Even if you don't remodel your house before selling, consider Staging your house before showing it. Staging doesn't just mean putting furniture in an empty house; it also can be the least expensive way to get the most impact on a buyer by cleaning, de-cluttering, open window coverings, turn on lights,... Here's a free Report on Staging. Section 1: Home Staging: Buyer’s Agent Perspective Section II: Home Staging: Seller’s Agent Perspective Section III: Buyer Expectations
The meaning of Fiduciary Responsibility =
To get you the maximum return by treating your money as if it was my own.
I first got into real estate as an investor and I learned how to find "value" when buying a property - how to maximize it's value and Market it for the highest price when selling.
I will work with you as a partner to get you the best outcome as if I was buying or selling my own home. Not treating your home as a tool to get my agency more business.
If you’re considering selling your home now, you might be thinking, Why didn’t I do this a year ago? The 13-year residential real estate bull market came to an abrupt end in 2022 as quickly escalating mortgage rates undermined would-be buyers’ purchasing power. A buyer who can afford a $2,500 monthly mortgage payment could have borrowed around $600,000 when mortgage rates were at 3%…but can borrow only about $370,000 with today’s rates at 7.25%.
Many buyers have retreated to the sidelines, leaving sellers with fewer offers than they would have fielded not long ago. And some homeowners have put their home-selling plans on hold, but not everyone has that luxury.
In the current market it’s better to ‘Set the market - not chase it” Over decades of experience has shown market patterns and an experienced agent can help you get ahead of market changes and position your home sale to maximize your net profits.
The key to landing the highest sales price for a home isn’t setting a high asking price. It’s getting the largest possible number of buyers to bid on the property. The best way to accomplish that at times like these is to set the asking price slightly on the low side to attract attention. Most experienced agents know this, but many still try for above-market asking prices because it increases their odds of landing the listing.
Caution: Sellers often assume that they can set their asking price high at first, then lower it if necessary. But that’s not how the real estate market works. The most appealing buyers pay attention only to homes that are brand new to the market—once a home has been for sale for more than two weeks or so, most buyers assume there’s something wrong with it. Then the only interest will come from bargain hunters who offer well below even the lowered asking price.
Quality over Quantity: Personal Attention to details is Demanded in this Market.
Find the Right Agent that puts Personal Attention into your Home sale process, not one that passes on the details to ‘team’ to process your home sale like a factory widget.
Any agent can sell a home when the market is hot, but significant skill and experience are needed when it’s not. An agent that has been through several real estate markets cycles, not just the easy ones. How to find the best agent for your home sale…
High Level of Personal Service and Attention Concierge Level is required for your biggest investments like your Real Estate. Not a time for discount ‘turn em and burn em’ approach. Trying to save a few thousand can cost tens of thousand in net proceeds. Penny wise, pound foolish.
Look for an agent that understands Marketing and focuses on selling your house, not selling their agency for more clients. Don’t fall for the Hyped up sale volume number. (A trick to show hundreds of sales transactions is by putting less experienced agents' sales on a ‘team’ into one agent's name. That’s kind of misleading. There’s not enough hours in a month to put the time and attention that a complex home sales transaction needs and be able to close multiples of transactions in a week.) Also- Did you know, ‘for sale signs’ main purpose is to sell the agency to your neighbors for more business but ‘marketed’ solely to sell your house. Let’s have a direct conversation about what works and how it works directly for marketing a house for sale.
Your Home sale needs an agent that puts personal time into each listing like a partner to your transaction. Not the factory approach where a team of less experienced agents process the selling transaction like putting out widgets in a factory.
This is not negative to the real estate agency business model; it’s systemic in industry on how to increase volume. You have to decide if you want to be another cog be processed or partner with a highly experienced, educated professional to give you a higher level of personal service.
This is a home sale and requires a knowledge of the complex process of market analysis, financing, negotiations and marketing. Experience and personal attention is required as in any serious procedure.
