Hiring the right Realtor
On the surface, it may seem there are lots of Realtors to choose
from. But just because there are lots of Realtors out there
doesn't mean they can all do the same job for you. The right
realtor will keep you from making some common mistakes when
selling your home. Mistake #1: Pricing Your Home Incorrectly
Every seller wants to realize as much money as possible when
selling their home. The natural inclination is to price the home
high, thinking you can always come down in the future. But a
listing price that is too high frequently nets the seller LESS
money than an original price at market value. Why is this?
Because people looking for homes in your price range will reject
your home in favor of other homes in a reasonable price range.
And here's the real clincher: Agents who would readily bring
buyers through your home will automatically cross it off their
showing schedule because it's priced too high. They're only
motivated to show homes with the highest probability of selling.
Agents simply will NOT show overpriced homes because they work
by commission. They know market values because it's their job to
know. And they don't want to waste their time. So you price your
home high, thinking you can come down. Problem is, the agent and
buyer community doesn't look at it that way. They see it as an
overpriced home. After a few months go by, 8 or 10 open houses,
signs, Realtor tours...and not a nibble. So you decide to lower
your price again. But it's too late...your home has already been
"branded" by the Realtor community. So you reduce your home a
little more. And little happens. Finally, in order to attract
attention back to your home, you've reduced your home price more
than you ever thought you would, and you're now netting much
less than if you had priced it correctly in the beginning. And
think about this: the money you lost is not just the lower sales
price, but all the extra interest you paid on your
mortgage...all the extra property taxes and other carrying costs
that accrue while your home is waiting to sell. I've seen it
happen time and again! Real Estate Fact: The Seller Is Solely
Responsible For How Much, And How Quickly Their Home Sells!
Overpricing almost always increases time to sell, and adds to
your carrying costs. Here are a few areas that a professional
Realtor can help you with: