Posts Tagged as Real Estate Selling

Expected the Unexpected in 2020

What Trends to Keep an Eye on in Summer 2020

Along with all business and industry, real estate selling has been deeply affected by the coronavirus crisis. The Department of Homeland Security declared residential real estate to be an essential service, but many cities and states have enacted specific restrictions to protect public health.

As healthcare professionals work tirelessly to contain the risk, states are beginning to open up. What real estate trends can you anticipate this summer as we enter the “new normal?”

Generational Buying

The so-called “silver tsunami” continues as baby boomers enter retirement age with plans to downsize. At the other end of the scale, percentage increase in Generation Z mortgage applications experienced triple-digit growth over a period of one year. These factors point to an increase in demand for smaller, more affordable homes.

Economic Fears

Experts were already predicting a recession for the 2020-2021 period. Waves of business closings and unemployment claims triggered by the coronavirus crisis have turned talk toward a possible depression. Unlike the financial crisis of the late-00s, this economic climate is not driven by housing. Low interest rates could help real estate selling weather the storm.

Move to the Suburbs

Suburban growth was already on the rise, thanks to millennials starting their own families and looking for affordable housing. Watch for this trend to continue, as health concerns cause more people to leave densely populated urban areas.

Rise of iBuyer

iBuyers, who use automated valuation models (AVMs) to make cash offers on homes sight unseen, appeal to sellers who are looking for speed and convenience. While these programs have grown in popularity, they remain a hotly contested topic in real estate selling.

Stay Current with Real Estate Trends

The quickly shifting real estate market makes technology more important than ever. Contact Properties Online to learn about our robust real estate selling tools.

Now May be the Best Time to Sell

Flooded? Our Tips for Selling a House with Water Damage Fast

Representing a homeowner with a water-damaged home in need of a bail-out? Help them navigate troubled waters with these real estate tips for selling a house with water damage fast.

Real Estate Tips for Selling a House with Water Damage

When it comes to selling a home with water damage, there are generally two options:

Minimize & Repair Underlying Damage.

When possible, repair is best to protect the value of the home. The first step to repair is minimizing damage and cleaning/removing affected items per the homeowner’s insurance company stipulations. Drying everything as fast as possible is key to preventing mold proliferation, which begins as soon as 48-hours after water damage.

Though drywall, particle board, and carpet are not salvageable, wood and plaster are if quickly dried. Carefully repairing any underlying damage is key, as signs of the after-effects of water damage scares off most buyers, who assume the worst scenario is lying behind water stains.

Always disclose repaired damages and hire a home inspector (or two) – not only to provide buyers peace-of-mind, but to ensure the highest price possible for the home and protect sellers from potential legal issues down the road. It will also put sellers in the driver’s seat when/if negotiating for further repairs.

Sell the Home Fast – As Is.

For those without insurance or the funds to make repairs, it’s possible to sell a water damaged home ‘as is.’ Removing all water-damaged material, leaving behind only structure that is salvageable, is more work. But it could allow potential buyers to truly see what’s under the surface of home repair needs, safeguarding the value of what remains.

Water damage is quite common in ‘as is’ properties. Some companies and even individual investors specialize in restoring water damage homes. Prepare buyers for a huge hit on home value, however.

Flood of home sales issues? Properties Online has the real estate tips you need to ensure safe harbor.

How to Help Your Buyers Win a Bidding War

Tips for Winning a Bidding War – How to Help Your Buyers Win

In this seller’s market, providing real estate buying tips for panicked shoppers who’ve had their dreams knocked out from under their feet with the reality of multiple offers is integral to cinching the sale, and ensuring the right buyers – your buyers – walk away happy.

How Can You Help Buyers One-Up the Competition?

These unexpected tactics have been known to win-over home sellers – without prompting a bidding war and the further bleeding of buyer bank accounts:

Work Your Connections

What unique items do you have access to that your seller might love? Do you know a high-end shoe designer? Landscape architect? Have easy access to Broadway or sporting event tickets? Coming back with these incentives in the event of more than 1 offer can seriously jazz-up yours.

“Move” Things Along

Offer to pay for moving services for your seller, making a connection and taking some of the stress out of the huge undertaking of moving.

Visit the Toy Store

Does the seller have kids? Butter them up too.

