Frequently Asked QuestionsRealtor Services | Cost of Real Estate Services | Buying & Selling
- What do Realtors do?
The short answer to this question is guide you through the process of buying or selling your home. It's my job to know the rules and regulations in the state of California. I also provide you with trustworthy vendors (like lendors) that will take personal care of you and your transaction. I have 18 years of experience helping people just like you (take a look at my testimonials). To get a more complete idea of how I might help you look at the 100 Things Realtors Do.
- What can I (the homeowner) do to help?
Ask questions. Listen and learn so that together you and your realtor can work hand in glove to achieve the sale of your home.
- Do Open Houses work?
Yes! In many cases they work quite well. Yes, its true your neighbors will come to see your house, and that's a GOOD thing. Each of your neighbors has a network of friends and family. If your house shows well and is priced well, they may know someone who may buy it! When your home is posted "open" on the MLS it floats to the top like cream, gaining much needed recognition. Open houses draw attention of those people trying to buy a home.
- Commision is how much?
Commissions are always negotiable but you get in this world of Real Estate what you pay for! Good service costs money. No one works for free. 6% of the sales price is usually the going rate for someone who is a full service agent.
- What are closing costs?
Closing costs are considered the cost of doing business but in real estate terms this is known as fixed costs, recurring and non-recurring costs. These figures are literally based on sales price. A net sheet with those calculations can be found through a title company. Always ask your realtor for a title companies net sheet it is the most accurate. The net sheet will give you the best idea of what it costs to sell your home.
- At the end of the day, what is the total cost to sell my home?
It varies from transaction to transaction, but an approximation would be 7.25% of the total selling price of your home.
- Is it a good time to buy a home?
It is an extraordinary time to buy a home! We will most likely never see prices or interest rates more affordable (2010).
- Should I sell my home now?
Selling in the downturn market depends on each person and your desired outcome. If you own your home outright and want to get out of the rat race, this is the perfect time to sell. If you plan on moving up to a larger home and have substantial equity, again home prices have never been better to buy. Sellers in this market will attract a healthy selection of first time buyers. Remember, money translates; if you sell your home for less you can buy a home for less.
- Timing on the market how long is too long?
The first 30 days is usually the highest traffic time dependant on market timing. It is very important to present your house in its best condition and price it accurately. Home buyers aren't known for their generous second chances, so it is very important to get their positive attention on the first try.
- When is the best time to put my home on the market?
Spring seems to be the time when people are out looking and buying.
100 Things Realtors Do
I do over 100 activities to get your house sold faster and at the best price. To earn my commission some of the things I do on your behalf include:
1. Order a complete property profile of your house
2. Review the property profile for accuracy
3. Perform a complete “Competitive Market Analysis” of your house
4. Calculate how long it will take your property to sell
5. Determine the effect of similar properties on the market
6. Help develop a pricing strategy for your property
7. Compute an estimation of your proceeds from the sale
8. Provide you with information on how to prepare your property for
9. Tour your property from the “Buyer’s Standpoint”
10. Conduct a complete “staging” analysis of your house
11. Provide referral to professional stagers
12. Review the interior of the house to maximize attractiveness
13. Assist you in locating suitable storage for large pieces of furniture
14. Review the exterior of the house to maximize “curb appeal”
15. Assist you in making the exterior as attractive as possible
16. Take photographs of your property for use in marketing materials
17. Develop “Just Listed” postcards
18. Place your property for sale on the internet
19. Review the status of any encumbrances against the property
20. Review the significance of any easements affecting the property
21. Conduct a thorough and diligent visual inspection of the property
22. Review the state of any property tax liens against the property
23. Assist in determining the square footage of the house
24. Develop an attractive description of the house for marketing
25. Place house description into the Multiple Listing Service (MLS)
26. Explain real estate Agency duties and liabilities
27. Review required flood disclosures, as required
28. Review required seismic disclosures, as required
29. Review required Mello-Roos disclosures, as required
30. Review the environmental Hazards Disclosures requirement
31. Review the federal Foreign Investment in Real Property Tax Act
32. Review the state Foreign Investment in Real Property Tax Act
33. Review the Smoke Detector Compliance requirement
34. Review Competitive Market Analysis with seller
35. Explain how commissions are split between Listing and Selling
36. Explain to seller how much the agents earn on the sale of the
37. Show seller how commission splits affect how often a house is
38. Review advantages of using a real estate lock box on the property
39. Review disadvantages of using a real estate lock box on the
40. Review the benefits of placing a real estate sign on the property
41. Arrange for pest control inspection of the property
42. Arrange for home inspection of the property
43. Arrange for roof report on the property
44. Arrange for septic tank inspection, as necessary
45. Arrange for well water inspection, as necessary
46. Arrange for asbestos analysis, as necessary
47. Arrange for smoke detector inspection, as necessary
48. Arrange for energy conservation inspection, as necessary
49. Arrange for soils inspection, as necessary
50. Assist seller in correcting anything significant revealed in
51. Provide Transfer Disclosure Statement to the seller
52. Complete listing agent’s portion of the Disclosure Statement
53. Provide Transfer Disclosure Statement to buyers
54. Provide Supplemental Disclosure Statement to buyer
55. Place a professional “For Sale” sign on the property, as authorized
56. Place appropriate riders on For Sale sign
57. Place brochure box on For Sale sign
58. Design attractive color flyers for the property
59. Print color flyers of property
60. Keep brochure box filled with flyers
61. Place lock box on property, as authorized
62. Directly contact agents with qualified buyers about the property
63. Respond to agent questions about the property
64. Respond to buyer questions about the property
65. Place flyers in flyer stand inside the property
66. Prepare sheets for potential buyers showing financing options
67. Prepare an Open House Guest Register
68. Develop an Open House schedule with owner or tenants
69. Assist homeowner in preparation of the property for showing
70. Develop a profile of the most likely buyers for the property
71. Update marketing program, as necessary
72. Stay in close contact with the seller about the status of the
73. Write advertising copy for various media
74. Place ads in various media
75. Provide clear flyer display stand for inside the house
76. For vacant properties suggest the use of appropriate rental
77. Show owner how to obtain copies of building permits
78. Order copies of Covenants, Conditions and Restrictions, as
79. Place appropriate information into Multiple Listing System
80. Order professional photo of the property to be taken for the MLS
81. Send “Just Listed” postcards to neighbors
82. Follow-up with agents who show the property
83. Meet potential buyers to show them the property
84. Follow-up with potential buyers from open house contacts
85. Canvass centers of influence to locate potential buyers
86. Arrange for a tour of the property by all agents in the area
87. Arrange for a tour of the property by all Intero agents in the area
88. Obtain other real estate agent’s opinions of the pricing of the
89. Obtain other real estate agent’s opinions of the stage of the
90. Provide a weekly status report to seller by phone or email
91. Review local news sources for changes in the neighborhood
92. Place “Open House” advertisements, as appropriate
93. Strategically place Open House signs to attract buyers
94. Hold property open for potential buyers
95. Make sure every visitor signs the Open House Guest List
96. Review results of the Open House with seller
97. Prequalify all potential buyers before offers are made
98. Periodically review progress of the marketing program with seller
99. Periodically update MLS information
100. Assist seller in complying with Fair Housing Laws
101. View all competing houses for sale
102. Coordinate presentation of offer to purchase the house
103. Write Counter-Offers, as necessary
104. Make sure escrow is properly opened
105. Make sure purchase deposit is properly credited to seller
106. Make sure that any encumbrances are paid off at close of escrow
107. Make sure seller is provided with correct amount of close of escrow
108. Address post sale questions or concerns that arise