Rediscovercny's Blog

Buyer’s Agency and Selling Your Home in CNY

rediscovercny — Sat, 17 Sep 2011 21:56:14 +0000

Let me share with you important information that will help you to understand how things work in relation to representation and commissions.

Three separate entities involved are realtors, real estate agencies and the Multiple Listing Service (MLS).

1. Agents may cross over to other agencies in transacting business, without any extra expense to the Buyer.

2. For our discussion here, we focus on two kinds of real estate agents: The Listing Agent (Sellers Agent) and the Buyers Agent (on the MLS, referred to as the Selling Agent).

3. The Sellers Agent or Listing Agent is the realtor that lists the persons home – the realtor that has the sign in the yard.

4. The Buyers Agent is the agent that “brings” or shows the buyer that listing. Also, it doesn’t matter which company is involved. Example: An ERA agent can show a RE/MAX listing to one of his/her buyers or a Century 21 agent can show an ERA listing and so forth.

5. The seller of a property desires his Listing Agent to not only use his/her own efforts, but the efforts of hundreds of other agents from all the real estate companies to expose the property to as many agents, agencies and buyers as possible.

6. This exposure or meeting ground takes place on the MLS.

7. What the MLS does for the Listing Agent is to expose the listing to all the buyers agents from all the real estate companies. The Listing Agent offers an incentive to the Buyers Agent by splitting his/her commission as a shown written arrangement on the MLS. The standard going split is half and half or usually 3% (Buyers Agent) and 3% (Listing Agent). The Buyers Agent now has incentive to “bring” the buyer.

8. The asking price that the Seller sets includes all commissions, to be taken out of the asking price at closing from the Sellers pocket, and at no time from the Buyers pocket or side of the transaction.

Bottom-Line Statement: That means it does not matter which agent from which company you use to show the house or to represent you on the contract as far as money is concerned (#9 goes into more detail).

9. To give the Buyers Agent an incentive to “bring” his/her buyer to the listing [to show it], the Listing Agent (through the MLS) has posted a written arrangement on the MLS listing sheet for a commission split to take place. The standard arrangement on homes is:

The Listing realtor lists for 6% and agrees to split 3% of it with the Buyers agent if that agent “brings” the buyer, while retaining 3% for his/her work on the Listing portion.

By the way, all companies can participate and “bring” the Buyer to obtain the 3% commission.

To use a different scenario: If the Buyer had called the Listing Agent and used him instead of the Selling Agent, then the Listing Agent would have received the credit for “bringing” the Buyer and therefore, the commission that was held out for that agent. So, instead of the Listing Agent making the standard 3% (on the Listing side) he now receives an additional 3% for a total of 6% on the deal.

Bottom-Line Statement: The Buyer will always pay the same, whether or not he/she had called (and used) the realtor off the sign in the yard or if they had used his/her own realtor. There is no difference in bottom-line cost to the Buyer.

Utica, New York Home For Sale

rediscovercny — Sun, 26 Jun 2011 20:23:09 +0000

Great Pool Area for Entertaining

Sprawling 2200 s.f Ranch

If you are looking for a great house in Utica, NY you have found it!This 4 bedroom and 2 bath stucco one story sprawling ranch with 2230 square feet is waiting for you. This home sits on 4 lots and is adjacent to a quiet park, giving you gorgeous park-like setting views and extra privacy you will love.

As you enter the house through an enclosed screen porch you will see beautiful double closet doors in the tiled entry hall. To your left you enter the kitchen and follows through to a large eat-in kitchen area flowing into a well designed open floor plan with a formal dining room/family room combo. The family room has a stunning stone fireplace… to warm you on cold winter nights. Large windows provide spectacular views of your meticulous landscaped yard with a park-like setting to watch the abundance of wildlife passing through. At the end of the hallway you find 2 nice sized bedrooms and a tiled full bathroom with double sinks.

As you enter the house through the enclosed porch and turn to your right, you step down into the living room that leads you to a nice sized full bathroom and 2 bedrooms. This area has the possibility to be separate living quarters for an in-law or teen suite with separate heating and air conditioning units and a separate entrance.

From the back of this home you have a separate entrance to the pool. This large tiled room has a 1/2 bath, laundry area, and built-in bar for you and your guests. While enjoying your pool and the entertaining area that surrounds it, take in the privacy and luscious landscape. There is also a nice sized shed for all your tools and pool toys.

And then you have the basement where you can use your creativity to add extra square footage to your living space. With a fireplace in the recreation/family room, bar area, additional bedrooms and a plumed bathroom ready for you to finish!

This is going to be a great place to call home. Call Tiffany anytime for additional information or to schedule a preview at (315) 941-3868.

Interior Features:
Appliances – Basement – Central Air – Den / Office – Formal Dining Room – Family Room – Fireplace – Hardwood Floors – Laundry Room – 1/2 Bath for Pool – Main Floor Bathroom – Main Floor Bedrooms – Pantry and so much more!

CLICK HERE for additional photos and property information!

