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What are Real Estate Agents?

  • Real estate agents are go betweens for buyers and sellers for real estate property.  Realtor Logo
  • All real estate agents have to be licensed by their state or such as of the Commonwealth of Virginia.
  • Every real estate agent has to be affiliated with a real estate broker. A broker is a real estate profession with higher educational requirements and a minimum of 3 years of full time real estate experience.
  • A realtor and broker have to be a member of the National Association of Realtors.
  • Both realtors and brokers agree to follow the high standards of ethics and participate in any continuing education programs.
  • A real estate agent represents a buyer or seller, renter or landlord, having their best interest at heart.
  • Agents can work in a dual capacity in certain circumstances representing both parties.
  • A real estate agent’s duty is to truth and honesty and will explain what obligations state law imposes.
It is alright for you to shop around and decide on which agents and agencies you could work with comfortably, it is fair and ethical that you work with only one agent to help you buy or sell your home. This is the reason why real estate agents will ask you if you already have representation prior to working with you. For more information or to set up an appointment call Julie at (703)765-0300.
Nesbitt Realty
Nesbitt Realty is a family-business and we are ready to serve you.

Questions for your condo agent

condo Realtor
Think of Nesbitt Realty for condos and condominiums in Northern VA
Here are some common questions to ask your agent, your mortgage broker and yourself when you are thinking of buying a condo.
  • How much can I afford per month?
  • Is the condo is my price range?
  • Do I like the community?
    • Where are the grocery stores, shopping malls, bars?
  • Is there enough space for my needs?
  • What is the condition of the condo unit?
  • Do the common areas need repairs, renovations?
  • How old is the condo?
  • Is there a parking facility?
    • Is parking assigned?
    • Is there a fee to park?
    • Is there guest parking and if so where?
  • Does the condominium have access to public transportation?
    • Metro or bus only?
    • Shuttle or Limo service?
  • What are the chances that this condo will increase in value?
  • What type of security system is in place?
  • Does the condominium association allow pets? If so how many and what type?
  • What are the condo fees and what they include?
  • What is the condo association policy about renters?
  • How much is in the reserve fund?
  • Does the condo association have a certificate of insurance?

Properties in

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Explore homes in Clarendon
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See Homes in Clarendon
Explore homes in Clarendon
$address
See Homes in Clarendon
Explore homes in Clarendon
For more information or to set up an appointment call Stuart at (703)765-0300.

