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Desi Member Showcase presents
Jay Yanamandala, Owner- Realtor, SUV
We proudly introduce long-time
Evergreen Desi member and realtor, Mr. Jay Yanamandala
of SUV Realty.
Mr. Jay Yanamandala is the Premium Sponsor
of the Ist Annual Evergreen Desi Diwali Party 2005 to be
held in Mt Hamilton Grange Hall, on Nov. 11, 2005. We thank
him for his generous support.
Jay Yanamandala is the owner - realtor of SUV Realty,
a private firm offering real estate services in the Evergreen
area of San Jose, CA.
Mr Jay Yanamandala has a background in finance and a specialized
knowledge of the US housing and financial markets.
Yanamandala is uniquely positioned to serve the real estate
needs of the local Indian community as he has a similar
educational background and understands their deepest concerns.
Desi Buzz had an opportunity to talk to Jay Yanamandala recently.
"I give around 20-25% of my commission as cash
back to buyers at closing."
made you decide to start SUV Realty?
through the process of buying my own home sparked my interest
in becoming a realtor. Buying a home is an intricate process
and I found every detail very interesting. I would scour
the web trying to find more information
interest in real estate and the housing market continued
even after I bought my home. I became a sort of informal
resource for my friends who would ask me questions about
all the different legal terms and their significance.
I was more than happy to help. That was when I realized
that I wanted to help others so that they would have a
home buying and selling experience just as satisfying
so I started my firm, SUV
are the services that SUV Realty offers?
and selling a home is a very involved process. This is a big
ticket item since homes are so expensive. There are laws that
protect buyers and sellers, esp. the buyers, but not many understand
the legal ramifications. I advise my clients to take the time
to understand the whole process before moving forward. I explain
the importance of location, the importance of looking at the
whole picture. My clients know that I am always available to
to answer any home buying or selling questions they have.
I have set up my SUV Realty
website with my client's interests in mind. A number of
my clients are techies and prefer to quickly get their information
through the computer. They dont have the time to sit in their
offices for hours every week and go through all the MLS listings.
At the same time, they dont want to miss an opportunity to see
what has become available. Therefore, I have designed my SUV
Realty website in such a way that any client can set up
searches based on their personal criteria. Whenever a property
that matches their search criteria comes on the market, the
search agent registers a hit and the client will get an automatic
e-mail notification. This saves them the need to go through
all the listings and my clients really appreciate this.
have a very good and personalized understanding of my clients.
Based on this, I try to find ways to help them out. For instance,
at the time of closing, most buyers are strapped for cash. So
I give cashback to buyers at closing for upto 20% of my commission
- limit on cash back at closing is set by the loan underwriter.
The remaining amount is paid after close of escrow.
keep coming across information that would be potentially useful
to my clients. For example, a lot of my clients are interested
in the schools of a certain area. Others are looking for a reliable
contractor. As a free service to my clients I collect these
kinds of information and place it on my website. So my clients
dont need to struggle and research a particular area, when looking
for home buying or selling information.
my clients make informed decisions about one of the most
important purchases of their lives gives me a lot of satisfaction."
Jay Yanamandala, with his wife, Lakshmi and daughter Mounica,
us about a memorable incident with your clients that still
gives you a lot of satisfaction.
Every client is unique and every deal has something
memorable associated with it. An incident...Once, one
of my clients was about to write up an offer. I knew he
was married so I told him to call his wife so she could
sign it as well. As you may know, an offer letter signed
by both parties has a better chance of going through,
although an offer letter need not be signed by both parties
to be accepted.
client was puzzled and replied that since the loan will
be in his name, he wanted only his name to appear on the
offer letter. I explained the California state laws governing
community property to him, including all the potential
legal issues that might arise as a result of his action.
My client was not familiar with the concept of a QuitClaim
deed so I explained that to him as well.
making sure he fully understood the process, I advised
him to talk to the loan officer again. My client was very
grateful to me for having taken the time to give him such
detailed explanations and for saving him from making a
aspect of your business gives you the most personal satisfaction?
my buyers make informed decisions about one of the most
important purchases of their lives gives me a lot of satisfaction.
