You must take into consideration the type of market that you're in and understand how to make your property get more attention. By attention, I mean, not just curb appeal and traffic, but offers that are realistic and acceptable.
I remember being told by a Vice President of Sales if you want to be successful you must figure out how to appear six foot two inches tall in room of people where everyone else is only six foot tall.
You must differentiate and somehow that will create more of a demand for your property. Okay, what should I do ?
1) Price your property slightly below the actual fair market value.
2) If you want top dollar u must and i mean must offer top condition.
3)if u expect top dollar u must and i mean must better be in an excellent location.
4) All things being equal u should agree to pay a higher commission which encourages agents to show your property. Why would an agent work so hard and not be expected to receive adequate compensation . Imagine if u went into the office on Monday and your boss told u John, we're cutting your salary by 50% and we expect u to work nights and weekends 7 days a week and I'm sorry but we're eliminating your benefits package. Can u have this report on my desk in one hour?
What would your reaction be?
Besides offering a commission that attracts agents you better declutter and make believe your going out on your first date. Yes that means putting on make-up(freshly painted, carpets professionally cleaned hardwood floors resanded and refinished, and everthing must shine!!!) and looking as perfect as possible.
Imagine you're sitting in a talent agent's office in Manhattan and your called in to showcase your talent. You get up and start rapidly flapping your arms until you fly out the window circle the Manhattan skyline and fly back into the office. The talent scout looks up, says Bird Act OK what else can you do?
You must remember you are in a buyers market where there is an excess of inventory, and you are also competing with a slew of short sales bank owned properties and foreclosure auctions.
Therefore it would behoove the saavy seller to go even further. How??? By offering seller's concessions that are extremely valuable that you can buy at a discount. Whenever you can lower closing costs, and buy down the mortgage rate you are basically increasing demand for your property. All of a sudden your house became much more affordable.
Finally, I would implore you to respect your real estate agents time, insight, expertise, and ability to do their job. If you follow the counsel of attorneys, physicians, CPA's, why don't you behave similarly with your real estate agent?? And if you don't represent yourself legally, or perform surgery on yourself or do your own taxes why would you try to be your own realtor?
It's a lot more complex than you think and a great realtor is a huge asset who will create wealth, and help you maximize your ROI when its time to move on. They will also smooth out a difficult transaction and help you avoid all the costly pitfalls that can severly impact your net worth. It's wiser to focus your energy on what made you successful
and allow your realtor to focus on serving your highest interests.
Naturally you must be responsible, prudent, and keep a close eye on what's going on as its your life and usually you care more about the outcome. But somehow even though you may care more you are still not as experienced in handling this transaction as your realtor is and experience is acquired with great pains.
Please call 516 680-8872 if u have any questions or e-mailgerrymarina@gerrymarina.com.
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