Tag Archives: Maryland Real Estate News

Creig Northrop Featured in LORE Magazine

The Voice of the Triumphant Agent

Creig Northrop’s team was the No. 5 team ranked by transaction sides in the LORE/Wall Street Journal 2009 Top 400.

LORE: What challenges do you face today?
Northrop: Certainly we face the challenges of the market and financing arenas. A huge challenge is getting people qualified because of stricter guidelines and the fact that appraisers are stricter on value. It’s challenging to get people confident in the economy and the housing market. Let’s face it; once they do decide to buy they have to jump through 1000 hoops for financing. We’re seeing that financing has opened up a little more. Banks went from giving everyone a loan to giving no one a loan and that was difficult. Now, we’re in the right direction, we’ve got the confidence back up but housing prices haven’t yet stabilized but they’re in the right direction.

LORE: What are you doing to overcome these challenges?
Northrop: We’ve gotten creative and worked harder. I’ve been through every market from 17 percent interest rates to now. That experience allows me to strategize and get through the market. You’ve got to be flexible enough to adapt to market conditions, you must change your ways.

I enlisted the help of a great financing person who works for me to help me get things through the system. An in-house lender has been a big help.

We’ve also refocused our practice to buyers. I’ve got a lead generation manager and her focus is to cultivate buyers—follow up and follow through. Sales people are good at getting the lead but not maintaining and closing it. She will massage and work through that process, gets buyers what they need when they want it.

On the seller side, we’ve increased our marketing while others are decreasing their marketing. By doing so, it’s almost like a spotlight sits on all of our marketing right now. The market notices when you start cutting your advertising back, so we made it stronger, more consistent. We’ve also increased our Internet marketing

LORE: How have you revamped the business to meet the current needs of clients and customers?
Northrop: Get back to the basics by enhancing customer services. I’ve made my company leaner. I have very productive people doing a lot of things. We combined our listing and transaction coordinator positions into one position—client care coordinator. This one person takes everyone from listing to the settlement table. It’s made it beneficial on the relationship side. It’s about the future of our sales, not just today.

LORE: What do you see as the successful sales associate of the future?
Northrop: There are three different types of buyers: old school, new school and echo boomers. In order to maintain, you must adapt to all three types of buyers. Old school still reads the newspaper. With the new school, you better be all over the Web. They’re very information oriented. They gather information and they want results. The echo boomer is about instant gratification, such as texting. You must respond to texts. All of my properties have text riders on them.

The agent of the future has to learn how to deal with all sets of these three generational buyers. I think putting yourself in one market is not the wave of the future, Teams are the wave of the future. One person can’t do what is required anymore.

Knowledge is confidence, confidence is trust and trust is the sale. Learn it before you sell it so you’re confident and can earn trust. You can’t just jump in to real estate or a market niche; you must know every house on every street in your area.

Source: LORE Magazine, Tracey Velt (7/7/2009)

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The Nine Step System to Get Your Home Sold Fast and for Top Dollar!

Selling your home is one of the most important steps in your life. This nine step system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home-selling process:

1. Know why you’re selling, and keep it to yourself.
The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What’s more important to you: the money you walk away with or the length of time your property is on the market? Different goals will dictate different strategies.

Your agent needs to know your goals and plans to work with you to achieve them. However, don’t reveal your motivation to prospective buyers or they may use it against you at the negotiating table. When asked, simply say that your housing needs have changed.

2. Do your homework before setting a price.
Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home, but pricing too high is as dangerous as pricing too low. Remember that the average buyer is looking at many homes at the same time they are considering yours. This means that they have a basis of comparison, and if your home doesn’t compare favorably with others in the price range you’ve set, you won’t be taken seriously by prospects or agents. As a result, your home will sit on the market for longer than average and may result in more price reductions being necessary if the market drops further.

3. Study the comparables.
(In fact, your agent should do this for you). Find out what homes in your own and similar neighborhoods have sold for in the past 3-6 months, and research what current homes are listed for. That’s certainly how prospective buyers will assess the worth of your home. A proper analysis includes looking at square footage and upgrades and takes location into account.

    The 7 Deadly MistakesMost Home Sellers Make
    1. Failing to analyze why they are selling.
    2. Not preparing their home for the buyer’s eye.
    3. Pricing their homes incorrectly.
    4. Selling too hard during showings.
    5. Not hiring a “killer” agent.
    6. Making it difficult for buyers to get information on there home.
    7. Failing to obtain a pre-approved mortgage for ones next home.

Check back soon for the continuation of this article.

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Carroll County Real Estate Market is Booming!

Carroll County is doing its’ part jumpstarting the housing market. In the last 30 days 167 homes went under contract. With an amazing 152 average days on market they are selling! This is up from the same period last year only producing 67 home sales. Year to date Carroll has settled 845 properties with an average of 141 days on market! Homes are selling and on The Creig Northrop Team we have sold 107 homes year to date UNDER 30 Days.

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Filed under Maryland Real Estate News