Women Working with Women

CapFed® is pleased to host the Carole Jones Agency Women’s Networking event, a networking opportunity for women. A meet and greet for area women to gather, bring a friend and learn about each others’ skills and talents.

Thursday, April 18, 5:30pm
Capitol Federal® Liberty Branch
1911 Star Drive
Liberty, MO 64068

There will be drawings and door prizes. For more information, call Carole at 816-470-7076 or Christina at 816-935-7258. This will be a good opportunity to meet and network with someone new.

How often do you network?

Selecting a Real Estate Agent – What you NEED TO KNOW

The beginning of 2013 looks promising for new home contruction, as well as the sale of existing homes.  Buying or selling a home is the largest transaction many of us will make in our lifetime. These transactions also represent large commissions for agents or brokers involved in the sale, and you are paying a good portion of those commissions.  By selecting the right real estate agent, you help ensure your investment is a good one.  

Before you begin your interviews, check to make sure the agent has an active real estate license in good standing.  To find this information, you can check with your state’s governing agency. It’s also a good idea to check reviews of local agents in your area: Incredible Agents,  Zillow’s Real Estate Agent Directory, Home Thinking and even Yelp are all good sources to find reviews. 

Key questions to ask before selecting a real estate agent:

• How long have you been selling real estate?
• Is real estate your full-time profession?
• May I see your resumé or personal brochure?
• What is the percent of sellers compared to buyers you serve?
• How many homes did you sell last year (as a seller’s agent)?
• Of the homes you sold last year (as a seller’s agent), what was the average number of days between the original listing and an accepted offer?
• How close to the initial asking prices of the homes you sold were the final sale prices?
• What is your experience with my particular neighborhood?
• How do you propose to market my house? (Open houses, agent previews, yard signs, listings on Multiple Listing Services, online ads, newspaper ads, direct mail, photos, virtual tours, and links to other web sites, etc.)
• Will you take professional-grade photographs of my home, or work with professional photographers?
• How often do you expect to communicate with me regarding inquiries and other buyer interest?
• Can you provide me with a CMA for the area? (A comparative market analysis will provide a listing of homes currently for sale and recently sold in the area and compare the details of your home with similar homes on the market.)
• What is your fee structure? Commission, flat-fee, a la carte? Do you recommend one or another? What do the fees include?
• What is your cancellation policy? (Consider what would happen if, after signing an agent, you hear someone you know is interested in buying your house, or if you happen to stumble upon your dream home on your own with no help from your buyer’s agent – would they still be entitled to the full commission? Ask about what kind of early cancellation fees may apply.)
• Why should I work with you rather than any other real estate agent?
• Can you provide me with a list of references, preferably the names and phone numbers of your 5 most recent clients?

The Commission
Real estate commissions can vary, but generally range from 4 to 7 percent. How this commission is divided can vary.  It’s important to discuss in your first conversation with a real estate agent what commission they will charge.  It is also acceptable to negotiate what percentage of commission you will pay both the buyer’s agent and the seller’s agent. Sometimes an agent will discount part of their commission, if they represent you to sell your home and also represent you to buy a home. The theory works on the premise they benefit from one person, two deals. 

Be Clear
Real estate agents are not salaried or hourly workers.  They are paid only when a house is bought or sold.  For this reason, it’s very important to clearly identify which agent you want to work with in advance of house hunting or putting your house on the market.  It is standard practice to sign a buyer’s or seller’s agreement.  This helps ensure there is no confusion over which agent you have selected.  If you attend an open house without your agent, it’s always recommended that you let the listing agent know you are already working with another agent. 

The real estate agent’s role is to expedite and smooth the home buying or home selling process.  Interview several agents, ask good questions, clearly share your needs, goals, and desires; and hire the one who is a good match for your style and knows your community.

How did you select your real estate agent?

Long-term Care Insurance Rates for Women Could Rise Soon by as Much as 40%

Now may be the time to purchase long-term care (LTC) insurance.  Very soon, the LTC insurance industry will change from unisex pricing based only on age, to a gender-specific model, as they do with life insurance.   The Chicago Sun-Times has reported that this change could be as early as the second quarter of this year. 

Insurance companies say this change will better price the risk to the insurer, but this change could also mean prices of LTC insurance policies may rise as much as 40 percent for women!  Why the female rate increase? Simply put, women live longer than men on average and will use more LTC insurance as their health deteriorates. 

According to Kiplinger, despite the potential rate hikes, insurance is still the most cost-effective way to protect yourself from the potentially devastating expense of LTC.  Overland Park based investment adviser, Elizabeth McLeod, tells clients they should factor about $230,000 into their financial plan for potential LTC costs, if they don’t have an insurance policy. 

Many states are offering to help those who try to help themselves when it comes to LTC.  Some states offer Partnerships for Long-Term Care programs, that allow people who exhaust all of their LTC insurance benefits to qualify for Medicaid policies, without depleting all their assets. 

Kansas City based, Senior LTC Insurance Specialist, Steve Johnson is advising women to get a plan now.  Because women make up about two-thirds of all LTC insurance claims, their pricing is about to increase a lot.  “Those who act now will be rewarded with better rates,” he says.  “Certain health and cognitive issues can prevent people from qualifying at all for LTC insurance, so even without the new rate increase, it has always been a good idea to secure coverage while you’re healthy.” 

The fact we’re living longer on average means we’re going to have to plan financially for our potential health care needs.  What plans do you have in place for your long-term healthcare needs?