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        <title>The Frankel Ball Realty Blog</title>
        <link>http://www.frankel-realty.com/blog/2020-05/</link>
        <description>The Frankel Ball Realty blog for buyers, sellers and Realtor's. </description>
<item>
    <guid>https://www.frankel-realty.com/blog/think-you-dont-need-an-agent-heres-why-you-do.html</guid>
    <link>https://www.frankel-realty.com/blog/think-you-dont-need-an-agent-heres-why-you-do.html</link>
        <author>lorna@frankel-realty.com (Lorna Rafferty)</author>
        <title>Think You Don’t Need an Agent? Here’s Why You Do</title>
    <description> <![CDATA[ 



It seems that everything is about DIY these days. Fix your own car. Remodel your own kitchen. Organize your own vacation.


You get the picture.


But how about buying or selling a home? Myriad television shows will tell you that it’s okay to do it on your own. So will a plethora of websites that are devoted to helping FSBOs (For Sale By Owner) negotiate the process and that strive to encourage buyers to believe they’ll get a better deal if they skip over the “hiring an agent” part of the process.


Indeed, it sounds tempting when they describe it. Sellers can avoid commission, and buyers will likely have a better chance at negotiating without the middle man…or woman. Right?


Maybe not.


And then there are those mobile apps that can lead you to the perfect house with just the click of a button. You can just make an offer and – ta-da – you’ll have a new home. Right?


Not necessarily.


Real estate transactions are complicated, and many individuals/couples who try to do it on their own wind up getting burned. Licensed real estate agents are indeed essential for buying or selling, and using a hard-working, reliable agent is an excellent way to avoid a catastrophe. Here’s what they’ll do to make the process easier.




They’ll prepare – Long before you head out to your first showings or put the “for sale” sign in front of your house, your agent is hard at work. They’re narrowing down choices for you to see, they’re investigating recent sale prices in your area, and they’re listening to YOU and what you want and need to order to make your buying or selling experience the best possible.


They’ll teach – A good agent wants you to be informed before you start to look for the ideal home or before you list your current property. Therefore, he or she will take the time to carefully explain all the steps involved in either process, offering the information in clear “layman’s” terms that are easy to understand. This way, you’re not going into the process with blinders on, so to speak.


They’ll have your back – Though agents technically represent the seller – unless you’ve hired a “buyer’s agent” – they will still look out for your best interests, whether you’re the buyer or the seller. That’s because they are committed to ethical standards, and they want all parties to be pleased with the deal in the end. So, if something doesn’t seem right or isn’t on the so-called “up-and-up”, they’ll step in and question it and won’t proceed until they are sure no one is being harmed financially or otherwise.


They’ll negotiate – Here’s where many DIYers think they have the upper hand, but that’s usually not the case. Real estate agents know the market and can lead you through offers and counteroffers until a deal is made. They can also help negotiate items such as repairs and can do it without the emotion involved when the request is between the seller and buyer.


They’ll be with you for the long haul – Real estate transactions can go on for months after the initial paperwork is signed. There’s so much to do before you head to the settlement table and, with the help of a realtor and his/her office staff (conveyancers, etc.), all of that will get done on time and correctly. You’re not left on your own to flounder and wonder what needs to be done next. And you’ll be kept in the loop through the whole process




So, if you’re thinking about buying or selling and you’re determined to do it on your own, think about the fact that an agent does a lot more than just drive you from house to house or put pictures of your home on his website. A top-notch agent will literally be with you from start to finish and won’t let go of your hand until you’re satisfied with the outcome. Give one a try



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    <pubDate>Thu, 28 May 2020 12:32:00 -0400</pubDate>
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    <guid>https://www.frankel-realty.com/blog/how-will-the-housing-market-look-post-pandemic.html</guid>
    <link>https://www.frankel-realty.com/blog/how-will-the-housing-market-look-post-pandemic.html</link>
        <author>lorna@frankel-realty.com (Lorna Rafferty)</author>
        <title>How Will the Housing Market Look Post-Pandemic?</title>
    <description> <![CDATA[ 



If you’re a realtor – whether you’ve been one for decades or are just getting your career started – you’re no doubt viewing the reopening of the country and the restart of business with some excitement and a good deal of trepidation. More than ever, more people are out of work, more than half the country is working from home, and the stock market has seen its worst days in recent history. That all combines to mean lots of worry for real estate brokers and agents.


