The Mortgage Buddy would like to welcome back top real estate agent and best selling author John Miller of Keller Williams in Westboro, MA to the Guest Blogger spot. This article is the conclusion to Miller’s Real Estate Secrets to sell your home for more money featured previously on Mass Mortgage Buddy. What are the remaining secrets?
Before revealing the secrets to sell your Massachusetts home for 4.5% more money, it’s important to know why utilizing a real estate agent is a sound financial decision for you and your family. Trying to sell your home may sound like the way to go at first thought. You can save on a commission and you are in direct control of scheduling your homes availability for showings. But there is much more to being a successful real estate professional in MA then opening doors and scheduling showings. A real estate professional sells property full time, has negotiating experience, and most importantly has a greater access to qualified buyers. You wouldn’t go to the dentist for a hair cut, so if you are an accountant by trade why would you try to sell a home?
Here are the remaining 4 of the 7 Secrets to not lose thousands when selling your home.
Secret #4 Don’t hire an agent that…
Suggests you price your home higher than fair market value, or leaves the price up to you the home owner. It’s human nature that we are happy to listen to what we want people to tell us. But that doesn’t mean that listing your home for more than it’s worth is going to mean it will sell for more than if it was priced appropriately. There is nothing more prevalent in causing Massachusetts homeowners to lose money than pricing their home too high and wasting valuable marketing time because the agent promised a high price just to get you to sign an agreement with them. Time is money and in a hot market like we are currently experiencing you want to be able to drive the foot traffic to your listing.
Secret #5 Don’t hire an agent that has…
No or few other homes to sell - also known as listings. When an agent has numerous listings it means that they are creating a stream of qualified buyers to their properties. Having access to qualified buyers means there is a better chance to find someone that is interested in your home. If your agent only has 1 listing, they can’t generate the same type of buzz as top listing agent with a portfolio of success.
Secret #6 Don’t hire an agent that has…
No Accountability - For years many agents and real estate companies have signed their clients to 6 or even 12 month contracts. As with every initial business relationship it’s highlighted with enthusiasm and determination. But what happens when the weather changes or the phone stops ringing because your home was listed over market value? Do you stay with your agent just because? This is your home and you are the boss. Look to that aggressive agent with a shorter contract period. This helps both of you keep the accountability in the present and hold your agent to a hire standard.
Secret #7 Don’t hire an agent that…
Accompanies Showings - Most buyers who look at your home will have their own agent and will not be calling your agent direct to see the house. It is likely that your agents marketing efforts will attract a buyer to your house and then that buyer calls their very own “buyer agent” an agent who represents the buyers interest in regard to price and terms. Truth is, agents do not sell homes, homes sell themselves. A good listing agent will merchandise your home and negotiate the best price and terms on your behalf. Purchasing a home is an emotional decision and the buyer doesn’t need your listing agent walking them around.
DO Hire an Agent Based on Track Record- The biggest mistake home owners make is hiring an agent because they know the person, or the agent gave them a “great deal” on the commission, or the agent promised them more money for the house. All these scenarios end up in utter failure and you the homeowner run the risk of having your house on the market for a much longer intended time, losing you thousands of dollars. Hire slow, hire the right person for the right reasons. An expert will always make you more money than they charge.
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