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Who Wants to Buy the Most Expensive House in America?

THE NEW YORK TIMES:

“Let’s say you’re a super-wealthy single dude who just sold your company,” said Nile Niami. “You’ve just moved to L.A. and you don’t know anybody, so you hire someone to fill your house with partyers. You want everyone to know who you are, but you don’t want to talk to anybody. So you go sit in your V.I.P. room.”

Mr. Niami was giving a tour, and, unlike most home tours, this one started in the nightclub. It will have multiple bars, its own coat room and LED ceilings playing images of moving clouds. Beyond the floor-to-ceiling glass walls there is a swimming pool, along with panoramic views stretching to downtown Los Angeles and Century City.

The home is entering its fifth year of development. When finished this spring, it will be one of the largest private homes in America — 100,000 square feet — and, at an asking price of $500 million, will bill itself as the most expensive as well.

 Read more at the NY Times

 

Don Martin, a 33 year veteran real estate broker and firm owner, helps people save many thousands of dollars selling their own houses and using the MLS for peak exposure. Details of that process here. He is the author of sixteen books, and has been called the most prolific real estate professional in the country today. Follow his real estate blog here and his writing blog here.  His Amazon page is here.

FSBO Homeseller Mistakes to Avoid

There are things you can do to help sell your house, and there are things you can do to submarine your sale.

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I work primarily with owners selling their own houses, and sometimes, if these sellers are not especially careful,  this sector can be inclined toward one or more of these items.

Overpriced Home

The Overpriced Home comes along with its two little brothers,  Unwilling to Negotiate, and Won’t make Repairs.  Their family tree is that of Over-valued opinion of my Own house.   Shoppers know that house means important things to you, the seller, but they are looking at how it will fit on them and their lifestyle.  It might take some fitting and tailoring here and there.

The sellers know that bannister has gotten looser over the years.  They have gotten used to it over time.  They know not to lean on it.  A repair would involve complete removal and reinstallation of the whole section, and if the buyer wants that , they can do it, but we’re OK with it as it is.

These sellers may be unwilling to make that repair and unwilling to cut the buyers a price break so they can fix it.  To them, their house is pretty much perfect.

At this point, the crazy aunt comes in.  Crazy Aunt Showing Ability has lots of activities.  She works, of course, but there’s also tennis lessons, piano lessons, football practice, bridge club, and the book club to consider.

Value of Your House

This may be the time for you to realistically and brutally look at your opinion of the value of your house and the value of your spare time.  Selling your own house is not always fun.  It’s almost never convenient.  But if you are grounded in reality and common sense, you will find it to be a rewarding process both psychologically and financially.

But if you are not motivated enough to sell to realize that your house may not be more special than the hundreds of other houses for sale, or that your time is not more special than that of the people you are hoping will want to buy your home,  then you may not be cut out to do this.  Selling your own home is hard work!

That’s why it pays so well!


Don Martin, a 33 year veteran real estate broker and firm owner, helps people save many thousands of dollars selling their own houses and using the MLS for peak exposure. Details of that process here. He is the author of sixteen books, and has been called the most prolific real estate professional in the country today. Follow his real estate blog here and his writing blog here.  His Amazon page is here.


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Gentlemen, this is a football.

We’ve all heard it before.  The words of Vince Lombardi to the Green Bay Packers on the first day of training camp in 1961 after a terrible conclusion to the previous season.  He realized the importance of getting back to the basics sometimes and mastering the fundamentals.  Also this audience continues to grow and some people reading here are not as experienced as others. So here we go.

What is an MLS entry-only listing?

Traditional, full-service agents, in return for a pledge of a healthy amount of commission, put your house in the MLS and then expose the house to prospective buyers.  They put out a sign.  Sometimes they take phone calls about the house and show it to prospective buyers.   Sometimes they hold an “Open House.”   They or their assistant can answer your questions whenever you wish, around the clock. They can make recommendations concerning the sale.  They receive and negotiate any offers on the house.   They are ‘Full-service.”  But, more often than not, the house is sold by another agent who saw the house in the MLS.

With an MLS entry-only listing, for a few pennies on the dollar, you have to answer the phone and set up the showings.  If there is an “Open House,” you do it.  You negotiate your own sale.  And the house is still often sold by another agent who is a member of the MLS.

Do I Still Use a Broker?

Yes.  Absolutely.  A broker who is willing to do this type of listing must meet the requirements of any other, plus some extra.  He also must make clear to the seller what tasks he does and doesn’t do.  In some ways, it is like calling a newspaper and placing an ad.  The paper promises to run the ad, but they don’t promise that people will read it, or that it will be effective.

In some ways, this type of broker is a highly regulated, insured, licensed clerk.  Even if the broker wanted to do extra, he has signed an agreement that he would not.  Therefore this type broker is probably not on call around the clock.  He may not work weekends.  Once the house is in the MLS, his job is done.

You Can’t Buy a Hamburger and Expect a Steak

Most people, and most sellers are quite accustomed to the old type, full-service agent, and naturally expect their ways are that of ANY agent.  But, in most cases, these new type agents may keep what is closer to “business hours.”  They may have even signed an agreement to give you no advice negotiating.  Sometimes customers don’t think about that and get mad when the agent is not sitting at his computer, waiting for their call Sunday night.  Sorry, “MLS entry-only” is not the same as “full service.”  Instead of spending all my time on one or two listings, I work with a LOT of customers.

