The biggest mistake I see home sellers make is when they choose a Real Estate Agent based on a big lie. That lie is when the Real Estate Agent who says they can get the most money for the house. Agents will sometimes use this trick to make you believe they can get you the highest price, but most of the time you will get the same amount of money out of the house as the next Real Estate Agent would.
In fact, if the Real Estate Agent you hire based on the high price they want to offer your home, you could actually be shooting yourself in the foot. The first two weeks on the market create first impressions, and if those impressions, when you have the highest influx of showings, are that your price is too high, you will likely lose a chance for an offer. You will move into a slower season of showings and will need to drop your price to what is more fair and may end up having your home on the market longer.
How much money you get for your house has to do with a lot of different factors, including:
Location is important in regards to schools, major activities and workplace for the future buyer. They will also be looking at resale ability, therefore homes that rank higher in these areas will likely sell for higher than those who don’t.
The square footage is handled by a Real Estate Agent can vary. I look at the above grade square footage, that is the actual area of finished, livable square footage. When the unfinished area, such as an unfinished basement is included in the square footage estimate, you may be looking at a home smaller than what is a practical or desired living space.
Condition of Home
I am not suggesting a full rehabilitation of your home before it goes on the market, but things like smells, dirty carpet and broken fixtures can cost much more than a simple cleaning and replacement would.
Selling prices of other homes in the area
Known as “comps”, the selling price of other homes in the area play a large part in the proper pricing of your home. The Real Estate Agent should likely price your home within 10% of the area comps. If they price higher than that, the home can be seen as overpriced, or marketing must be done to justify and highlight the reason for the higher price.
My role as your Real Estate Agent
I will use my years of market experience to properly price your home, leaving some room for negotiation by both parties. We want to offer a fair price that will create a win-win for both you and the home buyer to create a quick sale.
We will look at location and I will make suggestions for improving the home value so you can get the most from your sale. Consider what you think the buyer would want, and based on how the market is trending, we can get great photos of those things we believe the buyer values. You won’t be able to please everyone, but I have tricks that will help drive up value.
The Bottom Line
The Real Estate Agent who promises the highest price isn’t the best agent to work with, if that is their only solution for getting you the most money for your home. The Real Estate Agent who has a tried and true, solid marketing strategy, is the best choice.
Ask for references of people he or she has worked with in the past and ask how long their home was on the market, how the offer price was, how the Real Estate Agent marketed their home, and if they would work with the agent again. The answers to these questions will get you the Real Estate Agent that will have the most success in selling your home and getting you the most from your investment.