You are about to learn a few pearls of wisdom that your real estate agent
might not want you to know…
14 Golden Rules: You may be familiar with some of these ‘14 Golden Rules’ and less familiar with others, but these ‘14 Golden Rules’ have stood the test of time and have been formulated by real estate experts with many years of experience in the real estate industry.
Some of these ‘14 Golden Rules’ may be something you have never considered, but I can assure you they do work! These ‘14 Golden Rules For Selling Your Home At The Best Possible Price’ have been valuable to many of my clients and will hopefully be of value to you too. After all, your home is probably the most valuable asset you will ever sell. Make sure you visit our blog. As well and also our latest issue is packed full of new property listings.
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Never, ever, ever, tell a real estate agent what price you are expecting to get for your home when you have asked them to give you an appraisal. While most real estate agents are honest and diligent, there is the occasional unscrupulous agent who might use that information to their advantage.
Especially when the property is worth a lot more than what you were expecting to get. On top of that, you do not want to influence the appraisal price because your listing price needs to be realistic if you don’t want your home to sit on the market forever.
Always, always, always get at least 3 different real estate companies to give you an appraisal on your home. While intentions may be genuine, salespeople do not always get the price right (even registered Valuers can vary in price for the same property) and by getting at least 3 appraisals you can quickly see if there is disagreement.
If there is a wide variation in appraisal prices then just perhaps your property might be suited to auction or tender. That way you can let the market tell you what your home is worth.
In a hot real estate market a competitive auction can achieve a much higher price, but if the market is saying less than you expect, a reserve price protects you from selling the property for less than you are prepared to take. And who knows, it may be worth a lot more than what you, and the various real estate agencies, think it’s worth!
If you are selling because you HAVE to sell, never let on to a real estate agent that you are desperate or your reasons for selling. Even if you are desperate to sell, your response is always that “it’s time for a change.” If some agents even get a whiff of desperation, they can unwittingly pass that on to a buyer and you can be assured of getting less than what your property is worth—even in a hot market.
Some real estate agents won’t take a listing from a seller who wants more than the market will bear, and others will tell you what you want to hear so they can secure the listing. But that can come back to bite you!
That’s because your home will sit around on the market longer than it should, and then the agent finally advises cutting the price to what it should have been in the first place.
While a real estate agent’s goal should be to get you the best possible price in the shortest possible time, reality and current market conditions must come into the equation. So don’t let agents buy a listing with an overvalued appraisal.
Some real estate agents won’t take a listing from a seller who wants more than the market will bear, and others will tell you what you want to hear so they can secure the listing. But that can come back to bite you!
That’s because your home will sit around on the market longer than it should, and then the agent finally advises cutting the price to what it should have been in the first place.
While a real estate agent’s goal should be to get you the best possible price in the shortest possible time, reality and current market conditions must come into the equation. So don’t let agents buy a listing with an overvalued appraisal.
If multiple offers start rolling in on your home, it’s easy for you to get carried away. All sorts of numbers can be flying around the place and expectations can get inflated. Don’t let this get to you.
You need to keep your head about you and think rationally because sometimes the highest offer isn’t necessarily the best offer. Think through all potential outcomes… have the buyers inflated the price of their home so they can buy yours?
Can they raise that much of a mortgage? During a bidding war, emotions are running high for buyers too, so keep in mind that some offers can fall through, and often, a cash offer in the hand may be better than a conditional sale in the bush… a sale with a higher price that may never eventuate.
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