Lance Mohr & Team

Tampa2Enjoy.com

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Lance Mohr & Team

Tampa2Enjoy.com

(813) 317-4009

Selling Tips

Listing Agents Should Always Do This

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It is VERY important for the listing agent (Realtor) to call the buyers lender and verify that the buyer is actually qualified for a mortgage. In this video, I go over what can happen if they don’t. This might sound a little odd, but most loan officers like and respect real estate agents that do their due-diligence by picking up the phone. By doing this you’re going to take the sellers home off the market for 30-45 days and possibly miss a qualified buyer because you could not spend 5 minutes doing your due-diligence? This is WHY you, as a home seller, have to interview Realtors. You need to hire someone who is going to look out for your best interest and protect you.

Transcription

Hi everyone. This is your Tampa Bay realtor Lance Mohr and in this videos, I want to go over, should you have your listing agent or realtor talk to the buyer’s lender before you accept a contract and that’s what I’m going to go over in this short video.

So the answer is YES always have your real estate agent, your listing agent call the buyers lender. Now, I know in our market our average sales price is 200,000 is someone’s making an offer on an $800,000 home. I know it’s not their first rodeo but certainly, I would still call. I would do my due diligence. The lower the price the more important it is. I just want to do it because I want to protect the seller but I also want to protect my own assets because if things go sideways, I don’t want to wind up with an in my face. I want to do everything I can to make sure the seller is protected. To make sure they’re not going to have put their home on the market for two weeks or four weeks or six weeks and all of a sudden it blows up and comes back. What I do when I get enough or coming in I’ll go ahead and pick up the phone. I’ll call the lender. I’ll introduce myself. I’ll see what kind of or type of contract it is. Say it’s conventional sit-down. On to say it looks like the buyer is going on a conventional loan.

I’m guessing this is a FannieMae loan they’re putting down 5%. I just want to make sure that they meet Fannie Mae’s debt to income ratios. Their guidelines and they’ll usually say you know yes then I want to make sure they meet their credit score guidelines. Yes, I want to make sure they need their depository car guidelines and what’s in the bank accounts etc. Now I’m not asking personal questions. I’m not asking what their credit score is or what their debt can come in as or how much money they have in the bank every blue moon I’ll get a lender and they’ll say well I can’t, I can’t go over this you and I’ll say well why not buy while you can’t go over personal information that this is just guideline information I just want to make sure that they meet the guidelines most lenders are quite the opposite most lenders will be more than happy to talk to you because they rarely get calls from real estate agents like this.
It rarely happens in good faith estimates or I should say pre-qualification letters rather are good but there’s a lot a genetic will write a pre-qualification for people who have they haven’t even talked to or who haven’t even filled out an application.

When I was in lending years ago. I would actually have three orders call me up that would go out and show buyers properties. They would look at the home they would write a contract then call me up one a pre-qualification letter. A pre-approval letter and they won’t even let me talked to the buyers and it’s ridiculous and when I tell them I’m not going to do that they’ll just say well find someone who will. It’s absurd but it does happen. So always have your real estate agent, your listing agent pick up the phone and just go through is the buyer qualified. I meant I know it sounds odd but I’ve actually had situations where the buyer hasn’t been qualified and I found this out upfront because keep in mind if the buyer has 30 days to get qualified. If they’re not qualified they have 30 days to get qualified and they couldn’t show up that 30 days and you could be missing other potential buyers who would actually buy your home.

Always make sure your listing agent calls the buyers lender and goes over. Are they qualified and confirm this. I hope this helps you remember these videos are for you. So if you have any questions real estate questions or anything like that put them below in the comments below should be an email go to ur Contac Us page and send me an email let me know what your questions are because I’d love the answer them or I’ll probably do a video on it because if you have a question. A lot of other people have questions if I can help you at all if you live in Tampa Bay area or if I could help you don’t hesitate to give me a call, shoot me an email. I hope this helps you. I wish you the best of luck buying or selling a home. Have a great day. For more real estate videos you can visit my YouTube channel Mohr Home Group.

