Feb 112015
 

There are many great ways to expose your home to buyers but virtual tours add an element that shows your home in a manner perfect for social media. Visual Tour is a product by Paradym that we utilize for all our listings. We customize every one of our listings by adding more photos than the original 24 uploaded from MIBOR BLC and change the look and music to make each tour unique. We utilize the social media tools and post tours to our web site www.DerrickTeam.com as well as Facebook, Twitter, YouTube, etc.

VT Active Listings QRCode

QR Code

We also use the print tools that include QR codes that we place on every take one flyer for our listings that make it easy to see a tour with a smart phone or tablet while sitting in front of the home. One of the newest tools is the mobile marketing option that creates a code buyers can text and see the tour photos and details on their mobile device and we capture the number for follow up. This allows us to get instant feedback on what buyers think of the listing as well as contacts to invite to open houses.

Another feature we like and use is the reporting function that allows us to send weekly traffic reports to our clients so they can see the online interest in their home. This complements the other Internet traffic reports we provide each of our listing clients.

Tour-View-Report-1

Traffic Report

The Derrick Team has always utilized Visual Tour because we want to provide the best marketing tools for our listing clients. In order to guarantee to have your home marketed with Visual Tour you’ll have to hire The Derrick Team as most other agents do not offer it. And of course no other agents offer the extensive Internet marketing that we do. Call or text 317-563-1110 for a no obligation comparative market report and all the details on how we market your home.

Be sure and check out our current listing tour below.

Virtual Tour Inventory WidgetGet Adobe Flash Player

Dec 292014
 

Whenever we discuss our commissions we often find that people have no idea how a REALTOR® gets paid and all the work behind getting those paychecks. While each real estate company has different way of compensating their agents, certain aspects remain consistent no matter which brokerage they represent.

The first confusion is that REALTOR®s work for a broker as an employee and are compensated for any or all of the broker’s sales. The truth is that agents are actually self-employed as independent contractors. Indiana’s real estate license dictates that agents affiliate with a brokerage unless they choose to start their own company (there are other requirements before an agent can do so). As independent contractors we are only compensated on our own sales and not any other brokerage sales. So if a REALTOR® doesn’t sell any of their properties, they don’t make a cent. In some cases with larger teams, they all might get a cut of the team’s sales but that is really determined by the team leader.

The next part that is fairly consistent is with the brokerages’ compensation to the agent for the agent’s own sales. With each sale the commission is paid to the brokerage. Then the brokerage pays the agent based on predetermined percentages and other expenses. The part that varies with each brokerage is how they pass on expenses to the agents. In some cases it’s up front charges and others it’s taken out of the agents commission as a percentage of the sale. In either case understand that when you see the commission figures on closing documents, your agent is only getting a portion of that amount.

Now that you know we are self-employed you also have to understand that an agent is responsible for all their own taxes, professional fees, ongoing education requirements, transportation costs, and a lot of their business expenses. Some brokers provide a lot for their agents while others provide little if anything at all which often determines the commission percentages. But no matter how much the brokerage provides all agents will have to cover a lot of their own expenses if they want to be a successful agent. As you look at the chart to the right you’ll see in the end an agent gets a small profit from each sale and only after a successful closing.

So to summarize agents only get a percentage of the commission and only when they list and sell your home or help a buyer purchase a home. Up until a successful closing real estate agents assume all the expenses involved and receive absolutely no commission if there is no sale. As you can see a successful REALTOR® will do everything they can to help sell their listings, as there is no payday until they do.

Commision-Split

Dennis & Connie Derrick (The Derrick Team) are a husband / wife team and are associated with Carpenter Realtors because they provide the best marketing to their agents. Then The Derrick Team goes the extra step to present your home in the best possible way to buyers, as this is what we know helps sell your home. You only get the extra marketing by selecting The Derrick Team. We are also unique in that we enjoy what we do so helping our clients in any way we can is part of the experience you have with us. We like to help people with their real estate needs, but we do have bills to pay as well. Give us a call to discuss your needs today at 317-563-1110 or shoot us an email at DerrickTeam@DerrickTeam.com.

Dec 092014
 

The Power of the Internet

As Carpenter Agents, The Derrick Team utilizes every appropriate form of marketing tools Carpenter Realtors provides us but then will do even more for sellers to maximize the exposure to interested buyers. As many buyers today do their “First Showing” online with various Internet sites it is very important that an online showing is the best it can be. As most sites pull their data from the MIBOR information, we provide the best descriptions, pictures, links and detailed information to the BLC listing on MIBOR so this happens. Then Carpenter Realtors has negotiated with the Indianapolis Star and Homefinder.com to upgrade listings with options beyond the standard listing advertisements. Carpenter Agents can also add more information at www.CallCarpenter.com.

In addition to all this great online marketing, The Derrick Team will add to the Internet showings with a dedicated web page on our own Derrick Team web site for each of our listings. Why is this important? With each of the products and sites provided to agents through MIBOR (via MATRIX), the amount of information and pictures is limited due to the large number of listings on each web site (500 character limit in description, 24 photos). By having a page dedicated to each listing we can expand the information, pictures, videos, to as much as we need to properly market your property. A link to www.DerrickTeam.com is included in all marketing materials so interested buyers can easily check it out for more information.

