‘Brexit’ Could Give U.S. Real Estate Brief Boost

I was floored when I heard the news about BREXIT – and honestly the first thing I thought of – investing in real estate.  Enjoy this article….

 

‘Brexit’ Could Give U.S. Real Estate Brief Boost

DAILY REAL ESTATE NEWS | FRIDAY, JUNE 24, 2016

 

Britain’s vote yesterday to exit the European Union will likely have a long-term impact on the world economy, but in the short-term, U.S. real estate could be flooded with investors flocking to the U.S. as a safe haven, pushing up the dollar and sending down mortgage rates.

“Demand for U.S. real estate could rise,” says NAR Chief Economist Lawrence Yun.

On the commercial side, global corporations could show additional interest in U.S. real restate as they come to see the U.K. as a less certain place to set up or maintain their businesses, Yun says, “especially in London, as it becomes a less attractive place to conduct global business.”

While a rise in the dollar could hurt U.S. exports, it’s also expected to put downward pressure on long-term mortgage interest rates. “Mortgage rates will tumble,” says Greg McBride, chief financial analyst at Bankrate.com, “possibly hitting new record lows. If you’re a borrower, don’t wait to lock in your rate, as this opportunity may not last long.”

However, Fannie Mae Chief Economist Doug Duncan says low rates because of economic uncertainty could last for a while. “The Fed will very likely be on hold for some time as it observes the impact on U.S. and global financial markets and economic activity,” he says.

If mortgage rates — already at historic lows — drop even further, that could help drive up sales of all types of U.S. real estate, including on the residential side. Foreign households who might have otherwise looked to London to buy might turn to U.S. residential real estate, although U.K. citizens, who historically are among the top buyers of investment and vacation homes in the U.S., could pull back. “The British economy will be disrupted, and hence we should expect fewer Brits able to buy in the U.S.,” Yun says.

Steve Rick, chief economist at CUNA Mutual Group, was quoted in a Bankrate.com article saying a further drop in mortgage interest rates could give new life to home-mortgage refinancing, which started to cool early this year after several years of big growth. “This would create another mini refinance mortgage boom at financial institutions, as homeowners rush to lock in near-historic low interest rates,” he said.

In the long run, though, the uncertainty stemming from the vote could cause broad global weakening, which would hurt jobs, income, and consumer confidence. That would be a net-negative for U.S. real estate, even if it sees gains in the short-term.

—Robert Freedman, REALTOR® Magazine

What are your thoughts?  I’d love to hear – email me at Info@TheCatonTeam.com

I read this article at: http://realtormag.realtor.org/daily-news/2016/06/24/brexit-could-give-us-real-estate-brief-boost?om_rid=AACmlZ&om_mid=_BXdXpEB9PJZQ4u&om_ntype=NARWeekly

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

On the United Kingdom’s vote to exit the European Union (a.k.a “Brexit”)

One of my lender associates sent this email and I thought I would share it with you.

On the United Kingdom’s vote to exit the European Union (a.k.a “Brexit”)

The Brexit vote is over, and 52 percent of UK citizens voted to exit the EU, leaving a lot of political and economic uncertainty in the UK, Europe and the rest of the world. The UK Prime Minister, David Cameron, has resigned and Boris Johnson is the leading candidate to replace Cameron.

We’ve addressed the potential upsides and downsides with Supreme’s Senior Vice President of Capital Markets, Steven Chiou.

Q: How will Brexit negatively impact economics globally?

A: Forty-four percent of UK exports go to EU countries. Those exports may now be subject to heavy tariffs and more restrictions. This means the UK’s GDP for 2016 may be now down to zero and GDP for the EU may be lowered by .25 to .50 for 2016. Stock markets plunged today while investors sold stocks and moved money into safe-haven US Treasury Bonds or Mortgage Backed Securities (MBS).                                                     

Q: Should we be concerned about global economic stability?

A: All central banks in the world have committed to providing liquidity to calm financial markets. This exit will also be a two year process, so change should come more slowly, not suddenly.

