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by Mike Carraway, Access Realty, Birmingham, AL

A LOT of sellers want to price their home above the market value and they do it for a variety of reasons...

Some say they want to have "negotiating room". Some say, "we can always come down later". And others say, "we just want to see what we can get - you know - test the market."

Theses are all good reasons from a seller's point of view. They aren't, however, from a property marketing standpoint. When you put a property on the market, you want to generate the highest traffic and demand in the shortest time possible and all of these so called reasons to overprice just hinder and impede the marketing process.

Danger #1

Pricing a home above the market value usually results in people going elsewhere and buying. They may love your home but if you have a similar product in your market for a lower price, they'll buy it - not yours. In effect, you have missed your buyer and now you will have to wait and attract another one at a later date.

Danger #2

Traffic and lots of it is what sells a home. Without human bodies walking through your home, it doesn't matter if it's the best deal around or the most beautiful in your neighborhood - it still won't sell. In order to get the most traffic possible in the shortest time, the price must be right from the very beginning. If the home is priced very near what you actually think it will sell for, you will get the most traffic - and offers.

Danger #3

Your home will sit on the market while YOUR buyers go buy other homes. You will have lower traffic due to the higher price and fewer people will be exposed to it. What happens when you finally decide to lower the price? People see the price reduction and it causes a couple of thoughts...

1) I wonder how much further down they will come?
2) I wonder if something is wrong with it?
3) I wonder how long it's been for sale?

Just these three will cause you more suffering from low offers and constant questions about whether you will carry part of the financing or not. You will soon grow tired of it.

The best way to avoid ALL of these problems, especially in a buyers market as we are in right now, is to price your home AT the market. Not a little over but right at the market value.

Want a secret? Price your home slightly UNDER the market value. You will have people fighting over it and will probably receive multiple offers. When you do - you can actually start a bidding war of sorts over your home and may even realize MORE than the market value.

by Mike Carraway, Broker, Access Realty, Birmingham, AL 800-840-0165

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The following are the links to the selected listings.

Details 331358, 5020 GIHON CIR, TRUSSVILLE, AL - $308,900.00
Details 338932, 5012 GIHON CIR, TRUSSVILLE, AL - $308,900.00
Details 339702, 7913 COUNTRY CLUB DR, TRUSSVILLE, AL - $309,900.00
Details 346229, 4966 JOAB CIR, TRUSSVILLE, AL - $309,900.00
Details 344631, 6229 JONATHANS WAY, TRUSSVILLE, AL - $309,900.00
Details 347557, 6672 SERVICE RD, TRUSSVILLE, AL - $309,900.00

Or Click Here to go view all listings at once.

If your email program doesn't support an HTML url, then copy and paste the following
address to your browser's address box. Make sure you copy and paste the
entire link; it may appear on multiple lines.

http://bhammls.net/BAARReports/listings.asp?ID=WMI5467956

REALTORS: REAL-Service REAL-Expertise.
You can also visit http://www.Access1000.com to perform your own property search.

Broker
WEICHERT, REALTORS - Access Realty, Inc.
1-800-840-0165

By Joe Klock, Sr.

Real estate analysts (and what American is not among them these days?) tend to survey the sea of sale signs in most areas and join the gloomy headline writers who conclude that there are not enough ready, willing and able buyers in the market place.

