Seller – Page 2

3 Things Realtors Do to Earn Their Commission

April 19, 2016 By Chris

It’s common knowledge that Realtors work on commission. To those on the outside of the industry, it can seem like a fairly easy gig. A Realtor either secures a listing and waits for a buyer to make an offer or he takes a buyer out for a leisurely afternoon of house showings before they make an offer and sign a contract. It’s expected that he will show up at the settlement table and collect his commission check. A Realtor’s responsibilities go well beyond the “for sale” sign on the front lawn though. You may scoff at the commission amount but here’s what Realtors do to earn their commission.

3 Things Realtors Do to Earn Their Commission

Marketing

Once a home is listed for sale, it’s the Realtor’s responsibility to make sure it’s seen by the right people. Each home will need its own marketing plan and it’s up to the Realtor to develop. What may work for a small two bedroom bungalow may not work for a multi-million dollar property and vice versa. Realtor’s also need to front the costs of standard marketing tools (MLS listing, print advertisements, photographer fees).

Research

Before ever listing your home, a Realtor will research similar homes in the area and develop a comparative sales report. It’s also known as “running comps”. This report will help the Realtor set a competitive price and maximize your profit margin. Similarly, a Realtor needs to interview his buyer and find the best potential matches for his client’s requests. Both are not as simple as running a search query on a computer. It requires reading through listings, sales records, and owning a professional knowledge of the area and current market attitude. This can take hours of work that is unpaid until the deal closes.

Leg Work

Many buyers and sellers know an offer is rarely accepted as it stands. Realtors can spend days negotiating and re-negotiating until their clients are satisfied. A Realtor’s job isn’t finished once the offer is accepted, either. It’s now the Realtor’s responsibility to draft the agreement of sale, have it executed, and delivered in accordance within the customary time frame. A Realtor will help organize and attend inspections, appraisals, and surveys. He may also communicate and resolve issues between the mortgage lender, title company, and/or other party to the contract.

This is a brief overview of what a Realtor does day-to-day. Of course, he also answers all of his client’s questions and helps reassure his client when things don’t go according to plan. And that commission check he receives at closing doesn’t go directly into his pocket. All of the costs that were put out upfront will need to be paid out of the commission in addition to the brokerage fees agreed upon between the Realtor and his broker.

What We Sold In 2015

December 29, 2015 By Chris

As we get ready to close out the new year, our team took a look back at all of the accomplishments we experienced over the year. It was a busy year to say the least and we worked with a myraid of Buyers and Sellers from across a wide range of backgrounds and locations to help them find the home of their dreams or move on from a house that no longer met their needs. We’ve rounded up a few of our favorites house that sold in 2015 to showcase not only some of the best homes the Tampa Bay area has to offer but also the varying properties and neighborhoods we are experienced with. You can click on each of the main pictures for the full listing.

First we have this brand new, luxury home in the history Old NE neighborhood of St. Petersburg. This home featured a sleek, modern asthetic with four bedrooms and four baths. Master bedroom suites were located on both the first and second floors and the kitchen boasted a Viking applicances, quartz countertops, soft close cabinets, and a pantry room. Our Buyer was elated to call this “home”!

What We Sold in 2015

Our Buyers may never need to go on vacation again after buying this spectacular resort-style home in Odessa. In addition to the open floor plan, three-wing lay out and five bedrooms, four baths, the home featured a screened-in pool, direct access to Lake Armistead, a private dock, and lush landscaping.

What We Sold in 2015

Don’t judge this property by its size because inside is a magnificent three bedroom, two bath home. With neutral and simple decor throughout, the home has a light and airy feel. The kitchen featured newer cabinets and stainless steel appliances. Wood flooring was found throughout the common areas. It’s a little gem tucked away in Tampa.

What We Sold in 2015

This listing in St. Petersburg was a dream come true for any entertainer. The kitchen would make any chef jealous with its stainless steel appliances, ample granite countertops, breakfast bar, and cherry wood cabinets. French doors led outside which featured pristine landscaping that also afforded privacy, outdoor lighting, a lanai with Jacuzzi, and separate wooden deck further back on the property with waterfront views.

