First things first…..Stay with the same agent?  Really, do you really need to ask that question?  They failed to sell it the first time, what are they going to do differently this time.

OK, so you’re not using the same agent….how do you find a good one??

The great news is THEY WILL FIND YOU!!!  If your home failed to sell and expired then you know what I mean.  You will have a number of Realtors calling asking to list your home.  So, all you need to do is interview a few and pick the best fit. Here’s what to look for:

1. Aggressive marketing…..If they simply mailed you a letter and/or post card with no call, eliminate them…The truly great will call you, over and over again:)  That’s how you know you have an aggressive Marketer, which is what it takes to sell a home in this new sales environment.

2. Sales history…..What is their “average days on market”.  In other words, how quickly can they sell your home?  Ask what they have sold in the past 2-3 months and how quickly they sold.

3. References…..If they are selling homes quickly they will have raving fans!  Ask for references.

4. Guarantee’s?…. The best agents have performance guarantees because they are confident in their marketing arsenal.  Always ask for and get in writing, their guarantees

5. Communication Commitment…..Selling a home is like a marriage….there should be tons of communication.  The best contact you at least once a week….Ask for a communication commitment in writing.

6. All said be absolutely be sure YOUR GOALS ARE FIRST AND FOREMOST.  Your Real Estate Professional should ask numerous probing questions to uncover all your needs and goals….without asking the right questions, they will not know how to best negotiate on your behalf.

The average number of days on market here is over 90 days…..We at GarveySells.com average 21 Days:)

Dang it!  Were in the midst of a “buyers market”, the homes been on the market for 216 days……and as soon as your ready to place an offer a competing one comes in???  What are the odds?? 

Did your pricing strategy just change?  Two schools of thought…

1. Your price is your price is your price, so no change…competing offer means nothing to you….You see this a lot with investors who are not emotionally attached to the “property”

2. Start at the top- How bad would you feel if you did NOT get the home??  What’s the most you would pay for the home and still be happy?  The goal is a win-win. Meaning you and the seller are happy with the price.  So, take the “most you would be happy to pay” and place that offer.  Remember, you can not start low and work your way up…..it’s either win or loose….no negotiating with multiple offers…and DO NOT get EMOTIONALLY caught in the excitement of the “game”!!  It will cost you thousands! 

Place the offer.

If you win, congratulations…If you “loose” you did so knowing you would have been unhappy paying more anyhow.

And have fun!

As far as the future, we have no idea and we live and breath real estate. (sorry, no crystal ball here)

Ask the TV guys and the’ll tell you 5-8 years…and that’s just how long till it starts to get better, so if your waiting for the market to “get better” be patient, very, very, very patient!!!

And don’t start adding up all this payments you made 8 years from now and wonder why you lived an unhappy life in a home you disliked enough to think about selling it in the first place!

It’s always the right time to sell if you WANT to sell to improve your quality of life:-)

Happy selling!!

Ever ask yourself that question?  Or are you pre-occupied with how you can better your life, your financial well being? Or worse, are you “worried” about your bills, debt and health?  Can we ever better ourselves to the exclusion of others? Or, do we better ourselves by helping others?

I read that a small act of kindness has positive effect’s on all parties involved…did you get that……ALL parties, that means the “kindness doer” and the “receiver” both benefit!!  Now here’s the coolest part, anyone who witnesses the act ….is also positively impacted!!!  How cool is that?

Just think, you can change the lives of many people, including yours, simply by an act of kindness…

So, who’s life will you change today?

Do you have it when it comes down to choosing between your best interest and your clients? 

Do you have it when you “consult” your client to take the offer…or is it your best interest??

 Do you have it when you “consult” your client to close asap so you get paid quicker, or because it’s really in there best interest? 

Do you “negotiate” with integrity?  Even when it’s going to make the transaction “tougher” on you and the other agent? 

Do you do treat each client as you would want to be treated????? 

 Really?

Well Realtors are not doctors and they are not saving your life (or limbs) ; however; they are liquidating the most valuable asset (for most people) you own, or ever will own, for that matter.  Financial Surgery, if you will.

Now, there are three critical roles a Professional Realtor play’s.  First they are to be your consultant.  Second they are your negotiator and third, they are the overseer of the transactional details.  If you meet with a Realtor and are not hearing these things then maybe you are dealing with a “commodity” and may be justified in paying a lower commission.

However; when you are partnering with a high level professional Realtor, and you will know when you are,  you will quickly realize they are not a commodity and are worth every dollar you pay them……usually, just for their negotiating skills alone!

Here’s an example (and I’ll use numbers from The National Association of Realtors, not one’s I made up:))

We are told by NAR that for every 1% you shave off the agents commission you should expect to receive around 2.5% less for your house and have it sit on the market for an additional 30 days…..So, here’s how it shakes out:  If it’s a $250,000 house (that’s average here in New Castle County, Delaware) and you partner with a FULL SERVICE Professional Realtor, investing 6%, you should NET around $237,500 (that number only includes the Realtor Commission, not closing costs, taxes, etc)

 If, instead, you work with a Realtor who settles for a 5% commission you should expect to net around $231,250 and it’ll be on the market an extra 30 days …..that’s $6,350 less……AND you need to  make another mortgage payment (because of the extra 30 days it sits on the market)!!!!!

