Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Realtor is one of my many sources of info but not the only one. I have also looked at some of the websites of the nationwide players such as REMAX and CENTURY 21, for example. It's the same story - no information! All they do is tick the boxes, but don't write any blurb on the property. I just don't have the time to phone up agent after agent to get what I need.
Again, I think that part of this is being overwhelmed by the sheer numbers, but I still think realtors could generate more interest by tacking on some information. It also make the USA look lazy and not prepared to "do the hard yards" as we say in Australia. You guys might accept it as the norm, but it's not perceived that way overseas.
Investors are falling over themselves to buy property in the USA at the moment, so the chances are that much of the current and forthcoming stock is going to end up with Australian, New Zealand, British owners etc. It is the job of Realtors to excite the buyers by giving more info, generating leads and getting properties off the books and into the hands of new owners.
Here in Australia, even the most humble home in the middle of the Outback has SOME information on it (check out realestate.com.au to see the difference). A seller here would NEVER pay an Australian agent a cent if they did not write up their property in terms which enticed buyers.
A sellers realtor has to work for their commission (especially in YOUR current climate) and I'm sorry but I just don't see the US agents as hard working in this regard. Properties should NOT be sitting on the internet for 100+ days without being sold and if they are, you can often look at the listing and lack of detail to see why.
I think there is another thread running on these boards about a guy who couldn't sell his home for ages and discovered it was lack of detail/info/pics that was letting the listing down.
Can I ask - if a tenant does not want the home photographed for privacy reasons or because the home is a pit, what happens when a buyer wants a walkthrough of the home in order to assess its suitability?
You schedule with 24 hour notice as required by law and prep the buyers for a totally messy house. If they are an investor they can easily look past the junk, if not, then it is typically a waste of time for everyone as most buyers can't look past it.
Here in Australia, even the most humble home in the middle of the Outback has SOME information on it (check out realestate.com.au to see the difference). A seller here would NEVER pay an Australian agent a cent if they did not write up their property in terms which enticed buyers.
Okay...I checked it out. I don't know what you are talking about.
I just pulled a quick search of 3 bedroom homes between $100-$150k. I saw some excellent photos and descriptions and craptastic photos and descriptions just like we have here. I saw one person mention a potential rental income and that was it. Most agents don't seem to use virtual or video tours which is the same as over here. The longest description I saw was about 5 sentences. This was in my sample size of about 10 that I looked at.
Oh and that whole "recommended for" section off to the side that says that the area is great for families, retirees...that would violate our federal fair housing laws. Can't do that here. It's a pretty cool idea though.
I thought the Au site was really stripped down and very basic. At least R.com has square footage, lot size, schools, room dimensions, the size of the garage, the year built, property tax information, etc.
You do realize that REO's won't have any descriptions and nothing other than basic information, right? Many of them only have an exterior photo as well.
Help me. What is so spectacular about that site that we are looking lazy in comparison?
Thanks Silverfall. You're right - an investor would look past all the junk and aim for the structure and soundness of the property.
It sounds crazy that a tenant does not have to co-operate by letting a photographer in to take pictures that will enable a seller to sell their home. I would have thought that in the event of a house going for sale, the tenant would HAVE to co-operate with the seller and that the owner of a property has the right to present his house in the best possible way to entice a buyer. Thanks for explaining the reality of it in the previous response LOL
I have to laugh about it, but here in Australia you would not dare get a tenant who did not clean up before an inspection, or who refused a realtor access in order to photograph the house on behalf of the seller. In fact, it is often written into a lease agreement here. I remember when we were renting years ago that the contract stated something along the lines of "tenant will allow reasonable access to the home in the even of the owner putting the house up for sale", or something along those lines.
Thanks Silverfall. You're right - an investor would look past all the junk and aim for the structure and soundness of the property.
It sounds crazy that a tenant does not have to co-operate by letting a photographer in to take pictures that will enable a seller to sell their home. I would have thought that in the event of a house going for sale, the tenant would HAVE to co-operate with the seller and that the owner of a property has the right to present his house in the best possible way to entice a buyer. Thanks for explaining the reality of it in the previous response LOL
I have to laugh about it, but here in Australia you would not dare get a tenant who did not clean up before an inspection, or who refused a realtor access in order to photograph the house on behalf of the seller. In fact, it is often written into a lease agreement here. I remember when we were renting years ago that the contract stated something along the lines of "tenant will allow reasonable access to the home in the even of the owner putting the house up for sale", or something along those lines.
The experienced landlords put something in their lease agreements. Even then, tenants just aren't motivated like a regular seller is. I can tell the seller that they tenant isn't cooperating, but they are required, in my state, to give 30 days notice to end the lease. Then the landlord is without rental income. Most choose to keep the rental income and just work hard to prep the buyer to look pass any messes.
There is minimally accepted clean for a showing, but that doesn't translate into good online photos. The other issue I have had is that the tenant is clean, but their furniture is so ugly that it detracts from the house. I agree it is always about enticing the buyer and sometimes the way to do that is to minimize the number of interior photos.
Thanks again Silverfall for the insight. I suppose that no interior pictures are better than ugly ones!
I'm glad you jumped onto the website I mentioned. Out of curiosity - where did you set your sample? I have always found the site to be pleasing to look at, with enough detail to make me interested in many of the listings. I found that many of the American MLS listings say that the buyer has to verify all measurements etc, so having the info on lot size, home size etc is not always a benefit when it turns out to be inaccurate. I take that info with a grain of salt.
Floorplans and interactive tours are quite a heavy additional expense for the sellers here, so only some of them do it.
Personally, I don't mind if the description is 2 lines, as long there is SOME kind of description and it tells me the place is tenanted
I suppose that because we have an incredibly strong demand for our housing here that properties just do not sit on the books for long. Dealing with foreclosures is almost an unknown quantity here. It does happen, but it is a very, very small percentage - perhaps 1-2% of all sales.
Sorry manderly6, I don't understand your question.
How would a LL know before renting to someone if they would clean up for an inspection or not?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
