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  • Mistakes that Salt Lake Home Sellers Make. Number 9

    Posted on February 28th, 2011 admin No comments

    The kitchen remodel isn’t quite finished but we can describe the granite counter tops to the buyer. Maybe they will want to pick out their own colors.

    I’m sure the buyers would like to pick out their own colors, but unless you are a developer selling a new construction home this is not a good idea. Buyers fall in love with what they see not what they hear. Ever notice how a model home is finished and furnished right down to the fake family photos on the nightstand and dinner plates on the table? This is because when you are selling a home you are really selling a lifestyle that the buyer feels like they can move into.
    Always have the home ready to sell from the first showing to the last. Otherwise the buyer (and their agent) will use every shortfall to chip away at your price and profit.

  • Mistakes that Salt Lake Home Sellers Make. Number 8

    Posted on February 27th, 2011 admin No comments

    I know the market analysis came in at $275,000 but let’s start at $300,000. After all, we can always come down in price.

    And you will. Study after study show that when a home starts substantially higher than market value, the ultimate selling price is significantly below the market value. Think of homes for sale as if they were products on a shelf. And each shelf represents a price range. If your home is on the wrong shelf, then the wrong buyers are looking at it. The buyer who is looking for a home in your market value will never see your house and those that do see your home need something on that higher price shelf and are not interested in making the appropriate offer on your home.
    Yes, of course we start a little above the market analysis price for negotiation sake. But that spread is a fine line and is one you want to discuss with your agent. Remember, you are paying for professional advice and experience. Use it.

  • Mistakes That Salt Lake Sellers Make. Number 7

    Posted on February 26th, 2011 admin No comments

    I don’t want one of those keyboxes. I could never feel secure knowing that some stranger could come in at any time.

    The new electronic keyboxes are very secure. It would be easier for a burglar to kick in your door than to break one open.
    Only a licensed agent (or affiliate) who is in good standing has a functional electronic key and unique code to open the keybox. This key has to be updated every day and is cross checked against the board of real estate data base of active agents. As soon as your keybox is opened your agent is notified electronically of who entered and when. Your agent can further restrict access to certain hours or force the other agent to call first for a special access code. If there were a kleptomaniac agent out there, the keybox is the last option for gaining access to a home.

    Under no circumstances should you allow a mechanical keybox to be used on your home. These are only about as secure as a old fashioned combo lock. And think about the process for entry:
    A buyer’s agent has to call your agent for the code to the box. This agent almost certainly writes down the code on the MLS printout which has your address and home description. Then guess who gets the printout when the showing is over? The buyer most likely and who knows after that.

    Consider the alternatives to the electronic keybox:

    • Key under the mat (or flowerpot, or mailbox, or…) I’ll bet no burglar ever thought of looking there.
    • Have your agent be present for every showing. Even under the best of circumstances, your agent will not always be available when the buyer is ready to visit. And it is an old real estate adage that buyers don’t come back. There is always something else for them to look at the next time they go out.
    • Show the home yourself. Absolutely not. I have said this before in Mistake #4, but it is worth repeating: You do not want to talk to the potential buyer or worse yet, their agent because it puts you in the awkward position of being asked questions about the property or your motivation. None of which is going to benefit you in negotiations. There is a version of the Miranda warning for real estate. Anything you say, can and will be held against you in offer negotiation.
  • Great Salt Lake video from Downtown Rising

    Posted on February 23rd, 2011 admin No comments

    This is about 18 months old, but still has some great views.  Several of the buildings shown here in construction are now complete.