The Benefits of a Virtual House Tour When Selling Your Farmington Hills MI Home – Most traditional open houses are on hold, and in-person home showings are limited, as people practice social distancing to help stop the spread of COVID-19.
The pandemic has accelerated the demand for remote accessibility as home sellers have had to pivot to technology and virtual methods in order to sell their Farmington Hills MI homes and properties.
With gatherings of more than 10 people prohibited across most of the U.S., real estate agents have been forced to cancel open houses. But many are using tools like FaceTime or Zoom to host live virtual open houses so they can show potential buyers around a home.
Virtual tours in real estate are nothing new. For at least a decade now, some form of the technology has existed to help agents break away from the usual static photos, drive traffic to a listing, and cater to long-distance buyers.
As a home seller, you want to sell your home quickly and efficiently. Virtual and video tours have become essential tools for buying and selling homes. A virtual tour allows potential buyers to view properties completely online using 3-D and 360-degree photography and video.
Home sellers can give buyers an in-depth look at their property without having to actually open their doors – risking the buyers’ health (or their own). A virtual tour allows your home to be on display around the clock.
The Difference Between a Virtual Showing and a Virtual Open House
A virtual showing is a video walkthrough that allows an online buyer to feel like they are touring the house in person. The virtual showing is prominently featured in the online house listing and can also be promoted via social media. Homebuyers can then view and share the video at their convenience.
A virtual open house is an innovative alternative to the traditional open house, as the threat of COVID-19 can be an obstacle for homebuyers who don’t want to view homes in person as well as sellers who don’t want a lot of people walking through their home.
An agent can guide prospective buyers through the home virtually at a specific time and date as if they were physically present and can answer questions in real-time, providing a more interactive experience.
The agent can advertise a virtual open house by contacting potential buyers and their agents and promoting the event just as they would a traditional open house.
Here are the advantages of choosing an agent who can add a virtual showing or a virtual open house tour to your home marketing plan:
Virtual open house tours allow homebuyers to view your property when it works for their schedule. Plus, for buyers relocating from another area, it eliminates the need for multiple trips, saving them time and money.
From bad weather to unprecedented events like the global coronavirus pandemic, physical open houses can be canceled, wasting a lot of time and effort. With a virtual showing, you don’t have to worry about the unexpected.
A virtual showing makes it possible for people across the world to view your property in greater detail, expanding the potential buyer pool.
Traditional open houses can attract people who aren’t actually in the market for a new home. When your open house is virtual, this won’t be an issue.
Potential buyers have a better sense of whether the home is a good fit before they even contact you, so you’ll get more serious inquiries.
An innovative and experienced Farmington Hills MI REALTOR® like Tom Gilliam, who is ahead of the curve and already using this technology, provides a clear advantage for his clients. If you’re planning on selling your Farmington Hills MI home sooner than later, a high-tech approach to marketing your home is a must.
Partner with Top-rated Farmington Hills and Oakland County MI REALTOR® -Tom Gilliam for Unmatched Expertise in Buying and Selling
A top-rated Farmington Hills and Oakland County MI real estate agent like Tom Gilliam can show you more properties and save you thousands of dollars when buying a home. You need an agent who knows the area, processes a vast network of local connections, and has the skills to negotiate like a pro.
From first-time homebuyers to multi-million dollar investors, Tom continually strives to provide top quality service for his clients. With access to the most up-to-date MLS listings for Oakland county MI properties, Tom is able to match your lifestyle needs with the perfect home.
If you are ready to list your current property, Tom has the experience and skills necessary to handle the sale and marketing of your home for the best possible results. Tom employs the latest technology to deliver massive exposure and drive maximum response from qualified buyers.
Tom also partners with the most talented home stagers to ensure that your home is thoughtfully staged to showcase its features and amenities. With over 25 years of local real estate experience, Tom will protect your interests, advocate for you, and go above and beyond your expectations to ensure a smooth and successful transaction.
If you or someone you know is interested in buying or selling real estate in Farmington Hills or Oakland County MI, please give Tom a call today at 248-790-5594 or you can get in touch here.
