When Selling a Historic Property

Marketing a property with historic or landmark status may draw a greater response than when selling your usual, traditional product. You’ll be working with especially knowledgeable buyers — history buffs — who may be more familiar with the home than you are, and they may have questions that you will need to answer in detail. That means it’s time to study. Facts to memorize (for starters): when was the home built? Have famous people lived or visited there? Have there been any significant changes to the house? Every little detail of the house (“George Washington slept here!”) can attract more buyers, ...

When a Home Inspection Becomes a Deal Breaker

First, an important clarification: a property cannot fail a home inspection. It’s not a pass/fail test. The process is simply an examination of the house’s overall condition, with a report on what might need repair or replacement. The inspection can vary by inspector, and can often lead to different interpretations, depending on who is buying and who is selling. That’s why it’s best for you to be involved in the inspection process, and offer advice and navigation should conflicts arise. You can click here to learn more about how agents can make the most of home inspections. Prepare your clients: a ...

When Selling a House with Mold

Mold doesn’t discriminate; it can attack even the best and most beautiful properties. It loves warm, damp, humid conditions (think bathrooms and basements), and it lives and reproduces by creating spores. Mold is never okay with potential buyers or with the bank. Needless to say, if you’re helping your client sell a house, the mold problem should be resolved before any further steps are taken. Otherwise, you’ll need to disclose the issue or open yourself up to a lawsuit by the new owner. To avoid this: have the mold removed, and then test for any remaining or lingering presence. Mold testing kits ...

When Selling the Most Expensive House on the Block

An incredible house is always a welcoming sight when showing real estate. It could mean a larger commission for the agent, bragging rights for the new owner, and a “mission accomplished” for the seller who poured a great deal of capital into the property. However, love is blind. Make sure to take a look around the neighborhood after the initial excitement wears down. If the other houses are shabby or in disrepair, and if the neighborhood is not exactly known as upscale, the house may be too expensive for its own good. You may want to be the agent who keeps clients ...

Still Hot: The House Flipping Market

Even with the current short inventory for available homes for sale, house flipping continues to be a lucrative incentive for profits. One of the keys to flipping success is the balance of supply and demand — the market your client chooses has to have a healthy dose of both. Of course, the current lack of inventory affects the rule. According to Money, the average flipped house is getting smaller — only 1,422 square feet, on average. Even so, RealtyTrac reports that, in 2016, gross profits for flipped houses was almost $63,000, with a 49.2 percent gross return on investment. The nation’s ...

2018 Real Estate Outlook

As we look ahead to 2018, you should still be feeling good about the real estate industry. A number of important economic factors will continue to make housing a profitable profession, but there are some areas of concern that you should be wary of as you craft your long-term business plans. The following are the biggest takeaways from the real estate market as we begin the new year. A strong economy will continue to drive the housing market The stock market is at record highs and so is the consumer confidence, a strong indicator of whether ...

Video Tip on Mother-in-Law Suites

Often when you’re helping young buyers look for a home, they’ll acknowledge that they don’t need a particularly big house currently. Although they might want more space as more people join their household. Usually the new members will be kids, but sometimes it will be their own parents who decide to move in full-time or part-time to be closer to family in retirement. This video describes the process and considerations that go into building the “mother-in-law” suite, a concept that many of your clients may want to keep in mind as they decide what home to buy.   ...

Video Tips on Crown Molding

  Crown molding is a niche home design subject of particular interest to high-end buyers. There are a number of different materials that can be used for the moldings, all of which come at different price points and some of which require a higher degree of skill to install. This video offers a quick rundown of the key points homeowners should consider before making their decision. ...

How to Turn $1,000 Into a $5,000 Bump in Home Value

Making improvements to a house raises its value. That much is undebatable. But how do you find the best bang for your buck when it comes to renovations? That is a much more complicated conversation. Here are a number of strategies to keep in mind when deciding what renovations to do on a home you’re trying to flip or when advising clients on how to boost their property value. Spruce up the john A new toilet or sink can come pretty cheap but dramatically enhance the aesthetic of the bathroom. Putting in place ...

How to Hire the Right Contractor

Whether you’re seeking a small or large renovation, picking a contractor is not something you should take lightly. This video describes a few tried-and-true best practices for homeowners when selecting a contractor for home improvements, from where to find a quality firm to how much you should expect to pay for the initial deposit. Doing your due diligence during home renovations will not only leave you more satisfied with the result, but it will put you in a better position financially if you ever end up selling. ...