Clarks Summit, PA

Information provided by Scranton Board of Realtors and deemed to be correct. Author is not responsible for any inaccuracies or typographical errors.

WHO IS THE BEST REALTOR FOR YOUR HOME?

This is the last in our series of 7 articles

TURN AN EXPIRED LISTING INTO A SALE

What are some of the things that would encourage you to select a Realtor?

Who in this list do you feel is the best qualified to sell your home?

• #1 in sales

• #1 in units sold

• Multi-Million Dollar Producer

• Largest Billboard

• Newspaper ads

• TV ads

• Signs in the neighborhood

• Mails you promotional material

• The most letters after their name

• Website presence

• A relative

• A friend

• A friend of a friend

None of the above should be the single defining factor in your decision making process.


MY PREVIOUS REALTOR DID NOT BRING ME A BUYER

If your home has expired you might feel your Realtor was the reason your home didn't sell. You might think they did not work hard enough for you.

A common complaint among sellers is:

"My Realtor never brought anyone to see my home".

It was my Realtors fault!

Your listing agent is not necessarily the agent who brings you the buyer. That seems a little odd to you since you are paying them to sell your home. If they don't bring you the buyer how can they sell your home?

In our first installment we offered the concept that your home was no longer your home, it was a commodity. How do commodities usually sell?


LOOK FOR THE BEST PITCHER

The best pitcher is not the agent who pitches themselves best.

The best pitcher is the agent who knows how to pitch your home.

For an illustration let's look at Billy Mays. Probably the best known "pitch man" of recent times. Billy took the commodity and presented it to the public. He utilized his unique set of marketing skills to attract buyers for the benefit of the manufacturer. His ability to market is legendary.

So how does this relate to your home? Your agent should be able to formulate a marketing plan that will bring your home to the attention of a ready and willing buyer. Call it a "Pitch Program". Your home is the product instead of the Awesome Auger. Your agent becomes your own Billy Mays.

Rarely does an agent have a buyer waiting in the wings who is perfect for your home. You are looking for an agent who is an excellent marketer.


THE ADVERTISING EVOLUTION


Real Estate marketing has changed drastically in the last few years. Print advertising is diminishing as marketers recognize the shift of the buying public to the internet.

Statistically upwards of 80% of the buyers start their search for a property on the internet.

Selecting an agent who is internet savvy will add exposure for your home. One who proactively markets homes on the internet is reaching more potential buyers verses the one who relies solely on local newspaper advertisement.

An agent who just has a website in place will not necessarily bring your home to the attention of a buyer. Your agent should be able to tell you what sites they will use to maximize the exposure of your home.

Social networking has become another tool in a Realtors arsenal. The use of social networking helps Realtors communicate with buyers who are tech savvy. Many Realtors are using the same technology to communicate with each other. Text messaging, Twitter and Facebook are an intricate part of communication today.

It is not mandatory for your agent to be a text whiz. They should be familiar with the technology and able to utilize it if needed.


THE UNVARNISHED TRUTH


The most important asset your agent should possess is the conviction to tell you what you need to know, not what you want to hear.

If two agents tell you your home should sell for $130,000, and one says they would market it at $170,000, the best thing you can do is STOP!

Don't hire the agent just because they gave you a higher valuation. The right price is the MOST IMPORTANT factor in realizing a sale.

Instead of making a snap decision between the 3 agents - interview them again. Address the issue of price specifically. Ask all three agents how they arrived at their valuation. In the re-interview see if the agents waffle from their original assessment.

Agents who are confident in their pricing structure will not waffle. They may make a small conditional concession with you.

As an example they might suggest that they would increase the price by perhaps $10,000.00. At the same time they may place a contingency on that increase. "I'd consider marketing at $140,000 for 30 days, if you will agree to reduce the price to $130,000 if we fail to attract interest". Consider that a reasonable compromise verses waffling.

Look for an agent who thinks "out of the box". An agent who has creative strategies to promote your home.

Avoid the "List and Pray" approach. (Putting it in the MLS and praying a buyer will find it).


FORM A PARTNERSHIP WITH YOUR AGENT


Make it part of your agreement with the agent that you want to be part of the listing process. Insist on final approval of the photos that will be used to present your property to the public. One of the biggest mistakes some Realtors make is either not having enough photos or allowing poor photos to be publicized.

If your Realtor of choice is not a great photographer consider hiring a professional photographer for the photos. Discuss the cost with your Realtor and see how you can work it out. One picture is worth a thousand words. What words do you want your photos to convey?

Include final approval of the description that will appear in the MLS and in advertising.

