The listing contract with the Realtor is about to expire. Do you re-list right away?

Some people think its wise to wait, some people have it re-listed the very next day. I'll ask you that  question,  think about your answer, and then I'll tell you an experience that I had with a seller. Your answer may change.  

One day in October, I ran across a listing that had just expired. The house looked pretty neat, and I wondered why it didn't sell, so I called up the owner.  I asked her about her home, and she invited me over to look, but was adamant about not listing it right away. The property was on the market for a good seven and a half months, and with a VERY Good agent,  AND the holidays were coming up. So who is going to buy her house now? And yes, she  may have had a point or two.

As I looked at the listing, I saw that some of the very best marketable features of her home were nowhere to be found! I saw that the listing wasn't filled out as well as it could be, and I am pretty particular about everything being as descriptive and informative as it can be, and as truthful as it can be on the listing so the most interested and best qualified buyers come to see it.

This home had  a stone turret and an incredible amount of charm with rolling acreage and lots of privacy, yet in a very easy location. None of that was brought out on the listing.  A house with a two and a half story stone turret, and the picture of the property didn't focus on it? You couldn't miss it once you drove up. And that's one of those things that you either REALLY like, or REALLY hate. There's not an in-between.  So I told the owner what I thought. She was this great Irish lady with a thick accent. I told her  that if she wanted to sell the home,  that we shouldn't wait, and that we should get it on the market as soon as possible. And I said, "No one is going to buy  your home if they don't know that it's available". She heeded my advice, I brought out the finer unique points of her home, and it sold close to asking in less than three weeks, and that was right before the holidays. Oh and by the way, I didn't reduce the price. It didn't need it!

Her house may have sat on the market for another seven months had she not listened to my advice. Instead, the house sold and she got to move into a nice condominium.

So if your homes listing contract is about to expire, and you haven't had any bites, or very few showings, take a look at the listing. Better yet, have me take a look at the listing- and don't give the house a rest on marketing. No one will buy your home if it's it's not actively and appropriately marketed by a great agent. That's me!

For Sellers: Finding the right agent with a positive attitude

I remember meeting a potential client some time ago, who wanted to sell his home. He knew his home was unique in a few different ways, and was concerned that the right buyer wasn't there for such a unique property, especially the way that the market was. He  really just wasn't sure how marketable his properrty was.  
What i can tell you is that  from my perspective, I walked into a beautiful and tastefully decorated home. It was obviously  architecturally designed, with every attention to even the most minor detail, and nothing was overlooked in the design, or the quality of construction. So why was the seller concerned about the prospect of selling his home? Besides the fact that there was a lot of love and time put into the house, I am sure it's full of memories as well. But that's not always all of it. This particular home had something very unique to offer, and its appeal would not be as broad as a home fitting the standard Fairfield County Connecticut mold- that is,  the expansive 4-5 bedroom, 3 bath colonial style home on a level lot.

  While some agents might consider a home that doesn't fit the mold as a "white elephant"-  no matter how beautiful and well done everything was, they couldn't or wouldn't be bothered with  selling it-  afraid to invest their own money on what they thought may not be a sure thing as far as a sale- and  I think that's a shame.

I, on the other hand, looked  at the house as a GREAT opportunity for someone who is looking for that particular uniqueness that this home had to offer. What another agent may consider as a white elephant, I consider as a BONUS. and, incidentally,  I really dislike the term, "white elephant" Just so you know, The seller was a highly intelligent, successful businessman, and was not a negative person by any stretch of the imagination- some people would even call him a realist.
Bottom line is what some people will find utterly amazing, others could care less about. That goes for EVERY home, regardless, by the way. Any good, experienced real estate agent will tell you that the trick to  finding the right buyer is marketing the property for what it is, not overdramatizing it, not underselling it, or forgetting or omitting details. Most of all, it's about  tailoring a marketing plan to find that particular buyer who would be most likely to buy your house.

If your agent isn't excited about marketing your home, he/she wont bring an excited buyer, and you won't get your home sold.
So if you meet an agent, who is not genuinely (AND I MEAN GENUINELY) interested  and excited about your home, DON'T WORK WITH THEM. It's as simple as that. No need to get discouraged, your buyer is out there, and the right agent can always find them.  And I just happen to know someone..... :)

You can just ask the seller that I spoke about earlier. Of course, I sold his house. He wrote a testimonial for me,  and you can read that, and a few others on my website by clicking here

Your real estate transaction in CT and... the bank appraisal

When a buyer applies for a mortgage, the lender requires a bank appraisal.  This is an independent third party licensed appraiser who values your home as a "disinterested party", so to speak. Really , what the bank is doing is protecting their own investment for when they grant   the loan.

