Choosing the Right Realtor

Choosing the Right Realtor

Selling or buying a home should be like any other business transaction, but all too often buyers and sellers make emotional or impulsive decisions that can in turn cost them money and time. Choosing the right Realtor to market a property or negotiate a sale is the most important step in the process.  

When selecting a Realtor, have high standards just as you would when hiring an attorney or doctor.  For example, a lot of sellers will hire an agent offering the lowest commission. You have to remember, you get what you pay for.!  Do you want a negotiator with a lot of expertise to protect your equity?  If you had a lawsuit that was worth the value of your home, would you hire the cheapest attorney to protect you or the best attorney you could find?  If you had surgery, would you look for the cheapest doctor?  Or you would look for the best doctor?  The same should be true for the Realtor you hire.  In today’s highly competitive market it takes time, knowledge, expertise, targeted marketing, and a lot of hard work to get the job done and to get it done right!

In our current market, choosing a professional can even make a difference in whether or not you sell your home and how much goes into your bottom line.  I’ve practiced real estate for going on 29 years and have negotiated nearly 3800 contracts in my career.  If you want real results, hire a real professional.  I have a very strong team to back up my experience.  We keep you informed and have one of the best percentage of list price to sales price ratios out there.  Hiring the right agent in this market will make a significant difference for both buyers and sellers and their bottom line.



If you are looking to buy or sell a home today, call our office at 505-923-4730 or email us at cheryl@cherylmarlow.com.  

November Market Statistics

The Greater Albuquerque Association of Realtors has released the November market statistics and I have looked over them in length.  Here are some of the highlights.  In November, 658 homes and condos sold.  That’s down from October’s 827.  However, there's always a silver lining right?  For us, it’s that the 658 sold last month, is actually an increase when compared to the same time last year when just 617 were sold.

Unfortunately the upper end is still suffering from a lack of activity.   Maintaining our market’s consistency…we saw just 4% of the total sales above $500,000.  As expected, most of the sales were made below the $250,000 magic mark totaling for nearly 73% of all of the homes and condos sold in November.  That of course means 23% of sales were between $250,000 and $500,000.

Another thing that stood out to me in the report is supply and demand.  Our market is still out of balance.  In November there were 4,741 homes and condos available.  Out of the 4,741 only 658 sold.  Those numbers tell me that only 14% of homes and condos available in were purchased.  That's 14 out of every 100 homes and condos. This time of year it is a price war and a beauty contest more than ever.  That’s why it’s so important to have an experienced Realtor on your side who will tell you the truth about how you should price your home and show your home in order to get it Sold!

If you would like to buy or sell a home today please call my team at 505-923-4730 or 505-238-1000.

Cheryl

Home Not Selling? What you should keep in mind...

When a home's not selling, there's a reason, and often there's more than one reason why a home continues to sit on the market.  We all know it can be very frustrating to put that For Sale sign in the front yard, expecting a fast sale, only to find that after months you’re still waiting for an offer. I’ve said it before and I’ll say it again… if you want to sell your home in this market, you have to be competitively priced and your home has to show well.  

Pricing, by far, is the most important thing to consider!  Inaccurate pricing can kill a potential deal.  On the other hand, a home priced at market value peaks the interest of agents and buyers. Overpricing simply chases everyone away. In today’s market, the most serious sellers are pricing their properties slightly below market value to generate excitement and activity.  That in turn can lead to a faster sale, especially with all of the competition out there.

You want to be in the top 2 in your area when it comes to pricing.  And if your home doesn't show as well, then you need to be the best deal out there in your price range.

Another reason why your home could be sitting on the market is insufficient exposure.  For Sale By Owners, I'm talking mostly to you. If you’re attempting to sell your home on your own, or with minimal marketing, you need to reconsider. You may have the best home out there, but if no one knows about it, it won’t help you get your home sold. Hiring a Realtor that develops comprehensive marketing strategies is absolutely key.  Realtors like myself will create a compelling MLS listing, effectively market your home on the  internet and showcase your home to top agents in the Greater Albuquerque Area.

Last, but definitely not least, we need to talk about the condition and appearance of the home.  Buyers may see seven or more homes in a single day. The most memorable home will be the one that seemed the brightest, the most spacious, and the most cheerful.   Remember, clutter can distract a buyer from the beauty of your home.  Remove the clutter and a buyer will be able to better envision themselves living there.  A real estate professional can offer guidance in that department.

It pays to have a Realtor working for you on both sides of the deal! 

