Nov 202013
 

love-referralsWe all could us some extra $$$! Here is all you have to do.

Next time you’re chatting with friends, family, coworkers, etc, and the topic of buying or selling real estate comes up, ask if they’ve been working with an agent to help guide them through the process, even if they’re 6 to 24 months out from doing anything. If the case is they have not or just are not impressed with the ones they’ve been dealing with, tell them you know a great team of agents ready to talk to them about anything real estate. Then send us their contact information and we will take it from there. Once we have successfully represented them with a real estate transaction, we’ll send you a gift card. Now how easy is that? And the bonus is they’ll love you for hooking them up with The Derrick Team. We work hard to keep our clients happy and make sure everything goes as smoothly as we can.

A big thanks to those who have already taken advantage of our referral program. This past year Alice, Noel, Keida, Todd, Tim & Brandi, and Cathy (our referral queen), all received gifts from us. It’s easy for you and you’ll know your referral is in good hands with The Derrick Team.

Call or text us at 317-563-1110 or use our handy Contact form here.

 

Nov 012013
 

Almost ThereYou’ve probably heard the horror stories from friend or had the unlucky experience yourself where you’ve sold your property and then unexpectedly you haven’t. You were making plans to move, maybe already had an offer on another home and now everything is back to trying to sell or buy a home. It’s one of the more frustrating parts of buying and selling real estate, but it happens. So in this article we’ll discuss some of the common reasons and some indicators to be on the lookout for.

There are several items that can require negotiation when selling / buying real estate and each one can be a potential trouble spot. Obviously the starting point is negotiating the price and contingencies in the purchase agreement. An offer with more contingencies is the first warning as that makes more hurdles to get over to finally close the transaction. The Derrick Team takes pride in writing ‘clean’ offers that avoids this when possible. Solid offers mean better chances of closing making everyone in the deal happy.

Problem Spots
But there are usually at least 2 contingencies that cannot be avoided after the price has been agreed upon. First the buyers should be getting an inspection for their own protection and a seller should be prepared for this, even if selling ‘as is’. Once the inspection report is done the buyer can renegotiate getting items repaired or an adjustment to the price. This is a common part where things go wrong as the buyer is in control here and the seller has to be on top of things to keep the buyer happy. If the buyer is not satisfied they can walk away and only be out the inspection costs.

The second contingency kicks in if the buyer is getting a loan, as then the property must be appraised to determine the value meets the loan amount. This can be tricky in today’s market because of the recent drop in home prices in some areas (that’s just now starting to climb again). This is a wild card and again the seller needs to be prepared for this possibility. In some cases the appraiser will point out some condition items of the home that have to be addressed as well, especially if its a FHA, USDA, or VA loan.

A few of the other common reasons are the buyer loses their job, the buyers own house sale falls apart, or the buyer loses interest and walks away (usually forfeits the earnest money). In rare cases the seller suddenly doesn’t want or need to move anymore and does a mutual release to remove the property from the market. In that case the buyer can hire a lawyer but it usually costs less to just go find another home.

For all these reasons and more it pays to have a good Realtor working for you. As mentioned a solid clean initial offer reduces the chance of a deal falling apart.

Being Prepared
A seller should know the general condition of their property and thus have some expectations on what a home inspection is going to turn up. When setting the marketing price that should be a consideration so if needed you can have a little wiggle room to address possible issues. One of the things we guide both sellers and buyers on is that the inspection report should be used to spot potential safety and expensive repairs, not cosmetic issues. But then there is always those surprise issues that show up (mold, hidden water damage, termites, etc) that can change everything.

If the home marketing report is used to set a realistic sales price the appraisal shouldn’t be an issue. But some homes are easier to estimate depending on the types of homes in the area. If there is an issue with the appraisal there are ways to keep the deal moving forward and a good Realtor knows how to do that. But this sometimes is what we call the ‘wild card’.

