selling a home: Oh, That Darn Appraisal
- 02/22/13 09:35 AM
It was the picture-perfect deal. The buyer found his first home, and he was bubbling over with excitement. The seller had an offer to feel good about. Inspection was done. A few repairs were requested. And the repairs were made.
But then the call came. Appraisal came in low.
That one always stings. Doesn't matter if it comes in just a couple thousand under the purchase price or several thousand under. Someone is telling the seller that their house is not worth what the buyer is willing to pay. Ouch.
Even with the most accurate comps and proper adjustments for improvements, it is … (7 comments)
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selling a home: Which Comes First -- Listing or Buying?
- 09/29/12 06:12 AM
In a recent conversation with a new buyer who would also be selling her house, the question came up as to when she should put her house on the market. Does she list it now and hope that she's found a new place by the time she gets an offer on hers, or does she wait to list it until she has an accepted offer on a new place? The table below outlines why listing your house before you have an accepted offer on another home gives you more negotiating power on both the selling and buying end.
There are, of … (14 comments)
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selling a home: Do You Choose a Real Estate Company or a Real Estate Agent?
- 08/28/12 01:43 AM
DO YOU CHOOSE A REAL ESTATE COMPANY OR A REAL ESTATE AGENT?
I had lunch recently with a colleague and friend, and among the many things we talked about was--
Does a buyer or seller choose a company or an agent to work with?
As real estate agents, we tend to track where our business comes from. It helps us determine which marketing methods are providing the best return.
Are we getting calls off our personal web site?
Are we getting calls off the sign in front of our listing?
Did the client find us on our company's web site or … (3 comments)
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selling a home: I'm Realizing I'm Having a Hard Time Letting Go
- 01/13/12 04:56 AM
I received a call early this morning from one of my sellers to let me know she decided to accept the latest counter offer we received from the buyer who had written an offer on her house. Admittedly, I breathed a sigh of relief.
It's a great offer. Clean, fair, and a pretty quick closing, too. But getting this to the "accepted offer" status wasn't as easy as I thought it would be. And this morning I found out why.
It came down to the realization that agreeing to this latest counter offer meant taking one step closer to letting go … (10 comments)
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selling a home: What I Ask of Myself
- 09/16/11 04:59 AM
I recently wrote a couple blog posts, What I Ask of My Buyers and What I Ask of My Sellers. Time to turn the table on me. Here's what I ask of myself -- my check list of what I owe my buyers and sellers.
Be Honest-- Tell the truth about the current market conditions. If your house is priced higher than the market can handle, I will tell you. I will provide you with the feedback we receive from private showings and open houses, whether it's positive or negative. If your expectations of what you want in a house is not … (2 comments)
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selling a home: What I Ask of My Sellers
- 09/05/11 03:55 PM
A couple of days ago I wrote a post, What I Ask of My Buyers. Now it's my seller's turn.
These past couple of years have been especially challenging for sellers and agents alike. I really think it's more important than ever to work together, as a team, to get the job done. So here is what I ask of you.
Honesty -- Why are you moving? Has there been a job loss? Is there a pending divorce? Are you upside down on your mortgage? I know it can be embarrassing and scary to have to talk about the more … (3 comments)
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selling a home: When a Solid Deal Melts Away
- 03/23/11 11:09 AM
It happened last night. I got that call every real estate agent dreads. "My buyer wants out."
Ugh.
It was a solid deal. There was no reason to think things would take a turn over the next few days. But then the phone calls start coming in from the buyer's agent, and you can just feel that this solid deal is melting away.
Yet until you actually hear the words, you hold out every bit of hope that the buyer will see things clearly and meet you and your sellers at the closing table. But that just wasn't the case this time.
… (59 comments)
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selling a home: Short and Sweet -- Price MATTERS!
- 02/20/11 02:39 AM
Probably one of the most common areas of discussion between a seller and their agent is price. Is the seller pricing their house to sell it or is it priced based on what they want or need to net from the sale?
Sometimes no matter what stats, blog post, or newspaper article I show a seller, they just don't see that a house has to be priced to sell. It doesn't matter to a buyer how much they need or want to walk away with at closing.
The other day a past seller had posted her opinion on pricing on my Facebook … (4 comments)
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selling a home: What is it Worth to You to Be Able to Move On?
- 01/21/11 12:13 AM
I recently received an offer on one of my past listings from a "protected buyer." The sellers are no longer together but are still tied to one another because of this house.
Both told me individually that it's time to move on -- that they needed to be done with this. I could hear in each of their voices the "wear and tear" this house was putting on them. You can't help but feel for them.
The parties in the transaction were far apart on the price, and it was easy to see why. It's simply a difference in perspective. … (10 comments)
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selling a home: What Do You Do When Emotions Run High??
- 12/06/10 04:05 AM
Emotions seem to be running high with buyers and sellers these days.
I state the obvious when I say the market is tough out there. It can be brutal sometimes. And this has pushed levels of frustration, sensitivity, and even anger to a new high.
Sellers don't understand how a buyer can't see the value of the work they've done to the house over the past several years. And buyers wonder how the seller can't see that the dated carpet and knicked up counters need some attention.