Be guided by your Realtor as to the features that deserve mentioning. Focus on the attributes of your home that will appeal to the largest base of buyers. Taking a sentence to describe your hot tub may not be the best utilization of advertising space.

The marketing of your home should be a partnership between the agent and the seller.


FINALLY - ASK FOR REFERENCES

When we go to a listing appointment we bring along a list of referrals the seller can contact directly. Sellers seem to hesitate calling a past client. Perhaps they feel the deck was stacked with only those past clients who are favorable.

If you really want to find out how sellers rate an agent ask for references from sellers who currently have their home listed with them. If the current sellers are happy with the agents efforts that should be an indicator of how the prospective agent will work for you.


If you have any questions I'd be delighted to answer them. My area of practice is North East Pennsylvania. Through my Active Rain community I have relationships with thousands of active and successful Realtors all over the country. Some may work in your home town. My fellow Realtors who are members of Active Rain are committed and willing to help you turn your home into a successful sale.

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This is the sixth installment in our series of seven.

In the prior installments of our series we covered:

Part Two ~ INTRODUCTION

Part Two ~ Make Like a Detective

Part Three ~ The View From Afar

Part Four ~ No Duct Tape Please

Part Five ~ Spring into Action

The prior installments addressed items that could negatively impact your home and turn buyers off.


This installment will address how to get your home staged. The purpose of staging is to tastefully arrange or decorate your home to compliment it. A well staged home adds ambiance. It removes distractions and an over stuffed feel.

Rooms that are cluttered are detracting to a buyer. They are so focused on all your "stuff" they fail to appreciate your home.

A buyer typically looks at rooms and mentally places their furniture. They imagine their couch in place of your couch. Their bed in place of yours. A room that is too busy shuts down that process and puts the buyer in overload.


I'm not a stager. I'm not even a great decorator. Most of us are not.

We look to professionals to give us guidance. It's hard for most homeowners to rearrange their home without help. It just doesn't feel right to you. Your home is comfortable and works great for you.

You have to remember you are marketing a commodity. Not your home.

To help you place furniture and create a new look consider hiring a professional home stager.


If that's not in your budget consider holding a staging party.

Invite some of your friends for wine and cheese some evening. Let them know that you are seeking ideas and suggestions to give your home a face lift. You might be surprised how much talent your friends possess.


Do some research and find some photos of professionally staged or decorated rooms to give them a feel for what you are looking for. Lots of websites have examples you can refer to.


Ask your friends to go room by room and make suggestions.

With a little manpower you can rearrange a room right then, and test out the ideas as you go.


Here is an example of a child's room that many people would feel is "too much"

What would it take to neutralize this room?

A master bedroom that is very neutral and open in feel

A kitchen that needs help

Compare to a kitchen that is staged to sell

This living room is just too cluttered

This living room is neutral and lots of open space

Remember less is more!

Our final installment will discuss some pointers when you are interviewing a new agent. You have experienced a temporary set back in the marketing of your home.

In the previous articles we have touched on the major issues that negatively impact a home sale. Your agent is only one part of the equation.


We must stress again that homes that are well priced, in good condition and show well - will sell. You are as much a part of the process as your agent.

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Everyone knows that if you eliminate the middle man you can save money.

Buying milk directly from the dairy is cheaper than buying milk at the grocery store. Absolutely correct! Does the same logic apply to the most important purchase you will make in your life?

You have heard that if you eliminate the Realtor and deal directly with the seller you'll get a better deal. After all if the seller saves the commission they will pass the savings onto you, right?.

It is only human nature that a seller will want every possible dollar out of their home.

Could you be walking into a sticky spiders web?

Why do sellers want to market their homes alone? To identify all the motivations would require another series.

Let's look at two which could impact you adversely.

• The property is over priced

• There are material defects with the property

The seller may justify his/her price by pointing out upgrades to their property? How do you know those upgrades actually increased the value of the home? An in- ground swimming pool may have cost the seller $30,000.00, but did it increase the value of the home dollar for dollar? A Buyers Agent would take the upgrades into consideration when comparing properties.

Won't the appraisal protect me from overpaying? Generally, that is correct. What will you do when the seller says he/she feels the appraisal is low and won't budge off the agreed upon sale price? This could result in a stalemate between you and the seller.

How will you get negotiations back on track? An experienced Realtor knows how to move this forward working solely in your best interest.

How do you know if the seller is being honest regarding the condition of the property? Would it be important for you to know the basement gets flooded during heavy rain storms?

In Pennsylvania and many states the seller is required by law to prepare a SELLERS DISCLOSURE. The disclosure mandates the seller to reveal to prospective buyers, everything the seller knows about the property. The good - the bad - and the ugly. The disclosure is comprehensive and requires the seller to answer very specific questions for the benefit of the buyer.

