Many of you fail to achieve success in your professions. There can be some reasons for it. Finding out the appropriate reasons for the same and working on those areas will take you closer to eliminating failure and reaching success. Real estate agents too face such problems. In this article, Dc Fawcett analyzes the reasons for failure of real estate agents.
Dc Fawcett Guide – Real estate agents fail in the beginning
This is a fear psychology. Many real estate agents have starting trouble. When they enter the field, they don’t come with proper training and skill set. So, Dc Fswcett Said that,even before they enter the professional arena, they have to sharpen their skills and possess the required knowledge.
Lack of motivation
Dc Fawcett Says, Many real estate agents don’t find anything challenging to do in the beginning. They may develop the fear that they will not get good contracts and stop updating themselves. Suddenly when an opportunity knocks the door, they find that they lack the competencies to carry out the task.
Lack of good presentation skills
Real estate agents don’t present their listings properly. They don’t spend much time and effort to come up with hard hitting and attractive listings. Such poorly presented listings sit in the market for a long time. So real estate agents must add images and videos to their listings. They have to come up with alluring content to market their homes. If they are not able to do so by themselves, they must hire professional content writers, photographers and top video coverage professionals. Believe me, the money is worth it.
Doing too many things at a time
Doing too many things at a time will result in a mess. Agents must concentrate on one task at a time and do that well. This will eliminate tension and increase focus.
Disliking to prospect and to follow up
Many real estate agents hate certain things about their jobs like making calls. They feel some kind of discomfort when they make calls, especially uninvited calls. Also, they hate to follow up on clients. Ultimately they don’t build up a strong or good client base in the end. They must thus get over these psychological inhibitions to come out successfully.
Time management must be done efficiently. Repetitive work due to official discomfort personal problems, distractions, lack of interest in the nature of work and so on can lead to inefficient time management and to production of results lacking in quality. They can organize their work. For instance: they can work for a stretch of 45 minutes and then take a 10 minute break.
DC Fawcett Tips – Qualities of Good Real Estate Agent
DC Fawcett Says that, We would have spent very little time with real estate agent until we get into the process of buying or selling. And, many of us would be first time buyers or sellers. You would find it hard to make out an ideal agent from a substandard one.
Some quality of Real Estate Agent – Dc Fawcett
The ideal realty agent should possess sound interpersonal skills, and should be technology savvy.
The real estate agent should be proactive in the sense that they should inform you as soon as possible about your current stand in the purchasing or selling scenario. In this way you can shift your attention to a different property or another buyer. So the key is that there should be communication gap between the realty agent and the buyer or seller.
As a good real estate agent, it is very essential to give priority to the clients. The client should feel that he is having someone to rely upon.
The real estate agent should perform the work in a streamlined manner. When the sellers want to enhance the selling ability of their property the agents can guide them even with the minutest details. They don’t procrastinate and are punctual in their meetings.
Real estate agents are committed to their work and they possess lot of tenacity.
Honesty is the most important quality of a real estate agent. The agent should tell the real situation should converse in a straightforward manner. The sellers will not be stressed if the agent gives them an honest account of the current scenario.
A good real estate agent will be flexible to the requirements of the clients. The clients’ method of communication may vary and the good agent can adapt themselves accordingly.
Some Real Estate Terms by Dc Fawcett
Dc Fawcett is a real estate investor and speaker who shares tips on real estate virtually. This is a set of real estate terms as defined and elaborated by him.
Dc Fawcett Real Estate Tips – Broker price opinion
Broker price opinion is the methodology to estimate the potential selling price of a home and it is done by a broker.
It is used for real estate owned properties, pending foreclosures, asset evaluation and bookkeeping, appeal to annul lender’s mortgage insurance and so on. It is determined based on the
- Structure type of the home, size, room use, age, lot size and parking.
- Worth of like properties in the neighborhood.
- The amount of staging and renovation needed to make the property saleable.
- Degree of agreeability with local zoning necessities.
