Category Archives: Snellville Real Estate
**BACK ON THE MARKET!!**WHAT A BEAUTY…JUST TOO MUCH HOUSE FOR MY CLIENTS! Welcome to your new home w/your own private “park” of a yard! This 4 BD, 2.5 BA split 4-level home boasts of gleaming hardwood floors,formal living & formal dining rooms with plush wall to wall carpet. There is an eat-in kitchen w/stainless steel appliances (including refrigerator) that overlooks the spacious family room w/fireplace (that has a blower & heat retainer to the chimney, screened in sun porch off the family equipped to have its own ceiling fan to enjoy the “park” of a backyard without the bugs.
Hello, Fellow RE Professionals! I know I am a day early as I don’t usually post the new blog until Thursday, but I thought it was especially noteworthy to make this week’s changes with First Multiple Listing Service (FMLS) a part of our blog as being a productive real estate professional you should be kept in the know and as Buyers & Sellers – you will now know what to ask your RE Professional in respect to the status of the listing(s) for which you are interested. READ FURTHER TO LEARN ABOUT THE CHANGES EFFECTIVE TODAY 8/8/2012!
Per FMLS “One of the most common complaints we hear from our members is that agents do not change the status of their listing from Active when there are various conditions in place that may delay a response from the seller upon presentation of an offer. For example,
a) The seller has an offer in hand and wants to receive other offers (multiple offers) before responding to any one of them
b) Seller has set a future date for responding to any offers – “highest and best”
Lenders, banks and government agencies all have their own rules for marketing listings before reviewing offers. We understand that Fannie Mae, Freddie Mac, Wells Fargo, BOA, HUD, etc. may require a specific amount of days to pass while listed in the MLS before offers can be presented to the seller and/or before investor offers can be presented.
Therefore, to help alleviate this issue for our members, FMLS is adding a new required field to all listings:
Availability to Receive Offers:
- No conditions
- Conditions exist – see Private Remarks
As of August 8th, all current active listings will be transferred into the selection “No conditions.” At this time, members should edit all current listings that have ANY restriction or encumbrance such as those listed above, and change the selection to “Conditions exist – see Private Remarks.” Then use the Private Remarks to explain the situation.
As of August 8th, upon entry of a new listing, members will be required to choose a selection for this new field. If the listing is subject to ANY restrictions or encumbrances similar to those listed above, the user must select “Conditions exist – see Private Remarks.” Then, of course they would use the Private Remarks to explain the situation.
Going forward, whenever conditions arise that inhibit the ability of the seller to respond timely to an offer, the listing agent must change the Availability to Receive Offers field selection to “Conditions Exist – see Private Remarks”. And again use the private remarks to explain the situation.
FMLS believes this is the best solution for such a major problem that is plaguing our members. For the listing agents, it allows the listing to still be in the “Active” status. On the selling side, it puts the agent on notice that there is something going on with the listing that may cause delays in the seller responding to offers.
If a listing cannot be shown, that is an entirely different matter. The listing may not remain in the Active status if it is not able to be shown. FMLS provides the following statuses for the most common situations:
- Contingency with Kickout – under contract but contingent upon purchaser selling another property, seller willing to consider other offers
- Contingency Other – under contract with purchaser having a specified time to resolve an outstanding issue(s)
- Contingency Due Diligence – under contract pending result of purchaser’s due diligence review
- Pending Lender Approval – terms are acceptable to seller and purchaser, awaiting Lender action
- Pending Sale – under contract, awaiting closing
Thank you for your continued support. Together, we can solve this issue and serve our members in the best possible way. Should you have any questions, please email us at firstname.lastname@example.org or call us at 404-255-4219 (option 1). We stand ready to serve you.” Make it a WINNING WEEK!
What do you consider a productive day? Today, I began my day with both of my accountability partners, being honest about my progress over the past week and outlining activities to accomplish by next Thursday. I went on from that and attended a training for a platform that we now have to offer our agents and learned about so many benefits to connecting my clients to the Credit Coach software. Then on to checking emails, finding out I needed to get the Gwinnett Police involved with a matter for one of my listings to obtain a police report. Met the police at the property, took pictures of the damages to upload to the asset manager. Talked to a perspective agent about joining our office yet will definitely have to coach her in handling short sales effectively (I look forward to this!). Then inspected 4 HUD properties and to ready one to close. Stopped by my mentor’s to see the package that was sent to me from my out of state mentor…this amazed me and showed me just how well God chooses to bless me. Then stopped to make a bank deposit…got Burger King Veggie Whopper to hold me til dinner…in between time talked to Criss Cross rep, Bank of America, wrote out a plan for a Agent Jumpstart (UPCOMING & EXCITING), made a list of others that could benefit from Credit Coach and shared the link with 3 people right after my initial post on FB regarding the benefits. Whew! I am still energized! I am going to enjoy dinner with my husband and son then upload reports to Asset Manager and prepare my reference sheet for a paper I have due in 2 weeks…Oh, I also will get commercial properties to a prospect looking for a space for a school. I know I’m forgetting something else that was done all the while receiving calls from other agents to show my listings and buyers interested in purchasing. I lead an exciting life and I love what I do. Can u say the same thing? If not, what has to happen for those to be your words also?
Many Landlords are conflicted when it comes to deciding to whether they should manage their rental property themselves or hiring a firm to do it for them. Most are hopeful that they will have the best Tenants that pay their rent on time, have minimal concerns, and take excellent care of the property. Please be advised that some are and collecting the rent and doing regular inspections are a breeze, but for every 1 that this is true of, there are 20+ that does not apply! So, please take caution. Here is what the Landlord has to decide:
1. Do you want to interact with the Tenant or would you rather someone else did that on their behalf?
2. Are you prepared to handle emergency and regular repairs in a timely fashion?
3. When the Tenant is late on paying you, are you prepared to file the proper documentation in the respective court and appear to defend your desire to collect with damages?
4. Are you prepared to screen all applicants prior to them taking occupancy of your property?
5. If you are out-of-state, are you able to provide necessary oversight?
This is a sampling of the questions that I recommend Landlords honestly answer apart from the financial obligation you think you will have in hiring a firm. It is about making an informed decision. We have more questions depending on your situation as well as flexing le payment options and reserve standards. Feel free to give us a call for more details and for a hassle-free assessment of your options, 866-934-3948. Serving the Atlanta Region.