Posts Tagged ‘Buyers’
May 16, 2011
When searching for a location for your business, one of the most viable options is a commercial lease. Rather than having to pay financing on a purchased property, a lease allows you access to a space, so that you can immediately begin doing business. The type of lease you choose could greatly affect your business in the future, though.
There are several different types of commercial real estate leases available: Net lease, modified net lease, and gross lease otherwise known as a full service lease. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Coldwell Banker Commercial Metro Brokers, commercial lease, Commercial Real Estate, commercial real estate agent, Dan Hinson, full service lease, georgia, gross lease, Metro Brokers, modified net lease, net lease, Real Estate, real estate agent, Tips
Posted in Agents, Buyers, Sellers | Comments Off
April 18, 2011
I attended a real estate technology conference recently and sat in on a presentation about mobile real estate tools and resources by Chris Smith from Tech Savvy Agent. He shared several really good apps that can help sales associates streamline their business.
Here’s a few of the apps that I thought you’d find most helpful. Leave a comment and let me know which apps help you be a more efficient real estate agent. (more…)
Tags:android, apps, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Blackberry, Buyers, georgia, iPad, iPhone, Metro Brokers, mobile apps, Real Estate, real estate agent, Realtor, seller, Tisha Gay
Posted in Agents, Buyers, Sellers | 8 Comments »
January 4, 2011
Have you ever driven by a property for sale and seen multiple “rider” attachments to the FOR SALE sign? Sometimes there are so many, they drag on the ground.
There may be a rider for the agent’s OTHER phone number, a rider for a special web site set up for the property, a rider that says, “Reduced”, one that says, “Must See Inside” and any number of other quick little messages to tempt potential buyers inside.
Over the years, I’ve compiled my own interpretations of what these various sign riders really mean when you decode the “agent-ese”. Here are some of mine, and feel free to add yours to the list: (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, georgia, listing, marketing, Metro Brokers, Real Estate, real estate agent, real estate sign, Realtor, seller, Sellers, sign rider
Posted in Agents, Buyers, Sellers | 7 Comments »
December 27, 2010
When you rent office space, there are many things to consider and several key questions to ask before you sign the commercial lease. Each lease agreement is different and you’ll want your commercial Realtor to help you negotiate lease terms that could protect you in the future.
How long do I plan to be in the space?
Estimate how long your business can operate effectively in the space you want to lease. Do you need a short-term or long-term lease? Do you want specific renewal option periods? (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Coldwell Banker Commercial Metro Brokers, commercial lease, commercial listings, commercial property, Commercial Real Estate, Dan Hinson, georgia, landlord, Metro Brokers, Metro Brokers Financial, Real Estate, real estate agent, Realtor, retail locations, retail space, sublease
Posted in Agents, Buyers, Uncategorized | 2 Comments »
December 20, 2010
Realtors love showing homes on bright sunny days. Even not-so-beautiful properties seem to look better with the sun shining and the birds are tweeting. Dirty windows don’t block too much light and if the seller forgot to open the drapes all the way, that’s OK.
Homebuyers also seem to prefer looking at homes when the weather is nice. And home inspectors REALLY like to do their jobs when the weather is nice.
Boy, oh, boy, though, let the rain clouds move in and things can look very different. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, georgia, Metro Brokers, rain, rainy day, Real Estate, real estate agent, Realtor, showing homes
Posted in Agents, Buyers | 6 Comments »
November 29, 2010
Purchasing an existing business usually costs more, but can greatly reduce the odds of failing. If you decide to search for an existing business, you’ll need to prepare for careful analysis. Your decision making process needs to be highly analytical and free of emotions. When properly completed, a business analysis will reveal the truth and make the decision to purchase or walk away clear and straightforward.
You may want to seek the assistance of a qualified Business Broker to assist with the business search and purchase, or you can elect to complete the process on your own. Regardless of how you proceed, it is imperative that you demand sufficient information from the Seller and obtain sound legal and accounting advice prior to making a final purchasing decision.
You want to fully understand what the Seller does each day and be certain that you can achieve the same results. Question whether or not the customer base is tied directly to the Seller and the impact the sale will have on the customers. Refuse to accept information that is not validated by business tax returns. Sellers can manipulate income statements, but not tax returns. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business broker, business brokerage, Buyers, Commercial Real Estate, Dan Hinson, franchise, franchisee, georgia, Metro Brokers, profitability, Real Estate, real estate agent, Realtor, success
Posted in Agents, Buyers | 1 Comment »
November 22, 2010
Owning and operating a business is a great way to take control of your future. Once you have decided to be your own boss, you have to consider whether you want to buy a business that is up and running (a growing concern) or start a business from the ground up (a start-up). Each of the options has advantages and disadvantages. You will also want to consider whether or not you want to own an independent or franchise business.