So a couple of things to watch for from the initial offer are a low earnest money amount (buyer doesn’t have much to lose if they just walk), or a lot of contingencies that have to be addressed before closing. A good Realtor will discuss all these with you and if any of them are a big concern.

Another red flag can be when the lender seems to be dragging their feet on getting the loan approved resulting in multiple delays on the closing date. Again a good Realtor can stay in contact with the lender to see what is holding things up and let you know what your options are if things don’t look good.

What You Need
A smart Realtor stays on top of every deal to make sure no options are missed when things start to go wrong. We at The Derrick Team work hard for our clients to make sure we get deals closed. We advise our clients on possible sticking points to try and eliminate surprises and explore multiple options when there are. We want everybody to be happy when we walk away from the closing table with another successfully closed transaction.

Call or text The Derrick Team at 317-563-1110 when you are ready to sell or buy and know you’ll be well represented in your next real estate transaction. Use our handy Contact Form here.

 

 

 

Oct 072013
 

 

 

2.5 Million sales volume for 2015

2.5 Million sales volume for 2015

RallyAward

The Derrick Team

Aug 222013
 

Derrick Red Ad signYou might think that all Realtors are the same but just like any other profession each individual does things a little different. With Connie and Dennis Derrick you’ll find our ‘different’ is good for you.

We work as Realtors because we enjoy it.
We work harder at this work than others we’ve done before because we like what we do. We really enjoy working with our clients to achieve their goal of selling and/or buying property.

We have experience beyond real estate.
Connie has had her license since 1996 and has years of customer service. She’s often the person who will contact you with updates. Dennis has been remodeling homes for years and has knowledge beyond most Realtors on important construction factors. Also he has been involved with Internet marketing and web design since the late 1990’s, which translates to extensive marketing tools for our listings.

We like to have fun with it.
While there are a lot of serious work in the process of selling and buying, we also like our clients to enjoy working with us. We consider good clients friends for life.

You have a team working for you.
With The Derrick Team you get 2 Broker Associates working directly for you backed by a large staff at Carpenter Realtors. You’ll find this very important during contract negotiations. Teams are better than one when you really need it.

Award Winning Realtors.
The Derrick Team has been winning awards for the past several years. Our dedication to our clients will continue to equal long-term success for both our clients and future clients.

We are the ‘Pet Friendly’ Realtors. We have quite a few pets ourselves and understand your love for yours. We know pets are great companions and will enjoy visiting and getting to know your closest pals.

Contact The Derrick Team by calling or texting 317-563-1110 or shoot as email at DerrickTeam@DerrickTeam.com.

2.5 Million sales volume for 2015

2.5 Million sales volume for 2015

 

 

Jul 082013
 

Demo Man Dennis DerrickSome are born with the need to tinker. I am one of those persons and got that from my Father. He was always working on some sort of project around the house as I was growing up. Even then I was aware that this was not an automatic thing for all dads. Today as each generation has been raised with more diverse talents and occupations available the ‘around the home handyman’ is becoming less common. But since you can figure out how to do anything on the Internet (right or wrong), some still try to be that handyman that produces, um shall we say dubious results. This often becomes all too obvious at a point when you try and sell a home.

One of the most common ones we see is the attempt to paint, when a person shouldn’t really be allowed to hold a paintbrush. Walking through a home as they proudly show off the freshly painted walls, we have to point out the fresh paint on the ceilings, trim, windows, floor, etc. and politely ask how soon will you be finished cleaning up the, um overlap. Painting is more than slapping paint on the walls so keep that in mind if you plan to give it a shot. And if selling is in the near future, pick your colors carefully.

Flooring is often marketed these days as DIY with simple ‘peel & stick’ or ‘snap & click’. But again it stands out when the edges around the walls are not matched up, there are buckles in the middle, and the transition to the next room is an afterthought. As in painting, the quality of the installation is all in the details. And the cost of materials can make for an expensive mistake.

