Real Estate Agents: Commissions & Referrals

/10 Comments/in /by

Real estate agents are highly knowledgeable when it comes to buying or selling a home. From pricing a home to helping with closing, agents do a lot. Most everyone knows that they take a commission — usually 6% — out of a home’s final sale.

But unless you’re in the real estate biz, what many people don’t know is how the referral process for real estate agents works. Find out how referrals occur, and see how you can benefit like an agent in your own home sale.

Does every real estate agent get the same commission?

No. While 6% is the average, it varies by location.

Additionally, agents don’t get the full 6%. That percentage is split between the buyer’s agent and the seller’s agent and their respective brokers, so real estate agents really only get 3% of a sale. If there was a referral, they get even less.

What are realtor referral fees?

Take a look at the following example:

Ben lives in Maine but wants to buy a house in Arizona. He doesn’t know anyone out there, so he contacts his real estate agent, Mary, in Maine to see if she knows anyone. Mary agrees to help Ben find an agent out there.

Mary may or may not know anyone, but she’s going to connect with an agent (such as through LinkedIn) in Arizona all the same. She does this because she wants a referral fee — a 25% kickback of the agent’s commission for connecting the Arizona agent with Ben.

Are realtor referral fees guaranteed?

Yes and no. With traditional referrals, a real estate agent only pays a quarter of their commission if there was a sale. They don’t owe the referring agent anything if the sale doesn’t go through. 

However, sites like Zillow charge a flat fee for leads, even if those leads don’t go anywhere for the agent. Real estate agents often spend thousands for leads through sites like these, as unreliable as they can be.

Who pays these referral fees?

Technically, the seller pays them. The seller is responsible for paying all agents involved in the sale and the funds come out of their home sale earnings. But the agent who got the referral gives 25% of their commission to the person who referred them.

Are referrals common?

Not as much as you’d think. As illustrious as referring an agent and getting paid without having to do much legwork seems, it’s typically not enough money to pay the bills. 

On a $250k house, an agent: 

  • Without a referral will make $7500. 
  • With a referral will make $5625.
  • Who is referring another agent will make $1875.

It should be noted that this money is before the agents need to split it with their brokers so their take-home pay is even less.

Most agents are more concerned about finding their own clients than referring someone — they make significantly more money doing so. However, if the opportunity to refer an agent comes along, it’s definitely a perk.

Introducing Cashifyd: A Referral Alternative For All

At RealtyHive, we always strive to better the real estate industry, for agents, buyers, and sellers alike. We’re proud to introduce Cashifyd, an app and real estate referral program that connects agents with buyers and sellers, and saves everyone money in the process. Here are the benefits:

Agents only pay when they close.

Unlike Zillow, real estate agents using Cashifyd only pay for referrals when a sale happens. They’ll still contribute 25% of their commission, but it’s no different than a regular sale. If an agent has a lead that doesn’t go through, they won’t have to pay.

Sellers get money back.

This is the biggest reason why Cashifyd is one of a kind. Without Cashifyd, sellers have to fork over money to cover agents’ commissions, including the 25% finder’s fee. By using Cashifyd, sellers are still paying for the agents’ commissions but also receive some of that money back.

Once the sale goes through, sellers get 80% of that 25% back. We know, that’s a lot of numbers and percentages. Put simply, sellers will spend less on commissions and get cash back for using Cashifyd.

Even buyers can get paid.

Buyers who sign up for Cashifyd and are looking for agents are also connecting the real estate dots, so why shouldn’t they get paid, too? With Cashifyd, buyers have the opportunity to both select the agent of their choosing, and any property they like — it doesn’t have to be one where the seller is using Cashifyd. Plus, they’ll still receive cash back when they close.

Can buyers or sellers come to Cashifyd with an agent in mind?

A buyer or seller has to use Cashifyd before signing with an agent. That’s the only way they’ll qualify and the only way they’ll get paid back.

Will this negatively impact agents?

Cashifyd is designed to help real estate agents! Instead of paying outrageous fees for unreliable leads, Cashifyd helps agents build their clientele while saving money.

Stay tuned for the Cashifyd launch and get ready to save. Until the app goes live, we won’t blame you for starting to shop around for your dream house. Work with RealtyHive for buying or selling your home today!

