As you might imagine, real estate agents field quite a few questions every day. You might also imagine that some questions about real estate come up more often than others.
Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction. First, you need to know how much you can borrow. Knowing how much home you can afford narrows down online home searching to suitable properties, thus no time is wasted considering homes that are not within your budget. Pre-approvals also help prevent disappointment caused by falling in love unaffordable homes.
Second, the loan estimate from your lender will show how much money is required for the down payment and closing costs. You may need more time to save up money, liquidate other assets or seek mortgage gift funds from family. In any case, you will have a clear picture of what is financially required. Finally, being pre-approved for a mortgage demonstrates that you are a serious buyer to both your real estate agent and the person selling their home.
Most real estate agents will require a pre-approval before showing homes - this is especially true at the higher end of the real estate market; sellers of luxury homes will only allow pre-screened and verified buyers to view their homes. From start searching online to finish closing escrowbuying a home takes about 10 to 12 weeks.
Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days under normal market conditions.
Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that. Market conditions are a major factor in how fast homes are sold. In hot markets with a lot of sales activity, buying a home may take a little longer than normal. For example, a spike in home sales increases the demand for property appraisals and home inspections, yet there will be no increase in the number of appraisers and inspectors available to do the work.
Lender turn-around times for loan underwriting can also slow down. If each party involved in a deal takes a day or two longer to get their work done, the entire process gets extended. Here are some of the drivers of demand:. Several factors may affect long-term and short-term buyer demand, like: Economic disruption - a big employer shuts down operations, laying off their workforce.
A stratified market happens where supply and demand characteristics differ by price point, in the same area typically by city.
This scenario comes along every so often in West Coast cities where international investors - looking to park their money in the United States - buy expensive real estate. At the same time, home sales activity in mid-priced homes could be entirely different. Home shoppers pay little or no fees to an agent to buy a home. For most home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer. Listing brokers represent sellers and charge a fee to represent them and market the property.
Marketing may include advertising expenses such as radio spots, print ads, television and internet ads. The property will also be placed in the local multiple listing service MLSwhere other agents in the area and nationally will be able to search and find the home for sale. Agents who represent buyers a. Most loan programs require a FICO score of or better. But that figure includes first time and repeat buyers. A longtime favorite, the FHA loan, requires 3.Are your open houses, email campaigns, and website not getting as much traffic or traction as they used to?
Specifically social media. With the number of users on social media growing every year, platforms like Facebook, which has 2. Use your Facebook page as part of your multi-channel approach — in addition to running ads, generating website traffic, and staging open houses — to get creative and find new ways to interact with users.
Polls and quizzes require your audience to actively take part and share their opinion.
This requires them to do more than just like a post and move on without digesting the information. People love getting something for free. Use your real estate Facebook post to give something away for free. For example, a home evaluation, home staging service, or gift. Contests also give your lead generation efforts a boost. Ask people to follow your page for a chance to win or ask them to sign up to your email newsletter to hear about even more exclusive contests.
When a new customer buys a house, take a picture of them in front of their new home and post it to your page. Tell people a story about who these customers are, what city they bought in, and a little bit about their journey to becoming homeowners.
We live in an age where people like to research online before they commit to a purchase.
So when potential customers find your Facebook page, they want to see more than just listings. Take the time to tell stories about real customers because this gives your audience an insider look into who you are as a real estate agent and how you work with customers.
Videos posted on Facebook generate an average of eight billion views per day. Clearly, people are more likely to engage with videos that resonate with them on your real estate Facebook page compared to text or image posts on Facebook. For example, offer a giveaway like this example that incorporates the time of year and information followers are likely to be interested in.
Timely giveaways offer your audience something they can use immediately — like home decor for the fall. To grow your audience, ask followers to tag two or three people for a chance to enter the draw. This shows other visitors to your page the types of giveaways they can expect from you and creates a sense of fear of missing out — FOMO — which will encourage them to take part in the future.
Before each open house you host, post a video walk-through of the property.
