URBALO

The other day I was thinking about how much the technology has changed over the years and how productive a realtor has become these days. So, I decided to write about the 5 most important gadgets in a realtor’s life. It might not apply to everybody nor be the most complete, but in my opinion those tools are a must in our profession.

1. The Smartphone- this gadget is at the top of my preferences.It’s a “tool” that is absolutely necessary in the realtor’s daily life. With a smartphone, you can organize your appointments, have a TO-DO list ready to view at anytime, sync your emails, receive emails in real time, search listings on MLS, connect your phone to the laptop for an easier browsing experience, and even be able to use your phone’s infrared option as a Supra key. There are so many other things that can be accomplished with a smartphone, but I will get into that in another article.
   My preferences in terms of smartphones selection are:
   • the Blackberry models, 7000-series, 8700-series and my favorite, the new Pearl
   • the Treo phones(650,700p,700w,700wx and the upcoming Cingular Treos 680 and 750)

   The Blackberry smartphones are known for their push-email capability, an email function that seems to be better than the competition’s. But, if you would like to have more software choices and have a phone that is very close in functionality to a computer, then the Treo is definitely the best choice.

2. The Laptop/Tablet PC- this gadget needs no introduction, these days we all have a laptop or know somebody that has a laptop. I just want to point out why I added the Tablet PC next to the laptop. I find the new Convertibles Tablet PCs (a laptop that has a rotating screen that turns it into a Tablet) to be very useful in my profession. The Tablets offer the capability of annotating Web and Word documents, Excel sheets. Here is how basically I use my Tablet PC when I’m ready to meet a buyer: I sign into MLS, I choose the listings that I want for printing, but instead of sending them to the printer, I save them as PDF files, and then I write on them all the important informations that I might want to show my customer, or I can actually add a screenshot with the Map directions to the properties. After I’m done editing my PDF files containg the listings, I can just send them for print. Bottom line, I highly really recommend the Tablet PC over a regular notebook, since it has the same capabilities as a laptop, but with added Tablet functions. The learning curve is short, so there should be no major obstacles on learning how to use a Tablet PC. My recommendation here, as far as the brand, goes to the IBM X-series.

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HousingMaps.com is a Web site that collects real estate listings from Craigslist and displays them graphically on a map, basically giving you a visual to look at houses for sale or rooms for rent in your area. I found this tool very useful on finding listings that are not in MLS and have less exposure.

I think it's a great tool that helps realtors finding the right home for their customers when they have exhausted all the MLS listings.

Trulia is another website that scrapes real estate sites to find listings and brings it all together on their site. Using  an approach similar to Google maps, the properties are displayed on a map, and the searches can be narrowed down based on cities, address or zip codes.

I've been using Trulia to list my properties on it, and I found the tools on the website being very useful to me. There is one feature that I found being very interesting, Interactive Heat Map, which display the city areas with listings by showing different colors on the map, with the red color representing the area with the most properties for sale. 

Trulia's biggest edge is its partnerships with real estate brokerage companies that allows the website to pull data from many sites in order to redisplay it on a map in an easy to digest and attractive user interface.

For all of you that are using Craigslist for your home searches, I found a great tool, called Listpic, that let’s you navigate through craiglist’s postings using the thumbnail images associated with each listing. Listpic can be very useful to realtors or investors as well, since a lot of Sale by Owner properties are listed on Cragslist. 

Though the images are small, I think it is easier to scan through them in compare to the text lines. Plus, since I rarely bother exploring any listings that don’t include pictures, this site acts as a sort of filter for me right off the bat.

CHICAGO — Investing in real estate most likely won’t produce the get-rich-quick results promised by many a late-night infomercial. But for investors willing to do some homework, make a good purchase and properly manage a piece of property, the rewards can be substantial.

Various strategies can be used on the road to real estate wealth. In one, investors “flip” properties by buying a house, renovating it in short order and selling for a profit. In another, investors purchase the property with the intent to hold it for many years.

A common approach is to purchase an income-producing property such as a single-family home, an apartment building, an office or retail building or farmland with the intent to rent the property or units within it. By having tenants, investors benefit from not only any appreciation over time, but also the rental cash flow. There’s also some inflation protection because as operating costs increase, rents can increase as well.

The downside: Investment in real property — unless you’re buying shares in a real estate investment trust — isn’t as liquid as putting money into the stock market. And real estate markets are often cyclical in nature.

In fact, those averse to the risks involved with purchasing property may consider a real estate investment trust, or REIT, to add real estate to their portfolios. A REIT takes the management issue out of the equation, provides more liquidity, can spread risk geographically and also is income producing — REITs, publicly traded companies that own and manage real estate, are required to pay out at least 90 percent of their taxable income as dividends.

Make A Good First Impression

You only get one chance to make a first impression. Make sure it’s a good one. You want your home to be warm and inviting to the buyer. Clean up any clutter lying around. Stack the magazines, throw away old newspapers, and put all your loose papers in a drawer. Give your home a proper cleaning before the viewing. The more at home a buyer feels, the more likely they are to make it their home.

As a seller, you goal is to sell you home for the best price as fast as possible. Help you agent out. When the buyer enters the door, they try to picture themselves living in you home or condo. The better the buyer can see themselves living there, the better chance you have to turn a casual prospect into a seriously interested buyer.

