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Real Estate Agent Photos and Perceptions. Tips to Increase Your Business with the Right Photo.

July 10, 2012 By Leave a Comment

Real Estate Agents have been told time and time again putting photos of themselves on their marketing material will increase business.  We discovered with the right photo an agent can win business and with the wrong photo an agent can lose business to their competitors.

Remember the phrase “perception is everything” Well the phrase definitely is true when it comes to home owners picking real estate agents on the basis of their visual image.

Daily Properties surveyed 50 people between the ages of 25 to 65 who are in the market to buy or sell a home in the next five years in the United States and Canada. The survey focus was to understand which real estate agent portrait photos used in their marketing material homeowners and future homeowners would gravitate to when choosing an agent to represent them as well as to see which agents portrait photos they overlooked and why.
Below are our findings:

Pay for Professional Photos
100% of our survey respondents felt more comfortable with agents who had professional photos. This makes complete sense because why would someone trust an agent with their biggest asset to sell if an agent can’t invest in their own marketing. Amateur photographs and agent photos gave a perception of lack of marketing funds, disorganization, that the agent will make mistakes in the sales process possibly resulting in litigation.

 

Show Teeth
Agent’s dentists are going to praise us for this finding. 97% of the people we surveyed gravitated to agents who showed teeth while smiling in their photos.

 

Avoid the Miami Vice 80’s Color Backdrop Cloths.
Walk away from the portrait photographer who uses outdated backdrops, which were popular in the 80s. The pink, teal, purple, blue brown, grey colored blotchy backdrop cloths were great for your 80’s elementary or prom photos but not appealing in the 21st century.  Out of 50 people surveyed not one chose an agent who used such backdrops.

 

Acceptable Backdrops
Our survey respondents choose agent portrait photos that generally used one of the three following backdrops
1) White or grey, paper backdrop with professional lighting
2) Outdoor shots in a park with professional lighting
3) Buildings  in the background at dusk or an overcast day with the use of professional lighting

 

Updated Photos
Even if you don’t think your photos are outdated, the public might think differently. Agents should update their photos at least every 2 years. Our survivors felt uncomfortable with any agent photos they could see were out of date. Some of the survivors felt an out of date photo made them feel the agent might not be current on the trends, rules and regulations to market and sell their property effectively and didn’t feel comfortable trusting their biggest asset (sale or purchase) with such folks.

 

Definitely Smile but don’t be a Clown
A year ago a lead editor at Daily Properties came across an agent’s business card where the agent was dressed as a clown with the phrase “I don’t clown around” as their motto. They might have a memorable card but in our survey it was felt the agent wasn’t serious enough to do a good job. This being said, clowning around photos are not going to increase an agent’s business. Avoid pointing at the camera, wearing silly hats or posing with your hands in the air like you are the next messiah or holding your pet in your lap.

 

Filed Under: Real Estate Facts Tagged With: Marketing Real Estate Agents, Real Estate Marketing

Comparing Canada and United States Housing Finance Systems – Some Interesting Facts

