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Duane Murphy

You get what you pay for!

Cut-Rate Listing Commissions

With the advent of the web, a lot of agents are offering "cut-rate" commissions. Most of the time, lower commissions are tied to a lower level of service. If all you want is to be listed with the Multiple Listing Service and a sign in the front yard, then a cut-rate commission may be right for you. If you want an agent who will actively promote your property to other agents and spend money on advertising, then you probably are not going to get that level of service with a reduced commission.

At other times, the lower commissions are offered when you agree to tie in to other services offered by the broker, such as agreeing to use a specific lender, escrow, settlement, or title company. The broker (not the agent) will probably have some type of ownership or profit participation in those businesses. The problem with agreeing to tie in to these other companies is that they do not have to be as competitive in pricing their products or services.

Another common practice when you see an ad for a reduced commission is that the compensation is lowered when you agree to buy your next home through the same agent or broker. Usually, the reduced commission is not really being offered on the sale of your existing home but on the purchase of your next one. The ads are usually unclear on this.

As a result, when you see an offer for a lower commission, you should analyze what you are giving up by accepting such an offer. It probably will not be readily apparent in the advertisement. Be sure to ask lots of questions.

Motto of this blog:

Be sure to ask many questions as cheaper is not always better. Often times there is a reason why they are priced the way they are.

Let's talk real estate!

Email me at dmurphy@coldwellhomes.com

Visit me on the web at www.duanemurphy.com

Duane Murphy

CB-TREG INC.

Which Realtor do you choose? It's not always about price!

Which Realtor do you choose?

If you're like many people, you pick Realtor number three. This is an agent who seems willing to listen to your input and work with you. This is an agent that cares about putting the most money in your pocket. This is an agent that is willing to start out at your price and if you need to drop the price later, you can do that easily, right? After all, everyone else does it!

The truth is that you may have just met an agent engaging in a questionable sales practice called "buying a listing." He "bought" the listing by suggesting you might be able to get a higher sales price than the other agents recommended. Most likely, he is quite doubtful that your home will actually sell at that price. The intention from the beginning is to eventually talk you into lowering the price.

Why do agents "buy" listings? There are basically two reasons. A well-meaning and hard working agent can feel pressure from a homeowner who has an inflated perception of his home's value. On the other hand, there are some agents who engage in this sales practice routinely.

If you would like to see what your market value is in today's market call today!

Go to www.duanemurphy.com to request your market analysis.

Duane Murphy

CB-TREG INC.

email dmurphy@coldwellhomes.com

You found the home.... now what should you offer?

Determining Your Offer Price

When you prepare an offer to purchase a home, you already know the seller's asking price. But what price are you going to offer and how do you come up with that figure?

Determining your offer price is a three-step process. First, you look at recent sales of similar properties to come up with a price range. Then, you analyze additional data, such as the condition of the home, improvements made to the property, current market conditions, and the circumstances of the seller. This will help you settle on a price you think would be fair to pay for the home. Finally, depending on your negotiating style, you adjust your "fair" price and come up with what you want to put in your offer.

Comparable Sales

The first step in determining the price you are willing to offer is to look at the recent sales of similar homes. These are called "comparable sales." Comparable sales are recent sales of homes that compare closely to the one you are looking to purchase. Specifically, you want to compare prices of homes that are similar in square footage, number of bedrooms and bathrooms, garage space, lot size, and type of construction.

If the home you are interested in is part of a tract of homes, then you will most likely find some exact model matches to compare against one another.

There are three main sources of information on comparable sales, all of which are easily accessed by a real estate agent. It is somewhat more difficult for the general public to access this data, and in some cases impossible. Two of the most obvious information sources are the public record and the Multiple Listing Service.

This is just one of the many things to consider when making an offer on a home. For other great tips or to find out what is for sale in your area go to www.duanemurphy.com

Thanks!

Duane Murphy

Your Appleton Area Real Estate Expert

Lighting, Fragrances, Pet Control and More for When your Selling

Lighting, Fragrances, Pet Control and More

Lighting

When you know someone is coming by to tour your home, turn on all the indoor and outdoor lights - even during the day. At night, a lit house gives a "homey" impression when viewed from the street. During the daytime, turning on the lights prevents harsh shadows from sunlight and it brightens up any dim areas. Your house looks more homey and cheerful with the lights on.

Fragrances

Do not use scented sprays to prepare for visitors. It is too obvious and many people find the smells of those sprays offensive, not to mention that some may be allergic. If you want to have a pleasant aroma in your house, have a potpourri pot or something natural. Or turn on a stove burner for a moment and put a drop of vanilla extract on it. It will smell like you have been cooking.

Pet Control

If you have pets, make sure your listing agent puts a notice with your listing in the multiple listing service. The last thing you want is to have your pet running out the front door and getting lost. If you know someone is coming, it would be best to try to take the pets with you while the homebuyers tour your home. If you cannot do that, It is best to keep dogs in a penned area in the back yard. Try to keep indoor cats in a specific room when you expect visitors, and put a sign on the door. Most of the time, an indoor cat will hide when buyers come to view your property, but they may panic and try to escape.

The Kitchen Trash

Especially if your kitchen trash can does not have a lid, make sure you empty it every time someone comes to look at your home - even if your trash can is kept under the kitchen sink. Remember that you want to send a positive image about every aspect of your home. Kitchen trash does not send a positive message. You may go through more plastic bags than usual, but it will be worth it.

For other great tips or to get a market analysis completed on your home go to www.duanemurphy.com

Purchasing Appleton Real Estate

Purchasing Appleton real estate is a great investment whether you are purchasing your first home, second home or are a seasoned investor. You are invited to visit this site often to view Appleton homes for sale, read home buying advice, get information about local schools, and the Appleton community. I also have information on the $8000.00 tax credit. Just click on the link to the left for all the info you may need.

Selling your home is an important decision. It is important that the sale of your home is handled with care and professionalism. I offer a FREE in-home sellers consultation. This covers staging, must-do's, pricing, and more! Find out why I sell the homes that I list!!! For more information about the selling process, please visit the home selling advice section.

If you are relocating to the Appleton area and need to sell your current home or are looking to move outside the area and need to purchase a home I have many trusted Realtors that I can refer you to that will meet all of your needs. Just let me know what area you are moving to and I will take care of the rest. If you are moving into the area send me an email and I can send you a welcome packet that will show you everything the Fox Valley has to offer.

Feel free to further explore this site for FREE real estate reports, and get your real estate questions answered in the real estate Q & A section. Also serving, but not limited to the following communities: Kimberly, Menasha, Neenah, Oshkosh, Seymour, Darboy, Kaukauna, Greenville, New London, Sherwood, Freedom, DePere, Grand Chute, Green Bay and Fond du Lac. Including the counties of: Outagamie, Brown, Winnebago, Calumet and Fond du Lac.

Don't forget to go to www.duanemurphy.com for all of the latest listings and to become a VIP buyer!