Ocean City Real Estate BlogRecently posted or modified blog posts in the category - Sellershttps://www.coastallifeoc.com/blog/Copyright CoastalLifeOC.com2019-10-31T04:54:33-07:00tag:coastallifeoc.com,2012-09-20:2858Choosing an Ocean City Realtor<br class="Apple-interchange-newline" />There are literally hundreds of Realtors serving the Ocean City real estate market. You owe it to yourself to do your due diligence before choosing an Ocean City Realtor to assist you. The agent you choose to work with will have an impact on the value you get and the overall transaction.
1. EXPERIENCE
There are few ways that a Realtor can gain experience other than by working with Buyers and Sellers to get deals done. While time in the real estate business helps, it doesn't necessarily equate to adequate experience. A real estate agent that has been in the business for fifteen years part-time may not have as much useful experience as someone who has been in the business full-time for five years and had success. Viewing an agent's track record of past sales and their agent ratings will always tell the full story.
2. MARKET KNOWLEDGE
Confirm the Ocean City real estate agent you choose has market knowledge and experience in the specific areas that are of interest to you. Even in a small area like Ocean City there can be considerable differences between property types and related items. If the agent you choose to work with is not familiar with these nuances it could make for a challenging transaction and large opportunity costs.
3. TOOLS AND SYSTEMS
Does the agent have tools and systems that are going to streamline the overall real estate process and make life easier for you? If you are buying they should have tools to help you organize your search and make it more efficient. If you are selling they should have a listing portal setup for you so you know what is going on with your listing at all times and are being provided feedback from property showings. Once a purchase contract is secured they should have systems in place to assist in navigating from contract to closing with a minimum amount of hassles.
4. SUPPORT STAFF
A typical Ocean City real estate agent is responsible for all aspects of their business, which can get overwhelming for both themselves and their clients. You want to look for an agent that has support staff in place to help them manage their business. Ideally they should have a transaction coordinator to manage property sales and a listing coordinator to manage listings. Having these staff members in place to assist the agent ensures that nothing gets overlooked and that you have a hassle free transaction from start to finish.
5. RESPONSIVENESS
Did the agent answer the phone the first time you called them? If they didn't, did they get back to you promptly? If you requested information from them did they deliver it to you in a timely manner? You must choose an Ocean City Realtor that is responsive in order to get the results you are looking for in today's competitive real estate market. Deals get done off of momentum and choosing an agent that is responsive and proactive keeps the momentum going.
6. PERFORMANCE GUARANTEES
Experienced real estate agents will offer performance guarantees. These guarantees will provide easy exit options from the listing agreement or buyer agency agreement in the event that you are not satisfied with the respective agent's services or results. This likely won't be an issue if you choose an agent that possesses all of the skills and tools presented in this article.
7. AGENT RATINGS AND REVIEWS
Check an agent's ratings and reviews from previous clients that they have assisted with buying or selling real estate. These reviews and ratings will provide good insight into the agent's effectiveness, responsiveness and overall ability. Additionally, you will want to look at the agent's record of past sales to ensure they have the experience necessary to assist you in the market areas that are of interest to you.
If you have any other questions feel free to contact us anytime at 443-552-7579.
Contact Coastal Life2019-03-08T08:38:00-07:002019-03-08T08:49:10-07:00Nicholas Bobenkotag:coastallifeoc.com,2012-09-20:27966 Buyer Turn-Offs6 Buyer Turnoffs
Are you considering listing your Ocean City home or condo for sale this Spring? If so, you will want to ensure none of the issues outlined below are present in your property. The old adage is true, you only have one chance to make a first impression. These issues will immediately turnoff a potential buyer and they will not give your Ocean City home or condo a second look:
Damp or wet spots
Odors from pets, smoke or dampness
Dull light or darkness
Clutter
Outdated bathrooms and kitchens
Over the top decor
If any of these items are present in your property you will want to get them addressed prior to listing for property for sale on the Ocean City real estate market. In regards to kitchens and baths, many folks don't want to go through the hassle and cost of updating them. In this case you will want to check the kitchen and bath condition of comparable properties that have sold and set your listing price accordingly.
If you need assistance with any of the issues we have experienced contractors that can help. Feel free to contact us anytime at 443-552-7579 or via email below.
Contact Coastal Life2019-01-30T15:17:00-07:002019-01-30T15:39:55-07:00Nicholas Bobenkotag:coastallifeoc.com,2012-09-20:2772Who Represents Who?Before you start looking at real estate in Ocean City or enter into a real estate agreement to sell your property it is helpful to know which real estate agents represent who in a particular real estate transaction. Below is an overview of the three main capacities that an real estate agent can operate under:
Seller's Agent (Listing Agent) - A seller's agent works for the Ocean City real estate company that lists and markets the property for the sellers and exclusively represents the sellers. A Seller's agent may assist the Buyer in purchasing the property, but his or her duty of loyalty is only to the Seller. If you purchase a property from the Seller's agent you are unrepresented.
Buyer's Agent - A Buyer's agent will represent a Buyer in locating an Ocean City property to buy. A Buyer's agent assists the Buyer in evaluating properties, preparing offers and developing negotiating strategies that work in the best interests of the Buyer. This relationship is established through a Buyer Agency agreement.
Dual Agency - Dual agency arises when the Buyer's agent and the Seller's agent both work for the same Ocean City real estate company and the Buyer is interested in a property listed by that company. In this situation, if all parties agree the transaction will move forward under Dual Agency. Under Dual Agency the Buyer's agent and the Seller's agent can each fully represent their clients and their respective best interests.
If you have any other questions or want to discuss this in greater detail feel free to contact us anytime at 443-614-9179.2019-01-11T13:15:00-07:002019-10-31T04:54:33-07:00Nicholas Bobenkotag:coastallifeoc.com,2012-09-20:2669Closing Costs - SellersAs you consider selling real estate in Ocean City or the surrounding areas it is helpful to know what to expect in regards to closing costs. This will enable you to properly position your property and market it accordingly based on the net price you are trying to achieve. Closing costs will vary from deal to deal, however there are some common similarities that you will find outlined below:
Transfer Costs
Every time a property transfers in the state of Maryland the state and local municipalities charge transfer taxes on the sale, which total 1.66% of the purchase price. These transfer charges are typically split equally between the Buyer and the Seller, however they are a negotiable item.
Commissions
Sellers are responsible for the commissions associated with the property sale. Commission rates typically range from 5% to 6% depending on the property and the Ocean City Realtor you choose to work with. The commissions are paid at settlement from the proceeds of the property sale.
Deed Release
The Seller is responsible for the costs associated with releasing the current deed so the property can transfer. This cost will vary depending on the property and the title company doing the settlement, however it typically ranges from $125 to $150.
Prorations
You will be reimbursed for any items that you have paid in advance, such as property taxes and condominium fees. These items will be prorated down to the day of settlement and you will be reimbursed for the unused portion.
Non-Resident Withholding tax
If you are not a resident of Maryland you could potentially have Maryland withholding taxes that you will need to address for the property sale. If you are a non-resident and there will be any type of net proceeds from the sale on the settlement statement you will need to file for a non-resident withholding exemption. The title company that is handling your property sale can assist you with this.
We would be glad to have a preliminary settlement statement prepared for you so you know what to expect in regards to closing costs. If you have other questions or want to discuss this in greater detail feel free to contact us directly anytime at 443-552-7579.
Contact Us2018-10-22T14:18:00-07:002018-10-31T10:25:46-07:00Nicholas Bobenko