By Lesley Geary
TOP 5 IN REAL ESTATE NETWORK, May, 2009-Michael Snyder
Better Homes & Gardens Rand Realty
Years in real estate: 5
Region Served: Westchester County, New York
Average sales price in your market: $800,000
Average number of days a home spends on the market: 165
With an increasing inventory of homes on the market, what are some of your best strategies for decreasing a home’s listing time?
You have to sit down with the listing and identify a target audience. Once you know who your target audience is, you advertise in that area. It is very important to target where you want your messages and ads to go-whether that be to first-time home buyers or empty-nesters. I also merchandise the home correctly by working with a stager/designer to make sure the house looks perfect. Internet exposure is very important-that means the photography of the house has to be excellent. Having good relationships with other brokers is also key.
How do you work with sellers so that they have a realistic idea of how long it might take their home to sell?
When you are working with a seller you have to be as honest as possible and not sugarcoat anything. I show them comparable homes that have sold on the market and, from there, can pretty much give them an idea of how many days they can expect their home to be listed.
How are you encouraging buyers to take advantage of today’s market?
The best way is to explain the trends, stressing the low interest rates along with the $8,000 tax credit available for first-time home buyers. Most people don’t really understand the tax benefits of owning versus renting, so when new buyers come in, I make sure they understand all of these benefits.
How are you handling buyers who keep waiting for the price to drop on a listing they’re interested in?
You have to find out what their objectives are…why they want to be in a certain home. It is proven in our market that if the home is priced correctly, it is going to sell. Would you rather have the home that you truly love or risk losing it? That is what I ask a buyer who insists on waiting.
Why did you become a member of the Top 5 in Real Estate Network®?
The first presentation I went to was very convincing. The brochures-especially the brochure, There’s Only One Reason Why Your Home Didn’t Sell-were great. I get a lot of expired listings and I know people are tired of hearing over and over again, “you have to lower the price.” Of course, sometimes it is price, but there could be expired listings that don’t sell for various other reasons, such as poor photography that doesn’t do the home justice. These consumer-focused brochures are great for addressing issues like this. Top 5 also has great branding material, which means I don’t have to go out and personally promote myself. Top 5 promotes me and helps me help the people I am working with.
Allan Dalton (president of Top 5) knows his stuff. He is not some guy up the street that talks a good game. He’s the guy who created the largest website in the country for real estate.
How are you utilizing Top 5 consumer materials?
So far, I have used the What Every Home Seller Should Demand of Their Real Estate Agent brochure at my open houses. It’s all about differentiating myself. There are 7,500 agents in Westchester/Putnam Counties, so you have to really shine to succeed. I am hoping the Top 5 materials help me stand out.
What is the key to a successful life in real estate?
I have been very fortunate because I had my best year in real estate last year. I have an assistant, and I delegate those things that I am not good at doing and only do the things that I am good at. I have made a wonderful website, and I think Top 5 is going to help.
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