Sep 292010
 

So you are getting ready to list, or relist your property with a professional REALTOR®, here is a rundown on what to look for as your options.

Listing Service

This is a company that charges a flat fee to provide you the services of a broker to assist you in selling your home. This is only an option if you are willing to do most of the work yourself. They do the minimum amount of work to place your home in the local Multiple Listing Service (MLS). After that you’re on your own to market, show, and hold open houses. You have to determine your BAC (what an agent who sells your home gets) which can determine how many showings you get. If your property doesn’t sell, you’re out their fee and all your time and money spent marketing the property.

Discount Broker

This is an agency where you will have an assigned agent to work with you to list your property and only charge you a discounted fee (typically 5 to 6 %) if your home sells. They will provide you the necessary service to list your home in the MLS, usually show your home or provide a method for other agents to show the home, and maybe even do some limited marketing. They might do open houses if you request it but probably won’t offer that willingly. They will list on the MLS at a reduced BAC rate depending on what the commission is set at, which can sometimes impact the amount of showings. The better ones will offer some extra marketing such as virtual tours but don’t count on it.

20150811_150744Full Service Broker

This is an agency where you will have an assigned agent to work with you to list your property and charge you a fee based on several factors for the area (typically 7 % or more in the metro west area) if your home sells. They will provide you the necessary service to list your home in the MLS, show your home and provide a secure method for other agents to show the home, and will do much more marketing. They typically will provide a improved web search ability to help sell your home on the Internet (where 90% of buyers start their home search) and some additional print marketing such as flyers and books for potential buyers to have. Most will have their own sections in the newspaper to advertise homes and open houses. They will offer the highest BAC which draws other agents to show your property. And most will offer to do open houses if you want.

So to summarize:

Listing Service: Flat fee, home on MLS, sign in yard (you pay for it), show the home yourself, you pay out the BAC, out time and money if home doesn’t sell.

Discount Broker: Lower commission, home on MLS, sign in yard, take care of showings, lower BAC, some marketing and maybe open houses. No charge to you if home doesn’t sell.

Full Service Broker: Standard commission, home on MLS, sign(s) in yard, take care of showings, offer attractive BAC, extensive marketing and open houses. No charge to you if home doesn’t sell. They will work the hardest to sell your property as they will put more time and money into selling your property and will get nothing in return if they don’t succeed!

The market for selling homes is very competitive, especially in this current economy. You need to compete with homes being marketed by Full Service Brokers. Is it worth the risk to try saving a few dollars in a large financial transaction when there is so much at stake? Contact  your Full Service (and more) REALTOR®s, The Derrick Team today to find out more what we can do for you. Call or text 317-563-1110 anytime, we work 7 days a week, evenings too.

Jul 102010
 
Dreaming of a New Home?

Dreaming of a New Home?

Even if it’s a year or two away, there are things you should consider now so you are better prepared when the time comes. We’ll discuss the basics and point you to some tools you can use to get started. Even if you are selling a current home and moving into a new one, much of this applies as well.

Financing
First and foremost, work on your financing. The sooner you figure this out, the better you’ll be prepared for everything else. I would suggest working out a budget if you don’t already have one. This can help determine what you feel you can afford for a house payment. Then when you talk to a finance person you have a better understanding when they explain what a monthly payment amount covers and how much ‘home’ you can afford. (The homes costs include the mortgage, money down, and other costs for the transaction). There are also online tools such as this calculator that give you a rough idea: How Much Home Can I Afford?

If you don’t already have it, it’s a good idea to check your credit report. This is a great tool that I’ve used myself and you are allowed to use it once a year for free to check all three major credit services: Annual Credit Report . They will try and sell you extra services but if you just use it to check your report it costs you nothing, (by law the credit services must supply you one free report per year). Look your reports over carefully and if you see something wrong, now it the time to fix it, before you go to secure financing for the home you saw and fell in love with (and then can’t get the financing).

