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4 Truths About Real Estate Agents

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We want our clients, whether it’s a buyer or a seller, to be well informed about the home buying and selling process and that sometimes means being honest about real estate agents. Not all agents are ethical, shocker! But by weeding out to those that might have unethical practices, we can help you be more informed and better able to make a wise decision when it comes to selling and buying and who to represent you.

4 Truths About Real Estate Agents

With that in mind, here are four things you should probably know about real estate agents before buying or selling.

Real estate agents can work both sides of the transaction.

This means that the same real estate agent can assess the buyer and the seller in the same transaction. Typically, the buyers have their own representation and the sellers have their own listing representation but dual agency is allowed in most states and this is where the same real estate agent can represent both the buyer and the seller. You can probably already start to see the discrepancies and conflicts of interest that this can create. If an agent is representing a buyer and a seller, how can they hold up to their fiduciary duty and be honest both sides? Confidentiality can be skewed when it comes to representing both sides. If a buyer is trying to negotiate for a lower price but the seller knows that the buyer can afford more, chances are that buyer is getting the short end of the stick. Similarly, if the seller can come way down on the price and the buyer knows it, they’re going to keep negotiating for that lower price. You can see how this can be a huge conflict. It’s best to have your own agent representing you, regardless of which side you are on.

Commission is negotiable.

Most listing agents will tell you a flat 6% commission but it is negotiable. However, that 6% is split in half between the buyer’s agent and the seller’s agent. For higher-priced homes, there is a pricing strategy that can be used but when negotiating, just remember that you can always negotiate for a lower or a different type of split to be more attractive to buyers agents, drawing in more buyers.

Open houses may not work.

Sellers expect open houses but they usually don’t necessarily sell the house. Statistics show us that only 7% of buyers find their home at an open house. Often times, agents will sit open houses simply to gain more buyers, rather than to actually sell the house. When it comes to an open house, it’s truly up to the homeowner whether they choose to have an open house or not. There’s always the security aspect so think carefully before deciding on an open house.

Read More: Is it okay to find a Realtor® at an open house?

You are free to choose your own service provider.

Because we work with both buyers and sellers (because we have listing agents) we have a plethora of resources such as home inspectors, real estate attorneys, escrow and title companies, but you have the ultimate choice on who to use. One little piece of advice when it comes to service providers, experienced, long-term agents have usually built up a better book of referrals and resources the new agents. Because we have sold real estate for decades, we have found excellent service providers that are reputable, honorable, and affordable.

Great Questions to Ask Your Realtor®

The point is to choose your real estate agent carefully. We have listing agents and we are buyers agents so even though we are on the same team are loyalty lies to one side or the other during a transaction. Feel free to interview us, ask questions, and contact us when you’re ready to buy or sell throughout Brunswick County in both North and South Carolina.

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Benefits of Using a Real Estate Team to Buy & Sell Simultaneously

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Benefits of Using a Real Estate Team to Buy & Sell Simultaneously

Our team has been buyer focused for decades. We love homebuyers and there’s nothing more joyful then the look on homebuyers faces when we hand over the keys and they can walk to the door of their very first home or even their dream home after years of saving. Recently we have partnered with listing agents, George and Elisabeth Smith, who also have years of experience listing North Carolina real estate. While we love helping buyers, they have the same passion for homeowners and sellers. We figured this is an amazing team because when people need to buy and sell simultaneously, the thought of having different agents for both sides of the transaction just adds to the stress of the process.

One-Stop Shop

This is why if you are buying and selling a home in the Sunset Beach area or anywhere up and down the Intracoastal waterway of North Carolina and parts of South Carolina, we would love to be your one-stop shop for real estate needs.

Experience on both sides

Because we worked with buyers for years we’ve not only built up good experience under our belt, but a good and healthy mix of resources and referrals. You need someone dedicated and reliable when it comes to real estate appraisers, home inspectors, survey specialists, lenders, escrow, and title companies. Because we’ve done this for years we have collected a group of individuals that specialize in the real estate transaction. We are not amateur agents or brokers; because we’ve done this for years, we have experience and we have experience with others involved in the transaction.

Don’t just trust anyone

I can’t tell you how many times I’ve seen amateur agents out there tried to give referrals to businesses they’ve never worked with. If you’ve never worked with a lender or a home inspector, how can you know they are going to be a good fit for your client? And, we don’t just have one reference or referral; we have several because everybody works differently with different people. We have lenders and inspectors that work with real estate investors and others that work with first time home buyers. A well seasoned real estate investor knows what they’re looking for and they don’t need all of the handholding and detailed reports that a first-time homebuyer needs and should want.

But, back to the simultaneous buying and selling. When you’re selling a home and buying another in the same area or within close proximity to each other, having the same teamwork on the transaction will keep things on point, on time, and help you close simultaneously. This is no easy feat. Selling and buying simultaneously takes a lot of communication, exact timelines and time frames, and excellent time management between all the parties involved. There are so many people when it comes to a real estate transaction that if you don’t have people all on the same page, mistakes are going to happen. I’m not saying that every deal you do with us will be perfect because every transaction is different and every home and buyer is unique, but, having everyone communicate together and having everyone familiar with each parties attitude, work ethic, and communication preferences really help to pull the entire deal together.

