This service-name was originated by our company because it best described our approach to the business of providing powerful real estate services to our Utah customers and clients. This applies to the sale of houses, lots, land and commercial properties throughout the State of Utah but more specifically in the greater Salt Lake area.
Let us share a couple of thoughts about the meaning of our name and our services. Our website is called Utah Realty because it is descriptive of our focus on services to buyers and sellers of real estate in Utah and the Salt Lake area.
There are two types of tangible property described in legal definitions. Traditionally, one type is personal property, which is movable in its most general sense. It has been referred to as “personalty
” since old English times. The other type of tangible property is real estate and is traditionally called “realty
”. It is not a contraction of the words, real estate, but it is an original word.
Because our company focuses on real estate transactions in the broadest meaning and because the word, realty, is not self limiting it is appropriate to describe our services with this word. Hence, our full name describes, in simplicity, that we provide real estate or realty services for the sale of homes and other property in Utah. We help people find homes for sale and sell homes quicker and easier.
Our core staff members possess over 70 years of real estate marketing experience. Our experience includes single family homes for sale, land for sale, development of subdivisions and office development.
Now, lets get back to the idea that we are a solution-driven company. We use the word, solutions, as part of our service motto because real estate transactions can frequently be challenging — even to those having extensive experience with homes for sale. So, we think it would be helpful to talk about a few of the typical challenges and describe our solution-driven approach to helping buyers and sellers of homes and all the other forms of real estate available through this site.
The challenges could be separated into two classes. The first class pertains to marketing challenges while the second class pertains to transactional challenges.
I. Marketing Challenges
We will discuss a few of these challenges in the form questions and answers.
What kind of listing is best?
Instead of offering just one kind of listing — the MLS listing — we offer three kinds of marketing services so that each Utah home seller can feel that he or she can obtain the best fit for their needs.
What type of service agreement do you offer that provides the greatest exposure to reach the most potential buyers?
The first kind of agreement is the premium MLS service authorization. This allows each home seller the broadest marketing available. MLS stands for Multiple Listing Service (See our Real Estate 101). Through that agreement, the Utah home seller authorizes our company to place the information in the database of the MLS so it is then available to all members of the service. Most house brokers are members so the information becomes instantly available to the vast majority of real estate companies in Utah. Exposure is key to getting the best offers and that service is extraordinarily important for that purpose.
What is the second type of service agreement that you offer and how does it help to give broad exposure?
The second kind of agreement is called a Flat Rate MLS service. It is called Flat-Rate because its cost is based on a low single rate service fee. Nevertheless, it still allows the use of the MLS system. Here is how it works. Instead of the premium MLS solution on a contingent fee basis where a full fee is charged when the house sells the Flat-Rate fee is only 1% of the sales price. A $500 fee is due at signing and the balance of the 1% is payable when the home sells. This fee is a fraction of typical real estate fees for selling a home in Utah. So the Utah home seller gets the full exposure of the MLS and is charged a fraction of the usual cost.
What if a home-owner wants to upgrade to the premium service? That’s is no problem. The seller may do so with full credit for the initial payment. So there is nothing to lose. The home-owner will do some of the scheduling and some other arrangements in exchange for the lower fee for this service.
What is the third type of service that you offer?
It is a For-Sale-By-Owner (FSBO) service without any service agreement. A seller of a home or other property uses this web-site to put their home into our database as a FSBO. It can remain in the site as long as it is actively marketed. Pictures can be placed here. However, there is no additional service offered by our company. If that seems best for the seller we are happy to allow the home seller to experiment with self marketing. It is possible, however, that our company could locate a potential buyer and could arrange a single party authorization to help that seller. It is also possible that when the seller gets to know what we can do through other marketing arrangements they would feel at home upgrading with us.
What about the price for selling the home?
We can assist with an estimated market value through the help of MLS comparable sales information. The service is called a CMA (Comparative Market Analysis). While it is not an appraisal it is a good window into the information on homes that the seller and our staff would see as being comparable. The resulting data offers a range of values that the seller may elect to use for offering their home for sale.
What if I change my mind about selling or become unhappy with service? Is there a way to cancel the service agreement?
Our solution for a Utah home seller is to provide satisfaction or give the seller the right to cancel the agreement. You will see from our reviews that we offer service — not excuses. We work hard to provide honest, high quality services. Selling homes or other real estate in Utah is a matter of seeing issues and solving them before they turn into difficult problems. We always want to offer cooperation and work closely with sellers and Utah home buyers to offer the best solutions.
II. Transactional Challenges
We will discuss a few examples of these challenges in the form questions and answers.
How is the home or property owned?
Sometimes a seller or the sellers will own their home in their name and will add the name of some other person to the title of the home. They may hope that this will simplify the process in the event of death. However, it may in fact add the requirement of getting the written approval of the extra party for selling. This is essential to know up front for purposes of the service agreement and the REPC agreement.
Is a survey important to obtain?
Frequently it may not be necessary, especially for homes in an approved subdivision. However, it can be important in a number of circumstances. For example a lot in a subdivision may have a fence installed where the lot lines are assumed to be but are actually unknown. Some times there are easements that need to be identified and disclosed.
Is the home owned in trust?
If the property is owned in trust, the agreement must be located to see who has the authority to sign documents. This becomes especially important following the death of the creator of the trust.
Is a buyer qualified to obtain a loan as described in the REPC agreement?
It is an important practice to know if the prospective buyer has made a loan application for the loan size stated in the REPC and if it is approved. The seller’s agent should obtain evidence of approval if already completed or require it to be done in the sale agreement so the seller will not be wasting time thinking the buyer can obtain the stated loan.
What can be done to appeal a low appraisal?
This can be a difficult problem as a result of federal law insulating appraisers from improper influence. However, some appraisers will contact an agent and let them know if the value appears to be lower than that in the sales agreement. The agent may be asked if he or she can supply other higher priced comparable sales to be evaluated. It is important that the listing price is based on good market data at the outset to minimize this issue. It is also important that the home is neat and clean and presents itself well to the appraiser. Our Real Estate Solutions include suggestions to minimize valuation issues and enhance values.