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Five (5) Ways To Increase The Success of Your Marketing Efforts When Selling A Home

26/10/2011

..by Maria Morton

The ultimate GOAL of marketing any property is to get it SOLD, right? If you are only interested in getting your name up on the yard sign for the free advertising, just overprice the home and ignore the following suggestions.

1. Put the home on Centralized Showing Service (CSS).This makes it EASY TO SHOW any house to Qualified Buyers. Around 90% of homes sold will have an agent representing the Buyer. The Cooperating Agents need to be able to show the home. If the Buyers can’t see it, they won’t make an Offer To Purchase. Sure, I know that it costs more money annually to keep up your membership in CSS but this is the 21st Century; it’s how Real Estate has evolved. Even if you’re a part time agent, do this to maintain the appearance of professionalism.

2. PHOTOS ON MLS & other Websites.Yes, it takes time to take photos. It takes more time to upload them to MLS and all the other websites on which you advertise the property but it’s important to do so. Either spend the time to take the photos yourself or hire a professional photographer to take the photos for you. There are several companies that will take the photos/videos and upload them to your MLS for you. Remember that the #1 thing BUYERS LOOK FOR ON REAL ESTATE WEBSITES ARE PHOTOS.

3. Return Phone Calls in a Timely Manner.Are you kidding me? THREE DAYS to return my phone call? The first day, the Buyer is waiting anxiously. The second day, the Buyer is telling me how unprofessional you are and asking if the Seller knows what kind of agent they hired. (I’m trying to be diplomatic but you’re making yourself look bad.) The third day, the Buyer is telling me ‘Forget that house; the Sellers must not want to sell it or they would have hired someone else. Let’s look at that other home we liked.’

4. Upload Documents to MLS. The general public doesn’t see this part of our MLS but it’s where we can upload documents such as the Seller’s Disclosure, Agency Disclosure, LB Paint Disclosure Addendum and Franchise/Company Disclosures. When a Cooperating Agent writes an Offer To Purchase one of my listings, everything they need is right there. The Co-op Agents are going to need these documents when they write an Offer To Purchase so why not make it easy?

5. Stage The Home. If the property is listed for more than $200,000, it’s worth staging. Show the Seller the statistics for staged properties vs. un-staged properties. Show them how much faster staged homes sell and how much more money the Seller can put in their pocket. Sellers want the house sold NOW for as much as the market will bear. Refer them to a great stager. The cost of paying a stager per month is much less than the carrying costs incurred by the Seller every month the property sits there unsold. When you have a home listed for sale in a desirable neighborhood and all the other homes are staged, your Seller is at a disadvantage. The competition will sell and your poor Seller’s house will just sit there as an example of how much LESS the Buyers can get for the same price.

This post was originally published by Maria Morton at http:activerain.com/mariamorton in the KansasCityRealEstateWithMaria Blog.

Opportunity for Home Buyers or Investors in Brookside Area

23/10/2011

Opportunity for Home Buyers or Investors in Brookside Area.

Opportunity for Home Buyers or Investors in Brookside Area

23/10/2011

There are now 3 Duplexes for sale within easy walking distance of Price Chopper, St. Peter’s, the Brooksider, Charlie Hoopers’, Brookside Market, Avenue’s Bistro, The Roasterie, Bella Napoli, Brookside Toy & Science, Sharp’s, and all the other great Brookside businesses.

Each duplex is priced well under $250,000. Rents range between $700 and 1200 per month. (Small basic 2 bedroom vs. large, well finished 3 bedrooms.)

You could live in one side and rent the other side out or you could rent both sides out. Or, live in one side and keep the other side open for out of town company.

Home Prices in Brookside have not been this low in 20 years. Interest rates have never been this low. This is the opportunity you’ve been waiting for.

The Rule of 72

23/10/2011

The Rule of 72 refers to the length of time needed to double your money in investments. Here’s how it works:

If you are getting 6% interest on $10,000 in a Savings Account, it would take 12 years for your money to double. [72/6 = 12years]

If you are getting a 10% Return On Investment [ROI], it would take 7.5 years for your money to double. [72/10 = 7.2 round up to 7.5]

If you’re getting 2% interest on your money invested, it would take 36 years for your money to double. [72/2 = 36]

If you are getting a 24% interest on your money, it would take 3 years for your money to double. [72/24 = 3]

Where do you get a 2% ROI? In a bank account.

Where do you get a 10 – 30% ROI? In real estate.

