Ask The Realtors
For many people, it can be a nerve-wracking situation to buy or sell a house. It can be difficult to understand the legalities and paperwork of the process or even know the right avenue to purchase or sell a home. Qualified real estate agents in our area provide answers to everyday questions and are always available if you have more. Find valuable information from some of the top agents in our area!
Q.
How does a buyer make an offer on a home or property? What are some aspects to consider when putting the offer together to make it attractive to the seller?
ANSWERED BY
Aaron Jones, RE/MAX LAKES REALTY
712-320-9442 | www.bojihomes.com
We are still living in quite the seller's market. We are facing a substantial shortage of homes, not just in town, but on the lake, including condos. The most important thing a buyer can do to put them in the best position to successfully come under contract and close on a home is to get advice from an experienced REALTOR®. The first piece of advice that REALTOR® is going to give any non-cash buyer is to make sure they are preapproved with a pre-approval letter in hand. It's important to note that a prequalification letter is not the same as a preapproval. Anybody and their dog can get a prequalification letter online that looks official, but a preapproval letter shows that a buyer's income has been verified, their lender has reviewed their tax returns, pay stubs etc., and the buyer will know exactly how much they can afford. This should always be the first step in the home buying process. Once this is accomplished, the buyer's REALTOR® will assist in sending the buyer homes that fit their budget, location, and requirements.
However, in today's market, you must be prepared to act fast, but not irresponsibly. Don't get into a position of buyer's remorse just because of limited inventory. As a home buyer, you are spending a lot of money, and it's okay to bend on your list of wants, but just don't break! It will also be important for the buyer to understand that in most markets, properties will sell fast. Buyers should rely on their REALTOR® to do market analyses to confirm a fair list price, and if so, then it may be time to be aggressive. The best ways to strengthen offers is by offering the list price (or more if the CMA supports it), by removing contingencies, and by being accommodating to the seller with flexible terms.
Q.
How will you market my home? What are things a seller should do to make it more enticing to buyers?
ANSWERED BY
Okoboji Realty Team, Okoboji Realty
712-336-4000 | www.okobojirealty.com
Successful marketing takes a special strategy. We take a thoughtful, targeted and results-orientated marketing approach that draws in qualified prospects and achieves maximum value with a shorter time on the market. With the seller’s approval, we professionally convey every unique benefit and detail through our network and market the home through various print, online and social outlets. We work with the seller to make a strong first impression by providing show ready recommendations, staging advice and professional photography. We will identify and contact qualified buyers, place the home on the MLS to provide maximum exposure, host a real estate agent tour, and showcase the home through the various outlets which best suit the property. Throughout the entire process, we are in contact with the seller communicating any updates. We get listings seen and sold!
Q.
How often do you communicate with your buyer or seller? What is the best way to communicate with your real estate agent?
ANSWERED BY
Janie Eick, RE/MAX LAKES REALTY
712-339-0574 | www.janieeick.com
Do you know how closely you will be working with your real estate agent? REALLY CLOSE! Communication is key and it’s essential that you find someone you get along with well. I let my clients set the tone for how often they want me to be in communication with them. For first-time homebuyers, the communication is typically higher, because they have never gone through the process. While others don’t need to be in touch with me every single day, maybe it’s every few days, or once a week. Personally, I have my phone on me 24/7 and try to answer every call that comes through, and if I can’t answer, I reach out immediately via text message to let them know I will call them back as soon as I can. Personally, the best way to communicate with me is to call or text. Just like the housing market is competitive, so is being a real estate agent. I pride myself as an agent who communicates thoroughly and answers my phone (go ahead - test me!). I also provide several complimentary resources for prepping your home for the market at JanieEick.com. Feel free to reach out to me personally – I would be happy to send it to you!
Q.
How do you prepare your home to sell?
ANSWERED BY
Katie Slater, NextHome at the Lakes
712-320-0887 | www.nexthomeatthelakes.com
When getting ready to sell your home, you may have a thousand things that you want to do to it before putting it on the market. Fresh paint, new flooring, and a new bathroom are some of the common updates that people may want to do. Unless it is terrible, don't do it. Price your property accordingly and let the buyer update it to their liking. You might love luxury vinyl flooring, but your buyer has a baby and wants carpet in the living room, you might like beiges, but the buyer likes grays, etc. If there are minor issues such as a dripping faucet, loose doorknobs, or closet or screen doors off their tracks, repair them. Check light fixtures to make sure bulbs are not burnt out, and make sure furnace filters and air conditioner condensers are clean. You want buyers to know you took care of the house.
Other things to do before listing with a REALTOR® are to clean everything top to bottom, wipe fingerprints off walls and light switches, dust floor trim and vacuum along corners to get pet hair, dust bunnies, spot clean carpets to get rid of pet or other stains. Make sure your kitchen appliances are clean and your counters are not cluttered. Clean and organize the closets, put things you don't use in piles to donate or throw away. Remove any bulky furniture pieces that clutter up the room. You want the rooms to feel spacious, not small and cluttered. Put away personal family pictures and any wall hangings or other decor of sentimental or monetary value that you don't want on the internet for everyone to see. One thing NOT to do is put a bunch of air fresheners around, it just makes it look like you are covering up a bad odor, such as mildew, pets, or dirty diapers! If you need to get rid of smells, clean up the source of the smell as best you can and open windows, if the weather allows, or get an ozone machine if the house is vacant. If you have pets, make sure to keep their areas as clean as possible, as one of the biggest deal breakers for some buyers is smell.
