This Month in Real Estate...
Home Prices on the rise. Actually, on the sharp rise for sales of newly built homes. Recently the national housing reports the Standard and Poor and the Case-Shiller index was up 0.2% in December 2012 from November and 6.8% year over year. California cities posted strong increases. National home prices went up 7.3% so far this year, according to S&P/ Case-Shiller. The median price for newly built houses in January was $226,400. Also a report from the U.S. Commerce departments stated sales of newly built homes surged to nearly 16% in January. Historically low sales for new construction hit an all time low in 2011. Good news for new construction of homes. Another good sign of Recovery.
Thank you for Reading,
Gordon Inman
Thursday, February 28, 2013
Wednesday, February 27, 2013
Tips To Determining The Perfect List Price
If you are getting ready to put your home on the market, then you know how difficult it can be to determine just the right list price. If you list too high, it will sit. If you list too low, you lose money. So what can you do to determine that just right list price?
Here are a few ideas that can help you decide on the perfect list price.
1. The number one best way to determine a good and realistic list price is to ask your realtor to perform a survey of the other houses for sale in your area. What were the actual sales prices versus the list prices. What are the list prices of the homes that are sitting stagnant on the market etc.
2. What is the average number of days on the market for the homes for sale in your area. You are going to want to price your home relative to other comparable homes in your area in order to get a sale. Otherwise, your home may sit on the market and you will lose time and money in the long run.
3. Study the list prices versus the sale prices. This will show you what other sellers think their homes are worth versus what the buyers for your area are actually willing and able to pay. This could work in your favor if homes are selling for more than their listing price because this indicates that your market is a seller's market.
4. How much competition do you have. Don't just look up and down your street or subdivision. Look at nearby areas that buyers may also consider. Additionally, don't only think on terms of quantity, you must also consider the quality of those homes as well. If you live in a neighborhood that has many foreclosures, you may have some stiff competition when it comes to pricing. However, if your home is far superior and move in ready and you have set a reasonable listing price this could work in your favor.
5. Go to Open Houses in your area to gather information about their condition versus their listing price in comparison to yours and others in the neighborhood.
6. What is good about your neighborhood. Do you have a sought after school district or collage? Buyer demand should weigh heavily on how you price your home.
7. What time of year is it. In some parts of the country, you may be able to get more for your home in June than you would in October. Some people do not like to move during the school year. In addition, if you live where there is a lot of snow, then you will probably find it easier to sell your home during the time of year when there is no snow and it is easier to get around.
8. How motivated are you. If you need to sell your home quickly, then talk to your realtor about how to price your home to sell it more quickly. You want to sell it a little less than your competition, however, you don't want to give away the farm!
If your home has been on the market for a while, or you have had lots of showings but no offers, it's not too late to get it right.
Thanks for Reading,
The Inman Team
Here are a few ideas that can help you decide on the perfect list price.
1. The number one best way to determine a good and realistic list price is to ask your realtor to perform a survey of the other houses for sale in your area. What were the actual sales prices versus the list prices. What are the list prices of the homes that are sitting stagnant on the market etc.
2. What is the average number of days on the market for the homes for sale in your area. You are going to want to price your home relative to other comparable homes in your area in order to get a sale. Otherwise, your home may sit on the market and you will lose time and money in the long run.
3. Study the list prices versus the sale prices. This will show you what other sellers think their homes are worth versus what the buyers for your area are actually willing and able to pay. This could work in your favor if homes are selling for more than their listing price because this indicates that your market is a seller's market.
4. How much competition do you have. Don't just look up and down your street or subdivision. Look at nearby areas that buyers may also consider. Additionally, don't only think on terms of quantity, you must also consider the quality of those homes as well. If you live in a neighborhood that has many foreclosures, you may have some stiff competition when it comes to pricing. However, if your home is far superior and move in ready and you have set a reasonable listing price this could work in your favor.
5. Go to Open Houses in your area to gather information about their condition versus their listing price in comparison to yours and others in the neighborhood.
6. What is good about your neighborhood. Do you have a sought after school district or collage? Buyer demand should weigh heavily on how you price your home.
7. What time of year is it. In some parts of the country, you may be able to get more for your home in June than you would in October. Some people do not like to move during the school year. In addition, if you live where there is a lot of snow, then you will probably find it easier to sell your home during the time of year when there is no snow and it is easier to get around.
8. How motivated are you. If you need to sell your home quickly, then talk to your realtor about how to price your home to sell it more quickly. You want to sell it a little less than your competition, however, you don't want to give away the farm!
If your home has been on the market for a while, or you have had lots of showings but no offers, it's not too late to get it right.
Thanks for Reading,
The Inman Team
Tuesday, February 26, 2013
Questions You Should Ask Yourself Before Deciding On An Offer Price
One of the most difficult things about buying a home is deciding on an offer price. Your Realtor will be able to assist you with this, but you should think about how much you are ready and willing to offer before you get to that point. Most buyers today have so much information readily available to them that they are well prepared to make an educated office price.
Here are a few things you can ask yourself to help you decide on a fair offer price.
1. Stay calm and do not let the seller pressure you.
2. Check the recent market comparables for that area and look for what similar homes have sold for and why. How long did they take to sell. Ask your realtor to look beyond the comparables to find anything else that would better enable you to present and justify your offer.
3. How long has the house been on the market and why.
4. What is the condition of the home in comparison to others you have looked at in that area. If it is a fixer upper it may not qualify for certain financing.
5. What upgrades have or have not been done to the home. This will tell you what money you will or won't have to spend later.
6. Look over the home disclosure very carefully for anything you may have missed initially.
7. How many other people are looking at the home and are there any other serious contenders. If there is competition for the home, you may want to consider offering the asking price or more just to secure the bid. Ask your agent to find out if there is any competition for that home and how serious the buyers are.
8. How badly do you want this home. If you have been looking for a suitable home for a while and have not found what you are looking for until now, don't waste too much time trying to barter over a what will amount to a few dollars in the long run. You don't want to risk losing the home to another buyer who slightly outbids you.
9. Set a max price offer ahead of time and stick to it.
10. Decide what you can comfortably afford. Allow for life events such as repairs and maintenance and potentially losing your job etc.
Here are a few things you can ask yourself to help you decide on a fair offer price.
1. Stay calm and do not let the seller pressure you.
2. Check the recent market comparables for that area and look for what similar homes have sold for and why. How long did they take to sell. Ask your realtor to look beyond the comparables to find anything else that would better enable you to present and justify your offer.
3. How long has the house been on the market and why.
4. What is the condition of the home in comparison to others you have looked at in that area. If it is a fixer upper it may not qualify for certain financing.
5. What upgrades have or have not been done to the home. This will tell you what money you will or won't have to spend later.
6. Look over the home disclosure very carefully for anything you may have missed initially.
7. How many other people are looking at the home and are there any other serious contenders. If there is competition for the home, you may want to consider offering the asking price or more just to secure the bid. Ask your agent to find out if there is any competition for that home and how serious the buyers are.
8. How badly do you want this home. If you have been looking for a suitable home for a while and have not found what you are looking for until now, don't waste too much time trying to barter over a what will amount to a few dollars in the long run. You don't want to risk losing the home to another buyer who slightly outbids you.
9. Set a max price offer ahead of time and stick to it.
10. Decide what you can comfortably afford. Allow for life events such as repairs and maintenance and potentially losing your job etc.
Monday, February 25, 2013
5 Risks of Real Estate
There are always risks that come with large purchases. You should not be fearful to buy Real Estate, but you should educate yourself on what kind of situations you may face and how you can prevent or deal with them.
1. Foreclosure. The risk of a foreclosure has recently become one of the biggest concerns for anyone considering home ownership. In an effort to avoid a foreclosure, you should work closely with your realtor to make smart mortgage choices, buy at a price you can afford, don't use your home equity to finance frivolous things, make sure you have enough savings to carry you through a rough time and buy your home in a desirable neighborhood etc.
2. Spending more than you can really afford. Make a budget then stick to it. Especially when you are looking for a new home. Whatever you do, do not borrow more than you can realistically afford to pay back. You need to think ahead on this one - are you planning on having children or more children? Plan ahead about what you will do if you lose your job, repairs and maintenance for your home etc. You will need to make sure that you are not spending all of your income on your mortgage, not leaving enough money to put into savings for a bad day. Most mortgage companies have strict guidelines. So overextending yourself is less and less of a concern these days with the exception of unforeseen life events occurring.
3. Overpaying. Most people, after making an offer on a home, worry and wonder if they could have gotten a better deal. Would the seller have taken less? As long as you have been working closely with your realtor and done your homework with the area market comparables, then you probably have gotten the best deal possible. Most buyers are not going to accept lowball offers. There are always exceptions to this but your realtor more than likely knows when you can and can't push it any further and will advise you of this before you sign the contract.
4. Buying a money pit. Almost everyone is a bit nervous when it comes to buying a home. However, that is what inspections are for. So don't skip the home inspection process and you will have a lot less to worry about. You may also want to consider purchasing or asking the seller to provide you with a home warranty.
5. Losing your escrow deposit. You do have a period of time laid forth in the contract, that you can back out of the contract for any reason. However, you will lose your escrow deposit if you try to back out of the deal after that. At that point, the buyer has the right to keep your escrow deposit.
It is very important that you work closely with your Realtor throughout the buying process. This will help to lessen any potential risks you might encounter when buying a home and they can help you make smart decisions.
Thanks for Reading,
The Inman Team
1. Foreclosure. The risk of a foreclosure has recently become one of the biggest concerns for anyone considering home ownership. In an effort to avoid a foreclosure, you should work closely with your realtor to make smart mortgage choices, buy at a price you can afford, don't use your home equity to finance frivolous things, make sure you have enough savings to carry you through a rough time and buy your home in a desirable neighborhood etc.
2. Spending more than you can really afford. Make a budget then stick to it. Especially when you are looking for a new home. Whatever you do, do not borrow more than you can realistically afford to pay back. You need to think ahead on this one - are you planning on having children or more children? Plan ahead about what you will do if you lose your job, repairs and maintenance for your home etc. You will need to make sure that you are not spending all of your income on your mortgage, not leaving enough money to put into savings for a bad day. Most mortgage companies have strict guidelines. So overextending yourself is less and less of a concern these days with the exception of unforeseen life events occurring.
3. Overpaying. Most people, after making an offer on a home, worry and wonder if they could have gotten a better deal. Would the seller have taken less? As long as you have been working closely with your realtor and done your homework with the area market comparables, then you probably have gotten the best deal possible. Most buyers are not going to accept lowball offers. There are always exceptions to this but your realtor more than likely knows when you can and can't push it any further and will advise you of this before you sign the contract.
4. Buying a money pit. Almost everyone is a bit nervous when it comes to buying a home. However, that is what inspections are for. So don't skip the home inspection process and you will have a lot less to worry about. You may also want to consider purchasing or asking the seller to provide you with a home warranty.
5. Losing your escrow deposit. You do have a period of time laid forth in the contract, that you can back out of the contract for any reason. However, you will lose your escrow deposit if you try to back out of the deal after that. At that point, the buyer has the right to keep your escrow deposit.
It is very important that you work closely with your Realtor throughout the buying process. This will help to lessen any potential risks you might encounter when buying a home and they can help you make smart decisions.
Thanks for Reading,
The Inman Team
About KW and Our Team
About Keller Williams Realty, Inc.:
Founded in 1983, Keller Williams Realty, Inc. is the second-largest real estate franchise operation in the United States, with 675 offices and almost 77,000 associates across the globe. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale, visit Keller Williams Realty online at (www.kw.com). Information about Keller Williams Realty’s international expansion can be found at (www.kwworldwide.com).
About Our Team:
Gordon Inman
DRE# 00446156
O: 310-707-2133
Gordon Inman is the Broker/Owner of Keller Williams L.A. Harbor and Partner of Keller Williams Palos Verdes. He has been an expert realtor in the South Bay area for over 35 years. He obtained his Real Estate license in 1974. Born and raised in the Palos Verdes, San Pedro, and South Bay area. Gordon and his wife, Nancy moved to Rolling Hills in 1987. He has become an expert in the Rolling Hills area and has served on the Rolling Hills Architectural Committee for 15 years. His vast knowledge of Rolling Hills is often called upon by sellers and buyers and has made him one of the top agents in the area.
Gordon has formed a sales partnership with Keith Kelley. Gordon's wife Nancy is the transaction coordinator. The Inman Team has achieved platinum awards from Keller Williams International and was recognized as the 3rd highest producing Team in the California Region. Our Team is also a member of the Keller Williams Luxury Divison.
