Who is Watching the Store?

I hope the title would grab your attention. Here is a quick story: We have new clients in Atlanta. As they look at a home with us they continue to have their Las Vegas home up for sale. The home in Las Vegas is a new property, in excellent shape, and priced to sell. After 7 months in a busy Las Vegas market, not one offer. Priced lowered, not one offer. Our clients frustration continued to increase. We finally asked them about the home in Las Vegas, and more importantly, what their agent is telling them through feedback. Their agent has not been in touch with them at all. He does not answer their emails and does not send them updates. So my partner and I look into the situation. We go to Realtor.com to see what the home looks like in order to suggest a course of action. We were shocked to see the presentation online. Half of the pictures were so small that you could not see them. they were horrible. More importantly: THERE WAS A VIRTUAL TOUR OF A DIFFERENT HOME ON THEIR LISTING! The virtual tour of the other home showed a run down home in horrible condition. We worked with our clients and had them withdraw their ONE YEAR LISTING AGREEMENT (the agent got a one year listing agreement). Of course it took a while because the broker would not respond to request for help. We now have them in the hands of a new agent. Two thoughts: For my fellow agents: Pictures are the most important component of marketing and selling a home. We cannot cut corners. We owe our clients top quality, professional pictures for their home. We also need to send our clients links to their home on various websites so they can see the presentation. For my home sellers: You need to be more proactive with your agent. In an initial listing presentation ask the agent to show you other listings they have as they appear on the internet. Also ask them about all of their marketing in great detail. Once you sign an agreement with an agent, demand that the agent send you your home as it appears on the internet. At the same time periodically go on the major websites and see your home and its appearance. Bottom line: Everybody needs to be more proactive.

We Would Like Some Respect

A couple of years ago I did a blog about the lack of respect we receive as agents. After 7 years in the business, numerous awards, and high rankings as a top producer, our team receives absolutely no respect from the majority of our clients. I say this as a point of ever deepening frustration for The Wells Team. Three weekends we received 5 offers on 5 different properties. As of today three of those offers fell through. As we presented these offers to our clients we were met with very negative, and frustrating, comments and feedback. In every case we presented our sellers a thorough analysis of the offer, the market, neighborhood statistics, and other supporting information. The results were mixed at best. One seller got very rude with us over the “horrible” offer. He was not going to closing with money. (That was not correct) We were told our negotiating skills were terrible. “Why am I paying you? All you do is write amendments and pass them back and forth.” I don’t want to look at any of your statistics. They do not apply to my home. I don’t care what has sold around me my home is different. You showed me you could get a higher percentage for my home. (If it was priced right from the start) I just had an appraisal. Why won’t they pay me what my appraisal says? And other comments that were insulting to us We deal with well educated professionals as our clients. We give them the respect that they are due. The Wells Team is made up of three professionals who are college educated, have had successful professional careers, attend classes, meetings, and seminars on a constant basis. As a result we are met with a serious lack of respect. The ironic part is that our clients who state they understand that this is a business end up becoming emotional when they receive an offer. My summary on this: I do not tell you how to do your job, I show you respect, and you hired me to market and sell your home. In return I ask for respect, I do not need to be told how to do my job, and The Wells Team will work their best to do the best that is possible for you our client.

Top Trends from The Norton Agency

We had the opportunity to attend The Norton Agency Advanced Seminar last week. Our President, Frank Norton Jr, gave us a lot of statistics, information, and trends for the national and local real estate market.



Top ten trends, for our area, as identified by The Norton Agency

Expect no upward swing (in regards to prices)
Foreclosures have run their course in Georgia
Lending is invisible (more lending alternatives)
Cash is piled up on the sidelines (folks in a holding pattern)
Value price is in
Healthcare sector is pumping
Agriculture is back (demand for small farms)
Function before glamour (in regards to a home)
Rampant uncertainity is paralyzing!
We are on the edge of a centennial investment opportunity!
With interest rates being the lowest since 1930, owning a home being cheaper than renting, and low pricing, this could very easily be the best opportunity we will have in our lifetime! Take advantage of it!

Relationships Still Work

We were approached by a company offering an internet lead capture system.

I know that they are great systems but The Wells Team obtains their business the old fashioned way: Personal Realtionships.

We are going to have a successful year despite the tough real estate market. The majority of our business is from personal relationships.

The Wells Team has made it a point to be active in the local community, participate in local organizations, and donate to local groups that need assistance.

I realize this is very basic but, after six years in the business, relationships remain a fundamental part of our success.

A simple concept.

QR Codes The New Technology

Another new technology! At least for me it is new!

The QR (Quick Response) code resembles a bar code. It was created by Denso Wave, of Japan, in 1994 and has been a popular item in Asia.

The company that does all of our virtual tours, Obeo, has introduced these QR codes on all of our virtual tours. All we have to do is save the QR code as a jpeg file and then paste on our flyers. It is that sample. When a buyer pulls a flyer they scan the QR code with their mobile phone and they are immediately connected the internet and that particular website. Another great source of inquiries!

As for the software: I did not think I could download any software on my cell phone because I have an older model. No problem. Go to the following website: http://www.mobile-barcodes.com/qr-code-software/ On this website I was able to find the correct software and download it on my phone (remember you have to have internet access on your phone to use this product).

Now just open the software on your phone point to the QR code using your camera. The software will scan the QR code and open up that site on the internet.

Love them or hate them QR codes are new wave of technology that is here to stay

At The Wells Team we are constantly trying to provide our clients with the best technology

Now This is What I Call Service

I admit it. I have another career besides real estate. Yes I have been an airline pilot for 20 years. I have been in real estate for 6 years. This was a chance to combine the two and give incredible service to a client.

The night my clients were leaving for a two week vacation to England I received an offer on their home. Figures! They really wanted to enjoy their vacation and not endure the stress of constant emails, counteroffers, and the other joys of negotiating.

Instead I happened to be flying to London on a scheduled trip for the airline.

Contract in hand I boarded the "tube" (London subway), met my clients at their hotel, and proceeded to have dinner with them.

After finishing a wonderful Indian meal we pulled out the contracts and went to work.A couple of changes made, contracts signed, and I was on my way home.

I presented the contracts to the buyers agent upon my arrival home. It looked good

However...

My clients had made enough changes that the buyers changed their mind, terminated the contract, and started looking for other homes.

Next time I will ask Queen Elizabeth for her help...

I can honestly say one thing: You cannot offer better service then that!

Paint the Door

My wife does the marketing for The Wells Team. One of her "things" is to have the door painted on a home when we list it. I have to admit that I never thought it was a necessity in many cases but I have been proved wrong.

Our highest priced listing had a showing last week. This home has been upgraded inside and out and has captured a lot of serious inquiries.

However last week I received some feedback from a recent showing. The agent said that the door was in bad shape and appeared worn. It gave a bad initial impression and subsequently lost the interest of these potential buyers.

A small point but one that had big ramifications.

When buyers are looking at multiple homes in a day a good first impression is crucial.

Painting that door might help!