ready for a negotiation. When you start "talking", you gather alot of voluntary information that you could use for your negotiation. A good negotiator has already gather so much information by asking probing questions, yet the average buyer does not even know he/she has volunteered that information for the negotiation.
Negotiation is a honed skill. The more you practise, the better you get at it. When selling your home, if you would agree with me, it's not the time you want to practise. You pretty much want to make sure You're right.
Contingencies
Even if you know that the sale of your home is a business transaction, it's about the bottom line (ie how much you net) and you are an expert negotiator, real estate contracts are written with many contingencies along the way. Contingencies - in layman terms are called weasel clauses to let Buyers get out of the contract should things go wrong. Most contingencies are to protect the buyers from losing their earnest monies. In order to play fair, Sellers curb the contingencies to make sure they are not out of the ordinary and reasonably to expect from the buyers.
Here in Texas, we have our Option period where the Buyers pay some monies to purchase a time period to consider and to inspect the property. The option fee purchased them an unrestricted right to terminate the contract during which the Sellers cannot accept another offer. If you are not familiar with this process, you would not know how much is norm to expect to charge for how long. We have an industry expected amount for earnest monies also. If too little, the buyers have no fear of losing it and if too much, it might scare the buyers away altogether.
We also have Buyer needing to sell a home Contingency, we have buyer financing approval contingency, we have a property approval contingency, we have a title objection, survey objection and HOA objection contingencies. We have an interest rate cap objection, we have short sale addendums, we have many other forms that realtors use to protect both parties to the transaction.
Most buyers use Realtors because their fees are paid by the Sellers (normally). To the buyers, it's almost a non-issue to consider. Buyers represented by agents are now geared up and ready for this showdown.
How about the Seller who may consider doing this his/ her own?
Are you ready to take on the challenge on your own?
Here is also another reason how an agent to watch your back.
Convenience
Okay now. Even if you are a sophisticated seller and you are truly an experienced seller. The next question is: Do you want to do it all or hire a professional to take care of the nitty-gritty of the real estate transaction for you? Would you see the VALUE of not having to worry about the transaction but instead focus on where you want to go?
Many homeowners hire house cleaners to clean their houses and landscapers to mow their yards. You could do it yourself but you rather spend your time doing something else. In other words, you pay for convenience. You let someone else worry about the sale of your home.
Most of the time, selling a home is a stressful process. Thinking about where to go next already require alot of time, effort, energy and emotions to ponder. Even after you receive a contract, it is time to pack. There are just many parts to a "move" and the actual selling process is just a part of the equation. It is not the end-all.
Here is how the agent can take that stress away from you to let you focus on where you should go next.
I hope I have written this article with you having an objective and open heart to receive this information. Prior to getting into real estate, I never knew how much it takes to get a transaction closed. It is more than decluttering, staging, getting the contract, putting a yard in the sign. It requires extensive marketing knowledge about the neighborhood and years of home selling experience to know what to protect in a real estate transaction. It is also about handing off the process to a qualified professional.
Because in the end, all you care about is your home sold.
Related Articles:
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY).
Should You For Sale By Owner?
This is not a rant, but rather a lesson learnt, obviously very much needed to share with all agents - especially when you plan to represent your clients in a specific neighborhood, be it if you are a listing or a buyer's agent.
Over the weekend, I showed a property in a Frisco TX neighborhood. The agent called for a feedback Monday afternoon. There's 2 things I learnt from the conversation:
(1) The buyer is ALWAYS right.
The listing agent went on and on the phone the whole time explaining to me what are the upgrades in the house. No question about that. However, in a home, whether it is a $1,000 custom made chandelier, or a $100 light bought from Home Depot, Buyers still expect lighting fixtures around the house.
The kitchen is installed with granite counter tops, stainless steel appliances and just tastefully done. But would you expect to sell the house without a proper kitchen? The conversation with this particular listing agent sounded as if these were "bonuses" to the house that you otherwise would not expect.
