A Powerful Mindset For Success! – Unclutter Your Mind

Published on Apr 18, 2013

Free Coaching Session: http://www.yourcoach.com/coaching-cal…

Real Estate Training with Tom Ferry http://www.yourcoach.com

In the Developing A Powerful Mindset For Success series, Tom explains how actions you take are dictated by your unconscious (or subconscious) mind. Studies have shown that on average, an 18 year-old has been negativity enforced 180,000 times! These negative enforcements hold you back on making those big decisions that promises bigger return and success. Tom talks about uncluttering your mind of worry so that you can you can be productive. What you need are systems of get

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A Powerful Mindset For Success! – Courage is Power!

Published on Apr 17, 2013

Free Coaching Session: http://www.yourcoach.com/coaching-cal…

Real Estate Training with Tom Ferry http://www.yourcoach.com

In the Developing A Powerful Mindset For Success series, Tom explains how actions you take are dictated by your unconscious (or subconscious) mind. Studies have shown that on average, an 18 year-old has been negativity enforced 180,000 times! These negative enforcements hold you back on making those big decisions that promises bigger return and success. Tom talks about the power of courage and what that one courageous action can mean for your business.

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A Powerful Mindset For Success! – Affirm-Actions!

Published on Apr 15, 2013

Tom Ferry, http://www.tomferry.com, is a real estate coach and trainer. In this video, Tom explains how actions you take are dictated by your unconscious (or subconscious) mind. Studies have shown that on average, an 18 year-old has been negativity enforced 180,000 times! Tom walks you through the steps on how to replace negative unconscious thoughts with positive ones to make those big decisions that promises bigger return and success!

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Understanding Home Buying: Things to Consider

Published on Jan 27, 2015

If you’re getting ready to buy a house, there are a few components that are really important to consider. The first is your budget. Your budget should include enough to cover both your down payment and a comfortable monthly payment. Second, you should consider the actual location of your home and make sure that it includes all the amenities you are looking for. Third, you want to find the type of home that’s going to fit both you and your family’s life styles. A common question that most first time homebuyers experience is where to start. Do you start with the real estate agent or the lender? The first step you need to take in the home buying process is talk to a mortgage company before a real estate agent. This way you can find out how much you actually qualify for, which, in turn, helps the real estate agent narrow down the options of homes to ones that are within your price range. Aside from your real estate agent, be sure to customize your search as well by looking at different websites and apps that will help you find your perfect home. For more tips and advice on buying your first home make sure you visit our website at http://www.QuickenLoans.com/Blog

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Understanding Home Appraisal Adjustments | Quicken Loans Education


Published on Aug 26, 2016
Appraisal adjustments are one method home appraisers use to help determine the fair market value of your home. An appraisal adjustment is the process of identifying recently sold homes in your area and then estimating what those homes would have sold for if they had all the same characteristics as your home. To learn more about real estate mortgage appraisals, visit
https://www.quickenloans.com/appraisal-process

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6 Easy Things You Can Do to Make Your Home Purchase Smoother

Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:

1.) Check your credit. Before you apply for a home loan, regardless of your credit, it’s a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it’s easier to address them before you have found a house, than after you have found a house and are trying to close your loan.

If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances – like a loss of a job or medical bills – let them know so that they understand that it is not likely to happen again in the future.

2.) Get approved before you buy. An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.

Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.

While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them – your monthly income and your monthly debt – and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a prequalification has little value when purchasing a home.

3.) Find a great exclusive buyer’s agent. Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer’s agent, they are less likely to negotiate the best price or contingencies for you.

A buyer’s agent’s job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer’s agent or a seller‘s agent. After spending a lot of time with a Realtor, it’s natural to feel like you’re a team. But if they are not negotiating for you, then they are not on your team.

