How to Save 1% and Lose 3% When Selling Your Home

Darryl talks about why it’s important to have a Realtor® at your side as well as the importance of interviewing.

When hiring a real estate agent, many people only consider what their commission rate is. However, when interviewing agents, there’s more you need to consider. You should be sure to choose a Realtor® that has the right fit of expertise, works in the right neighborhood, understands how to interpret the market, is available to help you, and has a system in the background that takes the chaos out of home sales. While paying a higher commission doesn’t always make a difference, paying less can often hurt your situation.

Let’s compare a real estate agents commission to something else. I have a personal experience when I hired an accountant that charged less than others. I thought I was saving money by doing so, but for 3 years, I was paying a large part of my profit back in taxes. Finally, I listened to my friend, and spoke with their accountant. He charged 3x as much as mine. I wasn’t sure I’d be able to afford him and the enormous amount of taxes I was paying at the end of the year. But, this gentleman knew how to do taxes, properly allocate funds, and he was a financial planner. I ended up hiring him, and I received 6x what I’d been paying in. This is why it’s important to analyze the level of skill a professional has when looking at their fees.

Why is it important to have a Realtor® by your side? They serve as a communicator between the home buyer and seller. This is good to have due to the emotional ties we have toward our homes. They help with issues that occur, such as the appraisal comes in lower or a maintenance issue. They can tell you out of X amount of sales, X% accepted an issue that came up during the home inspection. Of course, they get you to the ultimate goal – the closing table. As well as getting everyone to agree to the terms and have the terms be adequate to seal the deal. When hiring be sure to hire someone with the right experience and knowledge as well as someone you trust.

How is your listing price determined? This price is determined by more than looking at what your neighbors home sold for, or what someone said your home is worth. It’s determined by what the buyer thinks, which is more than a standard Comparative Market Analysis (CMA) does. It’s also the job of the Realtor® to educate both the buyer and the seller of the facts and data that determine this amount. This takes the emotional aspect out of the equation to allow each party to make a better decision.

What is the difference between making your house perfect vs. cutting corners? When preparing your home for the market, you may be unsure of how much money you should spend when making repairs. Covering things up instead of fixing, is cutting corners, which I’m not an advocate of. However, there are some individuals that feel if they don’t fix an issue perfectly, they aren’t being fair or honest with the home buyer. But, today’s buyers are looking for homes that are a deal, one with no structural damage. They would prefer an issue being fixed enough for them to be worry free for the next 5-10 years. Otherwise, if you spend an enormous amount of money, the home would be priced out of their market, and not affordable for most. An agent will help you understand the best option for any home maintenance issues that need to be fixed.

Go to 20questionsforhomesellers.com to download a free home seller report with no obligation. You can also schedule a call with me at askinforbaskin.com.

Featured Properties:

1181 E. 131st, Jenks, OK – 10 acres with an option of 58; over 16,000 Sq.Ft.; This is a beautiful custom design and build home. It completely surrounds a private courtyard and pool. There’s an expansion property and lookout tower. This can be a legacy home, or converted into a business. It’d be perfect to hold wedding receptions.

752 Knobb Hill Dr, Cleveland, OK – Sand Springs – $170,000, Split-level, 4 bedrooms, 3 full baths, 3 acres with a lakeside view, easy access to 412, flexible floorplan, grand entry suite.

4706 S. 178th E. Ave, Broken Arrow, OK – $259,000, 3,000 Sq. Ft. 2-story home with 4 bedrooms, and optional 5th bedroom or game room upstairs. Has 2 dining rooms, breakfast bar, 3 living areas and a 3-car garage. Located in Stonegate neighborhood. You won’t find many homes with these features for this price.

940 E. College St, Broken Arrow, OK – Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2-level unit in Broken Arrow. Live a more care-free lifestyle close to downtown. The best of urban village living within a home-town atmosphere.

For a complete list of active listings, visit homeguidetulsa.com

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

What is the Difference Between an Associate, Agent, Broker and Broker Associate?

Darryl talks about the different titles real estate agents are called and what they mean.

