Advertising in the Newspaper; It works for me…sort of.

Many Sellers demand that their homes are in the dominant area newspaper. At the same time, many don’t care. The latter group trusts their REALTOR to know what’s best regarding the sale of their home. Neither group is wrong.

After spending thousands of dollars in the newspaper, I can’t remember the last home I’ve sold from an ad, if any. I know that there are some exceptions, but for the most part, the bang for the buck is not here.

In my experience, homes in this market are sold by utilizing the internet combined with the local network of REALTORS. These days, most Buyers (local or out of town) look for homes on the internet. Keep in mind that REALTORS usually know about the listings a few days before the public. This is because there is usually a few days of lag time between a listing agreement date and when any particular site picks it up.

Personally, I try to satisfy my Sellers marketing wishes regarding newspaper ads. It will very rarely sell their house.

What does it do? Two things. 1) Markets my business. When eyes across the midlands see Franklin Jones 5 or 15 (or whatever) times a week, 52 weeks a year, it is a good thing for my Team. 2) If an ad does procure a call, it gives me the opportunity to turn that caller into a Buyer for my Team. Of course, I’m never pushy (not my style). I simply offer to share other listings with them. After all, they are looking for real estate…and what sort of REALTOR would I be if I didn’t ask?

Do you look for property on the internet, or the newspaper? I may learn something here…

Hello World…

In my excitement to enter the blogosphere in Realtor style, I forgot to post an “Introduction.” Well, here goes…Blogger style.

Welcome to the Franklin Jones RealTeam real estate blog. This space is available for you to post comments, thoughts, properties for sale and properties that you may be looking for….and/or anything else real estate. As far as I know, its the first all inclusive real estate blog in South Carolina.

I am from the fast growing city of Anderson, SC (T.L. Hanna). After graduating from the University of SC, I decided to reside in Columbia. The friends I’ve made in the Midlands are the greatest a person could ask for. When I decided to become a Realtor, my friends supported me more than I ever could have imagined. With this said, we have created one of the premier real estate networks I have ever heard of. As you read and post, I hope that you will benefit from our network. Perhaps you may learn a few things or even teach us as you post your thoughts. Further, I hope that everyone can profit from what is shared.

My vision is that you will use this as a point of information, to express opinions, and to just plain talk. We can discuss lenders, inspectors, termites, investments, mold, sales prices, whats for sale or what you want to sell. I hope that you will use it as your microphone to talk about real estate with folks from SC and around the world.

As they say in politics, “Vote early and often.” Here I say, “Post early and often,” and we’ll see if we can find some dirt or bricks for you to buy or sell.

Franklin Jones

Price / Sq. Ft. is King!

After choosing an area, “How much is that per square foot,” is by far the single most used phrase regarding the value of a home in this market. It is the first thing anyone looks for when they try to price their home. Its the first thing any Buyer does when they are looking for a house, land or investment property. Many markets are not quite like this. Beds/baths take a much grander role in the valuation of a property. Not here. Price per foot is King.

Shandon in Columbia is a prime example. If its great with granite, $160-$165/ft seems to be the mark. If its “unreal,” Shandon can bring $180+/ft., with some “statement” homes bringing over $200./ft. A nice home in Shandon “not granite,” that needs some updating hovers around $140-$$150/ft. depending on curb appeal and street. It makes it difficult because many times a Seller wants “what their neighbor got” per foot. More often than not, this is why homes stay on the market longer than they should.

Cross one street into Rosewood, and the price goes to $120ish/ft. Cross the street into Heathwood, and the price/ft. remains roughly the same. The difference here? The homes in Heathwood can bring a tinch more than Shandon per/ft…..but the homes are bigger and have more “wow” power.

Do you know the price per foot in your neighborhood? Do you care? You should. Get to know your price/ft. and you will be able to tell what you should do to your house to maximize the value, without “over-cooking” it.

Perfect system? No. Exceptions? Yes. Take a 270 sq. ft. dwelling with 1 bath that is on the market for over $300,000. This is a property that sits on wheels in an industrial section of Columbia, that is asking a handsome $1147./ft. Name of the property………….? Cockaboose.