Another project today’s handyperson likes to tackle is tiling a backsplash or for the more brave, a whole shower. Watching the shows on HGTV makes it look like a snap. One little piece at a time you slap sticky stuff on it and slap in on the wall. Later you fill in the gaps with more sticky stuff to cover up the gaps, no matter how large. How hard is that? Let’s just say many find out halfway through the project they may have been just a little too ambitious.

These are just some of the most common little ‘big’ jobs that handy wannabes will attempt to spruce up their home. Our advice to anyone thinking about it: research and practice a little before taking on a larger project and take your time and pay attention to details. If you plan to sell your home in the next few years think carefully on how your workmanship will look when your home is on the market. Otherwise you may find yourself paying a professional more to undo all the damage you did.

Want free advice on getting your home ready to sell? Give The Derrick Team a text or call at 317-563-1110 today!

Apr 022013
 

 

slide0013_image071If you’re looking to buy a home, this is the app for you. It currently works on any GPS enabled iPhone, iPad, and Android phone.

This app features the ability to find homes around you and bring up the MLS data and photos on your device. Point towards a home, snap a photo, and it will tell you the features as listed on the MLS.

If you want more details or want to setup a showing click the request for info and the app shoots us a request and will get back with you shortly! Can’t get much easier than that!

Just type in your mobile phone number on the Home Search App at the bottom of the right column or click here to download.

Mar 082013
 

I need a lot of money to buy a home.
Not really. Depending on your credit rating and financial income there are ways to purchase a home with practically no money down. There are programs that finance up to 4% of the required 3.5% down required for typical FHA loans, leaving you extra to be used for closing expenses. Combined with seller assistance you can really purchase a home with little or no money down. (more details here)

I have to pay a REALTOR to help me buy a home.
Not true! REALTOR services are 100% paid for by the seller so as a buyer we represent you for free. There is no advantage to not using a REALTOR to purchase any real estate property. But by law and our ethics we must represent you and your interests over the seller’s, as they are represented by their own agent. (more info here)

I don’t need to worry about financing until I find the home I want to buy.
Bad move. We always suggest the first step is to check with a lender to find out where you stand in getting a loan. Sometimes they say go for it. Other times they may find you need to take care of some things financially to put you in a better position to get a good loan. But the main reason is that you don’t want to spend time looking to find the perfect home and THEN discover you cannot get a loan to buy it. It also helps guide you to what kind of home you can afford and in some cases where you can look (like you can afford more home than you thought). (check this post for details)

The national news on real estate is all I need to pay attention to.
Big no-no. The cliché in real estate is location, location, location. And as far as the real estate market is concerned, city, area, neighborhood. Just 2 blocks away can be a different market, depending on the area. This is where using a REALTOR pays off as we know the market in our area. For ANY questions on real estate ask a local agent. (typical local report here)

REALTORS get paid by their brokers no matter if they sell homes or not.
Mostly false. Except in a few cases almost all REALTORS work as Independent Contractors. The Derrick Team works with Carpenter Realtors as contractors and we only get paid with successful transactions, of which a portion is shared with Carpenter for services provided. So if you spend time with one agent, then use another to write an offer, the first agent gets nothing for their work. Keep this in mind when working with an agent. If you like an agent, stick with them so they will get paid for their work for you. That will in turn make them work harder for you. (read this for more info)

Give The Derrick Team a call today at 317-563-1110 with more details on these or any other questions you have. Remember, our services are paid for buy the seller so it costs you nothing.

Jan 152013
 

In an unusual twist the real estate market got really busy at the end of 2012. Most of the time the end of the year is considered the ‘quiet time’ for real estate as the normal sales cycle slows down, especially around the holidays between Thanksgiving & New Years Day.

During this ‘quiet time’ The Derrick Team was really busy with several offers and sold half our inventory. Buyers are out in force and investors are snapping up homes left and right. One of our listings had 4 different cash offers!

Take a look at the Hendricks County November report below and you’ll see the highlighted figure of Months Supply of Inventory at 5.8. It’s been a long time since this has dipped below 6 months, which is often when the market edges closer to a sellers market. We hear buyers already complaining they cannot find the type of home they want.