If you want to build a business from the ground up – otherwise known as a start-up – you’ll need a comprehensive business plan. Your business plan will need to include the means by which you will get customers (a marketing strategy) and how the business will operate on a day-to-day basis. It will estimate the expenses required to build out space and install required furniture, fixtures and equipment. You’ll also want to include sales projections (a Performa) and expenses required to support sales. Here are some other things to include in your business plan: (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business brokerage, Buyers, Coldwell Banker Commercial Metro Brokers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, Realtor, starting a business
Posted in Agents, Buyers | 3 Comments »
November 8, 2010
I saw an article published by RISMedia (Real Estate Information Systems) last week which made me pause. It concerned the necessity and advisability of disclosing the dollar amounts of all liens filed on a listed property if those liens “may make it difficult to close escrow on a property or impede the transfer of free and clear title”.
The “necessity and advisability” comes as a result of a lawsuit in California (where else?), Holmes v. Summers (October, 2010) in which a court ruled that the Listing Broker could be liable and responsible for costs and damages incurred by a buyer in a failed deal when the existing liens on the property exceeded the sales price. The logic seems to be that buyers who spend money on inspections, appraisal and any other due diligence activity are damaged if the Listing Brokers fail to disclose that the property seller is “upside down”, “underwater” or other euphemisms for in a bad financial position and the sale fails to close because of the seller’s bad financial position. That makes sense to me. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, California lawsuit, Foreclosures, georgia, Holmes v. Summers, Metro Brokers, mortgage lien, mortgages, Real Estate, real estate agent, Realtor, rismedia, seller, short sales, tax lien
Posted in Agents, Buyers, Sellers | 4 Comments »
October 25, 2010
Now is a great time to expand your business due to low prices and high inventory, but there are many factors that must be carefully considered prior to selecting a new retail location.
First, the amount of space that will be required and the build-out necessary to do business must be determined. The immediate need for space may change significantly in the first five years and could make business growth difficult.
Next, consideration must be given to neighboring businesses, so that customers for one are candidates for the other. For instance, you wouldn’t want to put your new restaurant right next to a mechanic. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, retail locations
Posted in Agents, Buyers | 6 Comments »
October 18, 2010
Phones are ringing and emails loaded with links are flying! What does the latest foreclosure debacle, the fact that errors or omissions have been/are being discovered in previous residential foreclosures mean to homeowners being threatened with foreclosure, to bank sellers who have already foreclosed, to potential buyers, to mortgage lenders and to real estate professionals?
Many, many residential mortgages have not been retained and serviced by the lender who initially made the loan. Over the years, most mortgage debt instruments (mortgages, for short) have been sold, resold and resold again on the secondary financial market. Homeowners routinely received notices that their mortgage had been sold and that “the new mortgage servicing company is (insert name of new mortgage company here).” Payments were dutifully sent to the new company until the next notice arrived. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, clouded title, Foreclosures, georgia, listing, Metro Brokers, Real Estate, real estate agent, Realtor, title insurance
Posted in Agents, Buyers, Uncategorized | 5 Comments »
September 27, 2010
Condo Ownership is the perfect lifestyle for some, but not for others. If you’re thinking of buying a condominium, you must do your due diligence regarding the Condo CCR’s (Covenants, Conditions and Restrictions). Also important is the financial stability of the Condominium (Budget and amount in Reserve Account).
“Condominium” is a form of ownership, not a physical description. In Georgia, stacked flats, mid-rises and high-rises are almost always condominiums. However, town homes can be fee simple ownership or condominium ownership. In condominium ownership, the unit owner owns everything from the sheetrock in as well as from the floors up to the ceiling. The outer walls and roofs are commonly owned by and maintained by the HOA. The land is also commonly owned and maintained by the HOA. There have been cases where a contract is written up as fee simple, and at the last minute the closing attorney’s title report shows it as a condo, and the entire loan has to be redone, causing a long delay in the closing. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, CCR's, condo, condo ownership, condominium, covenants, down payment, fee simple ownership, FHA, first time homebuyers, georgia, high-rises, hoa, home ownership, homeowners association, insurance policy, Metro Brokers, mid-rises, mortgages, Real Estate, real estate agent, stacked flats
Posted in Agents, Buyers | 10 Comments »
September 20, 2010
My second “Closing Killers” story is about buyers relocating from Idaho who expose their closing to one of the Closing Killer gang leaders: “Opening New Credit”!
Sam and Sue Spud had found a peach of a deal in Peachtree City. This foreclosed home was perfect. It had taken the Bank seller over 7 weeks to respond to their offer. They were finally under contract and heading for closing. If they missed the original closing date, they would have to pay the seller $100 per day to extend the closing date. Their loan application had been in process for over 3 weeks… everything looked “fine”.
