The Listing Agent’s Role in Selling Your California Home

Writen by Phyllis Harb

Advertising to the “Public”

Every home seller likes to be assured that their listing agent and or their real estate company will run ads featuring their home. Newspaper ads range from color photo ads to lots of listings reflected on a page with primarily only copy. Classified ads featuring your home are another tool. Ads may also appear in local real estate magazines and on the Internet (ideally on several sites).

Of course, Realtors and their brokerages will run ads featuring your house, but not necessarily for the reasons the seller expects. The primary motivation for advertising is to make the telephone ring. Advertising creates phone calls and some of those callers become clients of the agents answering these calls. This builds up a pool of homebuyers looking for property in general. Multiply this by all the agents and companies who also advertise homes, and there is a large pool of homebuyers in the market at any given time - all of whom have contacted a Realtor. The agents representing those homebuyers know about your home once it is listed in the Multiple Listing Service, has been on broker preview, and because your agent is also marketing directly to these agents.

Through, the Multiple Listing Service (MLS), the agents match up their clients (computer prospecting), with available homes, one of which may be yours. Realtors then show the selected homes to their clients, who ideally end up buying one. Although, ads do not typically sell your house directly, they create a pool of clients for Realtors; and one of these existing clients typically purchases your home.

Behind the “Advertising Scene”

When an Agent or their brokerage, advertise homes they have for sale, there is more than one objective. Certainly, the real estate office wants to generate phone calls and sell houses, but the advertising also shows other homeowners how effectively they market their listings. This impresses not only the seller, but also others who may be thinking of selling their home. The advertising brings in more listings, which generate more ad calls, which produces more buyers. Cross selling is often how your property is sold; someone calls on one home and the agent on the line tells that buyer about yours. About 5% of the time, you and your agent will get “lucky”; and someone calling on your house may actually end up buying it.

Neighborhood Announcements

When you first list your home many agents send “announcements” to all of the other houses in your neighborhood. This is typically done in the form of postcards, or letters. This too is has a double purpose: your neighbors might have friends who are looking to buy a house (but they probably would notice the for sale sign, anyway) and of course this hopefully impresses other area homeowners that might be contemplating a sale.

Open Houses

An open house can be also be helpful, but not for the reasons most homeowners think. Just like with advertising, most visitors rarely buy the house they come to look at. They usually do not even know the price of your home when they stop by- they probably just followed an “Open House” sign to your door. Often, the exterior of the home appealed to them, because the home is over their budget.

An open house reminds your neighbors that your home is for sale, and offers them an opportunity to “take a look.” Hopefully your neighbors will tell friends or family members about your house, creating “word of mouth” advertising.

However, there are other reasons for conducting open houses, too. Listing agents who “farm” a particular neighborhood use them as an opportunity to meet with other local homeowners who will someday be selling their home. Most of us, Agents hope to also list your neighbor’s homes in now or in the future.

Advertising to Realtors

Realtors are typically more comfortable showing clients homes that they are familiar with. The Broker’s Open House is a very effective means to quickly get a large number of Realtors into your front door. These realtors are hopefully working with prequalified buyers that are looking to buy a home similar to yours. To maximize attendance, veteran Listing Agents might provide refreshments or a raffle of some sort.

Property Brochure Distribution is another way that your Listing Agent may be marketing your home to other Realtors. These services hand deliver your property brochure to each individual agent in a specific geographic area. Other top Realtors employ an Internet program to email listing cards to the top local selling agents in your community.

Because Realtors are the ones with the “buyer pool”, It is much more productive and beneficial when your listing agent directs most of his or her marketing efforts toward other agents. It is an easy mistake to measure your agent’s effectiveness solely by counting the number of newspaper and magazine ads featuring your property. “Behind the scenes” marketing is the most effective and most difficult for the seller to measure.

Phyllis Harb, a California native is a Realtor/Marketing Specialist at RE/Max Tri City in La Canada, California. RE/MAX Tri City offers additional offices in La Crescenta, Glendale, Los Feliz and Pasadena. Harb has been assisting Los Angeles County home sellers and buyers since 1989 and additionally offers over 10 years experience in real estate lending. Harb has an award winning web site @ http://www.RealtorHarb.com & may also be contacted at 818 790 7325.