Not so, gentle reader! The shortfall is among sellers, of which there are relatively few treading water in the aforementioned sea.
"Whoa, Nellie!" you might exclaim (ignoring the by-line clearly displayed above), "any fool, including the by-lined fool, can see that it's buyers that are now in short supply."
In so doing, you might cite the hordes of hungry house-hunters who roamed the house-hunting roadways during the many months of a recently-deceased feeding frenzy, fueled by mortgage lenders with deep pockets and all the fiscal restraint of sailors on leave.
It is a now a fact of real estate life in most areas that their numbers - and that financial fuel - have shrunk like last month's birthday balloons, and it's true that there are fewer prospective buyers rummaging through the current logjam of listings.
Enter the law (not the theory or fantasy) of supply and demand, which dictates that when the number of consumers is dwarfed by a surplus of products, either prices take a hit or activity takes a holiday.
That reality underpins my contention that, while there may be too many homes for sale, there are too few legitimate sellers offering them.
This position is backed up by more than a half-century of experience on and behind the firing line of real estate brokerage, during which I have seen and survived several cycles of inflation, deflation and stagflation, as well as so-called sellers' markets which morphed into buyers' markets and vice versa.
Through all that trauma, certain facts remained unchanged - facts that are being ignored by too many would-be sellers and, sadly, pseudo-professionals. They are as follows:
1. No home in history has ever sold for a penny more than the best offer obtainable from the best buyer available in the then-current market.
2. The only way to determine the true value of a home is to thoroughly and aggressively test the market and challenge the competition. That process need not be a lengthy one, since buyers and their agents do comparison shopping and readily react to an attractive offering.
3. Once that procedure has been pursued, properties remaining unsold for an extended period of time are, quite simply, overpriced. Forget about what similar houses sold for in the past (which is history), or what those would-be sellers might have invested in their homes (which is irrelevant), or what qualified appraisers say they are worth (which are only opinions). The critical test is exposing one's home to the greatest practical number of prospective buyers and active agents, and then analyzing the results.
4. A home that is appropriately priced and effectively marketed, preferably by competent professionals, will ALWAYS attract attention, generate activity and ALWAYS sell for what it's worth (refer to Fact #1 above).
The problem today is not that there are too few buyers. Demand is what it is and neither wishful thinking nor wistful memories will increase its size.
The more serious shortage is of genuine sellers; i.e., those who meet these specific criteria:
a) They are willing and able to accept the best price obtainable from the best buyer available in the current market, and
b) They have something to lose if they don't do so.
"Sellers" who do not fit that mold are not sellers at all and should be encouraged to take their properties off the market. (Realistically, they're not actually ON the market, anyway!)
The market is not always kind, but it is never wrong - and those who believe otherwise pay a heavy price for ignoring "The Facts Of Life For Home Sellers."
FOOTNOTE: For a further dose of this perhaps-unpleasant medicine, visit www.joeklock.com and click on that caption. You have nothing to lose - except, maybe, a pipe dream.
If that doesn't work for you, take two antacids or a short snort and DON'T call me in the morning!
Here's the bottom line - take it to the bank or to any nearby Wailing Wall: When proper pricing is combined with effective marketing, there is a buyer for everything and, given those conditions, any home can be sold in any market.
The ritual dances of negotiation may change with market fluctuations, but the drumbeat of reality does not!

Mike Carraway
Broker/Owner

WEICHERT, REALTORS - Access Realty
1100 East Park Drive, Suite 104
Birmingham, AL 35235
1-800-840-0165
WEICHERT, REALTORS - Access Realty
Valleydale Branch
4500 Valleydale Road, Suite 160
Birmingham, AL 35242
205-995-3939
24/hr Info: 800-634-0511
24/hr Fax: 800-634-0511
www.Access1000.com
www.Weichert.com
www.AlabamaWebPage.com
www.TakeOurTest.com
www.BirminghamRealEstateSchool.com

Because of the change in real estate market conditions, more sellers are competing for fewer buyers. So once again, it seemed important to challenge a long-standing "myth" of real estate.

"The initial listing price isn't that important because the price can always be adjusted down later."

Many homeowners believe this.
It is a myth.
Not true.

If most buyers first viewed your house because of a newspaper ad, a magazine, the internet, brochures, or the sign in your front yard, the initial listing price probably would not make a difference. The house would always be "new" to those seeing it.

But most buyers do NOT come to your house because of various types of advertising. That is the another myth.

