Despite the many advantages of marketing properties through social media, there are still realtors who find themselves floundering in this marketing channel, with some admitting that it is not helping their cause much. Most of the time, using these social sites the wrong way is the reason for the lack of success. If you want to know how to maximize their advantages, read on.

Which Ones You Need the Most

You need to have an online presence, period. If you are a realtor, old-fashioned print advertising will not cut it anymore; you also need to have your own presence in the Web since that is where your potential customers are roaming to find the property they are looking for.

It will be beneficial to have a Facebook page, a Twitter account and even a LinkedIn presence. The first will allow you to reconnect with old classmates, friends and peers, which may just provide you with some unexpected clients and networks. The second will get you updated on what other realtors are doing and what developments are happening in your field. The last will give you access to professionals who are connected in your field.

Professional Content

One of the most common mistakes committed by realtors when using online social media sites is combining their professional life with their personal one. If you establish a business page in any or all of these sites, you need to make sure that they stay focused on the business. Leave your personal rantings out of these pages.

It is better if you have a separate page for your business and another for your personal use where you can comment on friends' posts and make personal posts yourselves. The danger with social media is that one insensitive post and everyone you knew will know what you said, and that will include your potential clients if you do not separate your personal page from your business one. And even when they are separated, be very careful on what you say and what you post in both as anyone can read them.

Make it About Your Clients

Even if it is your Facebook or LinkedIn page, never make it just all about you. Avoid talking too much about yourself if you are using the page as a marketing tool. Instead, focus on your business and encourage clients and potential customers to have their say and to ask questions. You need to make consumers feel that the page is out there for them, not to talk about you.

When using online social sites to market your properties, caution is your most important weapon. Remember that you are dealing with people who are interested in your properties, not in what you do every hour of the day. Realtors tips can only provide advice; it is still up to you to make everything work in your favor.

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1 — Not Familiarizing Yourself with the Neighborhood

A lot of home buyers make the mistake of not looking beyond the boundaries of their home. You have to realize your life will not only be confined to the four corners of your house. Get to know the community and the entire neighborhood. Familiarize yourself with the amenities like the grocery stores, parks, churches and schools. Spend some time looking at the recreational and cultural attractions in the area and determine whether such forms of entertainment suit your personality.

2 — Failure to Sharpen Your Negotiation Skills

One mistake you will probably regret for the rest of your life — or at least until you are living in your home — is not winning at the negotiations table. Buyers usually have the upper hand especially if the seller is desperate to sell. But if you fail to do your homework such as ordering a home inspection, you will probably end up paying more than necessary. Know what you can bring to the table and make sure you come out a winner.

3 — Making An Offer Based on the List/Selling Price

It would certainly be simpler to make an offer just by looking at the amount the seller is asking for. Of course, if you do this, there is the risk of over-paying. You need to know the market value of the property as well as find out the selling prices of similar houses in the neighborhood. This way, you can see whether the home is under – or over – priced and then make an offer based on your research.

4 — Signing Sales Contract Without Reading It

Many make the mistake of thinking that once you are at the closing table, there is nothing left to do but to sign the sales contract. This is actually the most crucial part of the process so you have to make sure you read every detail of the contract and understand it. It would be a good idea to hire a real estate attorney to ensure your interests are protected. Never think twice about making a clarification and make sure all your concerns are addressed.

5 — Failure to Get Home Insurance

With all the excitement of buying your own home, you might forget to purchase a home insurance. Do so at once in order to protect yourself and your property.

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Nowadays, buyers have become quite picky and you need to exert extra effort if you want to sell your home fast. Consider doing the following:

Have your home inspected

Although it is usually the buyer’s choice to order a home inspection, it would do you good in the long run to order one yourself. This way, you know exactly what state your home is in and you can be successful in negotiating the various requests for repair. In addition, you can choose to do home improvements in order to justify the list price and compete with the other sellers. With the popularity of shows featuring DIY home improvement techniques, you can add value to your home without spending much money.

Consider home staging

A lot of home sellers make the mistake of thinking home staging is simply a waste of money. But it is crucial the buyer sees themselves in your home or like what they are seeing instead of relying on their imagination. Also, a professional home stager can work wonders on your choice of palettes as well as furniture arrangement.

Rely on first impressions

It is often said that first impressions last in real estate and it still remains to be true. It is fact buyers are not inclined to look past the unkempt lawn, peeling paint and smelly carpet. You need to make sure they would like what they would see, smell and feel. If you do not have the budget for a professional home stager, then look at your home the way a stranger would do and try to be very objective. Ask help from friends and other family members and instruct them to be honest.

Provide helpful information

Another way you can lure buyers is by offering information about the neighborhood and making sure you can answer questions about the community. It would certainly help buyers make the decision to buy if they know everything they need to know about the area.

Be Upfront

You would be surprised at how many buyers prefer home sellers who are honest about the condition of the property. Although your state might not implement a full-disclosure policy, you would have an easier time selling your home if you choose to be upfront. This way, you and the buyer know exactly what needs to be discussed and there is no reason for the buyer to walk away from the table.

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Why go into flipping?