And yet, even though this sounds pretty basic, last week one of my customers asked me quite seriously, “how do you make any money this way?”

Don Martin, Martin Properties (615) 973-8970  www.mlsDon.com

 

Photo credit: Lee Edwin Coursey via Visual hunt / CC BY

‘Twas the Free Friday before Christmas…

‘Twas the Free Friday before Christmas and all through the blog not a creature was stilling, not even the dog. Yes, I know this is the time of year when every advertiser and every commercial feel obliged to sing their message to the tune of The Twelfth Day of Christmas, so I will try to make this post as non-irritating as possible!


Join our merry band of peeps and get a FREE REPORT – click here!


I do come, however bearing three gifts- a free report, a free ebook, and a free kindle book.

How does one get these Free Friday freebies?

The free report, “Five CRITICAL Real Estate Mistakes to Avoid When it’s time to move”. is available here…eepurl.com/bxB-vv

The FREE eBOOK about the basics of Flipping Houses! is available here…eepurl.com/bJUU3X

The free kindle, “Now What… is available Friday and Saturday at amazon here…https://t.co/whFlukdyuF

And, of course all of this pales in comparison to the benefits you receive when you subscribe to TheReasonableRealtor right here.

Well, that’s it for now,  I will talk to you soon!


profileBroker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars, also delivers seminars, keynotes and motivational messages to real estate and sales professionals. His 30+ years of experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com, MLS-TODAY.com or Amazon.com.

 

Staging your home like a “Boss.”

 

 

Are you considering putting your house up for sale, but not even sure where to start? Maybe it will take too long to sell, or maybe you won’t get the price you want? Think about “staging” your home, or in other words,  making it easy for a prospect to imagine owning your house.


Join our merry band of peeps and get a FREE REPORT – click here!


To be really effective, you need to look at both the outside and inside of your home. Here are three tips to get you started with the inside:

1. De-clutter. This is one of the most important things you can do.  It may be easier to think of de-cluttering like this you are just getting a headstart on moving!

Pack up everything you don’t need and store the boxes out of sight in the garage (or consider temporarily renting a small storage locker or what is called a “pod.”)

2. Organize your closets – put similar colors together, pants together, skirts together, and shirts together.  It will make the closets look bigger.  An organized closet appears bigger, and you want your closets to look as spacious as possible.  Have the shelves almost empty if you can.

3. Make your home look more like a model. You want to remove as much of your “stuff” as much as possible so potential buyers can imagine themselves and their own belongings occupying that space in your house. That means minimizing – putting away everything you won’t  use while on the market. Clear off the kitchen counters as much as possible – stash unused appliances, and small clutter in a few attractive baskets or boxes or hide it away.

And the biggest tip of all? Imagine yourself as a potential buyer looking at your house for the first time. What first and second impressions are you getting? Would YOU buy this house? What would you like to see different before you put an offer on your house?

And don’t worry about spending some bucks to get your house ready to sell – you’ll get it all back when your house sells. Don’t ever spend a dollar unless it will make you a dollar, but the correct staging will help you sell your home in a shorter time and at the price you want.


profileSpeaker Don Martin, founder and CEO of Martin Properties, besides helping hundreds of FSBOs save thousands of dollars,  delivers seminars, keynotes and motivational messages to real estate and sales professionals. His experience in sales, marketing, real estate, promotion, management and technology has empowered thousands to expand their knowledge and achieve their goals. Connect with Martin Properties on Facebook, TheReasonableRealtor.com,   MLS-TODAY.com or Amazon.com.

 

It’s FREE FRIDAY!

This week’s offering is SELL YOUR HOUSE FASTER FOR MORE MONEY…

“Whether you are buying or selling, the ten secrets will likely put money in your pocket or at least help you hang onto some of your money.It’s been a few years since I have bought or sold a house. Things have changed!
I liked the easy to understand explanation for some fairly complicated real estate terms and I would recommend this book to anyone who is considering buying or selling real estate. A lot of things you don’t know can sure cost you a bunch of money!”

INDEPENDENT HOME-SELLERS LIKE GRADUATED SERVICES

I will keep you posted… Please go to my page at Amazon.com/author/donm and help yourself to the free kindle today, and I would love it if you would buy another of my books while you are there. Please leave me a review, too!

Enjoy FREE FRIDAY!

Thanks to everyone-

Don Martin

Martin Properties

(615) 973-8970

New Looks for the Old Website!

We have been doing some fairly extensive work on The Reasonable Realtor website.

The first page is no longer the blog page, but rather a real Welcome! page that shows you what all we offer, but there is a very easy jump to this blog area.  We will be starting to include a featured house listing in some of the  blog entries.  The entries will also be categorized to make subjects easier to locate.  These changes will be progressive in nature as we ramp up the new style.  Of course, our purpose for existence will always remain to deal with all things real estate, helping you to save and/or make money with you adventures in home ownership or buying/selling property.  We will still answer your questions, but also point out items to you that are new or interesting.  There will possibly be some humor involved from time to time.

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New Premium Service Plan

 

It is odd to me in these days of great attention to spending, and in this industry where people try to save money by doing things themselves, I have received requests lately for a higher, more Premium “Yikes-I’ve-Got-To-Sell-NOW!!!”  level of my service.  I must admit I probably dismissed the first several requests because I saw my service as complete, and did not wish to give an impression to anyone that I was the type who kept trying to up-sell my customers.

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