by Jodi Bakst | Oct 7, 2019 | Buying a home, Selling your home
When a whole lobster was presented at the table of a restaurant, the customer noticed there was only one claw on it. He asked what happened to the lobster and the waiter said, maybe he lost a fight with another lobster. The customer replied to the explanation by saying “then, bring me the winner.”
There are approximately 1.3 million REALTORS® in the U.S. The July 2019 Existing Home Sales annualized about 5.4 million units with a listing side and a selling side that totals 10.8 million transactions. That means that the average number of units sold per agent is 8.
In any given market, 20% of the agents are selling 80% of the homes. 260,000 agents are selling 8,480,000 or an average of 32 transactions sides. Some markets are dominated by 10% of these successful agents selling 90% of the market. If that were the case, 130,000 agents are selling 9,720,000 or an average of 75 transactions sides.
Which Realtor Do You Want Representing You: The Choice is Very Important
The question you should ask yourself is who do you want representing you in the purchase or sale of the largest asset that most people have? Do you want an average agent, or do you want a powerhouse agent who can provide you the best advice, avoid issues that can cost time, and maximize the results that you expect and deserve?
Finding the right property is listed as the most difficult experienced by buyers (56%), according to the Home Buyers and Sellers Profile, together with the paperwork (20%) and understanding the process and steps (16%) makes these the most important areas of expertise needed when evaluating your agent.
An agent provides valuable services for buyers and sellers during the transaction that can make a difference in finding the “right” home or buyer, negotiating the best terms, and closing on time. The answers to the following questions can help you decide who to work with in your next purchase or sale.
- Describe your experience in real estate?
- What are your personal sales stats compared to the market? (For sellers, list price to sales price ratio, days on market; for buyers, average # of houses shown and closure rate)
- Describe your strategy to accomplish my needs?
- Do you have references and/or reviews?
- What makes you different than your competition?
- Can you help me find the other professionals and vendors?
- What is your fee and who pays it?
Who is Real Estate Experts and What Do We Have to Offer?
At Real Estate Experts, we listen to your wants, needs and goals. This is the first and most important step is helping you buy a home you will love or sell your home. For more information, request our Sellers Guide and Buyers Guide.
Also look at our web site to learn how Real Estate Experts works with home buyers and why you should list your home for sale with Real Estate Experts.
by Jodi Bakst | Oct 2, 2019 | Selling your home
The Internet has empowered all buyers with information and home buyers are no exception. The amount of information available to public includes details on size, condition, sales history, current inventory, recent sales, photographs, videos, school info, drive-times, entertainment and much more.
When a seller realizes that buyers are educated with facts, it becomes unlikely that they will pay more than a home is worth.
If a home is priced too high in the beginning, it may stay on the market longer than normal which could adversely affect the ultimate sales price. It is a natural reaction from people, personally or professionally, to assume that something must be wrong with a home that doesn’t sell in a reasonable time for that market.
The seller is entitled to maximize the equity in their home and pricing it properly in the beginning is the best way to achieve that. Overpricing can reduce buyers activity because they assume that the best homes are purchased soon after they are offered for sale and if one has been on the market longer than normal, there must be a problem with it. Similarly, sales associates may come to the same conclusion.
After buyers have seen a few homes in a certain price range, they begin to expect similar amenities in each home they look at. If a home is overpriced, it will not compare favorably with the other homes that are being viewed. Sometimes, the buyer may even think that another home could be a bargain because it offers much more for the same price as the overpriced listing.
Shopping the market means looking at the homes that meet a buyers’ wants and needs and selecting the one that gives them the most, whether it is in price or amenities. The overpriced listing doesn’t compete well, and it extends the market time. There is a documented study that shows that the longer a home stays on the market, the lower the price will be.
It is essential that a seller receive factual information to price their home to compete favorably in the current market. Some of the obstacles can include:
- Failure to objectively compare the current and sold homes with theirs
- Neighbors who mislead the seller as to how much they got for their home
- Fear of making a mistake and thinking they can start high and always lower the price
- Loss of perspective because the seller is emotionally involved
- Expecting the home to sell for more than fair market value because they need the money
- Agents who will accept a listing at any price in order to tie up the property until the seller realizes the price is too high
What a seller paid for the home or the cost to rebuild it today do not affect market value. Neither does the amount spent by sellers on certain improvements that were made for their own pleasure and enjoyment.
It is unrealistic to expect a buyer to pay more than market value for a home. The seller sets the price of a home but the buyer determines the value. If the home is priced properly in the beginning, it is more likely to sell for a higher price, in a shorter period and with less problems.
