The first requirement in finding a buyer for a home is to make sure the pool of potential buyers know it is on the market. For FSBO sellers, holding an open house can help to get the word out to buyers. Open Houses Open houses are very effective at helping sell real estate in many parts of the country. Real estate agents use open houses constantly to generate interest in homes [and get new clients]. Should FSBO sellers (people who are selling their own homes) also use open houses to generate buyer interest? Yes, with one caveat. Location, Location, Location The cliché "location, location, location" applies to more than one aspect of real estate. Not only does it address issue issues, it also applies to open houses. First of all, the FSBO property needs to be located in an area where open houses work. This area offers to be in city, town and suburbs where the housing market is hot. Holding an open house usually works well where the following circumstances exist: 1. There is a good population base, 2. The home for sale can easily be seen by a lot of people, 3. There are more buyers than sellers, and 4. Properties sell rather fast in the area. Rural areas and areas in which sales are slow do not generally work very well. Perhaps worse, the FSBO seller...Read More
Then and Now Ten years ago, a search for real estate would have started in the office of a local real estate agent or by just driving around town. At the agent’s office, you would spend an afternoon flipping through pages of active property listings from the local Multiple Listing Service (MLS). After choosing properties of interest, you would spend many weeks touring each property until you found the right one. Finding market data to enable you to assess the asking price would take more time and a lot more driving, and you still might not be able to find all of the information you needed to get really comfortable with a fair market value. Today, most property searches start on the Internet. A quick keyword search on Google by location will likely get you thousands of results. If you spot a property of interest on a real estate web site, you can typically view photos online and maybe even take a virtual tour. You can then check other Web sites, such as the local county assessor, to get an idea of the property’s value, see what the current owner paid for the property, check the real estate taxes, get census data, school information, and even check out what shops are within walking distance-all without leaving your house! While the resources on the Internet are convenient and helpful, using...Read More
Business groups and sales/presentation teams are increasingly opting to stay in vacation homes instead of hotels/motels. Standard hotels/motels can only offer so much in terms of personalized amenities, things that make smaller teams and groups feel at home. For groups and teams who plan to spend more than a night or two in one location, staying in a vacation home makes a lot of sense. Keeping costs down Costs can climb pretty quickly when entire teams or business groups stay in a hotel or motel. Vacation homes can help keep those away costs under control. Accommodations for hotels/motels can be high when you add up all those separate room rates for every member of your team. Meal expenses can also add up fast when everyone in your group or team eats three meals in a hotel/motel or in an offsite restaurant. As Neil Perry, president of Poptent, a global video production company noted in a recent About Travel article, “When a group of friends or coworkers are traveling to the same event, a vacation rental can be a much better option than booking multiple hotel rooms, as companies can keep accommodation costs down,” said Perry, adding “Also, teams can easily gather in living spaces to have an impromptu team building session and/or meetings.” All the Comforts of Home Most Vacation Homes now offer both luxury and practicality, with rooms,...Read More
Last week, on July 11, 2011, California governor Jerry Brown signed into law a new law to combat deficit jurisdictions by holders of non-purchase money junior mortgages (second or third mortgages) when the lender has accepted funds during a short sale transaction. This law protects homeowners of real property of one to four units who refinanced a loan after the original purchase loans. This was Senate Bill 458, and amends the language to the California Code of Civil Procedure §580e. Previously, a junior mortgage holder of a refinanced loan had the right to collect on any balance unpaid after the sale of the transaction. In many cases, they specifically stated in their short sale approval documents that they retained the right to seek collection of any deficiency. In January of 2011, a similar law went into effect that eliminated the right of a first lender of a refinanced loan to seek a deficiency jurisdiction after a short sale. However, it did not affect secondary loans after the short sale transaction. As with all laws aimed at stemming the tide of foreclosures and troubled property sales, there is bound to be some confusion in the interpretation of these laws. The new law only affects real estate of one to four units, and will have no impact on short sale transactions with bare land or commercial property, such as apartments, office...Read More
If you’re looking to expand your sales to new markets, then there’s one big question you must ask: do I build a direct sales presence or use a distributor? Each method has its benefits and drawbacks, but we’re going to make a strong case to use one method over the other in almost every instance. What’s the difference between direct sales and distributors? A direct sales presence means that your company establishes, manages, and pays a sales team of one or more people in the target market. An outside agent is any entity that will sell your product in exchange for a service fee. One example is a sales rep, who sells your product in exchange for a percent of the sale. A distributor is similar to a rep, except they would buy product from your company and sell it directly to the end customer. Is Direct Sales Better? For most businesses expanding into new markets, especially international markets, hiring a distributor is a better decision-at least until there is enough return from the market to justify building a direct sales presence. Sure, there is one major advantage to having a direct sales presence-control. Control over the day to day activities of your sales personnel is appealing to most business owners. But this control comes at a heavy price. To start, you’ll need to spend the time to hire...Read More
- Open Houses for FSBO Sellers
- Real Estate Agents and the Internet – How to Buy and Sell Real Estate Today
- Group Business Travelers Leaning More Toward Vacation Homes Vs Hotels
- Could California's New Anti-Deficiency Statute Hurt Short Sales?
- Direct Sales Team Vs Distributor – Which is Better For an International Market?
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