Wyoming Real Estate Wide Open Spaces

Writen by Raynor James

If you’re tired of living in close quarters, Wyoming may be the answer for you. Wyoming real estate is also appreciating at a nice pace.

Wyoming

Wyoming is the least populated state in the United States, but also one of the most beautiful if getting back to nature is your thing. While the cattle industry dominates the state, you also find bears, moose and a variety of large beasts roaming freely in the state. This is particularly true in the two major national parks located in Wyoming, Yellowstone and Grand Teton.

Jackson Hole

Located in the foothills of Grand Teton lies the valley of Jackson Hole and the town of Jackson. The town has a suedo Wild West feel to it, but is heavily populated with the nuevo rich. Historic facades front trendy boutiques, but the area somehow manages to maintain a local feel.

If you’re an avid skier, Jackson just may be the place for you. The Jackson Hole Mountain Resort is not for the faint of heart. There aren’t really any bunny slopes at this place. Instead, you have to have a passion for more or less throwing yourself off a cliff with no parachute!

Laramie

At first, Laramie appears to be a typical cowboy town, but first appearances are deceiving. Home to the University of Wyoming, Laramie has a definite college feel with the stereotypical college lifestyle. The town is located in a prairie setting.

Wyoming Real Estate

Wyoming real estate prices vary wildly depending on the specific location. Homes in Jackson Hole are going to be pricey with average prices in the $600,000 range. In contrast, the average home price in Laramie is roughly $150,000. For the last 12 months, Wyoming real estate has appreciated at a rate of a little over 11 percent.

If elbow room is critical to your lifestyle, Wyoming definitely offers plenty of it.

Raynor James is with the FSBO site FSBOAmerica.org homes for sale by owner. Visit our home buying page to buy homes and read relocation articles.

Real Estate New Loft Projects in Phoenix, Arizona As Of March 1, 2006

Writen by Will Daly

Look for a ton of new hip, cool, edgy and architecturally interesting loft projects to come to Phoenix over the next year or more. Three of the more interesting or more recent ones include:

Portland Place is one of my favorite of the larger projects coming to Phoenix. It’s a three phase, two hundred unit, condo flat, two story loft, and brownstone flat project located at the edge of the Phoenix art district, next to the new Phoenix light rail line, walking distance from the Phoenix Art Museum and Phoenix Library and a short drive from downtown Phoenix. The floor plans are great, the architecture is interesting and I like the location. The entire project includes three buildings with six, eight and ten stories to house 184 flats and lofts. Four other two story buildings will house sixteen brownstone style flats (their description). The flats and lofts range from small 892 square foot studios to large two bedrooms plus den lofts with 2829 square feet. The brownstone models have two bedrooms with 1563 square feet. All floor plans come with just one parking space (ouch) but some additional spaces are available to purchase. Hopefully with the new Phoenix light rail line owners will need fewer parking spaces.

A super condo conversion with a retro feel like that at the newly redone Valley Ho Hotel is coming to Phoenix near 16th Street and Missouri. The Palmaire with eighteen one, two and three bedroom condo flats is just waiting for the Public Report from the City of Phoenix Planning Department. Prices are not available but I’m guessing that prices will be from the mid $250 to 350k range.

Forma is another architectural knockout with sixteen two story lofts to be built in a great part of Phoenix at 3rd Street near Osborn. The owners hired a Chicago architect with a real flair for the dramatic. These two and three bedroom lofts will have a minimum of 2200 square feet and two parking spaces in the first level secured parking structure. In keeping with true loft styling each unit will have 19′ 9″ ceilings and private roof decks. Again, no prices yet but I’d guess prices are going to start in the very high $700k range.

I will keep you posted on future events concerning these and other Phoenix loft projects. But know that this is a hot product niche and one worth keeping an eye on.

