You Did What? The Top Mistakes Sellers Make When Choosing A Realtor

Posted by Mary Ray on Thursday, July 7th, 2011 at 10:51am.

You Did What? The Top Mistakes Sellers Make When Choosing A Realtor 

Are you thinking of selling your Cape Coral property? Before choosing a real estate agent to represent you, read this!

It's no secret that selling a home (and purchasing one) is often charged with emotions. Regardless of the reasons behind your Cape Coral home sale, you'll be dealing with certain attachments you've formed while living in the house you are now listing for sale. Choosing the right real estate agent will not only keep you on track with pricing and let you in on quick improvements that can be made, but an experienced, committed agent will also make negotiations and seller communication a smooth and stress free experience.

So how do you go about choosing the right real estate agent? The first step is by treating a home sale like any other business transaction and avoid making these top 5 seller mistakes. Let's take a look:

Mistake #1 - Your brother's best friend just got his real estate license. You should go with him. Friendships or relations are wonderful, but they won't get your home sold. You wouldn't hire a doctor or attorney based on friendship. A real estate agent should be no different. A successful home sale has the potential to provide you with solid financial gain, and a true friend will understand that this is not personal. It's a business decision.

Mistake #2 - Listing with the agent because they are the only one who agrees with your selling price. You'll always be able to find someone who tells you what you want to hear. Sometimes, an inexperienced and overzealous agent will simply resort to solidly agreeing with just about anything to obtain a listing. You really want an agent who will sit down with you, provide you with current market values for comparable Cape Coral homes in your area, and personally assess your home, providing you with solid reasons behind his or her recommended listing price.

Mistake #3 - Going with the agent who wants to list high, because the price can always be lowered later, right? Homes get the most attention during the 2-3 week window that it is considered a new listing. Pricing your home properly from the beginning will draw the most attention from other agents and the chances of selling will be high. When your home is priced too high, it will sit on the market and raise potential red flags in the minds of potential buyers once the price is lowered.

'Why hasn't it sold? Is there something wrong with the home that I don't know about?' These are the types of questions that will run through the minds of would-be-buyers. You may end up having to accept a price far below what you could have gotten for it, had your home been priced properly in the first place. This is a game that should never be played.

Mistake #4 - This agent promises to hold an open house every week. Open house events can and do sell homes, but usually not YOUR home. Yep, you heard me right. In reality, only a very small fraction of homes sell as a direct result of an open house. Most of the time, real estate agents use open house events as a way to network with other prospective home buyers. If your Cape Coral home doesn't fit the potential buyer's needs, the agent will have the opportunity to discuss other possible choices and possibly sell another home (but not yours) to a client.

Instead of relying on open house events alone, ask your potential agent to explain all the avenues of marketing they will use to bring visibility to your home. A featured spot on a prominent website, online virtual tours, an established network with other agents, and constant connections with qualified buyers are far more powerful marketing methods. Currently, over 85% of Cape Coral home buyers use the Internet to locate and view potential homes.

Mistake #5 - Listing with the agent who takes the lowest commission. Although an agent offering a cut rate commission seems noble, the old saying holds true, "You get what you pay for." When an agent offers to take a commission cut, you have to ask yourself why. Often, an inexperienced agent will use this as an attempt to gain listings. What will you get in return? A sign in your front yard, placement in the Multiple Listing Service (MLS) and little additional effort.

Realize that selling your Cape Coral property involves an agent putting up their own funds to advertise and market your home properly. A committed and experienced real estate agent earning a full commission will be available at all hours and handle every challenge and situation that arises. Also, keep in mind that the art of negotiation is a vital skill your agent should possess in order to successfully sell your property. Are you willing to put your trust in an agent who can't even negotiate his or her own commission?

Bottom line here? The best real estate agent is the one who will fully utilize every resource and strategy to effectively sell your Cape Coral property. Experience, marketing abilities, communication, commitment, and negotiation skills are a must.

If you are ready to list your Cape Coral home, we will be more than happy to assist you with a free consultation, a market analysis, and a home assessment. Give our offices a call today. You'll be glad you did!

By David Sporleder | Sporleder-Ray Realty Group | david@davidsporleder.com| Google+

 

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