Does the agent know how to do detailed market analysis?
Do they follow economic reporting and understand complex data that can help you stay ahead of changes in market trends and real estate prices?
Financial Professionals Read, Analyze and Understand Economic Reports- So you don’t have to. That’s why you hire them. Yes, making social media posts are a part of advertising a home but you would want your CPA spending most of their time staying up to date on market economics and law changes not Tic Tok videos.
Economics are boring to most people but understanding market data reports are vital to your financial prosperity. Make sure you work with a financial professional not only educated in financial markets but monitors and understands how those indicators affect your real estate and portfolio!
Understand Marketing!!!! It is more than sales and advertising. It’s a science of analytical process understanding: customer, market segments, niches, products placement, pricing.
Don’t just look for claims of ‘ professional photos, videos and broadcasting listings on 100’s websites’ when these are also selling the agency more than the house.
Marketing is more than hiring professional photography and making videos.
It’s knowing the product: house, condo, townhome, single story, large lots, etc.
Who is the target market for that property, demographics and what they want?
Find the niche in the target market that needs your house and will pay above market price for that home.
Messaging that connects to that niche market through specific targeting. Empty Nesters mostly likely will not be looking for a 4000 square foot house with a lot of landscaping upkeep.
In addition to Analyzing and Marketing, you need an agent with a lot of experience NEGOTIATING. This could be the most important quality when looking for an agent and always gets overlooked. This is Most important in tough markets in getting buyer’s offers accepted! Negotiating not just the best price but best terms for sellers. Another reason why you need an agent to give your sale personal attention because they can’t pass this off to a team member.
I have negotiated commercial real estate deals that are much more complex but residential transactions still take dedicating a good amount of time and focus to each transaction. It’s just not to your benefit if an agent is juggling dozens of transactions that week or month.
The highest price is not the best price if the deal falls through and the seller has to start all over after their house has been off the market for over a month. Complications happen and deals fall through, it’s part of the business but you need to know that probability is minimized.
The agent should know how to tell the differences of mortgage qualification, conditions to docs and how to verify those when you can.
Most agents have all of these skills, so find one you trust and have good communications.
What will you do to sell my home that other agents won’t? An agent might respond by pointing to top rank status of hundreds of sales in a year. Again, there are not enough hours in a day, week, year to close a transaction every other day and still provide a high level of personal professional attention your home sale needs without passing on most of the details to less experienced agents or non-licensed assistants.
Be concerned if an agent instead promises lots of open houses or print advertisements—research by the National Association of Realtors has found that these tactics are not effective in this era of online listings. *sells the agency not the house*
Also be wary if an agent says he already has a potential buyer lined up. As tempting as it can be to choose an agent who promises a quick sale, this answer likely means he intends to sell your home to a buyer he also represents so he doesn’t have to split the commission—an unethical conflict of interests. Such an agent might not aggressively market your home to other potential buyers. At least agents have rules against this. I-buyers and investors don’t have any obligation towards your financial interest, so always go with a licensed agent over an investor offer.
What are my home’s top selling points and challenges? Follow this question up with, “How will you prevent those challenges from standing in the way of sales?” You need to hear from the agent honest observations. What buyers will see and how it compares to other houses on the market and should be able to provide a well-thought-out plan of action. This is where an agent's personal experience investing and flipping real estate is invaluable.
Selling Strategies after a rapid rise in interest rates increased buyer’s payment shock mortgage qualification.
Three ways sellers and agents can improve the odds of sales today…
Offer to pay down the buyer’s interest rate. Higher mortgage rates are a big reason buyers aren’t buying these days. But there’s something sellers can do about this—offer cash to secure your buyer a significantly lower rate for either part or all of the loan’s term. Example: The buyer is approved for a 30-year loan at 7% for a $600,000 purchase with 20% down. The seller could pay $11,000 from the home-sale price to the buyer’s lender to reduce the buyer’s rate to 5% for the first two years. Doing this can reduce the buyer’s monthly payments from $3,200 to $2,600...increasing the market share of buyers qualifying to purchase your house.
