To make an informed decision, you need to have the real estate puzzle pieces. Market value, net proceeds, new payments and your financial qualifications are a few of the pieces. Start with a market analysis prepared by professional real estate executives, like us.
Think twice about purchasing a home that is not subject to the sale of your present home unless you have the financial ability to easily carry two mortgages. Consult a loan office and real estate attorney.
Real estate transactions are like finger prints. They are all different because there are so many variables – people personalities, market conditions, the economy, etc.
Only “sold” properties give an indication of market value. Active listings show the competition. Many active listings do not sell; they expire, are re-listed and reduced before a sale is consummated. How much time do you have to test the market?
Do not select an agent based on the evaluation of market price. Select an agent who offers the best marketing plan, offers the best in customer satisfaction and has a proven tract record. Customer satisfaction is more important than an agent’s financial success.
No agent can guarantee to sell your home. An agent can only guarantee to do the things that expose your property to the greatest amount of prospects which will encourage the most amount of offers with the most favorable terms.
“How much commission do you charge?” Let us put it this way:
• Don’t fly in an airplane built by the lowest bidder.
• You can’t expect Nordstrom service when you pay K-Mart prices.
• Cut rate commission is a red flag for potential difficulty.
• Realtors are self-employed and their income is based solely on commissions paid after a successful real estate transaction closes.
There is no amount of marketing that can overcome an overpriced property. Pricing is critical. Any negative feature can be overcome with proper pricing.
The biggest misconception sellers have is if their home sells quickly, the home was underpriced. Buyers are first shown all available inventory. Then the new listings are reviewed daily for the prospect. When a new listing “hits” the market, an agent quickly calls the prospect for a showing appointment. Thus, there is a greater chance of a property selling within the first several weeks than at any other time during the marketing period. But the key is that the home must be properly priced because the best buyers have seen the market and are aware of fair market value. If a property remains unsold, the market is trying to tell us something…the price is too high.
The longer a home remains on the market, it gets “market worn” and sells for less.
Open Houses for the general public create buyer clients for the agent first and exposes your home to a ready, willing and able buyer second.
Anything you say can and will be used against you. Watch what you say to the agents and prospects that look at your home. It is best if you are not present during the showings. However, if you are home, do not answer questions that make you feel uncomfortable. Respond, “Our agent advised us that you should ask them those questions.”
The first offer usually is the best offer. Generally a seller is gambling, thinking another offer is just around the corner.
Every prospect that looks at your home is not ready, willing and able to purchase your home. They may be in the initial stages of making a decision to move and are “just looking” plus may have a home of their own to sell before they can buy another. We will follow up with the showing agent to get customer feed back.
There are three options when an offer is presented: accept the offer, reject the offer, or counter the terms that are not acceptable. Counter offer is the most common and it’s not always the price. The longer the negotiating process takes, the less likely the transaction will be consummated. Always try to respond as quickly as possible.
- NUMBER1EXPERT™ 
