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Category: Tips for Sellers

Specific tips on displaying your home and closing the deal.

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Why use a realtor?

Realtor pin
Realtor

All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS(r) are properly called REALTORS(r). They proudly display the REALTOR "(r)" logo on the business card or other marketing and sales literature. All agents and brokers at Condo Alexandria are Realtors. REALTORS(r) are committed to treat all parties to a transaction honestly. REALTORS(r) subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR(r) again.

Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR(r).

But if you're still not convinced of the value of a REALTOR(r), here are a dozen more reasons to use a Realtor from Condo Alexandria.

For more information or to set up an appointment call Stuart at (703)765-0300.

Tips for Pricing your Home or Condo

Consider comparables.

Julie Nesbitt
Julie sold another!
What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities? If you live in Old Town Alexandria, it's important to look at what homes have sold for in Old Town Alexandria. If you live in Kingstowne look at sales prices of similar homes in Kingstowne. Also, understand the distinction between sales price and listing price. When looking at comparables, the sales price is what the home actually sold for.

Consider competition.

How many other houses are for sale in your area? What condos are for sale in your building? Are you competing against new homes? Are they building a brand new condominium across the street? In this case the listing price is what other people are asking for their homes. I hate to be the one to tell you, but no one cares what you paid for your home. Whether you paid too much or too little, the price is still governed by homes listed for sale now and homes that have sold.

Consider your contingencies.

Do you have special concerns that would affect the price you'll receive? For example, do you want to be able to move in four months? The more hoops you expect to put your buyer through, the lower price you can expect. This is true for buyers moving to the area to work at the Pentagon or for tech savvy buyers working in Tysons Corner.

Get an appraisal.

For a few hundred dollars, a qualified appraiser can give you an estimate of your home's value. Your Condo Alexandria REALTOR® can make some recommendations, or if you prefer at no charge we can prepare a comparative market analysis to see what you home might sell for. We'll take a look at homes that are for sale now and similar homes that have sold recently.

Be accurate.

Studies show that homes priced more than 3 percent over the correct price take longer to sell. This is probably even more true now that we are in a buyer's market.

Know what you'll take.

In the end, it's critical to know what price you'll accept before beginning a negotiation with a buyer. For more information or to set up an appointment call Julie at (703)765-0300.

The importance of marketing …

Marketing is how you communicate to customers and potential customers what you're all about. How important is marketing? Terminator If you've seen the Terminator then it should be apparent just how important marketing is. A good marketer never lies. A marketer selects the facts that are relevant and uses them to put his product in the best light. https://www.youtube.com/watch?v=Gf7h6o3I8yw shining One of the reasons a good realtor is an important asset when you're seeking a new home is because a knowledgeable realtor might have an understanding or information that might not be readily apparent to you. As in the Mary Poppins example, home buyers sometimes don't have a full picture of an area or a neighborhood and they are scared by aspects of a neighborhood that they should embrace rather than fear. The truth is a skilled marketer can arrange facts to give a powerful impression that isn't really reflective of reality. But a good marketer only uses his powers for good and not for evil. Mary Poppins That is to say that a marketer should always consider the public's best interests when marketing a property. The trouble is not all marketers are good and many marketers are unskilled. That's why a realtor is so important when you're searching for a new home. As a trusted expert, the realtor knows where reality lies and can help you sort out marketing enticements from marketing facts. To market your home, condo or property in or near Alexandria VA , please contact me, Will Nesbitt . If you're buying a home, you need an expert who can show you what Northern Virginia is all about and who knows the neighborhoods of Northern Virginia . For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

How does a real estate agent become a REALTOR?

