Real Estate Tips

Bob Rich, the President and Founder of The Rich Company established The Rich Company in 1972. He has grown the company to the largest real estate company in eastern North Carolina. Bob's philosophy is that service and reliability come first in this business. Go the extra mile for your client, work harder, do your homework, and good things will happen.

Tip #1- MULITPLE LISTING

If you want your house to be shown by as many agents as possible (increasing the likelihood of a quicker sale), the way to go is through the multiple listing (MLS). Offices that belong to a MLS share listings with other Realtors who also contribute to multiple listings. It is customarily a function of the local real estate board. Each member of the service is promptly furnished with a full description and picture of each property listed with any member. Each is furnished a weekly, or bi-weekly, a list of properties sold. Your primary agent is entitled to a commission whether he or she sells it. The commission is split between the listing and selling agent when your house is sold by someone other than the listing agent. You pay only one commission. Multiple listing has advantages. It places your property into the selling hands of hundreds of agents, but you still have the one agent whom you've employed who is responsible directly to you.

Tip #2- THE OLDER BUYER

Today, 25% of our population is 55 or older and this segment is rapidly increasing. Buying and selling homes for people in the age group has its particular problems.

Older people have more at stake in their housing moves. Their income will increase only slightly--- if at all. They can't afford to make costly mistakes. For the retiree, their most important decision is whether to move at all. It's not easy to leave the old neighborhoods or the house filled with memories. However, houses do become too large, too costly to maintain, or require too much work. Also, there is the desire for change in lifestyle, a more comfortable climate or even the need for personal safety or care.

The biggest question of all is, "Where can I move to?" This is no longer a major roadblock. Our agents work with many older adults and have a plethora or options that were never available in the past. If information is needed on the subject, give The Rich Company a call.

Tip #3-PURCHASE OFFER

After you have narrowed your home search down to the one you want, your next step as a buyer is to make an offer to purchase. Along with this written offer will be a certain amount of money to show that you mean business. Earnest money, as it is called, is evidence of good faith. It may amount to as little as $500.00 or as much as 10% of the offered purchase price depending upon local custom. Although any amount of money would make a legal offer, frivolous offers are seldom acknowledged by the seller.
This is serious business, so be sure it's what you want before signing on the dotted lone. Once it's signed by both parties, the buyer cannot change his mind unless he wants to sacrifice his earnest money. The document is also just as binding to the seller. Even if he gets a better offer after signing the contract and accepting the earnest money, he cannot stop the transaction from going through if the original buyer carries out his obligations.

Contact The Rich Company...
We will answer your real estate questions.
800-849-2456