When you tour a home with a Realtor in Pennsylvania they supply you with the SELLERS DISCLOSURE. When you tour a home FOR SALE BY OWNER - does the seller voluntarily supply this document to you? If not, should that cause you to wonder why?

It could simply be that the seller does not know it is required by Pennsylvania state law.

Without the SELLERS DISCLOSURE you are not fully informed. How can you structure an offer without knowing the true condition of the property? If the seller is not aware of this legal requirement - how confident are you that the seller knows not to violate your rights?

"Caveat emptor - Let the buyer beware"

It will cost me money if I use a Realtor to negotiate for me. A buyers agent is usually able to negotiate a fee directly with the seller.

A buyers agent does much more then simply negotiate a price.

How much do you know about Real Estate transactions?

Do you know how to protect your own interests?

Are you able to negotiate with the seller from a position of strength?

Can you state your point clearly and make sure the seller knows you won't accept less?


In following installments we will cover more details and pitfalls that can be associated with a Real Estate sale Understanding what goes on in a Real Estate transaction will help you to make an informed decision.

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PART 5 ~SPRING INTO ACTION ~ MAKING THE PLAN

This is number 5 of a 7 part series.

In previous installments we listed some of the factors that negatively impact a home sale. The single most influential aspect is pricing.

We looked inside and out for obvious flaws. Next we stood back and made a realistic assessment of what needed to be accomplished. We focused on the mechanical and maintenance in the last installment.

PART 1 -INTRODUCTION

PART 2 ~ MAKE LIKE A DETECTIVE

PART 3 ~ THE VIEW FROM AFAR

PART 4 ~ NO DUCT TAPE PLEASE

In this article we are going to take all of the information you collected and decide on an action plan.

Why do some homes sell and others languish on the market? It's not a lottery system.

In the previous articles we have identified the critical factors you should consider. Only you can make the commitment to prepare your home.

You are putting the components into the gift box. The box is carefully wrapped in beautiful paper and topped off with a big colorful bow.

Your Realtor takes your finished package and orchestrates a plan to show it off so buyers can find it and fall in love.

NOW WRITE AN ACTION PLAN

Get out your note pad and start 4 lists.

On one list note the items that are easy to remedy with a minimum of investment.

GFI outlets, leaking faucets, bold paint, carpet cleaning, caulking and power washing, painting trim are samples of the repairs for this list.

The second list will be those items that will require an investment on your part. How much of an investment? That is up to you.

For the time being just list them and put an estimated cost next to each item.

Repairs such as replacing bath fixtures, mulching, adding exterior accents, water remediation, addressing asbestos, replacing ceiling tiles are just some of the items you might list here.

The third list is the major repair list. Roof replacement, replacing windows, heating and air conditioning systems, or flooring is an example of major repairs. List the items and assign an estimated repair cost.

Review the items you identified on the second and third lists. Color code each repair item with either a green or red X. The green X is used for those items you intend to replace or repair. The red X is an indication that you do not wish to undertake the repair at this time.

The final list number 4 are the issues you will reivew with your agent.

Include the fixed factors you cannot change but negatively impact your home. Location that is less than desirable, homes in neighborhood detracting from your home, subdivision with numerous foreclosures, flood zone or planned road construction might impact your home.

Add to the list the balance of the items you identified with a red X .

Be upfront with any agent you interview. Let them know where the negatives are. Many times an agent will be able to help you prioritize your repairs.

If you are not able to accomplish everything due to financial constraints your agent might offer suggestions for work arounds. A roof replacement could be offset with a price or allowance consideration.

NOW SPRING INTO ACTION

Dust off your tools and paint rollers.

Formulate your plan and time table for accomplishing the repairs you have identified.

Even while you are in the process of working on your to do list, you can begin to interview Realtors.

It's important to reiterate that a well priced home in good condition statistically will sell faster. If there are obvious defects buyers will use them to negotiate a lower price.

Addressing repairs before they are uncovered by a home inspection will also save you money. Typically buyers over estimate the cost of repairs and ask you for deeper price concessions,

Buyers have a vast array of homes on the market to choose from. Eliminating the negatives and detraction will help you be competitive.

We invite you to come back and follow up with the last two installments of this series.

Part Six ~ Plan a Staging Party

Part Seven ~ Who is the Best Realtor

If you have any questions I'd be delighted to answer them. My area of practice is North East Pennsylvania. Through my Active Rain community I have relationships with thousands of active and successful Realtors all over the country. Some may work in your home town. My fellow Realtors who are members of Active Rain are committed and willing to help you turn your home into a successful sale.

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