To all the agents out there that do not work with Keller Williams I have posted this video to show you just a sample of what you are missing. Profit share, something that will be a passive income for years to come even after you no longer sell real estate. Get your piece.
Until Next Time…
Ricky Robinson REALTOR Your Success is My Focus55 Madison Ave Morristown NJ 07960 973-539-1120 office Each office is independently owned and operated. Equal Housing Opportunity broker.
What will a KELLER WILLIAMS Real Estate Consultant Do For You When Purchasing Real Estate?
Before I answer that question, let me first explain that there is a distinct difference between a Real Estate Agent (about 90% of the industry) and aReal Estate Consultant (about 10% of the industry).
Real Estate Agent: Someone who acquires a real estate license, then sets about “showing, telling and selling.” They typically show a great many properties “hoping” that one meets what you want.
Real Estate Consultant: Someone who acquires a real estate license but who before the first property is shown, sets about to determine the purchasers needs and wants. This can only be done through the interview process where I ask you a lot of questions about what you want and what you would like to have. It is ONLY through this process that I can locate exactly what you are looking for and then showing you only what you want. The process saves you a great deal of time.
What is the process?
Introduction and Needs Analysis Interview. The process takes about 30 minutes to an hour. During this time we will get to know each other and develop expectations. We will also discover exactly what you are looking for in your next real estate purchase.
Buyer Agency. I will represent you in the real estate transaction. My Responsibility to you is defined as “my fiduciary responsibility” and that means that I must protect your confidential and private information at all times and to always act with your best interest in mind.
Conduct a Real Estate Search. This is the process where once your specific wants and needs are determined that I search all available resources to find the exact match you prefer. This is the process that when coupled with the Needs Analysis described above, can save you a considerable amount of time. In fact, it is not unusual that the very first property you tour turns out to be the one you purchase.
Tour Properties. It has been my experience that provided we conduct a thorough needs analysis; you will most likely discover the property that meets your needs by touring 5 to 8 properties. This can usually be accomplished in 1 or 2 days. There is no need to tour a great many properties when only a few actually match your specific needs.
I want you to buy what you love and love what you buy. I also want to be your “Real Estate Consultant For Life” and the only way I can do that is to build a life-long relationship with you by delivering on what I say I will do, providing you with what you want and when you want it and always doing these things by protecting your best interests at all times!
Preparing The Offer To Purchase. I will help you prepare the Purchase Agreement. I will also, at your request, prepare a Computerized Market Analysis on the property you desire. This will assist you in formulating a “market value” of the property based upon other properties that have sold in recent months. I will also assist you by inserting various clauses and contingencies to help protect you through the “due diligence” period before you close on the property. By “due diligence” I mean the period during which time you are applying for a mortgage loan as applicable, conducting home inspections, inspections for wood destroying insects, conducting surveys and appraisals, etc.
Negotiating the Offer To Purchase. This is where a professional Real Estate Consultant truly shines. This is where your Consultant negotiates to satisfy YOUR needs in the process. Needs in this instance means your best price for the property, closing in the time frame you desire and with all the contingencies satisfied in a timely manner. Part of this process means working with other real estate Agents and Consultants. You can rest assured that I work as hard on developing life-long relationships with other Consultants and Agents as I do on other parts of my business. This can only help my customers in the long run.
Following Through On The Details. This process has almost become a science in itself. Federal, State and Local rules, regulations and laws are making the purchase and sale of real estate very complicated. It is my responsibility to make sure the process is both completed and accurate and done in a timely manner.
The Closing. Once all details have been completed, I will walk you through the closing to reach a satisfactory purchase and on that as stated above, you will ultimately buy what you love and love what you buy and hopefully be happy with my services.
The Follow-On. Also as stated above, it is my sincere desire to not only help you with your real estate purchase but to also create a life-long relationship with you so that you feel comfortable continuing our Business AND Personal relationship. I would like for you to feel that you can call on me to assist you with ALL your present and future real estate needs whether that means marketing your property, getting ideas for updating your property and/or making repairs to your property. Being a Real Estate Consultant means being one for life, not just for the present.
Through my experience, I am in a great position to help you find the right plumber, carpenter, roofer, heating and air-conditioning service companies, etc. I would hope that you would consider calling me before selecting these type of individuals simply at random.
Personal Referrals. Personal referrals are the life-blood of a Real Estate Consultant. If you or someone you know needs the service of a real estate professional, I would hope that you would call me.
Remember, EDUCATION is what you get when you read the fine print! EXPERIENCE is what you get when you don’t. Real Estate is a serious business. Let me help you with the “fine print” to avoid getting an unwanted “experience”.
Until Next Time…
Ricky Robinson55 Madison Ave Morristown NJ 07960 973-539-1120 office Each office is independently owned and operated. Equal Housing Opportunity broker.