It can be a profitable business, for one. For another, it is one way of making a quick investment return. With so many low-priced properties available, flipping houses has become a viable way of earning a living. However, if you are inexperienced in this business, it will be better to learn how the process works first before you commit yourself fully to this venture.

Steps in flipping real estate

The first step you need to take is to find a good location where there are enough affordable properties that are up for sale. The best way is to start small. One property may be enough to get you going. The key is to find a cheap property in a good location where buyer traffic is high. In a choice between great location and great property, you must prioritize the former as fixes can be made on a piece of real estate, but there is nothing much you can do about the location.

The next step is to consider your financial condition. You should have a fall back, which only means you need another source of income, a steady one, while you are just starting your flipping venture. You also need a financing package that will pay for your property purchase and money to spend on renovations and home improvement.

Next, you should have a clear target market. You cannot go into house flipping without an idea of who your target buyers are. Networking and advertising are important elements when it comes to building a market. You should adapt your marketing efforts to the type of buyers you wish to attract. Identifying their income levels, social status and typical preferences should be part of your target market plan.

Renovation concerns

The properties you are going to purchase will, of course, require some fixes. Aside from the money for the renovation, you also need to have the proper contacts. You must have a good relationship with building materials suppliers, contractors and other people and businesses who will be involved in your renovation activities.

It will be beneficial if you contract services from the area where you are selling your property since going local will help you build a positive relationship with the neighborhood. The better your standing in the community, the more help you will get. The people in the neighborhood can also serve as your advertisers and marketers and you can also get information from local contractors that will help your sale.

Advertising your products

Aside from word of mouth, you should also use print publications and the Internet to advertise your properties. Creativity is a must in this area. The more attractive your advertisements are, the more attention you will get. Make virtual tour videos and take photographs of the property that highlight its strengths, rather than its weaknesses. Home flipping is all about convincing people that what you are selling is worth the money that you are asking them to pay.

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Low Interest Rates

You should take advantage of the historically-low mortgage rates being offered. In addition, such rates could drop even further based on previous years wherein there have been cyclical drops observed during December and January.

Sellers Are More Motivated

Most home sellers who are willing to put their home in the market even during the holidays are quite serious about getting rid of their home as soon as possible. Such motivation should be taken advantage of. It would be easier for you to negotiate with the seller and enjoy the best deal in the market. Also, these sellers are thinking about enjoying tax deductions if they would be able to close before the year ends.

Fewer Buyer Competition

With the other buyers busy with the holidays, there is no better time than to embark in your homebuying adventure. There would be fewer people in open houses and you would be able to dominate the seller’s or agent’s attention to ask questions regarding the home.

Faster Transactions

With the end of the year coming up, most sellers would want to take their home off the market and would be agreeable to almost anything. In addition, the agents as well as lenders would most likely have more time to work with you since most of their clients would be on holiday vacation.

Welcoming the New Year in Your New Home

You would be delighted to know most contractors are available during the holidays. Some even offer holiday discounts. Take advantage of these perks so you can remodel your home and make it ready for you and your family before the year is over.

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1 — Choose a good location

A good location will balance the poor condition of the house when it comes to selling time. Although you may need a bit more fixes, having a good location will help increase the value of the property and you will be able to recoup your renovation expenses once it is time to sell the renovated house.

2 — Check the foundations

Fixer uppers are often in rundown conditions, but the initial appearance may not tell the whole story as some dilapidated-looking properties actually have well-maintained foundations, which are the most important parts of the construction. Choose properties based more on the condition of the foundation, the roof, flooring and plumbing as these will require the biggest expenses should they need to be extensively fixed.

3 — Utilize the local neighborhood

If you need to buy building and renovation materials, purchase them from local suppliers. This will help you build a better relationship with the local residents who can help you when it is time to find a buyer. They can serve as your marketers. Also, you can get expert advice for free from those involved in the housing and building industry if you buy from local companies.

4 — Do not go overboard on the repairs

In home flipping, the main goal is to renovate a house to make it habitable, not to create a showcase property. This means that you do not need to add to your renovation expenses by spending on aesthetic add-ons. Just take care of the primary necessities like foundations, roof, floors, walls, plumbing and electrical fixtures and let the buyer take care of the look of the house.

5 — Save by doing some of the work

You can hire a contractor, definitely, particularly for repairs that require more expertise. However, if there are fixes that you can do yourself without the risk of making the situation worse and you have the time, then by all means, work on them. This will provide you with a bit of savings and can also serve as a way to pass the time if you do have ample minutes in your hands.

6 — Set a deadline

Do not work on the repairs just whenever the mood strikes you. You need to have a specific schedule when you plan to finish the repairs. However, you also need to accept that deadlines are not usually met in activities like this. But you can at least have a target date and try to stick as close to it as possible. Every day that you go beyond your deadline, there will be some form of urgency to work harder and faster and you will be motivated to finish the work in as short a time as possible to complete your home flipping venture.

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1 — You need a plan

You need to determine what you want, where you want it and how much you can afford. Those are three of the most important considerations in home buying. Determine the type of house you need and in which location you plan to live. And do not forget to examine your finances and other sources of funds that will help you pay for your house.

