What’s the difference between a real estate agent and a realtor?
An agent is a person who has gone to school, passed several exams and then becomes licensed by the state, goes to work for a Broker in Charge, so that they can represent people in a real estate transaction. A Realtor is a person who has gone to school, passed several exams and then becomes licensed by the state, goes to work for a Broker in Charge, so that they can represent people in a real estate transaction..... who joins the National Association of Realtors. In other words, both agents and realtors do the same thing. However, the Realtor joined an organization. It’s really that simple.
How do I know the difference between good agents and not-so-good agents?
Ask a lot of questions. Don’t be afraid to ask for references. Tell the agent you’re not in a big rush to sell your home and see if they are still attentive. Most often, you can tell the difference between the agent who is hungry for THEIR paycheck or the agent who is happy to help you achieve YOUR goals. Pushy, anxious, overly talkative agents are not paying attention to your needs. You want an agent who listens, more than talks, who follows through on what they promise to do and who doesn’t waste your time. Remember, real estate agents do not sell houses. The house will sell itself. The agent is your legal representative in the very detailed, expensive process of selling a home. Like an attorney, you want one who will protect you throughout the process, so that you will have a smooth sale.
Are “Zillow” zestimates accurate?
Most of the time they are not. Zillow does not answer to a higher authority. Therefore, they can publish whatever information they want, without having to get that information fact checked first. Although it is not Zillow’s intention to mislead the public, they do pull their information from several sources, which sometimes includes old information or incorrect information. They also “refresh” their information every few days, so if an agent goes into the Zillow system to correct a listing, chances are it could re-set the wrong information in just a few days and so on.
As a seller, do I have to accept a full price offer?
No. The law says we are not under contractual obligation until all parties have agreed to all the terms and conditions set forth in the contract and signed accordingly. Therefore, a seller has the right to decline an offer for any reason, even if it’s full price. However, this does not include the portion of the fair housing law that states that sellers may not discriminate against, race, color, religion, national origin, handicap, six or familial status. If a seller refuses to accept an offer from a minority buyer, that buyer could pursue legal assistance and bring a discrimination case to you.
Are Open Houses worthwhile?
Honestly, more often the answer is NO rather than YES, but there are exceptions. When a seller opens their house to anyone who wants to come inside, the traffic usually consists of neighbors, curious lookers and perhaps one or two actual buyers. Real estate agents make good contacts through open houses, so it is a good public relations and lead opportunity for the agent, but if you polled all the open houses in all the State of North Carolina, over a ten year period, you’d probably find that less than 5% of the open houses resulted in a sale. Some sellers feel they aren’t getting their money’s worth unless the agent does an Open House. The choice is theirs and we will not argue their right to have one. It’s up to you.
Aren’t large firms (like a franchise office) a better choice than smaller firms, to help me buy or sell?
I’m not just answering this because I own a small firm...... honestly. If you have had much experience with real estate agents, I am sure you will agree that regardless of whether their office brokerage is a national firm or a small brokerage, it was the agent themselves that did all the work and either did a great job or not. Where they hang their license will do you no good, if they themselves are awful at their job. Regardless of the size of the office, a good agent will do their job properly and get your home sold smoothly.
Aren't I the best judge of what my house is worth?
Yes, if you’re a real estate agent and have access to all the information an agent will use to do a proper market analysis of your property. Over the many instances where a seller insists we list the property higher than we recommend, 99% of the time, they wind up selling for a lot less than what we originally recommend because they misjudged the market at the wrong time, missed the best selling opportunity and now look like a stale listing, that must have something wrong with it, because no one has purchased it. There’s a reason you hire us, especially if we are experienced, knowledgable agents. We know the market, we know our business and we know what the buying public wants and usually what they will pay for a house. We also know what data the appraiser will use to place a value on the property. Please, trust your agent and let them do their job. We want what’s best for you, including best price.
If I’m not happy with my real estate agent, can I fire them and if so, how?
There is a clause in most real estate agent’s listing contract that says you can give notice of canceling the contract at any time, if you feel the agent did not fulfill their portion of the agreement. Some of their contracts say you may owe them any expenses they have incurred, if you cancel, but most of the agents will just release you from your contract, if you request them to do so. To protect yourself, we suggest you cancel your listing contract in writing.
