Sunday, January 31, 2010

Charlotte Property Management Weekly: Which is Better? Colts or Saints? Sale, Rental, Rent-To-Own, or a Combination?


“I’ll always do what’s in my client’s best interest.” (Dutiful Charlotte Realtor)

“…That new technologies replace existing ones because they are cheaper and more consumer-friendly.” (Harvard professor Clayton Christensen on “disruptive technologies”)

“…The Indianapolis Colts opened as a four-point favorite to beat New Orleans in the Super Bowl.” (Yahoo Sports, 1/24/10)

Super Bowl time is here which means there will be rampant speculation about which team is better. Most people from Indianapolis don’t think there is anyway Peyton Manning will let them lose, while New Orleans fans think that destiny is on their side. Of course, no one knows exactly who is right, but that doesn’t stop them from arguing about it non-stop for two weeks.

One way to try to figure out who will win is to look how they played in the regular season and equate this to who has the advantage if the game is played a certain way. For example:

1. If it is a great weather and a lot of points are scored, the Saints should have the edge. (The Saints were the #1-ranked team in total offense this year and the Colts were #9)
2. If it is a defensive struggle, the Colts should win. (Colts were #18 in total defense, while the Saints were #25)
3. If the weather is bad and teams need to run the ball, the edge goes to the Saints. (The Saints were #6 in total rushing and the Colts were #32)
4. If there is a lot of passing, the Colts should have the slight edge (The Colts were #2 in passing while the Saints were #4)

The point is that different circumstances will favor a certain team’s strengths, thereby giving them the advantage.

The same methodology can be used when helping a client figure out the best strategy to market their home. If the:

1. Client needs to sell immediately and can afford to wait: Sale
2. Client wants to sell but cannot afford to wait long: Sale and rent-to-own marketed concurrently
3. Client wants to hold the property as a long-term investment: Rental
4. Client is ambivalent; they just want to move: Sale, rental, and rent-to-own marketed concurrently
5. Client wants to sell and has plenty of equity in the property to sell (owner-occupied): Sale
6. Client can sell if they receive a market offer: Rent-to-own
7. Client does not have enough equity to sell: Rental or short sale
8. Client wants to sell and the home is vacant: Rent-to-own

Just as different game situations favor a certain team’s strengths, different client needs favor different sales methods. One size does not fit all! Great agents know this and strategize accordingly- that is why their clients love them!

My prediction: Saints 31, Colts 21. Happy picking!

Brett Furniss is the President & Owner of BDF Realty, “Charlotte’s Most Innovative Property Management & Investment Company”specializing in rent-to-own (lease options) and rent-to-sell homes. You can follow his Twitter thoughts on the Charlotte real estate market by clicking on http://Twitter.com/BDFRealty. He is the author of the FREE E-Manual entitled “How to Rent-To-Sell Your Own Home” (http://www.RentToSell.com/RTS-Book.html) which details how to get the most potential buyers to your home in this challenging real estate market.

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