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In today’s internet driven market, online home presentation is a critical factor in getting buyer’s in your home and an offer on the table. When you look around your home, what you perceive as personality may be a turn off to potential buyers. Below are 6 key steps in getting your home to appeal to the largest number of buyers and which equates to lesser time on market and higher offers.
1. Pre-pack, pre-pack and pre-pack some more. If you are moving you may as well pack away all unnecessary items. Excessive clutter asks potential buyer’s to focus on your stuff instead of the home. If buyers cannot visualize the way they would live in your home you have lost them. Take photos of key rooms, print them out and look at them to see what your eyes are drawn too and if the room presents like you want it too. If not, move around items or design a focal point you want to draw their attention too.
2. Showcase the key selling features of your home. If you have a dynamo kitchen, de-clutter the counters and take photos from every angle. If you have a stunning view, do not obstruct it with furniture and large window treatments and make your windows shine. Likewise if you are drawing buyers to your view make sure when you look out your window the landscaping is in tip top shape.
3. What you do not want a buyer to say when they look at your online photos, “Wow that is bright paint!” or “Look at all that wallpaper.” To a buyer, bright paint or wallpaper in any room equates to more work for them. Of course it is more work for you to paint or remove wallpaper but in a tough market you want to take every feasible step to beat out your competition and drive potential buyers to your home.
4. Take a close look at your main entrance and any other doors buyers will be entering and exiting. You only have one chance to make a first impression so make sure when a potential buyer is standing at your front door waiting for it to be opened they are not looking at peeling paint, dead plants or cobwebs. A clean swept and freshly painted porch is sure to showcase your home better than last season’s dead geraniums.
5. Walk around your home with a critical eye of a buyer and real estate agent. Make sure rooms you may not use often have a purpose and showcase that purpose.
6. Last but not least…clean like you are in the cleaning business or hire someone to do it if you do not like to clean. A dirty home for a buyer equals a home that in not taken care of.
I personally love to help my Seller’s transition their home from their personal space to one that can appeal to potential buyers. Keep in mind that although you still live there, your goal is not to, the suggestions from your Realtor® or staging professional are meant to help you sell your home. There have been many times I have heard from buyers that they did not even want to look at a home after seeing the pictures. Don’t let that be your home.
If you are thinking about selling in the future, and want to start preparing your home for sale, I welcome your call and look forward to helping you.
Wednesday, October 6, 2010
Thursday, May 6, 2010
Lake Property Waukesha County, Wisconsin
Now is the time to purchase lake property in Waukesha County, Wisconsin!
While taking a close look at the lake property inventory compared to the sold listings within the last year I realized that now is one of the best time for buyers interested in Waukesha County lake property to make a purchase.
Foreclosure properties on the area lakes have increased and we will continue to see foreclosure lake property in this market place. What does this mean for the buyers? #1 the foreclosures, short sales and anxious seller’s are driving the market down. #2 interest rates are still low and the return on investment will be high when buying low. #3 buyers will have and excellent selection of properties because inventory is at an all time high. See below for an example of actual lake property sold prices compared to list price and assessed value price. All data listed is from Metro Milwaukee MLS and tax records:
Pewaukee Lake
N37W26719 Kopmeier Dr Pewaukee, WI (foreclosure)
List Price: $1,600,000
Sale Price: $1,265,000
Tax Assessed Value: $1,494,100
Okauchee Lake
34270 W Road Q Oconomowoc, WI (foreclosure)
List Price: $995,000
Sale Price: $951,000
Tax Assessed Value: $1,087,600
Pine Lake (most prestigious area lake)
4675 N Pine Meadows Ln Chenequa, WI (foreclosure)
List Price: $1,100,000
Sale Price: $850,000
Tax Assessed Value: $906,000
The above examples are only a snapshot of our area lake market place. There is an abundance of sold and active data that is available to the consumer. There are also many new foreclosures on the market at exceptional values. Are you ready for a great deal? If so what are you waiting for? Why not enjoy the lake of your choice for the summer 2010 and the years to come.
Do your homework and pick a Realtor® that knows the lake and will work for you as a Buyer’s Agent ensuring you will get the best property at the best price.