If you need to buy and sell anywhere along the Intercoastal waterway of North Carolina even stretching down into Little River and Myrtle Beach South Carolina, give us a call. Our team handles all types of real estate, golf properties, homes on the Intracoastal Waterway and can help close your deal in a timely manner with as a minimal stress on you as possible.

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How Does a Buyer’s Agent Get Paid?

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Many homebuyers don’t realize that they pay a buyer’s agent nothing to use their services. So, it begs the question:   how does a buyer’s agent get paid?How Does a Buyer's Agent Get Paid?

A buyer’s agent works strictly with a homebuyer helping them negotiate for their terms, find the right home for their needs and their budget and need a mediator between the buyer and seller. The buyer’s agent is a licensed real estate agent for their area and can facilitate a real estate transaction on the buyer’s behalf. It is vital for buyers to have their own representation when conducting a real estate transaction. If the buyer chose to utilize the services of the listing agent when purchasing property, their best interest may not be considered since the listing agent’s primary job is to sell that particular house for the seller. A buyer’s agent’s primary job is to work exclusively with the buyer without any hidden agenda on selling one particular property over another.

However, this brings up the interesting topic of how agents get paid. Regardless of which home the buyer chooses, the buyer’s agent will receive half of the commission that was originally agreed upon between the listing agent and the seller.

For instance: let’s say the sellers of a particular property enlist the help of a listing agent. That agent writes up the contract with a pre-negotiated set of agreements such as the commission, listing price etc. The commission can be negotiated but is typically between 6 and 7% of the sale of the property. This percentage is then split between the listing agent and whoever brings the buyer, typically the buyer’s agent. This percentage of the commission can be split equally or it can be split unequally depending on the type of negotiations. Sometimes listing agents will decrease the listing agent commission to boost more buyer’s agents to bring in a buyer or because they are also helping the seller purchase another home in which case they would receive the buyer’s agent’s commission on another deal.

But, make no mistake, a buyer’s agent’s total responsibility is first to their buyer and not to the seller. Even though the seller will pay the commission to both agents, the buyer’s agent is still working exclusively for the buyer. Regardless of which home the buyer chooses, that agent will get paid off of the sale of the home. Buyer’s agents are responsible for negotiating their own commissions so it’s not something that the buyer ever needs to worry about.

How to Make the Most of Your Open House Visit

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How to Make the Most of Your Open House Visit

Visiting an Open House? Here’s How to Make the Most of that Visit

Open houses to the runaround as being not that beneficial when it comes to selling the home but if you are a buyer that loves touring open houses here are some ways to make the most of your open house.

It’s a great way to learn about the market.

If you’re just exploring the neighborhood or looking for a home in a new town, browsing open houses is a great way to get to know the market, the general home price and the style of the homes in a particular neighborhood.

You don’t have to give anyone your information.

A lot of listing agents or the buyer’s agent sitting the open house will want every person that enters the home to sign in. While it’s not required, you don’t need to be rude about it. It’s common courtesy to recognize and say hello to the agent and for their safety as well, introduce yourself. Remember, they don’t know you just as much as you don’t know them. They’re protecting the home and their cellar so signing in with a simple name is a good way to keep track of who actually came through the house. If you’re an active buyer and you already have a buyers agent, make sure the agent sitting the open house understands that so they won’t bother you.

Watch out for other buyers.

You can tell a lot about the activity of a particular area or neighborhood by watching other buyers. If there’s a lot of people walking in and out quickly the home probably have some issues that you want to address. If potential buyers are taking their time, communicating with each other or asking about the price, you can probably assume that the home is situated in a hot market. This could help you learn a lot about your potential competition.

Ask questions.

Most of the time the seller will not be present during an open house but the listing agent might be. Ask as many questions about the property as you would need to know. This is their job and they are a direct connection to the seller. If there’s anything they don’t know, they should be able to find out with a quick phone call directly to the seller while you’re browsing the home. You’ll also want to ask why the seller is selling.

 You could meet your future real estate agent.

If you’re not currently working with the buyer’s agent, an open house is a great place to find and interview your potential buyer’s agent for the future. After him questions about their business and see if you feel comfortable speaking with them about home buying. You never know where you might find your next buyers agent.

ContactOpen houses are probably not going to go away anytime soon. They’re a great way to expose the home to potential homebuyers, have people find out about the neighborhood and speak with the agent about why the seller is selling. They probably will never go away so if you’re interested in looking at open houses in Sunset Beach NC or surrounding communities on the Intracoastal Waterway please contact our team at any time. We would be happy to send you a list of open houses for a particular area.

 

The Very Best Home Buying Advice for Sunset Beach 2018

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The Very Best Home Buying Advice for Sunset Beach 2018

Each year we recap some of the best pieces of advice for home buyers. Although we are not nearly done with 2018 yet, I have compiled a great list. Here are our favorites and things we want all home buyers to know.

