Life of a Real Estate Agent

Being a real estate agent is one of the stressful and demanding jobs out there. You need to have patience, passion and determination to achieve your goals. You also need to have the knowledge to close a sale in order for you to get a commission. Real estate agents are responsible for selling and buying a property. For those people who want to get into the real estate world, you have to prepare yourself physically and mentally.

Real estate agent can be a buyer’s agent or a seller’s agent. On the buyer’s side, the buyer will hire an agent once he has obtained proof of funds or pre-approval from the bank. The agent then will negotiate and do counter-offers with the seller’s agent. Once they have reached an agreement, escrow phase begins. Escrow closes once a new deed is recorded in the buyer’s name.

On the seller’s side, he’ll hire an agent (seller’s agent). After checking the title, property inspection, the agent will list the property in the MLS (Multiple Listing Services) and other listing sites. Once listed and there’s a buyer, he’ll negotiate with the buyer’s agent. Once they have reached an agreement, same thing will happen, escrow phase will happen and it will be closed once the title is under the buyer’s name.

These are what real estate agents do. They do a lot of paperworks and legwork just to close the transaction. Aside from that, agents are also responsible for administrative task such as completing, submitting and filing real estate documents. Schedule showings are also agent’s responsibility. They are also responsible for creating flyers. Data entry is also their field. They also do CMA or Comparative Marketing Analysis. There are agents who hire assistants to help them with their administrative task.

Real estate agents also does lead generation. They find clients, be it a seller or a buyer to get a commission.

Working with clients closely is their job as well. They need to have open communication with either the buyer or the seller and update them as to what is the progress already. They need to update the buyer if there is something that needs to be changed on the contract, or the seller if they are plenty of offers from buyer’s agents.

There are times that a real estate agent may have sleepless nights just to get his job done. Aside from physical and mental challenges, they really need to have keen eye for details as they are dealing with contract. They need to protect the rights of either the seller or the buyer.

All in all, real estate agents deserve a commendation or even a simple pat on the back if they were able to close a transaction aside from giving their commission. It is very really difficult. It may take weeks or months just to finish the transaction. A simple appreciation and recognition will really boost their morale.

Mortgage: How to Get One

Tired of being denied on your mortgage? Feels like nobody trusts your financial capability in paying your monthly mortgage? Getting a mortgage approval is very difficult nowadays. It takes a couple of weeks or months before you get approval, or most of the time, only to be denied. The long wait is over! Here are some tips to avoid heartbreak from being denied on your mortgage.

Don’t quit your job during application process — BIG NO! Too many people are being rejected because they moved to another job. If you move to another job while the application is being processed, the lender will check if you are still connected with your previous company. If they found out you’re not, then most likely, they will not approve it. Lender wants to make sure that you have a stable job to pay your mortgage. If you are thinking about quitting, you can do that after you have been approved.

If you have a credit card, make sure that you are not a delinquent payer. Yes dear, you can never be a delinquent payer because the lender can do a background check if you are paying on time or not. Because if you’re not, the lender will not trust your capability of paying your monthly mortgage as well. The lender is at risk as it will be a loss on their end if they will approve you. So, you need to make sure that you are paying on time to gain their trust.

Being a co-maker on another loan — avoid this! This is very popular nowadays. If the borrower is unable to pay the mortgage, then the co-maker is going to be responsible for paying the borrower’s monthly dues. You put yourself and your credit at risk if you are applying for a mortgage. Avoid being a co-maker on another loan while you are waiting for your mortgage to be approved.

Large deposit or withdrawal is questionable on the lender’s point of view. Some lenders might think that if you deposit a large amount of money, especially during your application, it could be from another loan or you just borrowed it from someone so that you’ll be approved. If you withdraw a big amount of money, lender might think that you are running out of money from the bank which means that you are not capable of paying your mortgage.

Large purchase is also a big no as well. The lender will doubt your financial capability if you are paying for another property or a luxurious car. What will happen if they approved your application? You, as a borrower, do you have the capability to pay both at the same time? What if your salary is just enough for your car’s monthly dues? How can you pay for your mortgage? You might end up using your savings just to pay your dues, and in the end, you’ll be in debt which is what the lender doesn’t want to happen.