Keith Kelley
DRE# 01810798
O: 310-707-2124
C: 310-944-5554
keith.a.kelley@gmail.com
Keith Kelley was born and raised in Southern California. After attending UCSB on a baseball scholarship, he moved to Seattle, WA where began his career in the mortgage industry as a loan officer. After living in Washington for 3 years while his wife attended Law School, Keith and his wife moved back to California where Keith became the in house lender for Keller Williams Realty in Rancho Palos Verdes. After 8 months of being the premier Loan Officer for both Keller Williams Realty offices in Palos Verdes, he joined Gordon Inman as a Realtor to grow The Inman Team. After joining the team in November of 2007, the team was awarded the Platinum Medal for production in his very first year, 2008. At the end of 2008 Keith was asked to become a member of The Agent Leadership Council whose job was to run the office and make decisions regarding the growth and stability of the office. In 2009, The Inman Team sold over $30,000,000 in homes, in which over $20,000,000 was in Rolling Hills alone, and was awarded the Platinum Medal for the second consecutive year for production. The Inman Team was also recognized as the 3rd highest producing team in the Southern California Region for all Keller Williams Offices. Keith added a technology aspect to the business which allowed the team to utilize technologies available to market properties to the fullest. In 2010 Keith contributed to the growth of the team in order to service more areas and be able to offer more home owners the unique experience and customer service that the team offers. Innovative marketing and sales techniques lead to the team receiving the Platinum Medal for production for the 3rd consecutive year as well as the second consecutive year as the 3rd highest producing team in the Southern California Region for all Keller Williams Offices. In his first 5 years of Real Estate he has been part of over $100,000,000 in sales.
Keith Kelley’s focus for the future is to expand our area of expertise by adding knowledgeable members to The Inman Team that have the same work ethic and knowledge we have. Another goal is to offer the unique marketing techniques and excellent communication and customer service to more buyers and sellers in more cities in the South Bay and Greater Los Angeles Area. Keith Kelley keeps himself up to date with new technologies and new marketing ideas to help clients get the most out of their home buying or selling experiences. He has studied the local market and knows values, neighborhoods and communities to help serve all clients to the fullest. The Inman Teams clients range for large business owners, attorneys, doctors, engineers, dentists, firemen, police officers, financial advisors and all other professions. Keith Kelley sells homes that range from $150,000 starter homes to $6,000,000 luxury homes or investment properties. Another area of this market that Keith has educated himself is short sales and distressed sales. He has become Pre-foreclosure Certified and has completed many transactions helping home owners out of difficult situations.
Founded in 1983, Keller Williams Realty, Inc. is the second-largest real estate franchise operation in the United States, with 675 offices and almost 77,000 associates across the globe. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale, visit Keller Williams Realty online at (www.kw.com). Information about Keller Williams Realty’s international expansion can be found at (www.kwworldwide.com).
About Our Team:
Gordon Inman
DRE# 00446156
O: 310-707-2133
Gordon Inman is the Broker/Owner of Keller Williams L.A. Harbor and Partner of Keller Williams Palos Verdes. He has been an expert realtor in the South Bay area for over 35 years. He obtained his Real Estate license in 1974. Born and raised in the Palos Verdes, San Pedro, and South Bay area. Gordon and his wife, Nancy moved to Rolling Hills in 1987. He has become an expert in the Rolling Hills area and has served on the Rolling Hills Architectural Committee for 15 years. His vast knowledge of Rolling Hills is often called upon by sellers and buyers and has made him one of the top agents in the area.
Gordon has formed a sales partnership with Keith Kelley. Gordon's wife Nancy is the transaction coordinator. The Inman Team has achieved platinum awards from Keller Williams International and was recognized as the 3rd highest producing Team in the California Region. Our Team is also a member of the Keller Williams Luxury Divison.
Keith Kelley
DRE# 01810798
O: 310-707-2124
C: 310-944-5554
keith.a.kelley@gmail.com
Keith Kelley was born and raised in Southern California. After attending UCSB on a baseball scholarship, he moved to Seattle, WA where began his career in the mortgage industry as a loan officer. After living in Washington for 3 years while his wife attended Law School, Keith and his wife moved back to California where Keith became the in house lender for Keller Williams Realty in Rancho Palos Verdes. After 8 months of being the premier Loan Officer for both Keller Williams Realty offices in Palos Verdes, he joined Gordon Inman as a Realtor to grow The Inman Team. After joining the team in November of 2007, the team was awarded the Platinum Medal for production in his very first year, 2008. At the end of 2008 Keith was asked to become a member of The Agent Leadership Council whose job was to run the office and make decisions regarding the growth and stability of the office. In 2009, The Inman Team sold over $30,000,000 in homes, in which over $20,000,000 was in Rolling Hills alone, and was awarded the Platinum Medal for the second consecutive year for production. The Inman Team was also recognized as the 3rd highest producing team in the Southern California Region for all Keller Williams Offices. Keith added a technology aspect to the business which allowed the team to utilize technologies available to market properties to the fullest. In 2010 Keith contributed to the growth of the team in order to service more areas and be able to offer more home owners the unique experience and customer service that the team offers. Innovative marketing and sales techniques lead to the team receiving the Platinum Medal for production for the 3rd consecutive year as well as the second consecutive year as the 3rd highest producing team in the Southern California Region for all Keller Williams Offices. In his first 5 years of Real Estate he has been part of over $100,000,000 in sales.
Keith Kelley’s focus for the future is to expand our area of expertise by adding knowledgeable members to The Inman Team that have the same work ethic and knowledge we have. Another goal is to offer the unique marketing techniques and excellent communication and customer service to more buyers and sellers in more cities in the South Bay and Greater Los Angeles Area. Keith Kelley keeps himself up to date with new technologies and new marketing ideas to help clients get the most out of their home buying or selling experiences. He has studied the local market and knows values, neighborhoods and communities to help serve all clients to the fullest. The Inman Teams clients range for large business owners, attorneys, doctors, engineers, dentists, firemen, police officers, financial advisors and all other professions. Keith Kelley sells homes that range from $150,000 starter homes to $6,000,000 luxury homes or investment properties. Another area of this market that Keith has educated himself is short sales and distressed sales. He has become Pre-foreclosure Certified and has completed many transactions helping home owners out of difficult situations.
Sunday, February 24, 2013
Quick and Easy Decorating Tips
Here are a few quick and easy decorating ideas we recommend for anyone to use to transform your home.
1. Declutter and beautify your bookshelves. Go through everything on your shelves. Sort everything and organize it. Remove anything that does not enhance the look and add things that do. An organized space can go a long way to making things look clean and orderly.
2. Tile your kitchen backsplash. By installing some ceramic tiles to your kitchens backsplash is an inexpensive alternative to a kitchen remodel. This will give your kitchen a fresh updated look without the expense. This will take both weekend days to complete though. Because you have to allow for drying time.
3. Give your fireplace a makeover. Since you only use your fireplace a few months out of the year, you can use the rest of the year to use your fireplace as a focal point for the room. Just clean it out, then add some low maintenance plants that don't require a lot of sunlight. Another great touch is actually painting the fireplace for a clean fresh look.
5. Add some crown molding. Crown molding will make a room look bigger than it actually is and is not that difficult to install. For the best results, use specially made corner pieces that will take away the need to cut a perfectly fitted mitered edge. Another nice touch is to install some chair railing or add some new, more modern baseboards while you're at it.
6. Update your picture frames. You probably have many pictures on your walls that have accumulated over the years and no two are alike. So why don't you take them all down and paint them all the same color so that they all look like they belong together. This is also a good way to add color to the room.
7. Replace your kitchen cabinet and drawer hardware. Your local hardware store has a wide variety of hardware to choose from. Unlike years ago when you were limited to gold and brushed nickel.For a bigger change, resurface your cabinets or DIY
8. Change your lamp shades. This is a great way to give your room a whole new look without having to buy all new lamps. If you prefer, you can add some fabric, beads or ribbons to your old lamp shades to give them a new look.
9. Pick a bedroom. Then add some paint, new curtains and a new comforter etc. Now you have a complete makeover for a very small price.
10. Add some new flooring. This can be easily done by adding some new area rugs or runners to the room. Or you might prefer some new vinyl flooring for your kitchen or bathroom. Vinyl flooring is a very inexpensive way to update your kitchen or bathroom.
1. Declutter and beautify your bookshelves. Go through everything on your shelves. Sort everything and organize it. Remove anything that does not enhance the look and add things that do. An organized space can go a long way to making things look clean and orderly.
2. Tile your kitchen backsplash. By installing some ceramic tiles to your kitchens backsplash is an inexpensive alternative to a kitchen remodel. This will give your kitchen a fresh updated look without the expense. This will take both weekend days to complete though. Because you have to allow for drying time.
3. Give your fireplace a makeover. Since you only use your fireplace a few months out of the year, you can use the rest of the year to use your fireplace as a focal point for the room. Just clean it out, then add some low maintenance plants that don't require a lot of sunlight. Another great touch is actually painting the fireplace for a clean fresh look.
5. Add some crown molding. Crown molding will make a room look bigger than it actually is and is not that difficult to install. For the best results, use specially made corner pieces that will take away the need to cut a perfectly fitted mitered edge. Another nice touch is to install some chair railing or add some new, more modern baseboards while you're at it.
6. Update your picture frames. You probably have many pictures on your walls that have accumulated over the years and no two are alike. So why don't you take them all down and paint them all the same color so that they all look like they belong together. This is also a good way to add color to the room.
7. Replace your kitchen cabinet and drawer hardware. Your local hardware store has a wide variety of hardware to choose from. Unlike years ago when you were limited to gold and brushed nickel.For a bigger change, resurface your cabinets or DIY
8. Change your lamp shades. This is a great way to give your room a whole new look without having to buy all new lamps. If you prefer, you can add some fabric, beads or ribbons to your old lamp shades to give them a new look.
9. Pick a bedroom. Then add some paint, new curtains and a new comforter etc. Now you have a complete makeover for a very small price.
10. Add some new flooring. This can be easily done by adding some new area rugs or runners to the room. Or you might prefer some new vinyl flooring for your kitchen or bathroom. Vinyl flooring is a very inexpensive way to update your kitchen or bathroom.
Saturday, February 23, 2013
Several Great Ways To Get Your Home Ready For A Quick Spring Sale
When a Buyer is searching for a home, some of those finishing touches will make a huge difference. Does your home have a fresh new coat of paint, are all the fixtures up to date? Little things like that can add major bonus points in your buyers eyes, especially if they've been searching and looking at multiple homes in the same price range. They are looking for the house where they can get the most out of their money. The home that has some extra care and pride will stand out from the rest who didn't.
Here are a few things you can do to give your home those few extra touches that could make the difference between a sale or no sale.
1. Add a fresh coat of paint. Especially the trim and the moldings. Scuffs, marks and scratches on white trim really stand out. This is the easiest and least expensive thing you can do that will make the most impact.
2. Spruce up your front entry area. Paint your front door, install a new kick plate, a new door knocker, exterior hardware, new house numbers. Look around - how do the eves and shutters look etc.
3. Look at the area around your cabinets and drawers. Are they dirty, are there scuff marks? These areas are often overlooked by homeowners but you can bet a buyer will notice - guaranteed! Additionally, do your cabinet doors and drawers open and close properly, do they squeak, do they glide smoothly? These are just a few more things that a buyer is going to add to their list to devaluate your home.
4. When is the last time you thought about your HVAC system? Now is a good time to change the filter, clean the vent grills and make sure that there are no funny noises coming from your system that could be misconstrued as a serious problem.
5. How are your window screens? If your screens have holes in them, then have them rescreened.
6. What about your fence. Is it in visibly good condition? Make sure that there are no loose pickets and that the gate opens and closes easily and is not falling off the hinges .
7. Clean, clean, clean. Everything must be cleaned inside and out and from top to bottom. Look at places that you normally take for granted like under the sink, the garage, the drawers etc. The cleanliness of your home makes a bigger difference than you know.
8. Declutter. Pack up or get rid of anything and everything you are not using. This will make your home look and feel bigger and better to potential buyers.
9. Buy a new front entry mat. This makes a great first impression. The first thing a buyer sees will be your nice new entry mat and that will set the tone for the rest of the tour.
10. Put out some fresh flowers in as many areas as possible. This will add some color and a fresh clean ambiance to your home.
There are many things you can do to spruce up your home for a Spring sale and to help attract asking price offers.
The Inman Team
Your Expert Realtors of the South Bay
Here are a few things you can do to give your home those few extra touches that could make the difference between a sale or no sale.
1. Add a fresh coat of paint. Especially the trim and the moldings. Scuffs, marks and scratches on white trim really stand out. This is the easiest and least expensive thing you can do that will make the most impact.