RealtorA real estate agent is a professional licensed to buy, sell and manage real estate for a fee on the behalf of others. Not all real estate agents are REALTORS.  A broker is a real estate agent who has reached a higher educational standard and who accepts certain additional responsibilities commensurate with this level of licensing. The term "Realtor" is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of Realtors. A real estate agent or broker who joins the National Association of Realtors is a Realtor.  The National Association of Realtors (NAR) claims to be world's largest professional association. The single biggest distinction between a real estate agent and a Realtor is that all Realtors agree to abide by a strict Code of Ethics. From their voluntary adherence to a Code of Ethics to their incomparable knowledge of real estate processes, Realtors are the experts of residential and commercial property transactions.
Stuart and Will
A broker has a higher experience level and higher educational requirement than an agent, but both are Realtors.
Founded in 1908, National Association of Realtors has grown from its original nucleus of 120 members to more than 1 million today. National Association of Realtors is composed of Realtors who are involved in residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors, and others who are engaged in all aspects of the real estate industry. Realtors belong to one or more of 1,700 local associations/boards and 54 state and territory associations of Realtors and can join one of our many institutes, societies, and councils. Brokers and agents of Condo Alexandria are members of the Northern Virginia Association of Realtors. Additionally, National Association of Realtors offers members the opportunity to be active in our appraisal and international real estate specialty sections. Realtors are pledged to a strict Code of Ethics and Standards of Practice. Working for America's property owners, the National Association of Realtors provides a facility for professional development, research, and exchange of information among its members. Condo Alexandria agents and brokers take advantage of educational opportunities with the National Association of Realtors and the Northern Virginia Association of Realtors to continue expanding our knowledge of all aspects of real estate related expertise. For more information or to set up an appointment call Stuart at (703)765-0300.

Simple tips for selling your home.

It's hard to tell exactly what will sell your home. But it's fairly easy to spot things that will prevent your house or condo in Northern Virginia from selling. Whenever possible, follow these tips for the maximum impact.
Falls Church realtors
Byron condominium is located in Falls Church VA
1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don't forget to clean out the garage, too. 2. Wash your windows and screens. This will help get more light into the interior of the home. 3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It's worth hiring a cleaning service if you can afford it. 4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.
Living room at the Jamieson
Quality designs to fit the Carlyle District expectations
5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint. 6. Don't disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they'll give buyers the impression that the house isn't well-maintained. 7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway. 8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable. 9. Add a touch of color in the living room. A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa. 10. Buy a flowering plant and put it near a window you pass by frequently. 11. Make centerpieces for your tables. Use brightly colored fruit or flowers. 12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress. 13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one. 14. Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it's not in use.
living room
This large living room offers a fireplace as a focal point. The contiguous sun room provides lots of light.
15. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight. 16. Send your pets to a neighbor or take them outside. If that's not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they'll be to eliminate surprises. 17. Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it's impossible to watch everyone all the time. 18. Leave the home. It's usually best if the sellers are not at home. It's awkward for prospective buyers to look in your closets and express their opinions of your home with you there. For more information or to set up an appointment call Julie at (703)765-0300.

7 Things Your Realtor Doesn’t Want to Hear

  1. “I’ll know it when I see it.” Buyers should come into the home buying process with a list of must-haves and wants. Buyers that want to be taken seriously get preapproved. This helps to expedite the process of making offers and also to pinpoint the price range of what the buyer can afford.
    Stuart and Will Nesbitt discussing real estate related matters in the office
    Stuart and Will Nesbitt discussing real estate related matters in the office
  2. “I’m not in any hurry.” Realtors don’t expect to rush you through the home buying process. At the same time, they don’t want to waste their time with a client that doesn’t have any firm motivation to make offers or to buy.
  3. “I’m not going to give it away,” or “it was good enough for me for 30 years, it ought to be good enough for a buyer.” Stiff prices based on feelings can result in a home with a price that will never sell. Realtors suggested prices factor in market value and current conditions.
  4. “Let’s test the market at this price.” This usually means that the price is too high and that the house will set on the market until it gets stale. Because it the home sets in the market for too long, people start to think there’s something wrong with the home and as a result the home ends up selling for less. Realistic prices get realistic offers.
  5. “My sister (brother, cousin, friend,) is a Realtor in another state and she told me that my house would be worth $XXXXXX.” This is a bad idea because no one, including another Realtor, can advise someone about real estate pricing in another state.
  6. “Let’s toss this low-ball offer in to see how serious (or desperate) the seller really is.” A common effect of a low ball offer is rejection and no counter offer. Low-ball offers just offend sellers and result in the seller not taking the offer seriously. Realtors can help generate reasonable offers that will progress the home buying process.
  7. “I’ve bought and sold lots of homes, so I know real estate.” Each real estate transaction stands alone because of several variables (e.g. property’s location, property’s condition, and market value.)
  References: Werner, N. (2013, November 19). Things your REALTOR doesn't want to hear.... Things your REALTOR doesn't want to hear.... Retrieved November 22, 2013, from http://normwerner.realtytimes.com/advicefromagents1/item/26647-things-your-realtor-doesn-t-want-to-hear  

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Selling your condo? Don’t forget the basics.

