MichaelPennisi's Blog: All Categories

Dear Real Estate Webmasters,

After creating the Best Techniques to Gain Business from Expireds/ FSBOs post I decided that the next logical progression would be to focus on gaining business from Open Houses.

I truly believe in the spinning plate philosophy of real estate. Unfortunately, I forget who developed this theory, otherwise I would give him/her the credit they deserve, yet it's based on the idea of gaining business from a number of different activities. To be successful is like "spinning plates" because you must give time to each activity or plate in order for the business or act to work. FSBO/ Expired are definately one of these plates, yet Open Houses may be the easiest if done efficiently.

When I first began in real estate I started hosting…

5 Things You May Not Know About Buying a Summit, NJ Home

Dear Real Estate Webmasters,

Let's face it, gaining the trust of a seller who has previously expired is not easy and becoming a FSBO's Realtor is largely based on timing. As if Realtors love the up hill battle we hurdle these obstacles daily always adding another layer to our already thick skin. The most difficult part about the expired/ FSBO business is that every seller is different and thus not everyone will respond to the same type of technique. In fact, depending on which part of the country you are in, a given technique may work or not.

Considering the large number of variables dictating whether a lead generating technique is successful it's safe to conclude that there really is no right answer. Instead we are left with the opportunity to test out…

Real Estate is the World's Largest Man Made Wave Pool

I know the title may seem a bit odd. Maybe even a little crazy, yet you'd be surprised how true it is. Consider the ebb and flow of any market; real estate, stocks, bonds, etc. Markets are alive and rise and fall with the times. Real estate is the largest of these markets because everyone needs a place to live. Not everyone invests in the stock or bond market. Now that we've established the analogy and labeled real estate the king of all man made wave pools, let us take a closer look at how this ridiculous statement makes complete sense.

The Rise and Fall of the Real Estate Wave

Similar to the economy real estate is cyclical. This means that it will pass through phases only to return to the same…

 Today I had the opportunity to read “The Dark Side of Good Home Staging” an article featured in the September 21, 2007 issue of Realtor Magazine Online. In the article the writer discusses a report by the National Association of Exclusive Buyer Agents (NAEBA) which attempts to analyze home staging from a buyer’s perspective. Although the Realtor Magazine article was well written and objective I was interested in reading the source document to better understand the point NAEBA was trying to make.

NAEBA’s report entitled “How to not get tricked by staging, and potentially save $5,645 when you buy a home” explains home staging as a two headed dragon made up of two distinct entities; basic staging and emotional staging. NAEBA goes on to explain basic…

Please read Part 1 of this Blog before continuing.

First and foremost I find it absolutely ridiculous that NAEBA could caution buyers that many staging professionals, agents, and sellers would use staging to conceal structural defects. Sellers are obligated to list any known structural issues within their seller’s disclosure. This document is then given to buyers before any offers are made. I realize that certain sellers choose not to fill out a seller’s disclosure, yet these homes should be red flagged regardless of home staging.

Using the NAEBA example, which included a structural issue, disclosed by the neighbor, the seller must have had past knowledge. This means that had the staged home been purchased under false pretenses the buyer could have…

I recently researched and developed an article about the decision between using a Realtor or selling a home for sale by owner. FSBOs avoid commission, but at what cost? This looks at the FSBOs versus Realtor question from different aspects and incorporates statistics and facts rather then just opinion. Ideal for Realtors and Sellers alike.

Unfortunately the article is far to large to post it to a blog. In fact  I would have been forced to paste the article in segments which would have taken up numerous posts. In order to make this article more easily accessable I decided to create a User page with it in its entiriety.

I did, however, want to ensure that members of Real Estate Webmasters were aware of its creation because I look forward to any feedback…

Home Staging Tricks and Advice 

For those of you wondering what exactly staging a home consists of here are a few of the basic home staging suggestions typically needed in most homes.

Clutter – Every homeowner is proud of the possessions within their home.  It is completely natural to feel this way because these are the items, collections, furniture, and hobbies that are acquired over an individual’s life. Although each of these items may carry a sentimental value to the owner none of this may apply to a potential buyer. In fact in certain instances a seller’s possessions may push potential buyers away. Keep in mind that the fewer buyers the lower the price because when demand is diminished price will follow. Consider this example for a better…