Finding the right condo

I met a potential client who told me that she had been looking for two years for a condo.  She called me because she wanted to see a particular property in Belle View.  After establishing that she didn't have an agent, I showed her Belle View.   I practically had to drag her to see a property I thought she would like based upon her input. That property was Montebello, and she absolutely loved it and was amazed because she wouldn't have had a clue that Montebello existed if it wasn't for me.
exterior with shuttle
Shuttle bus
A few days later, she wanted me to tag along to another property that she had found at my property search site.  That prompted me to "set the record straight" with some frank talk. Obviously, I would love the opportunity to be of service to her. I appreciate and value each client and always need one more client. But there are limits to what I can and will do and this is for the protection of both the client and myself. When I take on a client it is because I know I can add value to my client's end of the transaction.  I add value by finding right property at the right price. As I have demonstrated to her and others, I know the condos of Northern Virginia very well. Additionally, I can be a pretty tough negotiator when the time calls. Thus, if a client allows me to represent him or her, I think it's important that I go with the client whenever the client views properties (with the possible exception of open houses).  So, to answer her first question, of course I want to go with a client when a client has interest in a property.  But, when I see someone who has been looking for two years, three years, and has probably burned through a couple of agents who threw their hands up in frustration, I think it is important establish a few facts. There are two primary reasons why a buyer takes a long time to select a property:
  1. The buyer either has unrealistic expectations; or
  2. The buyer does not have clearly defined goals.
When expectations are unrealistic, the best thing that I can do as an agent is to apprise buyers of reality and wish them well in their search. This is not because I'm a tough guy, but rather because it would ruin me a professional to chase the impossible. To use a metaphor, maybe bigfoot exists.  I've heard that people saw him.  But if I made my living as a game hunter, I'm not going to spend my time (the only thing I really have) trying to catch bigfoot.  I'll wish you well if you are looking for bigfoot, but I'll stick to game that I pull from the forest every single day. In this case, the buyer had a reasonable assessment of reality but she didn't really know what she was looking for. In other words, she didn't have clearly defined goals. The client's method for finding a condo was simple: she randomly searched the Internet and other media to identify prospects. She then visited the potential location and then moved on to something else. That method will use up a lot of time and energy.  I'm not saying the random selection method NEVER works, but in this case the client had already spent two years and hadn't found the right property. Obviously, a buyer needs to see some properties to get an idea of what is available.  But what doesn't make sense is to randomly shop units to find what you want.  Northern Virginia (Arlington, Alexandria, Fairfax County) is a huge metropolitan market. There are so many condominiums in Northern Virginia that a person won't be able to see them all. (Unless like me, the only thing you do is look at condos all day.) I told this client gently but firmly, what I thought made the most sense. I told her the truth.  That is, instead of the client leading me around and letting me open doors so she could find a condo, I would play the part of the expert. As an expert, I would asked pointed questions and listen carefully to her replies. In this way, we can define exactly what it is that the buyer is looking for.  Then, after we have established the goals, then it makes sense to begin touring the selections that I recommend. With each condominium we visit, I'll learn more about her needs and we'll get closer to the property that this client will eventually buy.
  1. Define goals.
  2. Refine goals.
  3. Buy.
Simple, effective and good for the client and the agent.

Properties in

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See Homes in Alexandria
Explore homes in Alexandria
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Explore homes in Fairfax County
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

What’s the difference between a real estate broker and a real estate agent?

Realtor LogoIn the Commonwealth of Virginia a real estate agent is a person who is licensed to be paid a commission on a real estate transaction. Real estate agents have minimal educational requirements but must pass a test for licensing. After that, the agent must follow up with continuing education to stay apprised of updates in real estate law. Real estate agents may not work independently and they must affiliate with a real estate broker. Real estate agents may not work independently and they must affiliate with a real estate broker. A real estate broker has a higher education requirement than a real estate agent. In addition a real estate broker must have 3 years of full-time work experience as an agent in order to qualify for the process of becoming a broker. Broker's are responsible for supervising the efforts of any agents whose licenses are affiliated with them. Because the broker has a deeper understanding of real estate laws and practices, agents often come to their broker when they have questions or need assistance. There are three types of brokers: a managing broker, an associate broker and a principal broker. Every real estate firm in the Commonwealth of Virginia has a principal broker. The principal broker is the primary licensee from which all licenses at the firm are authorized. A principal broker is uniquely responsible for the actions of every affiliated agent or broker. In addition to managing the burdens of real estate law and practices, the principal broker is responsible for the actual business practices of the brokerage. At some point, a brokerage can grow too large for one broker to manage. In addition some brokerages have multiple offices. For this reason a principal broker may need to appoint managing brokers. A managing broker has all the education experience that a principal broker has, but the managing broker's responsibilities are generally limited to the management of agents and offices. Most real estate agents at most chain brokerages report to a managing broker and only rarely interact with the principal broker. At Nesbitt Realty every agent has immediate access to and direct supervision from the principal broker. An associate broker is a broker who has fulfilled all the educational requirements to be a broker, but the associate broker does not assume a managerial position. An associate broker is affiliated with a managing or principal broker. An associate broker requires minimal supervision, the supervising broker is still responsible for the associate broker's actions. For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

How are rental agents paid?

I just received this:

I am a student interested in the field of real estate. I understand that a real estate agent makes money on the sale of a property based upon a percentage of the final sale price. I was wondering how a real estate agent makes money on a lease of a rental property?

