Eeny, Meeny, Miney, Mo...Choosing a Realtor to Sell My Home!

Realtors are a dime a dozen. How do you choose one?  Throw darts at the photos of all the local agents advertised in Sunday's newspaper?...Use Google to search through the 3000+ results when "real estate agent Central NJ" is typed in your search bar? My answer: personal recommendations or referrals from friends and colleagues is always the best. However, if that's not possible, use some of the criteria listed below to help you choose:


Knowledge of Area- Consider an agent who knows the area, is knowledgeable, and can provide accurate comps for the area. Has that agent personally been inside those sold homes in order to compare your home to those? How would he/she be able to give you an accurate market value estimate if not?


Personality Type- Some people are "numbers" people. Other folks are "people" people. Do you want a real estate agent who is more fact-oriented and analytical, or one with whom you can connect on an emotional level? Personality fit can be important since your Realtor may be someone with whom you are working for (hopefully not) quite awhile.


Staging Recommendations-Your agent should also be able to give you ideas about how to stage your home. Do you have too much stuff? What are some inexpensive ways to make your home more attractive to potential buyers? And even if you've already moved out of the home, virtual staging can make online photos look like you still live there! Check out http://virtualstagingsolutions.com/gallery/ as an example of how to stage an empty house.

Business Plan/Calendar- A good agent should provide you with a business plan and calendar of events. If possible, you should receive this prior to your agent coming over to discuss listing your home. It is important to know not only what an agent will do to market your home, but also when he/she will do it too.

Marketing Plan- Your agent should have a very specific marketing plan for your home including the following:

• Signage- Does your agent use a cheap, metal sign or an eye catching sign hanging from a nice sturdy post with his/her contact information on it for passers by?
• Postcards, doorhangers- These should be mailed to your target buyers and placed on doors throughout your neighborhood. 
• Flyers, community, township and school information- These should be professional looking pieces of information left out on the counter or a table for buyers to pick up during showings.
• Unique website- Will your agent create a website that is just for your home, such as www.123MainStreet.com ?
• Other websites- Ask your agent how many websites your home will be featured on. At my company, once a listing is input into the MLS (multiple listing service) it populates to over 200 other websites including www.realtor.com,  www.trulia.com, and www.zillow.com . Ask how many photos your home will have on Realtor.com (there can be up to 35), since many agents just put 1 or 2 photos and not much of a description at all!
• Photos/virtual tour- Pictures should be professional looking and show off your home's great features. Your home should also appear spacious and inviting.
• Open houses- Is he/she willing to do an open house? Not all agents want to spend their Sunday afternoons sitting around your house. It statistically isn't the way most houses get sold, but it does help generate some interest in your home.

Designations- Designations show that your agent has taken the time to go above and beyond, and learn more about a specific group of people. These could be seniors (SRES), buyers (ABR), or people who might have to do a short sale in order to sell their home (SFR).


Length of Time in Business- How long has he/she been in real estate, and/or how many transactions has he/she completed? With each transaction brings more experience and knowledge. There are so many different things to learn in this industry, from dealing with septic systems, to replacing aluminum wiring,  to what happens if my house doesn't appraise high enough? Agents need to be competent problem solvers, and if they don't know the answer, he/she should be able to find out!


Above and Beyond- What are some ways this agent has gone above and beyond to sell a home? For example, I have personally moved heavy furniture, taken down "a million" pictures and spackled over the nail holes, and trimmed hedges to help sell homes.


Communication- This is the most important thing to consider when choosing a real estate agent! It goes without saying that when buying and selling a home, communication is key! This includes regular feedback - before and after showings. Or communication about why there have been no showings lately. Your agent should ask which method of communication your prefer...email, phone call, or text and let you know how often you can expect him/her to contact you.


Finally, since I did say that recommendations are key, feel free to visit my website at www.anne-marietustin.com for my personal recommendations. Now, have fun searching for that agent!

Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

So You Want to Sell Your Home! Now What?

Since last week's post talked about how the spring real estate market has already started, I thought it made sense for this week's post to discuss what to do to get your home ready to sell! There are some things to take care of before you've even given any thought to having an agent list your home. Here goes...


Put Yourself In the Buyer's Shoes- First you need to pretend that you are a potential buyer for your home. It is also  helpful to know what type of buyer might be looking for a home like yours. Do you think a family with young children would be interested in your home? Or perhaps empty nesters looking to downsize?


Do you think your home appeals to whichever group you picked? If not, what can you do to make it more appealing? For example, my home has a finished basement which would be great for a family with children to play in. But if all that's down there are storage boxes, suitcases and things of that nature, it might be difficult for a buyer to visualize my basement's full potential.


Consider Staging- This is where "staging" comes into play. Now often when people think of staging, they think of professionals, and thus, an expensive endeavor. That doesn't necessarily have to be the case. If you are interested in professional staging, check out http://www.showhomesprinceton.com And where there are instances when professional staging is helpful, often this can be a "do-it-yourself" process.


