In this market I’m constantly amazed that sellers often give the listing to the agent who offers most money for their home, regardless of market reality and Realtor’s plan on how they will go about selling the home. There are two major components in getting a home sold.
One is marketing and all of its components. This is very important and surprisingly ranges from Realtor to Realtor. (I will address marketing in a different post).
The second aspect is price. If a Realtor comes into a listing appointment without a list of comparable properties that have sold recently – run! While sometimes hard, sellers must realize the reality of prices. Markets do change and in some cases prices have declined. If you are serious about selling your house you must understand where the local market is and price accordingly. According to the National Association of Realtors, homes that are overpriced just 10% may see a drop of more than 50% in showings.
Work with a Realtor who provides you with a realistic price for your house and an aggressive marketing plan, not the one who says they can sell it for the most dollar. Look at their track record, how many homes have they listed and sold and how many of their listings expire; if their listings expired asked them why.
If you are hiring a listing agent based solely on what price they promised you for your home, you are doing yourself a great disservice and it will end up costing you as the property will sit on the market until the price is reduced to compete with similar homes in the area.
Be successful in the sale of your home. Ask questions! And make sure your Realtor has the answers!