How can I help my buyers and sellers--and quite frankly me--keep these emotions in check?
… (4 comments)
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selling a home: The Choice is Up to You -- What Do You Choose?
- 11/08/10 05:35 AM
In 53 days most of us will be gathering with family and friends and counting down to the beginning of a new year, new opportunities, new beginnings. A fresh start. Some might even believe that when we flip that calendar to January 1, 2011 all the challenges of this real esate market will magically fade away.
If only...
Once again I was reminded this morning that sometimes there is only so much we can do for our buyers and sellers, and the rest is up to them.
We can show sellers what comparable homes in their neighborhood are currently listed at … (3 comments)
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selling a home: We're Ready to List the House -- Now What Do We List It For?
- 09/24/10 07:42 AM
One of the many things I try to plant in my sellers' minds is the fact that this real estate market we're in is ever-changing. Every day is a new adventure. Every day I learn something new.
And although this has been the reality for some time now, it still can be difficult to really wrap your head around the way things are. Prices are low and inventory is high. Foreclosures and short sales are out there -- even in "your neighborhood."
No one is immune from this. No one.
What does that mean if you are ready to … (3 comments)
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selling a home: Let Me Google That...
- 09/18/10 06:57 AM
I saw a status update on Facebook yesterday from someone who said they might put the "For Sale" sign outside their house. They have no idea how to sell a house on their own, so maybe they'll GoogleTM it to find out. Someone replied that it's really not that bad; just make sure to have an attorney look over the offer before accepting it.
If only it were that easy.
I started thinking about what I do when I list a house:
Complete and analyze a market analysis. Meet with the seller to go over the market analysis. Determine a compelling … (14 comments)
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selling a home: If We Don't Have the Same Goal, Should We Really Be Working Together?
- 08/28/10 12:33 PM
One of the first questions I ask every seller is, "Why are you selling?"
We all know the reasons are many -- job change, downsizing, upsizing, divorce. And many times I've heard the seller slip in, "But I don't have to sell..."
My goal as the listing agent is to get the house sold in the shortest amount of time possible, getting the seller the greatest amount of money possible. So when I hear, "I don't have to sell" as any part of the response to the "why are you selling" question, I have to ask myself, "Does the seller really have … (3 comments)
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selling a home: Getting to That Point of Letting Go and Moving On
- 08/08/10 02:36 PM
I admit it. I have a hard time letting go. Personally. Professionally. I hate letting go. Makes me feel like I failed or am giving up.
So when one of my listings nears its "expiration date," I typically contact the sellers a couple weeks before and ask for the opportunity to continue working with them. That has how it has always been for me. Until now.
This world of real estate has changed considerably over the past several months -- it's been a whirlwind of different challenges. And I've learned that there is only so much I, as the listing agent, … (8 comments)
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selling a home: Facing the Challenge of Pricing Your Home in Today's Market
- 06/05/10 01:01 PM
Recently my broker, Shorewest Realtors(R), has invited Steve Harney to speak to us about current and expected market conditions. While some of what he has to say is difficult to hear, I think he's helping us to provide the information our buyers and sellers need to make the decisions that are best for them in these ever-changing times.
Following is a recent blog of Steve's that discusses what must be taken into consideration when pricing your home for sale.
WHAT IS IMPORTANT WHEN PRICING A HOME?
by Steve Harney on June 5, 2010
We have shown how even the experts are … (11 comments)
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selling a home: What You Pay in "Realtor Fees" Should Have No Bearing on Your List Price
- 04/18/10 04:30 AM
A few days ago I wrote a post, I Know It's Going to Hurt, But What You Want or Need from the Sale of Your Home Doesn't Matter, which discussed pricing your house based on current market conditions and comparable homes, not on what you want or need to walk away with.
It seems that a comment I'm hearing more and more these days, too, is a sort of disgust over the "realtor fees" that will be paid. I think I prefer to believe that most consumers simply don't know or understand how the commission is paid (i.e., only if we close) and what that … (8 comments)
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selling a home: How NOT to Price Your Home
- 11/28/09 11:36 AM
Excellent post. Clear. Concise. And to the point.
How not to price your home:
Take your mortgage balance. Add your credit cards. Throw in your cars. Add a generous portion of all the money you borrowed from relatives. Pile on your down payment for that other house you have your eye on. Last but not least, give yourself an extra 50 grand just for being you. Get a blank look on your face when you are told that the buying public doesn't care what you owe. Wait. Wait some more. Decide you'll stay after all. Here's a better plan: Find … (1 comments)
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selling a home: Maybe Those Home Shows Aren't Such a Bad Thing...
- 05/08/09 02:09 PM
I have to admit that there have been times when I've wanted to curse some of those home shows so many of us seem to be addicted to. Sometimes they have a way of making it look like selling a home is so easy. They can give the impression that a buyer makes a choice after seeing just three homes. And they have a way of convincing sellers to make every improvement they suggest, regardless of cost.
Sigh...if it were only that easy.
But over the past week, I met with two potential sellers who both said they know what … (6 comments)
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