WHATS MORE IMPORTANT: THE COMMISSION….OR THE AMOUNT OF MONEY YOU PUT IN YOUR POCKET??????

That 1% you “saved” was $2,687.50 and it cost you $6,350 in the sale of your house….That’s $3,662.50 you lost!!!!!!! (Or, if your the savvy seller you Invested the 6% and you made $3,662.50 more!)

So, should you ask for a reduction in their commission???  ABSOLUTELY…and here’s why, let them weed themselves out. Listen to their response….if their quick to lower their commission a RED FLAG should go up…..and  you should be thinking “what will they do with the price of MY home when tough negotiations show up??” (and they WILL show up, especially in a buyer’s market, like we’re in now)

Don’t make this mistake…….

Happy Selling!

Who are the WINNERS?  Well in a word…..buyers.  However; SELLERS; can also win…and win BIG….let me explain.

With some very simple math we can see just how powerful this market can be in creating wealth….let’s say you own a home that’s valued at $200,000 and you’re thinking about selling it and buying you’re next, bigger and consequently more expensive home…Would you be crazy if you were excited about this market?  No!  And here’s why…this may very well be the best time you will EVER experience to buy you’re next home, ever….talk about a perfect housing “storm”! 

 Before I get too excited let me get back to the example..ok, $200,000 home and you’re to upgrade to a beautiful, spacious $450,000 home .  With this being a “bad” market and all, let’s say it’s down 15%….so the $200,000 home will only sell for $170,000, Ouch….And that’s where most sellers STOP….and that’s a very EXPENSIVE mistake, because the “pot of gold” is in the purchase (as a buyer) of that beautiful new home that WAS worth $450,000.

That $450,000 home can be bought (using the same math…15% reduction in price) for $382,500!  That’s a savings of $67,500….Sooo, what you have just done is created $37,500 ($67,000-$30,000) and you have the new, larger home. 

Timing is everything!!!  Sell now before the spring market hits…..why not wait??  Because you will have 2-3 times as much competition during the spring market and odds are, you’re home will be worth LESS!! (psst, you have about 3 weeks, so get crackin!!)

Moral of the story….focus on the WIN not the lose:-)

Happy selling!

They say you can’t sell homes in mere weeks in this “buyers” market….you certainly can’t sell a home for 96% of the asking price!!  Here’s why…the National Association of Realtors track these numbers and they say, in New Castle County, the average days on market is over 80 days!!!  They have also found that the average Realtor sells a home, on average, for merely 87.5% of the original price:(  Makes you think it’s a “bad” market, doesn’t it??

The agent you choose makes all the difference in the world…..

Here’s what I have seen in the past couple months….A town-home in New Castle…we followed our selling plan and had it sold for 96% of original asking price in 12 DAYS!!!!  But, Jeff, that can’t be done here…

A home in North Wilmington was on the market for 86 days with another agent, failed to sell…we picked it up, implemented our selling plan and sold it for 95% of original asking price in 13 DAYS!!!!  She’s now living her dream down in Florida!!! But, that can’t be done here…

A 1/2 million dollar condo in Wilmington was on the market for 667 days (almost 2 YEARS….ouch!!)….then we installed our selling plan and sold it for 94.4% of original asking price in JUST 3 DAYS!!!!  But still, you can’t do that here…

BEST ONE OF ALL…..home in Middletown had been on the market for over 605 days..(I could’nt make this up if I tried) with another agent and failed to sell…..we implemented our selling plan and had an offer accepted in 12 days!!!!  Again at 96% of original asking price….now they are finally able to retire to their home in the Poconos… But, still, you can NOT do that here!!!  What??

Here’s the thing….YOU CAN DO THAT HERE….. AND THERE……EVERYWHERE….and don’t let them tell you “it’s the market”!!

They look in the bedrooms, the bathrooms, the office, the library, the basement and garage…but don’t open that fridge….

They like to see new roofs, new a/c units, new heaters are cool too…as are hot water heaters:) and new electrical panels are really nice to see..washer and dryer..sweet, open those too…but don’t open that fridge:)

Nice yard, well groomed grass…check the glimmer in her eye when she see’s the garden…however; that fridge is not to be opened…

Enjoy the journey to home ownership!!

What’s that mean to potential sellers????  It means the buyers will have their day!!  They will have sooo many options that they will move from home to home placing low offers, and it rejected, move on to the next home and do the same thing-until they get the deal they want.  So, they price of your home may continue to go down as you languish on the sidelinesL

What to do?  If you are serious about selling, get your home Staged and on the market A.S.A.P!!  The sooner you get out there the better…..you have about 2-3 weeks….if your luck!

Happy Selling!!