In real estate, agency is used to determine the legal responsibilities your real estate professional owes to each and every one who is part of the transaction.
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Charming Tudor with partial river views in the always desirable Belle Haven! Terrific location in this iconic neighborhood with a deep, private lot. This classic and elegant home features a large separate dining room and equally spacious living room opening to a beautiful stone study. The kitchen is conveniently located in the rear of the home and a half bath is perfectly situated for guests. The second floor has three generously proportioned bedrooms and one full bath. A set of permanent stairs from one of the bedrooms leads to a third-floor attic with loads of future possibilities. The view of the river from the front of the home only increases as you go up! This Belle Haven home has tons of possibilities but it stands as a charming home with large room sizes and beautiful hardwood floors throughout. A full basement allows for tons of extra storage and laundry while the back yard is spacious enough for an addition and/or a garage. An excellent location in Belle Haven that is close to Old Town Alexandria and the popular GW Memorial bike trail. Easy drive to Reagan National airport, the Pentagon and Capitol Hill.
Are you leaving the area, but not quite ready to part with your Clarendon townhome? Are you active duty military, with upcoming orders for assignment in Germany? Regardless of your circumstances, property management is a great way of safely and effectively renting out your property. You could use your rental property income to put towards the mortgage, if you haven’t paid it off yet.
Separation between Clients
Tenants and landlords each have their own wishes that they each want met (e.g. timely rent payments, proper repairs / maintenance, thorough unit inspections, etc.) Having a property manager can make this process a walk in the park, especially for the landlord. Without a property management service, there is the potential to have quarrels over issues, which can lead to undesirable leeway being extended (i.e. late payment). For example, what if your tenant would like to paint the walls? Will you let them smooth talk you and guilt trip you into having it their way? Nesbitt Realty can enforce your rules and keep a diplomatic barrier between both parties.
Legality
Nesbitt Realty can file all of the legal paperwork (e.g. lease, pets addendum, lead based paint disclosure, etc.) involved with renting out your property. This documentation can provide a great preventative safety measure for the landlord, in case of a breach of terms. Nesbitt Realty has several NVAR licensed Realtors who can put your property into the MLS (multiple listing service) and thus reach a much larger audience, than say, using craigslist.
Reliability and Accountability
Whether we like it or not, sometimes homes need maintenance and sometimes they need maintenance at the worst of tim
es (e.g. the dead of winter, early Sunday morning, in the hot and humid summer, etc.) Nesbitt Realty has top notch accountability with handling maintenance issues – from sinks needing snaking, to hardwood floors needing updating, to lost keys needing replacing. If you need to get a hold of the Nesbit Realty, you can call and either a.) Get a hold of someone or b.) Get a call back from someone in a very timely manner. Not everyone has this level of reliability and accountability.
Market Knowledge
Outside political and economic forces can seriously affect the market conditions in the area. CMA’s (competitive market analysis) can help estimate what you can charge for you rental. On the other hand, Zillow estimates, can be very distorted and misleading. Additionally, Nesbitt Realty’s Principal Broker, Will Nesbitt, keeps a very up to date informed eye on the trends affecting the area. This can help to create an appropriate price to get your place rented quickly, preceding a harsh rental market.
Investment Properties
Some smart people are aware of the fact that you can use your money to make more money. One way to do this is to buy choice properties, when the conditions are right. Will Nesbitt regularly surveys listings all throughout the Northern Virginia area, to find these assets for clients. Also, the combination of his experience with the vast array of properties, combined with his moral ethical outlook for your best interest, leads to a good partnership for everyone involved.
In the Commonwealth of Virginia a real estate agent is a person who is licensed to be paid a commission on a real estate transaction. Real estate agents have minimal educational requirements but must pass a test for licensing. After that, the agent must follow up with continuing education to stay apprised of updates in real estate law. Real estate agents may not work independently and they must affiliate with a real estate broker.
Real estate agents may not work independently and they must affiliate with a real estate broker. A real estate broker has a higher education requirement than a real estate agent. In addition a real estate broker must have 3 years of full-time work experience as an agent in order to qualify for the process of becoming a broker. Broker's are responsible for supervising the efforts of any agents whose licenses are affiliated with them. Because the broker has a deeper understanding of real estate laws and practices, agents often come to their broker when they have questions or need assistance.
There are three types of brokers: a managing broker, an associate broker and a principal broker. Every real estate firm in the Commonwealth of Virginia has a principal broker. The principal broker is the primary licensee from which all licenses at the firm are authorized. A principal broker is uniquely responsible for the actions of every affiliated agent or broker. In addition to managing the burdens of real estate law and practices, the principal broker is responsible for the actual business practices of the brokerage.
At some point, a brokerage can grow too large for one broker to manage. In addition some brokerages have multiple offices. For this reason a principal broker may need to appoint managing brokers. A managing broker has all the education experience that a principal broker has, but the managing broker's responsibilities are generally limited to the management of agents and offices. Most real estate agents at most chain brokerages report to a managing broker and only rarely interact with the principal broker. At Nesbitt Realty every agent has immediate access to and direct supervision from the principal broker.
An associate broker is a broker who has fulfilled all the educational requirements to be a broker, but the associate broker does not assume a managerial position. An associate broker is affiliated with a managing or principal broker. An associate broker requires minimal supervision, the supervising broker is still responsible for the associate broker's actions.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.