Real Estate Maven shares real estate Internet marketing ideas

Another problem with “testing the market,” is that you chase away the initial and largest pool of buyers.  Many serious buyers are monitoring the market, your market, this very minute.  They have seen all there is for sale in a certain price range and in a certain target location and have not yet found anything that they want or like.  They wait and watch and when something new comes on the market, it shows up on their radar screen and they have instant interest in the newcomer.  If your property is too high, they will by-pass it knowing it is too high or they will bypass it because of the combination of these reasons.  The price is too high and since you just put it on the market you will most probably not be ready or realistic enough to negotiate very much.  The buyer’s attitude will be that it is too soon for seller to get real.

Yet another reason not to play the “test the market” game is that in tough times or in a down market when property values are declining your property could actually be worth less in 10 or 11 months than it currently is.  Time equals money and the test period can create a loss situation.

So I have shown you that testing the market it can potentially cost you money and now I have highlighted the fact that testing the market can cost you opportunity as well.

But don’t be afraid.  My point to all of this is that you most probably know what your property is worth and that you always have. Do not be shy and second-guess yourself.  I will bet that if you spent one hour on a used car lot you could figure out what your car is worth.  Spend a few hours and you will be surprised how easy it is to come up with the value of your real property.  Now I want you to set your own price and stop with the test games.

You know what your property it is worth, so price it accordingly and then efficiently sell it.

You as the owner, especially if owner occupied property, have such an advantage of knowing your market – use it to your benefit.

For a full explanation on each of the 12 PRINCIPLES FOR SUCCESSFUL ONLINE PROPERTY SELLING go to http://www.askjamesjoseph.com/for your free copy.

In my new book REAL ESTATE 3G. HOW TO USE THE INTERNET TO SELL YOUR PROPERTY AND SAVE THOUSANDS OF DOLLARS IN COMMISSIONS I explain many of the changes and conflicts of interests that take place and have a negative impact on the sellers of real estate and how so many Realtors are actually counterproductive and harmful to the Seller’s cause.

I have more than 25 years experience in the Real Estate Industry as a Broker, Builder, Developer and Investor. I have bought and sold many, many properties directly without the use of MLS or listing Realtors. In fact I have sold entire subdivisions with very little involvement from the Realtor community and I can show you how to use the Internet to sell your property without wasting your money on a listing Realtor.

Sellers do not need the negative outdated services of listing real estate agents. I will show you how to work directly with buyers and cooperate with the type of agents that are entirely worthwhile, the buyer’s agents.

 My mission is to bring about the needed changes in this industry and reestablish control for the Sellers once more by educating sellers and coaching them on how to perform the simple steps that are involved in selling.

 

 

 

 

It’s easy to use the Internet to market and sell your Real Estate.

Be brave and set the asking price. You see the seller has always been the one to determine what their property is worth.

Don’t be afraid!  Most Sellers know exactly what their property is worth, especially the sellers of owner-occupied properties. Long before the Internet, most sellers were aware of what’s going on around the area and what’s been sold and for how much.  Sellers usually know the area property history better than most realtors.

Now with the Internet, it is so easy to pull up your area and see where your property fits into the local marketplace. Sites such as www.googlebase.com and www.trulia.com have everything most people need to use for comparable properties.

 Be careful not to use automatic price values that are available on many of the Internet sites.  Sites such Zillow publish what they refer to as a Zestimate of value but these values can range by a ridiculous amount of money, often ($200,000.) several hundred thousand dollars and more.

If you actually are unsure of where you property fits into the market, simply review the information on the Internet about what is for sale and what has recently sold in your particular area for similar properties.  Where you fit into the local market is actually the key to the pricing process.  Separate the other properties into two categories:  1) the properties that are just a little better than yours; and 2) the properties that are not quite as good as yours.  Your property is in between these two groups and so should your price.

Yes there are exceptions to this and every rule but almost always a quick look at similar properties that are for sale and similar ones that have sold recently and it will be fairly easy to figure out the pricing.

If a seller it truly baffled on pricing, an appraiser can always be hired or consider paying a local real estate agent $100.00 to perform a current market analysis. Let them know that you are self-marketing and that you want to pay for their services. They will invariably try to talk you out of self-marketing but your honesty will go far and perhaps they will be back with the buyer you are looking for.

