The Ten Truths of Selling Your Home That Agents Don’t Want to Say Because Sellers Don’t Want to Hear
June 16, 2014
By P.R. “Randy” Cooney
Publisher, Arizona Journal of Real Estate & Business
Nearly three years ago we launched the SUCCESS INSTITUTE here at the Arizona School of Real Estate & Business. The Institute’s purpose is to assist real estate agents who are committed to increasing listings and sales. One of the sixteen courses the SUCCESS INSTITUTE offers is entitled, 50 Ways to Lose a Listing – as in SOLD. In this course, we discuss the importance of pricing properties to best attract offers. One of the concerns we address for a student is pricing and how a seller often times has a misperception of their home’s value. Another concern is how an agent can best communicate this sometime volatile topic of pricing, without offending the prospective seller. Many years ago I wrote an article to assist sellers in understanding the general rules of evaluation and pricing of a property. The article, which I used frequently with sellers, is entitled; The Ten Truths of Selling Your Home… that agents don’t want to say because sellers don’t want to hear. I’ve provided below the ten points included in the original article.
- The price the seller wants or needs has no bearing on Market Value.
- An upgrade is usually not worth as much as it cost – hope the seller enjoyed it!
- Yes, home buying is emotional however financing is based on facts not feelings.
- Pricing above market discourages offers.
- Pricing below market encourages offers.
- Market Value is determined by buyers.
- Neat & Clean is King and Queen of sell-ability.
- The number 1 thing an agent provides a home seller is: exposure to a much larger pool of buyers.
- The first 30 days is “prime time” for market visibility.
- PRICING is the primary factor of whether or not a property sells.