5 Signs You NEED a Real Estate Agent

Selling a Malaysian house.

Selling a Malaysian house.

Some people are made for FSBO (For Sale By Owner) sales. They can sell their house or KLCC condos as easily as if they’ve spent hours and hours at the Malaysian real estate school. They are so good at selling their own house that they might as well consider a career out of it. Some people, however, just don’t have the knack for it. They either don’t have enough patience to wait and wait endlessly for a call after posting their ad on the listings, or they don’t have enough social skills to handle all the client meets, open houses and home showing. That, or they simply don’t have the time.

You may want to see this interesting article.

See, tons of things about Malaysian real estate can be learned, even within a very limited time. You can learn how to post a listing, you can learn how to take a photo of your house to make it look bigger, you can even learn how to work on the escrows and contracts and offers. Sure you might learn through mostly copying what real estate agents do but you learn nonetheless. But there are things that you cannot learn and you cannot fake – for example time.

Signs You NEED One

Do you need a Malaysian real estate agent?

Do you need a Malaysian real estate agent?

If you can’t decide whether you should go FSBO or not, here’s a little something for you. Here are 5 signs that you actually need a real estate agent to sell your home and that FSBO should not be for you:

  1. You don’t have the patience to wait for late clients or clients who come in a rowdy bunch. As your very own real estate agent, you are forced to consider every single thing potential clients say and do and do it with a smile plastered on your face. They could give you a very late notice, cancel on the last minute, or step on your beloved carpet with dirty shoes and you have to put up with that simply because they could be ‘the one’. If you can’t handle that, you might need to call your local broker.
  2. You are too emotionally attached to your house that you cannot take a single bad comment about it. This is the time when you should be most objective about your house; to see it as someone else’s property and not what once was your family home. See, buyers will always be nosy and critical about the house; after all, they’re only looking after the best deal out there for them so they’re only trying to make the most of their money’s worth. If you can’t detach yourself with the house and cannot put up with every negative remark, you need an agent.
  3. If you don’t like meeting one stranger after another. Some people are just very conservative about the circle of people they mingle with and are not very good at socializing. If you are this type of person, and meeting a new person is not something you fancy but instead dread, selling your own house might not be a good idea.
  4. If you have a tendency to beg. Begging and pleading and giving in to every demand of your potential buyer may not only be harmful for your social image but also cause irreparable damage to your home sale. Buyers are only looking for the best deal and if you present yourself as someone who yields easily, who’s so desperate to make a home sale, and agrees to the first sign of bargaining his buyer presents, you had better spend some cash on your agent lest you risk selling your home for less than its value.
  5. If you don’t have the time for it. If you’re a mom of three running a household while having a weekend business, while volunteering at the your Sunday School and being an on-call fire responder, this type of thing might not be good for you. Selling your home requires you to have undivided attention, on-call availability and tons and tons of time to do all your homework especially when the paperwork is involved.

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5 Ways to Ruin Your Listing

In a real estate sale, there are tons – and I mean tons ­– of things that are not in your control and could practically go wrong right before your very eyes – the market, the house, the location of your home, the projected appreciation/depreciation rates, the mortgage – and all you could do is watch and hope that it does not get to the worst, rock-bottom level. But among all these things that you have no control over, there is one thing about your real estate sale that allows you more control than anything else. But wait, Do you know the Common Lies Home Sellers are Told? You should avoid doing that!

That is why it would be such a shame if you ruin this one thing that you have almost full control over. And it would be an even bigger shame if your home sale should be ruined just the same by the seemingly simple and insignificant mistakes.