Thanks for the help, Jim

A landlord lists his property with a real estate agent for a number of reasons. The landlord benefits from the agent's experience and connections, but also because the agent has access to the MLS (or Multiple Listing Service) and other venues for promoting the rental property. There are many ways that a rental listing can be charged, but most usually the landlord agrees to pay a portion of the first month's rent to the listing agent.  The more the rent, the higher the commission paid.  Landlords are generally happy to pay this because a listing agent saves them time and money (as compared to ads in the paper plus dealing with calls from unqualified renters). If the renter has his own agent, the listing agent will pay a predetermined portion of the commission to the selling agent (as the renter's agent is called).  Please let me know if this helps.

Finding the perfect fit in {Location_Name}

Rental hunting may be viewed as a frustrating and daunting task. Finding the perfect property that suits both your lifestyle needs and budget may be difficult. The sheer number and variety of choices may be overwhelming, especially for first time renters. There are, however, three basic steps to narrowing down your choices. Step One: Set a realistic budget and stick to it. Step Two: Discuss your needs and requirements with an agent who will then be able to locate and research suitable properties. Be clear about what you are looking for. Does the property need to be near a metro? Do you have pets? Do you want to be in a particular neighborhood? These are all aspects of your lifestyle and needs that your agent needs to know if they are to locate the perfect property for you. Step Three: Allow your agent to help you make comparisons and advise you on which properties in {Location_Name} best suit your needs. A Rental Agent costs the renter nothing, and his/her guidance is invaluable when it comes to locating a property that works for you.   Learn more about Rental Agents. For more information or to set up an appointment call Stuart at (703)765-0300.

Take the Stress Out of Homebuying

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.
Julie Nesbitt
Julie Nesbitt
1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality. 2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long. 3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home. 4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.
decks
Decks
5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take. 6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life. 7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers. 8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate. 9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased. 10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

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  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

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What do real estate agents do?

When selling property, brokers and agents arrange for title searches to verify ownership and for meetings between buyers and sellers during which they agree to the details of the transactions and in a final meeting, the new owners take possession of the property. They also may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do.

Duties to Sellers

Agents and brokers spend a significant amount of time looking for properties to sell. They obtain listings---agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Following the sale of the property, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus, agents who sell a property that they themselves have listed can increase their commission. The listing firm and its agents must
  • promote the sellers' best interests
  • be loyal to the seller
  • follow the sellers' lawful instructions
  • provide the seller with all material facts that could influence your decisions
  • use reasonable skill, care and diligence, and
  • account for all monies they handle for the seller.
Once you have signed the listing agreement, the firm and its agents may not give any confidential information about you to prospective buyers or their agents without your permission so long as they represent you.

