Lately, we (realtors) have the unenviable task of being the bearers of bad news. It seems more than ever we are having conversations with people about what the market is telling us regarding the price of their home, or we are talking to sellers about lowering the price of their property. As expected and given the recession, rarely is it good or welcomed news. I know that a lot of home owners believe that there is a course in real estate school wherein the first thing an agent is taught is to recite the following sentence, “We need to lower the price.” Trust us, that is the last conversation we want to have with any client. It’s not fun for us and it’s not fun for you, but to use a cliché, “It is what it is!”
It’s important to keep in mind that one of our main jobs is to decipher and interpret the market data. These days, the data is fairly well encrypted and a good agent will be able to pinpoint where the buyers are, how many, what they are buying, why and how you can stay ahead of the curve. We find too many people who are trying to chase the market down. This is bad strategy and you know what I mean. “I’ll start a little higher than what the agent suggested because I can always come down.” That’s chasing the market down and a buyer can see that strategy from a mile away. Buyers today are so smart and savvy, it’s unlikely that you are going to outwit or out strategize them. They have done their home work, have seen dozens of properties, and know exactly what they can buy for their money. It means that they know the market better than you do.
The number one phrase of out every buyer’s mouth these days is “I want a deal.” Forget the days of “Does the home fit their needs or do they like it?” because that’s out the window. It’s all about the deal, so sellers get ahead of the curve. Be significantly better priced than all of your competition. Make it so that when a buyer walks in, the first words out their mouth is “Wow this is a value.”
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Sunday, June 28, 2009
Monday, June 22, 2009
Sunday, June 21, 2009
Communication & Expectations, By Dan Polimino
Without a doubt, communication and expectations are two of the biggest problems we have in real estate today. By no means does real estate corner the market on a lack of communication or failure to manage expectations, but these are two topics that seem to come up a lot in conversations.
There are two types of sellers out there. The first type wants to be clued in on every step that the realtor makes including all marketing pieces, emails, phone calls, and discussions. The second type is very bottom line oriented who tells the realtor to go and do his or her thing and to call them when there is an offer.
Long ago, I started asking my sellers on how clued in they wanted to be. If they wanted it, I would send them a report each week, telling them what I did including the when, where, and how. If they just wanted the highlights, I would simply check in with them once or twice each month. Or they didn’t have to hear from me at all.
No matter what type of seller you are, I think it’s important for realtors to establish what type of communication the seller wants or needs. This, naturally is called managing expectations.
On the topic of expectations, I found out that more and more sellers have one vision of what the seller/agent relationship will look like while the agent has a completely different idea. The best example of this is marketing. Sellers have in mind as to what the agents should be doing to market their homes. This continues to be a point of friction between sellers and agents. Agents know what is working in marketing and that game plan may not be in sync with what the sellers have in mind. Agents may also be working behind the scenes on the internet, working the phones, communicating with their sphere, and following up leads. This is all marketing, but doesn’t show up on a printed page for the seller to see.
It’s important for agents to tell sellers exactly what they are going to do, to put it in writing, and then follow up with the sellers to show that it’s been done. This is managing an expectation, and you can’t do that without communication.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
There are two types of sellers out there. The first type wants to be clued in on every step that the realtor makes including all marketing pieces, emails, phone calls, and discussions. The second type is very bottom line oriented who tells the realtor to go and do his or her thing and to call them when there is an offer.
Long ago, I started asking my sellers on how clued in they wanted to be. If they wanted it, I would send them a report each week, telling them what I did including the when, where, and how. If they just wanted the highlights, I would simply check in with them once or twice each month. Or they didn’t have to hear from me at all.
No matter what type of seller you are, I think it’s important for realtors to establish what type of communication the seller wants or needs. This, naturally is called managing expectations.
On the topic of expectations, I found out that more and more sellers have one vision of what the seller/agent relationship will look like while the agent has a completely different idea. The best example of this is marketing. Sellers have in mind as to what the agents should be doing to market their homes. This continues to be a point of friction between sellers and agents. Agents know what is working in marketing and that game plan may not be in sync with what the sellers have in mind. Agents may also be working behind the scenes on the internet, working the phones, communicating with their sphere, and following up leads. This is all marketing, but doesn’t show up on a printed page for the seller to see.
