#UrbanCastle

 
The Scoop on DC Living
September 2015
|
follow me
Like us on Facebook
 

 

BRETT WEST

REALTOR  ® 
DC, Maryland, Virginia

 

Buying & Selling Real Estate: Why It's Complicated

If you've ever tuned in to the TV show MODERN FAMILY, you have no doubt found yourself charmed by the clown bearing the stage name Fizbo. For those in the know, the clown's name is a play on words for FSBO ...For Sale By Owner.

On occasion, I encounter a consumer who wants all the data I can provide, takes it and then explains, "Well, you see, we've decided to try selling this on our own," believing they can convert market data into success, and remove the Listing Agent (presumably me) from the equation, thinking it will save them a good 3% commission fee.

Often, I find that these endeavors result in homes that remain on the market longer and sell below the expected price. For instance, one FSBO sold last year for $815,000, which professional opinion tells me should have sold for closer to $850,000, and I had the buyers to prove it.

I'm not here to belittle the FSBO direction, despite contributing time and analysis, not to mention nearly a decade of working expertise (and decades of marketing/ PR success) to equip consumers with knowledge to make powerful decision.

However, in tracking the majority of my listings, it is not uncommon for them to maintain 100% or more of their original asking price to get sold ...and often they sell at 3% to more than 10% above the original asking price, which more than makes up for the 3% broker fee.

But lets add professionalism, hired photography, market knowledge, networking and advertising - and all that comes along with performing this job - into the equation, versus the average homeowner, who likely is already more than fully preoccupied with a career. When is there time and experience for the average homeowner to:
  • Devise a customized marketing plan?
  • Prepare pricing strategy?
  • Provide preparation and staging counsel?
  • Host open houses?
  • Conduct follow up with Realtors and open house guests?
  • Adjust expectation when necessary?
  • Negotiate on price and terms?
  • Manage every element of the contract to ensure little - but critical - details don't slip through the cracks and jeopardize settlement?
  • Amass a range of vetted professionals to ensure the buying, selling, moving and home improvement process comes together seamlessly?
  • Answer the questions that haunt in the middle of the night?
  • Troubleshoot and circumvent disaster?
Even a growing number of Realtors are deciding to hire a trusted Realtor to represent the purchase or sale of their own property, Why? Simply stated: because it's complicated.

If information is power, I'd like to help make you the most powerful consumer of real estate on the market!

- Brett

Property Spotlight

If you imagine condo living, but long for some outdoor space - but not enough that will require a lawnmower or extensive maintenance - this #UrbanCastle located at 4329 Massachusetts Ave NW may be just the place for you! 


News & Trends

FORBES
TRID And The Scary Shark Music From Jaws
The dawn of the new plain language, consumer friendly integrated mortgage disclosure era is upon us. 
THE WASHINGTON POST
More Home Builders Catering to Buyers' Four-Legged Companions
Today, there are designer accessories, electronic feeders, automatic pet doors, special showers and tubs, and flat-screen TVs positioned at Fido's and Fifi's heights, not to mention the ultimate luxury: a room of their own.
McENEARNEY BLOG
We have you covered for the spookiest and scariest haunted houses in our area. If you are a thrill seeker, wanting to get the pants scared off of you this Halloween season, then look no further. Happy Haunting!

#UrbanCastles on the Market

AVAILABLE INVENTORY OF #URBANCASTLES

As of October 9, 2015, DC boasts 1,521 properties actively on the market for sale (that's more than last month at this time!). This excludes FSBOs (For Sale By Owner) and pocket listings. Here's a look at inventory by price range throughout the hot 20011 DC zip code, which includes 16th Street Heights, Crestwood and Petworth, where there are currently 128 active properties:

 

$0 to $350k

(21 total units available)


 

$350k to $500k

(28 units available)


 

$500k to $800k

(62 units available)


 

$800k+

(18 units available)

 

Not finding exactly what you're looking for in the selection of inventory in DC? Feel free to check out plenty of inventory throughout the DC Metro Area, or I'm happy to schedule a time to talk with you about your goals.

 

 

www.BrettWest.com

202.552.5604 direct

202.744.0576 mobile  

BWest@McEnearney.com 

 



Featured agent on House Hunters: