How the Neighborhood Impacts a Home’s Value

Whether you’re buying or selling, accurately pricing a home requires professional assistance from someone who knows the neighborhood.

The “estimated” home prices you see posted online can be off by tens of thousands of dollars—not because they are dishonest, but because the computer programs generating these guesstimates don’t take into account the current condition of a house, the amenities that are included, the qualities of the surrounding neighborhood, and so much more.

A real estate agent’s appraisal will not only consider the selling prices of surrounding properties, as the online services do, but also take into consideration a host of other criteria. For instance, when it comes to assessing the surrounding neighborhood, the following factors can often significantly affect the market price of a home:

School quality

The quality of neighborhood schools has a dramatic impact on home price, whether buyers have school-age children or not. In the most recent study on the subject, researchers from the Federal Reserve Bank of St. Louis found that above-average public schools (those with math scores 4.6 percent better than the average) increased the value of nearby homes by 11 percent (or an average of $16,000) in the St. Louis area.

A park within walking distance

Parks are so important to families today that simply having one within a quarter mile can increase the value of a house by 10 percent, according to a new study from the University of Pennsylvania’s Wharton School.

Stores nearby

The impact that retail areas have on home values depends on the type of community. According to a study recently released by the Massachusetts Institute of Technology, homes in urban areas sell for six percent to eight percent more than average if they’re within a quarter mile of a retail cluster (shops and restaurants). However, in suburban communities, it’s the homes that are a mile from any retail centers that sell for the most (homes located closer than that actually sell for eight percent less than average).

Freeway access

Because we’re a car-oriented society, most people are willing to pay more to live within a couple miles of an on-ramp to a major highway or freeway, which saves gas and speeds commute times. However, if the home is located too close (within a half mile of the freeway), the associated noise and air pollution can push the price in the opposite direction.

Vacant lots in the vicinity

Being surrounded by vacant land can be a good thing in rural areas, but it’s usually a negative for urban homeowners. A recent Wharton School study found that higher concentrations of unmanaged vacant lots in an urban neighborhood drag down the values for surrounding homes by an average of 18 percent.

Proximity to nuisances and environmental hazards

Two recent studies (one from an Arizona assessor’s office, the other by the University of California Berkeley) show that homes located near a landfill or power plant usually sell for four to 10 percent less than more distant homes. The same can usually be said for homes located too close to manufacturing facilities—especially those that make lots of noise or produces noxious odors.

Neighborhood foreclosures

According to a recent study by the Massachusetts Institute of Technology, the value of a home decreases by one percent for every foreclosed home within 250 feet of it. Why? The lower sales prices of foreclosed homes can quickly drag down the neighborhood’s comparable prices. Plus, the owners of these properties usually don’t have the money or interest in maintaining them after they go into foreclosure, which can create an eyesore for all the other homes in the vicinity.

Percentage of homeowners

Are there more owners than renters living in the neighborhood? If so, property values are usually better than average. Homeowners tend to take better care of their property than renters or landlords, which improves the curb-appeal for the whole community.

Public services

Some communities have a wealth of quality public services available to them—including regular street cleanings, scheduled street repair, graffiti removal services, landscape maintenance, neighborhood beautification efforts, and more. Needless to say, homes lucky enough to be located in those areas typically command higher property valuations.

Home sellers can use these factors to justify a higher asking price. Buyers can use them to try and negotiate something lower. However, when it comes to attaching specific dollar amounts, that is something best left to your real estate agent, an objective professional with a deep understanding of the local market.


Posted on January 25, 2018 at 9:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , , , ,

Refinancing: What you need to know

Thanks to all-time-low interest rates, the number of homeowners refinancing their mortgages is at an all-time high. Of course, no one should refinance just because everyone else is doing it. But, for many homeowners, the benefits are simply too hard to ignore any longer.

Save money each month. According to Freddie Mac (The country’s largest purchaser of home mortgages), the average homeowner who refinances is able to cut their monthly payment by $108 (almost $1,300 per year) for a $200,000 loan.