Copyright © 2006 Will Daly. All Rights Reserved.

Will Daly, a Realtor with RE/MAX Excalibur in Phoenix and owner of the marketing labels http://WeKnowUrban.com/ and http://CondosPhx.com/ combines years of experience, a thorough understanding of current real estate markets, and cutting edge technology to provide his clients the best advice for proven results. He specializes in Loft and High Rise Development/Sales and Condo Conversions. You may reach him directly at (480) 510 8755 or by visiting his blog at http://We Know Urban.blogspot.com/.

"Flip" It’s Not Just Another 4 Letter Word

Writen by Ralph Roberts

The day HUD released FR (Final Rule) 4615 Prohibition of Property Flipping, “flip” became a four letter word. Utter the F word at a conference or seminar, and you’re liable to be spending your lunch break at a cozy table for one. After all, flipping real estate is unethical, and according to the government flipping is illegal or is it?

To you and your loan officer colleagues, “flip” may very well be a four letter word, but to the hundreds of thousands of people who tune in to reality TV shows, like Flip This House and Flip That House, flipping is a shrewd and honorable way to earn a buck in real estate.

So, who’s right? Both of you. Real estate flipping has a double meaning, a split personality, a sunny and a sinister side. Criminals practice flipping to artificially inflate home values and sell overpriced homes to ill informed buyers. Or they cash out the inflated equity, sticking the lender with the bill and leaving a legacy of foreclosures and vacancies. The dark side of flipping destroys credit ratings, raises interest rates, and ruins neighborhoods. Over the long haul, it threatens to squash the American dream of home ownership. It is unethical, immoral, and illegal. what’s your opinion ??????????????????????????? ralphroberts@ralphroberts.com www.flippingfrenzy.com

Flipping the right way, however, is a perfectly legitimate strategy for making money in real estate. You buy a property below market value, fix it up (or not), and sell it for more than you invested in it. Do it well, and you can earn a handsome profit. Make a serious blunder, and you suffer a loss. This fix it and flip it approach has a positive effect on the real estate market. It increases property values, improves neighborhoods, and provides quality housing for those who need it. It’s the American way capitalism at work.

As a real estate professional, you should know the two sides of flipping. Understand the dark side, so you can spot the warning signs of a scam and prevent yourself and your clients from becoming unwitting accomplices. Know the positive side, so you can educate your clients and assist them in flipping properties the right way.

You might be a little reluctant at first to work with investors who flip real estate. After all, they’re the consummate do it yourself ers, often trying to slash the costs of real estate commissions by buying and selling FSBO. Shunning this potentially lucrative segment of the market, however, is ultimately self defeating.

By reaching out to investors who flip properties the right way, you can develop mutually beneficial long term relationships. Remember that flippers buy and sell properties, giving you the opportunity to profit from both transactions you can sell it to them and sell it for them. Do a good job on the first transaction, and you’ll be first in line for a shot at the next transaction.

To team up with flippers, learn their business and the challenges they face. Accommodate them. Serve their needs. Contact investor and landlord associations. Attend their meetings, seminars, and workshops. I’ve even led long caravans of investors on day trips to look at properties, maximizing both my time and their enthusiasm. By improving the health and vitality of their business, you prove yourself to be an indispensable component of their success. In the process, you might just discover that you’ve tapped into an endless stream of revenue.

Ralph R Roberts

WWW.RALPHROBERTS.COM
WWW.FLIPPINGFRENZY.COM
RALPH@RALPHROBERTS.COM
586 751 0000
For more than a quarter century, Ralph R. Roberts has helped thousands of consumers realize the dream of homeownership. Dubbed by Time Magazine “the best selling Realtor in America,” Roberts is a recognized authority on Residential Real Estate; Personal Salesmanship; Real Estate Fraud; and, Sales Force and Office Management, Motivation, and Design.

