Austin Texas Real Estate Blog

Travis Heights - Downtown Austin Texas Neighborhood - Home Sales Trends - 2008

Fri, 03 Oct 2008 22:56:00 -0700

Travis Heights is an eclectic and beautiful neighborhood nestled on the southern edge of downtown Austin, just across scenic Lady Bird Lake south of Riverside Drive. Located very near I-35, Barton Springs, Zilker Park (which is much like Austin's version of Central Park), and much more, this area offers unique homes, convenience, and a sense of community. The tree-lined streets have always reminded me of something straight out of a movie set.

For the purposes of this post, I compiled data from the Austin MLS system to give you some idea of how briskly homes are selling in Travis Heights, and for what price.

Currently, there are 30 homes available in Travis Heights, with an average asking price of $677,957. The average square footage for these homes is 2,401, for an average price per square foot of $290.70.

Over the past nine months, there were 20 sales closed within Travis Heights. The average listing price was $532,098 and the average sales price was $510,328. This means that homes sold for 95.9% of the list price. The average number of days on the market was 78 days , which is slightly more than the average for the entire Austin market. The square footage of the homes sold averaged 1,861, and the price per square foot for the sales was $281.38.

If you are a consumer living in another neighborhood in or near Austin and you are interested in seeing the trends in your particular neighborhood, please don't hesitate to contact me, and I can create a custom report for you. All of my contact information is below.

If you are considering selling your home in Travis Heights (or anywhere in the general Austin area), please feel free to give me a call. I would love the opportunity to help you get it sold quickly. You can visit my primary Austin Texas real estate website at www.austintexashomes.com. You can also reach me anytime on my cell phone at 512-796-7653 or via email at jason@austintexashomes.com.

Thanks for checking out this brief analysis!

If you enjoyed this post, why not connect with me elsewhere or subscribe via email?

If you're looking for a home in the Austin area, you can also visit my primary Austin real estate website at www.austintexashomes.com. If you're interested in social media training, visit 210 Consulting. Thanks!

Travis Heights - Downtown Austin Texas Neighborhood - Home Sales Trends - 2008

Sat, 02 Aug 2008 13:18:29 -0700

For the purposes of this post, I compiled data from the Austin MLS system to give you some idea of how briskly homes are selling in Travis Heights, and for what price.

Currently, there are 28 homes available in Travis Heights, with an average asking price of $706,005. The average square footage for these homes is 2,560, for an average price per square foot of $286.44.

Over the past six months, there were 14 sales closed within Travis Heights. The average listing price was $514,719 and the average sales price was $497,646. This means that homes sold for 96.7% of the list price. The average number of days on the market was 78 days , which is slightly less than the average for the entire Austin market right now. The square footage of the homes sold averaged 1,846, and the price per square foot for the sales was $277.

If you are a consumer living in another neighborhood in or near Austin and you are interested in seeing the trends in your particular neighborhood, please don't hesitate to contact me, and I can create a custom report for you. All of my contact information is below.

Thanks for checking out this brief analysis!

If you enjoyed this post, why not connect with me elsewhere or subscribe via email?

Multiple Offers, Multiple Sales - A Very Good Week Here in Austin!

Fri, 13 Apr 2012 14:45:17 -0700

Here are a few random thoughts to share about the market here right now. I promise that I'm not bragging about things - I'm simply blessed.

So, I think the real estate market is officially back, at least in the Austin, Texas area. This week has been a whirlwind of activity. I received two new listing referrals (both from current clients) and I sold three homes....so far.

Two nights ago, I listed a home at around 9:45pm. Yesterday, we sold it at full price to the first person who saw it.

Last night, I again listed a home at roughly 10pm. Today, I am expecting at least two offers from the 8 showings we've had scheduled.

Before you claim that I must have underpriced either of them, know that I suggested a higher price to the second house (about $15,000) but my client wanted to price it more competitively. The first one was simply priced perfectly, just under a large pricing point. If they had gone $1,000 higher, they would have lost significant interest.

This is not your father's real estate market.

Time is of the essence. It's a good time to buy a house, with interest rates at historic lows. It's also a good time to sell a house, assuming it's priced correctly and in good condition. Inventory is much tighter than it was a few months ago. In my own neighborhood, which has multiple sections and lots of homes, I noticed last year that the inventory of available homes for sale was typically around 50. Today, there are 28.

We have a number of potential clients who are interested in moving here, but they're considering renting first. Frankly, the rental market is even tougher. I have friends who have been looking for a few months for the right rental home. They contacted me Tuesday to ask about a home that was listed on Monday. I called the listing agent to inquire.

"Well, I'm sorry to tell you that you're too late. I have 4 applications ahead of you."

Needless to say, we didn't bother to go see that one.

While 2008 and 2009 were abysmally bad for us, the past two years were solid. 2011 was my third-best income year overall (out of 15 years of selling).

