The real estate market has changed dramatically in the last few years. Gone are the days when everyone was related to a real estate professional. In the last 3 years, the number of Realtors in the Carson Valley and Carson City area has shrunk by 40%. So there are fewer to choose from, but how do you know whom to choose? What should you look for when hiring a Realtor?
In 2004, the Sierra Nevada Association of Realtors had almost 1,000 members. Every October, real estate professionals in the Carson City, Dayton Valley and Carson Valley area renew their memberships with the board. In October 2008, membership dropped to under 600 members. Now that the Northern Nevada real estate market has changed dramatically, many Realtors have left the industry. With the changes taking place in the market, those Realtors who endeavor to be successful have had to educate themselves - not only with technology advances - but with market changes such as how to effectively represent banks who own bank-owned REO homes in the area, to how to represent buyers when negotiating with a bank on a previously foreclosed home. Those Realtors who succeed in this market are trained specialists and worth talking to.
What can and should a seller expect from an Northern Nevada real estate professional today? Here is a list of things that are non-negotiable.
Web Exposure - The National Association of Realtors has reported that over eighty percent of homebuyers begin their home search online. There is more to having a strong internet presence than just creating a website. Do this little test. Go to Google or Yahoo and type in the name of a Realtor you are interviewing. Look at how many sites on the first and second page are directly related to that Realtor. Also, type in some key words for your area such as Carson Valley Real Estate and see how your Realtor ranks.
Speaking of the web, your home should be prominently featured in a Virtual Tour. This tour should showcase 60-100 images, showing your home as if the buyer was standing right there as they view it online. This tour should be available in multiple portals across the web, since not every buyer starts their search for a home in the Carson Valley in exactly the same place, or exactly the same way. Exposure on the web is paramount.
Market Trend Reports are a must in today's market. Market reports need to be generated at least monthly. The reason for this is that the market is changing at least monthly in most parts of the country. How can you know where the price of your home stands if you don't have any data to look at? A good monthly market analysis will help you keep a good pulse on the real estate market of your area. A complete market report will tell you how many homes sold in the previous month, the percentage of selling price was to asking price, how many days on market the homes took to sell, the per square foot price, and have a breakdown of home many homes sold according to pricing brackets.
Color Flyers are crucial in today's real estate market. Homes should always have a supply of accurately priced color flyers on hand for showings. Many buyers see multiple homes during a tour of available homes, and by the end of the day, they can't remember which home was which. If your home has a color flyer they can take with them, with pictures to help them remember the home, they will be better prepared to seriously consider your home as a potential purchase. The flyer should also have important information, such as square footage, property taxes, any upgrades, or other special features listed in bullet points.
Exterior signage is also very important. Some Realtors in the Northern Nevada area display a basic sign with their picture and phone number. Are they advertising the home or advertising themselves? Signage should always have the website address where buyers can find the virtual tour so they can find out more about the home. Make sure signage advertises your home, not just the Realtor.
Speaking of advertising, another effective advertising technique is radio transmission. Ask your Realtor if they use a "Talking House" transmitter to advertise your home. This transmitter is placed in your home and a professionally recorded message is placed upon it up to 5 minutes in duration. This message describes your home to those people who drive by the home can listen to the recording any time of day or night. This is like having your real estate agent curbside 24 hours a day, 7 days a week. The prospective buyer can obtain a great deal of information about the home from this recording. Alongside with the radio transmitter, the agent should have additional signage instructing the prospective buyer on which channel to tune into to hear the recording.
Direct Mail is a great method to expose your property to the market. A mail communication advising your closest 500 neighbors that your home is for sale is imperative. According to the National Association of Realtors, one in six homes is sold by a neighbor. This means that there are families living in the immediate vicinity who like where they live, and probably have friends who would like to live in the area as well. It is very important to make sure all the neighbors know the home is for sale.
As a seller, you should demand these things from your Realtor. If you do, you will stand a much better chance of getting your home exposed locally and globally.
Christianne Gordon, Realtor with RE/MAX Realty Affiliates in Gardnerville, Nevada. First licensed in 1999. Sold over $85 million in the last ten years. Visit http://www.greatnevadahomes.com to learn more.
Christianne Gordon, REALTOR, e-PRO
RE/MAX Realty Affiliates
(775) 881-8223
christy@greatnevadahomes.com
http://www.greatnevadahomes.com
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