Duties to Buyers

If the real estate firm and its agents represent you, they must
  • promote the buyers' best interests
  • be loyal to the buyer
  • follow the buyers' lawful instructions
  • provide the buyer with all material facts that could influence your decisions
  • use reasonable skill, care and diligence, and
  • account for all monies handled for the buyer.
Before showing residential properties to potential buyers, agents meet with them to get an idea of the type of home the buyers would like. In this prequalifying phase, the agent determines how much the buyers can afford to spend. In addition, the agent and the buyer usually sign a loyalty contract, which states that the agent will be the only one to show houses to the buyer. An agent or broker then generates lists of properties for sale, their location and description, and available sources of financing. In some cases, agents and brokers use computers to give buyers a virtual tour of properties that interest them. Agents may meet several times with prospective buyers to discuss and visit available properties. Agents identify and emphasize the most pertinent selling points. To a young family looking for a house, for example, they may emphasize the convenient floor plan, the area's low crime rate, and the proximity to schools and shopping. To a potential investor, they may point out the tax advantages of owning a rental property and the ease of finding a renter. If bargaining over price becomes necessary, agents must follow their client's instructions carefully and may have to present counteroffers to get the best possible price. Once the buyer and seller have signed a contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. The agent must make sure that any legally mandated or agreed-upon inspections, such as termite and radon inspections, take place. In addition, if the seller agrees to any repairs, the broker or agent ensures they are made. Increasingly, brokers and agents are handling environmental problems as well, by making sure that the properties they sell meet environmental regulations. For example, they may be responsible for dealing with lead paint on the walls. Loan officers, attorneys, or other people handle many details, but the agent must ensure that they are carried out. Most real estate brokers and sales agents sell residential property. A small number---usually employed in large or specialized firms---sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of property and clientele. Selling or leasing business property requires an understanding of leasing practices, business trends, and the location of the property. Agents who sell or lease industrial properties must know about the region's transportation, utilities, and labor supply. Whatever the type of property, the agent or broker must know how to meet the client's particular requirements. Brokers and agents do the same type of work, but brokers are licensed to manage their own real estate businesses. Agents must work with a broker. They usually provide their services to a licensed real estate broker on a contract basis. In return, the broker pays the agent a portion of the commission earned from the agent's sale of the property. Brokers, as independent businesspeople, often sell real estate owned by others; they also may rent or manage properties for a fee.

After Presenting an Offer

After the process of picking out your dream property, the offer is to be written along with proof of Earnest Money and lender approval, your real estate agent will present the offer to the selling said. This is where we, real estate agents use our expertise in presenting the offer, because it just doesn’t end there. It’s not simply handing the documentation to the listing agent and then wait patiently for their response. It is essential that the offer be over and for the fact that bargains do not last forever, we call up the listing agent to inform that the offer had already been sent over. It is during this conversation that details be shared with the listing agent such as background information about our clients as to what would reflect as to what you would be looking for. We can describe as to how qualified you are to buy the property and how many properties we have looked at and that there are certain aspects or features about that home you sincerely appreciate. As real estate agents, we review and explain all details of the offer such as inspections, date of closing, contingent or non contingent, pricing and the like. We also discuss a timeline to outline the milsestyones from the offer to settlement. Contact Nesbitt Realty http://nesbittrealty.com 1451 Belle Haven Rd. #222 Alexandria VA 22307 LICENSED IN VIRGINIA 703 765 0300 888 783 6391 (fax)

Let a Real Estate Agent Help You Buy or Sell Your Condo

When buying or selling a condo in Alexandria, VA, the role of a real estate agent plays an important part during the process and the closing of a sale. As a seller, your real estate agent –
  • Help you in analyzing its fair market value
  • Help prepare the condo for selling quality
  • List your condo to get it out in the market efficiently
  • Negotiate in pricing with potential buyers
  • Complete your sales agreement and finally close the sale smoothly
As a buyer, your real estate agent can –
  • Help you decide what is better for you, renting or owning
  • Assist in preapproval in mortgage
  • Locating, viewing and selecting the right condo
  • Help you in analyzing its fair market value
  • Help prepare the condo for selling quality
  • List your condo to get it out in the market efficiently
Get your dream condo with a real estate agent’s help. Contact Nesbitt Realty http://nesbittrealty.com 1451 Belle Haven Rd. #222 Alexandria VA 22307 LICENSED IN VIRGINIA 703 765 0300 888 783 6391 (fax)

Pre-approvals Before Home Purchasing

Purchasing a home is a process that cannot go smoothly unless you take it step by step. This is where having a real estate agent is important. It is essential that you are prepared and already have a loan secured. Securing it early will assist you in making decisions with your home purchase. With a secured loan, you can either broaden or lessen your prospective homes as you would need the price to be within your budget while your offer will be good one as you are ready to buy. Getting the finances in order will make the process quicker without hindrances. Let a real estate agent assist you with your home purchase decisions.

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

    Read More

  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

    Read More