Unfortunately for sellers, they are still in that mode of selling and getting that big 25% return we were all getting the last 3-4 years, I ...as well buy property and sell, rent or flip, so I can relate to their disappointment.
But because of rising property taxes and ridiculous reasons insurance companies just drop homeowners like a hot potato, the prices are starting to level off, not necessarily dropping, they were just used to the crazy returns, now in a regular market I believe 5-8% return is going to be more realistic for the moment.
I cannot tell you how many price reductions I see in the MLS , wasting time is the new meaning for most price reductions, I tell my clients , we will keep reducing until the market reacts, or if they continue to insist to price too high, then reductions will continue.
If the law for property taxes does not change soon ,and these insurance companies trying to strong arm people by dropping you and then being subject to only one company. If this doesn't soon change, HO's will slowly take their houses off the market and wait if they are not in a rush to sell.
If that happens, the inventory will decrease and maybe change back to a sellers market, I do not believe we are in a buyers market because there aren't a lot of buyers out there.
I think someone in the government really needs to hear from both the Realtors®....sellers and buyers, because it will effect everyone in the long run
Showing posts with label list your property for sale. Show all posts
Showing posts with label list your property for sale. Show all posts
Thursday, October 11, 2007
To list...or not to list..that is the question!
My question is do you list at an unrealistic price. Sellers should determine if they want to own their home or sell their home.
There are plenty of Realtors® that just take the listing because they need inventory and do not care that they are just adding fule to this already out of control fire.
I do not know how many appointments I have recently been on regarding listings that want to hire another realtor because they just cannot figure out why their home is not getting offers after 6 months of only maybe 12 showings in that period.
So.... on one appointment I went on recently, I came across one of what I call "Those Retreads".
I am firing my current Realtor® and want to interview you and 3 others to find out what you will do different than them to sell my house.
First thing I needed to find out was what went wrong and what is their view and their objective and motivation.
So I was told they hired a customer intheir industry and they were told by that Realtor® that we have a list a mile long of qualified buyers looking to buy your home, well they claimed to have seen this list but they all of a sudden it disappeared after they listed with them "I wonder what training class they took?" do we think maybe the same one everyone is taught just to get the listing? The second thing was I asked them why they were reduced 3 times and where did they come up with the price in the first place, finally came the best part, they were only offering X% to buyers agents.
So my plan was to be honest and told them that even though they claimed to have had the best lake view and the best pool in the neighborhood, the problem was the house was in dire need of interior paint, the house was filthy and needed to be cleaned properly ,the price was about XK too high and of course the commission was too low, they wouldn't budge, so I told them at x% they were not helping matters, so i offered to take 2 and offer x-x% to the outside agent just to get it sold, they felt 4% was enough and they would not budge on the price, so i told them to call me when they felt they were more motivated and I would be willing to pay at least x% considering agents are now getting x-x% and that there market was flooded with plenty of they same.
I didn't get that one....but funny as it may seems, after they refused to paint, reduce to a realistic price and that they didn't need to sell and they could carry it as long as need be and of course the commission was too high, they ended up taking my advice and listed it for exactly what I said it should be and they even offered out 3% to the selling agent, even though I didn't get it, the husband was a jerk and it probably will sell but I am kind of glad I didn't give into their story, even though they were just full of it anyway, so my conscience is clear and it was time just to move onto someone serious enough to sell at realistic goals.
Believe me... I buy property and I am the first to want to sell high and get as much from the sale, but in this market the 25% returns are a thing of the past...at least for now we will see many expired.
Sellers end up just taking them off the market totally until the prices rise or the market changes, well unfortunately I think it might be quiet some time before we see what we saw for the last 4 yrs again.
So when you list I think we really need to see how desperate we are to take them, the question is...is it better to have 30 that do not sell and you waste all the advertising costs to let them expire and not list with you... or have 10 somewhat quality ones that will sell and we do not lose our shirts just for the ego trip of saying you have 30,but not telling your co-workers they all expire or hope they do not!
There are plenty of Realtors® that just take the listing because they need inventory and do not care that they are just adding fule to this already out of control fire.
I do not know how many appointments I have recently been on regarding listings that want to hire another realtor because they just cannot figure out why their home is not getting offers after 6 months of only maybe 12 showings in that period.
So.... on one appointment I went on recently, I came across one of what I call "Those Retreads".