 

 

How to use to Internet to sell your real estate and save thousands of dollars in commissions

The vast majority of buyers are searching the Internet to find the real estate they are looking for. The figure keeps changing but somewhere between 85 to 90% of all buyers use the Internet as their main tool for property search.

In these economically challenging times most professional real estate offices (including the large national franchises) have cut way back on their budgets for print advertising in the newspapers. In real estate offices this is known as a BLACKOUT on advertising and it is happening all over the country.

The other reason why real estate agents and offices heavily utilize the Internet is because it costs next to nothing and it works! Plan and simple it works.

The Internet has changed the way real estate is marketed forever and agents have accepted it. Print advertising is extremely expensive and the Internet has now made print advertising passé.

This is not a bad thing. Agents place their efforts and energy on what works and now so can you!

Right now is the perfect time for the average home seller to learn this truth and use the Internet to sell their property without the expense of a listing real estate agent.

One of the best-kept secrets around is that for peanuts and very little effort, sellers can put their property on the Internet without an agent or a real estate broker.

If you have a digital camera and have ever used or seen Ebay then you can figure out how to post your property on the Internet. It’s that easy. Fill in the blanks, download some pictures and your property is out there for the world to see.

 

Oh sure, you are comfortable with the Internet. Maybe you have sold a car on it or have bought and sold other items on Ebay or Craig’s List. Or perhaps you are quite leading edge using all the latest technology. But this is real estate and it all seems a bit complicated. What about all the other steps that are involved in the real estate transaction?

 

Relax! This is not rocket science and most professionals in the real estate business are not scientists.

 

Use of the following 12 steps and it will make your transaction very manageable.

 

THE12 PRINCIPLES FOR SUCCESSFUL INTERNET REAL ESTATE SELLING is not only a guide for using the Internet to sell real estate online but also a formula for protecting and securing the seller throughout the entire transaction.

 

1. Be brave and set the price. The seller always has
2. You must perform all inspections before you market the property
3. Honestly represent the exact nature and condition of the property
4. Hire an Attorney. Do it early on in the sales process
5. Get proof of insurance from everyone
6. Anything you say can and will be used against you. So zip it!
7. You need to cooperate with and pay buyer’s brokers and agents
8. You can sell directly to buyers without an agent. If they don’t have one
9. Online advertising is cheap
10. Showings are easy
11. Be effective and follow up
12. All information concerning the property becomes the property of the property

 

If sellers will follow these principles they can sell their real estate online with the confidence that they can accomplish this important transaction from beginning to end.

For a full explanation on each of the 12 PRINCIPLES FOR SUCCESSFUL ONLINE PROPERTY SELLING go to http://www.askjamesjoseph.com for your free copy.

In my new book REAL ESTATE 3G. HOW TO USE THE INTERNET TO SELL YOUR PROPERTY AND SAVE THOUSANDS OF DOLLARS IN COMMISSIONS I explain many of the changes and conflicts of interests that take place and have a negative impact on the sellers of real estate and how so many Realtors are actually counterproductive and harmful to the Seller’s cause.

I have more than 25 years experience in the Real Estate Industry as a Broker, Builder, Developer and Investor. I have bought and sold many, many properties directly without the use of MLS or listing Realtors. In fact I have sold entire subdivisions with very little involvement from the Realtor community and I can show you how to use the Internet to sell your property without wasting your money on a listing Realtor.

Sellers do not need the negative outdated services of listing real estate agents. I will show you how to work directly with buyers and cooperate with the type of agents that are entirely worthwhile, the buyer’s agents.

 My mission is to bring about the needed changes in this industry and reestablish control for the Sellers once more by educating sellers and coaching them on how to perform the simple steps that are involved in selling.

 

 

 

 

 

Because of the Internet Sellers do not Need Listing Realtors

Because of the equal access to most Internet sites sellers of real estate do not need the costly, conflicting and ineffective services of a listing realtor.

The posting and sharing of information about your real estate on the Internet is easy and usually free. There are so many different sites a seller can and should place their property on. Even online Internet newspaper advertising is dirt cheap and affordable by any seller.

So much has changed over the last 10 to 20 years that it is now possible for anyone to effectively sell property over the Internet. The days are long gone when Realtors had complete control over the sales process. The National Association or Realtors has struggled to maintain this stronghold over the marketplace but the free exchange of information over the Internet has made this goal completely futile. With the only exception of access to the Multiple Listing Service everything has changed as a result of the Internet and bigger and better changes are still to come that will completely change the entire sales process even more. With or with out the blessing from the Realtor community change is coming to be sure.

