4 Things Your Tulsa Realtor SHOULD BE Doing!
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There are so many rules in real estate. It can be near impossible to know whether your Tulsa Realtor is doing what they should and not doing what they shouldn’t. Darryl Baskin of eXp Realty gives us 4 things that your Tulsa Realtor should be doing.
1. Give Feedback- Giving feedback is not a legal requirement but is certainly considered a professional courtesy. Think about it this way… you are selling your home. You have taken the time to prepare it accordingly. Agent Smith asks to show your home to his clients. You quickly get your house straightened, pick up kids toys, and rush the kids out the door during nap time. You stay gone for a while to allow time for the agent to show your home. Imagine if the agent didn’t give feedback. As a seller, you likely want to know what the buyers thought. Is it priced appropriately? Were there features that were undesirable? What did they like about my home? Everyone’s situation is different but feedback is a professional courtesy that helps the seller and their agent to know what current buyers are thinking. In addition, it is simply a great way for the Realtor to show they appreciate the seller their appreciation for opening their home.
2. Give Proper Disclosure- There are many situations where a Realtor should be disclosing certain information within a real estate transaction. Here are some basics to remember. Any time the Realtor has an interest in the transaction, is related to the buyer or seller, or is purchasing the property for themselves, they should be disclosing that they are a Realtor, not only up front, but also ensure it is stated in the contract.
3. Working “For’ Their Client- It is a definite no-no to sell out a client. If you have signed a contract to work with a Tulsa Realtor, they should be working to get you the best price that they can. If they are telling prospective buyers that “my clients are going through a divorce and will take any offer”, without your permission, they are not working to get you the highest price. Think again before working with this type of Realtor.
4. Show Pre-Qualified and Pre-Approved Buyers– It is not a requirement to show only those buyers that have been pre-qualified or pre-approved but it will definitely help prevent wasted time and wasted offers. The best situation is to have pre-approved buyers looking at your home. This means that the Tulsa mortgage company has sent the buyers information and paperwork to underwriting and has approved a loan before a buyer finds a house. There are many cases where a contract has fallen through because the mortgage was not approved. Keep this in mind as well, a pre-qualification can help, but it is only as good as the information provided by the buyer. The information provided in a pre-qualification has not been verified and could be incorrect. A pre-qualification is only good if the mortgage company will back up the pre-qualification provided.
For all your Tulsa area real estate questions and needs, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732, 918-740-0077 or www.darrylbaskin.com.
The Future of Real Estate- Is The Housing Market Is Cooling Off
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Court Appointed Special Advocates- 12:56
Is the Housing Market Cooling Off? with TTCU The Credit Union- 21:42
Preventable Insurance Claims with Tedford Insurance- 36:21
Discernment in Real Estate with Darryl Baskin- 51:18
Court Appointed Special Advocates are volunteers who speak for neglected and abused children in court. Kids are taken away and placed in state custody due to allegations of neglect or abuse. Judges have a tremendous amount of data to go through. They must speak with attorneys caseworkers, parents and so many more people. Volunteers are trained and become an official of the court. A judge can appoint a CASA volunteer to work with the children, parents, caseworkers, doctors, attorneys, foster parents and those involved in the case. They are able to give pertinent information to the judge so that the judge can make a decision in the best interest of the child. Find out more at www.tulsacasa.org.
Is The Housing Market Cooling Off- It looks like the national real estate market is cooling off. At TTCU The Credit Union our business has actually increased. Rates are good and the Tulsa market is doing well. We’ve had many people doing an 80/20 loan where you have an 80% first mortgage and a 20% second mortgage (2nd mortgage is a 15 year loan versus 30 year) which enables homeowners to: obtain 100% financing, avoids Private Mortgage Insurance and keeps the payments close to what a regular mortgage would be. Many people don’t use this 80/20 product because they don’t often know about it. The benefit of this product is that, even though your payment is similar to a regular loan (where you are paying Mortgage Insurance and have a high funding fee), you are able to pay off your mortgage faster because all your payment is going toward your loan versus private mortgage insurance and fees. Make sure the mortgage company works with you, has access to all products, and will help you find what is best for you. For Tulsa area mortgage needs, contact TTCU The Credit Union at 918-749-8828 or www.ttcu.com
Top 3 Preventable Homeowners Insurance Claims– These are claims that you can prevent with a little maintenance and common sense. If you have a rash of claims against your homeowners insurance you could end of being cancelled. Insurance Companies look at what these claims could say about the future and the likelihood of future claims.