Q: What does the dip in the stock market mean for the mortgage industry?

A: The 10 year treasury gained 1.625 points in price and 30 year MBS current coupons gained .625 percent. Supreme’s rate sheet price improved from .50 percent to .75 percent this morning.* Essentially, this occurrence is favorable for the bond market and mortgage business, as the rates are going to stay low for a while.

*For consumers, it’s an opportune moment to buy that dream home, or refinance loans for a better rate.

Please feel free to reach out with any questions or updates with any clients you would like me to work on!

Michael Haigh

Branch Manager – NMLS# 200819

415.269.4461 (cell)

 Thank you for reading… For all your Real Estate needs call The Caton Team

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedInhttps://www.linkedin.com/in/sabrinawendtcaton

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

Despite Money Issues, Millennials Want to Buy

Despite Money Issues, Millennials Want to Buy

 

Millennials have a lower net worth than their parents did at their age, and a lack of money coupled with student loan debt continues to be a roadblock to home ownership for this generation, according to Paul Taylor, executive vice president of the Pew Research Center and author of the book “The Next America: Boomers, Millennials, and the Looming Generational Showdown.”

Taylor presented his findings at the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. last week. Among them, households headed by an individual under the age of 35 had a median net worth of $15,260 in 1983, as compared to $10,460 in 2013. However, wealth has significantly increased over that time period for those 65 and over. Median net worth for that age group was $210,500 in 2013, up nearly $100,000 from $120,524 in 1983.

The financial situation of the millennial generation is reflected in the real estate industry. Historically, first-time buyers have accounted for about 40 percent of total home buyers annually, but that figure has trended downward since 2011 to 32 percent today. It’s not surprising, Taylor said, as a record number of young people are strapped with student debt. This trend has also led to 39 percent of millennials currently living with their parents.

“These shifts are creating big generation gaps that will put stress on our families, our politics, our pocketbooks, our entitlements programs, and perhaps our social cohesion,” Taylor said.

Jessica Lautz, managing director of survey research at the National Association of REALTORS®, agreed that the major hurdles to home buying for people under the age of 35 includes flat wages, rising rents, and student loan debt. The 2016 Profile of Generation Trends shows that one in six younger baby boomers purchased a multi-generational home to accommodate their own aging and returning children.

But the vast majority of millennials are optimistic about home buying, Lautz said. In fact, 94 percent of millennial renters say they want to own, according to a recent NAR survey. And what they’re looking for is affordability in first-ring suburbs with shorter commutes and good schools.

What’s more, 87 percent of millennials who bought a home in 2015 used a REALTOR®, Lautz said. “Not having been through the process before, they rely on real estate agents to get them through the competitive market and to the finish line,” she added.

Despite major economic changes affecting this generation, one thing has stayed the same: the median age of a first-time buyer still hovers at 31.

“This means that they are ready and willing to buy if they can, in fact, break into the market,” Lautz said. “It’s getting more difficult to get to that point, but the desire to do so hasn’t changed.”

—Erica Christoffer, REALTOR® Magazine

 

I read this article at: http://realtormag.realtor.org/daily-news/2016/05/16/despite-money-issues-millennials-want-buy?om_rid=AACmlZ&om_mid=_BXOjTSB9NnyKc0&om_ntype=RMODaily

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

3 Questions You Should Ask Yourself Before Ever Taking A Loan

3 Questions You Should Ask Yourself Before Ever Taking A Loan

 

Saving money is hard! We know! Most of us already have student debt, or other things going on and could never get enough money together to get the things we need, and that’s often where a loan comes in.

We know Career Girls who have taken loans out with the bank for everything from degrees to cars, so here are a few things to keep in mind if you’re considering it.

1) Be sure that you really need a loan!

You may want a new car, but you may not need it. You may want a new house, but you may not need it. Sure, there are situations in life when it’s absolutely okay to take a loan for a house or a car, but there are also situations when it’s better to think twice. If you have to stay with your parents for an extra year – do it.

