Tip Jar: Open House Anarchy. A Top Philadelphia Realtor Manifesto!
Open Houses. I have a love hate relationship with them. Love them when the Real Estate Market is HOT. Not so much when the Real Estate Market is not. Hosting a successful Open House in a slower market takes some creativity and admittedly a touch of anarchy. It has nothing to do with tooling amateur explosives, hacking government computers all whilst listening to the Sex Pistols (I will never admit to that!). Though, in this video I do talk about what I did differently at a recent Open House. Going against what I have been taught. Complete lawlessness! Rejecting the lessons of Brian Buffini. I proclaim Open House Anarchy! Here is my video and here is my Open House Manifesto:
1) No sign in sheet. Don't force "them" to give you a fictitious name and email like: Ronald@McDonalds.com or hahaha@lalala.com. Remember, you are a complete stranger! Would you give your personal email address to someone you did not know?
2) Don't print out the MLS sheet! Have a self branded color brochure with NO PRICE. The visitors will inevitably ask you about the price and other details. Then the ball is in your court. The door is open and they are ready to engage with you. Contrary to popular belief, anarchists are extremely giving. Give information generously.
3) Don't follow them around like a crazed stalker. True Anarchists never do this! Give them space to talk, walk, and linger at their leisure. I think they can figure out where the bathroom is and can identify a walk-in closet wen they see one. They do not need you to point out the obvious.
4) Brush up on the neighborhood and don't act like a clueless stranger. You are the neighborhood specialist, remember? There is nothing worse than your Open House visitor knowing more than you do! Identify local events happening in the neighborhood, know the best restaurants and bars, parks and cool internet cafes they might want to visit. Print out a map of the rockin' things in the area. Oh and brand all of the paperwork you give out.
5) Be ready to lead them to other Open Houses. Anarchist are leaders and are not afraid to share the love. A printed list of a variety of priced homes in the neighborhood shows you know your stuff. You care. You are on top of all Real Estate things! Your branded info and your dazzling knowledge will impress.
6) Lay your cards down on the table (literally and figuratively). Put your cards in plain view. Once you've dazzled visitors with your charming personality, knowledge of the neighborhood, chatted about the Real Estate Market, recommended a nearby brunch spot, and related to them like a HUMAN BEING (not a robot Realtor), they will want your card and they will call you.
Like I mentioned in the video, I expected a call or two after hosting that Open House and I was right! I have appointments set up as a result of the great connections I made at my Open House. Is this how all Top Philadelphia Realtors do it? Well, perhaps not, but this one does!
Call me to sell your home!
Call me to help you buy a home!
Email or call 215-400-2620.
Tip Jar: How to Banish the 4 Letter Curse Word “MOLD”
What do the Mad Hatter and the Salem Witch Trials Have in Common?
Answer: All were created by toxins/molds.
Today's Tip Jar is about an all-too-familiar 4 Letter Curse Word: MOLD.
With Hurricane Irene behind us, coupled with the record high rainfall this year, I though it would be a good time to discuss the dreaded 4 letter curse word MOLD. Many homeowners have it. And if they didn't have it before, they could have it now. Mold counts are higher than ever post-Irene.
I am talking about that stinky, musty, nasty matter that plagues so many basements, bathrooms, and anywhere that water sits. There is growing knowledge about mold, such as its dangerous variety, toxic black mold, and more and more people are finding they have an allergy to mold spores.
So how can you stop mold in its tracks?
1) Trusty Bleach. I occasionally get some reddish color mold in my bathroom shower that I can clean with a bleach type chemical remover and voila, it is gone. That is not the best approach for larger areas that have mold and it is certainly not an environmentally friendly remedy.
2) Go Natural. In my research to destroy mold I have found three natural approaches to bleach. Tea tree oil, grapefruit seed extract, and good old vinegar. These natural remedies do a great job killing the spores.
3) Anti-bacterial Primer. If you have some residual mold on a somewhat porous area I have read that encapsulating the area by painting over it with an anti-bacterial primer such as Kilz helps a lot.
4) Call in the pros. Try a Mold Remediation Specialist for mold that is extra pesky and dangerous. In the Philadelphia area, we like Jason Morris (610-842-0338).
Why it's important. It's not just the potential health risks and general grossness of mold that matters. Buyers and sellers will want to tackle their mold problem quickly! Mold pops up on home inspections all of the time. We have had some appraisers call for the remediation of a moldy baesmement as a condition of the loan. A Mold Certification (when called for by a lender) is what we typically provide and that shows that the mold was permanently dealt with. A professional will come to the property and take samples of the air back to the laboratory for a series of tests to confirm that the area is safe.
For home sellers, I have a special tip for you: In preparing your home for showings, double check your shower curtains and the grout around your bath and shower. Mold on these surfaces make your bathroom smell less than fresh and the ugly appearance really turns prospective buyers off. And if you have a funky basement that has a water leak or has recently been flooded, it behooves you to look into professionally waterproofing the basement. A wet basement is a "deal killer" for many buyers out there!
