Agent Disclosure: What Buyers Need to Know

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If chefs make their own Denver omelettes at home on a Sunday and professional musicians sing in the shower for their own fun, can real estate agents sell their own property?

Through agent disclosure, the answer is yes, they can. However, buyers should be on the lookout — some agents try to not disclose this information to their own advantage.

What is an agent disclosure?

Agents are allowed to sell their own property, but licensed real estate agents are required to let the buyers know. They must disclose this in writing to the purchaser of the property. Even if their license is no longer valid and/or expired, they are “strongly encouraged” to reveal this to potential buyers.

Referral fees (and how they’re tricky)

As we’ve mentioned in another blog, agents get referral fees when they refer another agent to complete a transaction — basically like a finder’s fee. They receive 30% commission from the agent’s commission of whom they referred the client to.

In regards to selling their own homes, agents will sometimes use this referral procedure to their advantage. Here’s how this often plays out:

  • Margaret is a real estate agent who’s selling her house.
  • Instead of providing agent disclosure, she gets her friend and Realtor Micah to be the agent.
  • Micah does all the work to get Margaret’s property to sell.
  • Margaret, having never disclosed but simply referred, gets a percentage of Micah’s commission because of referral fees.

The takeaway here is that even if a seller doesn’t disclose that they’re a real estate agent, they might still be one. And they might have added incentives that give them more of a cut.

How can I find out about agent disclosure?

Do not call the listing agent.

When you see a property you’re interested in, work with your own agent. Never call the number that’s listed on the “For Sale” sign.

Ask the real estate agent.

If they don’t disclose their connection to the property over the course of a house tour and meeting with you, make sure you ask them. 

Do some research.

If for some reason you have a weird feeling, aren’t convinced, or just genuinely want to make sure you’re in the know, do a quick Google search of real estate agents in your area. 

What if the seller doesn’t tell me they’re a real estate agent?

Report them to the state real estate board. They’ve broken a code of ethics and could face loss of commission, or even having their license revoked.

For the record, not every real estate agent does this. There are plenty of agents who are always putting the client’s best interests first. If you truly want to play it as safe as possible, use Cashifyd to find a trusted agent in your area. Not only does Cashifyd connect you with a real estate agent, you’ll even get cashback at closing for using it! Take charge and get your own referral fees with Cashifyd — and stay on the lookout for agent and other seller disclosures.

Things to Know When Selling a Condo

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A lot of people have hesitations on buying a condo, and many of these reasons stem from not knowing how to sell one. They worry that they’ll struggle to find buyers, or that the nuances between selling a condo and a house are too complicated or too much of a hassle.

Rest assured: buying a condo is still a lucrative real estate investment, and selling it isn’t as bad as you might think. As long as you know these essential selling tips, you’ll be in good shape.

Check with the board or HOA.

While not always the case, it’s common for some entity (such as an HOA or board) to manage the overall building in which your condo is located. They’ll provide you with any details or processes that are specific to the property, as well as necessary paperwork. This could include (but isn’t limited to):

  • Past board meeting minutes
  • Financial reports for the condo association
  • Planned assessments or improvements
  • HOA disclosure or financial documents (if any)

These documents must be disclosed to the buyer, so it’s good to go through them now. It’s also good to talk to the association because they might have some insightful selling tips — or even a potential buyer. Desirable properties may have a waiting list of people looking to move in.

Do some research.

The two main things to research before putting your condo on the market: price and timing.

Price

What have similar condos sold for in your area? Is anyone else in your building currently selling (or recently sold)? A real estate agent can pull comps to find more selling details, but with condos there are some seemingly small factors that can actually make a substantial price difference:

  • Noise level: Condos on the end or penthouses share fewer walls. This means less noise, which makes your property worth more.
  • Views: Often found in downtown areas with access to stunning skylines, better views fetch a better listing price.
  • Location: A third-story condo in a building with no elevator will likely cost less than one on the floors below.
  • Indoor parking: Condos with an included garage space are worth more than condos with outdoor or street parking.
  • Other amenities: Pools, gyms, event spaces and any other amenities add value.

Some of these factors might seem obvious, but think about how different it is than selling a house. Two 3-bed, 2-bath houses a block apart from each other will likely have a similar listing price; the same isn’t a guarantee with two separate condos.

