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real estate agent

THE SECRET TO FINDING THE BEST REAL ESTATE AGENT

Discovering a real estate agent requires time, however, selecting your representative very carefully will repay ultimately. Right here’s exactly how to discover the ideal real estate agent.

When my partner and I initially began trying to find a real estate agent to acquire our initial residence, we seemed like youngsters attempting to browse the grown-up world. Up until you begin dipping your toes right into the home buying process, it is very easy to take too lightly just how little you understand. We promptly recognized that our typical routine of picking providers based on Yelp evaluations was woefully poor.

We began asking around. A few of our pals had just bought houses in Myrtle Beach and also we at some point, discovered that most of them had hired the very same real estate professional. After some cautious vetting as well as an in-person conference, we determined the same real estate professional.

We found out a whole lot concerning the home buying process, as well as why locating the best representative is the very first step to discovering the ideal house. Below is exactly how you can do it as well.

How To Find The Best Real Estate Agent

Where to discover a property agent
If you’re transferring to a brand-new city or do not have friends that just recently purchased a residence, you might need to do some research online.

Call your network to discover the ideal real estate agent
Going on the internet to locate a broker is just one of the most effective methods to go with. If you favor an even more human touch, you would do well by just asking around. Ask individuals you recognize that lately purchased or bought a home, for their point of view.

It is advisable to stick to individuals that have actually bought a residence in the last 6 months, due to the fact that property trends alter quickly. You intend to learn through somebody that has been with the process just recently, not a veteran house owner that bought the house years back.

If you’re marketing a residence, request suggestions from individuals that have marketed their residence lately. If you are getting a home for the very first time, ask various other brand-new property buyers for suggestions.

Interview your real estate agent in advance
Choosing the best real estate agent is just one of the most vital residence acquiring choices you’ll make. Much like you would not select a flooring professional without meeting them initially, do not hesitate to speak with a number of property representatives prior to making a decision.

If you are selling, ask a real estate agent for their straightforward point of view: Are you requiring a decrease in your asking cost? Are you making any type of considerable repair services prior to placing the house on the market? Is it a seller’s market?

If any individual appears extremely positive or impractical, remove them from your listing. You desire to work with someone who is likely to be simple and sincere with you, also when it’s difficult to listen to.

Comprehend the distinction between real estate agents as well as broker
A real estate agent is a certified specialist that needs to take an examination in order to offer and acquire residences in support of a customer. Representatives have the alternative of coming to be a property broker by taking a broker’s certificate test and also finishing some kind of education and learning called for by the state. Brokers will usually have several representatives benefiting them.

A real estate agent is constantly a representative or a broker, however, a representative or broker is not always a real estate agent. Ask any type of prospective realty representatives if they are also real estate professionals.

Qualities of A Real Estate Agent

Responsiveness
One of the most essential qualities of a real estate professional is responsiveness. In the warm market, a lot of locations are experiencing today, residences go promptly. In some cases being the first to make a deal indicates the distinction in between seizing your dream home or being overlooked in the cold.

Well-informed concerning your preferred community
You need to likewise try to find a realtor that’s acquainted with the community you are getting or offering in. A person that recognizes the community better is most likely to be a lot more accustomed to its advantages and disadvantages– as well as exactly how to utilize those high qualities to your benefit.

A permanent representative
See to it your real estate agent is a permanent representative, not a person doing it as a sideline. Ask to see their qualifications, including their realty certificate, how long they’ve remained in the profession and also the number of deals they finish in a month. Given the development of HGTV, lots of people have actually come to be representatives in an effort to get rich rapidly, not understanding it’s a genuine occupation that calls for ability.

Locating a real estate agent in Myrtle Beach requires time, yet choosing your representative meticulously will be worth it. Follow these pointers and you will be well on your way to locating a representative that will help you locate your dream home or sell your home at an agreeable cost.

Call Full Potential Real Estate, LLC if you want to work only with the best, most trustworthy, and most experienced real estate agent in Myrtle Beach.

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Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

Do You Need A Real Estate Agent When Buying A Home?

Many people don’t hire a real estate agent when they purchase a home. In fact, many homebuyers cut out the middleman. But, it might be a good idea to hire one. Here’s why:

To save time. Real estate agents can help you find residential properties within your budget and they generally have access to other available properties that you can’t see online.

To obtain information and assist with negotiations. Agents should be able to provide you with a wealth of information that will help you make an informed decision. They’ll also handle complex paperwork for you.

