Tag: Top Agents Market Homes

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Corporate Relocation

Virtual Staging: Increasing Your Home’s Appeal to Buyers

Virtual staging to increase your home's appeal to buyers

Many home sellers with vacant properties can increase their home’s appeal to buyers through virtual staging. Virtually staging a property is a cost effective option that provides sellers with attractive listing photos. These photos can be used in brochures, online listings, and other home marketing materials. As a result, buyers are more likely to show stronger interest in the home. Also, the photos will attract a much larger buyer audience.

What is Virtual Staging?

GMS spoke with Jay Bell and Krisztina Bell, Founders and Marketing Directors of Virtually Staging Properties (VSP). Jay and Krisztina agreed to share their industry knowledge on virtual staging and other aspects of staging properties to increase their appeal to buyers.

The Virtual Staging Process

According to Jay and Krisztina, virtual staging done by VSP starts with actual photographs that sellers provide. The process includes:

  1. Seller provides actual photographs to VSP
  2. VSP Professionals review the property details provided and develop a staging plan
  3. Current furnishings and décor are utilized to provide superior results and unmatched realism
  4. Photos are transformed into warm, inviting and attractive images that are transmitted to the client for use in marketing the property

The process results in significantly more attractive images that appeal to buyers. High quality and visually appealing photos show buyers what the home will look like with beautiful furnishing and professional staging. Buyers are more inclined to purchase when they see dazzling and engaging photos.

What are the Benefits of Virtual Staging?

Jay and Krisztina note a continuing trend toward a “virtual world” where the percentage of buyers who bid on homes without even seeing them keeps increasing. Home sellers want these buyers to see their property as attractive. In a virtual world, virtual staging has risen in importance to sellers. Benefits of this service include:

  • Customized approach fits every client’s needs
  • Home’s unique characteristics are highlighted
  • Cost effective solution appeals to budget-conscious clients
  • Works in any space: main living areas, flex rooms, outdoor areas
  • Quick turnaround time of approximately 2 business days once client correctly submits their order

VSP offers cost effective solutions that cover a number of scenarios and packages:

  • Pro Virtual Staging exclusively for professional home stagers and interior designers
  • Custom Virtual Staging
  • Express Virtual Staging (using furnishing from the VSP Express Inventory)

Virtual Staging Costs Versus Traditional Home Staging Costs

One of the greatest benefits of virtual staging is how the cost compares to traditional home staging. On average, clients using virtual staging receive a range of photos they can use for a one-time cost. VSP has options ranging from $39 per photo for Express to $60 per photo for Custom, with the total cost for a typical set of 5 staged photos ranging from $195 to $300 respectively.

By comparison, costs for traditional home staging are much higher. They may include $300-$600 for the first consultation, and $500 to $600 for each staged room on a monthly basis. Combined with a staging contract three-month minimum, and costs per month could rise to $2,000 or more. For traditional home staging, a total cost at the end of a three-month minimum contract may be over $6,000.

Combining Virtual Staging with Traditional Home Staging Provides the Best of Both Options

Jay and Krisztina offer both virtual staging and traditional home staging to their clients. These services have become complimentary marketing tools with agents and sellers. Their clients appreciate that they can traditionally stage all the main areas in a vacant listing and virtually stage other flex rooms and outdoor spaces while staying within their marketing budget.

Three major benefits of this approach include:

  1. Offering a form of staging that is economical for smaller budgets
  2. Assisting clients who do not want to have furnishings brought into their home
  3. Offering another option for clients who request furnishings they may not keep in their inventory

What Does This Mean?

Home sellers who are looking for a cost effective solution that will create attractive and realistic photos should consider virtual staging. Companies such as VSP offer a variety of solutions that can be customized to fit each client’s specific marketing needs. As a result, sellers will receive photos that draw interest from buyers. Sellers will also be able to reach a wider audience of buyers with their virtual staging photos.

Conclusion

GMS’ team of domestic relocation experts has helped thousands of our clients understand how to provide solutions for their new hires and transferees who are looking to buy or sell a home. Our network of top agents market homes following industry best practices. They will have knowledge that helps home sellers understand the best and most cost effective solutions to marketing their homes such as using virtual staging to create visually appealing photos for marketing materials.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

New SafeRelo™ COVID-19 Knowledge Portal

GMS recently launched its new SafeRelo™ COVID-19 Knowledge Portal featuring a number of helpful resources including:

  • Curated selection of news and articles specific to managing relocation programs and issues relating to COVID-19
  • Comprehensive guide to national, international, and local online sources for current data
  • Program/Policy Evaluation (PPE) Tool for instant relocation policy reviews

Contact our experts online to learn more about home seller marketing solutions such as virtual staging, or give us a call at 800.617.1904 or 480.922.0700 today.

