Julie is a Realtor serving Northern Virginia
Real estate agents act as go-betweens for buyers and sellers of real estate property. With certain exceptions, anyone who assists with the sale of real estate in the Commonwealth of Virginia is required to be licensed by the state. Each and every real estate agents must be affiliated with a real estate broker. A broker is a real estate profession who has higher educational requirements and who has a minimum of three years of full-time experience as a real estate agent. A realtor is a real estate agent or broker who is a member of the National Association of Realtors. As a realtor, agents and brokers agree to ascribe to a high standard of ethics and participate in continuing education programs.
In most cases, a real estate agent works for one party, either the buyer or seller, renter or landlord. The agent uses his or her specialized training to best represent the clients' best interests. In some cases, the agent will work in a dual capacity representing both sides of the transaction. In all cases, the agent's first duty is to truth and honesty. But when you choose a real estate agent, don't be afraid to ask about what obligations state law imposes.
Some agencies have up-front fees or retainers. It's okay to shop around and to interview several agents and agencies to find the one that you feel most
comfortable working with, but it's only fair to the agent and to yourself to settle on one agent to sell or buy a home. Although it is your right and duty as a consumer to shop around, it is unethical and unfair to work with more than one agent at a time. An experienced agent will always ask if you already have representation. This way the agent won't waste his time or accidentally interfere with the relationship you already have.
For more information or to set up an appointment call Julie at (703)765-0300.
When you begin thinking about selling your condo, it is a good idea to begin by enlisting the help of a licensed Realtor. Unless you are otherwise experienced in the business of buying and selling condominiums, hiring the help of a qualified professional will enable you to reach a large market of potential buyers, and a good agent will work overtime to help you sell your home. In addition, hiring a Realtor will help ensure that all of the paperwork pertinent to the transaction is executed properly. Once you decide to sell your condo, begin by following the helpful tips listed below to prepare you for the process of selling your condo and enable your Realtor to do their job most effectively.
Begin by making a list that summarizes all of the information regarding your specific condo unit as well as the building and area it is located in. This list should emphasize all of the features that your condo has to offer. What makes your condo unique compared to others in the nearby area? What elements of the condo have you found to be most convenient and important to you? What are the amenities that your condominium building offers to residents who live there? For example, location is a major selling factor. If the unit is located near mass transit or other commuter-friendly areas, you should use that as a selling feature. This list should include everything that the specific condo unit and the condominium building feature. Finally, be sure to include any other information that you believe is relevant or applicable to the property. Once your list is completed, give it to your Realtor. This list will aid both you and your Realtor in advertising, marketing, and ultimately selling the property.
For condo buying or condo selling in Northern VA call Nesbitt Realty
Next, head out and go to see the competition firsthand or, at the very least, do some internet research to locate other condos for sale in your neighborhood. It is important to know the general price point that other people are asking. In today's market, it is critical that you price your condo competitively if you want it to sell. Becoming knowledgeable about the market you are selling in is crucial. Ask your Realtor what they know about the area surrounding you condo and be sure to keep the lines of communication open if you discover any new or interesting information.
Let your neighbors know you want to sell your condo. Many times, your neighbors may have friends, family or co-workers who could be potential buyers. You can then post flyers or create postcards to place in the lobby of your building to let neighbors and others in your community know that your condo is for sale. Never underestimate that word of mouth is often an incredibly effective marketing tool particularly because people often like to live in a building where they know someone.
Finally, remember that selling your condo is more than selling a piece of real estate. Selling your condo is about selling a place to live that supports a particular lifestyle. Therefore, you want to target those that would be most interested in owning property. Through the process of maintaining effective lists that highlight the features of the property, understanding the nearby and local market, and informing neighbors of your desire to sell, you and our Realtor can both knowledgeably and efficiently sell your condo even in a buyer friendly market.
For more information or to set up an appointment call Stuart at (703)765-0300.
