The Lee Tessier Team Receives National Attention as Real Estate Expert Advisors Aired on NBC, ABC, CBS and FOX

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On a recent television show “New Masters of Real Estate”, we were fortunate enough to have been showcased as an expert in the industry by the National Association of Expert Advisors. During that interview I was asked to share some key points as to what makes a strong real estate professional stand out from the rest. We thought this would be valuable information for our clients (both existing and future clients) so here is a recap of what was discussed on the show.

Gaining Strength In Numbers

One of our biggest assets is the ability to serve our clients with a uniquely specialized team that is dedicated to serving specific service areas. When we get an incoming inquiry, the first thing we do is to gain as much information as possible to learn the areas within which the client requires assistance. Like the triage in a hospital, our designated team member then directs the client to the appropriate person on our team.

Getting the Word Out

The single biggest mistake that many agents commit is not properly marketing their clients’ properties. We realize that marketing is the key component to getting a home sold so we place a heavy emphasis on that aspect of the business. In fact, we spend thousands of dollars each month on marketing alone – more than what many agents make in any given year.

Most agents do what I call the “three P’s”; they PUT a sign in the yard, PLACE the home on MLS and then PRAY the home sells. Not only do we spend plenty of time preparing the home before even listing it on the market, we also work to reach our extensive buyer database to match the right buyer with the home. Additionally we actively market the property by placing it on multiple websites. Rather than straight photographs we hire professionals, both photographers and videographers, to take High Definition images of the home.

Putting Our Expertise to Good Use

There are basically two categories in terms of real estate agents. There are either those 10% that do 90% of the work or the other way around. At the present time, in Baltimore and Harford Counties approximately 40-50% of homes are not selling. In an ongoing month, 10% are selling. Would you rather be in the group that is seeing success or have your home sit around for months on end?  Our team ensures that positive result and we do it through years of experience and expertise. In fact, we recently took two homes that were on the market in excess of 200 days and we sold them within 17 and 21 days respectively.

Another aspect of our specialized attention to our clients’ needs is that we don’t just perform market comparisons to help determine your selling price – we go out there and get to know the neighborhood thoroughly. We know and understand market conditions and act upon them. When a house down the street doesn’t sell, we set out to find out why – whether it is due to bad presentation, lackluster marketing or the wrong negotiation techniques. We put an emphasis on making sure the home we have listed on that same street doesn’t exhibit the same gaps as the unsuccessful homes in the neighborhood.
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Our team has grown sizably over the recent past and this year we are forecasting double the number of buyers and sellers serviced by our company. The video New Masters of Real Estate as seen on CBS, NBC, FOX and ABC is just another example of how dedicated we are as a team and how we are regarded as experts in our field. I invite you to visit us and give us the opportunity to serve you! Call us today at 410.638.9555 or 410.803.0900 or email lee@leetessier.com.

8 Secrets to Getting Your Offer Accepted by Sellers in a Multiple Offer Situation

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With our shifting real estate market comes new (and in many cases) welcome problems to have to deal with. Take the relatively new occurrence of multiple offer situations in our area lately. After months (and years) of a buyer-controlled market, we are finally seeing fewer homes available and more buyers interested in the choice properties that are out there.

So what do you do if you are a buyer faced with multiple offer competition?  You BEAT that competition!  Here are eight ways to get around those other offers, make yours stand out and GET the home of your dreams!

Avoid a Bidding War in the First Place

One of the easiest ways to avoid a bidding war is to act fast on your interest in a home. If you see it, like it and want it – make an offer on it!  There is no reason to delay things because eventually you will have a chance to look back on the purchase while it is under contract and iron out any details. But if you don’t want other buyers fighting for the same house, beat them to it.

Keep The Emotions Out of It

Some overzealous buyers that don’t have their offers accepted lash out and retaliate against the sellers. Expressing anger and disappointment through a letter or via their agent is not a smart way to handle the situation. Often the first offer on a home is not even realized, where the seller revisits other bids received, going to their next choice. If you handle rejection gracefully, maybe with a thank you letter expressing regret but that you’re interested in the home should they change their mind, you may walk away with your dream home after all.

Bring Some Personality to Your Offer

While some agents prefer to make offers on behalf of their clients in writing and other impersonal ways, the best way to do it is by bringing an element of personality into your offer. Write a handwritten letter expressing what you love about the house and that you’ll take care of it just like they have for so many years (if applicable). This will show your sincerity in wanting the house and it will also stick in their minds when they go back to review all offers received on the property.

Choose a Communicative Agent

As mentioned in the previous point, some agents choose lackluster means of communication. When hiring your agent, be sure to select someone that is warm but also on the ball and quick.
Accessibility is key for the buyers’ agent as much as it is for the sellers’. If the seller is to gauge the level of your enthusiasm then they must be getting those signals from your agent.

Know Your Numbers

Sometimes the final sales price doesn’t matter. There will be an appraisal before the home is financed, which is the value that you will end up paying on the home. Knowing in advance gives you a head start over other buyers since you will be armed with knowledge ahead of time and can anticipate a reasonable offer accordingly. You should be aware of price per square foot as well as other comparable sales in the area. Keep in mind, there may not even be a need for a bidding war because the price might be capped by the appraisal anyway.

Don’t Stray From the Straight and Narrow

Offers that are simple, cleanly written and to the point are the ones sellers respond to the most. Especially in a multi-offer situation, sellers do not want to have to rifle through endless pages of contingencies, conditions, minor detail mongering and other unnecessary things. The easier you make it for the seller, the better your chance to get the home of your dreams. Remember that at the end of the day you can go back and identify any specific wants you may have but just wait until you have an accepted offer.

Choose Your Priorities Carefully

A common request these days is for FHA buyers to request assistance from the seller with closing costs. If you are a buyer that is faced with a multi-offer situation and you have the choice to not ask for closing costs – you may just be able to win your bid after all. Most sellers today are selling their homes after 10, 20 years and they have no idea of the recent trend of closing cost sharing. To avoid this and the potential of losing your bid on the home overall, don’t ask the seller – make alternate arrangements for closing costs. Borrow from someone. Accept a gift from a family member. Tap into your savings.

Do Better Than the Rest

An excellent tool used by buyers in these situations is to offer more than everyone else. Everyone wants more money and in today’s market sellers are already getting less than what they had expected to get. If you have found the home of your dreams pay extra money to make sure your offer is the one that is accepted and it will offset any costs you may have needed to put into a less-than-perfect property otherwise.
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Remember, this is a time when more buyers are vying for fewer available homes. So nothing is foolproof and there is always the potential of not winning your bid. The best defense you can have against that happening is to be prepared in advance. Get ready to be disappointed. If the home you are looking at is perfect, chances are there are others looking at it with the same eyes too. Aside from putting into our secrets into play, the best thing you can do is to stay realistic. When the right house comes along – things will fall into place. Good luck!