Top Agent Network

Pricing a listing: Two hard ways. One easy way.

Mon, 30 Jan 2012 16:10:00 -0800

Do agents ever have home sellers who want to overprice their listings? That’s like asking if you’ve ever met a kid who likes candy!

As a top agent, you know how critically important it is to price your listing right in order to get it sold. Overpricing guarantees your listing will languish on the market. Languishing means that the home usually sells for less than it could have, had it been priced correctly from the get-go! That’s why we spend so much time trying to convince our sellers to price their home correctly on day 1.

The two most common hard ways to determine that magical “right” price are:

1. Comparative Market Analysis (CMA) - Search the MLS for comparable closed sales. Add or subtract for relative strengths and weaknesses of your listing.

PROS: Scientific and factual.

CONS: Sellers latch onto whatever information gives the highest price.

2. Peer Agent Pricing Opinions – Invite other agents to render their opinion of price. Throw out the high and low and take the average.

PROS: Closer to real market value.

CONS: Only as good as the agents you invite. Seller latches onto the highest opinions and dislikes those agents with lower opinions.

And the easiest way to price a listing is? (Drum-roll, please…)

3. Ask Seller for his Price, then subtract 10-20% - During the listing presentation ask, “What do you think is the right price?” Depending on property and market, the correct price will be 10-20% below that.

PROS: Super easy and most accurate.

CONS: Requires you to convince the seller that he is unrealistic.

Check it out for yourself. Examine your last few closed sales. Recall what price the seller originally told you they expected and compare that to the closed price. Unless you are in one of those rare, multiple offer markets you’ll find that most of your listings closed for 10-20% below the seller’s stated valuation!

1Br House, Mill Valley, CA: Another Top Agent Network member's listing published in "The Week" magazine

Wed, 09 Nov 2011 14:48:50 -0800

Congratulations to Joshua Burns of Top Agent Network Marin whose Mill Valley, CA “1Br House” listing was published in this week’s “Best properties on the market” section of The Week magazine (click to view). That makes TAN’s 17th placement in the past 10 months!

Another Top Agent Network member's listing published in "The Week" magazine

Thu, 03 Nov 2011 10:03:28 -0700

Congratulations to David C. Gilbert of Top Agent Network Marin whose Belvedere, CA “Carriage House” listing was published in this week’s “Best properties on the market” section of The Week magazine (click to view). That makes TAN’s 16th placement in the past 10 months!

Another Top Agent Network member's listing published in "The Week" magazine

Thu, 15 Sep 2011 17:08:09 -0700

Congratulations to Bert Aronson of Top Agent Network / Monterey Coast whose Carmel Valley listing was published in last week’s “Best properties on the market” section of The Week magazine (click to view). That makes TAN’s 15th placement in the past 9 months!

Two more TAN member listings published in "The Week" magazine

Mon, 22 Aug 2011 12:11:21 -0700

Congratulations to Patricia Navone of Top Agent Network/Marin and Regina Magid of Top Agent Network/Santa Barbara who have recently had their listings published in The Week’s “Best properties on the market” section. That makes TAN’s 13th and 14th placements in the past 9 months.

Particia Navone’s Tiburon, CA listing scored with its “Balcony” theme in the
August 5, 2011 issue.

Regina Magid’s Santa Barbara, CA listing scored with its “Sports Court” theme in the August 19, 2011 issue.

Be on the lookout for next month’s themes announced via email. Your listing could be next!

Top Agents involved in 3 out of 5 sales - New research and more...

Tue, 02 Aug 2011 10:08:39 -0700

TAN just completed two research studies on real estate market dynamics and TAN usage. We thought you would want to see these exciting results:

There’s power at the top:

TAN helps member agents in powerful ways:

We mean it when we say: “Here’s to lots of closed escrows!”

Overview of the Pocket Listing Market underscores TAN's unique value to agents and their clients

Thu, 05 May 2011 10:19:51 -0700

This overview of the pocket listings market published in the 5/4/11 New York Times highlights the powerful advantages to real estate agents and their clients of using Top Agent Network (TAN). TAN was designed to help top-producing agents do this kind of specialized, off-market networking extremely efficiently, giving agents and their clients immediate access to vital, otherwise private, information and more strategic options for effective home sales. Read the article:

It’s not Listed. But It’s Definitely for Sale.

