Here at Floor Coverings International® of , we meet a lot of homeowners and prospective homebuyers looking to increase the value of their homes. However, there’s always more to learn so we can serve you better! We had the great pleasure of getting to know Bruce Rayburn of The Rayburn Group here in Plano, Texas and want to share his insight with you. Take a look at the full interview here and find Bruce and his team on their website or Facebook page!
A Bit About Bruce.
Bruce Rayburn is the founder and lead Broker Associate of The Rayburn Group in Plano, Texas. Associated with Ebby Halliday, REALTORS since 2002, Bruce leads a team of five agents that annually ranks among the highest-producing and most successful groups of agents in the Dallas – Fort Worth and North Texas area. Bruce’s background and expertise in residential construction, architecture and design, and his experience as a real estate investor early in his career, give him an exceptional insight into today’s residential real estate market.
How would you describe local Plano real estate in 2018?
According to Bruce, the current challenge faced by many real estate companies across Texas is a critical shortage of inventory. However, there is no lack of buyers. Bruce recently received 19 separate offers on one of his listed homes; an exceptionally high number reflecting the current imbalance between the number of buyers in the market and the number of homes listed for sale. In today’s market, if a home stays on the market for as long as 30 to 45 days, there may be an issue with its condition, quality or location. Or, it may be priced above the market. Bruce explained that often, buyers get frustrated after extended searching and failing to find anything that matches their needs and they decide to wait instead, effectively taking themselves out of the market. Additionally, a lack of inventory often drives the price point up, so many of the houses are not realistically priced and this can drive many potential homebuyers out of the market.
What is one piece of advice you have for local homeowners looking to sell?
“More than anything else it’s understanding and listening to what the client really wants, and that takes some time, because many times I find that what clients initially say their goals are change. So the strategy is to have the flexibility of listening and reading between the lines. Many times with couples, what the wife wants is different than what the husband wants. So to some extent, it’s also mediation between the couple as far as their wants and needs because that can be two different things.” Bruce explains to the sellers that the condition of their home will dictate the price that his team will be able to achieve for them in the timeline that they have set in their mind.
What is one piece of advice you have for those looking to buy in Plano?
“Be realistic in setting expectations. We don’t want anybody to buy a home that they can’t afford–we don’t want to end up back in a price bubble, with everybody overbuying”, says Bruce. “The lack of inventory has reduced the choice of houses, so homebuyers may feel pressured into buying something they may not be able to afford, which can become a big issue”. As a professional Realtor with many years of experience, he wants his clients to look back and tell everyone that they are still excited about the process and hopes he was able to help them achieve their goals.
What kind of interior remodels would you recommend for a homeowner to increase the value of their house? Is there a specific flooring style that homebuyers are looking for?
“Because I show homes to potential buyers every week, I am attuned to the many different styles of flooring available and what todays buyers are looking for. The styles change and it is important to know what is coming and what is now out of style. I work with a couple of investors as well, which I also give advice to as they buy and then prepare a home for sale. With those clients, we look to maximize their return for the dollars invested and making sure that the products they select are what today’s buyers are looking for. Not only flooring, but also current paint colors, kitchen and bathroom updates are critical.
You might also be interested in DFW Homeowners University. Check it out here!