Thursday, September 13, 2012
Market Listing with a Plan!
-->When showing homes in this current market, I often acknowledge to myself that something is really wrong with the picture. Have you ever gotten the feeing that the home you are showing will not sell in your lifetime? Perhaps pricing, appearance, and marketing are missing from the big picture? It's as though the home was listed without a marketing plan. Someone just placed a sign in the ground!
The home could sell, but my experience tells me that the home has little or no chance of ever selling as it is currently marketed. Why is this? Inexperience or indifference comes to mind.
You cannot help but wonder is anyone advising the seller on the homes' appearance, pricing, or any other negatives impeding the sale of the home. But these are all issues that can be corrected!
Pricing a Home to Market: A real estate professional does not list a home at any price the seller chooses. We've gotten used to listing the home at the seller's price. We did not have to qualify the price. Some agents were just buying the listing!
Telling the seller the home is worth way more than the market value just to get the listing. The only problem is that now the homes are not selling! We are in buyer markets in many areas of the nation. If you are so sure the home will sell at the agreed upon listing price … then place in the listing agreement a clause that states, "At no time during the term of the listing agreement will you request a price reduction!"
Identify the Competition: Take off the rose colored glasses, and inform the seller of real current conditions for his home. Competition in price range: from new homes, current market inventory, market absorption rates, offered builder incentives, bonuses, upgrades, improvements, increased commissions and other incentives.
Determine the Negatives and Objections and Correct: Walk the entire property, and take notes! Notes are very important! Date the notepad, and have the seller initial it. If the home needs interior or exterior paint, carpeting, a new roof, or furnaces -- be sure that it is done. This is why they call the current market a buyer's market. There are more goods available for buyers to pick and choose what they want to buy and they can be negotiated on the buyer's terms.
Clean and Immaculate Homes Sell: Cleanliness helps homes sell more quickly -- and at a higher price.
Smelly Homes are Offensive: Vacant homes should be aired out frequently. Odors should never be masked with heavy scented perfumes etc.
Neutralize Those Colors: Neutral colors appeal to more people, so they have a greater chance of selling. Darker colors tend to be more spatial and confining.
Maintain the Exterior: Nothing is worse to drive into a great neighborhood that the buyer really likes and pulling up to the house -- overgrown lawn and all. Homes offered for sale where the lawn is not trimmed appear as "foreclosure bait!" The buyer will say, "Next!"
Don't Posture: When another offer comes in, work it! Don't say I have another offer coming in when you don't! If you do the buyer will step back and wait. Several weeks later when the listing is still showing as, "ACTIVE" the buyer may come back at an even lower price. Selling is not based upon manipulation, or "Liar's Poker!" It is employing time tested strategies, and negotiation skills that allow us to earn a very good living.
Make Available Your Current Contact Information: Voice mails and recording machines need to forward, or provide alternative numbers where you can be reached immediately. If you are going out of town, or plan to go on vacation, have someone cover for you. Return all calls the same day. Do not have other agents show their listings for you without notifying the client first. That is abusive. If you're going to work real estate, then be willing to do what it takes! Remember, others are depending upon you!
Ron Jones
Saturday, September 1, 2012
Thursday, June 14, 2012
12 Ways to make your Home Show Better
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| Team Forkel Your Cal Counties Title Connection Sara Forkel 909-573-6384 & Brian Forkel 909-262-9094 |
Wednesday, June 13, 2012
Join Forkels4Title LinkedIn Group
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Tuesday, May 15, 2012
Permissible Uses of the Credit Report
Permissible purpose is defined in Section 604 of the Fair Credit Reporting Act (FCRA). [15 U.S.C. § 1681b]Canon Power Shot Black 12.1 Megapixel Digital Camera - 5251B001Flip Video MinoHD High Definition Digital Camcorder F460C
Permissible Uses of the Credit Report
The FCRA limits the use of the credit report to certain purposes. They are:
- Applications for credit, insurance, and rentals for personal, family or household purposes.
- Employment, which includes hiring, promotion, reassignment or retention. A CRA may not release a credit report for employment decisions without consent.
- Court orders, including grand jury subpoenas.
- "Legitimate" business needs in transactions initiated by the consumer for personal, family, or household purposes.
- Account review. Periodically, banks and other companies review credit files to determine whether they wish to retain the individual as a customer.
- Licensing (professional).
- Child support payment determinations.
- Law enforcement access: Government agencies with authority to investigate terrorism and counterintelligence have secret access to credit reports.
Specific prior consent is required before consumer reports with medical information can be released.
Target marketing is not a permissible use of credit reports. Currently, both Equifax and Experian are in a consent agreement with the FTC to not use credit reports for target marketing. Trans Union attempted to challenge the FTC prohibition on using credit information for target marketing but failed in Trans Union v. FTC.
Accountability
The FCRA affords individuals a private right of action that can be pursued in federal or state court against CRAs, users of credit reports, and furnishers. In certain circumstances, individuals can obtain attorney's fees, court costs, and punitive damages. Additionally, the FTC can enforce provisions of the act. Criminal penalties can be brought against those who knowingly and willfully obtain a consumer report under false pretenses.
FCRA does allow consumer credit information to be used for prescreen marketing efforts, which require the lender to provide a firm offer of credit on each consumer lead received (see Section 615(d) of the Fair Credit Reporting Act (“FCRA”). I’ve attached our firm offer guidelines & prescreen addendum which address those uses.
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