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No Risk Home selling
Selling St. Louis Real Estate Effectively
Property Owners are faced with many challenges to overcome in order to get their property sold. Less buyers are pre-approved and have more home choices than ever before. This creates a difficult market for a seller to try to navigate. It is the type of market where utilizing an experienced qualified Realtor will increase your chances of getting your property sold at the price you want in the time you need. View our Full No Risk Home Selling Plan of Action Below!
No Risk Home Selling by Reconnect Realty
Saving on Commissions is easy!
Our Goals are Simple:
- Sell Your Property for the Right Price and Terms
- Sell Your Property in a Reasonable Amount of Time
- Sell Your Property without Problems or Difficulties
- Save you Money with Lower Commissions
To accomplish these goals we have a step by step plan each listing goes through. We do not throw your property on the MLS and forget about it. We are a Discount Brokerage with Full Service Features to give you the best Value for the Price. We will Sell your property with your goals in mind and do it quickly.
View Our No Risk Home Selling Plan of Action Here.
Save With Our Commission Options - Reconnect Realty
Our Services
Being a small independent Brokerage, many of our clients don't realize exactly what we do. That said, here are our services with links to the details. If you are in need of something or have a friend or family member that could benefit from our services, please forward this on!
1. Buyers Agency - We help buyers find the right home at a reduced price!
2. Sell a Property - We have several discounted commission options available from flat rate to full service. Our marketing is unmatched for exposure and our fees are drastically reduced.
3. Property Management - We employ a flexible management system letting the property owner choose from Full Management with Maintenance, without maintenance and leasing only.
4. Leasing Services - We can lease your investment property quickly with a well qualified tenant and there is no monthly fee!
5. Investment Property - Search for Investment Property and foreclosures directly from the MLS or view our hand-picked properties from our weekly investment list.
6. We have Rentals - Looking to rent? Or do you know someone? Send them to our Rental Page to find our ready to rent properties.
7. Commercial Property Sales - Our commercial system is set up to send commercial listings and leases to your directly, contact us to discuss your criteria. We can sell commercial property at our same discounted rates!
8. Hiring Real Estate Agents - We are always looking for licensed Realtors. We offer very high commission splits that result in the agent keeping 100% of the Commission earned. Call for details.
As you can see, there is a lot here so remember us for it all, or pass it along if you know someone who can benefit.
Steve Prane
Broker Associate
Reconnect Realty
(314) 771-4222 Office
(314) 322-1191 Cell
www.findstlouishomes.com
A Strong Lease
A Property Owners lease is possibly the most important document to keep a Rental Property performing well. The lease should provide for Rental Price, Strong Late Fees, Incentives to Pay on-time, Penalties for non-payment and bounced checks, Charges for Maintenance items listed, 60 day minimum notice to vacate, Pets, etc.
The lease will set the tone for the working relationship between the tenant and Property Owner. This tone should be professional but firm. The property owner should be protected from all potential scenarios and the tenant should clearly know what is permitted and what is not.
We can provide a strong lease for all Clients whether it is for Property Management Services of Leasing only. Our lease has been created by legal professionals to hold in cases of evictions, non-payment of rent and abandonment. Plus it will cover many extra items that you may not have thought about including.
To discuss how you can improve your lease or details on ours, contact us anytime!
Steve Prane
Broker Associate
Reconnect Realty
(314) 771-4222 Office
(314) 322-1191 Cell
http://www.findstlouishomes.com
Our Management Process
Our Property Management System
It is important to understand how your property manager will take care of the important details. We have created this step by step guide to our Property Management System to show you how we work. You may have additional questions so feel free to contact us anytime, there is never any obligation.
- We can begin by meeting you at the property to discuss specifics, give you a pricing opinion and discuss any potential issues or questions you may have.
- We will review the management agreement with you making any necessary changes.
- You will get to specify the length of the contract. You may cancel the contract anytime.
