Unlocking Real Estate Secrets with Advice from 2004-Present – Teresa Cowart

On this episode of The Closing Table, we sat down with Teresa Cowart!

To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…

Here’s what you missed from Teresa Cowart…

The conversation starts with Kevin giving some word association icebreaker on deed, title insurance, escrow, and more. The two then talked about the time that Teresa started her career in real estate. Looking back, she wishes she could have taken her business more seriously from the beginning. She would have tracked and measured more, seen what works and what doesn’t. As part of her efforts to add value to her brand, Teresa started the Teresa On The Town series which highlights local businesses. In one of her previous series, Myths Busted, she discussed preconceived ideas about homes and focused on educating her clientele. Teresa started Teresa On The Town as a way of giving back to small businesses in town and sharing what the town has to offer.

Another way she invests in her community is by hosting the Spring Pop-Up Market, where local vendors come together in a 14-acre lot that she bought as a charity project. After the success of a holiday event, she decided to hold another one during the spring and different seasons of the year. For agents, hosting or participating in local, community events is a fun way to utilize resources and take initiative. Not only does it involve the community for free, but it also raises brand awareness.

Next, Kevin brought up The RE/Max Awards that have been awarded to Teresa such as the Lifetime Achievement Award, Hall of Fame, and Million Dollar Club. Teresa believes that winning these awards demonstrates longevity and consistent success, reflecting a commitment to the industry and a positive reputation. However, it’s important to acknowledge that these awards are a team effort, and Teresa believes that her team deserves recognition for their hard work as well.

When renovating a home to increase its value, a laundry room can recoup up to 77% of the renovation price tag, according to some estimates. Terese then shares the areas that can boost a home’s value when renovated including kitchens, bathrooms, and outdoor spaces when done correctly. She also emphasizes the importance of personalizing renovations while still keeping them neutral enough to appeal to a wide range of potential buyers.

Following that, she was asked about real estate agents’ paid commissions for their services, but the details of these commissions can be unclear to clients. Teresa believes that transparency is important, although the commission is already stated on the settlement paper. Clients may not understand that there are additional costs such as taxes, brokerage fees, and team shares that come out of the commission, and agents should be prepared to explain these details to their clients. She then shared that when helping clients find their ideal home, it’s important to consider both new construction and resale homes. Teresa asks questions to understand their expectations and comfort level with the price range, while also urging them to keep an open mind. She also emphasizes that different areas in Savannah and its surrounding counties have varying price points and guidelines.

Kevin then asked Teresa about the areas the significant consideration for homeowners in Savannah is flood zones, which can impact insurance costs and require additional maintenance and precautions. Teresa notes that while many properties are located in flood zones, it’s important to evaluate whether an area has actually been flooded before. Flood insurance and other types of insurance can provide protection for homeowners.

The conversation concluded with Teresa talking about how Airbnb and other short-term rental properties can impact the character of neighborhoods and create additional competition for buyers. Teresa notes that Savannah has implemented comprehensive requirements and certifications for properties to be considered short-term rentals, which can help maintain the character and integrity of the market.

Check out Teresa Cowart:

https://www.facebook.com/teresacowartrealtor

https://www.instagram.com/teresacowartteam/

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