Call my team today for more information on how we can help you! 505-923-4730 

August 2014 Market Statistics

In the month of August the Greater Albuquerque Association of Realtors reported 895 closed single-family, detached homes and condos.  Almost tied with the 898 sold this past July and 5% below sales we experienced in August of 2013.  We also saw more than 950 pending sales in August.  I’m encouraged by those closing numbers and at the same time I am closely monitoring supply and demand as with 1700 new listings in the month of August we have an oversupply of inventory of 5500 homes.

As usual, we saw quite a bit of activity in the Northeast Heights.  What was different this time around was an increase in activity in some areas West of Coors.  The southwest and northwest heights each had more than 40 sales in the month of August.  And I have to mention the East Mountains, as I do quite a bit of business out there and also live out there.  The market is still very slow.  In fact in the month of August there were only 41 detached homes sold.  That’s less than 5% of the total detached sales in the Greater Albuquerque Area.  That area continues to be a challenge, but we are seeing activity.  That’s why it is so important for today’s sellers in these tougher areas to be realistic about pricing and realize that they are constantly in a price war and a beauty contest. 

Maintaining our market’s consistency, we saw most of the sales under that $250,000 mark.  In fact 75% of sales last month were under $250,000.   22% of total sales were of homes and condos in the $250 to $500,000 range.  That means only 3% of sales were over $500,000 last month. 

       

Top Means for Buyer Appeal

Inventory of available homes is dramatically increasing. I want to share some tips on what sellers can do to help their home appeal to buyers! When you put your home on the market, you are entering into a price war and beauty contest! Let’s focus on the top objectives to concentrate on when preparing your home for a showing!

Great, what’s number one?

Without a doubt, curb appeal. It’s the first thing buyers see on the internet, and when they pull up to the house. Buyers will decide to see your home or rule it out based on that first impression. Cleaning the yard, fresh paint on the trim, making it inviting, is vital.

I can understand that. What can you advise about the interior?

When a buyer is going to look at your home, they’re not trying to view it as your home, but instead to imagine themselves living there. Remove excessive personal belongings and clutter. Focus on the primary areas such as the kitchen, living room, and owner’s suite. These are the areas that cause a buyer to fall in love with your home! There’s always a balance between living in a home and having it ready to show. Too many personal photos can be overwhelming, but a few family photos strategically placed can show that this is a happy home for a happy family! A common mistake we see is a house looks amazing, and then you open a closet and it’s like an old sitcom scene with things flying out and hitting you in the head.

Anything else that comes to mind?

Our clients often ask us to give staging ideas, which we’re happy to do. There are professional stagers that may charge up to a few thousand dollars. One of the benefits we offer our sellers is that we have partnered with a fabulous stager who will come into your home for a nominal fee for 3 hours and work with you to help rearrange and regroup your existing furnishings and décor! This will help maximize the show-ability and sale-ability of your home, giving you the best chance of winning the home beauty contest! 

DIY Homebuying

Can you tell us why it's not a good idea to buy a home without using a Realtor?

Absolutely! Buying a home without using a Realtor can definitely be a risky choice. A buyer might think that they're making a smart financial decision in trying to cut expenses by not enlisting the aid of an expert in the real estate industry, but in reality, they could be making exactly the opposite.

Why should buyers elicit the help of a Realtor?

It's simple. Realtors, like myself, are experts in their profession! Buyers who try to represent themselves in a real estate transaction may have knowledge based on previous experience with buying or selling, or reading some real estate know-how books; Realtors, however, live and breathe real estate. And while books are great (I myself read up constantly), they don't represent all of the complex rigors and rules of our current housing market. It's our job to know all of the ins and outs of every real estate transaction, as well as to make all aspects of the sale as smooth and swift as possible.

Can you give us some examples of times when a Realtor is a necessity in a real estate transaction?

Well, I believe we are needed throughout the entire process in order to ensure a great transaction, but let me give you a couple of specific examples of where we are an absolute necessity. First of all, the biggest thing we are needed for is to help clients weave their way through the many dilemmas that plague current market - loan qualifications, appraisals, and renegotiations. Buyers and sellers hire agents that know the process and understand market value so that they don't pay too much or sell too low. And at closing time, unrepresented buyers are at a huge disadvantage. The reality is, if they're in a multiple-offer competition over  a home, sellers and their agents would much rather work with a buyer who is represented by an agent like myself that has a good reputation of closing home sale transactions. In other words, you could be out of the running because you're unrepresented and that shouldn't be a risk you're willing to take on possibly the largest purchase you'll ever make.

As always, who do you know that needs to buy or sell real estate today? Thanks!!

Why Keller Williams Realty? with Marc Guggino

This week we had a guest speaker, Marc Guggino, Qualifying Broker of Keller Williams Realty, discuss our company, some of the reasons why Cheryl switched from Prudential New Mexico Properties to Keller Williams Realty, and even the fun details of his personal history with Cheryl!