- You will get to choose whether we handle your maintenance or you can handle maintenance.
- You will get to limit the per item cost of maintenance before we are required to call to get your approval.
- You will get to specify whether we use your lease or ours. Our lease is favorable for the landlord and may contain some clauses you have not considered. Call for details.
- You will provide us with any documentation for the building: Leases, Occupancy Permits, Contracts, etc. These documents will be uploaded online for you to access securely.
- You will provide us with keys, we can also master the building if you like.
- We will take a detailed profile of the building for our records. This will include any recommended maintenance items for your approval.
- We will send a letter to the tenants introducing ourselves and providing them with instructions on where to pay rent and request maintenance.
- We will Collect Rents and Late Fees. Renters can pay at the office or online.
- We will Personally Show and Lease any vacant units with our Full Leasing System.
- We will field maintenance requests and fix per our management agreement. You will have specified limits.
- We will provide all tenants and owners with Online Access to Leases and Reports.
- We will mail your proceeds check monthly.
- We will periodically inspect the units to make sure the Tenants are maintaining them properly.
- We will coordinate grass service and other regular maintenance.
- We can provide you with data to file to reduce your tax bills.
- We can review your Building Insurance to save you $$.
- You will keep better tenants with longer leases and well maintained buildings.
We also offer Leasing Services with No Monthly Management Fee! Call for Details.
Our Leasing Process
Our Leasing Process Explained
It is important to understand how your rental property will be handled to quickly and effectively fill your vacancy with a qualified tenant. Our complete Leasing System will result in a better tenant or we will find you a new one without cost for the lost rental months. We take great pains to screen all applicants thoroughly and provide you with the best information available. There is Zero Monthly Cost and No Additional Charges, just the normal pricing!
The Leasing System
- We will meet with you prior to signing a contract to assess the property. We will help you price the unit, suggest improvements and discuss any questions you may have.
- We will take photos of the entire property from different angles with a High Quality camera.
- We will take a detailed description of all of the features of the property.
- We will discuss specifics like pet policy, storage or other special items unique to your property.
- Each property will have a Lockbox and Sign unless you specify otherwise. The sign has multiple phone numbers and our Website prominently displayed.
- We will create your Listing on our system for inclusion in our Aggressive Full Marketing.
- We will personally show all units, showings can be scheduled for Same Day, Monday-Saturday in Mornings or Evenings
- Interested Renters are systematically followed up on
- Applications are available at the Showing, on our Website or to Apply Directly Online.
- Our Comprehensive Screening includes: Criminal and Eviction History, Credit Check, Rental History Verification, Income/Employment Verification and Character References
- We review the full application with you and make a recommendation.
- We will negotiate the deposit and move in date with any special instructions you provide.
- We will sign the lease which you can provide or you may use ours.
- We will certify deposit and move in funds and move the tenant into the unit.
- We will provide you with signed copies of Leases, Applications and Identification.
- You Manage the building with Zero Monthly Fees!
Marketing includes:
- FindStLouisHomes.com - Listing Detail, Pictures, Interactive Driving Directions and Map, Quick Online Application, Instant Text Message Response
- Cross Selling - If a Renter calls on another unit, they will also hear about yours provided it is in the price range
- Craigslist - We post daily with a rotation of property driving traffic to all properties
- Backpage - We post daily with rotating property ads to drive traffic to all rentals
- Syndication Partners - Our listings are syndicated to over 30 other websites to drive traffic to your property
- Google Adwords - We gain traffic with important keywords
- River Front Times - We advertise with the RFT for Rentals
- Referral Organizations - We have established relationships with Rent Source, Places for People, Dept. of Mental Health, Shelter Care Plus and many other organizations.
- Flyers - We periodically engage in Flyer campaigns as needed to create demand in specific areas.
We also offer Full Property Management, find out more or contact us today!
Why the Price?
What are some things I should consider when thinking of Buying or Selling a Home?