Almost all of my personal sales now come from my sphere of influence, referrals, past clients, and this blog. Today, I got a call from a really nice lady who is looking to relocate from Los Angeles to Austin. She wanted instructions on how to subscribe to my blog. This is a very good feeling indeed. We talked for awhile, and it turns out that she and both of her daughters are looking to move, so they will likely need THREE homes. I can help with that. :) She mentioned that she had spent the better part of the morning reading my blog. I think I'm pretty certain that she and I will be fast friends, needless to say.

I hope and pray that this trend continues through the spring and summer months. Feels like old times.

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In the Real Estate Business, There Are Few Feelings Better Than This

Fri, 06 Apr 2012 07:31:19 -0700

Last night, I listed a great house for a very nice couple in Leander. I expect it to sell quickly, and they're looking to buy a home roughly twice as expensive nearby. Two days ago, the seller called me when I was on my way to the office. He mentioned that he works for a friend of mine (one of my best friends, actually), and that my friend suggested that he call me for any real estate needs. During the course of our conversation about his house, he mentioned that he was scheduled to meet with another agent the next day, but he wanted to meet with me, too.

We spoke for 10 minutes or so, and he also mentioned that he used to work for another friend of mine from church, who had ALSO suggested that he call me. He was a bit concerned that I might not be as familiar/interested in working in his area, but I assured him that I was both familiar and very willing to help.

Before we got off the phone, he decided that he should just meet with me and cancel the other agent's appointment. I found this to be wisdom on his part, needless to say. :)

The tone of our meeting was terrific, and they signed the listing agreement before I left last night.

It's always a great feeling when new clients feel a sense of trust thanks to the recommendations of people that they already know. In this case, the seller's current employer AND his previous employer and close friend both told him to call me. Hard to beat getting referred from two different sources.

There was no resistance with regard to pricing, or suggestions I made, or any timing issues.

They already trusted me when I walked in the door.

And that is one of the most valuable things about getting a referral. You don't have to convince them that you're trustworthy. You don't have to expend tons of energy selling yourself as the best agent for their needs. In most cases, they're already sold on using your services when you arrive.

At one point, when I was going over the listing paperwork and explaining it, the seller simply said, "That's okay. We trust you."

I have always tried to build my personal real estate business and that of my company on a cornerstone of integrity and honest dealings. Over time, this has led to many, many referrals from friends, past clients, and acquaintances. It's one thing to be perceived as honest, and it's another to actually deal with people in a forthright manner all the time, even if it means talking them out of a house that would result in a quick commission. And yes, I've done this a number of times over the years.

When I was taking classes in 1996 to get my real estate license, I remember thinking that they should have called each of the courses "1001 Ways to Avoid Being Sued" or "Get Good Insurance - You Will Need It". The number and variety of ways that people got into legal hot water made my head spin. Happily, almost 16 years later, I can report that I've never had a mediation or even the threat of a lawsuit. Some will say that we've been blessed and that it's just a matter of time. I maintain that it's because we solve problems as they arise, and we are accountable when we mess up. We all make mistakes. It's what you do AFTER you make the mistake that can help or harm you.

I got off on a bit of a rabbit trail there, but you get the picture.

Referrals are gold. I try to treat them as such.

Thanks for reading!

Photo credit: Flickr.com Creative Commons license - http://www.flickr.com/photos/37135205@N07/

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Austin, Texas Area Named #2 on List for Top-Growing Metro Areas in the U.S.

Thu, 05 Apr 2012 14:50:12 -0700

The Austin metro area grew by 3.9% from 2010 to 2011, according to a story cited in the Austin American-Statesman today. I feel blessed to be selling homes in such a vibrant city. I was a little surprised to realize that we are nearing the 2 million mark on population here, frankly (1.78 million as of July 2011). It wasn't that long ago that Austin and all of the surrounding counties were in the 800,000 range.

Williamson County (just north of Austin) is the 10st fastest growing county in the United States now. Hutto was the fastest growing city in Texas in recent years, and Georgetown (where I attend church) is exploding with growth now.

Apparently, Austin added over 67,000 people in the 15-month period of the study. It's astounding to consider this.

One of the most telling statistics cited was that 65% of the growth came via migration, and 82% of that number was from other cities in the U.S. That certainly fits with what we've seen and experienced, namely, that people are flocking to this area from elsewhere because of our healthy economic outlook, quality of life, and the optimistic culture of the city.

To read the entire article, visit:

http://www.statesman.com/news/local/austin-area-growth-rate-ranks-2nd-in-nation-2284182.html

If you're considering a move to Austin, you owe it to yourself to call us first. You will not be disappointed. Our service is top-notch, and we operate with integrity. Call us anytime at 512-796-7653 or visit www.austintexashomes.com for more information. We look forward to hearing from you. You might also find our online Austin Texas Relocation Package to be helpful.

Photo credit: http://www.flickr.com/photos/jdn

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Please Consider Helping This Family in Crisis

Mon, 11 Jul 2011 10:21:03 -0700

In the past, those of you who read my blog have all been very attentive and considerate when I've posted about people who were suffering or in need. I hope to impress on you today how urgently your prayers and/or support are needed in this case...

