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Nicholas & Miriam Peters's Advice

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  • 28 Contributions
  • 0 Best Answers
  • 6 Helpful

Nicholas & Miriam Peters wrote:

Half say YES, and half say NO!

Answer
I think this really depends on the area and price range. In today's market, they are less likely to work because there are so few qualified buyers out there actively looking. We have tried open houses in the past for some of our luxury properties and found them to be ineffective. On the plus side, in a hot neighborhood you can sometimes pick up a potential buyer client while working an open house.
April 17 2011
(0)

can I fire my realtor?

Answer
If you have not signed a contract with your Realtor then you can "fire" him or her at any time. If you are under contract then it might be best to sit down and have a conversation with you agent and discuss the problems that you are having. Your agent may decided to just part ways and release you from your contract but they may decided not to as well, especially if they feel like they have already spent a lot of time with you. If you feel like they have done something unethical or "wrong" it would certainly be a good idea to bring this to the attention of your agent and possibly even your local real estate commission. Best of luck to you!
April 17 2011
(1)

Do you really need a Realtor when you buy New construction?

Response
Disadvantages, I see none. Builders are not allowed to offer a reduction of price or an extra incentive by not using an agent. However I have seen this done.Advantages, countless. We can run a CMA to base a reasonable offer (never pay list), help with selections, walk through, inspections, lenders, closing, the list is endless. A good real estate agent can make the buying process a dream come true vs a job.
April 16 2011
(1)

Inaccurate rental rates given on Zillow

Answer
I truly agree. However renters and homeowners need to understand Zillow is only providing estimates based on computer data. Clients need to allow agents to run a complete CMA with local rented and sold comps.
April 16 2011
(1)

What is included in the rate when you quote a Rent Zestimate? I.E., lawn care, appliances, utilities

Answer
Good afternoonThis question would depend on the property & management company. All rentals include a different set of options.
April 16 2011
(0)

Zestimate

Answer
Good afternoonAs I'm sure you have seen there are several properties that appear incorrect. Zestimate is a computer system and can't take into consideration options, conditions (lender or consumer owned), lot location, etc. I recommend all my clients realize this is only an estimate and to provide a better since of value order an appraisal or allow your agent to run a CMA. Please note a agent CMA is only an average
April 16 2011
(1)

$1000 Extra Cash. FREE iPad. $10000 in Options. What promos do you use?

Answer
Builders need to watch using items such as this. Gimmicks as these must be disclosed to all parties. Offered on the HUD closing statement. The NC commission has several complaints on agents not disclosing bonus or gifts. Everything offered must be disclosed. I know this does not answer the questions, but agents need to know RESPA
April 16 2011
(0)

Heard about new FHA program for Under 600 Credit Scores?

Response
Thank you for this great information. Do you know the lenders offering this product?
April 16 2011
(0)

Finding a broker

Answer
Good afternoon HomeInCharlotteGreat question. I would recommend the following:Calling or emailing several agents. Ask the following questions:1. How long have you been selling in this price range & area?2. What is your sales history?3. What is your typical percentage you negotiate off list price?4. Once we are under contract what can I expect?5. Will you be at closing, walk-through, inspections, etc.Asking questions is the most important step. You need to find an agent that is qualified (my wife and I over 400 sales in the past 5 years), heavy negotiation skills (most important part), and knowledgeable on the closing process (knows how to handle issues as they arrive). You need an agent that would be able to make this process fun vs a job. Don't be afraid to offend an agent. In all honesty if you find an agent that gets offended when you don't select him/her it was not a right fit. Most agents know and understand this is a profession and we need to act as as such.  I hope this information helps, Nick
April 16 2011
(0)

Why are appraisers leaving out legitimate comps in favor of including distressed propertis?

Response
Good afternoonThis is the banks. My mother in-law is in charge of a local underwriting department. The appraisers must follow the banks guidelines. Miles from comps, time and condition is different for all banks guidelines. The best thing I can recommend as we have done is meet the appraiser at the property, provide several comps that you may want them to consider. Do your research and make sure they are equal in every way. Also remember the appraiser has there own set of guidelines. I hope this information helps, Nick
April 16 2011
(0)