In my basement example, the first thing I would have to do is to move the boxes and other items to the unfinished part of my basement. Then I would set up the small indoor soccer goals that I have and put a nerf soccer ball down there. I would also put the big bin of blocks and LEGOS in one corner of the basement, and maybe a table and couple of chairs or bean bags. The whole point is to make someone else's children want to play down there!


Begin the De-Personalization Process- You likely still live in your home and you want it to feel comfortable to you, but that doesn't mean there should be dozens of pictures on each wall, and the kids' artwork all over the place. Be selective. A buyer has trouble picturing himself/herself in a home with so many pictures of you! But that being said, your home should appear cozy, inviting, and by no means sterile. I have been in homes before where it's difficult to tell whether or not anyone even lives there!


Tackling That Clutter- One of the most important things to deal with is clutter. You want your home to appear spacious and well cared-for. If your kitchen counters are full of dishes, appliances, etc. it will appear as if you don't have much counter space. So put as many items as you can in cabinets or your pantry. Also, rooms can appear larger depending on the way the furniture is arranged. Perhaps you can get rid of excess furniture, especially if it is hindering the flow of traffic in your home.


First Impressions Count- You want the curb appeal of your home to be favorable. The outside of your house and front door are the first thing buyers will see. Does the grass need mowing? Yard need raking? Are there toys out all over the lawn? Consider getting a new front door mat just to spruce things up. If it gets closer to spring, buy some pansies and put them in planters near the front door.


Do Some Things, But Not Too Much- Speaking of buying items for the house, often small, inexpensive items like new dish towels or indoor plants can make a big difference. Put out a few seasonal or holiday decorations. Do all your lights have light bulbs that work? Is your house at least relatively clean? Things that are obviously broken should be fixed, but don't go crazy updating your home. It's usually not worth the money and your new buyer I'm sure will want to come in and do his/her own updating!


Next time I will discuss choosing an agent to list your house. In the meantime, if you have any real estate-related questions, please contact me!


Anne-Marie Tustin
Realtor Associate in NJ & PA
Keller Williams Realty
Princeton NJ
(609) 987-8889 office
(609) 575-8801 direct
atustin@kw.com
www.Anne-MarieTustin.com

Yes, the Spring Market has Already Started!

Yes, I know, just a little over a week ago there was 8 inches of snow on the ground in Central NJ, and some of last week's high temperatures didn't make it even close to 20 degrees. But I would like to argue that even though the calendar says it is winter, the "spring" real estate market has, in fact, already started.

Everybody knows the spring market is pretty much THE hottest time of year for real estate. But many people think this hot market certainly couldn't start any sooner than the Superbowl. Or maybe not even until after Easter/Passover or spring break. There are a few that even think it begins in late April or May, when in fact it actually begins after the New Year!  

                                                                                            
Think about it.. we are pretty much sick of food and eating so much, there is no more holiday shopping to do, and all the relatives have left to go back home. What's left for buyers to do now but start looking for a new home?! That being said, if you are thinking of listing your home for sale during the spring market, now is the time to start thinking about it, because the buyers are getting ready! And you know that people who brave the harsh winter elements and are out looking at homes instead of watching football must be serious about buying!

According to TReND Multiple Listing Service, 396 homes were listed for sale in Mercer County in January 2013. 209 homes sold 90 days later, since average days on the market hovers around 2 1/2 to 3 months. This is a pretty high number! So, if you can list your home sooner rather than later, you will have less competition! And if you're not quite ready, most sales do actually occur between June and August since many buyers with school aged children are looking to move in the summer before the new school year begins. So there is still hope!

Now getting a home ready for sale is not an instantaneous process.. it takes awhile.. even several weeks sometimes. My next blog will list steps you should take before that first potential buyer walks through your front door, so stay tuned!






Anne-Marie Tustin, MBA, ABR
Sales Associate NJ & PA, Keller Williams Realty
100 Canal Pointe Blvd, #120, Princeton, NJ 08540
609.987.8889 Office
609.575.8801 Direct
atustin@kw.com
www.Anne-MarieTustin.com

New Year, New Home! Steps in the Home Buying Process

It's that time of year again! Many people make New Year's resolutions.. to lose weight, stop smoking, travel more...the list goes on.... According to TReND Multiple Listing Service (MLS) over 3000 homes were bought last year in Mercer County, and if one of your resolutions is to move in 2014, especially if you are a first time homebuyer, you my be unclear about the steps involved in purchasing a home. If you fall into this category, read on!

Step 1) Get Preapproved for a Mortgage: Really, before you start looking for homes, you first need to find out how much loan you can qualify for. In fact, several months before you start looking into financing, you should check your credit report (for free up to 3 times per year) at www.annualcreditreport.com . Do you have any collection items that need to be cleared up? Too many open credit cards? These are all things important to know, especially since many times credit bureaus have incorrect information that you will need to resolve before moving forward. And this can take several months. Once you are satisfied with your credit report, look into financing options with 3 or so different lenders. If you are not sure, your agent will recommend some for you. Of course, it is not often wise to purchase the maximum home you can afford, but it is important to know what your lending limit is regardless.

