Ten Questions Every Homeowner/Future Homeowner Should Ask An Agent

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As you embark upon what will be one of the most important transactions of your life – whether buying or selling a home – you should be absolutely certain that you are happy with the real estate agent you have hired to help you manage it. 

To help you with this all-important hiring process, here are ten important questions to ask an agent before you decide on whether or not to hire them:

Question #1
How Close Do You Get in Sale Price Related to Asking Price?

It is important to ask for this information as it relates to the past 60 days.  Given that many agents are not that active in the market, you would be best served to obtain the most recent information possible.  As a seller, your agent’s ability to come close to the asking price is a strong attribute and can mean a difference of thousands of dollars in your transaction.

Question #2
How Many Days on Average Does It Take You To Sell a Home?

What’s the average number of days on the market for properties listed by your prospective agent? Since this statistic can reach as high as six to nine months and in some cases and as much as a year, it is important to ask how your prospective agent ranks on the scale.

Question #3
What is the Rate of Homes Sold on a Monthly Basis?

Knowing the absorption rate of homes similar to yours that are on the market allows valuable insight as to how the market is performing for your particular needs.  Not only does it give sellers a glimpse into the system and how it would translate to their own sale but it also presents a broader view of the entire market in general.

Question #4
What Do You Do Differently To Get Homes Sold?

Especially with the current trying economic times, many agents have been faced with adversities trying to sell the homes on their list.  One of the best ways to learn whether your agent is a self-starter is to find out what they have done in the past when they were unable to successfully sell homes.  Ask why the agent feels the home(s) did not sell and then find out what they are doing differently to get them sold.

Question #5
What Percentage of Deals Do You Represent the Buyer Versus Seller?

Some agents work primarily with sellers while others work mostly with buyers and still others are experienced with dual-agency deals.  Depending on your needs, you will benefit from an agent that specializes in one of the two.  It is important to ask which side of the fence your prospective agent tends to represent. 

Questions #6
How Many Homes Did You Sell Last Year?

Nothing speaks louder than numbers.  A very important statistic, ask what the total number of homes sold last year was and if possible try to get a more long-term picture of the agent’s performance in this regard. You can also ask for a month-to-month breakdown to see if there are certain stronger months.

Questions #7
Can You Provide a List of the Ten Most Current Clients You Have Worked With?

Rather than rely on the given list of referrals that many agents have handpicked, it’s a good idea to obtain a list of clients that are currently working with this Realtor.  It will provide a much-needed glimpse into the agent’s performance on various stages of real estate transactions.

Question #8
How Much of Your Work Day Do You Dedicate to the Real Estate Industry?

You want an agent that is 100% committed to their  job and if they are focusing more on a day job with real estate being a secondary thing, you run the risk of inaccessibility, lack of knowledge and experience plus lackluster motivation.  Find out how they feel about the real estate industry and whether they are passionate about their work.

Question #9
What is Your Style of Marketing – Proactive or Reactive?

What is your potential agent’s style of working?  Does he or she speak to a large number of people each day? Are they proactive or reactive in nature when it comes to marketing? See how this lines up with your real estate needs.  Are you in a hurry to buy or sell?  Does a laid back agent hinder your efforts? Or does slow and steady work better for you?

Question #10
What Does Your Daily Schedule Look Like?

The typical schedule of a real estate professional can be very telling.  By asking for a copy or general idea of how they conduct their day in terms of their work, you can get a good idea of how much time is devoted to the profession and what kind of business they are running.

Top Mistakes Homeowners Make In Determining the Value of Their Home

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No one wants their home to be on the market for months while generating no interest from buyers.  If you have a home that just won’t sell, do you know the reason?  One of the most prevalent reasons for a home not selling is that it has been overpriced according to its value and the surrounding market.  How do most homeowners arrive at their listing sale price?  Unfortunately, so many sellers use less than reliable methods of deciding the list price and as a result, they end up wasting time without selling their home at all.

Here are the six things that inexperienced sellers use to gauge their selling price, plus a list that explains what you can do to make sure your home is priced perfectly to sell.

What Not To Consider When Determining the Value of Your Home

THE AMOUNT PAID TO PURCHASE THE HOME

Just because you might have paid a certain amount for the home does not have anything to do with the current market value of the home.  Many homeowners falsely believe they will be able to recover the same amount (or more) as they paid initially, regardless of how the market and economy is performing today.

THE MINIMUM PRICE SELLERS NEED

In a market clearly controlled by buyers when sellers do list their home it is often because they cannot avoid it.  Either relocating for a job, no longer able to afford the house or they need the money and plan to use the equity of the home. Often sellers feel that they can set their price according to their need rather than what the current real estate market dictates.

WHAT HOMEOWNERS WANT

Everyone wants to get the maximum amount possible when they sell their home.  Many times homeowners self-evaluate the home’s value based on what they see as years of upgrades, maintenance and care.

