Using an escrow provides security and peace of mind for your real estate transactions. When you have an escrow, you know that no money or property will change hands until all the purchasing conditions that all parties have agreed to have been met and all the instructions have been followed.

First impressions matter in business, but especially in real estate. Anyone walking through a house or touring it virtually will be looking for ways to pass or negotiate down the price. You must help clients make sure that the HVAC, plumbing, and electrical system all work properly. Each room should look clean and decluttered with no overt damage insight.

Once the house is on the market, it may take anywhere from four to six weeks to sell. However, if the market is fairly hot, a seller could see their house off the market within a week. On the flip side, if there is a lull in the market or issues arise such as negotiation, lack of exposure, or house conditions then the property can sit on the market for months.

The selling price of a house fluctuates depending on multiple factors. The most common ones are the neighborhood and what similar-sized houses are currently selling for. Also, look at the age and condition. Do major repairs need to be done? If so, that might lower the property. And again, the market matters. Like everything else, home prices vary depending on supply and demand. Your job as a realtor is to best inform your clients about these different factors and accurately list their house.

A public tax assessor gives the assessed value for a property. This assessment typically occurs yearly for taxation purposes. The fair market value is an agreed-upon price between a willing buyer and seller. There is usually a difference between the assessed value and market value. For homeowners, the assessed value is a double-edged sword. Because, if their annual assessed value increased then their yearly taxes will also be raised. On the flip side, when selling a house it can help boost its market value.

A final walk-through is not required but highly recommended. Final walk-throughs give buyers a chance to make sure nothing has changed since their initial inspection or previous visits. Also, if repairs were requested as part of the sale offer then a follow-up visit ensures all repairs are done according to the agreement and contract.

A mortgage is a type of loan to finance a property. The majority of people are not wealthy enough to purchase a house in total. Thus, a mortgage serves as a secure loan that comes with a fixed interest rate and gets paid off over 15 or 30 years. If need be, your client can refinance their mortgage and payments in the future.

Getting a pre-sale home inspected is never a bad idea. Some homebuyers will feel uncomfortable purchasing a house without seeing a home inspection. Many will often hire their own inspector. It’s better to be safe than sorry.

The absolute first step is to get approved for a mortgage. Without being approved for a mortgage it will be quite difficult, if not impossible, to purchase a new home.