MYTHS THAT KEEP YOUR HOME FROM SELLING
Myth: You should never price your home high and gradually lower it if it doesn't sell.
Truth: Pricing too high is much better than pricing it too low.
No one knows the correct price of your home; only the market will decide. A CMA will give us an indication of range, but not the selling price. Price is a discovery process. Price outside of the Market and you get no showings; price near the Market you get showings but no offers and price at the Market and you get offers and a sale.
You discover price by systematically dropping into the proper price range on a 14 day cycle at 5% intervals.
Myth: You have a narrow window of opportunity to sell your home so you need to price it right.
Truth: The Internet has made this a lie.
Many Realtors still believe that if you don’t list you home correctly you will have lost a large group of potential buyers or that the price scared them off and they never return. Again, many Realtors don’t understand how people now search for homes on the Internet and how buyers and home search sites save criteria and your home will constantly be exposed to hoards of new buyers as you drop into the proper pricing range.
Myth: Good sellers should be available to guide prospective buyers through the home, giving the whole process a more personal touch.
Truth: Prospective buyers will feel more like the house could be theirs if the current owners are not there.
The presence of homeowners during a viewing can make buyers feel like they are intruding. They need to be able to visualize your house as their home, which can be difficult to do when they are acutely aware that it is still your home. Your Realtor knows best how to show the home most effectively.
Myth: When you receive an offer, you should make the buyer wait. This gives you a better negotiating position.
Truth: You should reply immediately to an offer!
When a buyer makes an offer, that buyer is, at that moment in time, ready to buy your home. Moods can change, and you don't want to lose the sale because you stalled in replying.
Myth: Marketing is the primary reason your home did not sell.
Truth: Marketing doesn't sell it just influences.
Marketing is secondary to market pricing strategy. Marketing impacts price only at the margin. Marketing cannot make a $300,000 home worth $400,000. At the end of the day homes are going to sell at or near recent sale prices of comparable homes since they need to be financed. Accurate and compelling descriptions and information and terrific photography will influence buyers in a positive way.
Myth: You need to hire the neighborhood expert.
Truth: Only if you want to sell your house to a neighbor.
Most people want to make sure their home is exposed to the world. You are much better off with a World Wide Expert…think Internet expert.
Here is the test for Realtor that says they are “The Neighborhood Expert”…see how many listings they have outside of your neighborhood. What did they tell those sellers to get the listing…I’m sure it was not that they are the Neighborhood Expert!
Myth: The agent has Buyers.
Truth: If the agent really had buyers they would have already asked for a “one time” listing for the buyers to look at your home and make an offer. Realtor's get paid by selling homes.
Myth: The current Agent shows my home more than anybody so this shows how hard my agent works.
Truth: There are thousands of agents in our market with thousands of buyers and if your agent is doing the majority of the showing their marketing program is not working, they are not exposing it properly to other agents, they have “pocketed” the listing or they have “salted” the mine.
Myth: My agent is great, they hold Open Houses.
Truth: Your agent is using your house as bait. You get kicked out of your house so your agent can “fish” for buyers.
A well prepared marketing plan exposes your home to thousands of potential buyers daily and with technology there is little need to have an open house. That is not to say your house won’t sell through an open house and you may also have bought the winning lottery ticket.
Myth: I need to have three or more agents preview my home before listing it.
Truth: The problem of inviting agents into your home is you take them on a tour and sell them on all the positive aspects of your home. The agent in-turn tells you how great your home is and how they would like to have the listing.
You sold the home to the agent and the agent sold it back to you. You feel great that the agent understands the value of your home but end up disappointed when it does not sell. Many listing agents are like politicians, they listen to what you have to say and then tell you what you want to hear.
Selling your home is a business and you need to treat it as a business. Meet the potential agents at their business location and discuss the strategy and tactics it will take to sell your home for the highest market price possible in the least time possible.
Only after you have determined who your agent is going to be should that agent preview the home. Take the emotion out of the process and your home will sell.
We invite you to contact us and arrange a confidential strategy meeting to see if our program can get your home sold for top dollar in the least amount of time.