While the ground hog usually is pretty good at predicting how long winter will last, I’m pretty good at predicting storms in the Real Estate market. There are many factors that go into either creating or changing a market.
1. Interest rates: How much people can afford to dish out on a monthly basis
2. Jobs: If you are unemployed you cannot afford or will be awarded a mortgage
3. Dollar: The dollar raising, increases the jobless rate in manufacturing and other areas
4. Inventory: The amount of sellers listing their house affects everything
5. buyers: How many buyers are in the market at one time
These factors are a good indicator of how our economy will prosper this year. Interest rates are higher, but lets face it, the rates are still pretty low in comparison to the past. Yes it will knock out a bunch of people out of the market, but it doesn’t mean there will not be buyers in the market.
As our dollar increases, the manufacturing jobs are lowering. This knocks people our of the market because they cannot afford to buy a bigger house but, they possibly will sell their house and downsize creating more inventory.
I believe we have an abundant of buyers out there right now from my experience, the issue for buyers are not enough listings to satisfy their needs. I believe that when we start to see more inventory there will be more bidding wars, despite all of the other factors mentioned above to slow down the market.
I’m looking for a house and I can’t because its too cold to go outside. Its a good thing that the Internet is here to help me find the house I’m looking for.
These days I go online to find a house first. I have daily updates year round sent directly to my email. Knowing that, how is your house on the market being portrayed. Are there hi definition pictures. video tour, website and is it listed on MLS?
I don’t like the houses that have distorted pictures, or post little or no pictures of a house that doesn’t show well. I would rather know what I’m getting into before I see the property. It wastes my time to walk in and out.
Virtual tour and video tour. Virtual tours are a thing of the past, I like video tours. I strongly believe that every house should have a video tour. This properly gives me depth of field views and is not just a bunch of pictures pasted together. Either way it is necessary to have one tour.
A website dedicated to your property is a must today. This website should have everything to do with your property available. Directions, schools, measurements etc. It should also have a dedicated domain name associated with the property. Its necessary because this website should be posted on all social media sites and various home selling sites. I want to see your property everywhere I look.
MLS: Multiple Listing Service is available to Agents. This is the largest listings of available inventory of houses on the market. This is a must in today’s world. The reason is that the other sites have little or no rules or regulations regarding solds, listing and posts. MLS does. Agents do have rules. If you break them the agent pretty much loses their licence. Data integrity is necessary for the system to work. Why would you go to a site where nothing is accurate and chances are the properties are not accurate as well. I wouldn’t. I hate it when I go to these sites and nothing is up to date or sold already. I don’t understand why I would want to look at sold houses, I don’t care what the agent sold in the last ten months I care about my house, or the houses that are available now!
Marketing No No’s
You want to avoid these no no’s so you don’t lose thousands of dollars on your bottom line.
Uploading Badly Shot Pictures: High Definition pictures are pretty standard. You can take great photos wtih a cheap camera. Get rid of your Polaroid.
Restricting Access for Showings: When agents or clients are in the area looking at other houses, they want to look at many and compare them. They most likely will not come back for one house. Why risk not showing your house? Are you trying to sell your house? Making it easily accessible is very important! Other bad marketing no no’s are: No lockbox on the property, restricted hours to show, and making agents give 24-hour notice
Withholding Important Information about the house: Sometimes there is information that people like to leave out of the comments. An example would be that there are tenants signed to a two year lease living in the basement. This would be important to a buyer!
Offering Less Commission Than Other Listings: This is a turn off to many buyers. I can’t say more so I won’t. This is a big turn off to many buyers!
Here are just a few no no’s of marketing. To get a full list of Marketing No No’s call Me. I have more
Written by Ernie Arrizza