Doug Radford, Regional Developer, Realty Executives New Jersey Region

When it comes to selling your home, hiring the right Realtor® can make all the difference in achieving a successful and stress-free sale. A good Realtor® can provide you with valuable guidance, support, and expertise throughout the entire process. However, not all Realtors® are created equal, and it's essential to ask the right questions before hiring one. In this blog, I’ll discuss the most important questions that every home seller should ask their Realtor® to ensure they are making an informed decision and getting the best possible representation.

Here are a few questions that a home seller should ask before hiring a Realtor®:

What experience do you have in the real estate industry?
It is essential to know the level of experience a Realtor® has in the industry to ensure that they are qualified to handle the sale of your home. Ask how long they have been in the industry, how many homes they have sold locally, and their success rate in closing deals.

What is your marketing strategy for selling my home?
A good Realtor® should have a solid marketing plan that will help your home stand out in the market. Ask about their approach to advertising and how they plan to market your property to potential buyers. This should include things like online listings, professional photography, open houses, and social media campaigns. And do you have a marketing support team to design and properly place the ads.

Who will be handling the inquiries that come in on my home?
With the right marketing plan, buyers will be inquiring about your home. You want to be sure that the brokerage your Realtor® works for gives all online and call in inquiries directly to your listing agent. Many companies give all inquiries to brand new licensees who do not have the experience to properly sell your home. Noone knows your home better and has more motivation to get your home sold than your listing agent.

What is your commission rate?
Realtors typically earn a commission of 5-6% on the sale of a home, so it's important to know how much you'll be paying before you sign any agreements. Ask about their commission rate and if there are any additional fees you should be aware of. Remember that the best Realtors® will get you the highest and best price for your home. If they can’t negotiate a fair commission for themselves, they probably won’t be a good negotiator for you.

How will you communicate with me throughout the process?
Selling a home can be a complicated and stressful process, so it's important to have a Realtor® who will keep you informed and up-to-date throughout the process. Ask about their communication style and how often they will provide updates on the status of your sale. If you call your Realtor® and they do not pick up or their voicemail is full, this could be an indication of things to come.

Can you provide references from past clients?
Finally, it's important to get feedback from past clients to help you make an informed decision. Ask for references from previous clients and contact them to learn about their experience working with the Realtor®. This will give you valuable insights into their professionalism, communication skills, and success in selling homes.

In conclusion, selling your home is a significant transaction that requires careful consideration and attention to detail. Choosing the right Realtor® can make all the difference in achieving a successful sale and maximizing your return on investment. By asking these five key questions, you can gain a better understanding of a Realtor's qualifications, experience, and approach to selling homes. Ultimately, the right Realtor® will work tirelessly to ensure that you get the best possible outcome and have a positive selling experience

If you’re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today’s shifting market?

The truth is, getting a pre-approval letter from your lender is critical, and when it comes to your home search, it can be a game changer in so many ways.

To better understand why, it’s important to know what pre-approval is. Freddie Mac defines the process like this:

“A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. The lender you work with will provide you with a pre-approval letter, which is an official document that states the maximum amount they are willing to lend you, . . .”

Put simply, pre-approval from a lender helps you understand your true price range and how much money you can borrow for your loan. That can make it easier when you set out to search for homes. And since you’ll know what you’re approved for, it’ll also help once it’s time to submit an offer on the home of your dreams.

Another added benefit is that pre-approval lets the seller know you’re qualified to buy their house. Paul Centopani, Editor for the Mortgage Reports, explains:

“. . . most sellers won’t even consider an offer unless the buyer is pre-approved at the right price point. Sellers and their agents want to know you’re ready and able to finance your offer amount. So you’ll want to have your preapproval teed up as soon as you’re serious about bidding on a home you like.”

Every advantage you can gain as a buyer is crucial in a market that’s constantly changing. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals, such as a real estate advisor and trusted lender, on your side. They’ll help make sure you’re ready to put your best foot forward.

Bottom Line
Getting pre-approved for a mortgage helps you better understand what you can borrow and shows sellers you’re serious about purchasing their home. Connect with a local real estate professional so you have the tools you need to succeed as a homebuyer in today’s shifting market.

Keeping Current Matters

KEEPING CURRENT MATTERS - Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation have already retired.

If this sounds like you, one thing worth considering is whether or not your current home will suit your new lifestyle. If your home doesn’t have the features or benefits you’re looking for, the good news is, you may be in a better position to move than you realize.

That’s because, if you already own a home, you’ve likely built-up significant equity, and that can help you fuel your next move. According to the National Association of Realtors (NAR):

“A homeowner who purchased a typical home five years ago would have gained $125,300 from just price appreciation alone.”

In fact, over the last twelve months, CoreLogic reports the average homeowner in the United States gained roughly $64,000 in equity due to home price appreciation.

You can use your equity to help you achieve your homeownership goals. Whether you want to downsize, move closer to loved ones, or buy a home in a dream destination, your equity can help get you there. It may be some (if not all) of what you’d need as your down payment on a home that better fits your changing needs.

To find out how much equity to have in your home, reach out to our trusted real estate professionals today.

Bottom Line
Retirement is a big step and so is buying or selling a home. As you move into this new phase of life, a trusted real estate advisor can guide you through the process as you sell your current home and give you expert advice as you buy one that’ll better suit your needs.

If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too?

To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map below):

You may be wondering: how can a single home sale have such a major effect on the economy?

For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

That means when you buy or sell a home, you’re leaving a lasting impression on the community at large. Let the knowledge that you’re contributing to those around you while also meeting your own needs help you feel even more empowered when you decide to make your move this year.

Bottom Line
Homebuyers and sellers are economic drivers in their community and beyond. Reach out to our trusted real estate advisors today if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community.

If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.

As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers (see visual below):

But don’t forget – that’s compared to the severely overheated market we saw over the past two years. According to the latest Confidence Index from NAR:

“. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.”

While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they’re buying homes that are priced right. In fact, the Confidence Index also notes the average home is selling in just 14 days.

If you’re aiming to sell your house, be sure you’re working with your agent to price it for today’s housing market. As buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. But it is still a sellers’ market.

If you’re ready to sell your house, seek the advice of a real estate professional. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today. Selma Hepp, Interim Lead, Deputy Chief Economist at CoreLogic, explains what’s happening and what it means when you sell:

“Signs of a broader slowdown in the housing market are evident, . . . This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates. . . . Nevertheless, buyers still remain interested, which is keeping the market competitive — particularly for attractive homes that are properly priced.”

Bottom Line
While the housing market has cooled from its overheated frenzy, it’s still a sellers’ market. Work with a real estate professional to understand what’s happening with buyer demand and home prices in your local area as you get ready to enter the market.

-Keeping Current Matters