Pros and Cons of Using an Auction to Sell a Home

One of the ways you can sell your home is by putting it up for auction. Here are some pros and cons to using an auction to sell your home.

Selling in the Minneapolis area? Get a market analysis report

Purchasing in the Minneapolis area? Get full MLS access

Today I want to talk about the concept of auctioning homes. There are definitely some pros and cons to using an auction to sell your home. 

First, the pros. 

Why would you want to consider using an auction to sell your home? The key to selling is getting people to all want the same thing at the same time, which generally drives up the price. That is exactly what an auction does, as it brings a number of people to come see that property. 

Instead of potentially dragging out your market time, you have one big pop.

You need the best positioning, best marketing, and best experience.

Now, onto the cons. 

There is a good possibility that you will be very nervous. You’ll ask yourself what happens if it’s not done correctly, how will this affect our market time, what happens after the auction if I don’t get a sale, and will there be a stigma attached if we can’t sell the opening weekend? 

There is no right or wrong answer. It depends on the best positioning, the best marketing, and the best experience that you can put forth to be able to push that property in the right direction. 

If you have any other questions about auctions or have any general real estate questions, please feel free to reach out to me. I look forward to hearing from you soon.

How Can You Sell Your Home Over the Holidays?

Getting your home sold during the holidays means balancing the normal protocol of decluttering and depersonalization with the right amount of decoration.

Selling in the Minneapolis area? Get a market analysis report

Purchasing in the Minneapolis area? Get full MLS access

Thinking about selling your home during the holidays?

During this time of year, I often get asked several questions from sellers about when the best time of year to sell is, what buyers are like based on that time of year, and how they should prepare their homes accordingly. 

First and foremost, I have found that during the holidays, most people expect a slowdown of some kind. I will tell you, though, that buyers are extremely motivated during these times. If they’re willing to go through the extra time of looking at properties during the holidays, they’re very serious about their purchase. 

Buyers typically associate with a festive home very well.

If you’re a seller, declutter and depersonalize your home like you normally would, but consider how much you want to decorate, especially if it’s something that is more personal to you. However, you still want to make the home feel like home. If it’s festive, people will associate with that extremely well. Prepare your home the best you can even if you have seasonality issues. 

I have a volume of things I’d like to share with you on this topic, so if you have any questions, please feel free to reach out to me. Lastly, if you haven’t received or purchased a copy of my book One in a Million, connect with me so I can get you a copy at your convenience. I look forward to hearing from you!

What Not to Do When Working with a Real Estate Agent

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

I see too many home sellers sabotaging their own home sale. I wanted to share some tips with you on how to avoid things you shouldn't do when working with a real estate agent.

1. Sellers will occasionally want to say how great their home is compared to all other homes in the neighborhood. When people upgrade their homes, they don’t always get a dollar for dollar return on that investment.
2. Sellers will sometimes stay in the home for showings. This just makes buyers uncomfortable. Just don’t do this. It’s not professional and it will make selling your home even more difficult if you’re breathing down a buyer’s back.



“Don’t stay at your home during a showing.”




3. Some sellers don’t understand the pricing of their home and want to ask for an enormous price. Positioning your home right at fair market value is the best strategy. Asking too much will result in buyers ignoring your listing. Buyers are savvy and they know a good price when they see one.

These are things that just make it harder for an agent to sell your home. If you can avoid doing these things, you’ll make it much easier for your real estate agent to sell your home.

If you have any questions or concerns about this material, please don’t hesitate to contact me!

Prepare Your Home For the Big Move

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, Pamela Moroney from Creating Clarity joins us to discuss preparing your home for sale. Preparing to move is stressful enough! That’s why it’s so important to be prepared before the movers come to your door.

You should have everything set up and boxed before the movers arrive. When packing, think about what you want to unpack first. These boxes and items should be set aside to be loaded in the moving truck last. That way, when you arrive to your new home, you already have these items readily accessible towards the front. This could be your bed, toiletries, and anything you need for that first stay in your new home!

Stay tuned with us the over the next few months and weeks. We’ll be sending you tips to help you move. As always, thank you so much for your business! Give us a call or send us an email if you have a question or are looking to buy or sell.

Why Aren't There Many Homes to Choose From in Minneapolis?

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

A number of people have asked us why it seems that this spring and summer have proven to be a tough market for buyers. Many people have had a difficult time finding desirable homes, as sellers have not flooded the market like they have in the past. What is it that's keeping people from selling? We think it's three things:

1. Sellers don't know that inventory is low. They feel like if they put their home on the market, there is a number of other sellers who are out there, and that it will be difficult to sell or tough to get the price they want. This couldn't be further from the truth: low interest rates and buyer demand have brought prices up significantly.

