Monday, November 17, 2014

4 Obstacles That Are Next to Impossible to Overcome When Selling Your Home

4 Obstacles That Are Next to Impossible to
Overcome When Selling Your Home

Homesellers have a huge challenge when deciding to sell their home. And however unfortunate, far too often, sellers will choose an agent to represent them  not equipped to represent them effectively.  For most sellers their primary objective is selling for the most money.  As a result there are subject choosing an agent based on the wrong factors. Those who know me well, know I suggest sellers be wary of the agent selling the Dog & Pony Act or Misdirection of the issues that really matter.  If you are thinking of Selling, I’d be happy to discuss these with you, but in the meantime, I have come developed this list of the 4 things that are next to impossible to overcome when selling your home. My hope is that even if we don’t have the opportunity to work together that this information can provide guidance to make an informed decision about who you choose to help you with perhaps your most valuable asset.


     1.      Not Pricing Your Property Correctly
Selling real estate can be a deeply personal event.  Everyone wants to believe that their home is worth more than the neighbors, it is human nature. Given the homogenous quality of real estate, market information must be evaluated appropriately when establishing a market offer price. Establishing an attractive market price is imperative in creating an attractive offering in a very competitive market.  Though I appreciate that sellers want to sell for the most money, pricing of the property needs to be a price which is attractive to the market and potential buyers.  Failing to choose a competitive price is the worst mistake a homeseller can make. My objective when representing clients is to place them competitively within the market where we can attract to largest potential pool of buyers.  The good news is, a large percentage of your competition will not be priced right and can help to your property more attractive to potential buyers.  If done properly, you will be in the driver’s seat for negotiations with both Buyers and their Agents competing to drive up your sale price.

It doesn't really matter how much money you think your home is worth. Nor does it matter what the agent suggesting the higher market price thinks. Homeowners should be leery of agents, pardon another colloquialism, Trying to Buy your Listing, an all too often bait & switch approach to secure clients. Not pricing your property correctly will result in a significantly smaller pool of buyers, and longer market time and ultimately significantly less money on your pocket.  Instead of hiring one of these guys who will badger you for months for price reductions – Price it right the 1st time.

2. Failing to Respond to Market Indicators
The real estate market is dynamic. At any given time, it will give the necessary information needed to make adjustments to your home’s price or presentation. If your home is not getting the needed response from buyers currently viewing your property, adjustments needed to be made sooner rather than later.  Time is a crucial factor in netting the highest possible price and is evidenced by historical data that reflecting an inverse relationship between length of market time and list to sale ratio. Having a proper pricing strategy that addresses this issue is paramount in the process and refusal to be responsive will affect your bottom line.
 
      3.      Failing to Make Your Home Available to Show
Perhaps unlike any other sale process, placing a home that is occupied greatly inconveniences the seller. Your home has be ready whenever a buyer wants to see it; the property should be clean at all times which may make you feel like you have taken on a 2nd job as a housecleaner; and creates a stressful feeling of uncertainty for the homeowner. Now I’m not suggesting that your home needs be available to the prospect that happens to drive by your property by chance and wants to see it now! In reality, allowing access to unqualified buyers is not got a practice and can even place a seller at risk. But most Buyer’s Agents have taken efforts  to ensure their clients are ready to act when the right property comes along. They prequalify prior to showings and generally schedule competing properties to be shown together. By not having your home available at the convenience of the buyer to be viewed unencumbered (Without being present for the showing), you run the risk of your property not being considered by ready-to-act consumers.

      4.     Choosing the Wrong Agent

I cannot place enough emphasis on an agent’s experience and negotiation skills. Sellers place far too much emphasis on marketing efforts & property exposure.  But if you fall prey to this, you are likely to get mediocre results.  As with any highly skilled professional, what you are really paying for is what you cannot see! The very best professionals have years of experience with a wealth of situations that just cannot be duplicated.  Further, an agent who is skilled in negotiations can help to leverage your situation to your benefit. It is important to understand that no two negotiations are the same.  Only a truly skilled negotiator knows how to uncover information, discover what’s important to all parties, knows when to push and when not to.  Rarely do I have circumstances today where, with my properly positioned clients, I don’t dictate the tenor of our discussions. If it doesn’t matter to you – Expect to pay dearly for it!
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About the author: The above Real Estate information on the 4 Obstacles Next to Impossible to Overcome when Selling Your Home was provided by Ed Grabowski, Owner / Broker of Grabowski & Associates Real Estate Brokerage. ©Reserved. “My experience provides and insight you just simply won’t find with other professionals. My goal in representing my clients is offer true value, far beyond just dollars & cents.” 

Thinking of Selling your Home? I'd love to share my passion for real estate and marketing expertise! Ed can be reached via email at HomeSoldAZ@gmail.com or by phone at (480) 359-5150.

I service Real Estate sales in Scottsdale, North Scottsdale, Desert Ridge and surrounding communities.