Selling A House Is Like Making An Omelet

15/09/2011

Selling a house is more like making an omelet than just cracking an egg open. Oops! I dropped an egg and it cracked open!

egg

cracked egg


That’s the visual that pops into my mind when someone asks me if I sold a house today. It’s not a one-step event.

Selling a house is a series of events much like making an omelet. The pan has to be hot before the oil is added. The oil (or butter or bacon grease) must be hot – but not too hot – before the eggs are added. The vegetables, meats, herbs, and cheese go in at just the right time. Then you must wait to fold the omelet over when it’s ready; not too early and not too late.

Sure, we say the house is sold when all parties have signed the Real Estate Contract but that’s not the end of it. If the Buyers are financing part of the purchase price, we still have to wait on the appraisal. If the house appraises out, we have to wait on the final approval process.

Whether or not the Buyers are using a mortgage, we’re still going to have Inspections to get through. Depending upon what is found, we may have another round or two of negotiations. Anything can happen in that time period between the Contract being signed and Closing.

Yes, the house sold – almost – but, we don’t close for 31 days. The house is not sold until the transaction is completed at the Title Company. (Or attorney’s office, in some instances/states.)

The Earnest Money Deposit may be in the Escrow account but the bulk of the money does not change hands until Closing. The sale is not yet recorded. The transfer of Title/Deed does not occur until after the Closing documents are signed. Any ‘bill to closing’ charges from contractors and inspectors are paid after Closing. Lenders, Title Companies and Real Estate Brokers are paid after Closing. We can call the house sold for sure after Closing; not before.

A nicely browned omelet, cooked completely through without being overcooked, is a flavorful gastronomic delight to the taste buds and the stomach. So, too, is a well-executed and coordinated home sale.

Originally published at www.MariaMorton.com

How To Sell Your House – NOT!

13/08/2011

The buyers and I all had busy schedules. We found an hour when we could meet to see the house. I made the showing appointment the day before so the sellers had plenty of notice.

On this particular property, the sellers had elected NOT to use an iBox. They preferred to have someone let the buyers in. No problem!

Unfortunately, the seller’s representative did not show up at the appointed time. The cash buyers were not impressed. We discussed the situation on the sidewalk in front of the house for sale. We agreed that if the seller and his agent could not manage to show the property as arranged, the seller was not serious about selling and the agent was not one with whom we would want to engage in a real estate transaction.

We went back to my office, looked at some more properties online and scheduled another day next week to go out and look at homes for sale.

Originally published by Maria Morton in the Active Rain Real Estate Blog http://www.ActiveRain.com/blogs/MariaMorton

Just Like Getting Married!

31/07/2011

During Agent Tour last week, there was a home seller visiting one of the open houses on tour. Usually, only professional real estate agents are even aware of the tour that goes on every Tuesday in Kansas City but every now and then someone from the general public wanders in.

The woman was visiting one of the homes for sale just south of Brookside. She has her own house listed for sale with another agent and wanted to see how her own compared to this one.

It’s always interesting to hear about real estate from a non-professional perspective. Like most people, this woman had a general understanding of the real estate business but found the details to be somewhat mysterious.

When we asked her who she had her house listed with, she knew the brokerage but not the name of the agent. This is her third real estate agent. ^_^ That tidbit speaks volumes to us but leaves most of the general public perplexed.

She then went on to tell us that choosing a real estate agent is ‘very difficult – you wouldn’t believe how hard it is.’ Really? ‘Oh yes,’ she said ‘picking one of you is like getting married. You know there are a lot of you and how do I know which one to pick?’

‘And you know,’ she said ‘you have to do all these things to get the house ready. You have no idea how much time is involved when you’re trying to sell your house. They come in and want you to change all these things – it’s called staging, I think. My husband, when he was alive, let me put things wherever I wanted. They wanted me to move my books off the shelves.’

‘And another thing,’ she went on ‘there’s a lot of paperwork and details that you don’t know about – well I guess maybe you know about all that, but I didn’t. You know, I had to make all these choices and think about all these things before we could even put the sign up. It reminded me of when I was getting married and the priest made us think about all these things that could happen in a marriage.’

‘Or you know, after you’re married, and you and your husband have to decide things together – like where the children will go to school and what kind of couch we wanted- it’s like that with your real estate agent. Just like getting married.’ she said.

This is just a short synopsis of the conversation we had with this delightful home seller. I hope you enjoyed it as much as I did.