Tuesday Tidbits: Sell Your Buyer

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Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a now bi-weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

Intangibles Matter

More often than not, the highest bid for a home will be the one that a seller ends up choosing. However, that’s not always the case. If your buyer isn’t willing or able to top the other offers, there are other ways to win the bid.

How to Help Sell Your Buyer

Money talks, but there are plenty of examples of sellers choosing a lower offer, and the reasons they do so vary greatly. Sometimes there are extenuating circumstances with the specifics of the offer. Sometimes the seller would rather see the house maintained as opposed to demolished and rebuilt. Sometimes they simply don’t like the individuals who made the highest offer.

The point is sometimes it’s going to all be about the money, but other times, you can tip the scales in your favor without upping the offer.

  1. Don’t be a ruthless negotiator: You want to get the best deal for your client, but sometimes pushing for that extra perk can break the deal. “Don’t nitpick over items that are insubstantial, like a torn window screen or a $50 valve on a hot water heater. This will anger a seller more than anything.”
  2. Make a personal appeal: Sometimes a seller doesn’t want their home going to an investor or somebody who’s going to destroy the house, and instead wants to sell to somebody who will take good care of it. If your buyer feels a personal connection to a home, it can be a good idea to write the seller a heartfelt letter.
  3. Each seller is different: Some sellers are trying to get out as quickly as possible, others need time to find a new home. Learn what’s important to the sellers, then appeal to that. “The more flexible a buyer can be on closing and possession, the more likely they’ll be able to negotiate a lower price. They’re giving the seller peace of mind and the comfort of not having to rush out.”

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Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

Tuesday Tidbits: First-Time Homebuyer Tips

Posted by & filed under Tuesday Tidbits.

Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

First-Time Buyers Beware!

Buying a home for the first time is exciting, but it’s also scary. The possibilities are endless, but so are the mistakes. Make sure your client doesn’t ruin their new investment with one of these common mistakes.

Your Buyers Just Got Their New Home! Now What?

There are a million different things a homeowner can do to hurt the value of his or her home, and some of those mistakes will inevitably be made at one point or another. But we’d like to provide you with a list of some common mistakes that you can pass onto your clients in hopes that they can save themselves some trouble. There are additional tips at the link provided at the bottom of this email.

Note: This list pairs nicely with our Tuesday Tidbits from August about what to do when moving into a new home. You can find that list here.

  1. Go easy on the bleach: Bleach is a fine cleaning product for certain things, but it can also have devastating long-term effects on grout, laminate and linoleum. A better option? Simple water and vinegar.
  2. Avoid the ivy: Ivy growing on the brick walls can be an elegant touch for a home. But here’s the thing: “Anything that climbs on the house will damage it.” Tell your buyers to leave the plants on the ground and off the home, the gutters and drain pipes will thank you.
  3. Don’t over-mulch: When you’ve finally got your own house, you want to make it stand out, but going overboard on the mulch can actually suffocate the plants.
  4. Keep the firewood away from the house: This is an all-too common mistake. Make sure your buyers aren’t stacking the wood for their new fireplace against the wall, otherwise they might be inviting a bunch of new pets into their home — but termites don’t make very good pets.

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Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

Tuesday Tidbits: Social Media Strategy

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*Tuesday Tidbits is back this week after a one-week hiatus, which was used to focus on TOPA. If you missed all the TOPA updates, check out our wrapup of the hearing here.*

Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

The Power of Social Media

You’re probably on Facebook, or Instagram, or Twitter, or Pinterest, or maybe some combination of the four, or possibly others. Maybe you use those platforms for personal reasons, or maybe you post some of your listings there. But you could (and should) be using social media for so much more, and it can be a major tool for your business.

Social Media as a Real Estate Tool

The numbers are incredible: 700 billion minutes are spent on Facebook each month, and one billion tweets are posted each week. So how can you stand out in that crowd, and do so in a way that positively promotes your business?

For starters, mix up your posts! If your entire digital advertising strategy is simply posting your listings, you’re only going to appeal to people looking to purchase a home at that moment. That’s only a fraction of your potential customer base!

