We’re thrilled to bring you the show notes from the ‘Real Estate 101’ podcast we are sponsoring. This interviewed featured Rose & Womble’s Charlie Laurens, a REALTOR® from our Holland Resale Office.
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Today’s guest is Charlie Laurens, an Associate Broker out of the Rose & Womble Realty Holland Road Office. Charlie leads The PerfectHouse Team, an award-winning real estate team that specializes in the Southside area of Hampton Roads, Virginia. Charlie has been in real estate for over 17 years and has helped over 3,000 families move and has brokered over $300,000 million in sales.
During our conversation Charlie gives many great ideas on how to take advantage of the new seller’s market that is happening across the United States. A sellers market is when there are more buyers than homes for sale. Since supply is less than demand, prices could go up in certain cases. Charlie believes that the rise in buyers is a combination of great interest rates and programs for key buying groups, like first time home buyers. This is a big reason why many potential sellers should get off the fence and list their home now. Interest rates could rise and a 1% increase in a buyer’s interest rate means that it will lower the amount available to a buyer can use to purchase a home. That slight interest rate increase means a smaller pool of buyers for your house.
Yet, while some price points are in what could be considered a seller’s market, it is still important for a potential seller to seek great guidance when listing a home for sale. It is not enough just to list a home in a seller’s market, you still need to be competitive in terms of price and condition of the home.
When there is a lack of inventory, home sellers will still need to consider the full market when pricing the home. Charlie and his real estate team like to provide potential sellers information about all the homes in the area that could be potential competition so that the sellers can make an educated decision on where to price the home. It isn’t enough to look at what’s sold in the area in the last six months, educated sellers will want to preview competition and evaluate the condition of their own home accordingly. Charlie calls this the ‘Total Market Overview’, which also includes a report on the price points buyers are purchasing in the style of home you own.
Creating a team with your real estate agent is another tip. While you are the boss of the transaction, Charlie wants sellers to understand that they need truthful and accurate information about the current state of the market to be able to make informed decisions. The right real estate agent is going to want to work with the client not against them.
Even in a seller’s market the first showing is online, that means you will want a real estate agent who has a written marketing plan that includes visual tours and high-definition, professional photos. The condition of the home is critical, sellers need to look at the home from the eyes of the buyer, considering things like paint, carpet, and normal wear and tear. According to Charlie, it’s better to invest in updating some of these key things before you list the home. A seller will ultimately pay for the condition of their listing – either before to update and refresh or at the closing table because the buyer negotiated the home at a lower price.
When considering listing a home, a potential seller should interview three professional, full-time REALTORS® and these individuals should be able to explain all of the items Charlie mentions during his interview.
If you wish to speak to Charlie Laurens directly please visit PerfectHouse.com.
All of the advice given on Real Estate 101 Podcast is for informational purposes only. For specific real estate advice please contact a licensed professional REALTOR® in your area to consult.