At Real Estate Experts, we are skilled in analyzing the market and in pricing homes for sale. If you want a detailed analysis for your home, contact us and speak with one of our experts.
by brad | Nov 3, 2017 | Sellers, Selling a home, Selling your home
When the weather gets cooler, typically the real estate market slows down. Spring, after all, is the best time to buy and sell a house. However, fall the second best season to list your home. Selling your house in fall or winter is not necessarily bad timing. While we are half-way through fall, there’s still time! Even though fall and winter are slower times in the real estate world, listing your home during this time of year means less competition on the market. Homes can even sell faster during the winter, for some reason. Besides, there’s less of a need for landscaping at this time of year!
Are You Considering Selling Your House in Fall or Winter?
If you’re selling your home during these seasons, here’s what you need to know.
- Still be wary of seasonal decor or too many personalized decorations however do embrace fall
- Highlight seasonal positives (if you have a nice fireplace, etc)
- Regardless of whether there’s less of a need for landscaping or not, keep up the curb appeal (blow leaves, etc)
- Basically, turn on every light ever for all showings
- Prepare your home for showings (fall smells are wonderful, don’t burn candles, this may not be safe when you leave your home but a fall potpurri can add just the right touch. If you are lucky and you get a second or third showing, pull out all the stops and bake chocolate chip cookies. That is a lovely touch!
Find Your Real Estate Listing Expert
A professional realtor is your best ally in buying or selling a home, no matter what the season. The marketing materials on your house are more important now than ever, thanks to mobile technology that allows buyers to search homes on their phones or tablets. Using professional photos, a virtual tour and using a fantastic description boosts the chances of your home selling. At Real Estate Experts, we’re ready to give your house marketing something extra.
As a buyer, having a trusted real estate professional (agent or buyer’s agent) will increase your chances of winning a bidding war. With low inventory on the market, bidding wars are commonplace. Buyers agents are a buyer’s best friend in a market like this because they have sole responsibility to the buyer and can provide the ultimate amount of information.
If you are interested in learning about available properties in the greater Triangle area, visit us online. Call us today at 919-813-6449 or e-mail us at [email protected] for additional information.
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by brad | Oct 18, 2017 | Home Improvement, Selling your home, Uncategorized
Fall is a great time to consider home renovations. Why? The real estate market tends to slow down as the cooler months come in. And thanks to our amiable fall weather, renovating and making home improvements in the Fall is feasible.
Consider making renovations during the fall, even though there’s a bit of a scramble to get things finished in time for the holidays. But with that being said, if you’re working to get your house spic-and-span to get it on the market for the spring, it isn’t a bad idea to let the builders in during this time. Especially as most projects have a deadline before the holidays, making builders and contractors a little more open for scheduling. If you’re considering new construction, building an addition, or a kitchen renovation project, Fall might be the perfect time.
If you are considering making home improvements, one of the primary considerations will be the potential return on investment.
Let’s Talk Return on Investment
Remodeling and renovation projects are two great ways to improve the living quality in your home. They also help improve price, comfort, and value of your home! Who doesn’t like the sound of that?
Here are some common types of home renovations that will give you an idea of what sorts of updates people might be interested in.
So, it’s pretty easy to see that painting is the most common renovation project. What’s fortunate about that is painting is relatively easy to do, fairly inexpensive, and it’s something you can do yourself.
In the Southeast, flooring renovations are also very common. Buyers love hardwood floors or even bamboo.
What Should You Spend?
What you might not like the sound of is the organization or financial burden of actually getting a head start on these projects. It can be disconcerting to think about much much money you’re going to put into a project, for sure. But, where there’s a will there’s a way!
It’s important to recognize why and what you’re spending your money on, too. It makes a little more sense to shell out some money if you’re prepping to sell. The average price of improvements people make on their homes before selling hits almost $6,000. We have worked with clients that spent a lot more than this. Planning to prepare your budget around a similar number will save you from overspending on renovations, or not doing enough. Staying ahead of the curve while you are living in your home and improving it along the way, makes putting your house on the market to sell that much easier.
If your home renovations are planned with the intent to sell at a later date, it’s best to focus on what you can do to simply update the look of your home instead. Aesthetic updates are least likely to thin out your wallet, with the average price lingering just under $3,000. While this is a huge motivator for most people to jump on the update wagon, thinking about what you’re renovating your home for, how much the ROI will be, and what’s in your budget will lead you to more satisfaction.
Not to mention, bang for your buck. By sticking with your budget, you won’t over spend and you’ll see the best results for your renovations.