It is a loan which has a principal amount equal to 125% of the initial property value
This results in higher interest rates and interest will consume a chunk of your mortgage payments every month. Then after a period of the loan, it comes down. This is obviously very unpredictable in nature.
The 2-1 Buydown is a set of 2 initially reduced interest rate payments which increase step by step until a constant interest rate is reached.
This is offered as a loan motivator by the constructor or it is paid by the debtor initially to qualify for the loan.
Backlog refers to accumulated work which is incomplete.
Companies generally want to prevent backlogs from occurring. But a backlog can indicate various things. A rising backlog can indicate increased sales or decreased efficiency while a declining backlog can indicate decreasing sales or increasing efficiency.
Bait and Switch
A bait and switch is a process in which a lending company posts a very low mortgage price/rate. As soon as the customer comes to the shop to inquire about the rate, he/she is offered a higher rate.
This is done often by unprincipled agents or companies. Even in the world of advertising, this tactic is employed to drive business.
Balloon mortgages are similar to short term mortgages rate. For a fixed period only the interest is paid. Then the rest of the payment has to be made within a stipulated time period. This period is usually short.
Balloon loans are used for commercial purposes and very rarely for customer lending. The name derives itself from the fact that the final payment is huge or ballooned up. Balloon payments tend to be at least double of the previous payments. They often exceed thousands of dollars.
Bank owned properties
Bank owned properties are those which are taken back by the bank or any other financial institution owing to disability to sell in a foreclosure.
Properties are acquired by a bank when people fail to pay mortgages. These properties have low down payments and interest rates. They usually have poorly maintained facilities.
BBA mortgage approvals
The number of home loans collectively sanctioned by the members of the British bankers association is called as BBA mortgage approvals.
BBA mortgage approval is an important pointer to the condition of the housing market in the United Kingdom.
BMIR or below market interest rate
BMIR is the below market interest rate.
Many cities have programs for people who cannot afford to buy homes at normal interest rates. In this case home loans are offered at interest rates much below the prevailing interest rates. This is called as below market interest rate.
Below market interest rates are often 0%. Actual interest rates depend upon the home owner’s credit worthiness, loan principal and the period of the loan. The department of housing and urban development has BMIR rental programs for HUD assisted residents.
Best and final offer
The highest offer submitted by the seller to the buyer is called as best and final offer.
This usually happens in a bidding war. The buyer is asked to submit the best and final offer to the seller. This is usually done by all bidders or just the top bidders.
Dc Fawcett Tips – How To Keep Safe From Real Estate Scams And Fraud
One cannot afford to be gullible in case of a real estate transaction. The con artists are also former real estate professionals who make use of the real estate procedure.
Here are some warning signals for you to safeguard with regard to real estate scams. You can be judicious while you are dealing with purchasing, renting or selling any property.
- You should never carry out the deal in a fast manner. It may be a very good deal and you want to grab it, but you have to ask questions. If you are a renter you should get inside the property rather than seeing the house just from outside.
- Some former real estate agents may be so convincing that you won’t believe that they are con artists. They will have a page in business to business social media platforms like LinkedIn and it would give outdated info or wrong info that the victim believes to be correct. There are also unlicensed professionals who are still in the process of selling properties. So it’s wise that you ask for the license of the agent.
- Some sellers will consciously sell off properties that have issues. But they will give a picture as though the property is seamless. So it’s prudent to pose as many questions about the property including the reason for selling off the property etc.
- Be sure of what you are involving yourself into. The key is to carry out the homework and get a professional and legitimate real estate agent to help you in the whole procedure. You can get property details through a title company. This helps you to cognize who is adhering to law in case of owning real estate.
- You may have a feeling that there is something wrong but you would not have paid heed to your gut feeling. So the key is you should not ignore your gut feeling. There are some real estate agents who make the home buyers to give false details so that the loan application looks good. You may get the deal across but that implies that you also got involved in the fraud. So it’s good to say a big no to a transaction if you are not comfortable with it.
- One has to be extra careful in case of scams related to rentals. This is due to the reason that this is the only fraud where the attorney is not involved. In case of purchasing houses it’s a different case. Banks are extra careful that you don’t involve in a purchase deal where you are not the owner of the property.
