Allen Brothers Houston Real Estate

Commercial and Residential Forecast from the Texas Real Estate Center

2020 Texas Housing & Economic Outlook podcast link https://www.youtube.com/watch?v=TxzG24db6oc


Posted in:Economy and tagged: 2020TexasRealEstateTrends
Posted by AllenBrothers Realtors on December 21st, 2019 4:00 PM
Typically if to be published in the MLS, the Seller agrees to pay the sales commission negotiated in an exclusive right to sell agreement with the Seller's Broker. In that same agreement, the Seller also agrees the commission payable to the Buyer's Broker. The Buyer's Broker would not receive any more commission from the Seller. So, the Seller pays the sales commission to both the Seller's and the Buyer's Broker Seller negotiated with his Broker prior to posting in the MLS. The commission amount is deductible on the Seller's tax returns, not only at the federal level but in many states as well.

The one exception is when the Buyer's Broker negotiates a commission with a Buyer in an exclusive representation agreement more commission than the Seller has agreed with Seller's Broker to pay. The Buyer's Broker charges the Buyer the shortfall if above the Seller's agreement. For the Buyer of the property, the commission amount (along with other closing costs) are added to the basis of the property, to reduce the gain when the property is eventually sold.

The proper handling of offers is critical to the successful closing of a transaction. Commissions are often thought to be negotiable at the time of the offer to purchase, which is not the case This question will explain why:
When an agent writes up a purchase agreement, can he/she put a higher commission in the contract than is stated in the MLS?
No. The cooperating broker, when acting as a sub-agent or a buyer's agent, shall not use the terms of an offer to purchase to attempt to modify the listing broker's offer of compensation stated in the MLS Rules nor make the offer contingent on the modification of compensation. The offer, however, must still be presented to the seller


Posted by AllenBrothers Realtors on May 2nd, 2019 2:24 PM
SELLERS, DON’T MAKE MISTAKES
You want to quickly sell your home for a high price. But sometimes your actions (or inactions) have the opposite outcome, leaving the listing lingering on the market. Here are common missteps to avoid when listing your property for sale.
SETTING A PRICE WITHOUT MARKET DATA. A REALTOR has access to accurate market data that show what buyers in your market are willing to spend for houses like yours. Ignoring such data because you want to make a certain amount of money can make your house hard—maybe impossible—to sell.
LIMITING ACCESS. Your REALTOR can offer suggestions for ways to make your property accessible, but start with flexible time periods that make it easy for buyers to visit on their terms. Prospective buyers won’t make an offer if they can’t visit your home.
IGNORING EASY IMPROVEMENTS. Adding fresh paint or installing new carpet can be affordable ways to make your property more appealing. And taking care of simple repairs, such as fixing a leaky faucet or squeaky door, suggests to buyers that the property has been well maintained.
USING POOR PICTURES ONLINE How are your listing photos? With most buyers starting their home search online, it’s important for your photos to be enticing.Your REALTOR can guide you to photographers who specialize in real estate photography or give you some suggestions for different angles or features to showcase.
Your REALTOR will help you identify ways to market your home and attract buyers, so you can sell it quickly and for a fair price.

Excerpted from Texasrealestate.com
Posted in:Listing and tagged: Sellers
Posted by AllenBrothers Realtors on April 4th, 2019 4:49 PM
Real estate transactions are complicated. A Texas REALTOR® will help you with the following steps and much more. In 1986 Allen Brothers Realtors pioneered Buyer Agency.
Decide What You Want
Before you start looking, make a list of what you want and assign each item a priority. Some areas to consider are the location,type of home, and age of the home.
Know What You Can Afford
• Most loans require a down payment. The amount varies(3%+), but 20% of the purchase price is typical. If you’re a first-time buyer or fall below certain income thresholds, you may qualify for affordable-housing programs. Generally, a higher down payment means better loan terms and a lower interest expense on the mortgage.
• Qualifying for a loan: A lender will determine how much he thinks you can afford based on your income, employment history, education, assets (e.g., bank account balances, other property, insurance policies, pension funds), and debt. Check your credit report before the lender does to clear up any problems.
• Your comfort level: You don’t have to spend $200,000 on a home just because the lender says you can afford a $200,000 home. Do some math and determine what you’re comfortable spending.
Make an Offer
You’ve figured out your home-search criteria and what you can afford. Now find a house and make an offer. Your REALTOR® is an invaluable part of this process. He or she will help you prepare a contract, negotiate, juggle inspections and option periods, and more.
Secure Financing Unless you’re paying cash for the home, you’ll need a loan. Keep in mind the true price of financing goes beyond the interest rate alone. Consider items such as points, total lender fees, term of the loan, and penalties for early payment. The lender will likely require an appraisal to verify that the home is worth the cost of the loan as well as a physical survey. Repairs may be required. Insurance must be purchased. All these conditions and others must be satisfied before a transaction can close.
Close the Deal
After weeks or even months of research and decision-making, you close the transaction, usually at the title company’s office. The title agent ask you to sign many, many documents and will explain each one. You’ll present a cashier’s check to the seller, sign another document that itemizes closing costs (the lender will have given you an estimate in advance), and pay your share of the closing costs. In return, you will receive a deed, transferring ownership rights to you.
Posted in:Home Purchase and tagged: Home Buyers
Posted by AllenBrothers Realtors on March 20th, 2019 4:28 PM
Digital processes are quickly transforming the way real estate and lending transactions are conducted today. On July 2,2018 Stewart Title e-closed the first real estate transaction done in the State of Texas. The notarization was accomplished over the internet through use of a web cam. e-Closings transform the closing process and provide: • Enhanced visibility and transparency to the settlement process for home buyers and sellers, lenders and real estate agent partners • Document collaboration and review in advance of the closing ceremony, allowing home buyer sand sellers to be more informed prior to the signing • Access and delivery of documents electronically to home buyers, sellers and lenders • Elimination of document execution errors • Expedited closing timeframes and quicker funding from the lender



click on link below for video



Posted by AllenBrothers Realtors on August 20th, 2018 4:52 PM

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