A Day In The Life of a Realtor

Realtors have a busy job that sometimes looks different from one day to the next. In addition to staying on top of what current real estate regulations and trends are happening within their sphere of work, real estate agents have a multitude of other tasks that come with the job of helping people through the process of buying and/or selling homes. For me, these tasks are part of what makes my job fun, and the different things that transpire week after week, are what keeps things interesting and exciting. Here’s a snapshot of what my days as a realtor looks like.

#1: Driving by homes.
I know that my clients are on the hunt for the right home, so I am on the lookout for homes that could work for active buyers that are in the market for their next space to call home.  Having an idea of what each client wants means that I won’t be bringing them to homes that are clearly not what they want. This saves time for all parties involved!

#2: Handle multiple emails/phone calls.
Aww, the never-ending list of inbox emails and phone messages. A lot of people can relate with this, so I make sure I spend time each day emailing and calling people that have requested assistance. Most of the time, I’m coordinating multiple details regarding showings, closings, offers with clients, escrow, lenders, and more!

#3: Coordinate details for new listings.
Considering selling a house? I work with many people that are not sure if they want to sell yet, so for these people, I work up a Comparative Market Analysis that provides information on recently sold properties in the area. These reports look at houses that are somewhat similar and give real estate professionals an idea of what price a potential client’s home could be listed for.

If you’ve just listed a house, there are a lot of little details that need to come together before it goes “live” to the public. For example, we’ll need to prep for an open house by ordering printed materials and snacks, order a sign for the yard, and put a lockbox on the listing so pictures can happen. These are just some of the things that need to happen before we can start showing the home.

#4: Go over repairs and other mid-sale to-dos.
For clients that have found a home that they’ve put an offer in on, there are often repairs that need to be requested. As a buyer’s agent, to determine a list of reasonable repairs and will advise which items are necessary and which could be left out. As a seller’s agent, I will review and recommend to the seller what the buyers requested, and which ones should be completed.

#5: Coordinate paperwork and financial details.
Once a home is ready to close, there are several pieces of paperwork and other financial details that need to be coordinated. There are often questions on specific terms within the paperwork as well as questions on when things will happen once papers are signed.  Whether it’s leaving a check for the contractor at a pending sale or laying out a schedule before recording for a client who will sign out of town, I work with clients to help make the paperwork process as easy as possible.

My daily responsibilities as a real estate agent require a balance. However, with my two decades of experience and my combined love of meeting with all varieties of clients, real estate is a natural fit for me. Contact me today for information on what it will take to start your adventure in buying or selling a home.

Posted on April 4, 2018 at 6:10 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , ,

What is a title company’s role in my purchase/sale?

If you’re in the process of buying or selling a home, chances are, you’ve run into some questions along the way. This is one of the many reasons why your Realtor® plays a valuable role each step of the way. One of your questions may have been what role the title company will play in your purchase or sale.  In Clark County, escrow and title services are completed through the same company, but each department has different roles and tasks. Here is some helpful information that can help clarify what the title company does as well as what the differences are between escrow and title.

Title:
At the time your property is listed, thorough agents will request a preliminary title report. This will show loans, taxes (property and excise), certain kinds of personal debt (tax liens/back child support), which must be paid when the sale is completed. Of course, the total of these should be less than the purchase price of the home.

In addition, easements, road maintenance agreements, HOA information, and CC&R’s will also be on the report. These are examples of items that will stick with the property. Reading the title report will allow your Realtor® to know about any trouble spots that come with the property before closing happens. Once there is an accepted offer, the buyer and the lender are added to supplemental reports.

Escrow:
Escrow includes collecting all necessary documentation to allow the property to transfer over to the new owner. Escrow also will pay off underlying encumbrances (ie. Liens on the property), will place new encumbrances, and make the property transfer with the County. The escrow team will work up the costs for both seller and buyer, including pro-rated property taxes, pro-rated HOA dues, costs from the buyer’s lender, and closing utility bills that could become liens on the property (water and sewer).

While each real estate transaction is different, there are still some basic action items that need to happen with each one. The title and escrow company play a crucial role in the closing process. I will help walk you through the various steps to make sure you understand what you need to do.

We’re officially into 2018 now and it’s a great time to buy or sell your home. Contact me today to explore how to get the ball rolling.

Posted on January 2, 2018 at 11:22 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , , , , , ,

The Closing Process: From the Seller’s Point of View

So you’ve made it through the home inspection and the appraisal on your home sale and now you only have to ‘finish up’ with the closing, right?

First of all ‘closing’ is a process not an event.  There are lots of steps involved in the last week before recording, which is actually when the home changes ownership.  As of October 3 of this year, there is a new federal set of guidelines (TRID) that involves a very complicated sequence of timed events which must be taken into account as we schedule this last week of activities.

There are two perspectives for all this: one for the seller and one for the buyer. However, they are totally intertwined.  It starts with the final approval of the loan and the generation of a financial summary of the transaction called the Closing Disclosure.  Depending on the bank (and different ones are reading the guidelines differently), this disclosure must be delivered to the buyer and acknowledged by them. After this, there is a waiting period of at least 3 and up to 7 business days.  Most lenders will not let anyone sign until the waiting period is over.  Then, loan documents are generated, sent to escrow, and the signing appointment is set up.  Both parties will sign (not at the same time) and then escrow gets clearance from the lender to record. Once recording occurs, the seller gets their funds.

This process of course gets more complicated if the buyer is getting their funds from a property sale (now there are two sets of TRID guidelines) or someone is out of town (at least one of the seller documents—the deed—must be signed ‘wet’ and the original returned to escrow before recording) or any number of logistic elements. 

Here are some tips that can help the closing process go smoothly:

Tip #1: Stay organized.
Realtors are trained to help walk you through each step of the closing process, but it is helpful to keep your Realtor in the loop in regards to packing, moving, and where you will be living during the last week of the closing process. Keeping organized will help reduce any frenzied feelings and will help save you time in the long run.

Tip #2: Be patient.
Patience is key during this process. You likely want to get things done as quickly as possible, but the closing process will take some time and if you know this going into it, you’ll be better prepared to make it through without a lot of stress. 

Thank goodness you have an experienced guide through all this—me!  We’ll work it all together and make it over the goal line smoothly. 

Posted on November 24, 2015 at 5:56 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , ,