History of Real Estate Agency Relationships

In the beginning, real estate brokers were known as middlemen and optioneers. Back then, the customary practice was for a middleman to know about a property for sale, but to keep it secret from other middlemen. It was difficult for these middleman to collect a fee for their services so they would resort to tactics that were not always in their seller’s best interest. Optioneers, on the other hand, were usually more successful in collecting their fees because they would tie up the seller’s property on an option to purchase, sell the property to a buyer at a price over the option amount, pay the seller the option price, and then pocket the rest.

The early real estate brokerage business was loosely organized and used methods of brokering that were often dishonest, subject to fraud, and that took advantage of sellers and buyers. Eventually, a newer concept with the real estate broker being an agent of and owing a fiduciary duty to the seller and receiving payment for his services was developed. This new concept forced the seller and broker relationship to a higher level of service and duty. It also allowed brokers to list property for sale using contracts. These contracts are what we now refer to listings. The earlier forms of listings we called open listings. The open listing is a type of non exclusive listing contract authorizing a real estate broker to offer a property for sale, find a buyer and get paid for services upon the closing of that transaction.

Other brokers could also have open listings for the same property, but only the broker who actually found the buyer would receive a commission. In addition, no broker would get paid a fee if the seller sold the property. The open listing discouraged cooperation between brokers, since each broker could obtain their own open listing. To solve the open listing problem, the exclusive agency listing became popular.

The exclusive agency listing is a type of listing contract wherein the seller offers only the listing brokerage compensation if the buyer is procured through the brokerage’s efforts or the efforts of other real estate brokerages. This means that in certain situations, such as For Sale by Owner, the listing brokerage may not receive compensation when the property is sold. In the exclusive agency listing, the listing brokerage or another brokerage working with the listing brokerage must procure the buyer in order to have a claim on compensation.

The exclusive agency listing encourages competing brokers to find buyers for listing, since the listing brokerage pays the selling brokerage’s fee. However, the seller still does not pay a fee when a seller finds the buyer. The exclusive agency listing eventually gave rise to the exclusive right to sell listing.

The exclusive right-to-sell agreement, the listing brokerage is offered compensation in the event of a sale regardless of who procured the buyer. The exclusive right to sell listing guarantees that the listing broker will get paid a fee, even if a competing broker or the seller sells property. It provides the most protection for the listing broker and is considered in the best interest of the seller because the listing brokerage will put effort and resources into marketing the property, since a commission is guaranteed during the term of the agreement.

Even after the exclusive right to sell listing became popular, there was little cooperation between brokerages, since a buyer who wanted to buy a specific property would have to deal with the broker who had exclusive listings of interest. It was also quite clear to all parties in that the broker represented the seller and that the buyer had no representation.

By the 1950s there was pressure for more cooperation between brokerages. As a result, a broker working with a buyer would contact competing brokerages to to learn of their inventory and possible matches for their clients. Deals often resulted where the selling agent did not know the seller or their agent and the selling agent’s only dealings were with the buyer. Suddenly, the concept that the selling brokerage owed its fiduciary duty to only the seller was no longer a neat and logical concept. However, it would take many years before the unworkable agency concepts would be sorted out and lead to buyer representation.

As the 1950s and 1960s progressed, a more formalized cooperative brokerage system, known as the Multiple Listing Service (MLS), was developed. Through the MLS, the concept of subagency evolved. Simply stated, this meant the listing broker was the agent of and represented only the seller. The listing brokerage would hire sales associates who were considered subagents of the seller. The listing MLS brokerage was required to make the listing available to all cooperating brokerage within their MLS. These cooperating brokerages were also deemed subagents of the listing brokerage, who were agents of the seller. If the cooperating brokerage had sales associates, they were subagents of the cooperating brokerage, who were subagents of the listing brokerage, who was the agent of the seller. During this period, an agency relationship with a buyer was not possible, since the agency relationship was always with the seller. The only duty a licensee owed to a buyer was to not lie when asked questions about a property. The concept of „buyer beware“ was truly the reality of how the brokerage business operated and buyers were always unrepresented.