Real estate agents have different titles they can be called. You’ve probably heard of the terms agent, associate, broker and broker associate. This can be confusing to the public, so let’s discuss what they mean.

Long ago, we were all called agents, but there were certain duties you’d have to perform which created a mess. The law now states that we are sales associates, and this cleared up some of the duties that are required for a broker and the broker’s agents. While, you can still call your associate a real estate agent, our legal title is sales associate. This new title protects home sellers and buyers, by preventing an agent from performing certain duties that could potentially cause a problem. But, you’ll hear most people refer to us as a real estate agent, associate, broker or broker associate. And these names at times can be used interchangeably.

The difference between a real estate broker and an agent or associate, is the broker has a higher level of experience. They’ve also undergone additional testing. These individuals receive a new license to show that they are a real estate broker. They can have their own company with associates working for them.

Brokers report to the real estate commission. When managing sales associates, they are required to make sure everyone is following the rules and regulations of the real estate commission. This is why, if you’ve encountered an issue, your real estate agent may need to check with their broker. This ensures all laws are being followed.

Sometimes, you can have a broker act as an associate, hence the term broker associate. While they have all the experience, skills and the license required to be a broker, they’ve decided to step outside of the management role, and act solely as a sales associate. And, this is what I’ve done. I am a real estate broker, but I’ve decided to focus on helping home buyers and sellers, instead of managing associates.

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

 

Should You Consider Purchasing a Home in Surrounding Tulsa Cities?

Darryl talks with eXp Realtor® Jackie Stokes about Dewey and Bartlesville – two cities outside of Tulsa.

When house hunting, it’s important to think about your commute to work. Unless you work from home, or work only 2-3 days a week, it’s a pretty important factor to consider. However, it’s not only important to look at the mileage, but also the time it takes to travel. There are some areas in Tulsa where it takes a good amount of time to drive a few miles. It may take you the same amount of time traveling from Bartlesville to Tulsa as it does from a house that’s within Tulsa boundaries.

Bartlesville and Dewey are two cities outside of Tulsa that could prove to be a viable option for you. Bartlesville is about 15 miles North of Tulsa and 30 miles South of the Kansas line. If you’re working on the North side of Tulsa, your commute would be about 45 minutes. This isn’t too long of a commute, and Highway 75 is less congested.

What do these towns have to offer? Bartlesville and Dewey have more house to offer for the same amount of money that you’re looking to spend in Tulsa. There are beautiful homes available right on the lake. You’ll notice gas and groceries are cheaper. There’s also less crime, pollution, and traffic. The roads are always cleared during winter, so you don’t have to worry about not being able to get to work.

These are small towns that operate at a slower pace, which means shorter wait times at the movies, and restaurants. You’ll get to know the people in the community, allowing you to feel a greater connection. Running into people you know makes for a fun, social environment. There’s also a 12-mile trail that winds through the city of Bartlesville for you to enjoy.

Jackie Stokes is a real estate agent that’s grown up in Dewey and has commuted to work in North Tulsa. Over the years the cities have seen growth, and there are a lot of new businesses in the area. If you’d like to discuss more about the real estate market in Bartlesville and Dewey, you can call/text Jackie Stokes at 918-337-9293, or email her at stokesjrealty@gmail.com.

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

Optimist International Works to Bring Out the Best in Our Youth, Communities and Ourselves


Ron Whitaker speaks about Optimist International Club – how they help our local community, and how you can help too.

Local events bring people within a community together, whether it’s an activity, or a cause. It’s beneficial both for the community and its members. Connecting people through events allows people to have a sense of belonging, form meaningful relationships and feel inspired to help others in their community. In addition to these benefits, it also helps support local businesses and the local economy.

Optimist International helps communities by creating local activities for our youth. This provides children with positive community experiences, allowing them to develop to their full potential. Volunteers feel more connected with people within their community. They find that they enjoy speaking with local kids, and learning more about what good things they are doing in their lives.

They’re celebrating their 100th year anniversary this year. Optimist International’s vision statement is, “Optimist International will be recognized worldwide as the premier volunteer organization that values all children and helps them develop to their full potential.”

