Nashville TN Real Estate & Homes for Sale in Nashville Tennessee - Podcasts powered by Odiogo
Monte Mohr
Recent Episodes
Once you’ve decided to put your home on the market, of course you want to get the best deal but if you ask for too much people won’t even come and look at your house. How should you handle it? Brentwood Realtor Monte Mohr has valuable insight and answers to some pertinent questions in today’s market.
Bonnie from Nashville wrote in and asked…
“I am putting my home on the market soon but am trying to decide on an asking price. My father says I need to ask at least $10,000 to $20,000 more that I expect to get because the buyer will want to negotiate that much. Is that true?”
With all due respect to Bonnie’s father, things used to be done that way. We used to build in big allowances for negotiations. But many times in today’s world the consumer knows everything about the property before they ever go and look at it; they know what you paid for it, they know what the market analysis looks like and so forth.
It is far better to price your home where you’re willing to sell it because it’s all about getting traffic in the front door. If you can’t get people into your house, you can’t them emotionally attached to the house, and buying a home is an emotional decision. So I will tell anybody to price their home as low as possible because it will be better in the long run.
Skip and Cindy are selling their real estate in Goodlettsville and they had the following question…
“Our home is currently on the market and our agent has suggested that we offer through MLS to all potential buyers our refrigerator, washer and dryer to help it sell. We see you on Channel 4 and want to get your thoughts on the subject before doing so. Will including these items help our home to sell?”
I see this practice a lot; it’s not uncommon for agents to encourage people to do that. But when you include things like closing costs, a refrigerator, or a hot tub, etc. is they become gifts, and people forget about gifts; there is no value extended. Here’s an example of what you could do instead. If you have a $200,000 home and someone offers you $180,000 you can counter back at $195,000 but you include the refrigerator, the washer and dryer, and the lawnmower; things like that where there is an added value extended. It’s the only way to get the value out of the items. If you include them up front, people will forget about them.
Carrie from Franklin submitted this question…
“My agent suggested that I pay a $1,000 bonus to the selling agent and that would help my home sell. Do you believe this is a good idea?”
I see this strategy quite often and I honestly think it becomes a negative strategy because here is what happens…
I’m sitting in my car heading to the next showing and the buyer asks me to look at the listing information on the property. I hand it to them and along the bottom line where the realtor comments appear, it says, “$1,000 bonus for selling agent.” Right away the buyer is thinking, “Whoa! Wait a minute! You’re not going to be objective Monte, because you’ll make a bonus if you sell me this house.”
I think a buyer’s comfort level with the agent’s objectivity and guidance may be compromised in that situation. I feel that $1,000 bonus ends up undermining the potential sale of that property. To be honest, it’s far better to use that $1,000 to lower the asking price, or something else that isn’t going to potentially influence the agent’s opinion of that property. When an agent gets excited about a property just because they’re going to get a bonus, it all seems a little too superficial.
Today’s final question comes from Jim who has a house for sale in Mt. Juliet…
“I have heard you say that in this market you must price your home right or it will not sell. I am concerned that if I price it as low as I probably should that people will make offers even lower than my asking price. What can I do to keep that from happening?”
A lot of people have this concern and I hear it all of the time. Here’s what I have to say about this very common concern…
We CAN’T control what somebody is going to offer for your home, but we CAN control what you will ultimately take for the property.
A few weeks ago I had this same conversation with some other people in Mt. Juliet who wanted to price their home at $209,000 because that’s what they thought they could get for their property. Based on the comps, I didn’t think they would get that much. So they used my “We Sell Homes 4 Free” program where I work for free and they saved 3% on the commission costs. With that savings, they were able to price the home at $199,900 instead of $209,000.
Within 24 hours we had 3 offers and they ended up getting more than asking price. In this case, the fear of loss kicked in and we ended up with people bidding against each other. Fear of loss is much more effective than building in a price for hopeful negotiation. I tell my clients that I’d rather you have 6 offers to say “no” to, than 6 months, or 1-2 years from now, we’re sitting her twiddling our thumbs with nothing to talk about. Get people in the door and create a fear of loss.
