How is a real estate transaction like a football game?

How is a real estate transaction like a football game?

Who is ready for some football? Football season is upon us and for some this is an exciting time of year!  For many, football season means cheering for your favorite team, enjoying the game with friends & family, good food, cooler weather and even attending a live game.  The real estate transaction can be a lot like a football game.  Successful real estate transactions, like football games, are the product of many players, coaches and other people behind the scenes that play a role in their team’s success.

Team:

In football, there are 2 opposing teams on each side of the field, and on the sidelines are the coaches.  In real estate, you have the Buyer team and the Seller team.  On the sidelines are the Coaches – the Real Estate Agents.

Real Estate Agent/Coach:

Like many other professions, successful agents in the game are extremely competitive.  Even the opposing “Coaches” have the same mission but may employ different methods.  The Real Estate Agent/Coach will instruct and motivate their players throughout the game.

Huddle up:

This is what the Real Estate Agent does with their clients during negotiations when figuring out what to offer or counter offer on a home.

Fumble: 

A Real  Estate Agent will make sure not to “fumble the ball” during the transaction and keep their head in the game on all of the contractual deadlines.

Tackle:

This is what a professional Real Estate Agent does if unexpected situations should arise like appraisal shortages, home inspection conflicts, repair requests or closing delays.

The other team: 

This is the Real Estate Agent and his or her Clients on the other side of the field.  Just like in football, it is important to play nice and show professionalism throughout the game.

The quarterback: 

In football, the QB is not only a key decision maker but has the ability to make timely plays and efficiently manages impromptu adjustments.  They have a big responsibility and directly impacts the outcome of each play.  In real estate, the Mortgage Lender is the QB- and the MVP of every successful transaction.

Referee:  

The Title Company “calls the plays” and makes sure all the facets of the transfer of ownership for both teams is done contractually and legally, that way everyone can make a touchdown at the closing table.

End-Zone Celebration: 

What you do when you close your transaction!

Fans:

These are the buyers and sellers. The goal is of any real estate professional is to turn each client into a raving fan that will continue to support their business with referrals of their friends and family.

If you are looking to have a professional team on your side for your real estate needs, contact the Stacey Feltman Group Today!

 

 

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Want to buy a house in 2018? Here are 6 Steps to take now!

Want to buy a house in 2018?  Here are 6 Steps to take now!

Many of us make New Year’s resolutions from dieting, exercising, traveling, etc.  If one of your resolutions is to purchase that dream home in 2018, here are some helpful steps you can take to make that dream a reality.

Check your credit score.

FICO scores range from 300-850.  If your score is above 740, typically you will get a better interest rate on a loan.  This lower rate could mean saving thousands of dollars per year.  If your credit falls a little short you should look into repairing it.  You can start by correcting any errors and paying bills on time.  It is wise to use 30 percent or less of your total available credit.

Don’t open new credit cards.

Opening new lines of credit could hurt your chances of getting a mortgage or getting the best rate.  As tempting as it may be to save 20 percent of your purchase that one time at a store, it is not worth it in the long run.

Interview real estate agents.

You may ask for referrals from your family and friends, but what is most important is to shop around to find the agent that is the perfect fit for you.  Make sure the agent is a good communicator, knowledgeable and experienced.

Keep tabs on interest rates.

Not everyone gets the same interest rate on a mortgage loan.  This depends on your finances and lender you choose.  It is best to shop around for the lowest rates.

Find a mortgage lender & get pre-approved.

Before you even start looking for a home, look for a mortgage lender to find out how much home you can afford or if you are in the position to purchase a home at that time.  Most lenders will tell you some things that you could do to get there faster.  Most real estate agents require pre-approval letters before setting up house hunting trips.

 

If you are interested in purchasing a new home this year, the Stacey Feltman group can help.  We are have the experience, knowledge and negotiation skills to help make your REALTY DREAMS A REALITY!

Contact us at 214-356-8368

 

 

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“Make Your Realty Dreams a Reality”

"Make Your Realty Dreams a Reality"

Just recently the news reported on the lack of affordable homes in the DFW area. DFW used to be known for the relatively low cost of housing compared to other similar sized markets. Dallas remains among the top 3 markets in the country in regards to highest year to year gains. Some say we are reaching a limit or ceiling if you will. Experts label affordable homes with those priced $200,000 and below. Over the past few years there are fewer and fewer homes that are available for that price point in DFW and its many suburbs. Many have to broaden their search to outside cities like Kaufman, Fate and Greenville where there are still at a good value.

