A Community Newsletter by Sharmila Green:
Sharmila Green
at Keller Williams Realty River Cities
(334) 559-8097 sharmilagreen@kw.com
https://sgreen.kw.com Columbus, GA
English / Spanish
SEE PROPERTIES FOR SALE
OR FOR RENT HERE
With over 16 years in real estate and property management background, I am constantly looking for ways to improve my business and understand my clients' requirements, especially when they are searching for their dream home.
Experienced Licensed Real Estate Broker with a demonstrated history of working in the real estate industry. Skilled in Negotiation, Management, Sales, Business Strategy, and Contract Negotiation. Strong real estate professional with a Master of Business Administration (M.B.A.) focused in Business Administration and Management, General from Nova Southeastern University.
In this Edition
Part One:
Your First-Time Home Buyer's Guide
Introduction
As shared in the second edition of Your First Home, written by Gary Keller and Jay Papasan:
“Buying a home is a big decision – particularly your first home – but it is one of the best choices anyone can make. It’s a place that is entirely your own. Something you can paint, renovate, and live a full life in. Secondly, the reality is that homes are an incredible way to accumulate generational wealth. Because home isn’t only where your heart is, it’s where your money is, too. There are few places you will treasure more than your home and no place that will add more to your personal treasury.”
While the prospect of homeownership is exciting, it can also be filled with complexities as you embark on the journey for the very first time. Yet, have no fear! Below you’ll find part one of a complete guide to first-time homebuying, courtesy of Your First Home.
When finished, head over to part two, here.Deciding to Buy
First-time homebuyer fears can range from “I can’t afford to buy a home” to “I can’t buy a home because my credit score is too bad.” While it can be natural to have these thoughts, it’s important to face fears with facts. Let’s take affordability, for instance.
As Keller and Papasan write, “Until you do the math, you don’t know what you can or can’t afford. If you are currently paying rent, generally you can afford to buy. From a financial point of view, in the United States, the tax savings on mortgage interest alone usually make up most of the difference between rent and a mortgage payment – the tax write-offs you get at the end of year will generally help you save a significant amount of money.”
Whenever a fear comes to mind, explore with curiosity and get set on finding the facts.Finding Your Agent
The legal, financing, and regulatory aspects of real estate transactions are very involved. To provide as much protection as possible for you, it’s wise to find a licensed real estate agent. They will serve as an advocate for you and your interests throughout the entirety of the homebuying process. Their job is about much more than simply finding you the right home; it’s about listening to your needs, anticipating problems, and maintaining standards.
The main duties of your real estate agent include:
Educating you about your market. Analyzing your wants and needs. Guiding you to homes that fit your criteria. Coordinating the work of other needed professionals. Negotiating on your behalf. Checking and double-checking paperwork and deadlines. Solving any problems that may arise.
Here are a couple of questions to ask as you look for a real estate agent:
Why did you become a real estate agent? Why should I work with you? What process will you use to help me find the right home for my wants and needs?
Because home isn’t only where your heart is, it’s where your money is, too. There are few places you will treasure more than your home and no place that will add more to your personal treasury.
Securing Financing
Although virtually everyone finds the thought of owning their first home exciting, taking out a mortgage can be a daunting prospect. In general, you’ll probably discover that mortgage loans are less confusing than you might think. The differences between each type of mortgage loan boil down to four basic factors:
Down payment - Down payment - The initial payment you make toward your home. It’s calculated as a percentage of the entire cost of the house. Historically, homebuyers have been asked to put 20% down, and it has its advantages as it frees you up from private mortgage insurance or “PMI.” But, it’s not necessary. In fact, you can put as little as 5% down (or less) to still own a home! And, you can leverage down payment assistance programs, too. [LR3] Interest rate - An interest rate [LR4] is a fee or amount charged by a lender and is usually a percentage of the loan amount. Interest rates are implemented when we use credit for a purchase. And, like credit card rates, home loan interest rates are variable – they change with the market. In general, people want the lowest interest rate possible because that means they’re paying less money in interest over the life of the loan. In addition to saving you thousands in the long term, a lower rate will also reduce the amount you pay each month. Term - A mortgage loan’s term will determine how much interest you pay over the life of the loan and how quickly you build equity by paying it down. Different mortgages come with different schedules around repayment. In the case of fixed-rate mortgages, loans are scheduled for repayment over larger swaths of time, like 15, 20, or 30 years. Shorter-term loans are good for people who want to build equity quickly and who can afford a higher monthly payment.
