Mitten Realty Group

Scott Fader & Gary Brincat — Top Producers — Oakland 
(this was an article in the Real Producers of Oakland County, Michigan magazine)                                       

 

Committed to Clients, Agents and the Community

 

By Jane K. Asher, Ph.D.

 

For Scott Fader and Gary Brincat, real estate is more than a business opportunity that feeds their families: It’s a venture of love fueled by their passion for the industry and commitment to their clients, agents and the community. Through Mitten Realty Group, LLC, Co-Owners Scott and Gary have leveraged their combined 40 years of real estate experience in buying, renting, flipping and selling homes —  as well as their extensive training in contract negotiations — to build a thriving veteran-owned business and one of Michigan’s 2019 top-25 firms founded on the simple principle that there is always time to help someone else succeed.

 

“We don’t keep score, and we help each other whenever possible,” Gary said. “We answer our agents’ calls 24/7 and make sure that our agents have access to us, no matter what day or time — this allows them to have success with their buyers or sellers”

 

“We don’t just claim to provide training; we actually provide great individual and group training,” Scott said. “We also minimize monthly fees and costs.”

 

Another way that Scott and Gary distinguish their business and actualize their commitment to others is through their ongoing efforts to help veterans, law enforcement, firefighters and other first responders. As honorary members of the Detroit Police Lieutenants and Sergeants Association (DPLSA), Scott and Gary have sponsored the DPLSA Honors Ball — an event that recognizes fallen officers —  as well as golf outings to fundraise for Detroit police. Mitten Realty Group also partners with a local non-profit that fundraises for local and national charities through real estate, in addition to reducing commissions or returning 33% of their commissions back to first responders and military members following the purchase or sale of a home.

 

“Beyond being a veteran-owned business, what motivates us is that so many people put their lives on the line, sacrificing time, family and themselves for others. We like to make sure these people know they are appreciated,” said Scott.

 

Before becoming a REALTOR®, Scott worked with his father’s CPA firm, which handled accounting for investors and real estate agents. He then was presented with an investment opportunity and earned his real estate license in 2003. In 2008, when Scott was 35 years old, he took a hiatus from real estate to join the army where he was deployed to Afghanistan. He then went on to earn his broker’s license in 2018. 

 

Gary has spent 20 years buying, flipping and investing in real estate, and he also served as vice president of sales for a multinational marketing company and a multinational software company. Then about three years ago, Gary decided to leave the corporate world and become a REALTOR®, and that’s when he teamed up with Scott to build Mitten Realty Group.

 

Scott and Gary, both of whom were multi-million dollar producers in 2019 and are on track to increase production in 2020, are well versed in all aspects of the business, but Scott gravitates toward marketing and working with buyers while Gary enjoys working with sellers. Right now, they are focused on growing their team with individuals who share their passion for real estate and dedication to helping others, which they say can be challenging at times because they are looking to work with people who look beyond the profit. They shared that one of their goals is to create a “long-term culture and environment where people look forward to coming to work each day.” They are also grateful for all of their agents. “We are like a family,” Scott said. “Without our agents, we would not be growing as we are.”

 

When Scott isn’t with his work family, he enjoys spending time with Sara — his wife of 20 years — and their son Diego who they adopted from Guatemala in 2006. The Faders travel to Disney World several times a year, and Scott says they are “Disney addicts.” Scott, who regularly takes online classes for both business and personal growth, also says that he is “addicted to education” and loves reading and watching biographies.

 

Gary and his wife Romiana — who was born in Bulgaria — met in France and like to travel. They have two children and four grandchildren. Their daughter Nelly is a commercial property manager, and their son William, who is FAA licensed to fly drones,  is an agent and photographer at Mitten Realty Group. Gary is a 7th degree black belt and owns two martial arts schools. He also developed a two-credit hour continuing education real estate safety class, trains police in self-defense, and enjoys business, mystery and puzzle-solving books.

 

Scott and Gary agree that success is measured on an individual, team and company basis, and they both strive to succeed in all three areas. They also believe that success will come to those who work at it. “Putting in the time, working through the ups and the downs and being able to see mistakes as opportunities will lead you to the paths you want and the goals you seek,” Gary said. “We all run into issues with deals, clients, mortgage companies and title companies —there are a lot of moving parts — but we know each time we encounter an issue, we learn from it and are more likely to be prepared for the next transaction.”

 

For Gary, the most rewarding aspect of his business is helping someone achieve something they didn’t think was possible; for Scott, it’s helping veterans and first responders. Collectively, they care a great deal about their clients, agents and community. “Without our clients, agents and community, Mitten Realty Group would not be here,” they said. 

Contact Mitten Realty Group at 248-294-7850 or info@mittenrealtygroup.com

For Sale by Owner or Using a Realtor

When you decide to sell your home, you have 2 options. You can sell it on your own as a For Sale By Owner, and the other is to use a professional Realtor. Each one has the main goal to get it sold to the closing table, but each are quite different. How you approach the sale of your home is a choice that can make the process easy or difficult.

