Deb Espinoza's Real Estate BLOG

Types of Listings

There are several different types of listing contracts, but very few of them are used. The "Exclusive Right to Sell" is the most common, but there is the "open listing," the "exclusive agency listing," and the "one-time show."

Open Listing

The "open listing" is mostly used by people trying to sell their home by owner who are also willing to work with real estate agents. Basically, it gives a real estate agent the right to bring buyers around to view your home. If their client buys your home, the agent earns a commission. There is nothing exclusive about an open listing and a home seller can give out such listings to every agent who comes around.

For that reason, no agent who accepts an open listing is going to market your home or put it in the Multiple Listing Service. If your home fits the criteria for one of their clients, and it is convenient, they may be willing to show it to their client.

That is all an "open listing" is good for.

One-Time Show

A "one-time show" is similar to an open listing in many respects, as it is most often used by real estate agents who are showing a FSBO

(for sale by owner) to one of their clients. The home seller signs the agreement, which identifies the potential buyer and guarantees the agent a commission should that buyer purchase the home. This prevents the buyer and seller from negotiating directly later and trying to avoid paying the agent’s commiss

ion.

As with an open listing, agents will not be spending money on marketing your home and it will not be placed in the Multiple Listing System.

For more information on the best way to list your home contact Deb Espinoza at Stage Presence Homes at 619.913.7783.

For Sellers who want to get a good offer quickly on their home there are 5 things that will stand out to buyers that you will want to address BEFORE you list your home:

1. Garage door- Unfortunately builders have not figured out that this isn't the most attractive part of a home and they continue to put the garage in the center stage spot of a home. For this reason the garage door can make or break your curb appeal. If its an old wood one, or a twisted smashed in metal one, replace it. If it's just dirty then you may want to replace the top panel with the window panels and put a coat of paint on it. There are some new "faux' painters out there that can make your garage door look amazing for a few hundred bucks. Also clean the grease stains of the driveway and if there is severe cracking you may want to resurface or replace the driveway as well.
2. Windows- Most buyers want a well insulated home and this includes new vinyl windows. For less than $300 each you can put retrofit vinyl windows in, they also look much better from the exterior than the old aluminum frame windows.
3. Flooring- Carpets should be clean and stretched properly, without any lumping. Tiles and grout can be professionally cleaned by your local carpet guy with a special machine that makes the floor look brand new. After it's cleaned put a coat of sealer on to keep the grout in top condition. Buyers DO NOT want a flooring allowance, and your idea of an allowance won't be theirs. Put the new carpet in before you list your home. It will also be a benefit to replace baseboards with a new, wider style. The little details can make a difference.
4. Exterior paint- The exterior of your home should be clean and fresh. If painting or a new stucco 'fog coat' isn't affordable then get a good power wash and at least freshen up the trim with a fresh coat of paint. A new coat of paint on your front door along with new door handles and locks and porch light shows as a welcome site when prospective buyers walk up.
5. Bathrooms and kitchen- These are very important rooms to buyers. If you can't afford a full rehab to bring them up to date then give them a good, professional cleaning and replace fixtures. You may also want to replace lighting if your bathrooms have the 'hollywood' style strip of round ball lights above or around your mirrors or if your fixtures are the old gold brassy look.

If you are looking to list your San Diego home, call Deb at Stage Presence Homes to come out and give you some ideas on how to make your house stand out and sell quickly for the highest price. You only get one chance to make a first impression! Stage Presence Homes Real Estate

What’s my house worth? Market Value is a constantly moving target. The ups, and mostly downs, of the economy make setting the right asking price for your home an almost elusive art form. However, there is hope.

If there are not many comparable homes near yours that have sold in the past six month then it may make finding the right price for your home difficult. Comparable items commonly used to price a home are things like; location, square footage, amenities, and condition. That being said, you won't have much chance of getting a premium price on a cookie-cutter condo if identical units have sold for less.

There are reasons not to set your asking price too high. Here are three:

• Time management. Real-estate agents — yours and the buyers' — might not want to waste time with a home that's unlikely to sell. Though a higher price means a bigger commission, agents might figure they can move two or three homes in the time it would take to sell yours.
• Buyers beware. Buyers who like your house but pass on your property because of the price might find something else and close a deal before you drop your asking price to a level they'd accept.
• Money matters. Even if you get your full asking price, the time it takes to get it may cause you to miss out on the house you want to buy. You might have to settle for something that's not as suitable or end up spending more than you had planned.

Here’s how to avoid the over pricing mistake:

• Shop for an agent who is familiar with your community and comes with good references. Do your research - check out their sites, look for testimonials, ask about their credentials.
• Drive around to look at the comparable homes used to set your asking price, and look for others if necessary. Make sure the house's curb appeal matches yours. Keep in mind that a computer that shows comparable sales isn't likely to know that your home has a new kitchen and the others don't.
• Know your numbers.  A good agent will have a sense of how many buyers are looking. If you’re not getting your share, it's a sign you are reaching on the asking price. If dropping your price is inevitable, it's better to do it sooner rather than later.