Kerry Grinkmeyer is a real estate agent with RealtySouth. I built one of the largest franchises within the Ameriprise Financial Advisor System; in 2005 I sold my business to my son my daughter and my nephew. In retirement, I wrote four books most noteworthy The Christmas Web - A Family Tradition. On December 26, 2014 our daughter lost her 12 year fight with cancer. I spent 2015 angry.
On January 1, 2016, I decided I need to change my focus; I became a real estate agent. I specialize in selling luxury homes in the Birmingham area. I believe that to effectively sell luxury homes they need to be marketed separately from the rest on the homes on the market and we (you and I) need to take advantage of advanced marketing methods offered through the Internet, print and broadcast media.
I've become aware that although the Birmingham real estate market as a whole is hot and thus a sellers’ market, this is not true in the luxury home market outside of Mountain Brook, parts of Vestavia and Homewood. It's not uncommon for there to be 30 active luxury home listings in a neighborhood and the six year past sales history telling us that fewer that 15 will sell over the next 365 days. Thus this is a Buyers’ Market, with more inventory than buyers. This is caused, in part by The Baby Boomer Sell-Off. So the chalange becomes one of positioning your home so that it is one of the 15 that sell and that takes some work beyond puting a sign in the front yard and a MLS listing. If you currently have a home on the market you may be puzzled why your home isn't selling.
The key to selling your home is to first determine who's going to buy your home.
This can be determined by analyzing data. Through data we can isolate past and future trends in the luxury home market. We can reduce your potential buyer’s pool from over 400,000 to less than 2,000.
Here’s what we do to identify your buyer.
· We determine the optimal price to ask for your home from past sales data.
· We determine where your potential buyer most likely currently lives, how long they've been in their current home, what they paid for their current home and how much equity they have in their home.
· We determine what their household income, and equity needs to be to be able to afford your home.
· With this information, we reduce your potential buyer pool down to less than 1% of the local population.
· We research and acquire this 1%'s names and addresses; this is Part A of your Target Market.
· We determine which real estate agents will most likely bring you your buyer based on past sales data, this is Part B of your Target Market.
· We size up the competition. If less than half of the homes on the market are going to sell over the next 365 days, you had better know where your home stands relative to the others on the market. This requires visiting the competition and scoring them against your home.
Now we market you home to your Target Market. See our Marketing Plan in the SELL section of our website.
The key to buying a luxury home is to buy the right home on the right terms.
- As in all markets most important is location, the right neighborhood, the right schools, the right amenities.
- Your home will be one of your largest investments, so you need to buy it right so that you maximize return on your investment when it's time to sell.
- Before you you start searching for a luxury home you need to read Best of US Homes Luxury Home Report, it will give you the stats on past sales data, price per square foot, number of current listings and current sales to listings inventory.
- There will most likely be changes that need to be made, we can help you connect with contractors that do quality work at fair prices.
- We work with the best financial sources in the state, your schedule and best rates.
"Doing the same thing over and over again, and expecting different results is the definition of insanity."...... Albert Einstein