(2) Listing Agents must know the inventory in the neighborhood.
This neighborhood has high foreclosure inventory. Builders decided NOT to build in this neighborhood temporarily. The foreclosures are not rare-occasions. The only ones that are selling are foreclosures.
I explained that we acknowledged that this home is offered by a regular seller and he would never want to see an offer coming in with a foreclosure pricing. (Note that in presenting offers, Buyers seem to go much lower just to see how low the banks will go).
The question that appalled me in my 15 minute conversation was: How many foreclosures are there in the neighborhood?
I couldn't believed this question and my filters didn't work that afternoon. This is what I blurted out of my mouth:
"You are the listing agent for this house in this community. You should know your neighborhood invntory. I wont tell you how many foreclosure inventories are there because you can find it out on your own. I'm just going to say that there are a few too many".
Well, those that know me know that I'm not a rude, or straight in your face person. But I could sense some anger/ resentment/ disappointment in my tone because I was clearly upset that this agent knows nothing about selling homes in this neighborhood. I looked up his phone number. Sure enough, it was listed with a different area code, his office, some 45 minutes away.
What can I say? This home has been sitting on the market for over 150 days. It is clearly overpriced just with the market conditions and the listing agent is trying to get offers from any showing agents with no very good persuasion skills.
So, here's how you can become the best agent for your sellers:
(1) Set yourself up on property alerts for that neighborhood.
(2) Know every movement in the neighborhood.
(3) Make sure you stay on top of things by evaluating/ reviewing pricing at least every 2 weeks.
Until then, you havent deserve to earn your paycheck from your sellers. Be either very good or don't play. Don't ever let your Sellers know more or sooner than you do in his/ her neighborhood.
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Perfecting Your Inventory Knowledge in Your Neighborhoods
I never knew the effects of success until I found myself absorbing in it. I've always been a perfectionist and I've always challenged to do better than myself. I've never competed with others, just with me but somehow, raising the bar to soar higher had very much its own horrific side effects.
I talked about how I never quite believed in a BALANCED life because I felt that was life at mediocrity. I felt that philosophy was never good enough for me because I'd be holding myself back in equilibrium.
Coincidentally, I'm living a whacked out life right now with all things just seems out of balance. So, I must say I learnt first hand what it means needing to find a balance despite my challenges of understanding needing to be the best at what I do.
The Best for God, The Best Wife for my Husband, The Best Mother for my son, The Best Realtor for my clients, The Best Cleaner for my Home, The Best Blogger for my subscribers. I just have lots to live up to and I truly dont know how to be balanced.
If I knew if I was going to be a stay-at-home mom, my house would be squeeky clean. If I was going to be a rose enthusiast, my garden would be filled with 88 rose bushes and I would get up at 5am every Saturday morning to spray. If I was going to be a Realtor, I'm just going to set out to just be the best. Instant communication and making my clients feel extremely valued and my presence would make a difference.
People find motivation in becoming successful, inspired and motivated to stay the course. On the other hand, my struggle is to do less of these things.
I never understood how people could work so much, that in the end, they find themselves in a hollow relationship with their family. I've always thought it was the financial success they were after. I was WRONG. I would never look at a Successful person in the same light again. Until I walked the path of Becoming the Best at Whatever I do, I thought they had all done it for money. WRONG.
There is something about leaders wanting to push the envelope. Wanting to see how far they can go. Wanting to see what they could do with their God-given talents. So, they try to excel in everything they do. I, for one belong to this category and monetary success has nothing to do with the intended motivation, although it is a rewarding by-product of the success.
In the bible, it said that we cannot serve both God and money and I took the context "money" literally. I saw people who strived for success are people who longed for materialism. I excluded myself from that group. Yet, I found myself in this same place, back to this scripture. I know I cannot serve 2 masters and I'm still finding it a struggle to understand this concept.
