working with sellers: Are You An Average Realtor? - 10/24/11 06:09 PM
Many Realtors when determining the value of a property utilize the Average Cost per Square Foot Method. Simple enough. You pull up the neighborhood on MLS, pull the sales for the last six months or so. Do the math to determine what the average price per foot for the sales comes to then you apply that number to the square footage of the home .. Bingo you have the answer. A third grade mathematics exercise that Realtors trust to be the best way to determine the price a home is worth.
What if I were to tell you that … (15 comments)
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working with sellers: If Your Mother Wouldn't Approve, Why Would A Buyer? - 08/11/11 08:27 PM
We have all been there, showing a home and then then a pause and in full glory for all to view is the object that will now take the focus away from the home.
Such was the case when I was out with a client. A refrigerator magnet reading "I give the world's best _ _ _ _. I'll let your imagination fill in the four letter blanks. Well, needless to say the good natured clients I was out with and thankfully young buyers just stared - comments began. It was downhill from that point. With chuckles for the … (10 comments)
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working with sellers: Do You Have Your Listings Walmart Priced? - 04/18/11 08:48 AM
Attention Walmart shoppers, today in aisle 4, the home product section, we have our featured home on special today. Like all of our homes, we have all our homes with a discount priced special value and we do price match for satisfaction.
There are many strategies regarding how to price position your home. Many who with passion defend their method of the best visual price to give your home a standout edge.
One method is to price your home with odd numbers like - $429,957. The theory is that as the properties in a price range are pulled up on a MLS search … (17 comments)
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working with sellers: Jumping Over the Home Repair Hurdle - 03/18/11 08:42 AM
We are about to approach one of the most painful parts of the purchase transaction ... the home inspection and Amendment to the Contract for repairs.
This hurdle is not only one of emotion for the sellers and buyers but is also one of the lawyers' personal favorites for legal battles.
It begins with the property inspection. Items cited as deficient. The amendment to do certain repairs is presented to the seller. Then the fireworks begin! The seller has just never seen a more outrageous report, how picky can an inspector be, just ridiculous! We have heard this outcry many … (16 comments)
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working with sellers: Does the History of a Home Affect the Value? - 03/15/11 10:04 PM
When researching the potential value of a home, one important piece of information is the history. This critical component to the analysis is often overlooked as we scramble to locate ideal comparable sold properties.
Just as important as sales surrounding the home is the archive search for a glimpse into the past to what has currently taken place.
When providing an analysis for a buyer this should be a key element to provide to your client prior to an offer. When you are invited for a potential listing opportunity, the history gives us great insight. This especially holds true if … (16 comments)
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working with sellers: Can You Share Things Learned on a Listing Appointment? - 03/10/11 09:49 AM
When visiting with sellers on a listing appointment there often is confidential information shared. There is an interaction of information exchanged from the value of the home to circumstances for their move. You may even find out what they would accept for the bottom line of the purchase price.
The selection of the Realtor to represent the sellers is not awarded to you and is given to another agency. Many times when the news is delivered they will say, please bring us a buyer, we would love for your to sale our home! As fate would have it you have … (14 comments)
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working with sellers: Piecing a CMA Together - 03/07/11 06:56 PM
Keep it simple .. always a great rule of thumb as you are explaining parts of the process of real estate to your clients. The explanation on how you prepared your CMA can be challenging, especially if you do not have a seasoned buyer/seller. To avoid the blank stares and engage them into a visual understanding, I came up with an analogy that I use when I teach CMA classes as well as discuss with clients.
Picture that all aspects of your home are like a Jigsaw Puzzle. Each piece represents an intricate part/amenity regarding your property and it … (6 comments)
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working with sellers: ASSUME ... We All Know Where that Can Lead - 03/05/11 02:39 PM
One rule in our business ... Never Assume Anything! Yet on a daily bases we get in a hurry or fall into our relaxed mode and the checks of our systems goes by the wayside.