Buyers are often offered the services of a real estate agent at no cost. The seller usually pays the fees for both the seller’s and buyer’s agent.

The exception

Only one situation is where you need to use an agent in order to purchase property. This applies to FHA foreclosure properties. All bidders must use licensed agents according to the Department of Housing and Urban Development.

Are you really able to understand your market?

It can be quite a job to conduct a home search on your own.

Although the Internet makes it easy for you to find homes within your budget, an agent will usually have access to more properties. This includes homes that are not yet listed and properties that are For Sale By Owner (FSBO).

Some sellers may not want to sell their homes. Agents and their colleagues working with these sellers are the only ones to know about “pocket listings”.

Do you love paperwork?

Your agent can also handle tons of the paperwork for you.

If you don’t love filling out forms and are not experienced in real estate transactions, this is something you should leave to professionals who will ensure everything goes according to plan.

These documents could be misinterpreted. You could make a mistake and cause a contract to be invalidated. To limit the risk, a licensed real estate agent generally has errors & omissions insurance.

An experienced agent will ensure that all the necessary events — including extensions, counter-offers and inspections, walk-throughs, loan approval, and appraisals — take place when they are supposed to.

Are you a master at negotiating?

Good realtors should be able to provide you with the best possible sales and local data in order to negotiate the best deal.

An experienced pro will know what you can purchase in your local area for a reasonable price and what is a good deal. A pro knows how to make tempting offers, when it is time to be aggressive, and when it is time to walk away. This knowledge is particularly useful in areas where the home values of different blocks can vary greatly – or in seller’s markets.

According to the National Association of Realtors, most home buyers believe agents are worth their cost. About 87 per cent of home buyers bought their homes through a realtor. Around 99% of these buyers said that they would recommend the agent to others or use the same real estate agent in Myrtle Beach again.

If you are not an expert at negotiating real estate deals then follow the advice of your agent.

Remember that most sellers are represented by agents and that experienced negotiators often eat amateurs for lunch.

Your agent can help you avoid rookie mistakes, such as skipping the inspection or giving away your bargaining power by disclosing too many personal details.

Also, the seller usually pays the fees for the seller’s agent and buyer’s agent. There’s no reason to not interview other agents about representing your interests.

Avoid bad actors

Each industry has its fair share of high-quality pros, average talents, and poor eggs. The real estate industry is no exception.

Can you fire your real estate agent?

Although most agents will not pressure you to purchase properties, there are some who may pressure you to purchase homes that are less desirable.

Sometimes, an unscrupulous agent will try to sell a slow-moving house to make a quick buck. Sometimes, the seller promises a higher commission to the agent.

Dual agency: Conflict of Interest

However, the most common problem is when an agent (or agency), represents both the seller and buyer. This is called “dual agency”. Although it is not illegal in most states this practice isn’t ideal.

The agent’s task is to facilitate the transaction. There is no transaction where both the seller and buyer can be fully represented without conflict.

This is a fairly typical transaction, with one agent for each side. The sellers’ agent is aware that the listing agent represents them and is eager to get the house sold. The agent representing the buyers would have known this information and would have done the right thing to disclose it so that they could lower the price.

What if one person is the representative of everyone? The agent helps the buyer by disclosing information about the divorce. However, it is detrimental to the seller. The agent harms the buyer by not disclosing the information. It is impossible to work 100% in both the best interests of the parties.

Agents are more likely to favor the seller than they think, even if they’re doing it unconsciously. The seller typically pays their fee (6 percent of the sale price), and a higher price equals a greater commission.

Sometimes, the listing agent (seller) offers to pair you up with a buyer’s agent from the same office. It is possible to see buyers and listing agents working together as a “team”. This is probably not the best situation. Make sure you have a representative.

There are companies that represent only buyers. This is one way to avoid conflict.

What You Should Avoid Doing Online

The majority of people buy their homes online. You’ll likely see a house on a website that sells real estate. There will also be a link to “for more information.” If you don’t want agents who aren’t familiar with the property (but can buy leads from it), then don’t click the link.

You can contact the listing agent directly or have your Realtor handle it for you.

Find a great agent

Do your research before you hire a real estate agent. There are good chances that you know six agents at least and then about 20 others within your “friends of the friends” circle. While you don’t have to work alongside all of them, it is fair to give them the chance to earn your business.

What homebuyers today want from their real estate agent

It is important to note that although many people use the terms “realtor” and “agent” interchangeably, these are separate entities. Realtors are agents that are members of The National Association of Realtors. Agents are required to follow the rules of their governing body. However, they do not have to be members to work for the NAR.