Ways to Ruin Your Listing

SO how does one ruin a Clearwater Residences listing and possibly end up ruining a good home sale? By doing any of these:

  1. online-real-estate-development-indiaBad photos or no photos at all. In a listing, the potential buyer could only hold on to something for evidence that the house is worth a trip: photos and descriptions. But because the photos are the first thing they see, providing bad quality photos or not providing your listing agent with any photos at all is a huge, huge mistake. Trust me, 9 out of 10 potential buyers would simply scroll through your listing and on to the next one because you don’t have photos. They wouldn’t care about clicking on to your listing – they’d likely miss out the payment options you’re offering, or that the house is marked down because it’s on short sale; they’d just mindlessly move on to the next one because there was nothing enticing about your ad. Make sure the photos not only highlight the best parts of the house; provide photos of all the rooms in the house. Stage your house like you were already showing it, and make sure the photos are good and not blurry.
  2. Exaggerated descriptions. A good listing description is one that accurately talks about the good qualities of the house, using some literary functions to make it a little bit more attractive. But using superlatives on superlatives on superlatives to describe your home is outright no-no. It sounds amateur and unattractive because it’s clearly overdone. Keep things tastefully accurate.
  3. Inadequate information. The purpose of the listing is not merely to tell the rest of the real estate buying world that you’ve put your house on sale; it’s about selling your house to probably buyers, convincing them that you have something worth seeing. And not putting enough information on your listing is just bollocks. The most essential information to put on your listing should include the following: exact location, significant landmarks (schools, hospitals, highways, supermarkets), accurate square footage of the house (indoor and outdoor), and other details (basements, swimming pools, etc).
  4. Inadequate transaction details. A lot of buyers find this inadequacy a red flag, especially when the house is being sold on a short sale or other similar problems (i.e. foreclosure). You have to make sure that you include some of the more in-depth details of the sale. Is the house on foreclosure? Has the lender approved of the short sale? Are all the papers in?
  5. Lying about the condition of the house. While some buyers shy away from anything that sounds like a flipped house, they are more wary of homes that are sold on the listing in an ‘as is’ status. Should you include that in your listing, make sure that it states how well the condition of the house is and that it should somehow match its price.

5 Common Lies Home Sellers are Told

home-sellers-12-08-2011You don’t have to believe everything you are told. This is the most practical, most useful, and the wisest words anyone can be told of when using the internet. And this is also the best thing to tell anyone who’s trying to sell a house from Serin Residency in  Malaysia.

See, people think they know so much about home selling. After all, they have spent some time for at least once in their lives dealing with a home seller when they bought their house, or that they’ve actually sold their house, or they know someone who has sold a house or sells a house for a living. But these things just don’t qualify as ‘qualified information’ for you in any way. There even are things that even reputable, experienced expert real estate professionals can tell you things that are rather untrue and you shouldn’t believe in at all.

Common lies of home sellers

Is this the good time to buy a house? Here are five of the all too common lies that all would-be home sellers and all home sellers are told:

  1. You cannot sell without an agent. Yes, yes you can. This process is called the For Sale By Owner aka FSBO. But the real deal about FSBO selling is that, it ain’t easy. It was never easy, and it won’t ever be easy. It requires a dear, darling simple homeowner to actually find a way to sell his house as competitively as professional, experienced expert real estate agents. The whole process can be agonizing, demanding, confusing, frustrating, and it could cost you some cash if you are not careful. But yes, you can sell without an agent, just expect to do a lot of work.
  2. You can put a higher asking price on your house and just let your possible buyers negotiate until they reach your baseline price. This sounds like a totally clever way to market your house, but it might just fall as the complete opposite. Before you get people to negotiate on your house, you have to attract them. But an illogically high asking price in your listing would only ward them off and crash your house off the list even before they could think about negotiating. You should just make a point of keeping this ‘higher asking price cushion’ justifiable and that you indicate that the price is actually negotiable.
  3. Selling your Malaysian house ‘as is’ is better than spending on extra investments that might not get a return. Well, it might be a big risk to take, but selling your house ‘as is’ is just as bad as putting in investments that don’t make a return. The thing about making pre-sale investments is that it shouldn’t be too little as to not affect the asking price at all, but it shouldn’t be too outrageous as to seem out of place in your house or seem like a liability to the house than an asset.
  4. You have to give your agent 6% in commission. Well, this may be what they commonly get but there’s nothing written on stone about exactly how much commission your agent should get. But you can always try to negotiate, especially if you offer to do some of the work yourself.
  5. Open houses are a must. If you’re selling FSBO, it is okay. But it really doesn’t do much work, especially if there’s an agent in the picture – it will be so much more beneficial for the agent than to you as the homeowner. See, open houses invite random people who magically ended up on your street and your nosy neighbors. It’s just an unwarranted expense.

