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How To Effectively Work Alongside A Real Estate VA

Posted by Pam Maglione on December 9, 2013 at 4:53am

Have you considered working with a VA? Are you looking for a way to effectively work with your real estate virtual assistant? Real estate is a highly demanding and volatile business. More than half of the bulk is focused on organizational and administrative tasks. As time is of essence in realty dealings, a virtual assistant can come handy to guarantee viability and efficiency from start to closing. Though most real estate agents know the significance of having virtual assistants in this age of online technology, knowing how to effectively work with one is another matter that needs close scrutiny. To give your labor cost the most incentive, here are great tips to realize the true power of your chosen VA:

Identify Duties to Delegate

There are a myriad of tasks involved when dealing real estate. Though essential, some of these tasks do not really need your expertise but still can get a huge chunk of your time and effort. Paperwork compilation, for instance, can be taxing yet, these are important to validate your dealings. To get the most of your labor cost, it is imperative to know what responsibilities and tasks can be delegated to your chosen virtual assistant. It is best to note that virtual assistants do more than just administrative tasks. They can also do market research, financial accounting, and write blogs and SEO-savvy content.

Elaborate on Scheduling and Training

Establish a process for your virtual assistant. Train them to give their best potential and let them familiarize how you do things around. Real estate can sometimes hold sensitive information, and laying down confidentiality clause must be done. Best of all, it is essential that you set ground rules on how reports and paper works must be handled.

Be Updated With Technology

Majority of virtual assistants are found online. Technology is one great help in connecting with them, and keeping yourself adept with such can help forge steady communication and collaboration. Use apps and software to delegate tasks and connect with your real estate virtual assistant. Backup data through cloud software is a common practice nowadays for easy access and security.

Keep Steady Communication Flow

Highly legal in nature, real estate dealings require focus and consistency. The need to connect on a daily basis is essential especially when trying to negotiate or close down a property deal. Make sure that you have the necessary platform and back-up communication. This is to guarantee efficiency of results and easy monitoring of progress. Keep in mind that you might be dealing with a real estate virtual assistant from as far as the Philippines or Australia. To guarantee results, enforce effective communication lines.

You can check us out at http://pamsvas.com/ for more information regarding real estate VAs.

Top Renting Out Tips for First Time Landlords

Posted by Pam Maglione on October 21, 2013 at 8:39am

Deciding on renting out your home or condo is no easy task. It requires patience and perseverance, and a lot of responsibility. You do not just find a tenant and let it be. You need to ensure that you obtain the right person to rent out your place at a rate you specify. However, if you play your cards right, renting out your place and becoming a landlord can be rewarding and a good way to make money without selling your real estate property. For first time landlords, coming prepared requires that you do your homework before renting out your property. To get your wheels turning, here are some important renting-out tips to guide you by.

Tip #1 – A Well-Prepared Property Attracts Numerous Renters

It is important to comply with required standards as prescribed by the law such as structural repairs, adequate ventilation and heating, safe electrical system, and other stipulations. Keep in mind that well-kept properties often get the highest nod among potential renters and, often, earn huge respect, too.

Tip #2 – Learn Your Landlord Obligations Properly

There are stipulated obligations required from landlords. In most states, the need to register your property for tenancy is essential for tax requirements. One of your main responsibilities, however, is to ensure that your tenant have a safe and functional living space. This means your rental property must have passed the specified standards stated by the federal and local housing code. This means plumbing, electrical and structural system, lighting, ventilation, and security systems must be in place. Repairs and maintenance must be shouldered by you, thus, when reimbursable when paid by your tenant. Keep in mind to give adequate notice of termination when you plan to cut-off the lease on your property.

Tip #3 – Learn About Your Rights

Never go to war uninformed of the terrain. As important as your obligations, you need to also know about your rights. This means receiving correct rent on stipulated due date, receiving added charges according to lease contract, annual review of rental contract, be informed of damage or any problems in the property, and subsequently, be given due notice on any planned repairs or home improvement. Protect your rights by putting this into writing. As a rule, make sure to have a valid contract before setting out a lease on your property.

Tip #4 – Always Check Tenant’s Payment Ability

Of course, your priority is to gain substantial income from your hard-earned investment. It is wise to check if your tenant can pay-up your rental rate. A reference from previous landlords or employers is a wise move. If you plan to accept students, call in the attention of parents or guardians as guarantors for the lease.

