6 Common Home Seller Mistakes To Avoid In Ulster County NY - #4 - Not Enough Focus On Other Agents and THEIR Buyers
Whatever your reasons may be for selling your home, you probably know that Ulster County NY real estate has drastically changed over the past few years. So Taft Street Realty decided to create a series about common mistakes that can be made when putting one's home on the market. It's no secret that most homes are sold by cooperating brokers/agents. The biggest mistake a seller (or their agent) can make is not targeting a portion of their marketing towards existing agents that are already working with qualified buyers. Earlier we discussed Mistake #1 - Hiring the Wrong Agent, Mistake #2 - Repeating Failed Strategies, and Mistake #3 - Not Enough Exposure. For this post, we'll cover Mistake #4 - Not Enough Focus On Other Agents and THEIR Buyers.
Many Ulster County NY homes for sale often go unnoticed because of the large supply of homes currently on the market. The endless sea of homes makes it easier for any single home to slip through the cracks. It's our job as local expert Ulster County NY real estate advisors to make sure our seller client's homes are exposed to as many agents as possible. More often than not, it's these agents who are going to have that one buyer needed to sell our clients' listings.
In every market there are 3 types of buyers. Local in town buyers, out of town (non-local) buyers, and then all of the buyers already working with another agent. At Taft Street Realty we have systems in place to promote and expose the home to all three of these buyer categories. That's why it is very important to know the product and who it will appeal to so that the marketing can be as specific as possible. We here at Taft Street leave nothing to chance. Gone are the days when you can hammer in the sign, have an open house with balloons, sit back and wait for the offers to roll in. Not happening today, sorry.
Keeping our listed homes in the top of the minds of top producers in the market will surely add to the showing count - hopefully leading to an offer much sooner rather than later. And we know that the faster the offers come in the more likely it is that the seller will be getting top dollar for their home. Marketing to buyers is only one pillar of the marketing mix. Another pillar is the exposure and reach we have with the top 5%-10% of agents who are already working with ready, qualified buyers. Targeting these buyer specialists only increases your odds of getting your home sold fast and for the most money!
Another related mistake is the incentives or commission offered to these buyers agents. If there is a high likelihood that another agent outside of the listing firm will be bringing the buyer, then it would be in the seller's best interest to offer the highest incentive possible. Commissions are always negotiable, so at the end of the day it comes down to: the listing agent and the marketing they bring the table, the seller's offering price being competitive, and what incentives are on the table for other cooperating agents. If an agent sees a high incentive then that agent will be more motivated to show the home and will most likely be "talking up" the home to their buyers and other agents they talk to. Perhaps the incentive is a bonus or a higher commission split, regardless, it then boils down again to how different is your home from the competition, just as we laid out in the #2 Mistake Ulster County NY home sellers often make.
As I'm sure you can begin to see, having a plan in place to be different and stand out and hiring an expert who is doing the right marketing to expose your home to the best of the best of co-op agents is the strategy needed to get top dollar and sell fast in today's tough market. But there are still other mistakes we feel the need to cover. So stay tuned as we continue our series on the top 6 mistakes sellers make in Ulster County NY real estate and more importantly, how you can avoid them!
Read On For Home Seller Mistake - #5 - Not Enough Qualified Buyer Showings
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