Friday, March 22, 2019

KornTeam Marketing Plan

KornTeam Marketing Plan
to get our seller clients the most exposure possible when selling

I had an out of town client asking about our marketing plan, and after I typed up this response, I thought it would be good to share.

What type of marketing will you do and what is the value for the commission I am paying?

We take the extra step to make sure our clients properties get maximum exposure, and stay in front of the buyers more often, and longer.

Attached is a sample brochure we create with the report cover and slide bar so the buyers will pick this up at the property and take it home with them. It is not a flyer or stapled sheet that just gets folded up and forgotten or left on the floor board of their car This will get inside their house and lay around in the kitchen for a few more days.

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This is just one example of something no one else does. I have never seen a "take home brochure" like this in my 29 years of selling.... and we put them in every property.

Also, we take over 300 photos and use them to get you higher rankings online. Our MLS now allows 99 photos. The internet search engines LOVE to see a lot of complete data. We fill in every possible field with information to get you the most exposure possible. Again, most agents, over 1/2, do not put in square footage and abour 1/3rd do not fill in elementary, middle or high school info. These are two very important items for a just about every buyer.

                                           Bad Photos                           Good Photos
Bad Listing, Didn't use all the photos, Didn't fill in Sq Footage

So, if we use all 99 photos, and fill in sq ftg, schools, and very complete data, you will be on the first screen of someone's search that matches this house. In fact, you could be a 96% match, and you would show up on their screen before a property that is 100% match, but the agent only uploaded 25 photos, or no photos at all, and didn't fill in sq ftg, etc.

The other best marketing idea of all, to ensure every agent will show the property is to offer a slightly  higher commission over what most agents will charge. By charging a fee that most agents charge (by the way, there is no set commission rate. All commissions are different and negotiable from agent to agent) your property is "in with the mix" We know by offering a slightly higher commission, it can make your property stand out more, because it is different. We have tracked this closely, and where the KC market is getting about 95%-96% of list price, we are getting 98.8% of list price (on over 800 listings sold), so we know we are getting our clients 2-3% higher prices for that extra rate. We use our extra amount to pay for more exposure and marketing in up front costs, mostly in enhanced listings online, however we also use reflective yard signs to get 24/7 marketing of our properties, the brochures and more.

This is just the tip of the iceberg for the marketing things we do. 

The Korn Team
(816) 224-KORN (5676)

You can inquire about a personalized marketing strategy for your property to see if these type of marketing items will generate you thousands more in equity.

Thursday, June 21, 2018

How Well Do YOU Know the Market?

A key to our success in real estate has been to effectively describe what is REALLY happening in the current market conditions, and helping our clients position themselves to get the most equity possible when selling, and if they are buying (especially in a hot market)  to know what value the market is bearing for a property so they don't end up paying too much.

I get the call many times from clients and the people they refer to us is that they saw a property (typically a for sale by owner) that just dropped their price $20,000 and they are calling me to find out if that is a good deal. First of all, if a price drops that much, it was probably WAY over priced in the first place and a big drop like that still might not have them in the current "market value" based on what buyers are currently paying for similar properties.

The experience of selling over 2,500 properties gives me the insight so many agents don't understand. I can actually "SEE" what is really happening in the market and give my seller clients the best advice to get then next buyer that buys. You see, every buyer you miss is a possible buyer, and you may have just helped your competition sell their house. In fact, many sellers are losing their buyer and the opportunity to get the most equity possible when they overprice their property. While they are overpriced, the seller who started out overpriced has dropped their price several times, and is now price correctly... so they steal the next buyer. Now the overpriced seller has to wait for the next buyer. We don't know when that next buyer is coming, AND the buyers are still only going to pay fair market value. If it takes overpriced listings to drop their price to the right price to sell, then there will always be "right priced" properties in the market and the overpriced properties will soon drop the price enough to get a buyer and steal that buyer from the next, new overpriced listing.

One key element to our success and helping our clients get the most equity possible AND make sure they don't underprice their property is to accurately evaluate the market before we put the For Sale sign in the yard. Once we determine what the property will most likely sell for (based on all of the current 'SOLD' activity for similar properties in their area) we position ourselves to be the most competitive property on the market. That, by the way, doesn't mean the cheapest.. and we don't want to be the most expensive either.

Once we determine the best position to HIT THE MARKET and we go live, then we need to watch real time activity to determine if we hit the market at the right spot. I want to share a perfect example of what an experience agent can provide a client to be their real estate specialist and help interpret the market to get the most equity possible.

This is a sample of a market review I just sent to a seller today. We analyzed the market. The market is definitely a hot market at the time I did this review, and I was able to predict that we would probably have about a dozen people through the property in the first week. Even in this HOT market, we have had the most traffic over any of our competition, and as of the day I printed this report, we had not gotten an offer from anyone. Reviewing the market and making strategic moves that make sense is how we get our clients more equity. In this particular case, we now know the seller is not leaving any money on the table. In fact, one price adjustment will most likely result in a sale sign in their front yard.

How well do you know the market? How well does your real estate agent know the market? Do you have friends or family that chose the wrong agent, and really didn't know what was going on?

There is no time that should be wasted "giving this agent a try" and if they haven't truly analyzed the market and they are pulling numbers out of thin air.. it is time to get a real estate professional that can open your understanding of what is really happening in the market and where the best position is to get the most equity. That sometimes means we are getting ten's of thousand's more than we would have thought. It is all about "supply" and "demand".

Take a look at the type of information we provide our clients to understand the market better than most real estate agents.


Every property is different, and market conditions change from area to area, type of home to type of home, and neighborhood to neighborhood. It takes professional experience and advice to determine the best strategy for your property. You should never "take a stab at it" or "see what happens".. you can do that from time to time, however make that decision with smart, accurate information.

Contact Brad Korn before you make any decisions about buying or selling real estate. My experience of 100 sales per year and over 2,500 properties in my career puts me in the top 10% of all agents in the KC area and in the top 15% of all agents in the surrounding 7 state area.

Thursday, March 22, 2018

Why Buyers May Lose If They Don’t Act Now
Rising mortgage rates could have a big impact on the direction buyers choose when shopping for real estate, economists warn. “Every time the interest rates go up, you eliminate a group of people who can no longer afford to buy a house,” one mortgage broker told realtor.com®. “Some people may have to rent for a period of time until they make more money—or buy a smaller house.”

Contact Brad Korn, Top Realtor with The Hern Group to find out how to get qualified for your loan and ask how you can give the seller a $5,000 guarantee your offer will close on time. PLUS find out about our FREE Instant Notification Program where we can get you a list of the newest listing even before they hit the big websites. Stop missing out on homes. We sell a home every day and we know how to help you win in this market so you don't miss your window of opportunity.
To avoid further complications in their plans, buyers may want to speed up their home search this spring, as interest rates are forecasted to move higher in the coming months. Forty-four percent of home buyers say rate increases likely will force them to settle for a smaller, less expensive home that requires a longer commute to their jobs, according to a realtor.com® survey. First-time buyers may be most affected by rising costs, as increasing home prices and interest rates price some out of the market.
Mortgage rates are at their highest levels in more than four years. The 30-year fixed-rate mortgage averaged 4.46 percent last week, according to Freddie Mac, and that’s largely expected to increase since the Federal Reserve said it is likely to raise its short-term interest rates this year. That could prompt mortgage rates to move higher at least three times this year, starting this month.
For the bulk of buyers, it’s not going to kill their decision to purchase a home, if anything, it will get them off the fence by creating a sense of urgency. Higher rates are “a kick in the pants for you to start thinking seriously [about buying].”
Rate increases—even minor ones—can add up over time. Realtor.com® offers this example: On a $300,000 house with a 30-year fixed-rate mortgage and 20 percent down payment, the difference between a 4 percent and 5 percent mortgage rate is $142 a month. Calculated over the life of the loan, that is more than an extra $51,000. “Buyers thought they could wait forever because rates were going to stay low forever,” says Palacios. “They’re starting to realize that if they’re going to buy, they should probably buy now.”
Home buyers who are concerned about rising rates may want to lock in with a lender, which guarantees the current rate for a set period of time. Still, don’t let your clients linger on making a decision. It typically costs several hundred dollars to lock in a rate.
shared by Brad Korn, Realtor member from RealtorMag article on 2/22. Source: “Is It Last Call for Low Mortgage Rate? Why Home Buyers Should Act Now,” realtor.com® (March 7, 2018)

Friday, September 08, 2017

Attention all Korn Team Past Clients:

An extremely happy client and friend added our name to this list to be recognized as one of the best real estate agents in Eastern Jackson County.