Real Estate Experts
A trusted real estate professional will be able to walk through your home, and make suggestions as to what kind of improvements would increase your home’s value. They’ll be able to help you decide which projects are worth your time, budget, and attention. With our expert staging advice, collective real estate knowledge and history in the area, Real Estate Experts can help you discover the best renovations to make on your home.
If you would like more information about major or minor home improvements and their expected ROI, contact us today at 919-928-5131 or send us an email to [email protected]. Visit us online at realestateexperts.net.
by brad | Oct 10, 2017 | Home Improvement, Selling your home
Owning a home is one of the biggest investments you will ever make. When we work with buyers, we are not only trying to help you find a home you love, we want to make sure you are making a good investment as well. The same thinking should be applied to when making home improvements. We love it when our clients ask our opinion on the best home improvement for resale. It is always important to not only do something you will want to live with, but keeping an eye upgrades that will help sell your house.
Here are 7 home renovations to consider that will give you a good return on investment and won’t cost you an arm and a leg. You’ll be glad you made these home updates when it comes time to sell your home.
1. Don’t let your utility bills soar — Increase the Energy Efficiency of Your Home
You can get an energy audit to check out how sustainable your home is. A lot of utility companies will offer them, so why not take advantage of the service?
Electricity prices can be high, and utility prices a turnoff for potential buyers. Even though in comparison, North Carolina’s 
residential electricity rates aren’t in the top ten highest… there’s always a way to make a home more attractive to a potential buyer. Help them out by considering appliances that save energy.
Buyers in all price ranges look at utility costs. This is something buyers factor into their monthly payments. Making such improvements as adding additional insulation; getting a high efficiency furnace when it is time to replace your HVAC system; installing LED lights throughout your home; and getting Energy Star appliances are just a few types of home improvements that are good for you the home owner but are also great upgrades to sell your house.
2. Renovating Your Kitchen With Give You The Greatest Bang For Your Buck
The kitchen is a serious selling point for potential buyers. Gone are the days of simplistic kitchens with generic countertops, bland cabinets, and out of date appliances. Hey, a double oven is a beautiful thing and stainless steel is drool-worthy. If you have space for an island, buyers love these too.
Buyers like kitchens that are open to a living area and buyers in all price ranges like granite and stainless steel appliances.
Consider checking out some of the latest kitchen trends (is granite out as a countertop?) to make sure your house will have some allure in the kitchen. Updating your kitchen can add some value to your home, and bump up the price before you sell.
Besides, who doesn’t love a beautiful backsplash?
3. Ask Siri
Smart technology has been making its way into homes for a while now. If you’re about to put your home on the market, it’s a great idea to look into what sorts of smart updates you can make.
Replacing your thermostat? Kill two birds with one stone by installing a smart thermostat that saves energy. Lights, doors, security systems, and home assistants like Siri or Amazon’s Alexa give your home a high-tech feel that appeals to a generation who grew up with smart phones.
4. Remodel Your Bathroom
Bathrooms are a source of serious return on investment, they are second best to kitchens. If you update your bathroom while you’re getting ready to list your house, there’s a great chance your investment will pay off. New lighting, fixtures, vanity tops and cool mirrors all count. Sufficient storage space is important as well. If you can afford to upgrade your tile, that counts too but you might just need to work with what you have. That is ok too.
Consider the condition of your shower, too. It’s tough to get rid of lime stains and mold. If you can refinish your shower and tub, it’s probably best to do so.
Bathtubs, showers and vanity tops can be reglazed! This is a great way to save money and have things look really fresh. If you want to know more about this, just give us a call or shoot us an email. We are happy to explain this and share picture.
Alternatively, consider remodeling your bathroom with a theme. This year, the “Mediterranean” theme has gone viral.
5. Pay Attention to the Attic
Here’s a surprising little statistic: fiberglass attic insulation comes with over 100% ROI. Who knew, right? This update not only lowers your heating and electricity bills, but it also gives your attic a refined look. Face it, sometimes we neglect our attics. This means insulation might show wear and tear, which is something a lot of potential buyers might see as a turnoff.
While you’re up there, can you install solar vents? They’re less expensive than installing an attic ceiling fan, and worth the consideration to improve house circulation.
6. Boost Yard Beauty
Curb appeal is huge. If you’ve got a beautiful garden, stunning lawn, and new coat of paint on your home, you bet it’s going to attract more people! It pays off to consider updating the exterior of your house before you’re ready to sell. You can’t make a first impression twice!
Teaming up with a professional landscaping service will make your home look picture perfect from the road. What’s more? It’s know to boost your home’s worth up to 17%.