HEARSAY FROM NEIGHBORS

When others in the same neighborhood talk about the value of their homes, they too are often misguided in how they came to the value.  Still it is common for homeowners to want to believe that if the neighbors’ home is valued at a certain level, theirs should be too.

THE COST OF REBUILDING IN TODAY’S MARKET

Inflation is a factor affecting how a home is maintained over the years after purchased.  This does not, however, carry over to the home’s value.  Often sellers try to incorporate the inflated cost of rebuilding in today’s market – a formula that simply doesn’t work.

THE HOME’S VALUE ACCORDING TO ANOTHER AGENT

There is no shortage of agents and when they are competing with each other one thing that can and does occur is false claims of yielding a much higher sale price on a home.  Though it may seem attractive at first, the result is often an unsold home that rarely receives any offers.

How To Price Your Property Perfectly to Sell

EXAMINE COMPARABLE SALES

The best way to determine the price of a home is to evaluate comparable properties in the same area.  Not only does this include location, lot size, property type and square footage, but a Comparative Market Analysis also looks at amenities in the home, types of flooring or other structural aspects as well as the amount of remodeling or renovation that may have been done on the home.

HAVE A PROFESSIONAL APPRAISAL DONE ON THE PROPERTY

Prior to approving a mortgage many lenders require an appraisal performed on the home. A great selling strategy is to order an appraisal independent of the buyer’s requirement for a lender.  Not only does this provide valuable insight as to what the maximum valuation of the home will be per the lender but it also allows the sellers to corroborate the price with potential buyers.

EVALUATE OFFERS RECEIVED ON THE PROPERTY

If the home is already on the market, one way to consider whether you have overpriced the home is to take a closer look at any offers that have been made on the property.  Do they align with the current fair market value?  Are other similar homes in the neighborhood also selling within the same price range? It is important to answer these questions to find out whether buyers perceive your list price as realistic or over the top.

HIRE AN AGENT WITH A PROVEN TRACK RECORD

Qualified, experienced agents are paramount to helping you determine the right price to set when selling your home.  If you choose a Realtor that is well versed in the area and specializes in the vicinity where you are located they will be able to assess your price range based on other like kind property sales through CMAs.  Through direct experience, their knowledge and insight almost always results in accuracy and in turn, quick results.

When a Property Shows Well, It Sells Well – Tips on Staging the Perfect Home

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If you are in the market to buy or sell a home, chances are you spend some time watching HGTV reruns of House Hunters.  Ever notice the look on prospective buyers’ faces as they walk through the really dumpy properties?  The fact is that so many people neglect to prepare their properties before showing it to potential buyers.  Overstuffed closets, stained carpets, dirty bathrooms, dull kitchens and family rooms with so much junk scattered all over the place that the buyers can barely see the space – all these things are a huge hindrance to selling successfully.

This week we just listed a home for one of our clients and the way they set up their space is perfect.  As you can see in the video, the homeowners have taken the time to arrange furniture in a way that highlights the home’s gorgeous features and open floor plan.  Plenty of tasteful accessories have been used to dot the space with color, interest and life.  There are even some touches of their personal life, though not overdone by any means.

The key to preparing a show-ready home is to put yourself in the buyers’ eyes.  Going back to House Hunters episodes – how many times did buyers’ eyes light up when they walked into an open, well-lit home that was obviously cared for by its owners?  And if you pay attention, you’ll notice that more often than not, the homes that don’t seem to cared for by their owners are usually the ones that get passed up.

Tips on How to Make Sure Your Property Shows Well

MAKE SURE THE HOME IS CLEAN

Nothing turns off buyers more than a home that is dirty.  As they walk through the house they are imagining living there but dirty bathrooms, unclean windows, or unkempt rooms are unattractive.  Rather than risk buyers only remember that aspect of your home, make sure you clean the space, have carpets professionally steam cleaned, power wash windows, clear up driveways and make the home presentable.

REMOVE ALL CLUTTER

Clutter acts as an obstacle that does not allow buyers to see the actual features of your home.  If possible, box up things like extra shoes, overflowing closets, unkempt toys or messy areas on the home.  Keeping the space clear of clutter will not only make the space inviting, it will also allow the prospective owners to imagine their own things in the space.  A common turnoff that many sellers neglect to take care of before showing their home is a fridge filled with personal notes, pictures, schedules and other traces of the current family’s life.

EMPHASIZE POSITIVE ASPECTS

If your home’s best feature is the great room, be sure to emphasize it by lighting it well and clearing all to and from areas for easy flow through access.  If the large backyard is a favorite selling feature, remove all leaves and landscaping clutter.  It is important not to ignore maintenance details such as mowing the lawn or tidying up the hedges.