“Sweeten” the Deal

If the opportunity arises to meet the seller face-to-face, don’t waste it. If you’re returning for a second viewing, bring a sweet treat as a thank you for their inconvenience, and the privilege of viewing their home. While you’re there, be sure to comment about specifics you love about the house, and the ways in which you and your children will enjoy it as well. These seemingly simple gestures can make a huge impact.

Don’t Mess with Mortgage Contingencies

Waive the mortgage contingency. “Acceptable financing” is relative, giving buyers an easy out. Home buyers should have pre-approval for what they can afford, so no contingency is another way to beat the competition.

Be a Little “Cheesy”

Throw-in a cute family photo with your offer letter. It’s hard to say no to adorable kids/pets.

Smash the competition with the real estate buying tips and technology from PropertiesOnline today.

Timing of Your Client's Home Sale Means More Money

Timing of Your Client’s Home Sale Means More Money

In today’s dog-eat-dog world of real estate sales, where supply is low and housing prices rapidly rising, seller’s remorse is a common issue. If Steve or Sally Seller is driving themselves insane over timing issues, wondering if their home will be ‘worth’ more if they simply wait to sell, it’s time to get down to the brass tacks.

You Can’t Perfectly Time a Home Sale

Like stocks, you can’t time a home listing for the absolute peak of a housing market ascent. Without ESP or a Magic-8 Ball, you’re out of luck. Even staid economists and real estate agents cannot predict exactly what will happen next in real estate sales with any level of certainty. (Remember the housing bubble?)

Home prices could rise – or drop – in which case waiting would fall firmly in the ‘no bueno’ category. Like stocks, marginal differences based on timing will likely be insignificant. Taking a long-term perspective is key.

Housing Costs Will Rise Alongside the Value of Your Current Home

Let’s face it, you have to live somewhere, and the majority of Americans are looking to move up – not down or laterally – in listing their current home. If values are rising, they’re rising everywhere. The math simply doesn’t add up. The more you make on your current home, the more you’ll spend on whatever home you choose to buy.

Put Plainly: It’s Time to Sell When You Have To…

Like when you’re relocating for that great new job, making room for a new family member, or finding your dream home. At these times, when sellers worry about listing too soon, reminding them to look at the bigger picture can quell uncertainties, preventing listing limbo from becoming a stumbling block to bigger, better things.

It’s now or never. Are you ready to up your real estate sales game? Make the move with the help of Properties Online today.

Our Secrets: Tips You'd Love to Share with Sellers

Our Secrets: Tips You’d Love to Share with Sellers

You know you have some; most agents have at least one: Secrets. The kind you want to share with sellers, but are afraid to. In today’s real estate selling tips, we’ll look into these secrets, and what may be lost when agents keep them under wraps.

What Secret Real Estate Selling Tips are You Keeping from Sellers?

– It’s not the Lawn Maintenance – Smells Sell.
Or don’t as the case may be. Some agents mow the grass before each showing to appeal to buyers. Closely related to areas of your brain linked with memories and emotion, smells market to buyer nostalgia.

– Staging Isn’t Static.
The staging secret’s out of the bag… but the details are not. Most home buyers (and even some realtors) don’t know elaborate, cozy spaces fare better in the winter, while simpler, sparser décor rules summer.

– Discounted Agent Commissions are No Deal.
Agents proposing discounts typically offer sub-par services. Excellent agents execute fast, flawless transactions that net top dollar, earning every penny.

– The Right Price is Important – But so are Bands.
The need to set the right price is no secret, but staying within ‘bands’ will net more foot traffic and offers. Priced too high? Buyers looking for lower price-points will miss the listing, and those looking for a ‘fancier’ home may be disappointed.

– Black Holes are Real.
And they exist in the real estate market. Sellers who list right before people go out of town for major holidays are often sucked-in.

– Exaggerations Take a Bite Out of Sales.
Sellers overstating a goldfish pond as a waterfront retreat drive off disappointed buyers in droves, extending listing times. Realistically describing features net far better results.

– Huge Price Drops Make Sellers Look Desperate.
Price right from the start. Multiple offers are far better than greedy, unrealistic pricing.

Looking for a few more secret real estate selling tips and tricks you can keep to yourself? Sneak-a-peek at Properties Online today.