I wanted to write a post about why I chose Keller Williams Realty. When I decided I wanted to get my real estate license (about 2 years ago) I researched a lot of companies and I found most of them are all about building up the brand and paying fees upon fees with no real education or support system to help me as a new REALTOR this was something that discouraged me until I found Keller Williams.
My mother who was the greatest inspiration in my life worked 3 different jobs (at one point) that I thought was to keep food on the table and clothes on my back. I resented the corporate world for keeping my mom away from me for so many hours a day, but my mom told me that she she did this more for helping people and her co-workers than for herself, she never said no when her job would call and have a problem with a system and the client was getting upset, she would go back into the office. This is I think where I got my work ethic from. I’m drifting off the subject at hand but I am trying to express the reasoning for my decision, I was getting older and as I look toward my future I wanted to change my career from Pool and Spa industry (25+ years) to real estate so that I could continue to help people but not have to break my back physically to do it.
Spa Delivery Crew
Once I researched Keller Williams I found a different type of real estate company. I set up a meeting with the Market Center Administrator to discuss my options there I met “Sally” she is a great believer in customer service over profit and being a REALTOR for over 30 years she has more than her fair share of experience with different agencies out there. She asked me some great questions before we got into the business at hand I remember the first question she asked me was “Why”? why real estate? I had to think for a minute then I responded, “To help people sell their home”, she looked at me and smiled then told me”good answer” most new agents say to make money which is the worst reason to become a REALTOR. We talked for a while and she explained the operation of the office and showed me around. During this time I noticed something I had never seen in all my years of working in retail…everyone was happy and smiling, they all greeted me with a hello and welcome to the office even though I had not officially joined yet I felt at home already. The other agents in the office were all busy on the phones and computers reaching out to their clients to give them information or to schedule a meeting but they took the time to stop and say hello to me. At the end of my meeting Sally told me to sit in on one of the training classes that was going on that day and see if I liked it. I sat down in the back of the class and listened to the instructor talk about the Keller Williams Belief system it stuck with me.
The main thing I got out of it was integrity- Do The Right Thing, this is why I wanted to join this company who puts the client first. Results through people. At the end of the lecture I spoke with several agents about Keller Williams and the response I got from them solidified my decision,”it’s about the people not the sales”. I met a lot of great people that day and every day since. I credit Sally for helping me through my beginning months in real estate without encouragement and understanding about my issues as a new guy I do not think I would have stuck it out.
I am in my second year now and going strong. I have switched offices but I am still with Keller Williams and I never plan on switching. We are a family and we help each other everyday. My clients are my number one priority and always will be.
Keller Williams has grown so much in just the last few years and we are on our way to becoming the biggest and the best. When Buyers and Sellers sign with an agent from Keller Williams you can be sure that your success is our main focus and you come first above all else. To me that is a Win-Win situation and I wouldn’t want it any other way. Like my Facebook page to keep up to date on current information.
Until Next Time…
Ricky Robinson55 Madison Ave Morristown NJ 07960 973-539-1120 office Each office is independently owned and operated. Equal Housing Opportunity broker.
Why is a Zillow ( Zestimate ) so different from my Realtors numbers?
Your Realtor is using what is called a CMA Comparative Market Analysis or sometimes called a (BPO) Broker Price Opinion. We do this by researching your local neighborhood for homes that compare to yours in as many ways as possible. An example being bedrooms, bathrooms, square footage, property size, house style (ranch, contemporary, bi-level) etc.
We then look at how much those comparable homes are on the market for now, how much they went under contract for compared to asking price and how much they sold for. We then use those numbers to give you our best estimate as to what a buyer will likely pay for your home today.
All this information is in real time meaning it is based on the now and not over a period of time in the past or a future prediction. What you feel your home is worth or how much you have invested into it does not really come into play in this situation, your home is only worth what a ready willing and able buyer will pay for it. Which brings us to the Zestimate.
Please understand that a Zestimate home value is neither random nor unchangeable. I also want to make sure you understand that the Zestimate is not an appraisal. The main ingredient in a Zestimate is data and it’s broken down into three
categories:
• A home’s physical attributes that Zillow gets from both public and user-submitted data
• Tax assessments and other tax assessor information
• Past sale records for the home itself and nearby or comparable homes • To calculate the Zestimate, Zillow’s data experts run that data through a series of
computer processes—an algorithm. The data is continuously analyzed and compared with real
home sale prices, so the Zestimate model will change and improve over time, and Zestimates
will become more and more accurate
You can definitely influence your Zestimate. By correcting any errors in your home’s data,
adding information about significant updates you made to the home, posting your estimated
value and any comments, there’s a good chance your Zestimate will change.
It takes so long to update a Zestimate once I claim my home.