4.) Learn about the neighborhood. Often times the house you find may be in a neighborhood that you’re not familiar with, which is ok. It just means that you’ll have to do a little more research. If you find a house that you like, ask for a list of the neighborhood properties that sold in the last year. How does your home rank? Is it at the top of the price range? If so, it might be hard to resell. Is it average or on the low end? If so, great – as the other home prices go up in value, they will pull your home’s value up as well.

Check out the schools – are they sought after? A good school district means your neighborhood will always be valued by families which is a great reassurance to purchase, not to mention the value-add if you have school-age children.

Next, contact the police station and obtain crime statistics? Are they acceptable to you? Sometimes, if they won’t give them to you, it could be a cause for alarm.

Talk to the neighbors. The more people you talk to, the better sense you will get of who makes up the neighborhood and how they will effect your time spent in it.

Check out the location of the shopping, police and fire stations, schools, and air traffic overhead. These are all things that might affect your property value or quality of your life.

5.) Protect Yourself. Ask your Realtor for a copy of the documents you will be asked to sign if you decide to buy the house. Read them ahead of time so that you’ll understand the questions that you will be asked, the things you need to know, and the decisions you will need to make.

6.) Have reasonable expectations. There is a lot of money at stake. No house is perfect. Understanding and remembering these two statements will help diffuse the negotiation stage, the inspection stage and the closing stage.

Emotions are high for both buyers and sellers. – The seller may have loving memories and years of sweat equity in the house. Maybe they are being relocated and don’t want to go. Understanding their motivations for selling will help you appreciate their situation and predicament during these emotional times.

There is a lot of money at stake for all the parties involved (and that includes the realtors) – Just remember that market value (the value of a home) is the price that a willing buyer and a willing seller can agree to. If you can not agree on a price, ask yourself: Is there something you missed? Are there comparables that support the price that they want? Are there motivations that might factor into the price they are demanding? In the end, does it matter?

What is the house worth to you today and what do you think you can reasonably sell it for based on the amount of time you plan to spend in it? Think about the answers to those questions before you make your move.

No house is perfect – Always get an inspection. It might be a few hundred dollars, but it’s worth it. It’s the inspector’s job to find any problems with the house that could cost you thousands to repair down the road. Some inspectors have a tendency to over play the importance of their role and the items that they find. Get objective opinions that you trust before making a decision on an inspection report. Likewise, if an inspector says a foundation is cracked but its nothing to worry about – get a second opinion. Ask a handyman for an idea of how much repairs will cost and how complicated they are. The home buying process is an emotional, complex and time-consuming process, but it is worth it. Nothing compares to owning your own home in a neighborhood that you chose.

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How To Get Top Dollar In Any Market

The best chance for selling your property is within the first seven weeks. Studies show that the longer a property stays on the market, the less the seller will net. Below are 5 main factors to accomplishing this goal.

PRICING FACTOR

It is very important to price your property at a competitive marketvalue right when you list it. The market is so competitive that evenover-pricing by a few thousand dollars could mean that your house will not sell. It’s interesting, but your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time.

An overpriced home:

• Minimizes offers • Lowers showings • Lowers agent response • Limits financing • Limits qualified buyers • Nets less for the seller

80% of the marketing is done when we decide on what price to list your home. If you are unwilling to list at current market value, you would be better off not putting it on the market at this time.

CLEAN FACTOR

Most people are turned off by even the smallest amount of uncleanness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is squeaky clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. If you are planning on moving, why not get rid of that old junk now so that your house will appear larger? Make more space.

Odors must be eliminated especially if you have dogs, cats, or young children in diapers or if you are a smoker. You may not notice the smell, but the buyers do! Most agents have a difficult time communicating to their sellers about odor. If you employ an agent to get the
most amount of money for you, please don’t take offense if he must confront you about odor problems.

