4 Listing Red Flags!!

I found this article in Realtor Magazine and found it to really do a great job summing up four very big problems that we run in to with listings, that I just had to share!!  Enjoy --

How you present a listing online and the words you choose to describe it may be turning off some buyers. Bankrate.com recently asked real estate professionals to weigh in on what listing red flags are turning off their buyers.

1. No photos. "One red flag in many buyers' eyes is the lack of photos for a listing," says Don Tepper with Long & Foster in Burke, Va. "There can be some legitimate reasons for few (or no) photos in a listing: The sellers want privacy, or they have valuables they don't want in the photos. But many would-be buyers--rightly or wrongly--assume that there's something wrong." Tepper recommends about a dozen photos for listings and photos that match the home’s description and showcases its best features.

2. Outlandish claims. Referring to the listing as the best property on the market might not be a good idea, says Ziad Najm, a broker at Cedar Real Estate in Mission Viejo, Calif. "Some buyers may be turned off to begin with and some will inevitably be disappointed if the claim doesn't live up to their expectations,” Najm says. Instead, Najm recommends focusing on adjectives that are flattering to the property but leave some room for interpretation.

3. Priced too low. You want to price the property competitively but pricing too low may make some buyers suspicious or attract unqualified buyers. "Typically, multiple buyers will be attracted to the low asking price and eventually the sales price will climb close to market value as competing offers bid up the price," Najm says. "However, the strategy is not without risk in that some buyers will be alienated by a potential bidding war."

4. Listing a property “as is” in the description. That’s not a deal breaker but when you see “as is” in a listing, buyers might be cautious, says Diane Conaway, a San Diego broker with RE/MAX United. Some buyers take the “as is” phrase as the "previous owners stole everything including the kitchen and bathrooms," Conaway says. "Our contract states 'as is' anyway, but some agents restate that in the listing, which is a disservice to their sellers."

January's Denver Numbers

Here are the statistics for the Greater Denver Metro and surrounding area at put forth by Metrolist.  Let me know if you have any questions!

News Flash: Life Is Not Fair

Whoever said life was fair?  When it comes to short sales, preforeclosures, and bank-owned properties one rule stands above all others: Life is not fair.  A short sale that ends with the property being foreclosed on is not a win/win scenario.  Being outbid by an investor for the home of your dreams when you can't afford any higher of a price does not qualify as the equivalent of everyone getting a participation ribbon.  And promises made by real estate agents are all equal at the beginning (I will make this short sale/purchase/sale/ transaction work for you!), but the end results are rarely on par with each other.

The reason I bring up this reality is that too many times we see all peers as equals when each has his or her own quality that defines them as different.  I did not say good or bad, but different.  These qualities help to mold the person you see, the real estate agent you hire, and the results you can expect to receive.  Sometimes we are accepting of someone's shortfalls simply because their personality lends them to be over-the-top likable.  They are always 30 minutes late ("He's running on Bob time again!"), they can make off color remarks with no repercussions ("John is so funny! I could never say something like that!"), or they simply don't perform as well as what we would want to expect, but the bar was never set very high to begin with ("Sheila forgot to send me those papers again, but that's Sheila.  I'll remind her again tomorrow.").

The question you have to ask yourself is -- Am I worth more than that?  Am I worth more than shoddy service because he's my brother's roommate from college?  Do I have to accept others being late for appointments while I have taken time out of my day to attend?  Shall I settle for the shortcomings of service providers at the expense of my personal and financial happiness?

Realtors are the perfect medium for answering and observing for this question.  All Realtors provide the same basic functions: assist in buying and/or selling property.  The differences separate the good from the great.  No Realtor is perfect, but it amazes me day in and day out how many of my "peers" are okay with mediocrity.  On the other end of the scale, I also am proud to associate with some truly phenomenal Realtors.  The great ones will always share with anyone that will listen exactly what they do each and every day to continue their pursuit of their passion because they know that 99% of their competitive peers will never implement a single idea put forth for improvement.

Life is not fair. You are allowed to win. It is okay to hate losing.  It is okay to want more.  It is okay to demand more.  Am I worth more than the status quo?

Yes I am.

Laying the Foundation

As this is my first post, I want to keep it short and to the point.  My posts will address real estate market conditions, sales and buying tips, and other not-so-industry-related thoughts.  Where most posts are talking at you, mine will be more constructed as the beginning of a dialogue.  Thoughts and input from anyone that reads my posts will always be not just welcomed, but encouraged. 

I look forward to our growth together!