We have some great examples of Happy Customers to share…
Carl and Rosanne are like so many of us Baby Boomers who don’t want to do stairs anymore. They wanted to get a one level home. In a short time they were able to sell their home in Franklin and move to Thompson’s Station. They said, “We saved over $6,800 with Monte’s ‘We Sell Homes 4 Free’ program and were able to size down.”
Charles and Maria were in a similar situation in Smyrna, but they had only owned their home for a short time so they didn’t have any equity. Here’s what they have to say about their experience, “By using Monte to purchase our next home, he sold our current home for FREE and saved us almost $9,000!”
How does the “We Sell Homes 4 Free” program work?
I am committed to helping people lower their asking prices in order to sell their homes in today’s market. In order to do that, I’ve lowered the costs associated with selling a home. I waive the entire listing portion of my commission if someone simply promises to buy their next home through me within a reasonable amount of time.
This program is really working. I closed on 18 properties last month and 15-16 this month. I’ve helped a lot of people sell in a tough market because: 1) they’ve been able to lower their costs, 2) so they can lower their price, 3) as a result, they increase the volume of people going to see their home.
If you need help buying or selling a Middle TN home, please contact Monte directly at (615) 300-8393.
search Williamson County TN Real Estate
Are you trying to decide if you should sell your home now or wait for the market to turn around? If so, Nashville Real Estate expert Monte Mohr has prepared a list of four things to consider before you make that decision.
Tina from Nashville wrote in and asked a really great question…
“My husband and I have been discussing whether we should put our home on the market this year or wait until the market turns around. I want to sell now and get into a different school district for the kids but he’s concerned about losing money on our home if we sell now and wants to wait. He promised me he would consider what you suggest as we watch you all the time [on Channel 4 News]. Please share your insights.”
I’d like Tina’s husband to know that I get it – none of us want to lose money on our investments – especially our home, and especially us guys, because we want to know that we’ve taken care of our families and made good decisions. But we also need to realize that it’s going to be a good 2-5 years before we see the market as a whole do much changing. Below are important points for your consideration:
Things To Consider When Deciding If You Should Wait to Buy or Sell:
1. Though you may get more money for your home when you sell, you will also pay more to someone else for the home you buy IF you wait.
2. Interest rates will probably not be as low as they are now. Average mortgage rates for the past 20 years have been closer to 10%.
This is a HUGE factor. We’ve gotten complacent over the last few years because the rate has stayed so consistent. But when you consider the value of a 4% interest rate on a $300,000 mortgage over the term of 30 years, the difference is amazing. Just look at the numbers:
$300,000 @ 4% x 30 years = $1,432 monthly payment (principle and interest)
$300,000 @ 10% x 30 years = $2,632 monthly payment (principle and interest)
That means the same mortgage will cost you $1,200 more per month at the higher interest rate!
So it is really important to remember that interest rates have averaged closer to 10% over the last 20 years. As a matter of fact when I started in this business interest rates were at 12% and that makes a HUGE difference. In the example above, you would pay $144,000 more for the same house in a Franklin Tennessee Subdivision over a 10 year period; just think about that – $144,000 in 10 years – that is a HUGE difference!
3. What is the value of being able to accomplish the desired goals sooner versus later?
The value of time; it wasn’t long ago I was 29 years old and now I’m 59 years old. What is the value of “getting on with life”? What is the value of getting your kids into that school district? What’s the value of getting that larger lot, or a 3-car garage, or the bigger kitchen, or getting closer to work or family, or those types of things? What is the value of “getting on with life” and getting those things that drive you in life; have you considered that?
4. Primary reason not to wait – if Mama’s not happy, nobody’s happy!
This is the most important reason, and no offense to Tina’s husband, but I’ve been married more than once and I’ve learned that if Mama’s not happy, nobody’s happy.