As shared in the second edition of Your First Home, written by Gary Keller and Jay Papasan:
“Buying a home is a big decision – particularly your first home – but it is one of the best choices anyone can make. It’s a place that is entirely your own. Something you can paint, renovate, and live a full life in. Secondly, the reality is that homes are an incredible way to accumulate generational wealth. Because home isn’t only where your heart is, it’s where your money is, too. There are few places you will treasure more than your home and no place that will add more to your personal treasury.”
While the prospect of homeownership is exciting, it can also be filled with complexities as you embark on the journey for the very first time. Yet, have no fear! Below you’ll find part one of a complete guide to first-time homebuying, courtesy of Your First Home.
When finished, head over to part two, here.Deciding to Buy
First-time homebuyer fears can range from “I can’t afford to buy a home” to “I can’t buy a home because my credit score is too bad.” While it can be natural to have these thoughts, it’s important to face fears with facts. Let’s take affordability, for instance.
As Keller and Papasan write, “Until you do the math, you don’t know what you can or can’t afford. If you are currently paying rent, generally you can afford to buy. From a financial point of view, in the United States, the tax savings on mortgage interest alone usually make up most of the difference between rent and a mortgage payment – the tax write-offs you get at the end of year will generally help you save a significant amount of money.”
Whenever a fear comes to mind, explore with curiosity and get set on finding the facts.Finding Your Agent
The legal, financing, and regulatory aspects of real estate transactions are very involved. To provide as much protection as possible for you, it’s wise to find a licensed real estate agent. They will serve as an advocate for you and your interests throughout the entirety of the homebuying process. Their job is about much more than simply finding you the right home; it’s about listening to your needs, anticipating problems, and maintaining standards.
The main duties of your real estate agent include:
Educating you about your market. Analyzing your wants and needs. Guiding you to homes that fit your criteria. Coordinating the work of other needed professionals. Negotiating on your behalf. Checking and double-checking paperwork and deadlines. Solving any problems that may arise.
Here are a couple of questions to ask as you look for a real estate agent:
Why did you become a real estate agent? Why should I work with you? What process will you use to help me find the right home for my wants and needs?
Because home isn’t only where your heart is, it’s where your money is, too. There are few places you will treasure more than your home and no place that will add more to your personal treasury.
Securing Financing
Although virtually everyone finds the thought of owning their first home exciting, taking out a mortgage can be a daunting prospect. In general, you’ll probably discover that mortgage loans are less confusing than you might think. The differences between each type of mortgage loan boil down to four basic factors:
Down payment - Down payment - The initial payment you make toward your home. It’s calculated as a percentage of the entire cost of the house. Historically, homebuyers have been asked to put 20% down, and it has its advantages as it frees you up from private mortgage insurance or “PMI.” But, it’s not necessary. In fact, you can put as little as 5% down (or less) to still own a home! And, you can leverage down payment assistance programs, too. [LR3] Interest rate - An interest rate [LR4] is a fee or amount charged by a lender and is usually a percentage of the loan amount. Interest rates are implemented when we use credit for a purchase. And, like credit card rates, home loan interest rates are variable – they change with the market. In general, people want the lowest interest rate possible because that means they’re paying less money in interest over the life of the loan. In addition to saving you thousands in the long term, a lower rate will also reduce the amount you pay each month. Term - A mortgage loan’s term will determine how much interest you pay over the life of the loan and how quickly you build equity by paying it down. Different mortgages come with different schedules around repayment. In the case of fixed-rate mortgages, loans are scheduled for repayment over larger swaths of time, like 15, 20, or 30 years. Shorter-term loans are good for people who want to build equity quickly and who can afford a higher monthly payment.
7 Things You Should Never Say in a Negotiation According to Experts
1. “I’ll do you a favor” A really off-putting thing to say is that you’re doing the client or customer a “favor” by offering them your best price. This completely undermines the relationship you’re trying to build with your client and implies that you’re in a position of power and that they should be grateful for your offer. “In reality, good negotiations are all about collaboration and finding a win-win situation. No one wants to feel like they’re being patronized or not valued in the conversation. Stop talking about “favors” and focus on how you can work together to find a solution that works for everyone.
