Simply Junior

Thinking of buying a piece of real estate or perhaps selling your existing home? The real estate scene has experienced some record setting fluctuations. The rapid price increases of a few years ago have slid down, just as surprisingly. The average home buyer or seller may be scratching their heads right now.

Here are some tips for negotiating the choppy waters of the real estate world.

1. It’s still a buyer’s market. Due to the problems within the mortgage industry as well as a less than cheery employment picture, there are still a stockpile of foreclosures.The low cost of foreclosures spills into the traditional resale market, making homes more affordable than they have been in many years.

2. First time buyers are especially in luck, as there are still government first-time tax credits to be had. This helps those trying to sell their homes, as well, because more buyers will be shopping for a home.

3. Interest rates on real estate are still at a decent rate. The low rates will enable more people to qualify for a mortgage, which is good news for both buyers and sellers. Owners will want to look into refinancing, if they have an adjustable rate mortgage.

4. Homes on the lower end of the price scale are the most popular right now. Many investors are grabbing them up for cash. If a home buyer is interested in the low cost homes, they should be prepared to pay full price and to have a bit of competition. It’s not a reason to give up, just a reason to be prepared to work a bit to gain your inexpensive first home.

5. Home sellers must realize that they can’t price their homes as competitively as the short sales and foreclosures. Short sales are arrangements with lenders to take less money than the belly-up loan, but these often take months to complete. Foreclosed homes are often in dreadful cosmetic shape. A smart home seller will make their house’s sale as quick and painless as possible in order to gain momentum on the short sale market, and spruce up their dwelling to make it outshine the foreclosures.

6. If a seller can hold out another couple of years, it would be a wise choice. Even now, prices are at an all time low. Once the stockpile of foreclosures has been run through, the price-tag on resale homes will begin to climb.

The real estate market may be bumpy, but it can still be successfully maneuvered with a bit of gumption and perseverance. Where there’s a will, there’s a way.

There really are a lot of real estate agents. People get the idea that it is possible to make money acting as real estate brokers and getting a big commission when a sale is concluded. If you are thinking of investing in Utah real estate or Provo real estate, where there are plenty of buyers and big time deals, you are going to find even more agents than normal. In some desirable parts of the country it is hard to kick over a rock without a couple of real estate agents scrambling out and handing you a business card.

You don’t need just a real estate agent; however, you need a reliable one. How much commission the agent makes will be of no concern if your own needs as a buyer or seller are met. You can listen to people when they refer you to a relative or friend who dabbles in real estate. If you do, remember that personal friendships and family are fine but a real estate deal is a serious business matter. What you should be looking for is an indication of past success. You should be looking for signs of someone who has a high energy level, and is working a viable marketing plan. The active and energetic agent will be active and energetic for you, also.

The initial evaluation and first meeting with a prospective agent is extremely important. Try calling the agent, and making a note of how quickly your call is returned, and how urgently it is handled. Listen carefully to your agents plan to market your home, or if you are buying how they will go about locating what you are seeking. People skills are vital to a real estate agent. If they inspire faith and trust in you, you can be pretty sure they will in the other party as well. You should get the feeling you are the most important client the agent has, even if you see signs they are very busy.

When you focus on what the role of the agent or broker really is, it is easy to get a clear idea of what you should be seeking. The role of the agent is to bring together buyers and sellers, and to guide the negotiations to a mutually satisfactory conclusion, but making sure your best interests are considered. The measure of reliability in a real estate agent is not measured by the size of his commission, but rather by the level of your own satisfaction at the end of the deal.

While the term “real estate” may have had its roots in medieval times, when all land was considered the property of the monarch, and therefore of the “royal estate”, today real estate refers to land, and its natural resources like water, minerals, and timber, and any improvements which have been made on it.

But the value of real estate in the 21st century is now seen as more than a parcel with resources and improvements; it is seen as a sound investment. Because people will always need shelter, and buildable real estate is a limited commodity, the value of real estate only appreciates over time as the world population increases. Real estate is one of the best inflation-proof investments in existence.

Real Estate Professions

There are numerous professions within the real estate industry, and they all center on the buying, selling, and maintaining of property. They include property appraisers, real estate brokers, land developers, property managers, and relocaters.

Property appraisers assess real estate and assign it a fair market value before it is placed on the market; real estate brokers act as go-between for buyers and sellers; land developers add improvements like roads and buildings to land; property managers will oversee the proper use of the land and its improvements; and relocators help those who are moving their families or businesses to another part of the world.

Real Estate Negotiations

Someone interested in purchasing a particular piece of real estate will eventually have to negotiate a selling price with its owner. Real estate price negotiation is as much of an art form as the ancient art of horse trading, and the approach which one takes to a real estate price negotiation will depend on the circumstances.

If you have not signed a contract with a real estate broker to negotiate for you, or you are buying a new property directly from the developer, you should first of all not appear overly anxious to get the property. First clarify the asking price with the seller or developer; and when you are sure exactly what is included, say that you need a few days to think it over.

