Blog :: 01-2016

Relocation, Relocation, Relocation!

Atlas Van LinesOne of the most frequent pieces of feedback I get from my clients is that I'm very knowledgeable about and good at explaining the ins and outs of real estate sales. I think that's probably true, largely because I believe the more people know, the better they are at both buying and selling.

So, today, I want to pass on some information about relocating.

If you or your spouse are making a work-related move, the employer may offer a relocation package. They may offer to pay for your closing costs, pay for your move, even buy your house if it sits on the market too long. Most of the big corporations use a relocation company, like Cartus, which provides various services and resources - one of which is to set you up with one of their contracted real estate agents, usually one from a corporate-owned real estate company.

However, you are not obligated to use their recommended agent or agency.

The reason I mention this is because it's often not made clear to sellers that Cartus will work with any agent, usually with no financial ramifications to the seller. Meaning, if you worked with a real estate agent that you really liked when you bought your house, you can use that same agent to sell your house - even if a corporate relocation package is part of the picture.

This comes as great news to many sellers who have already built a trusting relationship with a local agent. Or to those who prefer to use an agent recommended by a friend.

If you're selling your house for a business move and you've been offered a relocation package, let's talk. I can explain to you how the system works so you can make decisions that make you happy. I've been told I'm very good at that kind of thing! 973-809-5277

How Accurate is Your "Zestimate" ?

This LA Times article about Zillow estimates is from a year ago, but it recently resurfaced on my social media pages and seems worth sharing. For homeowners, Zillow seems like the best thing since sliced bread. A do-it-yourself tool to determine home values. Unfortunately, it's not the last word in valuation and is often controversial.

Zillow uses an Automated Valuation Model  (AVM), which is an algorithm that takes into account location, price per sqft, lot size, etc by relying on publicly available data from comparable properties. Sometimes this data is old or just simply wrong.  It's not a bad system for very general ideas about home value, but it doesn't account for anything unusual (good or bad) about your home.  AVMs tend to overstate the value of homes that are in poor condition or in an awkward location (like next to a gas station).  Similarly, they understate the value of homes that have fabulous recent renovations or are walkable to the NYC train.  It's a little like the real estate equivalent of an automated telephone customer service system. It's good for only the most basic information gathering.

And, as this article points out, "Zestimates" aren't even especially accurate - on average they are off by 8%.

Working with an experienced agent (i.e., me!), you'll have access to all the same type of automated information available through Zillow AND the expertise of someone who knows what the inside of the comp homes look like.  So, together, we can make a smart marketing plan if you're a seller, and realistic decisions about bidding if you're a buyer.

I'm happy to come over and tell you what your home is worth. Buying and selling homes is nuanced and subjective. It's not about algorithms. It's about lifestyles and dreams.