These tips can surely help you avoid the stress of being rejected. So, keep in mind these factors to be successful in your application.

Top Mistakes of FSBO in Real Estate

Have you been a home owner who wanted to sell his own house? Did you have difficulty? It is rare nowadays wherein the home owner successfully sells his house to a buyer, more or less, look for a potential buyer. Most have already given up becase it is too stressful. A lot of FSBO (For Sale By Owner) are not aware on what to do to successfully sell their house. Here are some of the common mistakes made by FSBO:

Price of the house. Some sellers do not know how to price their house. Sellers want to get a good net worth to a point where they tend to oversell the house. They need to be educated that for them to be able to sell the house, they should know how much the property is worth, otherwise, buyers will look for another property instead. Seller need to have his property checked by an appraiser or he can compare similar homes in the area.

Poor Marketing. Some of the sellers are not really good in marketing their house. Marketing is a very big factor for your house to be sold. You might have a beautiful house with a wide backyard and a pool, but if it was marketed poorly, expect only few will approach you to check on your house. Aside from posting a sign board in front of your house, you may need to broadcast it on a newspaper, or list your property on a popular listing website so that you will get more chance on finding the right buyer. You may also use social media as your platform to promote your property. Facebook and Twitter are the most popular ones. A friend might share your post on his wall and his friend might share it as well on his wall which may lead you to a lot of potential buyers. You can use flyers as well to promote your property.

Look of the house. You might get a potential buyer but if your house is not pleasing to the eye, then say buh-bye buyer! As a seller, you should repair what needs to be repaired for your house to be presentable. Paint the walls if the house looks old so it will become more attractive. Make sure that the bathroom, bedrooms and kitchen are clean. For most, these are the most important places in the house. You don’t want your buyer to be frustrated and disgusted because the sink in the kitchen might be dirty or there are dusts in the bedroom. It is a big NO for buyers. Buyers want to make sure that the house they are moving into is worth every penny. So, to make sure they will be impressed, make an effort to make your house look elegant and enticing.

Doesn’t want to pay for agents. I understand that you want all of the sales go to you, seller. But imagine this, what is a few thousands compared to processing a lot of papeworks? Real estate is one of the stressful industry nowadays. Be ready to be frustrated and exhausted because you, seller, will do a lot of legwork. It is not worthy to do all the job yourself when you can have someone who knows the ins and outs of real estate. Hire an agent that can represent you better all throughout the process. Sometimes, being economical is not practical.

Now that you are aware about the top mistakes of a FSBO seller, I’m sure you’ll avoid these to make sure you’ll have a successful sale.

Mond: The Best Rockstar VA

There are plenty of reasons why I am the best rockstar VA. I don’t want to brag, but my experience would be one of my ticket that’s why I consider myself as the best among the rest.

In my 10 years in the BPO industry, I have worked my way up, from an Agent position to being a Specialist and from being a Specialist to becoming a Supervisor.

Why did I bring this up? This goes to show that I am passionate in everything that I do. I give my 200%. I give my heart, I’m all out. My hunger for success is never-ending. I aim for excellence.

Being in the industry has taught me a lot of things. Things that I’m pretty sure I can use as a GVA combined with the training that I received from Myoutdesk.  I  have the skills that I can use to climb my way up to success as a GVA: Independent, resourceful, flexible, has keen eye for details and good communication skills.

You have to be independent because you are going to work with a busy client, they will not be there all the time, so most of the time, no one will be there to help you but yourself. Resourceful because not everything will be provided by your client. There are times you have to research on your own. Flexible because you have to adjust to the demands of your client. There maybe a time you need to render overtime or you might be working with a group, so you have to be ready for everything. Keen eye for details is a must as a GVA because you might be working on a contract, and since this is a legal document, you have to check the details of the contract. Lastly is good communication skills. A GVA has to effectively communicate with the clients to achieve great results.

In addition, I have my core values that can help me achieve my goals and my client’s too. These are reliability, integrity and commitment.

Experience. Passion. Skills. Core values. These are the factors why I am the chosen one.

Future of Real Estate

Having thoughts what the future will be like in the real estate industry? Do you have an idea what will happen in a couple of years from now?

