Author: Monty

  • Could this secret stall real estate evolution?

    Dear Monty: We have a significant problem with a real estate transaction. We ran across a state agency called a “real estate commission.” When we researched the commission, we discovered the commissioners are all real estate agents. We are reluctant to contact them. It seems like having a fox guarding a chicken coop. Do you…

  • Seven Reasons to be wary of MLS

    Be wary when using the MLS.

  • Nine reasons selling a home is easy

    Dear Monty: We are selling our home in 2024. We know of your involvement in PropBox. You state that selling a home with PropBox is easy. A real estate agent has argued that selling our home on our own is complicated and risky without a real estate agent. Having control and saving money sounds good,…

  • A homeowner loses $410k to an insurance company.

    A homeowner loses $410k to an insurance company.

    Dear Monty: Our washing machine hose ruptured and flooded the house. Our house insurance company (let’s call it HIC) forced us to use the restoration contractor they pitched. The contractor we wanted wasn’t available for “2 to 3” months, and HIC couldn’t wait. They said they would only cover our temporary housing if we went…

  • The five-year rule risk for first time homebuyers

    The five-year rule risk for first time homebuyers

    Monty’s Answer: I’m sorry to hear this story, and I will publish your account. I have known about the Five-Year rule for years. The five-year rule in real estate states that first-time homebuyers should generally live in a home for at least five years before selling the property. If they sell earlier, they risk losing…

  • Negotiations are an important key

    Negotiations are an important key

    The best way to negotiate is to create a fair “win-win” agreement between buyer and seller.

  • Agent wants to show my FSBO home

    Agent wants to show my FSBO home

    Dear Monty: My house is for-sale-by-owner. I want to avoid the commission. I got a call from an agent who wants to show the house but wants to know if I will pay the buyer’s commission. For all I know, the customer may be someone I have already shown the place to. I have had…

  • Selling and buying a home today is easy

       Dear Monty: We recently closed on our new home. We were pre-approved, and we shopped online for many hours using real estate websites and other websites to learn more about neighborhoods around homes that interested us. We used municipal websites, crime maps, and Google Earth as examples of helpful resources. After two months of searching,…

  • How real estate forms enable negotiations

    Dear Monty: We are going to buy our first home this year. We are investigating using an agent or buying directly from a for-sale-by-owner (FSBO). Some friends have used agents, while others have not. We want more information on any required contingencies and how real estate negotiating works. Do you have a checklist of contingencies…

  • Ten ways to stay safe when selling your home

    Dear Monty: I recently listed my home for sale. There have been several showings. Yesterday I had a showing that made me worry about safety. A couple came through with their agent. I thought it was unusual the way they looked at the house. While the agent asked me questions, they took it upon themselves…

  • Is it wise to waive a home inspection?

    Dear Monty: Is it wise to waive a home inspection? We recently bought a home, and we agreed to waive a home inspection. There were multiple offers on the house. Our agent suggested a competitive advantage by waiving the home inspection. Yesterday, a heating contractor told us we should replace the twenty-year-old furnace. Since moving…

  • Will iBuyers survive after Zillow?

    Dear Monty: Zillow has announced they will no longer participate as an iBuyer due to heavy losses. What affect do you think Zillow’s departure will have on the overall iBuyer concept? Monty’s Answer: Will iBuyers survive after Zillow is unknown. According to the Securities and Exchange Commission (SEC), Zillow lost $328 million in the 3rd…

  • Eight unwanted small mammals that break into your home

      Dear Monty: My dad needs help with the tax map for his property. There is a term that no one can tell him what it means. The word is fisher. Someone told him he has that on his property. Could you help us with this question? Monty’s Answer: I have been unable the find…

  • Eight reasons technology will replace real estate agents

    A debate rages today in real estate’s inner circles. Agents are wondering if they can withstand the competitive pressures to take market share away from them. Will they be able to make a living with all the for-sale-by-owners and cut-rate companies. Will the industry survive? This writer opins that the answer is no, and the…

  • Why do real estate companies want to buy our house?

    Dear Monty: Why do real estate companies want to buy our house? We are not planning on selling our home just yet. One of the curious observations we have is that real estate companies have started to promote buying our home within the last year. The idea is that by selling directly to a real…