However, may we suggest you first have a discussion with your agent to find out if you can work out your differences. Sometimes it’s really just a misunderstanding. Sometimes it’s a wrong assumption. Most agents are very willing to rectify any wrongs or misunderstandings. We suggest you give them a chance to correct any problems first, before considering dismissal of your agent. Then, if you are still not satisfied with their performance, perhaps it’s the best solution.
Can I limit the times agents show my house?
Sure. You can limit showings to any time you like or are convenient. Just please remember that the more limits you put on the availability of your home, the less opportunity you give a buyer to select your home. Especially in the Ardmore market, many buyers have a short or unusual time period to select a home. We have often worked with buyers who fly in from another state for the weekend and must select a home in 72 hours. If your home is not available to see, they will not be back at your convenience. Putting your home on the market is not easy. It invades your privacy and personal time. It subjects you to the harsh remarks and criticism of potential buyers. It stresses you every day, all day, by trying to keep your home in “showing” ready status. We agents appreciate how difficult this is for sellers. And we try to be as considerate of you as possible. However, there are those times when buyers demand we give short notice, so please understand that we are merely trying to accomplish a goal..... getting your home sold. Thank you so much for your understanding.
Are there any construction or environmental issues common to Ardmore homes?
Glad you asked that question. Yes, after hundreds of sales in Ardmore, here are some of the most common issues that arise and could affect the sale. Most times, the home inspector will note the following items as potential problems in the home. If you think your home has any of these situations or are not quite sure, don’t hesitate to ask us to help you review your home’s structural and mechanical status, so that you can be well prepared for a home inspector’s eyes.
Buried Oil Tanks - Over 40% of our sales last year involved buried oil tanks. Buyers don’t want to deal with the tank and their agents will often recommend a full blown testing procedure that could cost the seller thousands of dollars. The law says buried residential oil tanks can be removed without testing for contamination in the soil, as long as the seller discloses the information. If you have or think you have a buried oil tank, ask us for the NC State Underground Storage Tank package to learn about what you need to do concerning your buried oil tank.
Foundation cracks - Over the years, home inspectors will differ on their opinions about cracks in the foundation wall. It’s not uncommon to have foundation cracks, but whether or not they are affecting the house structure... that is the question. Some inspectors say “if you can stick a nickel inside the crack width, you have a problem”. Other inspectors say “almost all cracks need structural reinforcements”. Structural reinforcement could mean steel or concrete posts, carbon fiber strips or helical piers, to name a few. Believe it or not, clogged gutters that allow water to drip right down into the foundation wall, are often the reason for the cracks. It’s always important to pay attention to where the water flows after a good rain, so that you are not inviting problems for your home. Simply filling in the very small cracks with mortar repair is a good idea, but filling in major cracks will not hide the problem from a home inspector. Take a look at your basement walls now and let us guide you on the right & reasonable solution, if any is needed.
Knob & Tube wiring - Until the 1930’s, when residential house wiring was upgraded to meet the greater need for electric in the home, this antiquated wiring was sufficient. However, 80 years later, those old wires, wrapped in cloth and without a grounding wire, can be dangerous. Building codes do not demand they be replaced, but home inspectors will surely note to the buyer that old knob and tube wiring should be removed for safety reasons. Take a look in your attic or basement to see if you have any live knob & tube wires and if so, call a licensed electrician to help you upgrade your home’s electric wiring.
Windows that don’t open - Such a simple item, but so many Ardmore homes have windows that have been painted shut for years. Health and Safety codes say that every room should have at least one operational window, so that people can escape in the event of fire. The home inspector will try to open every window in the house and will note which ones don’t function. It may be a few hours work on a Saturday afternoon for you, but it will surely be one less item the buyer can renegotiate after the home inspection.
Unpermitted improvements - Perhaps a new deck was installed two owners ago and they never obtained a building permit for the deck. Now, the buyer’s agent does some poking around and finds out it’s an illegal deck. This could be a deal breaker. It happens enough in our business that we felt it important to make you aware of what could happen if you have un-permitted improvements. Take a moment to call City Inspections at (336) 727-2624, if you think this could impede your sale. The folks in that department are very willing help you to resolve any problems without great expense, especially if you are not responsible for the improvement. Give us a call to discuss what item may be of concern before you call City Inspections, so we can help you de-
termine whether or not you have an issue to resolve.
