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Choosing a real estate professional you’re comfortable with is an important piece of the puzzle when it comes to putting your home on the market, but anyone going through the buying or selling process needs to be aware of the different types of listing contracts available”and which suits them best.

Exclusive Right to Sell
Most commonly used, this type of listing gives the listing agent complete control of the transaction, no matter who finds the buyer. In this type of situation, even if you have a friend who wants to purchase the home, the listing agent will earn the sales commission. If a second cooperating agent is involved in the deal, the commission is normally divided between the two. A normal contract runs 90 or 120 days, but if the house doesn’t sell and you’re happy with your agent, you can always re-up for additional time.

Open Listing
Often used by sellers who are trying to sell the home themselves, an open listing allows a real estate professional to be involved in the showing process. Multiple agents can be involved; however, the real estate professional that brings the buyer gets the commission. An agent who accepts an open listing isn’t going to do much other than show the home. For instance, they won’t market it or put it in the MLS, but if the home fits the criteria for one of their clients, and it’s convenient, they may be willing to bring someone around.

One-Time Show
Very similar to an open listing, a one-time show is most often used by real estate agents who are showing a FSBO (for sale by owner) to one of their clients. The seller signs the agreement, which identifies the potential buyer and guarantees the agent a commission should that buyer purchase the home, preventing the buyer and seller from negotiating later and trying to avoid paying the agent’s commission. As with an open listing, agents will not be spending money marketing the home, and it will not be placed in the MLS.

Multiple Listing
A multiple listing service will send listing information and photos to members who are working with appropriate buyers, and many listings are available elsewhere on the internet, allowing prospective buyers to research what’s for sale on their own. MLS members can submit exclusive agency and exclusive right to sell listings to the local MLS.

Published with permission from RISMedia.

You look at the palm of your hand and you can almost see it, the glistening, sense-of-security-giving key to your new home. Youve planned out your budget, youre on track for mortgage loan approval, youve thought of neighborhoods, youve called the agent, you are pretty much set. But then you figure, wow, what kind of home do I really want?

You could be set on dimensions and location, but deciding what kind of property you want to be responsible for is a whole different ball game. For example, there are condos and there are houses. In hopes of not pining over a decision for the next six months, lets focus on the basic differences between the two.

The biggest difference between condos and houses is that when you own a house you also own the plot of land that it is on. When you own a condo, you own the airspace occupied by said home, and perhaps part of a common area. A house will require lawn and structural maintenance that are solely the owners responsibility, while a condo will require maintenance to the outer structure that is split between the tenants.

Deciding which is better for you depends on many variables, starting with how much having a lawn matters, and whether or not you will be willing to invest on its upkeep.

Is renting out your property in your future plans? Then consider that condos will see tenants come and go more quickly. However, when it comes to selling, you might be get a better return on your investment when selling a house.

Do you prefer the privacy of your own property lot or the community of a condo? Communities are not a given in condominiums, but you sure will be seeing your neighbors whenever you use any of the common areas.

In the end, no one kind of property trumps the other. Instead, careful consideration of what your priorities and preferences are when it comes to your future home will guide you to making the right choice.

Published with permission from RISMedia.

So you’ve got new kitchen cabinets. Congratulations! But now what? For those wondering how to finish their brand-spanking-new cabinets, we run down the pros and cons of painting vs. staining”the two most popular finishing avenues. The kitchen is one of the most important factors in your homes value, so consider how the following information impacts your real estate investment.

Pros for paint
– It’s flawless. Regardless of the color you choose, painting your cabinets covers up any quirks or blemishes in the natural wood, which can often be magnified by staining.

– Your color choices are endless. When it comes to picking a paint, the world is your multi-colored oyster. Get crazy and really customize the look and feel of your cabinets.

– Paint sticks to lower quality materials. If your cabinets are not made of wood (think particle board), paint is your BFF. It sticks to these materials just as well as higher grade wood options, and no one but you will know the difference.

Cons for paint
– It looks more uniform. Remember those natural quirks we mentioned? Well you may not want to cover them up. If you’re looking for a more natural, country vibe that highlights those stunning features like grain and knots, opt for a stain over paint.

– It’s pricey. While not too expensive in the grand scheme, paint is more expensive than a stain, so if budget is a concern, take heed.

– Harder to touch up. Even if you can’t find an exact match for your cabinet color, when you’re working with stain, odds are you’ll have better luck blending touch-ups in stain than with picky paint.

Source: Houzz

Published with permission from RISMedia.

When it comes to getting your home sold, a positive first impression can make all the difference. Take a look at these four tips to help your home stand out from the competition.

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Homeowners insurance is supposed to cover catastrophes such as fires, hurricanes and a tree falling through the roof. But there are some much lesser problems that a typical insurance policy can cover.

Here are some of the surprising things covered by many home insurance policies. Check with your insurer first to see if youre covered for them:

Riot: Called a civil commotion by insurers, riots can include vandalism, fire and explosions, which are normally covered by home insurance. Having a state of emergency declared in your area because of rioting could make it easier to file a claim, as could a police report on damage to your home.

Volcano: If your home is in the path of an erupting volcano, your home is covered. Earthquake damage, however, isnt covered by most standard policies.

Dog bite: Up to $300,000 in medical care may be covered if your dog bites someone. Other claims, such as for pain and suffering in a civil lawsuit, may only be covered up to a certain amount or may require additional coverage.

Spoiled food: If a storm caused your power to go out and the food in your refrigerator is spoiled, your homeowners insurance should cover the cost of replacing the food. However, check if youll have to pay a deductible first and if its low enough to make filing a claim worthwhile.

Items stolen on vacation: Your belongings should be covered wherever you go by a homeowners policy, including on vacation under an off-premises provision. Had your laptop stolen in Lithuania? You should be covered. For more expensive items, such as a wedding ring, you may need to buy an additional rider to cover it.

Dorm theft: Just as your belongings are likely covered when youre on vacation, so are your childs things at college ” up to a point. A dorm room on campus may be covered by your homeowners policy, but off-campus housing may not be. The liability limits on a students belongings may be lower, so an expensive computer or bike may need to also be covered by renters insurance.

Gazebo: Your home is covered, and so is your entire property. This can include structures such as gazebos, storage sheds and patios. Tell your insurance company that you have such structures, and provide photos and other documentation such as work orders to show they exist and how much they cost.

Feel free to contact me for more real estate tips.

Published with permission from RISMedia.