But Wait, There’s More!

We will use web analytical traffic measuring tools to track traffic to the site to allow us to fine tune our marketing process. In addition to this we market our listings using social media such as Facebook, Twitter, our Derrick Team Blog, and Craigslist.com. This exposes your property to an even wider variety of possible buyers; all those on-line, tech-savvy, professionals.

Almost any Real Estate Agent will offer you some sort of Internet marketing but we know The Derrick Team is one of the few who will offer you all of these marketing methods, at no extra cost to you! All our marketing tools will make sure your property gets the maximum exposure where it counts, with interested buyers looking for property like yours!

Real World Marketing Examples With Maximum Exposure!

First we create a dedicated web page:

DedicatedSiteExample

 (which is automatically distributed to Facebook, Twitter, and other social media sites)

Then we advertise the Open Houses in Home Finder section in the Sunday Indianapolis Star and mention the web site as part of the description so readers can get easily find additional information about your home:

ThursdayAd

 Then we Facebook about the Open House which also draws more viewers to your listing on our web site:
FBopenhouse

Then we continue to market in print media, flyers, other web based real estate sites, always mentioning the web site for more details. Our upgraded take one flyers also reference the web site giving drive by buyers a quick way to get more information. In addition they can have a number they can text to receive a complete tour of the home on their mobile device.

TakeOneFlyerForestCommons-1

For a no obligation we’ll be happy to do a free market analysis of your home and show you everything we do to help you sell your home with the exclusive Derrick Team Above & Beyond Marketing. Call or text us at 317-563-1110 or send us an email.

The Derrick Team: Full Customer Service and Full Marketing Exposure!

Nov 132014
 

U-Haul-TruckOne thing we often hear from our clients selling their home and buying a new one is they don’t want move more than once. They want to move right from their current home into their new home. It’s an understandable desire as moving all your belongings is usually a highly underestimated task. One never realizes how much you own until you have to pack, move, and unpack. So the thought of doing it twice or more brings about a certain dread. The reality is the only way to make sure you only move once is to buy your new home first. But since most of our clients need to sell their current home first, that’s not a real option. So we’ll explain the best way to prepare yourself so that when you put your home on the market you’ll be in the best position to move only once.

The first step to prepare your home for the market is to declutter your home. This is also an excellent time to purge all those items you’ll never need again. Garage sales, giving items to friends & family, and donating are excellent ways to get rid of items that have some use, just not for you. And before you pitch any items in the trash, first consider recycling when possible. For any items you won’t need until after you move pack them away and if possible store them elsewhere. The idea here is the less you have to move to your next home the easier it is move over a weekend. These days you typically have only a few days to move out after closing so plan on a quick 2-3 day move and you’ll be fine. Don’t forget when you move out you cannot leave anything behind unless that is agreed to in the purchase agreement so give yourself time to have the home ‘broom clean’.

Next you want to have a target in mind of where you want to move. It’s best to search for homes before you even list your house so you have an idea of what’s on the market and what you can afford. Be sure and talk to a lender and get prequailified so you don’t have any nasty surprises later when you go to buy another home (we’ve seen that one before). Visit some open houses in the target area and talk to neighbors you see out. Having an idea of where you want to buy (and can afford) when you’ve sold your home helps keep the timeframe lined up with back to back closings so you only have to move once. You’ll need to watch the inventory supply for your target area. In some of the most popular areas homes sell quickly. If you are determined to buy in an area like that have your home ready to go on the market at any time. Then when the perfect home comes on the market get your home listed ASAP, and price it to sell quickly. A good REALTOR can help advise you on local sales prices so you’ll want to be the best deal in your area. You can also consider making a ‘first right’ offer on the home you like but many sellers are reluctant to do so in areas where homes sell quickly. Also be prepared to offer top dollar whenever you do make an offer. Again, a good REALTOR can advise you on the best tactics to entice the seller to accept you offer over other possible offers.

Finally, when you have an accepted offer on your home and have successfully negotiated an offer on the home you are buying, everything becomes time critical. The entire process of inspection, appraisal, necessary repairs, etc must move in lock step on both transactions. Any delay in one will affect the other and possibly jeopardize both. A good REALTOR will help you by staying on top of both transactions to ensure you have a back to back closing (usually on the same day) so you can work out an acceptable timetable with both parties and you’ll only have to move once.

So to summarize:
1. Reduce the amount of items you need to move so you can move in just 2-3 days.
2. Do your homework and know where you want to move based on what you’re approved for by a lender.
3. Get a good REALTOR that will make sure everything moves in lockstep in the sale of your home and the purchase of your new home.

A couple of items to note is we still recommend to our clients you have a backup plan in case you sell your home but some last minute issue keeps you from closing on your new home right away. And while it’s not always possible its handy if the home you are buying is vacant so there is no issue with immediate possession.

