5 Steps Smart Sellers Take to Generate Multiple Offers in Alpharetta, GA

5 Steps Smart Sellers Take to Generate Multiple Offers in Alpharetta, GA

The Mary Ellen Vanaken Team
www.mevhomes.com
678.929.6529

Home sales (and values) have been on a strong uptick nationwide thanks to low interest rates, freer lending standards and a drop in the foreclosure rate. Sellers everywhere are breathing a giant, collective sigh of relief! But for all of the buyer activity, it seems like most houses sit on one end of two extremes: they either get snatched up the moment they hit the market (with multiple offers and an above-asking sale price) or seem to languish on the market without an offer in sight.

All sellers aspire to be on the multiple-offer end of the spectrum. Fortunately, there are steps you can take to make that happen. Here are 5 steps smart sellers take to generate multiple offers in Alpharetta, GA.

1. Price it aggressively. Homes that get multiple offers are often sold in an “auction” atmosphere. If you think back to the last auction you saw on TV or participated in online, you’ll remember this basic element of Auctions 101: the starting price is lower – sometimes quite a bit lower – than the final sale price.

In fact, it’s the low list or starting price that gets people excited about the possibility of scoring a great value, whether they’re bidding on an antique Chinese pug figurine on eBay or on your home. And when it comes to your home, it’s that same, low-price-seeking excitement that will cause many more buyers to show up and view your home than would have come at a higher price point.

In real estate, more showings are an inescapable prerequisite to more offers.

This doesn’t mean you have to give away the farm, just that sellers who get multiple offers price their properties from a retailer’s or auctioneer’s perspective. Work with your agent through the comparable sales data – as recent and as comparable as possible – and then do your best to list your home as a slight discount, not at a slight premium, compared to the recent neighborhood sales. That will get buyers’ attention.

2. Give buyers and brokers ample access. Put yourself in your target buyer’s shoes. Say there are 40 homes on the market which meet their specifications, in terms of bedrooms, bathrooms, square footage, price range and location. And 25 of those top the list. But they only have time to see 8 today. If the buyer’s broker can’t get into your house today, because you have so many restrictions around showing it, your home could very well miss out on a showing with this qualified, motivated buyer.

It might seem overly simple, but if you want multiple offers, it behooves you to make sure your home is available to be shown today. Every day that it is on the market. A challenge to keep the place clean at all times? Assuredly. But consider your priorities and what is at stake. If getting top dollar for your home is at the top of your priority list, then you have to be ready and willing to deal with the inconvenience involved in churning up multiple offers and getting your home sold.

3. Make it beautiful. Really, really beautiful. The homes that get multiple offers are those with look, feel and function that can be described in one word: covetable. You’re not trying to create a situation in which your home barely edges out the listing down the street in the hearts and minds of your target buyer. If you want multiple offers, you need multiple buyers to fall deeply in love with your home – enough to bid above the listing price, and enough to compete with others for it.

To generate multiple offers in Alpharetta, GA, prepare your home by ensuring it is:
immaculately cleaned from the inside out – closets, basements, garages and crawl spaces included
decluttered and staged to the nines – this includes fresh paint, carpet and other things that need replacing in perfect working order – make sure things like doors, windows and systems buyers test (e.g., stoves, faucets, heating and air conditioning) are not creaky, wonky, leaky or otherwise dysfunctional.

If you’ve done any major home improvements or replaced any appliances or systems lately, market that! Show off how immaculate, adorable and move-in ready your home is now – and tout it’s great working condition for the long run.

4. Expose it to the market. An offer the very first day your home goes on the market may sound like a dream come true. But it might also incur opportunity costs. See, many buyers can’t get out to see homes that quickly – some are unable to house hunt except on the weekends. Listing agents who get multiple offers often plan from the start to expose the home to the market long enough for target buyers to see it and get their offers on the table.

Some agents expressly include open house and offer review dates in the timeline of the listing. It’s not uncommon to see a listing come on the market with a calendar of 1-2 Open Houses and an offer date sometime early in the week following the second one. Ask your agent to brief you on the standard practices for market exposure in your local area.

Setting – and publishing – a timeline for market exposure and offers lets buyers know that they will be able to get to the property and get their offers considered, while still creating a sense of urgency.

5. Be ready to course correct. Is your home one of the houses that has been sitting on the market for months without any action? Do not fret – there might still be hope. In real estate, there’s something insiders call the Sweet Spot Phenomenon, where an overpriced home sits on the market for months with no bites, sometimes even through multiple price reductions. Finally, the seller lowers the price to the ‘sweet spot,’ and it generates multiple offers and sells for more than the final list price.

Yes – there are listings whose sellers net more than they expected because they were willing to revise the list price downward in response to market feedback (i.e., no showings, no offers or lowball offers).