In addition, in the course of my business dealings I get
to meet a lot of people who can become part of my sphere
am always willing to go the extra mile to close the deal."
Mr. Jay Yanamandala
differentiates you from your competitors? What are your
have a techie background, like many of my clients. So
I really understand their concerns. I research my client's
area of interest and find all the information they need
to assist them in making an informed decision. But I dont
try to influence their decision one way or the other.
My job is to present the facts in an unbiased way.
my clients decide on a house I leave no stone unturned
to facilitate the process of acquiring it.
I make sure they meet all their deadlines. This includes
getting information back to them in a timely manner as
and when they need it, and making sure that the documents
they signed reach the other party asap. I make it a point
to use the latest CAR forms.
us a little background about yourself which you consider relevant
to your present business?
I was an entrepreneur in India. I did my Master's in Finance
and that gave me a very good grounding and background for my
present work. I have a specialized knowledge of the US financial
and real-estate markets. Studying the market was, initially,
my hobby but now it has become my full-time job. I had to pass
my broker exam and while studying for that, I did a lot of reading
and research in this field.
on your experiences as a realtor, do you have any
general advice for sellers and buyers?
Buyers tend to focus only on the home which is up
for sale. But, in reality, the resale value of the
property depends on many other factors. They should
try to gather as much information as possible. Thankfully,
in these days of the internet, all this information
is easily available.
should consider the average age of the surrounding
homes and the frontage of those homes, account for
any area renovations, any new developments, crime
statistics, the interest of other buyers, traffic
issues etc. All these factors can affect the future
value of the house.
instance, the Evergreen area of San Jose is a prime
area for home sales and resales. Nearly 75% of all
new construction in San Jose is taking place here.
The schools are also doing well here, so houses
in this area will automatically have a good resale
buyers are interested in the Evergreen area, they
can look on my SUV
Realty website for some of this information.
would urge prospective buyers to thoroughly study
a prospective area before deciding on making a bid
on a house. These days, houses get multiple bids
on them and sell for well over asking price. Too
often, I see buyers get caught up in a bidding frenzy
and simply bidding on a property without thinking
things through. There is no point in suffering buyer's
remorse later on. Do your homework first.
"The relationship between the realtor and
the client is based on trust."
it's an older home, the buyers should find out who
the builder is and get the complete record of professional
inspections as and when they were done. They should
definitely obtain records of any major repairs or
upgrades and understand why they were made. They
should check the roof to see if it needs to be upgraded.
older homes have outdated electrical wiring that
cannot sustain the load of a home office, scanner,
printer, fax, modem etc. Replacing these can be
very expensive. So checking these things in advance
is very important.
it's a new home or a newer home that is on sale, then
the client needs to speak to the builder. They need to
find out about the materials that were used in the house
construction, including the roof and the wiring. If the
builder is going to put in appliances, then they need
to make sure they understand the general conditions of
the warranty. They should find out about the CCRs. If
they can afford it, they should take a professional inspector
along to help them evaluate the property. If they decide
to do this, thay should make sure they have the permission
of the people who own the property or are showcasing the
What general advice do you have
you are a seller in this market, you should not have a
very tough time selling. But making certain basic preparations
will leave a good impression on prospective buyers.
should remove clutter and any extra furniture from the
rooms. This will make the rooms look bigger. As far as
possible, try not to be present around buyers when they
are looking over the home. And if you are, then you should
speak only when spoken to.
most importantly, let your realtor handle the situation.
This is his/her job and one he/she is well prepared for.
did you hear of Evergreen Desis? How has this organization helped
moved to this area four years ago. I came to know about the
Evergreen Desi mailing list through my wife, Lakshmi, who was
a member. She had joined the group when a friend of ours had
recommended the mailing list.
the Evergreen Desi list has helped me. I learned a lot about
the community through this group. This knowledge helps me in
my real-estate business.
now make it a point to recommend this list to my Indian clients
who purchase homes in the Evergreen area. It serves as an added
attraction to potential Indian buyers that there is such a large,
thriving Indian community in this area.
about Mr. Jay Yanamandala and SUV Realty is available at his
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