The underwriters want to make sure they are giving a loan based upon current market value, and not lending too much money on a property that is not worth it.  The bank appraisal is ona standard form, costs anywhere from$300- $500 and  is paid for by the buyer,  for the benefit  of the bank to ensure that the  property value is in line with what the purchase price for the property and the loan to value ratio.
So  even if a buyer was going ready and willing to overpay for a property, and wanted to obtain a loan from the bank to do so, the appraisal and the loan to value ratio would be deciding  factors in whether the buyer would obtain the loan. So the appraisal is a good thing. It's an unbiased check and opinion of value.

TIP: Buyers, remember,you must ASK the bank for a copy of the appraisal that YOU paid for, or you will most likely never see it. Expect a nominal charge of $5 to $10 for your copy.

Choosing the Best Real Estate Agency to represent you in CT

When it comes time to hire a real estate agent to sell your home, there are a multitude of agencies to choose from, so how do you choose? Company A tells you that they are #1 in sales,  company B tells you that THEY are #1 in sales, and company C tells you that THEY are #1 in sales. How are you supposed to figure that one out? 

Well we figured it out a few years ago when a bunch of other Office owners/ Brokers and I were sitting down for coffee, and that exact subject came up. The owner of one company said, "I (my company) must be number two, 'cos everybody else is number one." Everyone sitting at the table laughed pretty hard over that one, but guess what? He was right.  Forget about those number one claims that brokers make. Everyone can be number one in a specially defined niche, and maybe just maybe, you don't WANT that numebr one company. There are reasons for it.Honestly and truly,  do you want to know who number one REALLY is? It's YOU, the client.

So what are the main type of agencies to choose form, and which one is best for you?

National Franchise - While a large well known franchise has great name recognition, buyers really don't care which sign is out in front of your house. If they want to buy it, they will. the internet has taken that argument out of the large franchise arsenal. A concern with a large franchise is the very real possibility of dual agency.

Franchise Boutique- I think this type of company is best for sellers, and this is the type of company that I am affiliated with. A nationally franchise company that is locally owned and operated offers the best of all worlds. Local expertise, national exposure, and less possibility of dual agency.

Local Company- There are a few types of local companies- either the low key or the little powerhouse. Not a bad choice if the property has only a limited VERY local market.

Discount Agency- I'm not a fan, period.  You, as a seller, do the vast majority of the work that can get quite complicated for someone who does not deal with real estate on a daily basis. It makes no sense at all. I hate to say it, but do you know what some agents think when they see a listing with a discount brokerage? They figure that they are getting paid less for the same amount of work, and they figure you won't negotiate at all, whether it's true or not.


So what's best for you? If one doesn't stand out clearly over another, conduct a few interviews.  Or, you can just call me and we'll get started!



Is there any preparation to complete prior to a building inspection?

After the negotiations are completed on the purchase of your home, the buyers will conduct a thorough building inspection of the premises at their expense. A number of homeowners tend to get a bit nervous about this, and think that they should "prep" their home for the inspector. There's no need to get nervous, and no need to prep your home for an inspection.
A couple of things that you should do are-

*Make sure that the inspector can get to your electrical panel, your boiler (or furnace) and hot water heater, and that access to these crucial components to your home is not blocked.
*Close all the windows 48 hours to the inspection if the buyers are planning on doing a radon test.
*If you have any manuals on any appliances, heating and cooling system, or home accessories that are to be included in the sale, leave those out.
*If you have had a contractor perform any work, now is a good time to put those permits and receipts in a file, (not necessarily in open view) for future reference, and to have it ready for the closing.
*Last but not least, you are not expected to be there, and it's probably a good idea to scoot if you were going to be home. Inspections last anywhere from about 2-4 hours depending on the size of the home.

When I represent buyers in a purchase, I attend the building inspection and stay for the duration. Not all agents do, so make sure you tell your agent to let the buyers agent know they are expected to remain for the entire inspection, and lock up the house afterwards.
When I represent sellers, I make  the buyers agent aware that they are expected to do just that, and that I may stop by just to say hello. Do not insist that your listing agent be present during the inspection. It only seems like eavesdropping on your part,  and does not afford the buyers agent and buyer the privacy to discuss whatever might come up.  I will, however, drop by about an hour or so after the inspection has  started to offer a friendly hello to the buyer and agent , and get an idea of how things are going. Most often, if there are big issues, you will know right away.

Just relax and let your agent handle the rest.... Your agent? That's me!