For as long as I can remember, I've been sensitive to the pain of others, especially children and the elderly. Now that I am a father of four, three of whom are girls, it's very difficult for me to see kids suffer. A local friend of ours posted on Facebook about some friends of hers (the Strodes) who are living in a nightmare right now. Their 4-year-old daughter was badly burned while they were trying to have a nice family evening with S'mores at their home, and her recovery will be a long one. This family actually lives very near the ActiveRain headquarters, in Kent, Washington.

Here is a letter from the Strodes themselves to their friends about the accident:

"Many of you know, and some may not, that we had a terrible accident at our home last night (Saturday). After an awesome family day of summer shopping and yard work Dave and I and the kids all spent dinner on our back patio and then decided it would be a wonderful night for our first s'more campfire. We waited and tried and tried for twenty minutes to get this fire going. We tried everything. Paper, kindling, wood, pine cones. Dave decided to get some sort of fuel to the fire. He added some and nothing. He added more and the can caught on fire causing a huge flash fire towards Tommy, Brooklyn, Addison and I. Immediately there were screams I saw Brooke's hair on fire and scooped her up and patted her till the fire was out. Dave had already run Addie inside to the sink as her hair and clothes were on fire. By the time I got into the house, maybe 30 second later, there were still flames. I grabbed her and patted her down with a towel on the kitchen floor. Dave scooped up Brooke as I sat with Addie on the floor. Tommy saw all of this and was screaming and crying. Dave called 911 and the paramedics were there withing just a couple of minutes. They took Addie immediately tot he ambulance and started working on her. The second set of paramedics to Brookie. I was able to kiss Addie goodbye and the shut the door telling me they were having her airlifted to Harborview. Dave took off with Brooklyn in her ambulance as they thought they were taking her to Mary Bridge.

Ray and Sally arrived about 20 minutes later. Sally took care of Tommy and our foster son (who had been sleeping peacefully the whole time in his room). Ray took me to Harborview. On the way Dave called me from the ambulance told me Brooke was sleeping soundly in his lap and they decided to keep the sisters together and take Brooke to the same hospital as Addison.

Fast forward to today (Sunday). Brooklyn's burn were superficial. She was discharged this evening and went home with Grandma Sally. Addison is in the Burn Pediatric ICU. She does not look like Addie. She is swollen from her burns but mostly from all the fluid they give burn victims. We will know more tomorrow. They had to intubate her, she has a feeding tube, her face, ears, hands and arms are all burned. For now they tell us that her burns are worse on the wrists. They think her face should heal on it's own. She is sedated. She can wiggle her precious little toes when asked.

This has been Dave and my hardest trial by far. While we would never question who God is and His almighty work we are asking "why?" We know there is no answer. Our beautiful babies have been hurt. Dave feels awful and needs to know that I love him with all my heart. He is the best daddy. We don't understand any of this. It's a nightmare that replays over and over in our minds.

This was a horrible accident. It took 2 seconds to change our entire lives.

Please pray for a quick recovery for Brooklyn. They say she will be as good as new soon. She was running around the halls being her sassy self all day. Please pray for Addie. She is in pain. Pray for wisdom of her doctors. Pray that we can see our sweet little girls face the way we remember it soon.

We have faith in God. We know He is the great physician, He works ALL things together for good. But our hearts are broken.

Dave and I love all our children so very much. We were called to be parents. We have been blessed with our children and we know they are our gifts from God.

Sincerely, The Strodes"

You can read blog posts about Addison's progress by her family at this site:

http://www.caringbridge.org/visit/addisonstrode

(There are photos there as well, but I didn't feel comfortable sharing those publicly without their permission.)

If you would like to donate to help defray the cost of Addison's stay in the burn ICU, please make checks payable to Addison Strode and mail to the following address:

Addison Strode Medical Fund

PO Box 5847

Kent, WA 98064

If there are any questions or issues with making a donation to this account, please email Giancarlo & Tamara Papini at papinig@gmail.com.

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Despite What You May Have Heard, Some Realtors Do Have Integrity

Mon, 08 Aug 2011 23:16:17 -0700

When dealing with real estate clients, one of the more difficult objections to overcome in the real estate industry is the fact that we are often perceived as predatory and unprofessional. If I had a nickel for every time I heard this phrase, "I haven't had very good experiences with REALTORS®", well, I'd have a whole lot of nickels.

My response? "Neither have I."

However, over the past couple of years, I am happy to report that I have rarely run across the types of agents who have traditionally given all of us a bad name. Yes, there are some who are still out there, but I get the feeling (I have no data to support this assertion) that many of the truly bad agents were driven out of business by the economic downturn we experienced here in 2008 and 2009.

