There was a good article in last month’s C-Ville Abode highlighting three tips (provided by yours truly):

1 – start talking to a real estate professional in January

2 – Detach emotionally.

3 – Make your place spotless.

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Here are some stories for sellers to to read to prepare for the selling and marketing process..

Transcription:

Hey, Jim Duncan here with RealCentralVA.com and NestRealtyGroup.com .

It’s Winter, the first week of December here in Charlottesville and I’m starting to get the e-mails and the queries from people who are thinking about putting their houses on the market in Spring. Now, in my mind, the Spring real estate market really starts now and ramps up late January, early February and March is high time in the Charlottesville area match day when the medical residents find out where they’re going to be.  It is a huge component of our market.

Now is the time to start thinking about it.  

- Start looking at what your mortgage payoff may be.

- Start looking at the projects that you’ve meant to do for the last few years that if you’re going to be selling your house in the Spring really need to be done.  

- Houses need to be in the closest state of perfection as possible in this market because it’s going to become super competitive come Spring.  

So if you’re thinking about putting your house on the market in the Spring, start looking at how realtors are marketing homes. Start getting a short list of realtors you would want to interview in January and February before you put your house on the market. Start asking questions of your friends and family because really and truly marketing a home is becoming much more work. It’s more competitive and you have to have more information out there.  

So in short, the Spring market starts in January and February. If you’re thinking about putting your house on the market, start interviewing realtors, asking them questions, reading their blogs. I have one. I happen to be a realtory. But really it’s a time when you need good, sound, professional advice to help you develop a pricing strategy and a project strategy of things that will bring you the best return on your investment if you’re getting your house ready for the market. And that’s it.

If you have any questions, Jim Duncan, RealCentralVA.com (434)242-7140. Have a good day.

Also … Price Matters.

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I’ve been showing a lot of houses lately. A lot of houses. (and writing an offer here and there as well). This past weekend was a "Chamber of Commerce" weekend – beautiful weather, not much traffic, lots of houses to see … These are a few of the observations from showing about twenty houses over the past few days …

1 – The dead, decaying rabbit in the basement probably didn’t help my clients’ overall impression of the house.

2 – It’s far better to ride with me than try to caravan. Sudden turns (and the occasional U-turn) are easier when there is just the one car.

3 – Vacant houses – consistently about one third of homes actively on the market in the Charlottesville MSA are vacant.

4 – Stinky houses. Floral sprays that are overwhelming from the moment we enter area a detractor, not an enhancer.

5 – Sellers – do this – Stand outside your house and pretend that you are the buyer. Stand on the front porch for a minute or two and look around – what are buyers going to see? What are they going to think? Remove the cobwebs. Paint the trim. Clean the windows. "Good enough" isn’t.

6 – Anecdotally, there are more short sales and foreclosures in the Charlottesville/Albemarle area … I’m showing foreclosures more and more and they are likely to increase. To the listing agents who thought that getting appliances from the dump and putting them in the kitchen is a better presentation than no appliances – you’re wrong. But we had a great laugh.

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Sellers – try to avoid pungent odors (unless you’ve baked chocolate chip cookies – I love cookies) – smells matter.

Transcription:
Hey, Jim Duncan with Nest Realty and RealCentralVA.com here.

I’ve been showing a lot of houses in Charlottesville recently and one thing I’ve noticed is that a lot of houses stink. I don’t mean their condition or the quality of construction, I mean their houses stink. The “dog” house, the “smoke” house, the “moldy” house, the “Renuzit air freshener in every room” house.

Recently the California Scents, the cherry coronado house. It was God awful and that’s not the impression that sellers should want buyers to take away.

When I’m working with buyers we tend to name houses; the cold house, the dark house, the stinky house. It’s not something you want. So you know what? Think about this: you can’t fake clean. It just can’t be done. So if you’re going to put your house on the market, clean it.

Get rid of the dog if you can. Stop smoking for goodness sakes. You probably could afford to stay in the house if you quit smoking. Think about what the buyers’ impression is going to be.

When they’re looking at 15 houses, how are they going to name your house? Do you want it to be the clean house with lots of light or do you want it to be the stinky house with the dog in the basement? Just a thought. You’ve got to be competitive in this market.

