Spartanburg, SC

Two Irishmen were sitting in a four engine plane flying back from a shopping trip to Paris when the captains voice came over the loudspeaker. "Ladies and Gentlemen, one of the engines appears to have failed. There's nothing to worry about but we will be 15 minutes late in landing at Gatwick."

Five minutes later he said, "Nothing to worry about, ladies and Gentlemen, but one of the other engines has failed, and we will now be an hour late."

A moment later, "Er...sorry about this ladies and gentlemen, but the third engine has also given up the ghost and we will now be two hours later than expected."

One of the Irishmen tapped his friend on the shoulder. "Good heavens, Patrick, do you realize that if the other engine fails, we'll be here all night?"

Tonight we're having our bi-monthly Thank You Tuesday. We invite agents (from all companies)that we've had transactions with in the past (or hope to in the future) for some appetizers and a drink to "say thank you for all you do to make the real estate transaction a success and for bringing the standards of our Industry to the highest level of Professionalism." It's been a great success in the past and it's really nice to be able to share ideas and experiences in a relaxed environment.

My interruption of the 60 MINUTE interview with FED Chairman Bernake is that the recession will be over by the end of the year and we will see a strong economy in 2010 with sustained growth for the future. Does this mean we've hit bottom?

He points the finger of failure to the financial markets that took huge risks in lending money to people who were not credit worthy and investors purchasing these securities in the Sub-Prime market. I don't believe anyone would dispute that the lack of regulation and the practices of these companies is at the core of the problem and better regulation and supervision is needed. However, is it possible we are going too far in the other extreme?

There are many "credit worthy" people who are turned away from lending institutions. These are not only home purchasers, but entrepreneurs who have taken risks and help drive this economy including the small home builders.

Fear has been driving the stake deeper into the heart of the economy. As much as I believe the views of Chairman Bernake, we need to do more to remove this stake and give Americans hope. That begins with getting the cash from the banks flowing into the local economies.

According to the National Association of Realotrs and Baylor University School of Business the 2008 Survey of Buyers and Sellers revealed the following traits that consumers look for when:

Choosing a Realtor:

Buyers and Sellers chose their Realtor® based on

•· Honesty and trustworthiness

•· Reputation (referrals)

•· Friend, relative or neighbor

•· Knowledge, caring and good listener

•· Only 4% were chose because of their company affiliation

Seller Services:

Why Sellers used a Realtor®

•· Establishing Fair Market Value

•· Internet Marketing Capabilities

•· Handling Contracts

•· Positioning the home in competitive markets

•· Negotiations

•· Contract to Closing (inspections and repairs)

Attracting Buyers for Listings:

Where Buyers Found the Home they Purchased

•· 34% from Real Estate Agent

•· 32% Internet

•· 15% Yard Signs

•· 7% Friend, relative or neighbor

•· Less than 1% from Home Books and Magazines

Where Realtors Meet Buyers

•· Referrals

•· "800" number information systems

•· Repeat Business

•· Open House

•· Internet sites

•· Direct Mail, Printed Advertising and TV ads account for less than 2%

So based on these statistics I think we all have to step back and take a look at not only what we are doing but how we are doing it. It's always a good practice to reevaluate how you conduct your business to see how you really stack up!

Although the Upstate (of South Carolina) has not been exposed to the same fate as many other parts of the country, we are in a Buyer's Market. There's a surplus of new and existing homes and there are fewer potential purchasers for the homes that are available. It is indeed a great time to purchase.

Unlike a Seller's Market, with low inventories and lots of potential buyers, you have to do more than place a sign in the front yard. You have to properly position your home based on the competitive offerings with the right price and the right product.

For the sellers, they face a challenge in positioning their home in order to get it sold in the shortest amount of time and at a fair market value. Most home owners don't understand that they must get their home "Pristine" both inside and out and "De-Personalize" it. Yes, price, location and condition are also very important factors, but in today's market you must do more!

Get it Ready to Show:

•· Light Fixture and Plumbing hardware can take years off the age of your home.

•· Fresh Paint can brighten your home, but be careful of the colors you use.

•· Clean, Clean, Clean! In order to make the home appealing and don't forget those pet odors.

•· De-clutter. "Clutter Eats Equity", so box up items that take away from space and neatness.

•· De-personalize. That's right; remove family photographs and your bowling trophies. Even some of your furniture and accessories may turn off potential purchasers. The items that make you feel like it's your home, take away from the potential buyers ability to see the home as "their next home".

Be Careful of Upgrades and Additions:

•· They may add appeal, but you may find you get 70% or less of your investment back when you sell the home.

•· Energy Efficient additions have a good return on investment. New Efficient HVAC and Appliances along with new windows are among some of the better investments.

•· Upgrading kitchen counter tops can also be a winner. However, you should know what the competitive properties are offering before making these upgrades as you can over or under do based on these comparables.

Our Recommendations:

•· Consult an experienced Realtor. They can guide you through the process and provide you with expert advice as to positioning your home among the competitive offerings.

•· Consult a Home Stager. Most consultations are less than $150 and you get a complete written report of recommendations. If you require other services they will be billed separately. However, many of their recommendations you can do yourself.

•· Consult a professional landscape designer. Curb appeal is extremely important for those who drive by and especially for those who view your home on the internet. Internet shopping is used by 87% of home buyers and if the photograph of the exterior is not appealing they will go to the next home without even looking at photos of your interior. Again, many of their suggestions you can do yourself.

Statistics show that if you do the right things you will be rewarded. You will sell your home much quicker and will receive the highest competitive price.