What We Sold in 2015

We wish all the best to our Buyers and Sellers and thank them again for choosing to work with our team this year. If you’re resolving to buy or sell a home in 2016, please reach out to our knowledge and experienced staff who can help you reach your goal this year. Our phone number is (727) 642-9107.

Should I List My House During the Holidays?

December 8, 2015 By Chris

The holidays are upon us, as if you didn’t already know. If you’re a home owner looking to sell your property, you may be asking yourself “should I list my house during the holidays?” It used to be that Realtors would recommend against putting your home on the market or renewing a listing during the busy holiday season. The thought that you should wait until early spring to list when more Buyers would typically be available is beginning to waver though.

Supply and Demand

If you list your home during the holiday season, typically from November through January, you’re likely to be part of a smaller inventory of homes available. Fewer homes for sale mean that your house will be seen by more Buyers. This means you have a better chance of securing a Buyer and the sales price you’re asking.

There is always a Buyer

People move more often for their careers then they ever have and January is typically the month you will see career changes take place for employees. This means there are Buyers looking for a new home during every time of year, including the holidays. Online search engines and cell phone apps make it even easier for Buyers to keep looking no matter what they’re doing. Some Buyers may need to buy a property before the end of the year to take advantage of tax credits. All of these reasons make for motivated and serious Buyers.

Staging

The buzzword in listing advice is “staging”. Staging, in part, means you remove your personality from the home to allow Buyers to envision their personality in the house. Staged homes sell faster than non-staged homes. Many home owners need to store personal items and give their homes a deep cleaning before they decorate for the holidays which in effect is staging. Holiday decor can make your home inviting and relatable. Just keep the Grizzwold-motif in the garage until next year.

Take action

If your home has been on the market for a while and you haven’t received an offer that you’re willing to accept, meet with your Realtor to come up with a plan of action. Take the showing feedback seriously and if there is a common theme consider making changes to address the concerns of potential-Buyers. This may mean making a repair or reduce the price. Make the necessary changes and push hard to let the market know.

The holidays don’t have to put a pin in your plans to sell your home. There will always be Buyers and they will have less of an inventory to choose from which bodes well for your as the Seller. You also have the ability to limit showings during the actual holiday or when you plan on hosting a gathering. Buyers understand that the holidays are special to most people and are more flexible to see the house on the Sellers terms. So if you’re asking “should I list my house during the holidays” the answer is yes.

What We Sold During Summer 2015

September 22, 2015 By Chris

Summer is almost over and it was a busy season for our team. We worked with so many great Buyers and Sellers and helped them make some amazing houses “home”. We’ve rounded up some of our favorites to share with you. Let’s take a look at what sold during the summer. You can click on each of the main pictures for the full listing.

First up is this home in the Brighton Bay Community in St. Petersburg. It features 3 bedrooms, 2 full baths, light and airy decor and wood floors. The kitchen is just one of the highlights with lots of countertop space and a breakfast bar.

This house screams “Americana” with its tradition outdoor style. Inside the home is resort-like with a master bedroom suite that caught the attention of a lot of buyers but only one walked away with the keys.

If these walls could talk! A piece of history nestled in the Greater Woodlawn section of St. Petersburg. The house was built in 1922 and featured 4 bedrooms, hardwood floors, and even a claw foot tub. It needed some work to bring it back to it’s original splendor but that didn’t stop one lucky buyer. This house went from listing to closing in just three weeks!

The house defined “turn-key” ready. The open floor plan house was freshly painted, had updated windows, a bright and airy kitchen, large backyard ready for outdoor entertainment and a neutral decor that was easy for any buyer to put their stamp on.

Waterfront living never looked so beautiful. This five bedroom home seemed almost too good to be true with a new roof, private dock leading to Lake Armistead, a boat lift, swimming pool, gourmet kitchen, and large areas for entertaining guests. It was truly a one of a kind home.

We wish all the best to our Buyers and Sellers! If you’re looking to buy or sell a home, contact our team today at (727) 642-9107.

Seller’s Closing Checklist

August 25, 2015 By Chris

You’ve found a buyer for your house and the contract is signed. Congratulations! You may find yourself looking around and wondering “now what?” We have the answers you’ll need to get from contract to closing table. Follow our Seller’s Closing Checklist for a guided and smooth closing process.