Foothills of the Adirondacks-Home For Sale

rediscovercny — Fri, 25 Mar 2011 18:15:26 +0000

MLS 1100731.

Village of Whitesboro, NY-Home For Sale

rediscovercny — Fri, 25 Mar 2011 18:00:36 +0000

MLS 1100647.

Utica, NY Investment Properties For Sale

rediscovercny — Fri, 25 Feb 2011 22:09:36 +0000

Investors needed for Investment Properties in Utica, NY 13501

Click on the flyer button below to view a sample of properties available and how you can list your property with me today!

Are you moving to Frankfort, NY

rediscovercny — Fri, 18 Feb 2011 20:23:16 +0000

Thinking of moving to our beautiful area of Frankfort, NY?

Are you considering purchasing a home?

Have you contacted a buyer’s agent to assist you in locating your perfect home?

I am a licensed real estate agent associated with Century 21 A Yankee Trader. As a professional real estate agent, I am committed to providing you with the service that meets your needs. I will listen to your goals when locating the perfect home for you. I will negotiate the best possible price and the most favorable terms in the shortest time. I will work to put a purchase contract together that will stay together. And when purchasing your perfect home, there is no cost to you for my service. All real estate commissions are paid for by the seller.

If you would like more information, please contact:

Tiffany Accattato with Century 21 A Yankee Trader

Agent Direct: (315) 941-3868

Email: bellacasa@rediscovercny.com

Areas of service include: Barneveld, Clinton, Frankfort, Herkimer, Holland Patent, Ilion, Marcy, New Hartford, NY Mills, Oriskany, Poland, Sauquoit, Utica, Westmoreland, Whitesboro, Whitestown

Watch our video to preview the perfect Frankfort, NY home for you. Turn up the volume and enjoy the music.

Ask your Utica and New Hartford New York Real Estate Agent to represent you as a Buyer’s Agent – I dare you!

rediscovercny — Mon, 31 Jan 2011 00:38:34 +0000

I’ve practiced as a Buyers’ Agent since I began my real estate career in 2006. The most important value a real estate agent can bring to a transaction is that of a fiduciary. When working as a Buyers’ Agent, your potential clients come in response to searching for a Buyer’s Agent. They know and understand fiduciary responsibilities and want an agent who truly is on their side and whose primary goal is the clients best interest. Buyers’ Agency means something to these clients and it means something to me.

This is the value I add to my services and what sets me apart from the ‘traditional agents’ out there.

News From The New York State Association of Realtors

rediscovercny — Fri, 31 Dec 2010 22:39:20 +0000

RealtyTrac: New York State total foreclosure filings decrease

In its U.S. Foreclosure Market Report for December 2010, which reports default notices, scheduled auctions and bank repossessions in the month of November, RealtyTrac Inc. reported New York State had 2,779 total foreclosures, a decrease of 27.37 percent from October 2010 and a decrease of 36.56 percent from November 2009.

New York State ranked number 46 of all 50 states for monthly total foreclosure filings with one in every 2,871 properties receiving a foreclosure filing.

Foreclosure filings were reported nationally on 262,339 U.S. properties in November, a decrease of 21.02 percent from October 2010 and a decrease of 14.44 percent from year-ago totals. Nationally, one in every 492 properties received a foreclosure filing.

To read the entire RealtyTrac press release, click here.

Here are some of the closest ski areas in Central New York

rediscovercny — Thu, 30 Dec 2010 00:38:30 +0000

Woods Valley Ski Area, Route 46, Westernville, NY 315-827-4721 www.woodsvalleyskiarea.com

Woods Valley Ski Area

Val Bialas Sports Center, Memorial Parkway, Utica, NY, 315-266-0453, utica.skibigval.com

McCauley Mountain Ski Area, Old Forge, NY 315-369-3225, www.mccauleyny.com

Snow Ridge Ski Resort, Route 26, Turin, NY 315-348-8456, www.snowridge.com

Why not buy a new home for Christmas!

rediscovercny — Wed, 08 Dec 2010 21:03:37 +0000

December buying advice: A new home for the holidays?

Even if the weather is bleak, your home buying prospects may not be.

Here are some of the reasons it might be a good time to buy.

A new home for the holidays?
The weather outside may be frightful, but that doesn’t mean home shopping at this busy time has to be. True, fewer homes are on the market around the holidays as sellers take some time off to enjoy the season with their family. And fewer open houses are held during the often freezing, messy weather.

But shopping for a home at this overlooked time of year has a few perks, says Dorcas Helfant-Browning, a past president of the National Association of Realtors.

Sellers who keep their homes on the market at this time are very motivated.
You have less competition from other buyers than you would in the spring.
Lenders, agents and others have more time to work with you.
Interest rates are typically lower than in the spring.

And best of all, although moving during the dead of winter might not be so pleasant, relaxing on the patio of your completely unpacked home when the weather warms up is priceless.

“Get it over with when there’s nothing else to do and then enjoy your spring and summer,” Helfant-Browning says.