Fort Belvoir relocations call Nesbitt Realty (703) 765 0300 for buying, selling, renting, and property management of Real Estate in Northern Virginia. Fort Belvoir relocations, there is lots of places to live: condos, townhouses, homes; each with variety in architecture, landscaping, affordability, and many other factors. Real Estate in Northern Virginia boasts many diverse neighborhoods, w/ garage, suburbs, metropolitan, walkables, water oriented, bank owned, etc. Buyers, sellers, renters, and landlords looking to acquire property management, dial (703) 765 0300 for Nesbitt Realty.
From time to time, sellers ask us how you can prepare for a home inspection.
Bob Murphy is a home inspector
Leave appliances clear: Don’t leave dirty dishes in the dishwasher or laundry in the washing machine or dryer. This is because the inspector will need to test the appliances, and he doesn’t want to have to pull out dirty clothes in front of everybody. The same is true for your oven and stovetop. The inspector will need to test them without moving your food or pots around.
Make things accessible: Ensure the location of the attic and crawlspace are identified and easy to access. Don’t make a home inspector move your belongings in order to gain access. Strategically placed bundles and belongings can imply that the seller is trying to hide something and can cause the buyer to get nervous and the home inspector to get very thorough.
Check the lightbulbs: If a lightbulb isn’t working, the inspector will need to determine if the fixture is inoperable. Save them time by making sure all the lightbulbs in the home operate, including those in the crawlspace, attic, and furnace rooms.
Note shut off valve: Sometimes the location of your water shut-off valve is not obvious. You may want to label this to make it more obvious.
The blizzard snow lasted about a week. It hit its climax on about day 3. Many roads built up with caked snow. In Bucknell Manor, nearby stores remained open during the inclement weather. Interested in buying, selling, renting, or property management of Real Estate in Northern Virginia? Call Nesbitt Realty today at (703) 765 0300.
Bucknell Manor in winter with snow
Bucknell Manor in a blizzard
Belle View Exxon gas station during snow
Bucknell Manor blizzard in January on Cavalier Drive
Bucknell Manor in winter with snow
Bucknell Manor in winter with snow
Winter in Bucknell Manor on Cavalier Drive
Bucknell Manor in winter with snow
Bucknell Manor in winter with snow
Bucknell Manor in winter with snow
winter in Bucknell Manor
Bucknell Manor in winter snow with a poodle named Grover
Bucknell Manor blizzard in January on Cavalier Drive
Bucknell Manor blizzard in January on Cavalier Drive
Bucknell Manor in winter with snow
Bucknell Manor blizzard in January on Cavalier Drive
Bucknell Manor on Cavalier Drive in winter after snow
Belle View Boulevard snowed
Bucknell Manor in winter with snow
Grover my poodle in Bucknell Manor near Belle Haven during snow in winter
Winter in Bucknell Manor on Cavalier Drive
Belle Haven in the distance of Bucknell Manor in a blizzard
Bucknell Manor in winter with snow
Belle View Shopping Center during winter snow
Bucknell Manor on Cavalier Drive in winter after snow
Belle View Boulevard in winter snow
Bucknell Manor during a blizzard in January
Bucknell Manor blizzard in January on Cavalier Drive
tipClean- The most obvious is cleaning. As much as you enjoy leaving your dirty laundry scattered everywhere and the dirty dishes piled up in the sink, cleaning is unavoidable. Hiring cleaners is often the best solution. Professional cleaners will scrub and clean the places you will easily overlook. The better your property shows, the easier it will sell.
Landscaping- The yard and the exterior of your home is the first thing potential buyers will see. Removing weeds, dead branches and making sure downspouts are functioning correctly are relatively inexpensive tasks that will do wonders on the first impression of your home. If you're thinking of moving next spring, (then) this winter, you should be working on your landscaping.
Paint- Painting your home in a neutral color that appears to a broad audience will help purchasers envision themselves in your home. Auburn red might look great to you, but it has the potential to turn off buyers.
De-clutter- It might be tough to let go of some items you have lying around your home. De-cluttering your home will give the impression of more space and give a more desirable impression.
Midtown Alexandria StationI received the following email from a landlord whose property we manage at Midtown Alexandria:
"We would like to consider listing the condo for sale at Midtown, maybe for 6 month periods. It would have to be an investor type due to the current tenant lease. The price I have in mind is $425k. On top of that would be your commission added. I know it is pricey in comparison to what exists but I would just like to get an idea of interest. Perhaps putting it on the market from time to time would be one strategy. Let me know your thoughts."
