Sotheby’s International Realty received the highest numerical score in the proprietary Lifestory Research 2017 America’s Most Trusted® Residential Real Estate Brokerage study. The study based on 6,299 new home shoppers in the United States between January and December 2016. Your experiences may vary. Visit www.lifestoryresearch.com.
Same Property, two different tools.
Matterport Virtual Tour
- Tour at your own pace
- Floor Plan and Doll House views
- longer interaction time
- Creates emotion
- Tell a story
- More website locations to market
Negotiation tactics are often used in selling a home when objections can’t be handled. It’s important to recognize the tactic, not be alarmed, focus on the bigger picture, and the task at hand.
A look, in-person as it’s tough to “wince” over the phone, done to let the other person know concern, disappointment, or disagreement.
A tactic often used to counteract other tactics. “Silence is a source of great strength” – Lao Tzu.
Good Guy – Bad Guy:
A tactic used in some real estate teams or couples. Sometimes used by Agent/customer as well. One party will appear to be on your side, while the other appears not to be helping. Often best handled by getting all parties together.
When on party doesn’t have the authority to make a decision. The best example is that, “I have to talk to my spouse before I make a decision.” Often used with good guy/bad guy.
Something to mislead or distract from a relevant or important issue. It might be intentional or unintentional. Sometimes used in conjunction with a low-ball offer.
Trial Balloon (leak):
Information sent out in order to gauge a reaction. Used often by politicians. “If I were able to get my client to (insert number), do you think we would have a deal?” This is used very often in Real Estate, and needs to be recognized and handled very carefully, so as not to give up a customers negotiating position.
This negotiation tactic is not ideal in most markets, but they happen and the goal of the low-ball offer is to reframe the person’s thinking. Often it insults the seller, and will make the buyer look like they don’t know the market, or they are trying to take advantage. Because of this, very rarely does it work. It’s always best to respond friendly, with perhaps a small token counter offer.
Bait and Switch:
This doesn’t happen too often in Real Estate due to contracts. Perhaps, new sales centers advertising a lower priced home that’s not available, or possibly at points of renegotiation through the contract to close.
Yelling, screaming, name calling, threatening. Usually, not very productive or effective, but it does happen.
The written word:
An example would be brokerages who have their own addenda that seem harmless, but could significantly change the terms of a deal of the standard contracts most often used. Very important to understand all pages of the contract and how terms may be effected. With legal documents, it’s always best to consult a licensed attorney.
Other Tactics for which I don’t know the official term for:
You could maybe call it trying appealing to emotions or guilt. Usually happens when one party’s expectations don’t match the reality of the situation. Sometimes used in conjunction with “going crazy” and the “wince.” It should be reserved for clients and customers, agents should always stay unemotional and professional.
Often referred to as a closing technique, it can also be used in negotiations to find out information. Somewhat of a trial balloon technique mentioned above, an example could be a seller giving the option to the buyer to accept one purchase price and no closing costs or another higher purchase price with closing cost assistance. The net would be about the same to the seller, but based on the buyers response they will then know if purchase price or closing cost assistance hold a greater value to the seller.
Sometimes, one party will try and hold the other party “hostage” to get what they want. Often happens with back up offers, or multiple offers. Sometimes accompanied by and ultimatum – take it or else…
Open, expired and no permits pulled are increasingly becoming more and more of an issue when it comes time to the sell a home. Why now?
In short, prior to 2015, the City of Tampa had no way of tracking the permit process efficiently. Now they can, and are. Title insurance doesn’t cover permits. Permit issues usually get caught when either selling a home, or trying to open a new permit (most of the time, when selling a home). Your listing agent should do a search before listing to see if there might be any complications down the road. Often times homeowners are not aware a permit was not pulled or closed out, as the responsibility usually falls on the contractor.
There is a process to close out permit issues. It usually involves either the contractor that did the work, an engineer or an architect. There are service providers that specialize in permit issues. An experienced agent will know who to call, and the best course of action to take so that the sale of the property may continue.
Every so often, art is created with brick and mortar. Imagine living in this sleek and stylish contemporary masterpiece. Clean lines blend together with stunning glossy finishes, top-of-the-line fixtures and appliances from around the world that truly create a work of art. Enjoy the serenity of gated, lakefront living. Surround yourself in elements of life as air, fire and water intensify your outside experience. Cory Lake Isles is a gated community with 24-hour uniformed security and roving guards.
