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Thread: The New "Home Improvement" Thread

  1. #101
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    The New "Home Improvement" Thread

    Let me know if anyone here has personal
    experience/opinions/preferences(companies)/pointers with regards to choosing a realtor to sell our current home.

    We have a handful lined up to go through the ďinterviewingĒ process. Iím doing my own research currently online based on reviews, etc. Also, going to talk with a few friend referred agents.


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  2. #102
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    Quote Originally Posted by Parsley View Post
    Let me know if anyone here has personal
    experience/opinions/preferences(companies)/pointers with regards to choosing a realtor to sell our current home.

    We have a handful lined up to go through the ďinterviewingĒ process. Iím doing my own research currently online based on reviews, etc. Also, going to talk with a few friend referred agents.


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    I like to work with those at the top of the charts. That means consulting your local Realtor Board and asking who last yearís winners were in several categories: Top home sales office/ top sales agents (you want 2-3 to interview) so you will work with people who SELL homes.

    The most successful agents specialize; Some are great listers, others are best at showing and selling homes. In a way you need both but you only get to hire one.

    Ask to see the marketing plan devised by the Realtor. Ask about the dollar commitment that will make the plan you review, happen. Then embed that dollar commitment into your listing. This wonít be easy but you want some measure of accountability. If you feel more should be spent, write a check. Yup, pay for more to ensure you get the best possible marketing. Social media targeted ads donít cost much so consider contributing $500 to your own cause.

    *Iím a 20-year real estate auctioneer and Broker who teaches classes for Realtor Boards when I want to. Our selling team sells between 800-2,000 properties annually. Iím not soliciting you for your listing but wanted to add some context to my comments. Good luck.

  3. #103
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    Are houses really that hard to sell? In my area it's pretty easy, it seems like.

  4. #104
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    I literally hired a recovering meth addict the last time around lol, as she was the least pretentious agent in town.

    Sold for asking price in 4 hours.

    *not a comment on you Frank, I quite enjoy real estate.

  5. #105
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    No worries, Dunny. I've become conditioned to 'let the market speak' - so bidding is natural for me. The finest things in the world sell at auction - top art, stocks and a host of commodities (NASDAQ), so why not real estate? (rhetorical) Beyond bidding, it's the psychology of real estate that I've grown to truly appreciate. Seller's are generally 'in love' with their homes and determining a selling price can be a real hassle. Some Realtors are very good at doing CMA's or 'Broker Opinion of Value' and can generally tell what the asset should sell for...within reason. What is not accounted for is the emotion of buying. Identical homes in a typical subdivision have different values. Morning sun? Very important to some buyers. Evening sunset in the dining room? Similar convo.

    On the buying side? That's a whole lot of fun!! When I show homes, it is done once, to all of the buyers at a specific start time. Not the typical 1-4 but rather at 1:11PM. What is that about? Auctioneers want buyers to see the competition. In traditional real estate, the buyer feels like he/she has the leverage. They are typically the only buyer in the home and can tire-kick the property all they want. Why? It justifies their less-than-asking price offer. Silly.

    When you put 3, 4, 5 or 25 buyers or more (for a very nice home) in the same property at the same time, guess what happens? Tire-kicking stops. Nobody wants to be the outcast and be seen as a negative Nelly. All of a sudden I hear things like, "Wow! I forgot how cool shag carpet can be." I'm not kidding. Buyers who would have normally looked to poke holes in the seller's price keep their mouths closed. The real buyers - and that usually comes down to just 2 to 3 people - see that if they really, really like the home, that they are going to have to pay a decent price for it.

    For me, it's fun but then again, I do this every day. I'm comfortable working in an environment where others are uncomfortable. Too many real estate agents are uncomfortable themselves (IMO) with seeing their seller or buyer become uncomfortable and then ruin that great situation by trying to eliminate that feeling. Deals are brokered when uncomfortable emotions provide grease for the gears of the transaction. When the seller begins to think that their selling opportunity might get lost when they try to hold fast to a selling price BUT they really want to move soon...or when buyers begin to feel that another buyer might snatch this home away from them with a slightly better offer...it's those scenarios where the real action is.

    So, as Pete asked, is it really that difficult to sell a home? Nope, not in my mind and especially when you are working with a agent who understands the mental dynamics and can work everyone through it without you even realizing that it is happening.
    Last edited by 4EverRangerFrank; 01-12-2019 at 11:19 AM.

  6. #106
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    Quote Originally Posted by 4EverRangerFrank View Post
    No worries, Dunny. I've become conditioned to 'let the market speak' - so bidding is natural for me. The finest things in the world sell at auction - top art, stocks and a host of commodities (NASDAQ), so why not real estate? (rhetorical) Beyond bidding, it's the psychology of real estate that I've grown to truly appreciate. Seller's are generally 'in love' with their homes and determining a selling price can be a real hassle. Some Realtors are very good at doing CMA's or 'Broker Opinion of Value' and can generally tell what the asset should sell for...within reason. What is not accounted for is the emotion of buying. Identical homes in a typical subdivision have different values. Morning sun? Very important to some buyers. Evening sunset in the dining room? Similar convo.

