Costly Mistakes Home Owners Make When Hiring a Seven Hills Real Estate Agent and How to avoid them

Jhai Mitchell

The Biggest Property Selling Mistake you can make!


“I know that, but We Need More Money”


As a prospective home seller, it is quite easy to base your
hiring decision on the real estate agent in seven hills who promises to deliver the highest sale price. As
I said before, that's perfectly natural, after all you have financial
obligations to meet and more money means more options. You may need to raise
your child's university fees, buy a bigger home, or pay for that greatly
overdue holiday. Base your decision on that fact alone and you will
probably end up worse than you did before.


It is sad, uninformed property sellers often choose the real
estate agent who tells them the highest price, which is the biggest mistake a
seller can make.


Establishing Value


The sad truth is that what you or your agent or other agents
think as the correct value of your home matters very little. The buyer who
makes you an offer is the only person whose opinion counts for anything.
Pricing homes really is both an art and a science rolled up into one. On one
hand, it involves comparing your price with that of similar properties while at
the same time tracking market trends based on current housing inventories. In
other words, you want to come up with a price range that most realistically
reflects these factors. It is a delicate balancing act that only a good agent
can master.


Agent Test



  • A good agent will show exactly
    how thy came to a price.

 


Remember that no two appraisals by different agents are ever
the same. If these are done correctly, however, the variance in price should be
small. There is no right or wrong price for your home. What you should work
with is the best estimate of its price, based on the combination of factors I
have mentioned above.


Is the Price too Low?


For any property transaction to sail through, the buyer must
be willing to pay the price the seller is willing to accept for the property.
If your home is priced too low, way below its correct market value, you will
most likely receive multiple offers with the effect that the final price will
be closer to its true market value or even above. This style of selling is known
as an 'offers over' strategy and is used to great effect by experienced real estate agents.
You are therefore not likely to experience any serious setbacks by pricing your
home too low. It's a different story for overpricing your property or choosing
an agent based solely on their quote for your property's highest potential
price.


That is how it all
falls apart!


Think about it if you were a buyer and you have seen a home
that has come on the market for a high price and they have had to lower the
price every 2 week for 2months….? We see this all the time in selling real
estate and it is more common that you think. Give it as test next time you go
see an overpriced property for sale.


The longer the property sits on the market, the worse the
offers tend to get. Typically, as soon as a property is advertised on the
market, it tends to receive the most attention in the first two weeks. Buyers
who have been searching for a home will possibly view any new homes that appear
on the market. If the price is right, you will get bucket loads of people to
you open home, the a well-informed buyer stress out with all the competition
and will definitely make an offer, in which is the key time you should be
prepared and ready to make the serious of moving.


 


Pricing is an Art


You should ideally get offers for your home within the first
30 days after listing it. If you have priced it right, you will get an offer
quickly. If your property is overpriced, you will be lucky to receive any
offers. You will most likely be forced to reduce your price, but this will only
make potential buyers suspicious, so going for price overkill does much more
harm than under-pricing.