While taking a close look at the lake property inventory compared to the sold listings within the last year I realized that now is one of the best time for buyers interested in Waukesha County lake property to make a purchase.
Foreclosure properties on the area lakes have increased and we will continue to see foreclosure lake property in this market place. What does this mean for the buyers? #1 the foreclosures, short sales and anxious seller’s are driving the market down. #2 interest rates are still low and the return on investment will be high when buying low. #3 buyers will have and excellent selection of properties because inventory is at an all time high. See below for an example of actual lake property sold prices compared to list price and assessed value price. All data listed is from Metro Milwaukee MLS and tax records:
Pewaukee Lake
N37W26719 Kopmeier Dr Pewaukee, WI (foreclosure)
List Price: $1,600,000
Sale Price: $1,265,000
Tax Assessed Value: $1,494,100
Okauchee Lake
34270 W Road Q Oconomowoc, WI (foreclosure)
List Price: $995,000
Sale Price: $951,000
Tax Assessed Value: $1,087,600
Pine Lake (most prestigious area lake)
4675 N Pine Meadows Ln Chenequa, WI (foreclosure)
List Price: $1,100,000
Sale Price: $850,000
Tax Assessed Value: $906,000
The above examples are only a snapshot of our area lake market place. There is an abundance of sold and active data that is available to the consumer. There are also many new foreclosures on the market at exceptional values. Are you ready for a great deal? If so what are you waiting for? Why not enjoy the lake of your choice for the summer 2010 and the years to come.
Do your homework and pick a Realtor® that knows the lake and will work for you as a Buyer’s Agent ensuring you will get the best property at the best price.
Friday, April 23, 2010
Real Estate Mom Post #4 (Competition)
Well it has been a long and tough week for me. I had my best 1st quarter ever in 2010 and was starting to get a little anxious about my second quarter slow down, and then the phone rang. The call was from a local bank for which I have listed and successfully sold REO properties. The caller asked if I was available to give the bank list and sale price opinions for 3 properties they acquired by deed in lieu of foreclosure. Then he warned me that the dollar volume of the properties is significant and therefore he is required to get 3 opinions on price and the board of directors will choose the listing agent. It turns out the combined property values are about $3 million dollars as the properties are located on a local lake and two are luxury properties. Keep in mind this is Wisconsin and that is a significant dollar volume for the area.
Needless to say I was pumped! I have successfully listed and sold properties for this bank and they have been happy with my professionalism, service and pricing accuracy. For me this was like the perfect storm. I have spent most of my seven years in real estate working for firms that specialize in high end properties and have extensive lake property knowledge. When the market slowed I worked like a dog doing BPO's and broke into the REO market which has helped me weather the storm of slow housing sales. I took this project on with more ambition than any other project.
The fact that I was in competition with other agents fueled me even more. No one would beat in the area of presentation data and knowledge and I would make sure of that. However politics is another matter. I knew one of the agents I was competing with was a board members son. However, his market area is in a different county where mine is the area of the properties, he does not know the lakes like I do, nor does he have an extensive marketing plan for luxury properties or experience with luxury properties. He is the owner of a small firm I work for a national firm with more web exposure and name recognition.
I had a short deadline so I worked virtually around the clock preparing property and lake data and statistics, custom marketing pieces and a comprehensive marketing plan for these properties. I knew that if I did not get the listings it would not be because I did a poor job on my presentation.
So Monday comes and I had a meeting planned to go over my marketing presentation with a detailed explanation of value and sale price along with lake data and what attributes to the different values around the lake. I prepared a separate binder for all three properties. My contact at the bank was impressed and acknowledged my organization and knowledge of the comparable sold and active listings and how they affect the values of the subject properties. Of course I was asked if that was the best I could do on commission, which luckily I had left a little negotiating room considering the dollar volume of the properties. Then he told one of the other agents would list the properties at a lesser commission and of course that included lowering the selling agent commission side. The crazy thing is I was already below 5%, I explained the detriment to lowering the selling side commission and that the national and local exposure the properties would get in my marketing plan I can confidently negotiate I higher selling price of the properties that would more than compensate for the little difference in commission.
At this point no other agents had met with him personally to go over there marketing plan nor had anyone given him a price for the properties...as you know from above only commission had been discussed by the one agent and the board was meeting the next day.