What Makes a Good Investment Property?

/6 Comments/in , /by

No matter the route you go for real estate investing — such as fixing up your own home, flipping, or renting out a home or commercial property — you want to make sure you’re choosing the right property. These tips can help your income property bring you ROI instead of regret.

The necessary changes are relatively minor.

Some real estate investors pass on home inspections in favor of a faster closing date. These investors typically have an experienced team of contractors who complete renovations quickly. Time is of the essence with investment properties, because the longer you’re holding onto a vacant home, the longer it will take for you to generate a profit.

This is true for flipping or renting out a property, though less so if you’re renovating for your own home. That being said, in nearly every instance you want a property that doesn’t require massive changes. Foundation problems, mold, or other damages will massively eat away at both time and your savings.

The location is a selling point.

Investment property success lies heavily in where the property is located.

  • For most commercial properties, lots of traffic and visibility is crucial. This isn’t always the case if your commercial property is a huge space, such as for corporate offices. But for local shops, you need a location that requires little to no commuting time for your clientele.
  • When buying your first rental property, consider the demographic you’re targeting. Near a college town? Look for a house that’s on-campus or close to it. Single-family home? Suburbs or just outside the hustle and bustle of a city are great locations.
  • If wanting to renovate and sell your own home later on, you should pick a location that’s on the up and up. It’s not ideally located right now, but it will be in 5-15 years. Smaller cities or cities that are remote (such as places out West) are a good place to look.

The property has potential.

It’s OK if your potential rental investment is a carpet nightmare out of the ‘70s. But qualities like hardwood floors (beneath all that carpet), high ceilings, and killer views make this a property with potential. Again, you don’t want a money pit for an income property, but the underlying beauty can turn out incredibly valuable.

Similarly, if your property is in one of those “up-and-up” locations, there is a ton of potential in appreciation. Property owners in cities like Fort Collins and Boulder experienced insane ROI, selling just as these cities became increasingly popular. Even commercial property owners can see huge success from renting out or selling in an area that’s on the come-up.

No property is perfect, but considering these factors can help turn your investment into a successful one. Find the perfect investment property or sell the one you have with RealtyHive! Learn more about time-limited events and get started today.

What Is a Non-Recourse Loan?

/0 Comments/in /by

Owning a rental property can be a great investment and added source of income. A non-recourse loan is a specific type of loan that’s used to finance a rental property. With a non-recourse loan and rental property in mind, you could be well on your way to building your financial portfolio.

What’s the difference between a recourse and non-recourse loan?

If you fail to pay your mortgage and have a recourse loan, the lender will take your property and you’ll still have to pay the difference on your loan.

A non-recourse loan is a safer option for borrowers. In the event you can’t pay your mortgage, the lender will still take your property but you won’t pay what’s left on the loan.

How does a non-recourse loan work?

Non-recourse loans are unique in that they work with self-directed IRAs or Solo 401ks (individual retirement accounts). In order to qualify for a non-recourse loan, you have to have enough in your IRA to put down at least 40 percent of the property down, plus reserves.

What can a non-recourse loan be used for?

Non-recourse loans can be used to purchase the following types of property:

  • Residential: We’ll list the specifics of residential properties that qualify below.
  • Agricultural: You can buy agricultural land and lease it out, generally for crops or livestock.
  • Commercial: From commercial office buildings to smaller spaces that will be used as businesses, a non-recourse loan can finance this endeavor.
  • Multi-Unit: Apartment buildings or houses that have multiple units available also qualify.

It should be noted that a non-recourse loan can not be used towards renovation. If you see a fixer upper you like, know that this type of loan will not finance that project.

Residential Qualifications

There are some very specific guidelines to whether a home qualifies for a non-recourse loan or not. While this may vary slightly from lender to lender, this serves as a good rule of thumb:

Year

Houses need to be built after 1940. If you find a great pre-1940s home with a solid foundation and little need for renovation, you may still qualify.

Location

The property needs to be in the US (Hawaii and Alaska included). International properties don’t qualify.

Price

Houses need to be at least $70,000.

Residence

You cannot live in this property, nor let anyone in your family or friends live there. You have to use it as an investment/rental property. It cannot be your primary residence.

