[Miami Herald] Why your expired listing could be like ‘picking juicy grapes off a vine’ for a Realtor

Outdated real estate listings, frequently caused by pricing issues or ineffective marketing, offer promising chances for proactive real estate agents. These professionals have the opportunity to engage with property owners using personalized approaches aimed at re-listing and selling their properties effectively. Realtors can turn stagnant listings into fruitful deals by tackling obstacles that previously stalled the sale, such as price adjustments or improving the property’s attractiveness. This method is mutually beneficial for homeowners who reach their selling objectives and for agents who gain content clients. As a result, expired listings can be advantageous for realtors ready to dedicate time and energy to revive them.

“In fact, many properties are sitting stagnant because they are overpriced, making the market appear far healthier than it really is, says Glenn Phillips of Lake Homes Realty, a multi-state brokerage.” – Miami Herald

Curb Appeal: Small Upgrades Create A Big Impact

Curb Appeal, front door of lake home with view to the lake, brick walkway entrance, potted flowers, green foliage flanking walkway
Photo courtesy of Scott Walker, Lakelight Photography via Star Tribune

First impressions are everything—especially when it comes to our lake homes. Curb appeal is, after all, one of the most critical factors when buying and selling homes. But regardless of whether your house is on the market, we still aspire to generate a welcoming experience for ourselves and our guests. So whatever your taste—modern, transitional, traditional, cozy cottage—the entrance to your home should offer an inviting signature statement from the dwellers within.

There are many inexpensive ways to amp up your curb appeal surprisingly quickly and with minimal effort. Small changes can deliver significant impact. In addition, you’ll love the results yourself and will always look forward to coming home. So, if you want to put some wow factor into your curb appeal, check out these cost-effective changes that are sure to impress without breaking the bank.

Paint Power

turquoise blue painted front door surrounded by green foliage
Photo courtesy of Read McKendree via House Beautiful

There’s nothing like the transformative power of paint to create an instant refresh for your front door. Just look at how eye-popping and visually pleasing this turquoise door becomes when backdropped by gray shingled siding and lush green foliage. A fresh coat of paint packs a powerful punch, and there are endless shades to choose from. Try a vibrant red or bright orange for a modern edge that looks striking against a dark neutral backdrop. When selecting your shade, try a complementary color that will pop against your home’s exterior. A sleek, elegant black also makes a bold statement and lends a sense of refinement to contemporary and traditional styles. Beautifully grained natural woods are also an option if you want to create contrast without actually painting.

Next-Level Locks & Hardware

For an even more impactful door makeover, consider upgrading your hardware. This simple fix will create big drama and acts as the jewelry for your front door. Choose a finish that complements the style of your home’s exterior and pairs effortlessly with the color of your door. Brass, bronze, and matte black fixtures befit both rustic and modern looks. In addition, polished and brushed metals pair well with a multitude of styles, including traditional and contemporary. The shape of your hardware also contributes to the overall aesthetic, from clean and streamlined to curvaceous and ornate.

You can also consider upgrading your security with an integrated smart lock that you control via an app on your phone. There are many types to choose from that will blend harmoniously with the style of your front door.

Liven Your Landscape

front entrance greenery, potted flowers and potted plants, white stone walkway, arched glass door with metal accents, black metal lighting sconces flanking door
Photo courtesy of Pinterest

Do you have a lackluster landscape? Take inventory and start cleaning it up with simple things like weeding, trimming, watering, and replanting. Aside from your yard, you can dress up your front door with luxuriant potted plants and flowers that will frame the entrance to your home. Create a symmetrical look with pairs of matching plants and pots, or display colorful blooms for an eye-catching accent. You can even switch them out seasonally to create unique looks for spring, summer, fall, and winter.

Stylize Your Address

illuminated house numbers at front entrance of home
Photo courtesy of Ohashi Design Studio via Home Design Lover

It’s all in the numbers, as they say. In this instance, it’s your house number. Make sure yours is attractive to look at and easy to read for guests and delivery services. If it’s looking unpolished or outdated, replace it with a style that’s more appealing and befitting to your home’s exterior. You can choose from a range of styles, including ultra-modern numerals and 3-D numbers illuminated by LED lights for a brilliant display. For more rustic and traditional looks, choose classic or vintage styles. The options are endless, and you can easily find one that suits your taste and budget.