Realtor is also pronounced “Realtor” and not “Real A-Tor”. You don’t want to sound silly.

You should find someone who is a specialist in your price range. The “agent to stars” won’t pay much attention if it’s a $90k fixer.

You will need to work with a full-time agent. You don’t want someone who works four days a a week and only sells houses on Wednesdays.

You should choose a pro. You don’t want your agent to make mistakes in a the field.

You can check their background online to ensure they are licensed.

You might need extra firepower if yours is a complex transaction. Some agents have additional training and earned extra designations for their special expertise, such as Accredited Buyers Rep, Certified Residential Specialist, or Certified International Property Specialist.

It is usually bad to hire a neighbor, friend, or relative as your agent. Mixing business with pleasure can cause problems in relationships.

Like our Facebook page for more great info about buying or selling a home.

Call Full Potential Real Estate, LLC now if you’re looking for a trusted and reliable real estate agent who can help in either purchasing or selling a property.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

Hire A Real Estate Agent When Selling Your House

There are two options when deciding if you should hire a real estate agent to help you sell your home. Is it feasible or realistic to sell your house without professional help?

These are questions that many sellers ask, but only a few end up selling without an agent. Only 11% of sellers choose the for-sale by-owner (FSBO). Another 5% took on the majority of the work themselves, but hired a real estate agent to help them close the deal. About 13% tried to sell themselves before hiring an agent.

Does the law require me to hire a real estate agent when selling my house?

You are not required to use a real estate agent in Myrtle Beach for the sale of your home. FSBOs can be used in all 50 states.

You may need to have a real estate lawyer to help you with the paperwork depending on where you are selling. Alabama, Connecticut and Delaware, District of Columbia are the states that require a closing attorney.

These requirements could change as state laws are changed, so make sure to check the rules in your state before you sell.

Can I sell my house without an agent?

Selling without a listing agent is legal. Selling on your own is possible depending on your goals, your skills and your willingness and ability to work hard.

It is estimated that it takes between 55 to 70 days to sell a house nationally. However, this can vary depending on where you live. Expect to devote a lot of your time to the process, including the preparations necessary to list your home.

Why would I need an agent to help me sell my house?

Most sellers choose a listing agent to help them sell their homes. This is because the job requires dedication, patience, expertise, and skill. Many FSBO sellers work full-time and have other obligations that make it difficult to devote the necessary time to sell their homes. Sellers often find that the 2.5% – 3% commission they pay to their agent is more important than a faster close, higher selling price, or smoother transaction.

An agent is your trusted advisor who will help you understand your local market and provide tips on marketing your home. You can also view past sales, review an agent’s listings, and connect with them directly when you are ready.

Why sellers prefer to work with real estate agents

Agents are chosen by sellers for their wide range of services. These are the top services that sellers depend on when they sell a house.

  • 74% of the respondents have their realtor offer guidance in the selling process.
  • 73% of respondents have them organize and submit paperwork.
  • 71% turn to real estate agents for help in finding interested buyers.
  • 70% rely on real estate agents to manage contract negotiations.

Why do FSBOs eventually enlist agents?

Half of those who try FSBO eventually hire a real estate agent in Myrtle Beach. These are the top three reasons they made the switch.

  • Selling is easier when you have an agent.
  • Selling FSBO takes too much time.
  • They needed assistance with paperwork.

Before you decide to take the FSBO route, here are some things to consider:

1. How much time do I have?

At least one activity related to your home’s sale should be planned when it is put up for sale. You might be collecting paperwork for pre-listing, hiring a photographer the next day, or hosting an open house on weekends. You will be available anytime to answer questions and schedule tours round the clock.

2. Are you familiar with the local market?

It is easier to FSBO in a seller’s market because homes sell more quickly and at a higher price than the asking price. There are also fewer price reductions. It can be more difficult to sell in a buyers market. This is because it takes longer to get a great offer and there are many listings that have a professional agent who handles the marketing for the entire listing period.

3. What price can I set for my house to sell?

It is crucial to correctly price your home. This can be difficult. To set a fair listing price, you will need to learn (or practice) how to run comparables. Your listing could become stale if you exaggerate the value of your home. In this case, you might have to lower the price. You could lose money if you underprice your house.

4. Can I get rid of my emotions?

While your home is likely very important to you, it’s also important to remember that you are acting as an agent and must be objective about negotiations, offers, as well as buyer feedback.