Give me a call or an e-mail: (434) 242-7140 or Jim@realcentralva.com or instant message – JimDuncanCville.

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I received this note last week:

"Jim,
Can I just complain about the horrible photos on the Cville MLS? There is a listing with 25 photos and 11 of them are of the kitchen. This house has 3 bedrooms, and there are NO photos of any of them. Am I expected to sleep in the refrigerator? I think it is time for a photo article again. There are some repeat offenders out there. Help them Jim. Help them."

And then a Realtor friend (and remarkable photographer) posted this:

One would think that taking quality photos for marketing a home would be one of the more basic core competencies of a Realtor, but unfortunately, this too often is not the case.

A few of the more critical faults:

1 – No pictures.

2 – ONE picture.

3 – Pictures of everything but the interior.

4 – Not enough photos (the Charlottesville MLS allows up to 50 pictures)

5 – Not enough pictures of everything.

Statistics say that approximately 85% of home buyers search online. Why in the world would a seller allow his or her hired representative to be so delinquent in the marketing of his or her most valuable asset? Heck, even things for sale on craigslist have photos!

On homes that have been trashed, people still want to see what the inside looks like. Not every home is going to be beautiful (and none are perfect) … but buyers understand this. And they still want to see more. More of the inside, more of the outside, more of the street view, more of everything.

Ultimately, in all things real estate, the client is responsible. If you as the seller are not checking your Realtor’s efforts on your behalf, you are failing to do your due diligence in ensuring that your home is being marketed effectively.  And really, what I say doesn’t matter. What should be most concerning is that buyers are, rightly or wrongly, dismissing your home if the pictures are bad or non-existent.

Thank you to the reader who sent that to me via my meebo widget (it’s in the sidebar). I have an idea about bad Charlottesville MLS photos. If you’re game to try, please contact me. Frankly, I think the pictures I take and have processed look pretty good.

——————-

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PR has changed; so has real estate marketing. A simple sign in the yard, an ad in the weekly paper … none of this is new to buyers, but it seems to take time to make its way to the full

Print advertising doesn’t work to sell homes. Advertising real estate in print accomplishes two things:

1 – Placates a seller who wants to see their house in print because they want tangible evidence that their Realtor is doing something. I’m all for satisfying clients, but I’d rather not be condescending to them, and that’s just what I believe advertising in print is.

2 – Helps a Realtor or real estate firm brand himself/herself/themselves. This is the big one and it’s a bit counter-intuitive. Print advertising doesn’t sell homes, but it may convince potential sellers that X Realtor sells a lot of homes because he advertises in a medium that has proven ineffective for selling homes. Got it?

In a meeting with a developer a few weeks ago I told him that one of the things that we at Nest could do for him is listen to his BS (his words), his stream of consciousness that makes his project what it is – distill and refine it and then package and distribute it to the right audience.

You just can’t put a vision into a print ad – you need context, photos, video, text … if I could do a scratch and sniff ad online I would!

Real estate is marketing, sales and client representation. Print is environmentally unsound, at best, and a waste of money at its worst.

If you’re a seller, your property has a story, too.

I didn’t intend for this post to become a discussion about the merits of print advertising, but here we are. My intent was more to define the role of marketing and advertising in this new age.

Of note, the Daily Progress has partnered with Zillow … in 2007. See below for the email I received last week.

Full text of the email I received last week from Zillow … I’m not attaching the referenced powerpoint slide.

“My name is — and I am the Account Executive with Media General Interactive in the Charlottesville Market. If you do not recognize the name Media General we own the majority of the newspapers & magazines in the area (The Daily Progress, Richmond Time Dispatch, The News Virginian, Madison County Eagle, Orange County Review, Greene County Record, Lynchburg News & Advance, Charlottesville Business Journal, Home Style Magazine, etc) I handle all of our Interactive (Internet/Online sites) Media Advertising related to the web-based versions of our daily & weekly newspapers, magazines, TV stations, etc.

Media General has recently partnered with Zillow.com and I am now the local representative in the Charlottesville and Albemarle Area for Zillow.com. I know you list properties on Zillow.com so wanted to introduce myself as your local contact and also hope to be able to setup a time to stop by to meet with you and show what else Zillow can do other than the basic free uploading of listings like most Agents and Agencies do. You might not be aware exactly how you can get your name and listings recognized much more than being compiled into a list when people do property searches. What I would like to talk to you and/or your team about how you can “Showcase” and/or “Feature” themselves & listings so you can standout and be more successful in building client base and selling properties.

