Tuesday, November 27, 2012

Need an agent? GO Local!!


Need an agent? GO Local!!
No, not Loco – Local!


        I’ve run into and across a lot of non-local agents in recent months.  With the market getting back on track and choo choo chooing us out of the recession many homeowners are once again eager to sell.  A common mistake in the Real Estate market is simply choosing the wrong agent – the non-local.  As within any industry you are bound to know of a friend, family member or acquaintance in the business.  While this can be appealing and may seem like the easy choice, if they are not local to your property -  it is often the wrong choice.   By choosing “feelings” over your success you can easily put yourself and your transaction in Jeopardy.

“Like the back of my hand”

        It’s a term we are all familiar with; an agent with complete knowledge of your local area gives you a tremendous leg up in your sales process.  A local agent can and will answer all pertinent questions regarding shopping, schools, entertainment available and more.   Today’s buyers are savvier then ever, giving just as much importance to lifestyle as you’d expect they would give to the home itself.   Your listing agent MUST know the surroundings and what is offered in your exact location.  Having an immediate answer instead of a “….ugh… let me ask the owners and get back to you” can and will increase your odds of a successful and profitable sale.  If your agent doesn’t know or isn’t familiar with your area, how can you have faith that they will sell and market your home properly?  You can’t.


“More show = More dough”


        I personally like to show all of my listings and don’t believe in lock boxes, others do and that’s fine.  However, using an agent outside of your territory only adds time and frustration to a market that moves rapidly.  People’s schedules in these times are very different.  The standard 9 to 5 workweek is becoming a thing of the past, and if your agent is not available to show buyers when they are ready – your proverbial cart is in front of your horse.  Agents whom are not local may tell you that they are available at all times, but we need to be realistic.  There are not many people ready to leave at a moments notice for a 45-minute commute with the hopes and prayers that this will be the buyer.   A local agent can easily access and show your home when buyers want to see it, as they’re just a hop/skip/jump away.  Speed is the name of the game here sellers – closeness in proximity simply equals greater speed.



“Local agents swim in your pool”
..when you are at work.   All joking aside, a local Realtor will be “swimming” in the same pool of buyers that you are trying to entice and obtain.  An agent from Weston is not very likely to meet a buyer looking for a Parkland home, so why go in that direction?  Local offices, local media, local advertising, these are the ways we gain our cliental, and generally speaking agents are going to market and promote in the area closest to them.  Setting yourself and home up with an agent who is marketing in a different territory would be like trying to sell cars at the Parkland Farmers Market – you’re not going to have much luck, it’s just not what the buyers are looking for.  Don’t be a fool - Stay within your pool!!


    Local agents are what truly drive the Real Estate market, by knowing the area as well as recent sales trends a local agent will net you more and will be able to do so in a timely manner.   So remember, when selling... Don’t go LOCO – Go LOCAL!

Wednesday, November 7, 2012

Navigating your transition period


Navigating your transition period


         The market is heating up and the right homes are selling fast!  Recently selling a listing of mine after only 9 days on market I was asked by an immediately anxious seller…“What do I do now”?  It’s a common question whether you’ve been on the market 9 days or 90.  Homeowners, in general, have settled and are often not ready for the transition to a new home or living situation.  Keeping a few of the following things in mind should, hopefully, make it less stressful for you and your family.

Become a Tenant!

         If you don’t have your next home under contract or already purchased, I recommend finding an acceptable short-term rental once you’ve gone to contract and passed inspection and appraisal.  You don’t want to rush the purchase of your next home, and delaying a closing because you’re unsure of your next step can be risky and costly.   A perfect scenario would be a furnished short-term rental, which you could occupy while you search for your next home.  The simplicity of a furnished unit is great, nothing to move!  An open-ended lease option will also allow you to relax and negotiate with less emotion when purchasing.   You don’t want to be “pushed” to buy due to current living situations.


Pull out the ole’ Piggy Bank!

         If you’re lucky enough to still have equity in this market, be sure to put your proceeds in safe keeping during your transition time.  No matter who you are, an injection to the bank account can be tempting.  A great idea is to keep your net proceed funds in escrow with your broker or title agent.  Most of these funds will probably be used on your next home purchase anyway and doing so will give you the ability to go to contract with pre-deposited escrow funds.  Cash is tempting; protect yourself from you.  You don’t want to be looking at your new Rolex at your next home closing wondering what you can hock it for. 


Having to Downsize?

         The phrase I seem to use most often in this market is, “relax, you’re not alone”.  If you are in an unfortunate situation and have to leave your home for financial reasons, keep one thing in mind.  You are NOT alone.  We should all be aware by now of the hardship most of America is under.  Moving forward with the sale of the home should simply be seen as closing a chapter of your life; make it a relieving moment rather then a mournful moment.  Life moves forward, not back.. One of my favorite quotes is “It will all be OK in the end, if it’s not OK, it’s not the end”.  Keep this in mind as you move forward, downsizing is simply a move, not a basis of personal character.


     No matter what your transition period involves, it is likely to be stressful without preparation. Anything in life without proper preparation is simply a risk.   Get your ducks lined up and you’ll sail through your transition period!!