Is It Necessary To Hire A REALTOR To Buy Or Sell A Home In California?
Our goal as Realtors or Real Estate Agents is to provide each and every customer with the finest real estate service based on the highest standard of ethics, values, and client care. Realtors in Rocklin, CA accomplish this by placing our customer’s interests first. This is our mission. We will live up to this in everything we do. Our success will always be measured by the happiness and the loyalty of our clients.
A Realtor sales associate can help you determine your buying power. You need to know how much house you can afford before you start the search. Your sales associate will provide detailed information on properties that meet your criteria from the Multiple Listing Service and other information resources only available to REALTORS®.
Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. They are committed to treat all parties to a transaction honestly. REALTOR® business practices are monitored at local board levels.
When you find a property you like, your Filipino Realtor sales associate will help you develop an offer including the offering price and other terms. The sales agent will advise you about the importance of a home inspection and other inspections required by law in your area. Your real estate agent is there to assist you throughout the buying process.
Buying home/property can be an exciting experience, whether this is your first purchase or one of many. The key to a successful purchase is working with an industry leader who knows the market and area you are interested in. Filipino Realtors are experts in their field and pride themselves on having a keen working knowledge of the real estate market. This is the competitive edge you want on your side when making your next real estate purchase. Realtors will make your buying experience an easy one by providing you with 100% buyer representation every step of the way.
When working with a team of Realtors who KNOW the local market, they can tell you which are the best buys, which homes are over-priced, and which homes will result in great resales one day will save you time, effort, money and stress.
Why list with a California Filipino REALTOR?
They have the experience and knowledge it takes to get your home sold at top dollar, no matter what the news may report about the real estate market. A good Realtor and her team of specialists will guide you through the entire process and offer valuable tips to consider if you are thinking about buying or selling your home.
Finding a Realtor or real estate agent in California is only the first step to buying or selling a house, but it’s a crucial one. It’s important that you don’t pass up your dream home because you didn’t know the conditions of the contract.
Where Do I Find The Best Homes For Sale In California?
Ever felt that your real estate agent or broker wasn't doing his job and you wanted to "fire" him? Usually firing him is often as simple as paying a penalty of $250 or less, but you have to carefully read the "termination clause" in his Listing Agreement. Have your attorney review it and, if necessary, go directly to the Board of Realtors® in your state if he is uncooperative.
Firing your realtor® usually requires a certified letter to the realtor® and/or his broker (boss) and may have additional requirements in some states to be legally binding on both parties. If you don't get a "Signed Release" you might have to pay double commissions at your closing. A simple "It hasn't worked, you didn't perform as expected" should be enough when he asks why he is being fired. We have seen realtors® file liens against properties for unearned commissions even before a sale was made just to keep the homeowner from firing him.
Should you find a buyer during the Listing Period and you fire your realtor® to save the commission, you can expect to get sued and may lose in court. This is the same as telling a perspective buyer to come back after the expiration of the Listing Agreement to get a better price. Are you sure that buyer isn't another realtor®? It may be costly to find out. Treat other people as you would like to be treated.
Thirdly, read the cancellation clause and have your attorney review it before you sign any Listing Agreement. A little time spent here can save you thousands of dollars later. Serious reasons for termination can include misrepresentation, acting in bad faith, or even fraud.
In summary, be in continuing contact with your realtor® and if you are unsatisfied with his performance, tell him so. If he is unresponsive to your requests, especially for an "Open House", fire him immediately. If you do fire your realtor®, always get a Cancellation Letter or Signed Release so you know you are free to sell your home without paying a double commission.
How to Sell Your California House for More Than Its Worth
Should you, as a homeowner, looking to sell your home, consider selling the property yourself or take the conventional route and engage a Realtor? That is the preverbal $64,000 question - or if you use the national average sale price of existing homes of $268,000 - the $16,000 question. Based on pure value, this is a question that really should at least merit consideration.
Obviously For Sale by Owner (FSBO) is not for everyone. I really don't know why that statement has to be made - NOTHING (with the exception of air and water) is for everyone. Now back to the point at hand.
Why should you consider FSBO:
First and foremost - you save money - simple statement to make. How do you save money? You don't pay the typical 6% real estate commission associated with a real estate brokered listing and sale. This isn't just any money - it is your tax free (usually) home equity. Money that you have ultimately earned either through appreciation, home improvement, sweat equity or savvy real estate investment. Anyway you slice it, it's YOUR money. It is often said buying a home is the single most important and largest purchase of an individual's life. Does it not stand to reason that selling a home represents the single most important "Sale" of an individual's life? The National Association of Realtors will tell you that FSBO homes sell for 16% less then Realtor sales. The problem with their calculations is they use a flawed formula to support their argument - they use a MEDIAN price as opposed to an AVERAGE price. The median is a "middle number" in a series of numbers - the average is a sum of all numbers divided by the total number - which is what as a homeowner cares about.
Another consideration is that an FSBO can take all or part of the real estate commission savings and deduct it from the price of their home to expedite a sale. This works great in a "soft" market or if you simply have to sell your home in a limited amount of time. Consider this example (I have used this unlikely scenario purely to make my point). You own a 1300 Sq ft - 2 bedroom/2 bathroom condo. Your adjacent neighbor has the exact same unit with the same level of finish and has listed it with a Realtor for $485,000. Calculate the 6% real estate commission in to the equation and best case your neighbor walks away with $455,900 - that leaves you with $29,100 to negotiate. If I'm a buyer and I see the exact same condo next door for $30K less I can tell you which one I am buying!!! To be honest, I'm going to buy it if I can save ANYTHING! This works very well if you bought in a strong real estate market and the market has now softened to the point that you actually paid more then you can sell it for. Selling FSBO may allow you to at least keep your head above water - remember we are talking 6% of the value of your property.
You do not possess any sales or marketing skills. I know it's not easy to admit, but if you are an introvert - forget it. Most successful Realtors are extroverts and spend countless hours attending social functions, clubs, associations, golf courses (sorry had to throw that in) to generate leads and contacts. They have usually taken countless sales training courses and most importantly, they know how to close a deal.
Multiple Listing Service (MLS) - this in my opinion is the single most important advantage that Realtors have over FSBO. The MLS is made up over approximately 500 individually owned and operated MLS organizations. It is essentially a nationwide repository of existing properties available for sale. It provides both realtors and buyers alike an opportunity to locate properties using a number of search criteria including, but not limited to, geographic location, size, price, bedrooms, bathrooms etc. There are two factors to consider here - one - you can buy a Flat Rate MLS at either a national or county level and take advantage of the marketing exposure that MLS provides - it will cost you in the range of $299 - $599 and an agreement to pay 2 - 3% to a selling agent if a Realtor sells your home. You do however maintain the right to sell your property yourself without paying a commission fee. As far as "quality" of exposure goes, I truly believe that an online FSBO listing is superior (in appearance and functionality) to an MLS or realtor listing. That said, no FSBO website enjoys the level of traffic and potential buyers offered by Realtor.com.
In conclusion, obviously undertaking a successful For Sale by Owner is not for everyone - we can all agree on that statement. Is it worth a try - definitely!