Optimist International of Tulsa, OK unites youth by hosting local community activities such as junior golf and fishing derbies. Other events Optimist International hosts are scholarship activities and Junior Optimist International. They work to teach youth to be kind to others, make others happy, have a cheerful outlook and look at the positive side of things. Sometimes, it’s hard to do these things when life is challenging. That’s why it’s important to have constant reminders to keep a cheerful outlook. Asking yourself, how are you going to positively impact someone this week is a good reminder.

What can you do to help? Optimist International could use help with events, raising money or joining our meetings. While many individuals worry that they’ll sign up for something that they aren’t able to commit to, there are many volunteer opportunities big and small. Many individuals running events need help with simple tasks, such as making sure an event has plates. And, you’re not required to attend meetings nor is this an organization that will be a financial burden to you.

If you’d like to see what Optimist International is all about, join us for our local fishing derby on June 2nd in Mohawk Park. There are also activities being held at Fortune Park and in the surrounding towns – Jenks and Broken arrow. If you’d like more information about the events or volunteering, you can call/text Ron Whitaker at 918-249-8353.

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

Understanding the Risks Tulsa, OK Homebuyers Have to Deal With

Darryl & Stan review a listener question about paying for an inspection as a buyer, and the possible risks involved.

As a Tulsa, OK homebuyer, part of your responsibility is to pay for a home inspection before you can close on the property. An inspection acts like a piece of extra insurance and can be used within the negotiation process of buying your home. If something remiss, such as leaking pipes, comes to light from an inspection, you, the buyer, can renegotiate the sale price or come to an agreement with the seller as to who will pay for the repairs.

In getting specialized reviews of a home done, such as an inspection or appraisal, there is a risk that something will be revealed which could lead to the deal falling apart. For example, if an inspection reveals repairs that need to be done, a new inspection may be needed to confirm the work has been done properly.

Another example is the potential of a seller to reject an appraisal from the buyer’s lender. If the appraisal comes in lower than expected, they may not want to sell to you after all. They could decide to hold out for a buyer with a lender willing to cover the loan for the listing price they have decided on.

Whatever the reason, if an inspection or appraisal doesn’t go as hoped for, having an experienced Realtor® on your side is a valuable resource for any homebuyer, or seller. As a realtor who understands the local market, I use my experience to help my clients know what to expect, to understand the possible risks, and to also help negotiate with the other parties involved. The goal is finding solutions everyone can agree with.

With an experienced Realtor® who has their clients’ best interests in mind, homebuyers can face the risks of the unknown becoming apparent with confidence. My goal is to not only help you but to also educate and give you the resources you need to make the best-informed decisions for you own needs. Before you hire an agent, give this idea some thought, then check out the 20 Questions I have compiled which can help you start the conversation with potential agents.

This in-depth guide is a valuable resource to assist you through the process of finding the right agent. Download my FREE homeseller and homebuyer report,20 Questions You Absolutely Must Ask Your Next Agent Before You Sign on the Dotted Line for a complete list of questions to include in an agent interview when hiring a Realtor®.

 

Featured Properties:

NEW! 314 E 112th St. Jenks, OK  $280,000, 2,751 Sq. Ft. 4 bedrooms, 3-car garage, within Jinks school district. A hard-to-find home for the price and size together!

4706 S. 178th E. Ave. Broken Arrow. $259,000, 3,000 Sq. Ft. 2-story home with 4 bedrooms, 3 of which are on the lower level. Located in Stonegate neighborhood.

940 E. College St.  Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2-level unit in Broken Arrow. Live a more care-free lifestyle close to downtown. The best of urban village living within a home-town atmosphere.

For a complete list of active listings, visit homeguidetulsa.com

 

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

Funding Options for Limited Credit Tulsa, OK Homebuyers

Darryl and Dan Newberry of TTCU discuss what Limited Credit means and how you may still be able to buy a home with it.

We all know credit plays a large role in determining how much and what kind of home loan you can qualify for. But what do you do if you have little to no credit? People with what the industry terms Limited Credit can still buy a home in the Tulsa, OK area, it just takes a bit of creativity and the right lending partner.

