Real Estate Buying and Selling Homes

Selling in a buyers market is an unpleasant but sometimes necessary component of the complex real estate market. As the market fluctuates wildly, home owners often find themselves having to ride the roller coaster and make tough decisions. However, with a few basic tips, even the most urgent seller can turn a profit on their homes in a unfriendly market.

1) The first step is to set a price for your home that will actually help it sell. This sounds simple, but many home owners, when remembering the emotional and personal investment placed into their home over the years, will set a price far exceeding what the market will allow.

Your first step in setting a price should be researching similar real estate properties in the area. Once you set an ideal price for your home, set contingency dates and prices in your mind in case the house does not sell right away.

To reach the ideal price for a home, sellers should also consider offering incentives to buyers. Incentives allow the homeowner to set a higher price will still offering unique and attractive benefits to the buyer.

Depending on your budget, these incentives can be as complex as paying the closing costs for buyers, all the way to simply offering the buyer a cash allowance to update the carpeting.

One easy and cost effective incentive may be to offer the potential buyers the appliances that are already in your house. The attractiveness of having appliances already installed to fit the room may outweigh the buyers desire to decorate with their own style. These quick fixes can allow you to sell the home while still receiving your target asking price.

2) Secondly, any experienced real estate agent will tell you that a good looking, well constructed house can sell itself, despite the economic conditions. To help your house achieve its maximum potential, it is important to make sure that the house is in top condition.

Before selling, consult an experienced real estate inspector to help determine any potential problems with the house that may need repairing. Nothing will sour a potential deal faster than the last minute discovery of a major problem.

It's also important to remember that appearance counts as much as the houses actual layout. Make sure the house appears well-maintained and kept up, from the garden to the interior.

Perhaps the most important and easily overlooked aspect of a houses appearance is the interior walls. The right color can create a calming, light, open feeling for the potential buyer, which will in turn create the illusion of a larger space.

3) Finally, and perhaps most importantly, it is essential for every seller to remain patient but flexible. Many inexperienced sellers will either sell at the first offer, or hold out for months while waiting for their ideal asking price.

If you have taken the time to set a reasonable price and have managed to keep a well-maintained home, stay confident in your decisions and wait for the perfect buyer in todays real estate market.

While Sofia is often regarded as one of the best places for property investment, many companies have been too eager to buy land and build, without any prior consideration of the future of the market or the specific demand of the property seekers. Motivated by the rapid growth of the city's population, these firms are often too eager to believe that anything would sell.

However, supply grows as quickly as demand in the 'hot' Sofia property construction sector. People have become well aware of the fact that some real estate projects are much better than others; they also have a very clear idea about what they need. A remote building with bad infrastructure is usually not a compromise, however luxury the construction might be. Nor is a tiny building crammed between old blocks in a crowded area.

Despite the rapid growth in the real estate sector, Bulgaria still has an acute need of modern residential complexes designed to meet the needs and lifestyle of today's typical Sofia property seekers - young professionals and families with a good income, versatile free time interests and high expectations.

There are some companies which have managed to identify the unique needs of Sofia's property market, and probably more are about to follow suit. One of them is the real estate investment company Karrat Group, which is currently developing one of Sofia's most ambitious property projects - City of Fountains.

The idea behind City of Fountains is to create a landmark, a complex which stands out against all existing residential construction, while also offering everything to match the lifestyle of modern people. The complex comprises a total area of 35 000 square meters and will have 18 residential and 2 office buildings, as well as a spacious recreation area and fountains running throughout its grounds.

Property owners and investors in City of Fountains will definitely appreciate its great location. The complex is located in Mladost 4 Residential Area, in close proximity to Business Park Sofia (South-East Europe's largest business complex, where over 200 big national and international companies are seated) and to Vitosha Mountain, which is a favorite weekend destination for Sofia's residents. It has excellent transport connections to the city center, while Sofia Ring Road provides quick access to all parts of the city and to Sofia airport.

The complex is also remarkable for its unique exterior, interior, and landscape design. Moreover, it will offer a wide range of amenities, carefully selected to satisfy the needs of successful professionals and young families. These will include one of Sofia's biggest fitness and spa centers, a swimming pool (open in summer and covered in winter), various sports facilities, a boutique shopping center, a supermarket, an on-site kindergarten, restaurants and cafes.