2) Calculate, calculate, calculate!

In the end, a loan is all about mathematics, so here is the one question you should definitely answer before taking the step: When will I be able to repay the loan? And, perhaps more importantly: Is it a problem for me to live with a loan for such a long time?

3) Understand your loan!

There are many different loans depending on what you need it for. Don’t sign the paper without knowing what you’re getting yourself into, collect as much information possible about the loan you’re deciding on and stay away from money lending services with super inflated interest rates!

 

I read this article at: http://www.careergirldaily.com/3-things-keep-mind-taking-loan/

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

5 Things I Have Learned From Buying A House

I truly enjoy sharing articles that relate to Real Estate. Especially when lessons can be learned from others.  I’ve added my 2 cents in italics – Enjoy this one about Buying a Home….

Thanks for reading – Sabrina

 

5 Things I Have Learned From Buying A House

 

Owning your own place is the ultimate goal. But you know what? It isn’t easy. You need to be on the ball and know exactly what you are getting into.

Here are my top 5 tips from my own personal experience.

  1. You need way more money than just the deposit!

It’s easy to just think about the deposit, that magic number of 10 or 20% can become something to be obsessed with. Working hard, cutting the spends and being frugal all help to get towards that goal. But oh god you need way more money than that! There’s furniture to buy, legal costs, removal costs, painting and decorating. There are heaps of extra expenses that you don’t really think about, but they can bite pretty hard!

Indeed saving for the downpayment is the biggest hurdle to homeownership.  And you also needs funds for closing costs and as this article shared – moving and renovation expenses.  Maybe the home just needs paint and carpet – but that cost money too.  So make it a point to save save save more than just that downpayment.  Also – there are home loans that do not require 20% down and there are also home loans to help you renovate a property – contact The Caton Team and we can help you.

  1. The photos are always deceptive.

Not a shocker, but totally true. Far too many times to count I wasted a Saturday morning looking at a house that looked fab in the pictures and horrific in reality! Estate agents will take photos from all the good angles; meaning you don’t see that large patch of damp or that awful bathroom suite until you have laid eyes on it in person. It’s frustrating, but you know what? It’s a positive thing, you will be more confident when viewing other properties and get a sense of the home you really want to own!

Now now now – as a Professional Realtor I am NOT trying to deceive anyone with fabulous photos.  It is our job to the seller to present the home in the best light.  However, I am so over virtual tours – honestly – think about it – are you virtually going to live in a home?  NO!  So get up and go see the house in person.  I also think it is imperative for my buying clients to drive themselves to the open house – because sitting in my back seat – some clients do not see the neighborhood and location is just as important – if not more important than the home itself.  

  1. You will know the right house!

Sounds a little cheesy but when you know, you know! I knew the second I walked in; I just got an amazing feeling and it ticked all the boxes. Good area, great transport links and some awesome restaurants and cafés nearby. Of course, you need to make sure everything checks out but definitely trust your gut.

This I whole heartedly agree with.  You know when you found the one – now it’s time to write an amazing offer.  The hard part here in the San Francisco Bay Area is competition.  You may have found the one – and so has someone else.  So it’s important to go in with your best offer.  And it is just as important to get back up on the horse if you don’t get it.  

  1. You will need to be super organized. 

There will be heaps to organize, so grab that planner and start making notes. You will need to arrange viewings, mortgage advice, packing, lawyers and the rest. Start early and chase people regularly for a response; don’t be afraid to get on the phone to get stuff sorted! Be pro-active; the sooner things progress the sooner the keys will be in your hand.

Even though I am the Realtor professional – this is your home, your goals and we need you to be just as organized and on top of emails and calls as we are.  Realtors are not a part of the transaction – we are facilitators and here to help you.  Having your ducks in a row makes the entire process much easier for all of us.  