Hendricks-County-Inventory

We were wondering if this would carry over to 2013 and so far it does seem to be the current trend. The activity on our listings and what other agents are saying indicates that the local real estate market is still going strong.

So what’s that mean for you? If you’ve been holding off on selling, don’t wait much longer. Interest rates are still low and buyers are already looking. If you wait much longer, you’ll have more competition as many sellers wait until late March or April to list their home. If you list now you’ll be in a better position to take advantage of the inventory shortage and could possibly sell quickly!

Give The Derrick Team a call and we’ll be glad to do a free Comparative Market Analysis and work out a plan to get you on the market quickly. Call us at 317-563-1110 right now!

Oct 202012
 

AhoSoldWhen you are going to sell a home, you first need to determine how motivated you are. A motivated seller will listen to good advice and prepare the home to show well to encourage offers from buyers. The not-so-motivated will say, “They’ll just have to buy it and fix it up themselves”. What the not-so-motivated don’t get is they can expect a longer time to sell for lot less money.

Before you look at a marketing report from your REALTOR be sure and think carefully about your motivation as that does effect how you price the property. Once you’ve received your marketing report with a range of possible listing prices based on solds, pendings, and the active competition in your area, look carefully at what sold / pended, as that is your target on what buyers are looking for. The actives are really for information only and should not be factored into your list price.

Now consider your motivation for selling. Look at the following and see where you fall:

  • Very aggressive – Must sell. Examples: Job relocation, health or financial reasons, divorce, or estate settlement.
  • Aggressive – Would really like to sell but don’t have too.  Examples: Need a larger/smaller home, would like to live in a different school district, want to live closer to your work/family, or ready to move to your retirement destination.
  • Kicking the tires – Will sell under the right conditions. Examples: Interested in a different home on the market, tired of cleaning a large home, ready for a maintenance free condo.

No matter what your motivation level is, do yourself a favor and get your property show ready. The feedback you want to hear is “home shows nice”. Those are the homes that sell quicker and for higher prices which is what every seller wants, no matter your motivation.

No matter what your motivation is, give The Derrick Team a call for a FREE no-obligation home market evaluation at 317-563-1110.

Apr 052012
 

Derrick Red Ad signThe Derrick Team loves working with buyers. Whether you are first timers or looking for your retirement dream home, we can help you every step of the way. If you haven’t figured it yet, this is more than just looking at homes and picking one out. There are many steps in this purchase and we will help guild you all the way.

The seller of the property you’ll eventually buy will pay our commission fees so you don’t have to worry about that cost.

But we do expect something pretty simple in return for us helping you. That is: Let us help you!

In other words, Work with us. Now this may seem a little simple to you but you have to understand we will spend a lot of time working on your purchasing process; searching for homes, showing homes, checking home values, negotiating contracts, working with vendors, etc., and will not get paid until you have successfully purchased your new home.

So all we are really asking for is a little loyalty, that’s all!

Just starting your search? Thinking about it in 6 months to a year? Know someone who is looking to buy? Give us a call today for a non-binding ‘meet ‘n greet’ to see if we can be your Realtor. We love to help people buy homes!

Call 317-563-1110 or shoot us an email today!

Feb 252012
 

Dennis At Work

As a Real Estate Broker Associate we’re covered by Indiana license laws in what we can and cannot do. So please throw out that image you’ve formed of realtors from HGTV and any movie or TV show that has a Realtor in it. That’s as about as close as CSI cop shows are to crime fighting.

We often joke that most people think all we do is show houses. Well that is a certain part of our job. Especially agents who specialize in buyers (The Derrick Team are both buyer and listing agents). But that actually is a small part of the larger picture. A better way of describing our main job is lots of marketing (our selves and our listings), research (the market and current trends) and contract negotiations, (or as I like to say, Haggling).

There are a lot of other little things we do spread around daily but these three main functions are what drive our business. Now let’s talk a little about our business model.

