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6 TRUTHS every SELLER needs to KNOW when SELLING!
Truth #1: Buyers buy after “shopping around”. In their search for the best buy they are comparing your property to the others currently on the market.
Truth #2: Sellers control the pricing and saleability of their homes but buyers control VALUE. A property is worth what the market (buyers) will pay.
Truth #3: If a property sits on the market for more than a few weeks it gets shop worn (stale... like an old donut). Price it right in the beginning while it is fresh and buyer interest is at its peak.
Truth #4: Most properties must be sold three (3) times...
- First...to the real estate agents who have the buyers. If they don’t see it as a decent value, they may not show it.
- Second... to the buyers. If they don’t see it as an attractive offering, they’ll look elsewhere.
- Third... to the lender who will make the loan and the lender’s appraiser. If this group does not see the value... no loan.
Truth #5: What it means if...
- No showings: Agents don’t see your offering as worthy of showing to their buyers. Or, buyers themselves aren’t interested enough to look.
- No Offers: Buyers don’t see enough value to even negotiate or try to buy.
Truth #6: Overpriced properties actually help well-priced properties sell.
8 Critical Issues To Consider When Negotiating The Sale Of Your Home
1.Is the buyer qualified...ready, willing and able?
2. How long has your property been on the market?
3. Given the market conditions, how attractive is the offer?
4. Does their offer “as is” allow you to meet your original set of goals and timetable?
5. Where, if anywhere, are you able to compromise?
6. If you counter their offer, you’ve bought the property back on those same terms and conditions. Are you willing to risk the buyer “walking”?
7. Make a list of the strengths and weaknesses of the offer.
8. Considering the terms and conditions of the offer, is this offer in your best interests both emotionally and financially?
12 "Don’ts" Every Home Seller Should Know...
1. Don’t overprice your home. It will cost YOU money!
2. Don’t be surprised if the first offer on your property is the best offer you receive.
3. Don’t let your property sit on the market too long before making a significant change in price (or it will get stale). See "Updated X-Rays Concerning The Value Of Your Home".
4. Don’t think all real estate agents and companies are created equal...they are NOT. Find an agent/company with a great track record and proven home marketing system.
5. Don’t list with a real estate agent just because they charge the least or the most. Look for the best VALUE. Consider the company’s track record with sellers & buyers.
6. Don’t look just at the price the buyer offers. Analyze the total package including buyer qualifications, contingencies, closing dates, etc.
7. Don’t forget buyers will shop around looking for the best buy. You are in competition with other sellers for your buyer’s attention.
8. Don’t forget that if real estate agents don’t see your property as a good value, they will take their buyers elsewhere.
9. Don’t skimp on marketing you need a COMPREHENSIVE marketing plan tailored to your property and your needs.
10.Don’t make it difficult for agents and buyers to see your home. Buyers want to look at their convenience.
11. Don’t overlook the value of MERCHANDISING your home... make it look its VERY BEST!
12.Don’t forget that you control the pricing of your home, how it looks and the overall marketing plan. But it is the BUYERS who control value. If buyers won’t pay your price, the house remains yours.