Would You Rather Have an Agent Lie to You or Tell You the Truth?

The truth, right?

I hope your first reaction to this question is  for your agent to tell you the truth.  Do not let your emotions about getting the highest price for your property get in the way of listening to reason, especially when there is evidence to support it.

Telling the truth to homeowners who are interviewing a few agents to list their home for sale sometimes costs me business- because it's not exactly what these homeowners want to hear.

There are, however,  plenty of agents who would rather lie to you,  give you false hope on a suggested list price that is over and above what the market will bear. It's an awful sales tactic- so be on the  lookout.

And why do real estate agents  lie to you about how much your home is worth?

Certainly one reason is lack of market knowledge, or the inability to price homes correctly, and that may not even be an overt lie on their part.

The second reason is that this is a sales tactic that is purely intentional. The agent gives you a price above what they know is appropriate, so that you think that they really love your home and can sell it at that high price.

These agents intentionally give you an inflated price  just to get you to  sign the listing contract- and once you are signed up, they will get you to reduce the price- sometimes even within the first week to ten days. This type of agent induced  "analysis paralysis" causes the homeowner to  dismiss an appropriate price and choose the highest price an agent gives them, even though the analysis says differently.

You should never start any type of relationship on a lie, let alone a business transaction. What will happen  next? What will the next lie be about? This is just a nasty,  shamelessly unprofessional and selfish business tactic, and unlawful in my opinion as well.  

Insist on a detailed Market Analysis- that's called a True Market Analysis.

A  market analysis is just that. Take the time to review it. Are the comparables on the other side of town or are they close by? Are the comparables of similar square footage? How many comparable properties are included in your analysis? Is the price obvious to you by looking at what's in front of you? It should be.

Without any exceptions, the analysis should be detailed enough that it should suggest a price to you, and sometimes you may not like that price. It is important to control your emotions enough to look at what's in front of you, and  as much as you may not like it, understand that analyses don't lie. Agents do.

Trust your gut when you meet an agent. Ask for testimonials. Hopefully, you should be able to spot  the less than truthful agent and remember that when you  get to the pricing part of the presentation.

Consistently telling my clients the truth allows me to sleep peacefully  at night, and I wouldn't have it any other way. If you need a price opinion on your home, and are ready to sell, call me, or email me. I'd love to hear from you- and that's the truth, too :)

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Don't Fall into the Trap of Listing Your Home For the Highest Price

It's time! You have decided to put your home on the market, and of course you want to get the highest price possible. Agents want to get you the highest price possible, too.

BUT....

You must look at the comparables, and past sales history for your town and your style of home, along with a square footage analysis.  A detailed analysis will most certainly point to the correct number for the market, but  you may not like what the numbers point to,  and there are many agents who will tell you what you want to hear, rather than tell you the truth.

They do that to ensure that they will get the listing, and control the sale. The only problem is that if you list with the "highest bidder", your home will not sell, because it will be overpriced for the market.  This is a trap that way too many home sellers fall into.  That is, listening to the agent and hiring the agent who cannot back up their claim to be able to get you the highest price for your home.

The appraiser that comes out on behalf of the buyer's chosen bank will only look at comparable sales within the last six months. If you or your agent are comparing your home with a sale that happened outside of that six month window, remember, the appraisers will not even consider that. So on the off chance that you do get a buyer for your home at a price that is higher than the market would generally bear,  a low appraisal would negate that sale. You have heard of appraisals that come in low?  Either the transaction falls apart, or you will have to reduce your price. It becomes a big mess.

When you interview  an agent to price your home, remember  these facts. the highest price that am agent tells you  is not always the correct figure,  or most honest one.

If you would like an honest market evaluation, contact me. You  can most certainly make future plans with confidence with me.

And a note From Judy: If you have a question about buying or selling a home in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Have You Chosen Your Realtor, But Not Signed the Agreement Yet?

Get a jump on the market- it's called pre-marketing. If you have decided to sell your home, and met with a Realtor that you intend to have represent you, don't wait to tell them until after you have completed minor touch ups or repairs, or come back from vacation.

There is a lot of leg work that goes into getting the marketing materials ready for your home. For instance, photo-staging and photography, write ups and brochures take time to do them right.

Sure, it's quick to put an MLS listing sheet at your home that can easily be printed once your home is on the market, but what about the details,and the positioning of your home before it hits the market? At the very minimum. having a brochure at your home on DAY ONE when it hits the market is very important.

Pre-marketing  boils down to meeting with your agent and signing the representation agreement  that states the home will go on the MLS as of a certain date, therefore allowing your agent some time to jump start the marketing process.