Save even more in the long run. If you currently have a 30-year mortgage, refinancing with a 15-year version can save you thousands of dollars in interests over the life of the loan, plus allow you to build equity in your home faster than ever.

Switch to a fixed-rate mortgage. Refinancing with a fixed-rate mortgage gives you the security of knowing that your monthly payment will remain steady, regardless of whether lending rates rise or fall in the years ahead.

Access emergency funds. Something the mortgage industry calls “cash-out refinancing” allows you to take out a new mortgage for more than your current principal balance and use the additional money for other expenses (remodeling, college, a major medical procedure, etc.). Of course, this option should only be considered if you have a real need for the money and a solid plan for paying it back.

Consolidate debt. While consolidating credit card debt under a home loan may not be wise (unless you have a plan for controlling any additional spending), refinancing to consolidate two mortgages at these record-low rates can provide significant savings in both cases.

Things to consider beforehand:

Before moving ahead with a refinance of your own, a number of factors need to be considered (and numbers crunched) before you can determine how much you’ll actually benefit and if you can qualify for the best rates:

Closing costs. The fees associated with refinancing your mortgage are called “closing costs” and generally add up to somewhere between three and six percent of your loan amount (between $7,500 and $15,000 for a $250,000 mortgage refinancing).  While there are ways to lower some of those costs, you’ll still want to weigh those expenses against how much you stand to gain.

For example, let’s say you figure you’ll be able to save $100 per month by refinancing, and you’ve calculated the closing costs at about $10,000. That means you’ll need to continue living in the house for at least eight more years before the savings surpass the closing costs. In the mortgage industry, this is referred to as the break-even point; and the longer you continue living in the house beyond the break-even point, the more money you’ll save.

Your credit score. It depends on the circumstances, but most borrowers will need a credit score of 700 or higher to get access to the best rates and closing costs. To determine your score, get a copy of your credit report from Experian, Equifax and TransUnion. (Why all three? Because, if there’s any difference, most banks will use the lowest score.)

Your current level of home equity. To qualify for refinancing, your current level of “equity” (the difference between the market value of your home and the balance of your current mortgage) typically must be 20 percent or more. That means, if the market value of your home is $250,000, the remaining balance on your loan would have to be $200,000 or less.

Pre-payment penalty. Check to see if your current mortgage includes a pre-payment penalty for refinancing. That would likely make refinancing too expensive even at these record-low rates.

The importance of timing

Mortgage rates have sustained record lows over the last few years, and they will likely stay relatively low for the next few years. However, even a small increase can make a drastic change in the amount of money you will pay over the duration of your loan. Getting the lowest rate you can, will benefit your finances over the long-term.

Getting the process started is easy. Begin by checking your equity and credit score, then crunch the numbers using one of the many online mortgage calculators.

If the initial results look promising, feel free to ask me for a recommendation on a reputable lender (or mortgage broker) who can provide you with an actual quote.


Posted on January 23, 2018 at 9:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , , ,

Why So Many Americans Are Either Upsizing or Downsizing

According to two recent surveys that took industry watchers by surprise, many family homeowners are putting frugality aside and up-sizing to new houses that average as large as 2,480 square feet (an increase of as much as 13 percent from the year before), and sometimes exceed 3,500 square feet in size.

Meanwhile, millions of baby boomer homeowners are rushing to downsize—with some 40 percent of Americans between the ages of 50 and 64 saying they’re planning to make a move within the next five years.

It’s a tale of two very different segments of the population making dramatic shifts in their living accommodations to find the housing solutions that best suit their needs: one up-sizing while the other downsizes.

With so many baby boomers now nearing retirement age (8,000 Americans turn 65 every day), it should come as no surprise that the number of prospective “downsizers” exceed the number of “up-sizers” by three to one. With their children gone, these aging homeowners are interested in reducing the amount of house they need to care for, and are eager to bulk up their retirement savings with any home-sale profits.

