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ri Top 3 Dangers of Overpricing Your Home By access1000.blogspot.com Published On :: Thu, 6 Jul 2006 16:23:00 -0700 by Mike Carraway, Access Realty, Birmingham, ALA 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 #1Pricing 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 #2Traffic 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 #3Your 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 Full Article
ri How to Sell Your Home when Prices are Falling By access1000.blogspot.com Published On :: Thu, 27 Jul 2006 18:02:00 -0700 I guess it's now official. The real estate bubble has burst. When the inventory figures for homes show they are going up nationwide AND it's in the national media, you can be sure that it's already been happening for a few months now. The NY Times and Jouranl and just about every other news outlet decided today that it was a story - so I guess it's official.Those of us in the real estate business have known it for the last 3 months and we could have told you so. We have sales figures and "time on market" statistics that can back up our claims. We have been telling successful sellers what's happening and how to price their homes accordingly. Now - 3 months later, the media is catching on.The story is that the supply of homes on the market is rising and the number of buyers isn't. What that means to you is that your home will sit on the market longer without selling. In fact, two of the articles I've read state simply that it would take over 6 months to sell all the homes currently for sale. What they leave out is that more homes come on the market every day, further increasing the glut.As the number of homes on the market increases, it takes further price reductions to get some of those homes to sell quicker, which, in turn, lowers the reflected market price of all homes. Sellers will wait and wait and then lower their price - too late. What they don't realize is that they are chasing the market down. The market price of their home goes down and then they lower their price just above the market price and wait. While they wait, the market price goes down further, putting them farther and farther away from the market value, until they lower the price again.So, as a seller, what should you do right now?Simple, lower your price to a point that is BELOW the current market value. Ask your agent to take some time and do a good market analysis to get a feel for what your home is worth right now. Then, price it below that number. If you do this, you will have hungry and willing buyers lining up to make offers on your home... but only for a short time in a falling market. If you wait too long, and the market coninues to drop, then you will be priced above the market again and have to reassess the situation.The smart thing to do is price your home low and let the market come to you, rather than chasing the market down. One strategy results in buyers, the other results in foreclosures. But you have to decide which strategy to persue. Full Article
ri THERE IS A SERIOUS SHORTAGE OF HOME SELLERS! By access1000.blogspot.com Published On :: Tue, 30 Oct 2007 11:36:00 -0700 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 CarrawayBroker/Owner WEICHERT, REALTORS - Access Realty1100 East Park Drive, Suite 104Birmingham, AL 352351-800-840-0165WEICHERT, REALTORS - Access RealtyValleydale Branch4500 Valleydale Road, Suite 160Birmingham, AL 35242205-995-393924/hr Info: 800-634-051124/hr Fax: 800-634-0511www.Access1000.comwww.Weichert.comwww.AlabamaWebPage.comwww.TakeOurTest.comwww.BirminghamRealEstateSchool.com Full Article
ri Should You Start Off With A High Sales Price? By access1000.blogspot.com Published On :: Wed, 4 Jun 2008 04:48:00 -0700 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. Full Article
ri The Chinese Podcast Industry is Not really podcasting as Americans think of it, but it is fascinating By www.podcasting-tools.com Published On :: Fri, 12 Jul 2019 13:19:43 -0400 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 Full Article
ri The challenge for music and podcasts: Rights are a disaster By www.podcasting-tools.com Published On :: Wed, 17 Jul 2019 13:26:46 -0400 There are big opportunities for the music industry in podcasts, but one of the big barriers is licensing: the cost and complexity for podcasters of securing the rights to actually play music in their shows. complete article Full Article
ri Here Is why Apple is seeking exclusive podcast rights By www.podcasting-tools.com Published On :: Wed, 7 Aug 2019 09:10:49 -0400 In recent months, the tech giant has reportedly reached out to media companies about such deals, per Bloomberg. We do not know what kind of companies Apple is engaging with (indie production studios or established networks), and we do not know what sort of shows they are targeting (hits like Serial or brand new projects), per Hot Pod. Top Podcast Consumption Apps Business Insider Intelligence What this move is about: Apple likely views exclusive originals as a way to protect its dominance of podcast listening, which has slipped in recent years as rivals like Spotify bear down. Complete article Full Article
ri Nonfiction Writers Now Have Their First Podcast Publicity Agency By www.podcasting-tools.com Published On :: Thu, 26 Sep 2019 18:28:18 -0400 Audiobooks and podcasts have been sky-rocketing in popularity over the past three or four years. In 2019, the number of Americans who had listened to an audiobook passed 50%, a first for the medium. Podcasts are also on the rise, with investments from companies like Spotify and Pandora further encouraging a virtious cycle of audience growth and a broadening pool of podcasters. complete article Full Article
ri Podcasting Is Radio’s Birthright By www.podcasting-tools.com Published On :: Mon, 4 Nov 2019 18:45:45 -0400 iHeartMedia has been the radio industry leader when it comes to podcasting. From purchasing How Stuff Works, to The Ron Burgundy Podcast with Will Ferrell, to slapping a full day of podcasts on its radio stations, iHeart has not been afraid to take risks with this fairly new medium. So what does Bob Pittman think about it all? complete article Full Article
ri A Podcast for Every Discipline? The Rise of Educational Audio By www.podcasting-tools.com Published On :: Mon, 20 Jan 2020 17:00:32 -0500 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 Full Article