Roof

A single unit in an apartment likely won’t work, because houses only qualify for a non-recourse if they have their own roof. Terraced (row) homes or any type of residence where you aren’t responsible for your roof won’t work.

What kind of rental property can I turn the house into?

The property can become a regular rental, such as for long-term tenants, or a vacation rental! Choosing the right avenue for renting should be based on the property’s location and the area’s needs. For example, a house near a college town is a great rental property for students; a cottage in the mountains would be better as a vacation rental.

Are there any other financial qualifications?

Yes, though these will vary by lender. You will need:

  • A good credit score (aim for at least 700, preferably higher)
  • Proof of your self-directed IRA and a letter from your IRA account holder
  • Income/expense statements, generally from the past two years
  • A solid DSCR (debt service coverage ratio — it indicates how likely you are to profit from this investment), usually about 1.25

Again, these requirements aren’t the same for every lender, but they serve as a general idea.

Whether you’re breaking into the real estate investment world for the first time or are a seasoned vet, look through RealtyHive’s database to find your perfect property. From owning homes to owning rental properties, our time-limited events can help you find what you’re looking for.

Moderate Home Improvements That Make a Difference

/4 Comments/in /by

Like every relationship, there’s no such thing as a perfect house. Unless you have an unlimited budget, you’ll have to make sacrifices and concessions when purchasing a home. Luckily, there are several instances or DIY home projects where instead of ruling out your otherwise dream home, you can make the improvements — without breaking the bank or the clock.

If there’s no A/C…

Don’t let it hold you back! Forced air is the most common form of home heating, and if your house has this, you’re in luck. You can add A/C with relative ease if there are ducts, and usually for no more than $4,000. In 2-3 days, you can have lasting air conditioning to keep your home nice and cool.

If there’s a detached garage…

Some people love the idea of a detached garage and its potential for a workshop, or even a rentable unit. If you’d rather not walk through ice and snow to get to your home, fear not! You can add on a breezeway to connect the garage and house. An enclosed breezeway costs much more than an open one, but when snowstorms, hailstorms, and everything-in-between-storms hit, it’ll be worth every penny.

If there’s carpet everywhere…

Installing laminate flooring is a durable and reasonably affordable solution — and it’s one you can DIY to save even more dough. There are countless types of laminate, but to redo the flooring in a typical 200 sq. foot kitchen, it will cost anywhere between $1,500 and $5,000. Not only will you love your home’s new flooring, but it will also add value if/when you want to sell.

If the yard is drab and dry…

Yard renovations are some of the easiest renovations around. Laying sod on your own typically costs between $.28 to $.45 per square foot. Getting rocks placed for an interest area (firepit, anyone?) will likely cost no more than a few hundred bucks. Hiring an arborist or landscape company to plant trees will take a few hours, and also cost just a few hundred bucks. For less than $2,000 your yard can go from drab to fab!

If the basement is dark and dingy…

You can potentially add egress (full-sized) windows. Extra natural light takes a basement from creepy to comfy, and typically for no more than $4,000. This is a great first step in finishing the basement and adding another room to your home.

As we mentioned, it’s very rare to find a perfect house that’s within your budget. With these moderate improvements, you won’t have to rule out a property that you otherwise love. Search through RealtyHive to find your dream home (or sell your existing one) today!

All About Heating

/7 Comments/in /by

Heating is one of those things that—like your car or dishwasher—you don’t think twice about until it stops working. But anyone looking to buy (or renovate) a house should have a general understanding of the different heating systems. This knowledge can save you money (and save you from shivering, too).

Heating Questions to Ask

The house you’re considering might look amazing and feel like home, but before you buy, here are some key heating questions to ask:

  • What type of heating does the house have?
  • How energy efficient is it?
  • How old is the system?
  • When will it need to be replaced?
  • When’s the last time it was serviced?
  • How often has it been looked at?
    A yearly HVAC check is standard, particularly if it’s still under warranty.
  • Does it have A/C?
    Even though this doesn’t pertain to heating, it’s a good question to ask and oftentimes, the systems are connected.

