What Every REALTOR® Wants You To Know – Only REALTORS® Have RPR


One of the most, if not the most, critical steps in listing your house to sell is to list it at the proper price. It is a well know fact that property that is over-priced will sit on the market and that is the kiss of death in real estate.

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Determining the listing price for a property is part art and part science. But the National Association of REALTORS® has a program that has boosted the science aspect to a whole new level and that is the NARRPR.

The NARRPR is the National Association of REALTORS® program that puts a vast amount of data into the hands of REALTORS® and only REALTORS® have access to this data base. The data base is the REALTORS® Property Resource and pulls data from many sources, including the data generated by the local MLS and the REALTOR® association.

In a matter of minutes REALTORS® can access this data base to determine a selling price – or buying price – of a property. It also allows the price to be tweaked based on the condition of the property, unusual market conditions in that market or to accommodate a sellers need to sell quickly.

The report also provides a wealth of information about the market in your area and a range for the price of the home.

If you are thinking of buying or selling and would like to see what your home would most likely sell for, please feel free to email me your address, phone number and an email address and I would be happy to send you a complimentary copy via email. Of course there is no cost or obligation for this service.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if i can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

What Every REALTOR® Wants You To Know – Its’ Hard Work Buying A House


Buying a house takes a lot of hard work. That is why having a REALTOR® on your side is a critical step in the buying process. But even then, home buyers will find themselves inundated with tasks that need to be done in order to get to the closing table and moving into the home of their dreams.

Deciding the type of home; the location; if school district is important; how long you plan to live there; if you’re planning a family; travel time to work or grocery stores; and on and on. Its’ also important to get with a mortgage person early on to make sure you qualify for a mortgage and decide which mortgage is the best option for you. And if you are a couple, coming to an agreement of what is important is often times twice as challenging.

All too often when people want to buy a house they search the Internet, and there is nothing wrong with that. But when they find a house that they are interested in they wait until their calendar is clear and then call an agent to maybe look at the property. Often times the property is already sold. Disappointed, they go back to the routine of looking for a house when their calendar is clear and “they have time.”

Finding a house to buy is hard work. It takes a coordinated effort by the buyers and the REALTOR® and it has to be a focal point in their lives. Quite often I talk with potential buyers’ who truly want to buy a house, but if they are renting, they wait until their lease is about up and then start the search only to find out that making it all come together will not happen in a short period of time and they wind up renewing their lease. If you are a current home owner and will be selling your home and buying another, that brings a whole other set of challenges.

But there is a solution to this dilemma. My suggestion is that if you are considering buying or selling in the foreseeable future, talk to a REALTOR® early on. If you are a first time home buyer, a year before you would like to buy is not too far in advance. It doesn’t mean that you will be consumed with home buying for the year, but it gives you a chance to lay the ground work of what you are looking for. More importantly, if there is a blemish on your credit report it will give you time to correct the problem before you try to get to a closing table.

If you are thinking of buying or selling, talk to a REALTOR® who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland

What Every REALTOR® Wants You To Know – Where My Business Comes From


Not a day goes by that I do not receive phone calls, emails or text messages about how their company can provide advertising that will boost my real estate business to unbelievable heights. I will have more clients than I will know what to do with. Not so fast. Let’s take a look at where a REALTORS® business comes from.

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Receiving new clients is absolutely critical to a real estate agent’s business and determining how best to get those clients is an ongoing challenge.

In this day and age the Internet has played a major role in real estate; from listings on the MLS to advertising by agents. The major thrust for agents now is that if you are not spending thousands of dollars advertising on the Internet, you will not grow your business. But it appears that is more hype than fact.

Now let me be clear, the Internet is here to stay and does play an important role in a real estate agent’s advertising. But an agent who puts all their eggs in that basket will be disappointed.

But where do the referrals come from?

As many people know, open houses are not a great source for clients. Statistically only about 7% clients are the result of an open house; yard signs account for a whopping 4%; and floor duty accounts for 3%.

The greatest source of referrals for REALTORS® is from folks like you – 53% of an agents referrals are from past clients and word of mouth from family and friends. Broken down even further, 12% from past clients and 41% from good old fashion word of mouth.