Timing

So much of the timing for when to list your condo depends on where you live. If you own a condo in a quaint and popular ski town, selling in the fall is probably your best bet. A condo in a beautiful island destination might have the most success when listed in the winter. 

It pays to do your research on selling times for condos in your area. Talking with a real estate agent can also make a huge difference, but above all, it pays to have common sense.

Kick staging up a notch.

Staging a condo requires a bit more finesse than staging a house because there’s less space to work with. When working on a micro level, the details stand out more than ever. 

  • Prioritize space: No buyer is interested in a place that feels cramped. Get rid of or store away anything that’s not essential, organize closets and declutter relentlessly.
  • Add some elbow grease: Clean and polish surfaces as if you were about to move out of a rental and didn’t want to incur a cleaning fee.
  • Highlight the highlights: Open the blinds and clean the windows to show off those breathtaking penthouse views. Clear and organize your deck. Organize your extra storage. Whatever your condo perks may be, shine the spotlight on them.

In addition to staging your particular unit, think about the highlights of the building or condo association as a whole. Be ready to show the pool or parking garage, or even just highlight security measures when bringing guests up.

Selling a condo overseas? Look out for some restrictions.

RealtyHive has condos available in Panama, Belize, Aruba and more, as well as commercial and residential properties all over the world. As such, we have a lot of knowledge on international real estate. Many people don’t realize that some countries have restrictions on who you can sell your condo to (in addition to other laws).

In some instances, it’s illegal to sell to foreigners (unless you’re also a foreigner). Check with a local agent or lawyer for more information.

When to NOT sell your condo

If you’re in the financial spot to do so AND you don’t have HOA or board restrictions, you might be better off renting out your condo. You’d have to consider the possibility of managing two mortgages at once (in the times when you don’t have renters) but this could open up a new channel of investment and passive income.

However, you should check with your condo association before getting your hopes up. It’s likely that if you have a condo association to begin with, you won’t be able to rent it out (but it doesn’t hurt to ask).

These are the main things to note when selling a condo — other pointers like real estate marketing and closing aren’t all that different from selling a house. If you want an extra boost in exposure and results when selling, list with RealtyHive! Our time-limited events can give your condo the exposure it needs.

How to Buy a Foreclosure & Other FAQs

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Most of us are familiar with the term “foreclosure” but unless you’ve bought (or dealt) with a foreclosed home, you probably have a lot of questions. RealtyHive has the answers you need to become well-versed in home foreclosure.

What is a foreclosure?

Foreclosures happen when homeowners can’t keep up with their monthly mortgage payment.

With the average house costing just over $226,000 in the US, it would take most people a decade or longer to afford a house outright. However, people need places to live. Homeowners take a loan or mortgage out from a bank in order to pay their home off over time.

If homeowners aren’t able to pay back this monthly mortgage, they’ll default on the loan. Homeowners in this situation will lose their house — it becomes a foreclosure.

What causes a home foreclosure?

There are any number of reasons why a homeowner might miss their mortgage payments. Illness and unemployment are two of the biggest reasons.

The specific foreclosure process depends on the lender and the state, but homeowners will get a notice after 3 to 6 months of missed mortgage payments. This notice lets homeowners know they’re at risk of losing their property.

At this point, homeowners enter pre-foreclosure. Depending on the state, they have anywhere between 30 to 120 days to figure out a solution before going to auction. The homeowners might pay what they owe or work with a lender for a short sale. If they don’t pay what they owe, the auction is the next step.

How does an auction work?

In most states, the government acts as a middleman and auctions the property before foreclosure. The property goes to the highest bidder, who is usually (but not always) the bank.

If the bank doesn’t win, the money from the highest bidder still goes to them and clears the debt. Otherwise, the bank gets the house if they win and they try to sell it.

These auctions go by a number of names: sheriff sales, federal sales, trustee sales — the list goes on.

How do you find a foreclosed home?

By law, foreclosures have to be made available to the public. You can Google your county and “sheriff sale” and you can access a list. Certain real estate agents specialize in foreclosures; contact them to see what’s happening in your area.

Some interested buyers like to drive around and look for homes that seem unoccupied, then research whether or not it’s a foreclosure. In some states, foreclosure notices must be posted on the front door. 

Even if that’s not your strategy, it’s a really good idea to at least drive by the property you’re considering bidding on. Just make sure you stay off the property and respect from a distance. Especially if the homeowners are there, you don’t want your presence to make them feel worse. Foreclosures are a living nightmare for homeowners.

