Posts Categorized: Selling Your Home

Dual Agent Vs. Team

real estate team near me

 

Team vs. Dual Agent

Clients often ask us, “why did form a team instead of just doing everything yourself?” In the beginning of Rosie’s 25 year career she did it all! She chose to form a team for several reasons such as being able to help more people, growing the business, streamlining the process and also ethical representation for her clients on both the buying and selling sides. In this blog we are going to focus on the latter…

What is a dual agent?

A dual agent is when a real estate agent works with the buyer and the seller on the same transaction simultaneously. Here’s a common scenario when dual agency may occur:

A real estate agent is hired to sell the home of a client named Mary. That real estate agent has a second client, named Rob, who is in the market to buy a home. Rob tours Mary’s home and decides he wants to purchase the home. Because both Rob and Mary are clients of the same real estate agent, the transaction is considered an example of dual agency.

Sounds pretty cut and dry, right? WRONG! It can muddy the waters because it creates a huge Conflict of Interest. When a real estate agent represents a seller, they are supposed to obtain the highest possible price for their seller with the least amount of contingencies. Similarly, when an agent represents a buyer, they are supposed to help them get the lowest possible price while making them feel comfortable with the condition of the home, usually through an inspection. However, if the same agent is representing both the buyer and the seller, getting the client the best price becomes extremely difficult. If the real estate agent is selling a home that is overpriced, they cannot disclose that to the buyer because they are going against their loyalty to their seller. However, they are also doing a disservice to their buyer because they are knowingly selling an overpriced home and are unable to advise the buyer against purchasing it out of loyalty to the seller. Without realizing it, the agent may also favor one side of the party a bit more than the other, depending on how long the real estate agent has known the buyer/seller, personal relationships, etc. This may be completely unintentional but can happen without the real estate agent realizing it. 

A dual agent is more likely to overlook important details as well!  Being a dual agent is extremely stressful and puts the real estate agent in a precarious situation. Managing both a buyer and a seller on the same transaction simultaneously may lead the real estate agent to mix up certain documents or miss important information altogether without meaning to do so. They also have the inability to negotiate price or inspection issues. In dual agency, the real estate agent is working in the best interests of both the buyer and the seller, making negotiations tricky. In a standard transaction scenario where a buyer’s agent and seller’s agent are both involved, the seller’s agent will advocate on the seller’s behalf to ensure the seller does not have to pay excessive repair costs if an inspection report comes back with several issues. The buyer’s agent will do the same for their buyer, negotiating that the repairs are taken care of or the buyer is credited in some way for excessive repair costs. However, this is difficult to do as a dual agent because the real estate agent’s interest is divided equally between the buyer and seller.  

For the reasons outlined above, this is why we formed a team.  An ethically-minded real estate agent always puts their clients’ needs first, even if that means giving up a larger commission. We have buyer’s agents who work exclusively with our buyers and seller’s agents who work exclusively with our sellers. As listing agent Melissa Hudson always says, “it’s like church and state”, meaning we as a team keep everything separate to protect the clients. This is the way we have chosen to do business and it must be working, we are the top real estate team in the King County area and top 1% nationwide! It pays to put your clients first!

Home Office/Homeschooling Spaces

homeschooling workspace ideas

Need a Home Office/School Space?

Ideas for Work From Home Spaces, Homeschooling Areas & Maybe It's Time For More Space!

One trend we are seeing right now in real estate is clients wanting a home office or homeschooling space. Like it or not, working from home and distance learning for the kids are both here to stay. After months of being at home, do you still love your house? Does it suit you current family needs? Here are some cool ideas for converting areas of your home into homeschooling spaces or a home office for those ZOOM calls!

https://www.pinterest.com/rosierourke/

Many of our clients are also finding out that being home for so long has shown them some of the limitations of their space. Remember when you bought your house and you said,

“What do I need that extra bedroom for? Why do I need a home office, I work in a building downtown? That bonus room is a waste of space?”