The rise of consumerism, as manifested in numerous court decisions, put pressure on the brokerage business to be more concerned with the interests of the buyer. Because of that, licensees working with buyers had an affirmative duty to disclose known matters affecting a property. For example, if the broker knew that a roof leaked, he would have to disclose this fact. This disclosure concept was later expanded by the courts to include conditions about the property that the brokers should or could have known.

By the 1980s, a government study found that nearly three-quarters of all buyers thought the brokerage they were working with was representing them as a client. The same study concluded that nearly three-quarters of all sellers also thought that the cooperating brokerage represented the buyer’s interests. It soon became obvious the concepts of agency law that the industry and governmental regulators had attempted to impose in order to simplify and clarify the agency relationships had not worked. Continued pressure from consumer groups and the courts finally led to the buyer representation movement of the 1990s.

In 1991, the National Association of REALTORS® formed an advisory group to study agency representation issues. Testimony was received from real estate practitioners, industry experts, the public, and state regulatory authorities. The advisory group’s report made the following recommendations:

  • The NAR’s multiple listing policy should be modified to make subagency offers optional. If subagency was not accepted by a cooperating brokerage, then the listing brokerage was to offer compensation to the brokerage representing the buyer.
  • The NAR would encourage state associations to promote changes in real estate law and regulations in order to promote disclosure of agency options. These options would include seller agency, buyer agency, and disclosed dual agency. The purpose of this recommendation was to assist consumers in making informed decisions regarding representation.
  • The NAR should encourage real estate brokerages to adopt written company policies addressing the handling of agency relationships with its clients and customers.
  • The NAR would encourage education of all members on the topic of agency representation. State regulatory agencies would also be encouraged to include agency as a mandatory topic in continuing education requirements for all licensees.

As of 1992, the National Association of REALTORS® adopted the following policy:

„The National Association of REALTORS® recognizes seller agency, buyer agency and disclosed dual agency with informed consent as appropriate forms of consumer representation in real estate transactions. The association respects the need for all REALTORS® to be able to make individual business decisions about their companies‘ agency practices. Furthermore, NAR endorses freedom of choice and informed consent for consumers or real estate services when creating agency relationships with real estate licensee.“

These NAR changes to representation policy modified the way the industry practices. Exclusive Right to Represent buyer agreements now allow a buyer to contract with a brokerage to find, and negotiate, the purchase of real property. Generally, these agreements are for a specified period and require the buyer to pay a commission upon the closing of the real property transaction. As an agent of the buyer, the buyer’s brokerage owes all of the fiduciary duties (care, loyalty, disclosure, obedience, and accounting) to his principal, the buyer.

Immobilienmakler Heidelberg

Makler Heidelberg

There Are Many Options When Looking For Cheap Houses For Sale

When you are searching for a home to buy, especially if it is your first, budget is a major consideration. You will need to come up with earnest money, a down payment, and closing costs. Looking at homes in older neighborhoods or a more modest area of town is more likely to produce a number of cheap houses for sale. This will provide you with more choices. You could also consider buying a home with a rental property attached, or even a mobile home for greater affordability.

One possibility is to buy a very old home in need of tender loving care and customize it to suit your needs and taste. The charm and coziness of an older style home can be very appealing, and the romantic notion of renovating is also a draw for a do-it-yourselfer. Of course if it needs a good deal of work, the cost can defeat the purpose of finding an inexpensive house. You are likely to need new carpet and paint in any home you purchase that is not new, but an old fixer-upper could easily become a money pit if you’re not careful.

Another choice when looking for cheap houses for sale, is to try to find a home which has a rentable apartment attached, such as a little duplex where you could live in one half and rent the other to help make your monthly mortgage payment. The cost of this type of home might be a little higher than what you have in mind initially, but could potentially have a big payoff on the other end as your income property pays the lion’s share of the mortgage payment.

