Purchasing a home is daunting. Thankfully, real estate agents like Kelly Jenks are available to help you find the home of your dreams. I asked Kelly to answer some frequently asked questions that people have for real estate agents/realtors. Here are her answers:
What advice would you give to someone looking to buy their first home?
The first thing I would advise them to do is to get pre-qualified by a bank, or the mortgage company of their choosing so they can start looking at homes they qualify for.
What are the benefits of buying a foreclosure?
There aren’t many benefits to buying a foreclosure. The seller’s of a foreclosure could be motivated to sell and that could get you a lower price.
How many houses does a real estate agent/realtor sell a month (on average)?
It really depends on the agent and how hungry they are! I like food with my meals so I aim to sell one a month. Top agents may sell upwards of 50 homes a year!
Who pays the real estate agent/realtor? The buyer or the seller?
The seller. When working with a buyer they don’t pay the agent at all. The seller pays a commission to both agents.
Are you required to tell clients that someone has passed away in the house?
No, in Colorado you do not have to give that information out. You must disclose any material facts you know about the home (leaky roof, infested with termites, mold) but a death is not required.
Do you recommend that prospective home buyers search for homes on Zillow, Realtor.com, etc.? Or should they leave the searching process to you?
They can look on those websites, but Zillow is very inaccurate. As an agent we have access to a website we can customize and set up for our clients so they aren’t looking at homes they cannot afford, homes that aren’t even on the market, and saves them time searching through pages and pages of homes. I can see what my clients like and don’t like so I can also narrow the search on their website after they have gone through and decided what they like and don’t like.
What type of wish list should clients give to their real estate agents/realtors during the initial meeting? The more detailed the better?
Sometimes the more detailed the harder. Generally I’d ask my clients their price range first. Then, I would ask what area they want to be in, how many bedrooms, bathrooms, garage, type of home (Bi Level, Ranch style. Condo, Town home). When they start saying things like, hardwood floors upstairs, carpet in the basement, granite counter tops and such that can make it very difficult!
How long does the home buying process typically take, from the first meeting to the move in?
If all goes well it takes about 45 days to close. It takes so long because of the paperwork that has to be filed and appraisals can take quite a bit of time to get them ordered and completed. After the appraisal happens we get the clear to close which can take anywhere from 3-5 days after that.
What do you think of the tiny home trend? Have you had clients that have requested a tiny home?
I think it’s awesome. The first house I sold in Manitou Springs was only 700 sq ft. I have had a few people ask about them. I know an agent in our office who knows someone building a tiny village in CO for tourists and people to come stay at for vacations!
Do you have any crazy stories from showing homes?
Haha! Where do I start?! When I first started I was helping a family member look for a home and this house was HUGE! We walk into the basement and hear giggling like something out of a scary movie. We slowly opened the door and it was an in home theatre playing a kids movie during our showing! We almost had a heart attack!
Looking to purchase a home in Colorado Springs? Have more questions for Kelly Jenks? Contact her directly at Century 21 Curbow Realty. Email: firstname.lastname@example.org Phone: 719-377-7280