Categories
Buy a Home Home Purchase

Mortgage Appraisal Versus Relocation Appraisal: What are the Differences?

A family with the realtor in front of the house they just had appraised

How does a Mortgage Appraisal compare to a Relocation Appraisal? Many Global Mobility Solutions clients offer home sale programs as part of a transferee’s relocation package. To facilitate the home sale, two appraisals are required. However, these two appraisals have very different purposes. Understanding these differences is important for clients as they work with their Relocation Management Company. Knowing the differences will help clients manage a successful relocation.

GMS spoke with Joe Gurth, Vice President at Fidelity Residential Solutions who agreed to share his advice and guidance on the differences between a Mortgage Appraisal and a Relocation Appraisal.

What are the Differences Between a Mortgage Appraisal Versus a Relocation Appraisal?

According to Joe Gurth, Fidelity Residential Solutions identifies 8 clear differences between a Mortgage Appraisal and a Relocation Appraisal. GMS clients should learn about these differences. They should also understand how the differences relate to their company’s relocation program.

In looking at these two types of appraisals, it is evident there are significantly vast differences in four distinct areas:

  1. Purpose
  2. Use
  3. Marketing
  4. Analysis

Reviewing these four areas with a goal of identifying the 8 clear differences between a Mortgage Appraisal and a Relocation Appraisal will provide important insight and clarity.

Area #1: Purpose of a Mortgage Appraisal versus a Relocation Appraisal

  1. A Mortgage Appraisal has a singular purpose: to provide an estimate of the home’s market value. This value may not correspond with the sales price on the purchase contract. In fact, some homes may appraise for more than the contract sales price. Alternatively, some homes may appraise for less than the contract sales price. By comparison, a Relocation Appraisal is meant to provide an estimate of the anticipated sales price. The value of the home is not a factor in a Relocation Appraisal; the only factor is the sales price.
  1. When a Mortgage Appraisal is created, the decision making timeframe is long term. Some mortgages may have a life of 30 years. As a result, mortgage lenders peer into the distant future to help ensure the home’s value will remain intact over the mortgage’s life term. By comparison, a Relocation Appraisal has a short term timeframe for decision making. This short timeframe may cover only up to 120 days. During these 120 days, the transferee’s relocation process will undergo planning, review, and implementation.

Area #2: Use of a Mortgage Appraisal versus a Relocation Appraisal

  1. A Mortgage Appraisal is meant to help facilitate the mortgage lending process. It is the mortgage lender who receives the Mortgage Appraisal. The lender may examine various indicators that reflect the home’s value, its condition, and other factors as they consider their lending decisions. By comparison, a Relocation Appraisal is only intended to help facilitate a corporate relocation. It is the client who receives the Relocation Appraisal. The client may be looking at indicators that relate to how long the home may stay on the market before it is sold. Most Client Relocation policies require two Relocation Appraisals be completed, then typically average those results to create the Corporate Buyout Price.

Special Appraisal Forms

  1. A Mortgage Appraisal is prepared using the Uniform Residential Appraisal Form (1004). This is conducted by a trained and licensed Mortgage Appraisal professional. These professionals usually work for a licensed Appraisal Management Company. This appraisal professional is working for the mortgage lender. By comparison, a Relocation Appraisal is prepared using the Worldwide ERC® Summary Appraisal Form (updated 2010). This is conducted by a trained and licensed real estate appraisal professional following Worldwide ERC®’s specific set of definitions and guidelines. This appraisal professional is working for the client.
  1. Included in a Mortgage Appraisal are points covering the design and appeal of a home, however these are not necessarily the major points for a lender’s consideration. By comparison, for a Relocation Appraisal the design and appeal of a home are of critical consideration. The short timeframe of a Relocation Appraisal (up to 120 days or 4 months) means design and appeal may have a significant impact on the corporate relocation process.

