Real Estate News And Views

Realestatelicense.com has created this blog to keep you informed on recent real estate news, views, and topics. Real estate is a very dynamic field. Everyday there's something new and exciting happening in the world of real estate. Use this blog to stay on top of current real estate events, news, and views and support your real estate license and career. As a licensed real estate professional, you need to know this information.

Tips for Renting Out Your Home

Have you ever rented your home out? If you purchased a residential investment property, you just might be an old pro by now. On the other hand, if you purchased a new home before selling your current home, you may need to alleviate the pain of two mortgages. No matter what your situation is, the following tips can help the rental process run smoothly for all parties involved.

1) Make sure your home is pleasing to the eye.

Renters value many of the same amenities/benefits that buyers seek out, so make your rental home inviting. This includes removing unnecessary clutter, making sure the lawn is freshly cut, adding a fresh coat of paint and having the carpets thoroughly cleaned. You should also take care of any of those repairs you've been putting off. Consulting a licensed real estate salesperson with a knack for home staging might help you rent your home out more quickly.

2) Set a competitive monthly rent.

Before deciding what to charge for monthly rent, do a little research. You can use websites like www.realtor.com to see what comparable rents in your community are going for. Is your competition including monthly utilities and lawn or pool maintenance? What about kitchen appliances and a washer/dryer? Consider all of these factors and set a monthly rent that falls within the average asking range for comparable homes in your area.

3) Promote your home to the masses.

According to the National Association of Realtors, most homebuyers begin their home search online. The same is true for renters. Post your home on your local newspaper's website, community specific websites like www.craigslist.org and national websites like www.rentals.com. If you're working with a real estate agent or management company, they can also put your home into your area's Multiple Listing Service (MLS).

Click here to learn how to become a reale state agent

4) Screen potential candidates.

According to Ted Kimball, a California based attorney specializing in landlord/tenant law, there are three basic areas that landlords need to check: credit history, past tenant behavior and criminal history.

"The best way to get good tenants for your property and protect your assets is to use a property management company," advised Kimball. "But if you're not interested in doing that, hire an objective third party to handle the screening of your tenants."

5) Rent with fairness.

Treat every potential renter you meet with the utmost respect. There are laws in place that protect renters if they feel they're being treated unfairly. For example, the Federal Fair Housing Act identifies seven protected classes: religion, national origin, race, ancestry, sex, familial status and disability.

According to the Federal Credit Reporting Act, if you turn down a potential tenant, you must provide in writing a reason why. For example, if it's because of their credit score, let them know that's why and refer them to the credit reporting company who provided the report for further information.

Violating the Federal Fair Housing Act or the Federal Credit Report Act could mean huge fines - whether you meant to or did so by mistake. If you're not using the help of a property management company or a real estate salesperson, review these laws carefully online and have your lease agreement reviewed by an attorney to protect yourself.

By Danielle Macklin, Allied Schools,www.realestatelicense.com

Labels: accredited online real estate school, How to become a real estate agent, real estate license

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6 Ways to Beat Housing Market Challenges

Is the real estate market changing in your area? Don't whine - prepare! It's the trained agents on top of their real estate course education that will shine - especially if they follow these six tactics:

1) Lead generation and prospecting - No leads? No sales! If you're proud to hold a real estate license, get out and market yourself to the masses. Send postcards or flyers to your targeted area, include your website and offer incentives for contacting you, like a list of the area's latest foreclosures. Take time to find out what's working for other agents and implement a strategy that will ensure a pipeline of leads coming your way.

2) Solid presentation skills and market knowledge - How will you convince a potential client to list their home with you? Once you obtain a real estate license, begin to cultivate your competitive edge and learn how to articulate it clearly! Maybe you offer a professional home staging service at no cost or you're backed by a company who advertises in top media for your area. These selling points should form the core of your listing presentation, website and marketing collateral.

3) Immediate responses - Never procrastinate when returning client phone calls or emails. Doing so could make your clients feel unimportant and there is always another agent around the corner willing to make them feel better.

4) Follow-up, follow-up, follow-up - If you let your clients forget about you, not only may you lose their business, but valuable referrals as well. Keep an organized database of every contact and stick to a follow-up schedule. Call clients on the phone, send birthday cards or yearly calendars with your personal contact information and host community events. There are endless, creative ways to ensure you're the agent of choice!

5) Excellent listening skills and empathy - The purchase or sale of a home is one of the most dramatic moments in a person's life. Taking the time to listen to your client's concerns, as well as addressing them, will help ensure an overall positive experience for everyone involved.

6) Objection handling techniques - A real estate agent needs to position them self as a highly knowledgeable individual who knows best, but must never come off as controlling. Find compelling data that expels a stubborn client's stance, and more times than none, they will change their mind on their own. For example, how do you handle a client who refuses to list their home for a reasonable price? Gather hard data on surrounding sales, days-on-market and amenities, then present a convincing, competitive analysis to the client. Your techniques should always educate, not intimidate.

By Danielle Macklin, Allied Schools,accredited online real estate school

Labels: accredited online real estate school, real estate course

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Real Estate: Opportunity or Dead-End?

You've heard the news: home sales are down. As newspapers and television reports announce significant drops in real estate activity across the nation and focus on the rising number of defaults on sub-prime mortgages, you might be second-guessing yourself for considering a real estate career. Or are you?

The truth is that there is a light at the end of the tunnel. Here are some facts from the National Association of Realtors:

- The median price of existing homes edged up slightly in August, the first increase after a record 12-straight month decline.

- The Fed is expected to continue to cut rates for the rest of the year to help the country avoid a recession.

- Experts are forecasting that sales of both existing and new homes will stabilize in mid-2008.

It is predicted that there will be an adjustment period over the next few months when prices continue to decrease in order to help promote sales activity and reduce the number of houses on the market. However, this can be good news for your new real estate career.

You have the opportunity to enter the real estate market on its next upswing. By completing your real estate education now and applying for a new real estate license, you can be in a unique position to benefit when the real estate market corrects itself. Get started today at www.realestatelicense.com.

It is important to look to the future. In a time when many people are leaving the real estate field, it is actually a perfect time to consider getting a real estate license -- to prepare for the opportunities that lie ahead. A recession affected the real estate market in the late '80s, but everything eventually returned to normal. And it will this time as well.

In fact, Moody's Economy.com predicts that more than half of the 100 top U.S. markets will rise next year. The truth is, people will always have houses to sell and they will need qualified real estate salespeople to do it. It's just a matter of being ready when the time is right. Will you be ready?

Labels: accredited online real estate school, real estate license

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Winter Is Near ... Is Your House Ready ?

Here are few tips to start getting ready for winter and to save energy ...

1. Seal Leaks around Doors and Windows
2. Seal Other Leaks
3. Is the Insulation Adequate?
4. Heating System Checks
5. Check the Fireplace
6. Check the Roof & Its Neighbors
7. Winterize the Plumbing
8. Winterizing Outdoor Items
9. Collect Emergency Supplies

Labels: accredited online real estate school, real estate tips

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