5. Are I willing to pay a buyer’s agent?

Selling alone is a popular choice because it saves you commission fees. Even if you are able to avoid paying 2.5% to 3.3% commission to your agent, your buyer’s agent will likely still charge 2.5%–3% of the sales price — unless the buyer uses an agent. So be prepared to pay their commission.

6. How can I get my house marketed for maximum exposure?

First, find an agent to sell your house. Agents spend a lot of time marketing early in the selling process. You may need to hire an agent to help you sell your home. A professional photo, 3D tour, and captivating description are all necessary when listing your home.

7. Are you familiar with the laws of the state?

Real estate is a highly regulated business. This is why you should hire a real estate attorney if your property is being sold FSBO. You will need to know about fair housing laws, closing requirements, disclosure laws, and paperwork.

8. What happens if my house doesn’t sell at all?

You should be able to pivot to a different plan if your home does not sell in a reasonable time. It’s no surprise that 83% of home sellers use an agent to sell their homes. Selling a house is difficult work. The costs of a listing agent’s fee may outweigh the lower sale price for your home if it sits on the market too long.

Options selling with non-traditional commission

Here are some alternatives to FSBO if you are hesitant about selling traditionally because of the high costs.

Negotiate the commission

If you are willing to do some of the listing-related tasks yourself, sometimes agents will offer lower commissions. If you are both selling and buying with the agent, they may be more inclined to negotiate a lower commission. Nearly half (46%) of sellers negotiate with their agent. Just over half (55%) of sellers are successful in some manner. 61% of sellers who were buying simultaneously with their agents changed some or all of their terms. This is higher than the 45% of those selling only.

Hire a broker

You could instead of hiring a full service agent, consider a discount broker. A discount broker will usually offer limited services in return for a lower rate.

You can, for a few hundred bucks, have your house listed on the local MLS. The agent will do all the work. An agent might be willing to charge a reduced rate for a shorter list of services. Make sure that your listing agreement clearly states what your agent will be responsible for and who you will be responsible for.

Like our Facebook page for more great info about real estate agents in Myrtle Beach.

Call Full Potential Real Estate, LLC now if you need help in selling your home. Our team is always ready to help.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

Why Choose A Real Estate Agent

Although it may sound amazing, you can save thousands of dollars selling your home yourself. This is also called “for sale by owner” (FSBO). A standard commission for a real estate agent is 5% to 6.5%. This works out to $12,500-$15,000 for a house worth $250,000.

It is possible to believe that the cost of acting as your seller’s representative is worthwhile. These are the reasons to think twice.

Why You Need A Real Estate Agent

A Realtor may not be able to show a property “For Sale By Owner”.

Agents for buyers know that there may be times when no one is available to assist with the FSBO transaction. Agents may discourage clients from making an offer even if they want to see the house. Agents will inform you about the risks and hassles of closing the sale without the assistance of an agent.

If your house is in good condition, a buyer’s agent may be able to assist you with selling it. The agreement that would detail the percentage of the seller’s fee and the agent’s fee would be signed by the realtor. A real estate agent in Myrtle Beach might charge a commission of 6% to the seller and buyer. You should negotiate a lower commission fee, between 2% to 3.3%.

The agreement should clearly state that the agent is working only for the buyer. It may also be stated that the agent works only for the buyer in the agreement.

Avoid emotional sales with agents

It can be difficult to sell your home. A professional real estate agent will help you stay on track. They can also help you avoid making silly mistakes such as overpricing your home, refusing to take a low offer because of anger, or succumbing under pressure to sell before the deadline.

If a buyer’s agent rejects your offer, you will need to deal with it. A buyer’s agent can help you deal with rejections and add positive spins to negative feedback.

Real Estate Is a Full-Time Job

Is it possible for you to rush to work every time someone calls to view your house? Is it possible to leave meetings each time a potential buyer calls you? Are you energized after a hard day at work? Are you an expert in marketing homes?

Do you know the process? These questions are most likely answered “no” by you. All of these questions will be answered by agents with a “yes” answer. Agents are also able to show your house, even if it is not yours.

Agents have access to large networks

Redfin or Zillow allow you to list your home. Is that enough? Even if you have a strong professional network or personal network they won’t be interested in spreading the word on your house for sale.

You don’t have to be in touch with any other agents or clients to bring potential buyers to your home. There may be less interest in your property, and you might not receive as much money.

