Real Estate Agents Giving Sellers False Hope On Market Value

Real Estate Agents Giving Sellers False Hope On Market Value
Inventory in many areas is low – extremely low, in some locations even historically low. Real Estate agents telling sellers that they can sell their home at an unrealistic price just to win the listing is nothing new but, it becomes more prevalent when low inventory is a current market trend. Low inventory is a positive factor for sellers, it all comes down to supply and demand, but, when inventory is low some agents take the path of telling a seller whatever they want to hear just to get the listing.

In a seller’s market having more listings is something agents covet. Why wouldn’t they? Homes in Northville, Mi. that are priced correctly and located in sought after neighborhoods are seeing multiple offers. Competition for a listing from multiple buyers is a listing agents dream. The sellers are thrilled and the agent is too, contingencies waived, offers above list price … you get it. The dark side to this type of market is real estate agents not being honest about what a home’s current market value is. Market conditions change gradually and that includes rising prices. They don’t jump up by for example $50k overnight. Properly pricing a home comes from studying the comps, current market conditions, condition of the home, location of the home etc. It does not come from an agent’s opinion of what it will sell for just because there aren’t other homes to pick from. Pricing is one of the most important components of a successful sale and if you get it wrong from the start it’s not going to be pretty for the seller.

I met with a seller a couple weeks ago and they were upfront that they were interviewing multiple agents. I expect pricing recommendations to vary and am never surprised if there’s a difference of $10k - $20k. Pricing isn’t based of a set formula and when that’s the case there will always be some type of variance. In this case however, I was blown away when the seller told me that there was a difference of $100,000 if they looked at the lowest price suggested and the highest. WHAT? I always try to put myself in the seller’s shoes and if you’re looking at your bottom line thinking you could have $100k more in your pocket I can understand why that would make you want to list with the agent that suggested that price. That’s a lot of money! However, the market prices your home and buyers resist overpriced homes, I don’t care how low inventory is. If there isn't data to back up the price you're headed down a costly path.

Telling a seller what we think they want to hear just to win a listing is beyond unprofessional and against the code of ethics. That said, it happens regularly and unfortunately is more prevalent with the current market we’re in. For the ethical agents this is frustrating to say the least. We have a responsibility to be honest and provide a realistic market value for the home. It’s not an opportunity to toss an outrageous price against the wall just to win the listing.

As a seller going with the agent who says they can sell your home for the highest price doesn’t mean you’re making the right decision on who is representing you. Your home is only worth what a buyer is willing to pay. Review the numbers each agent provides and ask them to explain how they arrived at their suggested list price. Agents who are recommending a realistic price will be able to go over every detail to show how they arrived at the price. Think about the cost of your home sitting on the market. I always compare it to stale bread – no one pays top dollar for stale bread. The longer your home sits on the market the less you’re going to sell for. Dropping the price until buyers see the value is a sure way for a seller to leave money on the table.

❤️🏡🔑Holly Hurd ~  Berkshire Hathaway HomeServices HWWB, REALTORS......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthville Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket #realestateforsalemi #hometown #hollyhurd #home #homesforsale #historicnorthville #buy #buyingahome #buildingahome #buyrealestate #condo #northvillemi #sellyourhome #sellingyourhome #smalltown #shop #bhhs #berkshirehathaway #moveinmichigan #greattimetobuy #puremichigan #SOLD

Don't Be The Listing They Talk About For All The Wrong Reasons

" There's no such thing as bad publicity. "

Would you consider this a true statement? Is all publicity good for business?

"The only thing worse than being talked about, 

is not being talked about."   Oscar Wilde

Certainly in some professions it may be true.  In Hollywood and in Washington publicity used to be the stepping stone to success...getting all the attention they could until their name became a household word. The more attention the better.

Today not so much.

There are many high profile people out there today praying that they don't see their name next in the headlines.

In the real estate business your reputation is everything. Bad publicity has never been a good thing for an agent. Negative feedback has never been a good thing for real estate listings. Recovering from either is not easy and very costly.

Home buyers are an unforgiving bunch...quick to pass judgment. They focus on every aspect of your home's condition and appearance.

It's very common for buyers to nickname homes as they search for the one of their dreams.

Being the one that buyers (and other agents) are talking about is only a good thing if what they are saying is positive.

Will your listing be the one they applaud with high praise or will it be the one they remember with their eyes rolling up as they make fun of it to others.

You don't want to be the "what were they thinking?"  listing.  

You want to be the listing they can't stop thinking about. 

Preparing and presenting your house PRIOR to listing

will guarantee the best results!

Don't be the listing they talk about for all the wrong reasons. 