The Korn Team has been selling real estate for over 25 years and has sold over 2,000 homes in Eastern Jackson County. Our clients have been winning in all kinds of market conditions with average sale prices (on over 1000 listings sold) 98% of their asking price. This is an average over good and really bad market conditions. The market average for all other agents in the KC area is around 95% of list price. We have worked hard for our clients and have an aggressive, proven marketing plan that gets our clients properties in front of more buyers, hands down.

We hope you will take a moment to vote for us! and if you really want to, you can vote every day!!! I know some Realtors are having them mother and family vote every day, however we want our clients who love what we did for them to vote for us every day. Thanks!

Go to www.examiner.net now and follow the process:
Step 1: Go to Examiner.net
Step 2: click on “Best of” logo
Step 3: click on
“Housing & Real Estate”
Step 4: click on “Best Residential
Real Estate Agent”
Step 5: click on ”VOTE -Brad Korn”
Step 6: Share this post with
your family to vote every day too


Want to find out if your property will sell fast, and with multiple offers? Call me today to get an updated market valuation. 816-224-KORN (5676) or email me at bradkorn@hernhomes.com

Saturday, July 01, 2017

Seasoned Top Real Estate Agent VS The computers!!!! Who will you trust?

I want to tell you a Real Estate Story.....

What is really happening in the market? Consumers may not be getting a true picture of what is really happening.

People believe the market is HOT and properties are selling with multiple offers, over asking price and getting offers in just hours of being on the market. The reality is, we are in a very unstable, yet strong market.

I sell an average of 100 homes each year and just last month sold 13 properties! Not because the market is crazy... because that is a normal month. The reason many people think the market is crazy is because most real estate agents (about 80-90% of the them) sell 1-2 properties each month. So, think about your own job. If you only did what you do best 1-2 times per month vs 10-20 times every day, how great would you be? I talk to sellers every day, and I am surprised the common conversation other agents have with Sellers is "how much do you want to get? GREAT! this is a crazy market....and we can always come down if we need to". Selling a home every few days has given me and my clients a more realistic view of what is really happening.

There is a very specific strategy behind every property that goes up for sale. You want to position properly so you get the most equity possible. You want to price high enough that you don't leave money on the table, but you don't want to price so high, you miss the buyers that would look at your property.

Top real estate agents, like myself, that successfully get our clients top dollar understand the good 'ol Econ 101 rules of "Supply & Demand". When you understand where your particular style of home, amenities and neighborhood activity is, then and only then, can you come up with a strategy to beat the current market conditions.

Understanding the market does not come from a computer generated value... or an appraiser's opinion on the value you they give your home. Those do not show what the buyers are willing to do in your area and how they are buying in the current market conditions. In this day an age of technology and the so called "big boy" websites, Sellers are getting mixed information. Unfortunately all too many of them are underpricing or overpricing their property when they try to sell.

I am using this property as an example because it really helps understand how even a few thousand dollars off in value can mean a lot to someone. Real estate should not be a guessing game. There is enough hard data to make sure you price a property correctly for the market.

In the following examples it is amazing how the property values can be so different from each other. They are all big sites, yet prices are all across the board. There is a $17,457 difference between the lowest bid and the highest bid. that is 24% of the value of the property! Would you really trust any sources that were different by 1/4th of the total value of the property?

That difference is a LOT of money for someone that owns a $60-70k price. I will show the true "supply and demand" after you review the so called "best sites to see what my house is worth". The reality is this owner paid $72,600 in 2005. The reality after selling over 1,000 homes in the past 10 years in this down market, and selling over 1,500 homes prior to that since 1991, is that in the KC area, our values did not really drop (for this price range of home) from 2006 to today. That may vary in some areas and price ranges, but for the most part my extensive experience in selling and closing that many homes is that most properties will sell close to what they were bought for if a seller bought from 2006 to 2016. Now, today, the supply and demand is a little off for some areas, and seller's can capitalize and maybe sell for more. Also keep in mind if someone bought a short sale or foreclosure, they gained their equity the day they bought the property. I just helped a young home owner sell his first property and it was a foreclosure he bought for the $70k range, and we sold it in this competitive market for the $130k range with multiple offers... because there is absolutely NOTHING under $130k for sale in that area.





