According to a recent ABC News article, there are
six things that real estate agents want the consumer to be aware of
before they delve into the real estate process.
It’s not a conclusive list of all you need to know
about real estate, but it definitely points out items that are sometimes
missed between showings, contracts, lender meetings and looking forward
to a bright future in a new home.
The Gibbs Team is committed to educating our clients and we thought a quick overview of the ABC News article would be helpful.
Here are the six items the article discussed and we’ve included our own comments in italics: 1. Want to sell quickly? Price it just under the market. Pricing your listing at or just below market value is always the best way to move your property quickly. Even in a good market, multiple offers are common and could raise the sales price due to a lot of interest. The
absolute worst thing that a seller can ever do is to price their
property above market value because the most traffic is seen during the
first six weeks of a listing and it will pass quickly without offers and
then the seller will be forced to wait longer than they might want. 2. The pre-approval letter is just the beginning.Just
because a buyer receives a pre-approval letter from their lender does
not mean it is now time to hit the stores because financing is secured. In
fact, The Gibbs Team encourages buyers NOT to make any large purchases
until after closing because financing is crucial to purchasing a home
and credit card debt or bank account depletion can affect the approval
status. 3. Selling a house probably takes longer than you think. The time it takes to sell a home can vary. However, the steps are usually the same and include: home preparation to sell, time on the market, contract negotiation and closing preparation. On average these stages of the process take anywhere from 2-5 months 4.Not all ‘buyers’ are able to buy. As
a seller, if a pre-qualification letter is presented, please note that
this document is based on information the buyer has given their lender
and has not been authenticated. However, if a pre-approval letter is received, this means the buyer’s financial status has been verified by a third party. 5. It really does have to smell good.A stinky house, animals, dirty dishes, unmade beds and crazy colored walls REALLY do make a difference. These days, buyers are used to the ‘model home’ experience and are turned off quickly by a bad first impression. A
clean and comfortable (temperature-wise) home, good lighting and snacks
(a great touch) will create a setting that buyers will remember.
6. We don’t make as much as you think.Many
people don’t realize that real estate agents usually take home about
25% of the overall commission and that is not taking into consideration
income tax and health care. When a property is sold, the commission is split between the buyer’s agent and listing agent. The agent then gives a portion of their leftover commission to their broker. Commissions are always negotiable, but understand that you normally get what you pay for. http://marylynne.yourkwagent.com/atj/user/AdditionalGetAction.do?pageId=471675
Author:Michelle Cantrell Phone: 417-860-6505 Dated: December 11th 2013 Views: 1,059 About Michelle: Michelle is a native of Southwest Missouri and has twenty-five years of experience in selling real e...
The Michelle Cantrell Group wants to help you find your dream home! Specializing in all types of real estate throughout Springfield and surrounding communities. We are committed to providing the best real estate services, along with the greatest expertise and professional, personalized service to each of our clients.
We believe we have more to offer both home buyers and sellers. Our team of highly trained professionals specializes in marketing, financing, advertising, photography, graphic design and staging to make sure every single property gets the attention it deserves. Our team leads the industry in getting your home sold! We sell more because we do more! Our goal is to win the referral of your family and friends!