Saving that Real Estate Commission

Everyone likes to save money. So how can you save money in a real estate transaction? Find that new "e-Realtor" with a discounted commission? Or, better yet, don't even use a Realtor at all? A FSBO (For Sale by Owner) is bound to save you a bundle. Right?

The correct answers are No, No and No. Sorry, the old saying "There is no free lunch" is alive and well in real estate. Let's take a look at discounts and FSBO's and find out a few of the reasons why you might want to not go that way.

Discounts: "E-Realtors" who will rebate you something at closing seem to be the latest rage. You can even use their search engines and e-mail updates to find the home you want. It sounds good but did you know: It might be a problem seeing more than a few homes. It might be hard to schedule appointments. It might be difficult to get answers, advice and counsel. And your agent might be new and inexperienced. Why all these problems? The "e-Realtors" are all on a modest salary, not commission. They have little incentive to "go the extra mile" to get the job done for you. In order to make money (after paying the rebates) they need to deal in large volumes of customers, not in quality service, assistance and details. So, is a small rebate worth the chance of less than adequate representation? Probably not.

FSBO's: The biggest problem with a For Sale by Owner is that both buyer and seller think that they will be saving money by avoiding a Realtor's guidance, expertise and cost. Unfortunately, somebody usually gets burned. Lack of knowledge and information combined with greed, leads sellers of most FSBO homes to overprice them. Worse; buyers tend to be uninformed, unprepared and unqualified. For the seller this can result in the home not selling at all or an unqualified buyer trying to buy it (unsuccessfully) and wasting the seller's time. For the buyer it can lead to paying too much or buying a home with one or more unrecognized problems. In either case someone loses. Do you want to be that someone in the hope of "saving" a few dollars? Probably not.

So, if discounts and FSBO's don't work, how do you save money in real estate? The best way is to find an honest, experienced Realtor and follow her/ his sage advice and guidance. You will save in the long run because that Realtor will earn his commission the old fashion way: by working long and hard for it.

this weeks Q & A:

This week’s question and answer:

Question by Daan de Vries:
Which home improvements can I do as a seller to increase the value of my home?

Answer by Miriam Engeln:

There are a several general home improvements and upgrades that will typically net a homeowner the most return, especially when it comes to the kitchen, bathrooms and master bedroom. However, the right answerer to this question, is of course dependent on the specific property.

Clean it up! Clean, clean, clean! Wash windows, doors, floors, everything.
Next is de-clutter! Get rid of all those dust collectors all over the house. Pack up those personal photos and thin out the furniture so you can have a natural flow from one room to the other without the maze affect. The potential buyers can now actually see the house and that is what you want because that is what you are selling.

Now if you really want to make a difference, finish up all those unfinished projects around the house that need to be done inside and out. New buyers do not want to see work they are going to have to do. They would rather buy the other house for the same price that needs no work.
Also if your walls haven't been painted in a while, then that would be a really good investment. It also helps the home to appear new and fresh.

The amount is endless but what improvements will bring the best return, or any return at all. This depends greatly on the home in question and the current values in the neighborhood.

Email your real estate questions to email address: mdengeln@yahoo.com and a selection of your questions will be answered each Saturday in the newspaper Aruba Daily.

Real Estate Miriam answers all

This week’s question by Enrique Hernandez:

“How easy or difficult is it for a new company to enter the vacation rental/real estate industry on Aruba?”

Here the answer by Miriam Engeln:

To start a new business in Aruba the following; in case the owner was not born in Aruba but is considered local, first she/he should apply for a business license at the Department of Economic Affairs. When there is more than one person involved, the partners are required to register a general partnership. A sole proprietorship is a legal form with only one proprietor, who is personally liable for all of the business’ actions.

The sole proprietorship is reserved for locals (Arubans) or people who are considered local. When the owner of the sole proprietorship is born in Aruba with the Dutch nationality and at least 18 of age, she/he is exempted from the business license requirement and can make an appointment to register the sole proprietorship at the Aruba Chamber. For more information please visit the websites: http://www.arubachamber.com/ and/or http://www.arubaeconomicaffairs.aw/

See more at: http://aruba-daily.com/newspaper/real-estate-miriam-answers-all-16/#sthash.2i9HqoAl.dpuf

HGTV interview with me on Aruba

see link:
http://www.frontdoor.com/places/buying-a-vacation-home-in-Aruba

Real Estate Miriam answers all

Ask Real Estate expert Miriam Engeln anything about properties in ARUBA, such as how to invest in real estate, how to maximize occupancy in vacation properties, rental income tips, constructing a house, home exchange, house flipping, retire-/ moving to ARUBA and so on.

This week’s questions and answers:

Enrique Hernandez:  How easy or difficult is it for a new company to enter the vacation rental/real estate industry on Aruba?

 

Miriam Engeln: To start a new business in Aruba the following; in case the owner was not born in Aruba but is considered local, first she/he should apply for a business license at the Department of Economic Affairs. When there is more than one person involved, the partners are required to register a general partnership. A sole proprietorship is a legal form with only one proprietor, who is personally liable for all of the business’ actions.

The sole proprietorship is reserved for locals (Arubans) or people who are considered local. When the owner of the sole proprietorship is born in Aruba with the Dutch nationality and at least 18 of age, she/he is exempted from the business license requirement and can make an appointment to register the sole proprietorship at the Aruba Chamber. For more information please visit the websites: http://www.arubachamber.com/

And/or http://www.arubaeconomicaffairs.aw/

Email your real estate questions to email address; mdengeln@yahoo.com and a selection of your questions will be answered each Saturday in this newspaper Aruba Daily.

Miriam has been writing about and selling Real Estate in ARUBA, since the year 2004 on this lovely sunny island. 

Aruba villa

great website with links to vacation rental villa's, news, restaurants and more about Aruba;
http://www.aruba-villa.nl/1569/vakantie.html

Real Estate Miriam answers all.

Ask Real Estate expert Miriam Engeln anything about properties in ARUBA, such as how to invest in real estate, how to maximize occupancy in vacation properties, rental income tips, constructing a house, home exchange, house flipping, retire-/ moving to ARUBA and so on.



This week’s questions and answers:

Susan Jones; I was told I can buy a property built on lease land, is that true?

Miriam; All non-residents can buy land or a house in Aruba going through the same process as the Aruban residents.

They can buy a home on property land as well as on lease land. Besides property land you can buy a house which is built on lease land. This land is owned by the Land of Aruba and the lease is for 60 years. A yearly fee is paid for these lease rights. After the 60 years, the lease period will automatically be extended with another 60 years. The only thing that might happen when the lease period is extended is an increase in the yearly fee. Most of the houses situated in North (Palm Beach, Malmok) are built on lease land. Many non-residents have bought there and will keep buying in those areas although the homes are built on lease land!

The reason they keep buying houses in those areas is because of their locations. These areas are close to the spa’s, golf course, tennis courts and shopping malls. Another huge advantage is the distance to the ocean.

see quality tours Aruba

"new kid on the block" Ricardo de Vries offers great tours on the island, since the spring time of this year. Please check out his website; http://seequalitytoursaruba.com/



Offered are half day tours, full day tours, and even FREE tours for celebrities!!!!!
Prices for not famous people from US$75,-

Funny Real Estate Quotes

see link; Funny Real Estate Quotes