Tom Gilliam, REALTOR®
29630 Orchard Lake Rd.
Farmington Hills 48334
Email: Tom @ Homes2MoveYou.com
As a homebuyer looking for homes in the Oakland County, Michigan area you may find yourself asking what property is included in the sale of the home, so this is to give some clarification on the topic of personal verse included property. Although your realtor would know exactly what is included and excluded with the sale of the home, but you should be aware as well when searching for a new home especially if you are a first-time homebuyer. Keep in mind attention to the details is a must to prevent a disagreement between the home seller and home buyer at time of the final walk-through and what was included in the sale of the home.
Knowing the difference between what’s included in the sale of the home and what’s excluded
First things first, when a homebuyer receives the listing ticket or reads the description it should state what is included in the sale of the home and also it should state exclusions as well to prevent any misconception of the buyer’s expectations of what included in the sale of the home. Many times, the issue or confusion can be addressed before or after the showing by the homebuyer, but can still arise after seeing the home days later. Basically, anything that is fixed to the property is included in the sale of the home unless otherwise stated in the description or directly from the home seller.
What are examples of fixed items that are included in the sale of the home
As a homebuyer you may need examples on what property is included with the sale of the home in order to make a homebuying decision. Some Include:
These are just some examples of things that are “Nailed Down” or attached to the home that in most cases are property that is included in the sale of the home, but as I mentioned their may be some exclusions to some of these items if stated by the home seller. It is best to discuss this with your Realtor as each home is different.
What if I wanted something in the home that is excluded and not attached?
Normally if something is excluded and not included in the sale of the home means the home seller is not willing to part from it, but your Realtor at time of writing offer could ask on your behalf to include it in the sell. An example would be something like a hanging mirror that you think looks great with the home and you as a homebuyer would like to have it. The best option is for the home seller to avoid property that is not included in the sale of the home be removed and replace the property before starting to show the home for sale.
It is my hopes that this helps with both homebuyers and home sellers understand what property is included in the sale of the home. Remember that I’m always here to help in all of your real estate needs and services. You can call or email me anytime [email protected] or 248-790-5594
In today’s Oakland County Michigan housing market it is important now more than ever for home seller offers to respond to a buyers offer for purchase of their home, usually the time frame would be within twenty four hours which allows for the home seller offer to have plenty of time to be reviewed,considered and possibly allow time for the listing agent to review with their home seller as well. Although the twenty four hours is the standard, there are times that this is not possible as some home sellers are out of town,family issues or other events that may prevent them from being able to respond within the time frame which would require your real estate agent to write an extension which would allow more time for the review of the home sellers offer.
Although the timing may change for your sellers offer to get reviewed and the home buyer will most of the time understand that this is a process and their offer may take a little longer to get an answer, there are other issues to look out for. Unfortunately we have home sellers that have multiple offers in hand and seem not to be in any hurry to accept and of the seller offers that they have and you may wind up as a home buyer getting into a highest and best offer situation, its always best if your buyers agent ask beforehand if their are other offers on the particular home your trying to purchase. Most realtors will tell you if they have multiple seller offers on a particular property. As your realtor we will inform you on the best ways to handle this situation if it arises while presenting your offer the the sellers agent.
Lets Breakdown The Sellers Offer Process
When a home owner receives a legitimate home seller offer in writing, the seller can accept the offer, reject it, make a counteroffer, or do nothing. While the home owner is not legally bound to respond, if a seller doesn’t respond in a timely fashion, the buyer might become irritated and lose interest in the property.
Protection For Home Buyer and Seller Offers
Most real estate contracts contain an expiration date. If the seller doesn’t respond to the seller offer by the specified date, the agreement becomes null and void, unless the buyer agrees to reopen negotiations
Advice For Both Home Buyer and Home Seller With Offers
As a seller, your response time might defer depending on market conditions. Responding quickly makes sense in a down market, whereas responding slower in a thriving market could give the seller more time to receive multiple offers. A good practice for both buyers and sellers is to respond to any offer or counteroffer quickly and decisively unless circumstances warrant otherwise.
