The Lake Martin Real estate market, like every other one in the country, has changed irreversibly.
When my father Walter started in the business in 1973, the process was pretty much the same as when my grandfather Temple founded Coley Real Estate in 1953. If you were a seller in the Lake Martin Area, and wanted to know what your home or lot was worth, you had to call an agent. In 1953, in what is now the Lake Martin Area, there were two agents. In 1973 I think there were three. The process was - you called an agent, made an appointment, and physically came into the office. Then you two would discuss your home. He would tell you what home sales trends were. There was no Lake Martin Multiple Listings Service. No Lake Martin Homes Magazine. Certainly no Internet. You were totally dependent on the keepers of the information, the real estate agent.
Now, obviously, it is all different. A Realtor’s office is no longer a thickly
walled, heavily guarded fortress of information. The web has enabled (almost) perfect information about sales prices and trends. The MLS (Multiple Listings Service) web site is open to the public and easy to search.
So why do you still need a realtor now? Especially if you’re a seller - you don’t need an agent if Lake Martin is still such a seller’s market, right?
Wrong- the value of a great agent lies not so much in the mere possession of the data (MLS #s), but in how you interpret it, and what you do with it.
It’s kind of like stock quotes. Closing sale prices of stocks and mutual funds are free and public information. When you pay a financial counselor to help you with your retirement savings, you are paying them to give you advice on how to interpret the data. The value isn’t the knowledge of what XYZ Company’s stock closed for on a given day. The value lies in knowing when and for how much to sell or buy and why. Could you imagine picking a financial counselor based solely on the fact that he has access to stock quotes? No, because a small mistake in interpretation can cost you lots of money.
The value of a great realtor lies not so much in telling you what the lake home on 123 Easy Street sold for, but how that relates to your lake home, or the waterfront lot / home that you want to buy. Next, a great realtor executes a marketing plan to go out and sell your property instead of merely sticking a sign in the yard.
So, when looking for a realtor to help you value your Lake Martin property, don’t pick one that guards information like the sacred scrolls. Pick one that is focused on you, that asks you questions about your want and your needs. The more questions a realtor asks you, the better chance that he can get a feel of how to best serve you.
I work extremely hard to help people get what they want, but I don’t work for free. I give away my advice and information on Lake Martin real estate because I want my clients to be a part of the sales process, not feel like I am posing as the wizard behind the curtain. After I give them the information for free, then I can focus on marketing their home uniquely or finding them the home that matches their exact tastes.








Why would you need an agent to price your home? You can get home comparisons at http://www.zillow.com and also get an estimator which many banks require anyway.
KieranMullen
Response to comment 1
I just put my lake martin home into Zillow and it gave me the wrong number of beds and baths. It also had no estimate of value and the comparison was on the tax assesment. Zillow is worthless at this point.
Since zillow is based off of public records and not some data they madeup, perhaps ypyou should look into why it is wrong. It would be stupid to assume that it is their fault. Its like saying news.google.com reports bad news, when they just display info from other souces. ….Flawed logic.
Perhaps your taxes are lower than they should be.. perhaps you made an addion that was not reported etc..
KieranMullen
Kieran – Thanks for the input, but I think you might be very unfamiliar with Lake Martin. Cliff is right. Zillow zestimates are inaccurate on our lake because it is situated in 3 different rural Alabama counties. 1 county is not online at all. The other 2 may not have accurate tax data and do not share mls numbers with zillow. The main big reason zestimate is inaccurate is because on Lake Martin the lot value is an extremely high % of the value of a home, due to view, waterfront footage, water quality, and a whole host of other factors that currently Zillow can’t quantify in our area. Instead of calling someone “stupid” – perhaps you should research Lake Martin a bit more and get educated. Feel free to read the rest of the articles on my blog. http://Www.lakemartin.com is another good source. On the forum there I posted my comments on the zillow zestimate as it relates to Lake Martin. See below.
I think Zillow works the best in neighborhoods that were:
a.) built en masse by the same builder (therefore would have similar finishes) at the same time
b.) have similar lot sizes and grades (to remove lot’s value variance as much as possible)
c.) are 2 to 5 years old (old enough to be in the tax records but not too old to have a lot of second owner upgrades)
d.) located in cities / counties with really good tax records that are online and free
e.) located in MLS areas that share real time sold prices data to Zillow.
If you have all of the above, Zillow gets within about 10%. But then again you could probably get within 10% by riding around in the car. once you start (at e moving to a) removing the above, it gets less and less accurate.
For these reasons we’re a long way off from having Zillow to be accurate on Lake Martin. Even if we have all of the above, the lot price is so important on the lake, I doubt if I ever would trust it 100%.
Hey there, I have you listed at my site as well as at the Blog Carnival site itself as the upcoming host for the 23rd. I don’t know if the email entries will come straight to you or not. If they come to me first I will forward them to you as soon as I get them.
This week’s edition is up over at The Bull Speaks.
Thanks for volunteering.
Consumer-Oriented Carnival Line-Up of the Week…
Driving down 315 from Delaware, Ohio to Columbus and Cooper Stadium is a favorite past-time of ours, especially tonight. Nothing beats a great baseball game — and dime a dog night!*
Stuffed with hot dogs – vendor didn’t have change for a …
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Cool!!! Good point of view, loved it. Great site, congratulations.