In general almost all real estate agents are independent contractors. Most people don’t realize that we work for ourselves and ONLY get paid when we sell houses. Because of Indiana license laws, we sales associates must work WITH a broker, but don’t work FOR them. In our case this is Carpenter Realtors and we love how they do the WITH part (that can be for a later post). So we are INDEPENDENT contractors, and ONLY GET PAID when we sell a home (or close the transaction to be specific). So when we are busy doing all the marketing, researching, and haggling, we are doing so in the hope that everything eventually results in a CLOSING! (Sometimes it doesn’t for items beyond our control). So whatever you thought we did before, now you know in summary, we work our butts off for ourselves and sometimes get paid for it…. And did I mention 7 days a week, 365 days a year? (yes we’ve been called on Xmas and New Years). So I’ll just say it this way,” I don’t want to make money, I just love to sell Real Estate!” (Sorry Don) OK I love to sell Real Estate, and a little money helps pay the bills.

RallyAward

It’s a lot of work to sell 5 million!

If you are in need of a professional Realtor, now you know what we do, day in and day out. Give The Derrick Team a call today at 317-563-1110. We love to sell real estate, buying or selling!

Dec 132011
 

SittingRoomArtworkFeedback from potential buyers, other agents, and open house visitors is an important part of figuring out what your home needs to help sell it as we’ve discussed in another blog post. But one thing we don’t always get is the emotional feelings people get when walking into your property. While many savvy buyers today are looking at a home purchase from a knowledgeable standpoint of location, construction, etc., the actual home that is chosen will often be because of an emotional reaction. Buyers surprise us all the time in their final selection due to some emotional trigger we failed to sense.

This reaction is often triggered by all of the 5 senses. And all 5 must be positive reactions! So while we often tend to look a physical aspects we see with our eyes, such as home condition, updates, etc., we should also pay attention to the feel, sound, taste, and especially the smell senses.

So while we all can do our best to address everything the best we can, we really think there is a point where a professional stager is the best tool we can use to perfect the best emotional reaction for buyers when they view your home. A good stager knows and works with preparing a home to satisfy a buyers senses and trigger a positive emotion, thus leading to quicker sale for often at a higher price.

The Derrick Team has just added another tool to our extensive marketing toolkit with the addition of a local home stager that’s been working in the area for several years that will work with us as needed to fine tune your home for today’s emotional buyers. This company has agreed to do the consulting with us on your home with their consulting fee not due till closing. And if your home doesn’t sell, you owe nothing. That’s how confident they are in what they’ll advise you to do to sell your home. You can do their recommendations yourself, hire it out to your preferred contractor, or turn it over to them and let them do everything for you (for additional fees).

Want to sell your home with the best marketing plan around? Then give The Derrick Team a call today at 317-563-1110 to talk to us about getting your home prepared to emotionally sell your home to a buyers 5 senses!

Sep 262011
 

Selling property takes teamwork from both the seller & family and the REALTOR® who is under contract. Most people will think the REALTOR® is solely responsible for selling the property but that in fact is only partially true.

The Derrick Team

Teamwork Sells Homes!

The REALTOR® under contract with a seller is responsible for marketing, talking with other REALTORS® with clients interested in the property, and making sure all offers have complete contracts before the actual sale is completed. A good REALTOR® will advise their clients on items that help the property show better along with possible sales prices based on a Comparative Market Analysis.

But the main thing that makes this a true teamwork situation that most people don’t realize is the seller sells the home, not the REALTOR®.

Seller Responsibilities
While the REALTOR® advises a client on possible sales prices, it is the seller who sets the price the property is to be listed at. We know that overpriced property can take a long time to sell, if it sells at all. Proper pricing is the responsibility of the seller. Add the fact that only the seller can determine the offer price which they are willing to accept and you see, the seller has complete control on selling the property, not the REALTOR®. And the final part the seller controls is the actual showing condition of the property. This can make a big difference on how buyers view the property and ultimately the price offered. All that makes the seller & family very important team members in getting the property sold at a good price.

