Jason Edington’s Blog

The time to sell depends on your current situation.  The golden rule: location, location, and you guessed it… LOCATION.  If the economy in your area is slow to return, so is  the real estate market.  This doesn’t mean  a decline in value, just far fewer qualified buyers searching in your area.    In an area such as my market area, the economy is supported by two Universities.  This strong economic backing keeps the real estate market stable even when surrounding trends tend a slight decline.   The value  remains, but the marketing time has increased.    The same cannot be said for folks who are forced to sell due to relocation or unemployment.   Time is not on your side.    Time and Price go hand and hand.    If you are attempting to sell your home in a hurry, then be prepared  to offerincentives or reduce your price to be competitive.   The best way to insure your success is to contact a REALTOR in your area.  Just remember that all real estate agents differ.  Do not choose the agent that cuts their fee simply to get your business.  These type of  agents claim that all  ”REALTORS” offer the same thing.  REALTORS are in the Marketing business not sales.  The REALTOR you choose should be one that is honest in their market analysis and offer advise without the pressure to sign.  Ask the agent what services they offer?  How do they plan to market your real estate (Other than MLS).   If am confident in my marketing plan and should you.  After-all, it is a partnership.

If you are in need of selling your home in order to relocate or downsize in the next year, do not make the mistake of thinking you completely understand this market.   The market changes by the month.   You need to speak with a real estate professional that you trust and will offer you the best advice, even if it means they will not make any money from your decision.   Most sellers do not want to hear the negatives.   Sometimes, waiting to sell your home is the best decision.   Other times, an auction is the better solution.   Regardless, pricing your home to sell is the best way.   I find that many folks are chasing the market by starting at a price that is above the œMarket and then reducing later to what was the suggested list price.   The solution is simple:   If you are going to have to swallow a frog, you don™t nibble on it “ you swallow it whole!

I  hear from people daily that REALTORS are to blame for the recent mortgage crisis.   Our job is simple, we market real estate for sellers and/or  locate properties for buyers.   I remember several times stating  that it just doesn’t seem right for buyers  to purchase a home and receive funds at closing or there fees paid for.   I recall the lender calling certain appraisers because they would have a better chance in coming up with the value they needed to complete the transaction.   I felt that I failed my clients (SELLER)  by not  marketing the home high enough.    I was marketing the home at $89,983 and the appraiser was coming in at $100,500.   At the time, sellers didn’t mind because they wanted to sell and the buyer got the loan.   I grilled  some appraisers in our area only to find that they agreed with me.   They  were pressured by the mortgage company to be more liberal.   The appraisers noticed their business declining when they were conservative (Accurate).   Hm-mm…. Well, I know who to blame.    I must point out that not  all mortgage brokers/lenders  would  do this.    You can still find  them doing business as normal.   The others are  now out of the business.   My theory is that they are now working  with debt consolidation companies.   I know this:  It is not  buyers fault, after all, it’s  like taking a kid into a candy store.    This is why  I would instruct every person  to do business with someone  you can look at versus online or by phone.    Doing business based on relationships and not transactional!    

Most REALTORS, and for sale by owners feel that you market real estate by putting an ad in the paper, a sign in the yard, then pray someone will buy it.

The professional calls this a yard-sale mentality.

If this were truly marketing there would be no need in  Giorgio Armani to place a full page spread in GQ or other magazines.

When the real estate market is hot, the yard sale mentality may get you by, if getting by is all you want.

Other real estate professionals will use the Multiple Listing Service (MLS) as a way to attract additional buyers.   This helps to get by in a slower market when there are fewer buyers.   MLS, Yard Signs, and Newspaper Ads do give more exposure and if location, location, location is what places value on Real Estate, then exposure, exposure, exposure is what sells real estate.

Cutting commissions is another way some real estate professionals obtain listings.   Do you think the company is actually going to spend more money and time marketing your property and cut their professional fee at the same time?   Do you think the buyer even cares?   The old saying is true; you get what you pay for.

Your real estate professional and their company need to have a marketing strategy and plan to expose your property to as many prospects as is possible.   This could include national advertising, a good and far reaching web-site that works with other good and far reaching web-sites, a nationwide toll free phone number, and any other tools to give you the added exposure.

When selling property the right question to ask isn’t “What is your commission”, but what is your marketing plan for my property, and what do you do for your commission?

Now more than ever, the right questions and its answer can mean many dollars more in your pocket.   That’s  the purpose of marketing in the first place.

Welcome to Jason Edington’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Arkadelphia, Bismarck, Glenwood, Amity, Kirby, Murfreesboro, Friendship, Caddo Valley, Sparkman, and surrounding areas.