2021 Lake Homes Realty Agent Summit Awards

Lake Homes Realty held the 2021 national Summit event on October 12-15. The annual meeting covered performance statistics, employee training, and company planning and outlook for 2022.

In addition, special guest speakers presented a host of topics including business sales, the present state of the real estate marketplace and future projections, and professional and interpersonal growth.

The event closed with an award ceremony recognizing 2021 high-performing agents in these three categories: Aqua Award, Big Wave Award, and Splash Award.

Agents qualifying for the company’s Aqua Award have $3.5 million in revenue but not exceeding $10 million for the year. They are:

Aleace & Calvin Cappelle
Allison Adams
Amanda Parsons
Barbara Park
Brian Kincaid, II
Bruce Erskine
Carol Vandyke
Chuck & Melissa Goff
Connie Nealy
Cynthia Lanham
Dana Waldrep
Daniel Burnside
Dave Carlson
Dawn Holcomb
Gail Barnett
Glenn Fisher
Greg Isaac
Heather Leslie
Jacki McCulloch
Jerry Moomaw
Jill Botos
JoAnna Von Arb
Kurt Hauseman
Lester & Bonnie Burleson
Linda Delay
Loni Marcus
Marie Skillern
Nancy Monts
Patricia Mathis
Rachel Parker
Rebecca Brewer
Rhonda Lettow
Roxanne Clemons
Scott Brooks
Sherri Beecroft
Steve Fuentes
Tammy Moen
Tara Biesboer
Tiffany Hazelwood
Tommy Clark
Tracy Boyd
Tracy Watson
Trish Greer
Vickie Melder
Wendy Schurgot

Agents qualifying for the prestigious Big Wave Award that recognizes $10 million and up in sales for the year are:

Angela VanHouten
Bruce Jones
Carole Bryson
Cat Thornton
Chris Johnson
Cindy Anderson
Cindy Myrex
Deb Groom
Deb Short
Doug Giesler
Emily Carter Morris
Erica Vaughan
Greg Adams
Holly Blanchette
Jill Baugus
Jim Williams
Jo Lynn Miller
John Dinos
John Franklin
John Robert Elliot
J.W. Hightower
Josh Grindle & Robin Cole
Justin Dyar
Karen Packett
Kristie Anderson
Linda & David Hanf
Lisa Parker
Lisa Steele
Margaret Decker
Melinda Edwards
Melisa Bouchard
Michael Murphy
Mike Goins
Nicole Anderson
Pam Bowman
Pam DeBlasio
Peggy Overstreet
Rachelle McClard
Sally Adams
Sandie & Freddie Hurley
Sheila Howell
Stephanie Millard
Terri and Kyle Griner
Terri Gates McIlravy
Terry & Sherrie Norton
The Ken Williams Team
Tony Luna
Ty Miller
Wally Cawthon

The Splash Award is the Annual Agent of the Year! This award recognizes the top Lake Homes Realty Agent based on a combination of sales and proper business management. This year’s winner was Jo Lynn Miller!

Jo Lynn Miller, Splash Award winner and Agent of the Year with Glenn S. Phillips, Lake Homes Realty's CEO.
Jo Lynn Miller, Splash Award winner and Agent of the Year with Glenn S. Phillips, Lake Homes Realty’s CEO.

Congratulations to all our winners! We look forward to a prosperous 2022. 

Whiteboard Topics: 6 Pricing Secrets for Sellers

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: 5 Reasons Your Dream Lake Home May Not Be Waterfront

When buying your dream lake home, it’s important to review all your options. Lake Homes Realty’s CEO, Glenn Phillips gives five reasons why a waterfront lake home may not be for you.
  1. Water view: Although waterfront homes seem to be the obvious choice, they can be hard to come by. A great alternative is a water view home, because of the amazing view you’ll have of the lake.
  2. Water Access: These lake homes may not have a view of the lake, but they are in close proximity and are typically located in a community. These are great for those who consider their lake home their ‘second home’.
  3. Bang for the $: One of the biggest benefits of choosing a water access home over a waterfront home, is the bang for your buck. You’ll be able to get a lot more space and a more modern look if you forego the lakefront home.
  4. Competition: The competition for waterfront homes can be overwhelming. Choosing to buy a different type of lake home can lessen the competition, making for an easier buying process.
  5. Future Plans: A water view or water access home can be a great ‘first lake home’ for a much better price. Taking this first step can allow you to plan for the future. 
 
Knowing all your options is key when purchasing your dream lake home. Make sure to review all your lake has to offer!

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

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.

Lake Homes Realty Honored by Auburn for 4th Consecutive Year

Glenn S. Phillips could be spotted playing the tuba with the Auburn University Marching Band when not taking computer engineering classes. Today, he is CEO of Lake Homes Realty, the nation’s largest lake-focused real estate company. The Harbert College of Business at Auburn University named Lake Homes Realty one of Auburn’s “Top Tigers” for the fourth consecutive year. The 2021 Top Tigers awards recognize the fastest-growing companies founded, owned, or led by Auburn University alumni.

“Auburn University taught me a great deal about business and life in general,” said Glenn Phillips, CEO and Lead Economic Analyst at Lake Homes Realty. “To be honored as a Top Tiger four years in a row is the result of hard work and an innovative approach to lake real estate. Lake Homes Realty provides full-service, multi-state real estate brokerage services in 32 states with more states on the way. LakeHomes.com has more than 70,000 lake properties listed, totaling $30 billion.” In addition to the Top Tiger recognition from Auburn University, Inc. Magazine also has ranked Lake Homes Realty as one of the fastest-growing companies for the past four years.  www.lakehomes.com.

