BUYING FAQs

1. Are all real estate agents Realtors? What's the difference?
   
2. If I work with an agent, can he/she show me houses that are listed by other real estate offices?
   
3. How do I choose an agent to work with?
   
4. How much house can I afford?
   
5. What should I look for in a house?
   
6. Should I have an inspection of the house I want to buy?

1. What advantages are there to using a Realtor to sell my home instead of selling it myself?
   
2. How do you determine the price of my home?
   
3. What can I do to sell my home faster?
   
4. So I price it right. What else should I do to make it sell?
   
5. Another agent has offered me a higher list price for my home. Why should I list with you at a lower price?

BUYING FAQs

1. Are all real estate agents Realtors? What's the difference?

No, not all real estate agents are Realtors. Realtors belong to The National Association of Realtors and affiliate local and state associations and boards. Realtors subscribe to a strong Code of Ethics, which includes standards of practice. These requirements place Realtors a step above other real estate practitioners and assures the public of fair and ethical treatment of all parties. A Realtor has the opportunity to connect with local professionals and more than 45,000 members statewide and 750,000 worldwide. Realtors are offered a broad array of professional development opportunities including sales training, legislative trends, economic analyses, new marketing strategies and more. As a member of the Laredo Board of Realtors, we subscribe to the MLS (Multiple Listing Service), a computer database of valuable real estate market information.

2. If I work with an agent, can he/she show me houses that are listed by other real estate offices?

Most definitely yes. All offices share each other's listings to facilitate the sale of properties. One agent won't be able to show you more houses than another; they all have access to the same inventory and can make appointments to show you any property on the market that suits your needs.

3. How do I choose an agent to work with?

You should work with someone you feel comfortable with. For most people, a house is the most important purchase they will ever make, so it's important to feel like you can put your trust in your agent to guide you through the process. We'd be really happy if you chose to work with Ana Ochoa & Company and recommend that you stay with whomever you choose unless you are unhappy with your agent's performance. We all have access to the same inventory, so you won't see more houses with one agent over another. If you give an agent your loyalty, he or she will put his time and effort into giving you the best service he can. But if you're calling every agent in town, he will likely devote most of his time to his loyal customers instead of you.

4. How much house can I afford?

Lenders recommend that no more that 28% of your gross monthly income should be spent on a house payment. There are many different financing options available to you that your agent can look into for you. We can point you in the direction of many professional and experienced lenders to help you.

5. What should I look for in a house?

You'll want to look at different neighborhoods to find which suits you best in distance to work, schools, and shopping centers within your budget. You'll also want to consider how large a home you'll need and the style of house you prefer. Look for functional floor plans. Remember, too, that the largest house in the neighborhood may not be the best buy. Instead, look for a house that is comparable to the ones around it.

6. Should I have an inspection of the house I want to buy?

Termite inspections and repairs are often required by the lender in order to process the loan, and a full house inspection will give you the peace of mind that comes from knowing exactly what you are buying. The inspector's job is to point out what repairs are needed prior to closing on the home you are buying. We can give you names of qualified inspectors in the Laredo area.

SELLING FAQs

1. What advantages are there to using a Realtor to sell my home instead of selling it myself?

There's a misconception out there that you can save money by selling your house on your own. And maybe some people do. But most don't. Studies by the National Association of Realtors have shown that most sellers net more money after the sale if they used a real estate agent even after paying a commission. We're used to negotiating on your behalf and have done so on hundreds of other sales. We have access to information to sell your home more quickly and easily. We're in contact daily with other agents who are working with qualified buyers that may be interested in your home. This saves you from having unqualified buyers ringing your doorbell at all times of the day. We're experienced in working with lenders, inspectors, and title companies so that we can help guide you through unfamiliar territory. Your house will be advertised weekly and monthly in various publications and it won't cost you anything. And finally, we work weekends, evenings, and handle all calls from interested buyers so that you don't have to!

2. How do you determine the price of my home?

The market sets the price, not your real estate agent. We do a comparative market analysis (CMA) to determine the current market value of your property by comparing it to other homes that have sold recently in your area.

3. What can I do to sell my home faster?

If you want to sell your house quickly, you should price it correctly. The longer it's on the market, the more you pay in mortgage payments, dues, utility bills, maintenance, and the longer you will be inconvenienced by setting up your home for appointments for potential buyers.

4. So I price it right. What else should I do to make it sell?

Remember the 3 C-words: clutter, clean, and color. Pack up items you don't use. Make your rooms and closets look spacious. It's hard for most people to visualize a house without the clutter and you want to show potential buyers what your home would look like if it were theirs, not yours. In this case, less is definitely more. Clean your house from top to bottom, starting at the front door. First impressions are lasting! Neutral colors also help a house look larger and don't offend anyone. You may love your purple walls, but chances are most buyers won't and most can't picture the walls a neutral color. So it's best for you to do it for them. A coat of paint is an inexpensive way to make a world of difference. Bottom line, if you want your home to sell quickly, you should make it look like someone could buy it and move in right away. We can go over your home with you in detail and show you ways to help it sell faster.

5. Another agent has offered me a higher list price for my home. Why should I list with you at a lower price?

The real estate business is very competitive and many agents attempt to "buy listings" by promising a seller that they can get a higher price for them than what other agents tell them, hoping to get the listing and then reduce the price to a realistic level later. A seller that lists under these conditions runs all the risks associated with overpriced listings, and will probably get disgusted with Realtors as a whole and his Realtor in particular. Remember that pricing your property is not a "bidding war" between Realtors, and that the Realtor is not the buyer! Once again, the market sets the price of your home, not your real estate agent. Your home will sell for what a buyer is willing to pay for it in comparison to other homes on the market, and no more! Your agent should be able to provide you with hard data or you should be suspicious; he shouldn't come up with a price off the top of his head. He should prepare a thorough market analysis to tell you what houses are going for in your area. Maybe you'll want to speculate and price your home higher than the market, but truth is, the first 30 days your home is on the market are the most critical. If a house is overpriced and on the market for months, it often causes buyers to wonder why it hasn't sold and wonder if something is wrong with it. A house that has been on the market for a long time encourages low-ball offers because they assume the seller is desperate...and they may be right! If your house is overpriced, someone who might have been able to afford your house at the right price will pass it by and look for houses in his price range, not yours. You might think we want to underprice it so it will sell faster and we'll get a quick commission. But the fact is, if your house sells for more money, our commission will be greater. The decision is yours. Do you want your house for sale, or do you want it sold?