5 Signs that It’s a Good Time to Buy a House

CaptureHome buying is exciting. Home buying is wonderful. Home buying is life changing. But that is not all of it though. Home buying, despite all those beautiful prospects, buying a house or a Tijani 2 unit is also just as stressful.

See, there are several factors to consider before making that big decision. After all, home buying involves tons of money and many years of paying monthly mortgage fees before the house becomes officially and fully yours. The factors primarily include three things: (1) your need, (2) your capacity, and (3) the real estate market.

Best Time to Buy a House

Ideally, everything in these three factors should work towards your favor. The rest depends on how well you use each card for your own advantage. To help you decide whether or not it is the best time for you to buy a house, here are some indicators:

  1. You need a house fast. Whether you’re a long-term apartment renter, or been living in the same house for a given number of years, there comes a time when the need to move houses is inevitable. Are you facing foreclosure? Is renting proving to be eating up a huge chunk of your hard earned cash and thus you’d rather spend it on something you can own later? Do you need to relocate for work or school? Figure out just how much you need to move. Maybe this will help, 5 Signs You NEED a Real Estate Agent.
  2. You can pay for a house. Are you beginning to earn back your business’ profit? Or is it expanding? Did you get promoted for a job? One of the many factors that contribute to people deciding that it’s a good time to buy a house is when they finally get that stable source of income that could afford them the monthly mortgage fees. Not only is this all about qualifying for mortgage loan itself; it is also about knowing that you’ll earn enough to keep you out of foreclosure trouble in the foreseeable future.
  3. You have down payment money. Unless you’re one of those people who borrow money just to get down payment, getting enough to pay preliminarily for a house has also always been a driving force in home purchasing decisions. The most common reasons for obtaining money for this are inheritance, sale of some investment, and savings.
  4. The market is good. This is where the more technical stuff happens. Knowledge of how well the market is doing for you, the buyer, needs some time of research and watching the real estate market move, asking recent sellers/buyers, observing the houses on sale and maybe even consulting an actual real estate agent or broker.
  5. Your credit score is good. A mortgage loan is a massive loan that will tie you down for at least ten years. It could be as long as thirty years, or practically a third of your entire adult life. It is no small thing, really. That is why not everyone gets it that easily. So if you have a good credit score, and you have it going well on all the other aforementioned factors, it is high time you invest in a roof above your head.

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5 Things That Ruin Your Mortgage Loan Chances

OLYMPUS DIGITAL CAMERAIn this day and age, when the world is still recovering from the blunt of the great global economic crisis, everyone in the world of business and finance is just extra, extra cautious. That is why getting your mortgage application for a Vista Damai unit to be approved can be one tough challenge – especially for the first timers!

Because of this, it may be worth your while to take a little bit more time reviewing everything concerning your application. From checking and cleaning your credit history, to talking to as many lending institutions, as well as consulting an expert on what your options are when it comes to your mortgage and home purchase, every little extra step is always a step closer to sealing a great mortgage loan deal.  Remember, the goal is to become an ideal candidate for a mortgage loan and subsequently seal the deal on your dream home.