I waited, completely drained and with the knowledge I did my best. Of course I followed up and when the return call came in I was not totally surprised. The board decided to list with the other agent (the son of the board member) and supposedly due to commission. I was told by my contact that he pushed for me and felt that I would provide a far superior presentation and service to the properties.
Yes, blood is thicker than water. In business I cannot see how a whole board can be swayed by the interests of one in sacrifice to the best interests of the business. I know with faith and in my heart that I would have been the better choice and that there is a master plan that has not been revealed to me yet as to why I am better off without the listings. In time it will be revealed to me and I will write about it. For now I say, "Next!".
Needless to say I was pumped! I have successfully listed and sold properties for this bank and they have been happy with my professionalism, service and pricing accuracy. For me this was like the perfect storm. I have spent most of my seven years in real estate working for firms that specialize in high end properties and have extensive lake property knowledge. When the market slowed I worked like a dog doing BPO's and broke into the REO market which has helped me weather the storm of slow housing sales. I took this project on with more ambition than any other project.
The fact that I was in competition with other agents fueled me even more. No one would beat in the area of presentation data and knowledge and I would make sure of that. However politics is another matter. I knew one of the agents I was competing with was a board members son. However, his market area is in a different county where mine is the area of the properties, he does not know the lakes like I do, nor does he have an extensive marketing plan for luxury properties or experience with luxury properties. He is the owner of a small firm I work for a national firm with more web exposure and name recognition.
I had a short deadline so I worked virtually around the clock preparing property and lake data and statistics, custom marketing pieces and a comprehensive marketing plan for these properties. I knew that if I did not get the listings it would not be because I did a poor job on my presentation.
So Monday comes and I had a meeting planned to go over my marketing presentation with a detailed explanation of value and sale price along with lake data and what attributes to the different values around the lake. I prepared a separate binder for all three properties. My contact at the bank was impressed and acknowledged my organization and knowledge of the comparable sold and active listings and how they affect the values of the subject properties. Of course I was asked if that was the best I could do on commission, which luckily I had left a little negotiating room considering the dollar volume of the properties. Then he told one of the other agents would list the properties at a lesser commission and of course that included lowering the selling agent commission side. The crazy thing is I was already below 5%, I explained the detriment to lowering the selling side commission and that the national and local exposure the properties would get in my marketing plan I can confidently negotiate I higher selling price of the properties that would more than compensate for the little difference in commission.
At this point no other agents had met with him personally to go over there marketing plan nor had anyone given him a price for the properties...as you know from above only commission had been discussed by the one agent and the board was meeting the next day.
I waited, completely drained and with the knowledge I did my best. Of course I followed up and when the return call came in I was not totally surprised. The board decided to list with the other agent (the son of the board member) and supposedly due to commission. I was told by my contact that he pushed for me and felt that I would provide a far superior presentation and service to the properties.
Yes, blood is thicker than water. In business I cannot see how a whole board can be swayed by the interests of one in sacrifice to the best interests of the business. I know with faith and in my heart that I would have been the better choice and that there is a master plan that has not been revealed to me yet as to why I am better off without the listings. In time it will be revealed to me and I will write about it. For now I say, "Next!".
Wednesday, April 14, 2010
Real Estate Mom Post #3 (Education)
Well I have been locked in my home office for about a week with sick kids. There is never a good time for kids to get sick, however I am fortunate to be able to be here with them. There is plenty of office work and phone calls I can make while locked in the house. So I decided to do a little goal and business spring cleaning. What can I get finished on my goal list?
My CRS (Certified Residential Specialist) designation was at the top of the list. I have taken the bulk of my CRS coures almost three years prior and only needed one elective course to complete the required course work. Why did I not do this earlier..I am guilty of all the excuses in the book, the biggest being not enough time. Well, with the multitude of distance learning and course webinars, the "not enough time" excuse is really a joke. If I have time to watch the Celebrity Apprentice I can certainly find time to complete an online course that takes less than one day.
So I did it. I signed up for the NAR Short Sale and Foreclosure course. Not only did I finish my CRS, but I also received the SFR (Short Sales and Foreclosure Resource) certification with the completion of three one hour webinars that were free.