Please take a look at the attachment for what I mean what I say “Showcase” listings.  The Listings I circled in Red is the Showcase position. Zillow.com allows ONLY 2 showcase ads per zip code per month. These do not go into a rotation nor do they share the space with anyone else. Any realtor who chooses to Showcase themselves will be seen by 100% of the traffic that searches for listings in the Zip Code they choose to Showcase themselves in (Agents are more than welcome to Showcase in multiple Zip Codes and often do). An excellent example of how much exposure one could get is in March 2009 the Zip Code 22911 was searched 2,259 times. If you had chosen to Showcase yourself in either 1 or both showcase positions, everyone of those 2,259 searches within 22911 Zip Code would have seen your picture and one of your Showcase listings! Chances are you would have received a lot of inquires on yourself as a realtor, your listings and most likely gained quite a bit of contact from prospective homebuyers. The best part of showcasing yourself is it only costs your Agents $20/month to been seen by everyone searching in a specified Zip Code. For $20/month and the potential revenue they can generate there is not a better option I can think of. Unlike the listings within Zillow.com where the ranking of the listing in the results page is based on how long it has been active on Zillow.com this will be seen at the top of the page to everyone on May 1st and still be the first Listing they see on May 31st .

If you are available for me to stop in I would definitely like to explain it to you further instead of trying to understand through reading. But I definitely think it is something that would increase success and make you standout amongst everyone else in the area!

Please let me know when you would be available for me to stop by to talk to you further or when I could plan to have about 5 minutes of your time. Feel free to email or contact me at my number below.”

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There is a challenge, regarding the pending announcement from Nest. I mentioned it on Twitter:

Nest is about to make a huge announcement. A *really* huge announcement. Stay tuned.

And it is a big one. But …

Here’s the challenge:

We need to define how and why this matters to potential buyers and sellers in Charlottesville and Albemarle and Central Virginia, because it absolutely does matter. Realtors will get it, but I and we are more concerned about how we can convey the how and why to our existing and potential clients.

We know it matters, we can feel it, and can describe it in a thirty to sixty minute conversation, but we need to distill this conversation into a more communicable message; and we will.

Being a partner in Nest is, to use the word in the truest sense, awesome. Communicating that sense, our story, and most importantly how our clients benefit is next.

As Keith said in his post about the pending announcement:

I will go more into this listing in future blog postings, but there is one thing for certain. I would not have this listing if we had not started Nest. I’d like to think I’m that good, but it is about my team and the vision that we share together. It is how that vision is playing out in our actions, our marketing, our space, and our clear and directed philosophy. That is why we as a team have this listing.

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We expect to be copied – on our signs, on how we market, on how we work with clients – and that, in and of itself, is a good thing. Will others do it better? I’d like
to think that no one else can do what we have done, but I’d rather not underestimate our competition .

Heck, I and we copy other people as often as we can … first mover is cool, but sometimes the real skills are recognizing emerging trends and technologies and then having the gumption, wherewithal and ability to implement said trends and technologies.

The signs are an extension of Nest’s collective intent, start towards our “one size does not fit all” philosophy …

Downtownenvy’s comment the other day hit the nail on the head (bolding mine):

I like this! Not only do you get a price on the property without stopping the car, but this sign is actually more about the property for sale than the agency representing it. That’s refreshing. I would love it if I were a seller.

It’s not about us, it’s about the client.

Update 26 May 2009: I’m going to be transcribing these videos from here until my new found partner stops working with me.

Hey! Jim Duncan, RealCentralVA.com here. It’s Wednesday morning and lots to do. Buyers and sellers are crawling all over the place which is wonderful! I think there has been an up-tick in activity on both sides of the isle.

I want to talk today about innovation. If you saw the release of Nests’ new signs (I’ll have a link here at the bottom) they’re pretty kick butt. That was evidenced by the fact that NBC 29 even did a 45 second segment on how we have shaken things up in the real estate market here in Charlottesville. I think it’s pretty cool.

