As a prerequisite to selling real estate, a person must be licensed by the state in which they work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations and experience, which are determined on a state by state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®, the world’s largest professional trade association. They can then call themselves REALTORS® in Valley Oak Stockton, CA.
How to Choose the Best Filipino REALTOR® in Valley Oak Stockton, CA?
Using a Filipino Agent and the Obligations that are Owed to You
An agent is bound by certain legal obligations. Traditionally, these common-law obligations are to: Put the client’s interests above anyone else’s; Keep the client’s information confidential; Obey the client’s lawful instructions; Report to the client anything that would be useful; and Account to the client for any money involved.
It is easy to get a List of Stockton Filipino Realtors by searching online. A simple search with the keyword, “Filipino Realtors in Valley Oak Stockton, CA” will produce multiple results giving you a list of Brokers, Realtors, and Real Estate Agents.
A Filipino speaking REALTOR® in Valley Oak Stockton, CA is held to an even higher standard of conduct under the NAR’s Code of Ethics. In recent years, state laws have been passed setting up various duties for different types of agents. As you start working with a REALTOR®, ask for a clear explanation of your state’s current regulations, so that you will know where you stand on these important matters.
How to Evaluate an Agent
In making your decision to work with an agent, there are certain questions you should ask when evaluating a potential Stockton Real Estate Agent. The first question you should ask is whether the agent is a REALTOR®.
As a consumer, you end up registering on various real estate search sites and getting tons of emails and reports . You may find yourself asking, how can I know which Asian Realtor to work with and help me navigate through the home buying process in Valley Oak Stockton, CA? The following are some tips we suggest:
- You want to see a house when you want to see houses. Agents who are solo may say to you, “I’m not available. How about next week?” Find a Realtor that will be available to accommodate your schedule with reasonable notice.
- Local Market Knowledge. During your first conversation with the agent, ask questions about neighborhoods, schools, trains and other commuting info, specifics that you are interested in knowing about. You’ll know in 2 seconds whether the agent you are speaking with is the local market expert and can help you with all of your options.
- What are you looking for in a Filipino Realtor? Find Realtors who will be your advocates. Their job is to help you get what you want. Real estate agents are your consultants, your strategists, and your advisors. They should tell you the truth and will always provide you with enough information so that you can make an informed decision about your home purchase.
- More Tips. Ask the Realtor you are interviewing how proactive they will be in finding you a home. For example, find out if they have a marketing staff that has the resources to find homes for buyers before they hit the market. See if they take a pro-active approach instead of just waiting for new listings to appear in the MLS.
You need to trust a Filipino Realtor in Valley Oak Stockton, CA who will do everything possible to get the word out and fight for your best interests. Good work experience, a web presence, and a great network should be standard. With sites such as Zillow.com where you can easily find properties for sale and check out their estimated values and the agent’s own network, it’s easier than ever before to sell your property. The listing agent’s main responsibility is to get the word out and show the house.
What Is The Process Of Buying A California Home?
The California Real Estate market is one of the fastest paced and vibrant in the world. Nowhere else is property traded so fiercely and competitively and at such high stakes as in this state.
A recent report on the number of house sales in California, which was released in December of 2007, showed that more than 25,000 condo units and houses-both brand new and resale-changed hands in that month. As impressive as that figure is, it was in fact virtually unchanged from the house sales figure in November, and is actually down more than 40% from November of 2006, when house sales registered at 43,400. Records show that there has been a steady decline in house sales over the past 27 months, and that December's sales were the lowest for that particular month ever since records were first kept in 1988.
Median prices for houses also went down almost 3%-or to just over $400,000 in December-from about $412,000 in November. This price represents an almost 15% decline from December of 2006, when the median price of houses was about $472,000. The peak in median house prices was reached in the period of March to May last year, when the price of houses averaged around $484,000.
We mentioned earlier that foreclosure activity is on the rise, and indeed during the last quarter of 2007, mortgage default notices were at its highest level in 15 years. Much of this increase in foreclosed properties goes hand in hand with depreciation of home values. Many homeowners have suddenly found themselves in a position wherein they owe more on the mortgage than what the property is actually worth on the market. A large number of those who have been forced into foreclosure may have felt the pressure of high mortgage rates, the loss of income or even the need to move to another state.
