8 Top Tips to Sell your home fast! Buyer's Edge, exclusive buyer's agents in Maryland, Virginia, and DC, share their perspective. Pretty Much A No-Brainer. So Why Do So Many Sellers WITH Brains Forget To Follow These Top 8 Tips?Read More
Buyer's Edge Blog - Joyful Journey
Buyer's Edge oldest Buyer Brokerage in Virginia, Maryland and Washington, DC recommends to homebuyers to trim and cut down trees in the winter. Hire Yokley Tree Service to get the job done right at reasonable rates.Read More
The higher level of Exclusive Buyer's Brokerage service is what sets Steve Israel and Buyer’s Edge apart. Exclusive Buyer's Agents in DC, MD & VA offer Buyer Clients transparency, trust, and trust.Read More
Posted on Monday, May 22nd, 2017 at 3:42pm.
Is The Traditional Real Estate Model Under Pressure?
Asked to comment on changes affecting the traditional real estate model, Stephen Carpenter-Israel, President and Broker of Buyer's Edge, said that the increased use of house hunting websites, as well as a recent California Supreme Court ruling on the practice known as "dual agency" are shaking the industry to its core.
Tech Has Led to Increased Demand for Transparency
Over the past decade, consumers' widespread embrace of technology spurred the creation of firms such as Zillow, Trulia, and Redfin. "These online databases disrupted the 'cartel' of the old brokerages that used to monopolize access to property data" explained Carpenter-Israel.
In essence, these tech firms revolutionized house hunting by giving consumers free access to information on their smartphones, empowering them to look for better ways to buy or sell their homes. While this disruption brought greater transparency to the way the industry operates, "homebuyers are still turning to agents to help them parse through the noise and evaluate the true value of properties," said Carpenter-Israel.
With more information at their fingertips, there is a trend toward better-educated homebuyers and sellers becoming skeptical of the traditional brokerage model. "As clients become savvier, they are increasingly looking for a true fiduciary relationship with their realtor," said Carpenter-Israel. "They are demanding transparency and loyalty with no conflicts or competing interests."
California Legal Battle: The End of Dual Agency?
In fact, the courts are beginning to pressure brokerages to deal more openly with what has historically been a fairly secretive system explained Carpenter-Israel. "In fact," he said, "The need for increased transparency and full disclosure was the focus of a recent California Supreme Court ruling that may change the structure of the industry."
The litigation revolved around the practice of "dual agency" when a real estate broker is representing both the buyer and seller. In this case, the California Supreme Court ruled in favor of the home purchaser who said he overpaid because the size of the house was misrepresented by the listing agent, who worked for the same company as his buyer's agent.
"The ramifications of this ruling may lend credence to the case for eliminating dual agency and push the industry to accelerate the trend towards brokerages choosing to exclusively represent either buyers or sellers, but never both," said Carpenter-Israel. "With 25 states having already eliminated an individual agent's ability to serve as a dual agent, the timing may be right for a meaningful change."
Recently, California state representative Lorena Gonzalez Fletcher introduced legislation that would prohibit the practice of dual agency in commercial real estate transactions.
The proposed legislation may be the first of many efforts across the country that would fracture the traditional model of commercial and residential real estate firms representing both sides the deal. Ultimately, the outcome of these legal battles may require completely separate real estate firms to represent each side, not just provide a disclosure of the conflicts.
LEARN MORE ABOUT THE PROBLEMS WITH DUAL AGENCY →
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"There are First-Time Homebuyers out there who have always wanted to live in Takoma, Park MD, but can't come up with the down payment needed to buy their first home." explains Stephen Mercer, Exclusive Buyer's Agent with Buyer's Edge an Exclusive Buyer's Brokerage Real Estate Company in the Washington, DC Metro Area. As a Takoma Park resident, Stephen shares with homebuyers, "Luckily, there's a pilot program being offered in Takoma Park, Maryland that might help out First-Time Homebuyers, but they have to hurry. There're just 5 grants being offered."