You’ll want to find a good experienced REALTOR with both listing and buying. The Derrick Team, Connie & Dennis Derrick are your experienced REALTORS and are here to help your move from your current home to your new one as smoothly as possible. Call or text us today at 317-563-1110. We work 7 days a week!

Nov 202013
 

love-referralsWe all could us some extra $$$! Here is all you have to do.

Next time you’re chatting with friends, family, coworkers, etc, and the topic of buying or selling real estate comes up, ask if they’ve been working with an agent to help guide them through the process, even if they’re 6 to 24 months out from doing anything. If the case is they have not or just are not impressed with the ones they’ve been dealing with, tell them you know a great team of agents ready to talk to them about anything real estate. Then send us their contact information and we will take it from there. Once we have successfully represented them with a real estate transaction, we’ll send you a gift card. Now how easy is that? And the bonus is they’ll love you for hooking them up with The Derrick Team. We work hard to keep our clients happy and make sure everything goes as smoothly as we can.

A big thanks to those who have already taken advantage of our referral program. This past year Alice, Noel, Keida, Todd, Tim & Brandi, and Cathy (our referral queen), all received gifts from us. It’s easy for you and you’ll know your referral is in good hands with The Derrick Team.

Call or text us at 317-563-1110 or use our handy Contact form here.

 

Nov 012013
 

Almost ThereYou’ve probably heard the horror stories from friend or had the unlucky experience yourself where you’ve sold your property and then unexpectedly you haven’t. You were making plans to move, maybe already had an offer on another home and now everything is back to trying to sell or buy a home. It’s one of the more frustrating parts of buying and selling real estate, but it happens. So in this article we’ll discuss some of the common reasons and some indicators to be on the lookout for.

There are several items that can require negotiation when selling / buying real estate and each one can be a potential trouble spot. Obviously the starting point is negotiating the price and contingencies in the purchase agreement. An offer with more contingencies is the first warning as that makes more hurdles to get over to finally close the transaction. The Derrick Team takes pride in writing ‘clean’ offers that avoids this when possible. Solid offers mean better chances of closing making everyone in the deal happy.

Problem Spots
But there are usually at least 2 contingencies that cannot be avoided after the price has been agreed upon. First the buyers should be getting an inspection for their own protection and a seller should be prepared for this, even if selling ‘as is’. Once the inspection report is done the buyer can renegotiate getting items repaired or an adjustment to the price. This is a common part where things go wrong as the buyer is in control here and the seller has to be on top of things to keep the buyer happy. If the buyer is not satisfied they can walk away and only be out the inspection costs.

The second contingency kicks in if the buyer is getting a loan, as then the property must be appraised to determine the value meets the loan amount. This can be tricky in today’s market because of the recent drop in home prices in some areas (that’s just now starting to climb again). This is a wild card and again the seller needs to be prepared for this possibility. In some cases the appraiser will point out some condition items of the home that have to be addressed as well, especially if its a FHA, USDA, or VA loan.

A few of the other common reasons are the buyer loses their job, the buyers own house sale falls apart, or the buyer loses interest and walks away (usually forfeits the earnest money). In rare cases the seller suddenly doesn’t want or need to move anymore and does a mutual release to remove the property from the market. In that case the buyer can hire a lawyer but it usually costs less to just go find another home.

For all these reasons and more it pays to have a good Realtor working for you. As mentioned a solid clean initial offer reduces the chance of a deal falling apart.

Being Prepared
A seller should know the general condition of their property and thus have some expectations on what a home inspection is going to turn up. When setting the marketing price that should be a consideration so if needed you can have a little wiggle room to address possible issues. One of the things we guide both sellers and buyers on is that the inspection report should be used to spot potential safety and expensive repairs, not cosmetic issues. But then there is always those surprise issues that show up (mold, hidden water damage, termites, etc) that can change everything.

If the home marketing report is used to set a realistic sales price the appraisal shouldn’t be an issue. But some homes are easier to estimate depending on the types of homes in the area. If there is an issue with the appraisal there are ways to keep the deal moving forward and a good Realtor knows how to do that. But this sometimes is what we call the ‘wild card’.

So a couple of things to watch for from the initial offer are a low earnest money amount (buyer doesn’t have much to lose if they just walk), or a lot of contingencies that have to be addressed before closing. A good Realtor will discuss all these with you and if any of them are a big concern.

Another red flag can be when the lender seems to be dragging their feet on getting the loan approved resulting in multiple delays on the closing date. Again a good Realtor can stay in contact with the lender to see what is holding things up and let you know what your options are if things don’t look good.

What You Need
A smart Realtor stays on top of every deal to make sure no options are missed when things start to go wrong. We at The Derrick Team work hard for our clients to make sure we get deals closed. We advise our clients on possible sticking points to try and eliminate surprises and explore multiple options when there are. We want everybody to be happy when we walk away from the closing table with another successfully closed transaction.

Call or text The Derrick Team at 317-563-1110 when you are ready to sell or buy and know you’ll be well represented in your next real estate transaction. Use our handy Contact Form here.