The Oldest “Listing Agent” Trick In The Book

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At the end of the day, you are boss and you are the decision maker on the price of your home. Not the real estate agent, but you. So, do not get fooled like so many homeowners and hire the wrong agent based on what he or she is telling you.

Watch this video so you don't get FOOLED by the oldest real estate trick in the book.

Transcription

Hi everyone. This is your Tampa Bay Realtor Lance Mohr and I’m going to do a little bit of an unusual video today because I really want you as home sellers or future homes sellers to think about this question. Who’s really the boss? The homeowner or the realtor? I’m going to go over that in this short video.

Okay so I know this is a bit of a question you know who’s the boss the Realtor or the homeowner? I mean look right off the bat of course it’s the homeowner. It’s their home but the reason why I asked this question is because as real estate agents when we go into people’s homes to list. We all know the questions that are coming at us. And the number one question in every single solitary seller will ask is, what do you think my homes worth? What do you think it will sell for and a lot agents will go out there and they know they stopped in this answer that the homeowner may hire them based off of this? So what they’ll do is they’ll just over inflate the price because the homeowners a lot of them I should say and I know this is tough to hear.

I’ve just been in the business for so long and I talked to homeowners. I’ve talked to real estate agents and they’ll say I picked the agent because they thought it was worth this and I talked to realtors sand they say he if I basically just over inflate it or give them a little higher price they’ll pick me as a real estate agent and I’ll get the listing. So you know that does go on. So I say who’s really the boss and who’s out there making the decision certainly it’s the homeowner. You’re the owner, you’re the boss, and you’re the decision maker. At the end of the day, you’re the one determining the price of the home. Not the real estate agent. So don’t pay attention to what the real agents say at the price. Take it with a grain of salt. You want an agent that’s going to help educate you. To show you how the process works. Show you the comparable. To explain things to you then at the end of the day you’re going to put the price on the home.

There’s a video I did a while back and I’ll put it up above. It’s why do realtors take over price listings. Anyhow, you could check that out but you need to hire the agent and you need to look for an agent-based off their marketing and their negotiation skills not what they will tell your homes worth because anybody could go out there and say oh yeah it’s $350,000 home and then say oh yeah it’s worth about $400,000. I would list it for $400,000 we’ll keep it on the market a little bit then we’ll drop it. Look I don’t agree with this tactic at all. When someone asked e what their home’s going to sell for. I’ll tell them, I’m going, to be honest with them I know I may not get the listing. I don’t know they may not like it but at least you’re going to hear what you need to hear not what you want to hear but not everybody’s like that out there and I understand. I’m not knocking the real estate agents they do what they do. Sellers do what they do etc. but I wanted to give it to you straight in sort of an unusual video.

If you have any questions at all don’t hesitate to reach out. If you’re in the Tampa area looking for a good aggressive agent to sell your home? I’d love to interview for the job and if you know anybody looking at buying a home or selling a home share my videos with them. They may get some use out of them as well. I hope this helps you. Thank yours for watching my videos. Have a wonderful day.

My YouTube channel https://youtube.com/tampa2enjoy has hundreds of educational real estate videos. From buying, selling a house to tips for first time home buyers. Don't forget to share these videos with your friends. Thank you.

Sales Price vs DOM – Does It Really Matter?

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The answer to this questions is, YES! I say this for 3 reasons:

1. The National Association of Realtors (NAR) statistics show that the number of days a home is on the market (DOM) effects the sales price. The longer a home is on the market for sale the less money the owner will get.

2. After being a Realtor for 20 years in can tell you for a FACT that this is true. I always tell sellers that they should not rush into a sell, but they need to sell with a sense of urgency.

3. It's just common sense. Would you want to pay full market value for a home that’s shopworn? You have to wonder what’s wrong with if it’s not selling. Right?

Transcription

Hi everyone. This is your Tampa Bay Realtor Lance Mohr and in this video, I want to talk about sales price versus days in the market. In other words, how long is your home been on the market?

All right, I remember over 20 years ago when I first got in this business. I’ve always heard the longer a home sits on the market the less money the seller will get. So that truth or is it the myth? I’ll just get straight to the point. It’s the truth and there are three reasons why.