Such is the case when it comes to our email communication with our clients and parties to a transaction. We send a well thought out email outlining bullet points, etc.
Did you call/text the receiver that the email was forth coming or ask for a reply on the email to acknowledge receipt? If you were waiting for a reply and received no communication back did … (9 comments)
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working with sellers: It's Great to Be Needed! - 03/03/11 08:33 AM
Today in Real Estate we are surrounded by the latest and greatest tools. Buyers now pre-screen and do their shopping for homes on the Internet, email and text us with what they wish to view. Technology .. imperative that we embrace all the benefits and conveniences that it has to offer.
The more immediate the information that can be provided to the buyer the better. Patience is a thing of the past as more and more demands to incorporate these tools for faster delivery and details is placed on the Realtor to provide.
When the Internet first came … (12 comments)
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working with sellers: Are You Listening .. Then Asking the Right Questions? - 02/27/11 10:24 PM
Often when we are working with clients we feel we need to be the one to sell our self, talk about our services, talk about the home when showing the property to a buyer ... talk, talk.
Most success in the business comes from those who know how to listen. Listen to what the client needs are, how they wish communication to be delivered and when, what their expectation area for your services.
Seek first to listen and then to be heard. Mr. & Mrs. Buyer, what is about the home that you liked, didn't like and then why? … (7 comments)
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working with sellers: How Do You Know You Won't Get the Listing? - 02/19/11 12:23 PM
I received a call from a relocation company and they asked that I be one of two Realtors to interview with the transferee and do the ERC BMA reportfor them to to review. Yipee .. opportunity and it was a wonderful home located in a highly desired location and neighborhood. Double jig and yipee!
I visit with the owner & set up an appointment. In preparation, I drive by the home to get a grasp of the site, architectural style, etc. and what do I see ... A Realtor's sign (not a FSBO sign) in the front yard. Hmmm .. … (8 comments)
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working with sellers: Always a Bridesmaid, Never the Bride - 02/15/11 07:30 PM
Your listing has been shown and the interest is high. You receive the exciting call, second, third showing with the same buyer. You follow up with the buyer's agent and are told your home is one of the top 3 under consideration. Then the news ...
Your home was the second choice for my client and they have moved forward on an offer on another property.
The same scenario repeats itself again and possibly again. What can you as a listing agent do to make your home the one that becomes the bride?
Pricing - At this point … (17 comments)
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working with sellers: You Spoke with Heart - 02/13/11 10:50 PM
I answered a phone call and was excited to hear from a client I had represented as their listing agent about 2 years ago. They were moving back to the area as a job position became available with his company and they missed our community.
I was honored that they now were wanting to work with me as their buyers agent to find them their new home. I expressed appreciation for the opportunity and told them I was very flattered that they kept me in mind for this very important task. The response is one that I will always remember … (9 comments)
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working with sellers: Dual Agency - What Side of the Fence are You On? - 04/22/09 05:47 PM
When you list homes and work with buyers the opportunity on occasion will present itself, both sides of the transaction. Such is the case for me, I have a home listed and received a sign call that developed into an interested buyer. What a fantastic opportunity but one that needed to be treated with caution.
In the state of Texas we have the ability to work on both sides of the transaction through what is defined as Intermediary Relationship. There are many responsibilities of this relationship but one clear defining line; you must act as a mediator for … (273 comments)
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working with sellers: Need to Explain How You Did a Market Analysis - It's Easy! - 04/02/09 06:38 AM
Ever at a loss of how to explain in simple terms the valuation of a home? You have prepared an analysis of a property value for your clients and now are visiting with them with blank stares across the room. Maybe that electrical engineer is quizzing you and they just can't quite grasp how you derived at you range or recommendation.
Task made easy ... give them a visual image. Explain that you have thoughtfully prepared an analysis that mirrors what the buyers in a market are willing to pay for a home. Take them through these steps to stir them … (14 comments)
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