February 13, 2012 By 1 Comment
  • Canadian government does not have a goal of increasing the rate of home ownership. Rather, they encourage the availability of housing across a variety of tenure types – home ownership, rental housing, supportive housing and transitional housing. The housing needs of low-income Canadians are addressed through government assistance programs.
  • In the United States, federal policy actively encourages home ownership. Consistent with this policy, Fannie Mae and Freddie Mac, as government-sponsored enterprises were, before the recent economic downturn, required to support mortgages to low-income borrowers in specific neighborhoods and geographic areas, as well as to other high-risk groups. At the same time, as privately owned companies, Fannie Mae and Freddie Mac endeavored to maximize shareholder returns.
  • In Canada, the Bank Act prohibits federally regulated banks from providing residential mortgages without mortgage loan insurance if the loan is greater than 80 per cent of the purchase price or value of the home. This insurance, which can be purchased from Canadian Mortgage and Housing Counsel or private insurers, covers the entire amount of the loan and is for the entire life of the mortgage.
  • In the United States lenders are not legally required to use mortgage loan insurance. However, because Fannie Mae and Freddie Mac are prohibited from purchasing uninsured mortgages when the borrower makes a down payment of less than 20 per cent, U.S. lenders will often require mortgage loan insurance.
  • In Canada, the most common mortgage is the five-year fixed-rate closed mortgage. Historically in the United States, the most common mortgage has been the 30-year fixed-rate open mortgage.
  • In Canada, mortgages are typically “full-recourse” loans, which means the borrower continues to be responsible for repaying the loan even in the case of foreclosure. Lenders can take legal action to recoup money from the homeowner if a foreclosed home is sold for less than the amount owing on the mortgage, plus many of the costs incurred by the lender. In many United States jurisdictions, mortgages are “non-recourse,” which means that borrowers can often walk away from their homes and the associated mortgage debt, leaving lenders with no recourse beyond the property.
  • The sub-prime market did not take hold in Canada to the extent that it did in the United States. During the period leading up to the economic downturn the vast majority of mortgages in the U.S. were originated by third parties and were ultimately packaged and sold to investors who often did not understand the associated risk. Most mortgages in Canada are originated and retained by financial institutions whose goal is to maintain a long-term relationship with the borrower. Even when a mortgage is securitized, the originating lender most often continues to service the mortgage.
  • The resilience of Canada’s housing finance system during the recent financial crisis may be linked to a combination of factors, including prudent lending practices, a strong banking sector, careful regulatory oversight, supportive government involvement in mortgage insurance and securitization, and Canada’s broader public policy backdrop, which does not place undue preference on homeownership.
  • About 29 per cent of Canadian residential mortgages have been securitized, compared to about 60 per cent in the United States. Almost all securitized Canadian mortgages are funded by mortgage-backed securities (MBS) guaranteed by Canadian Mortgage and Housing Counsel under the National Housing Act. Over half of those MBS were held by the Canada Housing Trust, funded by Canadian Mortgage and Housing Counsel -guaranteed Canada Mortgage Bonds (CMBs).

Canadian Versus United States Real Estate & Mortgage Facts

 

Filed Under: Real Estate Facts Tagged With: Canadian Real Estate, Fannie Mae Freddie Mac, Housing Market Facts

Most Expensive Houses -The Top Cities with the Most Expensive Luxury Mansions

October 20, 2011 By Leave a Comment

Cities with the most Expensive Houses in United States

Are you ready to buy your Luxury  Mansion Real Estate Property?
1. Manalapan, FL ($9,692,778)
2. Aspen, CO ($8,064,239)
3. South Florida, FL ($7,528,824)
4. Hillsboro Beach, FL ($7,222,554)
5. Snowmass Village, CO ($7,147,449)
6. Belvedere, CA ($6,949,545)
7. Montecito, CA ($6,621,727)
8. Snowmass, CO ($6,438,308)
9. Belvedere Tiburon, CA ($6,164,947)
10. Barksdale, TX ($6,024,513)
11. Los Altos Hills, CA ($5,946,000)
12. Pebble Beach, CA ($5,780,497)
13. Beaver Creek, CO ($5,528,598)
14. Sagaponack, NY ($5,518,765)
15. Alpine, NJ ($5,415,700)
16. Palm Beach, FL ($5,166,459)
17. Golden Beach, FL ($5,020,925)
18. Bridgehampton, NY ($4,968,486)
19. Water Mill, NY ($4,851,352)
20. Glenbrook, NV ($4,813,643)
21. Bradbury, CA ($4,755,073)
22. Atherton, CA ($4,731,294)
23. Newport Coast, CA ($4,619,901)
24. Gulf Stream, FL ($4,564,743)
25. Carpinteria, CA ($4,527,652)
26. Beverly Hills, CA ($4,522,328)
27. Hillsborough, CA ($4,505,619)
28. Ross, CA ($4,496,579)
29. Sea Island, GA ($4,495,372)
30. Tiburon, CA ($4,467,866)
31. Mountain Village, CO ($4,404,560)
32. Rancho Santa Fe, CA ($4,398,341)
33. Sands Point, NY ($4,350,757)
34. Greenwich, CT ($4,304,462)
35. Big Sur, CA ($4,289,957)
36. Malibu, CA ($4,271,358)
37. Purchase, NY ($4,232,976)
38. Bedford Corners, NY ($4,224,367)
39. Saddle River, NJ ($4,180,955)
40. Wilson, WY ($4,179,767)
41. La Jolla, CA ($4,017,124)
42. Hana, HI ($3,999,073)
43. Rolling Hills, CA ($3,989,614)
44. Eldorado, TX ($3,946,119)
45. Old Westbury, NY ($3,944,421)
46. Laguna Beach, CA ($3,913,259)
47. Cherry Hills Village, CO ($3,894,833)
48. Avon, CO ($3,877,436)
49. Kings Point, NY ($3,876,459)
50. Hidden Hills, CA ($3,669,654)