I do believe I'm serving God through my business. Hence, I put my best foot forward every single day. But my family life may have suffered along the way. God first, my husband second, my son third. Sometimes, I'm torn about this very concept. Knowing that I'm called to serve Him, that makes His works first. I guess that's where I find it confusing to draw the line between people and God.
I begin my week here on Active Rain with my God First posts, written every Sunday once a week. My promise to you is that the messages I share will be day-to-day related, often times related to real estate. If these topics are important to you also, I'd love for you to subscribe to my blog.
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY).
Life could crumble if you are too good at something. They said Balance is Everything.
My Realtor friend, Janna Rankin of Coeur d Alene ID shared a beautiful short sale success story on her blog recently. She helped her clients tirelessly fight through some challenging times with the bank. But in the end, when the short sale was approved and the sale was successfully closed and funded, Janna mentioned that she didn't find a cure for cancer that day, or pulled someone out of a burning building. But to these frazzled homeowners, she was a hero. A hero because she found a solution to their never ending nightmare. A hero because after fighting for so long (with their lender), they finally found someone who listened and helped.
If I never worked a short sale selling side, I thought a buyer's agent role in a short sale process was challenging. So many times, I heard that buyer's agents deter their clients from showing short sales because the truth is that, the sale may not be approved. In the end, the buyer waited all these times only to NOT have a house to call their own. That is difficult. And no buyer's agent wants to constantly calm an impatient buyer - "Have we heard back yet?" I'm sorry Buyer's agent. It's not about you and it's not about me. It's about helping the seller get out of a financial calamity while your client purchase a property lower than the fair market value.
If I never worked a short sale selling side, I never knew the mountainous side of paperwork that is involved. The paperwork nightmare begins on Day 1 when the listing is taken. Don't forget, this is still a normal sale. Hence, the short sale selling agent would still need to actively market the property. However, it is a race against time. Like any other sale, we don't know when the buyer would show up with an offer in hand so the seller can begin the approval process. Until then, some banks wont even talk about a resolution. By the 3rd or 4th month of non-payment, the foreclosure notice is sent out. The pressure is really on by then. I'm a highly organized person in nature. Hence, it's my nature to document my transactions - especially with short sale transactions. I have a escrow checklist. But that still doesn't ease the pressure of needing to get the short sale approved before foreclosure proceedings takes place.
If I never worked a short sale selling side, I never knew how much time I had to spend on the phone. Time spent to check on status, time spent to verify that documents have been received, time spent just to reach the right person. I've heard of every listening music tone there is! Some I like as background music, some I dont.
If I never worked a short sale selling side, I didn't realize how much more REAL work is involved when compared to working a regular sale. Yes, I actually have to work this time. So, go figure. Then, only to find that lenders try to stop bleeding from ALL sides (try to get sellers to foot a small bill, the buyer to pay a little more and the agents to reduce their paychecks).
Serious dedication is needed to work on the short sale selling side. No question about that. But, those of us to have a heart to serve the communities we live in would do that in a heart beat, for all the reasons Janna talked about. If we didn't love our people, our clients, we would never venture into unchartered territories to potentially find that we may earn less, work more or worse yet - find our clients be foreclosed upon simply because the numbers may not have worked for the lender.
Yes, in the business world, it's all about the numbers. That's where we the agents come as a bridge between numbers and real people, with real problems that they didn't want to be in in the first place.
Ahhhhhhh ------ It may seem that I think too highly of myself (ourselves) as heroes to our short sale selling transaction. But because I take pride in helping sellers do that, even if it is pride for some to think, so be it. I (We) know our hearts and I (we) will always help. That's what we are here for.
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Heroes Come in ALL Shapes, Forms & Sizes. Yes, Realtors too!
Sellers are often confused and mis-informed during a short sale process. This article is in hopes that the myths are debunked.
In a short sale transaction, the Seller owes more than he/she can sell the property for. For whatever reason, the seller may not have enough money to break even on the transaction - whether it is a decline in property value, income loss or short of finances to pay the cost of selling the property.