Tip Jar: Increase Your Home’s Value!
Today's tip comes from an appraiser with 25 years of experience.
Increase your home's value and marketability! But only if it pays.
According to Jim Dougherty from James Dougherty Appraisers, "Everyone understands that if they install a new kitchen or bath, their home value will increase. But will the increased value cover or exceed the cost of the new improvement? Typically, the answer is no. Major renovations should only be completed if the homeowner plans to stay in the house for at least four years, so that they can capture the benefit/enjoyment of the upgrade. If a home has a serious defect or functional inadequacy (very old inadequate kitchen, very old inadequate bath, leaking roof, old, inadequate heater such as a coal conversion or gravity system, etc), the homeowner may want to replace that component as it will significantly increase their home’s marketability and they may even increase the value to the point that the cost to cure was offset."
Some of Dougherty's tips on how to increase the value of the home?
1. Fix the flooring. "Old, worn, soiled, or outdated flooring is a real turn off in the marketplace and a signal to a buyer that the seller may not have taken good care of the property. Often, installing new modest flooring will increase the value above the cost of the new flooring install. There are many flooring outfits, including Home Depot, that will do the install interest-free for six months."
2. Paint it yourself! "Just like beat floors, when a home has dirty walls, ceilings, and millwork, it is a turn off and a signal to a buyer that the seller did not take care of the property. Nothing has a higher cost benefit than fresh paint, assuming it is done well and completed by the homeowner. While a professional painter no doubt will do a better job than most homeowners, they will also eat up the accrued value increase."
3. Listen to us! "Lastly, people, you need to listen and heed the advice of people like Stephanie and Chris. When they ask you to tighten the hinges on some cabinets, re-paint a room, plane a door, remove clutter, etc, etc, etc, do it. In order to maximize your sale price, you need as few defects as possible."
Visit James Dougherty Appraisers for more information.
When Should I List My Property?
I have been getting this question more and more. From homeowner sellers who have been struggling to get their house sold trying to plan for the perfect time to sell, from rehabbers planning their work and builders and developers looking into future in terms of when their product will be ready, we are getting this question several times a week.
The big picture I tell folks is that the best time to sell is when YOU are ready, especially for homeowners. It is 
very difficult trying to plan the seasonality of the market. And in reality, at least in Philadelphia, the seasonality is out of whack. For example, we did not have a spring market this year. The summer has been slow. It was busier in the winter of 2010 and January and February of this year. Those folks who waited until spring of this year to list their properties made a huge mistake.
The first-time homebuyer tax credit of last year threw the market out of proportion from a seasonality standpoint. Personally, I think the market will be busier in the winter again this year. Many sellers will be taking their properties off the market and waiting until spring next year which will be a mistake again if they are interested in selling their property now falsely believing that "no one will be looking" in the winter.
For rehabbers, I recommend to get the job done as quickly as you can without compromising the project. And then getting the property on the market when it is ready. You certainly do not want to hold a property through the winter thinking that the demand is not there and have the extra carrying costs. For builders and developers, it will be a little more complex as there will be more elements that go into the equation. But strategically, there needs to be discussion with their Realtor to work together to maximize the strategic benefits and synergy of the project as well as the marketing.
Personally, I am finishing up a rehab property in Fishtown that will be going on the market around Labor Day. I am excited about it as it is a super product and will be a terrific home for some lucky buyers by the year's end!
As a Realtor, what do you say to "When Should I List My Property?"
As a property owner, what are your thoughts?
Tip Jar: Granite VS Quartz to Sell a Home
What are your thoughts on Granite vs. Quartz? Is the extra price for quartz worth it for resale?
Quartz is the newest trend that people are using for countertops. But granite is still the top choice by many. My suggestion is that if you are re-doing the kitchen and the look of the Quartz really completes the look, then use it!
An Uber-Modern kitchen may really demand the look of a solid color Quartz countertop where as a more traditional luxury kitchen may lend itself to the natural patterns and colors found in Granite. There is so much variety in both choices that the price difference should be relatively close. Dollar for dollar, there will be no return but like I mentioned above, if a solid color Quartz or a swirling multicolored and patterned Granite really pulls the look of the kitchen together, that fine aesthetic may seal the deal for a sale. People are usually emotional buyers who fall in love with as little as one or two features in a home.
Practically speaking, Granite needs slightly more care such as occasional sealing of the surface. But, that being the popular recommendation, I sealed my low cost Uba Tuba Granite counters in my kitchen only once in the last few years and they still look beautiful. Quartz does not need that extra care. Also, though Granite is not man-made it is comparatively not a more sustainable choice over Quartz. Granite is a limited resource and if you're going for a "green", sustainable kitchen countertop material, Quartz may be the way to go.
We are so fortunate to live in a country where 1) we have so many choices and 2) we are in a position to take advantage of those choices!