In addition to posting listings, add in some facts about the market as it currently stands. We offer two market reports each month on our website, and you can find plenty of useful information to share there.

You can also share periodic tips for buyers and/or sellers. Some of our Tuesday Tidbits would work well for this (here’s an example of one that would work), and there are countless resources available through NAR.

The most important thing is to make sure you’re giving everybody in your audience a reason to pay attention to what you post.

“If a REALTOR® really wants to engage followers, they need to post less about listings and become a true local area resource,” says one survey respondent. “If clients see them as an expert, their sphere of influence will grow.”

For more tips on how to turn social media into a tool for your business, check out the link below.

There are so many apps these days, it’s an exercise in futility trying to keep up with them all. However, it’s important to make sure you don’t get left behind, and many of these apps are definitely worth knowing about.

READ MORE

Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

TOPA Hearing Wrapup

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The historic DC Council hearing on TOPA reform was yesterday, and what a day it was! Nearly 200 people showed up and more than two dozen people took the stand in front of the Committee on Housing and Neighborhood Revitalization, all to support fixing TOPA.

Councilmember Anita Bonds, who chairs the Housing Committee, was shocked by the size of the crowd and was forced to ask a number of attendees to wait outside, as the room was over capacity.

The hearing got started with a bang, as Council Chairman Phil Mendelson used his opening statements to announce his support for a full exemption from TOPA for all single-family homes. That was more than anybody bargained for, and the crowd responded by giving the Chairman a standing ovation. Chairman Mendelson pointed out several problems with TOPA as it currently stands, which he states would not be resolved by the proposed legislation.

Councilmember Robert White also was not thrilled with the state of TOPA, expressing his skepticism toward the legislation as it currently stands.

All in all, it was a massive success, and we couldn’t be much happier with how the day went. NBC Washington was there to cover the hearing — you can watch their story here.

Thanks to all who showed up in support, and an extra special thank you to Councilmember Bonds. Without her, this hearing never would have been possible.

See the photos

September 21st TOPA Hearing

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For years, the District of Columbia Association of REALTORS® and real estate professionals around DC have struggled with the flaws in the current TOPA legislation. Now, we finally have a chance to get it fixed.

The DC Council is holding an historic hearing on proposed changes to TOPA on Thursday, Sept. 21st. We encourage all REALTORS® and interested parties to join us in Room 500 of the Wilson Building (map) that Thursday at 10 a.m.

To help make it easier for you to attend, we’re sending buses to four locations around DC. Those buses will pick volunteers up and drive them down to the Wilson Building. Once the hearing is over at 1 p.m., those buses will take volunteers from the Wilson Building back to their initial pickup spots.

Additionally, we’ll provide coffee in the morning, then lunch at the Wilson Building before you leave.

To reserve a spot on a bus, click here.

If you have any questions, please contact advocacy@dcrealtors.org.

Tuesday Tidbits: Essential Apps

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Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

Technology in Real Estate

We have long since reached the point where a smartphone is an absolute necessity to advance in the world of real estate, especially in a modern city such as DC, and that’s just the tip of the iceberg.

A REALTOR® must be able to check his/her email, schedule appointments, access maps and directions, and all other basic elements of today’s world at a moment’s notice.

But there’s so much more than that. Here’s a sampling.

The Appsolutely Must-Haves

You should have your email client and a good calendar service on your phone by now, and you should definitely have your favorite navigation tool (Google Maps or Waze are among the most common). But those are mainstays among the average smartphone user.

NAR’s REALTOR® Property Resource (RPR) has compiled a list of 14 less-common apps that every real estate professional should be familiar with. Some of them are specific to real estate, others are just generally useful tools that will absolutely come in handy.

All of the apps noted here are available to both Apple and Android users, though there are exceptions in the full list.

  • DocuSign: You should absolutely have DocuSign by now, but if you don’t, it’s the preferred method of electronic signatures in a wide variety of industries.
  • Cloze: Cloze syncs your emails, contacts, calendar and to-do lists to create an inclusive agenda for a given day. It’s perfect for the many of you who are swamped with emails and tasks.
  • Expensify: This app tracks the money you spend on the job, making tax season much less dreadful. It even tracks the miles you drive and the money you spend on gas!
  • Matterport: Virtual reality is one of the biggest trends across media these days, and not many realms can utilize it more effectively than real estate. Matterport is your key into that world.
  • Magicplan: Few things in real estate are more vital than a floorplan, and Magicplan lets you create one from your phone.

