The House Hunting Checklist

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Keep your buyer clients organized while shopping for properties by using The RE/MAX Gold House Hunting Checklist.

This helpful checklist makes it easy for your clients to keep track and make notes about their thoughts on potential homes. With questions regarding both the home and neighborhood, The House Hunting Checklist is a great way to note why the property will or won’t work.

We recommend printing a few copies before the house hunting trip takes place. Prior to visiting a property, write the address and MLS information down for your clients. Once you arrive, share The House Hunting Checklist with your buyers and tell them to have fun! Don’t forget a clip board and a pen!

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Click to Download PDF

Let’s Talk Real Estate – Terminology For The Consumer

In the middle of a discussion with a client, have you ever said a term that is common within the industry and could immediately tell that your clients thought, “Huh”?

Regardless if your clients are first time home buyers or seasoned movers, it’s likely they will ask you to clarify a term once or twice throughout the transaction.

Be proactive by downloading and sharing this document with them which highlights the most commonly used, client facing real estate terms from A-Z. Your clients will appreciate the effort and you will be able to speak freely about all things real estate!

Real Estate Terminology  

  • Adjustable Rate Mortgage (ARM) — The interest rate is tied to a financial index making themonthly mortgage payment go up or down over time
  • Annual Percentage Rate (APR) — The percent of interest that will be charged on a homeloan.
  • Appraisal — A report highlighting the estimated value of the property completed by a quali-fied 3rd party. This is typically done for the benefit of the buyer to ensure the property isworth what they are paying.
  • Association Fee/HOA Fee — In addition to a mortgage, certain housing communities such astownhomes have a monthly fee associated with maintaining the common areas and ameni-ties.
  • Balloon Mortgage — A long-term mortgage loan that starts small but has a large paymentdue at maturity.
  • Closing — This is the final meeting where the buyer and seller sign the necessary paper-work, complete the transaction, and release/take possession of the property. Usually therepresenting agents and attorneys attend.
  • Closing Costs — The buyer and seller have expenses associated with the transaction otherthan that of the actual cost of the home. For example, the buyer has a variety of fees duefor obtaining a new loan and the seller must pay commission to both agents.
  • Closing Disclosure — A form that provides the final details about the mortgage loan. It in-cludes loan terms, projected monthly payments, and how much the extra fees will be.
  • Collateral — Something of value (in this case your home) that is held to ensure repaymentof a mortgage or loan.
  • Commission — A percent of the sale price of the home that is paid to agents. The seller payscommission to both the buyer and listing agent.
  • Comparables — Homes in the area of interest that have recently sold that have similar fea-tures.
  • Contingencies — Conditions which must be met in order to close. Contingencies are typicallytied to a date, referred to as a deadline. If the contingency is not satisfied the contract maybe canceled.
  • Counteroffer — The response from the seller in regard to an offer.
  • Debt to Income Ratio — A lender will look at a borrowers debt versus income to determinethe amount of loan they are eligible for and if they can repay their debt plus the home loan.
  • Down payment — A percent of the cost of the property that is paid up front as a part of themortgage.
  • Earnest Money — The deposit made from the buyer to the seller when submitting an offer.This deposit is typically held in trust by a third party. Upon closing the money will generallybe applied to the down payment or closing cost.
  • Escrow — This term has multiple meanings; earnest money is typical held by a third partyuntil closing in “escrow”. It can also be referred to as the time period from when the con-tract is written and accepted by the seller to when the home sale actually closes.
  • Equity — The difference in the market value of a home versus what is owed on the home.
  • FHA — A mortgage that is financed through a private lender and insured by the FederalHousing Administration, often requiring a lower down payment and income to qualify.
  • Fixed Rate — The interest rate will remain the same for the entire life of the mortgage.
  • Home Equity Line of Credit — A loan or line of credit that is determined based on the equityor homes value after subtracting the loans owed.
  • Home Inspection — The process in which a professional inspects the seller’s home for issuesthat are not openly apparent, then creates a report for the buyer to review.
  • Home Protection Plan — An annual service that covers the cost of repairs or replacementsto items covered in the plan; items like stoves, washer/dryers, etc.
  • Hybrid — A loan that starts with a fixed rate period, then converts to an adjustable rate.
  • Mortgage Insurance — Insurance written in connection with a mortgage loan that protectsthe lender in the event the borrower cannot repay their loan. This is usually not required ifthe borrower has 20% or more for the down payment.
  • Mortgage Note — A promise to pay a sum of money at a standard interest rate during a spe-cific term that is secured by a mortgage
  • Multiple Listing Service (MLS) — The national list of real estate properties that are availablefor sale. These are the most reliable sources to receive up-to-date listing information.
  • Pre-Approval — The process in which a buyer must provide a mortgage professional the ap-propriate information on income, debts, and assets that will be used to make the initialcredit only loan decision.
  • Pre-Qualification — Once approved for a loan, this is the process in which the maximum saleprice, loan amount, and month payments are calculated for the borrow. This not a loan ap-proval however, it useful to know prior to searching for a home.
  • Principal — The underlying amount of the loan which is actually borrowed.
  • Property Taxes — These are the taxes that are enforced by the city, town, county, and stategovernment entities. These taxes are included in the total monthly mortgage payment andare held in escrow by the lender.
  • REO — Real estate owned properties or foreclosed properties currently owned by a financialinstitution such as the bank that made the loan to the previous owner
  • Reverse Mortgage — This is specifically for seniors and it allows them to convert the equityin their home to cash.
  • Short Sale — A situation when the seller’s lender is willing to accept an offer and allows thesale to be completed for an amount less than the mortgage amount owed by the seller.
  • Title — A legal document proving current and proper ownership of the property. Also re-ferred to as a Title Deed, this document highlights the history of property ownership andtransfers.
  • Underwriting — The process in which the potential home buyer is evaluated for their finan-cial ability to obtain and repay a loan. This normally consist of a credit check and appraisalof the property.
  • VA Loan — Loans that are given to Americans who have served in the armed forces. Theyare administered by the Department of Veteran Affairs.