When buyers come to look at your home, they usually are making a day out of searching for their next house. That means that your home is not the only one they are looking at. By the end of the day, many buyers forget which house had what feature, and that's not even mentioning all the information that your brochure has that the MLS listing has no room to include. One of these additional features that may not have been obvious from the listing may just be the reason why a buyer chooses to come back to your home for a second look, or makes an offer.

You have one great opportunity to do it right, and initial pre-marketing, whether it's for one week or two weeks helps the agent to help you tremendously. Pre-marketing can build up demand for when your home actually hits the market, and you can make the most of your new listing status.

If you have chosen a Realtor but are not absolutely gung-ho excited about your choice, then we haven't met. You owe it to yourself  to just give me a call, and see how my marketing strategies and campaigns can benefit you.

If you would like to set up an appointment, click here.

 A note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

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Is a Hubbard Clause Right For Your Connecticut Home Purchase or Sale?

Current homeowners who wish to buy another home, but need to sell their home first in order to use the equity as a downpayment can wonder if they should sell the home they own first, or find the home that they wish to buy first, and then start the process of selling their home. In the case of the latter, the homeowner who wishes to purchase a new home should consider placing an offer with a "Hubbard Clause" rider.

A "Hubbard Clause" is a contingency in (or addendum/rider to ) a purchase agreement that expressly conditions the buyer's offer upon their ability to sell and close on another home or property. It is almost like a first right of refusal to purchase the property- ALMOST, but not quite. Think of it like "reserving a right to buy a particular property" while trying to sell the one you own.

While most  buyers and sellers think this just another perk for the buyer, think again. By the way, I can include a number of agents who would tell you that this is a benefit for the buyer, as well. This type of agreement actually benefits the seller much more, especially  in a buyers market.

The "Hubbard" portion of the agreement must have the following two items included in the verbiage:

1. Final Hubbard contingency sale date- That is, the deadline for the buyer to secure a purchaser for their home, so they can move forward with the sale on the home that they wish to purchase.

2. A deadline for the buyer to remove the "Hubbard" contingency if another offer comes in during this period.

There is no national standardized  form for this, nor are there generally accepted statewide forms for "Hubbard Clauses"- rather the forms which are used tend to be much more regional or generated through independent franchises.  There are a good number of agents who just do not like to work with Hubbard Clauses at all, which I do not understand, but it is what it is. I think that if an offer comes in a home where I represent the seller, that we should absolutely listen to it. It's kind of like a back-up offer without having the main one. As long as all the conditions and terms of the sale are acceptable and  we can still market the house, it would be foolish not to entertain such an offer. When I represent the buyer, and if that's the only way they feel comfortable moving forward, I believe it's my fiduciary responsibility to help them get the house that they want.

Buyers:

If your home is not already on the market, be prepared to list it THE SAME DAY that you place your offer in on the property that you wish to buy. You do not have to list it if the homeowner does not wish to entertain your offer, but  if they are willing to negotiate with you, it is of extreme importance to be ready...ready.... ready.

I have to go on record, here- this is not the most cost effective way to purchase a home. Sorry, but it's true. If this is what makes you most comfortable, I am all for that, and will do as you wish. Often times, you will end up paying a premium for the right to purchase a home in this manner,  and you may end up selling your home for less money to satisfy the Hubbard Contingency within the time. allotted.

Sellers:

I do not really see a downside to sellers as long as an acceptable Hubbard addendum allows you to continue to market the home as ACTIVE, and not change its status to anything else. (See FAQ's below)   Provisions must be made  for the instance of  another offer coming  in during the period that the Hubbard is in effect. Usually, giving a buyer 2 or 3 business days to remove the Hubbard Clause is sufficient, so if they are comfortable removing the clause, you will sell it without the contingency, or if they cannot remove the Hubbard, that you are free to sell it to another party. There are no guidelines as to price or terms for accepting another offer unless they are written into the addendum itself. You must just concern yourself with the time frame.

Hubbard Clause General FAQ's

• Hubbards may include unique terms or conditions.

• Understand that homes are shown with a signed Hubbard Clause agreement in place.

• And then, some agents will NOT show homes that have a signed Hubbard Clause

• Some buyers choose to include a Hubbard Clause because they would actually qualify for your home purchase without selling their home, and just do not want to carry two mortgages.  

• Hubbard clauses can be extended by agreement from both parties.

• Regionally, we work with binders first and then formal contracts are prepared within two weeks- Sellers may decide NOT to have their attorneys draw contracts until the Hubbard Clause is removed.  