As the broker and co-owner of a smaller independent real estate agency, I've trained dozens of agents on the sales process. I have tried to build my own business on a cornerstone of integrity and honest dealings, and I expect nothing less from my agents. If I have a client who's considering buying a property that seems like a bad decision, I say so. Conversely, if I see a buyer about to pass up the deal of a lifetime, I want them to recognize this, too.

Why?

That's an easy answer, and hopefully it's a common-sense one as well. If I do my job correctly, my clients will want to come back to me with all of their real estate needs. They'll also send their family, friends, and co-workers to me. Good service isn't always altruistic. It's good business, too.

Another reason that I strive to provide the best possible service is this: I will likely be called upon to help my buyers when they're ready to become home sellers later. If I helped them get the best property in the first place, it makes my job that much easier down the road. Again, not just a nice move, but helpful to my own bottom line also.

The best agents I've encountered are those who are good communicators, and unafraid to say, "I don't know, but I'm sure we can find out." There's no shame in not having encyclopedic knowledge, as long as you're willing to expend the effort to get the answer, right?

At any rate, my overarching point is that there are still plenty of "good guys" when it comes to real estate sales. And by "guys", I mean both men and women, just to clarify. Don't be frightened by any negative stereotypes that you've seen portrayed on TV or movies. Just because you had a friend or family member who was burned before, it doesn't mean that it will happen to you, unless of course you use the very same agent, in which case you're kind of on your own, eh?

I do have a couple of pointers which come in handy, if you're a consumer looking for a real estate agent:

Make sure that your agent sells homes full-time. Part-timers probably don't have the necessary experience or skill set to help if things get dicey during the transaction. Full-time agents have probably seen more scenarios in their career, and they can finesse things better.
This is a big purchase for you, so dump your agent if he/she makes you uncomfortable. You'll be spending a lot of time with this person. If you get a weird feeling, move on.

I could go on, of course, but those two items strike me as supremely important to mention.

I hope you find the agent of your proverbial dreams. Thanks for reading!

Photo credit: contemplativechristian - via Creative Commons (found on Flickr)

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Seeking Your Ideas and Perspective - Planning for 2012 and Beyond

Sat, 07 Jan 2012 14:49:03 -0800

If you don't mind, I'd love to hear some input and perspective from you. I have a number of decisions on my mind with our company, and I would welcome any helpful advice/direction. Please note that I said "helpful". :) I'm editing this opening paragraph now that I've finished writing the rest of the post and I realize that some of the stuff I wrote below seems a little disjointed. Hang in there if you can.

Here's the thing: I've been selling homes full-time in Austin for 15 years as of this month. I started my own brokerage just over 7 years ago. We've had some very good years (thankfully, 2011 was one of them) and a couple of very lean years, too. As we begin another year, my business partner and I are evaluating things to try to determine the best direction for ourselves and our company. I find myself going back and forth between two extremes: big-time company growth vs. streamlining, saving money, and focusing on my own sales.

We're paying way too much for office space, so we're likely moving down the hall to a smaller, much less expensive space. Most of our agents work from home, so it seems silly to pay for a large space with lots of barely-used desks. This downsize in physical office space will save us $1700/month, so that's a no-brainer. We will be moving.

I could use some of the savings for additional marketing/branding, I suppose. Again, I'd have to think about the most effective use of these dollars. I've used just about every type of print and internet marketing technique over the years, and it seems that the internet is the only one that makes much sense, outside of handwritten notes (not a joke). Again, I welcome your input.

We have a nice system in place for the leads from our website, and a relatively substantial number of new prospective buyers sign up every day. I would love to increase our conversion rate for these leads, since I worked so hard to get the traffic in the first place. It seems that this would probably entail more accountability, and a different system, although I have no idea how much this might cost to design and implement. I could focus on SEO, but since we're getting ample traffic, perhaps the site needs a re-design to maximize its effectiveness? Here's our primary website: http://www.austintexashomes.com

I DO offer something that seems to be in short supply based on my conversations with agents: I care. I genuinely care about the people who work for us, and I am available pretty much any time to answer questions or provide advice. I've never been involved in a lawsuit or mediation of any kind, because we really try to head off problems before they grow into full-fledged legal issues. I value honesty and integrity, which might be a hindrance to substantial growth, although I'd like to think otherwise. Maybe I'm not cut-throat enough, and I'm okay with that.

There's no easy way to say this next part, so I guess I'll just be blunt. I promise it's not sour grapes, just an observation. I have seen other local companies grow to 50 agents and beyond with seemingly less to offer, other than possibly bravado and aggressiveness on the part of the managing broker/owner. I don't begrudge them their success, and I'm sure I could learn something from their recruiting efforts. Having interviewed a few agents who went to work elsewhere, only to be disillusioned, I just can't bring myself to over-promise to agents. Yes, we have leads. No, I can't tell you how many to expect, nor do I want agents who are dependent on me or the company to produce all or most of their business.

