Classified Realty Group



Posted by Classified Realty Group on 12/17/2018

As recently as 20-25 years ago, most people thought “staging” was for the theater and model homes. The idea of professionally temporarily decorating a home to sell it was not on the average homeowner’s radar. All that changed with the advent of TLC, HGTV, and other networks dedicated to home buying/selling and renovating shows.

If you’re selling a home after years out of the housing market, you may balk at the idea of the added expense of hiring a stager, but last year’s National Association of Realtor’s report ‘Profile of Home Staging’ indicated that a massive 77 percent of buyers’ agents believe staging contributed to their client’s ultimate purchase.

Visualization is key
Living in a visual world means most people make snap judgments by what they can see. If buyers cannot “see” themselves living in the home, they’ll keep looking. First-time buyers, especially, may need that extra nudge to make the plunge. Staging for the online photos is even more important. Potential buyers indicated they were more likely to walk through a home that had staged online images.

Faster is better
While some studies completed in the past few years indicate that staging does not change a buyer’s perception of a home’s value, it does help the home sell more quickly. In the world of real estate, where the seller is balancing the mortgage on the current home with the new mortgage on the home they want, selling the home more quickly for a fair price pays for itself. After all, who wants to be carrying two mortgages?

More is also better
Ultimately, it comes down to the outcome. Yes, the house may sell more quickly when staged, but does it sell for a higher price? Is the cost of staging recouped? The evidence is less clear here, but in the same NAR study, 49 percent of agents believed staging got the seller a higher offer. And while most of those indicated the increase was in the one to five percent range of the sale price, that was more than enough to cover the cost of staging.

Is this a time for DIY?
Binge-watching renovation and real estate shows may give a seller a false sense of their own ability to effectively stage their home. Professional stagers and design professionals can cast that critical eye that allows them to minimize a home’s flaws while accentuating its features. They also have a plethora of furnishings to utilize. To do it yourself might not be worth it on balance for what you get with a professional.

The most important key is to be on the same page as your local agent. They know your local market and are aware of the comparable homes for sale in your area. They know the potential buyers and what they expect to see in your home’s price range. Put their knowledge to work for you.





Posted by Classified Realty Group on 1/19/2016

The internet and the evolution of social media have forever changed the way marketers do business and this includes real estate. If you are considering selling your home you need a real estate proessional who understands the need for extensive online marketing. When looking to test a real estate professionals internet marketing ask some of these questions: Do you have a website? There are 245,203,319 internet users in the United States, that is 78.1 % of the population. According to the National Association of Realtors, 88% of homebuyers shopped online for a home. Do you have a mobile website that is enabled for iPhone, iPad and Android devices? 4.8 billion people now own mobile phones. Just 4.2 billion own a toothbrush. Do you have a blog? Social media sites and blogs reach 80% of all U.S. internet users. Do you have a Facebook business page? Facebook is the most important social media lead generation tool for b2c marketers with 77% saying they had had acquired a customer through Facebook. Do you market on Twitter? There are now roughly 100 million active Twitter users (those who log in at least once per day). Do you have a You Tube channel? YouTube has 490 million users worldwide (unique visitors per month). It generates an estimated 92 billion page views each month. The average user spends an average of 25 minutes on the site each time they visit. Do you share information on LinkedIn? There are over 57 million users on LinkedIn in the United States. You need a real estate professional who leverages all of these outlets to market your home.





Posted by Classified Realty Group on 12/29/2015

If you are a seller, you need to know how buyers think. A study by the National Association of Realtors asked buyers who they are, why they need to buy, and what would make them buy. Here is just a few highlights from that study which provides detailed insight into the home buyer's experience with this important transaction. Here are highlights from that report.

  • Sixty-six percent of recent home buyers were married couples—the highest share since 2001.
  • For forty-two percent of home buyers, the first step in the home-buying process was looking online for properties. While fourteen percent of home buyers first looked online for information on the complete home buying process.
  • The use of the Internet in the home search process rose slightly to ninety-two percent.
  • The typical home buyer searched for 12 weeks and viewed 10 homes.
  • Eighty-eight percent of buyers purchased their home through a real estate agent or broker. This share steadily increased from sixty-nine percent in 2001.
  • Eighty-eight percent of sellers were assisted by a real estate agent when selling their home.
  • Two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.
  • The share of home sellers who sold their home without the assistance of a real estate agent was nine percent. Forty percent knew the buyer prior to home purchase.
 





Posted by Classified Realty Group on 11/24/2015

When you walk into an open house and see the home you want to buy, before you start working with the seller's agent, you need to understand who that agent is working for. Many buyers do not understand that the seller's agent has a fiduciary duty or a duty of loyalty to the homeowner. While agency laws differ from state to state they have the same general principles: Typically an agent represents either the buyer or the seller. However, in some cases an agent will assume the role of a dual agent (representing both the seller and the buyer). Make sure to check the agency laws specific to your state, but in general agents fall into these categories: Seller's Agent: A seller's agent works for the real estate company that lists and markets the property for the seller, exclusively representing the interest of the seller. Buyer's Agent: Some states may have written agreements regarding buyer agency. A buyer agent assists the buyer in evaluating properties, preparing offers, and negotiating in the best interest of the buyer. Dual Agency: Dual agency occurs when the buyer's agent and the seller's agent are the same person or company (depending on state law). Dual agents do not act exclusively in the interests of either the seller or buyer. Dual agents cannot offer undivided loyalty to either party. A conflict of interest can arise because the interests of the seller and buyer may be different or adverse. A buyer and seller must agree to dual agency. Always ask your real estate agent about the agency laws in your state. Many states require buyers and sellers to sign a disclosure form at the first meeting between the agent and potential client.





Posted by Classified Realty Group on 8/25/2015

Many people think seven is a lucky number but if you are looking to get the most bang for your buck the number you want in your address is an eight. According to a study done by the University of British Columbia, houses and street numbers ending in eight sold at a 2.5 per cent higher rate than homes and street numbers ending with any other digits. In fact, the study also found homes and street numbers ending in four sold at a 2.2 per cent discount. House numbers have recently become more important with the influx of Chinese buyers in the marketplace and the increasing popularity of Feng Shui. Numbers that sound similar to Chinese words that have positive meanings are believed to be lucky. The number eight sounds similar to the word for prosper or wealth. The fear of the number four, or tetraphobia, is because the pronunciation of the word for four is similar to the word for death in Mandarin, Cantonese and several Chinese dialects. Thinking of rolling the dice on the number 13? Many large casino hotels in Las Vegas omit floor numbers 4, 14, 24, 34 and 40 to 49. The number 13 is not however, considered unlucky in the Chinese tradition. Other numbers with perceived good luck are two, three, five and seven. Two because of the Chinese saying good things come in pairs. The number three sounds similar to birth and the number five is associated with the five elements (water, wood, fire, earth and metal). Considered the luckiest number in the West, 7 symbolizes togetherness. Even though house numbers may influence a buying decision there is no evidence to support actual bad or good luck in homes with certain numbers. The thought of good or bad luck has more to do with the psychology of people than actual events.