The Home Stretch:
Down Payment Assistance Program
#1 Some of the Eligibility Requirements:
Maximum Income Requirements
All Applicants Must Contribute at Least $1,000 of Their Own Funds Toward Purchase
The Home Purchased with Assistance From The Home Stretch Program Must Serve as the Applicant’s Principal Residence
Complete a Homebuyers Education Course
Single Family Home or Condo Must be Located in Takoma Park, Maryland
Home Must Successfully Pass a Certified Home Inspection
#2 A $10,000 Grant is Awarded
ONLY 5 Applicants on a First-Come, First-Served Basis and is Used Toward the Down Payment.
20% or ($2000) is Forgiven each Year for 5 Year Loan Period.
If the Home is Sold, Refinanced or Vacated within the 5 Year Period-Owner is Responsible for the Remaining Loan Amount that Hasn’t Been Forgiven.
#3 Get More Information and Complete Online Interest Form
Stephen Mercer explains, "Once First-Time Homebuyers have completed the application process and hopefully been accepted, they will need to reach out to a preferred lender who will walk them through the loan process and get them pre-qualified. After that, they can start to search for their very first home!
What can you buy in Takoma Park, MD? SEARCH HOMES FOR SALE TAKOMA PARK, MD Now.
THE TRUMP EFFECT! - Prices of Luxury Homes for sale in Washington, DC SKYROCKET. List prices are up 31% in some of Washington's Finest neighborhoods. Choose to hire an Exclusive Buyer's Agent VA, DC, MD. BUYER'S EDGE.Read More
Probably the most important system heading into winter. Have a HVAC company check or tweak your system $50 - $100. You can change air filters every couple of months or longer with better quality filters. If your HVAC includes a built-in dehumidifier make sure you or the service contractor changes that one as well. Radiant heat-radiators will have a circulating pump attached to the furnace- find the tiny oil cap and drop 10-15 drops of (3 in1 oil) to keep bearings lubricated.
MLS Search for DC, MD, VA Active Real Estate Listings Now
Remove all garden hoses from outdoor faucets to stop water trapped within from freezing and causing an interior leak. Extra precaution would be to turn off any shut-off valves feeding those exterior faucets.
Meet Stephen Mercer, Exclusive Buyer's Agent with Buyer's Edge Buyer Brokerage DC, MD, VA
Store indoors for the winter if possible. If you have a gas mower it is preferable to empty the gas. If you can’t - add engine stabilizer to the remaining fuel in the tank and run for a few minutes to let the stabilizer reach the carburetor. This will certainly help to get the mower to start come spring.
Roof & Chimney:
You may be able to evaluate the roof condition with binoculars from the ground. You are looking for loose or missing shingles- they should be replaced immediately. The crown at the top of the chimney should be intact and angled away from flue liner (orange) The chimney cap prevents birds and critters from making a home In your chimney- check it is clear of nesting birds.
Ensure gutters are free of leaves and gunk as this will help prevent overflowing gutters during downpours – in freezing temperatures it will also help prevent ice damming- which occurs when gutters can’t drain and the standing water freezes- if the ice/snow is then allowed to build up it may make its way under the roof shingles causing damage to the interior once that ice melts. Check to see if your downspouts discharge water at least 6-8 feet away from your foundation - if not, add black pipe extensions and make sure the pipe flows downhill and away from the property.
LET IT SNOW! YOU'RE READY AND IN GOOD HANDS!
As Exclusive Buyer’s Agents at Buyer's Edge, we can’t help them sell their home since we represent buyers 100% of the time. However, they still ask our advice since they know we work on a daily basis with some of the best seller’s agents in the area. We want our past buyer/clients to experience the same level of high quality, professional service that our Exclusive Buyer’s Agents gave them when they purchased their home.
SEARCH DC, MD, VA For Recently SOLD HOMES and CONDOS HERE. Get Accurate Comps Now.