If you are working with a real estate broker, indicate that you are looking at several properties, and then make an offer of below the quoted asking price, saying it is close to what you are willing to pay but there might be room for negotiation, depending on what you hear about your offers on other properties.

You should always make your offer twice the amount lower than the asking price that you are actually willing to pay, so that you and the seller can meet halfway. If you want the seller to come down 10%, make your offer 20% less than the asking price.

And always make sure to get in wiring that you are buying the property “as is, where is,” when you have settled on the price and are drawing up the selling agreement.

For decades the real estate world turned in a very predictable manner. The roles of the buyers, sellers and real estate professionals were well defined and the real estate transaction followed a distinctive pattern. It would be an understatement to say that the real estate market has gone through some changes in the last two years. Along with these changes – the dynamics of real estate have been redefined thanks in large part to the internet. With the help of the World Wide Web, buyers and sellers have become more empowered thus enabling them to buy and sell with more ease.

As technology advances, the real estate industry is transforming itself from agent centric transactions to consumer centric practices. With the help of the online industry, consumers now have more real estate knowledge, tools and resources at their fingertips than ever before. According to the National Association of Realtors (NAR), more than 72 percent of homebuyers now begin their home search online. Thanks to the Internet and other technological innovations, more real estate information is now freely available. As a result, consumers are demanding more choices, improved services, faster transactions and lower prices.

Buyers are not the only ones that are benefiting from the internet. With the downturn of the housing market the last thing sellers want to do is pay a hefty commission. More and more sellers are taking a stand by not wanting to pay the sales commission that an agent would command. This is understandable, as it will save you roughly 6% in commissions…which can easily be more than ten thousand dollars.

For example, if you sell a home for $250,000 you would traditionally pay your agent $15,000…the buyer’s agent gets 3% ($7500) and the seller’s agent (your agent) gets the other 3%. The buyer never pays any commission; that burden falls completely on the home seller. It’s no wonder that sellers are opting to sell their properties independently, without the help of an agent. This explains the increase in the number of For Sale by Owners. Sellers who are not affiliated with an agent make up a large part of our market today.

So what makes a seller think they can sell their home on their own? The answer is the internet. The internet allows sellers to market their homes to millions of people with just a few clicks of their keyboard. Pricing information, Comparative Market Analysis and Recently Solds can all be available on the web for the sellers who choose to list their own homes. Years ago – agents were the must haves for this kind of information, but this is no longer the case; simply put – the face of real estate has changed. Therefore, if you have the time to sell your own house and you are interested in saving thousands of dollars…then go ahead and take the plunge. You will be happy you did.

Literally translated “Feng” means wind and “Shui” mean water. Deeply rooted in connection to nature, Feng Shui is the 4000 year old Chinese are of placement and philosophy that supports living in awareness and harmony with our surroundings.

As the awareness of Feng Shui increases, more real estate agents are being asked to show buyers homes with “good” Feng Shui. If a real estate agent has knowledge of this ancient and highly respected design philosophy will assists him/her to:

Increase the value, marketability, and emotional appeal of a home. Build confidence with Feng Shui savvy buyers and sellers. Provide solutions to remedy a home’s Feng Shui energy challenges. Build referrals by selling “Feng Shui friendly” homes that support the well being of your clients and their sphere of influence.

This section will explain the 5 Feng Shui tips for your references.

Tip 1 : Main Entrance



The main door is like the mouth for the house. It is the gateway between the world and the privacy of the home and air currents literally enter and exit at this point.

The positioning of a main door can determine the fortune or misfortune of the occupants. Therefore you must keep the entrance clear of any clutter to allow the energies to flow freely. Make sure there is nothing in direct alignment with the door such as a tree or telegraph pole. To remedy this place a Bagua mirror over the door so it is reflecting the Sha Qi. Avoid facing a dark, pokey room, an interior staircase, mirror, stove, sink, fireplace, the door of a toilet, laundry, bathroom or bedroom. To remedy this keep the doors closed or place a screen between the doors.
Tip 2 : Bedrooms

Bedrooms should be sacred spaces where an adult or child can retreat and regenerate. Most people spent roughly one third of their lives in their bedroom, so maintaining balance and serenity in this area is essential.

Tip 3 : Kitchen

In any case, it’s better if you don’t see the kitchen immediately upon entering the house, as this can portend digestive, nutritional, and eating problems. Having the kitchen at the entry point can also mean that guests will come over and eat and then leave immediately, and such a placement can also encourage the inhabitants to eat all the time.

Tip 4 : Windows


A house should have sufficient windows. Windows are in very important to allow sufficient light or pleasant views into the room.

Tip 5 : Dining & Living Room

Whenever possible the dining room should be separate from the living room. It is a social area for family members, thus it better to have as big as possible.

Summary

So with the above tips, you as a real estate agent when meet with a Feng Shui savvy buyer, you can use the above tips to talk with them, the chances to close the deal is high because the buyer see you as a knowledgeable in Feng Shui and the property you propose to them must be good in Feng Shui. And Feng Shui is a very good topic when come to a price negotiation with the sellers, agents with Feng Shui knowledge might be able to negotiate a better selling price for their buyers and close the sale.