If you ask most people about the ins-and-outs of selling a home, chances are you’ll get a few diverse opinions. People who may have bought or sold only once love to give advice, this often does nothing but generate myths about the process.
Let’s take a look at some of the most common myths when it comes to selling a home:
Myth #1: The longer a home is on the market, the higher chance it will sell.
This is simply not true. In fact, the truth is just the opposite. The longer a home lingers on the market, the more likely it is to raise a red flag in the minds of potential buyers.
They tend to ask, “Why isn’t it selling? Is there a hidden flaw in it? Is it overpriced?”
The fix for a lingering listing is systematic price reductions. If potential buyers can see that the seller has been steadily dropping the price, then they will assume that the house was overpriced when it was first listed. This explains the long market time.
Also, they will come to the conclusion that since the price has steadily decreased, the seller is reasonable and is truly interested in selling their home at market value.
Myth #2: Condition and amenities matter more than price.
Surprisingly enough, this is also a common misconception. When it comes to selling, the right price is truly essential.
This does not mean that conditions and amenities are irrelevant, though. They can make the difference between one buyer loving or hating your house; however, price is a much more important factor for most buyers and is what gets the buyer’s attention.
Myth #3: Any real estate agent will do as long as they list the home on the MLS (Multiple Listing Service.)
This could not be further from the truth. While the MLS is a powerful tool and gets your home in front of a large number of people, simply being the on the MLS doesn’t get your home sold in today’s market.
Choosing the right real estate agent is an important decision. You want one with:
· A track record of successfully marketing and selling homes
· Strong negotiation skills
· Knowledge of, and connections in, the community
These three factors make all the difference in determining pricing, generating buzz for your home, and getting an offer on the table. A good real estate agent can actually create opportunities for you by encouraging a buyer’s agent to write an offer. The MLS can’t do this by itself. And a good agent is looking out for your best interest.
Getting an offer is only the beginning. Keeping a transaction together takes, skill, knowledge and a cool head when problems arise.
With these myths in mind, stay clear of hearsay and advice from non-experts. Stick with the person who knows best what sells a home: your local real estate agent.
That’s me! I am well connected in the community and can sell your home fast. Just give me a call at (206) 718-5863 or email me at firstname.lastname@example.org. Let’s get the ball rolling today.
During the calamities and frustrations that have pummeled the real estate industry lately, there is one group that held its head up high by proving its value to consumers – real estate agents.
People are finally figuring out that real estate agents are not just salespeople. They are service providers and problem-solvers who implement specific tactics when it comes to buying or selling your home.
Knowledge is the real estate agent’s stock in trade. Living and breathing market trends and conditions every day creates expertise that the average person doesn’t possess.
Agents know what makes a home sell – and they know how to get you the best price for your purchase. This is why they are worth their weight in gold.
Not to mention the access an agent provides to you in terms of the MLS – Multiple Listing Service. This tool is the industry pipeline that connects you with buyers and sellers as well as the informational websites that allow consumers to have the latest real estate information at their fingertips.
But, of course, not all real estate agents are created equal. Before selection one, make sure you ask the right questions. Here are a few suggestions:
“How long have you been in the real estate business?”
Experience counts for a lot. Make sure your agent has a strong track record.
“What is your business philosophy?”
If an agent doesn’t have one, find one who does. You want someone who is going to go the extra mile for you and who clearly articulates how they will do just that.
“How will you stay in touch with me during the process?”
Your agent should keep you informed and on track at the pace you are comfortable with. Get this information upfront so that you’re not left wondering what’s going on.
As we move ahead, the advice of a good real estate agent will become even more valuable. Your local Realtor is our lifeline to guide you through the morass of numbers and statistics about your neighborhood. Find a good one, treat them well, and their expertise will reward you.
For more information the value of a great real estate agent, please call me at
(206) 718-5863 or send me an email to email@example.com.
1. The only way to win is to negotiate.
You’d probably like to avoid negotiation and just have your first offer accepted. However, the reality of buying and selling real estate is that there will be some negotiation along the way.
Many buyers believe they can make a lowball offer, beat the seller at the game, and then just walk away. All this does is set up a backfire situation. The seller is usually so insulted by your offer that he or she won’t even consider a second offer.
The solution to this problem is what I can “Win/Win Negotiating.” This is a style of negotiation that ensures all parties benefit from the transaction. This means that before writing the offer, you put yourself squarely in the shoes of the seller. Ask yourself this question:
“If you were selling, what offer would make you really happy?”
For example, pretend you have a home on the market listed at $850,000. You would be happy if somebody paid you exactly what you’re asking, but that probably will not happen.
Ask yourself what offer you would be willing to accept. Then, ask yourself what offer you would be willing to think about. Finally, ask yourself what offer would make you downright mad. Put yourself in the position of the seller.
And never say, “That’s my final offer.” All that does infuriate the other party and close all doors of communication.
2. Think about the conditions and terms on which you might be willing to compromise.
Never sit down to write an offer while being inflexible. Be a palm tree, not an oak tree. Sway in the wind a little.
On what parts of this contract could you be flexible? If it’s not price, maybe it’s something else. Perhaps the closing date is negotiable. Perhaps some of the included items are negotiable. Be open-minded if you ever expect to win in a negotiation.
3. Keep emotion out of the negotiation.
If there’s one truth to human decision-making, it’s that emotion plays a key role. To win, you need to keep it in check. Always be willing to walk away from a deal if you find your emotions are getting the best of you.
When you keep these simple rules in mind, your offer has a much higher likelihood of being accepted.
For more information on how to make an offer that’s accepted, please call me at (206) 718-5863 or send me an email to firstname.lastname@example.org.