Area #3: Marketing Time and Market Value of a Mortgage Appraisal versus a Relocation Appraisal

  1. A Mortgage Appraisal’s marketing time may be thought of as comparatively unlimited. It is not tied to a specific, time-defined process. Mortgage terms have note specific dates, but dates may be able to change if the lender agrees. Terms such as the interest rate or points might also affect the timing. By comparison, a Relocation Appraisal is most certainly tied to a specific time-defined process. Marketing time is not to exceed the 120 days/4 month timeframe that covers the transferee’s relocation process.
  1. A Mortgage Appraisal is conducted only after a home has already been on the market. As a result, changes may have been instituted for the home’s marketing program prior to the appraisal. Any number of other factors may also have changed, perhaps in response to marketing feedback or issues homeowners have taken care of. All of this information may impact the market value of the home, and as a result may impact the Mortgage Appraisal. By comparison, marketing a home occurs after the date of a Relocation Appraisal. Also, each Appraiser must make an opinion about the time the home will be on the market.

Area #4: Retrospective Analysis with a Mortgage Appraisal versus a Relocation Appraisal

  1. What is a retrospective analysis for an appraisal? Such an analysis is an overall review of factors that could impact the appraisal’s results. These factors may include risks that could affect the sale price of the home. This information is specifically used for forecasting purposes. A Mortgage Appraisal does not provide for any forecasting in a retrospective analysis. By comparison, a Relocation Appraisal does include an element of forecasting. This is important for clients and their budgeting processes. With a forecast, clients can further understand aspects of the Relocation Appraisal that may impact budgets in the future.

What Should Employers Expect?

It is important for employers to expect that transferees who may be part of a home sale program during a relocation may not clearly understand the differences between a Mortgage Appraisal and a Relocation Appraisal. Employers should also expect that they are the client for the Relocation Appraisal. As a result, it is the employer who will receive the Appraisal from the professional.

What Should Employers do?

Employers should understand the difference between a Mortgage Appraisal and a Relocation Appraisal. Employers should determine how best to communicate guidance for their transferees. They may have a number of questions regarding their home’s Mortgage Appraisal versus the Relocation Appraisal. It is important for employers to work with their Relocation Management Company to understand the purpose and use of a Relocation Appraisal and how it relates to their company’s relocation and home sale program.

Conclusion

Global Mobility Solutions’ team of global relocation experts has helped thousands of our clients with their corporate relocation programs. We can help your company understand the differences between a Mortgage Appraisal versus a Relocation Appraisal. We can also help your company understand how these appraisals relate to your company’s home sale program with the expert assistance of Joe Gurth and the team at Fidelity Residential Solutions.

GMS was the first relocation company to register as a “.com.” The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Learn best practices from Global Mobility Solutions, the relocation industry and technology experts who are dedicated to keeping you informed and connected. Contact our experts online to learn more about the differences between a Mortgage Appraisal versus a Relocation Appraisal, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

Categories
Buy a Home Home Purchase

How Top Agents Market Homes

The GMS network of real estate agents consistently leads the industry in the way its top agents market homes. Each agent has access to the latest technology and best practices for marketing real estate. They must also meet Key Performance Indicators (KPIs) to ensure they meet GMS’ required level of performance in areas such as customer satisfaction.

The Top 25 Ways That Top Agents Market Homes

GMS spoke with Erik R. Brown of Compass, Realtor®, TV host, speaker, and author of “One in a Million: Everything You Need to Know to Find the Best Realtor®.” Erik agreed to share his industry knowledge and market expertise on all of the ways the GMS network of top agents market homes.

According to Erik, these are the Top 25 ways agents will market your home:

  1. Pre-List/Coming Soon Marketing

This is marketing for a home that is not officially on the market yet. However, it should be on the market within the next few weeks. Agents, buyers, and others can preview the home, but information is limited.

  1. Professional Copywriting
  1. Personalized Tours

Top Agents Market Homes with Effective Signage

  1. Yard Sign and Interior Signage

Keep in mind that certain locations may have restrictions on yard signs. For example, Homeowner Associations may require such signs to meet size limitations, or to be placed on the homeowner’s property, not association common areas.

  1. Professional Photography
  1. Interactive Video Showings

The National Association of Realtors® (NAR) notes three key tips to help realtors pivot to a virtual experience with video showings:

  • Choose the appropriate app
  • Communicate the size of the home
  • Debrief your client after the showing

These tips help realtors to present effective video showings.

Top Agents Market Homes with Customized Virtual and Video Tours

  1. Virtual Neighborhood Tours

Prospective buyers can visit neighborhoods from the comfort of their own home. Videos show various aspects of neighborhoods including parks, local stores, and amenities.