I am firing my current Realtor® and want to interview you and 3 others to find out what you will do different than them to sell my house.
First thing I needed to find out was what went wrong and what is their view and their objective and motivation.
So I was told they hired a customer intheir industry and they were told by that Realtor® that we have a list a mile long of qualified buyers looking to buy your home, well they claimed to have seen this list but they all of a sudden it disappeared after they listed with them "I wonder what training class they took?" do we think maybe the same one everyone is taught just to get the listing? The second thing was I asked them why they were reduced 3 times and where did they come up with the price in the first place, finally came the best part, they were only offering X% to buyers agents.
So my plan was to be honest and told them that even though they claimed to have had the best lake view and the best pool in the neighborhood, the problem was the house was in dire need of interior paint, the house was filthy and needed to be cleaned properly ,the price was about XK too high and of course the commission was too low, they wouldn't budge, so I told them at x% they were not helping matters, so i offered to take 2 and offer x-x% to the outside agent just to get it sold, they felt 4% was enough and they would not budge on the price, so i told them to call me when they felt they were more motivated and I would be willing to pay at least x% considering agents are now getting x-x% and that there market was flooded with plenty of they same.
I didn't get that one....but funny as it may seems, after they refused to paint, reduce to a realistic price and that they didn't need to sell and they could carry it as long as need be and of course the commission was too high, they ended up taking my advice and listed it for exactly what I said it should be and they even offered out 3% to the selling agent, even though I didn't get it, the husband was a jerk and it probably will sell but I am kind of glad I didn't give into their story, even though they were just full of it anyway, so my conscience is clear and it was time just to move onto someone serious enough to sell at realistic goals.
Believe me... I buy property and I am the first to want to sell high and get as much from the sale, but in this market the 25% returns are a thing of the past...at least for now we will see many expired.
Sellers end up just taking them off the market totally until the prices rise or the market changes, well unfortunately I think it might be quiet some time before we see what we saw for the last 4 yrs again.
So when you list I think we really need to see how desperate we are to take them, the question is...is it better to have 30 that do not sell and you waste all the advertising costs to let them expire and not list with you... or have 10 somewhat quality ones that will sell and we do not lose our shirts just for the ego trip of saying you have 30,but not telling your co-workers they all expire or hope they do not!
Monday, September 3, 2007
Weston Florida Real Estate (I'm feeling kind of sexy today
I have been working pretty hard the last few weeks. The Weston Florida Real Estate market has picked up a bit lately. I woke up this morning feeling kind of sexy today....well ok maybe I didn't feel that way but my listings felt kind of sexy. Come on! We also closed on 3 deals last week so I can't complain...."can't someone compliment me on looking and feeling sexy as well?" It figures.....it's all about the money. I personally showed 3 of our listings at the last minute. It was Saturday and the start of the labor day weekend.....basically the last real 3 day weekend for a while and most people were enjoying themselves. The last thing they probably expected was to have people track through their homes. Believe it or not...all the properties were clean and ready for showing..."that's what I call a real sexy home."
The point I am trying to make is when you list a property for sale in this market you need your Realtor® to point you in the right direction when it comes to getting as much exposure as you can get for your property. It is not just about advertising but about the overall appearance as well. The biggest mistakes I see is when we notify the seller that there will be someone coming by to see the property and they get so excited and then the other party walks into a mess or the A/C is not on when it is 95 degrees out and then there is the never ending dust bowl.
It is true people have to live their lives and do not always have time to clean up or even stage the home. When I get calls asking me when the first showing will be I have to be on my toes so I can give them some sort of educated answer. But if the homeowner is not ready.... well then they have to go on with the show the way it is. You need to remember that when your home is on the market....it is also on stage waiting for the curtain to go up and then......You are on and you better hit your mark. And if you are not ready and do not know all your lines you might just be boo'd off the stage. As your Realtor® it is my job to help you make sure the property is always ready to show. Don't forget that your critics are just waiting to see your performance. This market is very unpredictable and anything can happen.
For more information about Weston Florida Real Estate please check out the rest of the story at The Real Deal Tells it like it is in Real Estate
Neal "The Real Deal" Bloom
Weston Florida Realtor (954)608-5556 or nealb63@myacc.net
RE/MAX Hometown
2500 Weston Road ,Suite 103
Weston Florida 33331
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