Open concept homes are great until you need a quite space for a ZOOM call or an area for the kids to set up their “classrooms.” You have options, maybe it’s time to upsize? Odds are you have some great equity in your home!

“But Rosie, if I sell my house how can I afford a larger home, home prices are up all over?”

This is where the low interest rates come in. Lower rates mean more buying power for you. So yes, home prices are up, but with your equity in your current home + low rates, it might be more obtainable than you think! All it takes is a simple phone call, text or email to our team and we can give you a better idea of what your home is worth and what is available in the market for you. Just reach out, let’s chat!

It is a great time to sell, buyers are circling and looking for a home like yours, trust us! Everyone is climbing the real estate ladder right now. Renters are buying condos, condos are upsizing to starter homes, starter homes are upsizing to forever homes, forever homes are downsizing to ramblers, and everything in-between! Our team has helped over 100+ clients already this year go from one end to the other, we have this dialed in.

“But Rosie, the thought of packing up and moving is scary and overwhelming, where do I start?”

RELAX, this is what we do! We don’t just throw a sign in the ground and leave you to do it all, we take care of everything! The moment you decide to let us guide you on your home sales journey we lean in to make sure you have a stress free experience! From scheduling contractors, movers, people to help you de-clutter, we’ll even be the ones to meet with the vendors for you so you don’t have to miss work! We are full service!

“Ok, but what about selling then trying to buy something, I don’t want to be displaced!”

Another great question, we have solutions for that as well! Using the equity in your home to buy a new one all while trying to sell it is both an art and a science. We work with some of the top lenders in the area who specialize in just that. We have several outside the box options to ensure you get top dollar for your current home and find you your new home. We can make it a seamless process, but you need to reach out to us to discuss these options because every situation is unique. There is also a possibility of an off market solution! Being the top team in the area we are connected to active buyers as well as other agents. In some cases selling your home without listing it is a great way to help you achieve your real estate goal without the anxiety of putting your home on the market. Once again, contact us and let’s chat about your options!

In closing I just want to say… HANG IN THERE, YOU CAN DO THIS! We hope this post was helpful and let us know if we can do anything for you! – The Rosie Rourke Team

TIME TO SELL!!!

what is the best time to sell my home in fairwood

 

With Rosie Rourke being one of the top agents not only in the King County, Fairwood, Renton, and Kent areas of Washington, but the entire country, she is invited to speak and be a part of round tables and webinars for other realitors. The theme is the same during every discussion... what is going on with the SE King County Real Estate Market???

Experts from all of the country are calling our local real estate market one of the most resilient in the ENTIRE United States!

Check out the reasons why above and let's have a conversation about your needs, both buying and selling! 

Summer Market Update

Now Is The Time!

Now is the best time to sell your home in the Fairwood, Renton, Kent, Maple Valley & South King County! It all starts with a conversation and a REAL home valuation done by one of the top real estate teams not only in the Northwest, but the entire nation! 

State of Real Estate in Kent

Buying & Selling Real Estate in Kent & the South Sound During COVID-19

Recently Rosie Rourke was asked to be an expert panelist for the Kent Chamber of Commerce's State of Real Estate ZOOM call. Skip ahead minute 4:39 get Rosie's real estate update! 

Buying & Selling Real Estate in Kent & the South Sound During COVID-19

Recently Rosie Rourke was asked to be an expert panelist for the Kent Chamber of Commerce's State of Real Estate ZOOM call. Skip ahead minute 4:39 get Rosie's real estate update! 

June Market Update

should I sell my house now with a real estate agent near me

Should I sell my house now? YES! 