Tip #5 – Better Be Insured

Consider having a rental home insurance. This ensures that your home’s structure, medical expenses, legal fees and loss of rental income is covered when needed. Encourage your tenants to buy an insurance suited for them as renters, too.

Tip #6 – DIY or Professional Real Estate Agent

Advertising a rental property on your own may sound a noteworthy job but it can also be quicksand if not handled right. For first-time landlords, having the assistance of professional real estate agent can help cut down cost involved while increasing your chances of finding a tenant quickly and efficiently. Most real estate firms or independent agents usually do background checks on potential tenants to protect their reputation in the market. If possible, choose one which can also perform managerial functions for your property.

Renting out your home for the first time can be both exciting and overwhelming. This, however, is one lucrative deal that you should not miss if you have a house, a condo, an apartment or even a room to spare. In all these, having a professional (attorney, accountant and real estate agent) to give you sound advice and point you to the right direction will ensure great rewards.

Essential Home Improvements for Property Resale Advantage

Posted by Pam Maglione on October 15, 2013 at 4:39am

Are you planning to sell your house or apartment? Would you like to know what can help boost your resale incentives? If you have finally decided to list your property up for resale, you might be inundated by friends or work colleagues on undergoing notable changes to boost results. Though some people may find it easier to sell their homes “as is”, this idea does not apply if you want to gain more out of your hard-earned investment. You do not really have to spend a fortune if you wish to increase the resale value and appeal of your home. All you need to do is exert efforts and a few bucks to guarantee a resale that will put a huge grin on your coffers.

1. Standard Repairs

Aside from location, size, neighborhood, number of bathrooms and bedrooms, and so on, it is important that your property is comfortable and functional. You need to ensure that structure, plumbing, electrical, security system, and other crucial parts of the home are safe and sound. Carefully assess any broken outlets, chipped or cracked tiles, defective electrical and HVAC system, infestation, and other parts of your property. It is your ethical responsibility to sell a home that is functional and serviceable. In cases of serious repairs needed, a professional is one that guarantees a topnotch job, unless you are a master in do-it-yourself.

2. Organizing Clutter

This may sound tedious at first but, when done right, can give your home a creative facelift without spending a lot. There are many ways to organize clutter nowadays. You can put into storage any unnecessary items which might disrupt a potential client’s interest. You may indulge in simple clean-up but when it comes to de-cluttering, you might want to check out various storage systems nowadays that deliver astounding results.

3. A Paint Job

Paint plays an important role in a home’s curb appeal. It is the very first impression that draws interest from potential clients. If you believe that your home is in dire need of a fresh coat of paint, slap both interior and exterior with a can or two. You may engage in DIY if you have significant experience. Just make sure not to become tacky with wallpaper, odd colors or bad flooring design. When you are not sure, better seek out a trusted local paint contractor to handle the job. Some also have a lot of vinyl siding now. It might be good to paint the exteriors or power wash them to ensure clean appearances for when clients come to view the property.

4. Add a Garden

You can prettify your back- and front yard with a garden. Mowing the lawn can prove to be an exciting chore to both men and women nowadays. A garden full of flowers makes a lot of difference. For small –spaced abodes, AeroGardening or simple recycled container gardening would suffice.

5. Take Note of the Kitchen and Bathroom

Be extra watchful of your bathrooms and kitchen. These areas are becoming highly considered focal points of a home. You might want to invest on new sinks, countertops or cabinets. Replace those with significant marks as this can easily distract a potential buyer.

6. Raise the Roof

Repaint, repair or replace? Carefully assess the problem on your roof. A professional roofer can easily pinpoint essential initiatives that must be done to ensure zero bad credit.

7. Update Security System

Last but not least, make necessary updates on your home’s security. Nothing beats a house that is not only well-kept but also fully secured. Homes with foolproof security system, often, acquire great interest.

Tech Tips For The Busy Real Estate Agent

Posted by Pam Maglione on September 24, 2013 at 6:43am

There is no denying the fact that technology has continually shaped everything that we know of now. Aside from affecting consumerism, one massive impact is continually being felt in the real estate realm. Today, real estate agencies are becoming more visible online. The Internet has become a huge factor in advancing its clout even when goals and objectives are locally concentrated. From virtual assistants to interactive websites, iPads and SmartPhones, and needed thingamajigs, “tech-cessorizing” your real estate wardrobe is no longer just an option but a must.

For a real estate agency to standout in a highly volatile market, these tech-savvy tips must be carefully considered to ensure productivity, reliability, transparency and sustainability.