I say that the reason number one. Every single year since before I got into real estate the National Association of Realtors has been taking surveys in every single year. They state this so statistically, it’s just true. The longer a home stays on the market the less money a seller will actually get from the fair market value not from what they listed it for but for fair market value.

The second reason. I say this is just from being in the business so long, from working with so many buyers, so many sellers. This is absolutely true. I see it over and over again that’s why I tell every seller. You don’t want to rush into a sale but you have to sell with a sense of urgency. A lot of people say well I’m not really in a hurry to get my home sold but you don’t want it sitting on the market because when buyers come to your home and they see a home’s that’s normally selling in your neighborhood. From maybe one week to four weeks and all the sudden yours has been on for three months or four months. You’re not going to get as much money and this leads me to the third reason.

It’s just common sense. If you got out there and you look at homes and you’re a buyer, you like a home and it’s been on the market like two or three days there is probably isn’t much-negotiating room in it. I’m not saying there won’t be but chances are sellers tend to think and you probably know this if you’re the seller. Well I just got an offer in three days I’m going to continue to get offers and it’s the same thing if it’s been on the market a week or two weeks it really depends what the markets like in your area and how fast homes are selling in that area. Sometimes I’ll go out and I’ll look at a $150,000 home in the area and they are selling within one or two or three weeks but then here’s a home that’s been on the market for 50 days and the buyers just say what’s wrong whit it? Why doesn’t anybody want it? They don’t understand the seller started off at $180,000 lowered it to 170 then 160 now it’s at the fair market value at 150 and this goes for any price range.

Now obviously the higher the price of the home the longer it’s generally going to take. You can’t say a home that you know it’s been on the market for at least in our market In Tampa if a $500,000 home has been on the market 30 days that isn’t a super long time for a $500,000 home even though the market is extremely tight and that higher price bracket but if I get a home in it’s a hundred and twenty thousand and it’s not under contract within a week in this market there’s something seriously wrong with it. So again at the end of the day and I tell all my sellers you’re the owner you’re the decision maker, it’s your home, it’s your price. You need to figure out what you need to do for you and your family but you have to sell with this sense of urgency because you have to understand the longer home sits on the market the less negotiating power you’re going to have and eventually it’s just going to get chopped born and you’re going to lower and lower and the lower the price.

So hopefully as I always say in my videos to sellers interview smart. Get an agent that knows what the heck they’re doing someone who’s going to tell you the truth, not just someone who tells you what you want to hear and someone who really understands the market. Who understands negotiation and has a phenomenally written marketing package. I hope this helps. If you know anybody looking at selling a home show this with them. I do these videos for you. I hope this helps. Have a wonderful day. Visit my YouTube channel for more educational real estate videos.

Why Zillow Zestimate Is Inaccurate

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This is what I think about Zillow Zestimate. You know Zillow Zestimate is inaccurate and not a good place to go for your property value when the CEO's home was off by 40%. Plus Zillow's CEO has publically stated that they are works on getting Zestimate more accurate.

In my opinion, Zillow is nothing more than an advertising company that is also a data mining company. They're in business to sell space to advertisers and get data from consumers.

Zillow has a great user interface, but when it comes to accuracy, they are one of the most (if not the most) inaccurate real estate websites in the world. This goes for both Zillow home search and Zestimate.

Transcription

Hi everyone. Your Tampa Bay expert Lance Mohr and in this video, I want to talk about Zestimate. Why Zillow's Zestimate is so inaccurate in many cases they’re off 20 to 40% on home values. Then I'm going to go over what you could do to get a more accurate assessment of what your home is worth in the value of your home.

I understand a lot of people that are looking for the value they go on Zillow’s Zestimate and I understand when they’re looking they go on Zillow to look for homes and I understand why Zillow’s gorgeous. It’s a great website, it’s very user-friendly to consumers, has a lot of great features, mapping, a whole bunch of stuff that is really attractive. The thing with Zillow it's highly inaccurate now I said that there are often a lot of times that home values 20 to 40%. Their own CEO and you can look this up at their own CEOs home value was off 40% and he is gone on record to say they know their Zestimate is very inaccurate and they're working it correcting that down the line because if you’re looking to get the value of your home you can't just get it from an estimator or any estimator that just pull data because there are too many variables.

