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Thinking Of Selling Your Home? Here’s Why You Need A Pro In Your Corner

by Elite Asset Management Team

 

 

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional.

 

Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.

 

Here is a list of just some of the people with whom the seller must be prepared to negotiate with if they decide to For Sale by Owner (FSBO):

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interests of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The termite company if there are challenges
  • The buyer’s lender if the structure of the mortgage requires the sellers’ participation
  • The appraiser if there is a question of value
  • The title company if there are challenges with certificates of occupancy (CO) or other permits
  • The town or municipality if you need to get the CO permits mentioned above
  • The buyer’s buyer in case there are challenges with the house your buyer is selling

 

Bottom Line

The percentage of sellers who have hired real estate agents to sell their homes has increased steadily over the last 20 years. Meet with a professional in your local market to see the difference that he or she can make in easing the selling process for you.

 

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

 

Your Home Isn’t Selling? These Reasons Could Be Why.

by Elite Asset Management Team

 

 

Your home has been up for sale for quite some time. You were hopeful for a quick sale, but it didn’t happen. It has been months with no offers on the table. It can be really frustrating, but understanding why it’s not selling is a great place to start to finally getting your home sold.

So, why isn’t your home selling?

  1. Overvalue. You may have overvalued your property. Your home must be priced right at market for it to get offers. Comparing your home to similar homes that have recently sold in your neighborhood is one way to find out your home’s estimated value. A good realtor will be able to get the correct value for you. Try to avoid pricing a bit high saying we can always come down.
  2. Listing lacks presentation. A listing has to have a good description with beautiful photos of the interior and exterior. Highlight important stuff like the unique features of your home. Work with your realtor in creating an excellent presentation.
  3. Always at Showings. You should not be at home when it is shown to people. This could add pressure to the buyers and could ruin the chances of getting your home sold.
  4. Not Negotiating Properly. When selling your home, you have to be open to negotiations. One reason why home sellers don’t negotiate is that they’re too attached to their homes. Negotiate for the right price and get your home sold. Even if a low offer comes in try to make it a win, win. Any offer is a starting point.
  5. A Dirty House. Your house has to be clean. Period! A clean house is inviting and fresh. Have your home professionally cleaned to make sure potential homebuyers see your home at its best. Air fresheners are a plus but don’t over power on the scents.
  6. No Staging. Have you moved already? If you have, you have to consider staging your home. Adding furniture and decorations to your home will make it look good for potential buyers. It gives it warmth and the home will be more appealing to the buyers. It is a proven fact that staged homes sell faster and for a higher price that vacant homes.
  7. Personal Items. You have to make sure your home is free of your family photos and other personal items. The goal is to let the potential buyers see themselves living in the home.
  8. Personalized Improvements. You may have done something to your home that others may not like and this could be preventing the sale. It could be something like the color of your walls, the built in cabinets with weird carvings, and a lot more. You may want to have these adjusted to better suit the potential buyers. Ask you realtor for their assistance or even higher a professional stager.
  9. Clutter. Clutter isn’t good when selling a home as it makes the room look smaller. Potential buyers may shy away at the site of clutter so be sure to minimize or de-clutter completely.
  10. Too many repairs needed. If your home is in need of a lot of repairs, most of the buyers are going to look the other way. The best thing to do is get the small items done, especially those visible to the eye. Also, be prepared for repairs after having all the home inspections completed.
  11. Realtor. Choosing a good realtor is very important. Select a highly qualified agent with good experience, a good track record and good credentials. A good start is selecting a CRS – Certified Residential Specialist.  Also note their presentation skills when you interview. If they can’t present themselves properly, how will they present your home?

Knowing these issues can definitely set you on the right path to getting your home sold. You wouldn’t be reading this if you have a good realtor or if you didn’t need one. Get a good realtor. It really makes a huge difference. If you are local in the Greater Albuquerque Area visit www.TopAbqAgent.com

Thinking of Selling Your House On Your Own? It Could Cost You.

by Elite Asset Management Team

 

The current real estate market favors sellers and some homeowners might be thinking of selling their homes on their own which is also known as a For Sale By Owner (FSBO). They think that by going that route, they’ll be saving money by not having to get the services of a real estate agent.

Collateral Analytics made a study and found out that FSBOs don’t actually save any money and in some cases, it has cost them more by not getting the services of a real estate agent and having it listed with them.

In the study, they analyzed home sales in a variety of markets. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions:

  • “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
  • “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
  • “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

In conclusion:

  1. They achieve lower prices when they go FSBO than similar homes that are sold by realtors who use the MLS,
  2. The data suggests the average price was near 6% lower for FSBO sales of similar properties.