No need to worry. It looks like the future of real estate in the future is very bright. In this age where internet and technology is the key to success, real estate has its place.

Before, it was really hard when there’s no internet connection. Imagine, you really have to double your effort. You have to advertise it on newspaper, ask your friend if someone is interested in buying or selling a house, probably post on a wall, or if you have connections, then you might have the chance of getting a potential buyer or seller.

Now, in this modern age, there are lots of ways on how get a buyer or a seller. On the internet, you can use social media such as facebook and twitter to promote your property. Communication through social media is the ‘it’ nowadays. The prospect doesn’t have to see you right away to be able to communicate. You can also set up a website and post your property on the site. Not only the people around your neighborhood can  see it, but people from all over the states can see it.

It doesn’t end in social media. One way of promoting your property is by creating a video. Not only they can see how your property looks like, but because we’re in the 21st century, they can actually have a feel on how it look like to be at your property. Because of this, the client may have a reduced hours of visiting your property.

The most in-demand now, looking for a property using mobile phones. It is very obvious that people nowadays have phones in their pocket, and what a better way to look for a buyer or a seller is by searching on their phones.

In the next couple of years, we can’t imagine how fast the real estate marketing is. We never know, in the future, maybe the buyer and the seller won’t have to see each other just to close the transaction.

 

 

 

 

 

Myths about Real Estate

 

Horror stories about real estate? I’ve heard a lot of it. There are so many misconceptions about Real Estate. But the truth is, they don’t take enough time to be educated on how real estat works, and how it is beneficial for them to be in this kind of business. These are some of the things that I’ve found out as to why too many people are afraid to enter real estate business:

1.  Real estate is a gamble. Everything is a risk if I may say. But think about this, real estate is something that you can consider as a tangible asset. An ASSET. Yes, you may have shed off money for acquiring a property, but you can also gain in real estate if you will sell the property, especially if the market value of the property becomes high.

2. No Time,  Investing in Real Estate is time consuming. Wrong. If you will learn the ins and outs of the business, you’ll find it rewarding if you will get in to this kind of business. There’s no easy money. You just have to take time to know more about the business, you’ll seee it is not as bad as you think it is.

3. Real estate is for intelligent people. Very wrong. Everyone starts from somehere. If you don’t know anything all you have to do is ASK. Ask the expert. Those people who are in real estate themselves. Don’t get opinion from others who do not know anything about real estate. Of course, they will tell you it’s not for you, because they themselves don’t know anything. If you are really interested, and you have a passion to learn, it is impossible for you not to learn anything about real estate. Be patient and you will earn the fruit of your labor.

So, you see, joining us in the real estate world is not that bad.

Why Customer Service is Important in Real Estate

Imagine when you call your ISP, telling them that you don’t have internet for days, then the person on the other line doesn’t really acknowledge what you say, rude and unprofessional? What would you feel as a customer? I’m pretty sure you will be angry, worst, you might end up talking to his or her supervisor. Or when you go to a mall asking a saleslady to get you a shoe size that woud fit you, and you are being neglected? Isn’t it frustrating? Of course. That’s why customer service is really important. Customer Service in real estate is a must as well. Agents in the real estate is in the business of serving too.

What will happen to agents who didn’t satisfy their clients because of poor customer service skills? I guess you got it right. Their clients will never get their service anymore, worst, they will never refer the agent, or they will share their horrible encounter with their agent. In return, the agent will have a bad reputation in the real estate world.

A realtor has a lot of duties other than buying or selling a property on behalf of their client. For realtors, if you have a good customer service, you should always communicate with your client. They should be up to date of what’s going on. Are they still on the timeframe or they are behind? Communication should be open all the time.

Also, just like others, realtors should give their clients the best customer experience ever. They should be professional when dealing with their clients at all times. Clients mean business so you have to do your part, go beyond their expectation. Don’t make them feel that you are doing your job just because of your commission. You should always make your clients feel that you care for them and you’ve got the best of intentions.

If you are professional, there is open communication, you care and you go beyond their expectation, in return, your clients will get you if they need your service again, plus, they will also refer  you to others. More clients, more profit.