What's the condition of the home? What's the lot orientation? Was the home been updated? Has it not been updated? Is it built by high end builders? Is it built by a low-end builder? There’s a lot of different variables it goes in there. So as far as Zillow they're not accurate on this estimate and they're not very accurate even when you work at home 20 to 30% of all the homes in Zillow aren’t even actively for sale Zillow actively for sale, once they sit Zillow is a mammoth advertising company and a data collection company. They’re a non-profit organization.

What can you do about that? Now there are a couple reasons why people want the estimate in the home. Sometimes you’re just curious, just say I’m just curious to see what my house was or maybe you’re looking at selling your home right now or in the next several months so if you just want a ballpark estimate it's probably a better idea just got hold of a real estate agent. Give in your address, just say “hey, just send me the comps from my area and everything that's going on in the last 6 months and the agent can go ahead and pull up your area. They could send it directly from the MLS. All the souls in the past six months, the active attendees, etc.

Now that is very basic because you're going to have to do your own analysis of it and see if you're on a conservation line and home across the street with backing up to a strip center well there’s going to be a big price difference. The other things to do if you’re looking at selling your home either now or in the future, you could go to a real estate agent and actually have come out and take a look at the home they could pull all the comparable. Analyze and take a look at your home, it will give you a really good idea what the value of your homes worth and what you might need to do to get it to sell for more money. Some really cheap and inexpensive things to do that just tweaks it a little bit so you're able to get the high-end in a market.

I’m going to go head put a video up above on how to sell your home. It's a video series I did. It’s going to walk you through everything you need know. If you are going to sell your home and that's the reason why you ’re getting a home value. For Pete’s sake, interview agents. Take a few agents in interview them. I have done several videos on this, not all agents are the same. So interview the agents make sure you get a really good agent. I'm going to put a couple of things. Up above I’ll put a link to my website if you want the value of your home and you’re in the Tampa area or Tampa Bay area just go ahead and fill that out and I could do it. If you’re out of the area or out of state I really don't have the access to do that. So just reach out to an agent in your area. I hope this helps you and again I’m not here to bash that Zillow it is what it is and you could even go online and just type in Zestimate and Zillow’s Zestimate and there's a lot of articles on this. So I hope this helps. Have a wonderful day. Leave a comment below. Let me know what you think. If you've used Zestimate before let me know your experience. Alright, have a great day. Don't forget to subscribe to my channel. Goodbye!

I have uploaded tons of educational real estate videos on my YouTube channel https://youtube.com/tampa2enjoy. Please subscribe and share our videos. Thank you.

Staging Your Home To Sell

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Have you ever wondered how Important staging your home to sell is? In this video, I go over a Shocking TRUE Story of staging a home to sell. Look at it like a 3 legged stool. You have Price, Marketing, and Conditioning (staging your home). If you take away one of the legs the stool falls over or in other words, you will NOT get close to top dollar.

Staging your home to sell it is one of the most important and the MOST overlooked things a homeowner can do to make more money. You only have one chance to make a first impression on a home buyer.

I always stress the importance of staging a home to sell because I spend a lot of time and money on marketing my listings. The LAST thing I want to do is bring my professional real estate photographer in to take amazing pictures just to see a home not conditioned/staged.

Transcription

Hi everyone. This is your Tampa Realtor Lance Mohr and in this video I'm going to go over staging your home to sell. I want to talk about it true story that actually happen to my sister to illustrate the importance of staging a home before you get it on the market and try to sell it.

Okay, I’m going to go pretty quick in this video because I have a lot of things to go over but this is actually a true story. Back in 2000 I had a condo in California I sold to my sister. The tenant trashed it. I actually had to go replace all the floorings and I had to replace closet doors, I repainted the whole place, I put screens on all the windows so it looked really good when I give it to my sister.

She lived in it, in about a year and a half and then they were moving so they were trying to sell it. She called me up and she said “Lance here's the situation. I have my home on the market for a couple months and I’m just not getting any bites on it. So what I'm thinking of doing is taking it off of the market, relisting it in about 2 weeks with another agent but I might go with the same agent but they told me to lower the price. And I said well what’s the price at now and she said 170,990. At the time that was very fair price and I told her that I say won't do anything to the price. I said don't lower it. I said how long is it been in the market how many days and she said write about 60 days. I said ok to approximately how many showings if you've got into the home? About 40 to 42 and I said wow, that’s really good.

