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The Brief Guide That Makes Choosing and Hiring a Realtor Simple

by | Jul 8, 2020 | Monique Higginson, Property Management, Real Estate Agent Tips, Real Estate Tips, Realtor, Salt Lake City, YourHome

Your-Personal-Realtor

Does thinking about hiring a realtor gives you a headache?

How many of your neighbors and friends have handed you their business card? Chances are, you’ve got quite a few. It seems everyone and their uncle is a real estate agent nowadays.

How do you sift through the endless sea of licensed agents and find one that’s the right fit for you?

It can be a stressful task without any guidance. And deciding to work with the wrong one can be just as stressful!

But don’t worry! We’re here for you. Here are 8 quick tips to show you how to choose a real estate broker.

A Crash Course in Hiring A Realtor

  1. Availability– In a hot market when you are buying or selling, you need to have an agent that has time for you or you will miss out on some good houses
  2. Market Knowledge– Look for an agent that specializes in the area you want to buy or sell in and knows the market stats
  3. Experience– An experienced agent can help to get your home sold faster and also offer you a network of other professionals (mortgage lenders, home inspectors, etc.) to help with whatever you may need throughout the process
  4. Resources– Hiring a realtor who understands the whole picture is critical when dealing with things like financing, contracts, contingencies, and addendums
  5. New Marketing: Social Media– Marketing your house has changed to the point where you need an agent who has an active, professional presence on social media platforms like Instagram, Facebook, and LinkedIn
  6. The agent sells real estate full time– Finding an agent who sells houses full-time means they will have more time to work on your home, and they’ve been successful enough-and been successful long enough-at it not to need another part-time job
  7. Ask your friends and family for suggestions– Agents who are good at what they can work on referral business alone, so someone you know may have worked with a rock star agent who can’t be found on the traditional marketing platforms.
  8. They are willing to listen– You can spot an agent who won’t listen to their customers from a mile away, and chances are they won’t fall in-line with any of the other 7 tips we’ve given you, but just be on the lookout for them!

Bringing it Home

Buying or selling a house is the biggest decision most people make in their lives because of the high price tag, and people are usually buying or selling in association with some other life event going on(having a baby, getting married, getting a new job, or downsizing because of an “empty nest”).

Here at Market Source Real Estate, we understand how complicated hiring a realtor can seem. We’re here to help and show you that it can be a simple, pain-free process.

We pride ourselves on putting our clients’ needs first and will answer any questions you have to help put your mind at ease.

This is your life, your house, and we want you to be 100% certain you’re in the best hands for the job.

Call Monique to get started, or subscribe to our blog to keep updated on what’s going on in Salt Lake City and the surrounding areas.

How We Market Selling Your Home (and why we do it that way)

by | Oct 31, 2019 | Salt Lake City, Staging, YourHome

Knowing the right way to market your home to sell is vital. Market Source Real Estate has been providing home sellers with excellent service and extensive local expertise since 2007, securing the highest price and quickest sale possible for you in the best and worst times in the market. We excel in evaluating homes, making them better with staging, advising of needed repairs and setting the right price to get the best outcome for our sellers. We set realistic expectations based on anticipating repairs needed after a buyer’s home inspection, preventing most of the typical drama that comes up during a sales transaction.
Staging:

Staged homes sell an average of 17% faster than homes that are not. There are many statistics to be found from many sources but staged homes also appear to sell for 1-5% more than a home that is not staged. We work with many different staging companies so we can tailor staging services to each unique home’s needs.

Photography/Video:

Professional photos and/or video tours of your home is a part of your listing which greatly helps our marketing efforts. If you don’t have great photos, most people will not make an appointment to see your home!

 

Signage:

When Market Source Real Estate lists your home for sale, a professional, oversized and easy to spot sign will be placed in your yard. Our company colors have also been specifically chosen to stand out. The two most memorable colors in marketing are red and yellow.

Community Outreach:

We will implement the appropriate community outreach strategy either through sending out flyers, alerting neighbors through community social media sources, sending postcards to neighborhoods or reaching out directly to neighbors to try to secure a buyer for your home.

Open Houses:

If determined to be in the right location for open houses, we will also host open houses at your home. Only 1-3% of homes sell from an open house but it can be effective if your home is in a high traffic area or fast-moving market.

 

MLS/Website:

We market homes for sale on the MLS and utahrealestate.com, where most buyer’s agents are searching for homes as well as saltlakeopenhouse.com, redfin.com, facebook.com, thinksaltlakecity.com, realtor.com, ksl.com, youtube.com and all other brokerage websites that broadcast MLS feeds.

Social Media:

In addition to advertising your home for sale on websites, we will create a branded social media strategy for your listing so we can best target potential buyers for your home through the appropriate social media channels. Our developed social media channels include: Facebook, Instagram, Twitter, and YouTube.

Showings:

Sellers should be aware that same-day and even last-minute requests for showings are
common, so a seller with a ‘24 hour notice to show’ stipulation often cuts himself out of a good chunk of the buying market.
In Utah the standard is 24 hours notice.