I decided a few years ago to try and help people save money so they could stay competitive in our current market. So if you want to buy a home and you have one to sell first, I will waive the entire listing portion of the commission to reduce your costs. This will allow you to compete with the prices of distressed properties; and there are still distressed properties out there in the marketplace.
What’s the catch? The only catch is that you promise to let me help you buy your next home. You don’t pay anything for the whole process because I work for free on the “selling side” and when you buy another home, that seller will pay my fee. So as far as you’re concerned, it’s all for free and it’s a full service effort – 110%!
This program is really working for a lot of folks. Last month we closed on 18 properties and this month we’re around 16 closings but I promise I am not too busy to give personal service.
Let’s look at a Happy Customer…
Thomas and Kristi had a Home For Sale in Hendersonville and were Channel 4 viewers who saw my offer on the news. They knew they were going to take a hit on their home when selling, but we were able to sell their home in just a couple of weeks and they saved over $9,000 by utilizing my “We Sell Homes For Free” program. They were then able to downsize and get into the home they really wanted.
If you need help buying or selling your home, contact Monte directly at (615) 300-8393.
search Williamson County TN Real Estate
If you want to buy a home but you have to sell your own house first, you should consider having a professional get your home off of the market for FREE. Monte Mohr, creator of a very popular home selling program called “We Sell Homes 4 Free,” is here to answer a consumer’s question and explain the details.
Sarah of Middle TN wrote in and asked…
“We really like the idea of saving the 3% when selling our home with your ‘We Sell Homes 4 Free’ program. We don’t understand though how you get paid if you don’t charge for your services. My husband says nothing is free. Where’s the catch? Please explain.”
This is a question that I hear many times because it’s true; there are no things for free. In this case, the “catch” is that you will let me help you buy your next home. About three years ago, I saw the market tanking and I thought to myself, “How can I help people sell their homes at a time when they may not even be worth what they paid for them?” That is when I came up with the idea of “We Sell Homes 4 Free.”
A complete explanation to the program can be found on my Nashville Real Estate Website, but the short explanation is this: If you’ve got a home to sell, I’ll do everything in my power to help you sell it without charging you a single fee, as long as you promise to buy your next home from me in a reasonable amount of time.
This is working for a lot of people; last month I closed 18 properties and I’ve had over 40 sales since the beginning of the year. This really works because it gives people a price advantage since they don’t have to pay a customary 6% commission rate. I waive my 3% listing fee, and when you buy your next home, the 3% commission I’ll earn as your buyer’s agent is paid by the seller of that property. So I don’t get paid by anyone except the people who own the home that they’re purchasing.
This is a win-win situation when you have a home to sell and you’re going to buy another one anyway. From a seller’s standpoint, all the effort on my part is free; they won’t pay me anything.
There are some real Success Stories as a result of this program; let’s hear some testimonies…
Rosanne and Carl of Thompson’s Station said, “Monte helped us sell our home in a tough market and we saved over $6,000!” They wanted to down-size to a one level home and stop climbing those steps to go to bed at night. We were able to sell their home in just a few months, they saved over $6,000, and then I helped them buy their next home. They are a really happy couple now.
Opelia is a second-time customer of mine and I was able to see her home in the tough market of Hendersonville. Opelia said, “We sold our home in less than 60 days and saved over $7,500 with Monte’s program!”
Kim had her home for sale for over 3 years in the high-end subdivision of Liepers Fork in Franklin, TN and she had this to say, “Monte’s program saved me over $20,000 and he helped me find my dream home!” Now the really exciting part about this story is that we were able to save her over $100,000 on the home she purchased.
Thomas and Kristi are Channel 4 viewers from Hendersonville who knew it was going to be tough to seel their home so they called me to help them with my “We Sell Homes 4 Free” program. This happy couple says, “We saved over $9,000 and Monte sold our home in less than 30 days and helped us size down!”