Remember buying or selling a home is one of the most important financial decisions you can make in a lifetime. It would be my pleasure to assist you in all of your home buying and home selling needs here in Oakland County, Michigan, please feel free to call me anytime 248-790-5594
Setting The Asking Price For Your Home-Whats It Worth
As the seller, you are often going to have trouble with setting the asking price for your home. If it’s over priced, it will sit on the market for too long and if it is under priced, you might not get any money back on the renovations you just made.
This is why it is important to consult a real estate agent before proceeding with any sort of real estate decisions. They have all the resources, which you don’t have access to and they can easily find any information they need. There are many factors that you need to consider before setting the asking price for your home and you can do so easily with a real estate agent by your side. You see… the first thing buyers notice when they see the listing is the price of the house. If they find it too high, they don’t even bother to look at the pictures of the house.
There are hundreds of websites that will give you an accurate estimate of your house based on its details such as square footage, number of rooms, location and more. A free evaluation gives you an idea what your home for sale in Oakland County, Michigan is worth. You can get as many evaluations as you like and then compare the prices. This will give you a solid idea regarding the prices in your neighborhood .
Let’s assume that your neighbor just sold his house. The location and the square footage of the neighbor’s house put your house at equal footing. So, you decided to sell your house at the same price. Months go by and many buyers tour the house. However, none of them come back with an offer. Why?
This brings us to our second point:
Look at the Comps
Comps refer to comparable houses that you can look at to set the asking price that suits your home for sale in Oakland County, Michigan. House that have been sold last month and were identical to yours with no additions can be used as compass. The good news is, a real estate agent has a whole database of comps, which makes it easy for him to help you set the asking price. You can find information on your own too by taking with the locals and other neighbors in your area. In the end, regardless of what the real estate agent recommends, you will have the last say on the asking price. However, it is better to trust the agent because they have sold dozens of houses, which is what makes them experts at their job.
Sometimes, your house might be valued at a lower price than you expected. It’s hard to not get emotional in such a case, but it is also important to think practically in such situations. This is where a real estate agent comes in because they have an unbiased perspective. Looking for a real estate agent to help with your house sale? Visit my website Homes2MoveYou now and contact me for a free evaluation of your home to get an appropriate asking price for your home.
When you’re in the business of helping people buy and sell homes — arguably the largest investment of their lives — it goes without saying that there’s a lot at stake. While real estate agents are typically unflappable pros who, in many cases, have experienced just about every scenario you can imagine, there are still some things that strike fear into their hearts.
In the spirit of Halloween, let’s take a look at some of the most terrifying statements clients make that leave agents trembling.
1. “We’re having second thoughts…”
Of course, it’s not uncommon to have a home buyer or seller get cold feet or have pre-purchase or pre-sale jitters, but after investing plenty of time and effort in a potential sale, the thought of a deal falling apart can be horrifying for any agent. Talking skittish clients through their anxieties, both real or embellished, is often part of the job, but that doesn’t make it any less scary.
2. “My parents, aunts, uncles, and cousins would like to see the place…”
It can be tough enough to get a single client or a couple to agree on a property they love and want to buy. Once clients decide to invite their extended family to sneak a peek, they — and their agent — are bound to get more questions and opinions than anyone’s prepared to handle. Taking a large group on a home tour can end up being an agent’s personal horror show.
3. “I’m going to stick around for the open house in case buyers have any questions…”
Having the seller on the premises makes it challenging and sometimes awkward for prospective buyers to speak freely and get all of their questions answered. Agents know how to get the home sold, which is why sellers hire them in the first place. Even if the property owner thinks he or she is being helpful by sticking around, chances are this notion leaves agents shaking in their shoes.
4. “I lost my job…”
Unless a buyer is prepared to pay in cash, sudden unemployment can wreak havoc on a home purchase. When borrowers apply for a loan, they’re required to disclose their employment status and provide pay stubs, typically for the last 30 days. Without reliable income, the ability to secure that loan can disappear faster than balloons from an open house sign.
5. “I just bought a brand new car!”
