Tuesday, August 15, 2006

How the real estate market is changing

How the market is changing, marketing techniques that affect home sellers. Here is what I am seeing on the listing (selling) side. Because of the rise of inventory: Your home needs to be immacultely clean, decorated well or staged. It MUST be priced competitively, not over priced or priced with other competition, instead it should be slightly under for maximum exposure, and believe it or not multiple offers are still happening, but only with aggressively priced homes. Yard should be as nice as possible, both front and back. Home paint both inside and out should look fresh and clean. we are no longer in the days of the "AS IS" sale. If you can go as is, that is great, but the luxury of not doing your inspections and work as needed before hand are becoming a thing of the past.
MARKETING IS CRUTIAL! In today's market place marketing, including MLS, internet,virtual tours, multiple pictures on MLS, newspaper, open house, direct mail, networking and phone campaigns are a must. No option to opt out of commissions. Don't undercut your realtor's commission or the buying brokers commissions. During a buyers market, your realtor will need every ounce of finance to market and advertise your home, not to mention the painstaking negotiations. On the flip side offering less commission could minimize your showings, although this is not legal, when selling a home, this should not be left up to chance.
You wouldn't ask your doctor or dentist to take a pay break, why ask your realtor, the person your trusting one of your most valued possessions? Don't do it, you could limit yourself to working with a realtor that does not offer the service and skills that you need or simply does not have the keen negotiation skills that are imparitive in this process.
Be motivated, patient and realistic. Don't compare with last years market price, compare with todays market price. Compare your home pricing to something more current. This market has a tendancy to change overnight, be realistic with your expectations for price and terms. I make it a point to see everything on the market in a 1 mile raduis if possible, to target price and competition. You should too, so that price is agreed upon from the get go. If thinking about buying or selling lets me share my market experience and insight with you.


Blogger HcoRealEstate said...

This comment has been removed by the author.

2:25 AM  

Post a Comment

<< Home