Lake Homes Realty was honored as one of the top medium-revenue companies in the Top Tigers awards. Honorees must be led by an Auburn alumnus, been in business for at least four full years, have revenue of more than $500,000, and operate in a manner consistent with The Auburn Creed. Top Tigers are evaluated on year-over-year growth.

Whiteboard Topics: 4 Reasons Some Real Estate Agents Want to Sell Your Home in 1 Day

It might sound good to have your lake home sold in one day but it might not be in the best interest of you, the home seller. In this video, Lake Homes Realty’s CEO, Glenn S. Phillips provides four REAL reasons why real estate agents want to sell your home in one day.

  1. Less work. If an agent is able to get your home sold in a very short period of time (which is very likely in a hot market), it’ll mean less work for them. Because of this, you may or may not get the optimal price for your home. 
  2. Commission is similar. Since how much an agent gets paid doesn’t differ much between a good sale price and a great one, there isn’t much incentive for them to go the extra mile to get the best return on investment for your lake property.
  3. Self-promotion. Being able to move a property off the market in record time comes with its own “bragging rights.” But in some cases, it’s the hot market or high demand that is the leading factor behind quick sale transactions and not necessarily the effort that the agent is putting in.
  4. Limit competition. In this current real estate market where the demand is high, agents oftentimes have buyers on hand that are ready to buy (sometimes within the hour!). If a quick sale is something you’re interested in, that’s great! But if you’re looking for the most bang for your buck, you might want to consider having other buyers join in. More competition will benefit you as a home seller since you’ll likely have more offers driving up your home selling price.

If you’re interested in selling your lake home or property and need a lake expert who understands lake property and will help you get the most return on your investment, we’re here to help.

Whiteboard Topics: 3 Reasons Why The Highest Offer For Your Lake Home May Not Be The Best Offer

There is no doubt that right now is a hot market for real estate, but a high offer does not always mean you get that amount at closing. The highest and best offer are not always the same thing. If you are looking to sell your lake home or property, here are three reasons why the highest offer might not be the best offer for you.

  1. Loan Contingencies. This means that if the buyer does not get approved for a sufficient loan, they can get out of the contract. This can be an issue if they give you a high offer that they are unable to follow through on, leaving you back at square one.
  2. Inspection Contingencies. This can lead to negotiating the price if issues are discovered about the property. While these issues may not be a deal-breaker in your mind as the seller, they could be a way for the buyer to get out of the contract or leverage the price in their favor.
  3. Appraisal Issues. With a high-priced market, the appraisal may not come back as high as the price you have set as the buyer. A bank will only loan out so much money, so the issue of who is going to come up with the difference in price can be a challenge. If a buyer does not have the means to cover part of the appraisal gap, their high price may not be as high as expected.

We hope you find these tips valuable as you venture out on your journey to selling your home. Please feel free to reach out to our lake experts for guidance.

Whiteboard Topics: 4 Think-Ahead Questions for Lake Homeowners

Do you own a lake house and are not sure whether or not you should keep it? Here are a few things to consider if you are on the fence about keeping or selling your lake home.

  1. Use or habit? Do you use your lake home on a regular basis? If you find yourself not visiting the lake as often as you’d like, then odds are keeping your lake home is probably not worth the time or money.
  2. Right size? Your kids might’ve moved out or you’ve added a few new family members since you first bought your home. So, the question is: “Is your lake home the right size for your life right NOW?” If the answer is no, then you might want to consider selling it.
  3. Family REALLY use it? Would your family actually use it if it was inherited? Just because you enjoy having a lake home doesn’t mean your family would appreciate it as much as you did.
  4. Duration of peak market? By holding on to your lake home for too long you might run to risk of missing out on the “peak” market. Lake real estate doesn’t always appreciate in value in the short-term interim.

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: 5 Early 2021 Thoughts on the Lake Real Estate Market

These unprecedented times have changed the way we do business in real estate. Whether you’re buying or selling in 2021, here are 5 early thoughts from Lake Homes Realty’s CEO that you must consider.

  1. Safe Home Showings. Home showings are a lot safer than initially thought. Keeping a safe distance from others and wearing a mask have limited the risk of exposure. Though taking safety precautions such as wiping down surfaces and proper handwashing are still important, having proper air circulation within your property is imperative to ensure a safe home showing.
  2. Step-Up Basis Repeal. The new administration under Joe Biden has proposed major changes to the step-up in cost basis for capital gains tax. This could influence your decision to sell or keep your inherited property. Learn more about the Estate Tax Reform Proposal here.
  3. Buyer Demand. There is a huge demand from home buyers in this current market, but homes are only selling if they are appropriately priced. Be sure to enlist a professional agent to help you properly price your lake home for competing bid offers.
  4. ACT Immediately. Be ready to act immediately. If you find a home that is appropriately priced, be ready to buy because it might not be on the market the following week.
  5. Think Multiple Markets. When buyers are looking for lake homes, chances are they are shopping multiple lake areas in multiple states. If you’re a seller, you must think of selling your property in relation to other markets and price it accordingly. To get the full scope on lake properties in various markets, be sure to download our Lake Real Estate Market Report.