The Things Listing Agents Need to Start Telling Their Sellers – Our Job is to Tell People Things They Don’t Want to Hear
In the real estate market, the role of a listing agent is pivotal in guiding sellers to make informed decisions that can significantly affect the sale of their property. Here, we delve into the crucial advice that listing agents need to start imparting to their sellers to facilitate a smooth and successful transaction.
1. Never Ever for Any Reason Push Closing Back
Pushing the closing date back can have detrimental effects on the sale process. Here are five reasons why it should be avoided:
- Buyer Financing Issues: Delaying the closing date can potentially affect the buyer’s mortgage approval, which is often time-sensitive.
- Increased Holding Costs: The longer you hold onto the property, the more you incur in terms of mortgage payments, utilities, and maintenance costs.
- Market Fluctuations: The real estate market is dynamic. A delay can mean selling in a less favorable market condition.
- Legal Repercussions: Buyers can seek legal remedies for delays, which can be costly and time-consuming.
- Lost Opportunities: Buyers might walk away from the deal, seeking other available opportunities, thus forcing you to start the selling process anew.
2. Your DIY Project Did Not Add as Much Value to Your Home as You Think It Did
While DIY projects can add a personal touch to your home, they may not necessarily increase its market value substantially. It is essential to have a realistic understanding of the value added to ensure a fair listing price.
3. The Only Thing That Determines Your Market Value is the Market (Meaning Buyers)
Market value is determined by what a buyer is willing to pay for your home in the current market conditions. It is vital to price your home based on market analysis and not personal attachment or perceived value.
4. It Isn’t a Personal Dig When a Buyer Has Inspection Objections. Do Not Take It Personally
Inspection objections are a standard part of the buying process. Buyers are looking to make a significant investment and have every right to know the exact condition of the property. It is not a personal attack but a necessary step to foster transparency and trust in the transaction.
5. Your Neighbor’s Listing is Your Competition. Price Accordingly If You Want to Sell Before Them
In the real estate market, neighboring listings are your direct competition. To sell your property before them, it is prudent to price your home competitively, taking into consideration the features and conditions of other listings in your vicinity.
6. Buyers Are Not the Enemy. You Need Them. Do Not Chase Them Away
Maintaining a positive relationship with potential buyers is crucial. Being open to negotiations and showing a willingness to work with buyers can foster a more harmonious transaction process. Remember, without buyers, selling your home would be impossible.
7. Declutter More
A clutter-free home not only looks more appealing but also allows buyers to visualize themselves in the space more easily. Encourage sellers to declutter extensively, creating a clean and spacious environment that is ready for showcasing to potential buyers.
8. Always Respond to an Offer
Never just say “No”. Even if it is a lowball offer. If you are insulted (which you should never be. See above) you should counter. One time on one of my personal properties I got a lowball offer and countered with over list price lol. Of course, the deal never came together but they did counter 2 more times. You never know. To just ignore an offer on the table is not a good idea.
9. An Open House Isn’t Designed to Sell Your Home – It’s for the Agent to Get Buyer Leads
Open houses have always been designed for the agent to do marketing. To meet the neighbors that might be selling. Serious buyers want a private showing.
In conclusion, listing agents have a significant role in guiding sellers to make decisions that are in their best interest. By emphasizing these critical points, agents can help sellers avoid common pitfalls and move towards a successful sale. It is always recommended to work closely with a professional real estate agent to navigate the complex landscape of the real estate market. For more insights and guidance, visit Orson Hill Realty and Foothills Real Property.
Dan Skelly Real Estate
- 1 The Things Listing Agents Need to Start Telling Their Sellers – Our Job is to Tell People Things They Don’t Want to Hear
- 1.1 1. Never Ever for Any Reason Push Closing Back
- 1.2 2. Your DIY Project Did Not Add as Much Value to Your Home as You Think It Did
- 1.3 3. The Only Thing That Determines Your Market Value is the Market (Meaning Buyers)
- 1.4 4. It Isn’t a Personal Dig When a Buyer Has Inspection Objections. Do Not Take It Personally
- 1.5 5. Your Neighbor’s Listing is Your Competition. Price Accordingly If You Want to Sell Before Them
- 1.6 6. Buyers Are Not the Enemy. You Need Them. Do Not Chase Them Away
- 1.7 7. Declutter More
- 2 8. Always Respond to an Offer
- 3 9. An Open House Isn’t Designed to Sell Your Home – It’s for the Agent to Get Buyer Leads