Realtors marketing rags
Husband and I are considering selling our home next year. It is nice but certainly no estate. Zillow guesses between $925 and $1,000 T.
We talked to one Realtor to ask her opinion about a couple improvements we had in mind, and a to-do list. She talked about marketing our home in one of those magazines, fliers such as found on the ferry.
Our neighbors are either executives from out of state or families who have been in the town for years.
Given the above information, do home buyers really find and buy a home such as ours from those magazines and fliers? My opinion is perhaps embedded in the question, but what is yours?
We talked to one Realtor to ask her opinion about a couple improvements we had in mind, and a to-do list. She talked about marketing our home in one of those magazines, fliers such as found on the ferry.
Our neighbors are either executives from out of state or families who have been in the town for years.
Given the above information, do home buyers really find and buy a home such as ours from those magazines and fliers? My opinion is perhaps embedded in the question, but what is yours?
Comments
How much are they charging for the 1 by 1 color glossy?
So, folks, how did you find the house you bought?
Who knows what the real estate business will look like next year. I do know what I think would be the best approach for our home is mls listing, a good web presentation (stunning view) which means a professional photographer, and professional staging. We will need someone who can accurately price the home and help us with negotiations.
What concerns me is that the local 6% Realtors won't work with a discount realtor on either end. The local brokers seem to have a lock on the business right now and when I click on the agents none of the experienced ones talk about Internet website presentations - they seem to be in the dark ages.
Were I the buyer I would absolutely use Redfin and we would be happy to work with such a buyer as they would be our kind of people.
Sites like Redfin are just taking their listing from the MLS.
The other option would be to use one agent and negotiate a reduced fee, wrapping both buying and selling of two houses into one package, if you are buying in the area.
Picture youself at the closing table and the checks are being handed out. Has your realtor earned that check? YOU have the ultimate power in this transaction choose wisely.
So we are talking 60 grand at full percentages here. The Cheapo MLS listing and lawyer will probably cost you between 2- 4K.
I guess it depends on how confident you are in pricing it right and showing it. Is it worth a year's salary (for normal humans) to you to get help? For some people, it would be. For me, I think I could wing it.
First, get a compentent agent to help you - but let them know up front you expect at least a point off the transaction from them. I say this because the only leverage you really have with them is cutting their SALES commission. You pretty much have to guarantee the BUY commission at 3%, or you might be missing showings. So be realistic - don't expect a 4% commission. No agent is going to do a great job for you for a 1% commission. Even Redfin takes 1.5%!!!
Second - the rags, etc are worthless. Your goal should be to price right and sell ASAP. A glossy handout at your house, yeah. In the paper etc? not worth it. The good stuff is SOLD before those things come out so you are wasting your money - unless you want to really hold out for some GF.
Third - Invest in fixing cosmetic stuff - paint, staging, etc. Really is worth it. At $1mm, most buyers aren't thinking "fixer"
Fiinally - Price it right (think I said that?) Better to think you are leaving a bit of money on the table up front than to have it languish on the market six months - especially in an environment of reducing appreciation.
As reference, I sold my place for >$1mm last year. Made a ton of mistakes in pricing, when I put it on the market, etc. Took longer to sell than it should have because didn't paint the exterior, probably priced too high. In retrospect what I outlined above would have served me well - but I got away with it because I was in a much stronger market.
IMHO
Marketing in those brochures I think is a way to justify a long listing agreement. I can understand why a lister worries about a slow market and would want a longer listing. However, if they aren't doing a good job (in our opinion) I want the ability to end it in 90 days. I would be willing to pay half the photographer's fees at the end of a failed listing if I had the right to use the photos going forward.
How about mailing postcards with a pic of the house on the front and details on the back to your extended neighborhood? Post Office lets you do mass mailings to specific zipcode breakdowns. It's a cheap way to get word out that your house is for sale.