ri The Publishing And Podcasting Industries Are Getting Even Cozier By www.podcasting-tools.com Published On :: Wed, 29 Jan 2020 17:50:36 -0500 The audio technology company Voxnest owns the podcasting platform Spreaker. The Italy-based StreetLib is a digital book distributor. Last week, they teamed up for a symbiotic relationship that will let StreetLib’s book publishers create podcasts and Spreaker’s podcasters create and distribute digital books or audiobooks. The Publishing And Podcasting Industries Are Getting Even Cozier Full Article
ri Spotify Wrapped extends to add your favorite music from the decade, plus podcaster metrics By www.podcasting-tools.com Published On :: Fri, 7 Feb 2020 17:59:47 -0500 As 2019 moves to a close, Spotify is giving its yearly version of the personalized Spotify Wrapped, as well as a unique one that showcases your listening records through the last decade. That indicates your Wrapped will add the songs, artists, albums, and podcasts you found on Spotify in 2019, plus the artists you streamed across the past decade, by a My Decade Wrapped option. Spotify Wrapped extends to add your favorite music from the decade, plus podcaster metrics Full Article
ri Apple Could, And Should, Create Original Podcasts By www.podcasting-tools.com Published On :: Fri, 28 Feb 2020 18:29:23 -0500 For years, Apple has been the forefront of podcasting. While audioblogging had been around for a while, there is an argument that it was Apple that really invented what we know as a podcast with the introduction of the iPod. Without doubt it was its innovations that sent it mainstream. complete article Full Article
ri Maker of Hit Podcast Serial Explores Sale By www.podcasting-tools.com Published On :: Tue, 10 Mar 2020 18:37:25 -0500 The company behind the hit true-crime podcast Serial is exploring a sale, according to a person familiar with the matter, putting one of digital audios biggest brands on the market as the medium becomes increasingly popular. complete article Full Article
ri Spotify seals podcasting deal with the Ringer By www.podcasting-tools.com Published On :: Thu, 12 Mar 2020 18:39:01 -0500 Spotify, the Swedish music and audio streaming giant, has extended its reach further into the growing podcast market with its formal acquisition of the Ringer, a US sports and pop culture platform. Although Spotify announced the acquisition at the beginning of this month, more details of the deal emerged this week in a filing with the Security and Exchange Commission. complete article Full Article
ri Spotifys paid subscribers accelerate as podcast listening grows 200 percent By www.podcasting-tools.com Published On :: Thu, 26 Mar 2020 18:48:18 -0500 Spotifys continued investment in podcasts appears to be paying off, after the company reported that podcast listening has increased by 200 percent year-on-year in its fourth quarter earnings today. The company says it now has over 700,000 podcasts on its platform, and that over 16 percent of its users now listen to podcasts. Spotify says the amount of users paying for its premium tier increased to 124 million. complete article Full Article
ri Protect Your Mental Health By Podcasting With Friends By www.podcasting-tools.com Published On :: Wed, 27 May 2020 18:45:44 -0400 Storytelling is powerful. With the influx of media—both social and traditional—getting consumed in a 24/7 news cycle can be overwhelming and optional. The concept of time seems irrelevant lately leaving our fingertips free for endless scrolling, a particularly slippery slope for mental health during this global pandemic. Individuals, families and communities worldwide are learning how to grapple with the effects of a changing social paradigm, seeking ways to stay connected and safe. Adaptability during this new paradigm is key and many tech companies are stepping up to the plate to perfect, iterate, and improve on products to keep up with a new normal and compete in an evolving landscape. Full Article
ri Amid Spotifys Aggressive Podcast Push, Apple Seeks Exec To Oversee Audio Originals By www.podcasting-tools.com Published On :: Wed, 24 Jun 2020 15:44:28 -0400 In the wake of a seismic deal in the podcast industry that will see top host Joe Rogan bring his show exclusively to Spotify for a reported $100 million, Apple — which will lose distribution of Rogan’s show come 2021 — is revamping its own podcast approach. According to Bloomberg, Apple — an early distribution platform for podcasts that is also the largest hub for the medium stateside — is now seeking an executive to lead development of original audio series. The exec would report to Ben Crave, Apple’s head of podcasting. Full Article
ri Blubrry Offers Private Internal Podcasting Options By www.podcasting-tools.com Published On :: Fri, 10 Jul 2020 18:26:43 -0400 Blubrry has released its new Private Internal Podcasting service for businesses looking to lock down their podcasts to protect them from public distribution. The hosting service is offering three levels of security based on three hosting plans, simple (limiting private podcasts to 50 user-seats), standard (additional security and 200 user-seats), and enterprise (500 user-seats, most secure). Full Article
ri New York Times and Serial By www.podcasting-tools.com Published On :: Thu, 30 Jul 2020 09:29:06 -0400 New York Times Co. said it would acquire Serial Productions, the maker of the hit podcast Serial, a deal that aims to further the newspapers podcasting ambitions. Terms of the deals were not disclosed, but the transaction could be worth as much as $50 million depending on milestones and performance metrics, a person familiar with the matter said. Full Article
ri Podcasting to Break Billion-Dollar Barrier in 2021 By www.podcasting-tools.com Published On :: Fri, 31 Jul 2020 10:31:35 -0400 Theres good news on the horizon for podcast revenue growth, and presumably for radio organizations that are active in that space. With expected growth of 14.7% through 2020, the stage has been set for podcast revenues to hit $1.1 billion in 2021, according to the IAB/PwC report. While it remains to be seen what long-term impact the pandemic has on podcast revenues, IAB/PwC still predicts a 15% jump in 2020. This comes after podcast ad revenues soared 48% between 2018 and 2019, a stunning growth rate. Full Article