Uploaded on Nov 3, 2010
http://www.yourcoach.com Real estate training. In this coaching video, real estate speaker Coach Tom Ferry takes you through the right questions to ask when your showing clients a home. These questions are geared towards you closing a sale and making more money in real estate
Real estate training http://www.yourcoach.com In this coaching video, real estate speaker Tom Ferry challenges you to up your game and start to engage potential and sellers in this market. These people now are much more knowledgeable consumers … so what are you doing differently to be the broker of knowledge?
Home truths: Know before you buy BUYER BEWARE Even in a favorable market, house hunters should be cautious.You can’t get more direct than this e-mail we received from Maria Rosenfeld of Miami: “I’m a first-time home buyer and need help on getting started. I don’t know how to buy a home. What are the steps I need to follow?
”Even if you’ve been in the real-estate game before, today’s market is confounding. An estimated 1.1 million homes are in foreclosure, the most since 1979. And it’s not just subprime mortgages that are a problem; the default rate for borrowers who qualified for prime loans is climbing as well.
“Buying, selling, remodeling” offers advice for consumers who face a variety of scenarios in today’s fragile housing market. Sellers are obviously in a tough position. And we’ve been hearing how great it is to be a buyer right now and how it may be a good idea for investors to pick up a house or two while prices are low. I turned to our finance editors at Consumer Reports, our finance advocates at Consumers Union, and experts at other consumer groups for their advice. They had strong words of caution.A home is to live in. For most people, seeing real estate as an investment that will surely appreciate is risky business.
For one thing, while prices are already down in many parts of the country, they might go lower. So the cheap house you buy now could still sink in value. And while we’ve become accustomed to 6 or 7 percent returns on real estate, historically prices have just kept pace with or barely exceeded inflation. It’s probably wise to buy a home you want to live in rather than an investment with four walls.Choose your mortgage (and your broker) carefully.
The mortgage broker may be more focused on selling you a mortgage than on getting you the best deal—that’s your job. Find out what you can afford and the best terms for you; up to half of borrowers who took a subprime loan would have qualified for a conventional mortgage with better terms. Start by going to www.bankrate.com or www.hsh.com for worksheets.
Don’t count on refinancing out of a bad loan; falling home values could prevent that.Search on your own terms. Once you have a clear idea of your budget, your hunt should be easier. Consider an exclusive buyer-broker who will represent only you, not the sellers. Nonexclusive real-estate agents tend to show you their own listings first, since they won’t have to share the commission if they represent both the buyer and the seller.
Then they’ll probably show you their firm’s listings, since they stand to gain from those sales as well. It can help to search online first and target some homes that might be right for you, no matter who has the listing.
What Is A Real Estate Agent?
What Is An Exclusive Buyer’s Agent?
Why Use An Exclusive Buyer’s Agent?
The Case For Buyer Agents
How Do I Find An Exclusive Buyer’s Agent?
National Assocation Of Exclusive Buyer Agents
Real estate glossary
Learn About Different Types of Buyer Agents
An Exclusive Buyer’s Agent or EBA is someone who is an expert in the buy-side of a real estate transaction. Just as you would see a cardiologist for your heart or would hire an electrician to wire your home, an EBA is a specialist in the real estate industry. Most NAEBA member EBAs have years of experience and have learned to strongly negotiate on a buyer’s behalf, what to look for when viewing a property, and how to overcome obstacles that a buyer may face along the way.
Exclusive Buyer’s Agents give buyers their undivided loyalty. Most real estate agents and buyer’s agents work in traditional brokerages that take listings. Because of that, they have an inventory that they must sell. In addition, if that brokerage brings both the buyer and the seller into the transaction, they get to keep the entire commission, making the transaction more profitable. These can be strong incentives to steer a buyer to one of their own listings. It also means that their buyer loses many of the benefits of hiring a real estate agent including negotiating on his behalf as well as the agent’s ability to point out reasons why the buyer might not want to purchase that particular property. Since Exclusive Buyer’s Agents must work in a brokerage that only works with buyers and never takes listings, a buyer can rest assured that the EBA will remain on their side throughout the entire transaction, getting the buyer the lowest price and the best terms possible.