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This article from Forbes magazine had some good points, things worth trying to get a house sold in this difficult environment we are in. You can read the full article here:
http://www.forbes.com/2008/10/21/homes-sale-fast-forbeslife-cx_wb_1021realestate.html
There were 5 points to be taken from it:
1-Position your listing in the right price range
2-Have information readily available about schools, taxes, utilities, neighborhood covenants/restrictions and anything regarding a lien that has to be relased prior to closing
3-Advertise to people who have just listed homes within a 5 mile radius of your listing. Possible they have kids and not wanting to leave the school district..worth trying.
4-Offer creative financing terms to attract more buyers
5-Use a private auction. If the reserve isn't met, the owner isn't obligated to sell.
Most of this sounds like textbook ideas, but many agents forget what some of their options are. Hope this helps someone.
Today, real estate in Charleston is changing! The blue and white signs you were familiar with around Charleston are coming down and the name is changing from Prudential Carolina Real Estate to Carolina One Real Estate, and affiliating with Leading Real Estate Companies of the World. The flexibility of a strong local brand tied to a global network will allow us to best serve the real estate needs of the Greater Charleston community. Leading Real Estate Companies of the World is a network of over 700 independent companies in 38 countries that does more real estate business than any franchise worldwide. Some Leading Real Estate Companies of the World members whose names you may recognize include Allen Tate, # 1 in North Carolina, and Long and Foster, #1 in the Virginia/Maryland area. Carolina One Real Estate has done business in Charleston under several different names over our 45 year history. Each decision to change was always based on what was in the best interest of our clients. As technology and consumer behaviors change, so must we. The impact of the Internet and alternative advertising trends, including the need for a global connection, especially for our luxury market, make us confident that the decision to become independent of a franchise is the right decision, both today and going forward. It allows us more flexibility to respond to local market needs; directs more of our marketing funds locally; and our new network immediately increases national and international exposure for all of our listings. What remains unchanged is the same continuing local ownership and leadership; the fact that we are the market leader, selling 3 of every 10 homes sold in Charleston; and our commitment to you. It's been a great changeover so far and agents and staff are excited. If you have any questions or are seeking an agent to assist in your buying or selling plans, please contact me today. Take care and have a teriffic week!! Bruce
Our company decided after many years of being a Prudential franchisee that they would become independent again and re-name the company. Our new name is Carolina One Real Estate, still the largest residential real estate firm in the region and more sales than our next 8 competitors combined. It has created a lot of excitement within the company, and agents have been busily changing out signs and getting used to the new name. As agents, the company has changed the payouts on many of the commission plans to put more money in our pockets, so that part was particularly welcome news. It is a great company to work for and there are so many long timers who have made it their real estate company of choice for many of the 45 years the company has been in business in Charleston. As always, Charleston remains a top tourist destination for so many reasons, and we welcome all of you to come for a visit. You won't see our old blue and white signs dotting the landscape anymore, now it will be blue and gold! Take care and much success to everyone out there in Active Rain-land.