Selling a home is not the easiest task right now, even though it is traditionally the right time of year to sell. In St. Louis, there are hundreds of homes across the entire metro St. Louis area that expire without selling or even receiving an offer. Adding to the stress for sellers are the multiple price reductions that a Real Estate Agent seems to inevitably ask for. Sellers should look at why they are selecting their agent and why they are selecting their price.
Why pick a particular Agent?
Many people, buyer's and sellers alike, will pick a real estate agent off of a referral from a friend or relative without even looking around or interviewing any other agents. If they don't have a referral, many will just pick an agent who seems to have a lot of advertising. This lack of research into a Realtors experience can result in a buyer or seller not getting the best service. One reason for this is the public perception that Real Estate Agents are all very similar. This is very far from the truth, in that most licensed real estate agents do not have the necessary skills or experience to effectively market, negotiate and smoothly bring to close your purchase or sale. In fact, anyone with time for a few weeks of classes can obtain a license and claim to be an expert Realtor. The reality is that buying and selling real estate is a complicated activity and unless you have handled lots of transactions, bought and sold lots of property and/or renovated or managed many real estate investments, there are too many variables and possible hazardous scenarios for a seller or buyer to trust a novice agent.
Having bought and sold a couple homes in one's lifetime or helped a couple clients is not enough experience. It is important to have conversations with your Realtor. Selecting a Real Estate Agent is like selecting any other financial professional, in that you want them to know everything about their profession, to offer good service for the price and to have a good rapport while you are working together. Many Agents have their image together and their rapport with their clients but lack the necessary experience to help their client get those extras that only an experienced Realtor can. By having several conversations and asking many questions, a Seller or Buyer can accurately tell if their Agent is going to be the right choice.
Why did my Agent recommend a certain Price?
Realtors use data to reel in potential clients. A Seller can speak with several agents and even appraisers and get several different potential prices for their home. This happens from the abundance of data available, in addition to the motives of the Real Estate Agent. By promising a higher price, an agent can lock up the listing contract while making the Seller very happy that they found the agent that will get them this price. The truth is that an Agent does not get a price. In fact there are many variables that will determine the actual price of the home. Some of these variables include the time of year for the sale, the neighborhood, the condition of the home inside and out, the layout and size, additional or special features of the home, the economy, how many foreclosures are around, how many renovations are around plus many more. In action, the Real Estate agent that promised a high price many times will come back in a month or two for a price reduction. At that point, the seller is already locked up into contract and faced with reasons the old price was incorrect, which of course is never the agent mis-pricing.
This is not to say that a seller shouldn't be faced with price reductions, or that an agent is not allowed to ask for them. Sellers should simply be very aware of both the data used and the actual features, location, neighborhood, etc. for their particular home. Like I mentioned before, the data was probably there to justify the higher price. Seller's like to hear their home is worth more. If an agent tells them he can get a higher than correct price, it is easy for a Seller to get excited. A true professional will educate the Seller about potential quirks or issues regarding their home. The professional will not promise a price for the sake of the listing, instead opting to accurately illustrate the positive and negative features of the the home/area/etc to accurately price the property. This may not be exactly what the Seller wants to hear at first, but it will result in a quicker sale at a price the other agent would have gotten the seller to reduce to anyway. Plus it saves lots of headaches and stress for a Seller to know they have chosen the right price and the right Realtor. And by having several conversations with your Realtor, you will have plenty of time to know that they are the right choice.
Reconnect Realty offers Sellers and Buyers in St. Louis and St. Louis County Professional Services at an affordable price.
Steve Prane
Broker
Reconnect Realty
(314) 771-4222
http://www.FindStLouisHomes.com
Is Your Agent Working For You?
Real Estate Agents are all Different
Recently I was engaged as a Buyers Agent for a client who was a family member of another client. We had looked for several months as it was an older couple looking for a retirement home and they had some very specific requirements. We finally found the home they would eventually buy and made an offer to purchase. The offer my clients made was based on condition of the home and comparable sales data provided by myself. This data and their offer was an accurate representation of where the home should have been priced. However, the offer was significantly below the listing price. This offer did not sit well with the listing agent.
