RealtorIrene Blogs about Northwestern NJ Real Estate - Hunterdon & Warren

Are You Up for Selling Your OWN Real Estate?

As I’m sure you are aware, the real estate industry is experiencing one of its worst down markets in history—at least locally it is.  The last thing you want to do is pay commission to a real estate agent, right?  Not to mention the fact that you’re nearly positive you can sell your own home just fine without having had any experience in doing so—it’s EASY! 

 

Before sticking a “For Sale by Owner” sign up, however, you’ll need to make sure that you’re ready for the work and headaches entailed in doing so.

• Time.  Yes, you absolutely can sell your real estate on your own without the help of an agent but, it takes a lot of preparation and time.  How much is your time worth to you?  How much time do you have to spend preparing, pricing, marketing, procuring a buyer, showing and quite possibly even selling your home?  Before you set out on your own, make sure you can afford the time and energy investment requirements.
  

• Service and value.  Going it alone, you’ll lose out on a wide variety of services offered by Realtors®.  For example, many agents now provide home staging services as well as extensive advertising and marketing services both online and off.
  

• Exposure.  You also need exposure to buyers—real estate agents work together to help their sellers procure buyers for them.  Realtors® also belong to various organizations which allow sharing of listing information among other Realtors® and the public—your buyer.  As well, real estate marketing is our business—we do this full-time and we realize that 87%+ buyers find their homes online—on our sites.
  
  

• Legalities.  Selling a home involves contracts, closings and a multitude of legal issues that can make or break a real estate sale.  Real estate transactions have occasionally led to outcomes that were unexpected, including lawsuits.  A professional helps ensure that the contracts are legally sound, binding and carried out to the letter of the law.
  
  

• Market knowledge.  Realtors® have instant access to current market information. We are able to establish an accurate selling range within minutes after viewing your property.  Since the real estate market is in constant fluctuation, it’s important to have a complete knowledge of the market before pricing your own home.  Otherwise, your risk underselling or overpricing your home.  Public online sites’ estimates and comparable sales are NOT accurate and can cause you to make a costly mistake right out of the gate with your pricing.  
  
  

You will also need experience with legal contracts and excellent negotiating skills.  Recent NAR reports that only 2% of homeowners who market their home for sale are actually successful—and many times, the buyer is a family member or a friend. 

Unless  you have your finger on the pulse of the market,  chances are a costly mistake can and will be made.  

Can you sell your own real estate?  Absolutely—but, can you really afford to? 

 

If you’re trying to sell your Charlotte NC home and need the expertise of a professional, I can help. Call me at (704) 491-3310 or email me at Debe@DebeMaxwell.com for more information.

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What is it about Model homes that make them so appealing?  Is it the freshness of all new; is it the sassy paint colors, the perfectly placed furniture, art and accessories or the beautiful groomed backyard that makes you want to plop right down on that comfy club chair, or light the grill on the patio?  Well.... Yes to all the above.  A builder hold hosts to an array of skilled professionals to make that Model beautiful.  From blue print to drawer pulls that Model home is meticulously planned.

Beyond the nicely placed furniture, Model homes are the current reflection of the home environment needs of the target market of the Builder.  They are a turn-key product, designed & packaged for the desires of perfect buyer.

Models homes are lovely because they have the latest and the greatest, are fresh and new and are meticulously detailed.  Psychology, more than decorating is applied to makes them look so fabulous.  From architecture to floral arrangements, Model homes are planned with "YOU" in mind.  

So how can you the Realtor make your next listing as appealing as a Model Home? - Here are 10 ways.

•1.)    Clean.  Those nice angled vacuum lines, gleaming windows, and perfectly manicured lawns in Model homes speak to a potential buyer - You don't have to do a thing.   A Realtor can translate that into - A little elbow grease goes a long way.  A super clean home says "turn-key" to the potential buyer.  Have every inch of the home, blind slats to porch light glass, super clean and perfectly coiffed.  According to a national 2009 survey done by Home Gain (www.homegain.com,) a $100-$200 cleaning investment gives an 872% return!

•2.)    Fresh & Smells Good.  People buy homes on emotion, and your 5 senses are a direct path to your brain.  If a home smells and looks "funky," "doggy," "smoky," or if the stove is coated with  cooking gone bad - The home is off their list.  Just like you would detail your car to sell, invest in clean and spotless carpets, patched, repaired and freshly painted walls and new appliances if the old have seen better days.  Be wary to skip this step and take the low road with room refreshers, candles and stove burner covers - Potential buyers are not fooled.