Do not sell to unqualified buyers

An agent can help determine if the potential buyer is qualified or just a dreamer. This can be time-consuming and can disrupt your daily life. Your home should be beautiful before you show it. You should limit the amount of hassles involved in showings that will most likely lead to a sale. It will be awkward for buyers to have the seller present while they tour the home.

Price negotiations require skill

Although you might have some sales experience, your skills are not sufficient to negotiate a home purchase. You will be able to negotiate for less money because the buyer’s agent is more successful.

Not only are you inexperienced but also more likely to get emotionally involved in the process. You are more likely to make bad decisions if you don’t have an agent to guide you.

An agent won’t respond to an emotional, inappropriate or offensive seller’s response. The agent will instead state something more professional, such as “The seller declined to accept your initial request but has made this counteroffer.”

Solo sellers may not be as familiar with local customs and markets. Agents can gauge the market’s pulse to determine what is driving demand. Agents can determine which terms are worth negotiating, and which ones should be left alone.

When selling a house, agents are familiar with the local customs. This includes fees such as transfer taxes and closing costs.

You overlook the flaws of your home

Agents are experts in selling homes. Agents are able to walk through your home with you and point out what you need to do to attract buyers. They may not see all the flaws you see everyday, but you might not see them as flaws. Potential buyers can provide feedback to help you choose which feedback to act on once your house goes on the market.

Exposure to Risks

A home-sale transaction involves many legal documents. These documents should only be completed by experts. One of the most important disclosures is that of the seller.

Your real estate attorney may not be as knowledgeable about disclosure laws as your agent. If you fail to disclose a defect or nuisance, the buyer can sue. Agents can make mistakes but they have professional errors or omissions insurance which protects them and provides recourse for the buyer. The seller may not be liable for damages.

The bottom line

It’s very difficult to sell your home without a realtor. This will be the biggest transaction in your life. You can save money by hiring an agent, but there are many benefits to using one.

Real estate agents in Myrtle Beach can help you gain more exposure for your property. Agents can negotiate better deals, spend more time on your sale, and protect your emotions from being sabotaged. An agent can assist you in navigating a complex transaction that could cause financial and legal problems.

Call Full Potential Real Estate, LLC now if you need help in buying or selling your home.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

WHAT TO CONSIDER WHEN HIRING A REAL ESTATE AGENT

Buying a home and finding the right Myrtle Beach real estate agent go hand in hand. These two things always go together. You might find a good property without the help of a real estate agent but you will have to spend a lot of time doing so. Not to mention the hassle of doing all the negotiations and paperwork on your own.

However, hiring a real estate agent makes your life easier as these professionals help you land the best deal in town. Here are some tips on how you could find the right person:

You can get a great deal with the right real estate agent

Do a self-assessment of your property – if you’re in the market for a real estate agent because you want to sell your property, you might want to assess its value beforehand. This shouldn’t take some time. Assessing your home’s selling points won’t be an issue since you’ve been living in it. Be sure that all your assessments are honest and that everything is disclosed. This often helps the real estate agent in Myrtle Beach find a buyer for your home.

Be sure the agent is familiar with your neighborhood – the last thing that you would want is hiring a real estate agent that is not familiar with your neighborhood. If you’re buying a home, a realtor that knows a neighborhood like the back of his hand will let you in on the best deals around. The same goes if you’re selling a home. The agent could tell you the prices of the properties being sold in the area letting you know about your chances of selling.

Look for agents that work inside your price range – there are realtors that specialize in a particular price range that might be outside what you’re selling or buying. If you want to sell your home fast or want one, hire an agent that deals mostly within your price range. This will let you achieve your goals faster.

Have a one-on-one meeting – nowadays, you can simply call an agent over the phone, through the internet, and other means of communication. However, nothing beats meeting with the agent in person. This is basically getting to know the agent and confirming that you are on the same page with your plans.

Don’t hesitate to ask about fees – we all get paid for our service and you should not be afraid to ask the real estate agent directly about his or her fees. On average, real estate agents make a 5-7% commission on home sales.

Do your homework – when you are looking for a real estate company like Full Potential Real Estate, LLC, always do your research. It helps to know the background of the real estate agent or company before hiring them. This gives you the advantage of knowing what’s at hand. This also gives you the freedom to choose the good ones from the bad ones.