After Signing the Contract

Provide the name of the mortgage company(ies) and account number(s) to the closing agent/title company so they can obtain the necessary payoff information.
Notify the HOA or Condo association of the tentative closing date and if there any processing fees to change their owner records and obtain copies of the bylaws.
Schedule the survey.
Schedule the home inspection with Buyer’s agent.
Schedule the occupancy inspection with local municipality.

Four Weeks Before Closing

Schedule movers or make moving truck reservations.
Begin packing.
Make repairs agreed upon during the home inspection process.

Two Weeks Before Closing

Contact utility companies and arrange final readings and provide a forwarding address for the final bill.
Request a change of address with USPS.
Cancel or transfer reoccurring services (cable, pest control, landscapers, etc.).

One Week Before Closing

Confirm closing date and time.
Schedule Buyer’s final walk through.
Complete packing.
Clean the house.

Day Before Closing

Review preliminary HUD-1 settlement statement.
Provide final utility readings to the closing agent/title company.
Complete final walk through with Buyer.

Day of Closing

Empty the house of your belongings.
Complete one last sweep of the house, making sure to check all cabinets, closets, and drawers.
All titled owners to the house need to attend closing.
Provide keys, garage door remotes, and any other pertinent information to the Buyer.
Once closing is complete, cancel or transfer your homeowner’s insurance.

Take a look at our moving timeline as well!

5 Home Selling Safety Tips

August 11, 2015 By Chris

Imagine you invite a complete stranger into your home and give them almost unlimited access to every room, all while you’re not there. It sounds like a crazy scenario, right? That exact scenario is what will happen when you list your home for sale. Completely strangers will walk through your door and imagine living in your home and the majority of sellers think nothing of it. The idea that a “for sale” sign out front provides you with a sense of security is one that you should re-examine.

The majority of potential home buyers are legitimate and looking for nothing more than to find their new home but there are those people who look for an opportunity to take advantage of the access a home for sale provides. With that in mind, we have five home selling safety tips for you to follow when your house goes on the market.

Valuables. This is the most obvious tip. Secure your jewelry, computers, hard drives, cameras, and any other items that are either valuable or irreplaceable. Some sellers choose to take these items out of the house for each showing while others will ask a trusted family member or friend to hold on to them until the house is off the market.

Medications. Prescription medication abuse is a serious and fairly common form of drug abuse. It’s best to secure any prescriptions behind lock and key or remove them from your home during showings. Many prescriptions are difficult to replace before the next refill is due because of laws designed to prevent abuse. Other over the counter and behind the counter medications can be used to make street drugs and you may want to consider hiding these with prescription medications as well.

Personal Information. In addition to making your house look neat and clean, you should file away any paperwork that has credit card numbers, billing information, and identifying information to deter anyone who may be tempted to commit fraud using your name. You should also put away information related to your children’s schools or daycare.

Showings. All showings should be scheduled through your Realtor’s office. Never allow a person into your home that you weren’t expecting or who simply knocks on your door after seeing the sign in your front yard. All potential buyers should be accompanied by a Realtor during a showing.

Protect the Buyer. Make sure your home is free from obstructions that may cause injury to any visitors. Sidewalks and driveways should be level, bushes should be trimmed back from doorways, and pets should be secured in a crate or taken out of the home during showings, for the safety of both the buyer and your pet.

If you ever feel that a situation isn’t right, call your Realtor right away. Being cautious is always the safest course of action.

What Is Radon? And Should I Be Worried?

June 2, 2015 By Chris

Over the course of buying or a selling a home, you may hear about radon. Many people may ask “What is radon?” and “What’s the concern?” Radon is a radioactive gas that is virtually undetectable by our five senses. It’s the by-product of radioactive decaying uranium found naturally in rock, soil, and water. As the uranium breaks down it releases radon gas which rises through the ground into the air. It can also be dissolved into water.

Should I be concerned?

According to the Surgeon General, radon is the second leading cause of lung cancer among Americans, just behind smoking. Breathing radon gas and in some cases drinking radon in water over an extended period of time increases a person’s risk for health complications. The EPA has stated that any exposure over 4pCi/L is considered high and should be avoided. Uranium can be found in the ground in all fifty states and therefore so can radon. The EPA has classified the country into three zones depending on the levels of radon found in the area. Florida is classified mostly in zone 2 with a few counties listed in the higher zone 3. Radon gas can enter a home through cracks in the foundation, windows, utility fittings, and sump pumps.