Projects like City of Fountains are the preferred choice for the growing population of Bulgaria's capital. Its unique combination of location, top quality and amenities makes it a favorite place for home or for simply enjoying a cup of coffee in the pleasant atmosphere.

Many of our clients are confronted with trying to sell a home out of necessity, or just because they do not like it any more. Because of the so-called mortgage crisis and other problems in our economy, it is no secret that the value of homes in many parts of the United States has declined; some areas more drastically than others. With that decline, many people are now finding they owe more on the home than they can sell it for. Some people even have vacation homes or homes they have left behind in a career move that they cannot afford payments on. Here are some steps to take if you find yourself in this situation.

Behind on Payments

If you are behind on your mortgage, lenders are generally willing to help you with one of three options. These include temporarily reducing or waiving payments altogether, setting up a short-term repayment plan, and adding the unpaid balance to the principle of your current loan which increases your payments slightly. The lender does not want to foreclose on any homes, but especially so in today's markets where foreclosures are at an all-time high.

The "loss mitigation" department is who you need to talk to if you need to work out a plan. Be sure you can follow through on the plan you develop, or the lender will not have much sympathy for you the second time around. Even if you cannot make the payments, corresponding with your lender is still the right thing to do. Tell them what is going on and what they can expect from you in the future.

Quick Sale

If selling the home is the right thing to do, make sure to put it on the market immediately. If the market is down and it is the right time in your life to sell, then you need to sell regardless of the market. A quick sale is a good option if you have equity in your home. Make sure to meet with a competent real estate agent to determine how to price your home and what your sale expenses will include.

Deed in Lieu of Foreclosure

If your house has been on the market for some time but has not received any offers over the balance of what you owe the lender, you may opt to do a deed in lieu of foreclosure. Generally you can only have a first mortgage on the home, and you have to make an effort to sell your home first.

By doing a deed in lieu of foreclosure, you are offering the lender to accept what the home will bring along with the deed to your home, leaving you free of the mortgage. For instance, if you owe $300,000, but only receive offers for $290,000, the lender may agree to take the offer along with the deed, and write off the $10,000 balance, releasing you from the home. The lender avoids the time and cost of foreclosure in this instance.

Short Sale

Another option is to negotiate a short sale. A short sale is a settlement with your lender to accept less than what is owed on the property. The lender does have some responsibility for lending you money that they should not have given you. Of course, the ultimate responsibility lies on you for having signed up for the ride.

Essentially, you sell the home for what it will bring and the lender agrees not to go after you for the deficit. A settlement will most likely damage your credit score, but getting released from a home that you cannot afford is the best course of action. You may be liable for taxes on the amount that was settled, but I would rather pay taxes on $50,000 than an entire $50,000 debt.

Foreclosure

Foreclosure is your last option. In many states the lender can go after you for the unpaid deficit, and a foreclosure will affect your credit for years. Do what you must to avoid a foreclosure, but face reality wherever you are. Do what is right for your family when it comes to housing and financial decisions.

To help avoid any of these problems in the future, put down at least 20% (or more) as down payment on a home, and do not buy if you need to take out more than a 15 or 20-year fixed rate mortgage. Your payments in this case should not exceed 25% of your household take-home pay.

This article will be an introduction to the "Secondary Market." This alternative means of financing that is not known by many people versus the traditional Primary market . The Secondary Market buys and sells "Notes" which generate the funds to finance property sales.

In the first article I suggested that owners and realtors add " Financing Available" to their ads and signage, and put their prices back up to what they wanted for the property. A few savvy Realtors, called to make sure the "note funding" was not competitive with them. The answer is NO it is not.. To the contrary, Note funding is an alternative funding source for the Realtors. The Note buyer has no association with the Realtor/ client normal course of business other than to provide the funds. for the closing and buying the mortgage note.

That article generated a number of responses from readers with questions and comments, all of which I appreciate. Many property owners and Realtors said that after they added "owner financing" or "financing available" to their ads and signage, their property inquiries increased substantially. Several had also had gotten offers based on the prospective buyers seeing "Owner Financing" on their signage and in their ads. Why? The prospective buyers didn't qualify for a traditional Lender's loan, but did qualify for the "Note" Company's funding. No banks are needed.

This is not deceptive advertising. The Note Company will furnish the funds. Of course you should be working with an ethical, secondary market company before you do this. I can recommend a number of companies for you to consider.

You should not have to pay any up front fees, or any cost for the note closing.

What is the "Secondary Market"?