Call Full Potential Real Estate if you want to work only with the best, trustworthy, and experienced listing agent in Myrtle Beach.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

Hiring a Real Estate Agent

A real estate agent works for either the buyer or the seller of the property. Either way, it is good to hire one regardless of which end you are on. When it comes to selling a home, it would be best if you hire a listing agent to make sure that your property will sell in the least amount of time for the best price. The same goes when you’re buying a home.

Hiring a buyer’s agent is the best way to look for a home. Not only will you find the hunt a lot easier, you also get to have more options than you would have when you did the search on your own. Needless to say, a real estate agent is necessary for transactions that involve any kind of property. Here are some of the reasons why you should hire a real estate agent in Myrtle Beach:

Tip – to get the best price when buying a property, always hire a real estate buyer’s agent

Ask about fees – a lot of people get lost in the process of buying or selling a property that they often brush aside the fees involved when hiring a realtor. This should not be neglected and should be one of the first few things that you should speak about when hiring one.

Understand the contract – although the listing or buyer’s agent would assist you on the process of buying or selling a home, you should be responsible enough to read the contract. Take time to understand it. Read it thoroughly and ask your agent for details if you have some questions.

Ask about their affiliations – when hiring a real estate agent, it would be best to ask them about their affiliations. Most of the time, agents that have the widest reach in terms of affiliation can get you the best deal.

Ask about familiarity – another good thing to ask is how familiar the agent is when it comes to your property or your property of choice. This should be looked into so you could make sure that the agent knows how to handle your needs like the back of his hand.

Ask how long it takes to sell – when you hire a real estate agent, it’s not something magical that your property would just sell overnight. The selling process takes time and you should understand the timeline properly to avoid any mistakes.

Ask how many years they have been in the business – when dealing with the sale or buying of properties, it usually requires a lot of experience to get the best deal. When buying a property, you should get in touch with the professionals in the industry that have been in the business for many years. Experts like Full Potential Real Estate, LLC can fully guide you on the processes that are involved when you want to buy or sell a property.

Ask for help from our reliable real estate buying agent at Full Potential Real Estate, LLC.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

Possible Effects of a Recession on The Housing Market

The U.S. economy has seen its fair share of economic downturns. Many of us may recall the Great Recession that lasted from 2007 through 2009. Here is some information from a seasoned real estate agent.

The unemployment rate soared during that period, while home values plummeted. It was difficult to be a homeowner or real estate investor back then.

The housing market is soaring right now. The housing market is still at record levels, with buyer demand soaring.

However, an economic recession could cause some major changes in the housing market. If the economy takes a significant turn for the worse, here’s what might happen.

Tips From Real Estate Agents

The red-hot stock market may finally cool down

Although there are many criteria that define a recession’s severity, the most common is one marked by high unemployment. Stock values can sometimes plummet during recessions. However, that is not always the case. Similar to stock values, home values can also plummet in a recession. However, this will depend on factors such as borrowing rates as well as buyer demand.

It could lead to a drop in prices if the U.S. economy falls into recession territory, as some financial experts warn. However, this is not always a good thing.

According to the National Association of Realtors, home prices rose 15% annually in March. This means that home prices can fall without triggering a crisis situation wherein countless homeowners are left underwater on their mortgages.

Inventory is low and demand is high, which is the main reason why home prices are so high right now. A recession could lead to less demand, especially if mortgage rates continue to rise or remain high. This could lead to lower home prices.

However, unless the housing inventory increases quickly, it’s unlikely that we will see a drastic drop in home prices. Because supply is still so low, the supply of homes available on the market was just two months as of March 31st. This is a significant drop from the normal four- to six month supply in an equalized housing market.

Even a drop in buyer demand, because inventory is so low, shouldn’t lead to a housing market crash. It might actually open the housing market, which could allow financially secure first-time purchasers to have a chance at property ownership, as well as real estate investors, to purchase income properties more affordably.

Are homeowners concerned about a possible recession?

Homeowners have record amounts of equity right now. Even if there is a recession and home prices fall, equity should not be lost.

A near-term recession may actually have minimal impact on home values, given the fact that there is still very little inventory in the housing market. This is something that current property owners can take solace in.

Call Full Potential Real Estate, LLC now if you’re looking for a real estate agent in Myrtle Beach.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

selling your home

Do You Need To Renovate Before Selling Your Home?

selling your homeThe most common question about selling your home is whether or not you should renovate it beforehand. You want it to be sold for more than what you paid. The truth is that the “right” answer to this question is complex because some renovations or home additions won’t increase the value enough for you to break even.

This is what you should know if you are asking about the renovations that you must complete before you sell your house.

