Connect2Agent - Home Buyers and Sellers

Real estate is a great profession for single moms

As the media continues to infiltrate the homes of prospective home buyers and sellers with negative words--of the current state of the market and the real estate professionals who work it--and in light of a recent post I read that helped to educate those who feel uncomfortable admitting to their profession, I feel the need to say, "Hey, real estate is a great profession for single moms."

In what other field can you work where you help fulfill people's dreams? In what other field is the cap on your income unlimited, but instead the sky is the limit? In what other business can you not only learn new things, daily, about your field, but also about other industries as well? Hmm ... I can't think of one off the top of my head, but I am biased.

I am biased, because I am a single mom of 2 school-aged children and a 2 1/2-year-old, and I have worked in the real estate industry for the past 15 1/2 years. I have managed to work from home for the past 7 years while raising my children, and this is all because I work in the real estate industry.

I have met other women who are single moms and chose this industry because of the income potential, the flexibility and the excitement of learning new things every day. While the market has been tougher the past few years, they do not regret their choice and wouldn't change their career path.

I have spoken with real estate agent teams who consist of single moms--agents who are at the top of their game and compete and win business from other high-caliber agents in their local real estate markets. I have yet to hear one say they have made a mistake in their career path and wish they had chosen something else.

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If you enjoyed this post, than you might want to read:

• How do you find a real estate professional to work with?
• Do the right thing: Don't make your real estate agent work for free

Posted by Rebecca D. Levinson

Shirley Boulter Davis gives her advice for first-time home buyers in Dallas, Texas

As a first-time home buyer, finances are probably one of your biggest considerations when you go to purchase a house.

Do you know if the house you want to purchase is in your budget?

I asked Shirley Boulter Davis, a Connect2Agent member in Dallas, Texas, to share her experiences and knowledge about what a first-time home buyer needs to consider before purchasing a house. 

Davis wrote an article for first-time home buyers titled, "How Much Home Can I Afford?" which lends advice to home buyers when they are crunching the numbers for their real estate purchase. I will be sharing this article in two parts. The second part will be released next week.   

How Much House Can I Afford? by Shirley Boulter Davis

As a professional in the real estate industry since 1979, I have discovered one of the most productive questions to ask a new client is, "Have you met with a lender?"

Knowing how much of a mortgage loan you can qualify for is one of the first steps in the home buying process. Mortgage lenders evaluate several things when qualifying a borrower: credit history, income-to-debt ratio, money for down payment and reserves, and job stability. 

In general, the lender is attempting to determine the borrower's ability to repay the loan. A loan officer has the ability to determine how much you can borrow and what type of program will best meet your financial needs.

How to define your real estate agent's expertise

When you are choosing a real estate agent is it important that the agent is an expert in the neighborhoods you are interested in buying/selling a house? 

Is it important to you whether the agent specializes in the type of property you are looking to buy/sell such as a horse property, a high rise condo, or a historic building?

I spoke with three Connect2Agent members and asked them, "Is it important when a buyer or seller is choosing a real estate agent for the agent to be a neighborhood expert or have a niche market they specialize in?"  Here is their response:

Kathy Razzano of Tampa, Florida

Home buyers and sellers should look for an agent who is not only knowledgable about an area but has credentials.  These credentials should be in the form of national designations which an agent procures by taking educational classes, Razzano informed me.  She said that she holds the CRS (Certified Residential Specialist) designation, which required her to take 5 courses and have $1 million dollars in sales.

Homebuyers and Sellers: What your real estate commission dollars pay for.

If you are a homebuyer or seller in the market to find a real estate agent you might be tempted to look at alternatives to a full service real estate agent who would charge a "full service commission".

According to the Department of Justice, "The average commission has remained relatively steady between 5.0 and 5.5 percent."  What types of services as a homebuyer or seller can you expect for this average commission?  I asked three Connect2Agent members this question.  Here is their response:

Mary Jo Nealen of Tampa Florida

Nealen said that a full service real estate agent will market the house diligently throughout the area for a homeseller.  She said that the agent would do a market analysis (CMA) on the house to help determine the listing price by giving the seller's information about what the other houses in the area are selling for.