 

 

 

Jul 082013
 

Demo Man Dennis DerrickSome are born with the need to tinker. I am one of those persons and got that from my Father. He was always working on some sort of project around the house as I was growing up. Even then I was aware that this was not an automatic thing for all dads. Today as each generation has been raised with more diverse talents and occupations available the ‘around the home handyman’ is becoming less common. But since you can figure out how to do anything on the Internet (right or wrong), some still try to be that handyman that produces, um shall we say dubious results. This often becomes all too obvious at a point when you try and sell a home.

One of the most common ones we see is the attempt to paint, when a person shouldn’t really be allowed to hold a paintbrush. Walking through a home as they proudly show off the freshly painted walls, we have to point out the fresh paint on the ceilings, trim, windows, floor, etc. and politely ask how soon will you be finished cleaning up the, um overlap. Painting is more than slapping paint on the walls so keep that in mind if you plan to give it a shot. And if selling is in the near future, pick your colors carefully.

Flooring is often marketed these days as DIY with simple ‘peel & stick’ or ‘snap & click’. But again it stands out when the edges around the walls are not matched up, there are buckles in the middle, and the transition to the next room is an afterthought. As in painting, the quality of the installation is all in the details. And the cost of materials can make for an expensive mistake.

Another project today’s handyperson likes to tackle is tiling a backsplash or for the more brave, a whole shower. Watching the shows on HGTV makes it look like a snap. One little piece at a time you slap sticky stuff on it and slap in on the wall. Later you fill in the gaps with more sticky stuff to cover up the gaps, no matter how large. How hard is that? Let’s just say many find out halfway through the project they may have been just a little too ambitious.

These are just some of the most common little ‘big’ jobs that handy wannabes will attempt to spruce up their home. Our advice to anyone thinking about it: research and practice a little before taking on a larger project and take your time and pay attention to details. If you plan to sell your home in the next few years think carefully on how your workmanship will look when your home is on the market. Otherwise you may find yourself paying a professional more to undo all the damage you did.

Want free advice on getting your home ready to sell? Give The Derrick Team a text or call at 317-563-1110 today!

Jun 262013
 
magexample

Dedicated web site address

One of the many tools The Derrick Team utilizes to market our listings is the Call Carpenter Homes magazine. Our listings are added in there automatically by Carpenter when we list your home. But one thing that only The Derrick Team does is include a web site address in an ad so the reader can easily get more information on your home.

Carpenter prints the exclusive Call Carpenter Homes magazine bi-monthly filled with hundreds of Carpenter listings. We talk to many people who love to browse the magazine just to see what’s out there. The Derrick Team takes this one step further with a newsletter insert featuring local information along with our own listings.

CallCarpenterMagsOn a typical month we distribute between 300 to 400+ of the magazines with our insert. We deliver in neighborhoods, through stands in local businesses, and as hand outs in open houses and events like the Hendricks County Fair. So your home gets even more exposure locally to help you sell your home.

Find the Derrick Team Newsletter & Call Carpenter for Homes Magazine at: Specks Pet Supplies on US 36 and Los Rancheros at CR 100N & 267  in Avon, Edwards Equipment on Main Street in Danville.


Looking for business owners in the Avon / Danville area to co-market with.Derrick Team Magazine Rack

If you have or know someone with a area business with walk in traffic we’d like to invite your business with a free-to-you co-marketing opportunity!

The Derrick Team is one of Hendricks County’s successful real estate teams with Carpenter Realtors and utilizes all forms of marketing, much of it unique to The Derrick Team. While we have a strong presence on the Internet, we also utilize traditional printed media to connect with the local community in Hendricks County and the Indianapolis western metropolitan area.

We will be glad to include your business information and even provide ad space in our newsletter in exchange for a location to setup stand in your business. We take care of keeping the stand full with fresh stock. You just let us know what you would like to include. We can add flyers for your business in the magazines or a coupon in the newsletter. And we will do all the printing at no cost to you. We’ll even blog about your business to increase you own Internet presence.

Now how often do you get to advertise like this for free?

Call The Derrick Team today at 317-563-1110 for more information.

 

Jun 142013
 

Almost ThereAfter your agent has successfully negotiated the final documents with a buyer you smile and think your home is finally sold. Nope, the show hits the road and a good agent kicks into high gear. Depending on contingencies there will more negotiations possible during the sale process.

Typically the first will be from an inspection done for the buyers. This can be just for the buyers satisfaction but more often these days the buyers lender will have requirements that your home will have to pass before they will give the buyer a loan on the home. Common ones are termite inspection or tests on the well water and septic system if they apply. FHA loans can be denied if there is peeling lead based paint or the roof is beyond its designed life.

A good Realtor will note these items at the time of listing so you as the seller are prepared for possible costs involved with selling your home. But some items cannot be seen and thus will be part of the negotiations after the inspection report is delivered to the buyer and the buyer’s lender. These expectations also can be discussed before the inspection with the buyers if the accepted price considered items needing repairs. This is one of the reasons home warranties are popular now, as this will assure the buyer if mechanicals such as heating systems are really old they will be taken care of after the sale for minimum costs. The Derrick Team always recommends home warranties to our sellers.

