Your home is not just a place; it's an investment. When it comes time to sell your home in Franklin, Highlands, Cashiers, or anywhere in Western North Carolina, it's a decision that carries significant weight. The person you choose to represent you in this transaction is crucial. You should consider many factors, and Vignette Realty, with its superior experience, is here to help you navigate this important decision.
Competency
Understanding a real estate agent's competency can be likened to the four levels of learning: Unconscious Incompetence, Conscious Incompetence, Conscious Competence, and Unconscious Competence. These levels help us understand the depth of an agent's knowledge and experience, which is crucial when choosing the proper professional to sell your home. Let's delve into these levels and how they relate to competency.
Unconscious Incompetence means a person is entirely unaware of a concept or an action. Conscious Incompetence is when a person is aware of the concept but doesn't know how to realize the actions necessary to follow through. Conscious Competence is a stage where the person knows how to accomplish a process, but they have to focus on completing the task, and they may not be aware of the finer points in reaching a solution. Unconscious Competency is when an individual has completed a task so often that they can complete it without being conscious of what they are doing. The task becomes a reflex response.
An example would be a physician who occasionally completes a medical procedure versus a physician who does nothing but the procedure. The physician who focuses on doing only one procedure is far more skilled than the physician who occasionally completes the procedure.
Many real Estate Agents hold licenses, yet they do not consistently engage in the business. They are, for all measures, part-time. In 2023, 180,000 homes were sold in North Carolina, while the real estate industry boasted 100,000 realtors. The math comes out to less than two houses per realtor. The average number of homes sold per agent in Western North Carolina is six and a half.
At Vignette Realty, our average agent completes over fifty transactions per year. This high volume of transactions translates to a wealth of experience. To put this in perspective, it would take the average agent in Western North Carolina seven years to obtain the experience of one year of an agent from Vignette Realty.
In many situations, sellers engage a real estate agent because they know them through daily interactions or because they are family friends. However, it's crucial to remember averaging six transactions yearly or less is a part-time job. Just like you wouldn't want a physician or a financial planner who only occasionally worked in their field, you should also look for a full-time professional when it comes to selling your home. This is why Vignette Realty's full-time commitment is not just a factor but a necessity to consider.
Understanding the agent's Key Performance Indicators is crucial for success in selling your home or property.
When we first decided to create Vignette Realty, our first step was to research Key Performance Indicators to set a measurement basis for our performance. After doing our research, we determined no key performance indicators such as hot prospects to leads, showings to hot prospects, offers to purchase to showings, signed agreements to offers to purchase, and so on. Most real estate agents are unfamiliar with the concept of key performance indicators. Most are Unconsciously Competent in the most critical concept of selling Real Estate.
Consider the average day to sell a home. This seemingly simple metric carries significant financial implications. Many agents sell a good volume of Real Estate listings, but if their average day-to-sale is in the 140 – 150 days range, it could mean a higher sale cost, including the commission. Understanding this metric can help you make more financially sound decisions.
Here's the math:
Let's break down the math. A $500,000 asset at an investment rate of 7% based on a simple interest rate comes to $35,000. On a compound basis, the amount jumps to $37,500. This represents a lost income potential of $102.73 per day. Now, let's talk about the costs of supporting the property. The estimated annual costs of insurance ($2000.00), taxes ($3000.00), the estimated monthly cost of utilities ($500.00), and maintenance ($300.00) total $14,600.00 or $40.00 per day, bringing the cost to carry the investment of the home to $142.73 per day.
Let's put this into perspective. Vignette Realty's 2024 average day to sell a listing was 85 days, costing $12,132.05. Compare this to the average days of sale of 140 days, representing a cost of $19,982.20. The potential loss by choosing an agent other than a Vignette Realty Associate is a significant $ 7,850.15. This highlights the importance of choosing who represents your property regarding your real estate transactions.
What is your agents marketing plan?
As a pioneer in innovative marketing strategies, Vignette Realty takes pride in its unique approach, which numerous agents and agencies in Western North Carolina have adopted. Unlike the average agent's strategy of putting out a cheap sign, posting the listing on the MLS, and sending an email blast, our approach is more comprehensive and practical. This adoption signifies our leadership and communicates it to the public. You can witness our influence as you drive through the region.
