"...you need to be aware of agents who set the list price on homes at unrealistically high levels simply to get listings..."
Why It Is So Important That Your Home Is Correctly Priced
and Marketed Properly
While many agents may promise to
sell your home for the money you want, the reality of the real estate market
today is that this simply doesn't always happen. The fact of the matter is, the
majority of homes sell for a price which falls short of what sellers may
have been lead to believe.There are two factors at play here.
On the one hand, you need to be beware of agents who set the list price on
homes at unrealistically high levels simply to get listings. This is really
unfair because it can set homeowners up for disappointment and failure.On the
other hand, you have homes that are priced correctly, but are marketed
ineffectively. Without a proper marketing program in place to ensure a home is
exposed to the highest number of qualified buyers, many home sellers feel
forced to accept a lower offer.There's nothing worse to a home seller than to
have their home sit unsold for many months because of improper pricing and/or
marketing techniques. Needless to say, either of these situations is highly
frustrating to any home seller. But more than that, it can be financially
crushing if you're counting on the full proceeds of the sale of your home to
fulfill some other obligation.To prevent this scenario when selling your home
here are some points to consider before choosing the agent you want to
represent you.
Deciding Upon an Agent
A good agent knows the market
and has information on past sales, current listings, a marketing plan, and will
provide their background and references. Evaluate each candidate carefully on
the basis of their experience and qualifications.Are they
pricing your home correctly?Home prices are determined by the
marketplace not by your emotional attachment or by what you feel your home is
worth. You should work closely with an agent who will suggest establishing
a realistic price for your home. They will help you to objectively compare
the price, features and condition of all similar homes in both your
neighborhood and other similar ones which have sold in recent months. It is
also important to be familiar with the terms of each potential sale. Terms are
often as important as price in today's market.Do they set themselves
apart from the others by offering innovative marketing plans to sell your home
fast and for top dollar?Will they set up an aggressive marketing
program to ensure your home is exposed to hundreds of qualified buyers? How
much money does this agent spend in advertising the homes s/he lists versus
other agents. In what media do they advertise, (newspaper, magazine, TV. etc.)
Do they use a 24 hour hotline, "For Sale" signs, lock boxes, a Tour
of Homes program, and Talking House signs and transmitters? What does this
agent know about the effectiveness of one medium over the other?Are
they accountable to you?In other words when they promise to sell your
home for the price you mutually agree upon, do they offer you a guarantee
(in writing) that you will get this amount of money for your home?
YOUR HOME SOLD FOR 100% FULL MARKET VALUE GUARANTEED
A new and innovative program that
some agents offer actually guarantees, in writing, that you will receive
100% of the mutually agreed upon price for your home before you list.
Here's How It Works!
When you list your home with an
agent offering the 100% Full Market Guarantee program here's what
happens:
- This agent will review the
Full Market Value Guarantee program with you and explain the
details.
- They will then ensure that an
aggressive marketing program is put in place to ensure your home is
exposed to hundreds of qualified buyers.
- They will also review what is
required on your part to have your home in "showcase" condition
in order to maximize the showing of your home to prospective buyers.
- No empty promises. These agents
put their money where their mouths are, they are accountable to you. The
guarantee is in writing. If your home sale does not net the
price that was promised, these agents will pay you the difference out
of their own pockets.
Full Market Value Guarantee Certificate
This is to certify that, upon the successful
sale of your property (your address here) by (name of agent) during the
contract period specified below, if this property is not sold for a minimum
price of (your agreed upon price here), (agent's name) will reduce
his/her commission to make up the difference between a lower sale
price and the price noted above up to a maximum of the agent's
portion of the commission due to (agent's name) as a result of this sale
subject to the terms conditions laid out in the agreement.
·
Such an agreement could
also include the following conditions:
·
seller agrees to list
property for (X) days with (agent's name)
·
the listed price is
set within 2% of a mutually agreed market value price determined on the
basis of market conditions and comparable homes
·
the property is made
available for showings during reasonable hours and maintained in
"showcase" condition during these times
·
the seller allows
(agent's name) to execute a full, approved marketing strategy
·
a successful sale of the
stated property must occur before expiration of the listing agreement
·
The
seller understands that this is not a representation to purchase the above
said property
At the bottom of the certificate there should be a place for you and your agent to date and sign the agreement.
-
My Home Tracker
- Save your favorite homes
- Get new property alerts
- Share with friends and family
-
Home Values
Find and compare local neighborhood home values