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DOES IT EVEN MATTER WHAT REAL ESTATE AGENT YOU CHOOSE?

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I don’t think I have ever written about this subject before, but we had two fantastic examples in November so the timing this month is perfect.

Does it even matter what real estate agent you choose? This is a question I don’t get asked enough. Many sellers just assume it really doesn’t matter which agent you choose because even the newest agent has access to the Multiple Listing Service. Folks with this “All Agents are the same” mindset logically just shop for the agent with the lowest commission rate. Would they feel like they have done their due diligence if they knew that it could cost them over $50,000? We see so many buyers and sellers needlessly exasperated by events and mistakes that should have been handled up front and/or behind the scenes. In fact, I will tell you about a couple of examples I think you will find interesting in a minute.  But to begin, let’s start by taking a look at whether the agent you choose matters from a simple dollar and cents point of view.

 

BY THE NUMBERS

 

The Scott Gaertner Group sells the most listings in the Scottsdale North area. If all “agents are the same” when you compare the average sales of our listings to the average of all the other listings the results should be pretty similar right? The chart below shows that over the last 5 years our listings have averaged $19 more per square foot more than the 85266 average, and they sold nearly 3 times as fast. That is not very similar, and if you consider that in the last 12  months results we averaged $32 per square foot more the difference is trending to matter more.

85266 Sales From 11/20/13 to 11/20/18

(*All information is provided by the Arizona Regional MLS and is deemed reliable, but not guaranteed. Data for Price Per foot and  Average Days on Market is from 11/20/13-11/20/18. Scott’s sales are removed from the group average.)

The average home in 85266 is just over 3,000 square feet, so doesn’t it make sense that the average homeowner could have made over $50,000 more just by hiring a different agent? ($3,000 X $19 per foot = $57,000 )

 

APPLES TO APPLES

 

Some people don’t like statistics so, let’s try a more “Apples to Apples” comparison to show that the agent you choose really matters.

 

Below is a chart of 9 listings that our group took over after they had been listed with another company for at least 180 days. In each case we relisted the home at exactly the same price – or we raised the price – and the only thing that changed was the way the home was marketed. As you can see from the chart below, in each case the home sold within 30 days.

DOES MARKETING MATTER?

 

To me these are the perfect Apples to Apples comparisons. The same homes, listed at the same price or higher, WAY DIFFERENT RESULTS. (By the way – we do not ever solicit expired listings. These sellers all called us for help)

 

Still not convinced? You are a tough crowd! Ok.  How about these two examples from last month that I promised you earlier:

 

November Marketing Matters Example 1

Last month we sold 6583 E Brilliant Sky in Terravita that had been on the market with another company for 182 days. We relisted at the same list price and sold the home for $5,000 above the list price in just 3 days.

 

  1. STILL NOT CONVINCED!? CHECK THIS ONE OUT.

 

November Marketing Matters Example 2

Also last month, we sold 7787 E Soaring Eagle in Winfield that had been listed 7 times, with 7 different very experienced agents for a total of 1953 days on the market.

 

As you might guess the homeowner was more than a little frustrated. He called us because we had just sold his neighbors home very quickly, and for more than he was asking for his home. After a quick conversation with us the homeowner had his agent release him from his current listing and take it off the market, and then he hired us to sell his home. Our team went in and made a few very important changes to the way the home was marketed – raised the price just a tad to $1.4 million – and sold the home for full price in just 10 days.

 

Same home listed by 7 different agents, slightly higher price, WAY DIFFERENT RESULTS.

 

C’mon. That should at least get a “Hmmmm…” out of even the most skeptical of you.

 

MARKETING MATTERS

 

I hope that convinces some of you to at least consider that who you hire to sell your home matters.  I think it was Red Adair that said, “If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur.”  Scottsdale North home values have finally come back up. Don’t throw away your hard earned equity needlessly.  If you are thinking of selling your home or buying another consider our tag line and give us a call. “ In Scottsdale North Real Estate, experience isn’t expensive – its priceless.”