Once an offer is submitted, the agents begin to talk with each other about their respective clients. This is where a lot of information can be gained to help out our clients negotiation. A good agent will protect their clients position only revealing what is necessary to get the contract accepted and not disclosing anything about the price the client is willing to pay. This particular Seller's Agent would try to probe me for information to relay back to the seller, however, I was able to dodge the questions and keep our negotiation on track. The Sellers Agent had also tried to justify the overpricing by mentioning features to the lot and home that were irrelevant to the price. A new or inexperienced agent might allow the Seller's Agent to influence their communication with the Buyer resulting in a better price for the Seller. This does not happen with Reconnect Realty. The Seller ended up accepting the offer $32,000 below list price which was 89% of List, although this did take a few weeks to accomplish. This was good for my client but the negotiating was not finished yet.
Our next step was to get through the inspections and request items the buyer felt were needing to be taken care of by the seller. We submitted our requests and again the Sellers Agent was not happy. Anytime you ask the Seller to reduce or fix something, it reduces their end price for the property so naturally they are not going to want to fix things. It also means the Sellers Agent has more work to do. This Sellers Agent again tried to bully us to believe that my client should not have asked for certain repairs. They had forgotten that everything is negotiable in Real Estate. We believe that if our client asks for something or are uncomfortable with a scenario, then we are going to do what is necessary to correct the issue. Again, it took some negotiating but we were able to get the Seller to agree to many important repairs and deferred maintenance items which saved my clients over a thousand dollars!
What is important about this story is how a Seller's Agent can influence a Buyer's Agent if the Buyer's Agent is not experienced at negotiating. Price and Terms are able to be influenced so a Buyer or Seller needs to be careful about who they select to negotiate for them. Negotiating is a skill that takes time to develop. A little preparation and a few conversations can save a client Tens of Thousands of Dollars and make a purchase easier to close.
Steve Prane
Broker
Reconnect Realty
(314) 771-4222
http://www.FindStLouisHomes.com
Tenant Screening Works!
Cash is not King!
There are many costs that accrue when managing rental property in St. Louis. Two of the largest are Vacancy, the daily loss of rent from a vacant unit, and the renovation of a unit after a bad tenant leaves. These two costs can place a Landlord under a lot of pressure to place the first prospective tenant that comes along. Especially if that Tenant is willing to put down a good deposit. It is very easy to be tempted by large deposits or pre-paid rent when placing tenants in your property. Many renters rely on this tactic to get them into their next unit in an attempt to avoid the screening process. They are looking for Landlords who will put them in without an application and are usually in a rush to find a place. Be careful around Tenants offering cash to move in right now.
What is Good Tenant Screening?
St. Louis has a large renting population. This is good for landlords since there is more opportunity to get their unit filled. At the same time, there are more renters who have developed a habit of taking advantage of Landlords. These tenants believe they have the anonymity in the large rental market. Good Tenant Screening will not only tell a Landlord about a Renters past but will offer insight into the future relationship the Landlord and Tenant will have together. A Landlord should have a good idea of the risks associated with each Tenant prior to moving the Tenant into a rental unit.
What Steps Should a Landlord Take to Screen?
Landlords are generally supplied with information by the Renter about the Renters history. This gives the Landlord a good basis of information to start with but should be verified as sometimes Renters include false information. A Landlord should begin by checking Criminal and Eviction history. There are databases in each community that hold court information. Sometimes there is a subscription charge to access the data but many communities offer the information for free online, or you can always visit the courts directly.