Lets look at the answer to this question, in light of the lending and real estate markets, which are now in turmoil.

The Secondary Market, often called the "The Paper" market or the "Cash Flow Industry" are the names given to the buying and selling of income streams of cash in the Financial Markets.

This industry has been around for decades, and has EXPLODED. in the mid to late1990s, Primary Lenders have made billions of dollars worth of bad loans in recent years, making large profits for themselves. Now, they have lost billions of dollars, due to their bad judgement and inappropriate loans. This event has created financial disaster for many of unwary homeowners. They are now out in the cold being unable to purchase a home because of their damaged credit report. because they got duped in by unethical variable interest loans.

Many primary traditional lenders are noted by their expensive high profile advertisement, and are household names. Many of them cater just to their wealthy, perfect credit score customers and stockholders, rather the average guy who really needs help.

The forces of supply and demand created the cash driven "Note" Industry. It has been around for decades filling a void that has been left by the traditional Primary lending sources.

The Secondary Market doesn't spend millions of dollars on unnecessary advertising, but is constantly devising innovation solutions to solve ever increasing financial problems. The market consists of smaller more efficient companies, and can implement financial solutions much faster than larger more cumbersome primary market. There are a large number of wealthy private investors and entrepreneurs who furnish most of the funds, and their markets are open to everyone.

In addition to buying real estate notes they also buy Annuities, Court Settlements, Lotteries, Insurance Settlements, Medical Malpractice Settlements, Mobile Homes (with land), Raw land, Land with Improvements, (Utilities), Farm Land. annuities Viaticum Life Insurance Personal Notes, and Business Notes, They will also that pre-fund a plaintiff and attorney in a lengthy lawsuit, to defray cost and then buy part or all of the deferred settlement.

The "Secondary Market" is proving to be a blessing to millions of people who have found it to be a real, legitament, ethical Industry, that has solved many of their financial problems.

Coming up with quality written content might be the hardest part of creating a real estate website. Many agents and brokers must put the development process on hold for months while they figure out how best to detail their services and encourage buyers and sellers to do business with them - since content-heavy websites are the norm in real estate, it's hard to launch a site and compete with others without this key element. Fortunately adding content is not always as hard as expected, and there are a wide variety of resources to help agents and brokers get past this hurdle.

Many successful agents and brokers could write great website content if they recorded and transcribed their daily interactions with clients. Unfortunately this option usually isn't feasible, but it's often good enough just to realize that the potential is there. The challenge becomes learning how to document a successful real estate experience, but with a little practice, any real estate professional can start doing this.

As an agent trying to write good content, one way to get started might be to pretend you're talking to a client, or a good friend who's thinking of entering the local market. Once you get going there are a wide variety of starting points you can use to generate information. These can include but are not limited to: reasons you're buying or selling real estate in this community; trends that have shaped the local market in recent years; the city's most prominent architectural styles; price ranges for different types of homes; information on the community's fastest growing areas, and the types of real estate being built there; information on the city's major sections, and how residents refer to them; how the economy is effecting local real estate; and information on the city's commercial areas.

Many agents would skip content writing altogether if they could, and the good news is they can. Many web development companies offer professional copy writing service alongside programming and design, so real estate professionals can spend more time dealing with clients rather than learning new skills they can't use regularly on the job.

Another option for outsourcing quality content is to make a syndication deal with a local media outlet or news magazine. Many real estate professionals, particularly in large cities where publishers are always looking for extra revenue sources, have success with this option - getting aligned with an established publication and its market can instantly expand an agent's sphere of business. One potential drawback to this strategy, however, it that it risks placing duplicate content on your website, which could cause your pages to be ignored by search engines, and become harder for users to find.

To avoid this, consider buying exclusive web rights to the content, and ask the media source if they plan to keep the content posted on their own site - if they do, you should pay considerably less for it.

These days it can be quite difficult to sell a Lakewood Ranch home. The real estate market has gone down so quickly that houses are selling for significantly less than they were just a couple of years ago.

For example, houses on our block in Lakewood Ranch are selling for $100,000 dollars less than they were just two years ago.

This makes selling a home in Lakewood Ranch a real challenge.

And, this makes finding the right Lakewood Ranch realtor that much more important.

Unfortunately, many people make crucial mistakes when choosing their realtor...mistakes that can end up costing thousands of dollars...sometimes tens of thousands of dollars.

