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.

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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.