Use These Words to Sell Your Home Faster

CoreLogic, a real estate data gathering firm, recently published an article on their Insights Blog that actually tells you what words to use (and not use) to describe your home if you want to sell it fast. You can read the article for yourself on their website, but here is a quick summary:

Words that sell your home faster Words that sell your home slower
Fenced backyard Golf course
Open concept Gourmet kitchen
Natural light Ceramic tile
Updated kitchen Granite countertop
Single story Two story

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

The Biggest Lie You’ll Hear When You Sell Your Own Home

Do you what they call a buyer who makes a lowball offer in today’s market? Renter.

FSBOI can certainly understand a home seller wanting to sell their own home. There are three compelling reasons to do so:

  1. In today’s market a properly priced home will practically sell itself
  2. Most buyers find a home online, without the help of a realtor
  3. It saves a ton of money

Of course if you do sell your own home, you will likely encounter an old wives tale that has been passed off as the truth. The story goes that when you sell your own home, savvy buyers will know that you are saving the commission and will expect you to pass that savings on to them, so they will just subtract that amount from the “fair” offer they make you.

Maybe that logic works in a buyer’s market. Then again any lowball offer may work in a buyer’s market, depending on the motivation of the seller. But in the seller’s market like we have today in most areas, following that logic will keep you on the outside looking in.

The truth is that most homes for sale today are extremely competitive, tend to sell quickly and for over the asking price—even homes being sold without a realtor.

So, go ahead all you FSBOers. Take some great photos, price your home intelligently and don’t worry about passing on commission savings. It’s just a myth perpetrated by those who don’t benefit when you sell your own home.

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

For Sale By Owner: The Missing Ingredient

There must be a hundred new companies exploiting technology to try and do away with real estate agents. And no matter what they call themselves, they are all essentially the same thing: For Sale By Owner (FSBO) platforms. Let our technology help you sell your home without a real estate agent.

FSBOThere is little doubt that the days of real estate agents are numbered, if for no other reason than millennials detest the thought of using them. But until that day, savvy home sellers will try and sell their homes without an agent using these new services. And regardless of how well thought out or comprehensive these new services are, all the home sellers will struggle to sell their home because of one very low tech, missing ingredient: a home showing service.

What is a home showing service? A company that helps For Sale By Owners sell their home by showing it to prospective buyers.

You see, no matter how high tech and online the home selling process becomes, home buyers still want to get inside the home to see it and they want to do so WITHOUT the home owner there. Showing prospective buyers a home, whether at an open house or one at a time, is a job usually performed by the listing agent working for the home seller.

For Sale By Owners don’t have a listing agent to help them show their home so they try and perform that service themselves, but that’s a mistake because it scares some buyers away.

The advantage of a home showing service is that it appears to prospective buyers that the home is represented by a real estate agent. There is a For Sale sign out front with a phone number to call to arrange an appointment to see the home. When the buyer calls that number to arrange to see the home, a person professionally dressed and knowledgeable about the home meets them there to let them in and to answer any questions they may have about the home. A good home showing service can even pre-screen buyers to make sure only serious ones get in to see the home.

The real trick to selling a successful FSBO is making sure it doesn’t look like a FSBO. And unlike a real estate agent, who expects a percentage of the home’s selling price, a home showing service can provide their service for a small, flat fee.

A home showing service is the low tech solution to propel residential real estate into the 21st century. Who wants to start one?

 

 

 

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

The Great American Real Estate Ripoff

If you sell your $300,000 home in the US or Canada today, you can expect to pay real estate commission of around $18,000 (i.e., 6%). However, if you’re fortunate enough to sell that same home in say the UK or Australia, you will only pay about $4,500 in commission. Have you ever wondered what the American home seller gets for that extra $14,000? After all, homes seem to sell just as easily in other countries as they do here.

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The answer to the question, what does the American home seller get for that extra money is simple. Nothing. It’s con, a fraud, a ripoff. Chang-Tai Hsieh of the University of Chicago has another name for it: social waste. Whatever.

Economists are generally at a loss to explain why this ripoff persists in the Internet age with unrestricted access to home information, but I think the explanation is pretty simple. A long time ago someone got the idea that American home buyers are so clueless and scared about buying a home, that they should have a real estate agent help them AND the seller should pay for that hand-holding. Brilliant.