•3.)    Color.  Any advertising executive will tell you color is key to properly packaging a product; and a listed home is just that, a product.  Throw away the off-white manta of old school home staging rules - Welcome to the era of HGTV. Using color is a powerful and inexpensive way of making that home stand out from the rest, and with so many decorating TV shows boasting the benefits of color, you better get hip to hues.   From 1^st Web impressions to curb-appeal, color is a strong emotional tug for the potential buyer.  Update yourself on the latest color trends in wall color, appliance, fixtures, etc... and apply it to your target buyer.  For home staging, use earthy, calm tones for the bigger areas such as wall color and add pops of saturated colors in the details; such front doors, accessories or annuals.

•4.)    Make Space.  The joy of a Model home is the acres and acres of unused storage space & beautifully organized closets.  Reduce, organize, upscale and edit all the home's spaces when it comes to closets and storage areas.  If the home's price point dictates, upscale the closets with custom organizing options.

•5.)    Clear a Path.  Consider that many people with be walking through the home.  Make sure traffic patterns, entrances and exits are well established.  Too much furniture, undefined entrances and awkward walkways confuse and discourage buyers from moving about the property.  Follow a Model Home's lead and create a concise walking pattern for potential buyers starting a curbside to back fence.  

•6.)    Lovely Layouts. From the landscape to furniture placement, take a clue from Models homes that continuity and flow make for a good mix.  Create curb appeal with nicely maintained landscaping, added annuals and perennials, an inviting stoop and well groomed walk and driveways.  Inside, make sure each room depicts what its function is, enhances the highlights of the room (i.e. fireplaces or upgrades,) and allows the buyer to envision themselves in the space.

•7.)    Set the Mood. Create ambiance and character in the home with well thought out placement of sensory and lifestyle components.  Soft music, lighting on dimmers, candles lit, and fresh floral are all great ideas for Broker or Open houses. If you have concern about candles, battery operated candles that even have timers built in are now readily available.   Stage the dining room table tastefully, or set the stage in a back yard with a detailed patio retreat.  Offering helpful lifestyle hints has always been in the Model Home arsenal and always a huge hit.

•8.)    K.I.S.S. On the opposite note, don't over accessorize, go over-board with the lifestyle tips or create "store bought theme" rooms (i.e. Chef-with-a-Hat Kitchen or Anniversary Bathtub area complete with Champagne bottle.)

•9.)    Appeal to a Target Buyer.  Consider "WHO" the ideal buyer is that will be interested in the property, and market the property accordingly.  From advertising photos to furniture, consider who will find this appealing and desirable. 

•10.) Market, Market, Market.  Model Homes have great marketing incentives inside and out.  From clear address markers, great signs, to small exit giveaways, to survey - market that listing to the fullest.  

 

Julea Joseph of Reinventing Space has created her own recipe for success with her signature Interior Stylist Philosophy.  Always a few steps ahead, Julea launched her home design business in 1999 when interior redesign & home staging were just in their infancy.  Rather than offering just redesign and staging, she developed a menu of blended services that fully embraces and captures the lifestyle of a home - She Celebrates the Soul of a Home. 

Supply and Demand is the fundamental foundation to any economy. If the supply is high, the demand is low. If the demand is high, the supply is low.  Economics 101 right? If you look at any real estate market in the country, there are homes flooding the market that have no chance of selling.

The Cure For The Real Estate Market

I believe the cure for our economy, or at least a huge push into the right direction, is in the hands of the people. The government doesn't seem to be on the right track in fixing the housing market. They are adding more and more regulations that are making it more and more difficult to finalize the real estate transaction.  

If the people, and I mean you, don't truly need to sell your home, take if off the market for a few years. 

What I mean is this:

In every real estate market in the country, there are homes that are truly priced to sell,  there are homes that the people are in financial disarray, and there are homes that are over priced that will never sell. 

The homes priced to sell belong in the market, they are dictating market value. The homeowners that are in financial trouble belong on the market, there isn't any other option.

The homes that are overpriced because the homeowner doesn't really need to sell, are the homes that are ruining the market. They are killing the demand, and elongating the recession. 

Imagine if, every home that is overpriced, or the seller thinks they should get more money then the market is going to give, were to take those homes of the market.

What would happen to your local real estate market? What would happen to the supply and demand? If you take half of the homes off the market we could super charge our way to recovery.

So, I'm asking you, the real estate agent, the unrealistic home owner, the home owner that can wait, do your country a solid, and take your home/listing off the market.

As a seller, you want the best price possible for your home. If you take your home off the market today, and wait a couple of years. You are going to take the ball out of the buyer's court, and return to the sellers market.

