Susan Barrasso

Why is an agent necessary? To look out for your best interest.
As a Buyers Agent it is my job to help you find what you are looking for without you having to drive all over town or search ad after ad. With your criteria in hand I can put you into the Multiple Listing Service and email you whenever a listing matching your criteria comes on the market. If you are not already pre-approved for a mortgage, I have the resources and contacts to do that for you. I make the appointments and bring you to see the properties that interest you. Make recommendations on pricing, based on the comps I check out. Write and present your offer, negotiate terms, and I make sure all your I's are dotted and T's are crossed on your paperwork. I work hand-in-hand with your RE attorney, if you choose to have one and I highly recommend. I accompany you to your home inspection, make sure your bank appraisal and commitment are on time, and sit next to you at the closing. I even buy you a closing gift.
As a Sellers Agent the first thing I do is come into your home and make recommendations on how to best show your home - paint the walls, clear out the basement, replace a floor or fixtures, do a little landscaping, etc. Then I do a Comparative Market Analysis to be sure your home is priced correctly. After we have signed the contract and filled out all the legally required disclosures I put your home in the same MLS that I put my buyers - and thousands of other agents put their buyers - for the world to see. I market your home according to the promises I made when you signed on with me - local print ads, the almighty internet, including Trulia, Zillow, Realtor.com and about 40 others. I immediately broadcast your listing to all the agents in my office. Within the first 2 weeks I hold a Brokers Open House so all the agents in the area or those who have customers/clients that are looking for what you have can view your property, Then I hold a public Open House. I will have public Open Houses intermittently depending on how long your home is on the market. Market trends being what they are, it often takes several months to sell a property. Then, of course, there are the showings. My office verifies the agents and books appointments with you for them to show your home - preferably when you are not there. Buyers are most comfortable telling their agent your choice of paint color is ugly when you are not around. When an offer is made I help you negotiate the terms. I write the Purchase & Sales Agreement for the RE attorneys to review. Again, I make sure all the I's & T's are taken care of and all the pre-closing paperwork is properly signed. The seller's agency holds the good faith and deposit monies in escrow. I keep an open line of communication with the buyers agent to make sure inspections are complete and commitments are on time. I make sure any selling requirements you must fill are filled, such as smoke detector and carbon monoxide detector inspections or septic system inspections, etc. I sit next to you at the closing. And I buy you a closing gift.
Let us not forget those poor souls who are caught in the crossfire of foreclosure. If you have been served a pre-foreclosure notice I may be able to help you out. I will contact your bank to see if you qualify for a short sale. I will collect all the paperwork necessary to do that - and it is a mountain. I will list and market your property at the reduced price. I will do all the thngs for the pre-foreclosure seller as I would for any seller.
If you are a pre-forclosure buyer the procedures are the same as above with the exception of making you aware of the many facts of pre-forclosure buying - such as, you may be one of a dozen offers, and patience is mandatory as it could be several weeks before you get an answer.
Myke, I hope I have enlightened you, even just a little bit, about why you need me. Although I am quite far out of your service area I am sure you will find many "pros" who will give you the same attention to detail as I would. Good Luck! - Tue May 20 2008, 06:18

The commission amount you pay on your listing is what you negotiate with your agent when you sign your contract. However, you, as buyer, do not usually pay the commission on what you buy. That said, regarding discounts - do you go to work 5 days a week and accept a paycheck for only 4? Why would you ask your agent to do 2 jobs and not get paid what he or she is worth for each job? - Fri May 16 2008, 09:11

At a recent class on Fair Housing we were told to use the term "Older person's housing". That ought to sell a lot of units! How about "Mature community" or "Developed development" or "The speed limit". Then we can let the condo association spell out the age requirements. - Tue May 13 2008, 08:11

Susan, I agree with all the previous answers and would like to add my 2 cents. Kudos to your agent for all your showings. However, is your frustration displaced because you aren't getting any offers with all those showings? You might want to discuss this with your wonderful agent. Yes, this is a buyer's market and there are a lot of tire kickers out there, but are you doing everything necessary to draw a viable buyer? Are you priced right or has your agent been asking you to lower your price? Do you have curb appeal? Is your home neat, clean and uncluttered when the buyers do come? Be open and honest with your agent. Let him/her know how you are feeling. Good Luck! - Sat May 10 2008, 05:52

Ranny, Assuming you are not going to put your condo on the market, call your bank's loan department and ask for a pre-approval letter. The bank will determine an approximate amount of money they will lend you to buy a property. They will also tell you about their different loan programs. You may need 5% of the selling price for a conventional mortgage or 3% for FHA. The bank will need to know your employment status, financials and they will pull your credit score.
I say the amount is approximate because the bank's decision is based on the facts in front of them. For example, if the bank says that you can spend $300,000 then you may only want to spend $280,000. You still have to consider there are other costs involved in buying a property, such as closing costs or maybe doing some repairs to the new property.
Also, the bank doesn't take your lifestyle into consideration. For example, you may be a movie buff and want to see a movie every week. That pleasure could cost you $60 - $80 a month. Or maybe you have an expensive hobby or you belong to a travel club or you are a gourmet cook and mac & cheese for dinner just won't do. We all have monthly expenses that don't show up on our credit report. Only you know what your budget is and what you can truly spend for a mortgage each month. Be honest with yourself.
If you are selling your current property, then the amount you need to borrow will change significantly - if you need to borrow anything at all. Call me and I will do a free Comparative Market Analysis (CMA) on your condo to let you know what you could get for it. There is still prime spring market left and plenty of buyers out there. And if you haven't already found a property in Melrose, I can help you with that too.
Good Luck and I hope to hear from you soon. Susan Barrasso 978-902-0542 any time. - Fri May 9 2008, 06:10