1. Water Leaks- These are often from the roof, appliances, or bathroom fixtures. Water leaks not only need to be repaired but can end up causing mold. These can cause expensive claims. If the claim is small, it might be best to pay for it yourself because insurance companies don’t like water claims. Too many claims, especially water claims, can create other problems and possibly cancellation or increase cost of your policy.
2. Fires- Mostly these are caused by a dirty chimney, frayed or damaged electrical cords that cause fires, unattended stoves or candles. Use common sense to help prevent fires.
3. Theft- Often caused by theft of a garage door opener. They can get into your home with your own opener.
**A Clue Report is a national clearinghouse of claims. Any insurance company can pull this report on your property to check for fraud or for the number of claims on your property.
For all your Tulsa area insurance needs, contact Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.
The Importance of Discernment in Real Estate– I often have people call my office and say they found a house and want to purchase it. As Real Estate Agents we have to follow certain rules. In the above situation, if an agent showed the house to the home buyers, that agent may have a right to the commission on that sale. Even if you don’t like the agent, it may be too late. The time to find an agent is early in your real estate shopping or before you shop at all. Find someone you trust, will be honest with you, relates at your level, and has the experience to give you the right advice. When you trust an agent, you will feel more confident in your decisions. What should you make your primary concern? It isn’t seeing open houses. That can be fun but make sure you find the right Realtor. Someone is going to get the commission. Who do you want to get that commission? Someone who causes drama in the transaction or someone who is working for you, makes you feel comfortable and gets the job done? Use your discernment when selecting your agent. What do others say about them? Did things go smoothly? If things didn’t go smoothly, was it your agents fault? Did they help you through the difficulties? It isn’t always about the number of ads run or that they will list your home at the highest price. The price of the home needs to be at the right place or your home won’t sell. Hiring a Realtor to sell your home is important because you aren’t hiring them for the sign or the ad. You are hiring them to get you to the closing table. For all your Tulsa real estate questions contact Darryl Baskin at 918-732-9732 or www.darrylbaskin.com.
Tulsa Real Estate For Sale
Home Guide Tulsa– One Address Thousands of Homes
Baskin Commercial- Commercial Real Estate
2441 East 31 Street-$649,000- over 5000 square feet, pool house, basement,
The Legends at 108th and Mingo- $569,000
4304 East 185th- $375,000, acreage, pond
8409 South Elder Ave- $169,900, Broken Arrow schools
Destiny Lane- 5 Acre Land/Lots in Skiatook- $55,000 and $75,000
Tulsa real estate broker, Darryl Baskin demonstrates to the use of a real estate drone for a Tulsa house for sale. Home sellers interested in how to sell a home in Tulsa, OK often find their home in a mass of other Tulsa real estate listings but they don’t know how to make it stand out among other Tulsa houses for sale.
Baskin has been a Tulsa real estate listings leader since he started selling in the Tulsa real estate market in 1990. Since then, Baskin has been the recognized leader in inventory of houses for sale in Tulsa, OK and specialized marketing tools for Tulsa real estate listings.
For more information about Tulsa, OK and Tulsa real estate listings, see our full Tulsa MLS search here.
Does Your Tulsa Insurance Agent Know Anything?
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Does your Tulsa Insurance Agent know anything about insurance? Well it would seem obvious that they do, because they passed their insurance licensing exam, right? Not necessarily. An insurance exam is like many other exams that people take during their lifetime. Most anyone can memorize the laws and rules and eventually pass the licensing exam. But, does your Tulsa insurance agent really understand insurance, how to build a relationship with you, or how to help you with your insurance needs?
