5 Common Mistakes Sellers Make When Choosing a Realtor

When choosing a Realtor to sell your home, take time to pick one with an excellent reputation for listing homes. Choosing the wrong one will undoubtedly lead to financial and emotional headaches.

Here are several things to consider when choosing a Realtor so that mistakes can be avoided:

1. Hiring a Friend or Family

Choosing a Realtor, simply because she is your neighbor or family can be a very bad idea. Your top priority should be to sell your home for the best price as quickly as possible. By contracting with someone based on a relationship without scrutinizing out their credentials or references, the seller could be tied up in a contract that is not beneficial to them. If something goes awry during the process, it can cause conflict and can ruin or damage the relationship.

2. Listing with an agent who gives you the highest selling price

Choosing a Realtor because they suggest the highest price is a common mistake made by the home seller. You should hire someone who can give a strong market analysis to help you determine a reasonable price for your home and to avoid overpricing. It is important that your home is priced right to attract potential buyers.

3. Choose a Realtor based on Commission

Agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising will cost them money. So the lower the commission, the less incentive for an agent. A full service agent earning a full commission will often drop everything to handle any challenges that come along.  If a Realtor agrees to a lower commission with very little or no resistance at all, imagine how strong their negotiations will be on your behalf when you receive an offer. The seller needs to have more information about the Realtor’s experience and success and not rely solely on the fact of lower commission.

4. Hiring the so-called “neighborhood expert”

An agent living in the neighborhood doesn’t necessarily mean that they are better equipped to sell your home than someone who does not. Knowledge of the local market isn’t only acquired by living in the immediate neighborhood. A full-time realtor can get up to speed on a neighborhood fairly quickly by extensive research. Remember, selling a home is not location dependent it is about having the business skills.

5. Picking from an Open House

Open houses basic function is to connect the Realtor to other prospective clients. Yes, open houses can sell homes, but the percentage is so low. It is more of a way for the listing agent to advertise and to pick additional clients. Good agents know better than to pin all their selling effort on an open house. They should use their time in more effective marketing methods, not directly to the public but to other agents. By getting other agents interested in your home, your listing agent multiplies your sales force beyond just one individual.

Final Thought:

When choosing a Realtor, find out about their experience and success rate. Check their references and their satisfaction rate from their previous customer. As a seller, you have the right to choose the best person to fit your individual needs. Selling a home can be challenging, but with the help of a reliable Realtor, you can avoid making mistakes and reap the rewards of your sale.

We welcome your feedback and comments. We are also able to give you a FREE analysis of the current value of your home. Please CLICK HERE to request or call 704-510-0099

 

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