Home Renovations Before Selling Your Home

What do Home Buyers Really Want?

There are two types of buyers you will encounter: those who want a home that is ready to move in and those who want to fix it up or flip it.

Home buyers are looking to buy a house that is ready for immediate occupancy, while home flippers are looking for something different. Buyers want a home that is comfortable for their family and won’t require major renovations.

Investors looking to get deep discounts on homes are called house flippers. They are skilled in fixing up homes and then selling them to buyers for a premium. Maximizing profit is their goal.

What do Home Sellers Really Want?

Home sellers want to sell as soon as possible and for the best price. This is why most home sellers are willing to do minimal work. Many homeowners aren’t planning on moving anytime soon, and they want to make costly renovations such as a bathroom or kitchen remodel.

You should plan renovations based on the type of buyer you are looking for when you sell your house. You might find guidance in the seller’s pre-inspection report to help you plan your work.

Timeline

The duration wherein you intend to live in your home. You may not see a return on your investment for all renovations, so it is worth making major renovations while you still have the opportunity to enjoy them. You can renovate your kitchen if you plan to sell your house in five to ten years. The renovation will allow you to have fun while still receiving a significant portion of your investment back at the time of the sale.

In other words, you might not want to start a kitchen remodel if your move is in less than a month. You shouldn’t expect your fixer-upper to sell for the same price as the move-in-ready home next door.

Budget

What amount do you need to prepare your home for sale? Are you aware of the cost of selling your home? Do you have the skills or need to hire someone? Don’t spend too much on renovations because it will decrease your sales proceeds. Consider selling your home as-is if your remodel costs more than it is worth.

List Price

What is the best price to sell your home in Myrtle Beach? Even the most expensive renovations won’t increase your home’s value if you live in an area with low-priced homes. This is something to keep in mind when you are thinking about renovating.

Things to Fix Before You Sell Your House

Making some improvements to your home will make it more appealing and easier to sell. A key part of maximizing your profit on a sale of your home is staging it.

A deep clean, a new coat of paint on the interior, landscaping, and improvements to energy efficiency are some of the best ways to increase your home’s value.

What are the best ways to pay for home renovations?

Your home is more than a place where you live. Your house is also a savings tool. When you are ready to make major renovations or other major projects, you can use the equity you have built by applying for a cash out refinance. A home equity loan, or a line of credit could be an option.

Listing agents are real estate agents who specialize in helping home sellers. They can help you determine the best way to sell your house quickly and at the highest price.

Listing agents can help pinpoint the areas of your home that will yield the best renovation results. They can tell you, for example, how much your house is worth if you remodel the kitchen.

They will also consider the costs of the surrounding area, including the property’s condition, age, features, lot size, and other factors. The listing agent will also keep an eye on the market conditions and how they can impact your home.

The Best Renovations Before You Sell

Modernized bathrooms and kitchens are a popular choice for buyers as they can make a first impression on the entire home. Renovations must be adaptable to market changes and accommodate a wide range of tastes.

These are the best projects to add value to your home:

  • Kitchen renovations
  • Bathroom renovations
  • New flooring
  • Repainting
  • Upgrading Garage Doors
  • Replacing Stone Veneer Siding

Call Full Potential Real Estate, LLC now if you are looking to sell your home. Our team is ready to help make sure that your house sells fast at the best price possible.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

 

home buying

A Checklist When Buying A Home

It can seem like a full-time job to find, buy, and move into a new home. A checklist of the most important and essential “to-dos” items will help you stay organized when you’re buying a home.

Tips To Know When Buying A Home

Pre-approved for a mortgage

Knowing what a lender is willing to let you borrow and at what interest rate will give you a better idea about what you can afford. Keep in mind that longer amortization periods, such as a 30-year or a 15-year mortgage, will result in higher interest rates over the course of time. If you believe rates will drop over the term of your mortgage, only choose a variable rate.

Find the right broker

While the top seller in your area might be great for buyers, it’s not enough to work with the best real estate agent. You need someone who listens to what you want and can help you find it. Do not waste your time looking at homes that aren’t right for you or your budget. Follow your instincts.

Get in touch with an insurance agent

It is important to have homeowner’s insurance. Your agent, just like your realtor should be consulted about any potential home purchase. They can help you choose the right insurance policy for your new house by providing advice about factors that could affect your insurance premiums.