REALTOR® Responsibilities
So what is important about the REALTOR® you hire? A good REALTOR® will make sure contracts are in order and list your property in the local MLS (Multiple Listing Service). A great REALTOR® makes sure you have a good photos and description in the MLS. The BEST REALTOR® will market you home to make sure the most buyers view your home in increase the odds of the right buyer finding your property and bringing a great offer. The Derrick Team with our Above & Beyond Marketing will do that for you.

With a dedicated web site and extensive Internet exposure you’ll find The Derrick Team a very valuable member of the team to sell your property! Especially since you get 2 agents for the price of one! Get more details at www.DerrickTeam.com then call us at 317-563-1110 or drop us a note at DerrickTeam@DerrickTeam.com!

Jul 092011
 
Connie Derrick

Connie Derrick

Connie Derrick – REALTOR:
With 30 years of customer service experience she connects well with all our clients, sellers and buyers alike. She’s held her RE license since 1997 and has been with Carpenter Realtors since 2001. She stays in touch and returns calls and emails promptly. As many of our clients can attest, she will become your friend during and after all transactions with The Derrick Team. She’s also out marketing face to face with potential and existing clients almost every day.


Dennis Derrick – REALTOR:

Dennis Derrick

Dennis Derrick

He has been working with remodeling homes, well since that first tree house as a teenager. He understands the common and even the unusual construction techniques used and can help clients make informed decisions on selecting the type of house that would be a good fit. He’s also been involved with Information Technology in some form or another for most of his life. Include that he’s been designing and building web sites for over 10 years and you have the perfect person for online marketing of your home. He’s actively marketing your property online in the 24/7 social media world to give you the best exposure to bring that buyer to you.


Vicky Peters – Managing Broker at Carpenter Realtors Avon West:
Vicky is our mentor, broker, and manager all at the same time. Having been in the business for many years he as seen it all and helps us with the more unusual issues. He is there to assist us at any time and is a very important member of the team.


Debbie – Avon West Office Coordinator:
Debbie is who keeps us all in line while supporting us with just about any request we have. She keeps our paperwork in order and makes sure our print ads are setup. She’s a woman with many hats and we would be lost without her support on our team.


Carpenter Realtors Corporate Offices:
A small army of dedicated real estate professionals who focus on the Carpenter Realtors marketing, training, Internet leads, and all types of support. All of which makes for an invaluable member of our team.


Financial Gurus – Many we work with:
Finances are always important in real estate transactions and we have many we work with. We will work with the finance people on any side of a transaction to make sure everything proceeds smoothly. These gurus are a very important member of our team.


Title Insurance companies – Many we work with:
Title insurance is an important part of finishing the process of any real estate transaction. We work very closely with all title companies to make sure all the paperwork is ready for a closing, the most important part of any real estate transaction, thus a key member of our team.


Home Inspection companies – Many we work with:
We really depend on the professional guidance with home inspectors on the condition of a home, even a brand new one. We always recommend a buyer gets an inspection and will assist in finding one available in the allotted time frame after an accepted purchase. They’re advice is a valuable service of our team.


 

HSA – providing home warranties for buyers and sellers:
HSA provides a great service for both our listings and buyers. We recommend home warranties for either side of a transaction. We have seen our clients save hundreds of dollars afterwards so we know the benefits for both buyers and sellers that makes them a great part of our team.


 

There are many others that are often brought into a transaction as needed for quotes, repairs, staging, etc. But as you see, when you use The Derrick Team to represent you in your real estate transaction, you have a large team ready to make sure everything goes smoothly, for you, our client. Give us a call or text today at 317-563-1110. We work 7 days a week, including evenings!

awards

 

 

Apr 112011
 

So you are starting to think about buying a home. Here are the basics to get you stated.

1. Organize your finances.
Look at your current income, bills, savings, etc, and organize this into something you can easily reference. If you are handy with a spreadsheet this is the best way to get everything in one place. What you want in the end is an accurate document of your current budget.