Limited credit refers to people who, for whatever reason, just don’t have much credit history. Often this applies to high school graduates and college students, but it can also apply to the financially prudent person who pays cash for everything. While this can save you money, (no interest fees to pay), it can make it harder to get a mortgage.

When lenders look at an applicant’s financial records, they need something to show payment history which reflects on how responsible a person is regarding their finances. Credit scores are a key way this history is provided for many lenders. Without credit cards, car loans or previous mortgages you may not have enough of a history for a lender to feel comfortable taking on the risk of lending you money.

Companies such as TTCU can work with Limited Credit homebuyers. There can be other solutions which can help you get the loan you need for a home. Examples include using an alternative line of credit, such as rental history and utility bills, to show how well you pay your bills.

If you have limited credit and want to buy a home in Green Country, visit www.ttcu.com to learn about the different options available for home mortgage loans. For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

The 4 Things Green Country Homebuyers Need to Know About Electric Systems

Darryl & Steve from Murray Electric talk about the 4 most important facts to know about the electric system when buying a home.

If it’s time to buy a home you have plenty of things to think about, plan for and learn. My goal as a Realtor® is to provide helpful advice to homebuyers and sellers alike, so they can make the best decisions for their needs and be happy with the results. One way for homebuyers to close on a property with confidence is to understand key components about a home they are buying.

Steve with Murray Electric has taken a look at my personal list of the top 4 things every homebuyer around the Tulsa, OK and Green Country region should know about in any home they purchase. The verdict is in, Steve seconds the motion of this list, and so without any further delay, here are the 4 things every home buyer should know about the electric system in their house:

  1. What is the Voltage Level of outlets? 220 volts has been standard for quite a while now and is just what’s needed to run most any appliance or electronic device. Homes built before 1950 may have a different voltage of 120, which used to be the standard. If you’re buying an older home, be sure to know the voltage so you can plan accordingly. An update may be needed, or you may need to use gas or propane-operated appliances instead of electric ones.
  2. Is there a Fusebox in the house? It used to be every house had a fuse box, in which as a homeowner you could replace a blown fuse, or ‘Jimmy-rig’ a fuse with a temporary fix (such as inserting a copper penny at the fuse point), until you got the replacement fuse. Fuse boxes and the ease with which they can be ‘McGivered’ has actually created a higher-risk situation in many older homes, to the point that some insurance companies won’t cover a property with a fuse box. A Circuit breaker board is the safer and current code-required way to go.
  3. Where’s the Main Panel? The panel is where your home’s electrical system is controlled and where your circuit breakers are located. Each circuit can handle a certain amount of power running through it. If you have many electrical devices or make some major home improvements in the future, you may need to add to the size of your panel. Knowing where it is will help you access it when a breaker trips, and you’re left in the dark. It’s also important to know if the Main Panel is in a closet or not. Small enclosed spaces for an electrical panel are a higher risk for fire damage. If your main panel is in a closet, speak to the folks at Murray Electric in Tulsa to help ensure it’s in a safe place.
  4. Are the Outlets Grounded? This is critically important with our digital lifestyles. If you don’t have grounded outlets, you’ll want to invest in power-surge protectors. Not only will this lessen the risk of damage to your devices should there be a power surge, but some electrical components won’t work unless through a grounded outlet, such as a coax cable for your TV. One easy way to find out if your outlets are grounded is to get a simple tester at your local home improvement store. For just a few dollars, a tester plugs in and gives you the green light or red to know for sure.

The next time you have an electrical issue come up at home, save yourself a lot of stress and time, by having a conversation with Steve at Murray Electric yourself. This is one local service where there is a live person on the other end of the phone. With two locations in Tulsa (918-835-9605) and Broken Arrow (918-254-9771), help is just a phone call away. Find more information at their website: www.murrayelectric.com.

Junior Achievement Bridges the Gap for Tulsa, OK Students

Darryl speaks about one of his favorite places to volunteer–Junior Achievement, and how much they help the community and our future.

Communities thrive when businesses, individuals and organizations work together to support the various needs of the populace. One group, our children, need a range of different tools and resources throughout their school years to help them grow into confident, educated young adults, ready to create a life they want. When our kids understand how to take care of the daily business of life, and how they can achieve their own goals towards success, their futures are bright. Having a younger generation prepared for the real world with positive, successful tools-at-hand enhances the future of our community as well.