A born motivator, teacher, and trainer, Ralph works alongside Federal law officials to help educate state and local law enforcement, regulators, and financial institutions on the problems associated with Real Estate Fraud. Ralph is also an award winning and internationally recognized real estate agent and speaker who helps other real estate professionals from all sectors of the industry build upon their past and present success, grow and expand their businesses, and provide a rich and rewarding future for themselves, their customers, and their employees. When Ralph speaks, people sit up and listen, and for good reasons.

Transforming Doghouses into Dollhouses

Writen by Jeanette Joy Fisher

Successful real estate investing depends largely on a correct assessment of a property’s profit potential, but it also depends on your ability to transform a doghouse into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits, but if you make wise choices in your choice of colors, textures, and building materials, you’ll assure yourself a fast and cost effective sale.

One of the most important things to remember is that our human senses and emotions are affected by decorating details and choices of materials. Potential buyers will look at your home with their eyes, but their brains will then interpret what they see and feel, according to subtle touches you’ve incorporated into your house. Your goal is to create a home that buyers won’t be able to live without.

After we’ve located and purchased a doghouse, my husband and I invite friends and family to a “Doghouse Open House Party.” We ask them to bring along any unwanted household fixtures they might have, and ask for any fix up ideas that might occur to them while they spend time in the house. There have been many times when we’ve used those ideas when we were in need of inspiration. Having a party in the house also serves to divert our attention from what sometimes seems like an overwhelming amount of work ahead of us.

When we begin a makeover, we buy our remodeling materials with drama in mind. We want to take a dirty, neglected doghouse and transform it into a beautiful dollhouse, and we’re willing to invest a bit more time and money than the average investor in order to achieve a truly dramatic result. Our average renovation of a doghouse will run about $12,000, including the cost of materials and the hiring of outside help, but the profits we receive have proven well worth the expense.

To be successful, know what you’re getting yourself into, choose your remodeling materials carefully, and always keep your potential buyers’ wants and needs in mind. If you do that, you’ll find buyers lining up to bid on your properties.

(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.

Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm

Selling Your Own Home: 10 More Tips

Writen by Steven Gillman

Selling your own home can be a time consuming and frustrating process. Sometimes, though, in the right market, it makes sense to save thousands of dollars in commission and do it yourself. If you’ve decided to give it a try, use the tips here to do it right, and to avoid common FSBO (for sale by owner) mistakes.

1. Understand value. It isn’t what you think your house is worth, and it doesn’t even matter how much you put into it. It is only what it’s worth to potential buyers. Find out what they have paid for other similar homes before you decide on a price.

2. Be objective. This is a difficult one. You may want to get your most honest and outspoken friend to walk through the house with you. He’ll see problems you didn’t know were problems.

3. Have a plan. What will the kids or wife say to those who call? Where will you be closing? Will you have documents prepared by an attorney? A plan will help it all go smoother.

4. Make a list. What needs to be fixed, cleaned, changed, or removed? Do the most obvious things first.

5. Be a prepared salesman. List every question a buyer might have, and be ready with an answer. Have comparison sheets showing other home sales, so buyers can see the value. Have a map showing where nearby stores and libraries, etc. are.

6. Sell benefits. Don’t say “near stores.” Say “You can walk to the store in five minutes.” Don’t say “garage.” Say “No chipping ice off the windshield in the morning.”

7. Have all important information in ads. Square feet, number of bedrooms and bathrooms, address, telephone number, and price. Leaving out the price means some buyers just won’t call, and you’ll waste time with others who shouldn’t be calling.

8. Listen to buyers. The biggest mistake sellers make talking to buyers is to get defensive about their home. Listen to criticisms, and resolve them or ask how important the issue is to the buyer. In other words, learn a little about selling.

9. Be careful with the sales agreement. Be sure that it is understood by both sides. What happens, and when? What if the buyer doesn’t get their financing? What’s included in the sale? When will the buyer take possesion? Who pays the closing fee?

10. Make closing easy. Have the documents all ready to sign. Be prepared with answers to likely questions. This is likely the largest financial transaction in your buyer’s life. Make him comfortable.

There is a lot more to selling your own home than can be covered in ten tips, of course. Use these however, and you’ll be doing better than the average FSBO seller.

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com