If you are looking for cheap houses for sale, don’t discount the value of manufactured housing. These mobile homes, as they are also called, give you more bang for your buck in many ways than traditional housing. Because these are constructed assembly-line style in a factory setting and moved to the site, the labor cost and materials are much lower. This savings is passed on to the consumer, who then has an option on a very affordable home. And to save even more money, look for a previously owned mobile home, which has already seen the bulk of its depreciation. These homes can be as roomy and comfortable as traditional housing at a 30 to 40 percent savings for the same square footage.

Arm yourself with tools such as the classifieds, your telephone, and a map of the city and begin your search–a little research and effort will find you no shortage of cheap houses for sale to choose from.

Immobilienmakler Heidelberg

Makler Heidelberg

How to Find Real Estate Buyers by the Dozen

Buyers are out there, it’s just a matter of rounding them up and keeping in touch. It helps to be able to determine which type of buyer you are hunting for from the start. Remember this: you’re the person who has something they want when a buyer calls you; if you are calling them then you are trying to sell them, let’s insure buyers call you so you remain in the position of power from the start. You should Be a Real Estate Heavy Weight.

Let’s look at a few categories of typical buyers to get some perspective on their mindsets and how and when we’ll market to find them in order to supply their real estate buying needs.

o Rehabbers: These are folks looking to fix and flip property for quick turn profits.

o Landlords: These are folks looking to buy to rent out to others for long-term equity accrual while generating a positive cash-flow every month.

o Wholesaler’s: Will either buy or put an option on your contract to hopefully flip the paper to another buyer who is willing to pay more.

o Lease Option end-buyers: These are folks who can’t qualify for a loan of their own but want to be home owners as opposed to renters again.

o Retail Buyers: These are end buyers who can obtain a mortgage or have cash and generally buy the property for their own housing needs.

There are variations of buyers out there but the above 4 types are generally considered the prime targets of people who have property to sell. Understanding each buyer’s mindset helps you to market to those buyers interests, do they want quick cash, long-term wealth, tax deductions, a place to call home etc… If you ask enough general questions you’ll quickly discern which type of buyer you have at hand. Once you know, you can then tailor your offers and present properties that satisfy what is important to them.

Buyer: Someone who is ready, willing and qualified! Those that aren’t qualified may be perfect tenants, lease option buyers or owner finance candidates, so qualified can have different meanings.

Ready: Someone who is in the market to buy within 1-45 days, keep in mind a retail or lease option end-buyer generally buys once and they’re out of the game, landlords, rehabbers and wholesaler’s are more likely to buy multiple properties from you over time as they accumulate, sell or flip existing assets. Having active buyer’s lists in different categories that are often ready to buy property is a very smart way to operate.

Gee Danno, how do I find these people? Ah! I’m so glad you asked! Let’s start out with one of the all time greatest methods to kick-start your building a buyers list. In your search for bargain priced properties of your own, it makes sense that you will eventually find a very good deal, once you have a superior deal to offer you turn around and market that property at cost! Yep, no profit for you on this one. Why? Because you are going to advertise that property to every investor and potential property buyer on the planet!

The reason for this is that you will get the most calls and response when you advertise a screaming deal! Granted you’ll most likely sell that deal relatively quickly but you’ll be gathering information from each potential buyer who calls to build your buyers list for future properties that you offer. If you don’t have a property of your own to sell, ask someone who does! I can assure you that they aren’t going to turn down your offer to advertise their property for them for free! You might negotiate a small fee if in fact you do sell their property but your main objective is to build you buyers list!

Let me give you an example of one way to collect potential buyers by the dozen, hold an auction, advertise for a solid week in advance so you attract the most amount of buyers, begin with bandit signs, placing about 100 of them around a 5 square mile area of the property, we just did this and had 800 calls because it was a great deal of those 800 calls we had 300 people show up on auction day, of course the home sold but we also added new buyers to our buyers list.