Grandeur embodies this extraordinary estate located in The Reserve at Tampa Palms. This private, secure community offers peace and tranquility amidst magnificently verdant vegetation, with 24-hour manned and gated security within its enviable address. Built by Hannah-Bartoletta, this modern classic residence features a customized Oxford floor plan of six bedrooms, five full bathrooms, plus powder room. The first floor master suite offers poolside and garden views, with an oversized master bath adorned with marble, granite, dual vanities, soaking tub, and separate shower. The second level features five bedrooms easily converted for other uses, such as a private fitness room or additional home office. The soundproof media room comfortably seats seven in its home theater, ideal for private screenings. Easy outdoor entertaining amenities include a outdoor cooking station with grill, and a screened-in pool with views of the lushly landscaped, private backyard.
2016 continued the positive trend in housing, in both macro and micro markets. Interest rates continued to stay at near record lows. Here is what to watch for in 2017:
- Corporate Profits are up 6.7% (http://www.tradingeconomics.com/united-states/corporate-profits)
- Consumer Confidence Indes continues to rise (https://www.bloomberg.com/news/articles/2016-12-27/u-s-consumer-confidence-index-increased-to-113-7-in-december)
- Retail and Auto Sales are up (http://www.cnbc.com/2017/01/13/us-retail-sales-dec-2016.html)
- DOW close to 20,000 mark, may cause a need to diversify into other investment opportunities.
- GDP expected to increase. (http://blogs.wsj.com/dailyshot/2017/01/01/wsjs-daily-shot-financial-and-economic-forecasts-for-2017/)
The Federal Reserve announced a rate hike in December of 2016, and hinted at more hikes to come in 2017. Though, many analyst predict rates to stay under 5%. Any increase in interest rates can reduce a buyers purchasing power.
If video is the new photography, then virtual reality might be the new video. Sir.com is leading the industry and now has the ability to embed Matterport into the listing page (not just a link. http://www.sothebysrealty.com/extraordinary-living-blog/sothebys-international-realty-global-website-integrates-new-technologies/)
Economics and Demographics:
As most areas have recovered from the housing crash, we are starting to see relatively “normal” sales metrics, and foreclosure rates. While inventory remains a challenge to supply, demand I think will follow more traditional economic metrics. Tampa Bay is expected to see a population increase over the next few years, and many of the Baby Boomer generation are coming into retirement, and as such is expected to be looking for homes and second homes in the area. The local job market remains strong in Tampa Bay, which should also help housing. The major of Tampa has been vocal about brining high income jobs to the area, which would also boost the luxury housing market.
The Trump Effect???
The President Elect has mentioned rolling back some or all of the Dodd Frank Act, and other regulations. This could have an effect on lending, but to what extent is still unknown and hard to predict.
New construction will continue to make an impact on housing. It may give much-needed help to buyer’s inventory levels, but in the short-term, could hold back some locations from appreciating at similar rates as other areas, as older homes will be forced to compete with the new construction.
We are now roughly 20-25 years into the internet era, and Zillow has reached their 10 year anniversary. However, FSBO rates are still at historical lows, 8-10% depending on the source. It continues to remain true that a vast majority of people prefer and need a professional, knowledgable advocate for what is typically the largest purchase or sale of their life.
Statistical data taken from MLS of Average sales price. Data includes Single Family, Townhouse, and Condominiums (appreciation levels might vary based on type of property, price point, neighborhood, and other factors)
Dec. 2015 = $332,303
Dec. 2016 = $382,000
Dec. 2015 = $207,000
Dec. 2016 = $237,500
Dec. 2015 = $188,000
Dec. 2016 = $196,000
4% Appreciation rate
Dec. 2015 = $173,450
Dec. 2016 = $215,900
19.7% Appreciation rate
Dec. 2015 = $362,500
Dec. 2016 = $375,000
3.4% Appreciation rate
Dec. 2015 = $285,000
Dec. 2016 = $351,500
19% Appreciation rate
Dec. 2015 = $230,250
Dec. 2016 = $239,750
4% Appreciation rate
App highlights include:
- The ability to explore properties listed by the Sotheby’s International Realty brand worldwide by city, state, country or lifestyle, either through entered text or Siri dictation.
- A powerfully visual experience, offering expertly curated high-resolution photography and high-definition videography.
- The opportunity to directly contact sales associates, share a property via email, save recent location searches and bookmark favorite properties.
- A Game Mode where players can view captivating property photos and guess the location of origin.
- The ability to access Recent Searches and Favorited properties directly on the Apple TV home screen’s “Top Row.”
“The Sotheby’s International Realty Apple TV app allows the process of finding a home to become a collective, interactive experience,” said Christian Russo, director of interactive marketing – media & platforms, Sotheby’s International Realty Affiliates LLC. “We are committed to providing an elevated design that provides the best visual experience a consumer can have. With this app, we are inviting families to come together on the couch and immerse themselves in the home-buying conversation.”
To learn more about the Sotheby’s International Realty Apple TV app, visit sothebysrealty.com/appletv. The app can be downloaded from the Apple TV app store by searching for “Sotheby’s International Realty.”