Their agent and loan officer had told them not to make any changes to their credit or finances until after closing. (more…)
Tags:atlanta, atlanta real estate, Buyers, closing, closing killer, credit score, FHA, georgia, GFE, good faith estimate, HERA, HUD, Judy Jones, Metro Brokers, Metro Brokers Financial, mortgages, opening new credit, Peachtree City, pre-clising verification, Real Estate, underwriting, undisclosed debt
Posted in Agents, Buyers | 4 Comments »
September 13, 2010
Homebuyers are always asking me to find them a “great deal”. Today’s market makes that easier in some respects (prices are depressed and mortgage rates at a lifetime low) and tougher in some respects (there is SO much inventory to look at). Inevitably, though, the buyer’s definition of a “great deal” involves much, much more than just the price of the home. Here are some examples of truly GREAT DEALS:
Example 1
A young first-time buyer tried his best, but was declined by the mortgage lender for the financing he needed. He had a 5% down payment, but the lender wouldn’t lend him more than 90% of the home’s value. Fighting tears, he told me he was so embarrassed not to be able to complete the purchase. I asked the seller if he would be able to hold a note for the missing 5% for a year or two until the buyer could arrange other financing. He was happy to, since he could receive interest income on the note and hold a security interest in the property. The fact that the seller also respected the young man for his honesty and integrity probably played a part, too. This was a GREAT DEAL because of the financing terms. (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, down payment, emotional attachment, frank sinatra, georgia, great deal, listing, low interest rates, low prices, Metro Brokers, mortgages, Real Estate, real estate agent, timing
Posted in Agents, Buyers, Uncategorized | 3 Comments »
August 30, 2010
Homebuyers who are taking advantage of the great home values and historically low interest rates are finding the mortgage qualifying process much harder than ever before.
I’ve put together several stories based on real buyers from recent deals that were almost killed by the top “Closing Killers” in the market today. The names have been changed to protect the innocent.
Our first story is about a first time homebuyer couple who barely escaped the sneaky Closing Killer, “Unexplained Deposits” who is part of the Closing Killer gang led by “Opening New Credit”!
Harry and Sally were buying their first home. The house had originally sold for over $250,000. Harry and Sally were able to secure a signed contract for $134,500 with the seller paying all closing costs. They had applied for an FHA 30-year fixed rate loan, putting down only 3.5%. They only needed $4,700 for down payment and 2 months reserves of the PITI (principal, interest, taxes and insurance) payment to qualify for the loan. When they finally sent their current monthly bank statement to the mortgage processor, it showed a current balance of $16,000! Much more than what they needed to close! But wait… did this bank statement reveal a possible Closing Killer: Unexplained Deposits”? YES! (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, closing, debt, Fannie Mae, FHA, Freddie Mac, georgia, Metro Brokers, Metro Brokers Financial, mortgages, Real Estate, real estate agent, VA
Posted in Agents, Buyers, Sellers, Uncategorized | 9 Comments »
August 23, 2010
If I am considering purchasing real estate, what are the pros and cons of selecting one agent to work with exclusively? Why not “play the field” and contact several (or even lots of) agents and have all of them scouting properties and deals for me? Why not just look around on my own? After all, I know what I’m looking for, right?
Let’s cut to the perceived “cons” of signing a Buyer Brokerage Agreement first, since they may seem obvious to most potential buyers:
- “If I can strike a deal working with the listing agent only, won’t I be able to save money since the seller won’t be paying a selling commission?”
- “If I have several non-exclusive agents out looking at deals for me, won’t I get more good properties to consider? And only the agent who brings the best property to me will be paid; that’s fair, right?”
- “I would be promising to ONLY look at properties with my exclusive agent. What if he/she isn’t available when I want to look?”
Will I really save money by dealing directly with the seller’s listing agent? Overwhelmingly, no. That listing agent realizes that he/she will earn every penny of both the listing AND selling commission since they will be solely responsible for seeing the entire deal through to closing. And I have absolutely no power or standing whatsoever to renegotiate the commission agreement already signed between the listing broker and the seller since I am not a party to that agreement. It’s none of my business and some listing agents may even tell me so. Unrepresented buyers like me, in addition to needing much more “hand-holding” than I ever believe I actually will, are also placing ourselves in a position of “spilling our guts” to the listing agent, only to find out later that the listing agent MUST report any pertinent information to his/her CLIENT, the seller. What I say can and will be used against me during the negotiations and at the closing table. Ouch! (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, buyer brokerage agreement, buyer's agent, Buyers, georgia, Metro Brokers, Real Estate, real estate agent, Realtor, Tips
Posted in Agents, Buyers, Uncategorized | 13 Comments »
When searching for a location for your business, one of the most viable options is a commercial lease. Rather than having to pay financing on a purchased property, a lease allows you access to a space, so that you can immediately begin doing business. The type of lease you choose could greatly affect your business in the future, though.