When a real estate broker is hired to put the property on the market, the broker signs a listing agreement with the seller. The seller is still the seller, and a responsible party to the transaction. The seller did not sign away the property or ownership rights to the lender. The seller still has legal responsibilities to perform on the contract when the buyer purchases the property.
The seller's lender role in this transaction is only to approve the "short" amount. Hence, "short sale" approval. The property is NOT handed off to the lender like most sellers think. The seller is still the legal owner of the property.
When a short sale is approved, the seller may have additional tasks to fulfill in the contract. All these depends on how the contract was accepted by the Seller. The seller signs legal documents to transfer title to the new buyer. The bank does not. The seller still shows up at the title company.
The seller may have to bring additional funds to the closing, the seller may sign a promissory note for the "short" amount or the seller may just walk away. The outcome depends on the negotiation of the short sale.
More often than not, as soon as the seller signs authorization for the real estate broker to speak/ deal on behalf of the seller, the seller thinks that his/ her role is handed off to the broker. Not the case.
Related Articles:
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All contents are original. Consider subscribing to my blog for more real estate commentaries.
Subscribe via Email if you are not an Active Rain member here.
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com
Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.
Copyright © 2009 by Loreena Yeo (3:16 team
REALTY)
Originally Posted on
Short Sale Seller Myths Debunked
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Cant you tell - I love what I do! I am the catalyst to enrich the quality of lives of individuals I serve, that otherwise without my presence would not, or could not do. I work on some serious stuff
The areas that I serve are the north sububs of the Dallas metroplex, (but not limited to) include Frisco, Plano, Little Elm, McKinney, Allen, Richardson, North Dallas, East Dallas, Dallas M-Streets, Dallas White Rock Lake Areas, The Colony, Celina, Prosper, Flower Mound, Lewisville, Denton, Carrollton, Farmers Branch, Irving, Valley Ranch, Coppell, Las Colinas, Arlington and Mansfield.
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Guide to home buying, new construction, foreclosures here.
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Well, I do feel that there is no need to talk about how proficient in real estate I think I am or even how I great I think I am as a real estate agent. I want to let my past clients speak for me. Better yet, I want to let YOU decide for yourself what I am.
I'd like to share with you practical examples of what you can expect that I can bring to the table during your real estate transaction. My years of experience in the business include:
NEW HOME CONSTRUCTION - Many buyers do not feel that there is a necessity in working with a real estate agent that is on "their side" to look out for their best interest when dealing with home builders. There are more benefits, if you find a proficient agent to work with. I can help set your expectations and assist you in ensuring the home building process go smoothly. Since the Frisco, McKinney, Allen, Little Elm, Prosper and Celina TX real estate markets are booming with new home construction, you might want to consider working with an agent who understands this entirely different beast. Also, with the builders facing the down turn of the economy (and some up to foreclosures), it is important to have a seasoned agent to walk you through this emotional process. Read also, The Value Your Agent Can Bring To Your New Home Construction Process.
NEGOTIATION - My experience with sales and negotiation began at a tender age of 12. By 15, I was making enough commission to stock away for my college education. I am experienced with the emotional process about negotiations. What I always strive to do though is to find a win-win situation for all parties involved. Ultimately, I understand that Sellers want to sell and Buyers want to buy. There is always more to negotiate than to price. Every transaction is different and should be handled uniquely. Read also, Negotiating Across Cultures to see how my negotiation experience can assist in your transaction should it be required.
MULTIPLE OFFER SITUATIONS - Yes, it still happens in this Buyer's market here in the greater Dallas real estate market. You need a seasoned agent who is not afraid to go beyond the "regular" presentation of offers, one who will work very hard to help you win your contracts. Experienced in both buying and selling for multiple offer situations. If you want to know how well the greater Dallas TX real estate market place is doing despite what prime time news tell you, please read also, You Say The Market Is Down, I Say Multiple Offers.
