July 2008

The Myth of Advertising

Joshua Keen

Wednesday, July 30th, 2008 at 7:38am. 169 Views, 0 Comments.

Most Sellers love to talk about advertising.  They want to know where their home is being seen and, in many cases, the instant they put their homes up for sale they become "arm-chair" marketers. 

I had a long talk with a prospective client yesterday who literally had an outline of over 100 media outlets he expected his home to be advertised on- from television spots to a cork board at the local coffee shop.  Many of them...most of them, actually...had nothing to do with targeting buyers of real estate.

Now, in this market -- I've learned to "choose my battles wisely" so we parted as friends and he continues his search for an agent who is able to meet his expectations.

The question for you, as a Seller in this current market, is whether you…

Is Now the Time to Sell?

Joshua Keen

Monday, July 28th, 2008 at 3:20pm. 167 Views, 0 Comments.

Is now a good time to sell your home?

Only if you NEED to. 

**note - "need" for the purpose of this post means you are in a situation for which selling your home is the only option available to you. 

Timing the Market

Joshua Keen

Saturday, July 26th, 2008 at 4:41pm. 133 Views, 0 Comments.

"How long will it take to sell my house?"

It's one of the most common questions I'm asked today.  And the answer is quite simple:  as a Seller, you decide how long your home will be on the market by what price you put on it. 

Price and time are directly related.

I talk with a lot of folks who are concerned about "negotiating room".  They think if they price their home too low they're going to get a "low ball" offer and they won't have any room to negotiate with the buyer.  Here's the truth...if you price your home out of the marketplace so that you have room for negotiating, you might miss the Buyer that's willing to pay the price you're willing to accept.

So wouldn't it be better to price it right and hold tight, as opposed to building too…

Mortgaging Hope

Joshua Keen

Thursday, July 24th, 2008 at 5:15pm. 134 Views, 0 Comments.

As a kid, I collected baseball cards.  I would literally spend hours reviewing, organizing and "pricing" my cards.  And if you've ever collected baseball cards then you're probably aware of Beckett's Price Guide.  For those of you that don't...Beckett's Price Guide is a monthly magazine that publishes the "going rate" for individual sports cards.  Now, here's a simple truth of baseball cards (and all collectibles):  a baseball card is only worth what a ready buyer is willing to pay for it when you want to sell it.   Meaning my baseball card was only worth the cardboard it was printed on UNLESS there was a buyer willing to pay me more.  Sure...I could say it was worth $5 (or $5000 for that matter) but, at the end of the day, until I someone offers to pay…

Chicken Soup for the Real Estate Seller

Joshua Keen

Wednesday, July 23rd, 2008 at 7:16am. 144 Views, 0 Comments.

Let's say you go to the grocery store and there are 10 cans of chicken soup on the shelf.  If you're like most people, you're going to look carefully at their price per ounce, the label, the kind of noodles it has, etc.  And, if you're like most people, you buy the best value for your dollar in chicken soup.  And you take your time doing it.

On the other hand, if there's only one can of chicken soup and there are 3 others behind you just waiting to snatch it up as soon as you're done inspecting the label, you're not going to be nearly as discriminating.  You'll simply put in your cart and move on.  And you'll do it quickly and pay the going rate.

That's the difference between a buyer's market and a seller's market.  Buyer's look at things…

You Can Lead a Horse to Water...

Joshua Keen

Tuesday, July 22nd, 2008 at 12:13pm. 132 Views, 0 Comments.

If you're a "motivated seller" and your home has been on the market for more than 4 months without an offer - it's your agent's fault.

If you're a "motivated buyer" and you've been looking for a home to purchase for longer than 8 weeks - it's your agent's fault.

I meet a lot of Buyers and Sellers who would agree with me here.  But simply agreeing who's to blame doesn't solve the problem does it?

Here's the truth:  You need an agent who is bold enough to tell you why your home is not selling and what to do about it.  And you need to follow their lead.  You need an agent who is honest enough to tell you why you're not finding what you're looking for in the market.  And you need to listen to them.

And, for you agents out there, if you're bold…

Ready, Aim, Fire

Joshua Keen

Monday, July 21st, 2008 at 8:54am. 129 Views, 0 Comments.

I talk with a lot of Sellers who are under the impression they'll sell faster by adding to their price to create "negotiating room".   It seems logical enough.  It's what I call the "shoot for the stars, you might hit the moon" philosophy of pricing.  Unfortunately, it doesn't work.

In today's Atlanta real estate market, if you want to hit the moon it's far better to take purposeful aim at the moon before shooting.  You want very little negotiating room.  A thousand or two is fine.  You want buyers to make an offer.

The pricing of property is critical in this market because buyers are very, very educated in what they're looking at.

Almost every buyer in today's market is working with a buyer agent, so they're going to be doing their market…

23 Showings. 3 Offers. 2 Sales.

Joshua Keen

Sunday, July 20th, 2008 at 8:40am. 125 Views, 0 Comments.

INTOWN ATLANTA REAL ESTATE RATIOS

I'm a Realtor, not a Magician

Joshua Keen

Thursday, July 17th, 2008 at 7:22pm. 130 Views, 0 Comments.

I don't set the market and neither do you. Unless, of course, you're a buyer.  Buyers set the market because they determine how much they'll pay.

What I do for my clients is interpret the market so they have a good understanding of what's going on.  I help them maximize value through sound market research and so they can make an intelligent decision about how to price their home to sell in today's market. 

In short, I help people face the reality of their situation so they can get on with their life.

Sometimes, I think pulling rabbits out of a hat would be a lot easier.  Not to mention a lot more fun.

My Dad can beat up your Dad

Joshua Keen

Tuesday, July 15th, 2008 at 2:06pm. 137 Views, 0 Comments.

Buyers buy by comparison.  When they enter your home, chances are they've seen 3 or 4 others with similar features and amenities.  They are practically experts on market value in your price range.  They will make offers on or buy the home that offers the most for the money.  If you want to sell before the competition then you must be the most aggressive Seller in the market.  You must have the best home in the market for the best price.

Remember...selling real estate is simple.  Simple but not easy.