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Wednesday, April 27, 2016

Seven Common Home Selling Myths Debunked


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Selling real estate has evolved over the years. About 15 to 20 years ago, it was a completely different environment. The MLS used to print out a physical book and mail it out to all the Realtors in the area. This was the old-school, low-tech way to buy and sell real estate. Unfortunately, some agents are still behind the times; they perpetuate myths that in today’s real estate environment simply don’t hold any water. Today, my goal is to debunk the following myths:
  1. Open houses sell houses. In a survey among top Realtors in the United States, most agree that less than 2% of open houses sold the home that was held open. They also agreed that the majority of buyers that walked through the property weren’t actual buyers.
  2. Classified-style ads will sell your house. These include newspaper ads, the pennysaver, or Dream Home Magazine. None of these types of ads will sell your house in today’s real estate environment.
  3. The Realtor caravan will sell your home. This is another very low-tech way of sell real estate. It consists of getting a bunch of Realtors together to pitch your property. Then, they all drive by and walk through the homes. The fact of the matter is that over 90% of buyers shop for homes online.
  4. Flyers will sell your home. Buyers will know whether they want to purchase your home within minutes, and flyers only give them more reasons to discount it.
  5. The international buyers list will sell your home. This is a list of buyers from all over the world who are looking to purchase a home in the United States. The reality is that these buyers are no different than regular buyers, with the exception that they may be held to more restrictions.
  6. The MLS will sell your house. Simply putting your home on the MLS is not going to get your home sold. The expired list is made up of homes that failed to sell on this very service. You need more than a basic online listing to get selling results!
  7. There is an all-cash buyer out there looking to buy your home. Some people actually think that poor marketing and listing the home as-is will attract some magical all-cash buyer who will pay top dollar for your home. This one doesn’t even need to be debunked, because it’s so unbelievable in the first place!


If you have questions about what techniques actually do sell homes, please don’t hesitate to reach out to us. We would love to help you with any and all of your real estate needs.

Monday, April 11, 2016

How I Helped Ben Sell His Home Quickly and with Ease


"Yea, it was great. He kept in touch with us and was always there and making phone calls. Every time I called I always got a hold of him. I always got all of my questions answered. He'd always break it down so I could understand the answer. He gave us the time we needed to get the house ready. And we put our home on the market and it sold within two days, for our asking price, which was priced pretty high, about three percent above market."

Wednesday, April 6, 2016

How Will BATNA Help You Negotiate?


Want to sell your home? Get a FREE home value report. 
Want to buy a home? Search all homes for sale.

This week, I’m talking to you about negotiations. When you follow the King marketing plan, you gain an aggressive strategy. You might be asking yourself, “What is the best way to handle offers to earn the highest and best sales price?”

I’d like to break down an important component of negotiation called BATNA. The acronym stands for the Best Alternative To a Negotiated Agreement. Understanding your strengths and weaknesses prior to entering a negotiation can significantly better your strategy. The party with the best alternative will almost always have the strongest foothold in the negotiation.

If you’re the buyer, find another, similar house you like just as much as the other or maybe even more. This will be your backup if your first option doesn’t work out. It gives you freedom in a transaction to walk away, which increases your negotiating power.
 


If you’re a seller, find the better buyer who will pay what you want or more. If the seller only has one buyer, and they find another home they like better, the buyer will ask for a discount, request extensive repairs, and even beat down the appraisal. The seller’s best defense includes additional buyers, even if it’s just one, within a single transaction.

The seller then can explain to a more demanding buyer that they have other offers to explore. You have more negotiating power if you can walk away from an offer. When social influence plays a role with other buyers wanting to buy your home, this will keep your current buyer more committed to the transaction within closing time and budget. Always have several buyers and back-up offers to score the best deal. If a current deal in escrow falls apart, you have other options to explore already.

Understanding your BATNA before negotiating can help you build your strategy and give you an advantage in the San Diego marketplace. If you’re thinking about buying or selling a home locally, contact me by phone or email. I am happy to serve your local real estate needs!

Thursday, March 17, 2016

How Does Social Proof Affect Luxury Home Sales?


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Want to buy a home? Search all homes for sale.

If your goal is to sell your home for top dollar, you’ll need to get an acceptable offer quickly after you list it on the market. Studies have shown that buyer interest declines sharply when a home sits on the market for an extended period of time. The longer the home is on the market, the less desirable it is.

Now, human beings are hard-wired to look for social proof, often through mediums like Facebook, Twitter, and LinkedIn. I’ve read that 95% of home buyers are using the internet to find their next home. They are visiting search engines and social media sites looking for signs of social proof. Positive social triggers lead to positive decisions, decisions to buy. Negative social triggers will cause a buyer to avoid the home. As Tony Robbins once said, “People will do more to avoid pain than they will to go for pleasure.”

Today, we’d like to share a few examples of social proof with you. First, let’s talk about positive social proof. Let’s say you are looking at homes with your agent, and find an open house to visit. When you get there, you see 3 other buyers there as well, and you can tell they are excited by their body language. That’s positive social proof. Even if you don’t end up buying the home, that social proof will cause you to wonder if the home sold or not, and at what price.


Conversely, here’s an example of negative social proof. Let’s say you come across a home that meets all of your criteria, but you soon find out that it’s been on the market for 120 days. You will likely ask yourself why no one has bought the home yet, and if you make an offer, it will likely be lower than the offer you would make if the home was fresh on the market.

If you have any questions for me, or would like a detailed report on exactly how I can sell your home for top dollar, give me a call or send me an email. I look forward to hearing from you!

Wednesday, February 10, 2016

Keep Your Luxury San Diego Home Off the Expired List


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Want to buy a home? Search all homes for sale.

There's a risk to selling a luxury home in the San Diego area. For instance, a listing could potentially end up on the expired list.

The people on the expired list have a couple of things in common. First of all, they all hired an agent, put their house on the market, and then failed to sell. Secondly, these Realtors and homeowners never should have worked together to begin with!

The luxury home market has the highest expiration rate. At least 50% of those expired listings will have a repeat experience with another agent. Some of these listings will expire four times.

When people go to sell their homes, they enter the market with certain preconceived notions. They hire an agent who fits those preconceived notions, and when that doesn't work out, they hire another agent based on the same preconceived notions. In fact, the vast majority of expired listings are either listed with a friend, discount agent, or a friend that gave them a discount.



The major problem with the expired list is the negative social ramifications. For example, let's say you and I are out looking at a home. You really like the home, and then I tell you that this house had been on the market for 6 months and expired. You will think that there is something wrong with the home, and if you do make an offer, the offer will be well below asking price.

By now, I assume that you don't want to wind up on the expired list. My team and I put together a step-by-step plan to sell your home quickly. We do things differently, and we can sell your house for top dollar. Let's turn your sale around!

If you have any questions, give us a call or send us an email. We would be happy to help you!