The one challenge that we’re facing is that we expect to be copied. Take the fact that flattery is best shown by imitating. At least two people in our market have bought Diverse Solutions as a search since I implemented it about six months ago. So thank you Diverse Solutions for having a great product.

So what do we do? We expect to be copied. We expect people to emulate what we are doing, and frankly, I wouldn’t be surprised if some of them do an even better job than we do. So that’s a really great thing though because it shows that real estate is changing. It shows that people have to strive to keep up and get better and realize that stagnation which has been the rule in Real Estate for the last several years is no longer good enough. Good enough was good enough to get by and survive and sometimes thrive, but now, we’ve got to change every single day. New data, new information, new technologies and that’s a really cool thing. So it’s keeping us on our toes and holding us accountable through what we see online and also by seeing how our competitors try to keep up with what we are doing.

That’s it for Wednesday. Talk to you soon.

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As a cost-saving measure, all listings I market will have to be priced at $360,000.

Kidding.

This is our first attempt at doing custom yard signs. Some developments won’t allow post signs, others require their own, neighborhood-approved signs in accordance with their homeowners associations’ regulations … some neighborhoods don’t allow signs at all.

One size does not fit all, and this is but one way that we are seeking to re-define how real estate is done in Charlottesville and Central Virginia.

We want to market our clients’ homes, not our brokerage.

The early feedback has been promising.

- “I love that the price is there!”

- “I love the interior photos!”

- “I think sellers are going to be wild about these!”

- Phone number is too small, sign’s too busy. (We’ll work on this)

- “am surprised that your contact info (esp your website) isn’t more prominently displayed” (This will be addressed in the next generation)

The next ones will be better.

But … do they work?

They did here -

Here’s the really interesting part. After hanging the sign I started to pull away and had to stop and get my camera out again. Three cars in a row stopped to look at the sign and one actually sent their child out to get the flyer.

So… within minutes of hanging the sign I had eyeballs from three cars and conversion on one; you have got to love that kind of impact! BTW, the first thing my clients said was they loved the sign. I remarked how standard signs only tell people a house is for sale while marketing for the brokerage. One of the ideas behind a custom sign is to encourage people to stop the car and get out to read the sign (thus increasing the possibility of interest).

Saturday and Sunday I held an open house and the feedback I received from the nine to ten sets of people who came through was universally positive. Positive feedback is good – constructive feedback is better.

Now, how long until we’re copied?

Update 23 March 2009: NBC 29 did a nice story about the signs.

Credit where credit is due -

Greg’s series of posts on custom yard signs.

- A real estate sign of the times: Our first custom yard sign printed in both English and Spanish

- Describing Mariana and Derek’s signs in Colorado Springs

- Describing John Kalinowski’s signs in Northeast Ohio.

Our graphic designer.

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More to come …

Feel free to see them for yourself – I’m holding an open house today from noon to four and tomorrow from three to five.

Feedback – candid, blunt – welcomed. This is our first run; they will improve.

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This is what I tell my clients – a radon mitigation system accomplishes at least three things -

1) Provides peace of mind – for homeowners and buyers

2) Can be an asset when you sell your home – it’s one less potential objection from the buyers

3) It provides for a safer environment in which to live.

Radon is a colorless and odorless gas that may cause lung cancer.

Do we have it in the Charlottesville area?

In my experience, about 50% of the houses I sell have “actionable” levels of radon – described by the EPA as being more than 4 pCi/L.

What does this mean to me as a buyer?

You may want to have the house you’re considering buying tested for radon. If the levels come back high, you may be able to negotiate with the seller to have the radon mitigated.

How much does it cost?

Painting with a broad brush – testing generally costs between $125 and $150. Mitigation generally costs between $1200 and $3000.

Everything I’ve been told is that the short-term test was designed specifically for the real estate transaction; long term tests are supposedly more accurate.

Often, at the time of sale, it is desirable to know a building’s potential for radon exposure, independent of how the building is currently used. Short-term tests are typically conducted over a two or three day period. Results of short-term tests represent the radon potential of the home, rather than the actual exposure encountered under normal living conditions, unless residents keep the home’s windows and doors closed year-round. That’s because EPA guidelines for short-term radon tests require “Closed-House Conditions,” to promote maximum radon concentration during the brief test period.

Also, if it rains while the test is in place, the results may come back high.