It’s important for agents to tell sellers exactly what they are going to do, to put it in writing, and then follow up with the sellers to show that it’s been done. This is managing an expectation, and you can’t do that without communication.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Friday, June 19, 2009
6773 W Princeton Place Denver, CO 80235
This stunning home features a blend of contemporary convenience and just the right amount of European touches artfully crafted into more than 6,000 square feet. Sitting on 3.3 acres, this 5 bedroom, 5 bathroom masterpiece is surrounded by sumptuous greenery and is a 5-minute stroll to Pinehurst Country Club and Colorado Academy. Exemplified by its 3-car garage and classic stucco finish, this entire property is the perfect execution of functional elegance.
6773 W Princeton Place Denver, CO 80235
This stunning home features a blend of contemporary convenience and just the right amount of European touches artfully crafted into more than 6,000 square feet. Sitting on 3.3 acres, this 5 bedroom, 5 bathroom masterpiece is surrounded by sumptuous greenery and is a 5-minute stroll to Pinehurst Country Club and Colorado Academy. Exemplified by its 3-car garage and classic stucco finish, this entire property is the perfect execution of functional elegance.
Monday, June 15, 2009
Integrity, By Dan Polimino
The story goes like this: A friends of mine who is a mortgage lender was really upset and was having a horrible week when I called. It turns out that he got involved in a loan transaction for some questionable people (both the buyer and real estate agent). Now, what he knew and when he knew it is not germane to the story, but the bottom line is that my friend took all the blame when things went bad even though he was not at fault and was out significant time and money.
I seem to hear one story after another about those who have gotten involved with questionable people. It’s not just in the real estate business as it crosses all occupations and income levels. That got me thinking that maybe, the very best thing that we can do for ourselves in these economic times is to make sure that we are doing business with people of exemplary character. It’s easy these days to work with people who have the best price. It’s desirable to hire people who are top producers or have significant name recognition. It’s even easier to go with the person that tells you exactly what you want to hear.
Now, the older I get, the more I am convinced that out of all the attributes listed above, integrity trumps them all. Sure, it’s possible to find a service provider at a reasonable price that is famous and exudes integrity, but let’s be honest that it seems as though that this kind of person is a dying breed. I am constantly looking for that person or organization that breeds integrity. You know what I am talking about: people who do what they say they are going to do on the day they say they are going to do it. These are people who are not afraid of the words “work,” “responsibility,” and “whatever it takes to get the job done.” I am talking about the type of integrity that breeds dependability, peace of mind, confidence, honesty, and one that strengthens your faith in your fellow man. These are people who care enough to return your phone calls and reply to your emails on the same day.
When I find those types of people, they have my undying loyalty, respect, and my business. They should have yours too.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
I seem to hear one story after another about those who have gotten involved with questionable people. It’s not just in the real estate business as it crosses all occupations and income levels. That got me thinking that maybe, the very best thing that we can do for ourselves in these economic times is to make sure that we are doing business with people of exemplary character. It’s easy these days to work with people who have the best price. It’s desirable to hire people who are top producers or have significant name recognition. It’s even easier to go with the person that tells you exactly what you want to hear.
Now, the older I get, the more I am convinced that out of all the attributes listed above, integrity trumps them all. Sure, it’s possible to find a service provider at a reasonable price that is famous and exudes integrity, but let’s be honest that it seems as though that this kind of person is a dying breed. I am constantly looking for that person or organization that breeds integrity. You know what I am talking about: people who do what they say they are going to do on the day they say they are going to do it. These are people who are not afraid of the words “work,” “responsibility,” and “whatever it takes to get the job done.” I am talking about the type of integrity that breeds dependability, peace of mind, confidence, honesty, and one that strengthens your faith in your fellow man. These are people who care enough to return your phone calls and reply to your emails on the same day.