I haven't instituted minimum production standards for our agents, partly because it struck me as disingenous, since I wouldn't have been given a chance with my original mentor/broker if these were in place, but I think I was a great addition to his team for 8 years. It reminds me of the classified ads I used to see for Dell Computers that required a college degree and 2-4 years of experience, when the CEO was a college dropout. That being said, I don't think I want very many brand-new agents, partly because of the time commitment involved in training. What are your thoughts on minimum standards for sales production?

I've managed up to 20 agents in the past, and I think I could handle a lot more (40-50+), under the right circumstances. Namely, if I weren't so dependent on my own sales to provide the vast majority of my income, and if the agents were at least somewhat self-sufficient. I recognize that this sounds obvious.

I guess the bottom line is that I am torn between building an actual business that can provide income for me on its own vs. continuing to grow my personal sales. I am now 41 years old. I don't think I want to drive people around showing houses (even if they're nice houses) when I am 60 or 70.

I need a plan.

Feel free to chime in below with ideas. I'm all ears.

Thanks for reading!

Photo credit:Joe Shlabotnik via Flickr.com Creative Commons license

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How to Get Over 100 Comments on Your Blog Posts - The Sequel

Tue, 01 Feb 2011 10:46:27 -0800

A couple of years ago, I wrote a post called "How to Get Over 100 Comments on Your Blog Posts - A Retrospective". It was featured, and it received a lot of attention, then it was hijacked by my friends, and it ended up getting over 3,000 comments. At some point, it wouldn't load anymore, which is why I didn't include the link. Since I don't have access to that one, it's not a great teaching tool when I'm working with newbie bloggers. With that in mind, I decided to write another one, in an effort to illustrate which of my posts have received the most attention within this community.

(In case you were wondering, yes, that's the typewriter I use to compose each and every post, while seated in a patch of clover.)

To date, I have 73 posts that have topped the 100 mark on comments, including the one I mentioned above.

I am thankful to each of my 1,935 subscribers, and to the AR staff for paying more than my fair share of attention to what I write, and perhaps most of all, I am happy to have received just over 44,000 comments on this blog since I started back in August 2007.

So, without further ado, what types of posts bring the most comments? Here are the categories which seem to garner the most remarks, at least for me:

This last group of posts got tantalizingly close to reaching the three-figure mark, but fell a little short. :)

How much disloyalty will you accept as an agent? My relocation buyer experience - 91

I Toured the New Localism Today! Here are my initial impressions - 94

Sign of the Times? A new experience for this real estate veteran - 90

ActiveRain Gathering in Austin Yesterday - The 20th Anniversary of my 18th Birthday Party! - 92

I am writing TWO offers today! (Pssst! One of them even came from Localism) - 92

Is it a boy or a girl? Our big news - FIND OUT RIGHT HERE! (Photos, too) - 95

Just a Few Suggestions that Might Help - Real Estate Sales Tips - 94

"Sounds Like a Good Problem to Have" - Results from ActiveRain - 93

Are ActiveRain Points Fun? Absolutely! Are They Critical? Not Really - 97

How Soon Is Too Soon? Handling Inquiries From "Early Bird Buyers" - 95

Please help me find a new next-door neighbor (or move in yourself!) - Special offer for both agents AND consumers - 92

Extra Transaction Fees for Clients - An Open Forum for Discussion - 95

The Deal Closed In Spite of You, Not Because of You - 91

So there you have it. I hope this list or the categories are helpful to you. If you're new to ActiveRain, or if you have any questions that I can answer, feel free to call or email anytime. I can be reached at 512-796-7653 (cell) or via email at jason@austintexashomes.com.

Thanks for reading!

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A Few Thoughts on Influence

Tue, 20 Dec 2011 15:16:15 -0800

It seems as though I hear more and more these days about the notion of "influence", both from sites like Klout and from various industry lists (Most Influential, etc.). My intent with this post is not to discount or disavow any such influence, but to provide some food for thought.

There are plenty of people I can point to throughout the course of my life who have served as good influences on me and my character. Of course, I also had a few that were...less than helpful.

When it comes to my own personal influence, there aren't that many areas that concern me. Here's a sample:

Am I influencing my wife and kids in a positive way? As a father of four, there are few things more important than the mental and physical well-being of my children. I love them all dearly, and I am fascinated to watch them grow and develop into really interesting people. I teach them about our faith, our love for one another, and how to relate to the world at large. I am incredibly thankful that I've been blessed with a wife who does a stellar job as my partner in this regard. I tell each of them that I love them...daily (yes, even my teenage son). I want them to know that I am always available to talk, and my love is unconditional.

Am I influencing my friends to trust me? I sure hope so. I like to think of myself as a very loyal friend, although I'm certainly not perfect. The people that I see on a regular basis are important to me, and I care about how they view me.

Am I influencing my clients to remain loyal, and to send their friends and family to me? Without this particular influence, I wouldn't make a living selling homes. I've been doing this for 15 years now, and 2011 was my best income year since 2006. Why is that? Well, part of the reason is that I focused on my clients and on providing the best possible service that I could muster for them. This has always been important to me, but I was more intentional about it this year.