My 8 year old frequently complains about doing her homework and I tell her, "It is not my job to do your homework." However it is my job to do my homework. We preach the value of education but do we really take advantage of all there is available to us. No matter what your career or your hobbies how do you stay on top of changes or learn valuable new skills if you do not search them out. As a Realtor I feel it is my duty to learn new skills in technology or negotiating, contract changes and the list goes on and on. If you do not feel this way about your career why are you doing it? Education can provide a value and skill for the changes we all need to make in our career and personal lives. Would you want to go to medical specialist that does not see the value in research and learning new skills to better the patients health? Why are we any different.
There is a multitude of free local or online courses and webinars through your local, state or national associations. Don't think about it too much just sign up or log on.
My CRS (Certified Residential Specialist) designation was at the top of the list. I have taken the bulk of my CRS coures almost three years prior and only needed one elective course to complete the required course work. Why did I not do this earlier..I am guilty of all the excuses in the book, the biggest being not enough time. Well, with the multitude of distance learning and course webinars, the "not enough time" excuse is really a joke. If I have time to watch the Celebrity Apprentice I can certainly find time to complete an online course that takes less than one day.
So I did it. I signed up for the NAR Short Sale and Foreclosure course. Not only did I finish my CRS, but I also received the SFR (Short Sales and Foreclosure Resource) certification with the completion of three one hour webinars that were free.
My 8 year old frequently complains about doing her homework and I tell her, "It is not my job to do your homework." However it is my job to do my homework. We preach the value of education but do we really take advantage of all there is available to us. No matter what your career or your hobbies how do you stay on top of changes or learn valuable new skills if you do not search them out. As a Realtor I feel it is my duty to learn new skills in technology or negotiating, contract changes and the list goes on and on. If you do not feel this way about your career why are you doing it? Education can provide a value and skill for the changes we all need to make in our career and personal lives. Would you want to go to medical specialist that does not see the value in research and learning new skills to better the patients health? Why are we any different.
There is a multitude of free local or online courses and webinars through your local, state or national associations. Don't think about it too much just sign up or log on.
Thursday, April 8, 2010
Real Estate Mom Post #2 (Communication)
Every year I goal plan for the upcoming year. I set professional goals and personal goals. Once 2010 started I already had my goals set but, I looked back at 2009 and realized there were a few things I felt guilty about in the area of communication and needed to make some changes. I had perceived ideas of how often I should contact my clients and the amount of attention they should receive from me while I am helping them with a real estate sale on the buying or selling end. However, I failed to ask them how often they would like to be contacted and just assumed I should contact them at least once per week.
So March 2010 comes and I get a voice mail from former client asking me questions about their lot which I had listed last year but did not sell. It had since expired and was not re-listed. When I picked up the voice mail I got nervous because I felt guilty that he called me first and that I had only spoken to him a handful times while the lot was listed for 6 months last year.
I knew I was going to return the call within minutes and decided total upfront honesty about how I was feeling was the professional and personal approach I wanted to take. So I made the call and told my client that before we started talking about his lot that I wanted to apologize for my lack of communication with him last year and that I felt I had done a dis-service to him for not calling more. His response was, " I don't want you to call me all the time. If you call I will think you have an offer and will only be disappointed if you do not have an offer." That comment was a weight lifted from me. I was beating myself up about not calling him once a week and when in realty I gave him the amount of attention he preferred.
So there are two lessons I now employ. #1 if something is bothering me I use total up front honesty and address it, I may or may not get the response I would like but at least I will feel better. Or it may turn out that I was beating myself up for no reason. I cannot assume someone feels the same way I do or that I know how they feel.
Lesson #2 is to ask my clients how much communication they would like from me. This way our expectations are in line with one another. I will also follow up to make sure these expectations have not changed and that I am meeting if not exceeding the service and communication they desire.
When I look at the lessons above I realize they not only apply to my professional life but also my family life.
So March 2010 comes and I get a voice mail from former client asking me questions about their lot which I had listed last year but did not sell. It had since expired and was not re-listed. When I picked up the voice mail I got nervous because I felt guilty that he called me first and that I had only spoken to him a handful times while the lot was listed for 6 months last year.