How do you buy a foreclosed home?

The actual buying takes place in most instances, you’ll still need pre-approval from a bank first and foremost. Some auctions (like sheriff’s sales) require you to have the money ready to go in days. With that example, you’ll need cash or another type of loan that’s ready to go.

In a RealtyHive time-limited event, the seller (in this instance, the seller is a bank) chooses how they want to accept payment. Some banks might accept traditional mortgages, but a cash offer is still more of a guarantee, and more likely to win the bid.

Do your research before getting too invested. The last thing anyone would want is to place the winning bid, only to learn they have to pay in cash.

Is it a good idea to purchase a foreclosed home?

It definitely can work out, but much of it depends on what you want out of this property. If the only reason you’re leaning towards a foreclosure is because you think it’s a surefire deal, be prepared to invest much more than the opening bid.

Foreclosures oftentimes aren’t in great condition — if the homeowners struggled to pay their mortgage, there’s a good chance they struggled to pay for maintenance and general upkeep as well. 

You can still put in an offer or bid with a contingency regarding home inspection, but banks (or owners) often try to sell these homes as-is. Some sales require selling as-is. With that in mind, you have to be ready to fix things up. While some people love the idea of a fixer upper or flipping a property, those who want a low-hassle home will likely take more comfort in the traditional buying route.

Are foreclosures the only way you can buy in an auction?

Nope! It’s a common misconception, but many people put their home up for sale in a time-limited event with RealtyHive, regardless of financial circumstances. You can even put in an offer before the event and take a walk-through. Look through our listings to find your next home or investment property!

What Should You Do With Your Spare Room?

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Ever since Mr. Tumnus asked Lucy about the magical land of Spare Oom, we’ve all secretly hoped that our own spare rooms contained some magic. Granted, it’s hard to come by a wardrobe that leads you to Narnia in these economic times, but we at RealtyHive are here to tell you that your spare room still holds value.

We’ve covered backyards, security systems, and basement finishing across several “Is It Worth It” blogs. This post on spare rooms is slightly different but still under the same umbrella. What should you do with your spare room, and how can you maximize its value?

Spare Room Ideas

Filling up your spare room with boxes of stuff or general clutter isn’t only disorganized, it’s not granting you the space you deserve. There are countless purposes that your spare room could fill that also improve your ROI. A messy room filled with stuff will turn future buyers away; an intentional space will pique their interest (and potentially get you a better offer).

Home Office

More and more people are working remotely than ever before. If you’re tired of hunching over your laptop on the couch or taking Zoom calls in the kitchen during lunchtime, a home office is a great use of a spare room.

But home office benefits aren’t just for your work performance and productivity. Adding an office has anywhere from 60 to 72% ROI and increases your home’s value.

Guest Bedroom

Even if you don’t have frequent guests, a guest bedroom is still a good use of the space. Most people turn their spare rooms into guest rooms because it’s an easy way to repurpose the space. It’s also convenient for the times when someone does end up rolling through town or needing a place to crash.

Guest rooms are also handy when life likes to surprise us. If your parents or in-laws suddenly need additional support, they’ll have somewhere to stay. If you end up expecting another child or your 14-year-old is desperate for their own space, it’s an easy fix.

Home Gym

Driving to the gym is a chore, it’s somewhat inflexible (if you like to workout late or want to workout on a holiday), and it might not offer you the privacy you’re looking for. Turning your spare room into a gym has a pretty hefty upfront cost (just in terms of buying equipment) but could be a great investment for your health. 

Depending on how often you use your home gym and the type of equipment you get, this spare room idea might pay for itself. People spend close to $700 a year on their gym membership, not including gas money. In just a few years, your home gym could make up for the costs that would otherwise be spent at a public gym.

Playroom

When the mountain of toys from Aunt Jessica continues to grow (despite you telling her they have enough, but that’s another story), it’s a huge relief to have a designated area for the kids’ stuff to go. Playrooms offer a bit more safety and structure as well — you won’t have to worry about your 3-year-old bonking their head on the fireplace in the living room.

Anything Else

A space for you to make candles? A room full of beanbag chairs for ultimate naps? A comfy movie room with a projector? There’s no limit to unique spare room ideas. You can even tear down the wall and add space to an existing room if you like.

Spare Room Things to Keep in Mind

There are a few questions to ask yourself when considering different spare room ideas:

  • What are my main priorities?
    One spare room can’t do it all. If you’re desperate for a home office but worry about where to put guests, you’ll have to figure out which need is more important. But good news: you can always combine an office and guest room.
  • What are the neighbors doing?
    If you’re the only 2-bedroom house in a neighborhood of 4-beds, this will hurt you when it’s time to sell. At the same time, if everyone else has 3-beds and you have 5, you should probably convert one of those rooms into something else. Following neighborhood norms helps when it’s time to sell.
  • Are there any legal requirements?
    We doubt you want to turn your spare room into an upstairs kitchen, but if so there are lots of permit laws and codes that require researching. A common example: bedrooms must have an egress window (and in some states, a closet as well) in order to be legal.
  • Are there any tax incentives?
    If you’re a full-time, remote, self-employed worker, turning a room into a designated office can mean a tax break. In some states, acting as a caregiver can do the same (or provide other financial reimbursement).

A spare room with intentional purpose and design can add tremendous value to your home. It can keep you on par with the neighbors, provide extra space for your family, and even increase your potential for higher offers when you’re ready to sell.

If you’re reading this wistfully, wishing you had a spare room to play around with, don’t be discouraged. You can look through the RealtyHive listings to see which houses are for sale. Place your offer and list your existing home with RH for great results (and spare room success).

What Is Confidential Real Estate?

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When we think of selling a house, we think of the traditional: “For Sale” sign in the front yard, a social media post, a listing on a real estate platform, and maybe asking around for any realtor recommendations. This might be common practice, but it’s not always the best option for sellers (and it’s certainly not the only way).

Confidential real estate offers a more private alternative to selling, ideally without losing much buyer reach or selling potential. There are several reasons why a seller might go this route. Find out if working with a confidential real estate company is a better option for you.

Why do people choose to sell confidential real estate?

Selling isn’t always a joyous occasion that marks an exciting next chapter. For some sellers, putting their property listing out there for all the public to see is the equivalent of airing dirty laundry. Confidential real estate is a way for sellers to list their property with more discretion.

Who can sell their property confidentially?

There are several instances where people might choose to sell with a confidential real estate company:

Divorce

Moving is painful enough as it is, add divorce into the mix and you’ve got yourself a living nightmare. For many people undergoing divorce, listing their house traditionally means having neighbors, acquaintances, and anyone else in the area gaining access to news that they might not want to share. Confidential real estate offers some much-needed privacy.

Foreclosure

Just like divorce, there can be a lot of shame with losing a house to a foreclosure. The last thing anyone wants in that situation is for random neighbors or people at work asking them about their money troubles. Confidential real estate can stop someone losing their house from becoming the talk of the town.

Businesses

Businesses move and it might not always be for dire reasons — in a lot of cases, it’s to a better location or bigger space (all positive things). That being said, a “For Sale” sign in your favorite restaurant’s window can send anyone into a panic.

Business owners usually go the confidential real estate route — they don’t want to scare their clients into a panic. It’s why you’ll notice most businesses announce their move right as it’s about to happen, after the sale.

Are there any downsides to confidential real estate?

Yes, but only if you don’t work with the right company. We’ll dive into that in a minute, but in the meantime, here are some of the drawbacks a confidential seller might run into:

  • Less exposure: Keeping a house sale out of the public eye could mean fewer potential buyers.
  • Fewer resources: Homeowners don’t list with the MLS and Zillow doesn’t list commercial properties.
  • Lower offers: With less exposure, fewer resources and subsequently, fewer interested buyers, property owners might not get as high of an offer.

RealtyHive: An Unmatched Confidential Real Estate Company

Zillow can’t help business owners, but RealtyHive can. We frequently list commercial properties in a confidential manner, but that’s not all we do:

  • Non-MLS marketing: We provide strategic marketing to get your property the exposure it needs.
  • Selective listings: Don’t want to list your foreclosure in your neighborhood? No problem. We can exclude cities, states, and even countries from marketing.
  • Screened calls: Our customer service reps answer calls for you (or on behalf of your agent) for another layer of protection and privacy.

You deserve as much of peace of mind as possible when selling your house. RealtyHive makes that happen. Work with us to get the best confidential real estate experience possible.

Why Buy in an International Real Estate Development?