2. Contact a lender.
The best place to start may be where you bank. But be aware that not all lenders are the same. They all have different options for loans; some have more for first time homebuyers, others for low interest rates for people with outstanding credit ratings. So don’t get discouraged if a lender acts like they cannot help you. Another one may have the perfect plan for you. Your REALTOR can help you find one too which leads to the next step.

3. Hire a REALTOR.
Actually you find one to represent you. We are paid buy the seller with the home you ultimately purchase. But we still represent you and you only so you are really hiring us to help you. Most agents will ask you sign a Buyers Agency form that formalizes that we represent you in real estate transactions. Once you choose one, use them exclusively because if you jump around from one to another, none of them will be that interested in really helping you. So remember, loyalty is important!

4. Start looking for your new home.
Now you have your team assembled with your lender and REALTOR working together with you so now you can start looking for you new home! Your REALTOR will talk with you on your needs and desires and help you in your search. Then when you’ve got a list of possible homes, they will take you to see them, pointing out items of interest in each home based on previous discussions. When you find that perfect home, they’ll guide and represent you in negotiations with the seller. They’ll be there to work with you on the inspection, providing lender information on the home, all the way to the completed purchase (known as the closing).

For more information call The Derrick Team today at 317.563.1110, even if you are still at step 1!

Feb 142011
 

IMG_20150212_165246So you contracted with a real estate agent to sell your home, and it didn’t sell. Why?

Well that’s not always simple question. Many factors could have impacted this so we’ll just look at the basics.

1. Did you price your home for the current market?

Your agent should have given you a Comparative Market Analysis report when you first put your home on the market. Did you look it over carefully? The Derrick Team will give you a report with a range. Based on your personal motivation, you start with a price in the range of what the CMA shows. For example, if you are highly motivated, set the price in the low range. Good pricing gives you an edge over the competition in the market. Your agent should have kept giving you reports on area activity. But it’s up to you to determine your motivation. If your home didn’t sell, this is the first thing to reexamine before putting your home back on the market.

2. Did you properly prepare your home to show?

Your agent should have suggested how you should prepare for open houses and showings. The rule of thumb: Clean and Neat. If your home shows great, you’ll have a much better chance of getting offers.

3. Did your agent aggressively market your home?

Were you happy with how your agent advertised to attract buyers? Some agents will tell you putting your home on the MIBOR Broker Listing Service (BLS) and a sign in the yard is all you need. Occasionally this does work. But you have a much better chance of attracting more buyers and getting better offers if your home is actively marketed. The Derrick Team excels in Above and Beyond Marketing.

If you feel you are OK with # 1 & 2, then examine if you think your agent did # 3 to your satisfaction. If not, check out what The Derrick Team can do for you. Look at our web site: http://derrickteam.com/ for more details. Then give us a call at 317.563.1110 or shoot us an email at DerrickTeam@DerrickTeam.com.

Feb 032011
 

While the local Indy Metro area is starting a slow rebound, it’s still a buyers market in this area. Home prices are very slowly starting to recover towards 2007 highs but more importantly interest rates are still pretty low for mortgage loans.

So what’s your first step? Shop for a lender with good rates and offer different options for loans. That’s important because different loans help if there is a special requirement or need for the home you decide to purchase. For example you find the home you want in the perfect location but it needs a little fixing up. An FHA 203K loan can be a great option there.

Little low on cash? Find a lender willing to work with an Indiana Housing & Community Development Authority first time home buyer programs which can help with the down payment and loan rates. Another option for homes that qualify is the USDA no-money down program. This is for more rural homes such as our listings in Bainbridge and Danville. You can check homes eligibility at this web site.

Don’t wait too long. ½ an interest point in your loan can cost you thousands of dollars over the life of the mortgage. And in a buyers market you have the advantage in many homes to select from which could save you money vs. 12 to 18 months from now.

