Tag: CEO Insights

Whiteboard Topics: 6 Pricing Secrets for Sellers

Posted on Linda Thach

When selling your lake home, it’s important to put yourself in the best position. This means understanding the market, or working with an agent who does. Lake Homes Realty’s CEO, Glenn Phillips gives six pricing secrets for sellers. 

  1. Hot ≠ Stupid: Even though the market is hot, this does not mean buyers will pay crazy, overpriced houses. Start at the right price instead of receiving no offers and having to cut the listing price.  
  2. List $ ≠ Sold $: Comparing your listing price to neighbors’ listing prices will set you up for disappointment. Listing price does not mean the house sold for that price; knowing what homes are selling for is more valuable. 
  3. Local Comps ≠ Lake Market Comps: Buyers could be looking at multiple lakes or even in different states. Working with an agent who understands the entire lake house market will set you up for success.
  4. Pretending ≠ Selling: Include an honest description of the home and make sure you are serious and committed to selling. 
  5. Time = Money: The longer a house is on the market because of a too high listing price, the more money it will cost you. Buyers will believe something may be wrong with the house or are simply unwilling to pay the listing price. 
  6. Start Too High ≠ Best $: Starting too high on your listing price means eventually having to cut that price. This leads buyers into believing you will cut the price further and therefore offer even lower.

Selling your lake home doesn’t have to be difficult. Set yourself up for success and work with an agent who knows not only your lake area but the lake house market!  

Whiteboard Topics: 4 Tips for Lake Home Buyers in this Hot Real Estate Market

Posted on Linda Thach
You can never be over-prepared when buying your future lake home. Lake Homes Realty’s CEO, Glenn Phillips, has four tips for buyers in this hot real estate market that you’ll want to check out before you make your next offer!
  1. Easy to Understand: When making an offer, ensure that it is easy to understand. Making it too complex can confuse the homeowner and their agent.
  2. Ready Cash: Having plenty of cash available can help you stand out against other buyers with loans. Sellers feel more secure with cash offers because of the added security.
  3. Improve Credit Score: Improving your credit score beforehand will help with your buying power. It can help with loan approvals and lowering interest rates.
  4. Follow Seller’s Rules: Be sure to follow the rules of the seller when showing interest in their home. Failure to do so can cause your offer to be overlooked.
Buying a lake home shouldn’t be complicated. Following these four tips can help ease the process, and give you a better home buying experience.

4 Reasons Lake Home Sellers Should Focus on “Seller Net”

Posted on Linda Thach

Do you know what the term “seller net” means? “Seller net” is the amount of money a seller makes from a real estate transaction after all costs and fees are accounted for. When selling a lake home, there are many factors that could distract you from the overall “seller net” equation. In this video, Lake Homes Realty’s CEO, Glenn S. Phillips explains four reasons lake home sellers should focus on the “seller net.”

  1. Cost of Selling. A common mistake most lake home sellers make is being fixated on the small details of home selling costs such as commission fees.
  2. Time Matters. The time your house stays on the market affects your bottom line. Things home sellers often overlook are mortgage payments, insurance, and home maintenance costs that cost you more over time.
  3. Brokerage Commission. If you pay a lower commission rate and get a lower price for your house, that could affect your “seller net.” In other words, you get what you pay for.
  4. Service Level of Agents. When selling a home, it’s important to look for an agent that can provide you with exceptional service. This includes someone that is knowledgeable about your lake property and location and is capable of properly pricing your home for the best return on investment.

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.

Whiteboard Topics: 3 Dangers of Selling Your Lake Home in 1 Day

Posted on Linda Thach

While it might sound good for an agent to have a lake home sold in one day, it may not be in your best interest as the seller. You may get a great offer that first day or that first weekend, but here are three reasons to hold off on deciding too soon.

  1. Winning and THEN deciding. Some buyers will win the highest bid before they decide if they even want the house. They know the market is hot, so they will bid high and then decide to go through with the offer or renegotiate using contingencies. People who are more methodical will most likely not jump on the first day.
  2. Fewer offers. You may get several offers the first day or first few days but waiting even two weekends will give time to the methodical buyers to think through an offer.
  3. Out of town buyers. These buyers cannot come in a day. If you give a longer window of time, they will show up with intention and will often have the best deals for the seller.

Whiteboard Topics: What is Title Insurance?

Posted on Linda Thach

One thing in a real estate transaction that some people may not understand is title insurance. They may ask themselves “What is it?” and “Do I really need it?” To navigate the confusion or uncertainty, here are three things to know about title insurance.