Outdated electric outlets - Older homes typically have older wiring in the walls, even if the outlet or wiring at the electrical panel is new, the older wires are not grounded. Home inspectors test all outlets to see if they are grounded or not and while this is not a deal breaker, they will note it on the home inspection report to the buyer and not all buyers can differentiate between serious and non-serious issues in the report. Especially when it comes to electric. Without a great expense, this problem can often be resolved. If you’re having an electrician over to prepare you for a sale anyway, ask them to take a look at your outlets and wiring. Ace Hardware will have a “tester” that you can use yourself on your outlets in the house, but seeking professional help is highly reccommended.
Why isn’t my house getting any offers?
On rare occasions, we don’t have an answer why a home hasn’t had any offers. But more often, here are typical reasons why a house may not have sold yet.
1. It’s overpriced. Buyers are savvy. They compare pricing. And if they don’t think to do so, their agent does. If your competition is offering more for less or the same, then they will get the offer and you will not.
2. It’s outdated or poorly staged. Today’s buyers are looking for updated, clean, attractively staged, odorless, uncluttered and functional. If the home does not have a good room flow or shows too much wear and tear, the buyer will move on. Please, please don’t make an assumption that you know how to stage or pick the right colors. We have seen many well intentioned sellers spend money and do the wrong thing. Listen to your agent, who is listening to the buyers and they can usually tell you what will work and what will not. Don’t take it personally. Selling your home is a business and putting your home’s best foot forward at the right price will probably get you an offer in a reasonable time.
3. Something outside your home is causing a negative influence. Perhaps you have a neighbor who doesn’t take care of their property. Perhaps you’re close to a problem,crime ridden area or street. Perhaps you’re on a very busy street. Perhaps there’s noise or light pollution close to your property. Those issues are the most frustrating because there’s often nothing we can do about it. If you approach the selling of your home from a business perspective, try to take your emotions out of the equation and listen to the agent you have carefully selected, then you willhave a smooth transaction with as little stress possible.
Thank you so much for taking the time to read through this information. We tried to cover most of the questions asked by sellers regarding their property, but if we missed a question that you still have, don’t hesitate to call our office and get your answer. Call Robert Newman, the Broker in Charge at (336) 721-1281.
An agent is a person who has gone to school, passed several exams and then becomes licensed by the state, goes to work for a Broker in Charge, so that they can represent people in a real estate transaction. A Realtor is a person who has gone to school, passed several exams and then becomes licensed by the state, goes to work for a Broker in Charge, so that they can represent people in a real estate transaction..... who joins the National Association of Realtors. In other words, both agents and realtors do the same thing. However, the Realtor joined an organization. It’s really that simple.
How do I know the difference between good agents and not-so-good agents?
Ask a lot of questions. Don’t be afraid to ask for references. Tell the agent you’re not in a big rush to sell your home and see if they are still attentive. Most often, you can tell the difference between the agent who is hungry for THEIR paycheck or the agent who is happy to help you achieve YOUR goals. Pushy, anxious, overly talkative agents are not paying attention to your needs. You want an agent who listens, more than talks, who follows through on what they promise to do and who doesn’t waste your time. Remember, real estate agents do not sell houses. The house will sell itself. The agent is your legal representative in the very detailed, expensive process of selling a home. Like an attorney, you want one who will protect you throughout the process, so that you will have a smooth sale.
Are “Zillow” zestimates accurate?
Most of the time they are not. Zillow does not answer to a higher authority. Therefore, they can publish whatever information they want, without having to get that information fact checked first. Although it is not Zillow’s intention to mislead the public, they do pull their information from several sources, which sometimes includes old information or incorrect information. They also “refresh” their information every few days, so if an agent goes into the Zillow system to correct a listing, chances are it could re-set the wrong information in just a few days and so on.
As a seller, do I have to accept a full price offer?
No. The law says we are not under contractual obligation until all parties have agreed to all the terms and conditions set forth in the contract and signed accordingly. Therefore, a seller has the right to decline an offer for any reason, even if it’s full price. However, this does not include the portion of the fair housing law that states that sellers may not discriminate against, race, color, religion, national origin, handicap, six or familial status. If a seller refuses to accept an offer from a minority buyer, that buyer could pursue legal assistance and bring a discrimination case to you.
Are Open Houses worthwhile?
