A Real Estate Agent in Rehoboth Beach Wears Many Hats
The best real estate agent schooling isn’t something that takes place in a classroom. That kind of school is necessary, of course, because some of the most important work every Rehoboth Beach real estate agent does has to do with being intimately familiar with the letter of current state laws and Department of Real Estate strictures.
Observing best practices—keeping on top of all the current professional guidelines and legal regulations—does form a solid foundation for building a career in the profession. But important as that is, it’s only a foundation. You have to get busy and build something on it.
As every Rehoboth Beach real estate agent soon discovers, doing the kind of effective job that sets you apart begins early in the morning, and often continues long past what is quitting time in many a 9-to-5 occupation. What’s unusual about what goes on during that day is the array of specialized activities to be attended to. Just about every day, you will be energetically juggling tasks satisfying a wide range of different needs, for instance—
- Pulling and reviewing activity reports from the Rehoboth Beach Multiple Listing Service
Keeping your finger on the pulse of the community yields the up-to-the-hour intelligence that’s a vital resource for sellers and buyers in our active Rehoboth Beach market
- Monitoring and responding to online contacts
Increasingly, as email and messaging become central to real estate activity, near- instantaneous response times are the norm
- Scheduling showings
Arranging showings to accommodate both owners and buyers—and handling the inevitable last minute changes—calls for organizational perseverance (and an abidingly calm demeanor)
- Creating and executing media marketing
Fashioning the kind of attractively worded and designed listings is only the start of the all-important media campaigning that translates into results for your clients
Simultaneously, an accomplished real estate agent often will be keeping track of closing deadline requirements, handling negotiations between buyers and sellers, facilitating communications with home loan brokers, home inspectors, photographers, staging companies and any number of other facilitators…and fielding the dozen other details that might crop up unexpectedly in the course of the day.
- Written by Russell Stucki
Rehoboth Beach Home Inspections Can Cause Jitters Galore
It’s probably just an inevitable part of the human condition.
For almost everyone, awaiting any Rehoboth Beach home inspection is pure, unadulterated jitters time. Nail-biting time. Edge-of-your-seat time.
It isn’t because anyone seriously expects any of our Rehoboth Beach home inspectors to be ogres. Certainly the inspectors I recommend are uniformly courteous, professional, and quite empathetic. They should be empathetic, because of the situation—which consists of a buyer standing by, ready to become the proud owner of seller’s Rehoboth Beach dream house. With only the home inspection remaining to be conducted…
In other words, the inspector is asked to perform a professional service, the purpose of which is to uncover any previously unknown defects.
Potentially derailing the otherwise blissful scenario of uniting of buyer with house.
That is why, in the backs of both seller’s and buyers’ minds, there is usually some form of this scenario: the seller is in the act of dropping the front door keys into the outstretched hand of the buyer, only to have the home inspector snatch them out of the air. Caved-in roof has suddenly materialized; termite-infested inner walls discovered; fireplace housing found to actually be made of strawberry jello (all right, I made that one up). The point is, if you have house-hunted extensively to little avail—then finally found THE place of your dreams, you really really don’t want your Rehoboth Beach home inspection to turn up any bad news. Ditto if it’s your home about to be sold. With the additional factor that if some defect turns up that you knew nothing about, you still could wind up looking like a jerk…
Given the tension and anxiety involved with the profession, it’s just short of miraculous that our home inspectors aren’t all fighting peptic ulcers. The reason is probably because, when all is said and done, performing a thorough home inspection is a high-skill accomplishment—one of great value to both buyer and seller.
For the seller, the home inspection ritual is an exercise that bolsters the buyer’s confidence in the wisdom of such a momentous transaction. Without it, who knows how many homes would not change hands as readily? For the buyer, even when no defects are discovered (as is often the case), the home inspection report serves as an invaluable handbook, filled with useful details about the nature and status of the residence’s structure and systems.
Some agents believe they should spare jittery home buying clients a nerve-wracking experience by counseling them to stay away during the actual home inspection. However, accompanying the inspector is a valuable way to get in-depth knowledge about the workings of their new residence. Plus—there’s no better way to get over those jitters than to acquaint yourself with the real value you are about to acquire.