As for why many families are choosing to up-size so substantially after years of downsizing or staying put, experts point to the extremely low interest rates and discounted home prices available today, and theorize that many families now feel confident enough about the economy to move out of homes they outgrew years ago.

If you’re considering upsizing or downsizing, here are some facts to consider:

How such a move can impact your life

The most common benefits of downsizing:

  • Lower mortgage payments
  • Lower tax bills
  • Lower utility bills
  • Less maintenance (and lower maintenance expenses)
  • More time/money for travel, hobbies, etc.
  • More money to put toward retirement, debts, etc. (the profits from selling your current home)

The most common benefits of up-sizing

  • More living space
  • More storage space
  • More yard/garden space
  • More room for entertaining/hosting friends and family

Negative impacts:

  • Upsizing will likely increase your living expenses, so it’s important to factor into any financial forecasts
  • Downsizing will require that you make some hard choices about what belongings will need to be stored or sold

Other impacts to consider:

  • The loss of good neighbors
  • Lifestyle changes (walking, neighborhood shopping, etc.)
  • The effect on your work commute
  • Public transit options

Buy first, or sell first?

Homeowners considering this transition almost always have the same initial question: “Should I buy the new home now, or wait and sell my current place first?” The answer is dependent on your personal circumstances. However, experts generally recommend selling first.

Selling your current home before buying a new one could mean you have to move to temporary quarters for some period of time—or rush to buy a new home. That could prove stressful and upsetting. However, if you instead buy first, you could be stuck with two mortgages, plus double property tax and insurance payments, which could quickly add up to lasting financial troubles.

If you need to sell in order to qualify for a loan, there’s no choice: You’ll have to sell first.

Another option:

You could make the purchase of the new house contingent on selling your current home. However, this approach can put you in a weak bargaining position with the seller (if you can even find a seller willing to seriously consider a contingency offer). Plus, you may be forced to accept a low-ball offer for your current house in order to sell it in time to meet the contingency agreement timing.

The truth is, most home sales tend to take longer than the owners imagine, so it’s almost always best to finalize the sale, and do whatever is necessary to reap the biggest profit, before embarking on the purchase of your new home.

When to make the transition

Ideally, when you’re selling your home, you want to wait until the demand from potential buyers is high (to maximize your selling price). But in this case, because you’re also buying, you’ll also want to take advantage of any discounted interest rates and reduced home prices (both of which will fade away as the demand for homes grows).

How will you know when the timing is right to both sell and buy? Ask an industry expert: your real estate agent. As someone who has their finger on the pulse of the housing market every day, they can help you evaluate the current market and try to predict what changes could be coming in the near future.

Even if you’ve been through it before, the act of upsizing or downsizing can be complex. For tips, as well as answers to any questions, contact me any time.


Posted on January 19, 2018 at 9:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , ,

Relocating Your Home to Advance Your Career

Many of us dream of getting a better job. But when a promotion or new job opportunity comes with a request to relocate, the result can be very disruptive to your home life. There’s a lot to consider when making this kind of move, such as do you have a home to sell? Are you planning to rent or buy when you relocate? Is your employer covering some of the costs of your relocation? Should you hire a moving company or handle the move yourself? Following is an overview of some of the most important factors you should take into consideration when relocating.

Assessing the situation

The idea of moving to a new area and into a new job can be very exciting, but you’ll want to assess the situation carefully:

  • Do your best to make sure the job is a good fit, the boss is a good personality match (and plans to stay long-term), and that you’ll be comfortable in your new role for at least three years.
  • Meet with a human resources manager to make sure you understand all the details of the relocation package.
  • Thoroughly research your destination to ensure it’s a good fit for your entire family, and that there are other potential employers in the area in the event your new job doesn’t work out.
  • Use one of the online cost-of-living calculators to determine if there’s a significant difference between what you pay now (for rent/mortgage, utilities, groceries, gas, insurance, and more) and what you can expect to pay in the new location.
  • If your spouse works or is planning to enter the workforce, he or she should apply for jobs in the area to test the employment conditions.
  • Ask your real estate agent to perform a detailed market analysis to estimate the value of your current home.
  • If you live in an apartment, review your lease carefully to determine if you are facing any penalties for moving out.