If your home has been lagging on the market, talk with your listing agent about what sort of price reduction strategy is likely to maximize your net sale price. Hint: many more buyers are attracted by chunky reductions or reductions below a common online search price point limit than by tiny, incremental reductions.

For example, you might draw more buyers, and ultimately more money, with a price reduction from $499,000 to $474,000 than with a series of small reductions from $499,000 to $479,000, because there is a set of buyers who may be cutting their search off at $475,000 – so a price cut below that point will expose your home to a whole new group of prospects.

For more steps smart sellers take to generate multiple offers in Alpharetta, GA, contact The Mary Ellen Vanaken Team today at 678.929.6529 and/or visit the team at www.mevhomes.com


5 Steps Smart Sellers Take to Generate Multiple Offers in Alpharetta, GA

Pricing Your North Atlanta Home to Sell in this Real Estate Market!

Pricing Your North Atlanta Home to Sell in this Real Estate Market

Pricing Your North Atlanta Home to Sell in this Real Estate Market by The Mary Ellen Vanaken Team of Keller Williams Realty 678.929.6529

Most home sellers today are nervous and unsure as to what to do to get ready to sell.  Some wonder... is taking a loss on our house inevitable? The answer is no! A great strategic sales plan, coupled with a smart buy in your new location will ensure that you recoup the maximum value for your home.

Strategic Sales Plan

Consult with a real estate expert in your area. Our real estate team, The Mary Ellen Vanaken Team of Keller Williams Realty, are experts in the North Atlanta area and we can help to ensure your house is priced competitively and well-staged. Why? Because while there are always three factors to getting a home sold—location, price, and condition—only two are under your control: price and condition. Of the two, which is more significant? Price. Remember that price will correct bad condition, but condition will never overcome a bad price. So price your North Atlanta home to sell in this real estate market!

Act fast. The best price you’ll get in today’s market is the one you get now. If you wait, it will be lower. And every month the price on your home decreases, your costs remain the same. For example, Keller Williams research shows that sellers who listed their home at the price the agent originally recommended, sold the home 38 days faster. This is over a month of mortgage and tax payments! For a home that cost $200,000 at time of purchase, with 20 percent down and an interest rate of 6.5 percent, selling a month sooner results in a savings of $1101.31 for the mortgage alone, not including the taxes and insurance that the homeowner would be paying during this time.

Don’t worry about where the market has been, keep your focus on where it is going. The price your neighbor down the street got six months ago is not relevant in a market where your house is competing with others from all across town. Again, our team has the kind of long-term, wide-ranging data that will help you decide how to pinpoint your price with precision.

Your Smart Buy

Whether you are moving to an area where prices are in a downturn, or dreaming of nicer, bigger, home in your own town, selling your house now can get you into the home of your dreams. Falling home prices are a great opportunity for a savvy homeowner looking to move up. Even though your house price may be lower, the smaller loss at sale can be made up by greater savings at purchase. For example, let’s take that same $200,000 home, and imagine that it has decreased in value by 5 percent, reducing the sales price to $190,000. At the same time, let’s imagine that you would like to move up and the $400,000 home you have been eyeing has also decreased by 5 percent. That’s a savings of $20,000, and it is a home that is likely to be better positioned for appreciation when the market rebounds.

Bottom Line
Don’t pit yourself against the market, work with the market to get the most out of your house sale.

Allow The Mary Ellen Vanaken Team of Keller Williams Realty to assist you today in selling your home. When you're looking for a partner to help you negotiate the complexities of selling a home, you've come to the right place. The Mary Ellen Vanaken Team of Keller Williams Realty are experts in the North Atlanta Georgia areas, including Milton, Alpharetta, Johns Creek, Roswell, Dunwoody, Cumming, Suwanee, and Duluth. The experience, dedication and strong communication you'll receive here will help ensure the successful and profitable sale of your home. We provide:

1. The Local Advantage - Take advantage of a broad spectrum of technologies and tools to support the sale of your home from start to close.
2. Internet Advertising - Since the lion's share of home buyers starts their search on the internet, top placement on search engines is essential. You'll gain access to placement on Google, MSNBC, and other websites. This will maximize your exposure and bring a large number of potential buyers to view information about your home.
3. Email Campaigns - It's important to "work the network." We can work together to identify the right people to target your home-and get in touch with them by email to drive excitement and interest.
4. Personal Touch - Of course, technology alone won't sell your home. Face-to-face interaction provides the advantage to sell your home-and you won't have to worry about a thing. The details will be handled with care and constant communication, to ensure the marketing and sale of your home go smoothly.