In most buildings 95% of the radon entering the structure comes from the rock and soil under it. The radon is pulled into the building by air pressure differentials. These differentials are created by natural and mechanical ventilation. Natural ventilation occurs because of stack effect (hot air rising in the home), wind, and temperature differences between inside and outside air. Rain and low barometric pressure can also increase radon entry. Exhaust fans in the home, as well as negative pressure relative to the outdoors caused by heating systems also increase radon entry.

Start your research at the EPA’s site.

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There’s nothing here that’s necessarily ground-breaking, but a clever refresher is always welcomed (and who doesn’t love a little viral video?)

1 – De-Clutter
2 – De-pet
3 – Leave during showings
4 – Strongly consider the first offer
5 – Lowball offers aren’t insults – they’re a starting point
6 – Update, clean and paint
7 – Curb appeal matters
8 – De-personalize
9 – Lighten the house
10 – Fix broken stuff

Not included – #11 – Price to the market; what you owe does not matter to the buyers or the market.

Thanks to Lani at AgentGenius for sharing.

Update: Stephanie has a very good and related post – 10 Ways To Maintain Or Improve Your Home Value

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Last week I posted Posts with Enduring Interest – Take Two – Just for Buyers; this week it’s the same post but for Sellers. When speaking to clients or potential clients I find that I refer to this blog frequently; having written for

This is one of my favorite posts I have ever written due to its simplicity – There are No Little Deals

There are no little deals.

Every transaction is a huge transaction for the buyer, and usually the seller, too.

Dismissing the “little” deals as such is detrimental to everybody involved. We were all, at some point, a “little deal” ourselves.

- Dual Agency – Who Benefits? Answer: The Realtor.

- Selling a House is No Fun

- Sold Comps Now Matter Less (written in February of 2007 and it’s as true today as it was then)

- Will Sellers Believe us Now? With regards to print advertising’s ineffectiveness

- Words all home sellers and listing agents should read – on print advertising, effective pricing and pictures.

- Sellers are Watching – and commenting – Sellers – make sure you check the MLS listing for your home – and tell your Realtor to fix it if he/she doesn’t post enough photos! (The Charlottesville MLS now allows 50 photos!)

- Great questions for a seller to ask when interviewing a Realtor to represent you in the marketing and sale of your home/investment property/land – you’re hiring someone to represent your best interests (and will likely pay him/her a fair amount of money to do so); shouldn’t you ask a few questions first?

- Required Reading for Sellers – On pricing among other things

- An interesting post regarding photos in the MLS from a consumer’s perspective -

In Charlottesville, Albemarle, Fluvanna, Greene, Nelson and Louisa -

There are currently (as of 2 September 2008) 2,550 properties currently on the market (almost exactly the same number as June of 2007).

263 have only one photo

2234 have multiple photos

53 have no photos (16 are new construction)

- More on why no photos are bad.

- The Full Commission myth is just that – a myth

- How to differentiate your home from the competition

If you like what you’re reading, please subscribe to this blog and please contact me with any questions you might have.

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Looking through the archives, I came across this story -

To Sell or Not To Sell? From September 2005

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There is no “full commission” anymore, just as the term “discount” is irrelevant. Everything is negotiable – up and down. Heck, I even do pro bono work (sometimes not intentionally).

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The market is speaking. When we say that print advertising is a means by which to satiate sellers and not an effective way to market a house, will sellers finally take note of the reality of the market? The LA Times’ shuttering/merging of its real estate section is a sign of the times, and one that Realtors and Sellers should recognize (I think that Buyers already know this). One wonders how long local real estate publications and sections have for this world.

More at BHB and Seattle PI asks – Is Real Estate Newspaper Advertising on its Death Bed?

Even more at the WSJ.

Related posts:

Why Use Print?

Why Print Advertising Doesn’t Make Sense

Newspapers remain (somewhat) dead

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Getting feedback from Buyer’s Agents is one of the most persistent challenges a listing agent faces, yet good feedback is absolutely crucial to understanding buyers’ mindsets to help best advise sellers. Note this feedback received yesterday on one of my listings:

Shows much better than all the competition. My clients liked it the best of any they saw (here – about 15 minutes/10 miles to the City). They bought in (town) however. He will be at the JAG school and easy commute and gas prices made them choose in close.