Renting versus buying

Once you have made the decision to relocate it’s time to consider your housing options—not only where you live and what type of home you want to live in, but whether to rent or buy.

Financially speaking, it makes more sense to buy today than to rent in most markets. According to the latest research on the subject, it costs 15 percent less to own a home than to rent an apartment in the current economy. That said, renting may be a better option if:

  • You can’t decide where you want to live.
  • You don’t qualify for a home loan.
  • You need to keep your current home and can’t afford a second home.
  • You’re moving to an area where home prices are extremely high (e.g., New York City, San Francisco, Orange County).
  • You’re not yet certain whether you’ll want to stay long-term in the new location.

Moving your belongings

Fewer and fewer companies are offering to pay employee moving costs today, which means it may be up to you to arrange for one of the following options:

  • Hire out the entire process (the moving company does all the packing, loading, driving, and unloading). Expect to pay between $6,000 to $8,000, on average.
  • You pack all the boxes while the moving company does all the loading, driving and unloading. Expect to pay between $3,500 and $5,500, on average.
  • You rent a truck and do all the packing/unpacking and driving. Expect to pay between $2,000 and $3,000, on average.

Making the move easier

Relocating can be exhilarating, but also extremely stressful—especially if you have school-age children or teens. Here are four tips to make the process easier:

  • Get everyone in the family talking about their feelings and concerns. And make sure you’re doing as much listening as talking.
  • If you have children, include them in the planning and packing work to make them feel more involved. You may want to hold a going-away party for your children, to show that the move is worth celebrating.
  • If you have pets, ask your veterinarian, your moving company, and your airline (if you’ll be flying) to provide you with information, tips and any regulations.
  • To protect yourself from identity theft, only work with trustworthy moving companies; submit a change-of-address form to the post office about two weeks before your move; consider moving financial records and other personal files yourself.

Last year, the overwhelming majority of people (77 percent) who decided to move for work reported they were happy and had no regrets.


Posted on January 15, 2018 at 9:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , ,

Short vs. Long

There are short-term questions about real estate and there are long term questions about real estate.

Clients often have short-term questions like…

How much will prices go up next year? Should I sell my house this Fall or next Spring? Will interest rates go up next week?

We encourage our clients to evaluate those questions in the context of the long-term. There are decades of data on the Northern Colorado market which reveal certain patterns.

When we show our clients these patterns they feel confident and secure in the investment they have made into their home and their rental properties.

For example, the long-term appreciation rates based on up to 41 years of research are as follows:

  • Larimer County = 5.36%
  • Weld County = 4.25%
  • Metro Denver = 5.56%

So over the course of a year prices may go up a lot or go up a little, but in the long term they will stay true to these long term averages.


Posted on November 15, 2017 at 8:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , , , ,

Home Inspection: a Reality Check from a Pro

For many people, a home inspection is a hurdle that has to be overcome during the process of buying or selling a home. But, in fact, it can be a useful tool for buyers, sellers or anyone who plans to get the greatest possible value from their home.

Find out if the house you are selling has “issues”

When you’re selling a house, a pre-sale inspection can be particularly useful. By uncovering any potential problems your house may have, an inspection can give you an opportunity to address them before your first prospective buyer arrives.

According to Bill Richardson, president of the American Society of Home Inspectors (ASHI), “More and more, sellers are obtaining pre-sale inspections. This simple step can allow for better planning and lower expenses in making repairs, add value to the home, and help speed up the process and likelihood of an offer.”

In any market, a pre-sale inspection can give your home a competitive edge. Potential buyers are likely to find the kind of detailed information an inspection provides reassuring—and are encouraged to give your home a closer look.

Get to know a house before you buy it

A home is a major investment and, for many people, the greatest financial asset they have. With so much at stake, it makes sense to do what you can to protect your financial interest. Getting an inspection is a smart, simple way to do just that.