Buyers want Turn-Key. Get your home into ready-to-move-in condition. There was a shortage of supply during the pandemic real estate rally and the people that had to move were willing to over bid to move. The supply/demand balance now is leveled out and the buyers who remain are shunning homes that require repairs. Also there are a lot of flipped houses that are completely remodeled, setting buyer’s expectations. Buyers are comparing your house to houses that are completely painted, new flooring, cabinets and fixtures. You don’t have to completely remodel your house but your agent needs to show you where your home accurately fits in pricing level with the other homes competing for buyers, not just past sale comps.
Another reason to find an agent with experience personally flipping houses to understand where to put money into remodeling that will return an increase in sales prices over the investment.
Confirm that your home’s completely prepared before the listing hits the market. If you have any doubts, raise them with your real estate agent. Your first showing is online—you have only one chance to make a first impression with buyers.
How we Market and Sell our Home
Sell my House
Selling a home is not an easy process. Get the convenience of having a Personal Hands-on Experience from a Professional working for your best interests and not against. More net profit and less risk to home sellers. Topnotch on rehabilitating houses: Knows how to access and estimate bids for repairs to prepare the house for top sale price and knows what to remodel and what to leave as is. What agents don’t tell you about what sells your house, and what marketing strategy sells to them.
Marketing is more than Advertising
Sell my house fast here is Our Approach to Selling
A professional real estate agent with first hand experience in rehabilitation and remodeling houses can give you more net profit that is the cost of a commission. For sale by owners can lose tens of thousands dollars by not knowing: Current market condition of completing houses, Setting initial price for proper leverage in negotiating offers, and leveraging offers to pre-negotiate contingencies. Always have professional representation in negotiating with an investor buyer!
How many years have you analyzed real estate, searched for under valued properties, hired subcontractors to remodel, marketed and sold properties then reassessed which remodel jobs gave the most return on investment in the final net sale's profit? This is much more than the average real estate agent skill but these professional services would be at your service to maximize the net profit of the sale of your home.
How much do Realtors® charge in commission?
Selling a home, especially in constant changing markets, can be one of the most confusing and stressful time periods. So much information flying around, what is the actual data?
So many moving parts that need to be coordinated from start to close. Now a days everyone is bombarded with the “we’ll buy your house fast” “we pay cash for your house” “quick close, less stress, no hassle” “why pay commission” Home sellers have been realizing that despite claims of no commission promises, they ended up paying more expenses to sell their house to these investors that what they would have paid in commission. Let’s see why at a glance…
Most important. The investor buyer does not represent you, the home seller or your best financial interests. That makes sense, they are out to make a profit from your home. House investors make their profit on the purchase, not the sale. So their profit has to come from your house net proceeds. So how is a home seller with experience of selling a home a few times in their life going to negotiate with these investors with unlimited funds and experiences of thousands of transactions. They know all market data, the wording in the contracts to their advantage and how to use contingency to renegotiate their price down after they get the home seller into escrow and no other buyers are competing against their offer.
You get an experienced, licensed real estate agent to represent you! Licensed agents have a fiduciary responsibility to look out for your financial interest as they would conduct the transaction as if they were managing their own money. As an experienced agent who has invested and flipped homes, I offer that experience and expertise of service to represent you as the home seller. Not only does it make your selling process less stressful and organized, sellers have confidence they are truly getting the maximum net proceeds for their house sale.
Home sellers who thought they were going to save a few percent of the sales price by selling without an agent can end up paying more than double or triple 6% commission with I buyers fees totaling up to 17% from their initial offer price.
Or lose out on Tens of Thousands of dollars by pricing the house incorrectly with Zillow estimate or trusting the values presented to them from the I Buyer who is trying to profit for themselves.