Here are 7 tips for choosing a Lakewood Ranch Realtor. Tips that will not only help you sell your house, but also save you money!

1. It's business, it's not personal - Don't choose a realtor just because she is your friend. That doesn't mean you can't choose a friend to be your realtor...it just means that shouldn't be the reason you chose her. Choosing a friend to be your realtor can be a huge mistake for two reasons. First of all, just because the person is a good friend doesn't mean the person is a good realtor. This leads to the second problem, which is your friendship will most likely end.

2. How many listings does the realtor have? A realtor with many listings is not necessarily the best choice. Remember, you want a realtor that is going to devote the necessary time needed to sell YOUR house. If a realtor has many listings then make sure to ask if they have an assistant. Many listings and no assistant simply means the realtor will not be able to put in the time needed to sell your house.

3. When will the realtor list your house in MLS? If you want to sell your Lakewood Ranch home you must be listed in both Sarasota MLS and Manatee County MLS. This is the single most important step in selling your Lakewood Ranch home. Therefore, your realtor should have your house listed in BOTH within 24 hours. There is simply no excuse for a realtor to take one or two weeks get your house listed.

4. How many pictures will the realtor post in your listing? Along with knowing how long it will take to get listed in MLS you should also ask how many pictures will be posted. If there are no pictures in MLS chances are your house will not be shown. Remember, if a picture is worth a thousand words then fifteen pictures is worth fifteen thousand words.

5. Where else will the realtor list your house? While having your home listed in Sarasota and Manatee County MLS is by far the most important, you should also ask your realtor where else your house will be listed. These days many people search for a home on the Internet without a realtor. They search in places like Craigslist, eBay, Yahoo Real Estate, Google, Zillow, Truilla as well as online newspaper websites such as the Sarasota Herald Tribune, New York Times, and the Boston Globe. Make sure your realtor intends to list you in as many (if not all) of these places.

6. Will the realtor tell you the truth? Make sure to find a realtor that has a reputation for being brutally honest. Often times realtors tell their clients just what the client "wants" to hear. Realtors are often afraid of telling the client the brutal, honest truth. The fact is you are hiring a realtor for their expertise, not just to tell you what you want to hear. Let's face it...if you bought a house in Lakewood ranch in the summer of 2005 you are NOT going to be able to sell it for the what you paid for it. If you bought your Lakewood Ranch home for $450,000 in 2005 you should expect to sell it for roughly $350,000 in 2008. That's the brutal, honest truth. A realtor who tells you otherwise is just telling you what you want to hear.

7. Will your realtor cut their commission? This is important! Most brokers will NOT allow their real estate agents to cut their commission. And, even if they do, most realtors are not willing to do so. This is a huge mistake on their part. A typical real estate commission has the seller paying 6% of the sale price (3% to the selling agent and 3% to the buying agent). However, there is absolutely no reason why YOUR agent (the selling agent) should not cut their commission. Just think of the amount of money you can save if your real estate agent only charges you a 1.5% commission. You can literally save thousands of dollars. For example, a Lakewood Ranch house that sells for $500,000 would typically have to pay $30,000 in commissions ($15,000 for each agent). Now, if YOUR agent cuts her commission in half, you just saved yourself $7,500! Again, most brokers will not allow their agents to do this so you MUST ask. If they are unwilling to do so then continue your search for another Lakewood Ranch realtor who is willing to cut her commission.

If you're looking to improve the look of your home to help in getting a quicker sale, or to obtain top dollar, all it takes is a few simple improvements to transform your home.

It's a good idea to spruce up every room of your home, but be sure to give a little extra attention to your bathrooms and kitchen. These two areas of the home are typically where you will get back every dollar you invest.

Resurface Cabinets & Counter Tops

It's important that your home details a modern look... nothing turns off a potential buyer more than viewing an outdated home. You can bring a little modernization into your home, all while avoiding a major renovation. It can be quite in-expensive to refinish outdated cabinets or a counter top, but the results can be stunning.

Brighten Up Your Home

One of the quickest and easiest ways to create a welcoming atmosphere in your home is to use the power of lighting to your advantage. A well lit room can really brighten things up, and can be used to make a room actually appear larger. Think about how you can be a little more creative with lighting in your own home.

The Power of Paint

Painting has to be the most in-expensive improvement you can make to your home, and it's amazing how a simple fresh coat of paint can transform your home into something new. Be careful with your color selection though... although bright colors will grab your attention, they will not appeal to everyone. You're best bet is to stay with a neutral colour but try something a little different then white.

