Its All About Relationships

The key to any business is the relationship that a business builds with their clients. The same is true in real estate in Long Beach California. We must build strong long lasting relationships with our friends, family and clients…and keep them going.

I think we all do business with people we know, like and trust. One of my neighbors put their home on the market with another Realtor. Now, I could react in a negative way and get depressed. But the reality is that, my neighbor has had a long time friendship with a local real estate broker in town. And, I always knew that they would call him to sell their home….although it’s been four months now…and it still remains on the market.

I will truly miss them as neighbors when they sell their home.

I reminded myself today, that the key to our business is building long term relationships with people we know and staying in touch with them. That’s why we mail to and meet with our friends, family and clients…we enjoy building long term relationships with people.

In 2008, we are still in a buyer’s market in Long Beach and Southern California. A buyer’s market means that there is more inventory available for sale than the number of homes. So, you, the home seller have to become more aggressive in your pricing and condition of your home; things that you have control over. that we are in a buyer’s market it becomes very competitive for you the home seller.

My Long Beach House is Better Than Your Long Beach Home

After many properties to our buyers, our agents on the team, kind of feel like home owners are in a contest called “My House is Better Than Your House”. Buyers are comparing everything now including floor plan, how the home is staged
or appears…it’s quite interesting to listen to what they truly want in a home. Of course, you will always find people who want to fix up a home but I find that means the home seller is going to receive less on their offer.

Years ago when I started in real estate, on the average, I noticed that traditional buyers inspect 12 homes before deciding to
write an offer…that means that 11 other homes are competiting against your home. The Internet buyer tends to look at less homes in person. The first factor that you need to think about is “Clean”.

The Clean Factor Plays a Big Role in a Home Sale in Long Beach

Most people are turned off by even the smallest amount of uncleanness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is adequately clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more.

Think about how a new model home looks like…every thing is clean, staged and in move-in condition. I would suggest using that as an example.

If you are planning on moving, why not get rid of that old junk now so that your house will appear larger. Make more space. Odors must be eliminated especially if you have dogs, cats or young children in diapers or if you are a smoker. You
may not notice the smell, but buyers do. Most agents have a difficult time communicating to their sellers about the odor.

Read also: Part 1: Setting the price of your Long Beach home or condo

It’s all about the price in 2008 in the Long Beach real estate market is focused on price. Every buyer wants a deal and every seller wants to get the most money for their home. So the question is what is the real value of your home? “Should I list the home for more than it is work to pad it for negotiating or priced it at the current market value or below?”

Determining the Value of your Long Beach home

Determining the value takes many factors into consideration including location, condition and size of the home by square footage. Let’s examine each one in detail. Where is the home located in the city of Long Beach, CA? Your home’s location and setting influence its value. A home inside a quiet subdivision sells for more than the identical home on a busy street.Remote areas typically sell for less than closed-in areas. Views, streams and trees enhance value. You obviously have no control over location.

The Condition of Your Home in the Eyes of a Home Buyer

New homes enjoy a marketing edge over resale homes because they are shiny and clean.  And builders enhance their appeal by offering model homes (clean, bright, decorated in current colors and amenities) for buyers to examine.  Get your camera.  Go out to the front of your Long Beach home and take pictures.  Then, print them out if you have a digital camera.

Look at your home through the buyer’s eyes…perhaps adding some landscaping to the front yard, moving the lawn a little more or trimming
the trees will make it more appealing to a home buyer.

• Curb Appeal Counts BIG TIME

According to the National Association of Realtors®, 92% of all homes are sold…from the CURB. Curb appeal is critical part of selling your home. Take a few minutes to take photos inside too. Your goal is to make your home look like a model home as much as possible. We have a professional home stager on staff that can give you some pointers and tips to making your home standout from the competition. You have complete control over condition.

You can increase value and decrease marketing time by being sure your property is in the best possible condition.

How does the Appraiser Really Appraise a Home or Condo in Long Beach?

There is a difference…if your own a home, then the appraiser, sent out to your property from the buyer’s bank during escrow, will search for comparable properties to yours in the same neighborhood with a similar square footage of 100 square below and 100 square feet above your actual square footage. Now, this measurement does not include the garage. They only includes the living space.

If you own a Long Beach condo, then the appraiser will do the same square footage search but his or her focus are recent sales in your condominium building not the neighborhood.

• Plus, the appraiser looks at recent home sales within the last 6 months.

Pricing Tips to Consider

If IBM stock is trading between 104 and 108, it does no good to insist on selling at 112. Likewise, your home must be priced within the appropriate range. You must actually “sell” your property 3 times: first to Agents representing buyers (65% of all homes sold are sold by an Agent from another real estate firm), second to the buyer and third to the appraiser. Now, the buyer is more subjective and compares the amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size and cost identifiable features in your home against other properties that have sold to determine value for the bank.We will provide you with a price range for you to choose the best listing price…..Stay tuned for Part 2 on Pricing Your Home to Sell

The key to any business is the relationship that a business builds with their clients. The same is true in real estate in Long Beach California.  We must build strong long lasting relationships with our friends, family and clients…and keep them going.

I think we all do business with people we know, like and trust. One of my neighbors but their home on the market with another Realtor. Now, I could react in a negative way and get depressed out it. But the reality is that, they have had a long time friendship with a local real estate broker in town. And, I always knew that they would call him to sell their home.

I will truly miss them as neighbors when they sell their home.

I reminded myself today, that the key to our business is building long term relationships with people we know and staying in touch with them. That’s why we mail to and meet with our friends, family and clients…we enjoy building long term relationships with people.