So, you’re planning on listing you home with an agent and you want to get top dollar for your home. Of course you do! Simple logic says that the more marketing/advertising your agent does, the more you’ll get for your home, right?? Perhaps not…
Decades ago, advertising a home was important to attract a buyer because there was no other way for an individual real estate office to announce to the world that a house was now on the market.
But times have changed. With the development of the Multiple Listing Systems (MLS), as soon as a listing is taken the entire agent population of that area or region is informed. Instantly!
Every agent working every buyer is put on notice that a new opportunity to sell a home is here. In many cases, through new technologies, the buyers are directly informed of the new listing before the agent can even reach out to them. Buyers already in the market will know the home is up for sale immediately. No ad is required to do this.
So, if everyone knows your home is for sale, why hasn’t someone bought it?
We would argue that it is probably not because they are unaware of the listing.
In 99% of the cases, it is about pricing.
They know of it and, for some reason, have decided it is not worth seeing. The value was not there for them.
The Hard Truth about Price
You may think there are just no buyers in the market for your type of home at the present time. Well, let’s take a step back and ask a question. Would someone buy it at $1? How about $100? $1,000? $10,000? $100,000? Of course!! But, that proves our point. There is a price that buyers will pay for each and every home that is for sale today. The difficult truth sometimes is that the market (the current pool of buyers) will determine what they think your home is worth and that’s what they will offer. Your job as seller is to decide what you’re willing to accept and hope for the best. Depending on the market conditions, you either let buyers compete like piranhas in a tank or hope that the right buyer falls in love with your home (like you did) and offers a price that you can accept.
Does that mean that you don’t need an agent to sell your home?
Actually, we are saying the exact opposite. You need a well-informed real estate professional who knows the proper price for your house and has the courage to tell you the truth. It was great to see that a recent survey by the National Association of Realtors revealed that the number one benefit a seller wants from their agent is assistance in setting a competitive price.
That truly one of the most important things an agent can deliver to a seller in this market.
Bottom Line
Get a great agent. Price your home appropriately. And don’t believe that running more ads will create a group of buyers that don’t understand value.
Need a referral to an amazing agent, just call us! We work with the best. 888-333-0075.
