Gail Spada, PA, GRI, ePRO, AWHD, SFR

Sellers and buyers: Less social media means more

Posted on June 1, 2011 by Gail Spada

Imagine this scenario: You've listed your home for sale and as your REALTOR® is showing it, you mention, with a tone of disappointment, how long it has been on the market. In the course of casual conversation you also share that your spouse has accepted a job in another state and, even though you're looking forward to the move, you're a little worried about the timing.

After your REALTOR® pulls you into another room and puts duct tape on your mouth, you realize it probably wasn't a good idea to let your prospective buyer know you are so anxious to make a sale because now, in all likelihood, they will factor that perceived desperation into a too-low offer.

Most folks probably would not offer that much insight into their personal circumstances in a face-to-face conversation. Yet, some sellers - and buyers, too - are carelessly posting information on social media platforms, like Facebook and Twitter, that could undermine their negotiating strategies.

Just as sellers and buyers are advised to observe the silence-is-golden rule during showings, that restraint should extend to online communications. In fact, it is even more important to be tight-lipped in the virtual world, where anyone with rudimentary research skills can access up-to-date personal information about almost anyone else.

A seller must assume that an interested buyer is going to research not just the property, but the property owner. (They probably will do the same for real estate agents and vice versa.) They will Google your name and seek you out on Facebook, LinkedIn, Digg and, if they are under 35 years old, almost certainly Twitter.

Let's assume that sellers and buyers will know better than to post details about a proposed transaction, such as an offer or counter-offer, or specifics about financing. Maturity and a preference for privacy would dictate the common sense not to be so direct.

But it's the subtle, seemingly innocuous, social media posts that can provide "the other side" with information they might use to put you at a disadvantage.

Need examples? Check out these:

• A seller updates his unemployment history on LinkedIn to reflect that she has a new job in another location. (Or, worse yet, changed the status to "looking/available.")

• A seller Tweets "My agent just told me Buyer X loves my house. At last, a serious prospect!"

• A buyer posts on his Facebook wall that his offer on a new home has been accepted. Then he goes on to say, as an afterthought to his friends, "I can't wait until my house sells and I can get out of this neighborhood."

• A buyer likes your house and is formulating a bid. He visits Facebook and sees the seller recently changed his personal status to "divorced." A quick check of public records confirms you are in transition.

Get the idea? In each example, the buyer/seller has provided the other with personal information or opinions that could affect how offers are made or received. And even if it doesn't skew negotiations immediately, it might become an unnecessary distraction later.

Once these words are out there, they can't be taken back. Privacy settings on the social media platforms can help, but they are confusing and they certainly carry no guarantee. The Internet has made the world much smaller, and friends have friends who have friends.

The really good news, of course, is that social media and other online databases also are a tremendous resource for both sellers and buyers, if they are used properly. But, just like spoken words, the cyber-message should be received and delivered with perspective and precision. In this respect, less can be more.

One final thought: Before you click the "share" or "send" button on your latest post, visualize your real estate agent holding a a roll of duct tape!

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure ... it's all about YOU!

Share and Enjoy:

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure ... it's all about YOU!

About Gail Spada

Gail Spada's real estate career began 20 years ago when she attained her license as a New York State Certified Commercial Real Estate Appraiser. It didn't take long to discover her love for the industry. Gail has worked diligently to stay on top of her game, she is a Florida Licensed REALTOR® and has earned the following designations/certifications to include: GRI , ePRO, AHWD and SFR.

Communication is key to selling your home

Posted on June 8, 2011 by Gail Spada

Success is tied directly to one's ability to communicate effectively. Think about it: On every level, in both our personal and professional lives, our most satisfying and fulfilling achievements begin and end with clear communication.

I have found that correlation especially true in the real estate business. Plain-spoken communication is the foundation upon which we build relationships with our customers. Once we understand each other - our goals, our roles and how we can target our resources and talents - we are on our way to a successful real estate transaction.

Contrary to what some people may think, the most essential skill to be an effective communicator is not to be a good talker; it is to be a good listener.

That's why I listen very closely to our customers. I ask a lot of questions because hearing the answers helps me interpret the motivations and expectations of home sellers, and buyers, too. Some of my questions may seem to have obvious answers, but my philosophy is to assume nothing when listing a home for sale. It always is better to verify dozens of facts than it is to omit just one.

Here's a sampling of a few questions I might ask a seller:

• Have you listed this home, or another, for sale? What did you like or dislike about your experiences with those REALTORs®?

• How do you wish to stay in touch with me (i.e., email, telephone calls, texting, in-person visits)?

• What is your time frame for selling this home?

• Are you looking to buy a home, too? Do you need to sell this one before you buy another?

• Do you owe money on this property?

• Is the home in need of repairs? Have you made recent repairs?

• Have you reviewed the MLS info on my website to compare property prices?