2. Spruce up your front entry area. Paint your front door, install a new kick plate, a new door knocker, exterior hardware, new house numbers. Look around - how do the eves and shutters look etc.
3. Look at the area around your cabinets and drawers. Are they dirty, are there scuff marks? These areas are often overlooked by homeowners but you can bet a buyer will notice - guaranteed! Additionally, do your cabinet doors and drawers open and close properly, do they squeak, do they glide smoothly? These are just a few more things that a buyer is going to add to their list to devaluate your home.
4. When is the last time you thought about your HVAC system? Now is a good time to change the filter, clean the vent grills and make sure that there are no funny noises coming from your system that could be misconstrued as a serious problem.
5. How are your window screens? If your screens have holes in them, then have them rescreened.
6. What about your fence. Is it in visibly good condition? Make sure that there are no loose pickets and that the gate opens and closes easily and is not falling off the hinges .
7. Clean, clean, clean. Everything must be cleaned inside and out and from top to bottom. Look at places that you normally take for granted like under the sink, the garage, the drawers etc. The cleanliness of your home makes a bigger difference than you know.
8. Declutter. Pack up or get rid of anything and everything you are not using. This will make your home look and feel bigger and better to potential buyers.
9. Buy a new front entry mat. This makes a great first impression. The first thing a buyer sees will be your nice new entry mat and that will set the tone for the rest of the tour.
10. Put out some fresh flowers in as many areas as possible. This will add some color and a fresh clean ambiance to your home.
There are many things you can do to spruce up your home for a Spring sale and to help attract asking price offers.
The Inman Team
Your Expert Realtors of the South Bay
Friday, February 22, 2013
New Listing Coming Soon!
Check out the gorgeous views from our NEW Rolling Hills listing coming soon!
4 Bedroom 4 Bath, with barn, riding ring, tennis court pool & views all on 8,000 sq. ft. in Rolling Hills.
4 Bedroom 4 Bath, with barn, riding ring, tennis court pool & views all on 8,000 sq. ft. in Rolling Hills.
Thursday, February 21, 2013
Strategies For Generating Multiple Offers
In Today's market getting multiple offers has been more difficult, but with an expert Realtor with an expert plan it can be done.
Here are a few tips and tricks our team uses to get multiple offers on our clients homes.
1. List low - auction style. Most sellers do the opposite. They list their homes at a higher price thinking they might just get that price. But ultimately they do more harm than good. If you list your home at a lower price point, you will bring in more buyers and more showings which in turn can create multiple offers. Each one trying to outbid the other knowing that you have multiple offers to choose from. This is a great way to get your preferred asking price for your home. Now we are not suggesting that you give away the farm but just to price your home slightly less than your competition to get that initial interest from many potential buyers at one time, creating a demand for your home. If you are selling your home take a look at your comparables, try to match your price just slightly under your competition.
2. Be very flexible when it comes to showing your home. If a buyer has several homes they want to look at and most of them are vacant or foreclosures and yours requires a 24 hour notice etc. you risk losing that buyer to another home that they looked at before yours. All because your home was not available for showing due to a 24 hour notice requirement. So loosen up your showing requirements and be ready to show your house on a moment's notice.
3. Make sure your home is immaculate inside and out. That includes your basement, garage, crawl spaces etc. Everything! For our luxury homes, we like to stage the house. It allows for the buyers to see everything your home has to offer.
4. You must make a good presentation. Fresh paint, new carpet if it needs it. Check all small maintenance items such as doors, windows, stoves, faucets, the hvac system. Your home needs to be in move in ready condition. You must stand out above all of the other homes your buyer has looked at.
5. Revisions are good. If you initially overpriced your home and it has already been on the market for a while and you think you cannot implement some of these ideas well then think again.
It's not too late to lower the price of your home below your competitors prices. You may then find that you have generated multiple offers. Now, due to the demand, you have gotten your original asking price. Because each offer is trying to outbid the other because they don't want to lose the deal.
Their are so many ways to encourage getting multiple offers, always communicate with your Realtor about what your willing and not willing to do, from staging to a fresh coat of paint even the slightest change can make a HUGE differences.
Thank you for Reading,
The Inman Team
Gordon Inman & Keith Kelley
Your Expert Realtors of the South Bay
Here are a few tips and tricks our team uses to get multiple offers on our clients homes.
1. List low - auction style. Most sellers do the opposite. They list their homes at a higher price thinking they might just get that price. But ultimately they do more harm than good. If you list your home at a lower price point, you will bring in more buyers and more showings which in turn can create multiple offers. Each one trying to outbid the other knowing that you have multiple offers to choose from. This is a great way to get your preferred asking price for your home. Now we are not suggesting that you give away the farm but just to price your home slightly less than your competition to get that initial interest from many potential buyers at one time, creating a demand for your home. If you are selling your home take a look at your comparables, try to match your price just slightly under your competition.
2. Be very flexible when it comes to showing your home. If a buyer has several homes they want to look at and most of them are vacant or foreclosures and yours requires a 24 hour notice etc. you risk losing that buyer to another home that they looked at before yours. All because your home was not available for showing due to a 24 hour notice requirement. So loosen up your showing requirements and be ready to show your house on a moment's notice.
3. Make sure your home is immaculate inside and out. That includes your basement, garage, crawl spaces etc. Everything! For our luxury homes, we like to stage the house. It allows for the buyers to see everything your home has to offer.
4. You must make a good presentation. Fresh paint, new carpet if it needs it. Check all small maintenance items such as doors, windows, stoves, faucets, the hvac system. Your home needs to be in move in ready condition. You must stand out above all of the other homes your buyer has looked at.
5. Revisions are good. If you initially overpriced your home and it has already been on the market for a while and you think you cannot implement some of these ideas well then think again.
It's not too late to lower the price of your home below your competitors prices. You may then find that you have generated multiple offers. Now, due to the demand, you have gotten your original asking price. Because each offer is trying to outbid the other because they don't want to lose the deal.
Their are so many ways to encourage getting multiple offers, always communicate with your Realtor about what your willing and not willing to do, from staging to a fresh coat of paint even the slightest change can make a HUGE differences.
Thank you for Reading,
The Inman Team
Gordon Inman & Keith Kelley
Your Expert Realtors of the South Bay
Wednesday, February 20, 2013
Wall Street Journal guide to homeowners insurance
http://homes.yahoo.com/news/wall-street-journal-guide-to-homeowners-insurance-203200630.html
Homeowners insurance protects your home, its contents, and, indirectly, your other assets in the event of fires, theft, accidents or other disasters.
A standard homeowners policy (known as an HO-3 policy) will protect you from things like fires and fallen trees. Notice how we didn't mention floods or earthquakes—those events are specifically not covered by a standard policy and require additional coverage. Homeowners in some areas of the country may be required by their mortgage company to carry these kinds of policies.
A standard policy will also protect your possessions from said disasters as well as theft. But a standard policy is not a blank check: There's a limit to how much you'll be compensated. If you have specific items of value, such as jewelry or artwork, you can pay a little extra each year to insure them for their full replacement value.
Now, if someone is on your property and slips and falls and sprains his ankle, he might sue you for his medical expenses. Homeowners insurance covers your liabilities in this situation as well. And like the examples mentioned above, you can pay more for extra coverage. Homeowners insurance isn't required by law, like auto insurance. But mortgage companies usually require you to obtain a policy before they'll give you a loan.
How Much Coverage Do You Need?
Your home insurance policy should cover enough to entirely rebuild and furnish your home were it wiped off the map. Ask a home builder to walk through your home and give you an estimate of what it would take to rebuild; that figure should be the basis for how much replacement coverage you'll need. Be sure to point out any unique and/or expensive details that would add to the replacement cost.
Once you've determined the replacement cost of your home, you'll need to know what kind of coverage you want. There are a few key terms here:
Guaranteed Replacement Cost Coverage. This means that the insurer will pay for the rebuilding of your home no matter the cost. These policies are hard to find these days.
Extended Replacement Coverage Many insurers offer coverage that caps the payout at around 125% of your home's insured value.
Inflation Guarantee (or Guard). This feature makes sure that your home's insured value stays current with the marketplace.
If you get a reliable appraisal, extended replacement coverage and an inflation guarantee, you should be in good shape. The appraisal provides a realistic starting figure and the inflation guarantee makes sure that your home's price stays current. The 125% coverage means that, even if construction prices outpace inflation, they probably didn't outpace it by 25%, so you should have enough money for whatever work you need done.
One last thing: The law requires you to have flood insurance if you live in an officially recognized high-risk area. To find out your flood risk and to find plans (which are offered by the government), go to floodsmart.gov.
When it comes to protecting your possessions, you may want more coverage than your standard policy allows. If you have anything of exceptional value (a family heirloom, a piece of art, jewelry, etc.), you should insure it separately. Insurers will charge extra for this coverage (something like an extra $10 on your monthly premium per $1,000 of value insured), but it pays to be covered.
[Is it time to update your home insurance? Click to compare quotes now.]
Also keep in mind that there are two different kinds of coverage when it comes to personal articles. There's "actual cash value" and there's "replacement cost." You want coverage for replacement cost. "Actual cash value" is what you'd get if you sold your valuable today — a lower amount than what you initially paid. "Replacement cost" pays you the amount of money you'd need to buy a brand-new item to replace your old one.
Liability Coverage
Say a guest stays at your home and slips on the floor and sprains his ankle. He decides to sue you. Your homeowners policy includes liability coverage in case you lose the court case. Generally speaking, standard policies offer $100,000 to $300,000 of liability coverage.
Supplemental liability coverage can boost your protection to $1 million or more. If you don't own a car, adding that kind of coverage can be relatively cheap—less than $100 per year—and isn't a bad idea. If you do own a car (putting you at greater risk for causing damage to people and property), expect to pay $300 to $400 a year. Check out your auto policy to see what kind of coverage you already have.
Shopping for a Homeowners Policy
There are three kinds of home insurance companies and salespeople:
Direct sellers, who sell directly to consumers (GEICO, Progressive and USAA fall into this category).
Captive agents, who only sell one company's insurance products (for example, State Farm and Allstate agents).
Independent insurance agents, who sell policies from many different companies.
It's possible that all of these groups will deny your insurance application for anything from the risky pool of alligators in your backyard or the tornado that runs through your property every year. Don't despair. Many states have state-sponsored insurance programs for the hard-to-insure. Search for your state's FAIR (Fair Access to Insurance Requirements) plan if you're having a tough time with the traditional insurers.
Your Deductible
Like auto or health insurance, your homeowners insurance has a deductible (the amount you must pay before coverage kicks in). Like those other policies, you should opt for the highest deductible you can afford. If you do, the cost of your insurance premium (the monthly bill you pay) will surely be lower. Plus, a low deductible forces your insurer to cover more of your costs — costs they pass on to you in the form of increased premiums.
Remember: You should not use insurance to cover every conceivable expense, just the big ones. If reinstalling a gutter will cost you $200, pay the $200 — don't start filing claims for it. Insurers hate it when you file too many claims, and may raise your monthly premium or even cancel coverage because they'll view you as too risky. It's not about gutters—you want the insurance when you have to pay for a whole new roof.
A good rule of thumb to follow: If you can fix anything for less than $1,000, don't file a claim.
Homeowners insurance protects your home, its contents, and, indirectly, your other assets in the event of fires, theft, accidents or other disasters.
A standard homeowners policy (known as an HO-3 policy) will protect you from things like fires and fallen trees. Notice how we didn't mention floods or earthquakes—those events are specifically not covered by a standard policy and require additional coverage. Homeowners in some areas of the country may be required by their mortgage company to carry these kinds of policies.
A standard policy will also protect your possessions from said disasters as well as theft. But a standard policy is not a blank check: There's a limit to how much you'll be compensated. If you have specific items of value, such as jewelry or artwork, you can pay a little extra each year to insure them for their full replacement value.
Now, if someone is on your property and slips and falls and sprains his ankle, he might sue you for his medical expenses. Homeowners insurance covers your liabilities in this situation as well. And like the examples mentioned above, you can pay more for extra coverage. Homeowners insurance isn't required by law, like auto insurance. But mortgage companies usually require you to obtain a policy before they'll give you a loan.
How Much Coverage Do You Need?
Your home insurance policy should cover enough to entirely rebuild and furnish your home were it wiped off the map. Ask a home builder to walk through your home and give you an estimate of what it would take to rebuild; that figure should be the basis for how much replacement coverage you'll need. Be sure to point out any unique and/or expensive details that would add to the replacement cost.
Once you've determined the replacement cost of your home, you'll need to know what kind of coverage you want. There are a few key terms here:
Guaranteed Replacement Cost Coverage. This means that the insurer will pay for the rebuilding of your home no matter the cost. These policies are hard to find these days.