So what might this home really sell for in this market? If we look at the supply and demand, we can determine what the current competition is, and what the current buyers are really paying for properties like this.

Neighborhood activity for the past 6 months ranges from $24k to $103k. There are only 2 properties for sale, and 14 that have sold in the past 6 months. The lowest sale price was $35,000 yet, an agent has listed a property for $24,950. That is $10k lower than the lowest price in the past 6 months. That seller may have been able to make several thousand more with a better strategy. In fact, a few thousand dollars on a property in this price range is a BIG deal! Maybe they could have put $5k in this property and made $10k more... those are the things computers can't tell you.

Similar properties to this particular property have really been selling between $52k-$56k. This shows what 4 actual buyers have paid and closed on in the neighborhood in the past 18 months. If you look at the entire area (city limits and school district), it tells a very different story. The 2 cheapest homes you can even buy in the entire area are $52k and $59,900 and the other 14 properties that are still for sale right now are mostly in the 70k-80k price range... so there is no way I would suggest pricing this property under $60k. If we do the right things to the property and it is an average home, we should be able to price this property at about $75,000 and we will get the same amount of showings if we priced in the $55k range. Part of our success strategy is showing our sellers where the buyers are actually looking at properties.

In this particular report, there are as many showings at 75k as there are at 55k. There are quite a few less showings in the other price ranges, AND there are only 2 homes even priced in the 55k range right now, so those properties are selling as fast as they hit the market, and their real estate agent may have been able to push the price a little to get more.


What many sellers do not understand is the value is not set by you (or your real estate agent). The value of your home is already determined by the active buyers that are currently looking for homes like yours. In fact, if they don't come look at your home, then you are not priced correctly. They drove by, or saw your home on a list either on their computer or from printouts they had. If you positioned your property incorrectly and overpriced it, what you really have done is help sell one of your competitors properties. You may not even think of the other houses as "competition" because you know your property is better. Right? Wrong! Once a buyer makes an offer on another property, you don't get them back. In fact, they probably only move once every 5-7 years, so that buyer is gone forever! You don't get a second chance. If you really want to get top dollar, you need a strategy that makes you more competitive than your current competition. That doesn't mean you have to sell for less, it just means you have to evaluate the current supply and see what the demand has been and come up with a strategy to get the most money possible.

The old real estate saying says there are 3 things that sell property. 1) Price 2) Condition and 3)Location

You can't change your location. Your value on that is already set. You can change the condition however many sellers are being advised to do massive upgrades to get their property sold. In most cases, they may spend $10k, $40k or more updating, and even though they may get more for their property before the upgrade, it is very seldom the amount they spent to do the upgrade. For example, someone spends $20k updating to granite in kitchen and other things. They may actually get $5k more for the house... maybe even get lucky and get $10k.. but they did not get $20k or $40k in most cases. So in essence, they left equity, real dollars on the table. In that same example, if they had priced their house $10k less than the price before they did the upgrades, they would have actually netted $10k more than spending $20k to get $10k higher sale price.

This is why we say, the agent you chose matters.

Look at some real numbers you may not have heard.

In the first six months of 2017 (which is supposed to be some crazy hot sellers market) look at these statistics.

EXPIRED: There were 244 properties that Expired, or did not sell in the first 6 months of the year. In fact, Looking at the full year of 2016, there were over 3,500 properties that tried to sell, and did not sell during their first 6 months on the market.



CANCELLED: There were 1,209 sellers that cancelled their listing agreement with the real estate agent they hired. That is over 100 sellers each month in the Greater KC area that did not get their property sold, and missed buyer opportunities and left equity on the table.



WITHDRAWN: There were 200 sellers that just took their house off the market in the first 6 months of 2017. Most probably took their house off the market because they were not getting showings, or they think they need to do more upgrades because they positioned themselves incorrectly in the market or got bad feedback for the condition of their property.



Selling your home and capitalizing on the current market conditions to maximize your equity and/or profit from the sale of your home is no easy task. It takes experience of selling thousands of homes to know how to truly "read the market" and interpret the market conditions to help our clients take advantage of the current supply and demand.

Contact me if you would like more information about how to interpret current market conditions for your property. bradkornrealtor@gmail.com or 816-224-KORN (5676).