Why The One Percent Real Estate Service Model Works Today

one percent realty structure

Prior to the Internet, purchasers would hop into the back seat of a realtor’s automobile and go on a tour of homes, which is not the way it takes place any longer.

Nowadays with the Internet, consumers are empowered and in a lot more control of their brand-new house search. Over 85% of Canadians who look for a home begin their search on the Internet. Whether buyers are trying to find homes themselves on websites, or being instantly emailed properties directly from a realtor, or other home hunting activities, nowadays purchaser’s frequently referred to as much or more about their particular market and the homes for sale in it as their realtor does.

This is not to slight other real estate agents. However the buyer essentially has access to MLS® and can examine the web multiple times a day, and their agent will not be doing that, no matter who they are. These changes in innovation and purchaser behaviour created the opportunity for the concept of One Percent Realty to thrive.

When a buyer sees a home that meets their criteria and is their dream house they do not ask “Just how much commission is being paid here.” It’s not of concern to the possible buyer. The Buyer is worried about the number of bedrooms, restrooms, area, schools, and obviously the price. Our listings at One Percent Realty Regina are displayed all over that all the other listings are. If you are a buyer searching in a provided area in a provided rate variety (which is generally all of them), then you will wish to see every listing in your budget range. With the buyer now in the chauffeur’s seat as a much more sophisticated customer, the realty marketplace had changed forever. The fox is in the hen home.

home for sale

How Does The Commission Work?

The ‘$990’ covers the common disbursement costs to marketing and selling your home. $3,000 of that $6,990 is offered to the real estate representative that is working for the buyer.

Thank you to to Justin Hennessey in Maple Ridge, BC for the guest post.

All About Realtors: Educating Buyers & More


Realtors are constantly looking for strategies to educate their buyers. In this respect, the Realtors appear to be professional. A skilled and expert realtor can create the best price for you.

Realtors help you in making a suitable offer. Now there are several available realtors in your town, and all them promise to reveal their customers the very best possible homes. As soon as you have asked the Realtors you are wanting to hire; you are going to have a good idea of what it’s possible to anticipate. Additionally, there are Realtors that are a newcomer to the region and might not have the crucial connections it would take for you to receive the service you demand.

For people who use realtors to purchase or sell a house, the transaction appears fairly seamless. Before purchasing a house, home-seekers are anticipating that Realtors may lower the property prices because of the general slump in sales. Even though they follow a higher level of ethics, there are still new Realtors. As a pro inside this area, your selected realtor must understand how to detect the most recent trends in this business. You should discover some of the well-known realtors of where you will purchase a home or sell one.

If you follow these suggestions, you could have a good possibility of obtaining a very good realtor and an increased chance of obtaining a fair price for your home. Realtors do not need to be expensive or complicated. It is critical; one ought to think from the viewpoint of Realtors and dwell upon the finest real estate which aids you in availing the ideal investment.

Real Estate Agents are part of the actual estate market. You approach a true estate agent to be your purchaser’s agent and let them know which you can’t be eligible for a mortgage right now but you would like to purchase with a lease with a choice to buy. Well, you are in need of a realtor. Realtors will probably charge unique fees. You can get in touch with independent agents or broking firms to acquire mortgage leads.

“The sellers are the largest losers from the real estate agents tricks,” says One Percent Realty Maple Ridge | Save With John and Dave. “The buyers offer any information the lender wants and sign the correct paperwork.” “In other words, he will likely include a series of contingencies based on the use of the commercial property and how it can and cannot be used.” With many men and women around, your possible buyer is not as likely to feel he is being subjected to high-pressure tactics. It cost them nothing and might result in a professional buyer.

After the realtor arrives to realize your residence, he points out all of the excellent features of your premises, and names an impressive price Realtors know about the optimal/optimally lending institutions in the region, and the very best people to set you into direct connection with.

The realtors have this access which gives a higher degree of detailed information concerning the listings, where the normal visitor only gets basic details. Again, you’re working long-term with realtors, not simply asking for free financial loans. Realtors possess the keys of the properties you’re interested in, they have enough time to take you go to those places, and they possess all the info you’re certainly going to should rely your decision on. The really excellent Realtors are very few in number.

