Thinking of selling? Be wise…
By Don | June 15, 2008
We all want to hear stuff what makes us feel good (or at least not bad), but when you think about selling your home or other property you need wise counsel. What do I mean? First, many sellers don’t have an accurate sense of the market value of their home for any number of reasons. And second, human nature being what it is (hungry real estate agents need your listing!), it can be tempting to a seller to hear an agent claim that if you list with them they’ll list your home at “x” number of bucks.
Sounds convincing and great! Why would anyone want to list with Agent A when Agent B will list your home for so much more? It simply doesn’t make sense!
But would Agent B buy your home for their suggested list price? I can almost guarantee you – no. They’re not buying your home, the market place is. And even if Agent B WAS looking to buy a home just like yours, I guarantee they wouldn’t want to pay that price.
But you need that higher price so you can do your next deal. Maybe there IS a Santa Claus out there willing to pay more for your home than it’s worth, but good luck.
Put the shoe on the other foot. Are you willing to help a stranger move into their next dream home by paying them a lot more money for their home so they can accomplish their goal? Thought so!
What I’m saying is be very careful to whom you listen. Choose wisely. Choose a consultant who’ll not only tell you what you want to hear but what you need to hear.
We all love our homes. We’ve all decorated our homes to suit our desires and tastes. Why wouldn’t anyone simply not LOVE the bison head hanging in my living room? Why wouldn’t anyone not love how I re-built the master bath in shocking pink?
Because of our emotions, feelings, memories and connectivity to our nests, it’s sometimes hard to objectively evaluate what a home would sell for in any given marketplace. A good consultant will be sensitive to your needs, but will also lead you through a process that brings your goals into harmony with the marketplace.
Unfortunately, there are numerous homes on the MLS today where the owners either had their ears tickled by what they wanted to hear, or got good counsel but didn’t (or couldn’t) accept it.
By not pricing their home competitively right out of the gate, these owners found themselves in a downward trending market, always behind the curve, and they’ve lost tens of thousands of dollars – if only they’d priced their home correctly from the start.
So choose your consultant wisely – and then take their advice seriously!