Types of Heating

Forced Air

This is the most common heating source. A furnace (typically powered by natural gas or oil) moves heat through ducts and vents to warm a house. On average, furnaces last 15-20 years and can cost at least $3k-$4k to replace. Older systems will lead to higher energy bills; updating to a newer model can save you a few hundred bucks a year—and lead to the system paying for itself several years down the road.

Quick note: if a house doesn’t have A/C but has forced air, it’s pretty easy (and cheap) to add it on. 

Radiant

With radiant heating, metal panels located in floors, walls, or ceilings are heated and transfer that heat to the home. It’s found in older homes, and can lead to issues with the surfaces that come into contact with the panels (such as cracks in drywall). In very old homes (think 1950s) radiant heat can be dangerous. Radiant heat holds heat well, but isn’t the safest heating option.

Geothermal

Just a few feet beneath the earth’s surface, the temperature stabilizes at 55°F. Geothermal heat pumps are installed underground to access this temperature. It’s less expensive to heat or cool a home from 55°F than if it’s 25°F or 90°F outside. The pumps require lots of space and digging up your yard, but the results are awesome. These pumps help with heating, cooling, and water temperature, and can cut your energy bills by up to 80%.

Geothermal heating is a highly energy efficient way to heat a home. While expensive up front, this method pays for itself within several years.

Solar

Some might not like the look of solar panels, but who can say no to saving money and helping the environment? Solar panels harness energy from the sun which, in turn, heats your home. Savings depend on the area, but even in cloudier climates solar panels can still cut energy costs. As an added bonus, energy companies will usually buy additional power you make back from you.

Buying a home is one of the biggest investments that most ever make. You want to be well-informed before closing, and knowing your future home’s heating is an essential step. Whether your next home is in sunny Hawaii or blizzarding British Columbia, find (or sell) your home with RealtyHive!

International Vacation Homeownership Options

/2 Comments/in , /by

Want to own an international vacation property? Better question: who doesn’t?! The great thing about vacation properties is that they not only provide you a home base for traveling but that you can even rent them out and make money. See the options for owning a beautiful bungalow in Belize or a quaint cottage in Canada—and benefit in the process.

RealQuick: Types of Vacation Homes

“Timeshare” is usually the word that pops into people’s heads when thinking about vacation homes, but there are plenty of other options. 

Cabins, beach houses, apartments, condos, and even hotel suites at resorts all are vacation homes. Virtually any type of property can be turned into a vacation home! And what’s more, these vacation home options are different than timeshares because you get to make the rules.

What to Do With Your Vacation Home

You can use your vacation home in three main ways: keep it just for yourself, rent it out yourself (such as through Airbnb or VRBO), or hire a third party to manage and rent it.

Keep It for Yourself

A lot of people get a vacation home (such as a cabin or lake house) and keep it as a standalone. They only use the property for their vacation purposes or perhaps allow family and friends to use it.

The Benefits:

  • Have a place to escape to.
  • Avoid paying for or finding accommodations while traveling.
  • It’s a financial asset.
  • The memories of spending repeated time in a vacation spot are priceless!

The Drawbacks:

By keeping it for yourself, the vacation property is only being used when you’re there. As is true with any property, it’s a significant investment. Some people also feel like they can’t travel elsewhere—they feel like they have to get their money’s worth. Not to mention, if you think owning one home is a lot of work, imagine owning two.

Rent It Out Yourself

Turning your vacation home into a vacation rental undoubtedly opens the door for additional revenue. With renting it out yourself, you are responsible for finding renters and managing the property.

The Benefits:

  • All the benefits of owning a vacation home, plus… 
  • Generates income off of a rental property.
  • Pays off the purchase over time.

The Drawbacks:

It’s a lot of work to rent out your place by yourself—many consider it a full-time job. It’s more convenient if you live near your vacation rental property, but nearly impossible if you don’t. You’ll have to do a solid job marketing it to ensure you’re getting your money’s worth. 

It should be added that if you don’t feel comfortable with others staying in your vacation home, this is not the option for you and that’s OK. Adding tons of stress for money won’t be worth it.

Rent It Through a Management Company

beautiful patio

Hiring a third party to manage and rent out your vacation rental eliminates a lot of hassle. With this option, a property management company takes over renting processes and also provides cleaning.