The trouble is, when showing forty plus houses a week, it’s that more challenging to elicit feedback from Buyers Agents …

As a recap, If You Don’t Think Gas Price Are Affecting Buyers … You’re not paying attention.

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It would appear that Gov. Kaine thinks so. (thanks to Richmond Sunlight for pointing out this article)

Kaine is proposing a statewide 25-cent increase in the grantors tax, which is now 10 cents per $100 of assessed value, that owners pay on the sale of a house.

First, the grantor’s tax is paid based on the sales price of the house, not the assessed value.

Nuts and bolts – currently the median price in the Charlottesville area is about $275,000. Thus, the grantor’s tax paid by the seller on that particular transaction would be about $275 – and that’s a lot of money! If the tax is increased to 25 cents $687.50. Note also that this tax is paid only when a property sells (which is happening less and less frequently).

Make no mistake – Virginia’s (and the localities’) transportation systems need help; they need maintenance and they need new infrastructure – roads, bike paths, rail lines – but taxing only one segment of the population that uses the system is wrong. It is difficult to get hard, accurate data on what percentage of people in this area own their homes, but let’s assume it’s anywhere from sixty to seventy percent. Thirty to forty percent of people in the area won’t pay this tax, yet they will still use our roads, buses, etc. This is not a question of fair, but one of whether this is a reasonable proposal.

One reason that the grantor’s tax is proposed is because it is a bit of a hidden tax – it’s just another one of those fees that gets thrown together on the HUD-1 at closing. In the hot market, no one questioned the tax; now every nickel counts.

Why not a broad-based tax that everyone would pay (gas tax), other than lack of political and intestinal will and fortitude?

To target one segment of the population for a tax that needs to be focused on the entire population, regardless of the state of the housing market, is not right.

The best prediction from the Washington Post article goes to lobbyist Charlie Davis -

“At the end of the day, maybe putting a ‘lockbox’ on transportation funds, maybe a local taxing authority, but that is it. Give Kaine credit for pushing for something. The Republicans can be tagged as obstructionists but . . . Kaine came back with almost the identical plan that was shot down last year, so which is more foolhardy? But the session will provide ample opportunity for a lot of social interaction to discuss the presidential campaign and enjoy some wonderful cuisine at the Capitol snack bar.”

And he’s probably right.

Related posts -

Whom should we tax?

A few Transportation bills

Too funny not to post – Copy of the Republican Transportation Plan

Update 06/24/2008: C-Ville has a good article about the state of the transportation debate, including this:

In the event that Kaine’s latest bill goes through unscathed (which is about as likely as UVA winning this year’s NCAA football championship), we the people of Virginia would have the pleasure of paying: 1 percent more when we buy a car; $10 more for annually registering our cars; and, when we sell our homes, a 250 percent higher “grantor’s tax,” which would go from 10 to 35 cents per $100 of assessed value. Most of the $1 billion generated annually would go to highway maintenance, but the revenue from the grantor’s tax increase—about $150 million annually—would go toward mass transit.

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Even real estate contracts.

If more Realtors and buyers and sellers could or would recognize these simple facts, we would all be better off.

Good negotiations are not personal. When buyers and sellers focus on what the other person is getting, negotiations deteriorate.

I remember the conversation during the hot market about how the “seller shouldn’t make that much!” quite well – and each time it was irrelevant, but important to the buyer to have – if only to work through it.

Focus on what matters. Standing on principle and positions is a failing stance.

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Seen in the Charlottesville MLS this morning for a new listing in a great location close to Barracks Road and Barracks Road shopping center -

!!! NOTE!!!NOTE!!!NOTE!!! This house had a fire. During the reconstruction house was foreclosed on. THE DRYWALL STAGE HAS BEEN COMPLETED. THERE ARE NO KITCHEN CABINETS, NO BATH ROOM FIXURES. APPLIANCES ON PREMISES ARE NOT WARRANTED (May not work) HEATPUMP OR FURNACE IS DISMANTLED. MUST visit to inspect. STRICTLY BEING SOLD “AS IS”. BECAUSE OF STAGE ELECTRIC SERVICE CANNOT BE TURNED ON. BALANCE OF COMPLETION IS IN YOUR HANDS. GREAT LOCATION!!!!

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