With huge price swings over the last decade and rapid market fluctuations, it is easy to mis-price a house for sale by $20,000, $30,000, or $40,000 and lose many times the few percent they were trying to save by doing all the work themselves. Plus you don’t want to learn the hard way about all the unknowns that can come up while the house is in escrow, causing the transaction to fall out of escrow. Only to start all over after losing all the original buyers and interest of a newly listed house.
If you have any questions about the process or need guidance, please reach out and let Barry Guca’s team guide you through the Selling process in Las Vegas.
How much do realtors charge to sell a house: 2-3% on the listing side and offer 2.5-3% to the co-op buyer side. "Need to sell your house fast but don't want to do any repairs or pay any closing costs? We can help you! Reduced commission for certain sales but you still get the full Fiduciary representation against the "We buy homes with cash! No matter the condition we will give you a cash offer!" Homeowners have been receiving these solicitations constantly but you can sell your house without repairs or closing costs but with representation from licensed real estate agent, you make the additional profits from your home, not these investors. The experiences agent knows the market and how much you can get from AS-IS condition. We will be able to negotiate with multiple cash buyers to maximize the home seller's leverage; not just in higher price but more favorable terms: Possible lease back or longer move out dates and less requirements for seller to compensate the buyer for repairs. These Ibuyers don't tell the seller weeks into escrow that will want the seller to pay for the remodeling to fix items in the house. All of these expenses have average up to 17% of the original offer price. 2-3 times more than a real estate commission.
There are many steps in the process of selling a house and even more processes and costs when getting the top price for your house.
For a quick sale, the house can be priced aggressively and need to negotiate multiple counter offers where the difference in the sales commission would cost less than accepting the wrong offer. The highest offer is not always the best, especially if it can’t close.
The time and steps in this process
I want to sell my house for the highest price. This strategy would require find the right buyer that needs and wants the features in your house. This requires targeting a niche buyers market and buying targeted ads to get your house in front of buyers that are highest likely to make an offer on your house. One of many steps in the market analysis for pricing strategy is calculating the absorption rate to estimate how many days would it take to get an offer at varies prices. This can help in determining how much remodeling will be recommended at each price point. to calculate the absorption rate in real estate, divide the total number of homes sold in a specific period of time by the total number of homes available in that market.
Consumers recognize the value of what an Experienced Professional real estate agent brings to the transaction. More than 9 out of 10 consumers agree that: Experienced Professional Real Estate Agents are a good source on how to prepare a home for sale, Experienced Professional Real Estate Agents are well-informed about housing conditions in your area, Experienced Professional Real Estate Agents make selling a home easier, Experienced Professional Real Estate Agents promote effectively the sale of a home than sellers on their own.
Tips and Advices
What questions you should not disclose to an I-Buyer / Investor? This information cannot be used against you in negotiations or even during the contingency period to take a larger portion of your net proceeds. Consider how you will feel a day before you close, expecting to be able to move on with your life. Now imagine that a week before closing, the buyer informs you that the repairs will cost $25,000 more than estimated, and that if you do not lower the price, they will cancel escrow. How would you feel then? A professional experience agent representing you knows to negotiate these contingencies when you have the leverage, not when you are at your weakest.
Probate need to sell house
As a widower, I'm also cognizant of the emotional state that heirs sometimes experience when dealing with the sale of a loved one's home. Using patience and understanding, I help them process emotions that sometimes impact the financial aspects of the sale. I wish you and your family stress-free peace in these difficult times and understand that arrangements regarding the home will eventually need to be made. As such, and when you are ready, it would be my pleasure to assist you with making these arrangements should the need arise.
Your duties as executor of an estate couldn't come at a worse time – when you're grieving over the loss of a loved one. Unfortunately, legalities have little respect for human emotions.
Perhaps you're fortunate and can delay selling the Las Vegas home, at least for now. However, you'll probably still need to furnish your attorney with an accurate value of that house in today's market.
