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What Does a Realtor Really Do For Buyers and Sellers?

Wednesday, November 25, 2020
by Tucker Robbins


When you are ready to buy a new home or sell your current one, you might assume that finding an agent to handle the process is not worth the effort and cost. What exactly do these agents do, and how can they be so invaluable to me?  

 

Buyers 

  • - Being pre-approved before you start house hunting is best, and a buyer agent will recommend a lender that will help you begin.  Once you have a mortgage amount, you will know how much home you can afford. 

  • - Realtors® have thousands of property listings at their fingertips! Once you let them know what you are looking for, they comb through those listings and find homes that fit your needs and wants. 

  • - Do you have any idea how to do the research for writing a successful offer on a house or negotiate counter offers you might receive? Your buyer agent certainly does and can save a lot of stress on your part, especially in the case of a bidding battle.   

  • - Your agent will schedule and attend an inspection of the house and will help handle negotiations with the seller to have the necessary repairs performed, have the seller reduce the sale price, or make concessions at closing. 

  • - As exciting as the closing is, it can cause some anxiety, but your Realtor® will have prepared you for what is to come and make sure all of your necessary paperwork and other applicable things are ready. 

 

Sellers 

  • - A listing agent will spend a good deal of time making sure your home is priced comparably to homes in your area by analyzing recent sales of similar homes.  Setting either too high or low can deter potential buyers. 

  • - Not only does the agent prepare and post the property on the MLS (Multiple Listing Service), they will create a page on their website specifically for your listing, video or 3D tours, and market your home to reach as many house hunters as possible. 

  • - Your Realtor® will work diligently to get the best price for your home. Many agents will even go so far as to attend the appraisal and the inspection, warding off any misunderstandings about the findings in each. 

  • - During any repair requests, your agent will be able to discern what is your responsibility, and what is an unnecessary request by the buyer.  Knowing the difference could save the seller thousands of dollars. 

  • - While your house is on the market, you need to know everything that happens behind the scenes, and a reputable agent will stay connected to you, whether it be by phone or in person. Communication is vital to your home’s sale.  

 

If you are buying or selling, connect with a Realtor®. As eager as you may be to go it alone, the legalities and knowledge involved with real estate can cost more money than any agent fees in the end. Not to mention that you cannot place a monetary value on having someone looking out for your best interests during one of the biggest decisions of your life. 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.  

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A List to Create for Potential Buyers

Wednesday, November 18, 2020
by Tucker Robbins


Selling a house usually involves so many things, decluttering, deep cleans, moving belongings to storage, and many more tasks. Once the big jobs are done, and the For-Sale sign is staked out, sit back, and put yourself in the shoes of a prospective buyer. Some questions cannot be answered in photos and home description, so why not jot a few things down to make it easier for someone who would like to buy your property?  

 

Best in the Neighborhood Provide addresses, phone number, and emails for the “best of” the community: 

  • - pizza, veggie burgers, coffee shop, or other places to eat 

  • - nearest parks and recreational areas; include neighborhood sports organizations for children 

  • - lawnmower or auto repair, neighborhood teen that mows grass, local handyman, tree service 

  • - HVAC repair, plumber, electrician, pool care
    - b    anks, dry cleaners, salon, and barbershop  

 

Necessities List the companies in your area that provide the following services: 

  • - electricity, cable, satellite, internet, phone providers, heating fuel 

  • - sanitation pick up, local municipality office, water/sewage, emergency management, health department 

 

Work Performed on Property 

  • - additions, renovations, foundation repair, painting, floor work, roof repairs, snaked/cleared drains 

  • - plumbing, electric, septic/sewer, water pump, well water testing, ductwork repair/cleaning, added insulation, HVAC service 

  • - Cleaned gutters, window/door repair/replacement, tree work, lawn care, garage door opener  

 

Utility Information List average cost of monthly expenses, as buyers sometimes are  curious about them: 

  • - Electric, water, phone/internet, cable/satellite, landscaping/pool care, waste removal/recycling, heating fuel 

 

Finally, create a list of the fun things that happen in and around your community! Share information about local festivals, any farmers’ markets, the annual neighborhood cook-out--anything you would think useful to someone new to the area. Creating these lists may not be necessary, but the information will be ready in case a potential buyer asks. You can never make too much effort to sell your home. 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.  

