Squeezing Every Last Dollar From Your Home Sale: Part ONE

HERE ARE VITAL TIPS AND STRATEGIES ON HOW TO MAKE THE MOST OF YOUR INVESTMENT WHEN YOU PREPARE TO SELL YOUR HOME. READ THIS REPORT AND MAXIMIZE YOUR RETURN ON INVESTMENT.

A Special Report Prepared By Erich Salas

How To Maximize Your Return When You Sell Your Home.

The “secret” to making top dollar when you sell your home isn’t really a secret at all—I’ve been “revealing” it to my clients for years. But because it involves a lot of discipline and elbow grease, many people decide to cut corners. And that’s when the price you could command begins to drop. 

Do not be one of those people. During my years in real estate, I’ve seen countless examples where well-considered, well-placed investments of time and a little money have dramatically improved the sales price and increased the speed in which a home has sold. 

My report will show you how even minor home improvements can substantially improve the value and marketability of your home.  In today’s economy, there are no guarantees that you will recoup what you spend to improve the value of your home—all the more reason it’s important to pick the right investments. 

But even when you don’t recoup all the money you invest to upgrade, many improvements can give you an important edge over other homes on the market. And the failure to make some improvements can leave you at a distinct disadvantage as buyers compare your home with the competition. Believe me, I’ve seen it happen time and again.

Spend time before you spend a dime

Unless your home is in mint condition or you’re selling it as a “fixer-upper,” there’s probably a long list of repair or remodeling projects to consider. These can range from relatively simple jobs, such as painting a bathroom, to more complex room-addition or remodeling projects.

In considering any home improvement project, you need to ask yourself a couple of questions: Why are you doing it? Is it work that really needs to be done—a paint job or replacing a leaky roof? Or is it an amenity you’d like that you think might appeal to a potential buyer—a hot tub or home office addition, for example. Will it add value to your home, or have no impact at all? Or will it make your home more difficult to sell?

Some investments—like painting and yard work—involve relatively little cash outlay and yet return many times your cost. Other improvements that you think add value have no significant impact. Adding a swimming pool is a good example. Besides the hassles of maintenance, a pool can reduce your home’s appeal among families with small children because of safety concerns.

Erich Salas

The CA Real Estate Doctor

The Truth About Real Estate Advertising - How do you choose a Realtor®?

(Without making your decision by default)

In the typical scenario, consumers choose a Realtor^® by opening the paper, seeing a house they’re interested in and calling the agent who advertised the house. And before they know it, that person has become their real estate agent – by default.

Remember, regardless of who advertised a house, all real estate agents have access to the same information. That means you can call any agent and they will be able to tell you about the house being advertised. It also means that if you choose your agent based solely on a house he or she advertised, you’re doing yourself a huge disservice. You wouldn’t select a doctor or lawyer or any other professional without getting to know who they are first, would you?

By keeping these three points in mind and meeting with several agents who meet the criteria, you will choose an agent that’s right for you and your individual needs.

1. Look for indicators of success

Today’s leading Realtors^® aren’t those running house ads or classifieds, but those who have a strong marketing presence with high-quality, personal marketing materials. According to consumer research, there are three traits you should look for in an agent: High-quality personal marketing materials, a personal brochure, and a seller’s questionnaire. High-quality marketing materials are full-color, professionally designed and printed on thick stock paper. Collect personal brochures from local agents, read them, and narrow them down to a short list of agents to meet with. Also, make sure each agent provides you with a seller’s questionnaire. While it will help them determine what you’re looking for, even more importantly, it’s an indication that they provide quality service.

2. Make a personality match

When you meet with the Realtors,^® look less for qualifications – after all, all licensed agents are able to do the same things – and focus on personality fit and your ability to relate to them as a person.

3. Make sure they understand you

An agent is only going to be as good as their understanding of your needs and desires. Make your intentions clear and specific. Then listen up to ensure they are on the same wavelength and that they are confident they will be able to cater to your specific needs.

The CA Real Estate Doctor

Erich Salas

Comparing 2 REO's in Nipomo Both Listed at $209,900.

Here is a preview of two REO's listings right around the corner from each other in Nipomo.

This is 197 E. Knotts Street in Nipomo. 3bd, 2bath, approx 1380 sq ft.

This is 244 E. Price Street in Nipomo. 3bd, 2bath, approx 1220 sq ft.

Both these house are located on the east side of hwy 101 near Nipomo Elementary.

The CA Real Estate Doctor
Erich Salas

The Truth About Real Estate Advertising - Myth No. 4

Myth No. 4 - Working with many Realtors^® gives you more exposure to the marketplace.

(The first three myths have been geared toward home sellers. This fourth myth is addressed to buyers.)

It’s actually kind of comical. When consumers do not understand how the MLS works, you’ll often see them bouncing from agent to agent hoping one agent will magically find the perfect home at the perfect price within an hour of meeting them. If only they knew – there is a better way.

Because all agents have access to the MLS, the best approach to selecting real estate representation is to allow one agent to get to know you and your needs. I’ve always believed that the better I get to know you and to truly understand your needs, the better chance I have  of helping you find the right property.

Furthermore, if I know I have your loyalty, I will be much more willing to do more and go out of my way to help you find exactly what you’re looking for. When an agent doesn’t have that loyalty, they often don’t invest the same effort into the home search, and for good reason.

Rather than rush you into my car, I prefer to have my clients complete a “Buyer Questionnaire” before we look for any properties. The questionnaire allows me to get to know you better and to better understand your needs and desires in a property. Then, once I have done sufficient research, I will present properties to you and take you to those you find worth investigating further.

