United We Stand
Together We Sold!
A Resource for Real Estate Professionals and Home Sellers
By Robert Percesepe
Copyright 2011 Robert Percesepe
Smashwords Edition
License Notes
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Introduction
Real Estate professionals across the country are challenged with one very simple goal.
We want our listings to sell at the right price, and in a reasonably short period of time. It’s interesting that most homeowners have exactly the same goals!
Over the past few years we’ve all seen the need to be particularly vigilant in the promotion and marketing of listing inventories.
The average Days on Market, (DOM) has climbed slowly upward each month over the past three years, and as foreclosure inventory increases and short sale candidates flood the market, there is a good bet that these figures will continue to rise.
I am not a statistical real estate guru. Like most real estate professionals I simply want to shorten the length of time it takes to get homes sold. The real estate ‘craft’ has experienced many radical changes in the last few years. Most of the changes are quite specific to technology, but the fundamental concept of sales is still very simple.
A homeowner with a need to sell their property is looking for solid advice, knowledge, and a keen awareness of market conditions.
Challenging market conditions throughout the country will likely exist beyond 2020 and the true real estate professional is needed now more than ever!
It’s my belief that the faster we move our inventories of properties through the pipeline, the faster the nation will move toward economic recovery. Sadly, I am painfully aware that there will be no assistance from government in reaching this goal, despite much counsel from The National Association of REALTORS®, Builders Associations, and other real estate related organizations.
I’m also convinced that this task cannot be accomplished without the deepest of commitment from both the selling agent and the homeowner. The marriage strength between the agent and the seller has never been more necessary. Clearly, there is a great reward in both parties working in harmony, and understanding that each ‘marriage partner’ has specific roles during the home sale.
As agents, the days of blasting a new listing on our local MLS and expecting a quick sale are long gone. Likewise, the belief of homeowners that they have little or no responsibility for their listing during the sales period has also vanished. A cooperative effort will go a long way in reaching a mutual goal. The purpose of this booklet is to aid both the homeowner and the seller.
By using the techniques outlined in this booklet, my hope is that a clear line of communication can be established between the real estate professional and the homeowner.
Education, preparation, and execution. These are the components to a successful transaction. Educate the seller and agent on their specific roles during the listing process. Preparation of the home for the sale, and execution of the marketing campaign that will be used to sell the home together!
I would encourage agents to provide this booklet to your sellers. You will find it to be a great tool as you maximize every opportunity when trying to put their listing at the top of the pack.
If you are a homeowner, I would suggest that you review this booklet carefully. There may be several techniques you can use without the advice of your agent, but perhaps you can use a few suggestions that may improve the marketability of your home.
Special note to the reader: This booklet has been written for those that want their listings to sell, not for those that want their listings to sit!
Many of the techniques that are outlined in this booklet are quite remedial. Some are basic fundamentals that should lead to a timely sale. My suggestion to you is to not dismiss the most obvious tools needed to get your property sold. It’s often the least complicated steps that lead to success. Although some of the suggestions I’m making are very, very simplistic-don’t overlook them! They may be the key ingredients to closing your deal!
Please note that I have not ‘invented’ these techniques on my own. I have compiled this booklet as a result of many real estate professionals that I have had the privilege of learning from over the last few decades. I cannot take credit for many of these concepts, but I do see the need to gather them into one short and useful resource. My thanks to those that planted the good ideas into my head!
My deepest thanks to those that solidified the concepts in my mind so that I can freely share them with you.
Matt Williams, Lee Gosney, Debbi Percesepe, Mike Palin, Mike Fiddler and the 2010 Graduating Class of The New York State Association of REALTORS® Leadership Academy, affectionately known as “The bAnd”.
A very special thanks to my Floyd Wickman Family.
Pre-Listing Appraisal
With market values on homes moving slowly downward, so does the need to determine accuracy on the offering price.
The only true determination of value comes from a buyer’s willingness to pay what they think a property is worth.
Thus, there are only two ways to determine the actual value of a property.
1) A legitimate offer from a qualified buyer that results in a sale.
2) An appraisal from a neutral party.
A seller’s unwillingness to accept the fact that the value of the home is less than they thought is very problematic. An agent searching for an unrealistic price is even worse! (Only now it will be compounded with an investment of money and energy by the listing agent.)
If both parties can mutually agree to hire an appraiser to determine the actual price opinion using specific research of comparable sales, much energy will be saved. Using a comparison approach, most appraisers will have little doubt in determining where the property will actually sell, thus giving the agent and homeowner a very good idea of where the offering price should be.
This service may cost a few hundred dollars, but compare it to the cost of additional mortgage payments, taxes, or homeowners insurance while allowing the property to linger for a few additional months on the market. It’s a cheap investment.
Perhaps the cost can be split by both parties and paid back to the agent out of commission proceeds. Any agreement is good!