Am I influencing the world? This is a tough question. I've seen examples of small actions that have long-lasting effects. Like the "butterfly effect" or the tried-and-trite ripples in a pond, we often don't really know what kind of impact we have on the lives of those around us. I've also had more obvious influence on three of my friends who credit me with saving their lives. Since I can't leave that last sentence hanging with no explanation, I will say that I talked two of them out of suicide (one on multiple occasions). The other told me that he was inspired by my 2010 weight loss and changed his lifestyle dramatically.

The bottom line is this: All I can do is try to be obedient to God and attempt to provide a good example for my friends and my family. THAT is the influence that matters to me.

Thanks for reading!

Photo credit: raspberreh via Flickr.com

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Selling a Home? Here are Some Factors that you CAN Control

Sat, 20 Aug 2011 10:48:52 -0700

When you’re trying to sell your home, there are things that you simply can’t change. If you bought in an awkward location, there’s not much you can do about that now. If the plan isn’t as functional/modern as most buyers would prefer, this is something that may cost too much to remedy. You also can’t really control which buyers are in the market at any given time.

However, there are three big items that you can and DO control:

Price
Condition
Agent

Pricing: This is a biggie. Make sure that you give this part some sincere thought. You and your listing agent don't dictate the market - buyers do. In fact, one definition of market value is the price that a ready, willing, and able buyer will pay for your home.

A solid agent can provide a comparative market analysis (CMA) that should give you a good idea where to begin when pricing your home to sell.

Also, give some thought to where the "breaking points" are with the homebuying audience. In my local market in Austin (and probably elsewhere), $200,000 is one such breaking point. What that means is that there are a lot of buyers looking UP TO $200,000, but NOT over. If you price your home at $202,500, you are hurting your chances of selling. Price it at $200,000 or $199,999 if you want to use the retail psychology trick. Either way, it's a big mistake to go just over one of these breaking points. Your agent should be able to help with this, too.

TIP: If possible, go with your agent to see a couple of the homes that you will be competing with nearby. This will allow you to see what potential buyers are seeing, and it often gives you a much better sense of how your home stacks up.

Condition: As I alluded to above, you probably don't want to spend a fortune remodeling your home, but you do want it to show in the best possible light. Getting good photos, staging, cleaning the carpet, and painting if needed are all inexpensive ways to improve the condition. If you have repairs that you already know are needed, do them now. If buyers notice them, they tend to assume that the home isn't well-maintained. I guess the best advice I can give here is to get your house in the best possible condition with your budget. This WILL make a difference when you're competing with other places.

Agent: I would like to tell you that this is the single most important part of the equation, but it's probably not. Price, condition, and location will largely dictate whether or not you get offers. That being said, if you have an agent who isn't reachable by phone during reasonable hours, or who is unpleasant or difficult to deal with, or who doesn't really make an effort to present your home well, this will hurt you. Additionally, make sure that you really like your agent, because you will likely be spending a good deal of time talking to him/her. Ideally, you want someone who can get you the maximum exposure for your home, and who is reasonably experienced and good with technology (at least the basics). Friendliness and honesty are two characteristics that are critical. You aren't paying your agent to tell you what you want to hear; you're paying him to tell you the truth.

There are a number of other intangibles that are part of the formula for home sales success, but these are the ones that you can affect. "Location, location, location" still applies, but these are probably the next three in line.

Thanks very much for reading!

Photo: Diana Parkhouse Creative Commons 2.0

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How to Properly Leave a Brokerage - Am I wrong to expect a call?

Fri, 21 Mar 2008 13:35:27 -0700

I have intended to write about this topic for several months, and today I stumbled across it on my "blog topics" list. There's no time like the present, right?

As the broker and owner of my company, I have seen a number of agents leave over the years. Sometimes, the feeling is mutual and I think they are really saving me the trouble of doing it for them. Other times, I am sad to see them go. Either way, I often wonder why some agents feel the need to sneak out rather than calling me or speaking to me face-to-face.

I have never once exploded in anger at the office for ANY reason - I just don't find it to be productive. I have never made anyone feel uncomfortable for leaving when they speak with me directly about it. Additionally, I haven't ever tried to talk anyone out of leaving, because I figure by the time they speak to me, the decision has already been made.

So, I am left to wonder why certain agents have felt the need to leave without a word, note, or phone call. Recently, we had a small issue with our corporate license that required a trip to the TREC (Texas Real Estate Commission) to fix. During the visit, we realized that one of "our" agents was no longer our agent at all. He had moved his license without notifying us in any way. I had another girl who left me a note on my desk, and one who sent me an email. On another occasion, I had a lady who left with no notice or notification whatsoever. To this day, I haven't heard from her, although I know she is still actively practicing real estate here in Austin.

I have coined my own term for this over time. When agents leave in this manner, they are not just burning the bridge. They are "blowing up the bridge" entirely, much like in this video.