Extended Replacement Coverage Many insurers offer coverage that caps the payout at around 125% of your home's insured value.
Inflation Guarantee (or Guard). This feature makes sure that your home's insured value stays current with the marketplace.
If you get a reliable appraisal, extended replacement coverage and an inflation guarantee, you should be in good shape. The appraisal provides a realistic starting figure and the inflation guarantee makes sure that your home's price stays current. The 125% coverage means that, even if construction prices outpace inflation, they probably didn't outpace it by 25%, so you should have enough money for whatever work you need done.
One last thing: The law requires you to have flood insurance if you live in an officially recognized high-risk area. To find out your flood risk and to find plans (which are offered by the government), go to floodsmart.gov.
When it comes to protecting your possessions, you may want more coverage than your standard policy allows. If you have anything of exceptional value (a family heirloom, a piece of art, jewelry, etc.), you should insure it separately. Insurers will charge extra for this coverage (something like an extra $10 on your monthly premium per $1,000 of value insured), but it pays to be covered.
[Is it time to update your home insurance? Click to compare quotes now.]
Also keep in mind that there are two different kinds of coverage when it comes to personal articles. There's "actual cash value" and there's "replacement cost." You want coverage for replacement cost. "Actual cash value" is what you'd get if you sold your valuable today — a lower amount than what you initially paid. "Replacement cost" pays you the amount of money you'd need to buy a brand-new item to replace your old one.
Liability Coverage
Say a guest stays at your home and slips on the floor and sprains his ankle. He decides to sue you. Your homeowners policy includes liability coverage in case you lose the court case. Generally speaking, standard policies offer $100,000 to $300,000 of liability coverage.
Supplemental liability coverage can boost your protection to $1 million or more. If you don't own a car, adding that kind of coverage can be relatively cheap—less than $100 per year—and isn't a bad idea. If you do own a car (putting you at greater risk for causing damage to people and property), expect to pay $300 to $400 a year. Check out your auto policy to see what kind of coverage you already have.
Shopping for a Homeowners Policy
There are three kinds of home insurance companies and salespeople:
Direct sellers, who sell directly to consumers (GEICO, Progressive and USAA fall into this category).
Captive agents, who only sell one company's insurance products (for example, State Farm and Allstate agents).
Independent insurance agents, who sell policies from many different companies.
It's possible that all of these groups will deny your insurance application for anything from the risky pool of alligators in your backyard or the tornado that runs through your property every year. Don't despair. Many states have state-sponsored insurance programs for the hard-to-insure. Search for your state's FAIR (Fair Access to Insurance Requirements) plan if you're having a tough time with the traditional insurers.
Your Deductible
Like auto or health insurance, your homeowners insurance has a deductible (the amount you must pay before coverage kicks in). Like those other policies, you should opt for the highest deductible you can afford. If you do, the cost of your insurance premium (the monthly bill you pay) will surely be lower. Plus, a low deductible forces your insurer to cover more of your costs — costs they pass on to you in the form of increased premiums.
Remember: You should not use insurance to cover every conceivable expense, just the big ones. If reinstalling a gutter will cost you $200, pay the $200 — don't start filing claims for it. Insurers hate it when you file too many claims, and may raise your monthly premium or even cancel coverage because they'll view you as too risky. It's not about gutters—you want the insurance when you have to pay for a whole new roof.
A good rule of thumb to follow: If you can fix anything for less than $1,000, don't file a claim.
Tuesday, February 19, 2013
Investors fuel Southland housing gains as foreclosures plummet
Update:
Keller Williams Realty reported this week that they are the #1 real estate company by agent count in the U.S. and KW Market Centres accross North America Profit Shared $55 million in 2012 - an increase of 44% from the previous year.
In Other News...
Investors fuel Southland housing gains as foreclosures plummet
LA Times
http://www.latimes.com/business/money/la-fi-mo-southland-housing-20130213,0,5286697.story?track=rss
The Southland’s housing market kicked off the new year with a sharp annual gain in home sales last month — the highest volume for a January in six years — as investors and cash buyers proliferated.
The region’s median home price notched a sharp 23.5% gain from the same month a year earlier, a reflection of both rising prices and a shift in the buying mix from lower-end starter homes to pricier digs. Buyers paid a median $321,000 last month, real estate firm DataQuick reported Wednesday.
The Southern Californial rebound came as foreclosure starts statewide took a massive 77.7% tumble over the same period, according to a separate report.
“This fledgling housing recovery has momentum,” DataQuick President John Walsh said in a news release. “Already, price hikes have caused some to question whether it's sustainable, whether it's a 'bubble.' Let's not forget, though, that we're still climbing out of a deep hole from the housing downturn.”
Nevertheless, the fact that the housing market is being fueled by low mortgage interest rates and investor interest is cause for concern, Walsh noted. Healthier engines for housing growth such as employment gains and consumer confidence are playing less a factor.
On Tuesday, the real estate website ForeclosureRadar.com reported a 60.5% decline in the number of default notices issued in California in January compared with December. The number of default notices — the first formal step in the state’s foreclosure process — that were issued fell 77.7% from January 2012. A total of 4,500 such filings were logged last month, the lowest number since at least September 2006, when the website’s records begin.
The website gave no explanation for the sharp decrease in notices of default, but noted that the drop coincided with a package of tough new laws that provide homeowners with some of the nation's strongest protections from bank repossession practices taking effect in January.
The falling supply of repossessed homes on the market should continue to put a floor on prices and boost the number of regular sales. That should help lift more borrowers out of negative equity positions, helping them to sell out of problematic loans and burdensome homes.
Last month a total of 16,058 new and previously owned houses and condominiums sold in the Southern California region, made up of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. That was a 20.8% drop from December, though such a decline is normal for the season, according to DataQuick. Indeed, the sales tally in the Southland last month was the highest month for a January since 2007.
Sales of homes in the region’s move-up market have continued to gain. Sales of homes priced between $300,000 and $800,000 soared 49.6% year-over-year in January while sales of homes costing more than $500,000 jumped 74.0% from the same month a year earlier.
Sales of homes in more affordable neighborhoods declined, an indication of tight inventory levels in those markets as investors look to snap up houses and rent them out. Sales of homes that cost less than $200,000 fell 23.5% year-over-year.
Foreclosed homes made up just 15% of the resale market last month, down dramatically from the worst of the crash when they hit a high of 56.7% of the market in February 2009. Short sales made up an estimated 25.9% of the resale market last month.
Investors and cash buyers were once again a prominent part of the market. Absentee buyers bought a record 30.7% of all homes sold last month while buyers paying cash snapped up 34.9% of all sales.
Thank you for Reading,
The Inman Team
Keller Williams Realty reported this week that they are the #1 real estate company by agent count in the U.S. and KW Market Centres accross North America Profit Shared $55 million in 2012 - an increase of 44% from the previous year.
In Other News...
Investors fuel Southland housing gains as foreclosures plummet
LA Times
http://www.latimes.com/business/money/la-fi-mo-southland-housing-20130213,0,5286697.story?track=rss
The Southland’s housing market kicked off the new year with a sharp annual gain in home sales last month — the highest volume for a January in six years — as investors and cash buyers proliferated.
The region’s median home price notched a sharp 23.5% gain from the same month a year earlier, a reflection of both rising prices and a shift in the buying mix from lower-end starter homes to pricier digs. Buyers paid a median $321,000 last month, real estate firm DataQuick reported Wednesday.
The Southern Californial rebound came as foreclosure starts statewide took a massive 77.7% tumble over the same period, according to a separate report.
“This fledgling housing recovery has momentum,” DataQuick President John Walsh said in a news release. “Already, price hikes have caused some to question whether it's sustainable, whether it's a 'bubble.' Let's not forget, though, that we're still climbing out of a deep hole from the housing downturn.”
Nevertheless, the fact that the housing market is being fueled by low mortgage interest rates and investor interest is cause for concern, Walsh noted. Healthier engines for housing growth such as employment gains and consumer confidence are playing less a factor.
On Tuesday, the real estate website ForeclosureRadar.com reported a 60.5% decline in the number of default notices issued in California in January compared with December. The number of default notices — the first formal step in the state’s foreclosure process — that were issued fell 77.7% from January 2012. A total of 4,500 such filings were logged last month, the lowest number since at least September 2006, when the website’s records begin.
The website gave no explanation for the sharp decrease in notices of default, but noted that the drop coincided with a package of tough new laws that provide homeowners with some of the nation's strongest protections from bank repossession practices taking effect in January.
The falling supply of repossessed homes on the market should continue to put a floor on prices and boost the number of regular sales. That should help lift more borrowers out of negative equity positions, helping them to sell out of problematic loans and burdensome homes.
Last month a total of 16,058 new and previously owned houses and condominiums sold in the Southern California region, made up of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties. That was a 20.8% drop from December, though such a decline is normal for the season, according to DataQuick. Indeed, the sales tally in the Southland last month was the highest month for a January since 2007.
Sales of homes in the region’s move-up market have continued to gain. Sales of homes priced between $300,000 and $800,000 soared 49.6% year-over-year in January while sales of homes costing more than $500,000 jumped 74.0% from the same month a year earlier.
Sales of homes in more affordable neighborhoods declined, an indication of tight inventory levels in those markets as investors look to snap up houses and rent them out. Sales of homes that cost less than $200,000 fell 23.5% year-over-year.
Foreclosed homes made up just 15% of the resale market last month, down dramatically from the worst of the crash when they hit a high of 56.7% of the market in February 2009. Short sales made up an estimated 25.9% of the resale market last month.
Investors and cash buyers were once again a prominent part of the market. Absentee buyers bought a record 30.7% of all homes sold last month while buyers paying cash snapped up 34.9% of all sales.
Thank you for Reading,
The Inman Team
Monday, February 18, 2013
Stage It, Sell It, Profit
Stage It, Sell It, Profit!
Turn on any popular home network on cable TV and you’ll find a program on staging.
Re-arrange your furniture, pick a soothing color palette, clear out the family photos, and your home will sell faster, and for more money. Sound too frou-frou to be true?
It’s not! The soft and decorative side of staging is backed by hard facts.
Real estate agents like great-looking homes because they are easier to sell. Why is that important?
An agent’s job is to please their clients, and they will direct their buyers to the homes they think they will buy.
Agents talk to other agents who are also directing their buyers to the best homes on the market. An attractive listing will be shown more often, meaning more market exposure—critical for a quick and profitable house sale.
Staging is non-negotiable in many parts of the country. Staging a listing for sale in an area where the concept hasn’t caught on can give you an advantage, particularly if there are many unsold listings similar to yours on the market. Buyers gravitate to listings that look good and are in move-in condition.
Buyers are looking for value. When prices are flat or on the decline, buyers need to perceive that the house is worth the price.
Bottom line: staging is more than an exercise in tasteful interior design. It is a business decision that can have a huge impact on your financial return and timeline.
Thanks for Reading
Update
Keller Williams Ranked "Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms"
Inman Team News
This Week our Team is attending the Keller Williams Family Reunion 2013. From the 17th-20th we will be in Dallas, Texas. Family Reunion is our industry's most powerful training event, where thousands of the top associates gather for a week to
network, re-energize, and take our business to the next level.
Inman Team News
This Week our Team is attending the Keller Williams Family Reunion 2013. From the 17th-20th we will be in Dallas, Texas. Family Reunion is our industry's most powerful training event, where thousands of the top associates gather for a week to
network, re-energize, and take our business to the next level.
Friday, February 15, 2013
Keller Williams is Named One of America's Top Workplaces
Press Release - Keller Williams Realty, Inc. Named One of America's Top Workplaces
view this link to read the full Press Release.
Keller Williams Realty, Inc. is named #9 of America's Top Work Places, making it the only national real estate franchising company on the National Top 150 Workplaces list.
About Keller Williams Realty, Inc.:
Keller Williams Realty Inc. is one of the largest real estate franchise companies, with approximately 700 offices and 80,000 associates around the world. The company has grown exponentially since the opening of the first Keller Williams Realty office in 1983, and continues to cultivate an agent-centric, education-based, technology-driven culture that shares profits with associates. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).
The Inman Team has been in the business for over 35 years. We have worked, lived, and prospered in the South Bay.
Thank you for Reading,
The Inman Team
view this link to read the full Press Release.
Keller Williams Realty, Inc. is named #9 of America's Top Work Places, making it the only national real estate franchising company on the National Top 150 Workplaces list.