- Written by Russell Stucki
Top 5 Rehoboth Beach Home Buying Bargaining Point Basics
When a new buyer first approaches their initial Rehoboth Beach home buying effort, chances are they have only a general idea of what the process involves. Although they are successful people who have arrived at a juncture in their lives and careers where it’s now possible to buy a home of their own, most of the details—and even the terminology—is specific to this single kind of transaction. More than in most other purchases, there are a number of junctures where negotiations determine the outcome.
It’s pretty common to assume that their Rehoboth Beach home buying venture can be wrapped up with a single offer—one that will either be accepted or not. But along the way, from the home loan provider to the title insurer to the seller, other bargaining points frequently appear.
A first Rehoboth Beach home buying venture is sure to run more smoothly if these basics don’t come as a bolt from the blue. Most of these five fundamental bargaining point basics might be guessed at, but anticipating them all will put any first-time buyer in a much better prepared position:
- Down payment. It’s not true that buyers must put 20% down to buy a house. Or 10%. The amount of the down payment is a bargaining point with the lender, who usually offers trade-off choices.
- Pre-qualification/Pre-approval. The difference between the two terms can make a difference in how eager some sellers are to talk turkey. Pre-qualified means the lender has received a potential borrower’s information; Pre-approved means the bank has verified it, which presents the buyer in a stronger light.
- Closing costs. The down payment isn’t the only “up front” cost: there are a variety of other home-buying fees and charges that must be paid before the deal is financed. It’s a myth that the seller is obligated to pay closing costs—it can be a bargaining point, though.
- Home inspection. The inspection report informs the buyer what might need to be fixed now or at some future time. If the buyer has made an offer contingent on a flawless report, if problems are identified the seller can offer to correct them, pay a named amount for a cash-back credit—or refuse (a “take it or leave it” stance). In any case, it’s another bargaining point.
- Asking Price/Offering Price. This is the bargaining point that is fundamental in every Rehoboth Beach home buying venture. The seller can accept, reject, or compromise with a counter-offer. Then again, if more than one buyer is interested in a property, stand back: a bidding war could erupt!
- Written by Russell Stucki
Tick! Tick! Tick! Time and Delaware Real Estate Investments
“Time is of the essence!” is the kind of everyday phrase you might hear any time in Delaware. Most often it’s tossed off casually—as when someone gets impatient, waiting for a friend who’s been dillydallying. That’s when it means “we’re gonna be late!”
In Delaware legal contract phraseology, it has a more precise (and serious) meaning. To lawyers, including that phrase means that the parties must perform X by date Y or else! It means that missing a deadline will cause material harm. “Time is of the essence” in that connection is literal: the time element has value—it’s essential to the deal.
When you examine an investment in Delaware real estate, the actual phrase doesn’t have to appear in any agreement docs for time to play an important part “of the essence” of the investment. This isn’t just some abstract philosophical notion—integrating it into your buying, selling and management decisions will certainly affect the concrete dollars-and-cents results.
Most basic is a concept common to all investment avenues: the time value of money. The basic principle is that, provided money can earn interest, any given amount of money is worth more the sooner it is received. Most people are painfully aware of the inflationary effect of time on the money they earn—they know darn well that $1-a-gallon gasoline has become a distant memory (the same way great-grandparents used to describe 5¢ hamburgers).
The importance of having not just a nodding-your-head understanding, but of having a believing-it-deep-down kind of understanding of this may be why mature investors can be more stubborn about sticking to spending limits. They’ve experienced the rate at which Delaware properties grow in value over time—which means that if they were to pay 8% or 9% over what they truly believe a home’s value to be, it could take a couple of years before its resale value would reach even a breakeven point. Thinking in terms of its time value—picturing it just lying there, inert, for a couple of years—makes for a less appealing proposition.
For typical Delaware homeowners whose major reason for their real estate investment is as a residence, the time element works on many channels at the same time. The residence may lose some value as daily living’s wear and tear takes a toll, but at the same time, it’s all but sure to gain value through inflation. It might lose or gain as the immediate neighborhood changes for good or ill—although it could gain considerable value through wise decorating initiatives. About those decorating initiatives: it’s a canny homeowner whose first efforts at home improvement come in the garden: the right trees planted today can become hugely beneficial a decade or two from now—and hugely expensive to try to duplicate later. If you’ve ever discussed the cost of craning in a 25-foot shade tree, you understand the reality of “time is of the essence!”
- Written by Russell Stucki