For those who have left on good terms, I always tell them that the door is open should they wish to return, simply because they took the time to speak with me. Because of this policy, I have had two of them return, one in the past week.

When I left my previous broker, who is much like a surrogate father to me, I had a tough time telling him, but I did it in person. We had eight years of history together, and it never crossed my mind to do it any other way.

I realize that we are all self-employed independent contractors, but it seems as though simple respect and courtesy should come into play. I am more than fair with the agents who work with me, and I truly care about all of them as people. I am also not driven strictly by money, and this is reflected in the way that I train, support and befriend my agents. You can ask anyone about this, even those who have left.

Am I wrong to expect agents to leave in a halfway dignified manner?

For any agents who may be reading this, if you are considering leaving your current company, I would beseech you to be upfront when you go, rather than skulking away into the night. You will feel better for it. Sometimes, this may require you to take a "big boy" or "big girl" pill, but it is simply the right thing to do.

However, I must also admit that if an agent is willing to leave on these terms, I am almost certainly better off without them, because they are likely to treat their clients even worse.

Thanks for letting me vent a little bit on this topic.

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The Real Estate Mystery

Wed, 28 Sep 2011 17:35:36 -0700

I've been selling homes full-time in Austin since 1997. I've trained dozens of local agents, and coached many others around the country. As a broker and owner of my own independent real estate firm, I've helped with hundreds of transactions. Through my online networking efforts and "in person" conferences, I'm thankful that I've met hundreds (maybe thousands) of agents.

Why do I mention this?

Well, it's pretty straightforward. Having encountered agents and clients of all types, I've noticed one trend:

Real estate is neither as easy as clients think, nor as hard as agents think.

Allow me to explain:By and large, I think the general perception from the public at large is that we real estate agents have it pretty easy. Show a home or two, help with some paperwork, then coast into commission town. I'm oversimplifying things, of course, but I know that I'm not far off here. I wish it were true that my job was that simple. It involves being really patient and diplomatic even in the face of major adversity, often from your own colleagues. Sometimes, clients aren't loyal. Often, lenders make mistakes that jeopardize sales. Frankly, there are a lot of moving parts when it comes to real estate sales, and a lot of juggling has to occur.

Having said that, real estate isn't rocket science, either. When agents are struggling (I've been there), it's easy to blame outside factors:

"The economy is in the tank."

"Banks have tightened guidelines, so no one can get a loan anymore."

"The media won't quit talking about how bad things are."

Believe me, I've had the same thoughts myself at times, but the bottom line is this: In any given market on any given month, people are buying homes. They might be buying fewer homes than they were 5 years ago, but there is business to be had everywhere.

If you're a consumer reading this post, know that most agents work hard and a solid number of us are good at what we do and conduct business in a professional manner. If you're an agent, grab your share of the pie. The pie may not be as large, but neither is the number of people who want a piece anymore. Too much analogy?

There's the paradox as I see it, and of course it's just my opinion. I've always found it interesting how different the perspective is from the outside vs. the inside of our industry. In my own naive way, I think it's probably the opposite of how doctors are perceived by others ("Wow, being a brain surgeon has to be a really hard job.") compared with their self-perception ("Brain surgery ain't hard."). Alright, in fairness, they probably don't say "ain't".

What are your thoughts? I welcome your feedback.

Photo: rrenzoo Creative Commons 2.0

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"Ahem...Excuse Me! Are you even listening to me?" One of your most important sales skills

Thu, 25 Sep 2008 23:38:11 -0700

Before you decide to skim this post which may appear at first glance to merely be a story about a local restaurant, please know that it has a valuable real estate message.

I took my family to Red Lobster on Sunday after church. As always, the food was great, but the service was not exactly perfect. For some reason, I have noticed a disturbing trend these days with wait staff - they DON'T WRITE STUFF DOWN.

Is this supposed to impress me somehow?

"Wow, honey, did you notice that the guy didn't write down any of our complicated order? I mean, there are five of us here. If he gets it right, I think we should double his tip."

Actually, I usually tip very well, because I used to be in restaurant management in the mid-90's, so I know how hard the average waitperson works. However, when my order is messed up, I get more perturbed if they didn't write it down. It makes me assume that they weren't paying attention.

Listening is a critical sales skill for ANY service provider, and the same goes for us in the real estate and mortgage industries.

About 6 years ago, I got my very first sale over the $1 million mark. Thankfully, we have had a good number of them since. I blogged about the entire story once, but I don't need to provide lengthy details here in order to make my point. The buyers had worked with me several years earlier, then "put things on hold", then re-surfaced in 2002. It turns out that they had worked with two other agents for long stretches of time, while searching for the perfect place.

They told me that they had always found me to be trustworthy, so they returned to let me assist them. I managed to find the right home on their first visit, and they closed on that home for $1.2 million the next month.

What did I do differently?

I WROTE DOWN her list of needs/wants. Believe me, it was a long list. After combing through all of the listings, it was apparent that there was really just one place that would work for them, and it turned out that I was correct.