2. Sellers think that there is a difficult credit and lending requirement. In truth, credit score requirements have loosened up a bit since the end of the recession, making it easier for buyers to come into the marketplace. There are a whole lot of people entering the marketplace right now who either weren't eligible or weren't interested in buying in the last fives years.

3. There is no more foreclosure or bank-owned inventory. This segment of the market has dried up, which means sellers don't have to compete with low-end pricing.

The only thing sellers are lacking is information! And that's why we're here: we want to give you the best possible advice and guide you through the selling process if that's what you're ready to do. If you're not sure, give us a call or shoot us an email, We'd be happy to talk about your specific situation!

What You Need to Know About Closing Your Minneapolis Home

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

There's one question that I get all the time from both buyers and sellers:How can we best prepare for closing? How can you make sure that everything is taken care of?

Basically, it's like being a Boy Scout: Prepare in advance. Your real estate agent will manage all the different vendors involved in a typical real estate transaction, including mortgage brokers, home inspectors, and more.

One thing you can do to prepare for closing is make a final walk-through of the property. If you're a seller, make sure the property is the way you want to leave it. If you're a buyer, make sure the property is the way you want it to be.

Another step to prepare is to review your closing documents in advance. Today, that means reviewing the Housing and Urban Development (HUD) statement. You can get this two or three days in advance of the closing, and your agent should be able to walk you through everything on that document.

As always, if you have any questions, give us a call or send us an email. We look forward to hearing from you!

Tips to Sell Your Home for Top Dollar

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

 Today I'd like to go over some things that you should consider if you're about to list your home for sale, especially if you're trying to find the most accurate price possible.

You have to think of your home as a product when you sell it, so you have to figure out how to attract these buyers to your product.

A lot of people think they can overprice their home and then come back down on the price if they don't get any offers, but this is a risky move. You run the risk of alienating yourself from buyers because they simply don't respond well to overpriced homes.

You need to price your home at market value, and to do so, you need to look at area comparable sales. Take a look at pending sales and see what homes are selling for.

Remember the three P's of selling: promotion, position, and pricing. When you price your home correctly, you put yourself in a good position to get multiple buyers interested, which can result in a very high selling price.

There are a number of different things you can do to price your home attractively in order to bring in the largest amount of buyers possible.

If you would like assistance buying or selling in Minneapolis, please don't hesitate to contact me!

What Should You Consider When Pricing Your Home Before Listing?

Looking to buy or sell a Los Angeles or Minneapolis area home? Click here to perform a full home search in Los Angeles, or click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - Minneapolis: 612-294-0447 or 
Beverly Hills: 424-239-6519 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'd like to go over some things that you should consider if you're about to list your home for sale, especially if you're trying to find the most accurate price possible. You have to think of your home as a product when you sell it, so you have to figure out how to attract these buyers to your product.

A lot of people think they can overprice their home and then come back down on the price if they don't get any offers, but this is a risky move. You run the risk of alienating yourself from buyers because they simply don't respond well to overpriced homes.

You need to price your home at market value, and to do so, you need to look at area comparable sales. Take a look at pending sales and see what homes are selling for.

Remember the three P's of selling: promotion, position, and pricing. When you price your home correctly, you put yourself in a good position to get multiple buyers interested, which can result in a very high selling price.

There are a number of different things you can do to price your home attractively in order to bring in the largest amount of buyers possible.

If you would like assistance buying or selling in Minneapolis, please don't hesitate to contact me!

What Home Renovation Projects Get the Highest Return?

Looking to buy or sell a Minneapolis area home? Click here to perform a full home search in Minneapolis. If you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - 612-294-0447 for a FREE home buying or selling consultation to answer any of your real estate questions.

Recently, someone asked what types of repairs and renovations one should do if they plan on selling. Do you want to do a big project when preparing your home for the market? Which projects will add the most value? This is a great topic, and one I'll try to answer today.

I've found that all home buyers want a home that is move-in ready and that has updated kitchens and bathrooms. So, if you're thinking of tackling a renovation project, there are ways to determine what will get you the biggest bang for your buck. The first thing we recommend is to get in touch with a real estate professional so that they can put you in touch with the contacts they have in interior design, staging, and general contracting.

There are a number of things that are extremely cost effective and a number of items you may want to do just to get your home sold. There are things you can spend $10K to $50K on and get double the rate of return if done right. If you have the wherewithal to get through a big project, you may be able to benefit greatly. As with any renovation or repair project, there is always an opportunity cost to consider, especially when you think about the time involved in such things.

We can help you consider the pros and cons of any project to help you decide what will be in your best interest. Give us a call or shoot us an email if you need our help with this or any other real estate topic. We would love to help!

Where Can You Find the Most Accurate Valuation?

