Eighty-five percent of home buyers find photos very useful on websites

May 18, 2011 By Leave a Comment

According to the “2010 Home Buyer and Seller Profile” visuals of properties for sale are increasingly useful to buyers as more buyers use the Internet in their search process. Eighty-five percent of home buyers found photos very useful on websites. In addition, eighty-three percent of buyers found detailed information about the property very useful when searching for a home.

Nearly sixty percent of home buyers used multiple listing service (MLS) websites, the most frequently used online resource. [pullquote_right]Eighty-five percent of home buyers found photos very useful on websites. All properties we represent feature extensive professional photos promoted on various real estate websites at no additional charge to sellers.[/pullquote_right]MLS is the most used website among first-time and repeat buyers and also amongst all age categories of buyers. REALTOR.com was the second most used site among repeat buyers and buyers of every age category. First-time buyers used real estate company websites and real estate agent websites more often than repeat buyers.

The most difficult part of the search process is finding the right property for the buyer. It is a process that increased in the length of the search from 2008 to 2009 and remains longer in 2010. The typical buyer searches for 12 weeks and views 12 homes during the process.

Buyers find visuals on the Internet particularly useful . . . pictures of the property, detailed information about the property for sale, and virtual tours all aid buyers. Overall, 91 percent of buyers were very satisfied or somewhat satisfied with their home buying process.

Filed Under: Advertising, Consumer Behavior, Internet, Marketing, Photography, Profiles and Surveys, Selling Tagged With: , , , , , , , , , , , , , , ,

April 2011 Market Snapshot – Greater Sun Valley Areas

May 10, 2011 By Leave a Comment

Filed Under: Areas, Bellevue, Elkhorn, Hailey, Ketchum, Market Update, Marketing, News, Sun Valley, Warm Springs Tagged With: , , , , , , , ,

Listing Expired – House still unsold? Part 2: What it takes to sell in todays market

March 13, 2011 By Leave a Comment

Pricing is a critical element in offering a home for sale, and unfortunately it’s often done wrong. Sometimes that’s the agent’s fault, and sometimes it’s the homeowner’s.

We’ll start with the agent. The sad truth is that some agents try to “buy listings” by promising homeowners unrealistic prices. They say they can get a higher price than anyone else can… which is nonsense. The market determines the price.

The only way to price a home correctly is to first compare it honestly with recent sales of homes that are very similar in size, location, amenities, and condition. Then, because the market is constantly changing, it needs to be compared to homes currently for sale. In other words, compare it to the competition.

Over pricing a home can create a greater loss for a homeowner than under-pricing it, for several reasons:

Buyers who can afford a home in your proper price range never see it, because MLS searches won’t show it. (Buyers looking in the $250,000 to $300,000 range never see homes listed at $309,000!)

[pullquote_left]It doesn’t matter what the agent or seller thinks or believes, “The Market Always Determines The Price”[/pullquote_left]Buyers who can afford homes at your price will reject it

The house becomes “stale on the market” and savvy buyers who ask how long a home as been for sale may reject it without ever viewing, believing that “something must be wrong with it.”

The result: The home stays on the market too long, forcing the sellers to continue making payments while their future plans are delayed. Often, in order to sell a “stale” listing, the price must be dropped below its proper price.

Agents aren’t always the only ones at fault. Sometimes homeowners insist on listing at the wrong price, and inexperienced or insecure agents will agree. A really top agent will not, because he or she will know that an over priced listing will cost both time and marketing dollars – and won’t result in a sale.

The online MLS market analysis tool is a great starting point. But a true market analysis must be done by an agent who has seen your home – knows the local market and the homes he or she will use for comparison.

If you’d like to know what your home is really worth in today’s market, give me a call at 208.720.6888. I’ll be happy to prepare a true market analysis for you.

 

Filed Under: Advertising, Expired Listings, Internet, Marketing, Photography, Selling Tagged With: , , , , , , , , , , , , , ,

Listing Expired – House still unsold? Part 1: What it takes to sell in todays market

March 7, 2011 By

Selling a home in today’s market is far different from selling a home just a few years ago. When things were booming and buyers were snapping up homes at ever-increasing prices, agents didn’t have to work very hard to bring you a buyer, and sellers didn’t have to work very hard to prepare their property to sell.

All that has changed.

As you’ll read in my special reports, the three elements of pricing, presentation, and marketing carry equal weight. A successful sale hinges on all three being done correctly, and that means both you and your agent must make a greater effort today than in years past.

Proper pricing has become crucial as homeowners compete with banks selling their lender-owned homes. Your agent must stay on top of current sales in order to recommend the correct price for current market conditions.

Then, your agent must work aggressively to make your home listing stand out from the crowd. Because the vast majority of buyers that purchase in the Wood River Valley begin their search on the Internet, your home’s “Internet Presence” and online exposure is critical.

It also means marketing directly to buyer agents, and then being the kind of cooperative agent that other agents want to work with.

Having been fortunate enough to represent some of the largest home builders in the Pacific Northwest, I worked directly with some of the best advertising agencies, architectural photographers, interior designers, website gurus, national sales and marketing strategists, etc., and as a result developed a unique set of marketing skills. I also had tremendous success selling properties in previous recessionary type markets (remember when the prime rate hit 21%).

Because real estate agents have to work both harder and smarter, it’s more important than ever to choose an agent wisely. And – it’s more important than ever for homeowners to work cooperatively with their agents to present their homes in the best possible light.

Give me a call at 208.720.6888 – I’ll be glad to sit down with you and explain how we can work together to give your home a “Real Marketing Advantage” over your competition. Of course, there’s no obligation.

 

Filed Under: Advertising, Expired Listings, Internet, Marketing, Photography, Selling Tagged With: , , , , , , , ,