  1. It’s incredibly stressful.

Purchasing a property is really stressful; I had to get all sorts of reports and then needed to renegotiate the price, so what should have been a straightforward transaction soon dragged out. People can get wound up when there is so much money involved, but stick with it and keep the end goal in sight.

It is a lot to take on board and a major life event, but you know what, it’s totally worth it; that feeling of closing the door behind you knowing you own you own home is hard to beat. Obviously, the responsibility is unreal; the mortgage needs to get paid and if anything goes wrong you can’t just simply turn to your landlord to sort it out, but finally getting on the property ladder will be a total game changer.

I hate to say it but yes buying a home is stressful.  The Caton Team tries their best to make the process as easy as possible – but things pop up and in this highly competitive market – a buyer may be writing offers on a weekly basis until they do get a home.  Hard on the buyer and hard on the Realtor.  But The Caton Team loves what we do and go the extra mile to make this processes as easy as possible.  

If you have any questions about buying a home – please feel free to contact The Caton Team – info@TheCatonTeam.com or call at 650.568.5522 (no text on this line).  THANK YOU!

I read this article at: http://www.careergirldaily.com/5-things-i-learned-buying-house/

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

What does Pre-Qualified and Pre-Approved mean in Real Estate?

As a full time, professional Realtor it is important that I guide my clients as best I can.  Even if it means not showing one single home until a buyer is fully, pre-approved.  I know this sounds very regimented, however in the San Francisco Bay Area Real Estate market – a buyer needs to present their very best if they want to compete.

There’s been a bit of confusion on what it means to be “pre-qualified” versus “pre-approved” by a mortgage lender. To the average Joe – isn’t a phone conversation just as good as a letter?   In one word –  NO!  It’s important to know the difference because it can have a major impact on your real estate transaction.  Here in our market – it is the difference between having your offer presented in its best light – or having your offer outright rejected by the seller.

Here’s what you need to know:

Pre-qualified means the buyer hasn’t yet been vetted by a third-party credit institution.  The underwriter, or he who makes the decision, hasn’t even seen the file.  Because their credit and documents haven’t actually been verified, a letter of pre qualification is the result of a conversation with a lender. Nothing more. That isn’t to say a talk with your mortgage broker about options is a bad thing.  It’s actually a buyers very first step.  It’s just that when it comes to your transaction, it carries little weight.  An offer with a pre-qualified letter will not gain any light in todays competitive market.  No seller needs to grant a buyer time to get their loan pre-approved.  Not when a buyer is one of several offers and the seller will pick the very best, buttoned down one.

That said, a pre-approval letter is truly valuable! In fact in our San Francisco Bay Area Market – a letter of commitment is becoming the new pre-approval letter.  Both the buyer’s credit (and documents) have been verified by a reputable third party and accepted by the lender. Meaning, the underwriter has seen the buyers credit report, reviewed all their supporting documents, called the employer to verify employment and is ready to order an appraisal once the buyer is in contract.  Ideal buyers are pre-approved – and in a hot market like ours, it makes a difference. Sellers want pre-approved buyers. Period.  In fact, The Caton Team will not show property to anyone until they have been pre-approved with a lender.  Our market moves fast, very fast.  Homes are sold within two weeks or less.  And often times, when a buyer finds a home they like, the offer date is usually just days away.  So having the buyer, fully pre-approved puts them in a position of best competition.  They buyers knows the loan they are getting, the payment to expect and are comfortable moving forward at a quick pace.

If you have any questions – we are here to help.  Email or call The Caton Team at any time.  We can answer your questions or refer you to our wonderful team of trusted lenders.  650.568.5522 / Info@TheCatonTeam.com

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

What do Real Estate Agents do? About 184 things to be exact…

184 Things Realtors Do for Their Real Estate Clients (and they don’t even know it)

 

“Why do I need you?”

This is a question many real estate agents dread. But with the rise of real estate technology that puts more market data into the hands of buyers and sellers, more agents have to come up with an answer.

In fact, Adwerx CEO Jed Carlson gave a speech about it.

