Tag Archives: real estate help

What are those designations behind a Realtors name?

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What are Designations?     Are they important to me, the
consumer?    Should I care?

In most cases buyers and sellers get into an agreement with an agent

and have no idea of the qualifications of the agent they have selected.

They might use several sets of criteria to make their decision. This

information may assist them in the decision or at least have them

realize that all agents are not created equal. Some have spent

years educating themselves to assist buyers and sellers.

Four of the more popular designations most buyers and sellers

 should know:        CRS     GRI      e-pro       ABR 

 

 Check to see if your agent has graduated to one of these

designations:    

                                                                      

      The Certified Residential Specialist (CRS) is the highest

Designation awarded to sales associates in the residential sales field.

The CRS Designation recognizes professional accomplishment in both

experience and education.

Since 1977 the Council of Residential Specialists has been conferring

the CRS Designation on agents who meet its stringent requirements.

There are over one million REALTORS® in business today.

So if you want to find that one-in-a-million REALTOR®, start with the

 over 39,000 who hold the Certified Residential Specialist

Designation. CRS is the symbol of excellence in residential real

estate. Our members have proven they have the experience, training

and commitment to be among the best in their profession.

Requirements to become a CRS.

 

Why Choose a REALTOR® With a GRI designation?

Buying property is a complex and stressful task. In fact, it’s often

the biggest single investment you will make in your lifetime.

 At the same time, real estate transactions have become increasingly

complicated.

New technology, laws, procedures and the increasing sophistication

of buyers and sellers require real estate practitioners to perform at an

 ever-increasing level of professionalism.

So it’s more important than ever that you work with an agent who has

a keen understanding of the real estate business. The GRI program

has helped the best and the brightest in the industry achieve

that level of understanding.

GRIs are:

  •   Nationally recognized as top performers in the real estate industry
  •   Professionally trained
  •   Knowledgeable
  •   Dedicated to bringing you quality service

A GRI can make a difference

When you see the letters “GRI” after an agent’s name, you can count on receiving the knowledge and guidance you need to make your transaction go smoothly. In short, you can count on getting the best service available from a real estate professional.

Requirements to become a GRI.

 

The vision for the future of e-PRO Certification is to create a

well-trained, core group of real estate professionals who are

thriving in the on-line-based real estate industry. The e-PRO

Internet Professional belongs to a special community of highly skilled

and continuously trained real estate professionals who collaborate to

enjoy deeper satisfaction and greater financial rewards as the result of

their e-PRO Certification status.

This Program will teach the REALTOR® about Internet business

principles required to remain in the center of the real estate transaction,

including:

  • Options and requirements to Get Connected
  • E-mail Communication and Marketing Practices
  • WWW Marketing Strategies and Practices
  • Creating and Maintaining Personal Technology Plan of
  • Action and your Internet Marketing Plan.

Requirements to become an e-Pro.

 

The Accredited Buyer Representative (ABR®) designation is

the benchmark of excellence in buyer representation. This

coveted designation is awarded to real estate practitioners by the

 Real Estate BUYER’S AGENT Council (REBAC) of the

 National Association of REALTORS® who meet the specified

educational and practical experience criteria. 

Requirements to be an ABR.

 

 Grand Rapids Ada Real Estate  ~ Five Star Real Estate

                                             

 

Should you Remodel Your Home or Move to…….??

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The Question of the Day: Do we Remodel or Move??

Dreaming of a back yard deck addition? Should you spend the money to

add it on or should you sell and look for a home with a deck already added?

Maybe you could get that extra bath since your teenager is in the bathroom

most of time.

 

Deck Pergola

The Wall Street Journal advises in this article: Questions you should

ask yourself before you hire a contractor or call a realtor.

So many things enter into the decision.

 

Sometimes it just gets down to:

Do you like the home you are in well enough to invest money into it?

Even knowing you may never get the investment back. You will enjoy the

improvements (a new deck) and you really don’t want to move. Your kids

like the school system, you are close to your elderly parents, so many

reasons to consider before you decide to remodel or move.

