Short Sales, Not Quick Sales~Onslow County NC

Being a REALTOR in Jacksonville NC can be challenging. What we are experiencing right now is a lot of potential buyers that need to get their financial life in order, so that they can qualify to purchase a home. Once that happens though and a buyer has been pre-qualified to purchase a home then the active search begins.

There are lots of Foreclosed homes on the market ranging from VA Repo’s to Bank Repo’s and then there are the short sales. Short sale homes are properties that will need the banks approval (the current mortgage holder) for a potential sale and the “owner of record” in most cases has to sign the offer to purchase. That means any offer that is made on a short sale property could take a few days for an answer of acceptance or rejection. A short sale is almost certainly NOT going to be a quick sale. And there is a pretty high probability that it will be sold “as is”. No repairs to be made, so when you have a home inspection and find something major that should be fixed, the bank is already looking at losing money and the “owner of record” will be getting nothing from the sale you may be out that money for the home inspection. So, please ask questions when you are out there looking for “a deal” it might not be quite what you are hoping for.  You need to remember that short sales are basically controlled by the bank that currently holds the mortgage, they already know they are going to lose money, they just need to determine how much of a loss they are willing to accept.  While it may be listed with a REALTOR, and the “owner of record” may be cooperating the bank has the final say, regardless of what the other parties may say.

If searching for homes in the CampLejeune, New River Air Station,
Jacksonville, Onslow County area please click here to search all active listings.

Ellen Hough, Jacksonville NC Real Estate , specializing in First time home buyers and sellers. Working with EXIT Independence Realty, 910-330-6103 (Cell)

Full Disclosure is Key~Onslow County NC

As a licensed North Carolina Realtor, doing business in Onslow County, I believe in complete disclosure of fees involved in a transaction.  There are Home Warranty companies that will pay a fee to an agent for selling a home warranty.  There are some mortgage companies that will also pay a real estate company a fee for closing on a home with a client that was referred to them.  I have no problem with people getting these incentives as long as the parties involved in the transaction are informed.  That is where the problem lies.  Some people don’t think you as a client in the transaction need to know if the agent is getting a little something extra from one of the vendors that is also in the transaction.  Any fees that an agent collects, as a result of selling something or sending a client to a vendor, are supposed to be disclosed. 

Some clients don’t care if an agent is getting a little something extra, but some may care.  It could change who you get your Home Warranty from, or your Mortgage, Home Inspection, Insurance, etc.  But shouldn’t you make an informed decision?  Don’t you have the right to know that the agent is urging you to use a particular vendor because they will get a little extra something when you close on your home?  Be informed so you can make informed decisions.

If searching for homes in the CampLejeune, New River Air Station, Jacksonville, Onslow County area please click here to search all active listings.

Ellen Hough, Jacksonville NC Real Estate , specializing in First time home buyers and sellers. Working with EXIT Independence Realty, 910-330-6103 (Cell)

Where to Hang your License?~Onslow County NC

Choosing the right company to hang your license with is probably one of the biggest decisions in your career.  Do you choose a company that claims to provide lots of training and only 50% commission, plus your franchise fee, plus your desk fee, cost of copies, MLS fees and the list goes on.  How much of that 50% do you actually get to see???  I know it’s easy to go to a company that will “pay everything for you up front” and you just pay it back as you have transactions close, what if you have trouble getting that to happen?  What if you can never get your Broker In Charge to give you a few minutes of their time when you have some questions?  Do you need to pay a fellow agent a portion of your deal if they help you?  What if you started your Real Estate career in January and it was a slow start for you, you don’t get your first closing until April.  How much of that first check are you actually going to see if you have been building up that amount of money you owe the company?

The sad truth is that there are many licensed Real Estate persons out there that are just learning as they go.  Who ultimately pays for their training or lack there of?  Their clients and them.  Especially if you don’t have the support of the Broker In Charge or are shadowing a more experienced agent.  I believe that if you find the right office you can flourish in the Real Estate industry, but you need the right environment for that.  Bigger is not always better.  Some of the smaller companies have a wealth of knowledge and are usually a more cohesive unit, meaning that you have several people that are willing to offer advise, support and guidance.  I have chosen to follow the path less traveled and believe that is the right choice for me.  I don’t like to be in an environment that I can’t trust the people around me.

If searching for homes in the CampLejeune, New River Air Station, Jacksonville, Onslow County area please click here to search all active listings.

Ellen Hough, Jacksonville NC Real Estate , specializing in First time home buyers and sellers. Working with EXIT Independence Realty, 910-330-6103 (Cell)

You Passed the Test, Now What???~Onslow County NC

Of course everyone that is trying to get started in the Real Estate field, I would think, would like to present themselves as competent and professional.  I have found that sometimes it is merely “window dressing” or “a show”.  When you get right down to it some people just don’t have a clue what they are doing.  They have taken the required amount of class room hours, passed that class test and then managed to pass the state exam.  Then what?  Do they automatically know how to sell a house?  Work with buyers?  Find qualified service providers, i.e. Mortgage Brokers, Home Inspectors, Attorney’s or Title Companies, etc.. 

While it may seem as simple as googling what you are looking for it is really not that easy.  I have had dealings with some providers because my clients really thought that they were getting a deal and those transactions have rarely, if ever closed on time.  My clients get stressed and aggravated with the process and really wonder if this is what it’s like to buy a home then they will not do it again.

Newly licensed persons need to keep learning, building relationships, keeping themselves informed on the ever-changing real estate industry.  Real Estate is always evolving and if you don’t evolve with it you will be left in the proverbial dust.

If searching for homes in the CampLejeune, New River Air Station, Jacksonville, Onslow County area please click here to search all active listings.

Ellen Hough, Jacksonville NC Real Estate , specializing in First time home buyers and sellers. Working with EXIT Independence Realty, 910-330-6103 (Cell)