I'd be pleased to furnish you with that value – at no charge.
When you call on me for a Broker Price Opinion, you'll get a current value based on the recent sale of homes that are similar in size, amenities, location, and condition. My adjustments will be based on extensive market knowledge – not on a computer generated comparison.
What's the catch? There is none. Of course I would be pleased to help you sell this house if and when you decide to do so. In the meantime, it's just my way of helping you get through a difficult time by furnishing you with accurate information.
If you need help about the real estate process, please give me a call or email me.. Should you have any questions or be in need of any other assistance regarding this property, we will do our utmost to help or refer you to a reputable member of our strong local network.
Thank you in advance for your time.
Divorce need to refinance, sell, buy house
If you're going through a divorce and need to refinance or sell a house: Let’s face it. Buying or selling a home in Las Vegas is hard. Add in the stress and confusion of a divorce, and it becomes 10 times harder. Hire a real estate agent who has never worked a divorce before, and it becomes 20 times harder. The good news is that it doesn’t have to be.
Throughout my 30 years working as an agent, 22 years in Las Vegas, I have helped dozens of clients smoothly navigate the tricky process of buying or selling a home after a divorce. Many of them have said that after their families, friends, and attorneys, they valued my help most of all. My 30 years of experience can help de-stress buying or selling after a divorce.
Here are a few things I’ve learned over the years to help make real estate transactions after a divorce close with as little stress as possible:
Experience matters: New agents are often too hungry to close a deal to guide you through the process smoothly. They usually end up adding stress when they should be helping to reduce it. With 30 years in real estate, I have the experience you need.
Integrity matters: Since you likely need to buy or sell quickly, many agents will rush you through the process—again, adding stress when they should be helping to reduce it.
Skills > Empathy: While many agents offer empathy, I offer something far more valuable: the marketing, sales, and negotiation skills to de-stress your transaction as much as humanly possible.
If you would like to talk over your options for buying and selling real estate or just need some quick advice, you can contact me anytime.
Finally Help for Homeowners
How to choose a Realtor®
Should I sell my home now?
How does my home Compare to others in the area.
Facts, real information and someone looking out for your interests. Go to OwnLV.com and enter your information for real time market data and current sales activity in your neighborhood.
Homeowners are constantly being solicited by I-Buyers and Corporate Hedge fund Investors trying to take their home equity with the promise of “quick no hassle sale”. Get Help from a neutral party that is not trying to profit from your house.
Track your home value. What’s the real value of my home?
To Find out the true market value of your house.
Contact us for free market data direct to your email. Real data directly from the MLS; not inaccurate Zillow estimates.
Claim your home for an up-to-date home value estimate by entering you email and address.
How much did houses appreciated in my zip codes? Go to the contact form to receive report customized to your neighborhood.
Is now the time to lock in the gains from your house equity?!
Get list of most affordable housing markets. Contact us now for information and help with questions.
Beware of corporate I-Buyers and Hedge fund Investors offering quick cash purchase of your house without getting all the accurate information.
HOW TO SELL A HOUSE IN A SELLERS MARKET
- Get an experienced real estate agent that been through multiple market cycles. The last time there were multiple bids were 2011-2012 2004-2005 market cycles. Experienced agent can save time by targeting realistic buyers and limit showings from sightseers walking through your home.
- Know which updates to make to your house. What buyers are looking for and will pay a premium. You want to get $2 back in sales price for every $1 you spend remodeling.
- Prepare the home for sale.
- Price it right.
- Understand how to handle multiple bids.
- Know how to prequalify buyer’s loan approvals. Few agents also are licensed mortgage brokers. This is a tremendous advantage when going through offers. It’s not the highest offer that is best; it’s the highest that can close.
- Know how to negotiate and pre-negotiate terms that will come up after contingencies.
Happy to answer any of your questions. Email, Call or use the Contact form! Happy to Help! We’re all going through these times together.