Here are ways to advertise for those buyers:

o Bandit Signs

o CraigsList

o Backpage

o GoogleBase

o Postlets

o Zillow

o Pay Per Click Ads

o Local online Classifieds

o Media Website

o Flyers

o Newspaper/inserts

o REIA’s

o Direct mail/post cards

o Start an investors MeetUp group

o Email

o Phone

o Fax

o Your own website

Use your imagination, the list is limitless, there is a free e-book called the Internet Real Estate Yellow Pages that you can download for free at my site MagicBullets.com go grab that and you’ll find 100 more ideas and places to list your deals. Now go Be A Real Estate Heavyweight!

Dan Auito :~)

Immobilienmakler Heidelberg

Makler Heidelberg

How To Buy The Best Real Estate Property For Investment

Many people are looking to buy a real estate property. They can use this as an investment or as a place to build a house. In any case, it is important for anyone to realize the importance of some buying tips. This way, you can easily get the most value out of your purchase. Of course, if you want to invest on a property, you have to make sure it is problem free. On the other hand, you could also use the property to build a new house. Usually, people are buying real estate assets for the family. Therefore, it is best that you could choose one without problems. Here, we will give you a few tips on how you can select a good real estate property.

One thing that you need to consider is to find a good location. The location of the property spells its true value. The more accessible it is, the better is the price. However, the initial buying price could be big for you to avail. This is normal because you are just investing on an asset. In the long run, your property will be worth more than what you paid for. This means you could increase the value of your asset so you can have better return of investment. Initially, a person needs to render a big amount of money to buy a property. If the location undergoes development in a few years, then the buyer could increase the value of his asset. Then he could sell it at a much higher price. Only this way can profits be realized.

Aside from location, it is also good to check if the property has no legal obligations. One of the basic problems of property buyers is legal problems. A property may have come from a bad owner who did not pay the previous tax requirements. This can be a pain to the buyer especially if the amount is too much to pay. On the other hand, there could be some foreclosure problems if the property has a built structure. This is also a concern for any buyers because it requires being resolved first. Upon solving it, one can then ask for the price of the property if it is for sale.

One more thing that you need to do is to find a broker or agent. We all want to save money when buying properties. However, we can save time and effort if there is an agent. A real estate agent will know everything that needs to be done. He can handle the legal issues of the properties if there is a problem. He can also let you bargain for the price when you want to buy or sell a property. Moreover, he can monitor the prices of the real estate so you can have better decisions. There are so many agents that you can find. Online, you may find them from real estate websites or those freelancers. It is best that you contact any of these agents so you can buy your property today.

Immobilienmakler Heidelberg

Makler Heidelberg

6 Tips for Home Buying Right Now

1. Get pre-approved for a loan.

Most sellers require a pre-approval letter along with your written offer. You should have it ready to go so that when you find the right home there is no delay getting your offer submitted. There’s a lot of confusion about pre-approved vs. pre-qualified… even Realtors sometimes use the terms interchangeably! But the pre-approval is the real deal. With a pre-approval, the lender has run your credit, and you will usually have filled out a loan application and provided documentation to the lender, who will then tell you the amount for which you are approved. With the pre-qualification, you will typically have provided some information verbally to the lender about your credit, income and assets, and the lender will give you a ballpark amount for which you are likely to be approved. Sometimes a pre-qualification letter will be sufficient; the main thing is to talk to a lender before you start looking at homes.

2. Decide if short sales and bank-owned properties are for you.

Don’t waste your time looking at properties that don’t meet your home-buying needs. Each of these types of sales has its own challenges for the home buyer, so it is important to know the basics of each and decide if either one fits in with your game plan. For example, if you need to get into a new home within a fairly short time frame, a short sale may not work for you, as they frequently take many months to complete. And bank-owned properties are often in need of work, which can add to the overall cost, or make it difficult to get certain types of loans. If you can be patient with a short sale, or have the ability and/or resources to fix up a bank-owned home, these could be excellent avenues to explore. If not, tell your Realtor® to skip the short sales and bank-owned houses.

