How to choose the right agent

The real estate market has softened in just the last few months, and in some areas this means a more challenging market for sellers.  There are some things you can do to increase your chances of a profitable sale by avoiding expensive mistakes.

Knowing the territory

First, listing your home with an agent that doesn't know your area can cost you plenty.  Market conditions can vary significantly from one area- even from one neighborhood to the next, and they can change quickly. When they do, local agents are the first to know.

Many agents will offer to cut their commission, or agree to list the house high above the home's real market value just to get the listing.  Don't be fooled.  This is a horrible disservice to a home seller. 

The Worst Mistake

I've found that the WORST mistake a seller can make is listing at a price that's based on what the seller wants rather than on what the house is worth in the current market. The price a buyer will pay for your home is based solely on its current market value.   Any real estate agent with any talent won't even show a home that's priced over market value.  The seller's unrealistic hopes have absolutely no bearing on the true market value of the home.. 

A reputable agent will turn down the listing, rather than have the house go unsold for months and months, and realtor after realtor, due to unrealistic expectations of the seller.

It's often difficult for sellers to divorce themselves emotionally from their homes. It helps to work with a knowledgeable real estate professional that can advise you on current market conditions and on the value of your home.

The First Six Weeks

Another costly mistake is failing to quickly reduce the price of an overpriced listing. Your home is most marketable when it's new on the market.  That's when buyers and their agents will be most enthusiastic about your listing. If you leave a listing on the market too long at a price that's too high, enthusiasm for the property wanes. It's nearly impossible to rekindle that enthusiasm later.

Accurate pricing can be more difficult in a changing market, particularly in an area where no two homes are alike. You may decide on an asking  price and discover a few weeks later when your home hasn't had any showings, or that there are other new listings on the market that are priced more favorably than yours. When there's a lot of inventory, it's wise to pick a list price that undercuts your competition.  A reputable agent will arrange for you to tour the homes of your competition, so you'll know what you're up against.

We welcome an opportunity to just discuss your plans to sell, offer you FREE assistance if you want to try to sell your home yourself, or provide a FREE market value analysis of your home.  Simply call or email us.  We're  happy to help, and will probably save you some money in the process..