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Dany, Other/Just Looking in Austin, TX

Things we should know for our first transaction/closing

Asked by Dany, Austin, TX Mon Oct 25, 2010

I everyone !! ;-)
I recently got my Real Estate License and the fact of thinking about my first transaction really scares me :( ..
So I thought that yuo could help me to clear up some dark points I still have regarding this process. I would like to be prepared when meeting my first clients and I thougt that maybe you could give me some feedback in regards of what clients usually ask about the property they are interested in, besides from the information we can get from the MLS. I really appreciate your help :) !!
Thank you very much !!!
Dany.

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Talk to other agents in the field and also call a title company and ask if you could sit in on one of their closings for training . This is a huge help so you can review how the closing part works. I also agree with Lynn- your broker should help you with training.

Best of luck to you!!

Nanci
2 votes Thank Flag Link Mon Oct 25, 2010
They want to know that they are getting a great home at a great price, especially in this market.
Deliver this, and it's a win-win!

From your MLS research you'll do, you can determine what a "great price" is for most any home (so long as you know exactly what you're looking for in your due-diligence period). From your comments in your question, it appears you do...

So, the "great home" is your first and primary focus.
This is where (You) ask the questions so you may determine what home will best fit their needs. Just as well, you'll need to know what resale features play a role in market values, per prospective home and it's neighborhood "averages".

Depending on your area, price range, etc. this could be anything from the difference in one bathrooms and two, two garages or three, 1/4 acre Lot or greater (or less), open kitchens, vaulted ceilings, one story, two, or multi-level, mostly updated or commonly outdated, pier and beam or slab, awkward Lot shape, corner Lot, road noise, high traffic/semi high traffic, school proximatey, walk-score, convenient access or burried in a neighborhood, the values of each floor in a skyrise and it's direction/view value, which direction the home faces per the afternoon sun ~V.S.~ the morning sun...

and the list goes on and on.

Once you get going with your license, you should come by my office some time and I'll show you how Keller Williams helps their Agents with all of this. Whether you've chosen a Brokerage or not, it's never a bad time to take a better step in the right direction for yourself. It's always free to explore your options, and trust me, your buyers will definitely want to explore their options when making such a big financial committment. And, so should you.
Feel free to ping me on this link when you are ready to explore.
http://www.shawnmon.com/atj/user/CareerFormGetAction.do
Web Reference: http://www.ShawnMon.com
1 vote Thank Flag Link Mon Oct 25, 2010
Make sure to check the info on the MLS against the Travis County Appraisal Districts info. You can click on the Realist link on the right of the MLS listing or go to the tcad website.
Web Reference: http://praustin.com
1 vote Thank Flag Link Mon Oct 25, 2010
Ok, make sure you have tax info, their insurance info,hoa, etc. keep up with the title co and their lender to keep yourself informed and all parties informed. Never say how long you have been in the business, say
1 vote Thank Flag Link Mon Oct 25, 2010
Had one more thought... You had to review forms in the courses required to get your license. Make certain you are familiar with them, to the point that you are able to walk anyone through them who may not know a thing about real estate, contracts, etc.
1 vote Thank Flag Link Mon Oct 25, 2010
I'm sure there are a few agents you know who are successful. Buy one or more lunch or coffee, as your questions.

Lynn is right, as well - you have a broker, get her/him to pitch-in.
Web Reference: http://www.crowehomes.com
1 vote Thank Flag Link Mon Oct 25, 2010
Best confer with your broker who probably has some type of training class for new agents.

Good luck with your new profession !

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
1 vote Thank Flag Link Mon Oct 25, 2010
I am not sure why my answer was deleted, but you have a sponsor broker.
Best things to do is to speak with the broker for direction, ask about a mentor, shadow an experienced agent, have someone review your offer and ask questions.
If showing clients properties, have them ride with you so you can ask for feedback on properties shown, listen to what they are saying, adjust your property parameters and ask questions.
Asking questions is very important with the only wrong question being the one that is not asked.
If nothing else join a brokerage that offers support for new agents, it most likely will not be the one offering the highest commission split.
0 votes Thank Flag Link Wed Nov 10, 2010
Ask lots of leading questions so you can find out what they really want. Often what a person says is not exactly what they want. For example: "I want a 3-2-2 one story home" basic enough right. But ask how do they live? Do they entertain a lot? Are they outdoor people? Do they want a pool/hot tub? ect. Getting answers to questions like these can help you weed out homes that won't fit their needs. The best advice is to listen, listen, listen.
Good luck!
Betina
0 votes Thank Flag Link Wed Nov 3, 2010
Hi Betina & Jared :)
Thank you very much for taking time to answer my question :)
I really appreciate your help!
I concur, this is the best part of the learning process.