DEMONSTRATE PRACTICAL USE OF SPACE

How you set up your home will have a major impact on how it is received.  By setting up the furniture and arranging other items in a way that highlights the desirable aspects of your home while working with the space encompassing the area, buyers will want to see more.
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Imagine your home is going to be photographed for a magazine.  What would you do prepare before the photographer arrived?

* Editor's note from 1/27/2012 - This property went under contract in two weeks.

Naples Area Sales Continue to Increase and More of the Same Expected in 2012!

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We have been reporting good news for some time now and as we come to you today, it’s no different. As we transition into the new season for real estate and at the same time a New Year – it is both promising and unsurprising to see that for some time now sales have been on the rise.

Looking at the numbers that came in for 2011, we see an increase in sales across the board, with as much as a third more units sold than the previous year in some price points. Most notable, was the increase in 2011 as compared to 2010 within the homes in the range of $3 to $5 million, with a 34% jump in sales from one year to the next. And with the exception of properties that sold for over $5 million, we witnessed an increase in sales in every price category in 2011 as compared to 2010.

The Chief Economists of both the National Association of Realtors and the Florida Association of Realtors have pegged our area as one that will continue to see a major improvement in sales. Very exciting news! When we see this happening, we know that price increases are on the horizon. Also, with this positive change we can expect to experience a rise in home values as home appreciation finally seems to be within reach after several years of instability.

Moving ahead into 2012, we are hopeful and confident that sales will continue to rise throughout the year – leaving a significant opportunity for our market to bounce back to where it once was just a few seemingly sort years ago. And in terms of sales, if 2011’s 6% increase over 2010 is any indication of direction our market is headed, we can be sure that Southwest Florida is definitely on the way to the top real estate producing regions again. Buyers will continue to have strong buying power with the incredible interest rates that we project will remain for at least the first half of 2012, if not the entire year. And as increasing sales numbers persist, inventory will level off even more – yet another reason for prices to rise as our local real estate industry stabilizes.
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If you are considering buying, selling or even just exploring properties – we look forward to the opportunity to serve your needs for any and all real estate endeavors.

For Graphs on the Market in Naples Click Here! >>

For the Data Sources Click Here >>

Happy New Year!

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From our family to yours Happy New Year 2012!  As we reflect on 2011 the word that comes to mind is gratitude.  We are grateful for you! Our family, friends, and customers alike, all who have enriched our lives.  We want to thank all of the families who trusted in us and we were able to help meet their real estate needs.  We look forward to the future to continued success and we thank you for being a part of our family. We hope you have a great 2012!

Real Estate Auction January 14th at 11:00am. 2712 Buckthorn Way, Naples, FL

Eight Tips To Get Your Home Sold Quickly

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Getting your home sold quickly is important for many different reasons. One of the reasons why you want to sell your home quickly is because it will generally sell for much more money when it first goes on the market than it will months later.  Obviously, the longer a home sits on the market, the more buyers start to assume something's wrong with it.  These eight tips will help you get your home in tip top shape so that buyers will want to make an offer quickly.

First, make sure to clear out the clutter.  Buyers need to picture themselves in your home with their own things.  When you have all of your personal possessions lying around, it's hard for some buyers to imagine themselves living in the home.  Since you're moving anyway, go ahead and start packing things up so that you can clear out spaces.  When you have clear spaces, such as rooms and countertops, it gives the appearance of a larger home.

Next, make sure to clean your house from top to bottom.  It really needs to be spotless.  Consider hiring professionals to come through and do a massive cleanup.  You want to clean the windows, scrub the front door and even wash the light switches.

Next, it's important to get your house in tip top shape.  If you have a long “honey do” list, go ahead and get a jump on doing those items.  We all have a long list of home maintenance items that need to be done, but it's especially important when you have your home up for sale.

The fourth step is to clean up your garden, trim your shrubs and mow your lawn.  Remember that first impressions are lasting impressions.  You only get one chance to make a good first impression, so make sure that the exterior of your home looks as good as the interior.

Our fifth step is that you don't want to forget all those storage spaces that you have in your home either.  Clean out your garage, attic and other storage areas so that people can really see how much space they will have to store their own things.

On number six, you want to make sure that you hire the right agent for the job.  Always choose someone who can show you a proven track record.  It's vitally important to have an experienced agent who knows how to navigate today's unique marketplace.

Our seventh tip is to identify your future buyer.  Look at the reasons why you chose your home and realize that other buyers will likely choose your home for the same reasons.  This lets you know the need to make special efforts to highlight those areas when you're selling your home.

Finally, it's important that you don't get greedy when trying to sell a property.  Let me tell you a quick story.  I once had a home for sale and got the sellers a great offer quickly.  They were concerned that the home was selling too fast and might be underpriced, so they didn't take the offer.  Now, let's fast-forward to this current real estate market that's not doing so well.  The house is still on the market for sale, but now it's worth 20% less than it was back then.

We would love to assist you with your next home purchase or home sale, so please give us a call today!