 

 

Here are some guidelines that should help you determine if you are killing the demand:

 

• If your home has been on the market for over 6 months, and you can't do anything about lowering your price. You have no offers, and you don't see any coming in. Take it off the market.
• If your home has been on the market two months with no showings, and you don't want to lower the price. Take it off the market. 
• If you have had multiple low offers, and it seems that no one is willing to give you what you will take for your home. I understand, you have a bottom line, but this market isn't going to produce it. Take it off the market. 
• You have your home on the market, because you are always in a selling mood. You don't really care if your home sells, but you would consider selling if you got the perfect offer. Take it off the market, you will get more money next year anyways. 
• If your too lazy to get your home in showing condition, or you just can't afford to make the needed repairs. Take your home off the market. 

I am a real estate agent, and telling people to take their homes off the market probably isn't the best business decision, but it's the right thing to do. We can't depend on the government to fix all of our problems, we need to put our best foot forward, and do our part where we can. 

If you can hold out, take your home off the market. 

What do you think? As a real estate agent, do you agree? Disagree? Why?

 

Lisa Udy

Immaculate Homes

Logan Utah Real Estate

Logan UT Homes

Lisa@LisaUdy.com

 

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Lisa Udy, Logan Utah Real Estate  Copyright © 2009

If you are considering buying or selling a home in Utah, you deserve local expertise and advice to be provided by a professional in real estate. Lisa Udy, is a Utah REALTOR® providing full time, professional real estate services to home buyers and sellers in the cities of Logan, Providence, North Logan, Hyde Park,  Smithfield,  Richmond,  Nibley, Lewiston, Cornish, Trenton, Amalga, Clarkston,  Newton, and all surrounding cities in the  Cache County Northern Utah area.

You may be relocating to or from Utah due to any number of reasons , whatever the case, when searching for a real estate professional outside the state of Utah, please feel free to Contact Me or call me at 435-881-3022 as I am more than honored to provide to you the contact information of exceptional agents across the U.S.

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Hey, ho kids!  Hope you're enjoying your waning hours of the weekend.

Unusually temperate here in Chicago for this time of year.  And we like "temperate," - we get so little of it!

Are you a Realtor long lamenting those "Good Old Days" when homes generated Offers to Purchase at practically any price - often with Multiple Bids?

Perhaps you are a consumer, trying to sell your home, waxing nostalgic over how your down-the-street neighbor sold his home in hours three years ago.  And now blaming your current Realtor for not doing the same, with your home, today?

Well, folks, are you ready for a revelation?  One that will change your life?  Your Real Estate Career?  Or the likelihood to sell your own home, and move on to the next stage of your life?  Here it is -

PRICE IT RIGHT, OR QUIT WASTING YOUR TIME!

Home Sellers:  Thinking about that new home you can pick up for 40% less than you could have gotten it for 3 years ago?  Kiss it goodbye, and prepare to stay put for at least the next couple of years or so!

Real Estate Professionals:  Got a stubborn client who will not lower his price, despite your advice and counsel?  FIRE THEM!  RIGHT AWAY!  WITHOUT REGRET!

Today, we are still over-buried in overpriced homes-for-sale inventory.  Every day I see Realtors, desiring to please their unreasonable listing clients, making $100 price changes to their clients home - just to make them happy. 

C'mon, gang!  Is the public - and the Real Estate Community - stupid?  Think they won't catch on to what you're doing?   Think again!

This week alone, we have written offers for three homes on behalf of our buyer clients at reasonable, comparables-based, "today" price levels, only to be rejected by overly-stubborn - or likely GREEDY sellers.  These folks "Don't want to give it away, you know!"

Well, home sellers - don't give it away! 

Cancel your listing!  Pull the curtains!  Lock the doors!  Turn up loud your brand-new HDTV.  Then, hunker down!  Because your high-price reality will come back - eventually . . . just not right now, or, in most professionals' opinions, in the near future.

The end result - less too-high-priced inventory.  A reduction in bloated supply!  And a trend toward balance in the Real Estate Market, here in Chicago, and everywhere.

Folks, don't placate!  Don't be greedy!  Don't accept stubbornness!  Get on board, or get off the boat!  You think?

In the famous words of actor Peter Finch in the 1976 movie, "Network" - fantasy 33 years ago, close to reality now -

"I'M MAD AS HELL, AND I'M NOT GOING TO TAKE IT ANYMORE!"

Will you reduce to reality, or continue to be part of the problem? 

Open the windows, and shout it out  "I'M MAD AS HELL . . . !" 

I CAN HEAR THEM IN CHICAGO!  But I can't hear you!

DEAN & DEAN'S TEAM CHICAGO