Monthly Archives: February 2013

What To Do When Your Home Isn’t Selling

This article from Realty Times gives some great tips for sellers who are having trouble moving their property.

When sellers start the home-selling process, no one wants to think “What would happen if my home doesn’t sell?” But before you panic, recognize that there are many things that you can do so you don’t wind up in that position.

Tip 1: Understanding the real estate market and the value of your home will help you avoid this dilemma. The first key point is to get educated about the market. Read your newspapers, online real estate sites, and consult with the best experts in real estate for your area to determine the sales price.

While all that may seem basic, you’d be surprised how many sellers rely on emotion to dream up a selling price for their home. Some have done little, if any, research on even their own neighborhood. Instead, their strong ties to their homes cause them to imagine that their home should sell for the price they want. Or they base the selling price on how much they owe which is, of course, of no significance to buyers.

Tip 2: Fix up your home. Most buyers don’t want to purchase a big list of must-do fixes in order to live in the home they just bought. Yet, some sellers think that it’s a waste to spend money on a home that they’re moving out of soon. That’s quite a predicament. Both sides have valid points except one side–buyers–might be in a stronger position. The seller wants out and if the home is a mess, many buyers will simply move on to the next best house. Yet, if a buyer wants it badly enough, he/she might agree to purchase your home but it’s guaranteed you’ll take a financial hit as the buyer will want to discount the price for the problems that need fixing. In the end, you might have to fix the issues before the sale anyway. So, starting with a house that is in relatively good order is the best way to begin. Read some of my other columns to see which renovations give a good return.

Tip 3: If you need to sell your home, don’t pull it off the market because you think the season isn’t right. Buyers who need to buy a home will keep hunting through all the seasons. There may be some slow times but if people need a house, they’ll keep looking even in the unlikely times.

Tip 4. Consider incentives. Yes, you can make your home more appealing by tossing in some incentives. It’s best to speak with your real estate agent about which incentives are best for you to offer. Even practical incentives can help get buyers to your home to view it. These incentives can help encourage the buyer to move forward, especially if other challenges arise.

Tip 5: Stage your home. This is not the same thing as fixing up your home. Fixing up your home includes daily maintenance and repairs. Staging your home involves using experts to make your home showroom-ready–like a model home. I know you might say that all your friends tell you that you have fantastic taste but, trust me, if you’re serious about selling your home, then it’s worth at least having a consultation with an expert in the industry. Here’s why: They are trained to stay on top of the trends that have mass appeal. They also offer a fresh set of eyes on your home. They might easily point out something that you never saw before because you’ve been living in your home for a long time. They will look at your home from an “outsider’s” perspective and that’s exactly what you need.

Taking the time to, at least consult with experts, allows you to gain knowledge and information about your home and the market place. What you do with that is up to you, but it may just be the difference between a For Sale sign and a Sold sign hanging outside your home.

Some of these items may seem small but they really do make a difference and can not only help get a property sold, but make it so much more desirable that you can get it sold at a higher price.

Prudential PenFed Realty Announces Innovative Approach to Real Estate Agent Compensation for 2013

I love my company for a myriad of reasons… they are a fresh, innovative and cutting edge real estate company. The top of the executive level is ambitious and motivates those of us down in the ranks. This press release that came out Wednesday shows that what the powers that be at PenFed Credit Union envision is working!

With 800% Growth since 2010, PenFed Realty, LLC turns eye to Mid-Atlantic markets for their latest growth initiative.

WASHINGTON, D.C. (PRWEB) February 06, 2013

Committed to its vision of building the highest quality real estate brokerage service in the nation, Prudential PenFed Realty announced today that the company is now offering their sought after IncomeBuilder commission schedule throughout their service areas in Northern Virginia, Baltimore, Washington, D.C., and the Eastern Shore.