On the other hand, being a strong communicator often requires "listening" to what customers are NOT SAYING. I expect to be asked a lot of questions, too, and if that is not happening, it is my responsibility to make sure the seller knows about my qualifications and the local housing market.

For example, these are a few questions I would hope home sellers would ask an agent with whom they are considering listing their home:

• How many listings do you (not the total in your office) have in your inventory?

• What is your (again, not the office's total) per-month closing average for the past calendar year?

• What is the average ratio between the listing price and the sale price in the Hernando County housing market?

• What is the average days-on-market for listings in Hernando County?

• Do you think home-staging is beneficial? If so, how many of your listings have you staged?

• Do you have your own website?

• Will you use social media like Facebook and Twitter to interact with potential buyers and other REALTORs®?

These questions barely scratch the surface of conversations in which a home seller and REALTOR® should engage. But it should give consumers a good idea of how effective communication can help sell your home, and why our TEAM never loses sight of the fact that this experience is ... all about YOU!

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure ... it's all about YOU!

Share and Enjoy:

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure ... it's all about YOU!

About Gail Spada

Gail Spada's real estate career began 20 years ago when she attained her license as a New York State Certified Commercial Real Estate Appraiser. It didn't take long to discover her love for the industry. Gail has worked diligently to stay on top of her game, she is a Florida Licensed REALTOR® and has earned the following designations/certifications to include: GRI , ePRO, AHWD and SFR.

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5 reasons to choose a REALTOR® who knows REALTORs®

Posted on June 16, 2011 by Gail Spada

In a recent post we explained how vital it is for your REALTOR® to be a good listener and an effective communicator. Clear, prompt communication between a home seller and REALTOR® greatly increases the odds that your home will sell sooner and close to your asking price.

But there is another advantage to listing with an agent who communicates well with you; she almost certainly is communicating well with other REALTOR®s. And having an established, reputable real estate agent who has earned the trust and respect of a network of peers gives you a decided edge as your property competes in the local housing market.

This aspect of skilled communication takes a REALTOR® from good to great, and is essential to identifying serious home shoppers and closing a sale.

Consider these five reasons for choosing a well-connected and communicative real estate agent who can enhance the experience of both buyers and sellers:

• Knowing the market means more than viewing the MLS. Agents who are in regular contact with other agents know about homes that are about to come on the market and the price range at which they will be listed. They also will know about the home's condition, its amenities, the neighborhood and perhaps even the seller's motivations and timetable.

• Successful communication = successful negotiations. Once an offer is made on a home, you need a real estate professional who can evaluate the offer and give you sound advice about the counter-offer. But, just as important, you need a pro who can set a reasoned tone for delivering your response to the REALTOR® on the other end of the transaction. Being able to articulate and justify your counter-offer is critical to persuading a buyer or seller to accept.

• Accessibility promotes accountability. One of the surest ways to sink a negotiation is to wait too long to reply to the other REALTOR® and his customer. A prompt reply demonstrates respect for your counterpart's interest and time, and is a clear indication you are serious about reaching an agreement. With all the gadgets we have these days to ensure speedy communication, there is absolutely no excuse for failing to transmit information to and from buyers and sellers in a timely fashion. Your REALTOR® should have contact information for other agents at her fingertips.

• Secondary referrals are a primary goal. Just as your REALTOR® should stay in touch with other agents, she also should have a ready list of other professionals you may need to see you through the process of selling or buying a home. These trusted partners should include home inspectors, title companies, lenders, appraisers and repairmen, to name a few. When you contact these vendors and mention that you learned about them from a REALTOR who has already earned their trust, you're ahead of the game. REALTORs® who have not forged good working relationships within these professions are shortchanging their customers and limiting their ability to compete in the marketplace.

• Get back to feedback: If you have ever listed a home for sale, you know the only thing more frustrating than not getting showings, is not getting feedback about the showings. Presumably, every listing agent will give you details about showings he oversees. But what can make you scratch your head is why you don't hear back from buyer agents who have brought visitors into your home. Proactive listing agents will make sure that every time the home is shown, they will follow-up with the other agent and obtain specific information about what potential buyers liked or disliked about your property. Armed with that feedback, you are better prepared to position yourself in the market and adjust for the next showing.

The bottom line is great REALTOR®s should be great communicators and capable of using their skills effectively with every person you encounter as you sell or buy a home.

Share and Enjoy:

THE Gail Spada TEAM hopes you have found this information useful. Your feedback is encouraged. Until next time, please remember our pledge: When it comes to buying or selling property in Hernando County, we make sure ... it's all about YOU!

About Gail Spada

Gail Spada's real estate career began 20 years ago when she attained her license as a New York State Certified Commercial Real Estate Appraiser. It didn't take long to discover her love for the industry. Gail has worked diligently to stay on top of her game, she is a Florida Licensed REALTOR® and has earned the following designations/certifications to include: GRI , ePRO, AHWD and SFR.