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What exactly is “culture” in a real estate office?

Concentricity. Ever heard that word? It means “to have a common center.” I just learned that in the world of fiber optics, the definition of concentricity is about being “well-centered.” At any given real estate brokerage office with more than a few agents on staff, even the most free-wheeling and independent agents are part of the culture – the good, the bad, and the ugly. At my “market center” in Decatur, Georgia – we live up to the title of market center. We sit in the center of our core submarkets and we dominate the numbers in FMLS Area 52 – the “Greater Decatur” submarket. We also have significant market share in the nearby areas both inside and outside the perimeter. How do we do it? Well, pretty much just like other successful, mature Keller Williams market centers do it. 1. provide the The Best Technology tools to our agents As technology continues to transform the ways in which buyers search for homes and real estate professionals … [Read more...]

The secrets to finding a buyer in the Intown Atlanta real estate market

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Many different features attract buyers to a real estate purchase, but the seller only has control over two of them. Sellers can still get the highest possible list-to-sell ratio and sell their homes as quickly as possible if they are willing to put their trust in two time trusted principles of real estate: condition and price. Since 72% of all sales transactions are “equity” transactions – not distressed, not some odd luxury transaction and not an estate sale, the chances are favorable for sellers who “get it.” Here are the the top ten features that attract buyers according to the Keller Williams Realty International survey conducted for our 2011 Market Navigator booklet. 1. Location – favored by 69% of buyers 2. Neighborhood – favored by 55% of buyers 2. Floor plan – favored by 37% of buyers 3. Updates to the house – favored by 36% of buyers 4. Curb appeal – favored by 30% of buyers 5. Square footage – favored by 28% of buyers 6. Back yard – favored … [Read more...]

Distressed Property Starts From Within…

One of my clients wanted to see a resale condo listing on Greenwood in Virginia Highland last week. Brand new on the market and priced for less than $125K - it's a 2/1 in a gated community called Highland Place, with just $190 per month HOA fees. It's been a stable community ever since it went condo back in 2000, as far as I know. I remember when my friend Rick Hale sold these for the builder at the time of conversion, and a 2/1 like this was probably $150-170K just 9 years ago. So, here's a few life lessons that can be taught from this video: 1. If you are a listing agent, or a seller, you are responsible for buyer perception - buyer perception starts with daily freshness and good hygiene 2. kitchens and baths sell houses 3. this kitchen is a testament to a slow death diet 4. a slow death diet is a reflection of your entire lifestyle 5. if you own a Colonel Sanders bobblehead doll, and lose your property to foreclosure, then leave it - he is a Saint Joseph like … [Read more...]

Ouch! Intown Atlanta Sellers and the Price Reduction Effect!

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This chart is a big eye opener. Take into account the following facts:   1. The <$200K price range had a more severe impact (-24.9 percentage points) on the percentage of listing price realized after a price reduction, but all price ranges are affected heavily when a reduction is necessary   2. The lower price range impact was likely amplified by the number of foreclosed properties in that price range   3. Between $200K and $999,999, Sellers who don't price their property right the first time are losing anywhere from 5-8% on the sale ... that doesn't even account for the lost capital - time is money, and monthly debts must be paid, month after overpriced month   In the past 2 weeks, we've concluded the following, in addition to this bold statement about the effect of price reductions:   A. Sellers are paying some or all closing costs in about 71% of Intown transactions B. Most Listing Agents and Sellers, most of the time are off by about 7% List vs. SOLD on … [Read more...]

It’s All About You, Intown Atlanta Sellers – Price Reductions Abound

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In the past week or so, we've reported that: A. Sellers are paying some or all closing costs in about 71% of Intown transactions B. Most Listing Agents and Sellers, most of the time are off by about 7% List vs. SOLD on Intown sales C. The Median Sales Price is down 10.1% through the first half for the Intown neighborhoods we surveyed Here's what we looked at... 1. Ansley Park and Morningside southward to Inman Park and Reynoldstown - that includes Midtown and VAHI 2. Eastside Atlanta Dekalb - the neighborhoods East of Moreland and Briarcliff, plus Johnson Estates and southward to Edgewood and Kirkwood - all North of I20 3. Southside Atlanta Fulton - Grant Park, Summerhill, Boulevard Heights, Ormewood Park, EAV 4. Greater Decatur - South of Mercer U, down to I20 at South Dekalb Mall So, those who get this get the quick sale. We've found that most of ya want a quick sale, don't ya? The Rootdown Group gives good advice to Sellers - call us. We would … [Read more...]

Percentage Amount of Seller Paid Closing Costs Remains Steady for Intown Closings

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Sellers in Intown Atlanta and Decatur paid some, or all, of their Buyer’s closing costs in 71% of the transactions through June, 2008, which is nearly the same as in the last two years... Greg the Pricemaster studied the following submarkets with our micro-numbers guru, Chartmaster Chuck to come up with our conclusions: 1. Ansley Park and Morningside southward to Inman Park and Reynoldstown - that includes Midtown and VAHI 2. Eastside Atlanta Dekalb - the neighborhoods East of Moreland and Briarcliff, plus Johnson Estates and southward to Edgewood and Kirkwood - all North of I20 3. Southside Atlanta Fulton - Grant Park, Summerhill, Boulevard Heights, Ormewood Park, EAV 4. Greater Decatur - South of Mercer U, down to I20 at South Dekalb Mall Based on my experience, these numbers seem even higher  - like 90% of the time or more. That being said, I've also experienced two transactions this Summer where appraisal almost caused the deal to fall apart and the … [Read more...]