Calculate your monthly expenses

You should consider not only your mortgage payments but also taxes and insurance, as well as utilities, maintenance, and cleaning costs. You should include semi-annual and annual expenses such as cleaning gutters and maintaining heating and cooling systems. While you don’t know the extent of major repairs that may be required, you can estimate how much each month will cost and whether your budget can support it. You should always leave yourself some leeway and save money for any unexpected costs when buying a home in Myrtle Beach.

Concentrate on a home inspection

Hire a reliable home inspector and take your time. The home inspector will inspect the roof, cooling and heating systems, foundation and other details. You can also take measurements and think about where you would like to place the furniture. You should be ready to think about how much you love the house, in case of the inspection results in costly repairs down the line. Depending on whether your offer was inspection-contingent, you may need to negotiate.

Trusting a mover

Talk to as many people as possible, especially family members, friends, and neighbors who have recently moved. Before you start packing, make sure you take a detailed inventory. This is especially important if you have movers to pack your stuff for you. You are giving everything to them and putting it on their truck. As is moving insurance, trust is crucial. Make sure you have insurance that covers loss and damage.

Customizing your insurance policy

After you have placed a bid on a property you will need to consult your agent about the best coverage for you. Make sure you take an inventory of all your belongings. You may also want to consider adding coverage for your home’s features like water heaters and HVAC systems. If you’re taking out a mortgage, your policy must be in place before the closing date.

A declarations page will be required by your lender to show proof of payment for the first year’s premium. Your insurance could be added to your monthly house payment along with taxes. Ask your agent about any discounts and make sure you review your policy annually to ensure that you are adequately protected in the event of unexpected life changes.

Call Full Potential Real Estate, LLC if you need the help of a professional when buying your dream home.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

real estate agent

RULES WHEN WORKING WITH A MYRTLE BEACH REAL ESTATE AGENT

To ensure a successful real estate transaction, you will need to be able to collaborate with the real estate agent. A strong and trustworthy working relationship with the real estate agent will help ensure a successful real estate venture.

Tips When Working With A Real Estate Agent

Always show respect

Even though they are technically working for you, it helps if you treat your Myrtle Beach real estate agent as your partner. Keep in mind that you may not be the only homebuyer the agent is working with. Thus, you should always show respect and common courtesy whenever dealing and meeting with the agent.

If there are any changes with your schedule, always inform the agent ahead of time, especially if you are going to be late or have to cancel one of your meetings. Always inform the agent so they can adjust their schedule for you or you can reschedule at a more convenient time for the both of you.

Implement proper open house protocol

Real estate agentreal estate agentWhen working with a real estate agent, there is a specific protocol that you should follow when attending open houses. Bear in mind that there are open houses where your real estate agent should go with you. There are other open houses that you can go to even without your real estate agent.

When going to an open house without your real estate agent, make sure the agent hosting the open house knows that you are already working with an agent. You can easily do this by handing over your agent’s business card.

It is always best to have your agent ask questions about the seller of the house. You can inquire about anything about the house such as its condition and history. But you should leave all other questions, particularly ones pertaining to the cost of the house as well as the seller’s motivation, to your real estate agent.

Clearly communicate with the a real estate agent in Myrtle Beach what you expect from your partnership

It is important for you to let your agent know what you expect from your collaboration.

  • Do you want the agent to pick you up and go with you every time you are visiting a house or going to an open house?
  • Do you want the agent to call you every day with updates regarding the house you are looking to buy or with information on potential houses that you can buy?
  • Or do you prefer communicating via emails or instant messaging?

You should let your agent know about your expectations so they will be able to understand you better and be better able to work with you effectively. At the same time, it will also help if you ask the agent what they expect from you. This way, you will both be able to understand each other and communicate better creating a more harmonious and, eventually, successful working relationship.

Set realistic goals and timeframe

Whatever project you are working on, it always helps to set realistic goals and timeframe at the beginning of the project. Have the realtor work with you in creating these goals and timeframes. Keep in mind that they will be working with you and that they will be putting in as much effort as you in this collaboration.

Always communicate clearly

If there are things that are not clear to you or things that you want to change in your purchase proposal or agreement with the seller, let your Myrtle Beach real estate agent know right away. Similarly, with any type of relationship, clear communication is necessary to ensure success. Plus, you will both learn to trust and work more efficiently with each other if you have open communication.

Working with a Myrtle Beach real estate agent is an important aspect of a successful home purchase. Always work with a licensed and trained real estate agent in Myrtle Beach.

Give Full Potential Real Estate, LLC a call now to inquire about their services.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
https://fullpotentialrealestate.com

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