The average agent sells a half dozen homes per year, works less than 35 hours, generally sells a home because of a friend or family member, has no overhead, advertising expense, or technology investment, and does their clients a disservice by representing them. Why? Selling six homes a year will not give an agent the experience they need to provide sound advice, navigate the problematic North Carolina market, and negotiate effectively.
Marketing is not just about the aesthetics of a page or the message. In a market where the average consumer sees over 5,000 to 10,000 ads daily, reaching those genuinely interested in purchasing is key. Most business owners know that 50% of their advertising expenditures are effective but struggle to identify which 50%. Vignette Realty's expertise in effective real estate marketing strategies, honed over years of experience, becomes crucial to sellers listing their homes, instilling confidence in our ability to sell their property.
The creative aspect of marketing is a tiny percentage. Look at Tesla; they don't have a marketing department and spend nothing on advertising, yet they have garnered 33% of the electric vehicle market based simply on the quality of their product. How many Apple ads do you see? The seemingly disastrous website often has the best rankings with the highest traffic flow. Why? Because of the painstaking attention to detail in the code, not the aesthetics.
Take our dramatic increase in website traffic as an example. How do you generate 73% of your annual page views in four months? The answer is change. Focusing on the intent demonstrated in the market and capitalizing on public sentiment shows that change in business and marketing is a constant variable. It's a reminder that we at Vignette Realty are committed to adapting and evolving to ensure your success. We understand that we cannot continue to use the same plan repeatedly, and we are always ready to embrace change for your benefit.
With a rich history of 50 years in managing advertising and marketing budgets of over four million annually, we stand as a beacon of experience in the Western North Carolina real estate market. This extensive experience allows us to make informed decisions about where to allocate resources, ensuring our clients get the most effective marketing strategies. While this figure may seem small for some companies, it's a significant feat for our region. Our team's deep understanding of what works and what doesn't and where to place our bets is a unique advantage that no other agency in Western North Carolina can offer.
What investment does your prospective listing agent have?
Our cutting-edge technology at Vignette Realty is not just a tool but a strategic advantage that makes your real estate transactions more efficient and successful. It enables Vignette Realty to track transactions accurately, identify market price points, and spot opportunities investors and homeowners seek. These unique capabilities set Vignette Realty apart from other real estate agents, allowing us to investigate properties thoroughly, gain an advantage in negotiations, and share this valuable information with all parties involved. Our commitment to this technology is evident in our annual software budget, which exceeds $75,000.00.
With an annual advertising budget of a quarter of a million dollars, we ensure that our services are prominently featured for anyone interested in real estate in Western North Carolina. Our substantial online presence, maximized SEO, nationwide SEM campaigns, expansive direct mail initiatives, and top-tier follow-up process, all backed by our significant investment, contribute to our strong market visibility. This reassures you of our capabilities and commitment to serving you.
At Vignette Realty, our investment of approximately $200,000 annually in the right people, training, photographers, and processes is a testament to our unwavering commitment to delivering an exceptional product. We only hire the best photographers and ensure our staff meticulously coordinates every detail. Our team manages all transactions, schedules inspections and closings, and handles all communication and documentation, ensuring a seamless process. This dedication sets us apart and ensures our clients receive the highest quality service.
These are the prime questions clients should ask agents they may meet. What investment do they have in their business? What are the average days on the market for listings? What's their sale price percentage to the list price? What is their cost per home sold? How many leads do they get each month? How many site visitors do they have on their website? What SEO strategy do they employ? How many homes have they sold in the past year? More importantly, what business and negotiation experience do they have? At Vignette Realty, we represent our clients in a way no real estate agent can or will. We set out daily to exceed all expectations, ensuring our clients receive the highest service and representation.
What has made Vignette Realty successful? Our clients, who have become our friends, have made us successful. Vignette Realty in Western North Carolina could not do what we do without our authentic connections with this incredible group of people. Vignette Realty thanks you for your trust and for being an integral part of our success!
