The Pro’s Of Owning Condo’s – Lisa Bibbee
On this episode of The Closing Table, we sat down with Lisa Bibbee!
To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…
Here’s what you missed from Lisa Bibbee…
The conversation began with Lisa introducing herself as an individual with a passion for the outdoors, engaging in activities ranging from kayaking to ice fishing. A devoted gardener, she revels in getting her hands dirty and tending to plants.
As a real estate professional, Lisa has been licensed for just over 7 years, having grown up in a family immersed in the industry. Despite owning another business for two decades, she transitioned to real estate full-time. Specializing in finding unique properties, such as homes on lakes or backing up to state parks, Lisa discovered joy in fulfilling clients’ specific needs that don’t fit traditional criteria. Notably, she has achieved a high success rate, with most of her buyers’ offers accepted on the first attempt, a noteworthy accomplishment in a fiercely competitive market.
Geographically, Lisa covers the entire state of Michigan, with a primary focus on Southeast Michigan, particularly Oakland County and Kalkaska County. Her market includes diverse areas, necessitating tailored approaches when dealing with clients from downstate and those looking to move up north. Despite a shifting market, Lisa’s strategic approach has ensured quick sales and even bidding wars for the properties she represents.
Economically, Lisa notes a noticeable shift in the market, with properties taking longer to sell and more frequent price reductions, a trend uncommon in recent years. The distinction between downstate and up north markets lies in the prevalence of subdivisions in the former and the uniqueness and acreage of properties in the latter. This diversity requires Lisa to adapt her strategies for different client experiences.
Most of Lisa’s real estate content is centered around video production, shared across various platforms. Her shift towards video is driven by the understanding that people are inherently visual. She recognizes that potential buyers often look at pictures before physically touring a home, and videos provide a unique opportunity to convey the experience and story of a property. Lisa believes that videos allow buyers to truly immerse themselves in a home, fostering increased interest and potentially driving up the selling price.
When creating her videos, Lisa goes beyond the ordinary, treating them as mini-movies. She meticulously dresses up, crafts scripts, and aims to capture the attention of a broad audience. The goal is to make the property stand out and be memorable, going beyond the typical kitchen and bathroom shots. Lisa finds satisfaction in the genuine excitement she sees in potential buyers’ eyes during open houses, an engagement rarely experienced in the real estate world.
Despite employing various tracking technologies to measure ROI, Lisa emphasizes that the true value lies in the ability to sell a house for more money than comparable properties. She argues that being a realtor involves being a marketer, competing in a market where differentiation is key. Lisa’s role is to identify the buyer willing to pay top dollar and make the property stand out in a competitive market.
When discussing common mistakes made by home sellers, Lisa underscores the importance of strategy in achieving top dollar. While she can sell any house, she advises clients on a strategic approach to maximize value. Conducting pre-listing appointments, Lisa works with clients to create a to-do list that streamlines efforts, saves time and money, and ensures top dollar for the home. While all six listed mistakes are crucial, Lisa believes that staging has the most powerful impact, citing instances where it significantly enhanced the selling potential of a property.
Lisa’s YouTube channel consistently features content ranging from current listings to tips for buyers, sellers, and investors. The question arises: why should individuals in the real estate market consider working with agents who maintain a presence on YouTube?
Lisa explains that having a YouTube presence provides a convenient way for people to familiarize themselves with her. Prospective clients can watch her videos from the comfort of their homes, gaining insights into Lisa’s personality and helping them make more informed decisions about whether she is the right agent for them. This contrasts with traditional methods, where potential clients may only have a phone call to base their decision on. Through Lisa’s videos, viewers can see her style, read reviews from past clients, and gain a comprehensive understanding of how she interacts with those she serves.
Shifting gears, Lisa addresses the often-overlooked option of condominiums for home buyers. While single-family homes tend to be more popular, Lisa suggests that those struggling to find such homes should consider condos. She clarifies that condos come in various forms, including detached condos or duplex-style condos where two homes share a single wall. Lisa points out the advantages of condo living, particularly for individuals with busy schedules or those lacking the physical strength for exterior home maintenance. Condo associations typically cover exterior maintenance through HOA fees, freeing up time and effort for homeowners. Lisa also emphasizes the suitability of condos for the elderly who may find it challenging to perform exterior work.
However, Lisa cautions that buyers should carefully review condo association bylaws, as these can vary widely, impacting what is covered. Additionally, she highlights the importance of considering the association’s reserved cash on hand. Lisa shares a cautionary tale of an investor client who purchased condos in a complex with an underfunded association, leading to potential financial issues for homeowners if major repairs were needed. She underscores the importance of well-managed associations that plan for major expenses, such as staggered roof replacements to avoid sudden and hefty assessments on homeowners.
The ROCC Pod, short for the Royal Oak Chamber of Commerce Podcast, is a platform where local business professionals engage in discussions on various topics. As one of the hosts, Lisa sheds light on the value this podcast brings to the community and its listeners. Lisa expresses her enthusiasm for the ROCC Pod, highlighting its nearly three-year run as a platform featuring Royal Oak Chamber members. She emphasizes the significance of building relationships in business, asserting that people prefer to engage in business with those they know, like, and trust. The podcast serves as an avenue for the general public to get to know the local professionals on a personal level. During the episodes, business topics are explored in-depth, providing insights into the professionals’ work and often delving into their personal lives.
The conversation wraps up with Lisa discussing her recent book titled “Mastering the Art of Home Selling: 11 Strategies to Maximize Your Sales.” She provides a brief synopsis of the key factors covered in the book, emphasizing the importance of having a plan before selling a house. Drawing on her extensive experience, Lisa aims to share her strategies with readers to help them navigate the complexities of selling a home successfully. She invites people to grab their free copy of the book, underlining the value it offers in guiding individuals through the essential considerations and steps involved in the home-selling process.
Check out Lisa Bibbee:
Facebook: https://www.facebook.com/soldbylisab
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