Regardless of what type of reasons you’ve got, selling and buying of a property isn’t a little event. Gather as much information as possible concerning the property you’re interested in buying. Even if it’s the case that the property isn’t in the very best shape, pictures will enable the buyers to be aware of what the property does offer. Also, look at properties much like the one that you intend to purchase. Purchasing a property may be one of the greatest investments of anybody’s life.

Six Top Home Financing Mortgage Loan Tips

There are people that have no idea how to get a mortgage loan. They may hear interest rates drop and decide they want to purchase a home. Getting a home loan is much harder than getting a car loan or renting a home. There are a lot more factors that go into determining if you qualify for a mortgage. It is essential to know how to get a mortgage, so there is no disappointment when applying for this type of loan.

Getting A Mortgage Approved

Buying a home is a stressful process and being unpaired will add to the stress. It is best to get as much education as possible when applying for a mortgage.

1. Credit Score

It only takes a few seconds to find out your credit score. Some home buyers do not know their score when they apply for a mortgage. They think they have a score that can qualify them. No one thinks that they could have been a victim of identity theft. A low credit score and fraud can disqualify a person from getting a mortgage.

A credit score and credit activity have a significant impact on approval rates. According to information from the Home Loan Lending Center, a person must have a minimum credit score of 680 or 620 if they are going for an FHA loan. If the score is below this lenders will deny the mortgage application.

Other things can affect credit score including missed payments, paying the bills late, and other negative credit information. Be sure to pay all bills on time, lower debt levels, and keep an eye on the credit report. Fix any errors before applying for a mortgage.

2. Save Cash

Requirements for a mortgage can change, but it will cost some money upfront. If you have nothing to put down on the home your mortgage will be denied. Once upon a time lenders would approve a mortgage with no money down. Now they all require a down payment.

Down payments will vary based on the loan and the lender. Each lender has their requirements, but on average the down payment will need to be at least 3.5 percent of the value of the home down. Try to put down a higher percentage. Try to put at least 20 percent down. You will not need to get private mortgage insurance then. Paying this PMI will increase your monthly payments.

Down payments are not the only expense to keep in mind. There are also closing costs, home inspections, appraisal fees, title search, credit report fees, home financing fees, application fees, and other expenses. The closing cost ranges from 3 to 5 percent of the mortgage balance. This must be paid upon signing for the home.

3. Keep Your Job

There have been people that left their job just a couple days before the home closing. It does not turn out well. They were not able to close on the home. Changes in employment or changes in income can stop the loan process. Lenders use the mortgage application for approval. Leaving your job will make them reevaluate your application, and you may no longer qualify.

4. Manage Debt

While you may not have to have your credit cards entirely paid off the less money you owe them, the better shape you are in. The debts you have determined how much money the lender will give you and even if you can qualify for a mortgage. Lenders look at a debt to income ratio. If you have a significant amount of debt, they can turn you down. You entire monthly payments to all debt including the mortgage cannot be more than 36 percent of your gross monthly income. The less debt you have will also give you a better rate.

Avoid adding to your debt while getting a mortgage. Your credit will be rechecked before the closing, and if you have more debt, this can affect the process. Do not make any big purchases until after you close on the home. This includes getting a newer car, home appliances, and cosigning on loan for others.

5. Mortgage Preapproval

It is wise to get pre-approved before you look at homes. You will know the amount of money you can spend on the home. You will also avoid looking at homes that you are not able to afford. No one wants to find their dream home and find out it is way above their price range.

Preapproval is a simple process. Contact a mortgage lender and provide them with your information including financial information. They will tell you how much you can afford to spend, the interest rate on loan, and similar information. Keep a copy of the letter for your records. Funds should be available once your bid has been accepted. While this sounds simple, it does not always work this way.

6. Know Your Price Range

Many people look at homes they cannot afford. After getting a preapproval letter do not look at more expensive homes. These letters will determine how much you can afford on your credit report and income. They do not take into account other monthly expenses such as daycare, insurance, food, car payments, and similar thing. Keep these costs in mind when looking at a home. You should not purchase a home with a mortgage that exceeds these expenses.

Final Thoughts

If you are not able to qualify for a mortgage at this time, do not get discouraged. Use it as a way to motivate you to pay down debt and get in control of your finances. There are many people out there with credit problems. People have recovered from bankruptcy, foreclosures, car repossession, and other problems and eventually, they were able to purchase a home. Develop a financial plan that you will be able to stick with via DLC Origin Mortgage.