1. Perfect Fusion of Quality Content and Visual Design

Having an online presence is a must but the clamor does not just stop in creating a website. In order to entice potential buyers and sellers, the need to project a visually captivating web design with reliable and trustworthy content is essential. In the last two years or so, data provided on realtors’ websites are experiencing major overhaul. It is no longer just an attractive website but one that is search-engine and mobile friendly, artfully integrated with social media and blogs, easy importation of listing from MLS, and equipped with special scrolling technique that eases the use of a potential buyer or seller.

2. Going Mobile

Another significant impact in today’s high-tech realm is the continual updates on gadgets. Real estate agents, in their need to be competitive and up-to-date, must come geared with necessary tools and equipments. This is the reason why most realtors nowadays are tied up with their Smartphones and Androids, tablets and laptops, Bluetooth, hands-free headset, GPS, and so on. Communication, time management and research are critical aspects in real estate, and these tools give them wide-ranging avenues to pursue their objectives. Meeting up clients, explaining a home-buying process, making follow-ups on payments, updating oneself on current real estate market news and trends, and so on, are now geared for more mobility alongside the continued rise of portable digital technology.

3. The Rise of Cloud Computing

Cloud computing solutions have become a standard norm in many up-and-about real estate firms and independent players. This practice allows expansion of your office while reducing overhead and going paperless. This ensures that agents, brokerages, clients, and potential buyers or sellers gain access to software and documents online regardless of where and the devices used. When it comes to cloud computing, however, there is no such thing as a “fit-all” design. You need to carefully assess your market, work style, and other important aspects that make your business unique than the rest. This also gives rise to the success of real estate virtual assistants.

4. SEO, Social Media and PR

If you have been told that social media is everything, not anymore. Today’s online marketing aspect no longer just focus on social media platforms but rather on the integration of SEO, PR and social media. As most real estate firms, agencies and independent players become more attuned to using online platforms, keeping tabs with highly sophisticated algorithms require more qualitative content, transparent social media marketing, and targeted PR to keep your authority high.

Indeed, the continual integration of technology in real estate management and transactions has made management and tracking much easier. Technology puts them in a powerful position to initiate, compel, and put communication with their target markets on the right track. With easy access to free data on customers’ needs, purchase behavior, and concerns as well as expectations, this gives real estate agents the needed competitive advantage to provide better service and increase sales.

All You Need to Know About REOs

Posted by Pam Maglione on September 18, 2013 at 3:11am

Looking for a great real estate investment? Why not take a closer look at REOs? A prevalent term in real estate, REOs are considered sought-after properties by realty investors and independent home buyers who wish to get the most value out of their hard-earned money. When thinking of expanding your investment nest egg or when looking for a home to buy, it is imperative that you know what you are getting into before signing that deed. Stay on this page, if you want to know more about REO, its benefits, and where to easily find them.

What is REO All About?

In actuality, REOs are properties which have been foreclosed and turned over to banks or financial entities after it fails to be sold in a short sale. Properties usually include single or multi-family abodes, farms, commercial spaces, and vacant lands and buildings. Most foreclosed homes have attached creditor and tax liens, and sometimes, in need of substantial repair. Through REO arrangement, these attachments can be “cleaned” by the bank or financial institution to make the property more saleable. When repairs needed are substantial, banks usually sell these properties “as is” making it a favorite among prolific do-it-yourselfers looking for money-saving investments. Take note also that banks and lenders sometimes refer to REOs as “bank-owned” properties or simply “available properties” on their website.

Benefits of Buying REOs

Property buyers are predominantly interested in the money they can save from buying a Real Estate Owned property. If you care to check the current real estate market, it is understandable that most REOs are priced or listed sitting just within 10% below current market value. This, however, depends largely on the condition of the property and the amount of repair needed to make it usable and functional. If it is a private home, a buyer would want an REO that is livable and requires less expense on repair. This is no problem though to a home buyer who have great capabilities on DIY as buying it “as is” from a bank or lender can definitely stretch the value of his dollar.

As mentioned, REOs have free title liens and all other claims such as those from HOA, delinquent taxes, and mechanics. It is also generally vacant or unoccupied. This is usually pre-arranged by its previous bank or financial institution owner to increase its marketing and selling power. Think about buying a property with a clean title and no hassles on evicting a previous owner. This gives you enough advantage on not experiencing expensive and time-consuming legal predicaments later on.