When I find those types of people, they have my undying loyalty, respect, and my business. They should have yours too.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Wednesday, June 10, 2009
Tuesday, June 9, 2009
Moving In To Make Ends Meet, By Dan Polimino
Last week, I wrote a column about the human toll of foreclosure. Not exactly an upbeat story, but one that needed to be told. This week is a feel good story about the never say die attitude of Americans and how coming together as a family may just be the answer to difficult economic times.
It was in April when I was watching a news story on a cable network channel about an immigrant father who purchased his first new home well into his latter working years. He bought it at the peak or at the top of the housing boom. His kids were older; one was still living at home while the others all had jobs and places of their own.
Surprise, Surprise, Dad lost his job and could not find work. He fell behind in his mortgage payment and was in danger of losing the first and only new home he ever had. This is the good part of the story. His kids immediately came to their parents’ rescue. All three kids that were living outside the home voluntarily gave up their apartments to move back in with their parents. This is not something a mid 20’s young person wants to do when they are at the peak of launching their personal and professional life. They did it because they wanted to help their parents keep the house. They did it to chip in and pay the mortgage. They did it because they realized that they were stronger as a group than individually on their own. They did it because they could pool their resources and cut expenses. They did it because family means something.
Kudos to the kids, you are to be congratulated for your kindness, compassion and willingness to give back to the parents who gave it all for you. The take away lesson here is simple: maybe families should consider moving in together again. Maybe you can rent out the basement or a spare bedroom that you are not using. This model makes a lot of sense to help people get through tough times until things turn around again.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
It was in April when I was watching a news story on a cable network channel about an immigrant father who purchased his first new home well into his latter working years. He bought it at the peak or at the top of the housing boom. His kids were older; one was still living at home while the others all had jobs and places of their own.
Surprise, Surprise, Dad lost his job and could not find work. He fell behind in his mortgage payment and was in danger of losing the first and only new home he ever had. This is the good part of the story. His kids immediately came to their parents’ rescue. All three kids that were living outside the home voluntarily gave up their apartments to move back in with their parents. This is not something a mid 20’s young person wants to do when they are at the peak of launching their personal and professional life. They did it because they wanted to help their parents keep the house. They did it to chip in and pay the mortgage. They did it because they realized that they were stronger as a group than individually on their own. They did it because they could pool their resources and cut expenses. They did it because family means something.
Kudos to the kids, you are to be congratulated for your kindness, compassion and willingness to give back to the parents who gave it all for you. The take away lesson here is simple: maybe families should consider moving in together again. Maybe you can rent out the basement or a spare bedroom that you are not using. This model makes a lot of sense to help people get through tough times until things turn around again.
Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and www.CoDreamHouse.com
Friday, June 5, 2009
The 53 Hour Open House Luxury Tour at 2309 South Columbine Street, Denver, CO is showing up live @ http://ping.fm/YouV5
Thursday, June 4, 2009
Few hours to go for the 53 Hour Open House
Few hours to go, as we close in on a wonderful opportunity for all to kick off the summer home buying season in grand fashion at the 53 Hour Open House Luxury Tour. Make sure you join us in Observatory Park on June 5th, 6th, and 7th as we unveil six more magnificent homes for you to tour. The home at 2309 South Columbine Street in Denver, CO will remain open for 53 hours straight. You can come by and see this incredible $1.65 million, custom-built home from Brookstone Builders on Friday the 5th between noon and 5pm, Saturday the 6th between 9am and 6pm, and Sunday the 7th between 11am and 6pm.
Or you can watch the entire open house on http://ping.fm/IZ6ey site as we stream live the entire 53 hours of the event right into your living room. You can even choose which camera and room you want to view when you want it. Of course, Mercedes Benz of Littleton is back with a fleet of cars for you to test drive on site and BMW of Denver will show off their latest and hottest motorcycles. We’ll also have ATV’s, Quads, and Jet Skis for you to check out all weekend long.
The entire weekend is catered, complete with wine-tasting, so stop in and have a cocktail with us. If at any time you have questions, you can chat live with us, email a question, print a brochure, or follow us on Twitter® (http://ping.fm/9fVyY). Thank you! We look forward to meeting you in person or on the web.
