Entries from Searchlight Crusade tagged with 'strategy'

What Do Buyer's Agents Do?

Got this search: "should I get a buyer's agent if I've already found a house" The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is what I do for...

Listing Agents Claiming There Are Multiple Offers

Once upon a time, this was a good way to get more money for your listing. This led to a classic tragedy of the commons. Because it didn't take hardly any extra time, and there was no reason not to...

Buyer's Markets

One of the phenomena that I have encountered is fear of the market in buyers. They are concerned if prices are falling, and that they will lose some or all of their investment if they buy. Well, the first...

Buyers: Stretching Your Budget Means Compromise

As a good buyer's agent, I love a challenge. When someone comes to me trying to make a budget stretch just a little bit further than it would usually go, that's the kind of client I love to have....

Top Twelve Things That Help You Buy Property At A Bargain Price

Quite a while ago, I wrote Top Ten Reasons You Bought The Wrong House and Top Ten Reasons Your Home Isn't Selling. In that vein, I'm going to write a list of the most important things when you're shopping for...

Online Real Estate Photographs - You Have Heard of Photoshop?

When Israel invaded southern Lebanon a few years ago, this picture from Reuters ran worldwide The problem was that it was heavily photoshopped by a Palestinian stringer trying to make it appear like the Israelis were setting the entire...

Considering Condos, Townhomes, and PUDs

The vast majority of the population out there wants single family detached housing. The virtues and benefits of the single family residence have been extolled ad nauseum, and the drawbacks of the alternatives are the stuff of urban legend. Unfortunately,...

Lipstick on a Pig: Selling the Property You Should Never Have Bought

Lots of properties have some kind of problem with them. Maybe you bought in full recognizance because of something else about the property, but probably not. Mostly it's directly a result of not spending the effort to find a good...

Properties With Accepted Contracts Aren't Available

This is one of the hardest things to get across to many people - agents included. A property with a fully negotiated purchase contract is not one that someone else can buy. They have a legal agreement binding them to...

Buyer's Basic Guide to The Foreclosure Process and REOs

I've written articles on when you can't make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented....

Why Do I Want A Buyer's Agent?

Got this search: "should I get a buyer's agent if I've already found a house" The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is most of what I...

How to Effectively Shop For A Listing Agent (Part II)

Continued from Part I Interview lots of agents. Once again, my experience is that the agents at small independent brokerages tend to be sharper than the ones at large chains, but that's only true in the aggregate, and the large...

How to Effectively Shop For A Listing Agent (Part I)

This is the final article in this series, and the most difficult. The reason is very simple: Unlike shopping for buyer's agents or shopping for loans, you have to make a binding choice - it is in your best interest...

How to Succeed at Low Balling on Real Estate

A while ago now, I spent several hours showing properties I had found to a couple of investors. One was a lender owned fixer, fairly priced at $440k. It needed carpet, paint, landscaping, and some facade work. The last comparable...

Should You Pay Off Your Mortgage Faster?

I have to admit to being conflicted. The numbers say no. The psychology says yes. Let's examine both. Most first mortgages out there are between six and seven percent, and tax deductible at a marginal rate of about 28%. If...

How to Effectively Shop for a Buyer's Agent

This is easy. Much easier than effectively shopping for a loan or a listing agent. So easy that a congresscritter can do it. So easy that congressional leadership can do it. The only thing possibly moderately difficult to understand is...

Listing Agreements: Exclusive Right to Sell Versus Exclusive Agency

There are actually several different kinds of listing agreements. They get their names from the rights conferred when you sign the contract. The vast majority of agreements concluded are either Exclusive Right to Sell or Exclusive Agency. Exclusive Right To...

Negotiation Requires More Than Dueling Ultimatums

Not too long ago, I started negotiating for a property. I did extensive research online, and and I and my clients visited several competing properties. We made an offer that was a little under 90% of the asking price, and...

Pocket Listings: Out of Sight, Out of Mind

Every so often, you will see references to a "pocket" listing. These are usually bad for owners, and usually bad for buyers, but good for agents. A "pocket listing" is one where there agent keeps the listing "in his pocket"...

"All of the Good Properties Get Offers So Fast!"

That's way up there on the list of complaints buyer's agents get. Probably number one, definitely no lower than number three, and it's only going to get worse when the markets recover. There's really only one honest response: "Well,...