Sell My House Fast, or else. Not a good position to be in. Is foreclosure a possibility? That’s a lot of pressure and not an uncommon situation in today’s real estate market.
Most home values have dropped – perhaps more than you would like to believe. So how can you get the best price possible for your house? Well, let’s just say that the more people you can get to make you an offer, the better your chances are of making a sale. That’s both the problem and the solution.
Traditionally, it was the Realtor’s job to find Buyers for your property. That’s what they get paid the big bucks to do. And it’s not an easy job.
To accomplish this, they use their Multiple Listing Service (MLS) to announce the availability and price of your property to encourage other Realtors to bring a Buyer to you.
But what happens when Sellers outnumber Buyers by a considerable amount? That’s what is going on in todays marketplace. Buyers are in short supply. The old ways of doing things just aren’t as effective as they used to be.
A NEW selling strategy is required to bring your house to the attention of the most Buyers possible in the least amount of time – intense Interest and Momentum needs to be generated.
You can’t blame them. Every Buyer is looking for the best deal they can find and if you MUST sell your home you MUST offer those Buyers what they are looking for – the best price possible for both you and them.
A Buyer can be found for your house or condo in less than 21 days. These techniques can be employed whether or not you plan to use a Realtor. In fact, some Realtors are starting to apply these principles and tactics – but they are few and far between.Mail this post
You are running out of time. You need to sell your home fast. Most homes are sold with the help of a Realtor. You are more likely to be successful if you have one on your team.
You need a Realtor for their experience, their negotiation skills and their MLS. But before you sign that Listing Agreement, BE SURE you will be working with a Realtor who is also able and willing to "think outside the box", who is flexible and open-minded. A Realtor who is working FOR you. They must be willing to let you get involved in their process.
Generally, these will be the younger, newer Realtors. Their listing presentations will not be as polished. They will not have their faces up on the billboards or featured in the real estate magazines. But, they should be confident, energetic and have some negotiation experience.
Most Sellers sign an Exclusive Right To Sell listing agreement with their Realtor. This is a legal contract they are making with their Real Estate Agent’s Broker – not usually with the Real Estate Agent themselves.
You are hiring that Broker to find you a Buyer who is willing, ready and able to purchase your house at the price you are requesting – and you are locked in for the duration of the agreement (usually 6 to 12 months) which is negotiable.
With an "Exclusive Right To Sell" agreement, even if you do all the work and find a Buyer yourself, you are still required to pay your Broker the sales commission you agreed to (typically 5% or less these days).
However, there is another option available to you known as the Exclusive Agency agreement. Your Realtor will probably NOT even offer you this option. You must know enough to request it. Only about 5% of listing contracts are of this type.
With an "Exclusive Agency" contract, you reserve the right to sell your own property yourself through your own efforts; and if you do, you do not owe a commission to the Broker. However, if a Realtor does find you a Buyer, you are required to pay them the agreed commission.
Your Realtor will be more energetic and focused on your behalf if you sign an "Exclusive Right To Sell" agreement with them. Remember, no one cares about finding a Buyer more than you do. The key to selling your home quickly is to get involved with the marketing and work with the right sort of Realtor to get your through the process.Mail this post
Regardless of which way you go, an effective marketing strategy is what will sell your house. Your home MUST stand out from the crowd or your home will just not sell like it could. Marketing is really always the only issue.
Its easier to measure a Realtor by how many listings they have instead of by how many homes they have sold. When you see their colorful advertisements with page after page of homes they have listed, you could be impressed.
Realtors tend to put more energy into their NEW listings waiting to see what the marketplace thinks about them. That is why a proper pricing strategy is so important. If there is no active interest for 2 to 3 weeks (about 21 days), they will start to focus their efforts elsewhere. Wouldn’t you do the same?
The reality is that many times, once a Realtor gets your listing, they put it into the MLS and hope that some other Realtor will finish the process by finding a Buyer for them. It is possible that they will do nothing else to get your home sold, especially if you have forced them to list it for more than they think the marketplace will accept.
So, if you can help to start generating interest and showings early in the sales cycle, your Realtor will stay focused and involved with your property longer.
Just a few years ago, it wasn’t possible for you to get involved in this way. All you could do was sit and wait until something happened. But, the Internet has changed all of that. Now its possible to get involved in the marketing and promotion of your own home.
Think of it as a variation on "sweat equity". You are trading a bit of your time to get your house sold faster and at a better price. As time goes on, this pattern will probably become common practice.
Heck, with the knowledge and experience you gain in helping to market and sell your own home, you might be able to help a neighbor or friend market and sell their own home – for a small fee…Mail this post
It is easy for Sellers to believe that their home is worth more that it really is. Sellers make the mistake of asking for too much – and even out of desparation asking for too little.
To get the best price possible, it is essential to let the marketplace do its thing. That means getting as many Buyers as you can to see your home and make you an offer – Ideally generating multiple competing offers.
The current real estate market is just the opposite of what it was a few years ago during the boom years. Today, its a Buyer’s market. They are in the driver’s seat and the scales are tipped in their direction. It’s the simple law of supply and demand.
Currently, there is excessive supply in the marketplace which tends to force prices lower. The old strategy of "list and sell" just does not work effectively in this situation. If your home is not properly priced at or slightly below true market value, what Buyers there are will not even consider taking a look at your home.
To make this happen, you need to step up to the plate and get involved yourself. No one cares as much as YOU DO about selling your home. A Realtor will give it their best for 3 or 4 weeks, but they probably have other properties to sell and other opportunities to pursue – YOU DON’T.
If you choose to use one, your Realtor can be an important member of your home selling team. They have the MLS. The good ones are experienced in negotiation and market evaluation. But, they do not have unlimited funds to conduct an extensive marketing campaign for every home they list.
That’s where you can help by involving them in executing a simple, straightforward, step by step marketing campaign which will bring Buyers to your door and allow you to sell you home for the best possible price.
Don’t sit on the sidelines – get involved, take action. make it happen.Mail this post