Bolder asked:


Can anyone tell me what the fair market compensation is for sales commission for the broker of a home sale in Colorado is? What should I consider fair for the seller of my home and the buyers agent? Thanks very much! Going through a divorce, have to sell my home…think my soon to be ex and her friend are trying to ***** me on the commission. maybe kicking back some to her on the side. Appreciate any opinions.

TRUMAN

Nelson Stewart asked:


If you’re looking for an interesting way of showcasing your homes, introducing clients to your area or making an otherwise boring home hunting trip into an interesting one, why not try geocaching? Geocaching is a great way to get outdoors and make traversing a community more fun. It also can be the doorway to new ideas on how to market your homes and get the attention of people who are on the fence about buying.

If you’re an accomplished cacher, you know what “geocaching” means. If not, here’s a brief overview: Geocaching began in the year 2000 when people realized that Global Positioning Systems (GPS) could be used to pinpoint locations where a cache was hidden. This cache usually took the form of plastic or metal canisters which housed tradable items and a logbook. It has grown to nearly 850,000 caches logged around the world. For more information about geocaching, head over to geocaching.com

You might think that this is kind of crazy – what does geocaching have to do with home sales? Niche marketing is the answer. The concept isn’t new; there are currently “bicycle Realtors® who offer bicycle tours of homes for sale. There are realties that offer weekly real estate walking tours. So why not take advantage of one of the fastest-growing outdoor sports to encourage people to buy?

If you have clients who are geocachers or are outdoors inclined, a geocache hunt may be a great way to spend an afternoon touring the city. Offering a “Geocache Tour” of your area is an unusual and fun way of getting people interested in the neighborhoods they visit in the course of the tour. Geocaching is growing into a hugely popular sport and many people scouting out locations for their new home would be happy to know that there are a large number of caches in the area.

The geocaching principle can also be used for clients who are house touring. In addition to being a great way to take a break from house touring, your GPS can be used to plot the course of your home tours so that your clients can later review them, along with pictures. This can be a good way to give your clients a little extra information to work with when they make their choice.

If you can get together with other Realtors®, you could try planning a sort of “geo house hunt” of open houses in the area. It might seem crazy, but making a game out of house hunting could be the impetus that makes someone take the next step to buying their first home when they “fall in love” with a house that is on the tour.

Today’s market requires some ingenuity to attract the attention and interest of potential buyers. Geocaching is growing so rapidly in popularity that it is certainly a viable way of showcasing both your business and homes you hope to sell.



DUANE

Lisa Gray asked:


Every home seller dreams of a quick and stress-free sale. However, much of the time this is not the case as the home market has grown ever more competitive in recent months. While we are still seeing some extremely quick sales, this is by no means the average sale anymore. Typical home sales are taking more time for a number of reasons. The national market has cooled off somewhat, sellers are still hoping that the market will revert back to it’s previous state and it is becoming more and more difficult to afford a home. As such, sellers need to prepare their homes properly for sale so as to attract the real qualified buyers at the start of the sale.

Preparing your home for sale has also come a long way in the past years. Years ago all that was really necessary was some paint and a good cleaning. While these principles still form the basis of a good home preparation process, sellers are finding it necessary to think outside the box a bit more. Many sellers think about adding on to the home to increase it’s value but this can be a dangerous exercise if not properly planned. Renovating for sale is all about cost-analysis and whether or not the new price of the home can be justified by the additions. Sellers **** to see their expensive renovations go unnoticed by buyers and they can get quite upset if offers come in that destroy their renovation profit margin.

As you prepare your home for the shows, try and think about what stuff you don’t need in the home. Homes that seem stuffy or cluttered hardly ever show as well as a home that is free of clutter and buyers can move about unencumbered by the sellers belongings. This is also a great opportunity to patch up those areas that could use a bit of TLC. Check all the home’s fixtures and make sure they are in good repair. If they are somewhat dated perhaps replace them with new more modern items. If you have ever walked through a show home try to shoot for that as your final goal. Homes like this have little evidence that someone lives there and this makes it easier for buyers to imagine themselves living there.



ARTHUR

John West asked:


Having planned your home sale carefully and really taken the time to make your home shine like a diamond you may find yourself asking “What’s left that I can do to make this place a little more impressive?” Well, let’s look at at the list and make sure everything is taken care of before we move on. The home has been cleaned and prepared for showing. The furniture is arranged in the best possible fashion to show off the size of the rooms. All surfaces are clear save for a few decorative elements. The yard is clean and clear with trimmed lawns and bushes and well tended gardens. So what’s left?

