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Choosing the Right Realtor
Selling your home requires a thorough knowledge of the local real
estate market, the market trends, market values and extensive product knowledge. In addition, the job of selling
your home requires knowledge of sales techniques and possession of negotiating skills and "people skills",
among other things. One also needs to be available to show the home at a time that is convenient for the Buyer.
There are two ways of selling your home.
The first possibility is to try and sell it as a "for sale by owner'. This is difficult because most buyers,
possibly about 95%, will shop for a home with a licensed real estate agent. Why should a buyer take on the job
themselves when they know that the seller usually pays the real estate commission anyway?
The only reason that a seller would want to do all of the work that comes with selling a house is to avoid paying
the commission. The likelihood of this happening, however, is fairly remote. This is because many of the potential
buyers of "for sale by owner" properties are experienced real estate investors. They target the do-it-yourself
seller as someone who may not be aware of the true value of their home and is not as likely to be an experienced
negotiator. They are well aware of the fact that the seller of a "for sale by owner" home is avoiding
the commission, so they will begin their negotiating by deducting what you would have paid a realtor from what
they feel is a fair price. If you end up with the same amount in your pocket either way, doesn't it make sense
to use a realtor to market your property and save yourself all the hassle?
Here are some great tips you can use when selling your home:
1) Choose the right realtor. One common mistake is to give
the listing to the "highest bidder", i.e., the realtor that quotes you the highest suggested selling
price gets the job. Overpricing your home can be very harmful. A potential buyer will either not look at your house
because it is out of their price range, or they will buy a newer or larger home listed at the same price as yours.
2) Be sure that your realtor markets your property effectively. Only a very small fraction of homes are
sold through newspaper advertising alone. Your realtor should offer a wide variety of marketing tools for selling
your home, such as signage, internet and newspaper ads, networking with other realtors, open houses, etc.
3) It's a great idea to prepare your house and property for showing by making the place look nicer, but
you must be careful not to waste money on improvements that won't be worth the cost. Ask your realtor which improvements
will be most helpful and cost effective to make your home more marketable.
4) Prepare for the showing of your home to prospective purchasers by making sure that your home is clean
and presentable, and has a good "home-like" atmosphere. Your realtor can give you some great tips on
preparing your home for a showing.
5) When your home is being shown, don't get in the way. A realtor has a lot of experience in how to present
a home most effectively to potential purchasers. Any "helpful" comments made by you in front of the potential
purchaser will probably not have the desired affect.
6) When an offer is made, have the contract fully explained to you. Never sign a legal contract without
understanding its' content!
7) Once your home is sold, your realtor can help you find your next home, or, if you are moving out of the
area, your realtor can help you find a top-notch professional in your new area.
In summary, a professional realtor can help you to get the most for your home, and assist you throughout the process.
If you would like assistance selling your home or even if you just have some more questions, please contact Mike Kent now!
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