❤️🏡🔑Holly Hurd~ Berkshire Hathaway HomeServices HWWB, REALTORS.......your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket #realestateforsalemi#hometown #hollyhurd #home #homesforsale #historicnorthville #buy#buyingahome #buildingahome #buyrealestate #condo #northvillemi#sellyourhome #sellingyourhome #smalltown #shop #bhhs#berkshirehathaway #moveinmichigan #greattimetobuy #puremichigan#SOLD

3 KEYS TO SUCCESSFULLY SELLING YOUR HOME

by HOLLY HURD

What are the 3 Keys to Successfully Selling a Home?
When it comes time to sell your home, most home sellers want to sell their home fast and for top dollar. Really, who wouldn't? Selling a home has a lot of facets to do it right and no homeowner wants their house to linger on the market. But, I bundle those steps down into the 3 keys to successfully selling a home.

What are the 3 Keys to Successfully Selling a Home?

Step1 —>Preparation

This is the first step because the preparation of your home can also impact the ultimate sale price of your home.

First and foremost, every house should have a deep cleaning, thorough de-cluttering and be completely de-personalized. These 3 steps should never be skipped, on any home if you are looking for the maximum return on your home upon a sale. Not only will these have a huge return, they are all free! It just may require some time.

Next you are looking at if any major repairs need and should be done. To maximize your net proceeds upon closing realize you need to have the major systems and structure of your house in serviceable workable condition.
A pre-listing home inspection is a good step to take.

Fresh paint of a current neutral pallet will also give you large returns. Nobody will complain about a freshly painted neutral wall color. That is just one more item the home buyers can knock off their to do list.

Home staging is a big buzzword. Consider a home staging consultation. A home stager will certainly discuss with you the items above but will also make suggestion about "merchandising your home". merchandising your home will make it more appealing to the buying public. Home staging is about highlighting the attractive features of your home and downplaying the negatives.

Properly preparing your home is critical to maximizing returns. Not only are you providing a turn key property, you are increasing value and broadening the appeal of your home.

Step 2 —-> Pricing Your Home Properly

Getting the proper price on your home is the single most important factor in getting your home sold in a reasonable amount of time and for top dollar. It will also lessen your stress and frustration you will feel when your home is not selling.
Determining the correct list price for your home in most cases is pretty straight forward, but many times is clouded by misinformation and emotion.
Ways not to calculate value:
* -Listening to your no it all neighbor about what your house is worth
* -Listing at what the Zillow Zestimate calculates
* -Using your assessed value as market value
The proper pricing of your home is determined by data. The data will include recent, past history of similar homes that have sold in your area. Typically a real estate agent will prepare a comparative market analysis showing you the comparable homes that were used. There will be a value range with an opinion of where you fall in that range based on your homes criteria.

Overpricing your home will ultimately have a detrimental effect on selling your home. Proper pricing is 80% of selling your home. No amount of preparation or marketing will sell a home if it overpriced. You can get everything else right but get the pricing wrong and your home will stagnate on the market.

Step 3 —> Presenting Your Home to the Market

Presenting your home to the buying public is how you will market your home. Most of this will fall on your REALTOR with the systems they have in place.
While there is many aspects to marketing your home the single biggest piece of marketing is high quality photographs. Most of your marketing whether it is social media, the MLS, property brochures, etc... start with photography. It is key you have professional high quality real estate photography of your home.

If you make sure these 3 keys to selling your home are covered you will certainly have a successful home sale. If you miss one of these steps you could be in for a long haul.
Call me today to get started
Holly Hurd

(734) 718-5736


http://hollyhurd.smarthomeprice.com
CHECK OUT THE LINK ABOVE FOR MORE INFORMATION

#realtor #realestate #realestatemarket #realestateforsalemi #hometown#hollyhurd #home #homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #northvillemi #sellyourhome#sellingyourhome #smalltown #shop #bhhs #berkshirehathaway#moveinmichigan #greattimetobuy #puremichigan #SOLD

THREE BIG MISTAKES FOLKS MAKE WHEN THINKING ABOUT A HOME PURCHASE

MISTAKE #1

Falling in love with a home before determining how much they can afford.

It’s always fun to browse on line or stop by open houses, but when it’s time to get serious it’s important to find out where you stand financially.  It’s hard to compare the $400,000 home that you loved to the $200,000 home you can afford! 

Don’t let this happen to you! 

Talk to a lender, be open and honest about your situation.  If they don’t ask to review ALL of the financial documents that could have a bearing on your approval, move on.  Find a lender who will help you to navigate the process.  Find a lender who will review your credit score to see if there are any steps you can take to improve your scores for a better loan.  Find a lender who cares about you and helping you to get the best loan

ASK QUESTIONS!