Here was my reply:
I honestly can't see how it would do you a bit of good and I'll tell you why.
But first I should let you know that I work with a number of investors who make purchases with me from time to time. I've been telling several of them that Midtown is a GREAT place to buy right now. I think it's a great place to buy for an investor because the prices at Midtown are way below what I think the actual value should be. There are a number of reasons compounding on each other to create the valuation problems of Midtown Alexandria Station:
- Many owners bought at the height of the market. Some of them bailed out through short-sales and foreclosures. Many are holding on for dear life and when they see the slightest possibility of escape they do so. Every bit of demand at Midtown is swamped by owners who would love to bail out.
- They've recently built a number of large apartment buildings in close proximity to Midtown. Many Midtown buyers are first-time buyers who are weighing the choice of renting vs. buying. As long as there is a glut of rental options, rents stay low. As long as rents stay low, there are a number of buyers who will prefer to rent rather than buy. Lower demand for buyers means lower prices for sellers.
- The rental competition mentioned above keeps rents low. Most investors look at cash flow when they invest. Appreciation is something they hope for, but they do not count on. When you look at the rent vs. the cost to purchase at Midtown the opportunity does not look appealing. There are a number of options that are nearby where the ROI is much higher than Midtown. A low ROI means a lot of risk. If there is no appreciation the investor has tied up a lot of money for no good reason.
The condos at Midtown Alexandria Station are located at the Huntington Metro Station.
That said, I have told a number of investors that I think now is an excellent time to buy at Midtown. The reason is because I think the pressures I listed above have compounded to the point that the price at Midtown is I think below the value at Midtown. I think an upward swing in value is about 2 years out. Here's why:
The National Science Foundation will be completed soon. The reason all those apartments were built is to take advantage of the increase in demand that will follow the NSF. Once the NSF is complete and the apartments start to fill up, I think the apartments will jack up their rents.
This will have a cascading effect on values at Midtown. When area rents go up, then the idea of purchasing at Midtown makes more sense for a first time home-buyer. When the rents go up then the property makes more sense for investors. These both increase demand.
At the same time there is a big redevelopment project slated for Huntington and as that phases that will have a huge impact on the perceived value of Midtown. Right now Midtown is a nice newer condo directly on the Metro, but in kind of okay but grungy neighborhood. In the future Midtown will be smack dab in the center of a new exciting neighborhood.
Midtown offers a convenient location and an outstanding value.
For this reason I think Midtown is going to see a lot of appreciation and I am encouraging investors to buy here. That said, the reason investors should buy here is the reason that selling is a bad idea for you. Let me start by saying investors want the absolutely cheapest available opportunity. If you are priced high, it doesn't matter what your view is or if you have renters, then there is NO chance an investor will take interest.
If you are priced low there is a chance that investor will take an interest, but the investor is only going to buy if he can talk you down from that low price. In other words, I don't think there is any chance that any investor would be interested in your property.
Home buyers who are buying a primary residence sometimes buy a higher priced unit. It is true that a homeowner will pay a few thousand more for the floors they like or the view they want or to be close to a particular amenity. But home buyers are only interested in properties that look great. They are turned-off by properties with renters. So, I think there is only a very small chance that any home buyer would have any interest in your property.
So all that is to help you explain my position when I tell you that I don't think you do yourself a bit of good by listing the property for sale right now and I think you actually hurt us a bit because we'd have to do work that I don't think would have even a hope of getting us any money. If this advice finds you in a mood where you still believe that listing the property for sale at $475k is a good thing to do at this time, then I would offer to list it for you for a flat fee.
Normally we would charge a 6% commission. Instead I would list it for you for 3% plus $500. This is a savings to you of about $14,000. 3% is payed to the selling agent (most likely another company) if/when the property sells. $500 is paid to us when we list the property, whether the property sells or not. We would still perform all the services we normally perform. That $500 would include the cost of professional photography (which is about $250) to list the property.