The Zestimate is automatically computed three times per week based on millions of public and user-submitted data points. In some cases, the altered data will affect the estimates slowly over approximately two months. The good news is that if
a Zestimate takes a bit longer to show up, it might be because you corrected or added specific
details, and those details are going to give us a more accurate starting point to determine your
home’s true value. If your updates aren’t significant enough to impact the
home’s value, your Zestimate might not change.
So in closing I just want to say that a Zestimate is just a starting point number. I feel you need to rely on a Realtor to give you a true picture of what your home is worth. I can help you with that.
proprietary reverse mortgages, private loans that are backed by the companies that develop them
Single-purpose reverse mortgages are the least expensive option. They are not available everywhere and can be used for only one purpose, which is specified by the government or nonprofit lender. For example, the lender might say the loan may be used only to pay for home repairs, improvements, or property taxes. Most homeowners with low or moderate income can qualify for these loans.
HECMs and proprietary reverse mortgages may be more expensive than traditional home loans, and the upfront costs can be high. That’s important to consider, especially if you plan to stay in your home for just a short time or borrow a small amount. HECM loans are widely available, have no income or medical requirements, and can be used for any purpose.
Before applying for a HECM, you must meet with a counselor from an independent government-approved housing counseling agency. Some lenders offering proprietary reverse mortgages also require counseling. The counselor is required to explain the loan’s costs and financial implications, and possible alternatives to a HECM, like government and nonprofit programs or a single-purpose or proprietary reverse mortgage. The counselor also should be able to help you compare the costs of different types of reverse mortgages and tell you how different payment options, fees, and other costs affect the total cost of the loan over time. You can visit HUD for a list of counselors or call the agency at 1-800-569-4287. Most counseling agencies charge around $125 for their services. The fee can be paid from the loan proceeds, but you cannot be turned away if you can’t afford the fee.
How much you can borrow with a HECM or proprietary reverse mortgage depends on several factors, including your age, the type of reverse mortgage you select, the appraised value of your home, and current interest rates. In general, the older you are, the more equity you have in your home, and the less you owe on it, the more money you can get.
The HECM lets you choose among several payment options. You can select:
a “term” option – fixed monthly cash advances for a specific time.
a “tenure” option – fixed monthly cash advances for as long as you live in your home.
a line of credit that lets you draw down the loan proceeds at any time in amounts you choose until you have used up the line of credit.
a combination of monthly payments and a line of credit.
You can change your payment option any time for about $20.
HECMs generally provide bigger loan advances at a lower total cost compared with proprietary loans. But if you own a higher-valued home, you may get a bigger loan advance from a proprietary reverse mortgage. So if your home has a higher appraised value and you have a small mortgage, you may qualify for more funds.
Reverse mortgage loan advances are not taxable, and generally don’t affect your Social Security or Medicare benefits. You retain the title to your home, and you don’t have to make monthly repayments. The loan must be repaid when the last surviving borrower dies, sells the home, or no longer lives in the home as a principal residence.
In the HECM program, a borrower can live in a nursing home or other medical facility for up to 12 consecutive months before the loan must be repaid.
If you’re considering a reverse mortgage, be aware that:
Lenders generally charge an origination fee, a mortgage insurance premium (for federally-insured HECMs), and other closing costs for a reverse mortgage. Lenders also may charge servicing fees during the term of the mortgage. The lender sometimes sets these fees and costs, although origination fees for HECM reverse mortgages currently are dictated by law. Your upfront costs can be lowered if you borrow a smaller amount through a reverse mortgage product called a “HECM Saver.”
The amount you owe on a reverse mortgage grows over time. Interest is charged on the outstanding balance and added to the amount you owe each month. That means your total debt increases as the loan funds are advanced to you and interest on the loan accrues.
Although some reverse mortgages have fixed rates, most have variable rates that are tied to a financial index: they are likely to change with market conditions.
Reverse mortgages can use up all or some of the equity in your home, and leave fewer assets for you and your heirs. Most reverse mortgages have a “nonrecourse” clause, which prevents you or your estate from owing more than the value of your home when the loan becomes due and the home is sold. However, if you or your heirs want to retain ownership of the home, you usually must repay the loan in full – even if the loan balance is greater than the value of the home.
Because you retain title to your home, you are responsible for property taxes, insurance, utilities, fuel, maintenance, and other expenses. If you don’t pay property taxes, carry homeowner’s insurance, or maintain the condition of your home, your loan may become due and payable.
Interest on reverse mortgages is not deductible on income tax returns until the loan is paid off in part or whole.
I hope this helped explain a little more on the Reverse Mortgage.
BUYING A HOME CAN BE FUN… AND DIFFICULT IF YOU DON’T KNOW WHAT TO LOOK FOR.