Pricing:

  • FSBO: When selling on your own, you will decide on the price you want to sell your property. FSBO usually will do this by looking on FREE public websites like Zillow to determine value. These sites have information, but how relevant and accurate is unknown. FSBOs also use what their neighbors have sold for or what the neighbor’s current home is being sold for. Each home will have different square feet, updates, and condition of the property itself, which will affect value. Emotional value can lead to pricing the home wrong.
  • Realtor: Realtors have tools that can help define a value. They have access to all the relevant comps that have sold in the area. They know which can and cannot be used for your specific home. Realtors will also walk the property to review it and then compare back to the comps. Adjustments will be made for updates, condition, square feet, appliances and more. A Realtor does not have emotion when it comes to pricing. It is based on data and the home itself.

Forms:

  • FSBO: All forms must be purchased. A Seller must provide certain documents to potential buyers to keep in compliance. Sometimes the sellers cannot get access to the documents needed. If a buyer without an agent wants to make an offer, one of the parties must seek out a purchase agreement that both sides agree on using. You should not use a FREE or general agreement.
  • Realtor: A Realtor has access to all documents needed to put a home up for sale. From listing agreements to required documents that must be accessible by other Realtors. A Realtor also has a good purchase agreement that has been used many times.

Marketing:

  • FSBO: When you are selling the property on your own, you must find the best ways to get it in front of potential buyers. There are several websites out there and social media that can be used. Some of these websites connect with others, but you will be doing the marketing one by one, setting up new profiles, logins, and listings. When you make changes, you will need to login to each one and update the information and/or photos. Social media is good, but like real estate websites, you will have to post to each individually.
  • Realtor: When a Realtor does the marketing, they use the MLS. The MLS is a portal for thousands of Realtors and real estate professionals to search and find homes for their clients. The MLS also connects to thousands of other websites automatically sending out information on listed homes to be seen by potential buyers. When changes are made on the MLS, they are updated on the 3rd party websites in seconds. Realtors also use social media to connect with potential buyers and other Realtors. There are many platforms and sub-groups within these platforms that Realtors use. One of the biggest tools Realtors use, is email (CRM) to get the listing in front of Realtors and clients. Realtors keep solid databases of contacts to be able to market to them in a click of a button.

Showing Houses:

  • FSBO: Someone selling the home on their own will be taking all the calls on their own, setting up appointments, tracking the appointments, and then following up on the appointments. The FSBO must find ways to verify who is coming to see the home. How does a FSBO ensure that the people coming to their home, to go into their personal space, are Realtors with potential buyers and not just people wanting to wander through the home. FSBO also must provide access information to those who request to see the home. They provide lock boxes, leave the door open or stay to let the requested viewer in.
  • Realtors: A Realtor working to sell your home will monitor all showing requests. Realtors use technology and tools like ShowingTime to approve or reject showings based on the needs of their clients. Those who have access to request showings through this tool are licensed Realtors, allowing the Realtor and their client the safety of knowing that the person showing the home is legit. The tool also only allows lockbox codes once the showing is approved. Another tool Realtors use is electronic lockboxes. This adds another level of security, with being able to track access when it starts and ends. It also does not have the same code being used over and over. It uses the Realtors phone to connect with the box to get to the key. Realtors also get showing feedback from the showings that allow them to analyze the thoughts of the other Realtors and clients who have seen the property.

Offers:

  • FSBO: When an offer comes in to a FSBO, the home seller must review the doc and understand it in its entirety. Many purchase agreements have legal terms and deadlines that can affect the outcome of the sale. FSBO must negotiate with a professional Realtor. Another part of the offer is the review of the buyer’s mortgage approval. If there is a cash offer, this can be another challenge when requesting the docs to show the buyer can close cash.
  • Realtor: A Realtor handles offers of real estate for a living. They have seen the various wording and versions of local real estate companies and knows what to look for regarding price, deadlines, and concessions. Purchase agreements seem like boiler plates, but they can come with some legal issues if one side fails to perform. If there are issues found after the bottom line, it can be difficult, if impossible to correct. A Realtor knows what to review to not have issues. Realtors are also professionals when it comes to reviewing approvals from mortgage companies. They know the right questions to ask the mortgage companies. If a cash offer comes in, the Realtor knows how to request and review the right documents to make sure the cash is available to close.

Post Offer:

  • FSBO: After the bottom line of an offer the seller must make their home available and handle the inspection and appraisal, along with requested walk-throughs. Depending on the outcome of the inspection and appraisal more negotiations may happen to request a reduction of price or change to the terms of the purchase agreement. This can be difficult for a FSBO since they do not have access to comps and other current information or understand the write up of the inspection. It is much harder for a FSBO to argue appraisal valuation and the buyer’s agent will not help since they want the best pricing for the buyer. They do not work for seller.
  • Realtor: A Realtor will handle the inspection and appraisal. Your Realtor will review both the inspection and appraisal as it comes in. If there are additional negotiations, they will review the requests and make their opinions. Some buyer’s agents look to offer one price, knowing they will ask for a reduction after an inspection. Realtors also can review inspections to see if the requests are correct or just a way of getting a price reduction. A Realtor can help argue valuation if the appraisal comes in lower than the purchase price by proving comps that are recent and that match the subject property. A Realtor who prices the house right will have the information to back up value when an appraisal comes in lower than expected.

