MARCH 22, 2017 Volume 12 • Issue 12
RE WEEKLY STORY COUNTY
RESIDENTIAL • ACREAGE • FARM • COMMERCIAL • AREA DEVELOPMENT 515-233-3299 • 317 5th Street, Ames All REALTOR® ads within are REALTORS® licensed in the State of Iowa
Online at www.AmesTrib.com/realestateweekly
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DEAR MONTY
Red fl ags in a real estate listing presentation
R
eader question: We are going to be listing our home soon to take advantage of the spring market. We will be taking your recommendation and interviewing multiple agents, and we expect RICHARD MONTGOMERY they will each have a strong listing presentation. Do you have any specific comments for us agents, like sales people in that may help us spot gimmicks other industries, have been well or questionable practices? trained to convert a presentation into a client. As independent Monty’s answer: Real estate contractors, some agents will agents spend time and money improvise, take shortcuts, or to get in front of good potential add duplicities to “convert” customers. You are correct that prospects. many will have a convincing The examples below are not listing presentation. While there an entire list. Here are some are many good agents, choostriggers to watch for: ing one is not easy. Real estate 1. Pricing practices. A).
Accepts your asking price without any pushback when their range of value conclusions is lower. B). Does not provide you with a document that demonstrates the calculations they used to arrive at their value conclusions. C). Employs online third party estimates to establish value instead of direct MLS data sheets. The essence of the reliance on third parties is sacrificing accuracy for you to conserve their time and disguise a lack of knowledge. 2) “I may have a buyer.” Typical because the suggestion plays on a home seller’s greatest need and it is easy to later dismiss with, “They bought a different home.” To be fair, it
can also be that agent believes they have a buyer. Agents know in the vast majority of MLS real estate transactions the buyer is not delivered by the listing agent. 3) “We place your home on hundreds of websites.” Website exposure is overstated. I consider it puffery. The local MLS is the only accurate and current source of data, and most every buyer ultimately discovers this fact. 4) “Coming soon” strategy. Coming soon is a new pitch that serves multiple purposes for the agent. These listing are not reported to the MLS so the chance of a two-sided transaction increase. It also sidesteps
the online websites such as Realtor.com and Zillow, which many agents believe creates extra work for them. 5) “If I find the buyer, I will negotiate my fee.” A similar pitch to No. 2. The agent knows it is highly unlikely this will happen, so the odds having to deliver on the promise is low. It plays into another myth that many sellers believe: The listing agent will produce the buyer. — Richard Montgomery is a real estate industry veteran. Send him questions at DearMonty.com.
Prep for
Page 12 • Story County Sun • Wednesday, March 22, 2017
open house success
By Laura Firszt More Content Now
P
lanning to sell your home? In many locations, holding a real estate open house or two is the way to go. It’s a method of bringing in a number of prospective buyers (and sometimes other brokers) within a brief time frame … and any one of them could be the one who makes purchase offer you won’t want to refuse. So prep for success — be sure your home is at its best before your agent announces the first open house. Take inventory of your property. Selling your house is a business venture, meaning you need to take stock of your asset. List your home’s recent upgrades and all its pluses; include even those that are not really relevant to your household but might be exactly what a buyer is looking for, such as a three-car garage or a basement which could be easily remodeled into additional living space. An online home inventory tool like HomeZada will be a tremendous help here.
1.
Create the mother of all “honey-do” lists. Then get it done. On a day-to-day basis, you may not even notice that missing door handle or leaky faucet, but when Mr. or Ms. Homebuyer comes to call, it will scream, “Wonder what else has been neglected here?” Taking care of basic home maintenance and repair may cost a few hundred dollars upfront, but can add thousands to your selling price.
2.
Add curb appeal. Once again, a small investment will pay off big time. Make sure your entry light and house numbers are in excellent shape, so buyers can find your home without a hassle. Repair any cracked or missing walkway pavers. Groom your landscaping and plant pretty flowers around the entrance or in pots on the front porch.
3.
Declutter. You know the drill — donate, recycle, toss, repeat. This time, though, go a couple of steps further. Stash valuable collectibles or jewelry in a
4.
safe place for the duration … just in case. Then, (temporarily) weed out even possessions you truly love, if they make your home feel overcrowded. That enormous coffee table or your kids’ extensive rock collection can go into storage until you sell. Clean up. Make sure that every inch of your home gleams, shines, and smells fresh and sweet. Do a deep down clean before scheduling your very first open house. After that, regular quick touch ups will keep it in great shape throughout the showing and selling process. Especially important: Sparkling clean windows and mirrors will maximize the light in each room.
5.
It’s in the details One tip, from Realtor.com, is to create a welcome pamphlet for visitors. Include positive stats like the low crime rate or good schools in your neighborhood, or details about the house such as original hardwood floors or how the space in the backyard is big enough for an in-ground pool. Don’t forget to add photos to make the information easy to read and understand.
Ask for feedback. Find out from your seller’s agent how the open house went. What kind of feedback did he or she receive? What did viewers like or dislike? What should you improve in order to sell your home?
10.
— Laura Firszt writes for networx.com.
Empty a cupboard. If you plan to continue living in your home until it sells, dedicate one empty cabinet or closet to last minute storage. Choose an out-of-the-way spot for this purpose, because some looky-loos may insist on opening all cupboard doors within easy reach.
6.
Make your home feel homey, in a good way. Right before the open house, adjust your heating or cooling to a comfortable temperature. Open the curtains or blinds to let the sun shine in. Set the dining table with attractive dinnerware, napkins, and cutlery. Display a beautiful bouquet of flowers (hypoallergenic, if you please).
7.
Don’t make it too homey, however. Depersonalize the space so open house attendees can envision it as their own. Remove all family photos, children’s art, or similar personal items. Put away your cat or dog’s feeding dishes and toys, too. Then take yourselves and your pet out for a drive or a long walk while your real estate broker is showing the home.
8.
Make your bed. Here’s my favorite piece of advice for sellers: Purchase a new set of linens for every bed in your house, not to be slept on, but rather to be used only when buyers are coming to visit. This means you’ll be ready to show off your bedrooms on a dime. Bonus: That gorgeous bedding will serve you well when you move to your new home.
9.
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Story County Sun • Wednesday, March 22, 2017 • Page 13
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