There are so many apps these days, it’s an exercise in futility trying to keep up with them all. However, it’s important to make sure you don’t get left behind, and many of these apps are definitely worth knowing about.

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Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

Tuesday Tidbits: Impact of Pets

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Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

Importance of Pets

Whether you’re a dog person or a cat person (or maybe a lizard person?), there’s a pretty good chance you’re a pet person. Most people are. According to a recent survey, roughly 80 million households in the US have a pet, and more than 40% of those households have multiple pets.

So when it comes time to buy or sell a home, it’s crucial to remember the furry (or scaly) creatures that also share the living space.

How a Pet Fits in a Home

So how do we take that knowledge and translate it into useful information? Consider the ways each aspect of a home or neighborhood can help or hinder a pet and its owner.

Here are some things to take into account when buying or selling a home, courtesy of an NAR profile on animal impact on homes, whether there are pets involved or not. Because after all, even if there aren’t any pets in the equation now, there very well might be pets involved down the line.

  • 95% of consumers believe it’s important that a housing community allows animals, and 89% wouldn’t give up their pet due to housing restrictions or limitations. Make sure to check if there are any restrictions on animals or breeds in the neighborhood or building.
  • More than 50% of consumers want to be near a walking path, nearly 50% want to be near a pet store, and 38% look for proximity to a dog park. Do some quick research to find the nearest of each — it could be a deal-maker or a deal-breaker.
  • According to REALTORS®, 92% of city/urban buyers with pets consider having a fenced yard important, 72% find laminate flooring important.
  • About 50% of consumers completed home renovations to accommodate their pet. The most common renovations: building a fenced yard (23%), adding a dog door (12%), and installing laminate flooring (10%). If a home is missing any of these features, do some research to see how difficult and expensive it would be to add them.

There are plenty of other useful pieces of information in the guide linked below, but the key takeaway here is to not forget about the animals. After all, 99% of animal owners consider their pet to be part of their family.

And that includes REALTORS®! About 80% of REALTORS® consider themselves animal lovers, nearly 70% have a pet of their own, and 12% volunteer for an organization that helps animals.

Don’t forget: Your home is their home, too.

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Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

A Message to Our Friends and Colleagues in Texas

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DCAR Members,

This is Colin Johnson, the 2017 DCAR president. I’m reaching out to you today to express my concern and condolences for those suffering in and around the Houston area this week. This catastrophe is not only an unspeakable tragedy, but also a time for us to unify and show our humanity, not just as REALTORS®, but as people.

There are two things I ask you to do, both of which can help people who are facing complete devastation.

First, the REALTOR® Relief Foundation is accepting donations that will go toward helping the victims of Hurricane Harvey. I strongly encourage you to donate anything you can spare, as every dollar can help save a life. You can donate to the REALTOR® Relief Foundation here.

Second, we need to remember this tragedy doesn’t go away with the water. The victims of Hurricane Harvey have a long, difficult journey ahead of them, just as victims of Hurricane Katrina are still recovering. Lives are uprooted, property is destroyed and income disappears.

Certain things can never be replaced, chief among those being the lives that are tragically taken in the storm and subsequent flooding. But for the millions of people whose lives have been impacted by this disaster, the least we can do is help provide a speedy road to recovery.

With the National Flood Insurance Program (NFIP) set to expire at the end of September, we could witness countless individuals and families left helpless, or homeless. Only about 27% of the costs incurred by this storm are expected to be covered by private insurance, due to the significant flooding Harvey is responsible for, per CBS News. For comparison, about 42% of costs incurred by Hurricane Katrina were covered by private insurance.

Without the NFIP, homeowners and residents will be forced to pay these tremendous costs, which will only increase over time, on their own. But with the safety net of the NFIP, those who have seen their entire existence completely altered by a single storm can at least receive some aid at a time in which they’ve never needed it more.

