Mark Gorman

Co-Founder of HomeTraq. 30 years mortgage & real estate experience.

Recent Posts

The Selling Agent Checklist - Must Have!

Feb 7, 2020 1:32:58 PM / by Mark Gorman posted in agents, listing agent, selling agent

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As a seller, you'll want to know exactly how the agent will sell your home. Is a direct mail campaign appropriate? Why or why not? Where and how often do they advertise? What kind of photography do they offer? Do they market online? What steps will they take to prepare your home for sale?

 
Open Houses - Have your agent or their associates hold an open house as often as possible, but definitely from time to time. These bring in prospects that are not yet willing to commit to an agent, but are interested. However, do understand that open houses are mostly to attract buyers for the agent, and doesn't necessarily get the house sold. It definitely doesn't hurt, as it could lead to buyer or a referral to another prospective buyer.
 
An open house provides a buyer with the opportunity to gather quite a bit of information on a home in a short amount of time. The listing agent often will be present and ready to answer questions, which will allow a buyer to get his or her full attention. The information needed to make an informed purchase might come immediately rather than waiting for a buyer's agent to get back to them.  
 
Broker/Agent Open Houses - Have your agent promote the new listing to the broker/agent network. Getting them there can be as valuable as having the right buyer walk into your home, as they may already have a buyer looking for your exact house!
 
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Title insurance: The truth revealed.

Feb 6, 2020 5:08:50 PM / by Mark Gorman posted in insurance, before you buy, title, homebuying, title insurance

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When it comes to title insurance, there can be a lot of information out there—and not all of it correct. Like much of the home-buying process, the title insurance process can often seem too technical or complicated to understand.

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Real Estate Insider - Credit, Credit Resources and Credit Counselors

Feb 5, 2020 11:28:31 AM / by Mark Gorman posted in homebuyers, Credit, Credit Score, financing, capital, mortgage payments, homebuying, boosting credit, credit bureaus

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There are three major credit reporting agencies.

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The Loan Approval Phase

Feb 2, 2020 9:26:08 PM / by Mark Gorman posted in Home Loan, financing, capital, buying a home, income, credit bureaus

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Lender Evaluates Mortgage Loan Application:

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Why co-signing on a loan is probably a bad idea

Dec 9, 2019 4:00:12 PM / by Mark Gorman posted in Home Loan, cosign, loan

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Lots of people – even those we love – don’t make good on promises; your credit takes an immediate hit

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4 reasons why buying a home with cash may be a mistake...

Oct 8, 2019 4:49:14 PM / by Mark Gorman posted in Mortgage, Pre-Approval, Pre-Qual, Lending, Home Loan, Pre-Qualification, Approval, professional, home purchase, financing contigency, FHA, closing costs, homebuyers, home ownership, PITIA, financing, capital, payments, mortgage payments, emergency funds, boosting credit, income, asset, myths, credit bureaus

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There’s a common misconception out there that buying a home with cash is always a faster and easier option than financing. If you have the funds to buy a home in cash (congrats on that saving, by the way), financing might actually be a better option. Financing your purchase with a qualified lender offers homebuyers a host of unique advantages that cash buyers just can’t enjoy. If you’re weighing your cash vs. financing options, consider the following:

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Rates are falling... What does it mean for your home search?

Aug 28, 2019 9:30:52 PM / by Mark Gorman posted in Insider, Mortgage, Pre-Approval, Home Loan, Approval, homebuyers, housing market, St. Louis, housing demand, financing, loan, rates

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You found it! Should you call the listing agent to view the home?

Aug 21, 2019 8:09:00 PM / by Mark Gorman posted in buyer's agent, commission, listing, home purchase, homebuyers, housing market, dual agency, homes for sale, real estate tech, representation, agency, listing agent, selling agent, St. Louis, Zillow

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You can call the selling agent to setup an appointment to view a home, but not having your own representation could be tricky...

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Confused by all the home buying lingo?

Aug 17, 2019 9:02:00 PM / by Mark Gorman posted in Insider, Mortgage, AUS, real estate, FHA, closing costs, HOA, 203k, MLS, PITIA, before you buy, buying a home

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Buying a home can be a high stress time and it feels even more stressful when you don’t understand the lingo being tossed around. From abbreviated words in listings to acronyms used by real estate agents and loan officers, sometimes it can feel like everyone is speaking a different language.  Knowing these acronyms will keep you on the same page as everyone you are working with.

 

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Do I have to use the agent who shows me the home?

Jul 23, 2019 7:58:00 PM / by Mark Gorman posted in touring homes, buyer's agent, commission, listing, homebuyers, dual agency, homes for sale, agency, listing agent, open house

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Many buyers wonder if the listing agent of a home they are interested in will show the home to them. The answer is "yes", as the listing agent is obligated to show his or her client’s home. A listing agent is hired by the seller to work 100% for the seller’s best interests.  

Additionally some buyers wonder if they can save some money by going directly to that seller's agent to buy the home. On the surface, the thought of cutting out the "middleman (a buyer's agent)" may sound like a way to save time and money. While it may save time, the buyer will NOT save money on that specific purchase transaction.  

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