Step 2) Begin Searching for Homes: According to the National Association of Realtors, over 90% of home buyers begin their home search process online. There are 100s of real estate search sites out there, including www.Realtor.com, www.Trulia.com, and www.Zillow.com.  Pick one, and begin with your basic criteria in terms of location, price range and number of bedrooms and bathrooms. For the most up-to-date information, your agent can send you links to listings through the MLS, because often other websites are simply not current... often showing a home as still being for sale, when it is actually under contract with another buyer. Do you really want to be wasting your time looking at someone else's future home?

Step 3) View Houses with a Local Real Estate Agent: Many people think, "Why do I need to use an agent? I can just call the listing agent for a particular home that I'm interested in." Well, I am here to tell you why that is NOT a good idea. First, it would be a conflict of interest. Listing agents have a fiduciary duty to their sellers to obtain the best possible price, terms and conditions for their home. It doesn't make sense that they would have a buyer's best interests in mind as well. Second, it is simply easier for one agent, who has access to all available listings, to show you all the houses you are interested in, rather than you contacting several agents. Also you establish more of a relationship and your buyer's agent works in your best interest.

Step 4) Negotiate an Offer: Your real estate agent will help you put in a reasonable offer based on comparable sales in the area. The offer will include your offer price (not necessarily your highest and best offer), financing information, inspection and closing dates, and any other special conditions. You will be in the strongest position if you do not currently have a house to sell, and you put down a small ($1000 or so) good faith deposit, to be held in escrow usually by the buyer's attorney. You will also need to submit your mortgage preapproval. Again, if you do not have an attorney, your agent can recommend a few for you to choose from. Negotiations may go back and forth a few times, and there can even be multiple offers on homes at once! This situation can require a special strategy.. more on that in a future blog post.

Step 5) Attorney Review Period Occurs: Once your offer has been accepted, your agent will get the contract and deposit check to your attorney. And no, you don't have to use an attorney, but it is strongly recommended (costing between $600-$1000). The attorneys on each side routinely disapprove of certain aspects of the contract, and make changes in wording. Once both the buyer and seller agree to any changes, the contract will be finalized and the 2nd deposit, often 5-10% of the purchase price is deposited into the escrow account. Now the fun really begins!

Step 6) Complete Home Inspection: Usually you have between 7 and 14 days after attorney review to schedule a home inspection and request any repairs or credits from the seller as a result of the report. Inspections are worth the cost, usually between $400-$600, and are paid for by the buyer. A good inspector will look for basic plumbing and electric issues, check out the major appliances including furnace and the roof, and even look for signs of termites and test for radon. Your agent will have a list of qualified home inspectors in the area. It may be tempting to ask for the seller to fix everything that is wrong with the house, but it is often best to focus primarily on safety hazards.

Step 7) Lender Will Have Home Appraised: You will need to be in contact with your lender to get the mortgage ball rolling. During this time, the lender will be working hard on your loan, and part of this process is having a home appraiser appraise the home. There will also be title work to be done, surveys to complete and home owner's insurance to obtain (as it gets closer to closing). Usually there is a clause in the contract stating that if the house appraises for less than the contract price, the buyer can back out of the deal with all deposit monies refunded, or the purchase price can be re-negotiated. Eventually, if all goes well, the lender will issue a mortgage commitment saying you are good to go with getting your loan!

Step 8) Contact Utility Companies: The last thing you want is to move into your new home and find out the seller closed out their electric and gas account, and now your house is cold and dark! If you are not sure, your agent can provide you with the names and phone numbers of the local power and gas company, as well as phone and cable companies for the area. You can switch the utilities over in your name before closing. Often township public records get automatically updated for water and sewer changes.

Step 9) Schedule Your Walk-Through Inspection: You are all excited to move into your new home, then find out the seller has left a bunch of furniture in the house. Or maybe the rug that was in the dining room had been covering up some damage to the hardwood floors. Did the seller fix everything he said he was going to? This is why the buyer and his/her agent will give the home the "once over" before closing... to address any last issues that need to be taken care of, make sure appliances work, faucets aren't leaking, etc.

Step 10) Go to Closing, Sign Documents & Get Your Keys: Closings are usually held at the office of the buyer's attorney. It is here that you will need to prove your identity, bring money for any additional down payment and closing costs, and sign your life away (kidding)! No, seriously, there are numerous documents to sign with your lender, title company representative, and/or attorney. But once it's all over, you can collect your keys and you are ready to enjoy your new home! And if you have a nice enough real estate agent, they just might give you a nice house warming gift too!

So, what are you waiting for? There's a lot to do in this process and the spring market will be here before we know it! Happy House Hunting!

Anne-Marie Tustin, MBA, ABR
Sales Associate NJ & PA, Keller Williams Realty
100 Canal Pointe Blvd, #120, Princeton, NJ 08540
609.987.8889 Office
609.575.8801 Direct
atustin@kw.com
www.Anne-MarieTustin.com