Latest news with #homeselling
Yahoo
22-07-2025
- Business
- Yahoo
Chicago homeowner was shocked to find his property listed for sale online — what to know about property fraud
Selling your home can be cause for celebration — unless, of course, you never actually listed it. This is the situation a Chicago man recently found himself in, after discovering a property he owned was listed for sale without his knowledge or consent. Frank Diaz had purchased an abandoned fixer-upper on Chicago's West Side with the intention of flipping it. His plan was to turn the workers cottage into a three-unit building, according to CBS News Chicago. 'That's what I do. I fix them up and then rent or sell them,' Diaz told the news outlet. But that plan was nearly derailed when he discovered someone else had put the property up for sale — without his knowledge or permission. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it How a mystery realtor listed the home without the owner's consent In late May, Diaz discovered that his property was listed for sale, complete with marketing videos, on a real estate broker's social media page and on the Multiple Listing Service (MLS), a property listing and information portal for licensed real estate professionals. The house was advertised as an off-market, all-cash deal for $200,000. Licensed realtor Anthony Kirkland with Coldwell Banker was listed as the agent on the property. 'I have never met him before,' Diaz told CBS News Chicago. Yet, some of the social media videos were taken inside the house, leading Diaz to conclude that whoever filmed those videos had been trespassing. The locks had also been changed and a realtor's lockbox was attached to the door. Kirkland told CBS News Chicago that 'somebody was posing as the owner' and that he removed the listing once made aware. However, despite being the agent who posted the property, he declined to say who had initially claimed to be the owner or who had given him the go-ahead to list it. Diaz has since filed an ethics complaint with the Chicago Association of Realtors. 'You do your job as a realtor and you reach out,' Diaz told CBS News Chicago, 'and if they would have done enough digging, they would have known my number, and they would have called me if I wanted to sell the property.' In a statement to CBS News Chicago, the association said that when a complaint is lodged, 'it triggers a formal due process that includes a hearing' that can result in a fine, suspension, expulsion in membership and possibly referral to the Illinois Department of Financial and Professional Regulation. 'I would like to know what happened,' Diaz said. 'Someone had listed my property without my consent.' Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. Title theft is a growing problem Diaz isn't the only victim of this type of crime. Earlier this year the Boston Division of the Federal Bureau of Investigation (FBI) issued a statement warning property owners and real estate agents about an increasing number of 'quitclaim deed fraud' incidents, which is also known as home title theft. The perpetrators forge documents to record a fake transfer of property ownership. They can then sell or rent the property, 'forcing the real owners to head to court to reclaim their property.' 'Deed fraud often involves identity theft where criminals will use personal information gleaned from the internet or elsewhere to assume your identity or claim to represent you to steal your property,' according to FBI Boston. But deed fraud takes many forms. For example, fraudsters can search public records to find vacant land or properties without mortgages or liens and then ask a real estate agent to list them. Or, an elderly homeowner could be targeted by family members and manipulated into transferring over the property into their name. While the FBI doesn't keep statistics specifically related to quitclaim deed fraud, there were 58,141 reported victims of real estate fraud in the U.S. between 2019 and 2023, according to the FBI's Internet Crime Complaint Center (IC3) — adding up to a whopping $1.3 billion in losses. So, if you own a vacant property, you'll want to know how to protect yourself. Protect yourself from quitclaim deed fraud The only way to truly protect yourself is with a homeowner's policy of title insurance, David Fleck, a real estate fraud attorney, told This is different from an owners policy of title insurance because it helps protect you against fraud after the purchase of the property, whereas traditional title insurance only protects you prior to the purchase. 'All title insurance companies, all the big ones, now offer it,' Fleck told To reduce your risk, the FBI recommends the following: Set up title alerts with your county clerk's office, if available Create Google Alerts or other online monitoring for your name or property address Watch for red flags like missing utility or tax bills, or sudden usage spikes at a vacant property Avoid remote closings when selling or buying property and verify identity in person Ask for proof of ownership, such as recent utility bills or tax statements, before working with a new seller It may seem far-fetched that a complete stranger could sell your property without your knowledge or permission, but it happens — and being aware that this type of crime exists is the first step in protecting yourself. What to read next Robert Kiyosaki warns of 'massive unemployment' in the US due to the 'biggest change' in history — and says this 1 group of 'smart' Americans will get hit extra hard. Are you one of them? How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