I urge you to help get the NFIP renewed by clicking here. This is a program that can help restore lives, something millions of people need now more than ever.
Thank you for your time.

Sincerely,

Colin Johnson
2017 DCAR President

Tuesday Tidbits: Home Staging Tips

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Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

Staging a Home

Staging a home is one of the best tools for selling a home, and it’s hard to overstate the value of it, when done properly. Per NAR’s Profile of Home Staging, 29% of sellers’ agents reported a 1-5% increase in dollar value offered by buyers, and 21% reported a 6-10% increase.

Ways to Make a Home More Appealing

HouseLogic, a site created by the National Association of REALTORS®, compiled a whopping 81 tips for staging a home. The list is broken up by room, so you can find all the kitchen staging tips you need at any given point, then come back when you’re done for the living room tips. We’ve picked out one tip per room, but head over to HouseLogic (link below) for all the others, and be sure to check out the rest of the site for other helpful tips.

  1. Living room: Help buyers imagine their life in your home. Set the scene by displaying a board game or tea service on the coffee table, and arrange furniture in conversational groups.
  2. Kitchen: Empty all trash cans and move them out of sight.
  3. Bedrooms: Consider giving extra bedrooms a new identity as a home office, sewing room or another interesting function.
  4. Dining room: Let buyers entertain the idea of entertaining. Set out some chic place settings around the table, or a few wine glasses and a decanter on the buffet.
  5. Bathrooms: Take a daring sniff of the drains. Odorous? Clean them out, and deodorize with baking soda, boiling water or vinegar.
  6. Walls, windows and more: Have a dark corner or hallway? Brighten it up with a decorative mirror.

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Help us help you!

Have an idea for a Tuesday Tidbits subject? Looking for help on a particular topic? Send an email to bfrantz@dcrealtors.org with your input and you might see it in a future Tuesday Tidbits email.

The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.

Tuesday Tidbits: Moving Into a New Home

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Here at DCAR, we want to make your jobs easier. That’s why we’ve started up our Tuesday Tidbits series, a weekly email that will provide you with a useful, relevant piece of information that will hopefully come in handy as you work. If you missed any of the previous editions, those are archived here.

Much of the information we use in these emails comes from the National Association of REALTORS® resources RealtorMag and HouseLogic. We encourage you to browse through their content for other useful tips.

Moving into a New Home

Moving into a new home can be overwhelming, and it’s easy to lose track of the many tasks at hand. Some things can be made up once everything is settled, but other tasks must be handled immediately. It’s a good idea to keep this information handy for both you and your clients.

What to Do When You First Move In

HouseLogic, a site created by the National Association of REALTORS®, came up with a handy checklist of the most important tasks a homeowner must take care of upon moving into a new home. Check out the link below for more information on each of these tasks, and be sure to check out the rest of the site for other helpful tips.

  1. Change the locks. You might have the only set of keys to your new home, or perhaps there are other pairs floating around. Either way, get those locks changed.
  2. Check for plumbing leaks. Home inspectors are supposed to take care of this, but you never know what they might have missed, and you don’t want to find out the hard way.
  3. Steam clean the carpets. This is an easy one to put off, but the best time to do it is before you move in the furniture for the first time.
  4. Wipe out the cabinets. You hope the previous owners did this before they moved out, but you should do it yourself in case they only gave it a once-over.
  5. Rid yourself of pests. Even if you don’t see any bugs or rodents upon moving in, there might be some lurking about. Better safe than sorry, as few things ruin the luster of a new home as much as an infestation.
  6. Find the circuit breaker and main water valve. With any luck, you won’t need to use either of these any time soon. But if you do, you’ll want to know where they are and how they work.

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The information expressed herein is intended to serve as a general resource guide for the members of the District of Columbia Association of REALTORS® and is subject to change. While the District of Columbia Association of REALTORS® strives to make the information in this email as timely and accurate as possible, the Association makes no claims or guarantees about the accuracy or completeness of the contents, and expressly disclaims liability for any errors and omissions. This information should not be taken as legal counsel.