The latest Market Insights Report is in... but what does it mean? It means that inventory (homes for sale in our area of Kent, Renton, Fairwood, Maple Valley, etc) are at historically LOW levels! This was a trend before #COVID19, there are just not enough homes for sale right now. Combine this with a historically high number of qualified home buyers literally waiting for something to hit the market in their price range and desired area. This combination is what is contributing to our ??? real estate market in South King Country! Here is what you need to do next... ⬇️
 
✔️Step One: See how many buyers have a home like yours in their search criteria RIGHT NOW here: www.rosierourke.com/buyernow
 
✔️Step Two: Check out the 5 reasons you should consider SELLING NOW here: www.rosierourke.com/sellnow
 
✔️Step Three: The last step is to reach out to an experienced real estate team that knows the market, is local, and has the experience to not only give you a stress free real estate experience but also navigate you through these unprecedented times! Team leader Rosie Johnson Rourke is celebrating 25 years in real estate this fall with an additional 20+ years of experience from the rest of the #rosierourketeam! Learn more about selling during COVID-19 here: www.rosierourke.com/spring
 
?OR... just cut to the chase, have a no pressure conversation with Rosie directly about your options, your concerns & your goals by calling/texting 206.719.5870

Save Money During COVID-19

how to save money during COVID-19

 

Here is a quick message from Rosie about this post and the money saving ideas she's compiled to help you get COVID-19! 

 

Tip #1 Save Money on Your Mortgage!

Contact your loan servicer to find out how they can help if you can’t make the payment. Forbearance is one way, but buyer beware-nothing is free! I recently sat down with one of our preferred lenders and asked everything my clients should know! 

 

If would like to reach to Nichole Stearns directly here is her contact info!

Nichole Stearns - Branch Manager
Fairway Independent Mortgage Corporation
709.4136 nicholes@fairwaymc.com

#2 Still Paying PMI?

Still paying Private Mortgage Insurance (“PMI”) for your home mortgage? Your bank does not automatically remove it-you have to request for it to be removed! Save big each month if you have at least 20% equity in your home. Contact me and I can help determine that for you.

#3 Bank Loans

Bank loans – contact your debt companies and you may be pleasantly surprised to find helpful payment plans. Such as Bank of America. In response to COVID-19, Bank of America is offering payment deferrals for home loans, auto loans, and credit cards for up to 90 days. - https://www.businessinsider.com/personal-finance/bank-of-america-covid-19-2020-4

#4 Utilities

Utilities – contact your utility companies. Some are waiving late fees and creating a payment plan. Puget Sound Energy has a relief program and will not disconnect your power during Covid crisis. For more details - https://www.pse.com/press-release/details/learn-about-our-covid-19-response-plan

#5 Refinance

If your interest rate is over 4.5%, you may benefit from refinancing your home mortgage. Call your loan servicer to learn more.

#6 Stock Market

Stock Market – Want to learn more about market volatility and five actions to consider today? Watch this video provided by John Schneider, a Financial Advisor at Edward Jones. He is a Kent Chamber of Commerce Member, check out this video to learn more:


https://www.edwardjones.com/market-news-guidance/client-perspective/navigating-pullbacks-video.html

Here is John's info if you have any direct questions:

(253) 872-2600
john.schneider@edwardjones.com
www.edwardjones.com

#7  Real Estate Taxes!

Real Estate Taxes – if you are over 61 and fit into a financial category deemed by King County as eligible, you could drastically reduce your real estate taxes. Visit is helpful website to learn more: https://dor.wa.gov/content/property-tax-exemption-program-senior-citizens-and-disabled-persons

#8 Tips From a CPA

Local CPA, Lois Vankat from Shannon & Associates, has a website packed with great tips and information such as…


* Coronavirus Aid, Relief, and Economic Security Act (watch for your money in the mail if you qualify!)


* attention employers, there is a great read about the Family First Coronavirus Response Act


* Emergency Economic Relief Update – SBA loan programs summary


* What you should know about your retirement plan and how it is affected by the CARES act


* The Coronavirus Aid, Relief, and Economic Security Act – what does it mean for you?