Next comes the wild card, the appraisal. A good Realtor has looked carefully at the comparative home sales when pricing a home and has advised the seller on the possible appraisal value. Except for cash buyers, the appraisal will always set the price the buyer is going to pay. That is unless they can apply more cash on top of the loan amount to make up the difference (very rare these days). At the time of sale a good Realtor will examine recent comparative sales to provide to the appraiser if applicable. These days communications with the lender / appraiser / Realtor has to be limited so caution is the word. If the appraisal comes in lower than the sale price, the seller must discusses with their agent possible negotiations and options to keep the sale in motion. A good agent will have ideas to work out a deal that is acceptable to all parties.

Finally there is the closing. Working out a good time for everyone to meet and sign the paperwork along with when buyers take possession is one of the final negotiations, often based on the original purchase agreement but can be changed if all parties agree. The good thing is this is the one everyone is eager to accomplish and usually can be worked out to everyone’s satisfaction. You know everything’s been handled well when you have a smooth closing.

So keep in mind when hiring a Realtor to sell your home, the marketing is only the first step. You want an experienced Realtor ready to be representing you every step of the way, keeping all the gears well oiled all the way to that smooth closing. Call The Derrick Team today to discuss our marketing and closing processes that leads to happy clients at 317-563-1110.

May 102013
 

Information For BuyersSome of the usual tips you get to your home ready to show are clean and paint where needed. We’ve covered this in more detail on other blog posts. Here are a few important tips to set your home above your competition on the market.

1. Documentation on work performed on your home.

I would almost call this a diary of your home improvements. Gather up any invoices, documentation, permits, etc of major items that have been repaired, replaced, or upgraded. This can be a simple as a repair to the furnace to a bathroom remodel or new roof installed. Warranty information is especially important. Other work could be outlined in a document with dates and work performed such as owner performed landscaping, painting, etc. Not only does this impress buyers but this can be used for inspections and appraisals which is an added bonus.

2. Find documentation from when you purchased the home.

Most people don’t realize there can be some very helpful documents in your last purchase package. First is that most title companies will give you a discount on your owners title insurance if you provide the title work from the last purchase. Also there might be a boundary or stake survey included in the packet. If you purchased new it should have the model information and floor plan. Again very helpful and could be added to #1 item above.

 3. Utility and service vendor information.

Good agent will ask you for this so it helps to go ahead and gather this up ahead of time. You’ll need to come up with average costs for items such as electric, water, & gas if applicable. Also include cable, phone, and Internet services. Don’t forget if you use a lawn service, trash pickup service to include that as well. Of course this all can be neatly laid out in a document and added to the book. (Are you seeing a pattern yet?)

4. Seasonal photos.

If you have really nice landscaping with flowers the bloom in the spring find some photos you’ve taken (you didn’t just look at them did you?) If applicable maybe some nice fall foliage photos of the trees in full color. If you have that ideal back yard that looks great with a fresh snow include that one. Also any wildlife photos you snapped in the back yard that adds to the beauty setting of your yard. Share these photos with your agent and of course, add them to THE book.

Well I think you get the idea now, do some work upfront to wow your buyers on how well you’ve taken care of and enjoyed your home. This will in turn add value in the eyes of the buyers but also help when this is presented to the appraiser. When they determine the monetary value of a home they compare it to similar area sold homes and then make adjustments based on condition. With your documentation they can make those adjustment on the ‘plus’ side and in turn raise the overall value of your home.

The Derrick Team will be glad to help our sellers create this book in a nice format as part of our “Above and Beyond” marketing. Give us a call for more details at 317-563-1110.

Feb 272013
 

Inventory in the local real estate market continues to drop as more homes are sold and less are being added to the market. We are trending to a sellers market as sales continue to be very active in 2013. As you see in the reports below, Hendricks County is the lowest it’s been in several years, lower than the state average in the second report.  Prices will soon be increasing as the inventory stays low.

Call The Derrick Team if you are ready to sell as buyers are out there that want to buy now!

Hendricks County January 2013 Real Estate Report

As reported for the entire state of Indiana:

State Average for Inventory Supply

Jan 152013
 

In an unusual twist the real estate market got really busy at the end of 2012. Most of the time the end of the year is considered the ‘quiet time’ for real estate as the normal sales cycle slows down, especially around the holidays between Thanksgiving & New Years Day.

During this ‘quiet time’ The Derrick Team was really busy with several offers and sold half our inventory. Buyers are out in force and investors are snapping up homes left and right. One of our listings had 4 different cash offers!

Take a look at the Hendricks County November report below and you’ll see the highlighted figure of Months Supply of Inventory at 5.8. It’s been a long time since this has dipped below 6 months, which is often when the market edges closer to a sellers market. We hear buyers already complaining they cannot find the type of home they want.