Honestly, more often the answer is NO rather than YES, but there are exceptions. When a seller opens their house to anyone who wants to come inside, the traffic usually consists of neighbors, curious lookers and perhaps one or two actual buyers. Real estate agents make good contacts through open houses, so it is a good public relations and lead opportunity for the agent, but if you polled all the open houses in all the State of North Carolina, over a ten year period, you’d probably find that less than 5% of the open houses resulted in a sale. Some sellers feel they aren’t getting their money’s worth unless the agent does an Open House. The choice is theirs and we will not argue their right to have one. It’s up to you.
Aren’t large firms (like a franchise office) a better choice than smaller firms, to help me buy or sell?
I’m not just answering this because I own a small firm...... honestly. If you have had much experience with real estate agents, I am sure you will agree that regardless of whether their office brokerage is a national firm or a small brokerage, it was the agent themselves that did all the work and either did a great job or not. Where they hang their license will do you no good, if they themselves are awful at their job. Regardless of the size of the office, a good agent will do their job properly and get your home sold smoothly.
Aren't I the best judge of what my house is worth?
Yes, if you’re a real estate agent and have access to all the information an agent will use to do a proper market analysis of your property. Over the many instances where a seller insists we list the property higher than we recommend, 99% of the time, they wind up selling for a lot less than what we originally recommend because they misjudged the market at the wrong time, missed the best selling opportunity and now look like a stale listing, that must have something wrong with it, because no one has purchased it. There’s a reason you hire us, especially if we are experienced, knowledgable agents. We know the market, we know our business and we know what the buying public wants and usually what they will pay for a house. We also know what data the appraiser will use to place a value on the property. Please, trust your agent and let them do their job. We want what’s best for you, including best price.
If I’m not happy with my real estate agent, can I fire them and if so, how?
There is a clause in most real estate agent’s listing contract that says you can give notice of canceling the contract at any time, if you feel the agent did not fulfill their portion of the agreement. Some of their contracts say you may owe them any expenses they have incurred, if you cancel, but most of the agents will just release you from your contract, if you request them to do so. To protect yourself, we suggest you cancel your listing contract in writing.
However, may we suggest you first have a discussion with your agent to find out if you can work out your differences. Sometimes it’s really just a misunderstanding. Sometimes it’s a wrong assumption. Most agents are very willing to rectify any wrongs or misunderstandings. We suggest you give them a chance to correct any problems first, before considering dismissal of your agent. Then, if you are still not satisfied with their performance, perhaps it’s the best solution.
Can I limit the times agents show my house?
Sure. You can limit showings to any time you like or are convenient. Just please remember that the more limits you put on the availability of your home, the less opportunity you give a buyer to select your home. Especially in the Ardmore market, many buyers have a short or unusual time period to select a home. We have often worked with buyers who fly in from another state for the weekend and must select a home in 72 hours. If your home is not available to see, they will not be back at your convenience. Putting your home on the market is not easy. It invades your privacy and personal time. It subjects you to the harsh remarks and criticism of potential buyers. It stresses you every day, all day, by trying to keep your home in “showing” ready status. We agents appreciate how difficult this is for sellers. And we try to be as considerate of you as possible. However, there are those times when buyers demand we give short notice, so please understand that we are merely trying to accomplish a goal..... getting your home sold. Thank you so much for your understanding.
Are there any construction or environmental issues common to Ardmore homes?
Glad you asked that question. Yes, after hundreds of sales in Ardmore, here are some of the most common issues that arise and could affect the sale. Most times, the home inspector will note the following items as potential problems in the home. If you think your home has any of these situations or are not quite sure, don’t hesitate to ask us to help you review your home’s structural and mechanical status, so that you can be well prepared for a home inspector’s eyes.
Buried Oil Tanks - Over 40% of our sales last year involved buried oil tanks. Buyers don’t want to deal with the tank and their agents will often recommend a full blown testing procedure that could cost the seller thousands of dollars. The law says buried residential oil tanks can be removed without testing for contamination in the soil, as long as the seller discloses the information. If you have or think you have a buried oil tank, ask us for the NC State Underground Storage Tank package to learn about what you need to do concerning your buried oil tank.