Thrive Under Pressure

If your exteriors look dull and dirty, it’s time for a pressure wash. You can hire someone to do this for you, or you can rent or purchase a pressure washer if you’re more of a do-it-yourselfer. This is an excellent technique to scour away grime and mildew from your siding, driveway, and walkways. It’s also an efficient way to clean decks, patios, and even outdoor furniture. To go the extra mile, consider re-staining your wooden deck to enhance the beauty of the grain and protect it from the elements.

Enlightened

Exterior lighting for lake home at front entrance, lawn, under eaves, and rooflines
Photo courtesy of Southview Design

One of the most dynamic enhancements you can make to your home is exterior lighting. This sets the tone for your home’s curb appeal at night and also highlights the architectural features. You can illuminate almost any area with sconces, uplighting, and overhead lighting, especially at the front entrance. Accent with lawn lighting to set your landscape aglow and create a welcoming ambiance for friends and neighbors.  

Shoreline Appeal

lake home seen from the water with tiered landscaping and steps leading to the back yard
Photo courtesy of Supreme Lawn & Landscaping

As lake homeowners know, your home has another curb that needs constant attention. Showing off your home from the water is often the most important view, so ensure your lake landscape and shoreline are tidy and well-manicured. If you have a dock, refresh the paint when it looks worn, and do the same with your outdoor furniture.

Now is the perfect time to upgrade your curb appeal and get ready for another glorious season at the lake. So, what are you waiting for? Dive in and enjoy the new look you create.

Enjoy this article? You might also like: 5 Things to Know About Selling Your Lake House in the Fall

Whiteboard Topics: What Lake Home Buyers Don’t Care About

If your lake home is currently on the market, or it will be soon, it’s important to know key things about buyers. As a seller, you may have certain home transaction qualifications that are important to you whereas these same priorities may not be important to a homebuyer. Lake Homes Realty’s CEO, Glenn Phillips, has some insight into the top 5 things sellers may care about, but buyers don’t. 

  1. What the seller paid: Phrases such as “This is what we paid” usually don’t coincide with what the buyer thinks. They’re looking for the best price. The market will set the price that will sell.
  2. Listed price of nearby homes: What’s listed for and what sells are two different things. You should instead be aware of what the homes are selling for. The buyers are already aware of this. 
  3. Personal effort on customizations: The emotional value put into house might mean a lot to you, but for the buyer the same sentimental feeling isn’t there. You personal style isn’t the same as everyone else’s.
  4. Rumors of outlier high prices: Just because your neighbors sold their home as a high outlier doesn’t mean the circumstances will occur for you. You may have priced higher based off a rumor. 
  5. Taking low offers personally: No offers are worse than a low offer. Try countering the offer and negotiate during the transaction.

At the end of the day, buyers are ready to jump on some great options. You just have to make sure you go about it in the right way. If you’re ever looking for more help, contact an agent at lakehomes.com. They know how to get buyers and are more than willing to help!

Whiteboard Topics: How to Sell Your Lake Home for More Money

If you want to maximize your return on your lake home, check out these tips from Lake Homes Realty’s CEO, Glenn Phillips.

  1. Remove Attachment: Refrain from equating your attachment to the home with its value. You should treat this process like any other transaction.
  2. Price Strategically (Appropriately): Overpricing your home will cause it to become stale on the market, which will inevitably force you into a series of price cuts. Soon, you’ll notice buyers only presenting you with lowball offers.
  3. Use Time Correctly: If you sell your home too quickly, you may be leaving money on the table. Give out-of-town buyers a chance to present you with better offers.
  4. Think NET vs Price: Commission fees will affect the net earnings on your home, but investing in a solid real estate agent will ensure you walk away with the most money possible.
  5. Extra Exposure: The right exposure will make all the difference in selling your home. Websites like LakeHomes.com have a database full of qualified buyers looking for a home like yours.

Before you put your house on the market, be sure to consider these factors to get the most from your investment!

Whiteboard Topics: How Can a Lake-Focused Real Estate Agent Protect a Seller

When listing your lake home with an agent, working with an agent that specializes in your lake will make all the difference. Lake Homes Realty’s CEO, Glenn Phillips, shares 5 reasons a lake home seller needs a lake expert.

