Mark Renner's Omaha Real Estate Blog

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all.  I simply see my mission as striving to be as helpful as I possibly can to area home owners.  I hope this blog provides the information you need to be an informed home seller.               T ITo read all of my blogs, including To read all of my blogs including those already posted, you can access them at www.Reesults.net. (Yes, Reesults is spelled with 2 e's)   To read all of my blogs including those already posted, you can access them at www.Reesults.net. (Yes, Reesults is spelled with 2 e's)   If you IfTo read all of my blogs including those already posted, you can access them at www.Reesults.net. (Yes, Reesults is spelled with 2 e's)

To read all of my blogs, including those already posted here, you can access them at www.Reesults.net.  (Yes, Reesults is spelled with 2 e's.)

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ADVANTAGES OF A PRE-LISTING HOME INSPECTION In today's highly competitive real estate market, sellers need every advantage available to sell their home.  A Pre-Listing Home Inspection by a qualified home inspection company has proven to be a significant benefit to sellers and buyers.  More and more sellers are using pre-listing inspections to determine the condition of their home before they list it for sale. The following are benefits for Sellers and Buyers: SELLERS Improves marketability Gives seller a chance to correct problems or reflect them in the asking price Prevents last - minute renegotiations for defects that could delay the closing Home may sell faster and at a higher price BUYERS Discloses the condition of the home and its major systems up-front Prevents having to find another home due to unknown defects Gives confidence that the decision to purchase was the right one. Provides a guide on future expenses in owning the property

The residential real estate market continues to be healthy.  Here is how we are doing from April of 2012 through April of 2013: The number of properties FOR SALE is down 14% from a year ago Properties SOLD and CLOSED in April 2013 is even from April 2012 PENDING SALES - those that are sold but not closed - is up 10% from April last year The supply of homes or months of inventory is 2.9 months, assuming no other properties were to enter the market. Market Advantage - Seller.  A Buyer's Market is more than 6 months of inventory.  A Seller's Market is less than 3 months of inventory.  A Neutral Market is 3-6 months of inventory. The greatest compliment I can receive is a referral. Please give me a call or email if you know of anyone who is thinking of or planning to move. Follow my blog at http://www.markrenner.com/real_estate_news.asp     

29 Critical Questions to Ask A Realtor Before You List­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ (Because Finding the Right Real Estate Agent Can Make All the Difference in the Success or Failure of Your Home Sale) You recently decided that the time has come to sell your home.  Selling a home involves many critical and personal decisions.  However, one of the most important decisions is the first decision you need to make – a decision which impacts your entire home sale – Which Real Estate Agent should you work with? Unfortunately, many people make this decision based on the idea that all Real Estate Agents are basically the same and that the commission is the only important item to consider.  Nothing could be further from the truth. As a general rule of thumb, you’re looking for an agent who: Has the experience, qualifications and abilities to sell your home. Has in-depth knowledge of your area and the market in general. Will work hard on your behalf. Has the resources to support the sales effort. Will keep you well informed during the process.  Has a personality you are comfortable with.

Question #22:“What are the brokerage fees?” The customary fee generally ranges between six and seven percent although brokerage fees are not fixed by law and are negotiable. Whether you pay a fee, which is higher or lower, you generally get what you pay for. Especially beware of agents who are willing up front to take a reduction in their commission.  It may well mean that they never intend to spend much time, effort or money in selling your home to begin with.  This is especially true of “limited service” companies such as banks and discount brokers.  These are neither brokers who do not put the marketing resources nor have the experience of selling real estate that a full service experienced real estate brokerage company and agent will provide.  The most expensive commission you ever pay is the “one you don’t pay,” because it results in reduced service, less exposure and ultimately a lower price. Many real estate brokerages are charging buyer and seller transaction fees.  These are charges by the company to defray clerical overhead costs.

Question #23:“What are the other fees & costs of selling?” Title insurance, escrow charges, closing costs, prorated taxes, prorated interest, association dues, etc. – the individual circumstances of your transaction and the needs of your buyer will all impact your financial obligation. Be certain your agent reviews all the costs, which may be incurred so you will be prepared.

Question #24:“What disclosure forms are required?” In Nebraska, you will be required to complete a Nebraska Real Estate Commission Real Estate Property Disclosure Form. Depending on the age of your home, you may also be required to disclose any knowledge of lead paint in your home. Also, if you live in a flood plain or any other disaster prone area, you will be required to complete a disclosure. If you have had any work recently completed on the home, save the receipts for disclosure to potential buyers, as well as any insurance claims you may have filed and whether or not you made any repairs after the insurance monies were collected.

Question #25:“Should I offer a home protection plan?” There are many ways to enhance the salability of your home and sweeten the deal for prospective buyers.  You may not need them, but you should know what they are, what they cost and how they may or may not benefit you.

Question #26:“How will buyers qualifications be determined?” Ask what procedures the agent will use to be certain you don’t waste time dealing with any dead-end offers or escrows which can’t be closed.

Question #27:“What if my home doesn’t sell?” Much of the answer to this question should be spelled out in the listing agreement.  This would include what happens if you decide to take your home off the market. Check to see if there is a “liquidated damages” clause. These are designed to specify a dollar amount you would be liable for should you decide to take your house off the market before the expiration date of the agreement.  Some agents offer an “easy Exit” Listing Agreement which allows the seller to cancel at any time.

Question #28:“What’s the best way to contact you?” In this age of expanding technology and instant communication, most agents have cell phones, voice messaging and email. You should know exactly how to get through to your agent, their assistant, or a messaging service in case of emergency 24 hours a day.

Question #29:“How would you like your feedback?” As important as it is for your agent to keep you up to date, you should give regular feedback to your agent as to how satisfied you are with their service. The best agent is the one who makes it easy for you to communicate your satisfaction as well as the things you would like to see changed about the way they are handling your transaction.

 

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