Daily Mail
20-07-2025
- Business
- Daily Mail
EXCLUSIVE Property expert reveals the big mistakes that are making your home look tacky and putting off potential buyers
Homeowners who are going through the lengthy and tiresome process of putting their properties up for sale may believe their beloved houses are ready for the market, but they might want to think again. While homely touches are recommended, buyers may not be fond of old photograph memories, garish wallpaper or dated curtains. Average property prices had risen by more than £12,000 in the last 12 months - and the biggest winners in this property boom are homeowners in suburban areas, where prices have surged significantly. But some sellers shouldn't get too confident with the asking price, as their eccentric homes can easily sit on estate agents' websites for months on end without a single offer. Property staging expert Liv Conlon, CEO of said if house hunters can't see themselves living there, they'll more than likely walk away when it's time to put an offer in. Liv, who is originally from Glasgow but who now lives in Marbella, said that outdated decor, cluttered rooms, and a messy front garden can kill a sale before anyone's even stepped inside to view it. From underestimating kerb appeal to ignoring the lack of lighting in your home, here are the biggest mistakes sellers make and how to fix them. Neglecting your home's 'kerb appeal' Liv says that kerb appeal plays a crucial role when viewing a home because first impressions are important to potential buyers. She said: 'An unkept exterior sets the tone for a prospective buyer before they've even stepped foot inside. 'Things like overgrown shrubbery, chipped paint on the front door or window ledges, broken gates and large cracks on the pathway can be the difference between someone feeling welcomed by your home or wanting to make a hasty exit. Liv says that those serious about shifting their property should invest in landscaping services, fixing the paint work and upping the charm factor with hanging baskets, window boxes or stylish doormats. Ignoring the noticeable wear and tear While homes are meant to be lived in, the chaos of a busy household can naturally lead to wear and tear. However, Liv says there's a big difference between a home that's well-loved and one that's worn out. Liv says that subtle pops of colour and decorations are the way forward if you want to successfully sell your home 'Peeling wallpaper, chipped tiles, or scuffed flooring can make a property seem neglected and less appealing to buyers,' she said. 'Try and stay on top of maintenance to avoid small issues getting bigger than they have to. 'Clever styling can also help. Large rugs or furniture can conceal imperfections, while stylish decor can draw the eye away from imperfections.' Letting a unique interior taste overwhelm the space Those who enjoy personalising their spaces with vibrant and unique furnishings may be at risk of not being able to sell if it reflects their personality too much. Liv says that you have to ensure prospective buyers can easily envision turning your house into their home. 'Bright colour schemes and quirky decor pieces may appeal to you, but they may be off-putting to others,' she said. 'Opt for neutral colour palettes where you can, even if this means repainting a wall or swapping out your current soft furnishings for something simpler. 'A bold outdoor style may also prove divisive for buyers, so replace ostentatious finishes or kitsch ornaments with something minimalist, like stone or marble accents.' Going overboard with photos and sentimental items What makes a house a home is often the number of treasured keepsakes and sentimental photographs hanging on the walls and scattered across the fridge on magnets. However, these items can make it hard for a potential buyer to see your house as a place they could call home. Liv said: 'Personal items can also clutter a space, distracting from striking pieces of art or ornate original features that make a house more appealing. 'Strip back on the personal photos and keep your decor more neutral, creating a space that feels streamlined. When it comes to styling your home for resale, less is always more.' Not following a consistent theme throughout The property design guru says that sellers should aim to achieve a consistent interior theme throughout their property so that they can 'work in harmony rather than feeling disconnected'. She added: 'Mismatched styles can create a chaotic flow, so try to choose one colour palette and pick a leading colour that you can add to every room - whether that's in a rug, a statement piece of decor or an art print on the wall. 