15 Common Real Estate Questions
Use Facebook Live or upload a short video. Continue to post listings there so that web traffic has quick access to listing details, but also post a summary of your listings on your real estate Facebook page. As mentioned earlier, Facebook has over 2. Do the neighborhoods your properties are listed in have amenities that appeal to your target audience?Real Estate Exam Practice Questions - 50 Questions with Answers
If you work with baby boomers who want to downsize and move into a smaller home, do you target neighborhoods that offer trails and parks that homeowners can walk? Similar to posting images of key amenities and features in a neighborhood, another real estate post idea is to also include images of businesses in the area. For example, if there are banks close by, shopping centers, or fitness centers, add pictures of these to your Facebook page. To make your images stand out, consider using a drone to take pictures.Though you're welcome to continue on your mobile screen, we'd suggest a desktop or notebook experience for optimal results.
Create online polls, distribute them using email and multiple other options and start analyzing poll results. Get real-time analysis for employee satisfaction, engagement, work culture and map your employee experience from onboarding to exit! Collect community feedback and insights from real-time analytics!
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SMS survey software and tool offers robust features to create, manage and deploy survey with utmost ease. Learn how to successfully create, send, analyse and draw meaningful insights from market research surveys.
Understand how to optimize customer effort score benchmark and its comparison with net promoter score. Learn everything about Likert Scale with corresponding example for each question and survey demonstrations. Course Experience. Also view Creating a survey with QuestionPro is optimized for use on larger screens - Though you're welcome to continue on your mobile screen, we'd suggest a desktop or notebook experience for optimal results.Speak now. One of the most profitable businesses in modern-day society, real estate has transformed many people into millionaires because of significant investments at the right time in the right place.
We have all sorts of questions meant to challenge you at every step. Unless they hold title in a Mexican Corporation, foreigners cannot buy land in Mexico within what range of the coast? The Irish property bubble was a rapid increase in the price of real estate, a time in which Ireland was known as what? Get all the assets and lands and create your own real estate empire. Test your knowledge in 15 questions about real estate prices, foreclosures, investment returns, and the mortgage interest deduction.
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When it comes to selling a house there are some things that one has to know is deal with prospective clients and attract the people needed. Having covered chapter one on basic real estate principles in the real estate fundamental Real Estate Taxation.
What do you know about the topic? Not exceeding 1. Not exceeding 2. Real Estate Terminologies. The periodic payment which includes principal.
The periodic payment which includes interest. The periodic payment which includes principal and interest. None of the above. Bp Batas Pambansa Community facilities. Parks and playgrounds. Drainage system. CA Real Estate Quizzes. Real Estate Sales Person Quizzes. Real Property Quizzes. Property Quizzes.Skip down to page content. Today we will test your Real estate knowledge. No, you don't have to have a real estate license for these questions.
This is popular culture trivia. Let's see how much you know. Answers are at the bottom. What famous person said this? What Real estate board game became the best-selling game in America just one year after it was created?
What time of year is considered the busiest for homebuyers and sellers? What area was designed to look like s southeastern town with traditional architecture? The U.
Government with over million acres! George Washington, the first President of the United States 4. The Florida Land Boom. Carl Fisher founded Miami that year and brought hundreds of investors to the state. Will Rogers, who began his career as a rope-throwing cowboy and later became a famous stage and film star. Monopoly, created by Charles B.
Darrow in His intention was to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over million copies.
Disney's "Celebration" in Orlando, FL. When finished Celebration will have 8, residences and many commercial tourist attractions. Fun Real Estate Trivia. Answers are at the bottom 1. Who is the world's largest landowner? What is the name of Elvis Presley's home? What town did The Flinstones call home? Answers: 1. Matt, thank you for your comment, the answers are listed there at the bottom.As of April 6,the novel coronavirus has infected at least 1. Its rapid spread has not only devastated healthcare systems, but also economies across the world.
Nearly million people in 38 states are mandated to stay at homemeaning non-essential businesses are losing money because people are spending less or they have been forced to shut their doors for the time being. In short, America's financial and economic stability is being tested, so Clever set out to investigate how homeowners and renters are managing these new challenges. To do so, we surveyed homeowners and renters on March 31, approximately two weeks after the first state-wide mandate to stay at home was issued in California, to learn exactly how COVID is affecting Americans financially.
We were particularly interested in how people's jobs, real estate ventures, ability to pay down debts, and financial wellbeing in general were impacted by the economic downturn resulting from the novel coronavirus. The survey was conducted shortly after the novel coronavirus made an impact in the United States. More specifically, all respondents were surveyed on March 31, approximately two weeks after the first state-mandated limits on gatherings went into effect.
