Tips to Avoid Complicated Closings

Everyone knows that the sale of a house is no small thing; it takes not only a lot of time and energy but hard work on the part of both the buyer and the seller. No one wants to go through the entire pre-sale process only to have things fall apart at the last minute. So how can you ensure that everything will go smoothly when you come to the closing stage of a sale? We have a few tips to ensure your sale is hassle-free and happy!

Analyze Your Offers – Make a Contingencies Plan

You may be surprised to learn that when it comes to closing on the sale of your house the highest price may not always be the best price. If you are lucky, you will have several offers on the table and it can be very helpful to set out the guidelines for which you plan to evaluate each offer before they start coming in.

The points you should consider when analyzing offers:

-       Inspection contingencies, and why you want the fewest number possible as a seller

-       Mortgage contingencies and the impact the length of the contingency will have on your sale

-       Size of the down payment

-       Strength of the deposit

-       What the mortgage terms mean for your sale

As a seller, making use of this analysis can prove an invaluable process to ensure your sale closes quickly and efficiently. It may seem counterintuitive to look at the terms of the sale in this way given the fact that this is the opposite strategy you would employ when purchasing a house. The idea here is to ensure that the offers made on your property not only fetch the best price but also retain the shortest contingencies, and maximum flexibility in the buyer’s mortgage terms. All of your efforts in analyzing these offers are in an effort to lock buyers into a deal as soon as possible thus minimizing complications for your sale.

Secure Back-Up Offers

You probably know that a hefty percentage of real estate deals fall through even before the closing stages so it is especially prudent when closing on a sale to have a back up to “fall back” on.

When analyzing your offers (as above) be sure to not only consider the best offer, but also the second-best offer as a back-up.

Assign Property Delivery Requirements

How you deliver a property is important to buyers, but also to the real estate professionals you work with on the sale. As a seller, it is your responsibility to fulfil any delivery details that are set out in your contract, but also to leave the property in a good condition. This means:

-       Cleaning the property thoroughly after moving out

-       Touching up any damage caused in moving out of the property

-       Removing any garbage from the inside and outside of the property

-       Ensuring that the yard and outside areas are trimmed, swept and tidy

Although it may be easier to just leave the keys and wave goodbye to the property you just sold, the delivery of the property is your final responsibility as a seller – you should leave the property as you would want to find it yourself.

Catching buyers can be difficult, and getting to the closing stage of a sale might seem a long way off, but it doesn’t have to be a challenge. Follow our simple tips for avoiding complicated closings and reap the benefits of a smooth sale!

Mobile Technology in Real Estate

In a survey conducted at the beginning of this year, the National Association of Realtors asked real estate agents and professionals to list the tools that they felt were most valuable to their business.

The top three answers were:

1. Tablet computers
2. Mobile & desktop tools
3. Real estate CRM solutions

The rise in consumer usage of these technologies has made it all the more important for real estate professionals to understand the importance and value of using mobile technologies to boost their productivity. The rise of mobile technologies has also become a prominent factor in the way people look for and ultimately purchase real estate, making it incredibly important to maintaining a healthy profit during this difficult economy.

Tablets and Smartphones Take The Lead

The top item survey respondents said they would buy this year is the tablet pc – with the leading type being iPad, shortly followed by Xoom and Galaxy. Why do agents consider a tablet to be so important? They emphasized the value of tablets in keeping them organized, connected, and saving them time. Ultimately, tablets increase their productivity and in turn their profitability. Only second to the tablet is the smartphone, where agents are also using these mobile devices to conduct business and increase their professional success.

From the research done on tablet and smartphone brand preference, it has become clear that many, if not most, agents prefer Apple products. Studies have shown that the iPhone is the most common smartphone platform, followed by the Android. Additionally, other Apple products including laptop computers, iPads, and desktop computers are on the rise within the real estate industry.

Mobility is Key for Profitability

Due to the nature of the job, real estate professionals are on the road almost all of the time making mobility absolutely essential for profitability. Given the need to work away from their desks, with seamless connection, being productive while still on the road is extremely important for real estate professionals today. Further to that, the typical buyers and sellers expect more from their agents – they’re looking for someone who is available and highly responsive. They are looking for an agent who has all of the latest technologies, which increases their chances of getting a quick sale.

Real estate data consultants PCMS and One Cavo have given data evidence that up to 75% of the real estate leads generated online are lost due to lack of response or late response. Further proof that reliable, connected mobility is absolutely essential to remaining profitable in real estate.

The Importance of Mobile, Web-Based CRM

CRM, or customer relationship management is another key technology real estate professionals are using to achieve and maintain profitability. It is absolutely essential that agents are using an easy-to-use real-estate specific CRM that can be easily synced with any and all of their mobile devices. What is the point of having a CRM that cannot be accessed from the road, wherever the job takes you? The ability to access your CRM from your mobile, or anywhere with an Internet connection is the only solution that makes sense in this technology-driven, mobile age.

How Spectrum Make Use of Technology

We’ve already established the importance of mobile technology to the real estate profession, and it is with no doubt a very exciting time not just for real estate, but for every business. Here at Spectrum, we are utilizing the best of mobile technology to get results for our clients. The Spectrum Mobile app, powered by Smarter Agent lets you find Baltimore and Washington DC homes for sale or rent from your own smartphone! Additionally, our interactive search listings will help you narrow down your search, with new listings sent directly to your email. Our agents are using the best technology on the market today, meaning they’ll be available and responsive when you need them most. With all of the right systems in place, Spectrum Enterprises are prepared for the future, and ready to make a profit for you.

For more information on this topic, visit the real estate CRMSoftware Advice blog’s original post.