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Category Archives: business of real estate
Scalability…
- Saturday, 28 June 2008 23:34
- Written by Lane Bailey
- 0 Comments
If you are a regular reader here, you know how I tweaked out a listing using a load of current technology. And I am quick to admit that this has been an expensive process. but, for a listing that is close to $1m, I think it is a worthwhile investment. But, most homes on the market aren’t in that market.
But I still think that they deserve a higher level of exposure than they are currently getting.
So, today I negotiated a completely different type of property. We will be utilizing some of the technologies that we brought out for 9010 Brixham Court, but doing in a way that is more applicable to a property that is affordable to most people.
Obviously, I’m not ready to roll it out in front of everyone… but I hope to have it ready to introduce late next week.
Is your home a Showhome?
- Friday, 27 June 2008 22:57
- Written by Lane Bailey
- 3 Comments
Today was an interesting day.
Randy Travis of Fox5 here in Atlanta was on location on one of my listings, 9010 Brixham Court in Suwanee, shooting some video for a story about a vacant home staging service. The home in question has a property manager from Showhomes of Atlanta. There isn’t a problem with this home.
But, apparently that isn’t always the case. Another company didn’t deliver what the promised. And now the home owner is getting headaches and spending money instead of avoiding headaches and saving money.
Look for the story in July. Of course, as soon as I know when the story will air, I will post up about it.
From the comments that were made at the house, the crew from Fox5 was pretty impressed with the house. The furnishings were immaculate, and well-suited to a listing bordering on $1m. The Home Manager team keeps the home immaculate and ready to show all of the time.
For vacant homes, it is a great way to stage and keep the home lived in. Vacant homes seem to have more problems.
And if you want a couple of pretty acres suitable for building up near Ellijay… with a spring… I might be able to get you a good deal. And those things are TOTALLY unrelated.
Not into the mailbag… Buyers…
- Wednesday, 25 June 2008 07:47
- Written by Lane Bailey
- 0 Comments
I did a series of posts on questions that I get on a regular basis (or interesting enough that they make an impression by getting asked just once). This isn’t one of those. This is the question that most consumers don’t know to ask… and this is part two.
Shouldn’t we just offer X% of the listing price?
Fill in a number… it doesn’t matter. And the answer is NO. The listing price may or may not be based in reality. But, here is the thing… the sellers have an emotional investment in the listing price… generally. And if the house is over-priced, the chances are that even if they were thinking of “negotiating room” they started to think that their home was worth that price. Of course, there are times when they might be frustrated and may sell for 75%, or whatever…
But the bottom line is that the listing price reflects nothing more than one person’s opinion of value (or a few… same difference). Some homes are great deals at the list price. Others are a fools game at half of the price. But, the crucial difference is that in the case of a fairly priced home, the seller is generally easier to deal with and won’t cry about how they are being taken advantage of at every turn. The “heavily discounted” seller will often put up roadblocks at each opportunity.
Simply put, concentrate on homes that are appropriately priced. Base offers on reality, and stop thinking that real estate is a Wal-Mart clearance sale. The basic fact is that in Gwinnett County, right now… homes are averaging above 95% of listing price. And only the homes that are priced right are selling.
Not into the mailbag… Sellers…
- Tuesday, 24 June 2008 23:38
- Written by Lane Bailey
- 0 Comments
I did a series of posts on questions that I get on a regular basis (or interesting enough that they make an impression by getting asked just once). This isn’t one of those. This is the question that most consumers don’t know to ask… and it comes in two parts.
Can’t we push the price up some for a little negotiating room?
You can try. But that doesn’t mean it is going to work. So far this year there have been about 4 homes come on the market for each home that has sold. That means that the competition for the sale is fierce. To boil it down to the base, homes that have “a little negotiating room” aren’t getting shown… and so they don’t get offers to negotiate. There are more than 10,000 Single Family Residences on the market right now. In almost every price range, location and criteria set, there are a pile of homes for buyers to choose from. When they are parring the list, the over-priced homes get cut.
That doesn’t mean it is hunky-dory…
And I will be hitting that tomorrow. Buyers also need to be realistic when it comes to offer time.