In both automobile repair and real estate most folks are willing to offer advice. Got a 1982 Oldsmobile that idles rough? Tell your friends and family! In no time you will be inundated with suggestions. Of course, rarely does any of the advice lead to a smooth running Oldsmobile (if there ever was such a thing).
Likewise, most of your friends and family are experts in the field of real estate. Why? Because they have bought and sold houses, sometimes even two or three! Sadly, following such counsel will often lead to a broken Oldsmobile and a home that won't sell. Here are some "tips" that friends and family have passed to my clients this year. Enjoy!
1) You Should Always Counter an Offer-- Recently a client received a fair CASH offer on their property. Listening to their friend, they countered a nominal amount. Sadly, during this time a better property hit the market. The counter allowed the buyer to purse the other home. The sellers house has not had a showing since...
2) Never Accept The First Offer, The "Real" Buyers Wait a Few Days--My jaw dropped like the AFLAC duck when a Mother-in-law (are they good for anything?) told a client this. I wonder what TV Realty show she got this from? The "Real" buyers are the ones that bring you an offer in writing.
3) You Should Always Be Home For Showings--After all, who knows more about the home than the owner? This is great advice, if the goal is to NEVER sell the house! Buyers get nervous when the seller is present. It is uncomfortable enough touring someone's home, having the owner guide a tour makes this even worse. Such showings are typically VERY short.
4) Don't Even Start To Move Until AFTER CLOSING!--Like the Swine flu, this virus is spreading across my market. Three times in the past Quarter sellers have asked "how long do I have after closing to move out"? Each time a parent told them it was unwise to pack until the Deed was done. Yes, escrow can be a challenge. But the owners ALWAYS want possession at closing. Would you be willing to stay in a hotel AFTER closing so the sellers would not be rushed? I didn't think so!
5) Price Higher Than You Expect to get, Always Leave Some Wiggle Room--Price your home above market value and the only "wiggling" you will be doing is the foreclosure dance. Overpriced homes (even as little as 5%) sit on the market, and here's the kick in the butt...When they do sale it is typically for BELOW market value!
Need some real estate advice that will actually get your house sold? Call Doug Rogers at (318) 613-1994. As for the Oldsmobile, you are on your own!
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