  1. Virtual and Video Home Tours

What is a virtual home tour? This is an online video that lets customers view a home in great detail without ever stepping foot inside. Top agents market homes with virtual home tours to help identify highly interested prospective buyers. Prospective buyers use virtual home tours to determine the specific homes they may actually want to see in person. Those who actually then visit a home are more likely to be highly interested prospects.

  1. Dynamic Physical and Digital Listing Brochures

Digital PDF flipbooks help bring homes to life and are easy to share and view electronically.

  1. Market to Targeted Online Groups
  1. Organic Social Media

Listening to customers is where organic social media really shines. Reviewing comments, shares, and other social interaction provides valuable information that can help refine messaging and bring key features to light.

Using the Multiple Listing Service

  1. MLS (Multiple Listing Service) and Top Realty Websites

According to NAR, the MLS is a “private offer of cooperation and compensation by listing brokers to other real estate brokers.” MLS provides an online system that allows listing brokers to easily find other brokers who are working with buyers to help sell their clients’ homes.

  1. Home Branded Website
  1. Online Broker Reciprocity

Reciprocity is a system where brokers allow other brokers to share their real estate listings. This helps greatly expand the marketing reach of the home’s listing. It also places real estate professionals in control of listings on the internet.

  1. Our Pre-Qualified Buyers

Events and Open House Help Top Agents Market Homes

  1. Live or Virtual Open Houses

A virtual open house makes use of technology to host attendees who want to visit an open house through an electronic platform. Top agents market homes on various platforms for virtual open houses. These platforms may include Facebook Live, Zoom, GoToMeeting, WebEx, YouTube Live, and Skype, among many others.

  1. Preferred Vendor Assistance

Homeowners may need help with projects around their home prior to selling. Preferred vendors with specific experience provide a ready and vetted source of expertise.

  1. Marketing Launch Summary

Marketing plans should be well-defined and include a full summary that shows how and when each marketing aspect will launch.

  1. Live Virtual Events

Live virtual events are designed to showcase a home’s key features. A virtual party might be held to show an outdoor space especially suited for gatherings. Alternatively, a cooking demonstration might be staged in a gourmet kitchen with upscale appliances.

Top Agents Market Homes using Technology

  1. Enhanced Physical or 3D Staging

Enhanced 3D staging provides an upscale and sophisticated visual experience. The technology increases appeal with high-end design and state-of-the-art visual staging techniques.

  1. Reverse Prospect Local Agents
  1. Text Message Campaign
  1. Social Media Targeted Ad Plan

Custom Email Marketing and Call Campaigns Help Top Agents Market Homes

  1. E-Blast and Cross Marketing

What is an e-blast? For real estate marketing, this would be a targeted message sent to a specific list of real estate prospects. Top agents market homes to a segment of prospects who will receive a targeted message. For example, they may have an interest in purchasing a home in the particular area. Alternatively, they may have an interest in purchasing a home that meets specific criteria.

  1. Call Campaign

A call campaign would center on a segment of prospects meet specific criteria depending on the location and home.

What Does This Mean?

Top agents market homes using the latest technologies and proven sales strategies. GMS’ network of real estate agents lead the industry in customer service and performance excellence. These services also enable real estate agents to provide clients with best-in-industry solutions, valuable information, and expert guidance.

Conclusion

GMS’ team of global relocation experts has helped thousands of our clients understand how to provide solutions for their new hires and transferees who are looking to buy or sell a home. Our network of top agents market homes following industry best practices while leveraging state-of-the-art technology to help sell clients’ homes with superior results.

GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators, and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.

Contact our experts online to learn how top agents market homes, or give us a call at 800.617.1904 or 480.922.0700 today.

We're Here to Help! Request a Courtesy Consultation

Are you ready to talk to a Mobility Pro? Learn how GMS can optimize your mobility program, enhance your policies to meet today’s unique challenges, receive an in-depth industry benchmark, or simply ask us a question. Your Mobility Pro will be in touch within 1 business day for a no-pressure, courtesy consultation.

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About

Contact Us

About Us

GMS Client Login

Privacy Policy

Other Services

Our Technology

Global Relocation

Group Moves

U.S. & Canadian Relocation

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

About

Contact Us

About Us

GMS Client Login

Privacy Policy

Address

Global Mobility Solutions
15333 N. Pima Road
Scottsdale AZ, 85260

1.800.617.1904
Available 24/7/365

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