If a Realtor^® attempts to immediately put you in the car and look at properties, be careful. They’re hoping to “win the lottery” by having you fall in love with a home emotionally without analyzing your actual needs. Often this leads to hasty decisions and buyer’s remorse just months later when the new homeowners realize the house they bought, while charming, may not be the best fit for their needs. Meanwhile, the real estate agent has cashed their commission check.

You want to avoid Realtors^® who operate from such a “sales mentality.” Today’s leading agents treat their careers like self-owned businesses, which means they take pride in forging long-term relationships that dictate they always act in the clients’ best interests. They’re not in it for the quick hit. For instance, I’d much rather be a trusted source of information and sell you three or four houses throughout the course of our relationship than make a quick buck never to hear from you again.

The CA Real Estate Doctor

Erich Salas

The Truth About Real Estate Advertising - Myth No. 3

Myth No. 3 - The best Realtors^® will personally have a buyer for my house.

One of the biggest fears in consumers’ minds is that they will list their home with a real estate agent who doesn’t bring any buyers to view their home. The reality is that’s actually the best-case scenario.

When selling your house, what you want to look for in a Realtor^® is a listing specialist. A listing specialist’s plan is to “sell” or expose your house to other Realtors,^® using the MLS to market your home, and basically making your home the focus of his or her activity. If the agent you choose is constantly out showing homes to buyers, they don’t have time for the networking that will expose your house to buyers throughout the region.

When you meet with agents regarding listing your home, make sure they have a plan for other agents to see your home. Evaluate the quality of materials they create for their listings. Research their reputation in the community and in the industry. For a listing specialist, a good reputation will cause other agents to preview your home more willingly and more often. This will maximize exposure for your home, and that’s exactly what you want from your Realtor.^®

^{The CA Real Estate Doctor}

^{Erich Salas}

The Truth About Real Estate Advertising - Open Houses

Myth No. 2 - Open houses will sell your home.

Selling a home is perhaps an even more stressful process than buying a home. First of all, you’re going to have many Realtors^® vying for your listing. They’re going to try to tell you all the great things they’ll do to sell your home. Chances are many agents will try to tell you how much they’ll advertise your house in house ads (which we’ve already dismissed as useless), and they’ll also try to convince you by pulling out the old signs from their trunk and promising an Open House every weekend until the house sells.

Now, let’s see how closely you’ve been paying attention. Remember how house ads only serve the real estate agents’ interests? Now, think about an Open House. What does it bring into your home? It brings a steady stream of people interested in buying a house – not necessarily your house, mind you, but interested in some house in the near future. And as a Realtor^® always on the lookout for the next client, it sure is nice to have people practically wave their hands and say, “Hey, look at me. I’m interested in buying a house and I don’t have a Realtor.^®”

Basically, the Open House is another lead-generating tool for Realtors^® that requires you to leave your house for a day while complete strangers take an unsupervised tour of your house and possessions. The truth of the matter is less than one of 10,000 people who walk into an Open House actually buy the house. It requires a great sacrifice on your part while providing very limited results.

Erich Salas

www.ErichSalas.com

Nipomo Elementary Schools Pre-Valentine's Day Taste L'Amour Fundraiser

This year's 2^nd Annual Taste l'Amour Wine Tasting & Gift Expo which was again hosted at Trilogy in Monarch Dunes offered everything last year's event did and more! Not only did everyone enjoy more wineries, more artists, more raffles to win and more one-of-a-kind gifts to buy, they also enjoyed the satisfaction of being part of the first organic gardening project for Nipomo’s grade schools. 

Inspired by the success of the event's premier in 2010 and encouraged by a deluge of compliments from both attendees and vendors, event organizers Jackie King with Barefoot Gardens and Ahly Mueller decided to step it up a notch this year and turn the free-admission event into a paid-admission fundraiser for their fledgling Nipomo Grade Schools Organic Garden Project.

So this year, with the invaluable help and support of Trilogy at Monarch Dunes, they decided to charge a $10 entry fee and raised over $2,100 through admissions and raffle ticket sales.” Event creator Jackie King says, ”Nipomo grade schools are the only ones in the county that don't have vegetable gardens for their students.” King, who is mother to her own Nipomo grade schooler, adds, “We want to help create grade school gardens for our community's kids to enjoy. They should have the same opportunities to have fun and learn about organic gardening as any other kids.”

This program aims to raise enough funds to fully finance the establishment of organic gardens at Dorthea Lange, Dana, and Nipomo Elementary Schools by the spring of 2013—that includes providing the materials, soil, and compost for raised beds as well as the first season's seeds and vegetable starts for the kids to plant. They will enlist the help of eager volunteers and the schools’ own 

parent-teacher organizations to help with the distribution of the funds.

The following is just a partial list of the local businesses that have made generous contributions to the schools by offering items and services for the event's raffles:

Jocko’s Steak House, Antonio’s Ristorante, Tanner Jack’s, Pi Whole Pizzeria, Me-N-Ed’s Pizza, Gibson Brothers BBQ, Laetitia Winery, Roblar Winery, Firestone Vineyards, Wood Winery, Per Bacco Cellars, Seasons Nails & Spa, Massage by Bill Morby of I’ve Got Your Back, Ruda Chiropractic, Gateway Picture Framing, Gerald’s Olde Thyme Chocolates, Ada’s Sweet Delights, The California Bee Co., La Bella Olives, Art of Flowers, Cloud 9 Design

Artists:

Sandra Johnson, Joe Tomei, Lorraine Cody, Glass Fusing by Ruby Glass, SLOCO Data and Printing, The Halcyon Store, Tierra Landscape Company, Lone Pine Nursery, Cherry Lane Nursery, Sweet Harvest Hydroponics and Organics, Barefoot Gardens Landscape Consulting and Design, GROW YOUR OWN Organic Garden Coaching for the Dirty Masses!

Thank's to all the support from everyone in this great community of ours!!
Erich Salas (Volunteer)