When you make a written offer on a home, insist that the offer provide that your contract is contingent on a home inspection conducted by a qualified inspector. You’ll have to pay for the inspection yourself, but an investment of a few hundred dollars could save you thousands of dollars and years of headaches. If you’re satisfied with the results of the inspection and are assured that the home you’re purchasing is in good shape, you can proceed with your transaction, confident that you are making a smart purchase.

When does a home inspection make sense?

In addition to routine maintenance and pre-sale inspections, there are a number of circumstances in which a home inspection could greatly benefit a homeowner. If you are not sure, here are a few simple questions to ask yourself:

·         Was your home inspected when you bought it? If not, an inspection would be beneficial even if your home was a new construction at sale.

·         Are you an older homeowner who plans to stay in your home?  If so, it makes sense to hire a professional who can inspect difficult-to-reach areas and point out maintenance or safety issues.

·         Do you have a baby on the way or small children? An inspection can alert you to any potential safety issues that could possibly affect a growing family, such as mold, lead or structural problems. If mold or lead is present, be sure to rely on technicians or labs with specialized training in dealing with these conditions.

·         Are you buying a home that’s under construction? You may want to hire an inspector early on and schedule phased inspections to protect your interest and ensure that the quality of construction meets your expectations.

What doesn’t your home inspection cover?

For a variety of reasons, some homes will require specialty inspections that are not covered by a typical home inspection. A specialty inspection might include such items as your home’s sewer scope, septic system, geotechnicalconditions (for homes perched on steep slopes or where there are concerns regarding soil stability) or underground oil storage tank. If you have any questions about whether or not your home needs a specialty inspection, talk to your real estate agent.

Hire a professional

If you decide to hire a home inspector, be sure they’re licensed in your state. They should be able to provide you with their license number, which you can use to verify their status with the appropriate government agency. It’s also helpful to ask for recommendations from friends and family members. Even among licensed and qualified home inspectors, there can be a difference in knowledge, performance and communication skills, so learn what you can before your hire a home inspector to ensure that you get the detailed inspection that you want.

What to ask your home inspector

Ask the right questions to make sure you are hiring the right professional for the job.

What does your inspection cover?

Insist that you get this information in writing. Then make sure that it’s in compliance with state requirements and includes the items you want inspected.

How long have you been in the business?

Ask for referrals, especially with newer inspectors.

Are you experienced in residential inspections?

Residential inspection is a unique discipline with specific challenges, so it’s important to make sure the inspector is experienced in this area.

Do you make repairs or make improvements based on inspection?

Some states and/or professional associations allow the inspector to perform repair work on problems uncovered in an inspection. If you’re considering engaging your inspector to do repairs, be sure to get referrals.

How long will the inspection take?

A typical single-family dwelling takes two to three hours.

How much will it cost?

Costs can vary depending upon a variety of things, such as the square footage, age, and foundation of the house.

What type of report will you provide and when will I get it?

Ask to see samples to make sure you understand his or her reporting style. Also make sure the timeline works for you.

Can I be there for the inspection?

This could be a valuable learning opportunity. If your inspector refuses, this should raise a red flag.

Are you a member of a professional home inspector association? What other credentials do you hold?

Ask to see their membership ID; it provides some assurance.

Do you keep your skills up to date through continuing education?

An inspector’s interest in continuing education shows a genuine commitment to performing at the highest level. It’s especially important with older homes or homes with unique elements.


Posted on November 5, 2017 at 8:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , , ,

How to Avoid the Most Common Buying and Selling Mistakes

There’s nothing more exciting, rewarding, and fulfilling than buying a home. However, it’s a complex transaction, and there are a number of steps along the path that can confuse, betwixt, and befuddle even the most seasoned buyers and sellers.

How can you avoid those potential pitfalls and common mistakes? Look to your real estate professional for advice and keep these guidelines in mind:

BUYERS:

#1 Review your credit reports ahead of time

Review your credit report a few months before you begin your house hunt, and you’ll have time to ensure the facts are correct, and be able to dispute mistakes before a mortgage lender checks your credit. Get a copy of your credit report from Experian, Equifax, and TransUnion. Why all three? Because, if the scores differ, the bank will typically use the lowest one. Alert the credit bureaus if you see any mistakes, fix any problems you discover, and don’t apply for any new credit until after your home loan closes.