  1. Pricing is Different: The price of a lake home isn’t just determined by traditional factors. You have to consider its position on the lake to know its actual value.
  2. Timing is Different: Many lake home buyers come from across the nation, and selling a lake home too quickly will limit the owner’s potential profit.
  3. Urgency is Different: The lake real estate market moves at a much slower pace because it involves discretionary purchases. Most buyers can afford to wait when searching for their dream lake home.
  4. Exposure is Different: Your home has to be seen to be sold. Working with an agent that has the ability to list your home with LakeHomes.com means all the right buyers will see your property.
  5. Buyers are Different: A lake home buyer has different buying habits than your typical residential buyer. A lake-focused agent will have expertise working with this demographic.

The needs of a lake home seller and a primary residential real estate are inherently different. To ensure the best outcome, work with a lake real estate expert!

Whiteboard Topics: How To Spot An Overpriced Lake Home?

Just because a lake home is a discretionary purchase, doesn’t mean you should overpay for one. Lake Homes Realty’s CEO, Glenn Phillips, shares how to spot an overpriced property.

  1. Price… “Sort Of”: What’s considered overpriced for one home on the lake may be a great value for a similar property in the area. You have to keep certain factors in mind before you start comparing homes.
  2. Days on Market: A high number of ‘Days on Market’ is usually a sign that other home buyers have deemed it inappropriately priced.
  3. Clues in Photos: Assess photos for current conditions. Sellers may try to reimburse themselves for the money they’ve invested in the past despite it being outdated.
  4. FSBO: These sellers aren’t as knowledgeable about today’s market as a traditional agent would be. This typically leads to them overshooting the current value of their home.

Watch out for these signs and you’ll find your dream lake home with the right price tag!

Whiteboard Topics: What Sellers of Lake Homes Will Be Thinking In 2023

Predicting the habits of sellers tends to be a shot in the dark in today’s market, but it doesn’t hurt to give an educated guess. Lake Homes Realty’s CEO, Glenn Phillips, forecasts some expected trends from sellers in 2023.

  1. Already Selling: There are three types of sellers in this category. They typically range from casually invested, uninterested, and completely vested in the lake real estate market.
    1. “Steady as She Goes”
    2. Under-reactive
    3. Proactive
  2. New Sellers: This category also holds three types of sellers, most of which are proactive. What differs about them is the motivation behind selling their property.
    1. “Steady as She Goes”
    2. Proactive-Economic Concerns
    3. Proactive-Liquidate

From speculative to motivated, sellers come in all types, and understanding their patterns is key to buying or selling a lake home. Be sure to take these seller types into consideration before entering the lake homes market!

Whiteboard Topics: How To Find Your Dream Lake Home

Before embarking on your lake real estate journey, you have to set some groundwork. Lake Homes Realty’s CEO, Glenn Phillips, presents five ways to prepare yourself in order to find your dream lake home.

  1. Know What You Seek: Clearly define what you want in your lake home. It’s extremely difficult to find the right home if you don’t know what you’re looking for.
  2. Know What You DO NOT Want: Knowing what you don’t want will help narrow your search to more promising homes. 
  3. Long Time-Frames: Lake homes are discretionary purchases, which results in a slower moving process than traditional residential real estate. Prepare to be patient for the home that you want.
  4. LakeHomes.com Email Alerts: To stay on top of the lake homes that match your criteria, sign up for email alerts at LakeHomes.com.
  5. Lake Expert Agents: Be proactive in communicating with a lake expert agent. Doing so will help them find the best lake home for you.

Setting the foundation for a smooth home-search process will make all the difference. Find your dream home with confidence after adding these steps to your checklist!

Whiteboard Topics: Selling? Don’t ‘Buy’ The Lake Homes You Already Own

Is demanding everything you want worth it if you still own your lake home in the end? Lake Homes Realty’s CEO, Glenn Phillips, shares 3 reasons why you should be more flexible as a seller.

  1. Overpriced for Current Market: One of the first indicators that you are about to ‘buy’ your own lake home, is overpricing it. While your home may feel priceless, its valuation has to match the market. Are the phrases below clouding your pricing judgment?
    1. What I’ve got in it
    2. I used to be an agent
    3. My ‘Friend’ said
    4. I read on the Internet
    5. My neighbor’s house…
    6. I need this much
  2. Failure to Counter Every Offer: No matter the offer, you should never take it personally. Always consider countering in order to take advantage of all opportunities.
  3. Looking to Conquer: Be willing to consult with a lake expert, and accept that you may not get everything you want out of the deal. The best chance you have to sell your home is when you are realistic.

Don’t let your personal attachment to your home force you to own it forever. Let the market and your lake agent, guide you when you’re ready to sell!