'I often say the look of a home is dictated by the kitchen, so if you've gone for a traditional style, reflect this throughout the rest of your space.' Letting your space fall flat with colourless rooms Liv says that while bright colour clashes and loud patterns may be unappealing to buyers, an all-white space can also feel soulless. She instead suggests experimenting with subtle splashes with bright cushions, rugs or artwork. She said: 'Fresh greenery can also bring real warmth to a room, or you could add pops of colour with vibrant bouquets of fresh flowers.' Turning a blind eye to the lack of lighting The property expert also says that one of the biggest things prospective homeowners want from a space is plenty of natural light. 'Depending on the direction your home faces or the size of your window space, there may be rooms that feel a little dark during the day,' she said. 'But it's easy to create a brighter feel. Cleverly-placed mirrors can reflect the light and open up the space. 'Lighting is also key, especially when it's layered. For the most effective results, consider your ambient lighting, which is typically ceiling fixtures, task lighting, which refers to reading lamps or under-cabinet lights, and accent lighting, such as artwork. When the three work in unison, a room feels instantly lighter.' Letting clutter build up Clutter can often make spaces feel smaller, less organised, with Liv adding that it can distract from your home's features and potential. 'Strip back room by room, clearing your kitchen countertops, bedside tables and bathroom sinks of unnecessary things,' she said. 'Invest in clever storage solutions that can conceal the clutter without skimping on style, such as velvet ottomans, woven baskets, under-bed bags, sleek wooden toy boxes, and hanging door organisers.' Forgetting to add homely touches While Liv says that you should strip back your home, sellers should take care not to remove all the warmth from their homes. 'An overly bare room can feel cold and uninviting. Even in spare rooms or spaces you hardly use, try to add soft furnishings, like rugs, throws, and cushions, which can introduce warmth and texture,' she said. 'Something as small as a potted plant can add character without overwhelming the space, while floor lamps can help to create a cosy and welcoming ambience.' Opting for garish bedding Bedrooms are one of the most important parts of a home, mainly because they represent a space for rest and retreat, according to Liv. So, using patterned or 'busy linens' can put buyers off as it makes the bed feel cluttered. She added: 'It's always worth investing in crisp white sets that create a sense of calm and luxury and exude that five-star feeling. 'A clean base can also let you experiment with brighter decor, such as statement cushions and throws, or add snug and inviting touches, like a quilted bedspread.'
CBS News
19-07-2025
- Business
- CBS News
The average home price in the Twin Cities is over $400k
In the market to buy or sell a home? Real estate is hitting new highs in the Twin Cities. In America's 16th largest metro area, it's sweet summertime. High temps aren't the only increased numbers, but the ticket price on homes are too. "I think what matters is affordability to people, and that seems to be a problem right now," said Richard Webb who's a Realtor with the Webb Group, and has helped people buy and sell in the metro since 2004. "Right now if you're a seller, you start with a little leverage. In 2010 if you were a seller you had no leverage." Minnesota Realtors, an organization uniting those who help clients buy and sell statewide says seller activity in the Cities is now 4.4-percent higher while buyer activity is up 0.8%. This new data adds that the metro is seeing a record high median of $401,000. The first time it's over 400K. Webb says millenials are a demographic buying like crazy, and the price they're willing to pay has definitely kept his business busy. "It's unaffordable for an average young couple," said Carolyn Brochman, who lives across from a Minneapolis home for sale. Brochman also went through the buying and selling process recently. "I found it extremely stressful," she told WCCO. The market is competitive. "Almost every house we see if getting multiple offers," said Webb. "Work with a seasoned agent that can help you position your offer most competitively." Webb added that every suburb across the metro is on people's radar. Webb told WCCO that area inventory is improving despite currently being a sellers market. The metro's many Fortune 500 companies also are a big influence. The Webb Group is based in Edina and can be reached at 952-223-1462. More information can be found in their website. Minnesota REALTORS recent report can be found here.
RNZ News
14-07-2025
- Business
- RNZ News
Is it worth paying a real estate agent to sell your house?