Or you can watch the entire open house on http://ping.fm/IZ6ey site as we stream live the entire 53 hours of the event right into your living room. You can even choose which camera and room you want to view when you want it. Of course, Mercedes Benz of Littleton is back with a fleet of cars for you to test drive on site and BMW of Denver will show off their latest and hottest motorcycles. We’ll also have ATV’s, Quads, and Jet Skis for you to check out all weekend long.
The entire weekend is catered, complete with wine-tasting, so stop in and have a cocktail with us. If at any time you have questions, you can chat live with us, email a question, print a brochure, or follow us on Twitter® (http://ping.fm/9fVyY). Thank you! We look forward to meeting you in person or on the web.
Tuesday, June 2, 2009
53 Hour Open House Luxury Tour is back
Over 400 people came to the 53 Hour Open House Luxury Tour in Heritage Estates on April 3rd, 4th, and 5th and another 1500 people watched it online. One of the six homes in the tour was sold.
So what do we do for an encore? The 53 Hour Open House Luxury Tour will kick off the summer home buying season in grand fashion by giving you a chance to walk away with A BRAND NEW 2009 MERCEDES BENZ 550 S SEDAN. You read that correctly! As far as we can tell, no one in Denver has ever tried to give away a car before at an open house and certainly not a brand new Mercedes Benz.
Make sure you join us in Observatory Park on June 5th, 6th, and 7th as we unveil six more magnificent homes for you to tour. The home at 2309 South Columbine Street in Denver, CO is our next 53 Hour Open House and will remain open for 53 hours straight. You can come by and see this incredible $1.65 million, custom-built home from Brookstone Builders on Friday the 5th between noon and 5pm, Saturday the 6th between 9am and 6pm, and Sunday the 7th between 11am and 6pm.
Or you can watch the entire open house right here on this web site as we stream live the entire 53 hours of the event right into your living room. You can even choose which camera and room you want to view when you want it. Of course, Mercedes Benz of Littleton is back with a fleet of cars for you to test drive on site and BMW of Denver will show off their latest and hottest motorcycles. We’ll also have ATV’s, Quads, and Jet Skis for you to check out all weekend long.
The entire weekend is catered, complete with wine-tasting, so stop in and have a cocktail with us. If at any time you have questions, you can chat live with us, email a question, print a brochure, or follow us on Twitter®. Thank you! We look forward to meeting you in person or on the web.
For more details visit http://ping.fm/MCyeX
So what do we do for an encore? The 53 Hour Open House Luxury Tour will kick off the summer home buying season in grand fashion by giving you a chance to walk away with A BRAND NEW 2009 MERCEDES BENZ 550 S SEDAN. You read that correctly! As far as we can tell, no one in Denver has ever tried to give away a car before at an open house and certainly not a brand new Mercedes Benz.
Make sure you join us in Observatory Park on June 5th, 6th, and 7th as we unveil six more magnificent homes for you to tour. The home at 2309 South Columbine Street in Denver, CO is our next 53 Hour Open House and will remain open for 53 hours straight. You can come by and see this incredible $1.65 million, custom-built home from Brookstone Builders on Friday the 5th between noon and 5pm, Saturday the 6th between 9am and 6pm, and Sunday the 7th between 11am and 6pm.
Or you can watch the entire open house right here on this web site as we stream live the entire 53 hours of the event right into your living room. You can even choose which camera and room you want to view when you want it. Of course, Mercedes Benz of Littleton is back with a fleet of cars for you to test drive on site and BMW of Denver will show off their latest and hottest motorcycles. We’ll also have ATV’s, Quads, and Jet Skis for you to check out all weekend long.
The entire weekend is catered, complete with wine-tasting, so stop in and have a cocktail with us. If at any time you have questions, you can chat live with us, email a question, print a brochure, or follow us on Twitter®. Thank you! We look forward to meeting you in person or on the web.
For more details visit http://ping.fm/MCyeX
Monday, June 1, 2009
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