Sure, buyers call on an ad, they often LOOK at that house, but not always. Once they talk to an agent, they may discover it isn't what they need (or want) at all.

However, they ARE talking to an agent. That agent knows the current inventory and will know of other property that DOES fit their needs.

Those are the properties that buyers look at, and THIS is how most buyers end up looking at your house, too. Because of other agents, not because of your ad.

Hardly anyone buys the house in the ad.

As a result, you need to get other agents interested in your property, and this is where your listing agent comes in...and why a good listing agent is extremely important. The listing agent gets buyer's agents looking at your home.

Those agents have clients who called in on other properties.

Buyer's agents are not swayed by advertising. They look at the needs of the client, where the client wants to live, location, condition, and other details of the property...
And most importantly....
...price.

If your house is overpriced, agents are going to show similar homes that are priced more attractively. Your listing will get passed over.
Agents pay MOST attention to homes newly on the market. There are fewer NEW listings than current listings. It is easier to keep an eye out for what is NEW, compared to the vast number of current listings.

New listings are on the "hot" sheet circulated in real estate offices. The MLS computer identifies new listings. Your listing agent may hire a service to distribute fliers to all the buyer's agents. There are office previews and MLS tours to showcase new listings. A lot of attention is focused on what is NEW.

With agent's looking at newly listed homes so aggressively, a properly priced home gets attention.

An overpriced home gets passed over.

You may be thinking, "But I'm willing to negotiate!"

Buyers aren't thinking in advance about how much you are willing to negotiate. They are comparing your asking price to other asking prices.

Plus, when your house is new on the market, you may not be willing to negotiate as much as you will later, once you've realized your error. Keep in mind that statistics show, quite often, the first offer is the best offer.

So what happens if you overprice in the beginning and get more realistic later?

You don't have all those important Buyer's Agents looking at your listing because it is NEW. A price reduction later in the listing cycle often gets overlooked. It is just one of many listings, not one of a few new listings.

As time passes, you could actually become desperate to sell because you've accepted a new job or because you have already bought a new home.

That is a recipe for receiving lowball offers, so you could end up selling for less than if you had priced the home correctly in the first place.

Agents know this stuff, but many sellers still mistakenly believe they should "price it high" because they can lower the price later, if necessary.

That is not the best strategy.

The Interactive Advertising Bureau and PwC released their third annual study of advertising revenue in podcasting last week. Although the studys headline is yet another year of steep growth, the numbers show that growth has peaked and is slowing down. The numbers show that podcasting will need to find other sources of revenue if its commercial viability is ever going to be proportional to its growing listenership.

The study indicates that podcast advertising brought in $479 million in 2018 and estimates that it will scrape past $1 billion by 2021. Last year's revenue is a 53% increase over 2017, but growth is expected to slow down to about 20% in a couple of years.

These numbers are much lower than those from other forms of ad-supported online audio content. PwC's Global Entertainment and Media Outlook last year estimated $1.65 billion in ad revenue for internet streams of AM/FM radio stations in 2018, growing to $2.2 billion by 2021.

complete article

Johanna Zorn is leaving the Third Coast Festival. The executive director and co-founder of the Chicago-based audio documentary conference will be departing in the fall, and the search for her replacement will kick off later this week. The move was announced Wednesday through a letter published on the Third Coast website.

Obviously, this is a major development for the beloved conference, which has become one of the most, if not the most important gatherings for radio and podcast producers since its founding almost two decades ago. Third Coast grew particularly quickly over the past few years — tracking the growth spurt in the audio world around it — the biggest expression of which was the decision to shift the festival towards an annualized schedule in 2016. (It was previously held every two years.)

complete article

Apple is on the prowl. Months after Spotify shelled out $500m on two podcasting start-ups, Apple executives are said to be contacting media companies in the hope of funding original content and brokering exclusive deals.

