Posts Tagged ‘seller’

3 Reasons the Holiday Season Is A Great Time To Sell!

November 24, 2014

home_selling_holidaysAs the holiday season nears, many homeowners who are contemplating selling think the holiday season isn’t a good time to sell their house. Because of that misconception, many will wait until after the start of the New Year, or even until spring to put their house on the market.

Contrary to what many think, the holiday season is a great time to sell a house! Putting a house on the market over the holidays can result in a seller getting a higher price and a quicker sale.

How can that be you ask? Here are three great reasons:

  • Buyers will have fewer homes to consider because competing inventory will be at its lowest level over the holidays.
  • Although there are fewer buyers looking at homes over the holidays, those that do are serious and highly motivated.
  • Homes that are tastefully decorated for the holidays show well.

So if you’re thinking about selling and planned to wait until after the holidays, you should consider going ahead now. The first step is to consult a real estate professional who is a local expert in your area.

Happy Holidays… and Happy Selling!

Rent It or Sell It?

October 27, 2014

rent_or_sellWhat should I do with this property? This is a pressing issue in today’s real estate environment in many circumstances. Owners and agents alike are posing this question every day.

The market has begun its journey toward recovery and home prices are rebounding. The recovery has made it possible for an increasing number of previously underwater sellers to become equity sellers again. While the recovery is in PROCESS, there are many agents and sellers that remain frustrated with the rate of PROGRESS. (more…)

It’s Time for a Price Adjustment

September 8, 2014

home_pricingThe story is all too common. During your initial listing appointment, you agreed on a price with your sellers. You’ve worked tirelessly with that listing for several weeks (or months), had plenty of showings, put in the research, and you’ve found there’s only one problem: The price is too high. Your clients have already explained to you that they “need to get this amount out of the sale”, and you know that bringing up a price drop will probably cause some friction if not an outright “No!”

Before you start stressing out, remember that a price reduction in is in their best interest and you have a professional obligation to tell them what they need to do to get them home sold. With proper preparation and solid tactics, you’ll not only get the property priced to sell, but you’ll also gain lifelong clients that will truly appreciate you.

Here are 5 ways to properly handle a price drop:

  1. Set the stage: When you take the listing, tell the Seller that although you are comfortable with the price they have selected, the market constantly changes and it’s your job to monitor the market activity and let them know about any changes that affect the sale of their property. Explain that some changes could make it necessary for them to re-evaluate their pricing strategy.
  2. Stay in touch: Before you can even start suggesting a change in price, your clients need to be able to trust you and see you as a professional. The best way to accomplish this is by having regular contact with your clients, even when there’s nothing to actually report on the listing. I suggest calling them at least once a week to give them an update on their home. If you constantly keep them up-to-date with the latest developments, there’s a much better chance that they’ll understand the reasoning behind the needed price reduction. While they may be disappointed, they’ll know that you’ve been working hard and that this is the best option.
  3. Have an in-person meeting: The last thing you want to do is upset your clients, and there is a much higher probability of them being upset if you simply call, email or text them that they need to drop the price. Plan a get together at their home, a local coffee shop or your office. Face to face meetings are always more effective.
  4. Be prepared: Do your research. Be prepared to discuss the state of the market, recent transactions in the area, showings and feedback on their property. Properly presented, it should be clear why you are recommending a change in the pricing strategy.
  5. It’s a “price adjustment”, not a “price reduction”: A surefire way to upset your sellers is to bring a negative attitude and connotation to the pricing discussion. Instead, you should keep positive and upbeat about the situation, and concentrate on the fact that this will help them sell their home and move on to the next phase in their life. Also, using the word “adjustment” instead of “reduction” is a more neutral term.
  6. Listen and respond: Your clients will definitely have questions during the meeting, and if you aren’t listening to the true meaning behind each question, there’s a good chance you could end with an unhappy client and continue to have an overpriced listing. Listen carefully and be sure to respond to any objections you may hear, but don’t be defensive. Be understanding and mindful, and you’ll end up with happy clients.

What are your tips for price adjustments? Please comment below!

The Power of Referrals in Your Business Plan

July 28, 2014

referral_techniquesReal estate professionals across the country recognize the value of referrals in their business planning.  Whether referring across town or across the country, referral dollars can increase your bottom line.

Are you capturing referral dollars in your business plan?

As mid-year passes, now is a great time to evaluate your business plan and think about how referral dollars can keep you on track to your goal.

Let’s look at four ways you can increase your referral business. (more…)

Dangers of Dual Agency: Walking the Tight Rope

July 14, 2014

dual_agencyWhen a Broker represents both the buyer and seller in the same transaction, there is the potential for Dual Agency to exist. More specifically, dual agency is created based on the involvement of the affiliated licensees of the broker.

When the buyer and seller are represented by the same broker, but different licensees respectively, the relationship is known as a Designated Agency Relationship. In the event there’s only one sales associate involved in the transaction and the brokerage only represents one party, there’s no risk of dual or designated agency.