Searching For Homes
Next, start thinking about the type of home you’ll want and the area you think you want to move to. This is where I recommend you hook up with a REALTOR®. Find one that knows the area you’re looking at and see what they say about the availability and prices you would be looking at. Remember, when buying a home using a REALTOR®, you pay nothing for our services, (as explained in this earlier post).

Of course I hope you will consider The Derrick Team as your REALTOR® of choice. Connie and I have no problem working with you long before you’re ready to make your purchase. We want to guide you in your search and even when it takes a year or two we’ll be glad to help you get started. We have the knowledge and tools of our own with which we will assist you in your search. One such tool is on our web site, the Search and Save feature located on the menu at DerrickTeam.com. It’s free to use and allows you to create searches, save and email the results to yourself or others.

Selling Your Home
If you have a home to sell you definitely want to get a REALTOR® early on, so we can help you determine your homes value as it currently is, thus guiding any improvements you make to prepare your home for sale. Depending on shows like you see on HGTV could really make you waste a lot of money on things that don’t help in your neighborhood.

Give The Derrick Team a text or call today for any current or future Real Estate needs at 317.563.1110. We’ll be glad to talk to you about anything you’re thinking about doing now or two years from now. It’s never too early to start planning such a big purchase. And remember, we work 7 days a week, evenings too!

Apr 202010
 

So you’ve decided to sell your home yourself. We won’t discuss why you chose this route yet. But let’s discuss the process of selling a home first.

Selling your home is a very serious financial transaction. Quite possibly your home is your most valuable asset so when you are ready to sell, you want to make sure you do it properly. Statistics show that 80% of the homeowners that try to sell on their own home eventually use a REALTOR and then realized they wasted a lot of time and effort before they did. There are a lot of things to consider but the basics are broken down to these items.

You will need to: 

  • Price
  • Prepare
  • Market
  • Show
  • Negotiate

You may be able to figure out some of this on your own but you really should consider using a professional REALTOR to make sure each step is done properly and results in the best return for your valuable investment.

Here is what The Derrick Team will do for you to sell your home:

Price for the Market
For pricing we will do the footwork and evaluate your home and property to help you get the best price for the current market. We do a complete Comprehensive Marketing Analysis to guide you to a marketable price for your home. If a home is overpriced, it might never sell, or at least it will sit on the market for a very long time. Plus if the buyer is financing most of the purchase, it might not appraise for the loan and the entire deal will fall through.
Question: Do you have access to proper property comparisons to determine the current market value of your property? If not you might easily underprice and lose financially on your investment or you might overprice and find later it doesn’t appraise killing a possible sale.

Prepare to Show
To help you prepare we will offer suggestions for staging your home to make it attractive to buyers. We make suggestions on both what to make it stage better and what is not worth spending your money on. A well staged home will show better attracting more viewers and ultimately better offers from impressed buyers. A well staged home often sells sooner and for more than a similar home that doesn’t look as nice. First impressions make a big difference in home sales.
Questions: Do you know what to focus on so your home shows nicely? Are you going to have to spend money to spruce it up? If so do you know the least expensive way to approach this?

Marketing Your Home
For marketing we use the best tools available to realtors including the comprehensive set of options available through Carpenter Realtors that are exclusive to Carpenter agents. The Carpenter Home Marketing System is provided to Carpenter Sales Associates regardless of the agent’s income so every property gets the best marketing available. This system includes print, newspaper, Internet, and even TV with Carpenters Showcase of Homes on every Saturday morning. In addition to all this The Derrick Team also utilizes our own “Above and Beyond Marketing” detailed later in this book.
Questions: How much money are you going to pay for marketing? Can you possibly get as much exposure as what The Derrick Team / Carpenter Realtors can give you? Do you realize we would market your house at our own expense and you would owe us nothing if your house doesn’t sell? Can you understand our dedication to marketing and selling your home as we make nothing if we don’t succeed?

