Adirondack Real Estate 101

How To Buy Or Sell Your Home In The Adirondacks

Adirondack Real Estate 101

  1. Any AGENT can show ANY LISTING, ANYWHERE in the state.
  2. Commission is conventionally paid by the SELLER off the sale price, not the buyer.
  3. Commission is split multiple ways and then goes back into the expenses of marketing your home; Agents do not make as much off a sale as assumed.
  4. Listing your property does not cost you anything, sellers only pay commission IF and WHEN the property SELLS.
  5. FSBO’s (For Sale by Owner) often will end up losing money by not hiring a professional REALTOR. It pays to hire a PROFESSIONAL.
  6. A buyer should be pre-approved for a mortgage before the search begins; know what you are able to afford before looking!
  7. You don’t necessarily need a 20% down payment; there are many loan options available.
  8. A mortgage can be the same or LESS monthly than your rent. PUT YOUR MONEY IN YOUR OWN POCKET – not someone else’s.

Sellers:

Why List with Gallo?
All of our agents are members of the National Association of Realtors and are held to a very high standard of ethics and responsibility. Make sure your representative has the REALTOR Trademark Logo on their letterhead, business card and website, and be assured that you are working with a professional.

Our office is open 7 days a week with 6 full time and 3 part time agents in house. We are members of the Warren County Multiple Listing Service, so our listings are exposed to all the Real Estate offices and agents in Warren, Washington and parts of Essex & Saratoga Counties. Our affiliation with the Warren County Board gives us “Realtor” status, and all of our listings are viewable on www.realtor.com. We advertise all of our listings in the monthly North Country Real Estate Guide until they are sold as well as www.trulia.com, www.zillow.com, www.point2homes.com, www.lakehouse.com and www.homesandland.com. Gallo’s website has received many compliments and is very “user-friendly”, our prime location just off the Northway (an office, not our personal residence!) and the fact that there is always a knowledgeable Sales Associate or Broker answering phone calls and providing information to “walk-ins” all contribute to the professional atmosphere Sellers and Buyers alike have come to expect from our firm.

Buyers:

EXCLUSIVE” Does not mean that the agency whose sign is on the property is the only agency that can show or sell the house. The term “Exclusive” refers only to an agreement the agency has with the Seller, and has nothing to do with a Buyer. See below:

An “EXCLUSIVE RIGHT TO SELL” listing means that if you, THE OWNER of the property find a BUYER for your property, or if another BROKER finds a BUYER, you must pay the agreed upon commission to the present BROKER.

An “EXCLUSIVE AGENCY” listing means that if you, the OWNER of the property, find a BUYER, you will not have to pay a commission to the BROKER. However, if another BROKER finds a BUYER, you will owe a commission to both the selling BROKER, and your present BROKER.

MLS – MULTIPLE LISTING SERVICE” All the Realtors in that Multiple Listing Group can show each other’s properties. This way, a BUYER can deal with just one Realtor and not have to go from office to office to see various listings. Gallo Realty has the information and the ability to show almost all of the properties for sale in our immediate area and beyond. Find an agent you trust, give them an idea of what you’re looking for and let them do the leg work for you!

REALTOR” Ask if your agent is a REALTOR. All of our agents are members of the National Association of Realtors and are held to a very high standard of ethics and responsibility. Make sure your representative has the REALTOR Trademark Logo on their letterhead, business card and website, and be assured that you are working with a professional.

“AGENCY DISCLOSURE” A REALTOR must disclose to all BUYERS the nature of their agency relationship and the rights and obligations it creates. Whether your agent is acting as a SELLERS AGENT or a BUYERS AGENT, ” the agent should (a) exercise reasonable skill and care in performance of the agent’s duties: (b) deal honestly, fairly and in good faith; and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law.” In other words, a REALTOR should always be honest and ethical regarding a property, no matter who he/she is representing