So what can you do if you are a buyer looking for “affordable housing” but do not want to move too far out of the reach of DFW? Answer is you need to be more “attractive” to the sellers of those homes that do pop up on the market and here is how…

1. Become pre-qualified with a lender.
2. Make sure you have a real estate professional by your side. .
3. Move quickly once you find the house you want.
4. Write a personal letter to the sellers to let them know how much you love their home and how you will continue to love it the way they did.
5. Start with the best offer. You may only get one chance to make an offer and will need to go in at your highest and best.
6. Be realistic about the inspection and repairs.
7. Make a bigger earnest money deposit.
8. Make back-up offers if you don’t get it the first time.
9. Consider waiving or shortening contingencies.

The Stacey Feltman Group can help you with your home buying needs. Call us today at (214) 356-8368. Our group has the experience, knowledge and drive you help you make your realty dreams a reality!

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Honesty is the Best Policy! Pick the right Realtor when Selling Your Home!

trust

Selling your home is a business transaction plain and simple and more often than not sellers can make emotional and impulsive decisions that will end up wasting their time and money. It is imperative that you interview and pick the right agent that will help you achieve your goal of selling your home.

Here are some of the mistakes sellers make when choosing a Realtor:

Choosing a Realtor without interviewing others.
Selling is a big task and can put a lot of stress and worry on a homeowner. But, you have to think when you are looking for services in other professions such as lawyers, doctors, contractors, etc. do you shop around? You should do the same when picking a Realtor. It is easy to get caught up in the moment of a wonderful presentation, but making an impulse decision and learning later that it is not going to work out can cost you time and money with wasted days on the market or not getting it listed when you wanted it to. What do you do? Interview at least 3 agents and ask them all the same questions and see who will not only fit your needs but whose personality will fit yours as well. Ask yourself, “ is this the person I want to go through this process with?”

Choosing a Realtor strictly based on their agreement with your selling price.
Beware! Some agents tell you only what they want you to hear. You will find some agents that
are more interested in themselves than they are with you. Generally, sellers often have a list price that they want to stick to as it only makes sense to their bottom line and what proceeds they want to get from the sale. OR, sellers google online other homes in their area that are listed for a certain amount and compare their house getting a price that may be way off. We are all guilty of thinking we have figured something out based on what we see online but it takes a true expert to get down to the reality of it and make a correct assessment based on actual data from the MLS system that only Realtors have access to. Let an expert agent properly price your home at what the market will bear to get it sold. They will show you data in the form of comps to support the list price. Again, beware of the agent that over prices your home as they know they will win your business so expect to be disappointed later when they ask you to price reduce causing added days on the market which produces red flags for buyers. Buyer will think “what is wrong with this property?”

This agent offers the lowest commission.
You get what you pay for, cut and dry. This “discount” agent will put a sign in your yard and list your house in the MLS but little additional effort will be made. Agents use their own funds to market your property and can cost them $300 for professional photos, $100 on printing, pay other websites to market the property, hold open houses with food/drinks, just listed postcards can be anywhere from $100-$500 depending on the community. And, not to mention the agent’s time spent having phone conversations with other agents asking if they have clients interested and receiving calls off the sign in the front yard. Think about what your time is worth and how would you want to be compensated. If an agent reduces the commission, you will not get the extra marketing or superior service.

This agent has sold lots of homes, they must be the best!
Think to yourself, do you want an agent that had a bunch of listings and only sold a small portion of them or do you want one that has sold all/majority of their listings? Say an agent listed 40 homes last year and only actually sold 30, what happened to the other 10 or the agent that only listed 20 but sold 19. How many of those listings were reduced? How many days on the market? Quantity is important but only if quality was present.

I am going to pick the large Real Estate Team!
Yes, most real estate teams are successful or they would not be a team. But, you must decipher through as not all teams are created equal. Teams come in all shapes and sizes but it’s not size but the service you receive that matters. Ask the big team agent how accessible they will be throughout the process. As once you sign with them, you may never hear from them again but only from their assistant or support staff. You better bet they will be at closing to collect their check. It is very normal for a large team to have a support staff to ensure that you have as much communication as possible and you can always contact someone. The support staff is just that, to support. The agent should be the main communicator helping you along through the process.

There are so many more things sellers should do and be aware of when picking a Realtor, but these are some of the biggest. We believe that honesty is the best policy. Hope this was helpful and that you call the Stacey Feltman Team for all your real estate needs. Our clients are our number one priority!