Though it may soon change, right now, agents in most states can’t show houses. The sales offices for new construction are closed. And with the risk of contracting Covid-19, there won’t be any on-site appraisals happening or inspections completed. Everything is pretty much at a standstill.


But what will unfold as states begin to lift restrictions? Can we expect the housing market to rebound and, if so, how long will that take? Will homeowners be listing out of necessity due to loss of income? Will buyers be looking to remove themselves from specific urban centers or other spots that were hard hit by the virus? How about rentals in popular vacation destinations? Will visitors come?


Most experts agree that almost nothing in the U.S. will go back to post-virus “normal,” so the answer to many of these questions will be uncertain for a while. So much has changed in our lives, and those changes will most certainly affect the housing market as well as how realtors do their work. There’s no doubt that this uncertainty, noted a recent article in Forbes Magazine, is “housing’s greatest future risk.”


Big prices, big feelings


Real estate professionals are quick to point out that the housing market can’t likely rebound as would your local pizza parlor or clothing store that’s been shuttered for two or more months. Buying or selling a home involves lots of money, and that money is linked to jobs, investments, and a feeling of confidence on the part of the buyer or seller. Few of us are feeling very confident at this stage of the game.


Buying and selling are also very emotional transactions, and many Americans have been through enough in the last few months that they aren’t eager to take on any additional emotional upheaval. For that reason, many may put off their real estate activity for a while, even during this spring/summer season, when business is usually brisk. It may be a year or more before business truly picks up.


New marketing strategies


How do real estate companies and their agents move forward in such uncertain times, even as they can open and start doing business again? We all know it certainly won’t be “business as usual”.


For example, how do you function as a good, attentive agent while still being a responsible community member? Chances are – even with limited and full reopening of businesses – you may not feel safe parading a family through a showing or welcoming hoards of people into an open house. After all, you now have the added responsibility of keeping your clients safe, at least until there’s more virus testing and a vaccine available.


That means a transition into the digital world of real estate will be essential. Whereas 3-D tours of houses were often reserved for luxury properties, experts say they may become the norm. This will likely mean more money spent on marketing, hiring videographers, and purchasing video equipment, but it’ll be an expense that pays off, realtors nationwide agree.


Nevertheless, it’s the rare buyer who won’t ask to visit their chosen property at some point before making that all-important offer, so you may need to visit. You’ll need to be okay with this or make some other provisions if you’re not. This may involve a huge leap of faith on your part or may even include rethinking your career. It’s a tough call.


Solid, honest pricing


One thing all real estate experts agree on, however, is that this is not the time to be playing around with pricing or speculating on how much you MIGHT be able to get for listings. You – the realtor – need to be honest with your sellers and tell them that this isn’t the time to dicker on a price. They need to list at the right price from the start. They should price ahead of the market and make their price compelling. It’s not the time to drive a hard bargain.


The same goes for buyers. Remind them that this is a difficult time to buy and sell – even if things have reopened and some have returned to work. Please encourage them to make their best offer the first time so that an agreement can be reached promptly and so that emotions remain steady.


Remember, any economic crisis has a long-lasting effect on people, and while this one might not be of the scope of The Great Depression, it’s the first such event that most of us have lived through. As such, it will take time to adjust to every aspect of life, from working and playing to when to buy or sell. And while individuals and families might have a thirst for the normal, it’s going to take a while for most to reach something that resembles their “old” life. Be patient and understanding. Like everything else, this, too, shall pass.