2. “I hope…” “I hope” can diminish your credibility as a salesperson. It suggests uncertainty about your ability to deliver. Instead of saying “I hope,” try saying “I’ll do everything in my power to give you the results you need.” This statement embodies trust and commitment. It’s a more powerful way to assure your client that you’ll work hard to meet their expectations without making a promise. In this case, they will feel more secure and not expect definitive results, which often leads to negative relationships and failed negotiations if promises are not kept.
3. “This is non-negotiable.” Avoid saying “This is non-negotiable” or “You must decide now.” These types of phrases can shut down the conversation and create tension. Instead, emphasizing openness and exploring options together fosters a collaborative atmosphere. Approach every negotiation with the mindset that flexibility and understanding pave the way to mutual success. It’s about creating solutions that work for everyone, not just sticking to rigid terms.
4. “…just for you.” We can make this deal happen just for you. Sure, it sounds like you’re rolling out the red carpet, but here’s the thing: clients are smart! They know when they’re being sweet-talked. By making it seem like they’re getting an exclusive, secret deal, they may wonder what’s going on with everyone else’s deals. Are they really getting something special, or are you just desperate to close the deal? That little touch of sarcasm may seem like a charm offensive, but it could end up making them question your credibility. It’s better to keep things transparent and let your product or service speak for itself, rather than trying to woo them with a deal that seems too good to be true.
5. “Trust me.” Never say “you can trust me” during a sales negotiation. Have you noticed that sometimes a buyer doesn’t seem fully engaged? Often, it’s because there’s a basic assumption that salespeople aren’t trustworthy, fueled by endless media stories about scams and rip-offs. This skepticism can erode your credibility, extend the sales process, and ultimately cost you sales. Telling a potential client to “trust you” doesn’t actually build trust and can even backfire. People tend to believe what they can see, not just what they hear. Always provide written material to back up what you say during a presentation or proposal. Make sure you use third-party materials when you can to gather facts to back up your points—this adds an extra layer of credibility. And it’s critical to document everything that is said, offered, proposed, promised, suggested, and implied during the negotiation. This transparency helps build genuine trust.
6. “This is our final offer” Sales experts understand that the words you choose in a negotiation can significantly affect the outcome. One thing you should never say is, “This is our final offer,” unless you mean it. "Using this phrase too early or as a bluff can corner you into a position where you have to back down (which undermines your credibility) or maintain a stance that might not be in your best interest.
7. "Let's work out the details later." One thing you should never say in a negotiation is, "Let's work out the details later." Don't make the mistake of agreeing to general terms without nailing down the details, only to find out later that the understandings were very different. This can cause delays and almost derail the deal. Insist on clarity from the start, making sure all the details are agreed upon before moving forward. This prevents misunderstandings and builds trust, showing the other side that you're serious about delivering exactly what you promise.
Imagination
Imagine the energy you have when life is working. Imagine your life the way you want it to be. Your imagination has energy. Don't ignore it.It's a very powerful tool. We would never have phones, light bulbs, cars, airplanes, computers, etc., if someone didn't have imagination. The only difference between the people who created these things and you and me is that they paid attention to their imagination and took action. I bet there have been many times in your life when you've sat down and analyzed your life and said to yourself, "Why didn't I think of that?" Use your imagination to turn dreams into reality.
If you can't imagine your life being better, it probably won't happen. If you can't imagine yourself having more energy, it probably won't happen. Imagination is wonderful. If you've lost your imagination, spend time with young children and you'll find it again. They can take pieces of paper and make sailboats. They can take animal brochures that come in the mail and play with them for hours. They can play hide and seek in the car. Children have amazing imaginations.
If you can't imagine your life being better, it probably won't happen. If you can't imagine yourself having more energy, it probably won't happen. Imagination is wonderful. If you've lost your imagination, spend time with young children and you'll find it again. They can take pieces of paper and make sailboats. They can take animal brochures that come in the mail and play with them for hours. They can play hide and seek in the car. Children have amazing imaginations.
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