Use a Realtor

When it comes to selling your condo, it is always a good idea to enlist in the help of a Realtor. With the help of a Realtor, you will be able to reach a broader number of potential buyers through the MLS. A good Realtor will help to make sure all of the paperwork is in proper order for the sale to be complete. A Condo Alexandria Realtor specializes in condos and understands the benefits of condo living.

Make a list, sell it twice.

Make a list of the benefits of your condo. What makes your condo special? Why did you buy this condo? Where is the Metro? What's so great about your location? What are your favorite nearby restaurants and attractions? What do you love about your condo? What are the amenities at your condominium association? List all the benefits of your condo. Then, share that list with your realtor. Post it on your refrigerator. Make sure everyone who visits your home knows why it's a good buy.

Market your condo!

If your condo is for sale by owner, you'll need to prepare a marketing campaign. Start with the list you created above. Put this on index cards that you can post in offices, grocery stores and anywhere that a buyer might see your ad. Bold lettering that says,

Walk to Metro!

Close to museums?

Amenities galore!

Your Condo Alexandria Realtor will handle marketing the property. Although you can attempt to do this on your own, you could also cut your own hair, change your own oil and do your own dental work. Sometimes, it just makes sense to hand things over to a professional A Realtor usually has marketing experience and knows what works. So your realtor will be able to create more effective marketing methods and will be able to reach a larger number of potential buyers.

Work your network.

Once you have decided to sell your condo, it's time to spread the word. The goal is to sell your condo in a short period of time at the price you are asking for. So, tell your neighbors, friends, and family that the condo is for sale. Let your Facebook buddies know. Don't keep your condo a secret, even if you have a Realtor helping you out. These days every little beit helps! Condos are special. When you sell a condo, you're not just selling a bedroom and kitchen, you're selling a lifestyle. The people who are attracted to your condo are people who don't want the benefits of home ownership without the aggravation of maintaining a yard or other problems that are commonly associated with home ownership.

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Will Nesbitt About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and maintains Condo Alexandria. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.

Tips for Home Sellers

When it's time to sell your house, townhouse or condo here are a few simple tips for realtors and home sellers alike.

Turn on your heart light.

Turn on the excitement by turning on all your lights - both inside and outside. Whether you are showing your home in the evening or in the day, lights add color and warmth. Prospective owners feel welcome in spaces that are bright and airy.home buyers dreaming of a home

Don't crowd your buyers.

Potential buyers often feel like intruders when they enter your home. Rather than giving  your house the attention it deserves, prospects are likely to hurry through. When the  homeowners are present people often feel uncomfortable looking in closets and laundry rooms an other private areas. Additionally, rooms filled with people give the impression that the space is small.

I love pets ... but not your pet.

Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. Some prospects are allergic to some animals. Sadly, many people love their pets, but they don't like your pet. It's in your best interest to keep the animals outside or out of the way of potential buyers.

Don't create distractions

Rock-and-roll will never die. But it might kill a real estate transaction. Most of us love music, but not all of us love your music. When it's time to show your home, it's time to turn down the music. Turn off your TV because the last thing you want is for one of your buyers to watch the game while his wife falls in love with your house.

Give a wide berth.

A smiling seller is a welcome site, but a pesky seller will chase a home buyer away. It's important to be friendly but avoid being conversational. Anything you say could be construed to imply a warranty or could cost you thousands in negotiations.

Put things in perspective.

Some buyers will point out shortcomings or flaws in the property. It's best not to respond orally to these challenges. Utterances like these are seldom personal in this context. So, never take offense. Understand that these statements might be an indication of the buyer's ignorance, but sometimes the buyer attempting to frame negotiations with these statements. To engage the comment is to agree with the premise of the utterance.
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For more information or to set up an appointment call Julie at (703)765-0300.