How to Prepare Your Finances for a Mortgage

Preparing to buy a house may be one of the most exciting and scariest moves you’ll make your whole life aside from having kids or getting married. This is a major undertaking but too many people are so afraid of it that they never end up doing it. This is a great step to take in your life, but only if your finances are well prepared. Because we deal a lot with buyers, we want to make sure that all of our buyers are well informed and have done the homework necessary to prepare themselves for a mortgage.

 

Be Prepared to Buy A Home – Get That Pre-Approval Letter

Almost anywhere you go, you’ll see the housing market is back. New listings are popping up every day, and buyers are calling and emailing that they are interested in seeing “this house I found on the internet.” After determining that they are not already working with another agent, I ask if they’ve talked with a lender about getting a pre-approval letter. Too often, that question is answered with, “No, but we just want to see this house.”

Should You Really Buy a Fixer Upper?

I know that Joanna and Chip Gaines have decided to end their Fixer Upper show on HGTV. I have to admit, I’ve been kind of obsessed with this couple. Not only are they the sweetest things ever, but their homes, decorations, and what they can do with shiplap is unbelievable. But, it got me thinking about our own fixer uppers around here. What the term really means and who should be buying fixer properties. Here’s my take on buying a fixer-upper and if you’re considering buying one, what to look for.

Is it Okay to Find a Realtor at an Open House?

Open houses, even though they may not actually sell the house, are still a necessity and something that most sellers require and expect of their agent. They can be a great marketing tool and something that homebuyers can view or tour while looking at homes. But there’s something we want to inform all of our buyers about, the agent that usually suits the open house may not be the agent selling the property, but actually using this is an opportunity to get more buyers.

Can I Buy a House That’s Not For Sale?

Is it even possible to buy a house that’s not on the market?The subject came up this week and I think it’s important to address it to potential buyers. We’ve had buyers that have looked at dozens of homes and nothing seems quite right. So is it even possible to buy a house that’s not for sale?

How to Find Out if a Home is for Sale Before It’s Listed

In tough or competitive real estate markets knowing when a house will be listed before it actually goes on the market can definitely be a great advantage to finding and buying the homeof your dreams. One of the biggest tactics is having a real estate agent that is well-versed in both buying and selling properties. In hot markets where there are not a lot of available homes, working with someone who has a large database of connections in the industry can really give you a competitive edge above those who don’t. Here are four tactics for finding a home for sale before it’s actually listed.

Real Questions to Answer When Choosing the Right Home

More than simply knowing how many bedrooms and bathrooms you want in a house are the real nitty-gritty questions such as what do you want the house to look like, the size of the house and lot, and other details. We want to ask the serious and usually not thought of questions when it comes to finding the perfect house. Use this checklist when figuring out exactly what type of house you’re looking for.

Finding the right home isn’t rocket science but it can be much easier when you’ve done a little research beforehand. We want all our buyers to be well informed and that means offering the best information, especially for first time home buyers. For answers to any of your real estate questions don’t hesitate to contact us either on this post or just call!  910-612-1931 or 910-612-1906

 

How to Make the Most of Your Home Inspection

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The home inspection is then vital time for homeowners to understand and learn as much about their property as possible. We recommend an urge all homebuyers to have a professional home inspection from someone that is skilled and experienced as well as licensed and bonded. In order for our home buyers to get the most out of their inspections, it’s important to listen, ask questions and even take notes. Here are some key points to know in order to make the most of your home inspection.How to Make the Most of Your Home Inspection

#1. Understand what to expect from your home inspector.

As a real estate agent, we can recommend an inspector, however, it is your decision on whom you choose. You may get recommendations from your mortgage lender, attorney or even a friend. You want to check out the inspector’s credentials and reputation and ask how many inspections they’ve actually completed. Verify that your home inspector will provide a written report after the inspection and asked to see a sample report and how long it will take until you receive your inspection report.

#2. Prepare for your inspection.

We urge all homebuyers to attend the inspection to learn how to best take care of their new home. Before the inspection, you can look over the interior and exterior of the property for potential problems in order to ask your inspector questions upon review. Look for dark spots in the basement, wet spots under sinks, odd or mold the smells and odors and review the sellers disclosure form for any items that need to be carefully inspected.

#3. What you can do during the inspection.

The inspector will look for major issues such as foundation problems, a leaky roof, electrical or plumbing issues but you’ll also want to ask key questions during the inspection. These include knowing where the water shut off valve is, the gas shut off and how to properly maintain the property. Home inspectors can also offer tips on the life expectancy of particular appliances and materials.

If the inspector finds issues that are of grave concern it’s best to discuss how to proceed with your real estate broker or agent. Attending the inspection is crucial to understanding as much as you can about your new home. Know what to expect, ask questions and be prepared to review the report with your agent.

Need a home inspector? Give us a call. And you still need a professional inspection on new construction homes as well!

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