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International properties in general are an amazing buy. They offer rental investment opportunities. They’re about as superb a vacation home as you can get. Plus, there are often tax laws that make owning an international property both lucrative and more affordable than you might realize. 

But as you look through international listings, it can be difficult to find the right one, especially when you don’t know much about the culture or laws where you’re buying. There’s an easy solution: go with an international real estate development. These developments are one of the most solid options you can choose from.

What is an international real estate development?

International developments are often gated communities or apartment/condo complexes. They have security access and the properties (condos, apartments, or houses) are available for purchase.

Why buy in an international real estate development?

Safe

As mentioned, these developments are usually gated, often with 24-hr security access. This can serve as a relief to homeowners who feel some unease from living in a foreign country. It can be intimidating when you’re new to language and customs. Wanting to feel secure — especially when out of your comfort zone — is natural.

Amenities

International developments often have tons of amenities onsite, and we’re not just talking about the pool. Amenities may include (but are not limited to):

  • Stores
  • A bank
  • Pharmacy
  • Workout facility

These conveniences makes many of your vacation plans easier (which is exactly what we all want when on vacation). If you want to rent out this property, it makes your place all the more enticing.

Resources

One of the biggest amenities is being surrounded by concierge and staff from the area. Whether you need a doctor, are hoping to buy a car, or even just want the deets on the best restaurants in town, they’ve got you covered. 

Westerner-friendly

If you want a vacation home where English is widely spoken, an international real estate development is practically a must. Most of these developments have English-speaking staff. Plus, US dollars are generally accepted and homes are more in the style of US/Canadian homes. International developments offer a lot of the “home away from home” vibes that many property owners are looking for.

Pay Structure

A lot of times, foreigners can buy from an international real estate development by paying in chunks. It’s not always easy to get a mortgage when buying abroad, but developments make it easier.

More Opportunity

Certain countries don’t allow foreigners to buy or own land whatsoever. Or, there are limitations in place (such as buying a foreign home from another foreign seller). Developments open up buying opportunities for foreigners in ways that would not otherwise be possible.

We’d all love to sip mojitos poolside in a beautiful destination abroad but arguably, we’d love it even more if it was a home away from home. Whether you’re ready to find your dream vacation home, are looking for a new rental property investment or just want to dream a little, look through the RealtyHive international listings for some incredible international real estate developments!

Procuring Cause: The #1 Reason Why You NEVER Call a Listing Agent

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You’re driving through a neighborhood when suddenly you see it. The house you’ve always loved at a distance, now with a “For Sale” sign in the front. Excitement bubbles up and you pull over to get the phone number on the— STOP RIGHT THERE.

Do NOT call the number. Calling this number throws a real wrench into a lot of people’s plans, and could even shortchange you thousands of dollars. Here’s why:

Whose number is on the “For Sale” sign and why shouldn’t I call it?

That real estate agent is known as the listing agent, and they work for the seller. You don’t want to work exclusively with them because the listing agent has the seller’s best interests in mind. But there’s another reason not to work with them, and it’s called the procuring cause.

What is the procuring cause?

Let’s say you call the number on the “For Sale” sign and work with the listing agent, named Lisa. You meet with Lisa and she shows you the property. 

Now that’s all fine and swell, but you actually want Bob the buyer’s agent as your Realtor because you know he will represent you best. However, since Lisa already showed you the property, she could say that she actually gets Bob’s commission because of the procuring cause (she already showed you the house). This inadvertently throws Bob under the bus.

How can I avoid the procuring cause?

The easy answer is to not call the number you see on the sign. Not only does that protect Bob’s commission, but it could protect thousands of dollars that you could get as cashback at closing by using Cashifyd.

How does Cashifyd work?

Cashifyd is a way for you, the buyer, to take advantage of realtor referral fees and get money towards your closing costs. It’s simple to use and should be every buyer’s first step! Here’s how it works:

  1. Tell us about the property you’re interested in.
  2. Submit your info.
  3. Hear back from agents about offers and cashback.
  4. Pick your agent and connect with them.
  5. Buy the property, get cashback at closing!

The next time you look through our listings or see a property you’re seriously interested in, don’t call the listing agent. Don’t run into the procuring cause. Do get connected with Cashifyd to find a real estate agent near you who’s looking out for your best interests. It’s easy, it’s fast, and it leaves you with solid cashback to help with closing costs — it’s the only way to go.