Written by Scott Gaertner on November 30, 2018

Terravita Celebrates 25 Years

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1993 was an ugly time in the world of real estate. Arizona was still in the grip of last national financial crisis before our 2008 meltdown, commonly called “The S & L Crisis.” There was little good news, as shortly before that time the country had been in a recession, new homes construction had dropped to its lowest levels since world war II, and 5 senators (2 from Arizona)  were being very publicly investigated by an ethics panel for their involvement with the Lincoln Savings and Loan collapse and it’s Chairman Charles H. Keating.

 

Terravita was a child of that S & L crisis and became a shining light for Scottsdale North and signaled the way forward.

 

In 1991 Terravita was just an exceptionally  beautiful piece of High Sonoran Desert at the foot of Black Mountain, with no real purpose . . . and in foreclosure. The Del Webb Corporation purchased the property from the Resolution Trust Corporation (RTC) even though it didn’t fit their normal business model. At the time they were famous for converting large tracts of agricultural land to into huge age restricted “retirement” communities like Sun City. They instead chose to build the smallest and the first non-age restricted community that Del Webb had ever built, and call it Terravita..

 

The name Terravita (Latin for Living Earth) signaled another dramatic departure from the company’s normal mode of operation. Rather than bringing in all the huge Caterpillar tractors to scrape the surface off of every inch of the land, they instead preserved the natural beauty and disturbed as little as possible. They relocated thousands of cacti and trees to embrace what became the communities motto and passion: Terravita – The Harmony of Land and Life.

 

The first home sales were the last week of November in 1993, and Terravita immediately became the fastest selling community in the United States. Six separate times, lifestyle seeking buyers camped out in the Terravita parking lot at the opening of new phases, to ensure they could get a homesite that they wanted. The longest campout lasted 10 days! In the end, what was planned to have been a 6 to 8 year sell out was gone in just 3.5 years. The community won tons of national industry awards, and spawned many copycat communities both inside the U.S. and out.

 

25 years later Terravita continues to be an incredible value for lifestyle seeking homeowners. The community will be celebrating its first quarter of a century this month with the grand opening of a completely renovated new clubhouse. I was proud to be a part of the Del Webb team that built Terravita back then, and even prouder to be helping folks discover the lifestyle Terravita and Scottsdale North represent today.

 

May Mid Month Update

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Good Morning! 

For those unfamiliar, you should know that Elliott Pollack is by far the leading economist in Arizona. Over the last thirty some years through the ups and downs I have gone to his presentations, studied his reports, stolen his power points, and marveled at the insight in his predictions. He puts out a weekly message and while this isn’t specifically about the Terravita real estate market, I thought you might find this week’s enlightening:

ELLIOTT D. POLLACK

& Company

FOR IMMEDIATE RELEASE

May 21st, 2018

 

The Monday Morning Quarterback

A quick analysis of important economic data released over the last week

The good economic news continues to abound in what was a busy week for data. Leading indicators were up as was industrial production, manufacturing and trade sales.  Retail and food sales were also up as was single family building permits. The supply/demand imbalance for single family homes continues to push housing prices up both nationally and in Arizona.  While the extent of the increase varies depending on the index used, home prices seem to be increasing at two to three times the level of wage gains. This can’t continue indefinitely. But, in the near term, it will create a great deal of home equity for those who own and will create affordability issues for those who don’t.

 

In Arizona, employment continues to grow.  For the state as a whole, employment was up 2.3%.  That’s enough to make Arizona the 7th most rapidly growing state in the U.S. for the first four months of 2018.  Greater Phoenix grew, as has been the pattern in this cycle, much more rapidly than the rest of the state, while Tucson lagged.  Yet, two new jobs announcements in the Greater Tucson area gave hope that Southern Arizona will do better than it has since the recovery began nine years ago.