This is the time when you really want to worry about the little things that buyers notice when they are looking around your home. Or maybe the things that buyers will smell around your home. Pet smells are a big culprit here. If you have pets, chances are that there will be some odor that you may have grown accustomed to and don’t really notice anymore. Eliminating these odors can be a big bonus to any home sale. If you don’t have pets then it’s still a good idea to try and make sure that your home smells as pleasant as possible before potential buyers come to visit. If you are one of those people with a taste for strong smelling or spicy foods, then avoid them for a day or two before the show.

This is also a good time to consider how each room will present to viewers and whether or not any small changes need to be made anywhere. Think about the light in each room. Is it sufficient to light up the room? You don’t want rooms to appear gloomy, especially if the home is showing in the evening. Posters on the walls? This might not be the best selling tool. Replacing posters with properly framed prints can make a room look more complete and cultured.

On the day of the show get up early and do a final clean of the home. Dust everywhere so that everything looks it’s best when viewers arrive. Make sure that any breakfast mess is cleared away and there aren’t any clothes lying about from the past few days. Try to envision that show home in the magazines and as you leave the home for the day think about what viewers will notice first when they arrive and when they first enter the house. Make sure that these are positive things and the show will go according to plan.



ALPHONSE

Kristin Gabriel asked:


There has been a lot of recent news about new home sales jumping from 16 percent in April, the biggest percentage increase since 1993. Despite this positive news, sales and construction activity may not have hit rock bottom yet.

In May 2007, the U.S. Census Bureau reported that new single-family home sales rose from a seasonally adjusted annual rate of 844,000 in March to 981,000 in April. This shows that April sales were off by 10.6 percent since April 2006.

Dogtor Paco’s Lender’s Corner (www.dogtorpaco.com) believes this data indicates perhaps this cycle will be a dip rather than a wave, because the information on prices flew around the market via the Internet. People immediately adjusted their behavior and they’re doing so again.

Now people watching the correct indicators will be waiting for the inventory to bottom out. Inventory disappears once the average time on listing goes higher than about 60-70 days. When inventory disappears, any houses that come on a healthy market disappear fast, taking down the average listing time and making people put inventory back on the market at increased prices.

Those interested can keep track of the housing market by using Dogtor Paco’s mortgage payment calculator to check out the prices for home loans. Visit www.dogtorpaco.com



BRADFORD

Fritz Pfister asked:


Last week I shared with you the danger involved in basing your decisions upon the housing market reports released during the week, because it was dated information, about a month after the fact. Deciding the actions you should take if you are about to list a home based upon that report would be like trying to decide what to wear today by looking at a month old newspaper to see the weather forecast.

The Springfield housing market is slowing. March home sales fell by 104 sales or by 29.2% to 252 from last year. Home listings going under contract fell by 99 or 20.3%. Sales pending today stand at 98 fewer than last year on this date or down by 18.4%, which means April will probably be down from last year.

The first quarter of 2008 experienced closed home sales falling by 161 or 19.4% from 2007, for the fewest home sales in a first quarter since 2001. The 991 home listings going under contract were down by 209 or 17.4%. Both the March slowdown, and quarterly slowdown is unfamiliar territory for this normally stable housing market.

You will hear when the official report comes out at the end of the month that the silver lining is the median sale price and the average sale price was up. That my friends is of little consolation to those that have not sold. One hundred percent of nothing is nothing.

You will also hear that the number of new listings entering the market is also down. The 1361 home listings taken in the first quarter were down by 218 or 13.8% from 2007. This is good news, however due to the falling number of sales, the 1755 home listings available for sale today are the most ever for this date, up by 138 or 8.5% from a year ago.

Overall there is currently a 7.6 month inventory of homes listed for sale. Homes listed between $50,000 and $75,000 have the least with a 3 month inventory, while the $300,000 to $400,000 have the most with an over 16 month inventory.

It was reported this week by the SJR that building permits fell in 2007 in Springfield to their lowest level since 1984. Many of the homes in the $300,000 to $400,000 range are new construction. The Springfield Area Home Builders Association Showcase of Homes this summer will be held at Savannah Pointe with developer John Klemm reporting prices starting at $300,000, creating even more competition for builders with homes already on the market at those prices.

The one price range that really stands out to me is the $75,000 to $100,000 range, the perennial biggest sales range by far. For the first time since I began tracking sales for Let’s Talk Real Estate the inventory of homes for sale between $75,000 and $100,000 exceeds six months.

Why is that important? This is the most popular price range for first time home buyers, the most important buyer in any housing market. Without first time home buyers purchasing first time home sellers listings, the first time home seller can’t purchase at the next level, and so on. That’s why you see the largest inventory in history. Not enough move up buyers, or job growth bringing in new buyers to the market.