America’s trusted voice on money, Dave Ramsey explains:

“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”

 

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

 

Why Hire a Real Estate Professional? Here are 5 Reasons Why

by Elite Asset Management Team

 

Buying or selling a home is a big decision. It is one of the biggest decisions you’ll be making in your life. It is crucial that you know what you’re doing, but being knowledgeable may not be enough. Getting help from an experienced real estate professional can be the difference between you enjoying your new home or the equity from a sale and losing it all.

With continuous increase in mortgage rates and home prices, buying or selling on your own may not be a wise decision.

Why hire a real estate professional?

State Regulations

In each state, there are varying regulations on the contracts needed for a successful sale. It would mean a lot of paperwork. Your local real estate expert would know these regulations and make sure that everything goes smoothly.

Experience

Buying or selling a home involves a lot of steps. A real estate professional with experience can make sure that all steps are done the right way to get you in your dream home.

Negotiating

There will be a lot of negotiating in the buying or selling of a home. You need someone who can help you get what you want, someone to deal with buyers, sellers, appraisers, inspectors, etc.

What is your property or the property you want really worth?

Knowing this is very important when buying or selling a home. Your home could be worth more than you think. The home you’re buying maybe worth less than the listing price. It could mean losing thousands of dollars if you don’t know what you’re doing.

According to a study by Collateral Analytics

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Up to date

The real estate market is ever changing. You need someone who knows the past, the present and can foresee the future. A good real estate professional knows the market and would tell you what you need to hear and not what you want to hear.

Financial guru Dave Ramsey advises,

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist & ABR – Accredited Buyers and Seller Representative who can help you navigate thru the process and get the job done for you. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a superb track record.

You can contact him by calling or texting him at 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Here are also some Free Sellers resources. VIP-Seller-Resources

Thinking of Selling? It’s a Seller’s Market! Now is the Time!

by Elite Asset Management Team

 

The National final market data on the 2017 housing market is in. Greater Albuquerque Market data is soon to arrive, stand by. Now is the time to sell your home! We are back in a SELLERS MARKET!! YES!!!

2017 Housing Market

Highest level in new-home sales in a decade.

Highest level in previously owned homes sold in over a decade.

Applications to build single-family homes were at a quick pace since August 2007.

 

According to Bloomberg:

“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”

 

Buyer traffic was very strong this winter. It was stronger than buyer traffic in spring of last year according to the National Association of Realtors.

The only issue is that the market is low in inventory. A good and balanced market has six months’ worth of inventory and currently there is only four months’ worth of supply. There is a decrease in supply of 9.7% compared to last year.

With the inventory being low, prices are high. This is the opportune time to sell your home. Don’t wait for the supply to increase and prices to drop.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

Selling NOW May Get You the Best Price for Your Home

by Elite Asset Management Team

 

If you are thinking of selling, now id the best time to list your home. The inventory is low and demand is high. According to Lawrence Yun, Chief Economist for the National Association of Realtors:

“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”

Natural disasters have also affected the current situation of the real estate market. Yun also said:

“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”

In the August 2017 Realtors® Confidence Index of NAR it states that:

“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”

The inventory of homes is very low. There should be about a 6 month supply of homes but the market only has about a 4.2 month supply which is lower than 4.5 last month.

There are many reasons why the inventory is low. Some may be waiting for the prices to get higher thinking it’s the right move. That could cost them. Now is the perfect time to sell while the inventory is low. The prices and the demand are high. Don’t wait until everybody starts listing their homes. More homes on the market equals lower prices and more competition.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

Closing Costs Surprises Buyers According to Survey

by Elite Asset Management Team

 

More than half of buyers are surprised when it comes to the closing costs required to obtain a mortgage, according to a survey done by ClosingCorp.

They surveyed first-time and repeat homebuyers which totalled to 1,000 and it showed that 35% were surprised at how high the fees were than they expected, while 17% didn’t know they had to pay closing costs at all.

“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”

Bankrate.com gathered data from lenders from all the states in order to show the average costs in each state.

Info below is based on $200,000 homes with a 20% down payment.

 

 

“Closing costs are typically between 2 and 5% of your purchase price.”

Don’t get caught off guard with closing costs. Ask your lender and your agent about closing costs and find out how much you would be paying for.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRES – Senior Real Estate Specialist who can help you navigate thru the process and get the job done for you.