Best Places to Find REOs

Predominantly, REOs can be found on bank and various mortgage lender websites. Lucky for those who have contacts, they can easily get good deals from insider information. Today, however, these financial institutions often sell their REOs in bulk or have these properties marketed by real estate brokers with standalone listings on their site. You can check out multiple listings on the net and make use of these sites with their easy-search mechanism. Some sites allow you to filter your search according to location, price range, property type, square footage, and sometimes, number of bedrooms and baths. This somehow saves you time and effort in finding the best property to invest upon. If buying REOs is an entirely new endeavor, working with an REO specialist can be of great help in locating the perfect property for you at a much reasonable price.

Top Real Estate Trends Home Sellers and Buyers Should Not Miss

Posted by Pam Maglione on August 14, 2013 at 4:09am

Today’s real estate market is continually meandering towards recovery amidst a slower-than-normal pace and an ongoing world economic distress. With almost six years of excruciating struggle, this sounds like a good deal for buyers-and-sellers, and realtors in the market. But what are the current emerging trends in the real estate market nowadays? To give you a closer perspective, here are some top trends most investors, realtors and independent home buyers and sellers have observed.

Low Mortgage Rates

As the economy slowly perks up, it is understandable for the fixed 30-year mortgage rate to nosedive. This could mean an impending increase anytime soon. But contrary to previous prediction, this will not skyrocket abruptly. The Federal Reserve is wise enough to keep it low for at least the whole year to help hasten recovery in the housing market. As it scale back its stimulus program, expect rates to gradually rise but, as a rule, never at an abrupt pace. For buyers, this could mean that now is a great time to buy your dream home.

Dynamic Bidding Wars

With the purported recovery, bidding wars have become even more dynamic and forceful in various places like Southern California, Seattle, Boston, New York and Washington. This has, however, shown a decline in other states like Pennsylvania, Maryland and Baltimore. But with the ever fluctuating norm of the real estate market and the economy as a whole, dynamism of bidding wars has great rely on present locale situation.

Flexible Tenure and Adaptability

Before the economic upheavals, buyers are expected to stay in their purchased homes for a certain amount of time. Current trend, however, has shown that almost half of home buyers do not have clear expectations on their tenure in a particular property. As economy continually shifts, so does the mentality of a home buyer. With this, sellers must ensure to market their homes according to what a buyer needs taking into consideration a buyer’s future needs. You might want to promote flexible space characteristics like a convertible garage or basement.

Increase Demand from Married Couples

The current driving force in home buying lies on the hands of married couples who are not necessarily first-time buyers. This could be affected by the sudden shift in the economy and employment market. For sellers, staging a property that appeals to couples will definitely increase its appeal.

A Steady Influx of Renters

Unlike couples, the growing number of yuppies escaping their parent’s overcrowded basements and extended garage pave the way for the rise of demand on rental properties. As young people start moving back into the employment market brought by an improving economy, moving out of the family homes has become a norm steadily giving rise to a lucrative rental business. For sellers who are uncertain on their decision, renting out their property can be a good opportunity.

Rise of City High Rise Living

Whether the real estate market dip low or jumps up, the demand for high rise living like condominiums continually climbs at a steady pace as cities are becoming more compacted. The problem in space and more employment pouring in to these niche locations pave the way for accelerating demands and prices in condominiums. For sellers this could be a great time to invest as it can both capture both renter and buyer markets.

Consistent Rise of Digital Marketing

Of course, reliance on online trend persistently continues as the top search engine for both buyers and sellers. Digital data has become the most important resources of information. This also posed a good opportunity for realtors and private sellers as online marketing is much cheaper and wider in scope.

Let these real estate marketing trends give you a heads-up on where to put your investment. Finding which markets or sectors offer the best incentive to your hard-earned money can be quite challenging. With steadfast expectation and a competent realtor handy, home buyers and sellers can productively manage sudden shift on these trends to their advantage.

Rarely Discussed Tips for Buying that First House

Posted by Michael Collins, CDPE, SFR on January 31, 2013 at 7:14am

Rarely Discussed Tips for Buying that First House

Lots of solid information is available online that discusses items for first time home buyers such as choosing the right loan, working with a reputable lender, and arranging a proper budget. While those items are very important, there are some other items that don't get the same publicity but deserve great attention.

Buyer Beware

It cannot be stressed enough: there is no such thing as a perfect home. One home that seems to have a great outside appearance may need significant work on the inside. Another home that is appealing both indoors and out could be located in a terrible neighborhood. Take some time to look over the home as closely as you can. Ask some friends or relatives to come by and inspect the place. If something looks wrong, consult with a professional inspector.