Showing Your Home
We use the SentriLock lockbox system which allows us complete control over who has access to your home. This is part of the MIBOR BLC system so all member agents using a security card will be able to show your home without inconveniencing you. Carpenter Realtors uses Centralized Showing Service (CSS) who will coordinate with you and simplifies the ability of buyer’s agents to schedule a time to show your home. This also allows us to track all showings and send you reports with feedback from the buyer’s agent. We also will be happy to hold open houses as we know they do help market your home.
Questions: Are you prepared to take calls from all sorts of “unqualified” buyers who will be coming by to see your house for the first time? Do you have the marketing ability publicize your Open Houses if/when you have them?

Negotiate for You
Finally, the most important step is when a buyer makes an offer. We will work with you for negotiations such as sales price, included items, and any inspection issues that may arise. We will be there at closing to help you with any questions that may come up. We will work closely with you all the way through to make sure no unexpected surprises come up at the last minute.
Question: Are you ready to negotiate with a professional REALTOR when they bring a buyer’s offer (and pay them the BAC fee)? Educated buyers will have a REALTOR as they know it costs them nothing and if you don’t offer a BAC REALTORs will go elsewhere with their buyers.

Door to Door Service
The Derrick Team will also help you find your new home and help negotiate that sales transaction with you. We can even help if it’s on the other side of the country. So we can make sure you go from one house to your next with the least inconvenience to you and your family.
Comment: You might consider that a REALTOR whom you pay to sell your home will help you buy your next home at no cost to you. Thus you are only paying for part of their services.

 Other items to consider:

  • Do you know when to provide the Lead Paint disclosure?
  • How will you negotiate with inspection issues? (Educated buyers will always insist on a home inspection)
  • Do you know when you are supposed to provide the sellers disclosure?
  • Do you realize since you need to be prepared to pay the buyers’ agent’s BAC fees, you only save half the commission selling it yourself?

When it’s OK to Sell Your Home Yourself:

  • You are selling to a good friend or relative on an already agreed upon price. (You’ll still need a title company to properly transfer the deed; we can recommend one for you).
  • You are going to put the wheels back on and deliver it with your pickup truck. (You’ll need to finish the paperwork at the DMV).

If neither of those reasons applies, you might want to reconsider selling your home without professional assistance. Even if you don’t use The Derrick Team, we strongly recommend you use a REALTOR to sell your home.

No Obligations – Call or Text Us Today – 317-563-1110
Give us a call and we’ll be glad to come to your home and talk to you about selling your home with no obligations or hard sell. The Derrick Team just wants to help people sell their homes. We want to help you sell your home for the best possible price, in the least amount of time, with the least inconvenience to you and your family. The Derrick Team / Carpenter Realtors are the best Full-Service REALTORs in Central Indiana.

Mar 142010
 

SoldSignStep One: Find a REALTOR and stay with them. Loyalty is important to make sure you get the best service possible. Finding the right home is not an easy task. If you are a potential buyer, there are numerous hurdles to be jumped before you finally move into the home you really want. It’s in your best interest to be represented in one of the largest purchases you’ll ever make so finding a good REALTOR is an important first step. The Derrick Team would love to talk to you on how we can help you purchase your home.

Loyalty is important. Some buyers like to leave their name and needs with four or five sales people. Although this sounds like it is to the buyer’s advantage, it’s really not because when a buyer is not committed, none of those agents are going to be spending any extra effort on that buyer’s behalf. You must keep in mind a REALTOR does not get paid (by the seller) until you actually purchase a home using them to represent you in the transaction. So if you are committed to working with us, we will work closely with you to find that perfect dream home you’ve been looking for. With the Derrick Team you will have a dedicated team (Connie & Dennis Derrick), who will take on the personal responsibility of handling all the details of your upcoming home purchase needs.

Work with Professionals. As a members of Metropolitan Indianapolis Board of REALTORS (MIBOR) and the National Association of REALTORS (NAR), we subscribe to a strict Code of Ethics (not all brokers are REALTORS; look for the REALTOR emblem). We will adhere to the Code of Ethics in representing you, our client. In return, we only ask for your loyalty so we may stay committed to helping you in home purchase needs. And keep in mind, our services are paid for by the seller of the property you ultimately purchase, so it costs you nothing!

Call  or text The Derrick Team Today! 317.563.1110 or use our handy Contact Form

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