Q.
How do you help a seller come up with a listing price? What are the details that go into that price?
ANSWERED BY
Jill Longest, Exit Realty Midwest
712-330-7418 | www.okobojiareahomesforsale.com
To help a seller come up with a listing price, the first thing that needs to be done is a Comparative Market Analysis (CMA). The value of a property is determined by what a ready, willing, and able buyer will pay for it in today’s market, and this is based upon the value of other recently closed/sold sales of comparable properties in the area. Pricing a home correctly from the start is crucial because overpriced properties often linger on the market. On the flip side, pricing your home too low may also cost you thousands of dollars. The majority of prospect activity on a new listing occurs in the early period of marketing. This happens because REALTORS® maintain an inventory of active prospective buyers that have been cultivated over time. Once this active group of buyers has seen the property, showing activity normally decreases to only those buyers new to the market. For this reason, it is important that sellers present their properties in the best condition and at the best price possible, at first exposure to the market. Another thing to remember is that all markets are local, so hiring a local REALTOR® who knows the local market is key. As in any city, town, or suburb, there are markets within markets, and our area is no different. Think of the different areas and neighborhoods in the town where you live. Each area and neighborhood has its own characteristics that impact home values. The Iowa Great Lakes area is no different and is a unique example of this because each of our lakes has its own unique market.
Q.
What contingencies should I include in the contract and how do I find a good inspector?
ANSWERED BY
Keith Brockmeyer, Lakeland Realty
712-336-0400 | www.lakelandrealtyofiowa.com
Even though the market is still hot, buyers should resist the temptation to waive contingencies in order to get their offer accepted. Home inspection, financing and appraisal contingencies are among the most-important, as not including them could potentially cost buyers thousands of dollars in repairs and/or earnest money deposits. It is more effective to waive any seller concessions in order to simplify the offer and make it more attractive to the sellers.
Inspectors, appraisers, and lenders are a vital part of the buying process.
There are several home inspectors in the area, and we usually recommend two or more to our clients. We rely on our experiences with them and recommendations from other real estate professionals to come up with the list. The same applies to lenders, there are several great mortgage experts, and we recommend them based on past experiences and personal references. As for appraisers, in a typical home purchase, they are assigned through a clearing house, so we aren't involved directly in that process.
Q.
What are things to look for and keep in mind when touring homes for sale? How do you help the buyer with the process?
ANSWERED BY
Okoboji Realty Team, Okoboji Realty
712-336-4000 | www.okobojirealty.com
We encourage all buyers to visit with their lender before they start the process of looking. We also sit down with the buyers and have a conversation and listen to their wants and needs for a home. This helps us focus on the right homes depending on their buying power and the type of financing being used. Showing buyers homes outside their purchase ability can lead to frustration and disappointment. When looking for the right home for each buyer, we help provide vision of what spaces could be and help determine the best fit for their needs based on buying power, current market and comparable homes. Once buyers find a home, we complete the paperwork for the offer and once accepted, provide on-going guidance through all the steps of the closing process. We stay in consistent contact to provide a smooth closing and make sure all is ready for closing day!
Q.
How do you market yourself uniquely in the real estate agent market?
ANSWERED BY
Nancy Vierkant, Exit Realty Midwest
712-330-4266 | www.sellingiowalakehomes.com
Relationships are important to me. I position myself within organizations and our community where I can give back and utilize my passions. You will find me at the Spirit Lake Schools, Spirit Lake Noon Kiwanis, Special Olympics, Music groups, Meals on Wheels, and promoting our area businesses and local amenities. Growing communities need a strong business and service industries to continue to attract people to move to the area.
When it comes to marketing homes in our area, I incorporate videos in my marketing. Videos are a great way to highlight specific features of properties, advertise open houses, and engage with online viewers. With many buyers looking online and having access to various websites and social media platforms, it is important to have an online presence. Another resource I use at EXIT Realty Midwest is our in-house videographer. This has been extremely useful for out-of-town buyers. In addition to video marketing, taking professional photos is imperative. If your property is not grabbing the attention of other real estate agents and prospective buyers online, how are you going to get them inside the door of your property? As they say, pictures are worth 1000 words (and videos are worth 10,000 words).
Q.
How long does it take to close on a home? Why do some seem to sell faster than others?
ANSWERED BY
Rob & Angela Hinn, Hinn Real Estate
712-336-1240 | www.buyokoboji.com
Relationships are important to me. I position myself within organizations and our community where I can give back and utilize my passions. You will find me at the Spirit Lake Schools, Spirit Lake Noon Kiwanis, Special Olympics, Music groups, Meals on Wheels, and promoting our area businesses and local amenities. Growing communities need a strong business and service industries to continue to attract people to move to the area.
When it comes to marketing homes in our area, I incorporate videos in my marketing. Videos are a great way to highlight specific features of properties, advertise open houses, and engage with online viewers. With many buyers looking online and having access to various websites and social media platforms, it is important to have an online presence. Another resource I use at EXIT Realty Midwest is our in-house videographer. This has been extremely useful for out-of-town buyers. In addition to video marketing, taking professional photos is imperative. If your property is not grabbing the attention of other real estate agents and prospective buyers online, how are you going to get them inside the door of your property? As they say, pictures are worth 1000 words (and videos are worth 10,000 words).