These are just a few of many simple ways you can liven up your home, and bring it back to life... and their easy on the budget.

Is your home in need of renovation? Before you try to sell your home, there are a few things that you will need to repair. If you neglect to make necessary adjustments, you could lose a buyer.

One of the very first things that home buyers will look at is your driveway. Is your driveway paved? If you have already paved your driveway, is it starting to crack? Resealing your driveway really only takes one day to complete, but it can make a world of difference. Why should you bother with your driveway? Imagine pulling up to a home that has grass growing through cracks in the driveway - would you buy a home in this condition? Chances are, a worn driveway may turn you away immediately ... and this is precisely what will happen to potential buyers. Spend the extra time, and fix your driveway - though you will not want to neglect the inside of your home either.

While painting your walls and ceilings is fairly standard, you may want to consider installing a new kitchen sink as well. Why? The number one thing that buyers look for is a spacious, clean, and inviting kitchen. Should your kitchen sink come equipped with rust stains and cracks, a buyer is likely to run away from your kitchen screaming (ok, this might not actually happen, but you get the idea). The good news is that kitchen sinks are easy to renovate - you can even replace your kitchen sink without any professional help. What kind of sink should you buy? Skip the designer (eccentric) sinks, and replace your existing sink with a plain, white, sink. And, while we're on the topic of kitchens, don't forget about those countertops.

If your wallet is starting to hurt at the thought of replacing your kitchen countertops, consider this - the counters within your kitchen take up most of your kitchen space. What does this mean? Well, if your counters are scratched and marred, buyers will not be looking at those nice cabinets. Instead, buyers will immediately be drawn to the counters ... so make them really stand out (in a good way). Choose countertops that compliment your kitchen design, but don't skimp on the cost - a buyer will enjoy seeing new countertops that will last a lifetime.

While staging, painting, and preparing your home is essential, the aforementioned home renovation tasks are also crucial to your home sale. Remember to really view your home critically, and never leave any large eyesore within your home. Buyers want to walk into a house that feels welcoming, so take the time to fix those things that may turn a buyer away.

Is your home peculiar in some manner? Whether you live in a tree, or under water, unusual homes are not impossible to sell... they just take a bit more effort.

Though the marketing aspect of an unusual home is just as important as advertising a regular home, you may not find your ideal buyer by placing an ad in the local paper. Homes that are strikingly different require eccentric types of buyers, so you may want to consider advertising your home internationally - or, in a few states across the nation. When you do decide to market your home, make sure that you list all those things that make your home stand out. If your home has a particularly interesting architectural appeal, why not list it in an architectural magazine? Try to think of the type of people that would buy your home, and list your house accordingly.

One sure fire way to sell an unusual home is to try and create some sort of commotion surrounding your home. For example, if your home happens to be built entirely of glass, why not host a wine and cheese party for the entire neighborhood? If you invite the entire town into your home (and show off your home's appeal in the process), you are likely to generate some interest. Does this approach sound a bit odd? Don't forget, many homes are sold through word of mouth. However, if you do not have any initial success with sheer marketing techniques, you may want to check your local zoning code.

Can you home be turned into a commercial space? Maybe your quirky home would be best suited as a restaurant or a factory. If you can find out what sort of zoning your home identifies with, you may be able to market your home in a whole new way. In fact, simply suggesting the idea to some buyers may be enough for them to track down (and alter) zoning laws on their own. Sometimes, prospective buyers just have to pushed in the right direction ... of course, a bit of public advertising doesn't hurt either.

Search the internet for television shows that showcase strange and unusual homes (you'd be surprised at all the shows you find). Submit your home to a show, and allow television cameras to sell your home for you. While you can try to list your home in a number of places, television has a way of reaching nearly everyone. This tactic may be a bit unusual, but hey - so is your home, right? As you can see, selling a bizarre home is not impossible ... it just requires a bit of imagination.

Selling your house or flat can often be a time consuming and stressful process. This is why many people choose to use an estate agent to aid in the process. Estate agents can be handy as they can offer advice and take a lot of the effort out of trying to sell your home by arranging visits to your property, advertising the property and giving advice on a valuation. However estate agents tend to charge around 1-2% commission on the value that your house is sold for, so in most cases you lose a few thousand pounds for the privilege.