  • Right to Sell. Title insurance is basically just insurance that guarantees that the seller has the right to sell that property. There can be a lot of confusion surrounding whether someone has the right to sell a property — whether that be fraud, a mistake, or ownership uncertainty — but title insurance can help clarify and clean up that misinformation. 
  • Clients Can Shop. You can shop around for title insurance that best fits your needs. The price of title insurance typically reflects the sale price of your home, and relative to many of the other costs involved in a real estate transaction, it isn’t that expensive. Though there are laws in place to protect buyers and sellers from fraudulent title insurance companies, you always have the option to shop around and get prices from various suppliers. 
  • One-Time Cost. This is not a recurring payment. It is a one-time cost that takes place at a closing. Once the title insurance company is paid, they will do additional filings and verifications at the courthouse, and several days later, the buyer will receive their policy.

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.

Whiteboard Topics: How to Decide Whether a Family or Friend Should Be Your Real Estate Agent

Posted on Linda Thach

Have you ever encountered that awkward moment when a friend or family member thinks they should be your real estate agent, but they might not be the right fit? Real estate is probably one of the biggest investments you’ll make, so it’s important to choose the right agent for the job. Here are some tips for navigating that dilemma without wanting to disappoint or displease family and friends.

1. It’s a business decision. This is not necessarily a personal decision. There’s a lot at stake when choosing the right real estate. The right professional for the job will value that importance.

2. Interview for best choice. It’s not about you who like most, it’s about who can help you achieve your goals in the time frame you want. Interviewing for best choice will allow you to be confident in the plans and tools that the right real estate agent can offer.

3. Generalist vs. specialist. If you’re buying or selling a specialty property, like a lake home, a general real estate agent isn’t going to know all the nuances about that market. Someone who knows your market is going to likely be more effective than someone who doesn’t.

4. Look for unique offerings. Does the real estate agent have a unique skill or quality that no one else has? Compare the agents that can help you locate the property you want faster or maximize the number of buyers for the property you’re selling. Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight in today’s lake real estate market and guide you in your home journey.

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight in today’s lake real estate market and guide you in your home journey.

Whiteboard Topics: 3 Reasons Not to Wait to Sell Your Lake Home

Posted on Linda Thach

When you’re starting to think about selling your lake home, it can be hard to know when the best time to do so. In this video, Lake Homes Realty’s CEO, Glenn S. Phillips, shares THREE reasons why this fall may be the BEST time to SELL your lake home.

  1. Spring is old school. People looking for lake property are not influenced by the typical school year.
  2. Limited sellable inventory thus creating high demand. Many are opting not to sell their homes during the pandemic.
  3. Economic turmoil looming.  Uncertainty surrounding stimulus money and COVID-19.

If you’ve determined that right now is the time to sell your lake home, we’re here to help. Our national network of agents facilitates knowledge of the competition, quicker home sales, and relationships with buyers. Be sure to connect with one of our agents at Lakehomes.com today!

Whiteboard Topics: 3 Things to Consider When Selling Your Lake Home

Posted on Camille Smith

When it’s time to sell your lake property, it can be difficult to know what should be top of mind. In today’s Whiteboard Wednesday video, Lake Homes CEO, Glenn Phillips, shares three things to consider when selling your lake home. 

  1. Your competition in other lake markets
  2. How long an agent’s houses are on the market
  3. How to connect with the buyers more actively 

At Lake Homes, we help you navigate these important aspects of selling your lake home. Our national network of agents facilitates knowledge of the competition, quicker home sales, and relationships with buyers. If now is the time to sell your lake home, connect with one of our agents at Lakehomes.com today! 

Whiteboard Topics: Four Tips on Buying a Lake Home During COVID-19

Posted on Camille Smith

When the pandemic began, buyers and potential sellers quickly realized that lake houses are perfect for social distancing. As a result, there became more buyer demand and fewer homes on the market. Although this trend has made things complex for buyers, this doesn’t mean you can’t find your dream home! If you’re looking to invest in a lake house, here are 4 tips on buying from our CEO, Glenn Phillips. 

  1. Be fast and aggressive in making your offer. 
  2. Look at the full inventory of lakes for sale.
  3. Find a lake expert agent to help you. 
  4. Consider multiple lakes in different states. 

Don’t forget that buying a lot and building a home is always an option as well! No matter what you choose, Lake Homes Realty is here to help. With tens of thousands of listings in multiple states, our agents use lake-focused expertise to support you throughout the buying process.