 

Housing permits continue to be up at a double digit rate in the state’s two major metro areas.  No end to the rapid growth in housing is in sight. The shortage of existing homes for sale continues.  The increase in demand given the strong economy and the return of millennials to the housing market as well as the apparent lack of sufficient low priced new home deliveries seems to assure that.

 

Despite the age of the cycle, the outlook remains bright.

 

To read the article in its entirety click the link: Monday Morning Quarterback

October 2017 Terravita Market Update

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November 1, 2017 Terravita Market Update

HAPPY HOLLOWEEN FROM THE GAERTNER TWINS!

I just finished a 3 day real estate conference and was trick or treating last night so I will keep this short. Terravita had a good month for homes under contract and the Gaertner twins had a good night of Holloweening! Here is a video those of you looking for space might enjoy:Click Here> Bunkbed Couch

Here are the October 2017 Terravita Real Estate Market Statistics:

September 2017 Terravita Market Update

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October 1, 2017 Terravita Market Update

Even though our Octobers here in the valley don’t bring the kind of change seen in the photo above, we do still experience plenty of change. The monsoon season is officially over, mornings are darker and finally cooler, the golf courses change from summer to winter grass…and the Terravita selling season begins again! All good things.

This year has shown more change for the Terravita Real Estate Market. With 8 homes going under contract, September has certainly been an above average month for home sales. However, Terravita is now well behind on sales for the year. As I have mentioned here before, we don’t think this means the demand has changed, but rather it is what the buyers are demanding that has changed. Consequently, we have changed our tactics for both buyers and sellers and have already seen improvements for each. If you know anyone who is considering selling or buying this year have them give us a call. It will affect their results!

Here are the September 2017 Terravita Real Estate Market Statistics:

August 2017 Terravita Market Update

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September 1, 2017 Terravita Market Update

Just an FYI that your 2017 Terravita Pre-season Market Update will be hitting your mailboxes this weekend. If you don’t receive it or you prefer an electronic copy give us a call or send an email and we will get one right out to you!

Statistically speaking, August is one of the Terravita real estate markets worst months of the year.  Despite that, August turned out to be a very good month for sales with 7 homes going under contract and the average price still hovering around the $240 per square foot range. I know some of you are thinking the average price figure seems a little low, but that’s is the way it is for Terravita summer sales. They will generally be some of the lowest price per foot sales of the year. Which is why I generally take all my homes that haven’t sold off of the market June 30th. But to give you a little perspective on that price per foot, the monthly average for August of 2015 was $204 per square foot!

So be optomistic for the upcoming selling season. Homes properly marketed will sell for good numbers. If you know someone thinking of selling this season let us know. We promise to make you proud!

Here are the August 2017 Terravita Real Estate Market Statistics:

June 2017 Terravita Market Update

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July 1, 2017 Terravita Market Update

Happy July! Even for those of us who spend the majority of the month in Scottsdale, July can be a great month for family and celebrations. It’s also a good month to travel and I am fortunate to find myself writing this in the cool beauty of Park City, UT. I’m helping my oldest daughter to find a place to live here, as she begins her first job after graduating from NAU last month. If you have never been to Park City, you need to! (If anyone has a 2 bedroom rental in Park City she and her roommate need to move in August or September!)

While Terravita had a particularly hot month “weather-wise” in June, “sales-wise” it was about average with just 8 homes going under contract.  Foot traffic continues to be fairly steady and good so don’t be surprised if we see some decent sales numbers in July and August this year.

Arizona Central had an article this month that I thought you might find interesting as it could affect Terravita sales. The article, Empty nesters, Millennials shelling out to live in new Phoenix-area condos, from www.azcentral.com, reports that since last year, condo sales throughout the Valley have almost tripled, while prices are up 17 percent, outpacing gains for the housing market as a whole.  A year ago, some housing market watchers were concerned too many new condos were going up too fast in metro Phoenix. So far, sales and prices are beating expectations. Here are some excerpts:

  • More than 4,000 new condos were started or completed in the past two years.
  • The median price for new condos has climbed to $384,000 from $301,000 a year ago.
  • The median price for a new single-family home is approximately $302,000.
  • During the first quarter of 2017, 50 new condos sold, compared to 11 during the first three months of 2016.
  • The average price of a new condo is $547 per square foot.
  • Luxury condo sales have quadrupled from last year.

