Omaha Real Estate Blog

I thought this is a FANTASTIC post and I wanted to share this with my readers.  Tori Lynn Ross is owner of Ross-Designs and is a member of my team of professionals I call on when marketing a home.  I offer her services for FREE to all of my sellers as part of my comprehensive marketing program.   I am extremely fortunate to have her as part of my team.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

*****

Many buyers overlook the value of a survey when buying a home.  In fact, buyers will often leave the decision up to the lender.  Some lenders require a survey while others do not.  A survey is done in order to determine the true boundary lines of the property.  Do not assume that since a home has a fence that a survey is not necessary.

Serveral homeowners are learning the hard way with not having a survey done in Omaha.  They purchased homes in the El Dorado subdivision that had fences and decks that were not built on someone else's property.  In fact, it was built on public land and now the government is requiring the homeowners to remove the fences and decks at the cost of the homeowner.

Several homeowners stated that the agents they used to purchase the homes did not recommend getting a survey.  This is a clear indication of why it is important to use an experienced agent rather than any agent you find from calling off a sign.  Having an experienced Realtor can mean the difference between a smooth transaction or having an experience that haunts you years later to the tune of tens of thousands of dollars.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Unfortunately, many sellers are misinformed when it comes to real estate commissions.  First and foremost, commissions are negotiable.  There is no such thing as a "standard" commission.  Having a "standard" commission is considered PRICE FIXING and is violation of the Sherman Anti-Trust Act.  This means companies can not get together and set a "standard" commission. 

When a home is listed on the MLS (Multiple Listing Service) listing broker will advertise the "payout commission" to other brokers who might have potential clients that might be interested in the home.  Agents want to make a living and a seller is wise to offer a decent incentive for agents who bring a buyer to the home.  This incentive can be a percentage of selling price or a fixed dollar amount.

After the home is sold the commission is paid to the listing broker.  The listing broker will then payout the amount agreed to that was published in the MLS.  If you are a seller, it is very important to find out how much of the commission you pay is paid to the buyers broker.  In real estate, the term is frequently called the "payout."  When you are interviewing agents,  and you should interview at least three different agents.  Ask the agent how the commisson will be split and what is the payout to the buyers agent's broker will be.

Keep in mind, that PRICE ultimately sells a home.  Although a high payout is a great incentive for a buyer's agent, highest payout commission on the planet will not sell a listing that is overpriced.  

Thanks,

David Matney. CRS.GRI

Alliance Real Estate

The best time to solve problems is before closing.  When you are buying a home one of the most important tasks you will do is a final walk-through.  The final walk-through is to make sure that all the terms of the purchase contract are resolved.  If something is not right on the walk-through ... do not close.  Do not feel pressured by anyone to close because after closing getting issue resolved becomes 10 times harder. 

When you are buying a home it is best to conduct your walk-through at least 48 hours before closing so the seller will have time to fix or address any items that might need to be addressed.  If repairs were part of the contract, it is best to make sure that the reciepts are available at the time of the walk-through.  Again, if something is not right - get what needs to be done in writing in order to close.  If the issue is not properly addressed before closing to your satisfaction then DON'T CLOSE!   

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

One of the least effective methods of marketing your home is the newspaper.  The internet continues to capture more and more buyers.  The average age of the typical buyer is in the mid thirties.  What is the average age of the typical newspaper reader?  The typical newspaper reader is in the mid fifties.  So, even if someone is reading your ad - they are not the ones buying a home. 

I will concede that it might help with branding and image but does it actually sell homes?  In fact, a few major city newspapers have gone away from having a real estate section entirely and it is interesting to see how many companies are pulling back on the size of their ads in the paper. 

What used to be a full two page spread is now a one page ad.  I recently attended a marketing course and the instructor told the class that a company had ran a FULL page ad with a phone number that was specifically for the ad.  The result was not one single call came from the ad.  Many "For Sale by Owners" will also attest for the ineffectiveness for the newspaper when sites like Craigslist drive far more traffic to a home.  In the current market selling a home takes a comprehensive internet marketing plan.

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

One of the more fun activities as a Broker/Owner is the annual examination from the Nebraska Real Estate Commission.  The role of the real estate commission is to protect the public.  In order to ensure that companies comply with all rules and regulations the real estate commission conducts a yearly audit examination of the Brokers files and trust account.

As broker/owner I am very fortunate to have a great group of more experienced agents who truly care about the quality of their work and follow the systems in place to make sure all the paperwork is properly filled out.  This week we had our annual examination and we always look at this as a learning tool to better our systems.  Our audit examination (I was told it was an examination and NOT an audit) was this week and it went off without a hitch. 

The examiners pull random files to check dates and signatures and to see that all disclosures have been made.  The examiners also look carefully at the trust account to make sure that all funds have been handled appropriately.  Many agents are unaware of how closely a file is looked at and how important dates and signatures are to make a file complete. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

Purchasing a home is something that is not done everyday for many consumers.  During the purchase process most buyers develop a very good relationship with their AGENT and look for the agent to provide sound advice and additional vendors in various fields to assist in the purchase process.  In an attempt to assist their clients many COMPANIES have a "preferred provider" list of vendors such as inspectors, title companies, lenders, carpet cleaners, etc. that are are "recommended" by the company.

Having a "preferred provider" list is fine, however, did you know that many companies CHARGE vendors to be on the "preferred provider" list?  I am all about making as many items profit centers as possible but I also like to sleep at night.  I would rather have a "preferred provider" list of vendors that do a GREAT job rather than having a list of vendors that PAY an "advertising fee" for the priviledge to be on the list.

Is this legal to pay an "advertising fee" to be on a preferred provider list?  Yes.  Is it in the best interest of the client?  Maybe not.  To be fair, companies understand that if someone on the list is bad then it will reflect poorly on their company.   It would be a bad business decision to have a list of duds even if they paid the "advertising fee."  However, most buyers will not be able to establish a baseline to compare home inspectors because they do hire the inspector only once.  The consumer is not able to make a FAIR comparison leaving the consumer at a disadvantage. 

Thanks,

David Matney, CRS,GRI

Alliance Real Estate

When sellers hire a Realtor they are hiring a professional and paying alot of money to market their home.  Shouldn't the marketing materials reflect that professionalism?  In my opinion, many agents take the "easy road" and simply print out the MLS LIP (Listing Input Sheet) sheet and try to pass that off as a property flyer.  Here are two flyers of the SAME property.   One is a generic MLS LIP sheet and the other is a professionally made DOUBLE sided color flyer.  

Two Flyers of the SAME property

Here is an example of a MLS lip sheet flyer

Professionally Made

Page 2

If YOU were a seller which flyer would you prefer?  In the first flyer, the pictures are so small that you need a microscope to see the photos.  Also, another problem with using a MLS lip sheet is that why would you want to promote a negative like the yearly tax bill?  (Omaha has extremely high property taxes.)

Keep in mind, that PRICEis the ultimate determinate in selling a home.  However, flyers DO get you business and I have picked up other SELLERS in a neighborhood because of having a nice flyer.  My flyers are made by Laura Monroe with CreativeAgentSolutions.com and her work is simply amazing and the credit goes to her.  (Thanks Laura)

Thanks,

David Matney,CRS,GRI

Alliance Real Estate

This property has been SOLD!

If you are looking to sell your home in the Omaha area please give me a call at (402) 490-6771.  I offer a comprehesive internet marketing program to help you get your home SOLD!  Interested in purchasing a home?  I offer FREE buyer representation and I have a team of buyers agents to help you!  Please visit our website at AllianceSells.com today!