2 — It is better to seek the services of a real estate broker

You will have to pay his fees, yes, but you really do need a broker or a real estate agent if it is your first time to buy a house. You might think you got it all down pat, but there are things in the housing market that only real estate agents know and you are going to need their expertise if you want the whole process to go as smoothly as possible.

3 — Prices are never set

The listing price of a property is not always the actual price. You can negotiate. You can ask for a lower price if you have financing ready and if you can pay a higher down payment. If not, you can still negotiate. Your success will depend on how eager the seller is to unload the property and how many others have made an offer on the house. The more offers there are, the less likely you can bring the price of the house down.

4 — You do not need to see more than four houses

That is the maximum number of property that you should pin your hopes on. Although more choices means more options, this is not necessarily true in home buying. For one, the more properties you visit, the less the details will stick to your mind and the less effective you will be when it is time to make the final choice. If the first house you see fits your requirements and meets all your financial criteria, make an offer. Home shopping is not like shopping for clothes where you look at almost every store despite finding what fits you at the first one.

5 — Narrow your choices

Do not get into the habit of entering every property that has a for sale sign. That is why the first step is to have a plan, so you can identify the type of property you want to buy. Visit only those that meet your specifications. You will only waste time and may even end up making an offer for a property that is way beyond your means if you examine properties randomly.

6 — Ask for a second opinion

Once you have found the house or houses you want to make an offer on, ask some of the people you trust to give their opinions about your choices. Your parents, wife, husband, sibling, relatives, friends or trusted co-worker's views will help.

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1 — Read up on renovations

The Internet is the best source of information for home renovation. Spend some time researching current costs and reading up on the experiences of others who have renovated their homes recently. Asking neighbors and family members and other people you know who have undergone home repairs will also help.

2 — Have a plan

What part of the house you want renovated? Is it the whole place or just a particular area? Knowing what you want is important. You should not leave the decision to your contractor. He should take instructions from you, not the other way around.

3 — Have a budget

This is a very basic requirement that is often ignored. Most people set budgets, then go over it or completely ignore it. Do not be like them. Once you have nailed down your expenses, increase it by 10 to 15%. It is better if you overestimate as that will leave you some room to operate if there is an emergency or there are unforeseen extra expenses, as there usually are.

4 — Get the help of an expert

Even if you think you know what you are doing, it is better to get advice from someone who knows it best. Consult with a home renovator as the fees you will pay him or her will be less than the expenses you will incur should you get the activity wrong.

5 — Prioritize

If budget is tight, focus on the necessary fixes first and if there is still enough money once the much-needed repairs are done, then that is the only time you move on to the aesthetics. Structural and plumbing problems should be the first to be addressed. You should have a leak-free roof first before having new and nicer windows, right?

6 — Specify the details on the contract

Before you sign the contract with your contractor, make sure that what you want is clear. There are instances when contractors may add or do something else and then charge you for it later. Do not get sweet-talked into making additional fixes that you do not need either. Let the contractor know that you will not pay for fixes that you did not ask for.

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With consumers becoming conscious about the environment, homebuyers have also started to look for homes with sustainable features such as solar panels. Of course, you would be worried about the cost of “greening” your home. The good news is some upgrades will not cost you much. Consider the following suggestions:

• Choose low maintenance plants in your garden or backyard, preferably those which do not need to be watered often. It would also be a good idea to use plants endemic in the area.
• If you plan on re-painting your walls, make sure you use paint with zero or low volatile organic compounds. Plenty of families will appreciate such child-friendly choice.
• Install low flows showers and faucets in bathrooms for water efficiency.
• Opt for bamboo floors instead of hardwood since they reproduce much faster and are quite nice to look at, giving your home a different look.
• Make sure your home is properly insulated so check for heating leaks via the window, doors, floor and roof. There are affordable spot radiometers which you can buy and use to measure where exactly in the home the heat is leaking. Make sure you remedy the leaks as soon as you find them.

When the time comes to provide a detailed description of your home, be sure to include and highlight all these wonderful improvements you have done. Buyers will surely flock to see your home like moths to a flame. Chances are — you will be able to sell your home faster than you thought possible.

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But buying a home is not only about paying the price of the home, the real estate agent’s commission or the closing costs. You have to understand there are still other costs which you have to deal with.

Before and During Homebuying

Even before you pay for the home, you will have to deal with the cost of having the property appraised, surveyed and inspected. These are usually required by the lender to determine the property’s exact market value, location and physical condition. There is also the title insurance, mortgage insurance and home insurance which you need to apply for to protect your rights and your belongings. You should also not forget the legal fees associated with the preparation and signing of the sales contract as well as the registration of the mortgage.

Moving Costs

The cost of moving into a new home is probably the most underestimated. For starters, there is the new furniture and appliances you need to buy which are better suited for your new home. It is likely you will need to purchase new window coverings and other decorative items. You can even be tempted to buy luxury items such as a hot tub or billiards table if space permits it.

All these could break your bank and render your careful budgeting useless. A lot of people get stressed because of the expenses associated with moving and you should do everything you can to minimize such costs. Be creative, resourceful and most of all, be sure to stick to simple and practical choices.

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