Thanks again!
Best,
Dany.
0 votes Thank Flag Link Tue Nov 2, 2010
Always try to find out exactly what and where your clients are looking for before you meet for the first time. Make sure you listen to your clients needs and preview all properties before you go out. This will help you feel more confident and more knowledgeable

Jared West
Broker/Owner
Team West Real Estate
512-296-0669
Web Reference: http://www.TeamWestRE.com
0 votes Thank Flag Link Mon Nov 1, 2010
Dear Dany,
You have gotten some good advice. The best is ask your Broker, that is what they are there for. Also you should know what you learned in class is but the tip of the iceberg. Now is when your real education begins. You will learn something new with each transaction, as they all have their own quirks. Good luck!
Sincerely,
Betina
0 votes Thank Flag Link Sat Oct 30, 2010
Hi Tammy, Don, Cindy and Pelin,
Thank you very much for taking time to give me your advise!!!
This is a great feedback for me to start building a working plan!!
THANK YOU SOOOO MUCH !!!! ;-)
0 votes Thank Flag Link Wed Oct 27, 2010
Dany,

I am sure you are excited about showing homes, writing contracts...If you feel like you need help ask one of your fellow realtor in the office I am sure they will be happy to help you.

You will be fine just stay focus... Most of the time MLS cheat sheet covers almost all the questions, if you do not know what they are asking for, tell them I will check that and get back to you, it is understandable just remember their questions and deliver the answers as soon as possible.

Congrats again and Good Luck!

Sincerely,
Pelin
http://www.dallashomelist.com
0 votes Thank Flag Link Wed Oct 27, 2010
A great sales person is a great listener. Probe and ask questions about their wants, needs and desires in their new home; you'll do great!

Make sure your buyers are qualified by a mortgage lender before showing properties, understand the appraisal and inspection process. Lastly read and understand the necessary contracts for the transaction.

Good Luck!
Web Reference: http://www.cyndibell.com
0 votes Thank Flag Link Tue Oct 26, 2010
Hi Dany,

Good luck on your new career. For me Real Estate is an exciting career. It gives you freedom you cannot imagine with most jobs but at the same time you are working for yourself so you need to stay focused. There is so much to learn and that process will never stop until the day you retire.

Work for a major Broker like Keller Williams or Re/Max that offers training and support. That is key to getting off on the right foot and with a strong foundation. Take the time to really listen to your clients and always put their best interests first at all times.

Good luck with your career.
0 votes Thank Flag Link Tue Oct 26, 2010
What do buyers really want?
Most buyers have in mind what they want when searching for a home. How do you know which house is right? Most homes are not going to be a perfect fit, but as long as the home fulfills most of their needs, they will be happy.

In the book, The Everything Guide to Being a Real Estate Agent by Shahri Masters, the average buyer wants the following things:
• Value: a quality home for a good price.
• Prestige: prestigious surroundings; a house to impress others
• Convenience: easy access to work, school, stores, etc.
• Security: a secure house in a safe neighborhood
• Comfort: a comfortable, “warm” home
• Aesthetics: an attractive home
• Privacy: a private location; privacy-conscious architecture and landscaping
• Entertainment: easy access to entertainment; the ability to entertain at home
• Health: climate and facilities to promote health and well-being
• Recreation: easy access to recreational facilities
• Education: an exceptional school district or other educational facilities

This list is based on a list of basic human needs created by psychologist Abraham Maslow. Most buyers will have two to three primary needs that must be met in order to purchase a home. Buyers should decide ahead of time before they meet with a real estate agent what is important to them. An agent can better help a buyer find a home knowing and understanding what the basic needs an requirements are.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL tammyhayesre@gmail.com
0 votes Thank Flag Link Tue Oct 26, 2010
Hi Shawn,
Thank you very much for your answer!!
Wow ... I have to work hard :)) ... Thanks a lot for all the info and for the links. I would love to stop by your office some time :) It seems to be a good choice :))
Thanks again!
Dany.
0 votes Thank Flag Link Mon Oct 25, 2010
Thank you Lynn and Nanci for your Good Wishes!!
I will work hard to do my best !!!
Dany!
0 votes Thank Flag Link Mon Oct 25, 2010
wow !!Tthank you very much for your answers :))
They are all very valuable for me!
0 votes Thank Flag Link Mon Oct 25, 2010
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