 “Condos are gaining market share in the Phoenix area, selling in larger numbers and seeing higher prices,” said real estate analyst Mike Orr with the Cromford Report. “The new attached luxury jewel-boxes (condos) are where prices are really climbing.” A shift toward denser infill housing for metro Phoenix is occurring mainly because of changing lifestyles of baby boomers and millennials, who want luxury residences with the amenities of an urban setting.  Also, rising home values, in general, are helping people sell homes farther out and move closer in. “Attached projects dominate the landscape in many parts of the Valley, but the reality is that about one in five infill projects is selling really well and others are struggling,” said real estate analyst Jim Belfiore of Phoenix based Belfiore Real Estate Consulting. Here is the link to the entire article: Empty nesters, Millennials shelling out to live in new Phoenix-area condos

Have a great & safe holiday!

Here are the June 2017 Terravita Real Estate Market Statistics:

July 2017 Terravita Market Update

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August 1, 2017 Terravita Market Update

The Terravita real estate market had what I would call an “average” July in terms of sales and sales prices. You will see below Terravita had 6 homes close escrow with an average price per foot of $239. That pretty well mirrors the May and June numbers and is very close to the annual average. Regarding the number homes going under contract – while the community had almost twice as many in July of 2016, the 5 we had this month is much closer to the normal number for July, anyway. So . . . with all the crazy things going on in the world right now, I look at an average month as a win!

Since there isn’t much to talk about in the market right now, and it’s too hot to go outside anyway, let’s switch to one of my favorite topics.

DEFINITIVE PROOF THAT MARKETING DOES MATTER!

Most of my readers – and all my clients – know that I am a bit obsessed with the belief that marketing really makes a difference when it comes to selling your homes.  The Terravita real estate market provided us with a brilliant example of that difference last month.

To illustrate the difference marketing makes I often compare our team’s sales statistics to other agent’s sales statistics. Results like better average price per square foot and average days on market can provide compelling evidence. But I know that many people are skeptical, like I am, when I see statistics in marketing. My favorite way to provide evidence examples is in apples-to-apples comparisons where it’s clear that the difference really is the marketing.  Up until now, the only way to do that is when we take over another agent’s listing. If our team relists a property formerly listed at the same price as the previous agent, what is different? The property is the same, the price is the same. . . marketing is the difference. Below are some of my favorite examples of when frustrated sellers have come to us after languishing for 9 or 10 months with another agent. We took over the listing and sold their homes in under 30 days:

A Terravita closing this month has provided us with another example we don’t often see.  Some of you may remember a testimonial from Jim and Toni Trucks back in 2015 when they said:

“… Scott’s Team   . . . sold our other home for more money than we expected, full price, in one day, and they did it for free because we bought one of Scott’s listings!!!”  ~ Jim and Toni Trucks

Well, that same home we sold for the Trucks went back on the market with another agent about 14 months later. It just closed escrow last week, but this time it sold for $23,000 LESS than the purchase price, and it took 403 days to do it!

*Above is the Arizona Regional MLS stats showing our sale in 2015 for $700,000 and this sale last month for $676,900

What better proof is there other than the facts?

Our logo isn’t just decorative.
When we say that you’ll SELL FASTER:NET MORE,  we really mean it.

We’re not another pretty face.  We’re The Gaertner Group.

Thanks for being a faithful reader.

Here are the July 2017 Terravita Real Estate Market Statistics:

Copyright © 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
IDX Solution Provided by iFoundAgent.com. ARMLS Listing Data Last Updated: January 29, 2022, 12:32 am
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