There’s a common misperception that exists in the industry: If I sell my own listing, it’s always dual agency. This is simply not always the case. You can sell your own listings and not be in a dual agency situation. When selling your own listing, a dual agency scenario is based on there being a BBA with the buyer (with you as the agent) in addition to the Sellers Listing agreement signed (with you as the agent). (more…)

Objections are a Gift!

June 30, 2014

handling_objectionsMost real estate agents hope that their prospects won’t raise any objections. Instead, they should welcome them and see them as a gift! Anytime a prospect raises an objection, it provides an opportunity for the agent to earn their business.

Objections are a good sign because few prospects will bother to throw out an objection if they’re not interested in proceeding. When someone raises an objection, it simply means they have a concern and want or need to know more.

Depending upon the nature of the objection, objections can be dealt with in several different ways: (more…)

Adding Color to Small Spaces

June 23, 2014

color_in_small_spacesI recently helped a friend move into their new condo downtown, and one of the first things that I mentioned is that now would be the best time to start painting! When it comes to room design, a little color can go a long way, but many people hesitate when it comes to smaller spaces. They’re afraid that by adding color, they might make a room feel claustrophobic.

Color is one of the best ways to define a room, and a carefully chosen color can double a room’s apparent size! Here some of my tips for using color to create depth in small spaces. (more…)

Business Brokerage 101

May 19, 2014

selling_a_businessAs an agent, is it a good time to list and sell businesses? It’s always a good time to be in the business of business brokerage, but you should remember these tips.

First, you need to have an understanding of the business industry. If you want to list a dry cleaning business, take the necessary time to familiarize yourself with the business culture and language. You should try to select an industry that you have worked in or have an interest in. Agents that fail to adequately prepare for listing appear less than confident and have trouble earning the business owner’s respect. (more…)

Real Estate’s Most Valuable Asset

May 12, 2014

real_estate_agentThe perception that the public often has of Realtors® is not a good one. Consumer advocates, the media and self help authors will offer the public reasons why real estate agents are not working in the best interest of consumers. I believe many of these specialists do not understand what Realtors really do. They think all the agent does is unlock a door.

First of all, I still think that agents showing properties is very important. Agents have knowledge about houses themselves, which is an entire subject itself. Just for starters, most buyers don’t understand construction, floor plans or local design all of which can affect the re-sale value, not to mention community information, school information and commutes to and from various locations, which is why an agent is critical even in the beginning.  (more…)

Home Trends from the 80’s Are Making a Comeback

May 5, 2014

80s_interior_designRev up the DeLorean and get set to go back to the future! The same decade that spawned countless classics like Top Gun, Miami Vice and Charlie’s Angels is now back in style when it comes to home interior design.

While some ’80s trends — like pastel colors and neon socks — might make us shudder, others — like funky patterns and kitchen tables — deserve a second chance. Here’s a look at some ’80s trends designers have embraced and freshened up for today. (more…)

It’s a Process, Not an Event! Part 3

March 3, 2014

leads_to_salesIn a previous blog, we reviewed setting SMART goals. After setting your goals, you’re ready for the final step in the process: Writing a Business Plan and schedule that support the accomplishment of your goals.

Before launching into writing your plan, determine how many days/weeks you will work this year. It’s helpful to use a big planning calendar, ideally one that shows all 12 months at a glance. Mark off vacations, holidays, days off and other commitments. Be honest. Factor in some time for unexpected events such as illness. Most real estate agents truly work about 42 weeks a year.

Once you’ve determined the number of weeks you will work, you’re ready to complete the Business Plan steps: (more…)

Prices are Up! Appraisals are on the Rise!

January 6, 2014

home_appraisalThe recovery of the real estate market has contributed to a significant number of properties appraising for more than the sales price. There can be unintended consequences accompanied with these higher appraisals. The amount in excess of the sales price can have varied impacts on the transaction.

There are times when the property appraises for $2K-$3K above sales price and it seldom causes much concern in the transaction. However, there are also instances where properties appraise for $10K, $15K or more above the contract price and this is where the potential for issues occur. (more…)

Will My Deal Survive the Government Shutdown?

October 7, 2013

government_shutdownThe current shutdown of the U.S. Government could have an effect on contracts that you have pending or contracts that you write during the shutdown. Borrowers and agents should check with the specific Lender on each loan. Any sale that has a pending loan that was not fully approved and cleared to close with the closing package sent to the closing attorney as of midnight on Sep. 30 should expect delays to the closing. (more…)

What Your Home Insurance Covers… And What It Doesn’t

September 3, 2013

insurance_coverageWhenever you purchase a new home with financing, the mortgage company will absolutely require that you also purchase home insurance. Many homeowners view their home insurance as a “necessary evil”, and simply purchase their policy without knowing exactly what it covers.

Lenders want to know you’re protecting their investment from harm, such as damage caused by fire, water, a tree falling through the roof, and even vandalism. Don’t wait until something happens and you need to USE your policy to find out.

Unless you’ve added some extra coverage – or “upgrades” – to your policy, here’s a good rule of thumb on what a typical home insurance policy covers: (more…)

It’s Time for Homeowners to List!

August 26, 2013

kevin_levent_blogNo more waiting. It’s time to get your home on the market!

Here are some notable facts from a recent report provided by our state association, Georgia Realtors®: (more…)