Real Estate Forum

Stevens: Internet Doesn't Replace Real Estate Good Service

Question: I read an article in The New York Times that gave you Realtors a pretty tough time. They indicated that the real estate industry is resistant to innovation via the internet and that Realtors don’t spend much time on each deal and therefore it is not worth the commission. Do you have any comments?

Answer: Great question. Thomas Stevens, the President of the National Association of Realtors wrote the following letter to The New York Times which I feel gives a very good overview of what a Realtor actually does. His letter follows:

“It would be hard to find a more one-sided piece of reporting than Damon Darlin's "The Last Stand of the 6-Percenters?" (September 3, 2006) His swipes at real estate agents reads like an advertisement for the Internet companies he repeatedly references.

“Perspective aside, some glaring errors deserve correction.

“Buying a home is not like buying a book, a CD, or an airline ticket. The Internet's role in residential real estate is much more like WebMD than Amazon or eBay. It empowers and informs the consumer – which is good for everyone – but it doesn't replace the need for a doctor's professional services. Real estate agents are selling unique properties and providing individualized services. They provide a valuable service enabling sellers to get the best price for their homes and buyers to find the best home at the lowest price. They are knowledgeable about the community and neighborhood. “The real estate industry has been effectively harnessing the Internet for years, to the benefit of sellers and buyers alike. About three out of four buyers today use the Internet to begin their search for homes, and those using the Internet are more likely to work with a professional than those who do not. No other industry in the world has virtually its entire inventory online at one site, but you can find more than 2.2 million homes for sale at REALTOR.com, which has seven million unique visitors each month. The industry has made a multimillion dollar investment to create the infrastructure and provide the security to protect homeowners' data.

“The simple truth is that most real estate agents do good work and earn their clients' loyalty. Some 85 percent of home buyers surveyed said they would use a real estate agent again or recommend their agent to another. Home buyers do see the value offered by their neighborhood real estate agents.

“It really is unfortunate that Mr. Darlin did not do his homework and fairly represent an industry that is about promoting homeownership and the building of communities. “

Tips to Spur Off-Season Property Rentals

Question: We have a condo at Keystone and have been looking for ways to optimize our rentals during the off-season. Do you have any suggestions?

Answer: Vacation home owners who want to rent out their property in the off-season have to be creative.

Here are some tips for keeping the place occupied. Most of them are courtesy of Maureen Regar, who runs Seaside Vacation Rentals, which helps owners rent vacation homes in Maine.

• Lower the rates. Typical reductions are 30 percent for the shoulder season and 50 percent for the low season. But, don’t slash them significantly more than the competition because potential renters will fear there is something wrong with the property.

• Package it. Offer summer guests the opportunity to rent cheaply during a VIP off-season. Linking the offer to a birthday or anniversary can make it particularly appealing.

• Emphasize off-season pleasures. If fall sales in the area are good, call it holiday shopping season and promote that. Likewise, think about fall and winter sports — even unconventional ones like hockey or basketball championships, auto racing, etc.

• Winterize and emphasize the holidays. Places for families to gather for an end-of-the-year celebration are increasingly popular. Increase appeal with warm comforters, spice-scented candles, and a selection of holiday DVDs.

• Consider accepting pets. Some people will drive a long way if they can bring Fido with them.

• Have Internet. Some people won’t rent without it.

Aromatic, Freshly Painted Homes Sell Faster

Question: Please help! My home hasn’t sold and I need to sell it quick. I am getting comments that it doesn’t show well. I need suggestions and I’ll bet you have some.

Answer: You bet I do.

In some areas of the nation, houses are selling slowly. Designed to Sell, a book from HGTV and edited by Vicki Christian for HGTV, offers these suggestions to get things moving:

Paint everything: Paint the front door and replace its hardware. Consider painting the siding if it is dull. Inside, choose neutral colors for most rooms, but not stark white. Use warmer colors like golden beiges or sandy tans.

Get cooking: A home that smells like fresh bread sells faster. And make sure the kitchen is spotless and has a fresh coat of paint, at least.

Add home jewelry: New faucets, light fixtures, doorknobs, and cabinet pulls can add luster to bathrooms and kitchens.

Let it go: Reduce the furnishings in every room by 25 percent to 50 percent. Store collections. Invest in new window treatments and new furniture in the first room a potential buyer will walk into.