Mistake # 2

Considering the maximum they qualify for instead of what their comfortable monthly payment might be

Consider Your Lifestyle-Don’t be house poor!  What do you like to do?  Go out to eat, special hobbies, kid’s education, savings?  What additional expenses are coming up? New car, new baby?  In-laws moving in?  Will you be getting a raise? A new job? A second income? An inheritance?   All of these things should be considered.    

What is comfortable? Only you can answer this question!

Don’t forget to speak to your tax advisor about the tax benefit of homeownership, this may help stretch the budget.

Speaking of budget, that leads me right to the third mistake.  

MISTAKE #3

Failing to budget.  

You may be amazed at how many bank statements I review that the outgo matches the income almost to the penny-Starbucks every day, McDonald’s, Old Navy, Target.  Folks forget to save money.  $5 here, $10 there adds up and could keep you from buying a home that you love! 

TIP:  Overdrafts can be a loan killer…keep track of those purchases and DON'T overspend!

Many folks thinking about a home purchase consider the down payment (Did you know you DON'T need 20% down to buy?), but they don’t consider out of pocket expenses, earnest money deposits, appraisals, home inspections.  They forget about the cost to purchase including closing costs, prepaid expenses and setting up escrow accounts for homeowner’s insurance and property tax payments. The seller can contribute toward closing costs, if negotiated into the contract.  How much they can contribute can depend on the type of financing.

In some cases, owning a home will cost less than renting.  In others, folks are moving up and moving out…this means more monthly and bigger annual and one-time expenses than you may be used to, more maintenance costs and higher utility bills.  Don't forget about those unexpected expenses when something breaks down or needs replacing, you won't be able to call the landlord!  Budgeting is key to being ready for home ownership!

If you are thinking about buying in a month or in a year, talk to a great lender in your area to find out where you stand and what steps you can take to be MORTGAGE ready. 

Holly Hurd~ 

Is a REALTOR with Coldwell Banker Weir Manuel
in Northville, Michigan 48167
#1 Firm in MICHIGAN

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #homerocks #YourHome

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate #reaestatemarket #realestateforsalemi#hometown #hollyhurd #home #homesforsale #historicnorthville #buy#buyingahome #buildingahome #buyrealestate #condo #coldwellbanker#northville #northvillemi #sellyourhome #sellingyourhome #smalltown #shop#cbwm #cbbelieves #moveinmichigan #greattimetobuy #greattimetosell#sold

Coldwell Banker Weir Manuel Blue Matter / The part of the brain that thinks about real estate

COUNTERTOP STYLE

by HOLLY HURD 

Realtor Coldwell Banker Weir Manuel

Choosing the right countertop can be a daunting task. It's an investment that can give your house the boost it needs, but you want to make sure you're making the right decision. Quartz is a great option because it doesn't require sealing and resist stains. Granite countertops require sealing, but are a very popular choice. Marble counters often need to be resealed, are  not very stain-resistant and scratch easily. Here are some other tips to help you with the process:

- If you're going with concrete counters be sure to hire a professional. Also, ask them for references from jobs completed at least a year or two ago. 

- Make sure you hire an installer that is manufacturer certified. If not, the manufacturer might not cover the work if there is a problem.

- Stone, concrete, butcher block, and the grout between tiles need to be sealed to resist stains. Some may also require resealing.

- Test  if it's time to be resealed by putting a few drops of wanter on the stone near the sink. Let it stand for 15 minutes. If the water doesn't stay in a bead it is time to reseal the counter.

- Clean stains as quickly as you can. Make sure you follow the care instructions or it could result in the warranty not covering it.

- Do all cutting on a cutting board. 

Holly Hurd~ 

Is a REALTOR with Coldwell Banker Weir Manuel
in Northville, Michigan 48167 

#1 Firm in MICHIGAN

hollyhurd@hotmail.com

Sell / Buy a home in Northville,Michigan register today at

www.Northvillehomes4sale.net

Holly Hurd ~Living in the Northville, Michigan area for 40+ years , Holly Hurd is graduate of Northville High School, Schoolcraft College, Michigan State then raising her own family here Holly Hurd has first hand knowledge and knows the area quite well Please feel free to contact her for all your real estate needs #spring #YourHome

Northville Michigan Real Estate
Homes for sale in Northville Michigan Northville, Mi. 48167
#bombogenesis #realtor #realestate #reaestatemarket#realestateforsalemi #hometown #hollyhurd #home#homesforsale #historicnorthville #buy #buyingahome#buildingahome #buyrealestate #condo #coldwellbanker#northville #northvillemi #sellyourhome #sellingyourhome#smalltown #shop #cbwm #cbbelieves #moveinmichigan#greattimetobuy #greattimetosell #sold