ACCESS FACTOR

Top selling agents will not show your home if both the Key and access are not readily available. They do not have time to run around town all day picking up and dropping off keys. They want to sell homes! The greatest way to show a house is to have a key! When your home is being shown, please do the following:

• Keep all lights on • Keep all drapes and shutters open • Keep all doors unlocked • Leave soft music playing • Take a short walk with your children and pets • Let the buyer be at ease and let the agents do their job

PAINT & CARPET FACTOR

Paint is your best improvement investment for getting a greater return on your money. Paint makes the whole house smell clean and neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual color, you may need to seriously consider replacing it. Many houses do not sell because of this problem. Don’t think that buyers have more money than you have to replace carpet. They don’t. They simply buy elsewhere.

FRONT YARD FACTOR

Your front yard immediately reflects the inside condition of your house to the buyer. People enjoy their yards. Make certain that the trees are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept. Debris cleared away. Remove parked cars. This all adds to curb appeal. If a buyer doesn’t like the outside, they may not stop to see the inside.

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Common Selling Mistakes

MISTAKE #1 — PLACING THE WRONG PRICE ON YOUR PROPERTY

Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price.

MISTAKE #2 — MISTAKING RE-FINANCE APPRAISALS FOR THE MARKET VALUE

Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value.

MISTAKE #3 — FAILING TO “SHOWCASE”

In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers.

MISTAKE #4 – TRYING TO “HARD SELL” WHILE SHOWING

Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don’t try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions.

MISTAKE #5 – TRYING TO SELL TO LOOKERS

A prospective buyer who shows interest because of a “for sale” sign he saw may not really be interested in your property. Often buyers who do not come through a realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general. If your realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new realtor.

MISTAKE #6 — BEING IGNORANT OF YOUR RIGHTS & RESPONSIBILITIES

It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what your are responsible for before signing the contract. Can the property be sold “as is”? How will deed restrictions and local zoning laws affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money.

MISTAKE #7 – SIGNING A CONTRACT WITH NO ESCAPE

Hopefully you will have taken the time to choose the best realtor for you. But sometimes, as we all know, circumstances change. Perhaps you misjudged your realtor, or perhaps the realtor has other priorities on his or her mind. In any case, you should have the right to fire your agent. Also, you should have the right to select another agent of your choosing. Many real estate companies will simply replace an agent with another one, without consulting you. Be sure to have control over your situation before signing a real estate contract.

MISTAKE #8 – LIMITING THE MARKETING AND ADVERTISING OF THE PROPERTY

There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, realtors often use open houses to attract future prospects, not to sell the house. Your realtor should employ a wide variety of marketing techniques. Your realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch will many potential buyers.

MISTAKE #9 – CHOOSING THE WRONG REALTOR®

Selling your home could be the most important financial transaction in your lifetime. As a result, it is extremely important that you select the realtor that is best for you. Experienced real estate agents often cost as much as brand new agents. Chances are that the experienced agent will be able to bring you a higher price in less time and with fewer hassles. Take your time when selecting a real estate agent. Interview several agents; ask them key questions. If you want to make your selling experience the best it can be, it is crucial that you select the best agent for you.

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Tom Ferry – Blueprint for Real Estate Success Video

BombBomb attended Tom Ferry‘s Blueprint event in Orlando, Florida. Included above is the opening to the event, in which he lays out:- closing 72 more transactions in the next 12 months- reasons for past failures and limitations- setting 3 top goals for the next 12 months- competition, domination, and confidence- why you need a blueprint, foundation, and adjustments to get there- how one small adjustment used over and over produces a huge change in end results- ideas to fill the gaps between here and there (getting into tougher mindset, developing a plan and goals worth fighting for, taking back control of your time, using better technology, having a team, developing better skills, and making real estate fun again

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A TRUE AGENT is one who provides 100% loyalty to his/her clients 100% of the time.

“A TRUE AGENT is one who provides 100% loyalty to his/her clients 100% of the time. No dual agency; no “designated agency”, no “transaction brokerage;” no “Chinese walls;” no weasel clauses!” International Real Estate Directory “ Agency and True Agents” 1995 http://www.ired.com/trueagent/

Source: Buyers Agents, Buyer Brokers, Buying a Home

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