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 Stockton, CA.
How to Choose the Best Filipino REALTOR® in 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 Stockton” will produce multiple results giving you a list of Brokers, Realtors, and Real Estate Agents.
A Filipino speaking REALTOR® in Stockton 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 Stockton? 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 Stockton 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 Are Ways To Sell Your California Home?
The biggest issue many homeowners face when listing their house for sale is the price. You want to get the most you can, but be careful when it comes to pricing it to high.
Listing Your Property With To High of a Price
For no particular reason, you have picked up the itch to sell your house. Maybe there are developments in your area that have caused massive appreciation and you simply want to cash out while the going is good. Maybe you just are interested to see what someone will pay.
In making the decision to sell, you do the research to find out what comparable homes in the area are selling for and how long it takes them to sell. You decide to list your property at the top of the market because you have serious upgrades and the research shows comparable homes are moving pretty quickly. While you may be willing to wait a bit for an offer, you run a risk of sabotaging yourself.
Time is a two way street in the real estate industry. While you are probably not particularly interested in waiting a long time to move the property, buyers are considering time as well. Specifically, they are wondering why so much time has passed since your home was first listed. Is it an indication that there is something wrong with the property? Many potential buyers will start to think so. If you price the property at the top of the comparable market, you run this risk and selling becomes very difficult.
One justification many sellers make for picking a high price are upgrades done to the property. In many scenarios, this is logical and makes practical sense. That being said, you may be in for a nasty surprise. Most buyers prefer to make the upgrades themselves, not pay a premium for what you have done. Ultimately, this means the higher price may find little interest because the value of the upgrades is ignored by the potential buyers. This can also lead to the frustrating situation wherein you realize you spent more money on upgrades than you will ever get out of the property. Ouch.
The final risk associated with pricing your property at the top of the market is the potential it will be ignored. The general rule in real estate for buyers is to purchase the lowest priced home in an area and then fix it up. With minor changes, appreciation gains can be significant. If your home is already at the top of the market, a buyer really cannot do this and will actually have to wait for other properties in the area to appreciate. Savvy or even moderately knowledgeable buyers will not take the bait.
Pricing your property for sale is a trick issue. Figure out your market and make your own conclusions. To maximize profit, it is best to be in the middle of the market, but always below other homes that are superior to your property.
How Do I Sell My California House for More Than Its Worth?
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.