Pat Vredevoogd-Combs, past president of the National Association of REALTORS® in 2007, testified before the House Financial Services Committee on Housing to blunt government complaints about industry pricing.

As part of her testimony, she submitted a list of 184 things that listing agents do in every real estate transaction.

“By all accounts,” she said, “the general public is not aware of all the services that agents provide to sellers and buyers during the course of the transaction, probably because most of the important services are performed behind the scenes.”

This list has appeared in several places across the web, but it’s such a powerful and comprehensive collection of little-known services, we wanted to capture it and create a version you could use with your own client conversations — helping your sellers understand the critical role you play in their real estate transaction.

Pre-listing activities

  1. Make appointment with seller for listing presentation.
  2. Send a written or e-mail confirmation of appointment and call to confirm.
  3. Review appointment questions.
  4. Research all comparable currently listed properties.
  5. Research sales activity for past 18 months from MLS and public databases.
  6. Research “average days on market” for properties similar in type, price and location.
  7. Download and review property tax roll information.
  8. Prepare “comparable market analysis” (CMA) to establish market value.
  9. Obtain copy of subdivision plat/complex layout.
  10. Research property’s ownership and deed type.
  11. Research property’s public record information for lot size and dimensions.
  12. Verify legal description.
  13. Research property’s land use coding and deed restrictions.
  14. Research property’s current use and zoning.
  15. Verify legal names of owner(s) in county’s public property records.
  16. Prepare listing presentation package with above materials.
  17. Perform exterior “curb appeal assessment” of subject property.
  18. Compile and assemble formal file on property.
  19. Confirm current public schools and explain their impact on market value.
  20. Review listing appointment checklist to ensure completion of all tasks.

Listing appointment presentation

  1. Give seller an overview of current market conditions and projections.
  2. Review agent and company credentials and accomplishments.
  3. Present company’s profile and position or “niche” in the marketplace.
  4. Present CMA results, including comparables, solds, current listings and expireds.
  5. Offer professional pricing strategy based and interpretation of current market conditions.
  6. Discuss goals to market effectively.
  7. Explain market power and benefits of multiple listing service.
  8. Explain market power of Web marketing, IDX, and REALTOR.com.
  9. Explain the work the broker and agent do “behind the scenes” and agent’s availability on weekends.
  10. Explain agent’s role in screening qualified buyers to protect against curiosity seekers.
  11. Present and discuss strategic master marketing plan.
  12. Explain different agency relationships and determine seller’s preference.
  13. Review all clauses in listing contract and obtain seller’s signature.

After listing agreement is signed

  1. Review current title information.
  2. Measure overall and heated square footage – here is California we are not supposed to measure
  3. Measure interior room sizes – here is California we are not supposed to measure
  4. Confirm lot size via owner’s copy of certified survey, if available.
  5. Note any and all unrecorded property lines, agreements, easements.
  6. Obtain house plans, if applicable and available.
  7. Review house plans, make copy.
  8. Order plat map for retention in property’s listing file.
  9. Prepare showing instructions for buyers’ agents and agree on showing time with seller.
  10. Obtain current mortgage loan(s) information: companies and account numbers.
  11. Verify current loan information with lender(s).
  12. Check assumable loan(s) and any special requirements.
  13. Discuss possible buyer financing alternatives and options with seller.
  14. Review current appraisal if available.
  15. Identify Homeowner Association manager is applicable.
  16. Verify Homeowner Association fees with manager–mandatory or optional and current annual fee.
  17. Order copy of Homeowner Association bylaws, if applicable.
  18. Research electricity availability and supplier’s name and phone number.
  19. Calculate average utility usage from last 12 months of bills – here is California we do not do this since it is so subjective to each buyers needs
  20. Research and verify city sewer/septic tank system.
  21. Calculate average water system fees or rates from last 12 months of bills – here is California we can ask for copies of past bills – but usage is subjective.
  22. Or confirm well status, depth and output from Well Report.
  23. Research/verify natural gas availability, supplier’s name and phone number.
  24. Verify security system, term of service and whether owned or leased.
  25. Verify if seller has transferable Termite Bond.
  26. Ascertain need for lead-based paint disclosure.
  1. Prepare detailed list of property amenities and assess market impact.
  2. Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”
  3. Complete list of completed repairs and maintenance items.
  4. Send “Vacancy Checklist” to seller if property is vacant.
  5. Explain benefits of Homeowner Warranty to seller.
  6. Assist sellers with completion and submission of Homeowner Warranty application.
  7. When received, place Homeowner Warranty in property file for conveyance at time of sale.
  8. Have extra key made for lockbox.
  9. Verify if property has rental units involved. And if so:
  10. Make copies of all leases for retention in listing file.
  11. Verify all rents and deposits.
  12. Inform tenants of listing and discuss how showings will be handled.
  13. Arrange for yard sign installation.
  14. Assist seller with completion of Seller’s Disclosure form.
  15. Complete “new listing checklist.”
  16. Review results of Curb Appeal Assessment with seller and suggest improvements for saleability.
  17. Review results of Interior Decor Assessment and suggest changes to shorten time on market.
  18. Load listing time into transaction management software.