Don't Sign Something that is Unclear

Most people that are buying a home for the first time are not aware that there are LOTS of forms to sign. This does not mean you should sit at the closing and closely read every single word. Many of these items are simply legal documents designed to protect the borrower. However, it also does not mean you should be confused about the process. During the closing process, ask the closing agent or your lender questions about the paperwork that you are signing to be sure you understand everything.

Allow for Improvements and Vacations

Very few people buy a home and leave everything as it sits for the duration of their home ownership. Most people like to add variety by changing out the carpet, adding fresh paint and updating the appliances and light fixtures. All of these things take money, whether they are done now or 5 years from now. Don't pick a home that is at the edge of your affordability. Leave some room for making a few improvements as well as saving up for the occasional vacation.

Don't Buy With Just Your Heart

It is true that most people will live in a home for a number of years. For this reason, they need to be quite happy with the major features of the property. However, falling in love with a property that is over an hour away from your job will make your commute quite tough, and add misery to your life. It is important to find a home that makes you happy and is practical for your situation.

: photo credit: joelplutchak via photopin cc

Avoid Unpleasant Features

Just as some people fall in love with a home and buy it based on one or two features, some people loathe one or two features of an otherwise suitable place. It is a bad idea to try and put up with something that makes you unhappy for the sake of owning a home. For instance, some people despise yard work. Buying a lovely modern home, with modern appliances, and in a good area may sound great until you realize the yard is monstrous. All those hours spent mowing the lawn, trimming bushes, cleaning around walkways and other items may actually irritate some people to no end.

Putting Aside Your Emotions When Selling a Home

Posted by Michael Collins, CDPE, SFR on April 23, 2012 at 6:47am

Putting Aside Your Emotions When Selling a Home

Because of the large investment needed to purchase a home, sellers often find themselves in a difficult situation. This inanimate object that they have owned for years and used to develop many memories will suddenly belong to someone else. This can be a difficult time emotionally for many people. Here are some ways in which the seller can set aside emotions when selling a home.

Values vs. Sentiment

Everyone that tries to sell a home has the same goal in mind; to get the most that the market will bear. However, this is a difference between asking someone to pay a fair price for a feature of the home as opposed to asking someone to pay a premium for something that is only valuable to you. The unique door handles, exquisite bathroom fixtures or one-of-a-kind chandelier may hold great meaning for you, but they may simply be accessories to someone else.

Vacate the Home during Showings

When your real estate agent notifies you that they will be showing the home to a proposed buyer, it is best to leave the home for a little while. Someone that has never seen your home will have a much different opinion on things like the condition of the carpet, placement of furniture and the colors of the home. Rather than risk hurt feelings or irritation from a buyer nit-picking over small details it is best if you are not there when the buyers arrive.

Give the Real Estate Agent Room and Freedom to Work

The job of your real estate agent can be summed it in one sentence. They are on a mission to find the one person/family that is serious about purchasing your home. While your home may be viewed by multiple parties, it only takes one to offer a contract and close the deal. Give the Realtor® some flexibility in handling offers and let them come to you with news, instead of going to them after every showing and phone call.

Consider the Transaction as Strictly Business

Once a seller has realized that selling their home is merely a financial transaction in the eyes of the buyer the whole process will move along much smoother. Sellers should not react to comments about the decor or the curb appeal as a personal affront. The buyer is simply trying to find a way to get the price lower. This points to a good sign. If the buyer is trying to negotiate then it means they are interested in buying the home. The next step is coming to a mutually agreeable price. Once again, sellers should not take a counter offer as an insult. Instead, consider the price based on advice from the real estate agent. Holding out for a higher offer is not always the best tactic.

For many people there is no way to get around the fact that their home has been a cherished possession for a considerable time. However, detaching one’s self away from the physical building emotionally will help make the transition easier to handle.

Original Post - Ways to Put Aside Your Emotions When Selling a Home

tips (9)

How To Effectively Work Alongside A Real Estate VA

Top Questions to Ask Your Real Estate Agent When Selling Your Home

Top Renting Out Tips for First Time Landlords

Essential Home Improvements for Property Resale Advantage

Tech Tips For The Busy Real Estate Agent

All You Need to Know About REOs

Top Real Estate Trends Home Sellers and Buyers Should Not Miss

Rarely Discussed Tips for Buying that First House

Putting Aside Your Emotions When Selling a Home

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