Three quarters of agent-listed properties in the past 10 years were successfully sold, compared to 65.1 percent of privately listed properties. File photo. Photo: You might pay a real estate agent $30,000 or more to sell your home. But is it worth it? Analysis by property data firm Cotality suggests it might be. Each year, a small number of people opt to sell their homes privately - from a low of 3.1 percent in 2021 to 8 percent in 2016. Last year, it was 7.6 percent. But Cotality head of research Nick Goodall said agents seemed to sell properties more quickly and effectively. "The sales success rate is higher for agent sales - by an average of 11.5 percent over the 10 year period." Roughly 76 percent of agent-listed properties in the past 10 years were successfully sold, compared to 65.1 percent of privately listed properties. Last year 65 percent of agent listed properties sold, compared to 52.8 percent for private sales. Goodall said real estate salespeople would often have an understanding of which buyers might be in the market for a particular property and could target them more effectively than a private seller might. "The typical days on market for agent sales is also most often shorter. In 2021 - the market peak - the median days on market for agent sales was 24, while it was 40 for private sales. Interestingly last year was the one year to buck that trend, with agent sales taking a median of 75 days, compared to 71 days for private." He said the median sales price for properties sold by agents was higher, too, but that could reflect a different mix of properties being sold. "Vendors may be more likely to sell their property privately when it's a lower value property, whereas owners of more expensive property might be more likely to use an agent." He said last year's higher rate of private sales could reflect vendors being aware that prices were not strong and looking to save money where they could. "Nonetheless, for the record, the median sales price of properties sold by agents this year is $740,000, compared to $662,500 for private sales. Last year the respective figures were $735,000 for agents and $704,000 for private." Goodall said the data was not definitive enough to say whether agents were delivering enough extra value to pay their commission. At Barfoot & Thompson, for example, a $750,000 sale would incur $23,978 in commission. A $1 million sale would mean just under $30,000. "The figure for this year is almost $100,000 so I'd say that would justify it if it was like-for-like properties. But the year before was closer so you might be sort of borderline there." Goodall said people selling privately would also need to account for the time they would need to spend on the process. "Having to take time off work or the opportunity cost or what else you could be doing if you have to spend all that time preparing to sell a property on your own, you know that might bring the calculation a little bit closer as well." Real estate agent Brooke Gibson said she could understand why people would sell privately. She did it herself before she entered the industry. But she said she could see that agents would add value for most people, particularly when it came to negotiating. "You could actually easily kill the deal because you know, if someone comes up to you and you're opening up your house to them and they go 'how much do you want?' and you say $1 million and he thinks it's worth $700,000 for example, he's going to be like 'nah not interested." Wellington salesperson Mike Robbers agreed. He said agents would also often present properties a bit better than private sellers would, with professional photography and home staging. "Private sellers often start out with a very high price in mind, then reduce it over time when there's no interest, but by then the listing has gone 'cold'. Agents tend to use their market knowledge to get the pricing strategy right from the outset, so the listing doesn't sit as long on the market." He said some buyers also expected to pay less for a private sale because the seller did not have to cover commission. Real Estate Authority chief executive Belinda Moffat said whether it was better to sell privately or through an agency would depend on the seller's specific circumstances, the property itself and the seller's knowledge and experience. "Licensed real estate professionals are trained and experienced in working on behalf of homeowners to help them navigate property transactions with confidence and are legally required to seek the best outcome for their client." She said all real estate salespeople were required to follow the standards in the Code of Professional Conduct and Client Care and meet their obligations under the Real Estate Agents Act 2008. "If a person works with a licensed real estate professional, and an issue arises with their professional conduct, the person has the option to make a formal complaint to REA and/or to raise the issue with their agency." Agents should provide a current market appraisal (CMA) of what a property might sell for before they signed an agency agreement. "(CMA) of what they think the property might sell for before the seller signs an agency agreement. The CMA must be informed by comparable recent sales in the area and can be helpful in understanding what the property may be worth. They will also prepare a proposed marketing plan which the seller can discuss, amend and agree to. "They also understand and can advise on the important legal disclosure obligations a seller has when selling a property, including in relation to defects and unconsented alterations. If a seller knowingly fails to disclose relevant information to buyers, they could be in breach of the terms of their agreement with any buyer, meaning the sale could fall over or the buyer could seek compensation and take court action." She said vendors might be able to negotiate commission. People choosing to sell privately should research the process so they understood what was require, she said. Moffat said confidence in the industry had lifted from 70 percent in 2021 to 82 percent last year. Goodall said there was demand for property but there remained high numbers of listings. "I think if you're willing to be very, very flexible on that price then it's probably not that difficult to get a sale, but it's all about you know, your expectation, what you want to do, if you're buying in the same market, if you're moving elsewhere..." He said some people were still hung up on the prices being paid at the peak of the market and were finding it hard to adjust their expectations. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
14-07-2025
- Business
- RNZ News
Is it worth using a real estate agent?
