These thoughtful tactics and tips can be used while selling your home. We've found that these tips help sellers understand 'what buyers want', decrease the 'Days on Market' and result in a 'hassle free' transaction.
View of Deer Valley from across Jordanelle
It takes a lot more than a for sale sign in the front yard, a Multiple Listing entry, and an occasional ad in the classifieds to get a listing sold. Be sure to discuss the details of the marketing plan with the companies and Realtors you interview about selling your home.
Realtors who provide quality service will usually have a written marketing plan tailored to fit your home and your individual needs. A good marketing plan begins with pricing the home well, and will involve exposing your home to as many real estate professionals and qualified buyers as possible. The agent's job is to get buyers through your front door; your job is to ensure that the buyers like what they see. Top agents are very active in finding prospective buyers and in coaching sellers about how to enhance their home's presentation. There are differences in the marketing approaches of companies and individual agents, so ask for a written plan to give you a clear idea of what you can expect of your agent.
Real Estate Matchmakers
When you list your house in the Park City area with a Realtor who participates in the Multiple Listing Service (MLS), you get a lot of services for you money. Depending upon the MLS region, there may be hundreds of participating members.
The Realtor who lists your home works to get is sold. This is done by marketing directly to home buyers, but an even more powerful tool is marketing your home to other agents who have buyers. Your Realtor makes all the crucial information about your home available to the other members through the MLS, such a location, size, the number of rooms, the style of architecture, what personal property is included, and any other special features. The MLS description will also contain information about any special financing that might be available, showing instructions, and special needs you may have with respect to closing. It is a powerful tool for real estate matchmakers.
When Sellers Should Beware
You contacted a Realtor to list your home in the Park City area, and the agent indicated that you might get more for your home than comparable homes on the market. After all, it just takes finding one person who is willing to pay your price-right?
Some Realtors approach a listing appointment as if they are bidding for your home. Sellers often start out with an unrealistic opinion of their home's value, and there is often a strong temptation to go with a person who says what you want to hear. A good Realtor will back up their opinion of your home's value with hard data. The agent should give you information about homes that are currently on the market, and recent selling prices of similar properties. The most heroic marketing, efforts will not work on a property that is overpriced. Even if you find a buyer who is willing to pay more that your home is worth, the sale could fall apart when the appraisal comes in lower than the agree-upon price. Listen to everything but be careful.
Making Intelligent Pricing Decisions
It is crucial to price your home correctly from the beginning because it will not sell if it is overpriced. Don't make the mistake of thinking that you can reduce the price later because you will have already lost many potential buyers. The motivation of the seller is another very important factor. The higher the sellerÂÂs motivation, the lower the price, and low motivation will mean higher price.
The state of you local real estate market is one of the strongest determining factors when pricing your home. A professional Realtor will be able to guide you through the pricing pitfalls with a written market analysis that includes the selling prices for similar homes in your area.
It is easy to be offended by someone who is making an offer on your property. Even if the buyers love your house, they are trying to negotiate the best possible price and terms. They probably will not let you know how much they want your home until they have a purchase and sales agreement.
Buyers almost never write offers that please the sellers entirely. Offers and counter offers may be traded back and forth over a few days or even weeks. When there is finally a meeting of the minds, both sides may feel worn down by the whole process. One of the Realtor's most important jobs is to act as the intermediary during such negotiations. With our knowledge of financing, negotiation procedures, and the tax law affecting real estate sales, we come up with creative solutions to the challenges that may arise.
For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll-free at 1-800-553-4666. Craig has been a full time Park City Resident since 1973 and a full-time real estate agent since 1978.