Once you have verified the criminal and eviction history, A Landlord should pull the Renters credit. During the eviction and criminal check there may have been some similarly named individuals with cases. The Landlord needs to verify these people are not the same as their applicant. To do this you can cross reference the addresses on the Case File against the past addresses on the credit file to determine if this is the same person. If there is no criminal or eviction history, then you would review the credit accounts to get a picture of how the individual pays their bills. You may not pay as much attention to the Credit Score as this is not the best indicator for whether a Renter will pay their rent. Look for unpaid utility bills, judgements from individuals or Management Companies and whether they don't pay anything on time or pay some things on time. This report is used as a loose indicator for future payment history.
The next bit of information to check out is the Renters Rental history. Here the Renter has supplied the names and phone numbers of past Landlords. You will need to verify these past Landlords are actual Owners of the property, as this is a common area of false information. You can check Tax Records to find out who owns the building of their previous or current apartment and the names should match the name on the application. If the Landlord reference is a company, make sure the company is listed in the phonebook and the number you are calling is not a cell phone, call the main office.
When interviewing past Landlords for references, do not lead the Landlords with your questions. Ask about payment history, rent payment amount, how long were they tenants, were their any complaints, did they get the deposit back, if the Landlord is a friend or related, would they re-rent and if there is any other helpful information they can provide. You should ask open ended questions on the phone or submit a faxed questionnaire that does the same thing. If they are not answering too completely, don't be afraid to ask them to elaborate. If they answered the questionnaire incompletely, call them for clarification. This is probably the most important information you can obtain so get as much information as you can. Take notes while you are talking for later reference.
After Rental History, you will verify income and employment. You will generally have to fax a questionnaire but some employers will give information over the phone. If you have a chance to speak with someone, take the time to try to squeeze out a character reference from their employer, this will give you insight into their working habits, although this is not always possible in large companies. Questions you should ask are when they started, full time or part time, hours worked per week, are they going to remain employed, what their salary/hourly rate is and whether they are generally a good employee.
Sometimes you may elect to talk to character references. Good character references are non-personal contacts who have a non-emotional third party perspective on our Renter. Someone like a teacher, employer, supervisor etc. These can be used to fill out questions regarding the Renters personality and what it will be like to interact with this person. Feel free to ask open ended questions and make people elaborate if you have any questions.
So Whats the End Result?
At the end of the process, you should have a clear picture of what type of person your Renter may be. How they pay their debts, how much they make, how they interacted with their employers and past landlords and how they carry themselves on a day to day basis. With the amount of information you should have identified risks, like not enough income, lack of rental history, unstable job history, criminal/eviction history. This should allow you to make an informed decision if it is worth the risk.
Reconnect Realty provides Tenant Screening, Property Management and Leasing.
Information provided by:
Steve Prane
Broker
Reconnect Realty
(314) 771-4222
http://www.FindStLouisHomes.com
An Interesting Fix
Have you ever seen the Fog inside a Sealed Window?
Recently, while helping a client place a very nice home for sale under contract. Upon the initial showing of the home we discovered that the very nice large windows in kitchen were covered with curtains for a reason. The 3 light filled double pane windows all had a fog built up inside of the windows. Now, if you are familiar with double pane windows, you know there is no way for us to clean the insides. Most people think the only way to correct this is to replace the windows. The cost to replace a 6 foot by 3 foot double pane window is probably $600-$700 dollars each. That's pretty expensive.
There is a different way to approach the problem. There is a process, typically done by a professional, where small holes are drilled in the corners of the window. The windows are then filled with a cleaning solution and then drained, thus removing the film. The holes are then covered by a screen so debris doesn't enter the window, but also so the moisture can evaporate. This eliminates the fog from between the windows and costs less than replacement.
The downside is the windows are not returned to complete energy efficiency. And there are certain types of windows that this process will not work on, thereby increasing the cost of repair. But this fix could result in saving hundreds of dollars and satisfy the homeowner which really is the most important thing. It goes to show there is always more than one way to solve a problem.
Steve Prane
Broker
Reconnect Realty
(314) 771-4222
www.findstlouishomes.com