Hendricks-County-Inventory

We were wondering if this would carry over to 2013 and so far it does seem to be the current trend. The activity on our listings and what other agents are saying indicates that the local real estate market is still going strong.

So what’s that mean for you? If you’ve been holding off on selling, don’t wait much longer. Interest rates are still low and buyers are already looking. If you wait much longer, you’ll have more competition as many sellers wait until late March or April to list their home. If you list now you’ll be in a better position to take advantage of the inventory shortage and could possibly sell quickly!

Give The Derrick Team a call and we’ll be glad to do a free Comparative Market Analysis and work out a plan to get you on the market quickly. Call us at 317-563-1110 right now!

Oct 202012
 

AhoSoldWhen you are going to sell a home, you first need to determine how motivated you are. A motivated seller will listen to good advice and prepare the home to show well to encourage offers from buyers. The not-so-motivated will say, “They’ll just have to buy it and fix it up themselves”. What the not-so-motivated don’t get is they can expect a longer time to sell for lot less money.

Before you look at a marketing report from your REALTOR be sure and think carefully about your motivation as that does effect how you price the property. Once you’ve received your marketing report with a range of possible listing prices based on solds, pendings, and the active competition in your area, look carefully at what sold / pended, as that is your target on what buyers are looking for. The actives are really for information only and should not be factored into your list price.

Now consider your motivation for selling. Look at the following and see where you fall:

  • Very aggressive – Must sell. Examples: Job relocation, health or financial reasons, divorce, or estate settlement.
  • Aggressive – Would really like to sell but don’t have too.  Examples: Need a larger/smaller home, would like to live in a different school district, want to live closer to your work/family, or ready to move to your retirement destination.
  • Kicking the tires – Will sell under the right conditions. Examples: Interested in a different home on the market, tired of cleaning a large home, ready for a maintenance free condo.

No matter what your motivation level is, do yourself a favor and get your property show ready. The feedback you want to hear is “home shows nice”. Those are the homes that sell quicker and for higher prices which is what every seller wants, no matter your motivation.

No matter what your motivation is, give The Derrick Team a call for a FREE no-obligation home market evaluation at 317-563-1110.

May 142012
 
Contact the Derrick Team at 317.563.1110

Sweet Dreams of a New Home

Let’s start with why. Sometimes it’s obvious, such as you’ve been transferred to a new city. Or maybe family situations have changed such as a divorce, death, or recent medical conditions. Maybe you’ve found your house is too expensive or large and you have to downsize. If any of these are the case or you just know you have to move the next section won’t apply but read it anyway as it might open your eyes to a potential problem.

Now maybe you’re just considering a move, but don’t have a specific reason that you have to sell your home. There is a little more to consider. First, determine where you want to move to. Do a little research and look for an area that interests you. Check home prices (your Realtor can help, you do know one now), and visit Open Houses when you see them in the target area. Talk to friends that live in the area. Once you have an idea, now make sure you can afford to live there. This is a step sellers often forget to do, no matter what the reason to sell is, make sure you can buy another home! Check with your bank or lender and get prequalified. Just because you own one now doesn’t guarantee you can buy another. Job changes, credit problems, other debt load, can easily disqualify you from a new mortgage. They will prequalify you based on the sale of your current home. A CMA can help here so have your Realtor do one for you. None of this obligates you to sell your home, it’s just a good homework assignment before moving to the next step.

The next part is evaluating the readiness of your home for selling it for the best return on your investment. In other words it needs to look move-in-ready to help you get the best sales price possible in this highly competitive market. At a basic level you need to think of fresh paint, replacing worn flooring, installing new fixtures in kitchens & bathrooms if they are stained or extremely outdated. Again your Realtor (the one you now know) can assist you in what helps the best in your area and price range. You don’t want to spend too much and not get that much back, so don’t get too carried away. See more about preparations in the post.

Now you are ready to put it on the market, right? No not quite yet. Prepare yourself for your life being interrupted for showings and open houses. Start packing what you don’t need and make your home look inviting but not too personalized. Start making plans for your move. Don’t be caught off guard when an offer comes in. We’ve sold homes in days before (once a more common thing than today), and our seller had to scramble to find a place to live. So you don’t have to rush to buy a home if that happens, accept the fact you may have to move into temporary housing, nobody wants to rush a home buying decision.

If you are ready to sell, or will be soon, call that Realtor you know today. That would be The Derrick Team at 317-563-1110. We’re here to help for all your real estate needs!

Mar 152012
 

 

Virtual Tours Help Market Your Home

Virtual Tours Help Market Your Home

In one word: Marketing

Real estate agents don’t sell homes, the owners do. Property owners decide the price they are willing to take. We can guide you to set the best possible price but there is no guarantee a buyer will be willing to pay that much. In the end YOU decide to sell your property and for how much.

The reality is what real estate agents do is market your property. The idea is to market it well. The more buyers that are exposed to your home, the better chance you’ll get the price you want. It’s a numbers game that we do our best to put in your favor.

Carpenter provides all their agents with an extensive tool set to market each property beyond what most realtors can do. This is outlined in detail at Carpenter Home Marketing System .