About Keller Williams Realty, Inc.:
Keller Williams Realty Inc. is one of the largest real estate franchise companies, with approximately 700 offices and 80,000 associates around the world. The company has grown exponentially since the opening of the first Keller Williams Realty office in 1983, and continues to cultivate an agent-centric, education-based, technology-driven culture that shares profits with associates. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).
The Inman Team has been in the business for over 35 years. We have worked, lived, and prospered in the South Bay.
Thank you for Reading,
The Inman Team
Thursday, February 14, 2013
The Inman Team E-mail Newsletter
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Click the link above to Subscribe to Our Monthly E-mail Newsletter Updates: On Just Listed, Just Sold, Upcoming Listings, and other News in all things Real Estate in the South Bay.
Your Trusted Realtors of The South Bay
The Inman Team
Wednesday, February 13, 2013
New Listing
2120 Ronsard, Rancho Palos Verdes Ca 90275
$699,000
Rancho Palos Verdes
New listing hard to find 5 bed 3 bath home on a prime street in East Rancho Palos Verdes. Approximetly 2,726 sq. ft. Ready for updating, but priced right. Red tile roof.
For more Information
Contact The Inman Team
TheInmanTeam@gmail.com
$699,000
Rancho Palos Verdes
New listing hard to find 5 bed 3 bath home on a prime street in East Rancho Palos Verdes. Approximetly 2,726 sq. ft. Ready for updating, but priced right. Red tile roof.
For more Information
Contact The Inman Team
TheInmanTeam@gmail.com
Tuesday, February 12, 2013
How To Submit A Fair Offer Price
Have you found a home that you would like to make an offer on? But are not sure how much you should offer without offending the seller and still get the best deal you can possibly get? This question is one that puzzles most everyone that has ever bought a home. So let's talk about what consists of a "fair offer price".
You already know the seller's asking price so that is the easy part. But how do you go about figuring out what to offer? Here are a few steps you can take to determine a fair offer price.
1. Look at what recent homes have sold for in your area. Don't look at what they listed their home for but what they actually sold for.
2. Remember as you are looking at this data to also look at the condition of the homes, the improvements that were made to those homes, the current conditions of the market and the reasons for the sale of those homes. For example, was the seller desperate for the sale etc. as this can play a major role in the sales price and can skew the numbers if you are not careful.
3. Check the current competition in the area. Are the comparable homes close to the one you are looking at, is the home comparable in square footage, the number of bedrooms and bathrooms. Is the garage the same size. Is the property lot the same size. Also, look at the type of home it is - is it the same type of construction. If it is a tract home with many other exact same homes in that area, you will be better able to compare it against an exact match for the most part.
It is really important at this point in the home buying process that you sit down with your realtor and go over all of this information. Your realtor knows the market inside and out and can advise you on how to put together a fair offer price. You really don't want to do this without the help of a licensed professional. Your realtor has access to resources that you don't to help determine what should be factored into a good offer. Remember, if you get this step wrong it could cost you thousands of dollars over the life of the loan. So talk to your realtor today.
Thank you for Reading.
The Inman Team
You already know the seller's asking price so that is the easy part. But how do you go about figuring out what to offer? Here are a few steps you can take to determine a fair offer price.
1. Look at what recent homes have sold for in your area. Don't look at what they listed their home for but what they actually sold for.
2. Remember as you are looking at this data to also look at the condition of the homes, the improvements that were made to those homes, the current conditions of the market and the reasons for the sale of those homes. For example, was the seller desperate for the sale etc. as this can play a major role in the sales price and can skew the numbers if you are not careful.
3. Check the current competition in the area. Are the comparable homes close to the one you are looking at, is the home comparable in square footage, the number of bedrooms and bathrooms. Is the garage the same size. Is the property lot the same size. Also, look at the type of home it is - is it the same type of construction. If it is a tract home with many other exact same homes in that area, you will be better able to compare it against an exact match for the most part.
It is really important at this point in the home buying process that you sit down with your realtor and go over all of this information. Your realtor knows the market inside and out and can advise you on how to put together a fair offer price. You really don't want to do this without the help of a licensed professional. Your realtor has access to resources that you don't to help determine what should be factored into a good offer. Remember, if you get this step wrong it could cost you thousands of dollars over the life of the loan. So talk to your realtor today.
Thank you for Reading.
The Inman Team
Monday, February 11, 2013
How to have the fastest closing ever
By Bill Briggs of SwitchYard Media
Here are 10 bits of advice, plucked from the minds of mortgage professionals, that could chop a month or even two off of that epic slog from finding your dream home to signing the closing papers.
1. Select a multipurpose real-estate agent
A capable agent will manage the complex escrow process actively and properly. Start with hiring someone whose ability to follow through has been proved.
"Just as you want to ask for referrals from those you know and trust for a doctor or dentist, the same is true of all involved in the process of purchasing and financing a home," says Jim Sahnger, a loan originator with FBC Mortgage in Jupiter, Fla. "There are a lot of opportunities for things to get off track. Having the best team on it is critical to a smooth process for you."
Time saved: A dedicated real-estate agent can slice days or weeks off a closing, experts say. But if your lender is backed up with other pending closings, even the best agent in town can't bump you to the head of the line.
2. View closing documents 24 hours before closing
By coordinating the closing schedule, you can set your expectations early and build in a bit of private time to spend alone with your loan papers.
Sign the upfront bank paperwork immediately and send in requested documents as quickly as possible. You also should ask your lender how long the entire process may take, says Jason Auerbach, divisional manager of First Choice Bank, a New York City-based mortgage lender.
Auerbach says the actual mortgage part of the closing could take less than 20 minutes. It's the other steps that stretch the calendar.
One document to view in advance is the HUD-1 settlement statement, which allows everyone involved in the deal to review all required costs and fees, Sahnger says. You can scan that statement with your real-estate agent or your closing agent to ensure that nothing pops up at the last minute, he says.
Time saved: A couple of hours, perhaps. Getting answers to your final questions can prevent unnecessary chatter and long-winded explanations during the closing itself.
3. Bring a certified check
You should not come to the closing carrying a check that you just ripped from your personal checkbook. In fact, be sure to ask your escrow company if it prefers that your payment come via a wire transfer or a cashier's check.
Sahnger is even more specific on that detail: "Today, the only way to go is a wire transfer from your bank to the closing agent. This minimizes the risk of any issues. And in some cases, this may be the only option available."
Time saved: As much as two weeks, or the number of days the escrow company takes to cash and then certify your funds.
4. Keep the appraisal process running smoothly
Appraisals are a crucial step in buying a home. The appraiser's determination of the value of the property dictates how much your bank will lend to you. You may be pre-approved for a $400,000 mortgage, but if the appraiser says the house is worth only $350,000, your bank is not going to hand over more.
To ensure the appraisal process is fast and efficient, work with the seller so that the appraiser can access the house in a timely fashion, and that means every nook. If an appraisal comes in lower than the sale price, you can always negotiate with the seller on repairs or updates that will add value.
"If the appraiser is not accommodating, contact your lender," Auerbach says. "Most banks use appraisal-management companies, and these companies will have more than one option for appraisers."
That rule doesn't apply to Department of Veterans Affairs loans; in those cases, the VA chooses the appraiser, and the bank has no recourse.
Time saved: If you stall the appraiser, you could add several days or weeks to the closing process. An appraisal can take as long as two weeks, depending on the complexity of the property and the issues involved in determining its value, Sahnger says. To keep that task at two weeks or less, you should ask your real-estate agent to give you a list of comparable properties that the appraiser may find useful.
5. Specify repair provisions in the contract
Time should be allotted for inspections that let buyers determine if they want to purchase the home "as is," Sahnger says. Buyers should specify the time frame for completing repairs after an inspection.
"Buyers can also include provisions that allow for the seller to repair any issues that are determined within specified dollar limits -- say, a percentage of the sale price or (an) exact amount," he says. "This way, if an inspection determines that there may be unexpected repairs needed to the property, the buyer can either get it covered or choose to negotiate something different in the contract."
Time saved: Minimal, Sahnger says. But inspections and negotiations over items to be fixed can add days or weeks to the closing process if they pop up late.
6. Hire a reputable escrow company
Escrow is essentially a trusted, third-party account through which money for the home purchase is received, held and disbursed. Selection of an escrow company is the key, as is maintaining an open line of communication with your escrow contact. Experts suggest checking in at least twice a week in writing, to create a paper trail. Your calls can help move the process along.
"The fastest that you can get (an escrow) commitment might be half a day to a day," Huettner says. "The typical time would be two to five days. But it depends on how busy people are at the company.
"When you call, I would ask them: 'How long is it currently taking to get things done?' Sometimes, they'll make an exception depending on your needs. They'll tell you they're backed up or that they're working really quickly right now." When in doubt, he says, call two or three companies for estimates.
Time saved: About five days, if you find a solid escrow company that can handle your business.
7. Line up your insurance early
On the same day that your escrow is opened, you should buy a homeowners insurance policy, plus any other necessary coverage, such as a flood policy. Make sure your escrow officers get your insurance broker's phone number immediately.
The policy will not take effect until closing, "so you are not paying for coverage just because you obtained the policy in advance," says Peter Grabel, a loan originator at Luxury Mortgage Corp. in Stamford, Conn. "You might need to revise the policy if the coverage is deemed to be insufficient or if the documentation is not worded properly. A closing cannot be scheduled until coverage is confirmed."
8. Build a pre-closing paperwork folder
Ask your mortgage broker to give you a list of all financial documents that you will need to collect for the closing. Begin pulling together that paperwork right away, checking off each record as you add it to your pre-closing folder, experts say.
The usual stack includes all pages of your bank statements and copies of all your pay stubs. Turn over every scrap of financial paperwork that you think reveals something about your monetary health. It all will turn up eventually anyway as the lender combs through your mortgage application.
"Don't try to save paper," Grabel says. "If a bank statement is numbered 1 to 24 pages, [the bank] will need all 24 pages, even the one that says 'intentionally left blank.' If any item is missing, the entire file will have to go back into the loan's underwriter."
Time saved: Five business days, if you can avoid having your loan file returned to the underwriter, Grabel says.
9. Respond promptly to requests for more information
This often is the point in the process -- after you've seemingly answered every extraneous question and turned over every shred of your financial information -- where you may become the most frustrated.
Don't worry: The end should be near. Don't let your exasperation over any last-minute plea for more records stall your process. But, yes, that question typically means the closing will take longer.
"Even if a missing item seems insignificant, it will require the file to go back into the queue for an underwriter to review," Grabel says. "If the request is vague, speak to your loan officer to make sure you understand exactly what is being requested."
Time saved: It's up to you. Huettner says he has had clients wait two to three weeks to turn over those last-needed documents -- delaying the closing for that same amount of time. "Just drop everything and get that done," Huettner says. "Lenders don't typically assume you're going to take two weeks to get something back to them. They assume you're going to do it in a day or two."
10. Verify your past 2 years' employment history
Some mortgage experts contend that to get your mortgage to the closing table in the fastest way possible, you should supply five years' worth of work-history documentation. Huettner calls that overkill and says that two years' worth is adequate to get your loan approved in a timely way.
"Of course, if you were laid off for six months during that time, make sure add another six months of employment records [before the layoff]," he says.
You should never embellish your work history or your wages. The lies will come out and simply lengthen the process -- or worse, cause the loan to be denied, experts say. If life events such as a divorce or a major illness have put a recent crimp in your savings, you should be ready to explain those.
Time saved: About a week, which is the time you'll lose if the underwriter sees that hole in your documentation and flags your file for later review.
http://realestate.msn.com/how-to-have-the-fastest-closing-ever
Here are 10 bits of advice, plucked from the minds of mortgage professionals, that could chop a month or even two off of that epic slog from finding your dream home to signing the closing papers.
1. Select a multipurpose real-estate agent
A capable agent will manage the complex escrow process actively and properly. Start with hiring someone whose ability to follow through has been proved.
"Just as you want to ask for referrals from those you know and trust for a doctor or dentist, the same is true of all involved in the process of purchasing and financing a home," says Jim Sahnger, a loan originator with FBC Mortgage in Jupiter, Fla. "There are a lot of opportunities for things to get off track. Having the best team on it is critical to a smooth process for you."
Time saved: A dedicated real-estate agent can slice days or weeks off a closing, experts say. But if your lender is backed up with other pending closings, even the best agent in town can't bump you to the head of the line.
2. View closing documents 24 hours before closing
By coordinating the closing schedule, you can set your expectations early and build in a bit of private time to spend alone with your loan papers.
Sign the upfront bank paperwork immediately and send in requested documents as quickly as possible. You also should ask your lender how long the entire process may take, says Jason Auerbach, divisional manager of First Choice Bank, a New York City-based mortgage lender.