When you have a partner these are the suggestions to stay away from real estate scams:
- Partnering is good when you have dependable partners in lucrative markets.
- You can put forth some prudent questions to your partner including the reason for the deal being good, how can you be safeguarded from the partner going away with your money etc.
- If a person offers a deal ask your real estate attorney to analyze it carefully.
DC Fawcett Reviews– A Look Into Real Estate 2017
DC Fawcett says that Life is full of surprises, so is the industry of real estate! Seeing that, political disconcerts, social ambiguity, and international instabilities have had a plunge in 2016, real estate enthusiasts and home buyers are frantically looking forward to a change in the year of 2017.
We’ve crossed a month and half-way through March now, so let’s have a look at how this one and a half months have been.
By now you would have heard this several times, 2017 is going to be the best year for investing in real estate, real estate activity is taking heads. The question now is whether or not the increased real estate activity reported in January, February and March will continue through the year.
During the month of January it was predicted that you can expect transparency in the property market and in the month of February it was said there will be a decline in the interest rates.
This is a rough data, most importantly this is not the thing that exactly happened, so it is always good to be on your guard and be double cautious because even the slightest mistake in real estate can bankrupt you.
- Choose a healthy market
- Study the location carefully
- Look for growth drivers
- Pay the right price
- Don’t follow the herd
- Have a strategy
- Do the paper works right
Irrespective of the kind of real estate activity you are involved in, it may be selling a property, buying a house or investing in a commercial or industrial property, you should make sure that you are tagging along the housing trends and know about commercial real estate that could have an impact on your real estate activity.
A keen watch on the pulse of the real estate market is said to help steer clear of being left out in the cold by growing interest rates or a widening gap between supply and demand.
Dc Fawcett Tips – Now let’s see some points for purchasing a home in 2017.
There are a few fortunate people who can make the entire payment in cash. But for the others, financing comes to the aid. But, you need to furnish a decent credit to avail the mortgage. Your ability to furnish a good credit score makes it possible for you to avail a mortgage. When you cannot furnish a decent credit score, you might be turned down the mortgage.
When you avail of more loans, there is every possibility that the debt outweighs the credit. There are lucrative mortgages which would come up, and you should not miss it just because you have severe debt damaging your credit score.
You can get a fine picture of how much you can afford through the process of mortgage pre-approval. Just see to it that your pick of property caters to your budget. Being conscious of every penny that you spend, you can ignore the properties that are beyond your affordability. Thus, you can avail of the option to purchase a property in the community that best suits your financial stand.
For the first time buyers, there is no inkling of a doubt that, for the financing to be done, a mortgage lender has to be approached for consultation. You need to come to terms with the money you can afford and then get into the process of buying a home. You need to have a sound knowledge of the market in the vicinity. You know your priorities better when you work with a realty agent.
Purchasing a home:
Always there is a prevalent uncertainty about the value of the houses, but when you make an informed decision to purchase a home, you are happily in the home thereafter.
The Price you have to pay for financing the home buying generally exceeds the home’s actual value. Be versatile regarding the mortgage alternatives and other expenditures.
The House may be offered for a certain price for which much care is given. The proposal to purchase a home involves both the cost and the terms. The terms require much additional amount to be shelled out in certain instances.
Retaining a property without insurance is one of the most foolish things that one could do. The insurance acts as a shield during untoward incidents that affect and damage the property.
The Closing process comes with different terminologies as Settlement or Escrow. It is no more manual in most of the places, and there is increasing computerization of the process.
The process of home purchase requires you to be financially sound. Following the steps that are listed above will make things easy for you to purchase a home. A bitter surprise should not spring on you, and you need to take every measure to see to it that you clear the process in a hassle-free manner.
Dc Fawcett Reviews on Real estate agents must review their own work and identify areas where they are lacking in. They must strive to work on their areas and decrease the probability percentage of failure. Everybody loves success and real estate agents are no exception to it. They must read this review by Dc Fawcett which will be beneficial and help them to correct a few areas.