3. Check out neighborhoods ahead of time.

One of the best things you can do at the start of your home-buying project is to take a weekend or two and cruise around various areas and subdivisions, especially if you are new to the area. Tell your Realtor which neighborhoods hold the greatest appeal for you – it will really help her understand the type of home you want and your taste in houses. Some buyers are looking for newer homes in areas with lots of families and kids; others prefer the quieter, „mature“ neighborhoods. Fortunately, there’s something out there for everyone, and a real estate agent who has plenty of local area expertise and knowledge will be a huge help in finding those neighborhoods that are hidden gems.

4. Make time for house-hunting.

Don’t plan to only go to showings on the weekend – in this market that’s not a winning strategy. There is actually a shortage of well-priced homes in good condition, and the ones that are also in a desirable location sell almost immediately. If you’re serious about finding your dream home, clear the decks and be ready to jump when your Realtor tells you a new listing just hit the market that fits your requirements. And more importantly – be ready to make an offer if it is the right house. It could easily be gone in a day or two.

5. Don’t waste time on houses that are already sold!

Do you spend your spare time house-hunting on Zillow, Realtor.com or Trulia? Or driving around and calling about houses with signs out front? Then you’ve probably already learned that a huge number of those homes – which appear to be for sale – are not really available. They are very often „under contract“ which simply means that another buyer made an offer that was accepted by the seller. These often still show as available on the public real estate websites, but in most cases the sale will close in a few weeks. Work with a Realtor® who will set up a custom search for you so you can focus on just those homes that meet your criteria and are actually still available.

6. And of course, the most important thing is to find a really professional and client-oriented Realtor!

A great agent will make your home buying experience smoother and more enjoyable. Get referrals from friends or family who’ve recently had a good home-buying experience, or call or email a few local agents. See which ones are responsive and return your call or email right away, and get a feel for how professional and knowledgeable they are about the local area and current market conditions. Also check out their commitment to their clients in terms of training above and beyond that needed to get a real estate license. Realtors® who work diligently on behalf of their clients have often invested in advanced training and designations such as:

  • GRI – Graduate Realtor Institute, only 19% of Realtors®
  • ABR – Accredited Buyer Representative, only 15% of Realtors®
  • CRS – Certified Residential Specialist, only 10% of Realtors®

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We hope these tips are helpful, and wish you success in your house-hunting!

Immobilienmakler Heidelberg

Makler Heidelberg

How to Sell Your House Yourself Easily?

Selling the house put people in a dilemma whether they should hire a real estate agent or not? Well, if you are capable of selling your house on your own then why hire a real estate agent with whom you have to share your profit.

Usually, property owners are expected to pay 5% to 7% of the sale price to an agent. However, if you choose to sell your property yourself then you will not only be able to save on the real estate agent fees but also will get the freedom to sell your property in your own ways.

Before you move further to sell your house yourself, do consider the following discussed factors that will make your selling easy:

The location of the property is believed to be one of the crucial factors. Since no one can change the location of your home to take it to the more desirable place, thus, the price you expect should be realistic. You will get nothing if you offer a much higher price in comparison to the other properties that are being sold in the same area. Therefore, it is recommended to do proper research to find out what neighborhood properties have been selling for.

What is the status of the housing market like at the moment? Find out the worth of the property a few years ago and now? Considering the history of the property prices, it is important that you price your property in line as per the current market conditions.

Check out the condition of your property at present. Before you advertise your property for selling, it is good to allow a property inspector to visit and value your home. On sell your house yourself; you may not be able to see the little defects and repairs that a professional can observe.

In many cases, the reason for selling your house influences the decision of the buyers. So, you should be clear about your words that describe the reason.

Next, you need to think like a potential buyer. You simply cannot show your emotions to get in a selling way. If any corner of your house needs repairs or changes, then you should get it repaired or changed immediately. Prior to starting the process of selling your house, think from a buyer’s point of view.

Sell your property yourself can save you from long meetings with agents and their representatives. By listing it on a reliable listing portal, you will be able to reach millions of potential buyers, investors, and renters. Such a quick reach is not possible with the traditional methods of selling homes that include putting advertisements on newspapers, television, and handing out flyers. These property listing portals will make you connect with more and more people by putting your minimal efforts. Furthermore, the cost-effectiveness of the internet cannot be overemphasized as it allows you to create the perfect online presence with an affordable advertising budget.

