|
|
|
Hiring The Right Realtor
n the surface, it may seem Agents who would readily bring
there are lots of Realtors buyers through your home will
to choose from. But just automatically cross it off their
because there are lots of showing schedule because it's
Realtors out there doesn't mean priced too high. They're only
they can all do the same job for motivated to show homes with the
you. The right realtor will keep highest probability of selling.
you from making some common Agents simply will NOT show
mistakes when selling your home. overpriced homes because they
work by commission. They know
Mistake #1: Pricing Your Home market values because it's their
Incorrectly job to know. And they don't want
to waste their time.
Every seller wants to realize as
much money as possible when So you price your home high,
selling their home. The natural thinking you can come down.
inclination is to price the home Problem is, the agent and buyer
high, thinking you can always community doesn't look at it that
come down in the future. way. They see it as an overpriced
home. After a few months go by, 8
But a listing price that is too or 10 open houses, signs, Realtor
high frequently nets the seller tours...and not a nibble. So you
LESS money than an original price decide to lower your price again.
at market value. Why is this? But it's too late...your home has
Because people looking for homes already been "branded" by the
in your price range will reject Realtor community. So you reduce
your home in favor of other homes your home a little more. And
in a reasonable price range. little happens.
And here's the real clincher: Finally, in order to attract
attention back to your home, Ø How do you really define and
you've reduced your home price compare market value between
more than you ever thought you homes?
would, and you're now netting Ø How the principle of
much less than if you had priced "substitution" affects the value
it correctly in the beginning. of your home...
And think about this: the money Ø How to protect yourself from
you lost is not just the lower crime when selling your home...
sales price, but all the extra Ø How to handle buyers during a
interest you paid on your showing to help yield the highest
mortgage...all the extra property price.
taxes and other carrying costs
that accrue while your home is Once you understand these
waiting to sell. I've seen it important issues, you'll know how
happen time and again! to price and sell your home for
the fastest, most profitable
Real Estate Fact: The Seller Is sale. Also, with this
Solely Responsible For How Much, information, you'll never pay too
And How Quickly Their Home Sells! much for any home you buy for the
Overpricing almost always rest of your life.
increases time to sell, and adds
to your carrying costs. Mistake #2: Limiting The
Marketing Exposure Of Your
Here are a few areas that a Property
professional Realtor can help you
with: The most obvious marketing tools
everyone uses (Open Houses and
Ø How to set the asking price to classified ads) are only
maximize exposure and a moderately effective.
profitable sale... Successfully marketing of your
home (getting the highest price, purpose than selling your home.
at the right time, and with no Usually an appraisal is to
hassles and problems) requires provide a bank or mortgage
much more. institution information to fund a
loan. If a lender is motivated to
Surprisingly, less than 1 percent loan you money, his appraisal may
of homes are sold at an open come in higher than the true
house. Agents use open houses to market value of your property.
attract buying prospects, not to The appraiser might ignore other
sell your home. And advertising issues in his analysis, such as
studies show that less than 3 foreclosures in the market or
percent of people purchased their distressed sales. When a buyer
home because they saw it in an looks at a home, they look at all
ad. That's why the most competent the factors: foreclosures,
Realtor will have a broad distressed sales, bankruptcies,
spectrum of marketing activities, divorces, and area fluctuations.
emphasizing the specific Don't make the mistake of
strategies that will work best thinking the "appraisal" value of
for YOUR particular property or your home is what a diligent
area. This way, your home is buyer would pay.
NEVER put "On Hold" or a showing
is delayed for a single minute Mistake #4: Not Understanding
when a hot inquiry surfaces. Your Rights & Obligations
Mistake #3: Thinking Your Real estate law and regulations
Appraisal Is The Market Value Of can be very complex. When you
Your Home sign a contract for the sale of
your property, it's a legally
An appraisal is an opinion of binding document. An improperly
value for an entirely different written contract can create many
problems for you: a sale could Agreement With NO WAY OUT!
fall through, cost you thousands
in forced repairs, inspections, Just about every agent has good
and remedies for items included intentions about helping you sell
or excluded in the purchase your home. But situations and
offer. circumstances change. The agent
might have personal problems, or
You must understand what repairs simply decide to retire or get
and closing costs you are out of the real estate business.
responsible for in a contract. Or other situations may arise
And you must know whether the where the agent isn't doing his
property can legally be sold "as or her job as you expected. The
is," or how deed restrictions or home may not be getting the
local zoning will affect your exposure you desire. Or perhaps
transaction. you haven't heard from your agent
in 6 weeks! What do you do now?