What's Important to Our Clients When Selecting an Agent?
In an effort to continue to provide leading Exclusive Buyer Brokerage Services, Buyer's Edge conducted a survey of our clients in 2017. Though our objective was to find out what we were doing right and how we could better serve our clients, it also provided our team with insight into what qualities matter most to homebuyers when picking an agent.
So what did we learn?
When selecting an agent, key factors for our clients were:
- Finding an agent they could trust to protect their interests...
- ...that had deep knowledge of the home buying and negotiation process...
- ...who was well positioned to offer them deep local knowledge...
- ...and responsive client service
98% Client Satisfaction
In 2017, we were pleased to learn that 98% of our clients surveyed were satisfied with their home buying experience.
Moreover, we found that Buyer’s Edge's Net Promoter Score of 94...
...was on par with some of the world’s leading brands...
...and far above real estate averages
See here for more info on Net Promoter Score (NPS).
What does this mean for our Exclusive Buyer's Agent Model?
EBA status wasn't the first thing our clients considered... However, our unbiased representation allows us to better protect our clients' interests.
In particular, our clients cited:
- Our team’s expertise, style, and responsiveness...
- ...and that exclusivity helped foster a relationship of trust
We also learned that our buyer-centric philosophy boosts our clients’ confidence in recommending us to friends, family, and co-workers going forward. Greater than 75% of our clients in the past 2-3 years have recommended us two or more times.
Ultimately, the Buyer’s Edge experience is about loyal, friendly & responsive representation and education that helps our clients “find the right home." We love what we do every day because of clients like you.
If you have any questions, please don’t hesitate to reach out! Or check out the full
Every day houses for sale in the Washington, DC metro area and Baltimore, MD region are imputed into MLS online. Preparing a home for sale in VA, DC, MD can be a momentous task both for sellers and listing agents, especially if they want to make it picture perfect. After all, home sellers and their listing agent’s objective is to get the highest price at the best possible terms for the property. As the listing agent and listing broker, they have a contractual fiduciary relationship with their seller/clients.
There’s a lot of information written about all the prep work that needs to be completed before a home hits the market. Most sellers paint their homes inside and out, replace tired carpet and wash windows until they sparkle. They plant flowers outside and spruce up the exterior curb appeal. Closets and kitchen drawers are cleaned, de-cluttered and downsized. Sterling silver candlesticks, heirloom jewelry, expensive china figurines and personal photos of Great Aunt Frinks are put away. Lastly, many homes are staged to give them that glamorous, generic look that seems to really “trick” homebuyers according to numerous studies.
As Exclusive Buyer’s Agents, we don’t let our homebuyers get “tricked” by staging. However, we do know what items are deal busters for many of buyers in Washington, DC, Maryland and Virginia.
Here’s the #1 Best Kept Secret for Selling your Home Fast That is Often Overlooked by Listing Agents and Sellers in DC, MD, VA.
#1 Hire a Professional to Wash the Roof
All Photos from RoofCleanBright.com
Sellers shampoo carpets and power wash decks before their house is put on the real estate market, so why do so many sellers fail to wash their roofs Don’t do it! It’s so easy and it actually works. If your roof is dirty don’t throw away money because it looks like it is on its last legs. Homebuyers are fixated with the condition of a home’s roof, since it ‘s such a big-ticket item.
A home inspector will give homebuyers the actual lowdown on the roof condition, but don’t let a dirty roof discourage qualified buyers from making offers. If sellers make the roof look fresh and new, it’s one less thing buyers have to do when they move in. It’s a win-win for everyone. It doesn’t cost sellers that much and it adds to the total “dream house package.”
Cleaning the roof before resale is clearly a no-brainer. Victor Fedoseyev with RoofCleanBright.com explains, “The results are simply amazing for most homeowners. Customers find that our eco-friendly, biodegradable roof cleaning removes ugly stains caused by algae, lichen, moss and fungus.”
I love these Before and After Photos, don't you?
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