 

In this economy many contractors are more than anxious to talk to you

about improvements and the cost to complete your dream project may

never be lower. With the combination of lower interest rates, contractors

that are willing to complete projects for bargain prices, and the current

market in your area, it may be your best option to stay and invest in your

current home.

 

If you are contemplating a remodel, I would be happy to give you my

opinion on the return of investment for your home.  This is just another

option to consider in your decision.  Please contact me directly.

 

Grand Rapids -Ada Real Estate – Five Star Real Estate

Copyright 2008  All rights reserved

Pricing Your Home is Crucial to the Sale

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Pricing Your Home is Crucial to the Sale

When we sit down with potential clients to list their home, there are so many

issues and hot buttons to discuss.  Inevitably we come to the one where we

really have to agree  to get the home sold quickly and for the most money- 

PRICE

 

Most homeowners want to start high and then come down – if they have

to – to sell.  Of course, they are hoping their home is an exception, it will

sell for more than the market value of all the other homes in the area.

We see this over and over again.

 

If you don’t price your home within the price bracket it will eventually

sell for, you are hurting your chances of selling it for top dollar.  If you

price your home correctly – You are not giving away money!!

 

Money, Money, Money

Money, Money, Money

 

I repeat,

YOU ARE NOT GIVING AWAY MONEY.

 

This phantom money that you think you might get if the one person

comes along who will do anything, pay anything to own your “special”

home does not exist.

 

Let me repeat that  –


The uneducated buyer with money falling out of their pockets,

sprinkled in fairy dust,  so you can make the money you would like to out

of your home sale —– DOES NOT EXIST!!!


You are not letting go of money, you are letting go of the dream

scenario where you get the price that is 25-30% over market value.

It isn’t going to happen.

 

What will happen, is your home will be posted on the MLS, online,

many places where buyers can look at it.  Buyers then compare your

price to others, and say, why would I buy this house??  There are

10-15 others I can look at that are competitively priced and look great.

 

Then….  they are gone.

They don’t come back and revisit your home as an option.

 

Other homes are new on the market to consider.  Yours has been rejected as:

  • too expensive
  • too much work
  • not what they are looking for

 

The first month your home is listed is usually the only month that gets

high traffic.  Some of our sellers will listen, most don’t.

Sadly, two, six, eight months later, we are still trying to get them to

agree to the price they should be listed at, if they want their home to sell.

Chasing this downward price spiral is not the best way to get top dollar

from your home.  When it first hits the market it has the most exposure

and best chance of getting the best price!

 

 

Copyright 2008 All rights reserved

Photos from Flickr Creative Commons photostream

http://www.flickr.com/photos/quinnanya/2904370326

_____________________________________________________________________________

The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in West

Michigan. We believe: Grand Rapids is a Great Place to Live!

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Westbrook Realty Grand Rapids MI Real Estate

Contact Terry   616-292-7263

OUR FLICKR PHOTOSTREAM

 

Yes, Mr 2008 Seller, I would like your house SOLD!

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Mr/Ms 2008 Seller, I would like to have a

heart-to-heart talk about selling your home.

 I know you think real estate sales people are just out for a quick buck.

We want to put a bargain price on your home so it sells quickly which means

 we get our commission check. Cha-ching!

 

This might be the scenario in some cases. Heck, there are bad apples in any

 profession. I have been selling and listing homes for over 35 years and I have

 seen a lot of sold homes and a lot of real estate professionals working in this

 field.  Most of them are nice people who make their living by listing homes

and trying to find homes for people to buy. We offer a service. It might not be

 for everyone – not much is. We have a unique perspective. We work with lots

 of people to sell their home and buyers buying homes.

We know your home is special to you – you live there!

Home Sweet Home

Home Sweet Home

We are here to give you the market conditions for TODAY, whether either

of us likes it or not.  We don’t decide the market conditions – wish we could. 

 We would be happy to have houses selling for close to what they are worth

and in 30-60 days.  We would take that market any day. 