TAN member's listing in recent "The Week" magazine

Mon, 28 Mar 2011 11:01:39 -0700

Congratulations to Maureen Wilbur of Top Agent Network’s Contra Costa South chapter whose listing, featuring an elevator, appeared in last week’s “Best homes on the market” section of The Week magazine.

The Week reaches 500,000 highly affluent and educated print readers and over 1 million web viewers.

Triple Play in The Week magazine

Wed, 02 Mar 2011 11:39:36 -0800

Three member agents from San Francisco hit the jackpot by getting their listings placed in this week’s issue of The Week Magazine. TAN works closely with the editors of the week to showcase the listings of our member agents. As a result of these efforts, this is the fifth issue in three months that featured properties from Top Agent Network members. Each “Best properties on the market” feature is read by 500,000 print readers and 1 million web viewers. Clients have been very impressed!

Congratulations to TAN Members Pete Brannigan, Joan Gordon and David Cohen, and Ana T.L. Dierkhising for making this week’s section of “Best Properties on the market”.

New TopAgentNetwork.com website targets clients

Mon, 31 Jan 2011 15:59:26 -0800

Top Agent Network’s (TopAgentNetwork.com) new public-facing website is designed to help bring you new clients and impress existing ones. It does so by specifically pointing out to buyers and sellers the many competitive advantages of working with you, a TAN member agent.

With its clean bold look and crisp layout, new clients will find you and your existing ones will be glad they did!

Add this to your continually expanding list of TAN marketing resources

Will all homesellers be taxed 3.8%? (hint: the answer's NO)

Mon, 25 Oct 2010 12:38:00 -0700

Member agents on Top Agent Network recently hotly debated a reported “3.8% home sales tax” that is supposedly included in the Obamacare Health Care Bill. One concerned agent posted, “If you sell your $400,000 home, there will be a $15,200 tax.”

Can this be true?

The answer is it is NOT true!

TAN member agents quickly blasted out 20 replies. As factcheck.org explains it (full article),

“The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.”

While TAN should not be used for political messages, it is a great place for member agents to inform one another on important real estate information and dispel rumors. That is exactly what the discussion did. Many people were/are confused about this very issue but Top Agent Network’s collective knowledge got it right!

So keep those posts and replies coming!

David Faudman, Founder/CEO Top Agent Network, Inc.

A HILARIOUS (AND TRUE) MUST SEE FOR ALL: LISTING...

Fri, 17 Sep 2010 19:04:27 -0700

A HILARIOUS (AND TRUE) MUST SEE FOR ALL:

LISTING AGENTS
HOMESELLERS

See Pocket and Pre-MLS listings in one report

Mon, 13 Sep 2010 15:21:00 -0700

You and your clients want every edge in this market. Just knowing about MLS properties is no longer enough. You need to the inside scoop on pocket listings and homes BEFORE they go on the MLS.

Top Agent Network’s Off-Market Report is a searchable/sortable catalog of all Non-MLS/Pocket listings posted by member agents. This report now also includes “Pre-Announce MLS Listings”.

Please keep your Off-Market listings current for your fellow top agents by clicking the update link in the weekly email or on the report itself.

Expected on MLS Date is now required when you post. Listings fall off the report automatically at their MLS date. Listings without an MLS date fall off in 90 days unless you update or re-confirm them.
Optional Open House date and time. Open Houses are specially identified with a “House” icon on the listings.
Easily update your listings – Change availability status, price, photos, open house and remarks.
Display photos on topagentnetwork.com public website – You must opt-in to post your listing photos. Automatic Twitter “tweet” of your listing also available soon.

So…post your Non-MLS and Pre-MLS listings on TAN and use the Off-Market Report.

You and your clients will enjoy the inside scoop – and you’ll keep more hair on your head!

David Faudman, CEO/Founder

Let TAN marketing materials brag FOR you!

Wed, 08 Sep 2010 09:45:00 -0700

Top Agent Network member agents are some of the most experienced and highest producing in their market areas; providing their clients a competitive advantage. Use TAN marketing materials to credibly verify your real estate success.