I said look Gina at the end of the day there’s only three things that sell any home.

  1. Number one is the price.
  2. Number two the marketing.
  3. The number three is the conditioning or the presentation of how the home looks.

I said, so you can't argue with the marketing I said he's gotten 40 to42 buyers in the home in 60 day time period that's really really good. I said I know because I found a place 170 99 is right on the mark right now. I said so that's really good. So what I’m going to do if I’m going to send you my free eBook. The eBook I give to the clients and stuff before they get the home on the market. I'm going to send you that. Its 12 pages. I want you to do every single thing in that eBook but I said now it will give you some tips and advice it will go over 90 things that you need to do.

Most people need to do probably 5 or 8 of them. You might need to do a little bit more. So do every single thing in the eBook and when you do give me a call. Don’t change agent. Don’t lower the price and she said ok. Let me just tell you something before we get off the phone. I'll let you know how this is going to play out if you don't do anything. If you keep your home work out right now in the condition it is whatever it looks like you’re probably have to lower your price to 169,990. I said did then people are going to see it’s been on the market for 60 days then probably offer you 165 you'll get it sold. You don't want to do that. So do everything in this eBook. She agreed to do it. She called me up 2 weeks later said she is she's going to relist it tomorrow with the same agent it went 179 990 they did every single thing in the eBook to get conditioned. I said fantastic. She called me 2 days later and she said you're not going to believe it the first two people that walked in the home, they both wrote above a full price offer and I ended up getting under contract for 182. I said see there? That's the importance of conditioning your home. You probably would have got about 165 if you did nothing but you're getting 182 so in other words she got 10%. The 10% allowed her to take all of her real estate fees. All the closing costs. And for her and her husband to go on a short vacation.
That's how important conditioning is to the home. Let me say another thing when it comes to conditioning the good thing very few people condition their home now in the higher price ranges you’re going to get more people to condition their home but when you start getting into and price ranges or even lower price ranges most people just don't do it so it's a huge advantage for you.

So to let me know your thoughts. Do you think on a scale of 1 to 10 what would you say how important is condition in a home to sell? Leave it in the comments below because I'm curious to hear what you have to say. If you're selling a home get it in condition. If you have any questions let me know. I love to talk to you. If you’re in the Tampa Bay area looking for a good real estate agent let me know but let me know what you think about condition on a scale of 1 to 10 how important is it? Leave it in the comments below. Thank you.

Feel free to visit my YouTube channel https://youtube.com/tampa2enjoy for more educational real estate videos. I have uploaded tons of videos that will help you whether you arre buying a new home, a pre owned home or you are selling your home for the first time and don't know what you are going to do. Please subscribe and share my videos. Thanks.

Why Do Real Estate Agents Take Overpriced Listings?

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You may be wondering why Real Estate Agents take overpriced listings? Why would they do that when they get paid to SELL the home? Here are a few reasons. Over the years I've asked why real estate agents take an overpriced listing. I see this go on in my own neighborhood and it is very frustrating to see. Especially when you know the home will not sell and the seller will end up having to take less money than “fair market value”. This video will explain why.

If a home is overpriced it's NOT going to sell and it will become SHOP-WORN. This is not a good thing to happen to a home seller. The best thing you, as a seller can do, is choosing a Realtor that knows what they are doing and will give you the HONEST answer to the common question: “What do you think my home is worth”.

Choosing the right agent can either make you money or lose you money – it's your decision!

Transcription

Hi everyone. This is your Tampa Bay realtor, Lance Mohr and in this video, I want to talk about a question for years. Since I've been in the business over 20 years ago and that is why do realtors take overpriced listings? That’s what I’m going to talk about in this the short video.