However the rise of the internet has resulted in an increase in private house sales. This is because people can now make private house sales through the internet using websites which, for a small fee usually around £100, allow them to post a listing on-line showing all the details needed. Around 80% of UK property buyers now use the internet to find their next home so it is definitely worth trying to sell your house on-line.

So you have decided to sell your house on-line now you need to find out how you get the kind of price you want for your property? Many people decide to invest in home improvements. Either simple changes such as new kitchen wall tiles or bathroom tiles, while others can go that little bit further by having new fitted kitchens or changing the bathroom layouts. Both ways can help you to sell your house for the sort of price you want but you need to work out if it is worth the cost of changes.

Home staging or property presentation is another way you can improve the odds of selling your house and increase the chance of getting the sort of price you would like for your property. Home staging is all about marketing your house to the general public and showing it in it's best light so rather than viewing the property as your home you need to look at it from the buyers point of view.

Home staging consultants can help as they view your home as an outsider and can see how it can be used to its full potential. This will help to insure a fast sale and a good profit. The only down side is that obviously you will have to pay a home staging consultant to provide their expert knowledge and experience.

There are a few easy ways you can perform home staging for yourself. Doing simple things such as clearing your house of clutter will give your home a more minimalist feel so that potential buyers can visualise how they could use the space. It is also important to thoroughly clean your house especially if you have had pets living in the house or are a smoker as these are likely to leave a smell. It may even be worth hiring a professional carpet and furniture cleaner to insure that your house is spotless.

We all want to save a few bucks when we can. But there are times when scrimping is not worth it and in the end, it could cost your more than you can save.

Hiring a Realtor® is one of those times when it isn't wise to scrimp. When the stakes are high, as with the investment of purchasing or selling your home, your want a professional on your side.

So what can a licensed Realtor® offer you?

1. Help you determine how much house you can afford. Sometimes lenders have limited options when it comes to purchasing a home. A Realtor® can help you get more creative and possibly even connect you with a lender who can be more flexible with your funding options.

2. When looking for that ideal home, you either need to have the time to peruse the listings or leave it to a realtor, whose job it is to know all of the listings. By giving your Realtor® an idea of what you are looking for, they can keep their eye open on your behalf while watching the price range.

3. If you are moving to a new city or town, you want to know the ins and outs of the community. A Realtor® can give your local information such as what the zoning rules are, where the local schools are and what the environment is like. All of this can be of great help to you before making your big investment in a town you are unfamiliar with.

4. If negotiating price is your weakness, whether in selling or buying, a Realtor® can help do this for you. The Realtor® can also help you with date of possession, inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. During the evaluation of your property, your Realtor® will follow up with due diligence. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. The Realtor® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property.

6. When selling your home, the Realtor® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

7. When it comes to promoting your home for sale, the Realtor®, who sees people day in and day out looking for property as well as other realtors, can be your perfect marketing strategy. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer.

8. Your Realtor® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your Realtor® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

9. Last, the Realtor® can answer questions and tie up loose ends before the closing of the house. They complete the paperwork and resolve issues, which can save you many headaches.

The general public seems to believe that real estate agents are all equal. On the contrary, all real estate agents are not the same. This article focuses on the distinction between a REALTOR® and a real estate agent, as well as the advantages you can gain by using a REALTOR® rather than trying to sell your house on your own.

So, what is so special about the title of REALTOR®? In order to be designated as a REALTOR®, a real estate agent must belong to the NATIONAL ASSOCIATION OF REALTORS®. As a member of this organization, REALTORS® must abide by a written code of ethics, with consequences similar to disbarment in law and losing a medical license as a doctor. Having been in place nearly 100 years, the code of ethics is annually revisited and updated to meet the needs of our changing society and to ensure REALTORS® follow behavior fitting a professional. So, the main aspect that sets a real estate agent apart from a REALTOR® is this code of ethics.

As a home buyer or seller, working with a REALTOR® should give you peace of mind that you will receive fair and ethical treatment in each instance. As opposed to a behavior code that is simply "understood," REALTORS® promise to follow this code of ethics, and are held responsible for their actions. In fact, the governing body can subject REALTORS® to punishment if they are lax in following the code.

Although the knowledge that a REALTOR® must adhere to a higher authority is reassuring, there are a number of other advantages to using a REALTOR® in your real estate transaction.

