Tuesday, April 28, 2009

STATISTICS - be curious

I know you are reading alot of statistics here and there and everywhere about what the market is like. Depending on the delivery the stats are useful, or not. Be aware when you see statistics that the market is "up" with pending sales (as recently reported), be curious as to how that data was collected. In my opinion it had more to do that the inventory of available new home inventory has decreased, causing buyers to buy re-sale homes that are in the MLS; often new home sales are not reported in the MLS. So, yes buyers are out there, but are there more buyers, or just less homes? When you see sales increasing in an area, don't think that this means, as a seller, that you should start holding out for a higher price than market value. Let's remember that Market Value is where you get an offer - so if you have had an appraisal 5 months ago that told you a price, that doesn't mean this is where it is going to sell. If you see home sales increasing in your area, race to be at the head of the pack. Reduce your price to the closest comparable, or lower - to make it attractive to the next wave of buyers. Be sure your photos are properly placed in the MLS and that your marketing is updated and fresh. In any case, be curious when you see statistics - as they can be construed in many different ways. For a free Market Snapshot, go to my site at and fill out the Market Snapshot form. After you review the graphs and stats, don't hesitate to contact me to help you interpret the data.

Tuesday, April 21, 2009

I'd love to network your property - BUT

You know how powerful the Network is, otherwise you wouldn't be on the Internet. The National Association of Realtors stated that over 80% of home buyers and sellers are on the Internet shopping for homes and finding out what is for sale.
It also stands to reason that my biggest source of eyes for your property is my Network that I have with my fellow brokers. The answer is Yes, but if only I could get to them!
My association that I belong to doesn't make available a down loadable updated list of email addresses for the membership for me to access. This prevents me from marketing your property to them in the form of announcements of open houses, broker open luncheons, special features and flyers that would make your property stand out in the crowd of over 5,000 listings.
Unfortunately there is no easily accessible method to send out an email to everyone even in my own company at Coldwell Banker Legacy - at least not yet. I am lobbying to have this available.
The common cry that I hear is 'but we don't care about a flyer for a property that is already in MLS" a member of the public, you should take a minute and have a Realtor show you how an MLS search is done, and how black/white and full of plain data our search results are. With some listings you will see lots of pictures, with some you will see none - but for some features that can 'catch an eye' like a great label in a Trader Joe's shelf, sometimes the best thing you can do is point is out to brokers individually in the form of a flyer or email statement.
Do I have on the road experience that this matters? Yes! More than once I have noticed a property flyer and it triggers in my head a certain buyer; more than once I have sent out a property flyer and had it be shown for a particular feature that I have pointed out in the feature list, and it sold.
My belief is that we are a pool of professionals, that while we are competitors, we are also depending on mutual cooperation to get the job done.
If this matters to you, take a minute and contact the association at GAAR and tell them that you think it would be useful for them to have an easy method for your broker to get the word out, and contact your broker and ask how they feel about getting property advertisements from other brokers. If they say they hate it, you might want to rethink your relationship, because if they don't want advertising from other brokers how well are they cooperating with the system?
I, for one, enjoy getting property advertisements. It gives me fresh ideas on how to promote your property, it keeps me that much more tuned "in" to what is going on in the market - and heck, it's just part of my job.
I love my job.

Tuesday, April 07, 2009

Gorgeous 40 acre estate


Yes, that's right! I work for free when your home is for sale and listed with me.
I get paid when your home sale closes.
Until then, I work for free; all the photos that I take, all of the virtual tours, the marketing, the open houses, the continuing education classes that I take during the time your home is on the market - I'm paying for that. All of my office expenses, my paid assistant, my gas bill and my car maintenance, I'm paying for that.
While your home is for sale I'm networking with other brokers about your property, going on Realtor tours and learning about the market. I'm maintaining my websites and making sure that all of your property photos and marketing materials are up to date. I'm paying for that.
During some markets, I work for free for a few weeks. During some markets I work for free for months, even years.
I don't charge consulting fees, but I'm always here for your questions and concerns. When you pick up that phone or send me an email I'm not keeping track of billable hours. I do, however, answer your questions promptly.
Every quarter my Board requests that I pay them to keep my license and membership up to date. Every year I am required to take education classes so that I can be a better broker. Every week my office has sales meetings to update us on current legal news in the real estate industry.
I work for free, for you my client, because I love what I do. I love the results.

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