Auerbach says the actual mortgage part of the closing could take less than 20 minutes. It's the other steps that stretch the calendar.
One document to view in advance is the HUD-1 settlement statement, which allows everyone involved in the deal to review all required costs and fees, Sahnger says. You can scan that statement with your real-estate agent or your closing agent to ensure that nothing pops up at the last minute, he says.
Time saved: A couple of hours, perhaps. Getting answers to your final questions can prevent unnecessary chatter and long-winded explanations during the closing itself.
3. Bring a certified check
You should not come to the closing carrying a check that you just ripped from your personal checkbook. In fact, be sure to ask your escrow company if it prefers that your payment come via a wire transfer or a cashier's check.
Sahnger is even more specific on that detail: "Today, the only way to go is a wire transfer from your bank to the closing agent. This minimizes the risk of any issues. And in some cases, this may be the only option available."
Time saved: As much as two weeks, or the number of days the escrow company takes to cash and then certify your funds.
4. Keep the appraisal process running smoothly
Appraisals are a crucial step in buying a home. The appraiser's determination of the value of the property dictates how much your bank will lend to you. You may be pre-approved for a $400,000 mortgage, but if the appraiser says the house is worth only $350,000, your bank is not going to hand over more.
To ensure the appraisal process is fast and efficient, work with the seller so that the appraiser can access the house in a timely fashion, and that means every nook. If an appraisal comes in lower than the sale price, you can always negotiate with the seller on repairs or updates that will add value.
"If the appraiser is not accommodating, contact your lender," Auerbach says. "Most banks use appraisal-management companies, and these companies will have more than one option for appraisers."
That rule doesn't apply to Department of Veterans Affairs loans; in those cases, the VA chooses the appraiser, and the bank has no recourse.
Time saved: If you stall the appraiser, you could add several days or weeks to the closing process. An appraisal can take as long as two weeks, depending on the complexity of the property and the issues involved in determining its value, Sahnger says. To keep that task at two weeks or less, you should ask your real-estate agent to give you a list of comparable properties that the appraiser may find useful.
5. Specify repair provisions in the contract
Time should be allotted for inspections that let buyers determine if they want to purchase the home "as is," Sahnger says. Buyers should specify the time frame for completing repairs after an inspection.
"Buyers can also include provisions that allow for the seller to repair any issues that are determined within specified dollar limits -- say, a percentage of the sale price or (an) exact amount," he says. "This way, if an inspection determines that there may be unexpected repairs needed to the property, the buyer can either get it covered or choose to negotiate something different in the contract."
Time saved: Minimal, Sahnger says. But inspections and negotiations over items to be fixed can add days or weeks to the closing process if they pop up late.
6. Hire a reputable escrow company
Escrow is essentially a trusted, third-party account through which money for the home purchase is received, held and disbursed. Selection of an escrow company is the key, as is maintaining an open line of communication with your escrow contact. Experts suggest checking in at least twice a week in writing, to create a paper trail. Your calls can help move the process along.
"The fastest that you can get (an escrow) commitment might be half a day to a day," Huettner says. "The typical time would be two to five days. But it depends on how busy people are at the company.
"When you call, I would ask them: 'How long is it currently taking to get things done?' Sometimes, they'll make an exception depending on your needs. They'll tell you they're backed up or that they're working really quickly right now." When in doubt, he says, call two or three companies for estimates.
Time saved: About five days, if you find a solid escrow company that can handle your business.
7. Line up your insurance early
On the same day that your escrow is opened, you should buy a homeowners insurance policy, plus any other necessary coverage, such as a flood policy. Make sure your escrow officers get your insurance broker's phone number immediately.
The policy will not take effect until closing, "so you are not paying for coverage just because you obtained the policy in advance," says Peter Grabel, a loan originator at Luxury Mortgage Corp. in Stamford, Conn. "You might need to revise the policy if the coverage is deemed to be insufficient or if the documentation is not worded properly. A closing cannot be scheduled until coverage is confirmed."
8. Build a pre-closing paperwork folder
Ask your mortgage broker to give you a list of all financial documents that you will need to collect for the closing. Begin pulling together that paperwork right away, checking off each record as you add it to your pre-closing folder, experts say.
The usual stack includes all pages of your bank statements and copies of all your pay stubs. Turn over every scrap of financial paperwork that you think reveals something about your monetary health. It all will turn up eventually anyway as the lender combs through your mortgage application.
"Don't try to save paper," Grabel says. "If a bank statement is numbered 1 to 24 pages, [the bank] will need all 24 pages, even the one that says 'intentionally left blank.' If any item is missing, the entire file will have to go back into the loan's underwriter."
Time saved: Five business days, if you can avoid having your loan file returned to the underwriter, Grabel says.
9. Respond promptly to requests for more information
This often is the point in the process -- after you've seemingly answered every extraneous question and turned over every shred of your financial information -- where you may become the most frustrated.
Don't worry: The end should be near. Don't let your exasperation over any last-minute plea for more records stall your process. But, yes, that question typically means the closing will take longer.
"Even if a missing item seems insignificant, it will require the file to go back into the queue for an underwriter to review," Grabel says. "If the request is vague, speak to your loan officer to make sure you understand exactly what is being requested."
Time saved: It's up to you. Huettner says he has had clients wait two to three weeks to turn over those last-needed documents -- delaying the closing for that same amount of time. "Just drop everything and get that done," Huettner says. "Lenders don't typically assume you're going to take two weeks to get something back to them. They assume you're going to do it in a day or two."
10. Verify your past 2 years' employment history
Some mortgage experts contend that to get your mortgage to the closing table in the fastest way possible, you should supply five years' worth of work-history documentation. Huettner calls that overkill and says that two years' worth is adequate to get your loan approved in a timely way.
"Of course, if you were laid off for six months during that time, make sure add another six months of employment records [before the layoff]," he says.
You should never embellish your work history or your wages. The lies will come out and simply lengthen the process -- or worse, cause the loan to be denied, experts say. If life events such as a divorce or a major illness have put a recent crimp in your savings, you should be ready to explain those.
Time saved: About a week, which is the time you'll lose if the underwriter sees that hole in your documentation and flags your file for later review.
http://realestate.msn.com/how-to-have-the-fastest-closing-ever
Sunday, February 10, 2013
Pricing: Take Your Sellers for a Ride
Pricing: Take Your Sellers for a Ride
Don’t make potential buyers play a guessing game. If you leave these three pieces of information out of the property ad, you'll never get a call on your listing.
| BY IAN GRACE
Look at What Research Tells Us
There are three important pieces of information that potential buyers look for in any real estate advertising: price, location, and number of bedrooms. If research shows that these are conclusively the top three pieces of information potential buyers require, then common sense says give it to them! I make mention of that fact because, depending on which country I am working in, I see some or even all of those pieces of information left out of the advertising. How illogical is that, flying in the face of what research tells us?
In countries such as Australia and New Zealand where auction is a very popular and often a very effective way of selling homes, many agents leave price out completely — not even an indication of price to be seen. This leads to many disgruntled potential buyers who probably should never have attended a particular auction in the first place because they have dramatically misjudged the price of the home.
Research from the Australian Real Estate Institute says that as many as 58 precent of potential buyers will not ask any for any further information on a property if the price (or at least a price indication) isn’t included in the ad.
Price, therefore, is vitally important, and it’s your job to communicate that importance to your clients.
Consultative Selling Means Teamwork
Instead of selling at potential sellers, consultative selling is when the real estate professional works as an expert consultant alongside the sellers. So, pricing is obviously vital, because if the salesperson and the seller can't agree on pricing before the relationship starts, then the pair are never working properly as a team.
This is when the real estate practitioner needs to have the courage and integrity to walk away from a listing, while offering any assistance the seller should need in the future. I have seen this happen time after time, and when the salesperson impresses the seller with their honesty and integrity, they usually still end up with the listing.
So, how do we get closer to real agreement on a realistic price?
By taking the sellers for a ride.
Explain Your Pricing Strategy
The ride should always begin with a competitive market analysis outlining exactly what has sold in the client’s area, right up until yesterday. This is the kind of information a seller should be able to expect from their real estate "expert."
Impress upon the seller how important it is to be working together on the same goal — price — in mind. Tell them you need to spend a little time with them and take them for a drive. Armed with the CMA and your digital camera, you then visit several homes that are similar to theirs that have sold in recent times. Photograph the homes and compare what they have to offer: not just the home itself, but what the surrounding area offers.
For example, two homes that would appear to be identical can be priced quite differently if one is adjacent to a park where children could play, pets could be taken for a walk, and adults could just relax, stroll, or picnic. The price difference is quite dramatic between beachfront homes as compared to one street back from the beach, even when the physical characteristics of the properties might appear to be the same.
Once you return to the seller's home, armed with the photographs, your CMA, and the actual comparisons of real homes with actual prices achieved, it is normally a much easier exercise to reach agreement on what a realistic price goal should be.
In my experience, sellers are highly impressed by the integrity of the real estate professional who takes the time to drive sellers around to make those comparisons. It sets that salesperson apart, because 90 percent of agents would never consider it. Therefore, it’s a unique selling point.
Also, if another salesperson tries to "buy the listing" by inflating the expected selling price, the seller has now been armed with the correct information in the most honest possible way. As much as they would like to believe an inflated price they are presented with, they realize it's not right and they may question the integrity and advice of that other agent.
So, taking your sellers for a ride has some great advantages and will win you many more listings.
Location, Location, Location
An agent in one of my classes was buying a house himself — he had been to see this particular home and thought it was okay, then arranged for his wife to view the property with him and the REALTOR® who was selling it. When they arrived at the property, the wife had one look at the front of the house and said she hated the property and there was no chance she would agree to buy it. She was not even going to get out of the car.
Eventually, the husband managed to get her (very reluctantly) to walk into the house, convincing her to be polite out of respect to the REALTOR® who had met them there. They’d have a look and then tell the agent it wasn't for them.
However, once the wife walked into the house and, particularly, walked onto the expansive back deck and veranda, with a beautiful view over a nature preserve, she fell in love with the property and they bought it.
This is a perfect example of when an ad showing the front of the house would never have worked. Also, giving clients the address in advance of your arrival to show them the house would also never have worked in this instance, either, because the clients wouldn’t have gotten out of their car.
Be Honest About Bedrooms
Sometimes I notice that the agents leave out the number of bedrooms, most particularly when it only happens to be one or two bedrooms, as they somehow feel that might put off potential buyers. But they will "sell" them on the property when they phone to see how many bedrooms it has.
The truth is, this tactic doesn’t work. If there are two properties advertised side by side that appear to satisfy the buyer’s needs, one property telling the number of bedrooms and the other not, guess which one the buyer will phone first—obviously, the one telling them how many bedrooms. Don’t make potential buyers play a guessing game.
Don’t make potential buyers play a guessing game. If you leave these three pieces of information out of the property ad, you'll never get a call on your listing.
| BY IAN GRACE
Look at What Research Tells Us
There are three important pieces of information that potential buyers look for in any real estate advertising: price, location, and number of bedrooms. If research shows that these are conclusively the top three pieces of information potential buyers require, then common sense says give it to them! I make mention of that fact because, depending on which country I am working in, I see some or even all of those pieces of information left out of the advertising. How illogical is that, flying in the face of what research tells us?
In countries such as Australia and New Zealand where auction is a very popular and often a very effective way of selling homes, many agents leave price out completely — not even an indication of price to be seen. This leads to many disgruntled potential buyers who probably should never have attended a particular auction in the first place because they have dramatically misjudged the price of the home.
Research from the Australian Real Estate Institute says that as many as 58 precent of potential buyers will not ask any for any further information on a property if the price (or at least a price indication) isn’t included in the ad.
Price, therefore, is vitally important, and it’s your job to communicate that importance to your clients.
Consultative Selling Means Teamwork
Instead of selling at potential sellers, consultative selling is when the real estate professional works as an expert consultant alongside the sellers. So, pricing is obviously vital, because if the salesperson and the seller can't agree on pricing before the relationship starts, then the pair are never working properly as a team.
This is when the real estate practitioner needs to have the courage and integrity to walk away from a listing, while offering any assistance the seller should need in the future. I have seen this happen time after time, and when the salesperson impresses the seller with their honesty and integrity, they usually still end up with the listing.
So, how do we get closer to real agreement on a realistic price?
By taking the sellers for a ride.
Explain Your Pricing Strategy
The ride should always begin with a competitive market analysis outlining exactly what has sold in the client’s area, right up until yesterday. This is the kind of information a seller should be able to expect from their real estate "expert."
