About Henrico County, VA

One of my first time homeowners asked a really great question - How does a Realtor get paid? And another client, who had not purchased a home in quite a while, asked a similar question "Is a Realtor still paid by the seller? "

The majority of Realtor's work on commission. The rate of commission is determined, and agreed to in advance of a sale, or transaction, by the Realtor and their client. This should be a signed agreement so there is no confusion in the future!

Most Realtors are paid their commission by the seller's closing costs after the closing of a home. BUT, if a buyer of a home, and their buyer's agent, have agreed to pay their agent a certain commission, and the seller does not agree to meet that commission price, the buyer's closing costs may reflect the difference. The seller does not have the right to change the commission offered in the Multipe Listing Service (MLS), after an offer is made by a potential buyer.

Buyer's agents may work with For Sale by Owners (FSBO) in finding the right house for their client. In doing so many FSBO's may not pay a commission to an agent. This is when a buyer's agreement would kick in and the Realtor would be paid by the buyer's closing costs.

Realtors' are not allowed to be paid directly. Closing attorney's send all checks commission checks to the brokers, who in turn pays the agent.

People don't use libraries as a resaon to move into one county of another, but when you look at the Richmond Virginia area it may be something to consider!

Henrico County Libraries are amazing. The local government spent millions of dollars on new libraries that offer everything you would find at an upscale national book chain store.

Tuckahoe library offers a small cafe/coffee shop when you enter. Even though you can't take the food into the library with you, it is great to be able to bring a book out to the cafe and read!

New release books are not allowed to be "reserved" and instead are on a first come, first served basis. To give everyone an opportunity to read them soon, the normal 4 week borrowing time is cut in half for the new "book list" books.

From the drive up window, to the quiet only study room these libraries are truly state of the art! Offering 110 computers (two hour limits), wi fi and plenty of outlets, the number of people it can accomodate is impressive. You can reserve rooms for meetings, or attend book clubs. Young henricoans are not forgotten with their storytime schedule and the great librarians who are there to help find just the right books to read!

If you want to see what a library should be, come and visit a Henrico County Library today!

I am beginning to get calls from people who are thinking of putting their house on the market next year. Their question is usually " What should I do now?".

Call a Realtor today. There are two reasons for doing this:

• You can get opinions and suggestions on what needs to be done to get your house ready to sell.

Your Realtor should go through your house with a fine tooth comb. Talk to you about what you are planning on fixing, and make you aware of problems you may have overlooked.

• You can get an idea of what your home might sell for today. That gives you a good starting point, and with some people an eye opening experience. More than likely you will discover your home would sell today for less than you thought.
• You also get an idea of what your Realtor is going to expect from you to sell your house. A good Realtor will care enough to take time to give you good advice, create a to do list, and even contact contractors and others on your behalf to help you get the jobs completed. Often I even meet the contractors for the homeowner due to work or understanding what needs to be done.
• Your Realtor should bring all paper work that you will be signing so you can read them, ask questions, and be prepared when the time comes to list or purchase a home.
• You need to know what houses have been selling for, how many days have they been on the market, how many have been taken off the market without selling. What are the trends in your neighborhood? What does your Realtor see happening in the next six months that would change the price you are given today?

After getting all of this information you have several choices:

1. Stay where you are and don't do anything (Not a good idea!)
2. Start to get your house ready to sell! De-clutter, paint, fix things that are broken, and update items to add appeal to your home.

It may take time to get your home ready to show from both the inside and outside and you may wonder if the time and energy is worth it. But when your house sells it will all be worth the effort you put out!

When listing your home ask yourself one simple question - Do I want to list my house, or do I want to sell it?

Interviewing Realtor after Realtor until you find one that will list your house for the price you think it is worth will do several things:

• Frustrate you because you will not get an offer
• Frustrate you when the Realtor suggests lowering the price after months on the market
• Bring in the low ballers because your house has been on the market a long time.
• Keep you in your house instead of selling it!
  

As a fisherperson, I like to think of a fishing analogy when listing a home. When I go fishing I plan on catching a fish. I put the bait on my hook, and throw it into the water. More times than not it is that first cast that a fish will attack. Often I thrown in my bait and the fish scatter. The same thing happens with a house. Listing it at the right price brings in the buyers,and you sell.

Anyone can list a home, but rely on market statistics and current trends to sell one!

Now that you know what you are looking for in a home you need to ask yourself the next set of questions:

• How long will I live in this home?

Most people stay in their homes 5- 7 years before moving. If you think you may be moving again in 2 years or less it may be better to rent than buy a home.

There are many costs incurred with purchasing a home. If you plan on moving sooner than 2 years you probably will not recoup many of these costs making it a questionable decision to purchase a home now.

• What changes do you see in your life in the next 7 years?

Whatever you see yourself ,or your family, doing in 5-7 years think about what your home will need to have to allow those changes. Will schools be important to your family? Proximity to bus lines, hospitals, or airports?

• Have you looked at your financial future?

Sit down and think about your finances. Where do you spend money, how do you save money, and what should you change? If you are living beyond your means, a lender is not going to take the risk of loaning you money. If you have, or had, financial problems in the past learn how to change those problems in the future. It may take some time, but you can change your spending habits so that you will be able to purchase a home in the future. But for now you may have to rent instead of buy a home.

If you have saved money, spend wisely, and have a plan for your future lenders are going to love you! And now is a great time to purchase a home