Sales statistics .

How long to sell?How long do homes take to sell in your market?

    Most Multiple Listing services keep statistics about sales and the various offices of their members. Ask your realtor to show you their placing before you sign. If they won't share this with you, go elsewhere. They should be proud of their success - otherwise, they are probably hiding something from you. If I were outselling all of my competitors, I would tell the whole wide world!

   Do you know a top agent? If so, list with them.

 

A realtor's advice

While they don't always know "Staging", most realtors do know what sells

   Ask your realtor for their opinion of your home's curb appeal. Write down what they say and treat it as a checklist of things to be fixed immediately.

   Do the same with the interior of your home. Your realtor is the one person you can trust to give you the bad news! Ask them what you should fix. They see hundreds of homes and know what the competition looks like, so are well placed to give you some good pointers.

   Ask them about homes that have sold recently and find out what kind of people are buying in your area. Where have prices been going? Are they buing solely based upon price? What is the magic price?

 

 

Sold!

 

 

 

 

 

 

 

 

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Buy and Sell Real Estate Without Paying a Broker!

 

Should I use a realtor?

SHOULD YOU TURN OVER THIS IMPORTANT SALE TO AN AMATEUR?

real estate lady   I am not a realtor and like real estate agents about as much as I like lawyers - which means that they rank slightly above fish-bait in my book - but still...

   Unless you have the marketing muscle of the big agencies, it is worth the money to list with a professional - just don't expect them to help with things like staging and the other details you have read about on these pages..

  The top real estate agencies place full page advertisements in newspapers with photographs of homes for sale - these are the types of agencies that you should use. If the agency you are considering is not placing ads in newspapers, but simply listing homes on the Multiple Listing Service (MLS) RUN - do not walk - out of their office. Don't waste your time.

  • Don't use a realtor because he/she is a friend or friend of family - use one who can sell and works for the dominant firm in your market. They should advertise heavily and buy more ad space than the competition.
  • Don't use a realtor who does it part time, use one who has to live off of successful sales.
  • Do not leave selling your home to an amateur - YOU! Unless you have a track record of successfully selling dozens of homes, you are an amateur? Not an amateur? Then what are you doing reading this page?
  • Do not list your home with a realtor because their office is convenient to you - close to your work or home. List with one that can sell. One that advertises a lot. One that will generate traffic.

 

Open House

PUT A SIGN OUT FRONT AND ORGANIZE AN OPEN HOUSE

open houseWho cares if all your neighbors get to go tramping through your house? Sometimes they have a friend that is looking to buy and they will pass the information on. The more exposure you can get, the more likely it will be that you actually sell your home quickly and for a good price.

 

ENCOURAGE ALL OFFERS

If your market is experiencing a sharp decline in property values, don't be afraid to encourage people to make 'low' offers. Remember, prices are probably going to a historical average over time, and that will be about 15 times the price of a year's rental of your property. OUCH! If you get more than that, you are doing okay.

 

15 TIMES THE ANNUAL RENT?!

The historical P/E Ratio (Price/Earnings) for real property has been around 15-17 for most markets in the USA. That is, if your property rents for (or would rent for) $1,000.00 per month, that is $12,000/year X 15 = $180,000.00. Whether you like hearing this or not, that is probably the price your property will go for when the market finally hits bottom.

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Finding a realtor

   It's a good idea to use a realtor at a top agency, ideally a top agent too! The best way to find the top agent is in the newspaper - see who has the most advertisements out there. A good real estate agency would not throw away advertising dollars on a lousy agent.

   You will want to use an agency with a good advertising budget, not some low-rent, struggling firm that cannot afford to advertise your home. Look through your local papers for a realtor with splashy ads that get your attention.

   Don't give this important job to an amateur because he or she is a friend - find a high profile professional who is working in a leading agency - one who really knows how to sell!

 


Should you enlist the help of a realtor to sell your home?

Some people get lucky and manage to save the commission and sell their homes themselves. You may be lucky, or you may be an expert sales person with a natural knack for marketing property. Do you have the time to find out? If so, then go for it. Most people are not real estate professionals and do not have an ad budget nor do they have access to the Multiple Listing Service (MLS) which all realtors subscribe to. Multiple Listing Services share listings among all realtors in a given region and expand your offering to the wider market.

Home Prices Slide

Home Prices on the Decline

After increasing every month for the last 15 years, home prices have begun to decline in 2007. The ten city average shown below includes cities in Florida and California, where the decline has been even more extreme.

BELOW:
Percent increase in average home sale price over previous 12 months by month

Home prices slide
Source: Standard & Poor's