SELLER REPRESENTATION -To date, I have sold every house I have listed except for three. The first, my own which my family and I decided to turn it a rental property instead. Second, the seller who was accepted to enter an education program here in the area decided that she did not need to move. Last, is a seller who is sick and can no longer able to conveniently show her house decided to take the property off the market. My selling record include 1-day on the market, 10 days on the market to many of them between 2-3 weeks despite what the media says it is doing. To further clarify, my seller clients did not feel that I gave their house away. With the credit crunch like we are facing today, a seasoned real estate agent who is also very aware about the mortgage side of the transaction is key to correctly picking out and/or interviewing the right buyer. It is your best interest to keep this sale transaction as full-proof as possible and I can help here. Ask me about my systematic market approach that most real estate don't use. This carefully-orchestrated home and marketing strategy WILL send you on your way to the closing table. A short summary of my success is in the table (For more details, contact me directly):
11914 Jereme Trail, Frisco TX 75035 (Plantation Resort)
1104 Ainsworth Dr, Anna TX 75409 (West Crossings)
4177 Republic Dr, Frisco TX 75035 (Heritage Lakes)
8906 Bretshire Dr, Dallas TX 75228 (East Dallas)
3rd and final Realtor® on the job.
Hilda Roznovsky
"For 2 long years I tried to sell my house without any success. Loreena sold fast and at a very fair price. If you are in her hand, you're in THE HANDS."
THIS SPACE RESERVED FOR YOUR HOME
Systematic Market Approach™ is a powerful advantage over your competition. It is also a marketing strategy that most Realtors ® do not use. It employs a combination of several proven techniques to effectively and successfully sell homes. The Systematic Market Approach™ is my unique proposal to sell your home and ultimately, to help you move onto the next chapter of your life. It is more than just a real estate sign in the yard, lock boxes, MLS exposure and the other normal stuff all real estate agents in town use.
The Systematic Market Approach™ consists of:
· A Complete Recommended List for Home Preparation including Staging. In order to obtain the results you want in the time frame satisfactory to you, staging is a requirement with the listing. I have a solid track record to prove this. Just ask!
· Lifestyle Marketing. Every home has a story and every home should be presented uniquely because of it. There is no cookie-cutter marketing plan in the Systematic Market Approach™. You ought to find out how lifestyle marketing will set you apart.
· Pricing. I perform a detailed comparison market analysis to obtain a suggested price range of which your property should sell for. This is an in depth market analysis that takes real research. It takes into consideration the available inventory on the market, pending contracts as well as sold market data. It compares features by features. At the end of the analysis, you will have a fairly accurate suggested price. · Web Exposure. I believe that the web is the most powerful marketing tool. Though chances are high that your home will be sold to a buyer who has a real estate agent representation, most buyers begin their search for their homes long before they work with an agent. Giving your listing the maximum exposure it deserves.
Your home deserves the best marketing plan with an unconditional guarantee. Let’s discuss this in further details at our listing appointment.
I want to point to you some special highlights of Seller blogs I had written in the past:
Secrets to Selling in 30 days
Seller's Myths: Try this first and I can always lower it later
Sellers Fail To See
The First 3 weeks May Be The Lifeline of Your Sale
To submit a no-obligation market analysis of your greater Dallas Frisco, TX property, please visit Value My Dallas Frisco Home.
BUYER REPRESENTATION - Understanding what you want and where to look is key to saving you time, energy and money when buying real estate. I primarily work in the Frisco, Dallas, Richardson, McKinney, Allen, Prosper, Celina, Little Elm, The Colony (the northern suburbs of the greater Dallas metroplex) although my vast real estate experiences also include Flower Mound, Coppell, Irving, Las Colinas, Valley Ranch, Dallas M-Streets, Dallas White Rock Lake, Arlington, etc. Here are a few blogs that I shared about issues that every buyer considers while making an offer to purchase:
More Than Price per Square Foot
Myths about Tax Assessments versus Market Values
Move Up Buyers Take Advantage of the Market Situation
For access to ALL available properties for sale in the Dallas metroplex, please visit my website. Or better yet, set up a no-obligation, no follow-up phone call (unless you make the first contact) profile and your home search criteria. When the criterias meet your needs, you will receive an email alert with full property information. Create your Sign-In now.