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    <pubDate>Wed, 20 May 2020 12:00:00 -0400</pubDate>
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    <guid>https://www.frankel-realty.com/blog/you-and-your-home-inspection.html</guid>
    <link>https://www.frankel-realty.com/blog/you-and-your-home-inspection.html</link>
        <author>lorna@frankel-realty.com (Lorna Rafferty)</author>
        <title>You and Your Home Inspection</title>
    <description> <![CDATA[ 



Buying a home is a scary proposition. Indeed, it is Unless you’re buying a brand new home or having it built to your specifications, you’re never sure what you’re getting and – of course – what you see isn’t necessarily what you get. There are plenty of problems that aren’t necessarily visible to the eye, so you either take a leap of faith and hope for the best, or you schedule a home inspection.


If you’re working with a realtor, perhaps you’ve already discussed the pros (and maybe the cons) of purchasing a home inspection. Generally, realtors agree that in many cases, such inspections are a wise idea and, in some cases, an absolute must.


Below we’ve provided our readers with some important facts about the process to help you decide what’s best for you.


A home inspection doesn’t happen automatically


An agreement of sale doesn’t include a home inspection unless you put that request in writing. You must ask your realtor – or whoever is writing the agreement – to include a home inspection clause, which will give you an out if there are severe problems with the house or extensive repairs that need to be done. It doesn’t necessarily mean that if there are problems that you’ll back out. You can, instead, negotiate with the seller for different terms. (i.e., a lower price or some other sort of concession, having the seller make the repairs) As such, an inspection becomes a bargaining tool to protect you, the buyer.


What are the particulars of a home inspection? 


A home inspector is a licensed, bonded, and insured individual who will inspect the systems and structure of the home you wish to buy. Often, the inspector is recommended by your realtor, but you are certainly welcome to choose any inspector you want to. Just make sure that they are properly certified and ask for references from others who have used them in the past.


*Note that some states don’t require licensing, so be extra careful if this is the case in your state and make sure you do plenty of research about the person you are considering hiring before you do so.


Some of what this professional will inspect will depend on the local and municipal codes in your area, but basic inspections include a look at the following:




Roof


Foundation/framing


Fireplaces


Plumbing systems


Electrical systems


HVAC (heating and cooling) systems


Interiors (doors, paint, floorings, ceilings, walls, windows, etc.)


Exteriors (siding, windows, doors, etc.)


Insulation/ventilation


Septic systems (if applicable)


Wells (if applicable)




Your inspector may also test for radon inside the home (though that’s sometimes a separate inspector) and may look for the presence of toxins such as asbestos, lead paint, or mold.


May I be present during the inspection? 


Absolutely You should be there, even if the inspector tells you he/she doesn’t want you there. It is your RIGHT to be present. If you absolutely can’t be there, your agent could represent you if he or she is willing.


It’s important to remember that these can take several hours, especially for the inspection of a large house, so plan accordingly. You may have to take a day off work or secure some childcare on the day of the inspection as you never know how long it’ll take, especially if concerns arise.


And if concerns do arise and you’re there, you can see firsthand what the problem is, and the inspector can speak to you right there and then about the issue(s) and any potential solutions.


Even if there are no negatives, it’s still a wise idea to be there as the inspector can impart some knowledge to you about the home, its structure, its systems, and how to best care for it. Such a discussion can better prepare you for home-ownership.


What if my house “fails”? 


An inspection is an evaluation, so the word “fail” – though many use it – is really a misnomer. By the end of the inspection, when the inspector writes his report, you’ll have a clear understanding of what needs to be addressed. If it’s nothing major, your agreement of sale may remain intact just the way it was submitted. If there are serious problems, this is the time for you either to change your mind or to come to a fair agreement with the seller about who will handle which repairs.