REALTORS have experience:

Having been through the process of buying and selling multiple homes, REALTORS® have a bank of knowledge to rely on and are prepared for any potential surprises or pitfalls that could crop up. Since purchasing a home is often someone's single largest investment, it just makes sense to rely on a professional to guide you through that process. If someone takes you to court and sues you for $10,000, there's little question you will hire a professional, like a lawyer, to make sure you hang onto your money. With an investment of 10 times that amount, isn't a professional worth it?

REALTORS have access to marketing tools:

Although you can run an ad in your local newspaper, REALTORS® have access to a number of other avenues where they can help you appropriately price and market your home. Since immediate exposure is crucial when you are selling a home, pricing and marketing are two of the most important tools at your disposal. If you over-price your home, you could be wasting your time with the wrong potential buyers looking at your home. If you under-price your home, you could be missing out on thousands of dollars and never know it. With access to the local multi-listing service (MLS) databases, REALTORS® have access to all local listings from any agency. Through the MLS service, your home is featured on numerous websites, so your home receives maximum exposure that is not limited to your specific area.

REALTORS® know how to negotiate:

As part of their job, REALTORS® negotiate on a regular basis. During the negotiation process, there are a number of aspects to take into account, making it invaluable to have a professional in your corner. Considering factors like pricing, financing, inspecting, repairing, title issues, fixtures staying with the home, possessions, and human emotions, just to name a few, there are countless areas where a REALTOR® can help you stay on top of the game during negotiations. REALTORS® make sure you receive the best deal for your situation, since they have experience with what it possible and/or realistic.

Additionally, the difference between the selling price of the average "For Sale by Owner" home and the average home sold through a realtor was around $60,000 ($187,200 for FSBO and $247,000 for REALTOR® assisted). Even taking commissions out of the mix, those numbers published by the 2006 National Association of REALTORS® profile of Home Buyers and Sellers further demonstrate the value of using a REALTOR2006 National Association of REALTORS® profile of Home Buyers and Sellers.

REALTORS® are motivated:

Most people know REALTORS® don't get a paycheck unless your home is sold (or the purchase goes through). In other words, it is in their best interest to work with you! Can you imagine a world where lawyers didn't get paid unless they won your case? Or doctors didn't get paid unless they cured you? If you work with a REALTOR®, they are used to this reality. Knowing they need to get the deal done to put food on their table is a serious motivational tool for your agent. A horse will run faster if you dangle a carrot in front of it, and the same motivation applies for real estate professionals.

Hopefully, you now recognize the advantages of using a REALTOR® for all your real estate needs. In addition to the REALTOR® code of ethics, REALTORS® have access to their experience, advertising opportunities, negotiating abilities, and motivation to sell your home, which definitely stacks the evidence in their favor. Be sure to call a REALTOR® first next time you are ready to buy or sell a home.

When it's time to sell your home, a little effort can mean a big pay-off. While I'm sure you've heard the term home staging, preparing your home for a sale doesn't have to be complicated. Sure, you can hire professionals to completely update and re-decorate your home. Market analysis is showing that the money invested comes back plus some in higher sale prices and faster sales. However, there's a lot you can do on your own to spruce up your home for sale, giving buyers an excellent first impression.

The outside is obviously what someone sees first about your home. If you're exterior needs re-painting, it's worth doing it. A cute paint-job on a cute home makes it so much more appealing than a faded and pealing one. Choose trendy colors, but don't go too crazy. Anything too bold or unique might not be to a buyer's taste. Sometimes a home just needs a little wash to brighten it up. Decide what your home needs and don't hesitate to do it.

After the house itself comes the yard. If you rented a power washer to clean your house, be sure to wash the driveway and walkways as well. These often get stained by water run-off and can accumulate moss and other living things. A good washing should make them look crisp and new.

How is your landscaping? Do some pruning. If you aren't sure what to do, there are quite a few very informative web sites out there, or you can probably hire a professional for not too much money, depending on the size of your yard. Hedges are usually pretty straight forward to trim, as long as you've got a bit of a sense of balance and think you can maintain a straight line. If not, it might be better to pay a professional than end up with an awkwardly crooked hedge-height.

Flowers can really make a place look cheerful and beautiful. Bulbs are perennials, and a really low maintenance way to make your yard look good. If you are anticipating a spring or early summer sale, plant some bulbs in the fall.