Home economics: $62 million FTC settlement addresses Opendoor’s alleged misrepresentations to homeowners
August 1, 2022
As the old adage goes, the three rules of real estate are “location, location, location.” But according to the FTC, online real estate company Opendoor Labs pitched its services to home sellers with “misrepresentation, misrepresentation, misrepresentation.” A proposed settlement imposes a $62 million financial judgment and requires the company to change its business practices.
Arizona-based Opendoor advertised its iBuyer service to people looking to sell their homes. The pitch: Opendoor’s cutting-edge technology would save sellers money by providing “market value” offers and reducing transaction costs. According to the company, “We don’t try to make ‘low ball offers’ because, unlike a home flipper, our business model isn’t based on buying low and selling high. The way we make money is by charging a fee for our service” – a process the company described as “transparent, fair, and accurate.”
Once homeowners expressed initial interest, Opendoor sent them eye-catching charts that claimed to show a side-by-side comparison between customers’ projected net proceeds from selling their home to Opendoor versus selling it “traditionally” by listing on the market. The FTC says the charts almost always projected that homeowners would get thousands more by selling to Opendoor. As the complaint alleges, “As of November 2019, over 90 percent of these charts used in accepted offers projected that the consumer would realize more net proceeds by selling to Opendoor. The average projected gain was more than $6,000.”
That’s how Opendoor promoted its services, but the FTC says that’s not how it panned out for most people. According to the complaint, “In fact, the vast majority of consumers who sold to Opendoor lost thousands compared to what they would have realized in net proceeds from selling on the market because Opendoor’s offers have been below market value on average and its costs have been significantly higher than what consumers typically pay.”
The complaint alleges that Opendoor engaged in practices that both increased the costs to customers and reduced offers to below market value. Opendoor’s approach to home repairs is one example. The company told prospective customers that after an in-person assessment of the property, it may require them to make or pay for certain repairs. However, Opendoor also said that it “ask[s] for the repairs we anticipate the next buyer of the home will ask for” – fixes that customers would have to address before a traditional sale, too. Opendoor further claimed that consumers may even save money on repairs if they sell to Opendoor because “we do our best to pass wholesale savings on to you from our partnerships with local vendors.” But according to the FTC, Opendoor’s required repairs often cost thousands more than what people would have to pay before a traditional sale.
Furthermore, the FTC says Opendoor often took steps that reduced its offers to below what the company’s own internal valuation system determined was the home’s market value. You’ll want to read the complaint for details, but the allegation is that in many instances, the company “adjusted offers to two percent below what Opendoor assessed as market value” – a practice that contradicted what it told homeowners.
To settle the case, Opendoor will pay $62 million, which the FTC will use for customer refunds. Among other things, the proposed order prohibits misrepresentations about what homeowners will have to pay and requires Opendoor to have appropriate substantiation to support claims about the costs, savings, or financial benefits associated with using its service, including any comparisons to traditional home sales. Once the proposed settlement appears in the Federal Register, the FTC will accept public comments for 30 days.
What’s the key takeaway for other businesses? Too many companies that sell goods or services online or operate web-based platforms think that established consumer protection principles don’t apply to them. That’s a major mistake. Fundamental truth-in-advertising standards protect people regardless of how companies choose to market their services.
Capital Gains & 1031 Exchange in Henderson Las Vegas
A QPRT is a form of irrevocable living trust designed to reduce the amount of gift and estate tax generally incurred when transferring an asset to a beneficiary. According to law the QPRT is a suitable legal technique to shield an individual's assets for their beneficiaries and protects those assets from creditors and judgments. An irrevocable trust cannot be changed in any way while the trust is in effect. This helps to guarantee that a judge cannot merely order a person to surrender protected assets to creditors or change the circumstances of the trust which would allow others to obtain the asset. Always speak with an estate attorney and accountant for your specific situation.