Available online now:

Personalized Client Version of Off-Market Report - Include it in your listing or buyer presentation package. Excludes the address or listing agent information.
NEW TAN logos – Use them on your business cards, brochures, email signature or personal website (click “My Account” in upper right hand or site).
Your name and profile listed on the public-facing membership roster - Provide this link on your website and in your email signature.

Available at support@topagentnetwork.com (online soon):

Personalized Membership Certificate - Include it in your listing or buyer presentation package.
“About TAN” Client Flyer - Quickly explains the benefits to your clients of your TAN membership.

Sing your own praises without uttering a sound.

David Faudman, CEO/Founder

When less is more

Wed, 01 Sep 2010 10:43:24 -0700

I just got off the phone with the assistant to one of San Francisco’s top agents. This assistant creates BEAUTIFUL marketing pieces for the SF agent, who is a member of Top Agent Network. The assistant and I were chatting about posting practices on TAN in general, our new Off-Market report (which he really likes). I was reminding him that where TAN works hardest for agents is in the Off-Market arena… that private swirl when properties are coming on and agents are buzzing about who’s got what listing, who’s got what buyer, no it’s not on the MLS yet…

The assistant said, “Yes, but I can’t post until I get pictures, and often I don’t get those until just a day or two before we go on the MLS.”

As I told him, this is truly a case where less is more. Agents, post whatcha got, when you’ve got it, as SOON as you’ve got it. Text conveys plenty, certainly enough to tell an agent whether the listing might fill a client’s needs. The “pretty” part can come later (and certainly will, knowing you guys). We even have an edit function on the application to let you add photos easily once you have them. But by posting AS EARLY AS POSSIBLE, well before you go on the MLS, you get the benefit of all those trusted TAN connections—and everyone on the network looks great in their clients’ eyes because they have the inside scoop.

We at TAN have seen the network yield lots of almost uncannily easy transactions for agents, sellers and buyers when a listing—headed for the MLS—never got there because TAN matched the sellers and buyers up in advance.

So as soon as you’ve got anything to share - a buyer need, a listing - get it on the network in just plain words. Less is more! —Suzanne Crawford, Membership Director

6 Reasons for Off-Market/Non-MLS Home Listings

Thu, 26 Aug 2010 14:27:00 -0700

David Faudman, CEO/Founder writes: I am asked all the time, “Why would any seller not want to put their home on the MLS?”

Often called “Pocket Listings”, here are 6 reasons why a seller would want to avoid the MLS and list their home as an Off-Market/Non-MLS listing:

Seller wants privacy. Divorcing and high profile people often have privacy concerns. Unlike the MLS, Off-Market listings don’t require the posting of a street address.
Test the pricing without getting stale on the MLS. Sitting too long on the MLS kills a home’s marketability.
Attract the most serious buyers. Real buyers work with a connected real estate agent.
House still being prepped for sale. An Off-Market listing allows the agent to pre-screen for buyers who are able to see through the clutter.
Provide sellers with something special. Off-Market listings have a certain elegance.
Provide buyers with something special. Buyers want to know about the “secret” homes for sale as well as those on the MLS.

In some markets, Off-Market/Non-MLS listings account for 15% or more of the homes sold.

If you can't stand the heat get out of the home office

Wed, 25 Aug 2010 12:37:00 -0700

Here in the SF Bay Area, especially San Francisco and the Peninsula, we’ve been waiting for this heat all winter, I mean summer. Now that it’s arrived there is a mad rush to get the “Jet Engine” fans and super duper portable A/C units, seeing as how most homes in the area are not equipped for handling temperatures over 80F. All of which will come in handy for the next couple of weeks while we get to experience our summer, but can cost a small fortune in these budget tight times.

As much as I like having a home office, it’s just too darn hot to stay in. Other than two weeks out of the year where we get blazing heat, I prefer not to have to make such large purchases and get little use out of them. So my economical solution has been to get out of the home office and into air conditioned venues such as Borders.

So remember, for an economical solution to summer: If you can’t stand the heat get out of the home office and enjoy a break from the usual routine.