FIRST TIME HOME BUYERS - I have served many, many first time home buyers during my career. Many of them need clear understanding as to what they are doing and what to expect in home ownership. Depending on how much each client understands about the home buying process and the responsibilities of homeownership, I counsel each client uniquely to his/her situation. I wrote several blogs about Homeownership, many of which are geared towards first-time home buyers. Let me caution you first that some are controversial but ALL of them are down-to-earth advice coming from the heart of a financially-savvy real estate agent ie. me. You might find these articles interesting:
Down-To-Earth Home Buying Tips
The Real Hard Truth about Homeownership
The True Cost of Homeownership
Home Purchase as a Forced Savings
Is Home Ownership on Your Horizon?
Unconventional Advice for Newly Weds
RELOCATION - The greater Dallas metroplex remains one of the most best value places to live in the country. In addition, the standard of living is very affordable and in line with inflation. I serve many relocation clients that come from the East, West and other large metropolitan cities around the country. Real estate expectations (what you can get for your money) are not the same. Relocation buyers have different needs. Also, they might need to make a decision quickly. Hence, working with an agent who know the area like the back of her hands is important. In addition, my quick skill of knowing what each client is looking for in a house helps make this transition into the greater Dallas area a pleasant and peaceful one. Read also, What Can You Get For Your Money.
FORECLOSURE & SHORT SALES - I serve a large number of buyer representations for foreclosure or short sales properties in this area. Though this process is very similar to the "regular" buying process, it is not completely the same. There are many more documents and paperwork to sign thus it can be confusing to a home buyer who has not have too many experiences with purchasing these type properties. My duties also include setting expectations so that buyers of foreclosure or short sale properties may understand the type of transaction they will go through. Understand that not all foreclosure or short sale properties is the answer of a best real estate deal out there.
Read also, In Search of a Foreclosure Deal.
Business Decisions of Short Sales & Foreclosures Create Artificial Real Estate Market Values
PROFICIENT IN UNDERSTANDING REAL ESTATE CONTRACTS - It is important to work with a real estate agent who knows in "ins" and "outs" of a real estate contract. I am a real estate broker who has undergone vigorous training and education to understand real estate contracts and the correct "to-dos" in real estate transactions. I also align myself with experienced real estate attorneys and other real estate brokers that will be able to assist when necessary. Proficiency is a honed skill that not every agent possess. It takes time, years of training and experience plus education to achieve.
BULLETPROOF TRANSACTIONS - Once you have an executed contract to purchase or sell (depending on which side you are on), it still does not mean that you will close and fund on the property. There are many parts to the puzzle before you can reach your ultimate destination. This is where a seasoned real estate agent's experience, systems, checks and balances are worth. When you interview an agent, ask to see the systems, checklists and organization in adequately handling the closing process. Your "Bulletproofing" your transaction is by selecting an agent who is ready to close on the property from Day Zero.
REAL ESTATE INVESTMENTS - If you purchase real estate investments as an alternative solution to your retirement or diversified investments, I'd like to extend my expertise to you and to tap into my real "investor" knowledge. Personally a landlord myself, I understand the concept of minimizing risks while maximizing profits. Due to my analytical background as a structural engineer, analyzing the investment potential of a property is what I am naturally good at. As much as I can identify a profitable real estate investment versus not, I will also guide you through the process of "readiness" and if you are adequately ready for real estate investments. I have developed my very own network of honest contractors and other service providers that earned myself a position as a valuable resource in the investor community.
If this is not sufficient to know if I am the right agent for your real estate transaction, find out more about me on a personal level here. Learn more About Me and My Company, 3:16 team REALTY.