Here’s the short list:

  • Distinctive signage
  • Information flyers
  • Targeted listing mailings
  • Newspaper advertisements (many options)
  • TV Show on Saturday mornings
  • Carpenter exclusive Homes magazine (over 50K+ distributed bi-monthly)
  • On the Internet there is:
  • CallCarpenter.com
  • Premium listing placement on Homefinder.com & Trulia.com
  • Distribution to all other home listing sites
  • Visual Tour videos on the MLS that are also uploaded to YouTube.com

What The Derrick Team adds:

All of this and more is in our toolbox to use to fine tune our marketing of your property to get maximum exposure to all buyers!

Give The Derrick Team a call or text today to setup a time we can come show you what we can do for you at 317-563-1110. We’ll talk to you with no high pressure sales and no obligation to use us when you list your property. We know you’ll like what you see! And we work 7 days a week, evenings too.

Feb 152012
 

Getting ready to put your home on the market? You might want to check out the requirements an appraiser will need to OK your home for an FHA loan. Why is this important? A large portion of homes are sold with the buyers getting some sort of FHA financing, or requires the home to pass FHA appraisals. If your home doesn’t pass that test, your limited to conventional or insured conventional loans, or cash buyers. That shrinks your buyers market, considerably…..!

From the FHA (HUD) web site:

Required Repairs: Required repairs are limited to those repairs necessary to preserve the continued marketability of the property and to protect the health and safety of the occupants, A.K.A. the three S’s:

Safety: protect the health and safety of the occupants

Security: protect the security of the property (security for the FHA insured mortgage.)

Soundness: correct physical deficiencies or conditions affecting structural integrity

In general this all sounds good as any buyer wants their property to be a good investment as it’s a rather substantial one for most buyers. But as a seller you can easily get tripped up on the sale process after a buyer has made an offer. You’ve negotiated a sale price that you feel comfortable with, and then the appraiser calls out many defective items that will need to be addressed in order for the FHA loan to be given to the buyer. Now your stuck with paying for the repairs, or letting the buyer walk away. And you’ll have to make those repairs before the next FHA buyer comes along. We’ve seen this happen more than once….

Some of the more common things to consider that often get called out are:

  • Peeling paint, especially on older homes (pre 1978) that might contain lead based paint.
  • Roofs that have outlived their life (a judgment call sometimes, others more obvious).
  • Exposed wiring or dangerous electrical issues.
  • Broken or missing windows.
  • Loose or missing handrails and balusters.
  • Holes in walls and flooring, especially as pertains to firewalls (between garage and home, or other units in multi unit buildings).

This is a very short list but it covers some of the items we’ve seen called out, more than once.

Appraisers are required to go by the FHA guidelines or they can be fined and lose their license. Some will be more strict than others and sometimes you can request a second one at your own expense. But that doesn’t guarantee anything, so the best approach is to address obvious items up front, and be prepared for some surprises, even on newer homes.

If you so desire you can review the entire FHA list here: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4150.2/41502c3HSGH.pdf

Or just give The Derrick Team a call. We’ll be glad to come do a walk through and help point out the obvious items we’ve seen called out. Some items can only be determined by a professional (electrician, HVAC tech, etc). But we can at least give you a heads up. Call us at 317-563-1110 today!

 

Dec 162011
 

Getting ready to put your home on the market?  Better get started right now!

We often think of spring as starting in late March because of the actual calendar tells us that. So people think of the prime home selling season as starting around the same time. But the truth doesn’t pay attention to the calendar so you need to change your perception as well.

If you are not already getting your home ready to market, you’d better get busy. As the chart showing the seasonal pending home sales shows you, that early spring peak starts in January, in the middle of winter! So to get in the early spring sales peak, you should have your home listed by the middle of January by the latest.

Give us a call if you have any questions on what you should be doing. We’ll be happy to help with a free CMA and tips for getting your home ready. Call The Derrick Team at 317.563.1110 today!

Dec 132011
 

SittingRoomArtworkFeedback from potential buyers, other agents, and open house visitors is an important part of figuring out what your home needs to help sell it as we’ve discussed in another blog post. But one thing we don’t always get is the emotional feelings people get when walking into your property. While many savvy buyers today are looking at a home purchase from a knowledgeable standpoint of location, construction, etc., the actual home that is chosen will often be because of an emotional reaction. Buyers surprise us all the time in their final selection due to some emotional trigger we failed to sense.

This reaction is often triggered by all of the 5 senses. And all 5 must be positive reactions! So while we often tend to look a physical aspects we see with our eyes, such as home condition, updates, etc., we should also pay attention to the feel, sound, taste, and especially the smell senses.

So while we all can do our best to address everything the best we can, we really think there is a point where a professional stager is the best tool we can use to perfect the best emotional reaction for buyers when they view your home. A good stager knows and works with preparing a home to satisfy a buyers senses and trigger a positive emotion, thus leading to quicker sale for often at a higher price.