Three quarters of agent-listed properties in the past 10 years were successfully sold, compared to 65.1 percent of privately listed properties. File photo. Photo: You might pay a real estate agent $30,000 or more to sell your home. But is it worth it? Analysis by property data firm Cotality suggests it might be. Each year, a small number of people opt to sell their homes privately - from a low of 3.1 percent in 2021 to 8 percent in 2016. Last year, it was 7.6 percent. But Cotality head of research Nick Goodall said agents seemed to sell properties more quickly and effectively. "The sales success rate is higher for agent sales - by an average of 11.5 percent over the 10 year period." Roughly 76 percent of agent-listed properties in the past 10 years were successfully sold, compared to 65.1 percent of privately listed properties. Last year 65 percent of agent listed properties sold, compared to 52.8 percent for private sales. Goodall said real estate salespeople would often have an understanding of which buyers might be in the market for a particular property and could target them more effectively than a private seller might. "The typical days on market for agent sales is also most often shorter. In 2021 - the market peak - the median days on market for agent sales was 24, while it was 40 for private sales. Interestingly last year was the one year to buck that trend, with agent sales taking a median of 75 days, compared to 71 days for private." He said the median sales price for properties sold by agents was higher, too, but that could reflect a different mix of properties being sold. "Vendors may be more likely to sell their property privately when it's a lower value property, whereas owners of more expensive property might be more likely to use an agent." He said last year's higher rate of private sales could reflect vendors being aware that prices were not strong and looking to save money where they could. "Nonetheless, for the record, the median sales price of properties sold by agents this year is $740,000, compared to $662,500 for private sales. Last year the respective figures were $735,000 for agents and $704,000 for private." Goodall said the data was not definitive enough to say whether agents were delivering enough extra value to pay their commission. At Barfoot & Thompson, for example, a $750,000 sale would incur $23,978 in commission. A $1 million sale would mean just under $30,000. "The figure for this year is almost $100,000 so I'd say that would justify it if it was like-for-like properties. But the year before was closer so you might be sort of borderline there." Goodall said people selling privately would also need to account for the time they would need to spend on the process. "Having to take time off work or the opportunity cost or what else you could be doing if you have to spend all that time preparing to sell a property on your own, you know that might bring the calculation a little bit closer as well." Real estate agent Brooke Gibson said she could understand why people would sell privately. She did it herself before she entered the industry. But she said she could see that agents would add value for most people, particularly when it came to negotiating. "You could actually easily kill the deal because you know, if someone comes up to you and you're opening up your house to them and they go 'how much do you want?' and you say $1 million and he thinks it's worth $700,000 for example, he's going to be like 'nah not interested." Wellington salesperson Mike Robbers agreed. He said agents would also often present properties a bit better than private sellers would, with professional photography and home staging. "Private sellers often start out with a very high price in mind, then reduce it over time when there's no interest, but by then the listing has gone 'cold'. Agents tend to use their market knowledge to get the pricing strategy right from the outset, so the listing doesn't sit as long on the market." He said some buyers also expected to pay less for a private sale because the seller did not have to cover commission. Real Estate Authority chief executive Belinda Moffat said whether it was better to sell privately or through an agency would depend on the seller's specific circumstances, the property itself and the seller's knowledge and experience. "Licensed real estate professionals are trained and experienced in working on behalf of homeowners to help them navigate property transactions with confidence and are legally required to seek the best outcome for their client." She said all real estate salespeople were required to follow the standards in the Code of Professional Conduct and Client Care and meet their obligations under the Real Estate Agents Act 2008. "If a person works with a licensed real estate professional, and an issue arises with their professional conduct, the person has the option to make a formal complaint to REA and/or to raise the issue with their agency." Agents should provide a current market appraisal (CMA) of what a property might sell for before they signed an agency agreement. "(CMA) of what they think the property might sell for before the seller signs an agency agreement. The CMA must be informed by comparable recent sales in the area and can be helpful in understanding what the property may be worth. They will also prepare a proposed marketing plan which the seller can discuss, amend and agree to. "They also understand and can advise on the important legal disclosure obligations a seller has when selling a property, including in relation to defects and unconsented alterations. If a seller knowingly fails to disclose relevant information to buyers, they could be in breach of the terms of their agreement with any buyer, meaning the sale could fall over or the buyer could seek compensation and take court action." She said vendors might be able to negotiate commission. People choosing to sell privately should research the process so they understood what was require, she said. Moffat said confidence in the industry had lifted from 70 percent in 2021 to 82 percent last year. Goodall said there was demand for property but there remained high numbers of listings. "I think if you're willing to be very, very flexible on that price then it's probably not that difficult to get a sale, but it's all about you know, your expectation, what you want to do, if you're buying in the same market, if you're moving elsewhere..." He said some people were still hung up on the prices being paid at the peak of the market and were finding it hard to adjust their expectations. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