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How Much GOLD is Your Home Worth?

how much gold is your home worth

You don’t need the Luck of the Irish to sell your home, let the Stacey Feltman Group get you more GOLD for your home today! In Frisco, TX home prices are on the rise so now is the time to sell if you would like more money in your pocket.

It’s a seller’s market so choosing the right Realtor when selling your home can make the difference between getting the price you want and in fewer days on the market – or ending up disappointed.

It’s just not a For Sale sign in your yard. Our group has the experience to help you achieve your goals in real estate, as we are committed to the highest level of service day or night! Our personal commitment is professionalism, personal attention to YOU and every detail, enthusiasm and expertise to ensure a stress-free successful transaction. Stacey Feltman Group’s tagline is straightforward and uncomplicated – Making REALTY dreams a REALITY! The Stacey Feltman Group looks forward to serving all your real estate needs.

Click Here for a Free Home Evaluation!

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Discount Brokers-What You Should Know!

discount-600x351

Have you ever heard of the sayings, “it’s too good to be true” or “you get what you pay for”? Well, this is mostly the case when you consider hiring a discount broker to sell or buy a home. What are Discount Brokers? They are brokers that offer a reduced commission to sell your home, offer fee-for-service, or buyer rebates to their clients. Full service brokers are the most recognizable names such as Ebby Halliday Realtors. Full service brokers typically charge a commission with no additional fees. The commission usually covers many different forms of advertising and promotion, listing in the MLS, personalized marketing plans that are designed to gain maximum exposure for listing as well as being a partner through the transaction process and acting as an expert negotiator.

If you are still considering hiring a discount broker, here are some things that you need to consider..

Buyer Rebates:
If the agent from one of these discount brokers is offering you a rebate it means that they are giving you a portion of their commission to use towards closing costs. As a buyer, you will be asked to fill out an IRS 1099-misc form for any money received and will be responsible for any taxes that may incur. Depending on your tax bracket, you could end up paying 20%-38% to the government. You can end up losing the money you saved. These buyer rebates are not always approved by the lender and if you are doing an FHA, VA or HUD loan you will not get the refund. During the buying process, agents can spend a lot of time with a buyer looking at many homes. If the agent is cutting their salary to give you a rebate, they may not give you the full service that other brokers will give. You will probably want a highly responsive agent that will answer your phone calls compared to one that is overloaded with clients. Discount brokers offer rebates to bring in large volumes focusing not on quality but on quantity alone.

Sellers:
Many discount brokers will offer to sell your home for less, but in the long run it may cost you more money. Flat-fee services are a la carte, meaning anything extra beyond the package will cost you extra. You will also still be responsible for the buyer’s agent’s commission which usually runs 3%. Your flat fee more than likely only include a sign, a lock box and listing in the MLS. Are you willing to take it from there? Will you be home and available for all showings? Are you familiar with the many different forms of the real estate contracts? Are you an expert negotiators and knowledgeable with real estate transactions? More than likely your answer is no. This is where your full service brokers will come in. They are there throughout the entire transaction from Listing to the closing table. It is their fiduciary duty to you to provide you with full services. According to many studies, sellers usually come out of pocket more using discount brokers. Many things offered by discount brokers are negotiable anyway so you need an expert on your side!

If you are interested in selling your home, contact the Stacey Feltman Group with Ebby Halliday Realtors today!

Staceyfeltman@ebby.com
214-356-8368

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Selling Your Home? Call a Real Estate Professional!

real estate professional

We know that when homeowners in Frisco, TX and surrounding areas decide to sell their home, they obviously want the best possible price and the least amount of hassle. Their most important goal is to actually get the home sold.

For these three goals to be accomplished, a seller should realize how important it is to use a real estate professional. Technology has changed the buyer’s behavior during the home buying process and the majority of buyers have used the internet to search for homes. However, these buyers have still used a Realtor when actually purchasing a home. Only a small percentage purchased directly from a seller whom they did not know.

Buyers search for homes online but still depend on the agent to find the actual home they will buy, negotiate the terms of the sale and price or understand the process.
The wealth of information now available has increased the percentage of buyers that reach out to Realtors to help them connect the dots.

Bottom line is, if you are thinking about selling your home, don’t underestimate the role a Realtor can play in the process. They have your best interest at heart and can market your home to sell it fast. The laws are constantly changing and you can depend on your Realtor to walk you through the process without getting overwhelmed.

Sellers and Buyers, think about this…. There are so many aspects of a real estate contract that are negotiable from repairs, who is paying for title insurance, closing costs, and lots more. Don’t you want to make sure that you are not getting the bad end of a deal? Realtors are there to help!

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