Gone are the days when Realtors had the only access to listing information. The Multiple Listing Service use to print weekly books that only Realtors had copies of. This assured Realtors that buyers and sellers had to seek out information from a Realtor. Now the information is just a click away.

The National Association just cost the taxpayers of this country million of dollars in their failed attempt to limit equal access to virtual real estate offices. This failure only highlights the need for an open MLS structure.

The National Association of Realtors last bastion of control remains in their control and limits they impose on the Multiple Listing Service. This too shall change. The Internet and fresh ideas for its use will enable these changes for the better.

 

 

The Internet has provided so many positive changes for our lifestyle. The way we sell real estate is one of them and this process is still in flux. Although the National Association of Realtors still limits access and controls the Multiple Listing Service, there is now so many other alternative Internet websites that a seller can use to sell that are easy and quite often free. Selling your own real estate over the Internet without using a listing Realtor is not only completely possible now, but it will get even better in the near future with fresh ideas that will change everything.

 

In my new book LISTING REALTORS ARE OBSOLETE. USE THE INTERNET TO SELL YOUR PROPERTY AND SAVE THOUSANDS OF DOLLARS IN COMMISSIONS I explain many of the changes and conflicts of interests that take place and have a negative impact on the sellers of real estate and how so many Realtors are actually counterproductive and harmful to the Seller’s cause.

I have more than 25 years experience in the Real Estate Industry as a Broker, Builder, Developer and Investor. I have bought and sold many, many properties directly without the use of MLS or listing Realtors. In fact I have sold entire subdivisions with very little involvement from the Realtor community and I can show you how to use the Internet to sell your property without wasting your money on a listing Realtor.

Sellers do not need the negative outdated services of listing Realtors. I will show you how to work directly with buyers and cooperate with the type of Realtors that are entirely worthwhile, the buyer’s Realtors. My 12 PRINCIPLES FOR SUCCESSFUL ONLINE PROPERTY SELLING is available online for free at http://www.AskJamesJoseph.com so be sure to get your free copy.

My mission is to bring about the needed changes in this industry and reestablish control for the Sellers once more by educating sellers and property owners how to perform many of the simple steps to selling on their own.

 

 

Banking Bailout. Banks Handle Real Estate Marketing Wrong. The Real Estate Maven

Most of the injuries that many Banks are currently suffering from are self-inflicted. Financial institutions have been holding onto more foreclosed property than it is obviously healthy for them to own. It now seems painfully apparent this is because Banks do not have a clue about marketing and how to sell the very real estate that they were so hasty to reposes.

Trying to deal with most banks about their owned properties has been like some weird form of a cloak and dagger game. It seems that most Bankers find some sort of perverse pleasure in avoiding the very thing that they need the most BUYERS.

You see the banks have made it is almost impossible for the average buyer with interest to contact them about the very property that they are sitting on and need to sell. Even though this Property is obviously doing the banks more harm than good most financial institutions refuse to deal directly with individual buyers.

Larger financial institutions have not wanted to be bothered with the individual investors. They have sought to repackage groups of multiple properties into large portfolios to be resold to institutional investors. Maybe that is all that their staffs know how to do but it is time for them to change focus.

Many Banks have acted too high and mighty to deal with the individual investors. While they have shunned the small investor they have wasted precious marketing time and now look to the government for a solution

One can find the banks identity and address from town and city records but there is never a contact person to direct inquires to. An interested buyer cannot call these institutions and submit an offer and receive a call back. An interested buyer cannot write to these institutions and receive an answer about how to purchase the property in question. There is usually no way to have any dialogue whatsoever about the very real estate the financial institutions need to sell. It’s as if they actually do not want to sell. They do not want to be bothered with the little guy only the other giants of the industry. This attitude or strategy does not appear to have proven wise.

Some of the Bank Real Estate Owned departments utilize the services of the Realtor community. From what I have seen of the properties either the Realtor was trying to hard to impress the banks in order to obtain other listings from the banks or the banks are unrealistic in their appraisals of value. Either way the pricing I have seen has been completely out of line and this is not the time to be unrealistic.

The Banks need someone in house to see the properties, accurately price the properties and then concentrate on marketing the properties to each and every buyer they can find. Marketing over the Internet is simply not that hard to figure out.