One factor that can explain this phenomenon is the decline in median house prices from a high of $484,000 in March of 2007 to just slightly above $400,000 in the latter part of the year. Although this decline was perhaps partially caused by the shift in the type of houses that were sold, this would have undoubtedly still had a significant role to play in the increase of the number of homeowners who were forced to default on their mortgage loans.
Los Angeles California Real Estate - Sell My Home or Buy Now?
Should you, as a homeowner, looking to sell your home, consider selling the property yourself or take the conventional route and engage a Realtor? That is the preverbal $64,000 question - or if you use the national average sale price of existing homes of $268,000 - the $16,000 question. Based on pure value, this is a question that really should at least merit consideration.
Obviously For Sale by Owner (FSBO) is not for everyone. I really don't know why that statement has to be made - NOTHING (with the exception of air and water) is for everyone. Now back to the point at hand.
Why should you consider FSBO:
First and foremost - you save money - simple statement to make. How do you save money? You don't pay the typical 6% real estate commission associated with a real estate brokered listing and sale. This isn't just any money - it is your tax free (usually) home equity. Money that you have ultimately earned either through appreciation, home improvement, sweat equity or savvy real estate investment. Anyway you slice it, it's YOUR money. It is often said buying a home is the single most important and largest purchase of an individual's life. Does it not stand to reason that selling a home represents the single most important "Sale" of an individual's life? The National Association of Realtors will tell you that FSBO homes sell for 16% less then Realtor sales. The problem with their calculations is they use a flawed formula to support their argument - they use a MEDIAN price as opposed to an AVERAGE price. The median is a "middle number" in a series of numbers - the average is a sum of all numbers divided by the total number - which is what as a homeowner cares about.
Another consideration is that an FSBO can take all or part of the real estate commission savings and deduct it from the price of their home to expedite a sale. This works great in a "soft" market or if you simply have to sell your home in a limited amount of time. Consider this example (I have used this unlikely scenario purely to make my point). You own a 1300 Sq ft - 2 bedroom/2 bathroom condo. Your adjacent neighbor has the exact same unit with the same level of finish and has listed it with a Realtor for $485,000. Calculate the 6% real estate commission in to the equation and best case your neighbor walks away with $455,900 - that leaves you with $29,100 to negotiate. If I'm a buyer and I see the exact same condo next door for $30K less I can tell you which one I am buying!!! To be honest, I'm going to buy it if I can save ANYTHING! This works very well if you bought in a strong real estate market and the market has now softened to the point that you actually paid more then you can sell it for. Selling FSBO may allow you to at least keep your head above water - remember we are talking 6% of the value of your property.
You do not possess any sales or marketing skills. I know it's not easy to admit, but if you are an introvert - forget it. Most successful Realtors are extroverts and spend countless hours attending social functions, clubs, associations, golf courses (sorry had to throw that in) to generate leads and contacts. They have usually taken countless sales training courses and most importantly, they know how to close a deal.
Multiple Listing Service (MLS) - this in my opinion is the single most important advantage that Realtors have over FSBO. The MLS is made up over approximately 500 individually owned and operated MLS organizations. It is essentially a nationwide repository of existing properties available for sale. It provides both realtors and buyers alike an opportunity to locate properties using a number of search criteria including, but not limited to, geographic location, size, price, bedrooms, bathrooms etc. There are two factors to consider here - one - you can buy a Flat Rate MLS at either a national or county level and take advantage of the marketing exposure that MLS provides - it will cost you in the range of $299 - $599 and an agreement to pay 2 - 3% to a selling agent if a Realtor sells your home. You do however maintain the right to sell your property yourself without paying a commission fee. As far as "quality" of exposure goes, I truly believe that an online FSBO listing is superior (in appearance and functionality) to an MLS or realtor listing. That said, no FSBO website enjoys the level of traffic and potential buyers offered by Realtor.com.
In conclusion, obviously undertaking a successful For Sale by Owner is not for everyone - we can all agree on that statement. Is it worth a try - definitely!