7. The Very Biggest Bang For Your Buck is Paint and Carpet
Modern paint colors and new carpet go such a long way. These are two of the best home improvements for resale. Don’t use too many colors in your house and make sure the color palate all works together. Today, the hottest colors are in the gray family and those colors that work with gray. Many people don’t know about Greige. What is this? It is a color that depending on the light can look towards the grays or the tans. They are wonderful colors because they are versatile.
Real Estate Experts
Unsure of what updates to make before selling your home? Or, alternatively, do you need a hand finding the best contractors for the jobs? Real Estate Experts is here to help. Visit us online. Call us today at 919-928-5131or e-mail us at [email protected] for additional information.
by brad | Sep 27, 2017 | Buying a home, Real Estate Experts, Selling your home
Hold on, what’s a boutique real estate firm?
Boutique real estate firms aren’t necessarily what you might think. The word boutique often makes people think high end, expensive, or even unapproachable. Think again!
These real estate firms are, simply put, specialized businesses who focus on customer service, professionalism, and client relationships. Instead of a generic real estate transaction, boutique real estate firms are committed to providing the best experience and representation possible to their clients.
Buying a house is one of the most expensive things you’ll ever do. The investment is worth taking the time to find the best representation possible. With a boutique firm, you can be sure you’ll get a whole team of real estate professionals working to find you the house of your dreams.
How are boutique real estate firms similar to big companies?
In truth, there are a lot of differences in boutique real estate firms and big companies… but that doesn’t mean there aren’t similarities.
- Both use Multiple Listing Service in the representation of houses they’re marketing. What does that mean? Everyone has the same access to properties on the market.
- Thanks to this, much of the technology provided to clients and customers is the same. Real estate professionals use the MLS system, and a lot of the technology that comes with it. Since both big firms and boutique firms have the same access to the MLS, they can provide their customers with the same technology.
- Online marketing offers the same outlets for both big companies and boutique real estate firms. Think Trulia, Realtor.com, Zillow, and all the other online house hunting tools. This means your property will be marketed in all the same places, with the same representation.
So, why should you pick a boutique firm instead of a big company? Just because you can be in all of the same places, a very important question is how you will be there and how will your property be represented?
Five reasons to use a boutique firm instead of a big company
1.) You’ve got a whole team representing you
You know what’s better than one head? Two! Boutique real estate firms are made up of a team of real estate professionals who work together to represent their clients to the best of their ability.
2.) Personalized customer service is at your fingertips
There’s a huge sense of care, attention to detail, and desire to succeed in a small boutique firm. Wouldn’t you pay the utmost attention when it’s your name on the business cards, and it’s your reputation? With that much emphasis on customer service, you can be sure your property won’t get lost in the sea of other homes for sale.
Boutique firms also care more about their clients than building a business empire. Larger companies work to produce empires, boutique firms work to produce community.
3.) Boutique firms have local authority and a big local network
Since they’re founded locally, boutique firms are typically made up of real estate professionals who know their territory like the back of their hands. They’ve crafted a great network of other professionals who can help you, too. Need a property manager? Your boutique real estate firm can help. Need a utilities company? They’ve got you covered, too.
4.) There’s quality in the quantity of experience
Smaller firms like boutique real estate firms have less incentive to “go with the flow” and produce results in terms of numbers. Instead, the real estate professionals work in the best interest of the client while working with experts in a variety of fields thanks to their large networks. With a smaller firm, agents can connect with the brand and have a personalized interest in the culture of the firm they’re representing.
A hiring manager or owner of a boutique real estate firm is going to pay attention to the professionals they hire. You can expect quality in the quantity of team members.
5.) Owners and real estate professionals of boutique firms are passionate about their business and culture
Boutique real estate firms care about their reputation. Members of the firm are passionate about their brand, culture, and customer service. They’re excited to show their attention to detail and excellent representation. And yes, they’re excited to show you they can and will compete with the big firms.
What’s more? Boutique firms have the ability to do their own “thing”. They can be innovative, they’ve got flexibility, and their work is fueled by a love for what they do.
Real Estate Experts
Acquiring real estate is a complex business. Mistakes can literally cost you thousands of dollars or the missed opportunity of owning the home of your dreams. As a buyer, you are always in competition with other buyers who also are looking to buy their dream homes.
There is a vast difference in the level of expertise and quality of service provided by real estate agents. Give yourself the advantage of working with Top real estate agents at Real Estate Experts and get the following value-added services that will make a big difference for you!
We have helped hundreds of families move over time. The depth of our experience is a testament to our expertise and negotiating skills that give our clients a major advantage over buyers working with other agents.
Real Estate Experts are here to help. Visit us online. Call us today at 919-813-6449 or e-mail us at [email protected] for additional information.