Related:
9 More Things People Want in a Kitchen
Tip Jar: The Element of Surprise
When the home inventory is up like it is right now in Philadelphia, sellers need to use every tool in the shed and then some to sell their home. The basic rules of selling a home are:
1) Price it right (lower than your competition)!
2) Keep your home clean, smelling fresh, and de-cluttered.
3) Make sure you have a great Realtor with aggressive marketing strategies.
4) Accommodate every showing and make it easy to show.
But these days, following the basics is sometimes not enough to sell a home. We suggest using the element of surprise to delight, entertain, and attract buyers. These ideas will certainly draw attention, create an interest and perhaps make it the most memorable home in the bunch.
So go a little crazy with us...
Host an Open House Treasure Hunt
Take 3 obscure photos from 3 different rooms in your home. Make sure the photo is abstracted by using a close-up shot. Give 3 clues. They can rhyme or be a riddle, whatever you can come up with. The potential buyer will not only walk though your home but do so with an examining eye, enjoying the game and at the same time having fun.
Tweet and Find the Red Tomato
Have your Realtor put a red tomato (or any unusual object) in one of the photos of one of the rooms in your home. Have them post a tweet that not only advertises your home for sale but invites people to play a "seek and find" game.
"Tweet and Find" your $250,000 3 bedroom 2 bath Home in Philadelphia. Find the hidden red tomato!
Give a Gift
Everyone loves to receive a gift. Make a few party favor bags and place them at the entrance of the door. Put mints, gum, or whatever you want in the bag as a parting gift thanking them for the visit. Have instructions near the gift that reads:
Welcome to our home. Make sure you look at our beautiful herb garden out back. Please take this gift as our way of thanking you for your visit and wishing you luck on your home search!
Sincerely,
The Joneses
What other ideas can you think of that could help you sell your home?
I Wish The Seller Could See This !
I Wish The Seller Could See This !
I saw a new listing pop up this morning and was once again amazed by the lack of marketing and felt
compelled to do a blog post about it. Below is the property description (including typos) for the property that is listed for $249,900 .
"llegal duplex,with large garage total rehabed."
That is it ? Love the way you start out with the positive, Mr Listing Agent. And by the way, there are no photos. You are surely earning your 3 percent with this type of marketing.
I wonder if the seller will see this ? I have a feeling probably not...
To be honest, I think this is a disgrace.
What are your thoughts ?
Tip Jar: Don’t Step Over Dollars
Don't step over dollars to pick up dimes. Particularly in this economy!
Chris was the first person who ever passed that tip on to me. A good friend of his passed that tidbit of wisdom on to him and so on and so on. Don't step over dollars to pick up dimes. It is that simple tip that we pass on to you you this week. If you have ever said "It''s not the money, it's the principle!", you have probably stepped over the dollar.
How often do we get stuck on a principle and forget the larger, more important concept? In Real Estate, we see people get tangled up over a small amount of money and forget the great deal they are getting on their purchase or sale. It happens daily. In Real Estate, counting pennies could sabotage the best opportunities.
For example, we have had clients get stuck over a small repair item and a deal fall completely apart because both the buyer and seller were focused on the pennies. Buyer walked away from a great deal on a home and seller lost an opportunity to buy their dream home with the proceeds from the sale. A lose-lose situation if I ever saw one.
While others are bending over to pick up the pennies, I am keeping my eye on the dollars! What about you? Have you picked up any dollars lately?
Tip Jar: Don’t Let the Walls Cave In on You, Paint Them!
Before:
Back to our powerful painting transformation over at 912 E Passyunk Avenue in Bella Vista.
We swapped out the red, which made the hallway appear narrow, for a widening gray. Ahh, much more spacious already!
Perhaps the most neglected part of a home is the hallway. Scuffs, poor lighting, bad paint colors all can make an already small hall space seem even smaller and claustrophobic.
- Remember, dramatic color is great for your wardrobe but not always for your walls.
- Avoid dark colors or colors with too much pigment. Avoid hanging too much artwork or oversized pieces in a small hall.
- Add accent mirrors, light paint colors, and bright lighting to open up a hallway.
After:
Related:
You Know it is Time to Paint when…
Tip Jar: A Little Green Goes a Long Way
We love neutrals, grays, and blacks just as much as most fashion-savvy folk. Even a cloudy day can be irresistibly chic.
But whenever we feel like something is missing, there's no pop or spirit in a room, on our plate, or outside a window -- we turn to green. A little green goes a long way.
1) Adding a green plant to a room can be the perfect finishing touch and will freshen the air.
2) Slipping in something green to every meal will improve your nutrition.
3) Replacing old fixtures, systems, bulbs and appliances with Energy Star rated versions will increase the value of your home and save you money on energy bills.
4) Use touches of green to make a room instantly calming...ever wonder why guests on talk shows wait in the "Green Room"?
5) Every bit that you recycle or dispose of through a garbage disposal or compost translates to less overall garbage. That means less trash to take out, less bags to buy, and less that ends up in landfills.
Got any green advice for us?
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