The real estate market is always changing! It is my goal to constantly share what I see in the world of Twin Cities real estate by bringing to you a little bit of my everyday life as a Realtor. Be sure to find me on Instagram and Facebook to stay up to date on best practices and market trends that could help you strategize buying or selling your Minnesota home!
As a prospective home buyer, you're now required to enter a written agreement with an agent before they can show you a home. Don't rush into signing with just any agent; treat the first step of home buying as an interview process. Adopt a "hire your Realtor" mindset rather than just "choosing" one to avoid potential issues.
Realtors vary in skill and work ethic, so it's crucial to ask questions to ensure the right fit. Consider their communication style, availability, experience, problem-solving skills, and strategies. Also, evaluate how they present offers, negotiate, and their overall vibe. Feeling a genuine connection with your agent is vital, as it ensures they care about your goals and experience.
Sounds great, right?
I’m seeing a lot of professionals in my industry talk about how great this is.
Anyone that has worked with me knows I’m not a “rose colored glasses” realtor, and I will always transparently talk about any potential risks involved in any decisions my clients are making.
A big shake up in the world of real estate has made for a bit of a chaotic week.
HUGE changes were made to our real estate contracts, and if you don’t hire an agent who FULLY UNDERSTANDS these changes, it could end up costing you A-LOT of money.
In a short time frame, as a listing agent I have seen many mistakes made already.
TIP - Ask any Realtor you interview what their offer reviewal process is. If the phrase “offer summary sheet” is any part of their answer, run! 🚩 🚩 🚩
It is our JOB as real estate professionals to review and read these contracts for our clients. Using an offer summary sheet is pure laziness. There, I said it.
Hire 👏🏼 your 👏🏼 agent 👏🏼 wisely.
⚠️ WARNING ⚠️
Alright, I talked about a shake up in the world of real estate and shared a warning around a concern I have for future home buyers.
Well this weekend I got a call and there it was, unfolding just as I predicted.
This home buyer called me to inquire on a listing of mine and has some questions. The questions she was asked me had lead me to believe she didn’t have an agent.
Further into the conversation she shared with me she signed a contract with a random agent out of excitement and FOMO to see a home.
She shared that once that agent had her under contract, the agent lost all urgency to show her any homes or answer any questions she had.
She said she feels like she’s now stuck in limbo with an agent that doesn’t have the passion to educate her or help her purchase her first home.
She said she learned more from me in our 20 minute phone call than she has in the time that she’s been “working” with the agent.
That’s a SAD story if I ever heard one.
Since some BIG changes have come into effect regarding real estate contracts, I wanted to share with you guys what I am seeing so far.
These form changes have a lot of real estate agents confused.
I’m seeing agents talk about these forms on social media incorrectly, and some even complaining about them.
Even scarier, I’m seeing errors in purchase agreements that could end up costing a seller a-lot of money!
5 out of 6 offers I received this last weekend were written incorrectly regarding the new line for buyer broker compensation.
On a separate note, ‼️BUYER BEWARE‼️
1 of the 6 offers that I received was $105K ABOVE LIST PRICE. I presumed it was a mistake, so I reached out to the agent via text to confirm it was, and all she said was “yes.” 😳
HIRE an agent who fully understands real estate contracts and meticulously reviews them for you so that you are PROTECTED!
If you don’t, it will end up costing you. 💯
A quick reminder today to make sure you set aside time to take care of YOU!
Burn out is a real thing that EVERYONE experiences at one point or another.
Don’t end up like me and completely lose it over a basket of mismatched socks 🧦 😂
Be kind to others, and don’t underestimate what they’ve got on their own plate.
Make today a great day! 🤍
⁉️Should you work directly with the listing agent when purchasing a home⁉️
A few weeks ago, I got an email that allows me to offer a little bit of a different perspective on this hot topic in the world of real estate.
There are a handful of buyers that think working directly with the listing agent will “get them a deal” or save them money. Commissions are negotiated up front, and if anyone is “saving money” in this scenario, I can tell you it’s more than likely the seller.
My head wants to explode when I think about where to even begin when justifying the value that a GOOD buyers agent brings to the table, and the importance of having your own representation.
In this scenario, the buyer didn’t even get a chance to view the home because they are choosing not to hire their own representation.
Monetary factors aside, this prospective buyers email allowed me to add to my perspective on the matter and I wanted to share!
Alex Murray - Edina Realty
There’s No Place Like Home 👠
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