The Benefits:

  • All the benefits of owning and renting out a vacation home, plus…
  • Saves tons of time on cleaning and renting it out.
  • Makes it possible to own an investment property without having to live nearby.

The Drawbacks:

You’ll pay a fee for these services—it depends on location but some averages estimate 8-12% of the monthly value. Many who use management companies find it harder to use their vacation home themselves—at that point, they’re paying a fee and want the difference to be covered with extra renters.

Everyone has an option that works for them when it comes to owning a vacation property. But before you plan on laying poolside or start dreaming about what that added income will do for your finances, you need a vacation home! Look through RealtyHive to find your perfect property abroad.

Navigating Real Estate Auctions

/10 Comments/in /by

Buying a home at a home auction is not a new process, but it’s one that’s unfamiliar to most. There are lots of myths surrounding home auctions, and plenty of people who think of a home auction as a last resort, rather than a first choice.

RealtyHive is here to clear the air. Knowing about home auctions could make your next home purchase easier—and could even save you money.

Types of Home Auctions

If you think a home auction only happens in the event of a foreclosure, you’re not alone. However, there are actually multiple types of real estate auctions:

Short Sale

Foreclosures are time-consuming and expensive. When a homeowner owes more on their mortgage than what the house is worth, they might have the choice to put their home up for a short sale auction and avoid foreclosure.

From a buyer’s perspective, this type of real estate auction has its pros and cons. Home inspections are a toss-up—you might be able to get one, or you might not. Oftentimes, these sales are cash only, which works great for some, but isn’t ideal for home buyers needing to finance the purchase. Short sale auctions are also difficult to find for regular home buyers.

Sheriff/Trustee/Federal Sale

The name changes depending on location, but this is a foreclosure auction. The bank wants to get the money or the property. If you’re able to purchase, you’ll need to have the funds right away and there are typically no inspections. More often than not, you’ll buy without even getting to see the site first.

Auction

Regular real estate auctions happen at the seller’s choice—they’re not foreclosing or at risk for it. Interestingly enough, this type of home sale happens a lot in Europe and Australia. Home auctions are just beginning to pick up speed in the US.

Auctions can have high fees—15% at the highest. Whether they’re paid for by the seller or the buyer depends, so as a buyer, your expenses could dramatically increase. These fees do not include working with a real estate agent—an additional 6% commission on average.

That being said, luxury properties often sell faster at an auction than if going the traditional route. If you’re looking to buy an average/regular home and are in the US, it will be harder to find one through real estate auctions.

Time-Limited Events

This is an exclusive home auction, available through RealtyHive. Here are some of the draws:

Benefits of Time-Limited Events for Home Buying

  1. Don’t require a reserve

    The market helps find the right price.

  2. Contingencies are still allowed

    Buyers (and their potential investment) are still protected.

  3. Traditional financing

    Unlike other auctions, buyers can still apply for loans to finance their home purchase.

  4. No crazy fees

    Buyers are waived from having to pay expensive fees.

  5. All properties

    Time-limited events work for all types of properties, including vacant land and commercial properties.

Banner with white man standing in front of house with text "Buy. Sell. RealtyHive."

At RealtyHive, we truly think we offer the best home auction option on the market. The countless sellers and buyers who have worked with us would agree. 

But don’t feel as though you have to take our word for it—this blog is for information purposes, not a sales pitch. No matter the buying route you go, it’s good to know how home auctions work.

Which Home Exterior Is Best?

/0 Comments/in /by

“Don’t judge a book by its cover” is always good advice, but when it comes to homes, the outside matters quite a bit. Knowing about a home’s exterior is essential information for home buyers and home sellers alike. Read on to learn about the best home exteriors.

Vinyl

Vinyl siding is the most common exterior in the United States. For as durable and versatile as it is, it’s reasonably priced. Plus, there are countless vinyl color options and patterns to choose from, and it doesn’t require painting.

The Cons: While extremely durable, it’s not infallible. If a panel becomes damaged or cracks (such as in extremely cold weather), it can’t be patched up—the whole panel will need replacing.

It should be added that while vinyl can add value to your home’s worth, this isn’t always the case. Homes located in historic districts that are “updated” with vinyl will likely lose value rather than gain.