There are various portals online that allow you to advertise your property without charging any commission or hidden costs. Among such options, choosing the best one is vital to get the quickest outcome of your property.

Immobilienmakler Heidelberg

Makler Heidelberg

EIFS – Synthetic Stucco Cost – Price – A Lucrative Investment

Whether you’re planning to renovate your house to increase curb appeal for potential buyers or live in your home for the rest of your life, renovating with synthetic stucco will give you the greatest ROI (return on investment) for your money. The aesthetic value of EIFS alone causes a home to stand out as a gem among it’s neighbors to create a lasting first impression. However, it doesn’t stop at first impressions, as a new siding on your house is ranked the top home renovation in terms of „Cost vs. Value“. If that wasn’t enough, any money not initially recovered via increased home valuation is made up by significant reductions in your heating and cooling bills, putting money back in your pocket for years to come.

The most obvious benefit of synthetic stucco is it’s beauty. No siding exists which can match it’s wide range of textures, colours and design options. From your charmingly basic EIFS with flat trim, right through to the dentil’d cornices, columns, pilasters, keystones, flowers and elaborate moldings of multi-million dollar homes clad in synthetic stucco. This „aesthetic value,“ although difficult to translate into actual dollars, is invaluable in it’s ability to bolster that all-important „first impression“ of your house and make it stand out to potential buyers. This curb appeal is not only for potential buyers however; home owners with recently finished EIFS happily recount (with a big smile) instances of hitherto unseen neighbors stopping by their house to pay them a compliment, express their envy and seek a referral.

From your charmingly basic EIFS with flat trim, right through to … multi-million dollar homes clad in synthetic stucco.

Many factors of EIFS (such as aesthetic value and being safe from mold) cannot be measured in dollar value, but there is a direct cost vs. value according to Remodeling Magazine’s 2007 „Cost vs. Value Report.“ In this highly-regarded report detailing costs of various home remodeling projects and their return on investment at resale time, fiber-cement siding (like EIFS) come in at the (not surprising) number one position, with an astounding return of 88.1%. This means that on a $15,000.00 EIFS renovation, your home’s value increases immediately by $13,215.00 vs. $9,900.00 for a comparable $15,000.00 bathroom addition (66.0% cost recoup). In reality, a synthetic stucco renovation blows others out of the water in terms of value because…

This means that on a $15,000.00 EIFS renovation, your home’s value increases immediately by $13,215.00 vs. $9,900.00 for a comparable $15,000.00 bathroom addition

Adding EIFS to your home results in significant energy savings. Home owners typically report a 25%-40% reduction in their energy bills due to the higher insulation value of their walls. The method by which synthetic stucco reduces heat loss/gain is 2 fold. Primarily, it’s insulation prevents heat penetration through walls, and secondarily, acts as an air barrier — preventing air flow and therefore heat transfer. This means that less heat is lost during the cold season, and less heat penetrates into your home during the warm season — a double benefit for those living in Canada and the upper states. Looking at a typical annual heating/cooling bill of around $2,500.00 and a minimum of 25% reduction, the average home owner can expect to get back $625.00 every year. Again looking at our $15,000.00 EIFS renovation and subtracting the increase in home valuation ($13,215.00), it has only cost $1,785.00. At a rate of $625.00 per year in energy savings, you are „out of the red“ in only 3 years ([3 * $625.00 = $1,875.00] – $1,785.00 = $90.00.)

Looking at a typical annual heating/cooling bill of around $2,500.00 and a minimum 25% reduction, the average home owner can expect to get back $625.00 every year.

Whether planning to renovate with EIFS to attract home buyers or simply to intelligently invest in your greatest asset, you can rest assured you’re making the right choice. After having fully paid off your investment in 3 years, you’ll have an asset which generates approximate 4.2% ($625.00 / $15,000.00) ROI for a 25% reduction in heating/cooling costs, and 6.7% ($1,000.00 / $15,000.00) for a 40% reduction (after 2 years). This energy saving is a huge plus for home buyers, who are also increasingly becoming environmentally conscientious and will adore the freshly renovated exterior of your home.

