Explaining real estate commissions

Real estate commissions were in the news recently due to a court ruling that resulted in a $1.8 billion verdict in favor of home sellers who accused the National Association of Realtors and two national brokerages, Homeservices of America and Keller Williams Realty, of conspiring to keep commissions artificially high. This ruling has naturally sparked a lot of conversation about commission structure and we thought it timely to bring the topic up as well.

The three contingencies in a contract to purchase real estate (and why they matter)

There are three important contingencies baked into the contract that all Capital Region real estate professionals use and it’s important for both buyers and sellers to fully understand them.

Assessed value VS appraised value VS CMS VS AVM - understanding valuation metrics

What’s the difference between assessed value, appraised value, comparative market analysis and automated valuation models?

What is your home worth? That depends on who is valuing it and for what purpose. Although people sometimes use these different valuation terms interchangeably, they all serve different functions and it’s important to understand what they each mean.

The final walk through

The final walk through is an important part of the home buying process. It typically occurs the evening before or the morning of the closing and it's the buyers' chance to ensure the house they are about to purchase is as expected. It's possible they haven't been in the home for several weeks, likely not since the home inspection, and the house might have been furnished and lived in when they were last there. Most of the time, walk throughs are uneventful and the house is in good shape. Sometimes that's not the case. If issues arise, the buyers can request that the owners fix the issue or request a credit to fix it themselves. On the rare occasion, issues flagged at the final walk through will cause delays with the closing. We always accompany our buyer clients at the final walk through and provide them the checklist below so they know what to look for.

Preparing for a photo shoot

Want to know the secret to great real estate photography? Preparation! With a bit of work prior to our arrival, you can help us ensure your home truly shines in the listing pictures. We have created a list of tasks to complete before we take the photos. Not able to get it all done, no worries we will help!

Working with out of town buyers

Can you imagine buying a home when you don’t live nearby? We have worked with many buyers relocating to the Capital Region and it can be hard to buy a home when you are living somewhere else. We recommend buyers rent first to give themselves time to find the right home in the right location, but it isn’t always possible. That’s why we have a plan for ensuring out-of-town buyers find a great home.

Lifestyle Checklist

Here at McSharry and Associates, we know that a lot goes into finding the right home and we want you to end up in a home you love that is ideally suited for your current lifestyle. 

Pricing a home in today’s market

The spring 2023 Capital Region housing market has been hot! Homes are hitting the market, attracting lots of attention, and going under contract quickly. It must be easy to price a home now, right? Actually, it is harder than ever and requires intimate knowledge of who is looking to buy a home right now as well as understanding what they value.

Negotiating structural issues

Congratulations! You found a home you love AND your offer was accepted! It feels really great to be under contract, particularly these days when many buyers have been searching for a long time. However, there are  a few steps to navigate between contract and closing, including the structural inspection. Sometimes an inspection goes smoothly and the time is spent learning all about the inner workings of your new home. Other times the inspector uncovers issues that need attention.

Escalation clauses explained

Definition: 

A clause in a purchase offer that enables buyers to make a strong offer while reducing the risk of paying significantly more than the next highest offer. Rather than coming up with a flat number when asked for “highest and best”, the buyer starts with an initial number and offers to beat a competing offer by X up to a cap of Y.