Real Estate Information Archives - Loftway : Loftway


What Do Real Estate Agents Do?

6 Oct 2017 · by Virtual Results PubSub

What Do Real Estate Agents Do?

You’ve probably been told that if you’re buying or selling a Loft, you should work with a professional real estate agent. But do you know what real estate agents actually do for you? We understand that it can seem kind of mysterious. Here’s a behind-the-scenes look at the types of activities your agent is doing on any given day to help you close the deal.

They stay updated on the local market

The real estate market changes quickly, and a good agent will spend time every day checking in. They will review listings to find new properties, see which ones have been taken off the market, or what Lofts may have had a price reduction.

They respond to inquiries

Being a good agent means being responsive to clients’ needs. Real estate agents are always answering emails, returning phone calls and coordinating meetings and showings. They’re reaching out to potential new clients and meeting the needs of those they are currently working with.

They market their properties

It takes more than a listing in the MLS to sell a Loft. Agents will spend time marketing the Lofts they represent. This includes posting ads in newspapers and magazines, creating websites, printing postcards and flyers, making videos, hiring photographers and writing posts for social media.

They attend appointments

Agents will meet with both buyers and sellers. They will also attend meetings with inspectors, appraisers, photographers, contractors and anyone else that may have a hand in the transaction.

They prepare paperwork

Agents are responsible for preparing both offers and counter-offers for a Loft. Contracts can be extensive and confusing, and an agent will help explain and clarify what each document includes.

They negotiate

A large part of buying or selling a Loft is working through negotiations with each party. An agent can often spend weeks in negotiations, and will need to stay on top of what each party is agreeing to, to make sure all aspects of the deal are happening as they should.

They continue to learn

Professional real estate agents are required to keep current on market regulations. Most states require that agents attend classes and take tests to renew their licenses. Ongoing education is a large part of the life of a successful real estate agent.

They put out fires

Real estate agents are also continually putting out fires – not literal ones, of course. Buying and selling real estate is a complex process, with many pitfalls and obstacles along the way. A good agent will know what to anticipate and can help smooth out the rough spots of the process. Often, a client will not even know there has been an issue, because their agent has taken care of it before it became a problem.

They keep clients calm

Buying or selling a Loft can be one of the most stressful things you do in your lifetime. It’s easy to feel emotional. A good agent will understand where your emotion is coming from, but will maintain a healthy detachment. They will help solve problems and make the process easier, from that first email to closing day.




Don’t Sabotage Your Credit

6 Oct 2017 · by Virtual Results PubSub

Don’t Sabotage Your Credit

If you’re shopping for a Loft loan, you know that your credit score helps to determine what kind of loan you qualify for and at what rate. The better your score, the more favorable your terms will be. But do you know everything that goes into calculating your score? Here are some of the things that could negatively impact your rating. Avoid them while shopping for a loan and closing on Loft, unless you want to sabotage your credit.

Applying for new credit

While you might be tempted to open a new line of credit while Loft shopping, don’t. We know you’re going to need the extra cash to buy things for the new place, but applying for new credit can bring your score down. If you really need that extra buying power, wait until after you close.

Closing accounts

In addition to not opening new credit accounts, you should not close any old ones, either. Closing accounts can hurt your score in two ways. First, it will change your debt utilization ratio. The ratio is determined by how much debt you have divided by your total credit limit. Second, it also reduces the length of your credit history, which is also used to calculate your score. The longer your credit history is, the better.

Co-signing a loan

Just like you shouldn’t apply for new credit, you also shouldn’t co-sign on a loan while you’re trying to buy a Loft. Co-signing for a loan will be treated basically as though you have applied yourself, which will ding your score. So don’t co-sign on a family member’s car loan, for example, until after you’ve secured your mortgage.

Late payments

This one is probably obvious, but do not miss or make any late payments while shopping for a Loft loan. Even one missed payment can affect your score. Plan ahead and make sure you have all your payments covered for the coming months.

Maxing out your limit

Remember the debt utilization ratio we told you about earlier? That number is also affected should you max out your credit limit. If you are using more than 50 percent of your available credit, it starts to show in your score. Try to keep your debt utilization ratio under 30 percent if at all possible.

Missing errors on your credit report

Most importantly, do not fail to check your credit report before applying for a Loft loan. Ideally, you should do this at least three months before you begin shopping around. Millions of credit reports contain errors, and the only way to know if yours is one of them is to check your report. It would be heartbreaking to not qualify because of an error – especially if you’ve followed all the suggestions outlined above. You can order a report for free annually from AnnualCreditReport.com. If you see errors, contact the credit bureaus. It can take time to have the errors removed from your report. You’ll want to make certain it is error-free before you start applying for those loans.