Foundation cracks - Over the years, home inspectors will differ on their opinions about cracks in the foundation wall. It’s not uncommon to have foundation cracks, but whether or not they are affecting the house structure... that is the question. Some inspectors say “if you can stick a nickel inside the crack width, you have a problem”. Other inspectors say “almost all cracks need structural reinforcements”. Structural reinforcement could mean steel or concrete posts, carbon fiber strips or helical piers, to name a few. Believe it or not, clogged gutters that allow water to drip right down into the foundation wall, are often the reason for the cracks. It’s always important to pay attention to where the water flows after a good rain, so that you are not inviting problems for your home. Simply filling in the very small cracks with mortar repair is a good idea, but filling in major cracks will not hide the problem from a home inspector. Take a look at your basement walls now and let us guide you on the right & reasonable solution, if any is needed.
Knob & Tube wiring - Until the 1930’s, when residential house wiring was upgraded to meet the greater need for electric in the home, this antiquated wiring was sufficient. However, 80 years later, those old wires, wrapped in cloth and without a grounding wire, can be dangerous. Building codes do not demand they be replaced, but home inspectors will surely note to the buyer that old knob and tube wiring should be removed for safety reasons. Take a look in your attic or basement to see if you have any live knob & tube wires and if so, call a licensed electrician to help you upgrade your home’s electric wiring.
Windows that don’t open - Such a simple item, but so many Ardmore homes have windows that have been painted shut for years. Health and Safety codes say that every room should have at least one operational window, so that people can escape in the event of fire. The home inspector will try to open every window in the house and will note which ones don’t function. It may be a few hours work on a Saturday afternoon for you, but it will surely be one less item the buyer can renegotiate after the home inspection.
Unpermitted improvements - Perhaps a new deck was installed two owners ago and they never obtained a building permit for the deck. Now, the buyer’s agent does some poking around and finds out it’s an illegal deck. This could be a deal breaker. It happens enough in our business that we felt it important to make you aware of what could happen if you have un-permitted improvements. Take a moment to call City Inspections at (336) 727-2624, if you think this could impede your sale. The folks in that department are very willing help you to resolve any problems without great expense, especially if you are not responsible for the improvement. Give us a call to discuss what item may be of concern before you call City Inspections, so we can help you de-
termine whether or not you have an issue to resolve.
Outdated electric outlets - Older homes typically have older wiring in the walls, even if the outlet or wiring at the electrical panel is new, the older wires are not grounded. Home inspectors test all outlets to see if they are grounded or not and while this is not a deal breaker, they will note it on the home inspection report to the buyer and not all buyers can differentiate between serious and non-serious issues in the report. Especially when it comes to electric. Without a great expense, this problem can often be resolved. If you’re having an electrician over to prepare you for a sale anyway, ask them to take a look at your outlets and wiring. Ace Hardware will have a “tester” that you can use yourself on your outlets in the house, but seeking professional help is highly reccommended.
Why isn’t my house getting any offers?
On rare occasions, we don’t have an answer why a home hasn’t had any offers. But more often, here are typical reasons why a house may not have sold yet.
1. It’s overpriced. Buyers are savvy. They compare pricing. And if they don’t think to do so, their agent does. If your competition is offering more for less or the same, then they will get the offer and you will not.
2. It’s outdated or poorly staged. Today’s buyers are looking for updated, clean, attractively staged, odorless, uncluttered and functional. If the home does not have a good room flow or shows too much wear and tear, the buyer will move on. Please, please don’t make an assumption that you know how to stage or pick the right colors. We have seen many well intentioned sellers spend money and do the wrong thing. Listen to your agent, who is listening to the buyers and they can usually tell you what will work and what will not. Don’t take it personally. Selling your home is a business and putting your home’s best foot forward at the right price will probably get you an offer in a reasonable time.
3. Something outside your home is causing a negative influence. Perhaps you have a neighbor who doesn’t take care of their property. Perhaps you’re close to a problem,crime ridden area or street. Perhaps you’re on a very busy street. Perhaps there’s noise or light pollution close to your property. Those issues are the most frustrating because there’s often nothing we can do about it. If you approach the selling of your home from a business perspective, try to take your emotions out of the equation and listen to the agent you have carefully selected, then you willhave a smooth transaction with as little stress possible.
Thank you so much for taking the time to read through this information. We tried to cover most of the questions asked by sellers regarding their property, but if we missed a question that you still have, don’t hesitate to call our office and get your answer. Call Robert Newman, the Broker in Charge at (336) 721-1281.