It may take some time to reach your dream of owning a home. If you are working towards this goal think about the steps you have taken and what else you need to do to own a home.

Understanding Different Types of Loans

Today’s homebuyer has more financing options than have ever been available before. From traditional mortgages to adjustable-rate and hybrid loans, there are financing packages designed to meet the needs of virtually anyone.

While the different choices may seem overwhelming at first, the overall goal is really quite simple: you want to find a loan that fits both your current financial situation and your future plans. Though this article discusses some of the more common loan types, you should spend time talking with different lenders before deciding on the right loan for your situation.

General categories of loans
Most loans fall into three major categories: fixed-rate, adjustable-rate, and hybrid loans that combine features of both.

  • Fixed-rate mortgages
    As the name implies, a fixed-rate mortgage carries the same interest rate for the life of the loan. Traditionally, fixed-rate mortgages have been the most popular choice among homeowners, because the fixed monthly payment is easy to plan and budget for, and can help protect against inflation. Fixed-rate mortgages are most common in 30-year and 15-year terms, but recently more lenders have begun offering 20-year and 40-year loans.
  • Adjustable-rate mortgages (ARM)
    Adjustable-rate mortgages differ from fixed-rate mortgages in that the interest rate and monthly payment can change over the life of the loan. This is because the interest rate for an ARM is tied to an index (such as Treasury Securities) that may rise or fall over time. In order to protect against dramatic increases in the rate, ARM loans usually have caps that limit the rate from rising above a certain amount between adjustments (i.e. no more than 2 percent a year), as well as a ceiling on how much the rate can go up during the life of the loan (i.e. no more than 6 percent). With these protections and low introductory rates, ARM loans have become the most widely accepted alternative to fixed-rate mortgages.
  • Hybrid loans
    Hybrid loans combine features of both fixed-rate and adjustable-rate mortgages. Typically, a hybrid loan may start with a fixed-rate for a certain length of time, and then later convert to an adjustable-rate mortgage. However, be sure to check with your lender and find out how much the rate may increase after the conversion, as some hybrid loans do not have interest rate caps for the first adjustment period.

Other hybrid loans may start with a fixed interest rate for several years, and then later change to another (usually higher) fixed interest rate for the remainder of the loan term. Lenders frequently charge a lower introductory interest rate for hybrid loans vs. a traditional fixed-rate mortgage, which makes hybrid loans attractive to homeowners who desire the stability of a fixed-rate, but only plan to stay in their properties for a short time.

Balloon payments
A balloon payment refers to a loan that has a large, final payment due at the end of the loan. For example, there are currently fixed-rate loans which allow homeowners to make payments based on a 30-year loan, even though the entire balance of the loan may be due (the balloon payment) after 7 years. As with some hybrid loans, balloon loans may be attractive to homeowners who do not plan to stay in their house more than a short period of time.

Time as a factor in your loan choice
As has been discussed, the length of time you plan to own a property may have a strong influence on the type of loan you choose. For example, if you plan to stay in a home for 10 years or longer, a traditional fixed-rate mortgage may be your best bet. But if you plan on owning a home for a very short period (5 years or less), then the low introductory rate of an adjustable-rate mortgage may make the most financial sense. In general, ARMs have the lowest introductory interest rates, followed by hybrid loans, and then traditional fixed-rate mortgages.

FHA and VA loans
U.S. government loan programs such as those of the Federal Housing Authority (FHA) and Department of Veterans Affairs (VA) are designed to promote home ownership for people who might not otherwise be able to qualify for a conventional loan. Both FHA and VA loans have lower qualifying ratios than conventional loans, and often require smaller or no down payments.

Bear in mind, however, that FHA and VA loans are not issued by the government; rather, the loans are made by private lenders. FHA loans are insured to the actual lender and VA loans are guaranteed in case the borrower defaults. Remember too, that while any U.S. citizen may apply for a FHA loan, VA loans are only available to veterans or their spouses and certain government employees.

Conventional loans
A conventional loan is simply a loan offered by a traditional private lender. They may be fixed-rate, adjustable, hybrid or other types. While conventional loans may be harder to qualify for than government-backed loans, they often require less paperwork and typically do not have a maximum allowable amount.