#2 Get pre-approved

Before getting serious about your hunt for a new house, you’ll want to choose a lender and get pre-approved for a mortgage (not just pre-qualified—which is a cursory review of your finances—but pre-approved for a loan of a specific amount). Pre-approval lets sellers know you’re serious. Most importantly, pre-approval will help you determine exactly how much you can comfortably afford to spend.

#3 Know what you want

You and your real estate agent should both be clear about the house you want to buy. Put it in writing. First, make a list of all the features and amenities you really want. Then, number each item and prioritize them. Now, divide the list into must-haves and really-wants. A good place to start is the “HUD Wish List,” which is available online for free at https://www.hud.gov/sites/documents/WISHLIST-EN.PDF.

#4 Account for hidden costs

In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Once you find a prospective home, you’ll want to:

  • Get estimates for any repairs or remodeling it may need.
  • Estimate how much it will cost to maintain (gas, electric, utilities, etc.).
  • Determine how much you’ll pay in taxes monthly and/or annually.
  • Learn whether there are any homeowner or development dues associated with the property.

#5 Get an inspection

Buying a home is emotionally charged—which can make it difficult for buyers to see the house for what it truly is. That’s why you need impartial third parties who can help you logically analyze the condition of the property. Your agent is there to advise you, but you also need a home inspector to assess any hidden flaws, structural damage or faulty systems.

#6 Evaluate the neighborhood and location

When house hunting, it’s easy to become overly focused on the number of bedrooms and bathrooms, the condition of the home and its amenities while overlooking the subtleties of the surrounding neighborhood. Take time to check crime reports, school options, churches and shopping. If schools are a key factor, do more than simply research the statistics; speak with the principal(s) and chat with the parents waiting outside.

SELLERS:

#1 Avoid becoming emotional or sentimental about the sale

Once you decide to sell your house, it’s time to strip out the emotion and look at it as a commodity in a business transaction. If you start reminiscing about all the good times you had and the hard work you invested, it will only make it that much harder to successfully price, prepare, and market the home.

#2 Fix problems (or price accordingly)

Homes with deferred maintenance and repair issues can take far longer to sell and can be subject to last-minute sale-cancellations. These homes also often sell for less than their legitimate market value. If you simply can’t afford to address critical issues, be prepared to work with your agent to price and market your home accordingly.

#3 Don’t overprice your home (and/or refuse to negotiate)

Getting top dollar is the dream of every seller. But it’s essential that you let the market dictate that price, not your emotions or financial situation. Allow your agent to research and prepare a market analysis that factors in the value of similar homes in the area, and trust those results.

#4 Use quality photos

The vast majority of prospective buyers today search for homes online first. In order to make a good first impression, you need a wealth of high-quality photos of your home and surrounding grounds. You may also need to consider professional staging in order to position your home in the best possible light for prospective buyers.

The process of buying or selling a home can have plenty of twists and turns, but with some smart decision making, you can avoid the most common mistakes and pitfalls.


Posted on October 31, 2017 at 8:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , ,

A Quick Guide to Understanding Real Estate Designations

What do those letters and acronyms mean at the end of your real estate agent’s name? We’re here to answer that question and explain why it might matter to you. Like other professionals, real estate agents have the ability to specialize in certain areas of the business by earning designations. Those acronyms signify that they have achieved a specific designation through extensive training and education. In simple terms, designations enable agents to increase their skills, proficiency, and knowledge in various real estate sectors. They can also provide agents with access to members-only marketing tools and resources which can be an added benefit to their clients.