Everyone keeps saying it is happening across the country. I used to enjoy the paper on the weekends, and now I see where our local paper, the Post & Courier is acknowledging the fact that due to declining readership, they have decided to do away with the business section of the paper on Sunday's. I believe this trend will continue as more and more people get their news from the internet sites. I read more news there, and see it duplicated in the paper the next day. That brings me to my next point, if less people are reading the paper, why do we still continue to pour real estate money into them? There are some folks who do look at the ads for Open Houses on the weekend, as I have had several people walk through houses that I had Open and told me that, so it does still occur. As for advertising, I can't see where spending money on newsprint ads will benefit anyone but the newspaper. If you were going to do any type of print ad, what kind of publications would you place them in? Assuming this would be on a local level. My focus this year will be to be selective with any advertising I do, and beef up my internet presence. I welcome any suggestions or comments that we can all use as times are changing and we all need to look at what works, rather than what used to work. Bruce
I impressed myself by selling a home to very picky buyers who wanted to buy as they were relocating due to job transfer. Once we found the right house that had been on the market for 19 days, at a $40,000 price reduction from a previous listing, we snapped it up and still managed to get another $6000 off the listing price. All was completed during the very busy and hectic Christmas and New Year's holidays, and closed in 23 days. At first it didn't seem possible, but I remained focused and kept my buyer's informed at every stage, repairs, inspection, addendums, and spoke to them frequently, reassuring them that everything would be fine. End result=satisfied client's who appreciated the extra mile I went to get the house they wanted at THEIR price. In this day and time, it is ever more important to focus on customer service and make your client's feel at ease. They want REALTOR'S who are going to work for them. Guess I am tooting my own horn, but sometimes it helps other's to know about successes and how you can improve your business just by making sure you don't drop the ball. Good luck to everyone in the upcoming year. Bruce
I have read about the subject on designations in real estate, and some people feel strongly that the more you have, and the quality of those that are recognized by the Realtor community, have benefited those individuals greatly. The big one I am bringing up today is the GRI designation. I told myself I wanted to attain this designation at some point in my career, and wonder out loud when that time should be: when business is slow, when I have achieved a certain level of business? It's a lengthy course that will require travel away from my home city to complete in it's entirety. Can anyone, who has achieved this designation, put a dollar amount on any increase in sales as a result, or even say they got a referral. I often read that as a selling point to many of the designations that are out there. Besides the great educational opportunity it will provide me, I need to know if it has brought more to the table. I welcome any comments on the subject. Good luck to all, Bruce
Just wanted to share the latest survey. Conde Nast Travel and Leisure Survey Charleston Home to the friendliest people in the country. Best Feature Historical sites/monuments (4.85) Worst Feature Sports fan's vacation (2.74) Rank according to:
You can see people or signs marketing their home stating they are below market value or below appraised value and think that will make the home sell. They will also disclose that if the home is sold using a realtor the price of the home will be increased. This increased price will cover the costs of professional commissions. As a seller this can backfire and would encourage you to market your home at the best value that would include professional fees, just like when you go to the doctor. Market value is determined by what a buyer will pay for something and what is the best price a seller can get for what they are selling. This is the exact same concept that is used with the stock market. At this time we are in a buyers market and buyers are determining much of the prices. This is also cyclical as it will swing back to a sellers market in the future... and again back to a buyers market over time. Many real estate professionals will not take on the responsibility of listing a home if they believe it is above market value or over priced. There are some agents that will take on a listing based on what the homeowner dictates regardless of their knowledge of the area. In these cases this increases the inventory of homes in the area as well as the amount of time a home will remain for sale. Homes will sell if priced right and marketed correctly. A professional realtor can help provide guidance as to a price range that your home may sell. And when buying they can provide assistance with what the homes in the area of your search or being offered at, amenities and what has sold. Know before you buy or sell... and you will be able to get the best value for your home on either side of the closing table.
Is anyone familiar with the Accredited Home-Staging Specialist designation course, through RealtyU? It sounds like a good course to take, but just curious if anyone on AR has taken it or knows anything about it that would tell me not to do it. It's $199 to take it online. Not a bad price, but will it be worth my time? I am reading more and more about the importance of staging, and as a Realtor, it helps to have knowledge in as many categories as we can. I know it will not replace what a professional stager can provide, but just to have more insight and vision to tell a seller what they might need to do to their home before listing it for sale. We need all the help we can get.
Our company is complying with a state license law that requires the office to keep a copy of a Buyer's Representation Agreement on file in the office, 2 days after obtaining a signature. It'll be interesting to see how many of these start flowing into the office. A lot of agent's say they are working with buyer's all the time and there really is no evidence of that unless the buyer's sign a contract to purchase. Many people hate these agreements, and don't want to sign one. They say they are just looking and don't want to be locked in to anything. I realize it is a good business practice, as you are protecting yourself from working with buyer's who aren't serious, or who may just wander off and never be heard from again. I know this has been beat to death on AR, but what are some good scripts to come up with to tell buyer's that it is in their best interest to sign an agreement with you?
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Bruce Mullen
Charleston,
SC
More about me…
Carolina One Real Estate
Address: 873 Orleans Road Suite 102, Charleston, SC, 29407
Office Phone: (843) 965-8424
Cell Phone: (843) 224-4996
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