The numbers  reflecting Most Expensive Houses – Most Expensive Luxury Mansions are per-house average in each city indexed by the Trulia search engine.

Filed Under: Real Estate Facts Tagged With: Luxury Mansions, Most Expensive Houses

Fun Real Estate Facts

October 20, 2011 By 2 Comments

Below is a few interesting Real Estate Facts we discovered and wanted to share

26 Real Estate Facts & Mortgage Facts

  1. According to Zillow, 28.4 percent of all single-family homes with a mortgage in the United States are now underwater.
  2. Zillow has also announced that the average price of a home in the U.S. is about 8% lower than it was a year ago and that it continues to fall about 1 percent a month.
  3. Westminster South Carolina has the largest percentage of big homes – averaging 16,129 sq ft
  4. U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble.
  5. During the first quarter of 2011, home values declined at the fastest rate since late 2008.
  6. According to Zillow, more than 55% of all single-family homes with a mortgage in Atlanta have negative equity and more than 68 percent of all single-family homes with a mortgage in Phoenix have negative equity.
  7. U.S. home values have fallen an astounding 6.3 trillion dollars since the housing crisis first began.
  8. 63% of renters say that owning a home is a priority in the future. 40% say it is one of their highest priorities and 25% are thinking more about buying a home today than they were just a year ago.
  9. 32% of owner occupied housing units are owned free and clear.(US Census Bureau)
  10. 70% report that home values have stabilized in their area as Zillow says differently
  11. 79% of buyers in the market say it’s difficult to save enough money for a down payment and closing costs.
  12. 73% worry about qualifying for a loan, and 80% say high unemployment and job insecurity are potential barriers to home ownership.(NAR 2010 National Housing Survey)
  13. In February, U.S. housing starts experienced their largest decline in 27 years.
  14. New home sales in the United States are now down 80% from the peak in July 2005.
  15. Historically, the percentage of residential mortgages in foreclosure in the United States has tended to hover between 1 and 1.5 percent.  Today, it is up around 4.5 percent.
  16. According to RealtyTrac, foreclosure filings in the United States are projected to increase by another 20 percent in 2012.
  17. It is estimated that 25% of all mortgages in Miami-Dade County are “in serious distress and headed for either foreclosure or short sale”.
  18. Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months.  Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.
  19. Sales of foreclosed homes now represent an all-time record 23.7% of the market.
  20. 14 4.5 million home loans are now either in some stage of foreclosure or are at least 90 days delinquent.
  21. According to the Mortgage Bankers Association, at least 8 million Americans are currently at least one month behind on their mortgage payments.
  22. In September 2008, 33 percent of Americans knew someone who had been foreclosed upon or who was facing the threat of foreclosure.  Today that number has risen to 48 percent.
  23. During the first quarter of 2011, less new homes were sold in the U.S. than in any three month period ever recorded.
  24. According to a recent census report, 13% of all homes in the United States are currently sitting empty.
  25. In 1996, 89 percent of Americans believed that it was better to own a home than to rent one.  Today that number has fallen to 63 percent.
  26. According to Zillow, the United States has been in a “housing recession” for 57 straight months without an end in sight.
Fun Real Estate Facts - Data complied from
- Buffini and Company Magazine, Jan 2011
- Zillow
- RealtyTrac
- Mortgage Banker Associciation
- US Census Bureau
- Truila
Filed Under: Real Estate Facts Tagged With: Fun Real Estate Facts