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Richard Iarossi
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Direct Office:
443-995-9595
richard.iarossi@
cbmove.com
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Buyers Info
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If you don’t find answers to your questions here just give me a call on my cellphone at 443-995-9595.

Can I work with more than one real estate agent?
Absolutely, but I probably won’t be one of them. Buying an Annapolis or Crofton home is no different in that regard from any other real estate market. I work hard for my clients and all I ask in return is some loyalty. Its not fair to me, or any agent for that matter, to do all the research and analysis, only for a client to write a contract with someone else. Cousin, neighbor, friend, etc. When you work with multiple agents, none of them are really working that hard to help you find a home.

How do real estate agents get paid?
In the Annapolis MD Real Estate market traditional real estate agents typically get paid from the sellers proceeds of a sale? That figure is determined by the listing contract and the coop fee in the Multiple Listing Service. There are a small number of agents who work exclusively with buyers and their business model frequently has the buyer pay their commission and then try and negotiate a price reduction with the seller to accommodate having to pay their commission.

Can you only show me Coldwell Banker Residential Brokerage listings?
No, all of the major brokerages belong to the Multiple Listing Service and have agreements to show each other’s listings. There are a very small number of listings that are exclusive to one broker. Also, keep in mind that I can show you For Sale by Owner and New Construction as well. Don’t leave home without your agent.

I’m searching on the Internet but most of the houses are not available when I call.
This is one of the most frequent complaints I get from Annapolis and Bowie home buying customers calling about properties they find on the internet. The internet should only be one strategy you use if you’re serious about finding a home. The most important strategy is to first select a real estate agent who will be proactive in finding you a home. Your REALTOR® should be emailing you listings as soon as they come into the MLS system and before internet sites are updated.

Back to the internet sites…many of them usually update their sites once a day. They are generally good about putting new listings in but aren’t as good when it comes to updating a listing when a contract is accepted. This is frustrating to customers who find a listing on their favorite website and then call only to find out it is already under contract. The information is free to you and you’re getting what you pay for.

The most accurate source of real estate information is your REALTOR® who subscribes to the Multiple Listing Service.

Will I be working with you or someone else?
Good or bad its going to be with me. I’m not part of a team and I only work with the number of clients I can comfortably accommodate at one time. Of course there are occasional times when I may not be available when you want and in those cases I’ll refer you to a qualified Realtor that I know and trust who can help you

Will I have to sign one of those Exclusive Buyer Agreements?
Yes.

If I don’t sign an Exclusive Buyer Agreement but still want you to work with me, can you do that?
Probably not.

Can you help me get a loan?
Yes. Over the years I’ve cultivated relationships with several local lenders.

What if it doesn’t work out between us?
If it doesn’t work out between us, for whatever reason, then we both move on. I don’t discriminate against clients but there are rare times that I find that I cannot help them. Life is too short to put yourself through those kinds of hassles. Whether its a listing agreement or a buyers agency agreement you or I can cancel with one day’s written notice. Of course there is some protection built into the listing agreement wherein if you cancel the agreement you won’t be able to sell the house to anyone that crossed the threshold as a result of my marketing efforts for a period of time. That’s only fair.

Will you offer me a commission discount like the agent down the street?
“To obtain the highest price possible for your property, you need someone who is a skillful negotiator-isn’t that correct? So if you hire an agent who can’t even negotiate a full commission on their own behalf, how effective do you think they will be in negotiating the maximum price for your property?”

By the way…some Realtors down the street should reduce their commissions :>)

How easy is it to reach you?
You will get all my numbers…office phone, home office phone, cell phone, home phone, office fax, home fax, email addresses, web site. When I’m not with a client I don’t screen calls.

What’s the best Web Site to use to search for homes?
From a self-serving perspective I would say this one. Here’s the deal…Realtor.com gets a lot of visitors every month but keep in mind real estate is local. If you’re interested in finding a home in Wyoming or Texas than by all means visit Realtor.com. If you’re interested in finding a home in Maryland than search on my site. Sure Realtor.com has more listings than any other site…but they aren’t in Maryland where you’re looking to buy a home. I believe that if you’re looking for the most comprehensive set of active listings available to the public this is the place to be.

What’s the deal with bank owned properties?
Frequently, bank owned properties are foreclosures. The bank has gone through the legal process of foreclosing and the property has reverted back to them as outlined in the Deed of Trust.

Foreclosures differ from a traditional residential contract of sale. The first difference is that the bank may require a pre-approval from their representative. Although you don’t have to use that lender to purchase the home you will be required to provide a good deal of information to their representative. Some believe that this could affect your ability to negotiate.

Bank owned properties are “as is” sales. They will not fix anything that a home inspector may uncover. This makes it even more important that you get a home inspection.

Banks take their own time to respond. If you’re looking for quick answers foreclosures and short sales are not where you’re going to find them.

Although they can be a challenge for both a buyer and real estate agent, foreclosures may be a good investment.