Rich Patterson, Realtor, The Michael Group Real Estate, Downtown Dallas, Uptown Dallas, Oak Lawn, Oak Cliff

Rich Patterson, Your Uptown Dallas Realtor | Downtown Dallas | Uptown | Deep Ellum | M Streets | Oak Lawn | Oak Cliff | Highland Park | University Park


Friday, 11/21/2008

Holiday Lights Across Texas

Are you getting in the mood for holiday lights? Here are some great locations for holiday lights courtesy of the Dallas Morning News.

Search for Homes on Your Mobile Device

Have you ever been out looking at homes, found one you like but there's no information available at the property? Now you can find that information or just search for homes on your mobile device.

http://m.richpatterson.net

Buyer Rebate Program

This is most likely the best news yet for buyers. When the seller's agent/broker pays me a 3% commission on the sale of any home, townhouse or condominium and I represent you as your buyer's agent, I'll give you up to 1/3 of my commission to help you with your closing costs!* Alternatively, the buyers may wish for me to donate that 1% to a non-profit organization. Either way, it's a win-win program.

* Some restrictions apply. You can read the details of the program here.

Pre-Owned S.F.Home Sales up 2%

DFW Single Family home resales are up slightly at 2% over last year - Condo and townhome resales are down 13% over the same period.

You can read the Dallas Morning News article here.

Higher Gas Prices Stimulate More Urban Renewal

More and more news organizations across this nation are reporting how issues like high gas prices, environmental concerns and gridlock on our roadways are drawing people back to the city for housing. Instead of the urban blight that dominated back in the 80’s, people are discovering luxury style townhomes, condos and high-rises with features like granite countertops, stainless steel appliances, hardwood floors and fantastic views of the city.

Cities that are investing millions into light rail systems, like Dallas and Denver, are experiencing a high rate of revitalization in and around the urban core. I've been watching the growth here ever since my partner and I moved to Uptown in 2001. We love living in the city. Life here means you’re within walking, biking or transit distance to entertainment, restaurants, shopping, gyms, exercise trails, you name it.

CNN Article

WFAA Article

WSJ Article

View Properties Here
For Sale in Downtown | Uptown | Deep Ellum | Oak Lawn

Urban Market Success

Dallas' only grocery store in the city center is alive and well.

Dallas Morning News Article

DART Light Rail Line Expansion

The new DART Green Line is a 28-mile, 1.8 billion dollar project and is currently the largest light rail expansion in the US serving the fastest growing region in the US.

You can read more about the DART Green Line and search for properties near the stations here.

Relocation Information

Relocating to Dallas or just moving across town? Be sure to check out the recently updated Community and Relocation Page for information about city, school, utility, restaurant, home improvement, shopping, government, health, etc. There are 263 links so far and counting.

News Archive

Rich Patterson

REALTOR®
The Michael Group
(214) 563-1667 mobile
(214) 853-9497 fax

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Rich Patterson - Dallas Texas Real Estate

Free Information for Buyers

I realize how frustrating it can be when you think you’re about to get some great information immediately, only to find you’ve got to register and wait for it. That's why I provide information to my prospective clients without requiring registration. Then, when you are ready, call or e-mail and we'll discuss it further.

Handouts for Buyers

Search the NTREIS MLS
(North Texas Real Estate Information Systems Multiple Listing Service)

Buyer Rebate Program

Read about this exciting program here.

How Are REALTORS® Paid?

This is one of the most confusing aspects of a real estate transaction and requires a detailed explanation. REALTORS are paid on commission but there are probably some facts you do not realize.

Who Pays?

On all of the NTREIS MLS listings, the commission is paid by the seller (of the property) to their broker at closing. This is accomplished by using the funds from the sale of the home. The seller's broker, in turn, will pay the buyer's agent a co-op fee for "selling" the home for them. That's why MY buyers do not pay my commission, even when I'm working for them as their agent. Some brokers charge a "closing" fee ($150 - $199) to buyers to work with their agent. I do not.

Nearly every agent is paid on contingency. In other words, they only get paid when a deal closes. If a buyer's financing falls through or there's a problem elsewhere and the deal doesn’t close, they don't get paid. In light of this fact, we are all committed to ensuring a successful closing. But we also have a fiduciary duty to you, whether you're buying or selling a home. This means we're all obligated to look out for your best interests and advise you accordingly. Sometimes, looking out for your best interests means we won't get paid.

How is the commission divvied up?

Commissions are paid to and distributed by the listing broker. The listing broker retains a portion of the funds before dispersing funds to the listing agent. The listing agent is the person who manages the sale, the one who put the sign in the front yard.

If the buyer is represented by an agent, the listing broker will split the commission and pay the employing broker of the buyer agent. The buyer agent broker will retain a portion and pay the remaining amount to the buyer agent.

The fees subtracted by the brokers are used to pay for all of the services provided by the broker companies including office space, advertising, phone, errors and omissions insurance, etc. By the time all the fees have been subtracted, the buyer and seller agents will receive a fraction of the total commission paid.

Most agents are independent contractors. This means we are not employees of The Michael Group, Coldwell Banker®, Century21®, RE/MAX®, etc. Translation: We don't receive typical employee benefits such as medical insurance, expense accounts, or company-provided autos. We pay our own self-employment taxes, health insurance, liability insurance, license fees, MLS fees, association fees (NAR, TAR, MetroTex), as well as our own business expenses (car, auto insurance, telephone, etc.). What’s left over is our paycheck.

What is a REALTOR®?

Not all licensed real estate agents and brokers are REALTORS. REALTORS are licensed salespersons or brokers that are members of a local board. To use the REALTOR registered trademark, an agent must be a member of the National Association of REALTORS (NAR) and must follow the strict Code of Ethics.

All of the licensed professionals at The Michael group are REALTORS.


©2008 Rich Patterson, REALTOR®

Connecting home buyers and sellers in Dallas, Fort Worth and surrounding Metroplex communities.

The Michael Group Real Estate Brokerage
9669 North Central Expressway, Suite 290
Dallas, Texas 75231
(214) 563-1667 mobile
(214) 853-9497 fax
(214) 692-6400 office

Send Email to Rich Patterson

Fair Housing and Equal Opportunity  Equal Housing Opportunity