    On the buying side? That's a whole lot of fun!! When I show homes, it is done once, to all of the buyers at a specific start time. Not the typical 1-4 but rather at 1:11PM. What is that about? Auctioneers want buyers to see the competition. In traditional real estate, the buyer feels like he/she has the leverage. They are typically the only buyer in the home and can tire-kick the property all they want. Why? It justifies their less-than-asking price offer. Silly.

    When you put 3, 4, 5 or 25 buyers or more (for a very nice home) in the same property at the same time, guess what happens? Tire-kicking stops. Nobody wants to be the outcast and be seen as a negative Nelly. All of a sudden I hear things like, "Wow! I forgot how cool shag carpet can be." I'm not kidding. Buyers who would have normally looked to poke holes in the seller's price keep their mouths closed. The real buyers - and that usually comes down to just 2 to 3 people - see that if they really, really like the home, that they are going to have to pay a decent price for it.

    For me, it's fun but then again, I do this every day. I'm comfortable working in an environment where others are uncomfortable. Too many real estate agents are uncomfortable themselves (IMO) with seeing their seller or buyer become uncomfortable and then ruin that great situation by trying to eliminate that feeling. Deals are brokered when uncomfortable emotions provide grease for the gears of the transaction. When the seller begins to think that their selling opportunity might get lost when they try to hold fast to a selling price BUT they really want to move soon...or when buyers begin to feel that another buyer might snatch this home away from them with a slightly better offer...it's those scenarios where the real action is.

    So, as Pete asked, is it really that difficult to sell a home? Nope, not in my mind and especially when you are working with a agent who understands the mental dynamics and can work everyone through it without you even realizing that it is happening.
    I think that's a great strategy for a seller, but as a buyer I'd never buy something that was only shown at an open house or group setting where I couldn't take my time and "kick the tires".

  7. #107
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    Quote Originally Posted by 4EverRangerFrank View Post
    I like to work with those at the top of the charts. That means consulting your local Realtor Board and asking who last yearís winners were in several categories: Top home sales office/ top sales agents (you want 2-3 to interview) so you will work with people who SELL homes.

    The most successful agents specialize; Some are great listers, others are best at showing and selling homes. In a way you need both but you only get to hire one.

    Ask to see the marketing plan devised by the Realtor. Ask about the dollar commitment that will make the plan you review, happen. Then embed that dollar commitment into your listing. This wonít be easy but you want some measure of accountability. If you feel more should be spent, write a check. Yup, pay for more to ensure you get the best possible marketing. Social media targeted ads donít cost much so consider contributing $500 to your own cause.

    *Iím a 20-year real estate auctioneer and Broker who teaches classes for Realtor Boards when I want to. Our selling team sells between 800-2,000 properties annually. Iím not soliciting you for your listing but wanted to add some context to my comments. Good luck.
    Thanks Frank! Great advice.


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  8. #108
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    Quote Originally Posted by Pete View Post
    Are houses really that hard to sell? In my area it's pretty easy, it seems like.
    Average home sells in a few months around here, on average. On my block in 2018 one sold in a week, the longest was on the market about 4 months.
    Last edited by Parsley; 01-12-2019 at 07:56 PM.

  9. #109
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    I'll be speaking with our project manager for our new home build next week. Our delivery date will be set (of course that can change a bit). That should allow us to go forward with setting up our target date to list our current home. It has been decluttered (lots of stuff in storage), basically fully cosmetically freshened up, painting, etc. It's ready to roll IMO.

  10. #110
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    We are debating about selling our house for something bigger but we absolutely love our street, so quiet. I donít want to bother with any extension since we have put a good amount of money and time into this house. Financially it would make more sense to sell and get something else.
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  11. #111
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    The New "Home Improvement" Thread

    Quote Originally Posted by Vodka Drunkenski View Post
    We are debating about selling our house for something bigger but we absolutely love our street, so quiet. I donít want to bother with any extension since we have put a good amount of money and time into this house. Financially it would make more sense to sell and get something else.
    Yup. Doing an extension didnít make sense for us because it costs a boatload (plus the headaches with contractors), takes too much time and honestly the house would stand out too much in our cookie cutter neighborhood (built in the 1950s). I donít want to be the home on the block priced 100K+ over every other neighbor.

    The demographic has also changed in the neighborhood and as we have aged weíve outgrown the now ďfirst time homeĒ community.

    Our upgrade in space will be massive. From roughly 1500 sqft (3 bd, 1 1/2 bath-split level) to 3700 sqft. (4 bd, 2 1/2 bath, full finished basement).

