BIg 6 Factors That Sell a Home!

Although they can be stated in different ways, there are only six factors that affect the sale of a home, according to blogger Karen Kruschka. The Sales Associate with RE/MAX Olympic Realty in Manassas, Va., wrote an Active Rain blog post detailing the "Big 6," as she calls them. These factors are controlled by three main entities: the seller, the agent and the market. Sharing the blog with your own clients and educating them on their role in the process gives you a perfect entry point to demonstrate your value as a trusted advisor – especially when they’re deciding on listing price and terms. Here’s an edited excerpt of Kruschka’s post: SELLERS Control 1. Price – You determine list price for your home. However, a list price above the market for homes similar to yours will negatively impact buyer interest in making an offer. Your Realtor will review price history with you to assist you in making a list price determination. 2. Terms – Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and terms will usually be negotiated at the same time. 3. Condition – How well you have maintained the home will influence both your price and the length of time it will take to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained. THE MARKET Controls 4. Timing – Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home. 5. Competition – The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis. REALTORS Control 6. Promotion – From entry into the Multiple Listing Service to Internet marketing and any other programs, your agent will have an impact on your home sale.
RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.

We Love The Highlands Ranch Chamber!

Check this video out!  You can tell we love the community that we are a part of!http://www.youtube.com/watch?v=Xl1e1CdKBio&feature=youtu.be

July's Real Estate Wrap Up

July 2011

Check this out and let me know what you think!!

Realistic Expectations

Too many times you will hear a client say something along the line of " I need to get at least $XXXX from the sale of my property".  There is only one problem with that --- need/want and reality are too often two very different beasts.  Needs and wants are what the client desires.  Everyone's home is so much better than the neighbor's home and therefore demands a higher value with fewer showings and less time on the market.  To make each of our lives perfect, we always want to see our needs and wants fulfilled with the least amount of complication and effort.

The reality of the situation is that anything you sell, whether it be a home, car, or widget (remember Marketing 101 in college?) is only worth what someone is willing to pay for it.  Sure, you can place what you think is a fair value on a home, but the home ultimately is only worth what a buyer is willing to write the check for.

Understanding market values is not a subject of study for the average seller, but rather a passion for the experienced realtor to pass along in a clear and concise way that will eliminate any room for disillusionment or misinterpretation.  Setting proper expectations with realistic goals will always make the entire transaction go smoother for buyers, sellers, Realtors, and any friends and family sharing in the experience.

Make your time profitable and your clients knowledgeable!

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.