how to sell your house in 2008

How to Sell Your House In 2008

Presented by: Tom Hollerbach

Golden Years Real Estate & Services

In This New Housing Market You Require New Selling Strategies

In the Good Old Days

• SELLER’S MARKET

The Home Owner was in charge Sell “AS IS” Set the Price

Set the Contingencies Low Effort Select any Real Estate Agent to Sell

The Buyer was ready and able to buy Buyer’s job security VA Mortgages

One Bread Winner Build Equity

American Dream Raise Family

It’s a New Housing Market

Requiring New Selling Strategies

BUYER’S MARKET

Sellers need to be creative Set your home apart Stage Home

Avoid penny wise Repair Issues Hire a real Real Estate Professional

Buyers Problems in today’s market

Heavily in Debt Tighter Mortgages Scared about their Job Security

Afraid of being house poor Afraid of buying in a sliding market

Want a “carefree” house

So Why Are There Fewer Buyers and More Houses

For Sale?

SUPPLY AND DEMAND

• The World Economy, Loss of Job

• D.I.N.K.S (Dual Income No Kids) looking for an unrealistically low

house deal to begin their family with one less income.

• The Media’s Gloom and Doom

• Different Goals Than Their Parents, to be house poor with the assumption

of equity grow may no longer be true

Media’s Gloom

& Doom

Sells Magazines

February 11, 2008

On page 43, the estimated year-over-year change was -2.6% in the Northeast.

• Many sellers are unwilling to accept the new housing market realities.

They holding on hoping for the Seller’s Market conditions to return.

More Houses for Sale because:

• Inventory of existing homes sit longer on the market.

L.I.F.O. = Last In First OutF.I.F.O. = First In First Out

F.I.S.H. = First In Still Holding

• Lack Luster Real Estate Agents. NJRA estimates 50% will leave the field by 2010

• The Baby Boomers are retiring but not downsizing to smaller houses in the same town or region

• Option #4 - Auction: Usually for Bankruptcy Sales

What Are My House Selling Options? Four basic options for selling a house.

• Option #1 - Real Estate Broker: Used to sell over 97% of Single Family Homes

• Option #2 - Private Sale: Buyer sells to professional real estate investor or contractor

• Option #3 - F.S.B.O (For Sale By Owner) 85% of FIFO attempts are unsuccessful and the buyer revert to Option #1

What should I ask a potential Real Estate Agent?

1.) How many houses are you listing2.) Are you in real estate F/T or P/T3.)Will you do the work or your team 4.) How will you market my home 5.) What’s the commission 6.) How long is the listing agreement 7.) What if I find my own buyer,

Be Smart with the Commission Structure

Seller Pays Listing Side Buying Side

5% of Sales Price

Listing Agent 1.25%

Buying Agent1.25%

< Commission = < Buyers

Listing Broker 1.25%

Buying Broker 1.25%

Foxton 2% Discount

Broker is no longer in

Business. Lot’s of Listings but

no Sales

When selling your home, what’s most important to you?

Time & Effort

Best Price

Combination of Both

Golden Years Real Estate & Services will provide you with the results-driven

professional services that you need to succeed in this market.

2.) Depending on the factors of: time, effort and money, I will offer you a fair cash offer OR find a buyer for you via the MLS.

Next Steps:

1.) An in home free consultation to determine which selling method is right for you. With this objective information you will learn what your house is really worth to a buyer and how long it will take to sell it.

2b.) If we agree that the house should be sold via the MLS, you can be assured that you are retaining a full time real Real Estate Professional in the business everyday; listing, buying and selling properties. In this market, you can’t afford to trust your home sale to an amateur.

2a.) If we agree that I will buy your home, my price in locked in for a full 6 months.

What Can a Seller do Right Now?

1.) Preparing to sell your house to potential buyers will require you to shift your mindset. You must separate your “home” from the physical structure of your current “house”. Remember you are not selling your home. You had a home before you had this house and you have a home after you sell this house. You are just selling a building that some other family will turn into their home.

2.) Stage your house for Sale by significantly reduce the items in the house. Downsize your items to the level that you will need for your NEW home. Golden Years can help with this step.

5.) Consider all offers and make counter offers.

3.) If necessary repair obvious items that may distract buyers. Golden Years can help with this step.

4.) Make plans to “disappear” during a realtor showing of your home. You do not want to be home during a showing.

Thomas J. HollerbachReal Estate Investor & Licensed AgentGolden Years Real Estate & Services

470 Schooley’s Mountain RoadHackettstown, NJ 07840

908 343 1171

www.goldenyearsequity.com