 

Photo credit: magnolia home inspections 

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Guide to Reading an MLS Listing

Wednesday, November 11, 2020
by Tucker Robbins


House hunting has certainly gotten easier in the 21st century, thanks to the internet. When you first start searching and come across the MLS (Multiple Listing Service), you may be confused by all the information and terminology. Gain some knowledge about how to read listings with this guide! 

 

  • MLS#:  This is the identifying number for the property in the Multiple Listing Service. The top section of the listing will normally feature the address, market status, list date, price, and directions.to the property. 

  • - Status Shorthand:  ACTV: Active, BOMK:  Back on the market, CLSD: Closed, NEW: New listing, PCHG:  Price change, PEND: Sale pending, no contingencies, RACT: Reactivated, TEMP or WDN: Temporarily withdrawn 

  • - CTG: Contingent upon one of the following: 

  • A/I: Attorney Approval/Home Inspection, FIN: Financing, HCnn: Buyer's Home Sale Closing, or HSnn: Buyer's Unsold Home 
     

  • Separate sections share more specific details, such as the home’s square footage, construction date, neighborhood/area, type of zoning, and the number of rooms. Other important details continue with interior and exterior information, types of flooring, as well as appliances included with the sale, type of climate control systems, lot size, and other features/amenities. 
     

  • Remarks:  Here you will read the public description of the property, as well as any extra features the home may have.  
     

  • Say you have already searched and saved a few of your favorites, and suddenly there is a new status code! These codes may be UAG: under sales agreement, CAN: canceled, or EXP: expired.
     

  • If one of your favorites has been canceled or expired, contact your buyer agent to help you find out if the property is re-listed with someone else. 

 

When you contact a Realtor® to assist you with your house-hunting, they will use the MLS just as you have but will have access to more listings and more information than the public.  Share your saved listings with them, and they will sort out all the details, so you have nothing to worry about.  

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.  

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Build vs. Buy

Wednesday, November 4, 2020
by Tucker Robbins


It is time for a new home, but there is a dilemma:  a new neighborhood is in development in an area you love, and the model home is calling to you! On that same note, in an older, established community, you see several houses that would be a great fit for your family. Should you buy an already-built, older home, or go with the brand-new construction, tailor-made for you? Let this guide help you make that decision: 

 

  • Buy: Buying an existing property isn’t an instant process, but it does not take long to get pre-approved for a mortgage, go house hunting and find the house you love, close on the deal, and move in.  

  • Build: According to the latest research from the US Census, new construction takes an average of seven months from planning to moving in.   

  • Buy: Negotiating is key to many home purchases and if a house needs some work or repairs, the seller usually makes exceptions and changes to reflect reasonable inspection findings. 

  • Build: Model homes will be shown with upgrades that can add thousands to the base selling price.  Customizing your dream home, however, cannot have a price tag. 

  • Buy:  What you want in landscaping, such as trees, a garden, or an established lawn, are ready for you to enjoy. Personalizing it with your favorite plantings will cost much less than starting a new lawn and landscaping. 

  • Build:  You may see a brand-new yard as a canvas and plan your own landscaping design.  Where you want trees or outdoor structures are all according to your imagination--the possibilities are almost endless! 

  • Buy:  An earnest money deposit generally starts at 1% of the price of the home.  Closing costs can sometimes be part of the sale negotiations, but not always. 

  • Build: Many builders prefer an earnest money deposit to be at least 5% of the sale price and closing costs do not vary as much unless the builder is offering to cover those costs as a purchase incentive. Just ask--you might receive!  

  • Buy:  Buying an older home may require some work to update wall colors/coverings flooring or fixtures.  Keep in mind that if any of those jobs can be DIY, costs will be significantly lower, and can be done when you have the extra money in the budget. 

  • Build:  A new build may not always be maintenance-free. Whether you are considering a new development or building on your own land, contact owners of the builders’ completed homes and make certain you will be paying for a quality home without new construction issues. 

 

What matters most in the end is your happiness with your new home!  The best thing you can do, however, is contact a RealtorⓇ to represent you as a buyer!  The agent in a builder’s office is there as a service to the builder/seller. Finding a buyer agent is key to helping you decide what is best for you, your family, and your budget! 

 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins.  

 

Photo credit: Cypress Homes 

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Photo of Tucker Robbins Real Estate
Tucker Robbins
Berkshire Hathaway HomeServices
3838 Kennett Pike
Wilmington DE 19807
(302) 777-7744 (direct)
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