Click to download a printable PDF version

How To Effectively Use Social Media Grow your Sphere and Build Referrals

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From time to time I get asked about all the various platforms agents can conduct business on and build their sphere. Social Media has quickly become “A Must Use” in real estate if agents are to remain successful and wish to grow their business. The challenge is where to start? which platforms should you use? How often should you post, share, comment, like, wink, send, receive, upload, pass, create, play, email etc… The list is endless when it comes to the many different ways you can engage. The key word here is “Engage”!

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Remember, as I have said in previous MEC events. Using Social Media as a way to mine for engagement is the key to success. Finding ways on social platforms to engage is how you should be using social media at all times. It’s important you balance work and play. Sharing your personal information is far more engaging than sharing your work related stuff. Your sphere is more excited about the day your having with friends, sharing food, playing a game, visiting a city etc.,  than they are about your new listing. Go with the 75/25 Rule. 75% of everything you post should be about you, your life, the things you enjoy, your hobbies, special interests, etc. Mix in inspiring quotes, funny posts, a cat or two and BAM! You are going to find people liking your posts over and over. (I am kidding about the alltwitter-social-media-signpost cat or two part). 25% should be about your business. Do not post things like “Just listed, 4 bedroom, 2 bath home in the Roaring Springs subdivision, if you know of someone interested in buying call me” This is boring and will illicit ZERO engagement. Instead post things like ” New listing, Roaring Springs, you have to see this kitchen.. Simply amazing. (Then attach a spectacular photo of the kitchen and link it to the homes single page website). Now you have a strong call to action that will not only find a buyer, but get you noticed since more people are interested in seeing this “Amazing Kitchen” than just buyers looking for homes. Those in your sphere that are not in the market will still click the link and want to see what it is you are so excited about. This drives traffic and when you print your analytical report for the home owners you look like a ROCK STAR!

Finding Ways To Engage: What you should be spending most of your time on Social Media doing is looking for ways to build relationships and get referrals.  You do this by scanning your wall for reasons to reach out to your sphere. Let’s say Janice is in your sphere and you sold her and John a house three years ago. It’s Saturday and Janice just posted a picture of her daughter Alyssa kicking in a field goal for her soccer team. Janice is excited and posts the picture to Facebook with the description “Woot, woot, Alyssa’s first field goal for her soccer team… Go Alyssa” You see this post and like most in Social-Media-EngagementJanice’s sphere you like it, you might even be savvy enough to comment on the post.  However, the real ROCK STAR Agent goes one step further. You pull out a note card, you write a hand written message that reads “Congrats on your first field goal Alyssa, we at RE/MAX are all super proud of your accomplishments” The  you mail it to Janice and Alyssa. Now who do you think Janice cares more, those who liked an commented or the one person who just took time to recognize a special moment in her life? This is what I talk about all the time. You have to spend time finding ways to connect, not just like, share or comment but a reason to send a note, pop by, Buffini them!

Now that we have the basics out of the way, let’s talk Best Practices. Below is a one sheet you can use as a reference tool for setting up any social media platform as well as a mini guide an how to best use the particular social platform for success. If you have suggestion bring them on. Leave them in the comments box below and happy mining…

Social One Sheets. Right Click and save or print.

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youtube

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Instagram

Here’s a special one-sheet on Best Practices when it comes to posting.

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RE/MAX Gold Listings Presentations

 Here you will find the most recent RE/MAX Gold listing presentations. Please note there are Powerpoint versions and PDF printable version. In order to edit these templated designs you will need to have Powerpoint installed on your computer and a basic understanding of how to use the program.

Download Powerpoint Viewer

Buy Powerpoint Here

2017 Listing Presentation Powerpoint Version

2017 Listing Presentation PDF Version Printable 8.5 x 11

Alternate Listings Presentation Powerpoint

Alternate Listing Presentation PDF Printable 8.5 x 11

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2016 Listings Presentation

Slides from Business Growth and Development Presentation MEC Events

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This is the Powerpoint presentation used for the regional MEC Events for Business Growth and Planning. Please note you will need to have Powerpoint Viewer installed to view this presentation. Simply click the image above to start the download.

New Listing Agreement From C.A.R.

CAR-LogoNew Listing Agreement From C.A.R. Coming This
Month:
The California
Association of Realtors is so concerned about potential seller blowback and
agent liability from the controversial practice of “pocket listings”
that the agent organization is hurrying the release of new forms to
address the issue. A pocket listing intentionally excludes a property from
broad exposure through the multiple listing service allowing the listing agent
time to sell the property himself, or offer the property for cooperative sale
exclusively to a small group of fellow agents in what is sometimes called a
“listing club” – A practice that may benefit the agents, but
frequently not the seller. Here is the draft versionContract
of the new Residential Listing Agreement (RLA); the relevant additions are
in a block section on page 2 requiring seller and agent initials. And here
is a ‘quick summary’ of the full Summer 2013
Forms Release
.