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Springfield Mo Real Estate - A Lesson in Real Estate - Kay Van Kampen

By Kay Van Kampen

Real Estate Agent with RE/MAX Broker, RE/MAX 1999033519

February 20, 2008 12:43 PM

Springfield Mo Real Estate is not the same market as other communities around the country. As a realtor in Springfield Missouri, I give buyers and sellers a lesson in Real Estate every day.

Living Room View

Have you heard recently negative comments from the National New media about the housing market? Has your local new media discussed the market in your community? Mine is actually talking positive about the market.

So why am I getting feedback from realtors commenting that our bank-owned properties are too high........because they are bank owned? ARE YOU CRAZY? THAT'S THE SUPIDEST COMMENT I'VE EVER HEARD ! You're one of those realtors that hasn't done their homework.

I'm here to tell you the majority of our bank-owned properties sell between 97% and 107% of asking price.

Here's why:

Our listings are required to be cleaned out,......all homes are winterized.......utilities and heat are on.

The biggest reason we sell between 97% and 107% of asking price......we have done our homework. The bank has already had three Broker Price Opinions completed on the home. When the bank sets the price, that price is already reduced! Bank owned properties in the Springfield Missouri Real Estate market are great buys.

Kitchen View Lesson 1. When you submit offers for your clients, do you complete a market analysis before you write an offer? I DO. I want them to see the home is already below market.

Lesson 2. Do you show the buyer the price is already reduced? I DO. I want them to feel the home they are buying was a great buy.

Lesson 3. Do you advise them to make reasonable offers based on Lesson 1 and 2? I DO. If they really want the home, they will not be upset when they miss a good buy after you advise them NOT to make a ridiculous offer.

Today, we sold 3 bank owned properties....

THE WINNERS are the buyers that make reasonable offers.....remember our stats are between 97% and 107% of asking price. Oh, by the way, usually bank-owned properties sell fast....that means you get paid fast too.

Kay Van Kampen Team

Springfield Missouri Real Estate

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Charlottesville Solutions

Charlottesville Solutions - Charlottesville, VA

Kay you are hitting home runs with your approach! excellent work!

Your Friend in Charlottesville!

Feb 20, 2008 10:51 PM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Charles McDonald / Your Trusted Agent for Charlottesville Real Estate Thanks Charles. Can you tell that with every home we sold yesterday, we had several additional offers that were so low, it caused us to have "highest and best" offers? It's causing the homes to sell higher (great for the bank). However, this is happening with owner occupied homes too. Our prices are comparable to 2006. We're doing great!

Feb 20, 2008 11:22 PM

Lissa Uder

RE/MAX Next Generation, LLC - Lebanon, MO

Your Lebanon MO Real Estate Agent

What makes people think that a bank owned home is worth any less just because it's bank owned? Alot of agents have that same attitude here in Lebanon, and I never quite understood it. If they took the same approach as you, they and their clients would see that there is still a deal hidden in the price of the home.

Feb 20, 2008 11:53 PM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Lissa Uder I have no idea why agents think bank owned properties are worth less than other homes. I can tell you agents lose out when they low ball a home instead of making a reasonable offer.

Feb 21, 2008 10:39 AM

Jim Crawford

Long & Foster - Fredericksburg, VA

Jim Crawford Broker Associate Fredericksburg VA

Kay...everyone that works with you will be winners!

Feb 21, 2008 10:55 AM

Lissa Uder

RE/MAX Next Generation, LLC - Lebanon, MO

Your Lebanon MO Real Estate Agent

I couldn't agree with you more!

Feb 21, 2008 10:56 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Jim Crawford ~ Atlanta Real Estate-ABR E-PRO Thanks Jim....we have received 6 or 7 offers this week that are a total waste of our times. The banks look at the bottom dollar. Our sellers just get furious......bad for them and sets a poor example for realtors. Glad to hear from you.

Feb 21, 2008 11:10 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Lissa, thanks.

Feb 21, 2008 11:11 AM

Ray Nellum

Envision Real Estate Group, LLC. - Fort Smith, AR

Fort Smith Real Estate

Kay, I agree. It's very important to do your homework in this market. As professionals, it's our responsibility to educate our clients.

Feb 21, 2008 02:19 PM

Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Kay - It is funny that people assume that bank owned properties should be x percentage below everything else on the market. Most bank owned properties are decent deals to begin with. People hear bank owned and they think it should be way way under market. Obviously if they are selling quickly and close to or higher than asking they are priced right.

Feb 22, 2008 03:38 PM

Monika McGillicuddy

Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH

Southern NH & the Seacoast Area

Many of our bank owned homes are in terrible condition with no heat or power. Today I showed one that had not been plowed out or shoveled. It was cold inside as well as outside.

It sounds like your bank owned homes are in much better condition than the ones in NH are.

Feb 23, 2008 10:29 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Ray Nellum, Fort Smith Real Estate The public has listened to the media and really don't know the true story. You are right.....education is vital. Thanks

Bill Gassett Metrowest Massachusetts Real Estate Bill you are so right. Unfortunately, sellers aren't willing to drop their prices to match. If so, many would take a loss.

Monika McGillicuddy~ N.H. Real Estate Broker & Trainer Monika, we have field auditors that check the conditions of our properties. And we are graded to insure our work is done on time. I look to pick up at least five more banks this year. Some realtors here that work bank repos never have the utilities on.

Feb 24, 2008 11:34 AM

Ray Nellum

Envision Real Estate Group, LLC. - Fort Smith, AR

Fort Smith Real Estate

Kay, that's excellent information and you are doing a great job at providing great information. Keep telling it the way it is!!!

Feb 29, 2008 12:23 PM

Kimberly Grant

Exit Leon Crawford Realty - Huntsville, AL

Real Estate Agent - Huntsville Alabama

Great post Kay. I think this is so true and I agree with you. First we must be very knowledgeable about our markets in order to give the best information for our clients. I think we have a duty to educate our clients so they can make the best decisions they can.

Mar 01, 2008 09:36 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Ray Nellum, Fort Smith Real Estate Ray, thank you. We sold three more this past week....wish our owner occupied homes were selling as fast.

Mar 02, 2008 12:47 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Huntsville Alabama Real Estate Agent, Kimberly Grant Kimberly, the market in our area is strong. I believe we will have a better year than last year. Clients should be agressive to buy right now with the great interest rates. Thanks for posting.

Mar 02, 2008 12:48 AM