Shill Bidding & Other Shady Auction Tactics

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Using an auction to buy or sell a house has long been thought of as “unsavory.” Many sellers have seen it as a last resort, an act of desperation. This isn’t a completely unfair analysis — there are lots of auction tactics out there (such as shill bidding) that range from questionable to downright shady.

RealtyHive does not condone any such practice. We distance ourselves from shady auction tactics entirely, but all the same we think it’s a good idea to keep your eyes out for anything that could potentially rip you off. 

Shill Bidding

Shill bidding is one of the most common examples of a shady auction tactic. In shill bidding, a seller will have a friend or family member place bids to drive up the competition. While the backfire could lead to the “fake” bidder having to pay up, the potential benefit could gain the seller a lot of profit.

When it comes to selling a house, shill bidding is designed to help the seller. It absolutely hurts the buyer. This comes as a surprise to most people, but many real estate auction sites allow sellers and even agents to bid on their own property.

Rest assured, RealtyHive has a strict no shill bidding policy. We make sure no sellers have any part in the bidding process of their own properties.

Adding Time

Most auctions have a set time where people can place bids. At the end of that time, the highest bid is the winner — a format most of us are very familiar with.

However, some auction sites say they have a set time but it’s not actually the case. For example, a site might hold bidding from 10 a.m. to 4 p.m. If a bid comes in at 3:59, they add two more minutes. This keeps going until no more bids are added.

Again, this might seem beneficial to sellers, but it hurts buyers by providing more leeway to hike up the price. At RealtyHive, we’ve designed our bidding structure to be as fair as possible.

Reserve Price

Some auction sites say that a seller can only sell when a Reserve price is met. Oftentimes, they won’t tell the buyer what this is. If this mysterious Reserve price isn’t met, the site might put the property for sale again. This tactic might not hurt someone outright, but it could still pose an inconvenience. At the very least, it’s best to work with an auction company that’s as transparent as possible.

Overpriced Listing

Savvy buyers and those who work with agents will likely not have to worry about this, but it’s a shady auction tactic to watch for all the same. An auction site might take a home that’s worth, say, $300k and put the opening bid at $400k. Again, this helps the seller but drives the price up for the buyer, unnecessarily.

More than anything, when it comes to buying or selling a house, you want to do your due diligence. This is true regardless of if you work with an auction site or not. But the great thing about RealtyHive is that you don’t have to be wary or worry if you’re getting ripped off. 

You can use an agent (and if you use Cashifyd, you can get cashback at closing but it’s OK if you want to use your own). You can finance your house as you would normally buy a house. You can still put in an offer before the bidding day. You can take a walk-through. As a buyer, you might score a deal and as a seller, you might make an even greater profit.

Don’t risk it with shady auction sites — work with RealtyHive for a verified and trusted time-limited event.

Is It Worth It: Home Security Systems

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Castles had moats, China built the Great Wall — humans have a history of wanting to protect their domain. But when it comes to protecting your home, are home security systems worth the cost?

That’s what we’ll figure out in our latest Is It Worth It installment. We’ve covered backyards and basements and in this post, we’re checking in on home security systems.

Some security measures are legally required.

While we will dive into advanced home security systems, it’s important to note that there are some basic security measures that every house needs. In every state (except Kansas, for some reason), houses must have a smoke detector and many states also require carbon monoxide detectors.

Even if your state doesn’t have laws on smoke and carbon monoxide detectors, it’s just good practice to install them. They’re inexpensive, they rarely need battery changes, and they truly can save lives. Keeping a fire extinguisher on hand is also a good idea.

Are home security systems worth it?

A security system like ADT can range from $9 to $14 a week, or between $468 and $728 annually.

This is a fairly hefty expense, but here are some reasons why a home security system could be a good investment:

Provides a Sense of Security

It goes without saying that this benefit adds protection and can eliminate stress. Many homeowners consider a security system worth every penny, regardless of cost. No one needs a reason to get a security system, but it might be of extra value to homeowners who travel a lot, or those who stay home with kids. 

Lowers Homeowners Insurance

Homeowners typically pay at least $1,000 a year for insurance. Some studies suggest that purchasing a security system could lower your annual insurance costs by 10 percent. This percentage might go as high as 15 percent or more if your system calls the police during an event.