For those of you who have been toying with the idea of buying a home, now is the best time. Interest rates are still low but they are on the rise. Banks have begun to lighten up on their lending requirements which means more first time buyers can get into there forever homes.
There are some things for first time buyers to be cautious of though. You need to seek out the help of a REALTOR to guide you through the buying process. First you want to know about all the properties that are available out there that meet your requirements and then you need to get access to the properties which will require you to talk with and negotiate with a sellers agent, which can be an unnerving situation for some first time buyers.
Once you find a few properties you might want to see you need to schedule a time to view them then you would want to know all the details and any potential issues that may come up with a particular property, this is when an agent that works for you will come in handy they can research the property and find out if that new addition that the home has was legally permitted and inspected. Once you purchase a property you own it with all the good and bad issues that can arise. If the previous owner did get a permit for that new bathroom but did not include the new kitchen in the basement and the town finds out, you as the NEW owner would then be liable for all fines and permits to bring that addition up to code.
One thing is for sure, by looking around your chosen neighborhood you will gain a great perspective for which part of town you would like to live in, is it better to be near the schools or maybe closer to the downtown shopping. Some communities even offer a clubhouse, pools, and tennis courts just to name a few. Keep in mind of what the property taxes might be. Remember you can live on the border of one town and have much lower taxes than say your neighbors right down the street, but you would have a different school system if you have children you need to consider everything.
Once you have chosen your dream home you need to make an offer on the property that is best for you and the seller, come to a meeting of the minds as they say on price. Once that is settled you move on to the home inspection which if not performed by a qualified inspector can cost the buyer a lot of money in the future so chose wisely my friends.
Here is a short list of the buying process:
Get per-approved for mortgage
submit offer on home
negotiate with sellers agent
sign contract once accepted by seller
hire lawyer to review contract
Schedule home inspection
hire title search company
get home survey done
get home appraisal done for mortgage(usually done by mortgage company)
re-negotiate with seller based on inspection report
If home has septic system get inspection
if home has oil heat get tank inspected
if home has well water have well tested
So as you can see there is more to buying a home than just the fun of looking at homes to purchase the work really begins after the contract is signed. So remember…always use a REALTOR when BUYING or SELLING a home let them do all the hard work for you.
Until Next Time….
55 Madison Ave Morristown NJ 07960 973-539-1120 office Each office is independently owned and operated. Equal Housing Opportunity broker.
Sounds easy right? For Sale By Owner... You put a sign in your yard, put an ad in the local newspaper maybe do a craigslist posting then bam! someone looks at it and makes you an offer. If it were that easy then everyone would do it and there would be no need for REALTORS. (I know some people would like that)
Statistics show that For Sale by Owners homes sell for on average about 15% less that those who sell with an agent. Most will eventually sign up with a Realtor due to the immense amount of work that needs to go into selling a home. Here are just some of the things to do:
Professional Photos
Market analysis of homes on market and recently sold
These are just a few of the key things that go into proper marketing of a new home for sale. If left to a novice then your home could be on the market for a very long time as no one will know it is for sale or you will get considerably less money.
Now lets say that you do properly market your home. Who will be coming to see it? My guess is investors because they prey on owners to get the home for a fraction of what the open market would get, they know you have no agent and no commissions to pay so right away they are offering you less for your home as will most lookers that want to deal directly with the seller. You think you will pocket more money by saving commissions but in reality a REALTOR will likely get you about 10% more on average than you will sell for these percentages can easily be researched to prove my point.
So in closing let me just say that if you are just testing the market to see what you can get then by all means sell it yourself, but if you need to sell and need to get the most money in the shortest time with the least amount of problems then hire a REALTOR like me.
Until Next Time…
Ricky Robinson Your Success is My Focus55 Madison Ave Morristown NJ 07960 973-539-1120 office Each office is independently owned and operated. Equal Housing Opportunity broker.
It can be hard to judge how much your home is worth. What a buyer is willing to pay is in most cases different than what you may think your home is worth. Before you put your home on the market to sell or lease you should know where you stand.
If you would like to know what your home is worth in today’s ever changing market- please e-mail me at rickrobinsonhomes@gmail.com or visit my website.
Hello everyone this is my new site about Real Estate and all things backyard related. I will have articles on pools, spas, outdoor kitchens, patios, fire pits and Real Estate trends. Look for all the great articles coming soon.
years ago) I researched a lot of companies and I found most of them are all about building up the brand and paying fees upon fees with no real education or support system to help me as a new REALTOR this was something that discouraged me until I found Keller Williams.
Sounds easy right? For Sale By Owner... You put a sign in your yard, put an ad in the local newspaper maybe do a craigslist posting then bam! someone looks at it and makes you an offer. If it were that easy then everyone would do it and there would be no need for REALTORS. (I know some people would like that)
Morris & Sussex County Real Estate Blog 