One thing worth mentioning is the speed at which these homes have sold. What many people don’t realize is that homes ARE selling out there right now IF they are priced correctly. So it really helps to get a price advantage, which was my premise when I decided to lower the cost to sell. By removing my listing commission, you can lower your price and compete with the prices of the distressed properties on the market. That’s why these properties are selling – because they are priced correctly.
The final testimony for today comes from Karleen who was selling a home in a Franklin TN Subdivision. “Monte sold my home for full price in less than one week and saved me over $7,000!” Karleen thought she was going to pay me on the “buying end” of the deal, so she was very excited to realize that the builder of the new home she is purchasing is responsible for paying my fee; she got all of my services for free!
If you need help buying or selling a home in Middle Tennessee please contact Monte directly at (615) 300-8393.
search Williamson County TN Real Estate
Do you currently have your home on the market? Has it been a long process for you so far? It can definitely be a long process. There are things that can keep your home from selling and things that can help your home sell. Taking these things into consideration can help make the process go a little more quickly. Check out this video to learn more.
So many people believe that a house for sale Nolensville Tennessee should be taken off the market during the holidays. However, the holidays can actually help your home sell more quickly. There are many reasons for this. First, people do take their homes off the market. This means there is less competition. Secondly, the people that are looking for homes during the holidays are serious about buying a house. They want a home and are willing to give up some festivities to get into their dream home. So I say, keep your home on the market during the holidays. Know that you must be flexible during these times. However, in the end it will be worth it to have a sold home.
The next thing that could affect the sale of your home is improvements that you have made. Some upgrades to the home are a personal preference, such as a pool, closet shelving unit and the like. These things do not add any value to the home. However, if it comes down to a buyer choosing between your home and another equal home they may choose yours due to these factors. So it does not add value but it may add the final decision maker for some people. It could also be the thing that drives someone to another home. Maybe, they do not want a pool. It is best not to spend too much on home improvements when selling a home.
So now we have talked about things that will help home sales and things that may be helpful in selling your home. Now let’s talk about something that will probably not really affect the sale of your home. That is open houses. Many realtor in downtown Nashville Tennessee hold open houses to show that they are making an effort to get your home sold. However, most homes are not sold through open houses. Ensure that your realtor is on your side and doing other proactive steps to get your home sold.
When selling your home, take everything into consideration. Look at the sale from a buyer’s eye. This will help you to determine changes that you may need to make along the way.
search Williamson County TN Real Estate
The big question you may be asking yourself is whether or not you should sell your home or wait for the market to get better. The main reason people want to wait is to get more money out of the sale of their home. On the flip die there are many reasons why people are selling their home despite the state the housing market is currently in. When to sell your home is a very individualized choice. This video will let you know a few pros and cons of selling your home in this kind of market to help you make an informed decision.
One reason many people do not want to sell their home now is because the overall selling price will most likely be less than they hoped to make on the home. If you sell your home, where are you going to live? The thing with selling your house is that you will most likely want to buy a new home. Even if you lose money on your house for sale, you will make up that money on the buying end. Sit down and talk about the type of house you want and the location of where you ultimately want to be. Check out the prices of those homes and the deals you may be able to get on the buying side. Also, think about it. If you wait to sell your home, you will end up paying a lot more for the next home you purchase.
When you place your house for sale and look into buying a new one, a thing to consider is the interest rate. Currently the interest rate for many is as low as 4%. Remember, if you wait to sell / buy a home for a couple years the interest rate may be back up to 10%. When you crunch the numbers, you end up paying $600 dollars or more per month in interest. You always have to think about the future and the buying position you will be in whether you make the decision to sell now or wait.
Now you must take a look at the personal reasons to sell your home now rather than later. What is driving you to think about selling your home now? Is it that the kids are starting school and would like to be in a better school district? Have you outgrown your current home? Many people sell their home to move onto a next chapter in their lives. Why put this off? Go where your family needs to be to thrive. Think about the reasons for selling and allow that to guide you into the right decision as well.
search Williamson County TN Real Estate