I knew I was going to return the call within minutes and decided total upfront honesty about how I was feeling was the professional and personal approach I wanted to take. So I made the call and told my client that before we started talking about his lot that I wanted to apologize for my lack of communication with him last year and that I felt I had done a dis-service to him for not calling more. His response was, " I don't want you to call me all the time. If you call I will think you have an offer and will only be disappointed if you do not have an offer." That comment was a weight lifted from me. I was beating myself up about not calling him once a week and when in realty I gave him the amount of attention he preferred.
So there are two lessons I now employ. #1 if something is bothering me I use total up front honesty and address it, I may or may not get the response I would like but at least I will feel better. Or it may turn out that I was beating myself up for no reason. I cannot assume someone feels the same way I do or that I know how they feel.
Lesson #2 is to ask my clients how much communication they would like from me. This way our expectations are in line with one another. I will also follow up to make sure these expectations have not changed and that I am meeting if not exceeding the service and communication they desire.
When I look at the lessons above I realize they not only apply to my professional life but also my family life.
Tuesday, March 30, 2010
Real Estate Mom Post #1
I will start with a little background about myself as a basis for this blog. I turned 35 this year and have been in Real Estate as a licensed agent for 7 years. After graduating from college I struggled for several years trying to figure out what would make me happy in a career. After my first child was born 8 years ago it became clear to me that sitting in a cubicle making sales calls was not the right choice for me or my family. Who wants to ask permission to take a sick child to the doctor or vacation days when there is not school. Not to mention the three hour window of time you have to spend with your child between work and bedtime. Well one year of that and I was done.
To enter into Real Estate and leave a salary job is not without risk or sacrifice. Our family sold our first home so we would not have the mortgage pressure and me in a 100% commission career. It was scary, but I was super excited. Looking back I know I accomplished some pretty remarkable feats that first year and feel a lot of it had to do with my attitude of failure was not an option. My husband was supportive then and a great help now.
When interviewing brokerages I was asked a similar question that I get from agents today. Then the question was prefaced by the demands of a real estate sales schedule and how will I balance the family with the job. Sometimes it was more implied than asked. Now it is asked, by agents in my office and agents I have transactions with. Inevitably they see me tote my 3 kids (ages 8, 4, and 2) in the office or hear them screaming in the background when I am on the phone. When they ask me how I do this with small kids my answer is simple..."How can I not?" I can be at home before and after the school bus, they do not have to be in child care 40 or more hours per week and I do not have to ask permission to spend time with them when they are sick or if I just feel like being their Mom for the day.
I am a happy Mom and a better Mom along with being a successful agent because I love what I do. Being successful kids, family or neither is all about setting goals and a manageable schedule. My clients know I have children and I assure them that I always have time for their call or I would not answer it. I let them know that they hear my children in the background when on a call but that in no way is that a problem for me if is is not for them. I can appreciate my clients crazy schedule with kids, family and work and feel that it makes me a better agent.
To enter into Real Estate and leave a salary job is not without risk or sacrifice. Our family sold our first home so we would not have the mortgage pressure and me in a 100% commission career. It was scary, but I was super excited. Looking back I know I accomplished some pretty remarkable feats that first year and feel a lot of it had to do with my attitude of failure was not an option. My husband was supportive then and a great help now.
When interviewing brokerages I was asked a similar question that I get from agents today. Then the question was prefaced by the demands of a real estate sales schedule and how will I balance the family with the job. Sometimes it was more implied than asked. Now it is asked, by agents in my office and agents I have transactions with. Inevitably they see me tote my 3 kids (ages 8, 4, and 2) in the office or hear them screaming in the background when I am on the phone. When they ask me how I do this with small kids my answer is simple..."How can I not?" I can be at home before and after the school bus, they do not have to be in child care 40 or more hours per week and I do not have to ask permission to spend time with them when they are sick or if I just feel like being their Mom for the day.
I am a happy Mom and a better Mom along with being a successful agent because I love what I do. Being successful kids, family or neither is all about setting goals and a manageable schedule. My clients know I have children and I assure them that I always have time for their call or I would not answer it. I let them know that they hear my children in the background when on a call but that in no way is that a problem for me if is is not for them. I can appreciate my clients crazy schedule with kids, family and work and feel that it makes me a better agent.
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