Old MacDonald Had A Farm...

REAL ESTATE
NEWS

By Joe Savage,
Real Estate Broker




Reports are coming in from owners throughout the Plantation that they are receiving a deluge of cards and letters from other agents and brokerages, touting "New Listings" and "Just Sold's" and soliciting business. As many of you faithful readers probably recognize from past articles, this is called "farming" in the trade. The agents get an owners list for a condo complex from the county tax rolls or a consolidator like Dunn & Bradstreet, select a "campaign claim" and order a mass mailing to the owners in hope of getting some listings.

It's important to be a good consumer when you receive these...read them carefully to appreciate what claim is really being made. Does the announcement just say "Unit XXXX in Plantation sold!" or does it say "I just sold Unit XXXX in Plantation." Those are two very different statements. The first is just advising you that someone sold Unit XXXX...not necessarily the same person who sent you the card. The other is announcing that the agent who sent you the card actually sold the unit. In the first statement the agent is hoping you will connect him/her to a sale they may not even have participated in. Perfectly legal...just tricky.

Likewise, when you get a card announcing "Unit YYYY Just Listed" ...all you are being told is that another owner chose to put their unit up for sale...not that it was listed by that agent. Is that a good reason to put your property up for sale, much less to list it with that particular agent? The decision to sell your property is usually a combination of many factors, unique to each owner.

The decision of who to use to help you sell your condo often boils down to a handful of selection criteria:

1) Knowledge of and familiarity with the property. Being able to immediately answer buyer questions about the nature, history and condition of the property is critical in obtaining buyer confidence and keeping the "buying process" moving forward. Being told, "Oh, I'll have to check and get back to you about that," or simply "I don't know," puts a shadow of a doubt in the buyer's mind...something they know in the back of their mind that they will have to come back to, and that can delay or prevent a decision to buy.

2) Proximity and accessibility to the property. Most agents in Gulf Shores, Orange Beach and beyond have to "make a field trip" to just show properties at Plantation, and it is often easier to steer buyers to closer, more familiar complexes. Would you hire an agent from Memphis to sell your home in Nashville? Yes, this is an extreme example, but the issues are the same...accessibility and familiarity. Most of the buyers at Plantation are or have been guests here...so they know where and what it is, and usually they drive right up to shop, if they're not already here on vacation. Doesn't it make sense that an agent on-site would capture those self-qualified prospects? ...and wouldn't it give a seller an advantage to have that agent in contract to promote and sell their particular unit?

3) Track Record. The proof of the pudding is in the eating, to be sure. How successful has a particular agent been in brokering sales at the Plantation? This factor transcends all the other factors, as those are just "activities" or "processes." The outcome is a "sold property," so the question should always be, "How many sales have you brokered at the Plantation over the past several years, versus the total sales there over that time?" This tells you whether the agent has a reliable buyer market, whether he/she promotes the Plantation, shows frequently in the Plantation, is knowledgeable of the Plantation, and ultimately, sells the Plantation.
Mandoki Realty knows, shows and sells the Plantation. We have over a 28-year history with the Plantation and I have personally been an owner, investor and promoter of Plantation since 1996. My office is located at the very entrance to the Plantation campus, in the building where people go to check in, ask questions, get their free DVDs. When a guest or drive-in prospect wants to get some questions answered about purchasing, they invariably end up at my desk. ...and I can show our listings by just walking across a parking lot. As to performance, we have consistently been the most productive brokerage in the sales of Plantation properties...brokering many times more than any other brokerage in the area.

In short, Mandoki Realty knows, shows and sells Plantation. How do you put all that on a postcard?

NEGOTIATION SKILLS 101: "So what'll ya take for it?"

REAL ESTATE
NEWS

By Joe Savage,
Real Estate Broker




If you've ever sold something yourself, you are sure to have heard this question from a prospective buyer. It is a reasonable and necessary question if you have not marked or published a price on whatever you are selling. It is necessary information for the buyer to proceed...either to accept your price, or to counter your price.


However, if the asking price has already been established, this is a negotiation tactic intended by the buyer to obtain an initial advantage in the price negotiations. Probably the most artful way to counter this sort of tactic is to politely indicate that you are not in the habit of "bidding against yourself." If your buyer doesn't quite seem to understand that response, you can politely point out that you have already stated "...what you'll take for it..." in your asking price and it is now the buyer's turn to tell you "...what he'll give for it..." if he objects to your asking price. As you might imagine, depending upon the setting, the relationship between buyer and seller, and their respective interpersonal skills, this interaction could end up getting pretty sporty if either party's personality tends towards the antagonistic.


The "List-Offer-Counter-Offer" process in real estate is designed to formalize such negotiations in writing, in a relatively neutral, business-like exchange between buyer and seller, facilitated by neutral third-parties (the agents). Negotiation and facilitation are only part of the value a qualified Real Estate Agent brings to the table in helping buyers and sellers negotiate an acceptable agreement for both parties.

MARKET UPDATE
Spring has been active, but not quite as strong as last year. There have been fewer Spring Break guests across Pleasure Island, which is probably due to the number of snow days so many schools in our drive-market are having to make up from this extreme winter we all just experienced. Fewer guests translates into fewer buyers.

MHI, Mandoki Realty's sister company, is projecting above-average summer occupancy, though. So, if you are considering selling your Plantation property, you can do no better than to list with Mandoki Realty...uniquely situated at the property entrance, right where those buyer-guests will be. This unique advantage has consistently paid off: over the past five years, Mandoki Realty has brokered more Plantation sales than any other brokerage in the area. If a guest inquires about purchasing at Plantation, we are just steps away and have the answers to their questions on the spot. We can show a unit by walking across a parking lot, and it just can't get any more convenient for the potential buyer...we make it easy to buy.