Owning a rental property involves considerably more than collecting rent and maintaining a building. Every decision a landlord makes—from selecting a tenant and documenting the tenancy to responding to maintenance concerns, arranging repairs and communicating about problems—can affect both the success of the tenancy and the landlord’s potential exposure when ...
Continue ReadingReal estate transactions involve a large number of decisions, deadlines, expectations and professional relationships. Buyers, sellers, landlords, tenants, lenders, lawyers, inspectors and real estate representatives may all be involved at different stages, and each participant may be working with only part of the information required to complete the transaction successfully. ...
Continue ReadingReal estate professionals naturally want to help people who approach them about selling a property. A new listing represents an opportunity to provide professional services, develop a client relationship and, if the property sells successfully, earn remuneration for the work performed. That can make declining a listing feel counterintuitive, particularly ...
Continue ReadingDon’t brush off these telltale signs of a bad real estate agent Did you choose your real estate agent based on a friend-of-a-friend’s referral, a quick Google search, or even a flyer in a mailbox? Is your gut telling you it isn’t the right fit, but you’re not sure if ...
Continue ReadingWhen a seller hires a real estate brokerage to market and sell a property, the representation agreement establishes how the brokerage will be compensated for the services it provides. Depending upon the arrangement, the agreement may also address remuneration payable to another brokerage involved in bringing a buyer to the ...
Continue ReadingOrganizations rarely move from one governance model to another overnight. A business, brokerage, professional practice or other organization may recognize that its existing approach to governance has become too operational, too dependent on individual decision-makers, or too focused on managing immediate issues. Leadership may want to establish a more strategic ...
Continue ReadingArtificial intelligence is changing the way information can be reviewed, compared and understood. In real estate, that development may eventually have implications extending well beyond property searches, valuations and marketing. One of the potentially significant applications is tax compliance. Real estate transactions generate enormous amounts of information. Properties are purchased ...
Continue ReadingWhen people think about negotiating a real estate transaction, price is usually the first issue that comes to mind. Buyers naturally want to know how much they will have to pay, sellers want to know how much they will receive, landlords focus on rent and tenants consider occupancy costs. Price ...
Continue ReadingChoosing a tenant is one of the most consequential decisions a landlord makes. Once a residential tenancy begins, the relationship may continue for many years, during which the landlord is relying on the tenant to pay rent, reasonably care for the property, respect other occupants and comply with the tenancy ...
Continue ReadingSelling a home is one of the largest financial transactions many people will undertake, so it is understandable that homeowners pay close attention to the cost of selling. When interviewing REALTORS®, sellers may encounter different commission structures, flat-fee arrangements, limited-service offerings and professionals describing themselves as providing “full service.” The ...
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