What should homeowners do?

Homeowners and buyers should both educate themselves on radon. If a homeowner is considering selling their home, they can have the home tested prior to listing. Sellers should be aware that any radon testing and their results need to be disclosed at the time of listing. If a person is considering purchasing a home, a radon test can be requested as part of the home inspection. If the results come back 4 pCi/L or higher the EPA recommends that a plan to mitigate the radon be agreed upon. There are systems that can be installed and/or repairs made to the home to reduce the amount of radon entering a home.

While the EPA and Surgeon General have acknowledged radon is a serious issue, it doesn’t spell disaster for a home’s sale. Radon can be found in all types of homes, old and new. Mitigation systems and home repairs and modifications can reduce the levels in a home making it safe for occupation and an attractive property to market.

Breakdown: Closing Costs Explained

September 16, 2014 By Chris

The day has come…it’s time to close on your home. It doesn’t matter if you’re the Seller or the Buyer; a real estate closing isn’t cheap. When you sit down at the closing table you’ll review and be asked to sign a HUD-1 Settlement Statement. This document itemizes every single charge and fee involved in the transaction and identifies who is paying for what. It can be overwhelming to see all those numbers and line item description. Below we’ve broken down the most common closing costs and fees you’ll see.

Commission (Seller)

Realtors earn their pay only when a property transfers owners at settlement. The amount of commission is calculated based on a rate previously negotiated by the Seller when the property was listed (usually 6% of the sales price).

Mortgage Fees (Buyer)

Mortgage fees vary widely from lender to lender. The most common charges you’ll see are “appraisal fee”, “credit report”, “processing fee”, and “origination fee or charge”.

In addition to these fees, there are certain monies the lender will require up front including the daily interest due on the loan from the day of closing to the end of the month, mortgage insurance premium for one year (if your down payment is less than 20% of the mortgage), homeowner’s and flood insurance premiums for one year and property taxes. If your mortgage includes an escrow account for taxes and insurance, the lender will require you make deposits into the escrow account at closing.

Title Insurance (Seller & Buyer)

Next to the mortgage, title insurance is such a crucial part of a real estate transaction. Title insurance protects the buyer’s ownership position (and the mortgage company’s lien position) in the chain of title (ownership). If a previous owner was to come back and try to claim the property was still theirs or a prior mortgage company claims their lien was not paid in full, the title insurance underwriter would defend, and in some instances pay out, on any loss you may experience.

It takes a lot of work to issue a clear title at closing that’s why you’ll see charges on your settlement statement labeled “owner’s title policy”, “lender’s policy”, “title exam/abstract fee” and “settlement fee”. Additional fees can be added if the property in located in a Condominium or Planned Unit Development and additional endorsements are needed for the insurance policy.

Recording Fees (Seller & Buyer)

After the Sellers have signed the Deed and the Buyers have signed the Mortgage, the title company will send the documents to the County Clerk’s office to have the documents recorded in the public record. This helps protect the integrity of the chain of title. Each County Clerk sets their own fee schedules so fees can vary county to county.

In addition to recording fees, the State’s Department of Revenue levies a Documentary Stamp Tax on Deeds and Mortgages, among other documents. The rate for Deeds is seventy cents ($0.70) per every $100 of the transaction and thirty-five cents ($0.35) per every $100 of the value of the mortgage. The title company is responsible for collecting these monies at closing and delivering them to the County Clerk at the time of recording. The Clerk will then submit the monies to the Department of Revenue.

Miscellaneous Fees (Seller & Buyer)

The title company and any third party vendors involved in the sale of the property will want to be reimbursed for charges they advanced to get the transaction to the table. These charges can include overnight fees, tax research service fees, survey, wire fees, notary fees, and flood zone research.

Each transaction is different but these are the most common items you will see on the settlement statement. If you have a question about a fee or charge, speak up and ask for an explanation before you sign.

Welcome Home!

Marketing

Research

Leg Work

Supply and Demand

There is always a Buyer

Staging

Take action