May. 13, 2007 - Redfin on 60 Minutes
Well I just finished watching the virtues of listing your home on redfin.com versus using a Realtor. I bill myself as providing state-of-the-art representation and using technologically advanced marketing, so my mind was open when I began watching. I'll be the first Realtor to sign on with redfin.com if they truly provided superior service for buyers and sellers. From what I saw, they're not there yet. They showed a testimonial from only one satisfied client who was able to afford to feed the guests at her reception because she chose to use redfin over a traditional real estate agent.
The segment on 60 minutes would have you believe that many Realtors are money-grubbing salespeople with no regard for their clients' best interests. Guess what, some Realtors really are money grubbing, unethical salespeople. So are some doctors, tax preparers, lawyers, etc. etc. On the other hand, I know many honest, diligent, hard-working Realtors that put the interests of the client above the money. I truly feel that no matter what profession you are in, if you treat the client well and put their interests above all else, the money will follow.
Just to be sure I got the full picture before I made my mind up about the redfin services, I immediately visited their website. Uh oh. Their server was down. They did offer a few documents for viewing that gave a synopsis of their services. Again, I wasn't impressed. You truly can save money by using their services, but this means you do a large part of the work on your own. You hold your own open houses and arrange for private viewings on your own. (And I hope you don't have a full time job that makes it impossible for buyers to view your house while you are working). It appears your listing will show up on a few Internet sites with redfin. Their flyer states that the traditional agent does not do Internet marketing. With the marketing that Beth Ganem, my colleague, and I do, our listings show up on well over 50 Internet sites.
I think consumers were well served when we could book our own hotels and flights on the Internet and bypass, for the most part, the traditional travel agent. Real estate is a huge investment for most consumers. Flying to Disney isn't. For now, I think consumers are best served by the hands-on care given to our buyers and sellers. When that is no longer the case, I'll join redfin.
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Mar. 20, 2007 - The Buy-Sell Dilemma
Homeowners often find themselves in a position of wanting to purchase a new home and sell their present one at the same time. Where should they begin? They should start by keeping their goal in mind and with the help of a good Realtor, this process shouldn't be difficult providing they remain open to their agent's suggestions as to how best accomplish the goal.
First, get your current home in showing condition to prepare for listing it. Your Realtor will be able to go through your house with you and provide suggestions as to what changes to make to show your house in the best possible light. Do everything possible to follow their suggestions so that your house will sell quickly and at the highest possible price.
Second, have your Realtor start showing you houses. If the inventory of homes for sale is in your price range and style, have your Realtor list your home prior to making an offer on the home of your choice. This can be done in quickly since your home is already in showing condition.
You should not have to resort to temporary housing unless your home is extremely unique making it more difficult to sell, or if there are other conditions that make your house less saleable. And your Realtor should provide you with weekly feedback on showings and advise you if market conditions have changed making a price adjustment necessary. And be sure to make it convenient for buyer's to view your home by not restricting the showing times unnecessarily.
Normally, this strategy will help you to meet your goal without needless stress!
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Feb. 23, 2007 - Receive a CMA When You Buy or Sell
A Comparative Market Analysis, known as a CMA, is a written report that should be prepared by the Real Estate Agent and presented to a seller to help establish a listing price for their home and also prepared by a Buyer’s Agent to help the buyer determine a price to offer for a particular property of interest.
The CMA’s format varies from agent to agent and company to company, but each report should include some basic information. It should compare 2 to 5 or more properties that are currently on the market, sold within the past few years, or are under contract in a reasonable proximity to the home being evaluated. Although no two properties are equal, the comparables used should include listings with approximately the same number of bedrooms and bathrooms, square footage, architectural style, and acreage. It also indicates the number of days on the market, the original list price, and the final selling price.
When you are presented with a properly researched CMA, a seller will have a realistic idea of how much to list their house for, and a buyer will know how much to offer for a home. For the seller, there is a strong possibility that your house will sell quicker if priced within the CMA suggested range. For a buyer, having hard numbers to work with will provide the advantage of knowing if you are paying or offering too much for your dream home.
Whichever side of a real estate transaction you are on, make sure you have the hard numbers presented in a CMA before making your decision.
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Jan. 15, 2007 - It's Time to Get Your Home Listed!
The spring market has come early this year and is now upon us! It could be that the mild winter weather has home buyers searching for their new house earlier than usual. Whatever the reason, now is the time to get your home ready to list so you do not miss the peak selling season. After an offer is put in on your house, it takes approximately 8 weeks to go to closing, so it is time to contact your real estate agent to assist you in putting your house on the market. If you are not already working with another realtor, please contact me and I would be happy to assist you!
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Dec. 18, 2006 - Basics on Staging Your Home for Sale
There are a few simple guidelines for staging your house for a successful sale, and they needn’t be expensive or time consuming. First of all, you should solicit the help of your Realtor®. Their years of expertise in knowing what makes a house show well can help you gain the objectivity you need to promote your house.
And speaking of objectivity, you must now begin to see your home through the eyes of a buyer. When they look at your house, they are already trying to picture how to make it their own. So take a good look in every room to see what might detract a buyer from viewing your house in a positive light. What impression is your house making on prospective buyers?
The place to start is the front door. Make sure the door is clean or freshly painted. Does the doorbell work? Is the porch/steps swept and cleaned? While the buyer’s realtor is unlocking the door, the buyer has a lot of time to look at the entry and begin assessing the house.
In walking through the house, make sure that that there are no obstacles in your path such as furniture other impediments that you have to squeeze by. Remove a chair and store it somewhere if it frees access to the living room.
You want the house as light and bright as possible. Keep drapes and shades open and buy higher intensity light bulbs. Clean and dress up the windows.
Neutralize the house. If you paint use neutral and warm colors. Remove distracting and bold artwork and personal photos. Remember, you want the buyer to imagine themselves in the house.
Declutter! If the house is cluttered it appears smaller and will not show well. Remove clutter in closets, bookshelves, kitchen, bathroom vanities, living areas, laundry areas, children’s play areas, and the garage. If in doubt, store it, give it away, have a garage sale, recycle it. Donate items to the Salvation Army or other charity. The Tompkins County Recycling Center has an excellent booklet on a myriad of items that can be recycled. Contact Linnett Short at the recycling center for more information.
For more suggestions or help to get your home ready for show time, contact me!
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The Ithaca Area is a great place to live! This blog is designed to be a resource for buyers, sellers, homeowners, and those relocating to and from Ithaca and surrounding areas. Your comments are welcome! I would be delighted to help you with your real estate needs. Just contact me by phone (607 220-5416) or email (msnow@IthacaAreaHomes.com). And don�t forget to visit my website at www.IthacaAreaHomes.com.
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