HomeGain.com recently conducted its third nationwide home improvement and home staging Home Sale Maximizer™ survey (previously conducted in 2003 and 2007) to reveal the top 12 low cost*, do-it-yourself (DIY) home improvements for people getting their home ready to sell.  Nearly 1,000 REALTORS® responded to the survey. (See complete survey results)

Thousands of REALTORS and Home Stagers use "Home Sale Maximizer" to advise their home seller clients.

Home Staging is reported to be the 2nd most valuable home improvement project to a seller when it comes to selling a home by return on investment (ROI), according to surveyed Realtors.

Home Staging is also the 3rd highest price increase to a home’s resale value ($300 cost / $1,780 price increase to a home’s selling price, which is a 586% ROI)

82% of Realtors nationwide recommend home sellers do DIY home staging.

Staging has rose on the list of priorities over the years. In 2007 survey results, Lightening and Brightening had the second highest ROI followed by Home Staging. Two years later, Home Staging overtakes Lightening and Brightening.

How many Realtors recommend professional home staging the majority of the time? Continue reading this post

Due to popular demand from the real estate community, HomeGain.com regularly conducts its nationwide home improvement and home staging Home Sale Maximizer™ survey. Past findings from the survey have been a guide for thousands of home sellers in preparing their home for sale.

HomeGain recently conducted a new survey of top 12 low cost*, do-it-yourself (DIY) home improvements for people getting their home ready to sell.  Nearly 1,000 REALTORS® responded to the survey.

The top five nationwide home improvements that Realtors recommend to home sellers, based on average cost and return on investment (ROI) to sellers, are:

1. Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI / 98% recommended)
2. Home staging ($300 cost / $1,780 price increase / 586% ROI / 82% recommended)
3. Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI / 95% recommended)
4. Landscaping ($320 cost / $1,500 price increase / 473% ROI / 94% recommended)
5. Repair Plumbing ($385 cost / $1,250 price increase / 327% ROI / 88% recommended)

Costs are averages and rounded up. For ranges of values, see chart 1 below. For actual price increase, see chart 2 below.

Cleaning and de-cluttering continues to  rank as the top suggested home improvement (since the survey was originally conducted in 2003). This low cost home improvement is recommended by 98% of Realtors and costs less than $200 but has a returning value of nearly $1,700 to the home’s sale price, or an 872% return (ROI).

“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN (AgentEvaluator member since 1999). Continue reading this post

If you don’t follow up on your leads, don’t complain you are not converting leads.

Those who know me know that my only goal in life these days (ok, I have some non work related) is to have the highest conversion rate amongst Real Estate brokerages in the country.   The better we become with our lead conversion (leads to sales) the more excited I get and the more detailed I get in teaching my Agents how to get the most out of their leads.  It’s always a challenge.

Right now my biggest challenge is getting the right Agents who have the work ethic to become successful.

I’ll give you an example.  I have a new Agent, I think this is her 8th week with me so far.  She has her second closing tomorrow and she wrote 3 contracts this past month.  That gives her basically 5 transactions by the time she finishes her first three months with me (she has 120 leads in her system).  Pretty amazing.

I have another Agent, who started with me 5 months ago.  He has closed 3 sales, has 4 contracts on the short sale board and wrote 4 more contracts in October.  Both these Agents have just started their Real Estate career.  They are brand new Agents!

Now let’s look at my 5 bottom Agents.  Continue reading this post

All of us are fully aware of the recent changes in the appraisal industry.  Another victim of yesterday’s market, there is now a “hands off” message that lenders take very seriously.

What I have observed is that the bigger the lender, the more distance that exists between loan officers and appraisers.

For instance, it’s my understanding that Bank of America uses a third party company to set up appraisers…whereas some of the more local lenders are able to “select” a pool of local appraisers thru whom they can rotate business.

As a listing agent, I have found that my input in this new climate is crucial.  My job is not to influence, but to educate.