This new phase for Apples streaming service comes at a time when audiences for voice-based programming are growing rapidly. In the past five years, weekly listeners have doubled in the UK, as have monthly audiences in the US. It is not surprising that technology companies are focusing on podcasting and making the medium easier to access. Apple has introduced full-text podcast searches on its Podcast app and Google has made them appear in search results. Spotify launched a voice assistant.

complete article

Over the past few years, there have been a number of major developments within the advertising world, but one of the most fascinating is the tremendous growth of the podcast. Podcasting, by many measures, is clearly on the rise. As the fortunes of podcasts rise, so too do those of individual podcasters, who have legions of devoted fans looking forward to their next episodes. Podcasting has created a new type of influencer, one who has the ability to reach people wherever they are, whether it’s at home, in their car, or during their daily commute.

complete article

Publishers took the medium mainstream, and shouldn’t let a tech platform take all the profit. Mary Meekers recent Internet Trends report showed that 70 million Americans listened to at least one podcast per month in 2018 – more than triple the number from a decade before. That should represent a massive opportunity for publishers who produce high-quality podcasts like The Daily and Fresh Air.

Podcasts are anything but new.

complete article

Nielsen has launched Nielsen Podcast Listener Buying Power Service, an analytics tool providing insights matching podcast listeners by genre with their buying habits.

The tool is placed to help pair podcasts with advertisers by detailing the interests and expenses of audiences.

The product, from Nielsen Scarborough, launches with iHeartMedia, Cadence13, Stitcher, Westwood One and Cabana as clients.

Clients will be able to profile shows using program titles collected from subscribers. In order to connect specific types of listeners with particular advertisers and specific program-level insights - built from a sample of 30,000 respondents.

complete article

A good podcast starts with compelling material – but according to Tyler Moody, VP & GM, WarnerMedia Podcast Network, that’s just the beginning. To launch a successful podcast, Moody says you need:

1.   Content: In a democratized media world content is still king. Maybe more so than ever. The product you deliver to your audience has to be top quality and deliver on its promise.

complete article

This year brought seismic changes to the podscape—splashy, big-money acquisitions by companies like Spotify, uneven, big-money débuts by players like Luminary—and, above ground, a healthy crop of reliably good, bountiful content. New daily-news shows arose beside the stalwarts; impeachment podcasts sprang up. History podcasts brought perspective, music podcasts brought joy, and one of my favorite podcast genres—the locally produced NPR-style narrative investigative series—continued to flourish.

Best Podcasts of 2019

It is well-known that podcasting is huge these days. But you might not realize how many educational podcasts are out there.

By educational, we mean shows that focus on some super-focused topic, like a specific period of history or an academic discipline. For instance, there are at least 15 or 20 active podcasts about linguistics, and there are several podcasts out there about conversational Latin (and we were pretty sure that was a dead language that was no longer spoken).

A Podcast for Every Discipline? The Rise of Educational Audio

The U.S. podcast market has been on the rise for years, but 2019 marked an extraordinary year of growth for the space.

At least 90 million U.S. consumers (27% of the population) listen to podcasts monthly, up 23% from 73 million in 2018, which is an acceleration from the 9% year-over-year growth monthly podcast listening experienced last year, according to Edison Research and Triton Digital.

Top 19 Media Trends of 2019: The Podcast Boom

More than half of the U.S. population over age 12 has now listened to a podcast, according to Edison Research. The medium has fundamentally altered the landscape for audio content, liberating and empowering both listeners and creators. And big acquisitions such as Spotify’s purchase of Gimlet Media signal that the business of podcasting is coming of age, too.

But there remains an economic gulf that some entrepreneurs and investors see as an opportunity. Ad spending on podcasting is around $500 million, by some estimates, but that compares to $17 billion or more for radio.

So where is podcasting heading next? How will speech recognition, smart speakers and other innovations change the landscape for podcasts? Should you start your own show? Could you make any money if you did?

The future of podcasting: Can the business of audio content catch up with the creative revolution?