This is a fantastic story that I must share with you, and I couldn't believe it when I heard it from my taxi driver on Sept 16th. I was sharing with him my experience of selling my own home. And it reminded me of a mentor of mine, who said every realtor should have to sell his/her own home every 5 years just to experience the process and have empathy for our own clients. He was only half kidding, but it truly was an emotional experience having lived in this (my first) home for 7+ years.
As I relayed this story to my driver, he mentioned he didn't think it was such a big deal, having purchased his home privately not so long ago. A few friendly questions later, he revealed to me that they got caught up in the excitement, and purchased the home pretty quickly. "Sometimes you can save money selling it yourself." - he said to me. A little prodding revealed that he didn't pay the asking price, and I assumed he negotiatied from the price the fees for the realtor's services, as is often the case. No so my friends, he purchased the home for $325,000 instead of the $360,000 asking price. 9.08% less then asking price! I was astounded to hear this happen, and wondered if the Seller still thought it was such a good idea to sell privately.
Either the home was way overpriced, or my cab driver is best negotiator in town. I pointed out to him as we approached my destination, that the List-to-Sell ratio on MLS is about 98%, and what's more, as good a deal as my driver appeared to get, how does he know he still didn't overpay?
There is only one way to really know, and that's MLS. He dropped me off at my sister's house, and I paused to reflect a little about this incredible story I just heard. If that doesn't make you rethink selling or buying your next house on your own, I don't know what will. Call me right away, and I'll tell you about the 4 stats you should arm yourself with, when considering your next real estate transaction.
Are you ready 2 move?
I always welcome your opinions and feedback, please tell me if you have any similar stories to share. Send your comments to szabolcs.pall@century21.ca
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