In a couple of instances, I have opened the door for appraisers who were clearly outside of their geographical comfort zone and the information and comps I have provided were important in verifying a clear market value.

A recent experience clearly confirmed the need for listing agents to meet with appraisers.  The names, location, and exact pricing have been changed to protect the innocent…but, otherwise, this is a 100% true story.

In September, I received an offer on a condo that was listed for $1.45 million in Georgetown (three cheers for Georgetown, right? But that’s another story of market holding strong).  After a round of negotiation, the seller accepted an offer for $1.375 million.  The lender for the buyer was a large, national company.

Although I asked the buyer’s agent to let me know when the appraisal was scheduled, the lender did not  keep either of us in the loop (perhaps he couldn’t…because he, too, was not in the loop) and, because the building had a concierge, the appraiser did his on site inspection without giving me notice. Continue reading this post

Congratulations to Realtor® Andrew Duncan of Keller Williams Realty in Tampa, Florida for being the next $50 winner of the HomeGain Agent Appreciation contest!

A HomeGain member since 2006, Andrew is an AgentEvaluator® Gold Club member, an AgentView member as well as a HomeGain Blogger. “That’s fantastic!” commented Andrew on hearing the news.

The correct answer to “How Many Max Gorillas Are There?” is: 10!

As the Agent Appreciation celebration comes to a close, we are also pleased to announce the Grand Prize winner of $100 — Laurie Hill of Desert Gem Real Estate in Surprise, Arizona.

Laurie has been a HomeGain member since 1999. She is an AgentEvaluator Platinum Club member and a BuyerLink™ real estate agent. “Yeah, that’s great,” said Laurie. “I’ll gladly accept the honor and the $100!”

Thank you to all weekly surprise participants for making it a great Agent Appreciation month. See you next year!

Join us for a FREE, exclusive phone event LIVE on Tuesday, December 8th for the chance to interact with an exceptional team of real estate experts.

Here is your chance to ask a panel of experts within the real estate community questions specific to your own business. You can send your questions in advance, and ask more questions during the call!

Topic: “Gearing Up for 2010 – What REALTORS® Need To Do Now”

When: Tuesday, December 8, 2009

Time: 9am – 10am Pacific / 12pm – 1pm Eastern

Cost: None

Meet The Experts:

Eric Pakulla, RE/MAX Advantage Realty, Maryland

Expert For: “Mastering Internet Lead Conversion”

Mr. Pakulla is a multi-million dollar producer with over 15 years of experience in real estate. The Eric Pakulla Team is ranked the #5 RE/MAX team in the entire United States. Pakulla has received the most coveted awards from RE/MAX International: The Diamond Club and Lifetime Achievement. Pakulla is an elite HomeGain Advisor, HomeGain Blogger, an AgentView member, and an AgentEvaluator Million Dollar Club member.

Chris Tesch, ABR, E-Pro, RE/MAX Bryan College Station, Texas

Expert For: “Propelling Business Through Technology”

Ms. Tesch has over 8 years in real estate and achieves over 60 transactions each year. Tesch earned the RE/MAX Platinum Club Award in 2008. She is a member of many organizations including the American Business Women’s Association (ABWA), Leading Women’s Express Network (LWEN) and Cyberstar Professional, an elite group of less than 200 professionals worldwide that use technology to its utmost. Tesch is a HomeGain member of BuyerLink, AgentView and AgentEvaluator.

Patrick Kitano, Domus Consulting Group and Transparent Real Estate Blog, California

Expert For: “Social Networking Best Practices”

Mr. Kitano is Co-Founder and Managing Principal of Domus Consulting Group, a management consulting firm working with real estate brokerages and Web 2.0 companies to develop technology marketing strategies, and with venture investors on new business models. Experienced in four competitive industries – films, investment banking, internet technology and real estate – Kitano excels at advising Realtors on best practices for success. Continue reading this post