 BUT THAT ISN’T THE CASE TODAY!!

Seriously, I WOULD LIKE YOUR HOUSE TO SELL BUT  I NEED YOUR HELP! 

You need to listen to what I am telling you about the market in your area

and what homes are selling for. The home buyers today are able to get

more information than ever before. They know what the house down the

 block sold for, they know that  a foreclosure home sold in your area for

 much less than the true value, and if you are desperate to sell, they can

take advantage of you.  The average buyer would like nothing better than

 for you to be in a desperate financial situation so they can get your home

at a bargain price. 

 The bottom line is: If you price your home correctly

AND have it in very good condition, it will sell. 

 

Terry Westbrook  – Five Star Real Estate – Copyright 2008  All rights reserved

Photo of Victorian Home Front Door Entrance by Bonnie Westbrook

Buying Foreclosed Homes is NOT FUN

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A Few Buying Tips on Foreclosed Properties:

Be Aware ~ Be Prepared ~ Use a Seasoned Buyer’s Real Estate Agent

The recent downturn in the housing market means that there are more and more foreclosed properties going up for sale, especially in areas which are economically depressed. Although these properties may at first glance seem like a bargain, there are many potential problems that you should carefully investigate. Apart from the usual considerations-did the previous owner intentionally damage the property before abandoning it, etc.-there are a number of under-reported potential issues you should be aware of.

Many of these issues stem from the fact that institutional sellers such as banks are simply not as interested in negotiating as an individual owner would be.

Here are several important issues to understand if you are going to pursue a foreclosed property:

 

1. It can sometimes take weeks for a bank or relocation company to respond in writing to your offer. Build time into your scheduling in preparation for longer delays in the negotiation phase.

2. Banks and relocation companies often have cumbersome contract addenda. Have a real estate attorney ready to review their addenda and give you some insight into the risks involved with their contract. Often banks and relocation companies will back down from their position, but it may not be worth your effort as a buyer.

3. Banks and relocation company addenda often put them in the position of being able to break the contract at will, without penalty, at any point right up to closing. Plan ahead for this risk.

4. In many markets, banks often contract to provide a warranty deed on a foreclosed property, and then when the closing documents arrive they will instead provide a special warranty deed (a lower quality form of conveyance). Speak to a real estate attorney ahead of time to evaluate your additional risks and determine if it is worth moving forward.

5. Often, at closing, the seller will claim that they haven’t gotten all their signatures so the actual closing may need to be delayed another 24 hours. This ends up preventing you from moving into your home on the date you had planned. The seller may unilaterally change your closing date and as a result the seller may not deliver ownership exactly as scheduled. Building extra time into your schedule will help in this situation.

Examples from a recent survey of buyer’s agents include:

“On a recent foreclosure my Buyers and the Bank (the seller) verbally agreed to their offer. We waited 3 weeks for them to put it into writing.”

“Lender taking 2+weeks to respond to an offer. Lender not informing us they are already considering another offer. Lender going to closing without having valid deed. Lender refusing to turn on utilities for proper house inspection.”

Forms of conveyance will vary by state.

What You Can Do

 

Most of these challenges can be overcome through due diligence. Always “read the fine print.” Have a real estate attorney ready to review contracts and give you insight into the risks involved. Occasionally, banks will back down when confronted with legal counsel.

Be sure to build extra time into your schedule:

  • Banks and relocation companies are notorious for dragging their feet.
  • Prepare yourself for long waits during negotiation.
  • Don’t plan to move into the home or start renovations the day of or the day after a scheduled closing.
  • The seller may unilaterally change it and delay an extra day.
  • Don’t assume the transaction will close on time and don’t assume that the seller will deliver ownership exactly as scheduled.

You can read more about buying foreclosures and the problems you probably will encounter here.

Foreclosures Selling Faster? Article

Stripped & Violated – This House Could be Next Door Article

Greater Grand Rapids Area Information

Copyright by Terry Westbrook 2008

Contact me: 1-888-240-1968 x 0 toll free