Q. Who is Tiered Real Estate?
A. Tiered Real Estate is a real estate company that offers full service at a discount price. We believe that more money should stay in the hands of the homeowners as well as the Realtors that do the work for the homeowners, and not with the Company.
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Q. Why should I use a Realtor? Can't I just watch for homes in the newspaper?
A. You can always watch for homes in the newspaper, but newspapers and homes for sale magazines take time to produce and are not accurate to this moment. In addition, many websites offer information about homes that are not even available just to try and get you to call them. If you use a Realtor, then you always have the opportunity to have up-to-the-minute information. You always know what is available in your area and you get a great deal of information about those properties. Realtors are also professionals, whose job is to help you buy and sell homes. You would go to a Doctor to have your appendix removed, why not use a Realtor to buy or sell a home?
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Q. I saw a home that is listed by another broker or office. Do I have to call them to go see it?
A. No. We can show you any home listed for sale by any broker. That is the power of the MLS and using a Realtor.
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Q. What is the MLS?
A. The MLS, or Multiple Listing Service, is a database that has all of the area homes for sale by all of the offices. We can search all of these homes to help you find homes that match what you are looking for. If you are selling, we can help you price your home with a CMA taken from this data. We also list the information about your home in the MLS so that more buyers can find it and help you sell your home faster.
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Q. What is a CMA?
A. A CMA (or Comparative Market Analysis) is a report that Realtors use to determine how much your home may be worth in the open market. It is an estimation of your home's value determined by comparing it to homes that have sold in your area that have similar features. It helps guide you on a price for your home as well as if homes that you want to buy may be priced correctly.
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Q. Is a CMA the same as an appraisal?
A. No, only certified appraisers can give you an official appraisal. Realtors offer CMAs to let you know how much your home may be worth in the open market.
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Q. Do I need a lawyer to buy or sell a home?
A. It is highly recommended that you use a lawyer in every Real Estate transaction. Realtors are not lawyers. Only lawyers can protect your best interests after you have signed a contract to buy or sell your home.
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Q. I am buying a home. Do I need a home inspection?
A. It is highly recommended that you get a home inspection every time that you buy a home. A home inspector is licensed with the state of Illinois and is trained to notice the exact condition of a home. They are also knowledgeable about how much repairs might cost, if they are typical or not and if there may be problems in the future. Inspectors also provide a wealth of knowledge about common home maintenance.
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Q. I don't know any lawyers, mortgage agents, or home inspectors. Can you help find one?
A. We would be happy to provide you with a selection of names in our area that could help you.
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Q. How do I get pre-qualified for a mortgage?
A. Contact several banks to see what programs they offer and how much their interest rates currently are.
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Q. I want to buy a home. How much do I have to pay you to buy a home?
A. Nothing. The seller pays for both the buyers agent as well as the sellers agent.
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Q. I am selling my home. Where does all of that commission go?
A. The selling commission is divided in 4 ways. It pays the selling office, the selling agent, the buying office and the buying agent.
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Q. What do I have to do to buy a home?
A. Contact us and tell us what you are looking for in a home. We will find all of the homes available for you that match the criteria that you have established. Then we will set up a time for us to go and view the homes. When you find a home that you like, we make an offer. Once the offer is accepted, you obtain a mortgage and a home inspection and start packing!
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Q. What do I have to do to sell a home?
A. Contact us and tell us about your home. We will meet with you and provide you with a free CMA to help guide you on pricing your home. Once you sign the paperwork for us to get started, you keep your home ready to show and wait for an offer. Once an offer is in, we will negotiate the offer until it is acceptable and then you start packing!
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Q. How long does it take to sell a home?
A. It varies depending on area, price and the home itself. The average time is about 2-1/2 months (from the day it is listed until the closing day). If a home is priced right, it can sell in a matter of days!
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Q. The offer has been accepted. How long will it take to close on the house (before the buyer actually owns it and the seller actually moves out)?
A. Again, the time varies in each case. A good estimate is about 30 days so that the mortgages can be arranged, and all of the paperwork can be prepared.
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Q. What is a home warranty? Why should I get one?
A. A home warranty is a plan that you purchase for the buyer of your home that protects them from major problems for a specified period of time. Home buyers are really attracted to home warranties, because it takes some of the fear out of owning your home. With a home warranty, a buyer knows that if something major goes wrong, it will be repaired. It is a great selling feature on any home.
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Q. What is the best time to buy or sell a home?
A. Right now! No one can be certain what the housing market will do in the future. Someone could discover gold in their backyard and the homes might double in price (great for sellers but bad for buyers). However, a local business could move out and home prices might be cut in half (good for any buyers that might be in that market but bad for sellers). Most importantly, interest rates could go up or they could go down. Both have a major impact on the market. The one thing that we do know is what is happening today.
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Q. Can you sell my house, I don't live in your town?
A. We are licensed for the entire state of Illinois. We can directly help you buy or sell any home within the state. If you are looking for property outside the state, we can help you find an agent that can assist you in that state.
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Q. I want to invest in homes. What do I do?
A. First, determine how much you can invest. Then let us know about the homes that you are looking for and we will help you find those homes. Much like a person buying a home to live in, we operate in the same way. The biggest change is in financing. We can refer you to some area lenders who may be able to help you with the financing.
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Q. I want to be an agent. What do I do?
A. You have to take a pre-license course that is recognized by the state. They are available in many ways (colleges, internet courses, weekend courses). Each style of learning appeals to different people. Once you pass the class, you take the state licensing exam.
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Q. I am an agent and I want to join your office. Why should I join you?
A. We believe that agents should be allowed to keep the majority of their money. We offer very competitive plans including an 80%-20% split with no monthly fees. We also offer a 100% plan where you keep all of your commissions for a flat $295 per month. If you are a new agent, we also support you with new agent training to help you understand the business and how to succeed at it!
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Q. I have my brokers license and want to start my own business. Can I start a Tiered Real Estate office?
A. Yes. Contact us about how easy it is to join the network. We offer very low fees for branch offices as well as a support structure that reinvests and supports you and your business. When we meet we can discuss all of the details involved.
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Q. I am a broker/owner and I want to join the Tiered Real Estate network. Can my office become a Tiered Real Estate office?
A. Yes. Contact us about how easy it is to join our network. Again, we offer very low fees as well as a support structure that reinvests and supports you and your office! When we meet we can discuss all of the details involved.
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