CONTACT US TODAY:
The Mary Ellen Vanaken Team
5780 Windward Parkway, Suite 100
Alpharetta GA 30005
678.929.6529
www.mevhomes.com

 

Pricing Your North Atlanta Home to Sell in this Real Estate Market

Opting For New Home Construction In North Atlanta

Opting For New Home Construction In North Atlanta

Opting For New Home Construction In North Atlanta by
The Mary Ellen Vanaken Team of Keller Williams Realty
678-665-2887
5780 Windward Parkway, Suite 100
Alpharetta Ga 30005
www.mevhomes.com

Whether to buy an existing home or opting for new home construction in North Atlanta is yet another decision to make during the home-buying process. If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms with the home builder. Below are some basic pointers to prepare you for the journey ahead.

Selecting a builder
Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders.

The builder representative and your real estate agent
A builder representative's ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades. A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. Your agent also can look out for your interests in reviewing the builder's contract, which often contains more legal jargon than consumer-friendly language.

It's all about timing
Market conditions greatly dictate a builder's incentive to make a deal you cannot refuse. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it's throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains.

A word about paying up
While there are always exceptions, most builders require a deposit when a purchase agreement is signed. They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money. Make sure you understand every detail in the builder's contract before signing it.

To begin your home search CLICK HERE OR contact The Mary Ellen Vanaken Team of Keller Williams Realty North Atlanta at 678-665-2887. Our team are specialists in the luxury home communities of North Atlanta including Alpharetta, Roswell, Cumming, Milton and Johns Creek.

Opting For New Home Construction In North Atlanta

Practicing Good Seller's Etiquette

Practicing Good Seller's Etiquette

The Mary Ellen Vanaken Team of Keller Williams Realty 678-665-2887

Let's face it, when your house goes on the market, you're not only opening the door to prospective buyers, but also sometimes to unknown vendors and naive or unqualified buyers. As with any business transaction, there is an expected protocol to how sellers, buyers and their respective agents interact. Should you find yourself in a sticky situation, alert your agent so he or she can address and remedy the problem. Here are some tips for practicing good seller's etiquette:

The Aggressive Agent
When your agent puts your house on the market, typically all promotional materials state clearly that your agent is the primary contact for buyers and buyers' agents. However, sometimes a buyer's agent will contact a seller directly to try to either win over their business or cut the seller's agent out of the deal. This is not reputable behavior and you should report it to your agent immediately if it happens to you.

The Unscrupulous Vendor
Have you ever started a business or moved into a new house and suddenly found your mailbox full of junk mail? Unfortunately, this also can happen when you put your house on the market. When you sell your home, it necessitates all kinds of new purchasing decisions and less-than-ethical vendors are keenly aware of this. Though MLS organizations enforce rules on how posted information is used, some companies have found ways to cull information from various sources to produce mass mailing lists. If you find yourself regularly emptying your mailbox of junk, let your agent know. He or she can tap the appropriate sources to prompt an investigation into the matter.

The Naive Buyer
Yard signs, Internet listings and other advertisements can generate a lot of buzz for your home. Some prospective buyers - particularly first-timers - will be so buzzed to see your home that they'll simply drop by. If this happens, no matter how nice these unexpected visitors are, it's best not to humor their enthusiasm by discussing your home or giving an impromptu tour. Instead, politely let them know that your real estate agent is in charge of scheduling tours and provide them with the agent's contact information. If you attempt to handle these surprise visits on your own, you might inadvertently disclose information that could hurt you during negotiations down the road.

The Mary Ellen Vanaken Team of Keller Williams Realty is ready to assist you today in selling your home. When you're looking for a partner to help you negotiate the complexities of selling a home, you've come to the right place. The Mary Ellen Vanaken Team of Keller Williams Realty  (678-665-2887) are experts in the North Atlanta Georgia areas, including Milton, Alpharetta, Johns Creek, Roswell, Dunwoody, Cumming, Suwanee, and Duluth. The experience, dedication and strong communication you'll receive here will help ensure the successful and profitable sale of your home. We provide:


1. The Local Advantage - Take advantage of a broad spectrum of technologies and tools to support the sale of your home from start to close.
2. Internet Advertising - Since the lion's share of home buyers starts their search on the internet, top placement on search engines is essential. You'll gain access to placement on Google, MSNBC, and other websites. This will maximize your exposure and bring a large number of potential buyers to view information about your home.
3. Email Campaigns - It's important to "work the network." We can work together to identify the right people to target your home-and get in touch with them by email to drive excitement and interest.
4. Personal Touch - Of course, technology alone won't sell your home. Face-to-face interaction provides the advantage to sell your home-and you won't have to worry about a thing. The details will be handled with care and constant communication, to ensure the marketing and sale of your home go smoothly.

Home Listing Syndication

Your home can be advertised on websites all across the web, making sure buyers see your home and everything it offers. Here are some of the national sites where your home will appear:












Practicing Good Seller's Etiquette