Just changing agents won’t cause you to sell an overpriced listing

I showed a property recently that was on the market for the better part of a year, and it was about 35% over the current market for a similar property. Of course, it didn’t sell.  It went off the market, and then came back on at 25% over the market.

The second agent fluffed up the description to make it sound like it was really a bargain. She says it’s, “Completely gone over!”  What does that mean?  It meant that the owner painted, hung one ceiling fan, had the floors refinished and changed the kitchen sink. That’s nice, but it’s still 25% over the current market, even with a reduced price.

This is a topic that gets a lot of airtime on Active Rain and other Realtor blog sites. Friends, please be honest with your clients. A house that is 25% over the current market is going to sit, get stigmatized and end up in the hands of another agent in six months. For some companies it’s all about market share. The more listings they have, the more successful they look. Maybe, but if they never sell, that also gets around.

We’re in the home selling business. If we’re not selling these homes, we’re in the home babysitting business, and unfortunately, unlike when you’re babysitting for extra money during the 9th grade, it doesn’t pay well. You are more likely to have potential future clients look at your listing sign month after month and decide you don’t actually sell homes. You just plant signs like Spring flowers. I know, I’ve had my own garden.

Just like a hundred posts before this one, let me urge you, please don’t take overpriced listings. Overpriced listings are for FSBOs. We’re in the business to move real estate. If we price it right, they will come. If they come, we will sell. If we sell, the market will recover.  When you’re ready to sell, call Cornerstone Business Group, Inc.

Just changing agents won’t cause you to sell an overpriced listing

You don’t need to be afraid . .

 

My morning routine is pretty simple.  I get up, turn on the coffee, read Active Rain, scan the national news on TV, shower and head to the office or somewhere.  When I was scanning the news this morning I heard the exact same statement twice.  The commercials said, “You don’t need to be afraid . . .”

That made me wonder.  Why would multiple commercials for different Fear can paralyze you, or fear can motivate you.products use that line?  Are we a nation that is becoming afraid?  Or, has the marketing industry seized upon an undercurrent of concern that is in our national psyche?  Politicians use fear to get your vote. One side swears the other side is going to take your Medicare, and the other side says the other guys are going to take more taxes.  “Vote for me and I will protect you!”  It’s marketing, and in the political scene it’s buffalo biscuits designed to control you.  It’s fear.

Fear can be a great motivator.  This morning, I watched a surveillance video of a pharmacist pepper spray a robber.  The small female pharmacist took out the would-be robber and put him in the hospital because of the bear repellent pepper spray she used against him.  Good for her.  She should have banged him on the head in the process.

Fear can paralyze you, or fear can motivate you.  What you do with it will determine how it affects you.  It can make you cautious.  Or, it can make you bold.  Watch a mother when her child is in danger.  Suddenly, she has supernatural strength and courage.  She will go through fire to rescue her child in distress.

Fear can awaken your senses and make you alert, or it can make you make you cower and hide.  The commercial is correct.  You don’t need to Fear can paralyze you, or fear can motivate you.be afraid, but you do need to assess the source of the fear and determine if it is something you are willing to confront.

Starting a new business might cause one type of fear.  Jumping off a bridge with a bungee cord attached to your ankle generates another type of fear.  When you have determined the source of the fear, you can determine your response.  You don’t need to be afraid.

 

You don’t need to be afraid . . 

Buying a Home in Winchester Virginia

 

Buying a Winchester, Virginia home can be exhilarating and Buying your Winchester VA homehorrifying at the same time.  It’s the single largest expense most people will accept in their lifetime.  That alone could make you want to run the other way, but STOP!  I can help you buy your first home, and we’ll have fun doing it.

There are a few things you can do to get prepared for that first home purchase.  These simple guidelines will make the process simple and less stressful.

  • Decide what kind of house you “need” or “want” before you start looking.  How many bedrooms do you want?  How many bathrooms will you need?  Do you need a basement, fenced yard, garage or a family room?  Have this information ready before the search.
  • Drive around your area and see what neighborhoods look like a place you would like to live.  Which ones can you scratch off your list?
  • Do a few web-searches on Zillow.com, Trulia.com, Realtor.com, Homes.com, FranklyMLS.com.  That will give you a little sense of what to look for when reviewing listings.
  • Call Cornerstone Business Group, Inc. You will need an experience Realtor to help you gain access to the homes that you ultimately want to look at, and your Realtor can help you see things you may not have enough experience to see.
  • Ask your CBG Inc. agent for recommendations on Lenders and make an appointment.
  • Have the lender do a summary of your financial situation and qualify you for a purchase of $XXXXXX.  That will help you know what price range you should be looking in.
  • Link up with your CBG Inc. agent and start the search in the local MLS, pick your favorites and go take a look.
  • Have your CBG Inc.agent explain the process from contract through loFirst[time home buyers in Winchester VAan to closing.  You will have a time-line to work details out.  Your CBG Inc. agent can get your ready to take that journey.
  • Move in and recommend CBG Inc. to all your friends. 

Buying a Winchester, Virginia home can be a great experience if you follow a few simple guidelines.  Let’s get together and make it happen today!

 

Mark Peter Lynch, your Winchester Virginia Lending Superstar

Having a good team behind you is half the battle in business.  As your business grows, it becomes imperative to have others who can help shoulder the load and keep the momentum building. In real estate, that is not only a solid agent staff and assistants, but it also includes lenders and closers.

One of my favorite go-to people is my preferred lender, Mark Peter Lynch of Residential Mortgage Services. Mark and I have worked together for about six years now, and I can honestly say, Mark shows his superstar status again and again.

In late August, a closing I had scheduled was thrown off course when Wells Fargo withdrew their loan approval. It wasn’t because my client wasn’t qualified, but rather, it was because the investor/homeowner ratio on a condo complex exceeded their ratio limit. Right before closing, I learned that the loan was not going to go through and my client was left adrift.

The client had secured his own financing before our first meeting, so it was a done deal when we found a home for him to buy. As soon as I heard of the Wells Fargo debacle, I called Mark. Once I explained the dilemma my client was in, Mark assured me that he could get it done.

Not only did he get it done, but he got it done in record time. A little over two weeks from that Wells Fargo failure, my client is going to closing. If you are in the market for home financing or a refinance, contact Mark Peter Lynch at Residential Mortgage Services (540-664-4700). Mark is a man of integrity and skill. He will make things happen, and he will do it with finesse.

Mark Peter Lynch, your Winchester Virginia Lending Superstar