Closing:

  • FSBO: When documents come in for the closing. A FSBO will need to look at all the costs and understand what is being charged to them and to the buyers. A closing statement has a lot of fees, commissions, payoffs, and taxes. If there are errors in items like commission, you will need to negotiate and work that out with the buyers Realtor. Doing this can delay or cause the closing to not happen.
  • Realtor: A Realtor knows how to review all closing documents from the closing statement, the title work, and all docs required to sign. A Realtor will make sure that all charges are to the right party in order to have a smooth closing. Any discrepancies the Realtor should have documentation to back it up, especially commission, which is part of the listing.

 

If you have any questions about real estate or would like to buy or sell a home, Investment property, or commercial property in  Michigan, please e-mail us at info@mittenrealtygroup.com or call 248-294-7850.

Thank you,

Scott Fader and Gary Brincat
Mitten Realty Group, LLC

Mitten Realty Group is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.

The MLS or Multiple Listing System is a tool used by Real Estate professionals to list real estate or to locate properties. In order to get on the MLS you have only one way – USING A REALTOR or BROKER, but you have MULTIPLE OPTIONS on how you use the Realtor.

If you are looking to sell your home – For Sale by Owner, you do not want the services of the Realtor, just their access to the MLS. Some Realtors offer flat fee MLS only listing options that can start at $99 and go up from there depending on the options you choose.

When you speak to the Realtor, you will want to get specifics on what you are getting for your fee and if there are any hidden fees when the property closes or for changes. You also must be aware; you cannot pay the Realtor directly. The fee for the access to the MLS must go through the BROKER in which they work. The payment needs to be made to or through the broker. We do not recommend cash.

The MLS is a good way to get your property out to the masses, not just on the MLS, but to many 3rd party websites that pull information from the MLS. When the Realtor lists your home on the MLS, you will also want to make sure your contact information is being used. YOU WILL SEE THE REALTOR AND BROKER INFORMATION ON THE LISTING EVEN WITH THE FLAT FEE FOR SALE BY OWNER. You see this information, because the Realtor or Broker is still listing the property since it is the only way to get on MLS.

Part of the MLS is SHOWING TIME. This program is the scheduling system for Realtors to set up to show your property. The contact for this should also be your information.

If you are looking at getting your home on the MLS, please click on SERVICES BY STATE and sign up for the package in which you want. Private Realty Group can help get you listed in all 50 states.

If you have any questions about how to get on the MLS, please email us at info@mittenrealtygroup.com or call 248-294-7850.

Thank you,

Scott Fader and Gary Brincat
Mitten Realty Group, LLC

Mitten Realty Group is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.

An MLS only entry generally refers to a For Sale by Owner (LIMITED SERVICES) listing in which a Real Estate Broker places a listing onto the local MLS (multiple listing service) for a fee. Once placed on the MLS, the For Sale By owner seller handles all matters of the sale – from calls to showings to closings.

The MLS and the access to it is a valuable and cost saving tool for those choosing to sell For Sale by Owner. The properties listed on the MLS are seen by all the local Realtors for that MLS board who are looking for properties for their clients.

There are many companies across the United States that are either marketing companies that connect sellers with brokers to offer this MLS only service, or direct real estate Brokers who offer this service. Make sure the company you are signing up with lets you know which one they are. Both can be solid options for getting your home listed, but you will want to know who to communicate with once you sign up.

What do you typically get when you use the MLS ONLY (LIMITED) service from a real estate Broker?

  • Listing on the multiple listing service
    • Packages will vary from company to company
  • Your contact information in the listing to be contacted directly
    • The Brokers info will ALWAYS be in the listing since it is the only way to be placed on the MLS – they are not doing this to hijack your listing or buyer calls
  • Marketing on 3rd party sites like Zillow, Realtor and others.
    • Sites will vary depending on the MLS board and region
  • Showing Time or similar app.
    • This app is used to schedule and maintain showings on your home
  • Changes to the MLS
    • Price
    • Status
    • Open House

As a For Sale by Owner on the MLS, you will not have the same control as a full-service Realtor. 3rd party websites pull information from the MLS and your information may not pull with it. Realtors do not use Zillow and other 3rd party websites and cannot control them directly – they are updated and changed through the MLS. Even sites like REALTOR.com sound like they should be controlled by the listing company, but they too pull from the MLS.

MLS only listings typically do not get:

  • Someone to review and negotiate offers
  • Handle the process once under contract to get to closing
  • Review inspections and appraisals
  • Review closing docs

Some of the MLS only companies will offer Al a Carte services for those needing a little more help during the sale. Pricing will vary depending on the company.

If you are looking to sell your home and want access to the MLS of your local area, please visit www.FsboMadeEasy.com and click on Services by State. There you can sign up and connect with local Brokers who can get you listed on the MLS.

If you have a question about buying or selling your home, please reach out to Mitten Realty Group at 248-294-7850 or via email at info@mittenrealtygroup.com

Thank you,

Scott Fader and Gary Brincat
Mitten Realty Group, LLC

Mitten Realty Group is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success, and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.