Immobilienmakler Heidelberg

Makler Heidelberg

Overcoming the 3 Worst Fears of Writing Contracts in Real Estate Investing

Contract writing is a paralyzing fear in real estate investing for investors who are buying or selling properties. The usual thought is that if the investor omits something very important, the deal will be lost, may be liable for huge sums of money if the contract doesn’t work, or he will be doing something illegal and not even know it.

Overcoming these fears is easy to achieve but must be worked on in their order of importance to the investor, which can be done in minutes or hours. The result will be a rewarding and long career in real estate investing. The following are ways to help overcome these nagging fears for real estate investors.

1. The fear of omitting something very important in the contract.

Real estate contracting is as ancient as writing and each state has set some standards or the realtors in that state have set contract standards which they use to write both purchase and sale agreements.

An investor can get contracting online, at a local office store or even from a real estate investing guru. It is strongly suggested that you use only contracting approved by your state’s BAR (attorneys association) or your local BOR (Board of Realtors). Generally using the store bought or guru contracts won’t open you to too much liability, but they can have major problems that aren’t obvious until you lose a great deal.

Particularly, guru contracts are sold as protecting the investor and often have separate buy and sell contracts. If these contracts are sent to the seller’s attorney for review, they could lose your deal because they are so onerous. You are better off to control the contract that is standard in your state using clauses or addendums that favor your position.

2. The fear of huge liability if the contract is done improperly.

Unless otherwise stated in the contract, when you are a buyer, your liability is limited to your deposit amount. If you haven’t given a deposit yet, your contract may not be valid in the first place, so always give the minimum deposit the seller will accept. While it is impressive to other investors give to $1 or $10, if you are in competition with another investor who is offering $100, you could lose the deal.

Always put in a clause that your escrow deposit is not due until your inspection period is over and ask for as long an inspection period as possible – with homeowners I ask for and receive 20 to 30 days. This longer inspection period allows me more time to sell the property. You may not be able to use your buyers‘ funds to close if he is getting a conventional loan to purchase the property – this is illegal flipping if the closing is not done properly. There are various ways to close the transaction using a cash buyer’s funds.

If you are selling a property, your liability is more extensive because you can face a lawsuit called a „Breach of Contract“. This lawsuit claims that the buyer had a valid contract with you and for whatever reason; you decided not to sell it to him. The simplest way to overcome this potential problem is to have an attorney review your contract and have clauses that protect the closing date, such as, the buyer will have to close on or before a specific date“. If the buyer doesn’t, you have a breach of contract by the buyer but your cure is to the limit of his deposit unless you incurred an additional financial loss in the transaction that didn’t close. Always get as large a deposit from a buyer as possible, usually at least 3% to 5% or a minimum of $2,000.

3. The fear of doing something illegal and not knowing it.

This can be a well founded fear for newbies. It is best resolved by having an attorney, not another investor, review what you are doing. The benefit to the attorney is that you will put him in as the closing agent. He likely will write the contract for you but this can be burdensome if you are meeting with a buyer or seller and you want to close the deal. Always use an attorney who does real estate closings as his main course of business, not a general practitioner. You will discover that while every deal varies slightly, the actual amount of contract clauses that vary from contract to contract are very small.

In summary, your ability to write purchase and sale agreements is very powerful and must be mastered. This first requires you read and understand a standard contract for your state and local municipalities if they are also required. You do not need a realtor to write a contract and it is not illegal for you to write a contract despite what many realtors may tell you. Always have an attorney review what you are doing and pay him by making him the closing agent on the transaction if possible. If the opposing party to the contract is choosing the closing agent, have him shadow the deal and explain that you will use him on the next contract where you control choosing the closing agent.