We don’t have enough minutes in the day to be an expert at everything. That’s why many of us hire our Tulsa Insurance Agent or other professionals to help us in areas where we aren’t the expert. The right professional, whether it is an insurance agent or a real estate agent, will not only be able to pass their exam, but will also have the experience and knowledge to help you get what you want. In the case of homeowners insurance, you likely want peace of mind that, in the case of disaster, you have coverage to get your home or belongings replaced. Your insurance agent should be able to talk with you, get to know you, and ask you the right questions in order to get you the coverage that will bring that peace of mind. Your insurance agent should also want you to have knowledge about your policy. It can be nearly impossible to help a client get the right coverage when they don’t know what is in their policy. As a client, ask questions about your policy and read it. All these things should help you be comfortable with the amount of risk you are taking and with the amount of coverage you have in your policy. For all your Oklahoma Insurance needs, contact Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.
The Future of Real Estate- Customer Service
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
Tulsa Mortgage Customer Service- 29:29
Tulsa Insurance and Leases- 40:10
Tulsa Mortgage Customer Service can leave you with a very bad experience. One way that mortgage companies can provide good customer service is by helping you get pre=approved versus simply pre-qualified. When getting pre-approved, get actual underwriter approval! Without underwriter approval, your paper is basically just a pre-qualified. Pre-qualification is just a conversation. It is only as good as the information that is given. A pre-approval means that the underwriter has personally checked documents to verify all the information that you have given them. Make sure the mortgage company will back you up. Take the extra few days to get pre-approved and make sure you can get your dream home. A pre-approval can also be helpful when writing an offer. Pre-approval gives sellers more confidence that they will actually be able to close and not lose a sale after turning down other offers. Also make sure that you are using a mortgage company that has ethics and isn’t just trying to make some extra money. Make sure they are thinking about your best interests and will be for you later. To get pre-approved for your Tulsa mortgage contact TTCU The Credit Union at 918-749-8828 or www.ttcu.com.
** Remember when you are comparing mortgage rates to compare APR- which will take into consideration all the fees and costs into your mortgage rate. This will get you a more accurate picture and can also tell you that if one is really high, their fees are likely much higher than the other companies.
Tulsa Insurance for Leases– When someone is leasing space in a commercial building, sometimes the landlord is saying that they need insurance on that space. Remember that there is always risk involved in life. Depending on what has happened but also what you have and are doing, there may be a significant impact on your insurance. Landlords don’t want to be dragged into a lawsuit because of something you have done. Insurance rates will vary depending on what you are doing and the risk level. Obviously a business that handles explosives or firearms will have a different classification than a real estate office. Also remember that the landlords insurance may not cover damage that has occurred with your space and your things. It is imperative that you check into your own insurance as well. For an insurance quote, contact Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com.
Tulsa Real Estate For Sale
Home Guide Tulsa- One Address Thousands of Homes
6821 East 112 Street- $450,000, Bixby Schools, Gated Community
1401 North 19th Street- $179,900, One level, split bedroom plan, large living spaces
32271 East 721 Terrace- $146,500, workshop, 2 car garage, one level ranch,
1819 North Indianapolis Avenue- $49,900
Tulsa Mortgage Rates Tutorial
Image courtesy of Stuart Miles at FreeDigitalPhotos.net
Okay. The stock market and interest rates can get a little complicated. There are many things that cause increases and decreases and they are quite interconnected. For some basics, lets start with a basic tutorial. Mortgage rates are determined by different economic factors including the stock market, unemployment and much more. The interest rate that investors look at is the discount rate. This is what banks are charged when they borrow money from the Federal Reserve Bank. When the Feds want to control inflation, they can increase the discount rate and try to decrease the supply of money in turn making it more expensive. This causes banks to increase what they charge their customers. When customers have to spend more on these loans, they have less to spend on other things. That causes businesses to be affected. Now let’s look at things in a little different example.
Often the mortgage rates and the market goes a little crazy. Recently the stock market dropped about 300 points. Typically when this happens in the stock market people invest in bonds because they are looking for a safe place to invest their money. Unfortunately people haven’t been investing in the bond market as much due to over-inflation. This is causing bond rates to drop. This in turn means a likely decrease in mortgage rates. Everything is basically a cycle though so at some point, rates will increase. If you are considering purchasing a home, refinancing, or remodeling your home consider purchasing now. Do your research and know what you want for your future. Lower rates can mean a great time to invest in your family’s future. To find out if there are products or loans that might benefit you, contact us at TTCU The Credit Union at ttcu.com or 918-749-8828.