Month: March 2015

Real Estate – A game of musical chairs

Every time someone new moves into DFW it is like a game of musical chairs. Each time a newcomer buys a home a chair is pulled out and no new chairs are added to the game. There are a number of factors that are driving our seller’s market and those are not quickly going to fix themselves. First, the story we have been telling for a while is builders were almost put out of the real estate business during the great recession. That source of homes is still way behind historical build rates resulting from labor and material shortages. After the 2008 slowdown, the construction labor population left the country or changed professions. Builders have been competing viciously for labor and it has been a factor in driving up prices and delaying completion dates. Without new home construction the market size does not expand.

How do I test the honesty of a Realtor?

Buying or selling a home can be especially difficult when dealing with an incompetent or disloyal Realtor. Testing the honesty of a Realtor is important. These 7 questions will help you decide who the Realtor is really working for. Visit any open home and test these questions out on an Realtor. Good or bad, the answers will show something about that agent and his or her ability and true loyalties. If the Realtor betrays the seller, they will betray you as well. If they defend the seller, it’s likely they will defend you too.

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What is the Buyers Broker Commission? How is that rate set?

I often get asked about commissions and specifically the buyers agent commission. The buyer’s broker commission or sometimes called buyers agent commission is the amount of money a seller agrees to pay the brokers agent representing the buyer as an inducement for other broker agents to show and sell your home. Typically it is defined as a percentage of the selling price and it is advertised in the agents information section of the listing in MLS. It is paid at closing and any restrictions or additional incentives are listed in the private remarks section of the listing agreement.

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