Have a home to sell? Consider selling it at a low price to sell quickly so you can buy your new home and save on the home price and the loan interest which could easily more than make up the difference.

Call or text The Derrick Team with any questions and we can begin to help you find that perfect home today! We work 7 days a week, evenings too!

Feb 022011
 

The Derrick Team ~ Listing Leaders

Give us a call to sell your home or buy a home today!

Dec 052010
 

We just received the first real snowfall in central Indiana, 2 weeks before the official start of winter, but in Real Estate we are already thinking spring! And if you are planning on putting your home on the market next spring you should start working right now.

First let’s explain the real time frame from which real estate works. Most people know that annual property sale transactions peak during the spring. We can verify that as springtime is typically real estates busiest period. But actually buyers start looking seriously soon after the first of the year, in the middle of winter. Sitting around on cold snowy days, searching available homes on the Internet, and getting ideas what to look at as soon as the weather is a little warmer, as in maybe the January thaw we often see here in the Midwest. So the best bet to get those early buyers is to have your home on the market no later than the third week in January. The earlier the better!

The reason you need to get started today is you probably have a few things to do to spruce up your home before you get it listed on the market. And what better time for indoor projects than the cold days of winter. Maybe a room needs a quick paint job. That loose railing you’ve been meaning to repair. A broken light fixture that needs replaced. You want to have all those things done before the first showing. It is hard to explain to buyers that this or that will be done soon, as they base everything on what they see right in front of them. And in some cases what they see can be potential deal killers.

So if you are planning to sell your home, your spring season starts right now. Feel free to contact The Derrick Team at 317.563.1110 with any questions. We’d be happy to come by and look at your home and offer suggestions on getting it ready to show. We’ll also do a Free Comparative Market Analysis of your home with no obligations to use us when you’re ready to sell. But we’re sure when you see The Derrick Team Marketing Advantage, you’ll realize we can do the most for you to give your home the exposure it needs to find buyers looking on those cold winter days in January.

Also be sure and download our free booklet Some Tips For Preparing Your Home To Sell

Oct 292010
 

 How important is it for you to sell your home?

There are different types of Realtor services available to those who are looking to sell your home. Each one has a general base commission rate that is determined by what they provide the seller to help get the property sold. But what most people don’t realize is the whole commission that is charged is normally split 4 ways.

RallyAwardFirst you have the split between what the listing broker/agent and what selling broker/agent (who brings the buyer) receives at the closing. The second split is referred to as the Broker-Agent Commission (BAC). The BAC is important as this amount attracts the agents with buyers to your property. A lower BAC could make a difference in a sale as an agent may guide a buyer to a similar listing with a higher BAC. So a home with a 3.5 BAC will be considered more often than homes with 2.5 or even 3.0. We always recommend at least a 3.5 in this market and even 4.0 if you really want motivated agents showing your property in today’s market.

Second each of these halves are split again in a predetermined percentage between each agent and their associated broker. In most cases this is a 50/50 split so the listing agent and the selling agent actually end up with about ¼ each of the total commission.

In the Indy Metro area you will find that most full service brokers generally start at a 7% commission and reduce them on a sliding scale depending on the properties listed sales price. Your discount brokers will often reduce this down to 4 to 5% but offer a much lower BAC to agents bringing the buyers.

Now keep in mind the agent who is working the hardest to sell your home is only getting ¼ of the commission. So the selling agents income difference between 5 & 7% on a $100,000 sale is $500. Do you really think that the agent with the lower commission rate can afford to invest as much time and money in marketing your home as would a full service broker? Also note, a well marketed home with more buyers looking at it typically gets a higher sales price.

So again we ask: How important is it for you to sell your home?

Carpenter Realtors is a full service broker that provides a wealth of marketing tools including the exclusive Home Marketing System for all their agents.

The Derrick Team uses these tools and even more (like dedicated listing web sites) to achieve maximum exposure of your property to buyers in today’s market. Call or text us today to find out more at 317.563.1110. We work 7 days a week, evenings too!

%d bloggers like this: