Buying and Selling 101

Deciding on a home that you want? First make sure that you understand what you are financially capable of taking on before you start looking. By putting a cap on what you buy, you can greatly reduce the amount of time you look by eliminating areas that are above or below your price range. Begin trying to figure out exactly what you need in the house (e.g. number of bedrooms, bathrooms, pool, etc.).

Check out our Steps In the Buying Process.Next, you should begin making a list of things that you would enjoy the house having. If you can’t seem to make a list like this, try the opposite. Start making a list of things that you want to avoid or do not want in your home. If you are married, you can also have them make a list.

For a more effective list from the two of you, stay separate from one another so your ideas will not be known until you compare. After you have done this preliminary work, contact a realtor and they will help you begin hunting for your new home.

Facts and Myths about Realtors

Facts and Myths about RealtorsAn agent’s company does not provide expense accounts, car allowances, advertising budgets or any other sort of financial reimbursement. Real estate agents are on straight commission. When an agent is showing your home, it is their time and expertise from which you are benefiting. There is a myth that real estate agents earn a “standard 6% commission” when they sell a home. There is no such thing as a “standard commission” - commissions vary from property to property. Any commission is usually split four ways: one half goes to the listing company and the other half to the selling company, respectively. The companies then split part of this commission with the individual listing and selling agents involved in the transaction.