More information on moving can be found here:

Home Buyer Checklist

Tips for Getting Your Home Ready to Sell

Stress Management for Home Buyers

Home Buyer Checklist

by | Sep 26, 2019 | Moving, Moving Tips, Salt Lake City, YourHome

Our mission is to guide home buyers and sellers through one of the biggest financial decisions of their lives. We strive to make buying and selling homes a smooth process where our clients feel empowered with information and shielded from complications.

We hope this checklist helps you through the process of buying a home.

 

1. Get Pre-approved for a mortgage loan and establish a budget. This important step will illuminate any disappointments by avoiding looking at homes outside of your budget or what you qualify for.

 

2. Identify what type of property you would like to buy (condo, townhouse, single-family home, duplex, etc.)

3. Identify what locations are acceptable for your new home. Consider public transit, schools, grocery stores, shopping, etc.

4. See prospective homes with your agent. This can be daunting but so much fun!

5. Write an offer on a home and get it accepted! Keep in mind that sometimes negotiations will need to take place.

6. Once you have an accepted offer, follow your agent’s instructions for providing earnest money, ordering a home inspection, and starting the loan origination process with your lender.

7. After inspections are complete and the appraisal is completed, usually the transaction will go through so it is time to start packing and planning your move.

8. Contact movers 1-2 weeks ahead of time as a minimum to be sure your timeline can bet met. And start packing!

 

9. Less than one week before closing you will need to set up utilities to be in your name, homeowner’s insurance to start. We will provide you with the contact info for your utility providers.

 

10. On the day of closing or day prior to closing, you will need to wire your down payment and closing costs to the title company for closing. After your loan funds and the deed records, you are the new owner of your home! Your agent will arrange to get keys to you so you can take possession.

Planning a move? Here are few more tips:

Tips for Moving with Children

Tips for Moving with Pets

Tips for Getting Your Home Ready to Sell

Yes. Buying a Home Can Be Stressful.

by | Aug 29, 2019 | Home Maintenance, Moving, Moving Tips, Real Estate Tips

Yes. Buying a home can be stressful.

Hiring a professional to buy or sell a home is a good way to assist you in dealing with some of the stress points during a real estate transaction. Often times, buyers and sellers are unaware of all the possibilities that may come into play when purchasing a home or selling one. Your realtor is a trusted resource that will help you remain calm.

Here a just a few to consider:

 

  • Sometimes you will have to write many offers in our competitive market before you will secure a contract.

  • Sometimes home inspections do not go well and negotiating repairs can be stressful.

 

 

  • Sometimes closing gets delayed or there is an issue getting your keys once closing has occurred.

  • Often sellers may accidentally leave items at the home that are unexpected or leave the home less clean than anticipated. This can cause extra work to be needed before you may want to move in.

 

  • If you do not understand the home buying process well or your lender and/or real estate agent are not communicating consistently, it can leave you feeling out of the loop and anxious.

  • Feel free to constantly communicate with your agent and lender if it helps you feel at ease during the process. They really are such a valuable asset in so many ways.

 

In need or more tips? Visit these post for more.

Tips for First Time Home Buyers

Why Work With a Real Estate Relocation Agent? 3 Ways You’ll Benefit!

Three Questions to Ask A Contractor; Before Your Hire Them

Hidden Costs for New Homeowners

by | Jul 11, 2019 | Real Estate Tips, Salt Lake City, YourHome

When the time comes for you to buy a home, new homeowners need to understand that there are ‘hidden’ costs and fees when you are ready to sign on that dotted line. We are calling them ‘hidden’ because they are not included in the actual price of the home, these costs are obtained through the buying process and at the time of closing.

Here is a breakdown of those ‘hidden’ costs.

 

Home Inspection

Although this is an optional expense, it does protect you from purchasing a home that may have a lot of issues that may not be obvious. These can include things like mold, problems with the heating or cooling system or water leaks. A rough estimate for a home inspection is $300-$500. Keep in mind, if you end up not buying the house after the inspection, you are still obligated to pay the fee.

Appraisal

This is a necessary fee that asses the home and property so your lender knows that you are paying what the property is worth. There are times when a seller may have to adjust their asking price due to an appraisal coming in under the amount of asking. Appraisal fees can run $200-$500.

Loan Application Fees

These fees start the entire loan process. A lender will need to run your credit report to ensure you can qualify for a home loan. That fee is included in the application fees. These typically run $75-$300.

Title Services

Title services include running a title search on a property, paying the notary to notarize all the documents that you sign, and the required government filing fees. It is important to get a detailed invoice for these fees so you are fully aware of what you are paying for. These fees run $150-$400.

Origination Fees

These fees go to the lender for creation of the loan. These are paid upfront and include processing the loan application. the underwriting process and the actual funding of the loan. These fees are usually based on a percentage of the loan amount and range from 0.5%-1.5%.

Private Mortgage Insurance (PMI)

If you put less than 20% down on your new home, the lender will require you to purchase PMI. This protects the lender from losing money in the event of a foreclosure. This fee can be re-assessed at such time as you have equity in your home. This fee is based on a percentage of the original loan amount as well.

 

Disclaimer- All dollar amounts and percentages are estimates. 

 

More helpful information can be found here:

Tips for First Time Home Buyers

8 Things I Wish I knew BEFORE Buying My First Home

Relocating to Salt Lake City? Here is Where to Start!