There are a number of competent, pleasant, and experienced realtors® who can handle selling your property. Given similar abilities, the broker who usually winds up selling a listing is the last one retained. Here’s why:
Although reputation, marketing, responsiveness, excellent professional judgment play a part in getting to the closing table, timing and price are usually the two main factors that promote a sale.
Timing– A hot market, where prices are rising and little inventory reign, usually engenders multiple offers and a quick sale.
Alternatively, in a cold market, the inventory glut coupled with steadily decreasing prices produce few buyers and low ball offers.
Pricing– A listing price should be established by completing a comparative market analysis. If you don’t have historical data for similar properties within a several mile radius and 6 month closing date, you can’t possibly determine a legitimate opening listing price.
And—without an objective basis for the listing price, you might as well consult your Tarot Cards, read tea leaves, or refer to your astrological calendar. Not giving your house away is just another way of saying: “I am not losing any money.”
The brutal truth is a simple: The real estate market is determined by supply and demand. Too much inventory, lower prices. What you paid is not relevant for selling today. It was relevant when you purchased.
The miracle broker steps in when the seller finally wakes up and decides unreasonable pricing is preventing a sale. The seller’s wishing stops, the phrase: “I’m not giving my property away.” dissolves, and the agent who winds up selling is the broker who priced correctly and convinced the owner timing and price were the two critical elements in the selling process. Usually, it’s the last broker retained that makes the sale.
John will prepare a market analysis and fill you in on the current real estate market. Contact him so you have an objective guide for selling your property in today’s difficult climate.