This is the overriding goal of Junior Achievement, OK. This organization is wholly dedicated to teaching children, from Kindergarten through high school, real-life skills which everyone needs to succeed in creating a happy and fulfilling life. Many kids in today’s world lack the one-on-one support of a personal role model to teach them how to manage their finances, or why certain decisions we make when young can significantly impact our lives when we are older. JAOK is a nurturing hub which provides these all-too-important role models and experiences to learn from.

So where do all these role models with JAOK come from? From the community, of course. This is one of my favorite places to volunteer; working with kids in the classroom is truly a rewarding experience. This month I get to head into the classroom again with a peer or two from eXp Realty. Most of JAOK’s volunteers come from the business community. When employers support their employees in volunteerism, a positive work culture is the result. When people with experience in a field volunteer with JAOK, the rewards are two-fold; the kids learn things they may not otherwise be taught, and the volunteers experience the gratification which comes from doing something good to help others.

JAOK is the organization which bridges the gap between our children and the business community, providing valuable opportunities to help kids face their future with confidence; and that’s a bright future for all of us. If you have been considering being a part of this great organization, now is a great time to get started. Contact Erika Irvine at JAOK to find out how you can help by emailing her at eirvine@jaok.org, or calling her at 918-660-2158. Find more information at their website as well jaok.org. For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

314 E 112th Street, Jenks, OK

314 E 112th Street, Jenks, OK

Take an eXp 3-D Virtual Tour!

 

This home has a prime location, it’s on a quiet cul-de-sac in Jenks, OK. It features an open great room, island kitchen, flex room office, and whirlpool tub. Three bedrooms are on the first floor and a complete bedroom suite with game room is upstairs. There is a front porch, large covered back porch and the home is constructed of full brick for low maintenance.

 

Contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

Improve Your Tulsa, OK Home with the Right Funding Solution

Darryl and Dan Newberry of TTCU discuss funding options for homeowners to get home improvement project done.

One big advantage to owning a home in the Tulsa area is the ability to do what you want, to update and improve your property so you can enjoy it all the more. But then there comes the question, how do you pay for all that you want to do? One way to do this is to seek out additional funding through a loan. This is not for everyone, but as a Tulsa, OK homeowner, you have an incredible institution on your side which may be able to help.

I’m talking about TTCU, our local, community supportive credit union. As Dan Newberry pointed out on our latest episode of The Future of Real Estate is Now, having different funding options can help you meet your current housing needs. With TTCU not only can you get a home equity line of credit, but qualified members can also get up to $40,000 in a Home Improvement loan to then put towards whatever projects you want to work on.

A growing trend across communities from Tulsa to Jenks, Bixby and Broken Arrow, many homeowners are looking to add Mother-in-law units or suites to their homes. This is being done more often as more families are aiming to keep their elders home and to establish a multi-generational lifestyle, allowing for families to save some money and continue building long-lasting relationships and memories as grandparents get older.

Such a suite can also add great value to your home when the time does come to sell. Instead of being worried about how you are going to fund such a project, look to the support of the folks at TTCU; they can help you find a solution. Visit www.ttcu.com  and learn more about what options are available for home improvement funding. For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com

 

Featured Properties:

1554 S. Yorktown Pl. NEW LISTING! – $619,000, 5,700 Sq. Ft. Historic Home with many original architectural features throughout. 1930s Tudor Style.

1181 E. 131st Street – New Listing! – 16,000 Sq.Ft.; close to 55 acres, Courtyard, Pool, 4-car garage, $2,400,000. Check the eXp 3-d online tour of this incredible listing. Jinx/Bixby area. Flexible floor plan, 2 laundry rooms, 2 master bedrooms, library/game room/office-Full suite option on upper level.

752 Knobb Hill Dr,-Sand Springs-New Listing! $170,000, Split-level, 4 bedrooms, 3 full baths, 3 acres with a lakeside view, wrap-around back porch, storm cellar, mother-in-law apartment.