Note: All contents are original. Consider subscribing to my blog for fresh business ideas, often creative and unique. It is my intentions to bring you effective blog contents that will could make you feel that it was worth your time to subscribe.
VALUE-Focused, NEGOTIATION-Focused, RESOURCE-Focused, RESULTS-Focused.
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Home Buying Tips | Home Selling Tips | Homeownership Tips |
Todd Lehmann
"We needed to sell our house first, before we could purchase another. Tough task in this current housing market. And even in a Buyers market, both are a challenge. All I can say is, WoW! You far exceeded our expectations on both. Your dedication, knowledge, patience and professionalism is second to none. During the time when we were working with you, you were blessed with a new baby. Honestly, I was thrilled for and your husband, but a little concerned you may not be able to maintain your top notch performance in this highly completive housing market. Well, my concerns quickly faded as I realized, you had more energy than I did! While never compromising the health of your baby, you were always accessible, even if that meant talking to us from your hospital room. We joked all along about signing contracts right up until delivery and well, we did! You are truly committed to your clients. We got a fair price for the sell and found the "perfect" home for our family. You went above and beyond in my book. THANK YOU!!!! The happy memories we make in our new home will always include you and your family!"
"Loreena, you were so helpful in your advice on how to prepare and stage our home. We never dreamed it would sell the first weekend! How can we thank you enough! You're wonderful. You under-promised and over-delivered! You did what you said you would do and then, went beyond. You were out of the country our first week but we could still reach you daily. Thank you!"
Tom & Debbie Milner
Before the tech-sector crash in 2000, I was living in Plano. As you know, this area went from very affluent to on of the biggest foreclosure areas in the US. Fortunately, I survived it. Later, but while the affects of the crash were still very real I needed to move. I had contacted several realtors and several made less than a half-hearted effort to do anything except try to get exclusivity. This is when I found out that Loreena was doing real estate, so I contacted her and made an appointment.
When she arrived for our appointment, we went through the normal preliminary procedures and all was fine. Then she surprised us. She had already done most of the work and only needed to take a few pictures of the inside and determine the price that we would be comfortable asking. She also spent a great deal of time explaining to us how the whole sales process work and what we could expect. All was correct and explained to us in a way that was very pleasant, easy to understand with time for questions and with no condescension at all We were so impressed that we offered exclusivity.
About a week later, we moved to the east coast and left her in charge of the house. She made sure that all was being taken care of as we had arranged, with contractors. Then she went to work and very soon afterwards she had a buyer for us with many possibilities in their favor she was able to keep them interested in our house and they passes on all of the others. Their realtor was well seasoned and strong willed, but she held her ground and delivered a good price, and a painless sale. If you ask me, there is no better realtor than Loreena, because she puts her heart into the sale of the property and you can sense it and her sincerity.
Eric & Tomoko Yoshiyama-Quere
"Loreena is a highly educated Real Estate Broker in Frisco, TX. She ensures her clients are well represented and well informed throughout the Real Estate transaction. Loreena's has great enthusiasm and passion for Real Estate. If you are looking for a home to buy or sell in the surrounding area, I strongly recommend Loreena Yeo."
John Cannata
Contact me directly for more references.
My goals here on Active Rain are two-folds. The first and foremost is to serve my real estate clients and consumers by providing high quality and relevant local content, especially for the North Texas, greater Frisco & Dallas real estate markets. My other goal is to serve other real estate professionals in my area as well as those here on Active Rain.
I have spent some time here as an ardent and dedicated blogger. Once a while, I share some tips and tricks to enhance the blogging experience here. You can read more of my Dedicated Active Rain Tips and Tricks here. Blogging Active Rain.
I also have a heart to educate real estate rookies here on Active Rain. I remembered what it was like to be a rookie. There are many blogs that I wrote to share my rookie year experiences with you. You may read them here. I will be adding more soon. Check them out when you have time. Rookie Real Estate. (I need to spend some time this Winter to work on some Active Rain house-keeping).
Other realtor success tips here.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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