• The buyer can withdraw their offer entirely with no penalty, unless expressly written in the contract.

• This agreement seems to be more binding  performance wise to the seller than it is to the buyer.

• And in case you were wondering, the name has nothing to do with Old Mother Hubbard, (despite the shoe)

If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

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How to Stage Your Connecticut Home For Sale in the Winter

While we are lucky enough to enjoy the changes of the four different seasons in southwestern Connecticut, the Winter brings in colder temperatures, and much less daylight to work with, besides the wintry conditions that will inevitably occur. The unique set of challenges that occur during this time need to be addressed in order to properly stage your home to show at its best. Don't forget the basics of staging, just add these seasonal suggestions to show your home at its best.

... and remember,  buyers do appreciate the effort that you take to make sure your home is in show-ready condition, and you may very well end up getting more money for yoru home because of that little extra effort.

STAGE THE OUTSIDE FIRST:

Curb Appeal Brush Up

Weather permitting, and preferably before the first snow, clear out any excess fallen leaves from the yard, as well as the gutters. If there are any dead plants, remove them now. If there are tools that are outside, bring themin the shed or garage. Remove any garden hoses and turn the water off for the spigot, if it's not already off.

Add to your Curb Appeal

Who says you can't put flowers out of some kind?  Colorful Mums are great in the fall through early December, and small seasonal faux trees in pots look great on your front porch, either with or without lights. A wreath of almost an type on your front door is also quite welcoming. Whatever plant or wreath you choose, please just make sure they are seasonally appropriate.

Exterior Lighting

Are the lights at your front door bright enough? Maybe it's time to change them,  add  more fixtures, or at least change the wattage on the bulb.

The Rear and Side Yard Views

You may not have thought about during the winter, but just go ahead adn go to the rear of your yard and look at your home from the back.  If you have a rear deck or porch, put a pot of seasonal plants there, too. At some point during the winter, it will be unforgiving cold. Consider a well made alternative. It is all the seemingly little things that add up and mean a lot.  

Patios, Porches and Decks

Make sure your deck and/or patio is free and clear of any debris. You may want to check for any loose planking, screws or nails, and fix wherever appropriate. Clean your deck off completely, and that includes storing the furniture in the garage, shed or basement. When the snow comes, the buyer should be able to walk on a totally clear deck, where the snow has all been removed. Helpful Hint: It is much easier to sweep  or shovel off the snow when the deck is completely clear.

Don't Forget to Check Your Side Yard.

Just make sure  that it's neat and tidy. If you store your trash cans outdoors on the side of your home,  make sure they are as clean as possible. (No scuffs, scrapes or old dirt on the outside)

Clear Your Driveway, Front Walk, and Front Porch of Snow and Ice.

This is the single most important item on the winter staging agenda. If buyers cannot reach your home due to an snow covered driveway, snow covered walkway and/or porch, they won't come in. Ice is even more treacherous. There are plenty of products on the market that will just about do all the work for you to get that ice removed.  If you are away frequently, hire someone to handle ice and snow removal in your absence.

Windows

Get the windows washed if you haven't done so recently. Besides the fact that the sun is lower in the winter, and shows every piece of dirt on every piece of glass, the added unobstructed sunlight  will add very nicely to your home's appeal.

NOW, STAGE THE INSIDE:

Warmth

Think warm and cozy. If the weather outside is frightful, make your home's temperature delightful. (Sorry, just couldn't resist that one) Truly, a warm home is much more comfortable to look at than a cold one. If the buyers aren't comfortable, they will not stay long enough to view your home without  just hurrying up to get back into their car where it actually feels warmer.

Lighting

Take every advantage that you can of the diminished natural light that you get. Clean yuor blinds and curtains and open them as wide as possible. Clean the lamps, and bulbs (just make sure that the bulbs are cool to the touch before you do so). Replace bulbs with the highest wattage allowed for the fixture to add as much light. Put timers on selected lights to be able to have tour home in "light-ready show condition"  when you are not home.

Some extras to think about

Go ahead, set the dinner table. Put out some chocolates, or have a plate of cookies out.
Think about aromas- Cinnamon rolls, freshly baked bread, apple pie, chocolate chip cookies, vanilla or cinnamon- just don't overdo it.
If you have summer or fall photos of the outside, put them out for your buyers to see.

A few more relevant articles on staging:

Proper Staging and Guidelines for Home Showings

Staging the Outside of Your Home

How Much Does it Cost to Stage Your Home

If you have a question about buying or selling Real Estate in Fairfield County, and are in need of representation, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

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