Similar to the above scenario, making one big purchase before making another larger purchase can, and most likely will, change your debt to credit ratio. If you can hold off on any substantial expenditures until after your closing, your agent will sleep better at night.
6. “Our pet snake got loose this morning. But we’ll find him before the open house starts!”
From staging to marketing, preparing for an open house is already a daunting endeavor. The thought of pets potentially sending would-be buyers running back to their cars is terrifying. Even if a client’s pet boa constrictor is securely corralled, having animals at a showing can be a frightful faux pas.
7. “There’s something I haven’t told you…”
Got a leak? Termites nibbling away at the foundation? A lien against the property you’re hoping no one will ever find out about? Think again. Your agent needs to know everything up front. Secrets (or “surprises,” as clients like to call them) can freak out even the most poised agent — because if someone’s not disclosing one thing, it’s a safe bet there are other shockers that’ll make themselves known at the worst possible time.
8. “Is your commission negotiable?”
Sure, meeting new people and touring homes can be exciting, but not so much that an agent wants to do it for free. Hearing a client try to haggle with a hard-working agent can often be a telltale sign that they’re going to be challenging to work with and not appreciative of all that goes into a home sale or purchase.
9. “My friend is an Agent!”
After spending time helping prospects, hearing the dreaded “Oh, thanks, but we have a friend who’s a Realtor” can send an agent into a panic. Rather than pointing out how much work has already gone into the process, a savvy agent can outline the inherent risks of mixing business with pleasure. Realtors can also keep things professional by explaining their unique skill set and why they’re the right agent to help seal the deal.
About Realtor Tom Gilliam
Realtor-Tom Gilliam is your expert to buy or sell your home in Oakland County, Michigan, the Oakland County community’s number one Realtor. In Oakland County, Michigan, you need to find a Realtor who knows the community.
Tom Gilliam currently lives in the Oakland County Area and is very familiar with the market, neighborhoods, schools and community issues. His office is located into the heart of Farmington Hills, with five additional offices throughout the south east metropolitan area to serve his clients real estate needs.
Tom is always ready to help families find the perfect home in the Oakland County area including: Farmington Hills, Novi, Birmingham,Troy, Rochester Hills, West Bloomfield, Bloomfield Hills, Ferndale, Royal Oak, Northville , Novi, Troy, Rochester and Rochester Hills to name a few. Give me a Call 248-790-5594
The Great Recession was one of the most challenging times in US history and in the Oakland County area. The US lost nearly 9 million jobs, unemployment nationwide hit an astounding 10%, and housing prices fell a whopping 33%, causing American households to lose of $16 trillion dollars in net worth also losing their homes value.
After the housing crisis of 2008, many homeowners found themselves “upside down” on their properties, with their mortgage balances significantly higher than their homes value. According to Zillow, negative equity in the US peaked 31.4% in Q1 of 2012, meaning nearly one-third of all mortgage holders in the US owed more on their homes than it was valued.
But luckily, the economy started improving in 2010. The GDP grew an impressive 19% from 2010 to 2017, and the economy added jobs for a record-breaking 88 consecutive months, recovering all the jobs lost during the recession. Not to mention, unemployment fell to 4%.
But one area that was a bit slower to recover was peoples home values. Many homeowners who lost a significant portion of their home’s value in the recession have been hesitant to sell—especially if they purchased their home when prices were high.
But according to Evaluating The Housing Market Since The Great Recession, a recent report from CoreLogic, homeowners who lost value in their homes during the recession finally have something to celebrate. According to the report, the average house price is now 1% higher than it was at the peak of the real estate market in 2006, growing 51% since bottoming out in 2008.
The Homes Value Takeaway
If you’ve been waiting to sell your home for it to recover its pre-recession value, now is the time to make a move. Not only have housing prices recovered to their peak values, but the inventory crisis is driving up prices, making it the perfect market to finally sell your home.
As an Oakland County Michigan Professional Realtor I take pride in my knowledge of the current market conditions in all of the region’s micro-markets, and I offer my clients an intimate glimpse into the neighborhoods that might become their next home or one they sell a home in.