Immobilienmakler Heidelberg

Makler Heidelberg

Some Pros and Cons With Bull Terrier Puppies

Overall, I think bull terriers are an exceptionally good breed – they are smart and loyal and friendly – still, it is always a good idea to consider every aspect of a breed when considering getting a dog. Some dogs are good choices for small living spaces while others are definitely not. Some dogs are very docile and mellow while others are just buzzing with energy and the need to be active. All of these things and more need to be considered when thinking about getting a dog. Here are some pros and cons to a fairly popular breed, the English Bull Terrier.

On the plus side, bull terrier puppies are loyal and friendly with people. That makes them a good choice for a busy, more public lifestyle. The pups also tend to be extremely good with children so they are a good choice for families with small children. These little dogs are also very intelligent. This intelligence, coupled with their love of people, make them very easy to train, thus making them a good choice for a person new to dog ownership. Other characteristics that I consider very positive are that they are short-haired and do not shed very much – this makes for a dog who is easy to groom and take care of. And, let’s face it, not everyone who wants a dog has the time to brush it three or four times a day as is required for longer haired dogs.

On the other hand, puppies of this breed do have some potential challenges. These are not things that make it a „bad breed“, I don’t believe any animal is bad. These are just things you need to keep in mind and prepare for if you choose a bull terrier for sale for your next dog.

These puppies do not tolerate isolation very well. Being left alone too long can lead them to destroy things by chewing. They are also too short-haired to tolerate too much cold weather so, if you live in a cold climate with a bull terrier, you probably want to keep doggie sweaters on hand for it. Probably the biggest concerns with this breed are the fact that they can be chasers, meaning that they might chase and accidentally hurt smaller critters that look like prey to them. They might also be runners, meaning that they may chase after something that catches their scent and they might show affection by nibbling on your hands. Not to worry though, it is very easy to teach them good manners and appropriate behavior. Besides, every single dog breed in the world has pros and cons, bull terriers are no exception.

Immobilienmakler Heidelberg

Makler Heidelberg

Tips for Getting New Clients As a Realtor

Admit it or not, finding clients on the vast real estate market is very challenging. It is challenged by the existence of big real estate firms which employ hundreds of experienced real estate agents on their teams. If you are a newbie, you could easily be swallowed by the efforts exerted by the established firms. But have you ever think that they also started out as rookies in the field? If you are in this situation, here are some tips to at least give you a leverage on finding the right clients for you.

Create your own circle of offline connections and influences. As much as the online world is essential to widen your connections, the offline connections and influences is equally essential. Start with your family and friends. Then add your past classmates even those from your elementary days whom you still remember. Your teachers can be great additions. Move on to those whom you are tapping services as professionals such as your doctors, dentists, hair stylists, pet groomers and fitness coaches. The parents of your children’s classmates and friends can also expand your offline connections. If you have business contacts, add them as well. Don’t forget your neighbors. They can be great sources of referrals.

Build a better online network of friends. Through social media, you, as a real estate agent is bestowed greater power to enhance online connections. Your network can be a greater web of interconnected persons starting with your family members down to their own friends, acquaintances, friend of friends, and so on. Before you notice it, your network has expanded to include professionals of diverse titles not only in your locality but also in adjacent towns and nearby cities. If you think they are not relevant, you may be wrong with the impression. Anyone in your online network of friends can always be a great source of referral even those who you seldom see to be adding activities in their social media accounts.

Send mailers, both online and offline. Now that you have established both your online and offline connections, it is time to introduce yourself as the rookie real estate agent. For offline mailers, be sure to have a formal tone. Give your full name, license number, the firm you are connected too, its address, and contact numbers of you and the firm. Inform them of the services you are offering.

For online mailers, the same can be followed. But since it is an electronic form, you may want to add some enhanced graphics and video.

Create your own website. For personal branding, having an own website is an essential. This is where you can provide listings, value added services, frequently asked questions, and even informational articles that can help spark the interest of your potential clients. Support it with a blog, and connect it with your social media accounts in different real estate online platforms.

Immobilienmakler Heidelberg

Makler Heidelberg