Remember, an inspection doesn’t have to be a deal killer. It will simply help you to seriously consider what you are willing to do and what expenses you are willing to accept in order to get your “perfect” house.



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    <pubDate>Wed, 13 May 2020 12:28:00 -0400</pubDate>
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    <guid>https://www.frankel-realty.com/blog/youre-selling-your-house-but-so-is-your-neighbor.html</guid>
    <link>https://www.frankel-realty.com/blog/youre-selling-your-house-but-so-is-your-neighbor.html</link>
        <author>lorna@frankel-realty.com (Lorna Rafferty)</author>
        <title>You’re Selling Your House, But So is Your Neighbor</title>
    <description> <![CDATA[ 



You’ve done your research. You found a realtor you love. It seems like the right time for you and your family to make a move. So, you’ve signed that listing contract, and the sign has gone up in the front yard. It’s time to sell 


But wait What’s that in your next-door neighbor’s yard this morning? Is that a For Sale sign? Can’t be How dare they They can’t sell their house at the same time you’re selling yours. It’s just not fair Can they do that?


Of course, they can There are certainly no hard and steadfast rules about two homes beside or near each other going up for sale at the same time. As a matter of fact, it may be all your fault Perhaps your sale sign prompted your neighbor to take the action they’ve been contemplating, and so they decided to take the proverbial plunge, too.


In fact, this scenario might be more common than you imagine, especially in an area that’s quite transient or one that’s enjoying a great seller’s market. Or perhaps your neighbor simply thinks you have “insider” knowledge about the market and figures that maybe – since you listed your home - that it’s the right time to sell.


But how is this going to affect you and your sale? Or will it?


Playing off one another


Sometimes, neighbors decide to list their home for sale after seeing another house on their street go on the market because they want to piggyback on the marketing efforts of the first person who put their house up for sale. That sounds rather unfair, doesn’t it? Your agent is doing all the work, yet your neighbor is benefiting from his or her marketing prowess.


The truth is, however, that unless your neighbor is a FSBO (For Sale by Owner), you can both play off each other’s advertising. Very often, when a potential buyer decides to look at YOUR home or THEIR home, they will likely choose to look at both. That could as easily work in your favor as in theirs, especially if your home is more in tune with what the buyer seeks.


You might even go so far as to suggest a joint open house. It sounds strange, but it will likely bring more buyers to your street, and, again, both of you may benefit from this cooperation. Ask your realtor what they think about that idea and if he thinks it may work, have him contact the listing agent for the neighbor’s home.


Taking the advantage


Most realtors would agree that it doesn’t matter how many homes are for sale on your street or how much like yours (or unlike yours) each might be. The truth is that every home is different, and so is every buyer. A certain buyer may not be looking for something like your house but may love your neighbor’s home…or vice versa. One never knows.


However, if you want to have the upper hand, it all comes down to one thing. Your home must be priced, right If you’re gung-ho to outsell your neighbor, then start by choosing the right price at the beginning of your listing, guided by your realtor, who – in turn - is being guided by current comps from recent sales of homes like yours, as well as current listings.


In addition, prepare your home for selling by making it as attractive as possible. Spruce up dingy paint, do a quick bathroom makeover, plant a garden, etc. Do whatever it takes to make your place a home that buyers want to see more than once.


Also, make your home easy to view. Don’t be the seller that limits days and times for showings. You’ll want as many buyers as possible to go through your home, and you may just have to be open to some last-minute showings. For example, if a buyer has an appointment to see your neighbor’s house and sees your sign while there, they may ask to see your home, too. Be open to that possibility and keep your home looking showing-ready at all times. 


Remember, if you do all the right things, follow the advice of your realtor, and remain an open and cooperative seller, the fact that your neighbor or neighbors are selling too should make no difference as to the price you receive for your house and the amount of time it takes to sell. Proceed with confidence, and don’t be intimidated



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    <pubDate>Thu, 07 May 2020 09:48:00 -0400</pubDate>
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