How much would a buyer’s agent make if the buyer had to pay? Nothing. We know that because in countries where the buyer is expect to pay for their own agent, there are almost no buyer’s agents. Hey, if a buyer has an extra grand in their pocket, it’s going to a bigger down payment on a nicer home, not to some real estate agent. If they have to pay for an agent themselves, somehow buyers figure out how to buy a home on their own.

To make matters worse, what’s become abundantly clear in this age of high tech home buying and selling, is that buyer’s agents don’t even need the commission that the sellers pay. Buyer rebates, where the buyer’s agent gives half or all of their commission to the buyer, are all the rage today.

Never give a sucker an even break

So, why do home sellers continue to pay for buyer’s agents who clearly don’t need the money? For the same reason Bob the baker pays Vito protection money: extortion. You see, the buyer’s agent may not need the money, but if you don’t offer it, they’ll work like hell to keep their buyer from buying your home. They call this little move buyer steering and according to some Yale economists, it’s very real.

Of course this is not a real estate industry problem, it’s a home seller problem. If I’m a buyer’s agent and a home seller voluntarily offers me money, I’m keeping it. So, what can a seller do to extricate them self from this decades-long ripoff? Alone? Nothing. If you put your home up for sale and request the buyer pay for their own agent, your home will likely sit on the market forever.

But, working in concert, home sellers together can put an end to it today. If all home sellers refuse to pay for the buyer’s agent, homes are still going to get bought and sold, just like they do in every other country where sellers don’t pay. Buyers still want homes, and whether they pay for their own agent or do it themselves, they’ll find a way to buy a home. And then the buyer’s agent’s commission will end up where it rightfully belongs: in the home seller’s bank account.

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

Another Realtor Spewing BS

Back in the 70s Robert Ringer wrote a book titled Looking Out For Number One. My favorite part of the book is where he talks about the Tend-To Theory. The theory postulates that people who BS a lot eventually tend to believe their own bull as if it were the truth. I think the Tend-To Theory applies to a lot of people in the real estate industry. Perhaps it’s a survival mechanism.

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Case in point. My newest least favorite real estate agent is someone named Sam. He posted an article on Real Estate How titled Why You Should Hire a Home Buyer’s Agent? Yes, yes, I know the title is not actually a question which makes him look like a dope for having a question mark. That’s not the point.

In the article Sam points out three reasons why home buyers should use a buyer’s agent. And what’s the very first one? Because it’s free, of course. He goes on to say, “As the buyer, you will not have to pay your agent’s commission. It is the seller’s responsibility.”

That makes for great copy and I’m sure most buyers (and sellers) believe it, but it’s a lie. It is NOT the seller’s responsibility to pay for the buyer’s agent.

It would be far more honest (and accurate) to say that sellers in the US have been conned into believing they should pay for the buyer’s agent and like lambs being led to the slaughter, most home sellers have neither the wherewithal nor the backbone to question it, so they just pay it. Plenty of homes change hands without the seller paying for a buyer’s agent.

This little custom that’s been adopted in the US and Canada needlessly costs home sellers thousands while leaving buyer’s with compromised representation. When are sellers going to stand up and refuse to pay for buyer’s agents? No other home sellers in the world do, and homes seem to sell just fine everywhere else. I’m waiting.

 

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

The Surprising Reason Why Real Estate Commission is So High in the US

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Selling a $300,000 home in the US costs about $18,000 while selling that same home in the UK costs about $4,500. Did you ever ask yourself what the American home seller gets for that extra $14,000? After all, homes seem to sell just as easily there as here.

Why are commissions so high in the US? Because home sellers pay it.

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.

The Intelligent Home Seller is Now an Online Course at Udemy

You want to learn to save money when you sell your home but you don’t want to read a book. I get it. That’s why I created The Intelligent Home Seller online course at Udemy. It’s a 2 hour course guaranteed to save you at least $2,000 when you sell your home. How many other $1,000/hr opportunities do you have right now?

ecourse

And because you’re reading this, up until February 29, 2016, you can enroll in the class for 80% off by using this coupon (just click on the link)
https://www.udemy.com/the-intelligent-home-seller/?couponCode=FRIENDSANDFAMILY

That’s eleven bucks for a course worth thousands. It will never be this cheap again. And all Udemy courses come with 100% money back guarantee. If you don’t love the course—which of course you will—you get your money back, all of it.

It’s home selling season for some of you. Why not do yourself a favor and be an educated home seller.

 

To learn how to keep more or your hard-earned equity when you sell your home, check out The Intelligent Home Seller eBook and The Intelligent Home Seller eCourse.