So why should real estate designations matter to you? Depending on what your specific real estate needs are, certain designations might mean more to you than others. For example, if you are in need of a real estate agent who can help you or your loved ones transition to a senior living facility, you may want to work with a Senior Real Estate Specialist (SRES), because they are trained to understand the unique needs of seniors and their families in this type of situation.  Or, perhaps you’re selling your LEED-certified home and you want an agent who specializes in marketing these types of properties, then you may want to work with a Certified Green Real Estate Professional (CG-REP).

The National Association of REALTORS® offers the largest number of professional designations, which are designed to provide real estate agents with specialized training in a variety of areas. Here is a list of those designations and how they benefit real estate consumers.

Accredited Staging Professional (ASP): By increasing a home’s appeal to a higher number of buyers, home staging is commonly considered one of the best ways to sell a property more swiftly and for more money. Agents with an ASP designation understand the art of home staging and use special marketing techniques to increase the market value of a home.

Senior Real Estate Specialist (SRES): If you are considering retiring, downsizing or are trying to help an aging loved one transition to an assisted living facility, a SRES trained REALTOR is qualified to help support clients over the age of fifty with lifestyle transitions and major financial decisions. This includes knowing what to look for if you prefer to age in place, finding the resources to support a move from movers to financial advisors, and more.

NAR Green Designation (GREEN): If you are looking to buy or sell  a LEED Certified home, a GREEN REALTOR will have the expertise to help you. They are trained in sustainable and earth-friendly building trends, energy efficiency, and more.

Accredited Buyers Representative (ABR): If you are a first time homebuyer you may want to find an ABR designated agent. They are specially trained to work with buyers through every step of the home-buyer process from mortgage to closing.

Accredited Land Consultant (ALC): Land experts have expert knowledge and experience in land auctioning, leasing, development, farm management, land investment analysis, and tax deferment. This type of designation is not needed for a general home purchase, but if you are looking at investment, development, or farming properties, an ALC can help.

Certified Commercial Investment Member (CCIM): Purchasing or leasing space for your business is different than finding a home for yourself or investment property. If you need a commercial space, a certified commercial agent can help you locate this type of property and negotiate the intricacies of the contracts.

Certified International Property Specialists (CIPS):  International real estate can differ greatly from domestic transactions. If you are looking to purchase a home abroad, consider working with an agent who has their CIPS and specializes in international real estate. They can provide tools for understanding the international process, access to a global referral network, and additional international resources.

Certified Property Managers (CMP): Managing a rental property can be a complicated, time-consuming process. There are specific laws you have to follow, resident screenings, 24 hour maintenance issues, and more. A CMP is specially trained to manage your residential or commercial property on your behalf.

Certified Real Estate Brokerage Manager (CRB): Managing a real estate business involves much more than overseeing an office with staff, marketing, and other resource needs. CRBs go through certification and extensive training for supervising a real estate brokerage, with essential business development and management requirements.

Certified Residential Specialist (CRS): The prestigious CRS designation is awarded to experienced REALTORS who have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate. This designation signifies one of the highest levels of success a REALTOR can achieve.

Seller Representative Specialist (SRS): Sometimes referred to as a “listing agent”, there are agents who specialize in working specifically with sellers. These agents have special training in all areas of the home selling process, providing increased professional standards and marketing expertise.

Certifications:

Military Relocation Professional Certificate (MRP): If you are a military service member or are relocating on behalf of the military, an MRP is specifically trained to address your relocation needs.  They can help you navigate through the financial process because they are aware of the benefits available to service members and can address the unique relocation needs of military clients.

Resort & Second-Home Property Specialist Certification (RSPS): If you have a destination property, consider working with a RSPS certified agent to manage the buying, selling, or management process. They have training specific to managing investment, retirement, resort, and vacation destination properties.

Short Sale & Foreclosure Certification (SFR®): Short sales are different than typical home sales because they deal directly with financial institutions. SRF certified agents are experienced at negotiating these types of transactions and are trained to work with finance, tax and legal professionals on behalf of distressed sellers.

Go here for a complete list of designations: http://www.realtor.org/designations-and-certifications


Posted on October 30, 2017 at 8:00 am
Greg Rittner | Posted in For Buyers & Sellers | Tagged , ,