There you have it, our market is officially in a slowdown. Let’s count our blessings, we’ve had four great years where the rest of the state and nation tanked. Even with our slowing market we are not in the tank. But people that must sell their homes better be aware of the market conditions if they want to sell.

During the first quarter the CAAR member brokers added 1361 new listings to the record 1604 available to begin the year. The 690 agents in the MLS sold and closed 667 home listings. In other words one in five home listings sold.

I anticipate the low interest rates at near 30 year lows will spark demand, and activity will pick up as it does normally in the second quarter. Even at that only one in three home listings will sell in the second quarter. Regardless the 1755 homes listed for sale today exceeds the 1247 sold in the second quarter of 2007. Expect an additional 1800 to 2000 home listings to come to market between now and the end of June to compete with current sellers.

If you must sell your home, you’d better not make any mistakes in the three areas that determines whether a home sells or doesn’t sell; price, condition, and agent selection.



BEAU

Eugene Articolov asked:


If you have a problem with debt and need cash loans fast, then it’s time to start the fast home sale process. Most property owners have a lot of debt. The UK’s consumer debt mountain is continuing to grow. There comes a time when you need to realise that your debts won’t just go away if you ignore them. Instead, it’s better to find a way to pay them back. Most people have a major asset. Their home is valuable and it’s the only thing they can sell to get the money to repay their debts. If you think you need to do this then ask us about the fast home sale process. Just call 0800 316 7600 to find out more.

You can end your debt problem by carrying out a quick property sale. Let us help you repay your debts by providing the money you need. It can be difficult to admit that you have a problem with debt. People don’t want to say that they have lost control. But if debt is stressing you out and affecting your relationships at work and home, then you need to do something now.

A fast home sale process can end your financial problems. At St Genix Fast House Buyers we are experts in buying property and we specialise in the fast house sale. We will use our experience of this market to offer you a fair cash price for your home. We buy direct, with no need to get estate agents or other middlemen involved. What this means for you is a fast home sale process, with a direct cash sale which can be finished within about four weeks.

If you want to start a fast home sale process, then you may want to complete the deal more quickly. Alternatively, you may want to slow the process down. Just let us know and we will work to suit your schedule. The fast home sale process guarantees privacy and discretion; no one will know about the sale unless you tell them. We can even complete the sale from a distance if you would rather we didn’t visit you at home.

When you arrange a quick property sale, you regain financial control. The process is flexible and the sale will complete when it suits you. Our fast house sale service offers:

Privacy

A guaranteed sale within four weeks

Lower legal fees

No fees to estate agents

Cash in hand when you need it

You don’t even have to move out unless you want to, with our rent back deal. We charge a fair market price and you can avoid the stressful situation of having to find a new home. You will clear your debts and still have somewhere to live.



CLEO

Kevin And Gretchen Koitz asked:


Asking why staging is a vital aspect of home selling is kind of like asking “why bother to clean before the show?” Years ago before staging had not really been defined in the real estate industry, the process was already being done to some extent on most home sales. It is just in recent years that the need has presented itself in enough force to found a whole new business sector. Home staging is now all the rage in the home selling sector and as a result, buyers are expecting more of a presentation when they view a home. In turn, home stagers have turned the average home sale into a fully designed and carefully coordinated showpiece complete with new art and custom furnishings.

The difference is evident when viewing a staged home versus an un-staged one. The difference is actually quite alarming. A staged home is utilizing all the space in the home to show off it’s various assets as opposed to using the space for mere storage. Also much of the time our furniture is an extension of our personalities and a distinct personality can be difficult for some buyers to get past. Visually the homes should lack the sellers personal tastes in art, furniture etc. Many home stagers hold a larger inventory of furniture that can be utilized to accent any room perfectly. Other stagers have simply learned how to accent a room using existing items. Most will be fully capable of both and will make their decision based on the quality and “show value” of the items that are currently there.

With so many homes on the market and the number of qualified buyers in question, it has become a necessity to present the best possible home package. Competition for buyers is stiff all over the country and well presented homes are definitely catching their attention. The big question is “can you afford not to put yourself in that percentage of well presented homes?” In today’s real estate market, the reality is that homes need to have an impressive package to garner the kind of buyer interest that’s necessary to sell a home. Staging is a great way to garner that positive attention.



DENNIS

Marcus asked:


Considering joining KB homes as a new home sales rep. Just wanted to know if anyone new how much they get paid per home?

EMILE

Charlie G asked:


One of these programs allow the posting of an address and then they show the recent home sales and the prices for the sales, but I can’t remember which program does this and I can’t remember the steps to do this. Can anyone help?

AARON