Things That Will Ruin Your Mortgage Loan Chances

Part of the preparation process is gaining enough knowledge on things that are good or bad for your mortgage application. To give you a headstart, here are 5 things that could absolutely ruin your mortgage loan chances:

1.  Bad credit history. It does not take a genius to know that mortgage lenders look into your credit records to check your credibility as a borrower. We’re talking big money here, and years and years of payment obligations. Your ‘credit portfolio’ will act as your resume, a peek into the kind of borrower you have been in previous years. If you have bad records, be sure to contact your creditor for means on how to clean your name up on this regard.

2. Current loans. If you have pending loans (car, credit card, etc), you may want to clear that up as well. Your current loans that would also reflect on your credit records would make your paying capacity decrease. With tons of other things having to share your (income) pie, mortgage lenders will think that you won’t be able to make regular payments as well as you would if you didn’t have those other loans. So better pay them off and rid yourself of other loans while you’re in the middle of applying for your mortgage.

3. Incomplete or dishonest papers. Whether it’s a statement of your income, your credit report, or whatever document your mortgage lender asks of you as a requirement for your application, make sure it is accurate and complete. Trust me, these people are not ones to fall for fallacy and inaccuracy. With a business as big and as costly as theirs, they know well enough to invest in a good security and backgrounds investigation agency. They can tell whether or not your documents are complete and accurate so you’re better off with just being compliant and honest.

4. Lawsuits. As I’ve said in the previous point, these people can track you down. So that little lawsuit your old landlord filed against you will not be missed by their scrutinizing eyes. Any lawsuit filed against you (and sometimes even the ones you’ve filed yourself) are always bad news. Lawsuits mean court records, lawyer’s fees, and the possibility of settlements that could hurt you financially. Even a pending divorce in court could be bad for you! And on that last bit, that will always mark down your credibility as far as paying capacity is concerned.

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What NOT to Expect from Buying a Short Sale

If you are in a real hurry to purchase your Malaysian home sweet home, and/or if you have quite a limited budget for your home purchase, you might actually want to consider getting a house on short sale. Short sales are homes that are up on the market to avoid foreclosure. While the mention of a ‘pending foreclosure’ seems a little too daunting, if the sale was done right, it is almost just as good as buying a non-short sale house or any Malaysia property.

A short sale is called as such mainly because it is supposed to be done pretty quickly. After all, the homeowner is in a race against time of the impending foreclosure. He should get rid of the house long before the foreclosure kicks into action, as well as give enough time for the new buyer to settle everything with the mortgage lenders.

NOT to Expect from Buying a Short Sale

But because a short sale is roughly the most ideal home selling-home purchasing set up, there might be some things that you can’t expect that you’d normally get in a regular home sale. Here are some of the things that you cannot expect from buying a short sale:


  • Homes in mint condition. If the house is on short sale, it is sold ‘as is’ (in the current condition that it is in). In most cases, homeowners of houses on short sale do not have the time or the money to afford a full-on renovation and repair. Neither could they have afforded a regular maintenance on the house on the months (maybe even years) leading up to the foreclosure. So whatever you might save on the total sale price of the house, you may have to spend on renovs.
  • Contingencies. It’s a short sale, it’s sold as is, so there is hardly any contingency in your favor and for the homeowner. Though rarely, the contingency would be set upon the mortgage lender since technically, the ownership is on them by now.
  • Negotiations. Or at least not very long ones. A short sale is almost always sold on a final price basis unless the house is extremely overpriced. The thing is, just as the home seller is as desperate to sell the house, he is also going after bridging that gap between his debts and the price of the house. He wants to clear his name of the house anyway so he’d naturally be gunning for a price close to its fair market value.

See 5 Signs You NEED a Real Estate Agent for more information.

  • Cheaper closing costs. Just because the house is sold at a much cheaper rate than its fair market value or that it’s practically cheaper than most others on the market, does not necessarily translate to the Malaysian house being cheaper on everything else. Apart from the fact that you may have to pay for costs on inspection and repair, the closing costs won’t be any cheaper. This can become even more expensive if the house is on a very messy mortgage status. The messier the paperwork is, the messier the costs on closing are.

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