According to experts, people should save enough to cover their expenses for about months. Homeowners are at greater risk of becoming delinquent or defaulting on their mortgages due to stay-at-home mandates.
The most recent government mandates suggest stay-at-home measures should continue until at least the end of April, but if lockdown measures are extended much longer, many homeowners are at risk of getting behind on mortgage payments.
Those homeowners might benefit from the extra money in that they might be able to pay their mortgage and some bills for some time. Some people will receive that money quickly if they signed up for direct deposit when they filed their or tax returns or receive social security benefits through direct deposit from the government.
But paper checks will take longer : Checks will get mailed between April 24 and September 11,depending on the taxpayer's income. Our survey data provide early signs that people's financial situations will likely impact the housing market in the coming months — a trend that is supported by larger data sets, as well.
According to data from Realtor. With fewer home listings recently, buyers can't be certain about what is going to happen to the market in the coming months. It's possible that sellers are in a tight spot and need to get rid of their homes even if that means taking a lower offer; but fewer homes for sale could drive up prices.
That uncertainty coupled with the financial turmoil many Americans are experiencing as a result of COVID has caused many potential home buyers to make concessions. Under the CARES Act, owners can request mortgage forbearance wherein they suspend or greatly reduce their mortgage payments for up to days.
People with mortgages backed by the federal government don't incur any additional fees or penalties for forbearance. Those homeowners might have gotten behind on their payments before the stimulus package went into effect, meaning they can still make arrangements with their lenders for future payments.
However, some mortgages — specifically those that aren't backed by the federal government — don't qualify for relief under the act. Lenders can choose to approve forbearance requests, but aren't required to do so. For owners in the latter case, foreclosure is a risk, but not an imminent one as the CARES Act placed a moratorium on foreclosure for 60 days from March Like homeowners, renters just aren't saving enough.
Real estate surveys
Renters, though, are even less prepared than homeowners. Compared to homeowners, renters we surveyed were twice as likely to report that they'd never had emergency savings.
A lack of savings on top of diminishing job security has led one-third of renters to be more worried about being evicted now than they were prior to the COVID pandemic. The CARES Act includes some protections for renters; particularly, there are moratoriums on evictions and late payment penalties for 60 days at the federal level.
While this allows renters some leeway in their spending, not all rental properties fall under the law, meaning many renters are at the mercy of their landlords in some cases. More specifically, only rental properties that are federally financed i. So some renters could incur late penalties or risk if they aren't able to pay. It's important to note that many local governments have similar mandates for all landlords, regardless of whether their properties fall under the provisions of the CARES Act.
For instance, St.Everyone can benefit from a silly poll question every now and again. These questions are a great way to mix up the flow of your presentation and set a positive tone for the audience. Half the fun is seeing what ridiculous responses your friends and colleagues come up with.
Use Poll Everywhere to easily insert interactive poll questions into your presentation and see the audience responses fill up the screen. The audience responds on their phones or other web-enabled devices and the results will appear on your Poll Everywhere page. Each question can be copied directly to your Poll Everywhere account. Sign-up for a free account today! Ask your audience to rank how they feel about the presentation to make the experience interactive.
With Poll Everywhere, you can spice up your multiple choice questions with images and animated gifs instead of text responses. Try out these 5 fun multiple choice questions below:. Word clouds are a popular way to visualize open-response questions. In addition, Poll Everywhere supports emoji responses, which can easily be removed or monitored. Now, imagine those responses were scrolling upward, one after the other, pausing between each one to give people time to read what it says.
You can also include screen names to show who responded. Read more: 9 interactive ideas for squashing boring PowerPoint. You create the question and the audience can submit any text response they wish. They can then upvote their favorite responses on that list. Responses with more votes rise to the top — in this case, showing everyone who had the funniest response. Participants see this image on their devices, and can click anywhere on it to drop a green pin at that location.
This creates a sort of heatmap of audience responses. You can even designate specific regions of the image as correct or incorrect, such as in the optical illusion poll below. All of these funny poll question formats are available for you to use today with a free Poll Everywhere account. Sign up now, create as many polls as you like, and be ready to collect responses in minutes. Special thanks to Fantastic Unused Band Names for the band name ideas.
Maxwell works with a wonderfully thoughtful team of presentation enthusiasts. He shares their presentation wisdom in bite-sized morsels here on the Poll Everywhere blog.
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