The Derrick Team has just added another tool to our extensive marketing toolkit with the addition of a local home stager that’s been working in the area for several years that will work with us as needed to fine tune your home for today’s emotional buyers. This company has agreed to do the consulting with us on your home with their consulting fee not due till closing. And if your home doesn’t sell, you owe nothing. That’s how confident they are in what they’ll advise you to do to sell your home. You can do their recommendations yourself, hire it out to your preferred contractor, or turn it over to them and let them do everything for you (for additional fees).

Want to sell your home with the best marketing plan around? Then give The Derrick Team a call today at 317-563-1110 to talk to us about getting your home prepared to emotionally sell your home to a buyers 5 senses!

Oct 122011
 

EntryDoorArtworkWe’re moving to the cooler months where spending time indoors is the norm in central Indiana. If you are thinking of selling your home next spring, now is the time to start getting ready. We are going to talk about looking at your home through a potential buyers eyes (and nose).

First, while it’s still nice out, take a walk around your neighborhood and get some fresh air. While doing that make note of the homes that seem attractive to you. Neat yard, nicely trimmed hedges, colorful flowers, no peeling paint, etc. Look at those compared to the homes with weeds, broken fences, missing gutter, etc and think which home would you think about buying? Now when you get back around to your home, stand out front and look over what you might want to address before next spring and make a list before you forget!

Now step inside and take a deep breath. Smell anything at all? This morning’s breakfast or something currently cooking aside, make note of the source and make sure that it is addressed before you market the home. Anytime friends are over ask them if they notice any smells. Sometimes you get used to a home smell and don’t even notice it.

Now to the interior of the home. Walk around with a clipboard or notepad and make note of ANY defect you notice. Dirty ceiling lights, broken outlet cover, broken trim board, etc. Don’t think about how you can hide it with furniture, it must be cleaned / fixed / replaced! No detail is too much. Buyers will pick apart the home and when a list gets too lengthy in their mind, they will walk out and move on to the next home. They want a “Move In Ready” home.

Start with the simple things, like cleaning dirty items. As a rule of thumb we say clean it to make it look like new. If it won’t come clean replace or paint it. Not sure on what to replace it with? Look at home centers for ideas, or go visit nearby new model homes in the price point you expect (or want) your home to sell in.

Next look at more major things such as painting a room or replacing carpet or flooring. Try to look for what fits with the room’s original use; like hardwood in a dining room you’re using as a playroom now. Again you can get ideas from model homes and improvement centers / magazines. But don’t go crazy with colors when painting. Neutral tones or single accent walls are a safer bet. Tone down any walls you have that are currently really loud if at all possible. For projects you cannot do yourself, get quotes and mark those costs on your list.

Then there are the major items that can be really pricey to replace so first consider the value they add to your home before a complete bathroom or kitchen makeover. Again get quotes on these items and mark those costs on your list.

This is the point where you want to talk to a REALTOR about local home values. This will help you determine improvement vs. home value to see if it’s worth the costs. The Derrick Team will be glad to come talk to you months before you are ready to sell. And you are under no obligation to use us at any time. We just love to help people sell their homes. Call or text The Derrick Team anytime at 317-563-1110, we work 7 days a week including evenings!

Sep 262011
 

Selling property takes teamwork from both the seller & family and the REALTOR® who is under contract. Most people will think the REALTOR® is solely responsible for selling the property but that in fact is only partially true.

The Derrick Team

Teamwork Sells Homes!

The REALTOR® under contract with a seller is responsible for marketing, talking with other REALTORS® with clients interested in the property, and making sure all offers have complete contracts before the actual sale is completed. A good REALTOR® will advise their clients on items that help the property show better along with possible sales prices based on a Comparative Market Analysis.

But the main thing that makes this a true teamwork situation that most people don’t realize is the seller sells the home, not the REALTOR®.

Seller Responsibilities
While the REALTOR® advises a client on possible sales prices, it is the seller who sets the price the property is to be listed at. We know that overpriced property can take a long time to sell, if it sells at all. Proper pricing is the responsibility of the seller. Add the fact that only the seller can determine the offer price which they are willing to accept and you see, the seller has complete control on selling the property, not the REALTOR®. And the final part the seller controls is the actual showing condition of the property. This can make a big difference on how buyers view the property and ultimately the price offered. All that makes the seller & family very important team members in getting the property sold at a good price.

REALTOR® Responsibilities
So what is important about the REALTOR® you hire? A good REALTOR® will make sure contracts are in order and list your property in the local MLS (Multiple Listing Service). A great REALTOR® makes sure you have a good photos and description in the MLS. The BEST REALTOR® will market you home to make sure the most buyers view your home in increase the odds of the right buyer finding your property and bringing a great offer. The Derrick Team with our Above & Beyond Marketing will do that for you.

With a dedicated web site and extensive Internet exposure you’ll find The Derrick Team a very valuable member of the team to sell your property! Especially since you get 2 agents for the price of one! Get more details at www.DerrickTeam.com then call us at 317-563-1110 or drop us a note at DerrickTeam@DerrickTeam.com!

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