How Buyer Feedback Can Help Home Sellers
A crucial aspect of selling a home is paying attention to the feedback provided by homebuyers and their real estate agents. After every showing real estate agents are usually sent an automated email, which asks for their opinion on a number of things with regards to the house they have just seen. While the email goes to the homebuyer’s agent the information provided to the home sellers can come from both the buyer as well as the buyer’s agents. The buyer’s agent provide feedback based on what their buyers tell them about the home or the buyers can directly provide the feedback if the email is forwarded to them.
Sometimes the buyer’s agents ignore the emails since they may have gone through multiple homes in one day and the buyer’s comments and thoughts can blur together in the mind of the agent. Other times due to the buyers visiting so many homes the agents may provide generic comments about the home that don’t give the homeowner much to go on other than the buyers may or may not be interested in their home.
The helpful buyer’s agent will provide detailed comments and thoughts based on what their clients felt and what the agent also sees. Regardless of what level of commentary is provided home sellers still can use any feedback provided to guide them towards making adjustments in the home’s price, marketing strategy, presentation or more. Failure to take into account buyer feedback can lead to a doomed sale with no offers coming.
Buyer Feedback On Home Pricing
One of the most important aspects of putting a home on the market for sale is ...
What Is Earnest Money In A Real Estate Transaction?
Whether you are buying or selling a home chances are the question of earnest money will come up. Earnest money is not required as part of a real estate transaction. A contract to purchase a home requires and offer, acceptance (by both parties) and valuable consideration. The act of offering to buy a home with money (financed or cash) is the valuable consideration. Earnest money is part of the overall valuable consideration but on its own is not a requirement.
What Is Earnest Money?
The word earnest means “serious in intention, purpose, or effort;”. The earnest money part of an offer to purchase a home shows that the buyer is serious and willing to commit funds towards the home purchase. Generally there is no set amount that buyers should give as earnest money and customs may vary from state to state as to how much should be given. Some areas may suggest giving one percent of the total purchase price as earnest money whereas others may have a custom of giving a couple of thousand dollars or more based on the value of the home being purchased.
When an offer to purchase a home is written the homebuyer has the ability to specify the amount of earnest money to be provided as part of the offer. Generally the earnest money check will be collected and deposited right away upon acceptance of the offer. The earnest money can be deposited with either one of the real estate brokers who are party to the transaction and goes into their trust account. The earnest money can also be deposited...
How Will The New Tax Changes Impact Cincinnati Real Estate?
The recent changes to the tax law will have an impact on Greater Cincinnati, Ohio and Northern Kentucky real estate and real estate in other areas as well. The law makes changes to the tax deductions homeowners and property investors can use. This article explores what the changes are and how they may impact real estate owners in general. As this covers the changes more generally it should not be relied upon for tax advice. Everyone’s tax situation when owning a home is different and for specific tax information related to your situation you should speak with a local tax professional for guidance on what works best for you.
Changes In Mortgage Interest Deduction
Prior to the change in the tax laws married homeowners filing jointly could deduct mortgage interest for mortgages up to one million dollars ($1,000,000.00) in value. A non-married individual or married filing separately could only claim mortgage interest deductions on a mortgage amount of no more than five hundred thousand dollars ($500,000.00). Any interest amounts paid above those limits were not deductible.
Under the new law the mortgage limit is now seven hundred fifty thousand dollars ($750,000.00) for married homeowners filing jointly and three hundred seventy five thousand dollars ($375,000.00) for single filers. Therefore if a married couple have a total mortgage amount in excess of $750,000 they can only...
Great Real Estate Blogs From 2017
With the increase in social media use and the sharing of videos, pictures, audio podcasts and more there is still something to be said for the written word. Whether the reader wants to read something on the bus while headed to work or is taking a quiet break to catchup on the news humans like to read to gain their knowledge. There is no rewinding or fast forwarding to get to the good part of an article. It is all just there for the reader to absorb. Hence I put together this list of great real estate blog articles from 2017 that are must reads for the homebuyer, home seller, home owner and more. Not only are the articles great but the bloggers who wrote the articles also know quite a bit about real estate and are happy to share their thoughts with readers. Check out all the articles in the post below and be sure to read the other great articles from the bloggers mentioned here.
Do You Know What Dual Agency Is?
One of the best blogs of 2017 was Bill Gassett’s article on dual agency. For those who are not familiar with the term, dual agency in real estate is when one agent represents both the buyer and seller in a transaction. Frankly, dual agency is one of the worst things possible for consumers. The only person who benefits from dual agency is the real estate agent who makes a double commission. Whether you are a buyer or a seller when you agree to dual agency you lose the person you hired to represent you!
Here is an example. You hire the best agent in town to sell your home for you. Your confidence is real high in hiring this agent because...