Entering property in MLS database

  1. Prepare MLS Profile Sheet–agent is responsible for “quality control” and accuracy of listing data.
  2. Enter property data from Profile Sheet into MLS listing database.
  3. Proofread MLS database listing for accuracy, including property placement in mapping function.
  4. Add property to company’s Active Listings.
  5. Provide seller with signed copies of Listing Agreement and MLS Profile Data Form within 48 hours.
  6. Take more photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography.

Marketing the listing

  1. Create print and Internet ads with seller’s input.
  2. Coordinate showings with owners, tenants and other agents. Return all calls–weekends included.
  3. Install electronic lockbox. Program with agreed-upon showing time windows.
  4. Prepare mailing and contact list.
  5. Generate mail-merge letters to contact list.
  6. Order “Just Listed” labels and reports.
  7. Prepare flyers and feedback forms.
  8. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
  9. Prepare property marketing brochure for seller’s review.
  10. Arrange for printing or copying of supply of marketing brochures or flyers.
  11. Place marketing brochures in all company agent mailboxes.
  12. Upload listing to company and agent Internet sites, if applicable.
  13. Mail “Just Listed” notice to all neighborhood residents.
  14. Advise Network Referral Program of listing.
  15. Provide marketing data to buyers from international relocation networks.
  16. Provide marketing data to buyers coming from referral network.
  17. Provide “Special Feature” cards from marketing, if applicable.
  18. Submit ads to company’s participating Internet real estate sites.
  19. Convey price changes promptly to all Internet groups.
  20. Reprint/supply brochures promptly as needed.
  21. Review and update loan information in MLS as required.
  22. Send feedback e-mails/faxes to buyers’ agents after showings.
  23. Review weekly Market Study.
  24. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
  25. Place regular weekly update calls to seller to discuss marketing and pricing.
  26. Promptly enter price changes in MLS listings database.