 

The enormous difference between the RTC in the 80’s and the New Bailout bantered about this September is the Internet and the potential it creates to reach millions of individual buyers. Will the banks embrace this Internet marketing opportunity and liquidate their real estate holdings to each and every qualified buyer?

 

 

 

 

 Most banks have created an impermeable barrier that the ordinary purchaser cannot penetrate.  Financial institutions have made it all but almost impossible for the ordinary buyer to approach them about the foreclosed properties that they so desperately need to sell. Strangely, most of the very banks that turn the Government for bailout assistance make it all but impossible for buyers to contact them and negotiate to purchase on their Bank Owned Real Estate. In this volatile market banks should be looking at every buyer, big and small, as a potential sale.

 

Real estate marketing advice: Reason number 6 why sellers need to perform property inspections before marketing.

 

 

Before a seller places a property on the market they need to have all property inspections performed before they self market or list for sale thru a Realtor.

 

The reasons that performing these inspections before you seek a buyer are so important include:

1. Establishment of price
2. Learning the exact nature of the property
3. Misrepresentations
4. Avoiding price renegotiations
5. Error and omissions insurance coverage
6. Maintain arms length negotiations

 

Reason #6 is designed to maintain distance in between the seller and buyer.

 

There is an old saying that familiarity breeds contempt. Well, when it comes to a real estate transaction familiarity breeds altered negotiations.

Anything a seller does or says will most often be used against them in the arena of negotiations. The more a seller keeps his or her distance from a buyer or a buyer’s agent the less chance they will have to figure out what make a seller tick. What their motivation are for selling. What their negotiating strategy or lack of one is.

 

If a seller performs the inspection reports and gives a copy to an interested buyer before they negotiate they in effect create some very useful and necessary distance between them so negotiations will not be based from a point of familiarity.

  

If a seller is not careful they will usually tip their hand and show the buyers the real motivation behind their contemplated sale. These reasons vary greatly but this information can be used by the buyer to negotiate a better deal for themselves if they are made aware of the true reasons a seller is selling.

 The less time a seller is in the company or direct verbal communications with a buyer the better off the seller will be. Let the inspection reports do the talking.

 

At some point in the sales process it will become inevitable these reports are performed.

It is entirely in the SELLER’S BEST INTEREST to maintain this control and have these inspections performed at their own expense. In the long run it will always save the seller time, aggravation and money.

 

 

By maintaining a safe communication policy with the buyers a seller will insulate themselves from the possibility of sharing too much information with the buyers. Performing the home inspections in advance enables the seller to keep the proper distance needed to protect this policy.  The seller should let the inspection reports do the talking for them.

 

 

 

Zillow and the Vice President

If Zillow is your sales partner then Dick Chaney might as well be your hunting partner. You are definitely shooting yourselves in the foot by electively taking part in a system that shares all kinds of information about your property that is self incriminating!Zillow.com is full of damaging content and information that as a Seller of Real Estate is detrimental to your sales efforts.

Choosing to be part of a system that broadcasts a value range for your real estate is quite bazaar.

In this marketplace, do you actually believe that a potential buyer is going to offer you a price in the middle or the higher spectrum of the Zillow value range? This occurrence is completely unlikely. What a buyer will most likely do is offer the bottom of this value range and use this statistic to justify their low price.

This same high/low pricing is done in some of the Multiple Listing Services as well. Why would you hire a Realtor or list on a web site that cannot pin down a price for the value of your property? These value ranges take severe swings, in some instances they vary by hundreds of thousands of dollars. I do not know of any other product sold in this country by such a method. Maybe this works in Mexico for blankets but not for Real Property.

As a Seller, how do fancy value trend graphs and market statistics help you to obtain the highest price for your Real Estate? Unless your actual pricing follows those same curves that they plot in the graphics on your property page then this information can and will be used against you.

Zillow publishes(with your or your Real Estate Agents permission) the sales history of your property. What you paid and when, is completely irrelevant concerning the present value of your Real Estate. But the Buyers will also check this information out and become confused or worse yet, justified in their hard line negotiations based on these facts.Professional Appraisers determine a present day value for Real Estate based on the current market. Not on the market of bygone days. Will the Buyer do the same?

Zilow also publishes(again with your or your Real Estate Agents permission) what they consider to be comparable sales to your property. Great information for the Seller if they are in fact comparable to your property and if you have some experience interpreting them but again potentially confusing or detrimental information if shared with the Buyers.

Sellers you need to very cautious with some of the Internet marketing sites and analysis whether they are working in your best interest.