There are many great Minneapolis and Beverly Hills homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us - Minneapolis: 612-294-0447 or 
Beverly Hills: 424-239-6519 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today we are going to talk about the different ways you can get a valuation for your home, and which are the most accurate and trustworthy. 

There are a few different ways you can get the value of your home, with the main three being tax assessed value, market value, and appraisal value. They are each done in different regards and have different meanings. Let's go through them now.

Tax assessed value is where the local tax assessor will assign a value to your home, usually by driving by the property and using comparable sales data available on public record. It is loosely defined as a way to gain value, but no way to figure out data in real time. This is the weakest valuation method in terms of real numbers.

The second value is your appraised value. You get this by having an appraiser from the bank come out and compare your property with other similar properties in the area. Based on what those homes sold for, they will give you an amount that they feel comfortable with lending on the property, and that is your appraised value.

Finally, we have the valuation method that is most common for home sellers, market value. This is associated with a real estate agent, who will take properties that are similar in cost and conditions, and break down the sales data. With market value, it always comes down to the three P's: price, product, and promotion.

If you have any questions for us about how to get an accurate value for your home, please feel free to reach out. We would be more than happy to help you out!

What's the Difference Between an Inspection and an Appraisal?

There are many great Minneapolis and Beverly Hills homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 612-876-9012 for a FREE home buying or selling consultation to answer any of your real estate questions. 

I had a fantastic conversation recently with an inspector, and he mentioned to me that one of the most common questions he gets has to do with people confused about the difference between a home inspection and a home appraisal. Today we are going to explain the difference between the two, so you know exactly what's going on. 

A home inspection is a review of the physical condition of your property. It allows you to itemize all the things wrong with your home, so you can pick and choose what you want to address before the sale becomes final. Inspectors always find numerous minor problems with any home, but what's important is keeping your big-ticket items in working order. The windows, roof, mechanical, electrical, appliances, and foundation are all checked by a professional, walking through the home for several hours to find any problem that could be a potential issue or area of concern.

An appraisal is done more for financial concerns. It will take your property, compare it to others like it in the area, and then quote the differences, whether it be something the home does have, or doesn't. They also take a look at the overall square footage and the number of bedrooms before they make a decision. 

That's a basic look at the differences between the two. If you have any further questions on this topic or anything else real estate related, feel free to give us a call or send us an email. We look forward to speaking with you!

How Do Real Estate Commissions Work?

There are many great Minneapolis area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 612-876-9012 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey everyone, today I am going to answer a question I got recently from a client. They were trying to sell their home with the help of an agent, but they were confused about how commissions work in the real estate business, and what kind of commission a good agent charges. Today I am going to answer that question.

There are a variety of ways that this question can be answered. Since the answer varies by market, I will break it down for you.

Here in Minneapolis, most agents work strictly off of a percentage, while others work on a flat fee or retainer, based on their marketing expenses.
 
Most agents are going to work with the primary portion of their payment based on the commission percentages of sales prices. So  whatever the sale price is, a percentage of that will go to the agent. This percentage can range anywhere from 4-10%, based on the agent's experience and track record. The better the agent, the higher the percentage they will likely take.

Personally, I work off of a commission of 6 or 7%. So if I'm getting paid 7%, typically half (3.5%) will go to the buying side and the other 3.5% will go to the listing agent. Within that percentage, the agent will potentially pay for marketing, brokerage costs, labor, payroll issues, taxes, running their business, and profiting from running that organization.

If you have any questions on how commissions work, I'd love to give you the details. Just give me a call or send me a quick email.

Is One Seasonal Market Better than the Other?

There are many great Minneapolis area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 612-876-9012 for a FREE home buying or selling consultation to answer any of your real estate questions.

Welcome back, and a Happy New Year to you all. Recently, I was asked what the difference is between the spring/summer real estate market and the fall/winter market. Some tend to think that the spring/summer market is better because of increased activity, but that's not always the case. There are a lot of differences between the two markets, but each has its own unique benefits for sellers. One isn't better than the other, but they are different.

In a summer or spring market, you have more activity, with more buyers and sellers in the market. Most of this is due to weather and scholastic differences. It's much easier to go out to look at homes on a nice day, and families have more time in the summer, when the kids are out of school. There are a ton of buyers in this market, but also a ton of sellers.

A winter or fall market has its own advantages. Although buyers aren't as numerous, they are very serious and looking to pull the trigger if the right home comes along. You don't have the number of window shoppers you see in the summer market, and you are also able to use comparative market data and valuation info on homes from the summer, which usually results in a really good price point.

As you can see, both markets have their pros and cons. If you have any questions for us, make sure to give us a call or send us an email. We would love to help you out in any way possible.