You also need competent review of When this happens, you should
your title, and whether or not have the right to fire your
your property is in conflict with agent. But the listing agreement
local restrictions or laws. If you signed is with the BROKER,
you have to remedy these items not the agent. If you're unhappy,
yourself, you can spend thousands the broker may assign your home
on legal bills, fines, to another agent - someone you
contractors, and other costs. neither personally selected, nor
Using a competent Realtor up do you want. But you're stuck
front can help identify and avoid with him or her until the listing
these issues before they become agreement expires. And that can
"problems." cost you a lot of money. Always
protect yourself by 1) carefully
Mistake #5: Signing A Listing selecting the right Realtor, and
2) make certain that in a "worst problems and hassles or a
case" situation, you have the problem-free transaction. Most
flexibility to cancel your communities are loaded with
listing agreement. Realtors who are WRONG for you,
your area, and your home. Some
Mistake #6: Selecting The WRONG agents are in business part time
Realtor for a little extra cash. Others
are subsidizing other businesses
Do you remember the old riddle or careers. And then there's your
that goes, "What do you call the "cousin Harry," whom you feel
person who graduated dead-last in obligated to because he "really
their medical school class?" needs your business." Selling
Answer: "DOCTOR!" your home is probably the most
important financial transaction
Well, it's the same with you will ever make. Your Realtor
Realtors. Someone with vast should take their business very
experience and extraordinary seriously.
professionalism usually costs the
same as someone with little or no Here's what your realtor should
experience, or with compromising offer to market your home:
standards. You need to know how
to tell the difference up front. Ø A full-time marketing
Bringing competence and specialist, a full time
experience into your transaction asisstant, a cellular phones, a
may mean the difference between a laptop computer, 32 phone lines,
higher negotiated sales price and and and you should never wait
losing money, selling in less more than a few hours for a
time or in more time (costing you return call. This is the
potentially thousands in added difference between agents who
interest), and experiencing simply "sell" real estate, and
those who COMMIT to whatever it tracking systems for every home
takes to serve a client beyond they sell. They should also have
their expectations! specific update systems so you
are fully aware of ALL activity
Ø A Realtor who has been in the and progress updates on your home
business for at least 5 years, on a weekly basis. So you will
and sold at least $35 million of NEVER feel out of touch!
homes. They should be intimately
familiar with the ? They should guarantee
neighborhood/area, and specialize everything they do!
in selling homes in your price
range. ? They should have references for
reliable title companies, escrow
Ø They should be a full-time companies, financing sources many
Realtor, well educated and have a agents are clueless about,
complete resume for your review, insurance companies, inspectors,
and make it a priority to educate attorneys, and others directly
YOU on every aspect of your relating to your transaction. If
transaction. you choose to use any of them,
you won't be dealing with
Ø They should have a list of arbitrary people. These should be
references, past clients, and professionals they have used
professional associations whom personally in other transactions.
you can call at any time to
discuss the quality of service
they have provided to other Ø They should schedule showings
people just like YOU. around your schedule, and to
respect your personal and family
Ø They should have a time. This requires special
specifically designed marketing planning and forethought most
agents do not consider. and acquaintances.
Ø Most Importantly: They should Ø When selling your home, the
generate at least 50% of their LAST thing you need is added
clients through referrals. They pressure. That's why you need a
should focus 110% of their realtor to answer all of your
efforts into providing such questions. And give you one less
outstanding service that their thing to worry about during these
clients are inclined to refer hectic times.
your services to family, friends
About the Author:
Christine began her Real Estate career proving herself to be a top producer on a new high rise development. This experience gave her valuable knowledge of construction as well as the buying process and resulted in 4-million dollars in sales her first year. http://www.realestate.pn
Source: www.isnare.com
|
|