Impress upon the seller how important it is to be working together on the same goal — price — in mind. Tell them you need to spend a little time with them and take them for a drive. Armed with the CMA and your digital camera, you then visit several homes that are similar to theirs that have sold in recent times. Photograph the homes and compare what they have to offer: not just the home itself, but what the surrounding area offers.
For example, two homes that would appear to be identical can be priced quite differently if one is adjacent to a park where children could play, pets could be taken for a walk, and adults could just relax, stroll, or picnic. The price difference is quite dramatic between beachfront homes as compared to one street back from the beach, even when the physical characteristics of the properties might appear to be the same.
Once you return to the seller's home, armed with the photographs, your CMA, and the actual comparisons of real homes with actual prices achieved, it is normally a much easier exercise to reach agreement on what a realistic price goal should be.
In my experience, sellers are highly impressed by the integrity of the real estate professional who takes the time to drive sellers around to make those comparisons. It sets that salesperson apart, because 90 percent of agents would never consider it. Therefore, it’s a unique selling point.
Also, if another salesperson tries to "buy the listing" by inflating the expected selling price, the seller has now been armed with the correct information in the most honest possible way. As much as they would like to believe an inflated price they are presented with, they realize it's not right and they may question the integrity and advice of that other agent.
So, taking your sellers for a ride has some great advantages and will win you many more listings.
Location, Location, Location
An agent in one of my classes was buying a house himself — he had been to see this particular home and thought it was okay, then arranged for his wife to view the property with him and the REALTOR® who was selling it. When they arrived at the property, the wife had one look at the front of the house and said she hated the property and there was no chance she would agree to buy it. She was not even going to get out of the car.
Eventually, the husband managed to get her (very reluctantly) to walk into the house, convincing her to be polite out of respect to the REALTOR® who had met them there. They’d have a look and then tell the agent it wasn't for them.
However, once the wife walked into the house and, particularly, walked onto the expansive back deck and veranda, with a beautiful view over a nature preserve, she fell in love with the property and they bought it.
This is a perfect example of when an ad showing the front of the house would never have worked. Also, giving clients the address in advance of your arrival to show them the house would also never have worked in this instance, either, because the clients wouldn’t have gotten out of their car.
Be Honest About Bedrooms
Sometimes I notice that the agents leave out the number of bedrooms, most particularly when it only happens to be one or two bedrooms, as they somehow feel that might put off potential buyers. But they will "sell" them on the property when they phone to see how many bedrooms it has.
The truth is, this tactic doesn’t work. If there are two properties advertised side by side that appear to satisfy the buyer’s needs, one property telling the number of bedrooms and the other not, guess which one the buyer will phone first—obviously, the one telling them how many bedrooms. Don’t make potential buyers play a guessing game.
Saturday, February 9, 2013
California's million-dollar home sales hit five-year high
The number of homes statewide sold for more than $5 million reached an all-time high last year, while those selling at a million dollars or more rose to the highest level since 2007 last year, a real estate information service has reported.
Cash buyers, an upturn in home prices and the recovering economy played a role in the increase, as did a year-end rush among the wealthy to take advantage of lower capital gains taxes by closing before year end.
Across California, 697 homes sold for more than $5 million compared to the previous high of 491 in 2011.
The 26,993 homes sold at $1-million-plus represented a 26.9% jump from 2011, according to San Diego-based DataQuick. In comparison, 42,502 home sales exceeded the million-dollar mark in 2007, before the mortgage meltdown dragged down home prices across the housing market.
The record was set in 2005, when 54,773 homes sold for a million dollars or more. The luxury market outpaced overall sales, which were up 8.2% statewide.
"It should go without saying that buyers and sellers in the prestige market tend to respond to different motivations and incentives than the rest of the market," John Walsh, DataQuick president, said in a press release. "Job security, down payment sizes and mortgage interest rates don't play the same role. Returns on investments in a low interest-rate financial environment and safe-haven investing do play a role."
Hillsborough claimed top spot with 422 sales at $1-million-plus. Southern California communities with the most $1 million-plus sales included Manhattan Beach, Newport Beach, La Jolla, Brentwood, Beverly Hills and Laguna Beach.
Cash buyers accounted for a record 7,791 of the million-dollar home sales, up from 5,802 in 2011.
The most expensive transaction to appear in public records was the $117.5-million sale of an 8,930-square-foot mansion on nine acres in the Northern California community of Woodside.
Among top sales locally last year was Oracle Corp. head Larry Ellison's purchase of a three-structure, copper-roofed compound along Malibu's Carbon Beach for $36.944 million.
Almost all home sales in the communities of Ross in Marin County; San Marino and Santa Monica in Los Angeles County; Los Altos in Santa Clara County; Atherton and Hillsborough in San Mateo County; and Rancho Santa Fe in San Diego County were in $1-million-plus territory.
Cash buyers, an upturn in home prices and the recovering economy played a role in the increase, as did a year-end rush among the wealthy to take advantage of lower capital gains taxes by closing before year end.
Across California, 697 homes sold for more than $5 million compared to the previous high of 491 in 2011.
The 26,993 homes sold at $1-million-plus represented a 26.9% jump from 2011, according to San Diego-based DataQuick. In comparison, 42,502 home sales exceeded the million-dollar mark in 2007, before the mortgage meltdown dragged down home prices across the housing market.
The record was set in 2005, when 54,773 homes sold for a million dollars or more. The luxury market outpaced overall sales, which were up 8.2% statewide.
"It should go without saying that buyers and sellers in the prestige market tend to respond to different motivations and incentives than the rest of the market," John Walsh, DataQuick president, said in a press release. "Job security, down payment sizes and mortgage interest rates don't play the same role. Returns on investments in a low interest-rate financial environment and safe-haven investing do play a role."
Hillsborough claimed top spot with 422 sales at $1-million-plus. Southern California communities with the most $1 million-plus sales included Manhattan Beach, Newport Beach, La Jolla, Brentwood, Beverly Hills and Laguna Beach.
Cash buyers accounted for a record 7,791 of the million-dollar home sales, up from 5,802 in 2011.
The most expensive transaction to appear in public records was the $117.5-million sale of an 8,930-square-foot mansion on nine acres in the Northern California community of Woodside.
Among top sales locally last year was Oracle Corp. head Larry Ellison's purchase of a three-structure, copper-roofed compound along Malibu's Carbon Beach for $36.944 million.
Almost all home sales in the communities of Ross in Marin County; San Marino and Santa Monica in Los Angeles County; Los Altos in Santa Clara County; Atherton and Hillsborough in San Mateo County; and Rancho Santa Fe in San Diego County were in $1-million-plus territory.
Friday, February 8, 2013
Thank You Rolling Hills
Thank You Rolling Hills
Gordon Inman, Owner of Keller Williams L.A. Harbor and Keller Williams Palos Verdes, would like to thank the residents of Rolling Hills for making Keller Williams the #1 Real Estate company of choice in 2012 for our city. As a 25 year resident I have had the pleasure to serve on the Architectural committee for 16 years. The committee has given me the insight to information that has helped buyers with architectural decisions on guest homes, stables and the residence. My sales partner Keith Kelley and I are really excited to ring in 2013.
The Golden states high end Real Estate Market reclaimed some of its luster in 2012. During 2012, a record 7,791 of the buyers paid cash, up from 5,802 in 2011. Buyers feel more confident about home values beginning to steadily rise and are less concerned about buying now. So their is a definite trend to the upper class spending spree.
Thank you for reading.
The Inman Team
Your Trusted Realtors for the South Bay
Gordon Inman, Owner of Keller Williams L.A. Harbor and Keller Williams Palos Verdes, would like to thank the residents of Rolling Hills for making Keller Williams the #1 Real Estate company of choice in 2012 for our city. As a 25 year resident I have had the pleasure to serve on the Architectural committee for 16 years. The committee has given me the insight to information that has helped buyers with architectural decisions on guest homes, stables and the residence. My sales partner Keith Kelley and I are really excited to ring in 2013.
The Golden states high end Real Estate Market reclaimed some of its luster in 2012. During 2012, a record 7,791 of the buyers paid cash, up from 5,802 in 2011. Buyers feel more confident about home values beginning to steadily rise and are less concerned about buying now. So their is a definite trend to the upper class spending spree.
Thank you for reading.
The Inman Team
Your Trusted Realtors for the South Bay
Thursday, February 7, 2013
Home Improvement: Top Projects Under $1,000
By Service Magic for AOL Real Estate
It's hard enough to save $1,000 for your home improvement budget. Trying to decide on the best way to spend the money can be overwhelming when you run into project-after-project that's just a little too expensive. It's easy to become so discouraged that you abandon the idea. And that's unfortunate when there are several worthwhile, reasonably priced improvements out there.
Here are 10 top home improvement projects, one of which will likely answer your needs:
• Install a water heater - $922
Whether it's a shower that runs out of hot water, rising monthly bills, or a plumbing failure, a reliable water heating system is a great treat for your home. If you're worried about affordability, a conventional hot water tank will do the trick. For greater energy-efficiency, you should be able to install a tankless system for just over $1,000. (Find highly rated professional plumbers in your area.)
• Clean and seal a deck or porch - $888
It's not the most exciting of home improvements, but ensuring a long, healthy life for your deck or porch by sealing it this year is a wise investment. If you usually take care of this project yourself, you know it's more time-consuming than it looks. Maybe you can take this year off. The pros will use high-quality sealant products and a flawless application method. (Find highly rated deck & porch professionals in your area.)
• Install a security system - $873
It sounds like an easy sell, but it's also just as easy for homeowners to tell themselves that they won't get robbed or that installing a security system won't make a difference. With a smart design and implementation, these systems will act as an effective deterrent, while lowering your homeowners' insurance. AOL Real Estate's guides have more information on cutting-edge security systems that are available on the market.
• Tree service - $801
Tree trimming is one of the most widely neglected pieces of landscaping maintenance and home improvements. Along with reducing the odds that you'll need to chop them down, keeping your trees healthy will enhance their visual appeal and, in turn, your home's. Once you see how quickly your tree creates new shoots, you'll realize just how much dead branches were holding it back. (Find highly rated professional landscapers in your area.)
• Hire a painter for a small project - $736
Sometimes you just need to give yourself a treat by treating yourself to a stress-free home improvement project. Hiring a professional painter to really do a number on the walls of your favorite room can brighten your mood and brighten your interior decorating. (Find highly rated professional painters in your area.)
• Install a whole house fan - $706
An incredible resource for supplementary cooling that will aid an undersize or ailing air conditioning unit. Using only 10 percent of the power of conventional air conditioners, these fans will pull in large quantities of cool air during the morning and evening hours, while pushing warm air out through the attic. (Find highly rated professional A/C technicians in your area.)
• Bathtub refacing - $690
Assuming that cracked or corroded tubs must be replaced, many homeowners fail to realize the potential for bathtub refacing. In fact, some refacing techniques, such as fiberglass inlays, have gotten so good that the refaced tub is actually stronger than the original, for a fraction of the replacement cost. (Find highly rated bathtub refacing contractors in your area.)
• Roof repair - $558
Whether it's warped shingles, granule loss, or spots on the ceiling, any sign of roof damage will make this repair a top priority for your home improvement budget. Know that you may need to choose between repairs. Some roof patches may cost a couple hundred bucks and last for only a year. More substantive repairs may add many years to your roof and cost a thousand dollars or more. (Find highly rated roofing professionals in your area.)
• Drywall repair - $539
With the size of the damaged or missing drywall, so goes the difficulty of the repair. Minor holes can be tackled by homeowners, but to fix anything much larger than the size of a quarter takes a good amount of skill, patience, or a little of both. The cost of drywall repair can surprise many people, but it's worth it for a seamless patch job. (Find highly rated drywall professionals in your area.)
• Wood fence repair - $520
Replacing warped or missing panels will return your wood fence to a respectable condition, but the most important part of the repair may be the staining process that stops further deterioration. It may feel like a lot of money, but it's better than replacement (average cost: $2,858) or losing this landscaping feature altogether. (Find highly rated fencing professionals in your area.)
Final Tip: If none of these projects address your home's needs, you may just want to plan for a future home improvement project. Talk to several contractors about what areas do need work, what size budget you must create, and how soon the project needs to begin to prevent more serious issues.
http://realestate.aol.com/blog/2010/08/20/home-improvement-top-projects-under-1-000/
It's hard enough to save $1,000 for your home improvement budget. Trying to decide on the best way to spend the money can be overwhelming when you run into project-after-project that's just a little too expensive. It's easy to become so discouraged that you abandon the idea. And that's unfortunate when there are several worthwhile, reasonably priced improvements out there.
Here are 10 top home improvement projects, one of which will likely answer your needs:
• Install a water heater - $922
Whether it's a shower that runs out of hot water, rising monthly bills, or a plumbing failure, a reliable water heating system is a great treat for your home. If you're worried about affordability, a conventional hot water tank will do the trick. For greater energy-efficiency, you should be able to install a tankless system for just over $1,000. (Find highly rated professional plumbers in your area.)
• Clean and seal a deck or porch - $888
It's not the most exciting of home improvements, but ensuring a long, healthy life for your deck or porch by sealing it this year is a wise investment. If you usually take care of this project yourself, you know it's more time-consuming than it looks. Maybe you can take this year off. The pros will use high-quality sealant products and a flawless application method. (Find highly rated deck & porch professionals in your area.)
• Install a security system - $873
It sounds like an easy sell, but it's also just as easy for homeowners to tell themselves that they won't get robbed or that installing a security system won't make a difference. With a smart design and implementation, these systems will act as an effective deterrent, while lowering your homeowners' insurance. AOL Real Estate's guides have more information on cutting-edge security systems that are available on the market.
• Tree service - $801
Tree trimming is one of the most widely neglected pieces of landscaping maintenance and home improvements. Along with reducing the odds that you'll need to chop them down, keeping your trees healthy will enhance their visual appeal and, in turn, your home's. Once you see how quickly your tree creates new shoots, you'll realize just how much dead branches were holding it back. (Find highly rated professional landscapers in your area.)
• Hire a painter for a small project - $736
Sometimes you just need to give yourself a treat by treating yourself to a stress-free home improvement project. Hiring a professional painter to really do a number on the walls of your favorite room can brighten your mood and brighten your interior decorating. (Find highly rated professional painters in your area.)
• Install a whole house fan - $706
An incredible resource for supplementary cooling that will aid an undersize or ailing air conditioning unit. Using only 10 percent of the power of conventional air conditioners, these fans will pull in large quantities of cool air during the morning and evening hours, while pushing warm air out through the attic. (Find highly rated professional A/C technicians in your area.)
• Bathtub refacing - $690
Assuming that cracked or corroded tubs must be replaced, many homeowners fail to realize the potential for bathtub refacing. In fact, some refacing techniques, such as fiberglass inlays, have gotten so good that the refaced tub is actually stronger than the original, for a fraction of the replacement cost. (Find highly rated bathtub refacing contractors in your area.)
• Roof repair - $558
Whether it's warped shingles, granule loss, or spots on the ceiling, any sign of roof damage will make this repair a top priority for your home improvement budget. Know that you may need to choose between repairs. Some roof patches may cost a couple hundred bucks and last for only a year. More substantive repairs may add many years to your roof and cost a thousand dollars or more. (Find highly rated roofing professionals in your area.)
• Drywall repair - $539
With the size of the damaged or missing drywall, so goes the difficulty of the repair. Minor holes can be tackled by homeowners, but to fix anything much larger than the size of a quarter takes a good amount of skill, patience, or a little of both. The cost of drywall repair can surprise many people, but it's worth it for a seamless patch job. (Find highly rated drywall professionals in your area.)
• Wood fence repair - $520
Replacing warped or missing panels will return your wood fence to a respectable condition, but the most important part of the repair may be the staining process that stops further deterioration. It may feel like a lot of money, but it's better than replacement (average cost: $2,858) or losing this landscaping feature altogether. (Find highly rated fencing professionals in your area.)
Final Tip: If none of these projects address your home's needs, you may just want to plan for a future home improvement project. Talk to several contractors about what areas do need work, what size budget you must create, and how soon the project needs to begin to prevent more serious issues.
http://realestate.aol.com/blog/2010/08/20/home-improvement-top-projects-under-1-000/
Wednesday, February 6, 2013
Powerful Home Presentation Tools
Powerful Home Presentation Tools
The Inman Team Tip:
Being able to show your potential client what you offer and how you plan to sell their home is huge. Our team creates a presentation for each new client. It is a very simple presentation put into a booklet that has information from our past sells in your area to how we plan to advertise and market your home. Also add in photos, references, and testimonials to show off how thankful your clients are to have you as their Realtor, this shows potential clients that you are trusted. Either way creating some kind of presentation gives the client a visual to see what you are capable of and if it will work for them. Read this article below...
By Denise Lones
Humans, by nature, are visual creatures. What we see with our eyes is what tugs at the strings of our heart and engages us emotionally. Visual cues are extremely important in real estate because of this—it's the way we first connect buyers to homes, and it's the way those buyers ultimately move beyond simply looking at a home to mentally creating new memories in that home... before they even live there.
When you have fabulous home marketing materials to showcase at your listing presentation, you're not only reinforcing the positive way the sellers feel about their home, you're also visually showing the importance of reaching the emotional side of buyers through home preparation, beautiful photography, and engaging video.
Sellers tell us over and over that home presentation is critically important to them. It's one of the reasons they choose one agent over another. If your home presentation tools aren't up to snuff, you're going to lose business!
When you have "props" that show potential sellers what your home presentation tools look like, your ability to "wow" the sellers and get the listing goes up very quickly. This is especially true if sellers are comparing you to agents who have either poor quality—or very few—tools.
If you know you need to step up your game, but aren't sure where to start, here are some ideas to get you going. None of these ideas are terribly expensive. But they will give you a huge return on your investment, helping you build long-term and sustainable relationships with your sellers and attract potential buyers to every one of your listings.
Photos, photo galleries, and video: Unless you are also a professional photographer or videographer, hire professionals who specialize in showcasing homes. Your home presentation tools should include incredible photography that draws buyers in from the first time they pull up the listing. When you show sellers what kind of photography you invest in, they'll instantly understand the value you bring to the table.
The Home Photo Book
This is different than what I call the "home book" (a book where you include items such as home care and warranty records, the most current inspection report, tax and appraisal records, and neighborhood and community information). The home photo book is a photographic tour of the home that draws the buyer in and allows them to envision themselves living there. This is where you tell the story of the home!
Here's how to build the home photo book:
Start with amazing photos. These photos must be very high resolution and print-quality. They should be so good that when you print them at 8"x10" they look even more amazing.
Many agents use an online company like Shutterfly to build their home photo book. For about $30, and just a little time, you can create something quite stunning. All you do is pick your style, pick your cover, and upload your photos.
Other agents buy what I call the 'wedding album' book. You can find these at any craft or photo store. If you buy the version with the die-cut front cover, you can insert a beautiful exterior home photo for the cover. Print out high-quality photos on glossy photo paper and mount them to the pages. Remember to take care of it to make it last as long as possible—it can get worn out as you show it to more and more potential sellers.
When you're showing your sample home photo book to your sellers, be sure to let them know that you'll be creating a similar book for their home. That book would be prominently displayed in the home (perhaps next to the flyer stand) for buyers to look at when they're touring. And don't just make a single book—make (or order) two of them! After closing, one can stay in the home for the buyers, and you can give the second copy to the sellers at closing. They will love having this beautiful book to remind them of their former home.
Home Staging
Be careful here, because sometimes sellers think that when you offer to stage their home you are actually going to change their home so much that you make it unlivable for them. Or, they may assume you are offering to spend hundreds of dollars to get their home ready for the market. Make sure you clearly explain your plan so your actions match their expectations. Some agents are now calling this service "home merchandising" rather than "staging."
Here's how it might sound as you talk to sellers: "One of the things we need to consider is how to merchandise your home properly to engage potential buyers. I know you might have visions of us drastically changing your home. Don't worry! We don't need to change the way you live—we just need to help buyers see how they might live in the home."
Be sure to use your home merchandising props—the before and after photos that show sellers exactly what you mean by merchandising, and the value that it brings to them. If you have statistics that show how your merchandising efforts lead to fewer days-on-market or a higher sales price, use them in your props! Create a visual board that has some beautiful "before and after" photos, and a flyer that displays the statistics to back you up.
I don't want you to feel so overwhelmed that you never get started creating your listing presentation props. So—feel free to start small. Once you see the value (and I guarantee the value will be BIG), you will be ready to create more and more visual props that reinforce your professional skills as a listing agent. Your goal should be to have a very compelling, very professional presentation... one that is so impressive that sellers hire you on the spot.
http://www.realestatezebrablog.com/2011/04/28/powerful-home-presentation-tools/
Thanks for reading.
The Inman Team
The Inman Team Tip:
Being able to show your potential client what you offer and how you plan to sell their home is huge. Our team creates a presentation for each new client. It is a very simple presentation put into a booklet that has information from our past sells in your area to how we plan to advertise and market your home. Also add in photos, references, and testimonials to show off how thankful your clients are to have you as their Realtor, this shows potential clients that you are trusted. Either way creating some kind of presentation gives the client a visual to see what you are capable of and if it will work for them. Read this article below...
By Denise Lones
Humans, by nature, are visual creatures. What we see with our eyes is what tugs at the strings of our heart and engages us emotionally. Visual cues are extremely important in real estate because of this—it's the way we first connect buyers to homes, and it's the way those buyers ultimately move beyond simply looking at a home to mentally creating new memories in that home... before they even live there.
When you have fabulous home marketing materials to showcase at your listing presentation, you're not only reinforcing the positive way the sellers feel about their home, you're also visually showing the importance of reaching the emotional side of buyers through home preparation, beautiful photography, and engaging video.
Sellers tell us over and over that home presentation is critically important to them. It's one of the reasons they choose one agent over another. If your home presentation tools aren't up to snuff, you're going to lose business!
When you have "props" that show potential sellers what your home presentation tools look like, your ability to "wow" the sellers and get the listing goes up very quickly. This is especially true if sellers are comparing you to agents who have either poor quality—or very few—tools.
If you know you need to step up your game, but aren't sure where to start, here are some ideas to get you going. None of these ideas are terribly expensive. But they will give you a huge return on your investment, helping you build long-term and sustainable relationships with your sellers and attract potential buyers to every one of your listings.
Photos, photo galleries, and video: Unless you are also a professional photographer or videographer, hire professionals who specialize in showcasing homes. Your home presentation tools should include incredible photography that draws buyers in from the first time they pull up the listing. When you show sellers what kind of photography you invest in, they'll instantly understand the value you bring to the table.
The Home Photo Book
This is different than what I call the "home book" (a book where you include items such as home care and warranty records, the most current inspection report, tax and appraisal records, and neighborhood and community information). The home photo book is a photographic tour of the home that draws the buyer in and allows them to envision themselves living there. This is where you tell the story of the home!
Here's how to build the home photo book:
Start with amazing photos. These photos must be very high resolution and print-quality. They should be so good that when you print them at 8"x10" they look even more amazing.
Many agents use an online company like Shutterfly to build their home photo book. For about $30, and just a little time, you can create something quite stunning. All you do is pick your style, pick your cover, and upload your photos.
Other agents buy what I call the 'wedding album' book. You can find these at any craft or photo store. If you buy the version with the die-cut front cover, you can insert a beautiful exterior home photo for the cover. Print out high-quality photos on glossy photo paper and mount them to the pages. Remember to take care of it to make it last as long as possible—it can get worn out as you show it to more and more potential sellers.
When you're showing your sample home photo book to your sellers, be sure to let them know that you'll be creating a similar book for their home. That book would be prominently displayed in the home (perhaps next to the flyer stand) for buyers to look at when they're touring. And don't just make a single book—make (or order) two of them! After closing, one can stay in the home for the buyers, and you can give the second copy to the sellers at closing. They will love having this beautiful book to remind them of their former home.
Home Staging
Be careful here, because sometimes sellers think that when you offer to stage their home you are actually going to change their home so much that you make it unlivable for them. Or, they may assume you are offering to spend hundreds of dollars to get their home ready for the market. Make sure you clearly explain your plan so your actions match their expectations. Some agents are now calling this service "home merchandising" rather than "staging."
Here's how it might sound as you talk to sellers: "One of the things we need to consider is how to merchandise your home properly to engage potential buyers. I know you might have visions of us drastically changing your home. Don't worry! We don't need to change the way you live—we just need to help buyers see how they might live in the home."
Be sure to use your home merchandising props—the before and after photos that show sellers exactly what you mean by merchandising, and the value that it brings to them. If you have statistics that show how your merchandising efforts lead to fewer days-on-market or a higher sales price, use them in your props! Create a visual board that has some beautiful "before and after" photos, and a flyer that displays the statistics to back you up.
I don't want you to feel so overwhelmed that you never get started creating your listing presentation props. So—feel free to start small. Once you see the value (and I guarantee the value will be BIG), you will be ready to create more and more visual props that reinforce your professional skills as a listing agent. Your goal should be to have a very compelling, very professional presentation... one that is so impressive that sellers hire you on the spot.
http://www.realestatezebrablog.com/2011/04/28/powerful-home-presentation-tools/
Thanks for reading.
The Inman Team
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