“We are excited to bring the member first credit union service model to real estate. Our agents and clients are paramount in every decision we make,” said Kevin Wiles, President of Prudential PenFed Realty, Mid-Atlantic region. “Our new IncomeBuilder commission program allows agents the 100% earning potential that today’s top performers desire, combined with unparalleled agent services support and an award-winning business development department. This is a unique offering in the residential real estate space that will allow agents to reduce expenses, and maximize earnings in a way not previously possible.”

Revolutionizing Real Estate

PenFed Realty, LLC was originally established in the Washington, D.C. metropolitan area in 2006 as a full-service real estate brokerage firm that is a wholly-owned subsidiary of PenFed (Pentagon Federal Credit Union). With annual sales volume of over $1.7 billion, the main goal of Prudential PenFed Realty is to deliver great value, expert representation and superior service.

Prudential PenFed Realty currently ranks #15 out of over 600 companies in the Prudential Network. Nationally, Prudential Real Estate has the highest average sales price among large brokers.

Vibrant growth through several very successful mergers in 2012 has increased the presence of Prudential PenFed Realty in the market to over 1400+ world-class sales professionals with 47 office locations that offer full-service coverage in the Maryland, Northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C. markets, as well as Tennessee, Kentucky, North Carolina, Texas, Kansas, and Florida.

“Clearly we are growing at a rapid pace; with 2012 being our most successful growth year to date,” said Wiles. “A key part of our growth plan has been to continue to attract industry leading agents and give them the support and resources they need to provide best in class service to their clients. We feel that this has been integral to our growth.”

Interested in joining our team? Learn more about Prudential PenFed Realty by calling Maxine McLeod Miller at 703-836-1464, or e-mail us at: maxine.miller(at)PenFedRealty(dot)com.

About Prudential PenFed Realty

Prudential PenFed Realty, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $1.7 billion, serving PenFed members as well as the general public. Recognized as a leading real estate company in its service area, it is ranked among the top Prudential affiliates nationwide. With 47 offices and over 1400+ world-class sales professionals, Prudential PenFed Realty offers complete service coverage in the Maryland, Northern Virginia, West Virginia, Pennsylvania, Delaware and Washington, D.C. markets, as well as Tennessee, Kentucky, North Carolina, Texas, Kansas, and Florida.

Peak Producers – Week 2 – Goals change all facts.

Goals change all facts, particularly written goals.

Have you ever noticed that when you take the time to make a plan and write it down you are usually more inclined to stick to it?  Something about the actual act of putting pen to paper, or fingers to keyboard, whichever the case may be, makes it more real and makes us more likely to stay on track.

Without definitive, concrete goals we lack growth, we are like the proverbial boat without a rudder and end up in a rut.  Clearly defined, written goals differentiate the independently wealthy from the rest of the population.

I for one have started not only writing down my goals but also keeping them posted in front of me.  In looking at the Peak Producers in our class, I can tell by the results the agents that are journaling and working from written goals.  Everyone in our group is demonstrating results but those that have put their goals in writing are showing results that are exponentially higher than their classmates.

This week our group mailed out hundreds of Items of Value to their past clients and prepared for Valentine’s Day pop-bys.  I cannot wait to hear how things went on next Monday!


Peak Producers – Day 5

Wow!  Finishing up our first full week of Peak Producers has been awesome!

What a great group of agents we have working hard to not only grow their business but toHow would you like three extra transactions this quarter? learn how to better serve their clients’ real estate needs.

So often times people really do not see the value an agent brings to the table, usually because they genuinely do not understand exactly what it is that we do bring to the table.  True story, about eight years ago I interviewed a gentleman that wanted to join my company.  When I asked what interested him in the real estate business he replied that he had just closed on a house and when he saw that the agent make $30,000 for taking him and his wife to lunch and showing them a few houses he decided he wanted to get into real estate as well.  Either one of two things happened, this guy had a really lame duck agent or the agent did not do a sufficient job relaying the value that he/she provided.

Our Peak Producers are definitely learning how to show their value and better assist their clients in the process.  I cannot wait to see what week two brings!