Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Dual agency real estate transactions are often confusing for clients, and come with a number of significant benefits and drawbacks. Left unaddressed, misunderstandings arising from a dual agency transaction can leave behind a bad taste, especially in those situations where things go awry. If dual agencies are legal in your state, here’s how to come out on top without getting any egg on your face.

Addressing the Conflict of Interest Conundrum

Though playing both sides does streamline the process and minimize communication delays, dual agency real estate has some significant gray areas, which are important to explain to clients to keep things on the up-and-up:

– Advice

Because buyers want the lowest price, and sellers the highest, dual agents cannot take sides or give advice. Instead you’re more like a parent, you love both kids, and want to make sure the outcome of the situation is fair.

– Checks/Balances

There’s no one to catch it if you miss things, as you’re running both sides. And because you’re human, mistakes will inevitably occur.

Pointing out the Pros

That said, dual agency real estate isn’t all bad. There are also many benefits that should likewise be pointed out to potential clients:

– Full disclosure

Dual-agent/broker scenarios must be disclosed/consensual, and can’t occur behind the scenes.

– Potential savings

Dual agency real estate allows for potential savings in commission fees if the same person plays the seller and buyer’s agent, reducing fees.

– Increased potential access to properties

In large brokerages, who house a number of agents forming a different kind of dual agency scenario, sellers have more access to potential buyers, and vice-versa.

– More streamlined sales

A single entity makes communication issues moot. Communication between parties is timely and the process more streamlined with a single agency in charge of scheduling paperwork and deadlines.

Help your dual agency do double duty. Up your game with tools and technology from Properties Online today­.

Real Estate Home Sales Are Hot! What's Up for the Rest of 2018?

Real Estate Home Sales Are Hot! What’s Up for the Rest of 2018?

What’s driving today’s real estate trends? Driven by low home inventory, new home sales are hot, with sales rising 6.7% in May despite extraordinarily high selling prices. This tops the far more conservative estimate of a 0.9% increase expected by economists at the Wall Street Journal.

Have We Surpassed Elevated Levels Seen Before the 07-09 Mortgage Crisis?

New home sales still remain well beyond such levels, and are up 14.1% compared to new home sales last May.

What Areas are Seeing the Greatest Growth?

Sales in the South are driving last month’s numbers, with the region experiencing a 17.9% increase in new home sales. Elsewhere in the Midwest, May sales were flat, and in the Northeast and Northwest, new home sales declined.

Will this Trend in New Home Sales Continue?

Expectations of single-family home sales by builders fell two-points in June according to the recent NAHB housing market index. Further economic growth, the creation of more jobs, and a solid housing demand, however, are expected to spur construction of more single-family homes in the months ahead.

What About Pre-Owned Homes?

Compared to sales in the first 4-5 months last year, 2018 sales of pre-owned homes have remained neutral.

How are Complications in the Sales Arena Playing a Role?

It’s commonly seen in real estate trends for low inventory to inflate prices, driving buyers out of the market, and we’ve been seeing that for quite some time now. But this isn’t the only factor complicating purchases. Mortgage interest rates rose to 4.59% in May, up more than half a point from January’s 4.03%. Labor is scarce, and lumber prices at record-highs, adding almost $9,000 to the cost of new single family homes since January of 2017. All-in-all, a harrowing time for making a home purchase.

Are you making the most of today’s hot housing market? Heat up your sales with the latest real estate trends and technology from Properties Online today­.

Can Staging Help Home Sales?

Open House Staging: What Creates (or Kills) Sales

Veteran brokers are often fine connoisseurs of open houses. They’ve seen it all – the good, the bad, and the ugly. That’s because from newbie agents to unseasoned sellers, the things that make or break a sale remain largely a mystery and ever open to interpretation, making staging snafus a common source of lagging home sales. In today’s real estate selling tips, we’ll take a look at common staging faux pas that frequently go overlooked.

Hovering Homeowners

Homeowner’s that leave late, return early, or stay and hover are a huge turnoff. The family should be up at least an hour before the agent arrives and out on time. It’s one thing to find a family cat snuggled up on the bed, but snoozing toddlers and teens scream ‘invasion of personal space.’

Dark Rooms

A house with windows and doors closed and locked up like Fort Knox is far from welcoming. Remove room-darkening curtains and valances, opening blinds to let light shine in to create a more open, cheerful, less dungeon-like feel.

Dirt & Dust

Dirt and dust scream ‘unkempt’ and make buyers wonder what other house maintenance has passed under the radar. Dust and clean all surfaces – especially the kitchen and bath – areas where crustiness is sure to send would-be buyers packing.

Closet Clutter

Clear clutter from closets, kitchen cabinets and drawers. Out-of-date canned goods, 90s wardrobes, and overfilled junk drawers do not make a good impression of a home. Buyers like to kick tires, envisioning themselves in the space. Make things functional, clean, and inviting.

Quirky Collectables

From kitchen condiments on the dresser to Star Wars shrines, it’s best to leave unusual collections out of the spotlight and let the home have all the buyer’s attention – not the seller’s fetishes.

Are potential clients seeing your listings in the best possible light? Brighten up your marketing efforts with real estate selling tips and technology from Properties Online today­.

Should You Take the Repair or Money?

Home Inspection Repairs – Should You Get the Repair or Take Money

New or old, the chance of a home in need of zero repairs is slim to none. There is no perfect house. Every component of every home has the potential for defect, poor craftsmanship, and wear-and-tear, with each part and parcel of a property reaching the end of its lifespan at varying times.

In today’s real estate buying tips, we’ll look at such common home issues, and whether it’s better to address common problems or let them slide.

Common Home Inspection Deficiencies
These issues, identified by an independent, qualified home inspector, could slow your sale. Most unfortunately, sellers often refuse these repairs due to cost. If your buyers aren’t willing to compromise on compensation, advise them to look at newer homes.

– Ungrounded Electrical
Pre-1960s homes with ungrounded electrical systems pose problems for today’s sensitive and expensive electronics.

– Galvanized Piping
Galvanized water pipes, rust, leak, and can suffer low-pressure due to buildup.

– Orangeburg Sewer Pipes
These pipes last 50 years, then disintegrate.

– Roofing Issues
Buyer beware: Many home inspectors don’t include roofs.

– HVAC & Water Heaters
Be wary with furnaces over 20, and HVAC systems over 10 years old. These systems are expensive to replace.

– Foundation Problems or Wet Basement
Think twice before making a purchase.

Real Estate Buying Tips for Negotiating Repairs
Don’t nitpick. Focus on major issues. Always give sellers the home inspection report – this will inspire them to be more agreeable to requested repairs when they see the number of deficiencies that buyers aren’t demanding to be addressed. On the buyer side, ask the sellers to pay for a home warranty. If the lender is agreeable, lean toward a cash credit toward repairs – sellers have little vested interest in what happens post-sale, and may look to bottom-line pricing over quality.

Don’t get left picking up the pieces of your next sale. Stay in-the-know with the real estate buying tips and technology of Properties Online today.

How to Become a Social Marketing Expert for Real Estate

What’s Trending in Real Estate Video Marketing?

Every 30 days, more video content is uploaded than major U.S. TV networks have cranked out in 30 years. Do you have the real estate selling tips you need to snag a sale from the 85% of U.S. Internet users who avidly consume them? Knowing viewing trends is key to success.

Timing is Everything
The biggest trend surrounding ANY online video content surrounds content length. With gnat-like attention spans, today’s consumers prefer videos less than 60-seconds. And that’s good news for you. Short, sweet easily-consumable videos are easier and more inexpensive to produce.

How Can You Hook Leads with Short Snippets?

– Neighborhood Videos
Quick, visual neighborhood tours, sans-narration.

-Business Profiles
Collaborating with local leaders expands your audience!

-One-Minute Market Updates
Instead of droning market reports, skim the basics, offering fast access to need-to-know information.

-Community Videos
A lack of highly-localized content is frustrating for residents. Fill the void, covering local events, and boost your brand.

– Amenities Tours
Where can you get coffee/food or workout/play when you move to XX neighborhood? Showcase and share this coveted information.

-Buyer & Listing Consultation Presentations
This not only improves your presentation, but builds trust and loyalty.

-Top 10 Lists
Like the newspaper and Jay Leno, you too can create your own Top 10 lists. The possibilities here are nearly limitless: Amenities, dining, retail venues, schools…

– Buyer & Seller Tips
Evergreen, like Top 10 lists, you can also create video content on shopping for a home, lender, inspector, moving company, and more.

Are You Missing Out?

One of the most proven real estate selling tips today, leveraging video marketing, is no longer an optional luxury. It’s crucial for survival, drawing all eyes to your business and creating a deep emotional connection to potential clients, sight-unseen. Don’t get left in the dust. Increase your conversion rates and stay relevant in today’s market with the real estate selling tips and cutting-edge marketing technology of Properties Online today.