He always makes sure all his clients, both buyers and sellers have an idea of their closing costs. For Sellers he always does a formal net out and for buyers he works with the lender to see what their closing costs will be. In many cases he may need to negotiate the closing costs so that in minimizes the buyers out of pocket costs. Pete Veres has had over 25 years of Sales & Marketing experience, excellent negotiating skills and a proven track record.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

Why Hire A Real Estate Professional? Here’s Why

by Elite Asset Management Team

 

Buying or selling a home is one of the biggest decisions you’re going to make in your life. What most people don’t realize is the amount of work that is involved and also the amount ok knowledge that is required to help you get your home sold. There are rules and regulations to follow and laws to comply with. There are disclosure issues, contingencies to deal with many key steps to negotiate. This is why realtors are licensed and area required to take continuing education.

 

Hiring a realtor to help you will not only make that decision easy, it will also make the home buying or home selling process flow smoothly. You also need to make sure you just don’t hire any realtor. Look for an experienced agent who has a good track record, is a full time agent and designations are very important such as ABR and CRS certifications.

With their knowledge, experience and tools, the will be able to provide you with all that is need for a successful transaction.

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRES – Senior Real Estate Specialist who can help you navigate thru the process and get the job done for you. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

He has a great website full of the latest information at www.NMElite.com

 

Selling Your Home Yourself Won’t Save You Money

by Elite Asset Management Team

 

You may be thinking that selling your home yourself (FSBO – for sale by owner) can save you money on commission, but the truth is you may be losing more.

A study done by Collateral Analytics shows that by selling your home yourself, you don’t actually save more money and that you may be losing more by not listing with an agent.

The study states that “FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

 

Here are some points made by the study:

The kinds of buyers that FSBO attract are those that are most likely looking to buy cheap. Since you’re saving on commission, they think that there’s more room for price negotiation.

Real estate agents are experts when it comes to home staging which can increase the price the home could sell for.

When you list with a broker who is a member of the local MLS, your property is exposed to more buyers and other agents who represent buyers. MLS properties generally compensate buyer agents thus getting them motivated to find buyers for your property. In such cases, with the amount of buyers interested in a property, bidding wars often occur.

 

The study concludes that properties sold by realtors using the MLS have sold at a higher price than those of FSBOs. The price difference is about 5.5% which is a big amount. In 2017, FSBO sold 6% less than those that were sold by real estate agents.

 

It may be difficult to believe but based on the facts, if you really want to save money and sell your home at a higher price with less hassle, get help from a realtor. They have the knowledge, experience and tools to get the job done right.

 

Meet with a realtor like Pete Veres, CRS – Certified Residential Specialist, SRS – Senior Real Estate Specialist who can help you get your home sold. He can provide you with a Free Market analysis when you are ready. Pete Veres has had over 25 years of Sales & Marketing experience and excellent negotiating skills.

You can contact him by calling 505-362-2005 or by emailing him at Pete@nmelite.com.

Here are also some Free Sellers resources. VIP-Seller-Resources

Use a Professional to Get Your Home Sold Fast, Easy, and at the Best Possible Price

by Elite Asset Management Team

 

Every home seller wants to get the best price for their home. Selling a home involves a lot of hassles and stress that can really be difficult to handle. But did you know that the most important thing for majority of home sellers is to just get their homes sold?

As a home seller, you’re probably thinking that by selling your home yourself, you can save money by not having to give a commission. The truth is, you might be losing a lot more by selling it yourself. A real estate professional is experienced, knowledgeable and has the right tools to negotiate, find the right buyers and make the sale hassle and stress free.

As we all know, the advancement of technology has influenced the real estate industry. Majority of home buyers are now using the internet to search for their dream homes. According to the National Association of Realtors, 44% of home buyers went to look for homes online as their first step in their home search. You might be saying that anyone can post their homes online and advertise it themselves, but having a real estate professional with the right marketing tools and experience  can get your home seen almost anywhere online and monitor it to get better results.

According to the same report, 96% of buyers who searched online either used an agent or broker to purchase their home. Majority of buyers are using real estate professionals to find the home they will buy, educate them, negotiate the terms and price.

Over the years, the number of people who opted to have a realtor work with them has increased. Being a seller, you are in a bit of disadvantage when you deal with realtors who represent buyers if you don’t have the experience and right knowledge.

Having a professional by your side to help you sell your home is a very wise decision. Their knowledge and experience will get you the results you want.  For a quick look at one of the top agents in the Albuquerque area go to www.TopAbqAgent.com

 

 

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Photo of Elite Asset Management  Real Estate
Elite Asset Management
RE/MAX Elite
8300 Carmel Ave. NE Ste. 201
Albuquerque NM 87122
(505)362-2005
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"Professional and Knowledgeable about real estate in the area, patient with difficult customers like me and my wife (who occasionally wanted very ... more "
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by rezaarghavani
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"We interviewed the top 4 realtors in our zip code and Pete was at the top of the list. His presentation was professional and well thought out. ... more "
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by chuck tabbert