Have you been trying to sell your home with no success? Are the number of showings dwindling? Is your listing becoming stale among the Realtor community? You may need a reality check.

Most sellers will blame the lack of a successful sale on their Realtor. “They did not do enough open houses.” “I never saw any advertising.” “Their brochure was no good.” “The photos were blurry.” While any or all of this may be true most of the time the real reason the home did not sell was because of the unrealistic asking price. A nice home properly priced on the MLS system stands a very good chance of selling even if there are no open houses, blurry photos, bad brochures or little advertising. Realtors and buyers can eventually sniff out a good buy.

Certainly, there are times when bad marketing can affect a sale or the sale price. There is no doubt about it. Don’t hire a Realtor that does a poor job of marketing. There are too many great agents out there who do a fantastic job and they generally do not cost you any more money. If they do cost more money it is usually negligible and worth it.

Here are some signs that you may need to be punched with a reality check. Continue reading this post

HomeGain’s For Sale By Owner (FSBO) vs. REALTOR® survey reveals home sellers’ success rates and satisfaction. Home sellers have greater success and higher satisfaction with the home sale process using a REALTOR® than going FSBO.

HomeGain surveyed over 1,000 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Eighty-three percent said they used a REALTOR® to sell their home and 17 percent said they tried to sell their home on their own.

Fifty-nine percent of home owners that used a REALTOR® to sell their home were successful vs. 39 percent of FSBO’s, reflecting a 50 percent higher closing rate for those home sellers using a REALTOR®.

Eighty-one percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.

Eighty-eight percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again. Continue reading this post

It depends on whether you were buying or selling in determining if the 2010 Sarasota real estate market was good or not. Buyers are probably very happy as prices have come down and seem to be holding steady in many segments of the market. While most sellers are probably kicking themselves for not selling sooner and for a higher price. What a difference 5 years can make. Like many other parts of the country Sarasota homes and condos were worth so much more in 2005.

From a Realtor’s perspective things were pretty good in 2010. The  Sarasota real estate market is liquid with a good supply of buyers and sellers. If you priced something competitively there was a strong chance the property would sell. Buyers still have plenty to look at and still have the leverage over the sellers. However, the supply of good properties is dropping and the buyers don’t have the control they once had as the market seems to be bottoming and as the inventory is being eaten up.

The chart below shows inventory, sales and pending sales for the last 5 years in Sarasota county.

Continue reading this post

The national results of HomeGain’s Fourth Quarter 2010 Home Values Survey (conducted from December 1-7) of more than 1,000 real estate professionals and 2,300 homeowners revealed some significant regional differences.

Below are the regional results of the entire survey, categorized into four regions*, Northeast, Southeast, Mid-West and West.

Questions and Regional Results:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you think Barack Obama is performing in his role as President?

Continue reading this post

The economic downturn and housing crisis have been tough on many Americans, and some real estate professionals have been hit especially hard. I have talked to many real estate agents, appraisers, and mortgage professionals who went from busy to super slow in a matter of months.

There have been bright spots with sales motivated by the first time home buyer tax credit and a recent uptick in refinances due to record low mortgage rates, but the past couple of years have not been kind to many smart, driven, hard working, and experienced individuals in the real estate industry. Recently I have heard of more and more professionals say they have decided to or are considering scaling back their real estate work to part time and finding another part time job to help them stay afloat.

While I understand the thinking behind this, and admire the willingness to be flexible, I think it is important to really think through the following issues before wholly or partially giving up a profession you love and have seen success in.

3 Questions to Ask Yourself Before Becoming a Part-Time Realtor in a Tough Economy

1. Will I be able to serve my customers well as a part-time agent?
   If not why would you ask a buyer or seller to stay with you? In this market you need something that sets you apart from everyone else – for the better. If another part time job means not returning phone calls or emails promptly, being unable to accommodate a client’s schedule for showings, and not giving 100% to the homes you have listed for sale and the home search for your buyers it’s not fair to you or your clients. It will also only mean more stress and anxiety for you as you feel that you are letting people down.
2. Will I be poised to reenter the market full force when it improves?
   Most of us in the industry believe real estate values will begin to rise again, and that the market will pick up before too long. Call it the American spirit…or crazy optimism. When the market does rebound will you want to be right back in the thick of things? If you take a step back what will you do to keep your skills sharp, and to stay up to date on the market? How will you stay in front of your client and referral base so they know who to turn to when it’s time to buy or sell a home?
3. Will my income be higher with two part time jobs?
   Sometimes the allure of a steady paycheck doesn’t translate to an actual increase in income. Consider what the part time position pays per hour. Do you see any opportunity to make some changes to your current business that would allow you to increase your income or decrease your expenses by that amount? Sometimes some creative thinking or focused effort will pay off more than moonlighting as a bartender.

If after thinking it through it makes the most sense for you to seek another position, first see if you can find something that is still related to the real estate industry. Your existing skill set will make you a great candidate potentially allowing you to bypass entry level jobs, and it will help you stay connected to real estate. Some examples include leasing consultant or property manager at an apartment or office complex, sales agent for a new home builder, relocation specialist for a large corporation, or even receptionist or administrative assistant for a real estate brokerage.

If you do set your sights outside the industry watch out for employment scams that are especially prevalent in this tough economy. Be wary of any position that requires you to make an up front investment.

HomeGain just added a Home Search tab to its Facebook Fan Page.

Now fans can read the Wall tab for timely, interesting and relevant real estate articles and news, as well as visit the Home Search tab and start searching for homes for sale, get a home’s value, and find a Realtor®.

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