I have had countless buyers tell me something along these lines during my career:

"The last agent we tried to work with didn't pay attention to us. She showed us what she thought we would like, rather than what we really wanted to see."

I am happy to state that I have built my business over the past 12 years by being a good listener. Pay attention to your clients! It pays off. I tell home buyers the same thing when we are actively looking - I will honor their criteria until they tell me to make a change. If we begin looking at properties and it becomes obvious that they can't find what they need, I present options. They can raise the price range, or they can change the area of town. Usually, it is the former, but I let THEM dictate this decision.

I have mentioned this quote in the past, and I don't know the source, but I have never forgotten it:

God gave us two ears and one mouth for a reason. We should listen twice as much as we speak.

Don't be the pushy fool who loses an "in hand" client by showing them the wrong homes. LISTEN (and write it down) and reap the benefits!

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Perception Is Reality in Our Industry, Too

Wed, 20 Jul 2011 14:16:10 -0700

I started a small marketing company in 1996, leaving behind the fascinating and glamorous world of retail and restaurant management. I was 25 years old, and I was tired of working for someone else. Much of our focus for my fledgling venture was on selling marketing and printing services to real estate agents. I quickly realized that many of our customers were making really good money, and some (most?) of them weren't even that sharp. Real estate couldn't be rocket science, right?

Right.

The truth is, real estate isn't all that difficult, as long as you understand a few key concepts, namely:

It's an emotional decision when someone buys a house, whether it's their first or their 51st home.
People want their agent to communicate with them....often.
It's important to be flexible. Things don't always go as you might think they will.
It's critical not to take things personally. Some "clients" will take advantage of your time and expertise. Period.

But I digress. I have a larger point I wanted to make here.

I was thinking about the current apparent upswing in our market, at least here in Austin, and the old advertising and marketing adage certainly applies to our industry:

Perception Is Reality.

What does this mean, though?

Well, in the world of marketing, it means that whatever your potential customer or client perceives to be the truth becomes the truth about your business. If you're considered to be reputable and service-driven, your business will likely grow accordingly. Conversely, if your company is known to be filled with ripoff artists, I'm sure you can guess what your long-term prospects will be.

There's one thing that I've witnessed for years in this business, and it's intriguing to me. I'll do my best to explain it within the confines of this post. Basically, our economy is simpler than pundits would have you believe. I don't intend to simplify it to the point of inaccuracy, but local and national economies often rise and fall based on one simple item: Perception.

If people think that the sky is falling, they retreat into their home and stop spending money. This applies to real estate, perhaps even more than the majority of other industries. I saw this most clearly in the wake of 9/11, when just about all non-necessary moves were put on hold for months. The stock market fell precipitously as well. Why? Perception. The infrastructure of our country wasn't destroyed, but people were understandably afraid, and it sent shockwaves through the economy.

Conversely, when the home buying public perceives that "things are getting better or "the market is picking up steam", they begin to buy again, or even to invest in property (side note: you might as well invest in real estate - it's better than any bank return out there today). When people spend, it magically gets better. Amazing, huh?

I'm not the type of real estate broker who always tells my friends and clients that things are going well. We've made it through a really rough patch and survived a downturn, and we're not out of the woods yet. Old-school real estate training taught me to always say, "Great!" when asked about how the market is going. I can't do that. I can now say, however, that things are truly busy for me right now, and I hope it continues.

Thanks for reading!

Photo credit: Aristocrats-hat via Flickr.com

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Austin Texas Real Estate Blog

Travis Heights - Downtown Austin Texas Neighborhood - Home Sales Trends - 2008

Travis Heights - Downtown Austin Texas Neighborhood - Home Sales Trends - 2008

Multiple Offers, Multiple Sales - A Very Good Week Here in Austin!

In the Real Estate Business, There Are Few Feelings Better Than This

Austin, Texas Area Named #2 on List for Top-Growing Metro Areas in the U.S.

Please Consider Helping This Family in Crisis

Despite What You May Have Heard, Some Realtors Do Have Integrity

Seeking Your Ideas and Perspective - Planning for 2012 and Beyond

How to Get Over 100 Comments on Your Blog Posts - The Sequel

HUMOROUS POSTS

REAL ESTATE INSTRUCTIONAL POSTS

POSTS ABOUT ACTIVERAIN (including tutorials and milestones)

SOCIAL MEDIA/BLOGGING POSTS

POSTS ABOUT CUSTOMER SERVICE

PERSONAL STUFF

INSPIRATIONAL POSTS

OTHER

A Few Thoughts on Influence

Selling a Home? Here are Some Factors that you CAN Control

How to Properly Leave a Brokerage - Am I wrong to expect a call?

The Real Estate Mystery

"Ahem...Excuse Me! Are you even listening to me?" One of your most important sales skills

What did I do differently?

God gave us two ears and one mouth for a reason. We should listen twice as much as we speak.

Perception Is Reality in Our Industry, Too

Perception Is Reality.