Composite

Composite siding resembles wood but is actually made from PVC. It’s cheaper than actual cedar siding, and won’t attract critters or rot like wood siding will. People are choosing composite siding more frequently for its beautiful look and curb appeal.

The Cons: It’s considerably more expensive than traditional vinyl siding. Since it’s so new, we don’t have a lot of information on the long-term downsides.

Brick

One of the oldest building materials, brick actually has more than just aesthetic benefits. Brick is made of clay and other natural materials, making it eco-friendly. It also minimizes mold and mildew, and even dust mites—great for people with dust or mold allergies. Plus, brick helps stabilize your home’s temperature and can cut down energy bills.

The Cons: If you live in an area where earthquakes and/or erosion is prevalent, brick doesn’t do a good job of shifting and can mess with your foundation. In extreme climates, temperatures cause brick to expand and contract (another thing you don’t want). Also, while bricks themselves are super durable, the mortar that holds them together is not. 

Shake

Made of cedar, shake looks gorgeous and is reminiscent of classic homes on the East coast. Shake is more resistant to insects and rot than other wood shingles.

The Cons: Even though it’s durable, any kind of wood shingle or siding requires a lot more maintenance and upkeep. It might be cheaper to install than some other exterior types, but you’ll pay a lot to ensure it lasts.

Stone Veneer

From woodland cottages to modernized suburban homes, stone adds a wonderfully appealing texture to a home’s exterior. Stone veneer is a synthetic alternative to real stones, meaning it costs less but can still bring the richness you’re looking for.

The Cons: Stone veneer isn’t eco-friendly—it doesn’t come from sustainable sources. A subpar product or poor installation can cause moisture to seep in, among other problems (though this is true for virtually all exterior types).

Adobe

While vinyl siding might be the most common material for a home’s exterior, this answer changes when you travel southwest. Adobe is a temperature-regulating material that withstands the tests of time—one of the oldest structures in the US (the San Miguel Mission, built in the early 17th century) is made of adobe. It’s durable, environmentally friendly, and visually stunning.

The Cons: Adobe doesn’t fare nearly as well in climates with lots of water. While not impossible, adobe will require more maintenance if used in places outside of the desert. Sudden rainstorms in the desert could also pose a threat to this type of exterior.

Metal

Metal siding can make a house look as modern as it looks rustic—it’s surprisingly versatile in its aesthetics. Galvanized steel can be painted with relative ease, and aluminum siding doesn’t rust. Studies show it can have an ROI as high as 86%, making it a definite contender for your home’s exterior. Plus, it’s recyclable!

The Cons: There’s no “foolproof” metal option. Aluminum might not rust, but it can dent super easily (such as from a hail storm or even an errant baseball). Steel is much more durable, but much more prone to rust. Zinc is a newer material for metal siding, but it costs a lot more than aluminum. 

Banner with white man standing in front of house with text "Buy. Sell. RealtyHive."

Now that you’ve learned about the best and most common home exteriors, put your knowledge to the test! Look through our real estate listings to see what exteriors are out there on the market. Whether you’re looking to find your dream home or sell your existing house, RealtyHive can help. Work with us for a time-limited event today!

What Is an Escalation Clause?

/1 Comment/in /by

You’re a first-time home buyer and just found your dream house. You put in an offer. The seller goes with someone else.

That’s OK, because shortly after you find another beautiful home! You put in your offer. But once again, the seller goes with someone else.

Anyone would be bummed in this situation. Most would be thinking the same thing: How can I break the pattern?

The escalation clause is a potential solution. See how this real estate tip can keep your offer on the table!

What It Is

The escalation clause is this little-known addendum that you can add to your offer. If you hear that there are other offers on the table, you can submit an escalation clause to help give your offer a little boost.

Infographic explaining what an escalation clause is in real estate

How It Works

Oftentimes, interested home buyers will submit an offer on a house they really love, listing the max price they’d pay off the bat. Their offer still might not get accepted, but even if it does, they might end up paying more than they needed to.

