Tuesday, November 4th, 2014 at 10:30am. 19 Views, 0 Comments.
You may not give much thought to how other agents in your marketplace view the agent you hire, but it does make a difference - in fact, it makes a big difference.
If your agent has a reputation for being difficult to deal with, or if his or her listings are consistently overpriced, other agents will pass them by, no matter how enticing the ads are. They may come back later to view your home, but only after all other possibilities are exhausted.
One reason why I sell more homes is that other agents trust me. They know that when I prepare a market analysis for my sellers, it will be accurate and current. They know that I won't take an overpriced listing, just to have in my files.
They also know that the information in MLS will be truthful. Thus,…
Tuesday, November 4th, 2014 at 8:29am. 9 Views, 0 Comments.
Marketing: If no one sees your home, no one can purchase!
Inadequate marketing may well be the reason why your home didn't sell.
The days when an agent could simply put your basic information into a Multiple Listing Service, put a sign in the yard, and wait for a buyer are gone. So are the days when it was "good enough" to place a little ad in a homes magazine or the local newspaper.
Unfortunately, our industry is still filled with what I call "List it and forget it" agents. They simply list as many homes as possible, then hope that some other agent will come along and sell them. You may have accidentally listed with an agent who told a good story, but didn't follow it with action.
Those of us who are actually selling homes today are doing…
Monday, November 3rd, 2014 at 12:25pm. 5 Views, 0 Comments.
Now that your home is de-cluttered and sparkling clean from top to bottom, its time to add the final touch: staging. If you have interior decorating skills, you will have already done this yourself, but most of us simply aren't that artistic and we need a little help.
Staging is the art of placing the items in your home for their most appealing effect. It can mean adding a vase of flowers here or a bright throw rug there. Stagers often place mirrors in strategic spots to make a space appear larger or brighter, and re-arrange furniture for the same reason.
A good stager will advise you about items you should remove while the house is for sale - such as family photos, trophies, collections, and anything that announces your political or religious…
Monday, November 3rd, 2014 at 11:19am. 6 Views, 0 Comments.
No matter how well your agent markets your home, and no matter how many buyers see it, their desire to own it will come down to Presentation. That's your job - and it consists of four parts.
- Getting the home ready
- Doing last-minute prep when buyers are coming
- Making the home available at almost all times
- Getting yourself and your pets out of the house for showings
Presentation is more important in today's market than it has ever been before. Your competition is fierce, and small things can cause a buyer to think that a house has not had proper maintenance and upkeep.
A dripping faucet or a cracked window pane can make buyers believe that there are other more serious problems that they just can't see. And of course, things like…
Monday, November 3rd, 2014 at 9:11am. 5 Views, 0 Comments.
Most of us love space - space to stash all our treasures and space to move around in freely. Unfortunately, we also love "stuff," and most of us collect far too much of it.
The result often is a home that's cluttered and appears to be much smaller than it is. There's that extra chair in the living room that should have been moved out when you got the new recliner, the set of dinnerware that you haven't used since you got the new ones, and the exercise machine that serves as a clothes rack in the bedroom. You can probably name an item or two right now that's merely taking up space in your home.
Most of us have at least one or two items in every room that we don't use and probably won't ever use. And most of us have clothes and shoes in our closets…
Saturday, November 1st, 2014 at 11:07am. 4 Views, 0 Comments.
What your prospective buyers see when they drive up in front of your house can actually determine what they will see when they get inside.
That may sound strange, but we humans are strange. There's no getting away from it. Our brains pick out what we're expecting to see and often ignore that which we don't expect.
Thus, when a buyer arrives in front of your house and sees the lawn neatly mowed, the flower beds weeded and sporting fresh mulch, and the front door freshly painted, he expects to see "clean, attractive, and well-maintained" when he gets inside. His initial impression of "This is nice" will carry through and he'll automatically pick out all the "nice" features inside.
On the other hand, if the gate is hanging by one hinge, the fence…
Saturday, November 1st, 2014 at 10:03am. 4 Views, 0 Comments.
Pricing is a critical element in offering a home for sale, and unfortunately it's often done wrong. Sometimes that's the agent's fault, and sometimes it's the homeowner's.
We'll start with the agent. The sad truth is that some agents try to "buy listings" by promising homeowners unrealistic prices. They say they can get a higher price than anyone else can... which is nonsense. The market determines the price.
The only way to price a home correctly is to first compare it honestly with recent sales of homes that are very similar in size, location, amenities, and condition. Then, because the market is constantly changing, it needs to be compared to homes currently for sale. In other words, compare it to the competition.
Over pricing a home can…
Saturday, November 1st, 2014 at 8:58am. 4 Views, 0 Comments.
Right now you're probably feeling frustrated, depressed, and maybe just a bit angry. You listed your home expecting it to be sold and expecting to be on your way to a new home or a new adventure by now.
Instead, you watched your home expire off the market unsold.
What happened? Why isn't it sold?
One of three vital factors was somehow "off." Even in a market that has a year's worth of inventory, a home will sell in a reasonable amount of time if the following three elements are done correctly:
Your agent should have advised you about the proper price for your home in today's market. Unfortunately, some agents are afraid to tell you the truth about pricing, because the market is down and they know…
Friday, October 31st, 2014 at 5:50pm. 5 Views, 0 Comments.
When an investment such as your multi-family property is offered to the market but doesn’t sell, it’s time to figure out what went wrong and change it. Because there are buyers looking for investments.
Usually, the reason falls into one or more of 4 categories: Price, presentation of the financial documents, marketing, and negotiations.
We’ve talked about all 4, but just to recap:
The Price must be determined based on income potential versus expenses. The buyer isn’t going to live there, so extra amenities only count if they mean higher rents.
The presentation is all about presenting the financials, not about creating a desire to live in the property.
The marketing is different from single family home marketing. When we market…
Friday, October 31st, 2014 at 12:43pm. 6 Views, 0 Comments.
People who don’t work in real estate are always amazed to learn that finding the buyer isn’t the biggest challenge in real estate. The biggest challenge is in getting the transaction from the offer stage all the way to closing.
This is true with single family homes, and true with multi-family and other commercial property.
Inspections can cause problems, as can appraisals. And with investment properties, the financial information can play a huge role in both issues. Unless your agent knows how to negotiate with buyers over those issues, your promising sale can wither and die.
Inspections: When the inspector finds a problem, you need to know first if it impacts the safety or longevity of the building. Then, because return on investment is the…