By the way, the Internet only provides 4% of an agents clients.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com. And if you know of anyone who is looking in the Maryland area, I would appreciate the referral.

Roland

What Every REALTOR® Wants You To Know About Pricing Your Home


When you decide to list your home for sale, determining the correct listing price is absolutely critical. Unfortunately there is a lot of misinformation about the “value” of your home.

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There are numerous websites out there that will claim to be able to determine the “value” of your house without ever having seen it. Right there should be a warning sign for everyone. But there is a way to obtain a reasonable selling price of your home and its very easy.

First of all let me explain that there are two basic computerized programs that will determine a price that claims to be the selling price of your home.

The first one – and most widely proclaimed on the Internet – is the AVM method. The AVM method is the Automated Valuation Model. This is the model that is generally used by such websites as Zillow and Trulia. I have talked about these websites before and will not reiterate how misleading and inaccurate they are.

Basically the AVM method calculates a price based on a wide range of information that is public information on the Internet. Such items as sale price of other homes in that area, property tax appraisals, and general ups and downs of the market are factored in. The belief is that if you crunch enough numbers it will provide a truly accurate value. But that is not true. Real estate is a very local matter. What happens in one part of the country or state, or even the county for that matter, has very little effect on any particular home.

To complicate the matter, each of these companies utilize different criteria of how much emphasis their computer model will place on each of the data. This is what provides a wide range of what that websites believe should be the sale price of the home.

To give a demonstration of how wide the AVM models will operate, I checked a property in the Frederick County, Maryland area. The various models ranged from a high of $339,000 with homes.com to a low of $292,497 with zillow.com. That is a range of $46,503 and none of these models involve an experienced, licensed real estate agent looking at your property. If you are a seller you do not want to list too low and lose money in the transaction, but you also do not want to list to high and have your property sit on the market.

Determining a listing price for a home is part art and part science. Anyone in real estate for more than 20 minutes will tell you that. But here is the good news. The National Association of REALTORS® has rolled out a program that enables REALTORS® to utilize a very robust and complex model that will enable REALTORS® to hone in on the correct listing price like never before. The new model is called RVM -REALTOR® Valuation Model. It provides the same access to the public data as mentioned above but it also includes detailed data from the Multiple Listing Service. The icing on the cake is that it allows REALTORS® to determine very precise adjustments to a property based on condition of the property etc. This model is only available to REALTORS®.

If you are thinking of selling or buying, talk to a real estate professional – talk to a REALTOR® – who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland
REALTOR®

What Every REALTOR® Wants You To Know – Contact a REALTOR® Sooner Rather Than Later


What Every REALTOR® Wants You To Know – Contact a REALTOR®  Sooner Rather Than Later

Whether you are buying or selling, having your own REALTOR® is absolutely critical. Yes, you can use the sellers’ agent if you are buying, but why would you.

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The market in Maryland is officially a “neutral market.” That means that it doesn’t necessarily favor buyers or sellers, but the market is trending towards a sellers market – good for sellers, not so good for buyers.

I suggest that buyers who are even remotely thinking of buying a house in the near future, contact a REALTOR® to begin the process. I suggest that one year is not too far out to contact a REALTOR®. Now, a year may be too much time to be actively looking at homes, but this time period can help identify problems with your credit bureau that may need to be addressed. It also allows time to review what amount of cash you will need to come to the closing table

All to often, buyers are renting and they wait until it is too late to find and close on a house and they wind up signing another year lease because they have run out of time.

Working with a REALTOR® will allow you to receive the most current information on the MLS. The Internet is a remarkable tool and one that the vast majority of homebuyers use to find a home they like, unfortunately many of the websites that show houses for sale do not keep their data up to date. This will result in buyers looking at houses that was actually sold months before.

If you are thinking of buying or selling, talk to a real estate professional – talk to a REALTOR® -who can give you the information you need to make an informed decision.

As always, if I can help with any of your real estate needs, please feel free to text or call me at 301-712-8808 or email me at RolandLow1@gmail.com.

Roland