No, I don't think the property will sell. I understand why you want out and I empathize with your position. Although we cannot do anything to change the market I do think there is finally a light at the end of the tunnel.
It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transaction. Ask what type of agency relationship your agent has with you:
Seller's representative (also known as a listing agent or seller's agent)
A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.
Buyer's representative (also known as a buyer’s agent)
A buyer’s agent is hired by prospective buyers to represent them in a real estate transaction. The buyer's rep works in the buyer's best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer's rep may be paid by the seller or through a commission split with the seller’s agent.
Subagent
A subagent owes the same fiduciary duties to the agent's customer as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not the buyer’s agent, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.
Disclosed dual agent
Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real
estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them, is legal in most states.
Designated agent (also called appointed agent)
This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.
Nonagency relationship (called, among other things, a transaction broker or facilitator)
Some states permit a real estate licensee to have a type of nonagency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
Here's one of our latest postcards. Nesbitt Realty is one of the top-ranked Realtors in Virginia for customer satisfaction.
Why do our clients love us?
Locals trust us because we are a family business that offers the same services at the big companies but with a hometown touch.
An, we never charge our buyers or sellers any administrative fees.
Thinking of selling in the next year?
https://youtu.be/cV9mmlRptYI
The National Association of Realtors writes, "Consumers want their real estate agent to be tech-savvy and offer lower fees than their competitors, finds a new survey by the real estate brokerage Redfin of nearly 1,000 recent home buyers and sellers." This is like a mission statement of Nesbitt Realty. Our agents are well-versed in the best real estate technology tools in the business and (unlike other brokers---including Redfin) Nesbitt Realty NEVER CHARGES ADMIN FEES!
Brothers working together at the office
NAR says, "About 62 percent of buyers and sellers said they are looking for lower fees in a real estate transaction. However, 22 percent of those surveyed said that low fees actually made them worry about the quality of the service." Admin fees are usually about $500 per transaction in Northern Virginia. These fees are often the life-blood of the large-chain brokerage. But what if you could get the same services as you would get from a national chain, but deal with a family-business? That's why our clients love Nesbitt Realty.
Buyers and sellers are also taking notice of what technology agents are using to help them on their house hunt or sale. Fifty-seven percent of buyers and sellers surveyed said the technology their real estate agent uses is important to them. On the other hand, 31 percent of consumers surveyed said “the only thing that matters is the quality of the agent.”
Nesbitt Realty uses the same Internet, the same MLS, the same advertising streams as the big brokerages. We use the same or better technology tools and we do it without charging our clients an admin fee.
It's also said that besides low fees and technology, the majority of buyers surveyed also indicated that they valued responsiveness in a real estate agent. In fact, it was the most sought-after trait for an agent among buyers. Forty-seven percent of buyers surveyed rated responsiveness as key — even over professionalism, local expertise, and experience.
Will Nesbitt
Our agents pick up the phone. We don't roll you over to voicemail. Not only can you talk to your Nesbitt Realty agent, you can always reach out the principal broker, father and founder of Nesbitt Realty, Will Nesbitt.
Sellers, on the other hand, rated responsiveness as the least important quality to them in a real estate agent. Instead, 44 percent of sellers said “experience selling homes like mine” was the most sought-after trait for them in a real estate agent. You might be surprised to learn that we agree with the respondents. That's why if Nesbitt Realty is not the best brokerage for your property, we'll be the first to tell you. We know what we are good at selling and we know when another agent would be a better fit.
We are a family-run business. You don't have to settle for a national chain.Source: “What Buyers, Sellers Want From Their Agent,” NAR Blog (March 23, 2015)
When you begin thinking about selling your condo, it is a good idea to begin by enlisting the help of a licensed Realtor. Unless you are otherwise experienced in the business of buying and selling condominiums, hiring the help of a qualified professional will enable you to reach a large market of potential buyers, and a good agent will work overtime to help you sell your home. In addition, hiring a Realtor will help ensure that all of the paperwork pertinent to the transaction is executed properly. Once you decide to sell your condo, begin by following the helpful tips listed below to prepare you for the process of selling your condo and enable your Realtor to do their job most effectively.