The offer and the contract

  1. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
  2. Evaluate offer(s) and prepare “net sheet” on each for owner to compare.
  3. Counsel seller on offers. Explain merits and weakness of each component of each offer.
  4. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
  5. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
  6. Confirm buyer is pre-qualified by calling loan officer.
  7. Obtain pre-qualification letter on buyer from loan officer.
  8. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
  9. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
  10. Fax copies of contract and all addendum to closing attorney or title company – we email now…
  11. When Offer-to-Purchase contract is accepted and signed by seller, deliver to buyer’s agent.
  12. Record and promptly deposit buyer’s money into escrow account.
  13. Disseminate “Under-Contract Showing Restrictions” as seller requests.
  14. Deliver copies of fully signed Offer to Purchase contract to sellers.
  15. Fax/deliver copies of Offer to Purchase contract to selling agent.
  16. Fax copies of Offer to Purchase contract to lender.
  17. Provide copies of signed Offer to Purchase contract for office file.
  18. Advise seller in handling additional offers to purchase submitted between contract and closing.
  19. Change MLS status to “Sale Pending.”
  20. Update transaction management program to show “Sale Pending.”
  21. Review buyer’s credit report results–Advise seller of worst and best case scenarios.
  22. Provide credit report information to seller if property is to be seller-financed.
  23. Assist buyer with obtaining financing and follow up as necessary.
  24. Coordinate with lender on discount points being locked in with dates.
  25. Deliver unrecorded property information to buyer.
  26. Order septic inspection, if applicable.
  27. Receive and review septic system report and access any impact on sale.
  28. Deliver copy of septic system inspection report to lender and buyer.
  29. Deliver well flow test report copies to lender, buyer and listing file.
  30. Verify termite inspection ordered.
  31. Verify mold inspection ordered, if required.

Tracking the loan process

  1. Confirm return of verifications of deposit and buyer’s employment.
  2. Follow loan processing through to the underwriter.
  3. Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale.
  4. Contact lender weekly to ensure processing is on track.
  5. Relay final approval of buyer’s loan application to seller.

Home inspection

  1. Coordinate buyer’s professional home inspection with seller.
  2. Review home inspector’s report.
  3. Enter completion into transaction management tracking software program.
  4. Explain seller’s responsibilities of loan limits and interpret any clauses in the contract.
  5. Ensure seller’s compliance with home inspection clause requirements.
  6. Assist seller with identifying and negotiating with trustworthy contractors for required repairs.
  7. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

The Appraisal

  1. Schedule appraisal.
  2. Provide comparable sales used in market pricing to appraiser.
  3. Follow up on appraisal.
  4. Enter completion into transaction management program.
  5. Assist seller in questioning appraisal report if it seems too low.

Closing preparations and duties

  1. Make sure contract is signed by all parties.
  2. Coordinate closing process with buyer’s agent and lender.
  3. Update closing forms and files.
  4. Ensure all parties have all forms and information needed to close the sale.
  5. Select location for closing.
  6. Confirm closing date and time and notify all parties.
  7. Solve any title problems (boundary disputes, easements, etc.) or in obtaining death certificates.
  8. Work with buyer’s agent in scheduling and conducting buyer’s final walkthrough prior to closing.
  9. Research all tax, HOA, utility and other applicable prorations.
  10. Request final closing figures from closing agent (attorney or title company).
  11. Receive and carefully review closing figures to ensure accuracy.
  12. Forward verified closing figures to buyer’s agent.
  13. Request copy of closing documents from closing agent.
  14. Confirm the buyer and buyer’s agent received title insurance commitment.
  15. Provide “Home Owners Warranty” for availability at closing.
  16. Review all closing documents carefully for errors.
  17. Forward closing documents to absentee seller as requested.
  18. Review documents with closing agent (attorney).
  19. Provide earnest money deposit from escrow account to closing agent.
  20. Coordinate closing with seller’s next purchase, resolving timing issues.
  21. Have a “no surprises” closing so that seller receives a net proceeds check at closing.
  22. Refer sellers to one of the best agents at their destination, if applicable.
  23. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
  24. Close out listing in transaction management program.

Follow-up after closing

  1. Answer questions about filing claims with Homeowner Warranty company, if requested.
  2. Attempt to clarify and resolve any repair conflicts if buyer is dissatisfied.
  3. Respond to any follow-up calls and provide any additional information required from office files.

And that’s just when we Realtors represent the Seller.  I may have to write my own blog on what The Caton Team does when we represent Buyers!  I hope this sheds some light on what we do.  If you have questions – ask me!

I read this article at: http://www.retechnology.com/agent/articles/184-things-you-do-for-real-estate-clients-and-they-don-t-even-know-it?layout=onepage&utm_campaign=top520160522&utm_medium=email&utm_source=newsletter_33651

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Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008