A Taste of Marketing...Mmmmmmm Good !

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

  A couple of years ago we were asked to give a listing presentation for a luxury lake property...we were one of three agents that presented to the Sellers who had a bottom line in mind for their lovely home. Our analysis iHome Value ?s not a CMA....(Comparative Marketing Analysis.) That method...though it is one that every...or at the very least...most...Realtors are taught never made very much sense to me ...and to us, makes less sense now.  

     It is the easiest and fastest way to do a home valuation. For consumers who may not know...An "MLS generated" Comparative Market Analysis is done by putting various features of your home into a computer program. These are "non subjective" aspects...number of bedrooms,bathrooms,garage spaces, year built, style, lot size, school district.  Agents may pick and choose the things they feel most describe your home and thencma choose a radius from your home to find comparable homes that have listed and sold within a specific time period.  Leaving out or putting in time periods can wildly sway the results.  

   Our methodology is different...it is lengthy and time consuming...and we believe, much more accurate.  It is part of what  sets us apart from other agents.  Taking the time to arrive at what we believe to be the most accurate price..pays HUGE dividends...most importantly to the Sellers.  An accurate price that the market accepts means an offer more quickly and higher than one that is above the market....and often these days can mean an over askng price war.  In a couple decades of our love affair with real estate...initially from landlords/ladies and flippers to licensed Broker Associates....we have only had five expired listings....Most of them being back in the day when short sales were not "popular" . That is a statistic of which we are most proud.

  Home valuation  We presented our home valuation to the luxury home owners...it did not meet their price expectations of list price...though we were given to understand that the other two agents did provide values in the Sellers desired price range. Mr. Seller was very much a "numbers" person and understood from our presentation how what they wanted was not what they would get. As a result...they opted not to list their home at that time.

     Fast forward....We of course...kept them on the Purple envelope snail mail newsletter list....and got an email...."...We would like you to do another valuation of our home ."  Yes, yes, yes...another visit to the house which had some improvements made to it since we had last been there and we needed the memory "refresher."  This time...their price expectation was different...AND our valuation was higher.  It's an honest...WIN ! WIN !  Not quite ready to hit the market..it will be at a mutually agreed upon price...in great condition and ready for new Buyers to call home. A taste of marketing that is paying dividends to all concerned...the best price for the Sellers and shiny new listing for the Hansons...honored to be Broker Associates serving southeastern Wisconsin.

 

 

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Rainmaker
1,795,828
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I don't know how often realtors do such a thing to compare houses, but that would seal the deal for me if I wanted to list my house.

Jul 05, 2018 03:59 AM #3
Rainmaker
2,966,393
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

We hope so Jay Markanich you have to do what the market says...and be able to show it statistically and ethically ....or at least that is what we believe.

Jul 05, 2018 04:02 AM #4
Rainer
462,506
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

I use the tried and true method of Comparative Market Analysis for years and most of the time find a range that we as Realtors can live with and sellers can understand the risk they take if they insist on trying a higher price

Jul 05, 2018 04:14 AM #5
Rainmaker
2,966,393
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Risk is exactly the word @Sham Reddy !

Jul 05, 2018 04:29 AM #6
Rainmaker
4,619,485
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Well done Sally and David.  I'll be looking forward to seeing the just listed post for this property.

Jul 05, 2018 04:37 AM #7
Rainmaker
3,631,671
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Sally K. & David L. Hanson,

A smart seller will see through the "higher than what can really expect to get" promise from some agents. Your seller recognized what really was possible and the agents who really knew the market!

Jul 05, 2018 05:06 AM #8
Rainmaker
2,926,582
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Sally. Sometimes personal knowledge of the market can give you an edge over a computer program that makes the difference. Enjoy your day 

Jul 05, 2018 05:53 AM #9
Rainmaker
4,948,799
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thanks for sharing some of your successful business practices.

Incorrect pricing can be a costly mistake for home sellers.

Jul 05, 2018 06:26 AM #10
Rainmaker
3,268,050
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sally and David. I think you are inspirational and focused. Great post.

Jul 05, 2018 07:44 AM #11
Ambassador
2,893,778
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I just love when a plan comes together. Congratulations on seeing this through Sally and David...

Jul 05, 2018 09:49 AM #12
Rainmaker
2,220,337
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am sure sellers realize how much work you put into getting an accurate valuation for their home and I am glad they did what was asked of them in order to get top dollar!

Jul 05, 2018 10:09 AM #13
Rainmaker
3,041,392
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Sally and David- - -regardless of what everyone or most do, finding what works/fits for you/us makes a big difference. 

Jul 05, 2018 10:37 AM #14
Rainmaker
2,993,244
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Leave it to the Hanson's, and success will follow...Nicely done you two!

Jul 05, 2018 03:11 PM #15
Ambassador
3,570,139
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

HI Sally and David- what it shows me is that experience and current knowledge go a long way in beating other methods of arriving at a market price. 

Jul 05, 2018 06:09 PM #16
Ambassador
3,776,321
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Sally and David

Great job on inspiring the sellers trust in you from your first evaluation, and staying in touch until the right moment came along for them to consider listing. Keep us posted!

Jeff

Jul 05, 2018 06:27 PM #17
Rainmaker
2,040,707
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Great example of honesty and patience paying off. Smart sellers too!

Jul 06, 2018 03:54 AM #18
Ambassador
1,681,190
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Well done, it doesn't always happen this way, but when it does - BRAVO. As for your ethics and honesty - that's how we can look in the mirror every day. D 

Jul 06, 2018 09:36 AM #19
Rainmaker
2,840,589
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Sally and David, That what I love about the two of you, doing things different that works so many times to get the listing.  

Jul 08, 2018 06:30 AM #20
Rainer
456,467
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Interesting that the sellers had made improvements and were expecting less than they originally wanted. Obviously something changed in their expectations and apparently the FMV of their location. Regardless, you made an impression and KIT to get another opportunity. Great job.

Jul 08, 2018 12:23 PM #21
Rainmaker
1,412,648
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Good job of keeping in touch.  I hope you now have that listing and it won't be long before it gets sold. 

Sep 03, 2018 04:11 PM #22
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Rainmaker
2,966,393

Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
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