Potentially Tax Deductible

If you work remotely and have a home office, you can potentially write your security system off as a business expense.

Increases Home Value

According to Forbes, “The top five technology features [home] buyers would like to have are security cameras, video doorbells, programmable thermostats, a wireless home security system and lighting control system.”

Three of those five features were security related. Smart home security systems pique buyer interest and add resale value to your property.

Security Systems Tend to Be Successful

Studies have shown that burglars tend to avoid houses with security systems. When multiple houses have these systems, burglars typically avoid those areas altogether. 

One thing to note:

Security measures like a video doorbell or security camera are fixtures. Unless you specify otherwise when planning to sell your home, don’t plan on taking these things with you. Keep in mind, if you do take them with you, you won’t get the benefit of increased home value.

Verdict

Homeowners who don’t feel like their safety is threatened will have to decide if several hundred dollars a year is a worthy cost. But if you want to feel as protected and safe as possible, a home security system is a good investment. Check out reviews.com Best Home Security Systems. You’ll see some financial advantages firsthand and get the peace of mind you’re looking for.

How to Stage a Bedroom

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They say all the world’s a stage and when it comes to selling your house, this is especially true. Staging is a crucial aspect to selling and while we’ve covered bathrooms and kitchens, we’re onto another important part of the house: the bedroom.

Some people turn their bedrooms into an elaborate living space, others treat it as a functional place to catch some Zs and nothing more. No matter where you fall on the spectrum, there are plenty of ways to make sure your bedroom will pique buyers’ interest (instead of turning them away).

Organize your closets.

One of the first things interested buyers will look for in a bedroom is the closet. If you were planning on stuffing everything into your closets as a means of organization, think again. Hang everything up, move dirty laundry elsewhere, and organize shoes.

You can also use this as an opportunity to donate clothes. Since moving is on your horizon, cleaning out your closet and making donations means you’ll have less to pack.

Make sure every bedroom follows the same four rules.

Whether it’s a master bedroom, your 10-year-old’s room, or your teenager’s room where they seem to be a permanent fixture, every room should meet the following expectations:

  1. Make the bed
  2. Clear the floor
  3. Dust all surfaces
  4. Organize and tidy everything else

Your child’s room doesn’t have to look like a Pottery Barn ad, and you certainly don’t have to change out their Minecraft-themed bedding to stage properly. Consistency is more important. 

Keeping consistency in every bedroom puts guests at ease — they know what to expect in each bedroom. This is important because one of the most immediate turn-offs for buyers is when something is out of place or comes across as a surprise.

Don’t forget: the nose knows.

Bedrooms are where we sleep, it’s true. They’re also where we pile our dirty laundry and occasionally wake up, mouth wide-open, with drool all over our pillows. Suffice to say, bedrooms can sometimes contain some unsavory scents. Air things out, light some candles or diffuse some oils, and take care of laundry (and wash sheets) regularly. 

Smell is one of our most powerful senses. Just recently, this writer toured a townhouse for a foreclosed home selling as-is. Everything looked decent until I opened the fridge door to find two rotting eggs inside. Anytime I think of that property, that scent (and subsequent scene) is the first thing I think of. You don’t want your bedroom to have that kind of effect on potential buyers.

Stash valuables and nonessentials.

It’s unlikely that someone touring your home will take anything. All the same, it’s good practice to put a lot of your stuff away — clutter is distracting and distracted buyers quickly lose interest.

Jewelry boxes, picture frames, and other tasteful, small decor can stay out. Toiletries, clothing items, handheld game consoles, iPads, etc. should all go out of sight before buyers or photographers come.

Open blinds and curtains.

Natural light is staging’s best friend. It’s helpful for photographers and appealing to potential buyers. Consider adding a lamp if your room doesn’t get a lot of natural lighting — it’s best to keep things as well-lit as possible. 

What if my bedroom is a disaster zone?

First off, we get it. Bedrooms are where we go after a long day of work. Sometimes all we can do is throw our dirty clothes on the floor and collapse on the bed. Things accumulate over time, and getting multiple bedrooms in order might seem like more trouble than it’s worth.

Regardless of whether your house is spotless or you simply don’t have the time or resources to properly stage your bedroom, list with RealtyHive. You can sell fast, easy, and on your terms with RH — no matter the condition your home is in. Learn more about the benefits of selling with a time-limited event and if you decide to tackle bedroom staging, good luck!