Dallas Real Estate Podcast with Jerry Conklin Jerry Conklin

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report Home Equity is back in the great state of Texas. In Texas, 87% of homeowners have equity in their home, but only 37% know it. I spend a lot of my time talking with sellers helping them understand that they do have equity in their home. Why is having equity in your home a good thing? It’s important for several reasons. With only 37% of the people knowing about this home equity, the rest are missing out on a strong financial pillar they could use for them and their family. They can take out a home equity loan and use it in three major ways: Pay for college. Update your home. Kitchens always need updating. Ditto for bathrooms, bedrooms, fences, back patios, etc. “ Your home equity can help you pay for updates or moving into a bigger house. ” Move into a larger home. I’m currently working with two sellers who are going to take their equity and parlay it into their next property because the sizes of their respective families have changed. With interest rates holding steady below 4%, they’re able to take that equity and make it work for them by moving into a bigger house and moving into an area they want to be in. If you have any questions about your equity, please contact me at (214) 801-1393. I’d be happy to sit down with you and go through all of these scenarios in detail and show you how home equity can work for you. Remember, who you work with matters.

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report Before we talk about the brokerage services form, please note that this and all other real estate forms are available at trec.texas.gov. I would recommend researching this website before talking to an agent so you understand the difference between the IBS (information about brokerage services), the listing agreement (what you would use when listing a property), and the buyer’s representation agreement (what you use when you’re looking to have an agent help you purchase a home). Now, on to the brokerage services form. The main stipulations of this form include: The separate responsibilities between a broker and an agent. Namely, the broker is the one who holds your listing, while the agent is the one who represents you throughout the transaction. The requirement that all parties be treated “fairly and honestly.” The concept of an intermediary, or when the agent represents both the buyer and the seller in the transaction. How transactions should be handled and what information the agent should be communicating with you. If you’re working with an agent to purchase a home, that agent’s responsibilities are to share with you any material facts they specifically know about the home. “ The brokerage services form states the duties of an agent required by law. ” The minimum duties by law that the agent is responsible to their client for. Above treating everybody fairly and honestly, they want to put their clients’ interests above their own. It’s important that they communicate that information to you so you’re aware of everything that’s happening in that particular property. They want to answer all of the client’s questions and present any offer to you and explain the ramifications of what’s listed in the offer so you have a full knowledge of what’s going on and can make a good decision. Disputes. It’s important to have everything in writing both from an agent’s perspective and from a buyer-seller perspective so everybody’s aware of what’s expected and everything’s in writing. This helps prevent any miscommunication during the transaction and also makes for a less stressful transaction. I hope you found this conversation useful. Remember, trec.texas.gov is a good place to go for some good resources. If you have any further questions, feel free to call or send me an emai!l

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report One of the topics we get asked the most questions about by Northern Texas homeowners is the CMA. A CMA, or comparative market analysis, is used to get a valuation for a home you are thinking about selling. It comes up with the value by comparing it to similar homes that have recently sold in the immediate area. When we do CMA’s for our clients, we take the number of bedrooms, bathrooms, living spaces, amenities, and any additional features into account. We then go out in the marketplace to look for similar homes that have sold within the last six months to come up with an accurate valuation for your home. This valuation is important because it lets you know the price of your home going forward. “ A good Realtor can explain the ins and outs of your CMA. ” Many times agents will simply do a general market evaluation using recent tax data. Tax valuations tend to be a lot lower than your home’s true value (the value that you can actually sell for). It’s important for you to hire a dedicated Realtor who can help explain the ins and outs of your home's value, and find the best comparables for pricing. If you have any questions or you’re thinking about buying or selling in Northern Texas, give us a call or send us an email. We’d be happy to hear from you.

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report I wanted to take a minute to speak about the importance of professional photos and videos when marketing your home. It’s important for several reasons.  There’s a difference between professional photos and standard photos; pictures shot by a pro bring out so many more interesting characteristics and show the buyer much more value. Potential buyers will place the value of the home on the photos they see. “ Pictures shot by a Pro bring out so many more interesting characteristics. ” With more than 90% of buyers starting their search online first, you want to be sure you have professional photos and videos in your listing. Additionally, professional photographers have an eye for what buyers are looking for. Whether they’re shooting a living room, game room, or backyard patio, they know how to frame photos to get the most out of the shot and out of that room to display the value to the buyer. If we can communicate the value and get them in the house, then they’ll see that the house really does have the value that we communicated to them online.  I hope you enjoyed this topic. If you have any questions, please feel free to email me. Remember, who you work with matters.

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report If you’re thinking about buying or selling in Northern Texas, you might be surprised to know how big of a role location plays in determining a home’s value. Here are four ways that having a good location can boost a home’s value: 1. Schools. Families seek out neighborhoods close to schools for obvious reasons. Living near elementary schools is especially ideal to parents who want to walk their children to school. From a value standpoint, a location close to a well-performing school is a good decision for a buyer. Living near these schools can increase a home’s value more than $200,000, according to CNN Money. 2. Being close to areas of convenience. This is also known as the “Starbucks Effect,” based on a study that showed living near a Starbucks between 1997 and 2013 saw homes appreciate by 95% vs. 65% for the rest of the country. Living next to grocery stores like Whole Foods and Trader Joe’s increases a home’s value as well. “ Buyers are attracted to homes in a quiet location. ” 3. Being close to freeways. Having a location close to a major freeway can be a huge value to home buyers who want to cut down on their commute. If the home is closer to a freeway, that equals a shorter commute. 4. A quiet location. Houses that back up to things like nature preserves, hiking trails, or a creek offer a serene setting. Many buyers are attracted to these homes. Houses on golf courses have the same effect. We hope this information has been both beneficial and educational for you. If you have any questions for us or suggestions for future video topics you’d like to learn about, we would love to hear from you!

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report What's the difference between Realtors, real estate agents, and brokers. A Realtor is a licensed real estate agent that belongs to the National Association of Realtors. It’s one of the largest trade groups in the entire country. They’re held to a higher set of standards and adhere to a code of ethics. Not all real estate agent are Realtors,  but most are. When hiring an agent, ask if they’re a licensed real estate agent. Some Realtors can also be brokers. Unfortunately, people misuse these terms all the time. There is a huge difference between being an agent and being a broker. Brokers typically manage the office and take care of daily operations; they might even own the entire business. Agents work underneath brokers as sales people. If you’re looking to buy or selling a Northern Texas home, give me a call or send me an email. I’d be happy to answer any questions you have real estate!