Tuesday, September 25, 2007

Is Feedback from Showings on my Home Important?

We notify our seller's immediately IF an agent sends feedback. Here is our updated information during a market review with one of our seller's:

"Showing traffic has been very good considering the market conditions. Very consistent.
You should be getting emails with the feedback, etc.

The feedback seems to be a little mixed as to whether or not you are overpriced. Half say it high, half say it is good. The other consistent feedback seems to be that there is still work to be done. I don't know what they may be focusing on other than just the picky little things (which is a common thing in this market). The buyers want over the top immaculate."

Typically only 2 out of 10 agents in the KC market will actually provide feedback. It has been my experience the best feedback is to evaluate what homes received contracts after our seller's home was on the market. Agents telling you to change colors of rooms is not necessarily the best feedback. Our team will help you decifer that feedback to see if it is a valid comment, or just them giving their opinion.

Brad Korn
The Korn Team
Serving Greater KC
816-224-KORN (5676)

Wednesday, September 05, 2007

Is the Real Estate Market in Greater Kansas City Really Bad?

The Korn Team doesn't think so, in fact, with (supposedly) the worst market ever, we personally set a new team record over the past 15 years. In June, The Korn Team sold 23 homes. That was an all time high since we started our team.

In fact, just to show you what the market conditions are like for our team: In 2005 ( the third best year of Real Estate KC had ever seen, we sold 114 homes). In 2006 (the worst market Missouri had ever seen) we sold just under 120 homes. So far this year we have sold just under 70 homes, and we are on track to close right around 120 homes again this year.

Unfortunately, not everyone can say that. The day's of just putting a sign in the yard, running ads and open houses don't work in a tough market. Anyone can sell a home in a good to great market. Even the homeowner can! But in a tough market, you are going to need even more than just MLS to sell your home for top dollar.

No matter what the market conditions are, we have proven we get our client more equity than the average agent. According to the National Association of Realtors, homes typically sell 3%-5% under the asking price. When we compare our stats from 2006 and 2007 to our competition, we are blowing them out of the water. Much of our competition in these market conditions are getting contracts accepted about 5%-7% under asking price. Want to see The Korn Team actual statistics for 2006 and 2007? Keep in mind these are just our "listings". These are the sellers that hired us to sell their home. This does not include all the buyer's we have helped.

We sold over 60 listings in 2006 and of all those sales, we averaged our sellers 99% of their asking price. That was the first solid year of the worst market KC has ever seen.

So far this year (as of the posting of this blog) we have sold 38 listings (not buyer sales, just our listings) and we are still averaging 99% of thier list price at the time of offer. We are getting them 97% of the original asking price. So, we try to get them top dollar, but even after making a small adjustment, we get the offers negotiated back up to almost full price.

So, don't trust your biggest asset (the equity in your home) with just anyone. Contact our team today for a FREE, no obligation review of the market conditions for your home. We promise to blow your socks off when you see our proven marketing plan.

The Korn Team
Serving Greater Kansas City & Lincoln, NE
http://www.kornteam.com/ or http://www.weselllincoln.com/