* Relief for Washington Business and Employees


Learn more at https://www.shannon-cpas.com/resources/blog/

Here is Lois's information if you would like to reach out to her directly:

Lois D. Vankat, CPA
Senior Manager
Shannon & Associates 253.852.8500
lvankat@Shannon-CPAs.com

#9 For Tenants & Landlords

If you are a Tenant or a Landlord, learn about changes due to COVID crisis such as rent freeze, eviction bans, etc.  Read this Rental Housing Association of Washington article:
https://www.rhawa.org/blog/governor-enacts-rent-freeze-expands-evictions-ban-due-to-covid-19-crisis

THANK YOU, HOW CAN I HELP?

If you need anything real estate related please reach out to me and my team! People are still selling, and buyers are still buying, and we are ready to assist you anyway we can! 

More Listings Needed!

what is going on with real estate during covid19

 

Happy May Day everyone! Did you get the Market Insights report in your inbox? You are probably wondering what this graphic means, right? It means that there are literally no houses for sale! Ok, yes, there are houses for sale, but the number of listings is so low that it is counted as a ZERO. This combined with a historic number of qualified buyers looking = a HUGE opportunity for sellers RIGHT NOW! Don't believe me? Take a second and see how many buyers have a home exactly like yours in their search criteria RIGHT NOW here: www.rosierourke.com/buyernow

Learn more about buying and selling during COVID-19 at www.rosierourke.com/spring

We are here to help you not just with your real estate needs and goals, please reach out if you need anything! #stayhome #staysafe #rosierourketeam #homesforsale #househunting

Are People Still Buying Homes?

are people buying homes during COVID-19?

 

Literally everyday a friend, client or even someone at the grocery store asks us the same question, "How is real estate during all of this, are people still buying and selling?" The short answer is YES! The market is very healthy for both buyers and sellers, take a look at the market stats for King County last week.

Learn more about the steps we are taking to keep our clients safe during covid19 and the #stayhome #staysafe order at www.rosierourke.com/spring

Please reach out to Rosie directly if you have any questions or need help in anyway!
 

LIVE TO LIST

From Living in Your Home to Listing Your Home!

People always ask me, "Rosie, how is your team different from other real estate agents?" We take the time and put in the work BEFORE your home lists to help you get it ready! Most agents sign the listing agreement and you don't hear from them until listing day... that is NOT US! I've always found that pre-inspections, work orders and simple updates to a home is the secret sauce for a successful listing.

My team and I meet with vetted contractors, help you declutter/organize, and we know what today's buyer is looking for. We are there to hold your hand every step of the way, we want this to be a stress free experience! Here is a great example of a recent listing in Fairwood and how they went from LIVE TO LIST with the Rosie Rourke Team, enjoy! 

 

 

After watching the video you'll first hand how we were able to help this client! Yes, they did get top dollar, which is important, but they also had a stress free experience! Here is a great testimonial from them:

"We have watched Rosie and her team in action over the years and thought perhaps her group would be a good choice when it was time to sell our home and find a new one. We were impressed from our first meeting with her team. To say she knows the area she sells in is an understatement. Rosie and her group are long-standing community members who truly have the business experience to put their knowledge and connections to work for clients. Let me be clear-we also chose Rosie and her group because we really had confidence that they were working in our best interest at all times-not something we feel is true of all agents in our area. Rosie’s team was there for us at every level with advice, assistance and excellent business contacts for banking, contractors, inspections...the works! We brought a home to market with a clean inspection, completed a purchase of a new home and sale of existing one in a few short weeks. Looking back, I know for certain we would have spent more money and taken much longer to get to the finish line had we worked with anyone else. We are so grateful for all the hard work and responsiveness of her entire team. Questions were answered, problems solved, good humor an professionalism right down the line. This is not our first home and we recall all the setbacks and frustrations that can come about during this process if details are missed or someone has their bottom line as a priority over your own. We are doubly aware of the quality of services we received. Do not hesitate to give Rosie’s group a call. I’d put them at the top of your list. Set up a meeting, do your homework and let them impress you."

Need Help?

Thinking about buying or selling? Fill out the form below to get in touch with me (Rosie) or you can call or text me anytime with questions!