    Itís also about 30% less yard which is good because the older I get the less hours I want to spend on a weekend doing yardwork. It was fun at 25. Not so much at 40. The nice thing about the lot of we picked is there will be ďopen spaceĒ behind us so while our yard ends there will be several acres of open fields/grass/trees behind us basically extending our property.




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    Last edited by Parsley; 01-13-2019 at 01:35 PM.

  12. #112
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    Quote Originally Posted by Parsley View Post
    Yup. Doing an extension didnít make sense for us because it costs a boatload (plus the headaches with contractors), takes too much time and honestly the house would stand out too much in our cookie cutter neighborhood (built in the 1950s). I donít want to be the home on the block priced 100K+ over every other neighbor.

    The demographic has also changed in the neighborhood and as we have aged weíve outgrown the now ďfirst time homeĒ community.

    Our upgrade in space will be massive. From roughly 1500 sqft (3 bd, 1 1/2 bath-split level) to 3700 sqft. (4 bd, 2 1/2 bath, full finished basement).

    Itís also about 30% less yard which is good because the older I get the less hours I want to spend on a weekend doing yardwork. It was fun at 25. Not so much at 40. The nice thing about the lot of we picked is there will be ďopen spaceĒ behind us so while our yard ends there will be several acres of open fields/grass/trees behind us basically extending our property.




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    Where do you work?

  13. #113
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    Quote Originally Posted by Pete View Post
    Where do you work?
    Was working for a local bank until the 2nd kid came along. Then with daycare costs and my relatively low salary weighed in we decided itíd be best for me to take time off from work to
    be home raising the kids. My wife has always been then breadwinner earning at first 3x (would now be closer to 5x) what I was a major pharma. company.

    Iíll be heading back into the workforce most likely by this time next year with both kids in full time school. Probably will do part time (as to cater around the kids schedule) to start, plus finding work will be easier that way.

    Luckily, our super low current mortgage/rate on this small house made things easy financially and has allowed us to save well. Plus we are 13 years into this house so we have a good amount of equity built up.

    As I stated earlier, we are moving about 10 miles further out in the burbs to get what we want in our price range. Where we are now that 3500 sqft home (new, especially) would cost us an additional 150K to stay in the same town. No way!


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  14. #114
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    Quote Originally Posted by Parsley View Post
    Was working for a local bank until the 2nd kid came along. Then with daycare costs and my relatively low salary weighed in we decided itíd be best for me to take time off from work to
    be home raising the kids. My wife has always been then breadwinner earning at first 3x (would now be closer to 5x) what I was a major pharma. company.

    Iíll be heading back into the workforce most likely by this time next year with both kids in full time school. Probably will do part time (as to cater around the kids schedule) to start, plus finding work will be easier that way.

    Luckily, our super low current mortgage/rate on this small house made things easy financially and has allowed us to save well. Plus we are 13 years into this house so we have a good amount of equity built up.

    As I stated earlier, we are moving about 10 miles further out in the burbs to get what we want in our price range. Where we are now that 3500 sqft home (new, especially) would cost us an additional 150K to stay in the same town. No way!


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    Gotcha. I can't imagine living that far into burns and commuting to NY city.

  15. #115
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    The New "Home Improvement" Thread

    My best friend lives near you in Springfield. His commute into Manhattan sounds brutal.

    My wife will have a few extra miles on her drive but roughly 30 minutes total each way. Luckily she doesnít have to drive into Philly. It would be 60-90 minutes. Most big pharma companies have set up shop here in the burbs. I was working in the same area so future commutes should be manageable.


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  16. #116
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    Quote Originally Posted by Parsley View Post
    My best friend lives near you in Springfield. His commute into Manhattan sounds brutal.

    My wife will have a few extra miles on her drive but roughly 30 minutes total each way. Luckily she doesnít have to drive into Philly. It would be 60-90 minutes. Most big pharma companies have set up shop here in the burbs. I was working in the same area so future commutes should be manageable.


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    Sweet.

    My commute isn't bad at all. It's just New Jersey Transit that fucks it up.

  17. #117
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    The New "Home Improvement" Thread

    Quote Originally Posted by Pete View Post
    Sweet.

    My commute isn't bad at all. It's just New Jersey Transit that fucks it up.
    Nice. I mean, taking the train from Millburn would be easy. But he says too expensive so he does bus, walk, subway, walk and it sounds awful.


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  18. #118
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    Quote Originally Posted by Parsley View Post
    Nice. I mean, taking the train from Millburn would be easy. But he says too expensive so he does bus, walk, subway, walk and it sounds awful.


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    Weird. My ticket is $240. His would be same. I don't think that's pricey at all.

  19. #119
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    The New "Home Improvement" Thread

    Quote Originally Posted by Pete View Post
    Weird. My ticket is $240. His would be same. I don't think that's pricey at all.
    Maybe heís nuts. His stories of people on the bus are vile. I think the train from there to NYC (or the Meadowlands) is great.


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