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Why Use a Real Estate Agent?

15 Oct 2017 · by Virtual Results PubSub

Whether you’re buying or selling a Loft in Los Angeles, you’ve probably considered whether or not it’s really necessary to work with a professional real estate agent. With so much information available online, isn’t it possible to go through the process alone? While working for yourself may save you commission fees, it could end up costing you more in the end. Here are some of the most important reasons why we think it’s valuable to work with a professional.

Pricing expertise

Pricing a Loft is a little like playing Goldilocks. You don’t want to price too high or your Loft will languish on the market. You don’t want to price too low, or you’ll lose out on a better deal. You do want to strike the perfect balance and price it just right. A professional real estate agent will have expertise in the local market and knowledge of neighborhood comps. They’ll help guide you to choosing the perfect listing price for your Loft.

Dealing with paperwork

Buying or selling a Loft in Los Angeles generates a high volume of paperwork. This includes purchase agreements, disclosure statements, inspection reports and so much more. It can be time-consuming and intimidating to pore over each document. A professional real estate agent deals with paperwork every day, and can help you navigate through and stay on top of all the documents that need to be read, signed and processed.

Negotiation skills

Negotiating is a learned skill, and professional real estate agents practice it every day. Negotiating on your own behalf can sometimes be difficult, especially if you’re emotionally connected to the Loft. An agent can maintain professional detachment and treat the process as a business transaction.

Easy access

Although the Internet has made it easier than ever to list and browse properties for sale, it doesn’t take the place of having an agent assist with your search. A professional real estate agent will be connected to a network of other agents and have easy access to property listings. They can quickly perform searches to find Lofts in Los Angeles that meet your criteria, call the listing agents and set up appointments for viewing.  If you’re selling, an agent can field these calls for you, make appointments and answer questions.

Avoiding problems with closing

There’s nothing worse than getting all the way to closing day and have the deal fall through. Watching all those weeks and months of work just disappear can be frustrating. A good real estate agent will know what kinds of problems to look for and will be prepared to handle them before they become issues. This could include making sure the title is clear and that the lender will meet the deadline for financing. They’ll also stay on top of all the professionals involved in the process, to ensure that everything is moving forward on schedule.

Though technology has made it easy to gather information about buying and selling Lofts, it doesn’t take the place of a professional real estate agent. Having an expert in your corner can help mitigate much of the stress of the sale, head off potential problems and get you the best deal for your Loft.




Becoming a Landlord

6 Oct 2017 · by Virtual Results PubSub

Are you considering investing in real estate that you will use as a rental property? Or perhaps you’re getting ready to move and want to hold on to your current Loft so you’ll have rental income. Whatever the case, becoming a landlord can be a huge learning curve. Before you commit to owning a rental property, here’s what you should know.

Know the law

Before becoming a landlord, you should familiarize yourself with both state and federal housing laws. Understand that each state will have certain regulations about security deposits, how much notice needs to be given to tenants to vacate, and what kind of access you’ll have to the property. As a landlord, you cannot discriminate against potential tenants based on certain criteria, such as age, marital status or religion.

Have a plan for maintenance and repairs

Owning a Loft means planning for repairs and maintenance. If you live close by, you may be able to handle repairs yourself. If you’re living farther away from your rental property, consider hiring a property manager to handle repair requests. Know how you’ll address repairs when you’re out of town, and set specific hours when your tenants can contact you. You should also set aside ten percent of your rental income to cover repairs and maintenance costs.

Screen potential tenants

When searching for new tenants, you should have a process in place for screening applicants. It’s worth your time to do a background check, a credit check and to follow up on references they provide. If possible, conduct an interview to make sure you feel comfortable with them.

Prepared a customized lease

You can begin with a template for your lease, but take the time to customize it for your particular situation. Be specific about what is or is not allowed, such as the number of pets or use of the garage. Have a lawyer review your lease to make sure that it is in line with all current lease laws for your state.

Perform inspections

Before renting out the property, do a thorough inspection of the Loft. Document the condition and take pictures and/or videos. Have new tenants sign off on the Loft’s move-in condition. When the tenant is preparing to vacate, do another inspection and document any changes in the condition of the Loft. Be sure your lease clearly states what types of repairs the tenant is responsible for upon moving out.

Price correctly

Keep current with the housing market in your rental’s neighborhood. When it’s time to find a new tenant, research rental costs in your area for comparable properties and set your price accordingly.

Make it easy to pay rent

As a landlord, you want your tenants to pay their rent in full and on time every month. Make it as easy as possible for them to do this by setting up electronic payments. Establish a clear late policy and stay strict about enforcing late fees. Having the extra costs associated with late payments will make your tenants more likely to pay on time. If they don’t, the extra income helps to alleviate some of the stress you may feel.