I’m a little surprised I haven't done a video on this because I just had so many people ask me, neighbors asked me, I mean friends, acquaintances, everybody. Why do realtors take over price listings and a lot of people really don’t understand and know why? So plenty just give you a few reasons why realtors need to take over price listings. The first one is they just think of the seller has to get the home sold. They might as well be the person that list it. I had an agent tell me one time, he said “Lance what was I supposed to do if the seller is going to list the home at least it's me at the end of the day have eventually sell it and I'll get paid money. So I don't necessarily agree with that right there. I think you should be upfront and honest with someone but as long as they are then you know you’re going to have to make the decision as a seller.

Another one is just a pressure on the office. In real estate, they always say listings listings listings. The office is pretty much everywhere. Any books to read, you know any type of training we go to everything just about listings listings listings. Of course the office once the yard sign in the front yard. They want that the recognition. They want to be seen and a lot of times the agent does too. They want to sign in the yard. Maybe they want it in the yard so they can knock on doors and see if anybody else wants to sell. Where they can call on the telephone to the neighborhood “hey, I have a listing or you thinking of listing your home”.

I know the reason they may want to do it is maybe they want to sit open houses. It's a very passive way to sell a home but open houses whenever it was never really meant to sell homes from the real estate community. Most agents do it in virtually all agents do open houses because you're trying to procure a buyer. They are trying to get a buyer that they could work with. They're basically using the property as a marketing tool, have buyers come in and they need buyers. So that that so that's a way as well there's a lot of different reasons why agents may take over price listings. Those are the some of the most common reasons now I said this a lot over the years if you get higher a real estate agent hire based off of their marketing and hire them base of their negotiating skills.

If you have any questions what so ever don’t hesitate to contact me. If you know anybody looking at buying a home or selling a home share my videos with them. Hopefully, the videos will help them out. I appreciate you watching y videos. If you have any questions or concerns don’t hesitate to give me a call I’d love to answer your questions or if you’re in the Tampa Bay Area or you’re looking for a good aggressive agent to list your home and sell it let me know as well. Take care and thank you. Visit my YouTube channel https://youtube.com/tampa2enjoy for more videos from buying tips, selling tips, mortgages, builder reviews and may more.

The Best Way To Get A Home To Appraise

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I want to go over the best way to get your home to appraise. At least the best possible way to get your home to appraise.

We've been running in low appraisals for a number of years and homes not appraising. The best thing that you can do to get your home to appraise is to make sure your real estate agent meets the appraiser at the property and have them pull up detailed information justifying the value. What tends to happen is a lot of these appraisers are coming from all over the area.

For example, I live in Tampa. I might have a home that I listed and sold in New Tampa. Maybe the appraiser's coming from 45 minutes away. They don't understand the market. They don't understand which builders built the homes. They don't understand or never even been in the subdivision before. Make sure your real estate agent goes out there and meets them.

I just had an agent a couple of weeks ago and what happened is she had some documentation that showed the home was larger than it was but it didn't show up that large in the tax roll. The tax roll showed 2,500 and something square feet. Her documentation had over 2,700 square feet. She didn't meet the appraiser, she didn't give him this, and it came in substantially lower because the appraiser was using different comparables. So just make sure that your real estate agent meets the appraiser out there.

Some appraisers won't even really talk to realtors. They won't even take the information or the documentation. But make sure your real estate agent meets them and tries to give them the information. At least, hopefully, they'll have the realtor's card. And if they can't find comparables, maybe they'll give the real estate agent a call. They're really supposed to do this, they should do this, but a lot of appraisers don't.

It comes down to getting an agent that really understands what they're doing and understands the market, understands your subdivision, et cetera. This is the best thing you can do. There are no guarantees. If the lender ordered the appraisal through a management company, you're almost pretty much dead in the water.

If they've ordered it through VA, if the buyer was a veteran and they're going through the veterans administration, that's good news and it's one of the reasons why I love VA loans – it's because you can appeal the appraisal two times. Keep that in mind and make sure your agent keeps that in mind when you're getting offers. I have purposely accepted offers from veterans and suggested the seller do this just for this reason and it's come back to reward us.

Anyhow, I hope this helps you. If you have any questions on real estate in the Tampa market, please don't hesitate to give me a call. Have a wonderful day and best of luck with your home appraisal.

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Mohr Home Group
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