Kitchen: A great looking kitchen can be a selling point in a house. The kitchen of a home for sale should only have the bare necessities. Think “what can I live without” and pack those items up. This will also save you time later in the moving process. The kitchen should have good aromas or no smell at all. Sinks and floors should be clean and dirty dishes out of sight. The cabinets should be wiped down and the appliances free of food and crumbs. Bathrooms: If there is a leaky faucet or toilet, get it fixed. If the tub or sink has a chip in it, get it repaired. Replace worn out or dirty grout. Make the fixtures sparkle and clean the mirrors and vanities. Put out fresh towels and coordinate them in one or two colors. Have a clean shower curtain or doors, with no mildew. Remove any unnecessary items from countertops, tubs, shower stalls and toilet tops. Keep only your most needed cosmetics, brushes, perfumes etc…, in one small group on the counter. “Bathrooms are so important,” Templeton said. “So many times a dirty faucet or dingy toilet can break a deal.” Closets: They look larger when there are fewer items stored in them. Neat, well-organized closets show there is ample space available for the new homeowner and their things. This is a great area to get ahead on packing. Garage and basement: Keep everything neat and uncluttered. Put everything away that is not part of the decor. Oil squeaking door hinges, tighten loose cabinet knobs and fix faulty wall switches. Organize or pack away tools not in use and discard boxes and scrap materials. Small rooms, problem spaces Dealing with small spaces seems to be one of the most common decorating dilemmas, according to Winter. It is not true that small items in a small room will make it appear bigger. In, fact three of four deliberately over scale items in a room will fool the eye into thinking the room is larger than it really is.

Do’s and Don’ts Of Home Showing

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Selling your home can be an exhausting experience. Last minute walk throughs, inconvenient calls, price adjustment and the possibility of being stuck with two mortgages are real concerns.

The difference between a profitable smooth transaction and a break even, miserable experience is often a fine line. In the majority of cases it comes down to the subtle know how of your professional. By utilizing the knowledge of a well-trained real estate professional, you’ll ensure the quick, profitable sale of your home.

Mistakes to avoid:

1. Refusing to Make Profit Inducing Repairs
   It always costs you more money to sell ‘as is’ than to make repairs that will increase the value of your home. Even minor improvements will often yield as much as three to five times the repair cost at the time of sale. Your agent will be able to point out what repairs will significantly increase the value of your home. Seemingly small fix up jobs can have quite an impact.
2. Provide Easy Access for Showings
   Accessibility is a major key to profitability. Appointment-only showings are the important, but use of a lock box makes them less restrictive. However there are certain considerations to take into account: your lifestyle, time frame for the desired sale and the relationship with the person representing your interests. The more accessible your home is, the better the odds of finding a person willing to pay your asking price. You never know if the one that couldn’t get a viewing was the one that got away. By developing a trusting relationship with an agent, he or she will show the home with your best interests in mind.
3. Priced Too Low/Priced Too High
   One critical reason to find an experienced professional real estate investment professional is to make sure the property is priced appropriately for a timely and profitable sale. If the property is priced too high it will sit and develop the identity of a problem property. If it’s priced too low it could cost you considerable profits. The real estate market has subtle nuances and market changes that should be re-evaluated by your representaive every 10-14 days to help you maximize your return.
4. Relying Solely on Traditional Methods To Sell Your Home
   The real estate professional who is innovative and willing to offer new strategies of attracting home buyers will always outperform those who rely on traditional methods. Demand around the clock advertising exposure, innovative lead generation methods (such as this blog). These services exist and should be offered on your home sale.
5. Market Timing/Seasonal Selling
   Just as a broker who continually follows the trends of a stock, your real estate professional continually follows trends of your home market. They will know if the market cycle is poised to net you the most money. Avoid believing that property sales are seasonal.. property is always selling.
6. Refusing to Make Cosmetic Changes
   The prospective home buyer’s first impression is the most important. Hundreds of thousands of home sales have been lost to unkempt lawns, cluttered rooms, bad stains, unpleasant odors… all the seemingly little things. Imagine you were the home buyer and clean your place from top to bottom …
7. Wasting Time With An Unqualified Prospect
   Your representative’s responsibility is to screen a prospect’s qualifications before valuable time is lost. Be sure to align yourself with the right professional and eliminate negotiating with unqualified prospects.
8. Don’t Test The Market
   Never put your property on line to sell unless you are serious. The right professional will find you buyers and if you are harboring indecision… you will blow the sale.
9. Believing You are Powerless to Make a Difference
   Be a part of the team! Take an active role with your real estate professional to see what you can do to facilitate your sale. Networking with professional peers and personal friends often results in the sale of a home. It’s surprising how many homes are sold this way.
10. Not Considering Other Financing Terms
    Cash is not always the most advantageous transaction. Income level, tax benefits and current legislation are all critical factors when considering purchase terms. Real Estate Professionals are experts at home transactions and can lead you down the path that will give you the highest yield.
11. Believing All Realtors, Brokers & Others are the Same
    With all the intricate details and critical decisions to be made concerning your home sale, should you rely on anyone but an experienced real estate professional? Many friends and family members have been estranged as a result of failing to meet expectations. Your home sale is a time consuming, effort related, difficult task. Maximize your profit by utilizing a experienced real estate professional.