Let’s say you put in your offer at $250k. You find out there are other offers. Here’s what you can do:

  • Determine what your maximum amount is
    • Ex: “I don’t want to pay more than $280k on a house.”
  • Decide the incremental amount you’ll extend your initial offer
    • Ex: “I’ll increase my offer by $1200 up to $280k.”

There’s a lot that goes into making an offer, and an escalation clause doesn’t guarantee success. However, it can keep your foot in the real estate door, and it’s handy for when you find a house that you really want.

Can an Escalation Clause Backfire?

Not really, except in the sense that you could end up paying your max when you didn’t need to. The best way to prevent this is by only submitting an escalation clause when you know there are other offers. Don’t submit if the sellers tell you “We’re expecting other offers” or something along those lines—only when there are actual, written offers on the table. Ask the seller’s agent to let you know when other written offers have been presented.

Banner with white man standing in front of house with text "Buy. Sell. RealtyHive."

Pre-Event Offers: An Escalation Clause Alternative

Placing a pre-event offer for a home auction is similar to an escalation clause. With RealtyHive, your pre-event offer could be accepted and then you wouldn’t even have to wait for the event itself! You can submit your offer and increase it in the same increments. We also sell traditional properties, so escalation clauses can help in competitive situations.

You might have been unsuccessful with offers in the past, but with your newfound escalation clause and pre-event offer knowledge, we think your future of home ownership is looking pretty bright. Check out some of the incredible properties on RealtyHive today!

Special thanks to @fixandflip_kdesigns for their business tips.

How to Stage Your Kitchen For Sale

/2 Comments/in /by

The place where food brings family and friends together, the kitchen is perhaps the most important room in your home. 

In order to sell your home and get your pick of offers, you want to showcase your kitchen as a desirable place. A dingy, cluttered, or even outdated kitchen will likely turn away buyers; a polished and organized space will do just the opposite. With these staging tips, you’ll be set for house showings, marketing photos, and selling as a whole.

Tip #1: Set an accurate listing price.

We’ve talked about finding out how much your home is worth, but this is also important to keep in mind before you start showings (or marketing your property online). If your appliances, counters, or cupboards are outdated, replacing them just before trying to sell doesn’t make sense. It’s OK if your kitchen doesn’t resemble a set from Food Network—just make sure the state of your kitchen is reflected accurately in the listing.  

Tip #2: Clean, clear, and declutter.

The trick to staging is that your home shouldn’t look like your home on a random Tuesday, but instead look like it could be somebody else’s home. Cleaning your kitchen until it’s spotless should go without saying, but here are a few other ways you can tidy up:

  • Take magnets off of the fridge.
  • Clear off all kitchen surfaces.
  • Move any pet bowls to the garage or mudroom.
  • Organize your fridge and cupboards.
  • Consider giving your walls a fresh coat of paint if it’s due.
    • At the very least, don’t forget to wash and clean your walls!

Tip #3: Put the spotlight on ______. 

What are the best aspects of your kitchen? Are they those gorgeous hardwood floors? Your lighting fixtures? The ornate backsplash? Whatever it is, make sure these aspects stand out.

Polishing your wood floors, replacing light bulbs, or hanging up a dish towel that complements the color scheme are just some examples of inexpensive—but effective—ways to highlight your kitchen.

Tip #4: Turn on all the lights.

The brighter, the better! A dark kitchen isn’t welcoming, and it can ruin even the best kitchens when trying to photograph. Staging your kitchen—whether for photographs or an open house (or both)—is most effective when you turn on all the lights.

Tip #5: Spruce it up!

Weirdly enough, real estate agents tend to have a habit of setting out two empty wine glasses, an unopened bottle of wine, and calling that staging. While subtlety is key, that doesn’t exactly sell your house in an eye-catching way. 

A simple succulent or other houseplant serves as an excellent table centerpiece. Reupholstering your chairs or stools is a great way to add a pop of color (or to provide color balance). A cute dish towel can draw just the right amount of attention. Sprucing up your kitchen takes thought but hardly any time—and it can be just what your kitchen staging is missing.

Selling your house takes a lot of work, as well as time. But when you work with RealtyHive, you can sell fast, easy, and on your terms. Contact us to sell through a time-limited event today!

Banner with white man standing in front of house with text "Buy. Sell. RealtyHive."