The Motley Fool Discussion Boards
Personal Finances / Buying or Selling a Home
|Subject: Re: Five day home sale||Date: 5/28/2013 3:45 PM|
|Author: inparadise||Number: 125407 of 127472|
But not all agents are pros. They're just not that invested in learning how to do it right. They don't want to put in the time effort. Also, many (most?) homeowners won't listen to their agents and do what they really need to do for a fast sale. They won't de-clutter. They won't de-personalize. They won't do the cosmetic upgrades that draw in a buyer.
It is better for an agent to get your listing than not, and some agents feel the way to do this is to over inflate your initial sales price, followed by price reduction after price reduction. If you pay attention to the purchase and sales in your market, you can easily detect who these people are. A critical question to ask an agent you are interviewing to list your property is what is the breakdown of initial list price to sales price in the past two years of their sales. Even a very prolific seller won't have an enormous number of sales to provide you with.
You want an agent that will tell you the hard truths, and shows you data to back it up. Don't automatically accept a low ball price for a quick sale either, unless the consequences of your not selling are crippling. There is also a section of agents who only want cheap listings that will sell very quickly.
Use an agent to get you the data you need to set a price, and interview multiple agents to get multiple data sets. Ask agents why a specific listing did not show in their comps, or conversely did show while it did not in other agent's comps.
You can't just hand your property over to an agent and tell them to sell it. Do your own due diligence. Some of the most respected agents in our area, who have been around the longest, have done so by making sellers drool over high, high prices and working the seller's listing price down over time. Just having multiple signs out in yards is a huge advantage to them. You must understand how a price is set so that you can weed out the agents who care more about furthering their own career than getting you the best price possible.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|