Once your yard has been beautified, turn your attention to the front door. Make sure it looks good and opens smoothly. In fact, this goes for all the doors in your home, including those on closets and cupboards. Squeaking or sticking doors signify a worn-out home and the need for an immediate repair. If a buyer sees immediate repairs are needed, they may not be as quick to appreciate all your home has to offer. Replace latches if necessary, grease hinges and be sure to wash dust off of the ridges in your doors and cupboards. I just did this the other day in my home and was surprised how much dust had collected on my doors.

This brings me to another important point: cleaning. Home selling is a time for doing those deep cleans that might not be a part of your weekly or even monthly cleaning routine. Clean every corner and crevice. Kitchens and bathrooms are especially important to buyers.

De-cluttering is also an important step. Buyers want to see the home, not all your decorations. Don't take everything away and make your home look sparse, but if you collect nick-knacks, or have crowded furniture, it might be a good idea to get an early start on your packing. And don't think you can stuff everything into a spare room or closet. A buyer is going to want to see those spaces too. If you really have a lot of stuff, consider renting storage space until your move is complete.

While some of this might seem like a lot of work, it is shown that nicer looking homes sell faster, and frequently sell for closer to, or even higher than, their asking price. So try to get the most out of your home. I'm sure you'll be glad you made the effort.

TIP #1: Educate yourself:
Stay informed about your real estate market. Learn about all the recent sales in your area. Maybe a house was sold super-cheap. It could have been parents selling to their children, a very beaten-down, bank-owned Foreclosure. Understanding your market is a huge key when Buyers strive to use other 'Solds' against you in negotiating. Know what is going on in your marketplace.

TIP#2: Set a realistic price:
The best advice I can give is to price your home 1-2 percent less than similar homes in your area to help attract Buyers. The higher your price is over comparable homes in your area, the longer it will sit on the market. The first thing to do if you are selling in a buyers market is to price your house accordingly. There are more homes on the market today than ever before, and if your price is a little high, it may not even be looked at. Buyers are now more cautious when it comes to investing their money in a new home, especially when the lending requirements are very strict. What is relevant in today's market is not the previous value or future value, but what is it worth today. We all want to sell today. Use today's comparables to help you decide a competitive price. Also, be open about a price reduction, as that will get your home seen by more buyers as your home is more competitively priced. I recommend that you List the price at or below your competitors.

TIP #3. Broker/Agent Preview:
Make sure your agent is going to get your home on the Broker/Agent Preview List. This brings the other agents from the office to see your home. The biggest point is when they are impressed about your home, they will tell their buyers about your home. A second reason is these agents will provide good feedback about other items you might consider doing to improve your homes presentation.

TIP #4. Paying the initial costs:
This is such a huge point that often overlooked. Once your home is all fixed up and ready to sell, get a fresh Home Inspection done paid for by the Seller. Offer in your listing to pay for the appraisal. Offer a Home Owners Warranty Policy. These are direct costs to the Buyer, and by providing them, you are separating yourself from the competition.

TIP #5: Consider paying the buyer's closing costs:
Paying the Buyers closing costs is a great incentive you can offer a buyer, especially with the tougher lending guidelines. Buyers have a hard time getting loans in today's market. All the help we can assist them with makes your deal become more attractive, so be prepared to consider this option up front. Closing costs include appraisal, loan points, credit report, title insurance, homeowners and flood insurance and closing fees. Paying some or all of these costs is a major motivation to cash-strapped buyers; these costs usually run about 3 to 6 percent of the cost of the house. Get in the right mindset by deciding to assist Buyers upfront. If you think like a buyer, and offer the buyers things they need to make the deal close easier, the more likely you are to have a deal that closes. This gives you a competitive edge.

TIP #6. Print advertising:
Many homes are sold to friends, family & neighbors of people in the local market. Either have your Realtor, or you (if FSBO) should mail flyers about your home to the closest neighbors (300-500 homes minimum).

TIP #7. Virtual Tour:
Have your agent create a virtual tour of your home (or create your own. You can also market that tour on www.MySpace.com. Create a MySpace page just for your home. Put your Myspace info on all your flyers and marketing pieces for all to see your video tour.

TIP #8. Websites:
If you've listed your home with a Realtor, verify they have listed the home on Realtor.com. If you are a FSBO, market your home on www.craigslist.com. Also search for other local classifieds. In my area, local news stations have Classified sections on their websites, and those are used by many in our area. Find your free classifieds in your area and market on those sites as well.