Christine Markow

Sri, you seemed to have received plenty of good feedback for your question. If you are still interviewing agents, I'd be glad to share with you my marketing plan as well!

Christine Markow
ERA Statewide Realty
Office: (908) 874-7797, ext 519
christine.markow@era.com
http://www.newjerseyhousehunt.com - Tue Sep 30 2008, 13:11

KP, as many agents have mentioned - when going to show the house the real estate agent should explain first and foremost the 4 different types of relationships you can have with a licensed realtor in NJ. While previewing the house, the realtor should've asked some questions with regard to your motivation - and your feedback on the house (especially if the agent works for the listing broker). If no buyer's agreement was signed between you and the agent, you are not obligated to work with them - however, as mentioned, be upfront and honest with them, explain that for whatever reason you would like to interview a few buyer's agent before committing to exclusively working with one. If an agent knows this, going into it, they'll either request your business by having you sign a buyer's agreement OR at least have more realistic expectations to getting paid or not.

I can't speak for all agents, but I enjoy the education process with first time homebuyers and may be inclined to still show you the house without the obligation of definitely gaining your business. Purchasing your home is a big investment and you'll need to be comfortable with your agent as they are representing you and your best interests.

To answer the "shopping for banks" - if you're still searching for a lender, I'd be happy to send you some more information as to what to ask lenders while interviewing them. Again you want to have feel comfortable, and they should be upfront about any costs associated with obtaining a mortgage through them and walk you thru the basic steps of a transaction. FHA is a "popular" loan to receive and a lender can explain the purchase price maximums- while ideal for first time homebuyers, there aren't any income requirements that I am aware of.

A good link to get more information about the tax credit visit: http://www.federalhousingtaxcredit.com/faq.php

Your realtor should be able to pull the most current property tax information on any property of interest...

If you have any other questions, please don't hesitate to contact me!

Christine Markow
ERA Statewide Realty
Office: (908) 874-7797, ext 519
christine.markow@era.com
http://www.newjerseyhousehunt.com - Tue Sep 30 2008, 12:55

Jen, for exposure purposes I would definitely suggest working with a real estate agent if you are bordering the amount you owe vs.the market value of your home. In either case, at least interview a few agencies. Most will be willing to share with you a market analysis for your home and explain their marketing strategies. While different brokers offer similar services, the individual agent's knowledge in all the possible services is another story. While each agent has their strong sales skills, they may vary in terms of what you're looking for in how you'd like your home marketed.

As for the commission - in the state of NJ all commissions are negotiable and service should not be limited by the % offered. If there is a large inventory of similar condos up for sale in your area, it is said some Realtors (not all) would choose to show their clients those homes that offer a higher commission FIRST. So commission may assist in the exposure of your home.

If you interview Realtors, please don't hesitate to discuss these questions with them. I'd be glad to sit down and discuss some of my possible solutions to these questions and explain how I work, (free of charge/obligation). As mentioned, I'd recommend having a few realtors come over and do the same if you are still unsure. In either case, please don't hesitate to contact me with any additional questions!

Christine Markow
ERA Statewide Realty
Cell: (908) 444-3106
christine.markow@era.com
http://www.newjerseyhousehunt.com - Tue Sep 30 2008, 08:45

Currently I am looking for Spanish/English speaking agents... - Mon Sep 29 2008, 12:49

Rene, there are several newly constructed homes in Phillipsburg (some 4 bedrooms range from high $300K - mid $600K). If you aren't working with a realtor, I would suggest teaming up with one. They can help monitor new listings and track down all available properties that best meet your search criteria for you. Let them do the work to help find your "perfect" home! If you have any other questions or would like some assistance with your search, please don't hesitate to contact me!

Christine Markow
ERA Statewide Realty
Office: (908) 874-7797, ext 519
christine.markow@era.com
http://www.newjerseyhousehunt.com - Fri Sep 26 2008, 07:21