Month: April 2019

5 Things Your Client Can Do to Help Sell Their Home

Anne Hartnett Leave a comment

Preparing a home for sale for top dollar can take more time and effort than your clients may realize. This is where you need to engage, and possibly even get in front of potential clients who may not be ready to sell now but possibly will be soon.

No matter what state of mind your clients may be in, it’s never a bad idea to keep a list of important pre-sale tasks to share for when it comes time to sell. Here’s a list of five things your clients can do to further prepare their property for selling.

#1. Purge and Donate

Moving can be an expensive task; there’s no reason to pay to pack and move items that have sat unused and will remain unused in a new home. Although people may have items they keep for sentimental value, freeing up space is a great start toward an eventual move. Tell your clients to start by going through closets and sorting unwanted items into donate piles. Closet space is essential in selling a home so freeing up valuable storage areas contributes a positive selling point.

Another positive to remind your sellers of in this conversation is the donation aspect. There are many deserving charities that’ll benefit from clothing and household items they no longer use. And don’t forget to mention the possible tax deduction.

#2. Deep Clean

Now that there’s more space in the home, it’s time to convince sellers to roll up their sleeves and get to work. There are areas of the home that typically never get a good scrub unless you dedicate time to it or hire professional cleaners.

Remind clients to think about spaces such as  under beds, inside appliances, fan blades, blinds, and windowsills. Remind them to ensure their showerheads and tubs are free of calcium and rust stains. This is also a great time to get the HV/AC unit serviced and cleaned.

#3. Home Inspection

It’s probably been a while since the property’s last home inspection, so you may want to suggest a prelisting inspection. This’ll allow any known issues to be dealt with sooner rather than later. This will not only save time when their home is officially on the market, but also can put both the sellers’ and buyers’ minds at ease while building trust and transparency between the two parties.

#4. Repairs

There may be some repairs that the home inspection report suggests undertaking. If there are larger issues that need repairing, such as electrical work or plumbing issues, hiring a professional is the way to go. Smaller fixes like cabinet doors and knobs that need tightening or fixing broken door locks can be done by the homeowner if they’re comfortable with the work. But if there’s a long to-do list, it’s best to hire a handyman.

#5. Updates

Often there’s a to-do list that sellers have been fidgeting with since the initial move-in, but never got accomplished. Maybe it’s taking out carpet, removing wallpaper, adding a backsplash to the kitchen or getting cabinets replaced. Go over this list and help your clients decide what, if anything, should be done before listing the property.

Freshening up a home is a key low-impact way to get the property market-ready. Simple tasks like clearing out closet space or replacing kitchen cabinet handles are small touches than can make major impacts. These are mostly inexpensive ways to prepare a property for the market, but also smart ways potential sellers can get a head start on the selling process, even if they don’t plan on putting their home on the market for several months.

To learn more about the ways you can prepare a property for market and better serve your sellers, start your free seven-day free trial of AgentEDU and watch our “Representing Sellers” course for vital information.

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AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.

How to Deliver Better Service to Gen Z Buyers

Anne Hartnett Leave a comment

Agents need to better understand the particular needs and aspirations that buyers have when it comes to homebuying in order for the process to be smooth. That may be even more true when you’re dealing with younger clients, specifically those in the Gen Z demographic (born mid-1990s to mid-2000s).

This blog entry lays out the homebuying concerns that Gen Zs have, as well as how they stack up against other age demographics like Generation X. We’ll also provide tips on how to better serve this age group effectively.

Gen Z’s Homebuying Obstacles

In a recent survey by PropertyShark, 83 percent of Gen Z respondents said they see themselves entering the real estate market within the next five years. This comes on the heels of approximately 100,000 Gen Z homebuyers. That figure is only posed to increase; however, it doesn’t come without some potential roadblocks.

Student Debt

A notable takeaway from the survey is that Gen Z sees student debt as their biggest obstacle, with almost a third (32 percent) stating it’s their biggest obstacle to buying a home. This is a significant contrast to the only 7 percent of Gen Xers who reported the same issue.

Down Payments

The second largest obstacle for Gen Zs is coming up with a down payment for their home. This is an area that many age demographics agree is a roadblock, as 31 percent of Gen Xers and 35 percent of millennials reported the same.

Home Prices

Interestingly, unlike Gen Xers and millennials, Gen Z does not see increasing home prices as a significant obstacle in buying a home. While 14 percent of Gen Xers and 13 percent of millennials see this as a potential roadblock, only 5 percent of Gen Z reported the same.

Monthly Payments

Another brighter side for Gen Z is that only 1.2 percent of Gen Z homeowners are more than 60 days late on mortgage payments. This compares to the 1.6 percent of baby boomers and millennials and 2.3 percent of Gen Xers.

Gen Z Aspire to Different Things

Gen Zs have a different aspirational lifestyle compared to millennials. One area of difference is the amount of space they want; where Gen Z wants their homes to be 2,081 square feet on average, that’s 200 feet more than millennials.

Other areas in a home search that Gen Z value are: location, parking spaces, lifestyle amenities, smart appliances and smart homes. The report went on to state, “Considering the youth of Gen Z, the importance of smart systems is likely to increase as more of their cohort enters the housing market.”

Optimistic About Homebuying

One area that may spell bad news for smaller, rural markets, is the urban lifestyle that Gen Z aspires to. In a similar response to millennials, 30 percent of Gen Z say they want to live in large metro areas whereas 60 percent want to live in suburban areas, leaving only 10 percent for rural markets.

Living at home is still what’s most practical for many millennials and Gen Zers;  they’re doing so while also saving money to afford their own home. The report found that 40 percent of Gen Z respondents said the biggest reason they stay home is to save up money.

In all, Gen Z is considered the most optimistic about owning a home while also getting the lifestyle they want. Although they’re coming into the homebuying process with extra baggage, and specific desires, as an agent you can adapt to every buyer’s needs. Moreover, communication is key in not only establishing common ground with your Gen Z buyer but also helping them keeping their options open with flexibility.

Understanding their obstacles and formatting your services to better assist a Gen Z buyer can make the process much smoother, which can also lead to future contacts via recommendation. To learn more about better representing your buyers and best practices for any situation, begin your seven-day free trial of AgentEDU and gain access to our essential, “Representing Buyers” track.

_________________________

AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.