SECRETS REALTORS WILL NEVER TELL YOU
We love Katie the Realtor. As appraisers, we value Realtors enormously and have wonderful, mutually beneficial relationships with them. We also know Katie has a vested interest in a sale more than she’ll tell you, but that’s just part of the professional selling game. Your agent performs valuable services, but is first and foremost and third and fourthmost, a salesperson. Katie wants you to feel like she is a friend who has your best interests at heart, but the truth is she will reap better financial rewards if you make a quick decision and she can move on to the next close.
Make sure that your agent, regardless of how personable and friendly she or he is, understands that you are a customer and that you need them to drive the best business deal for you.
1. Be aware of an “over-optimistic” initial price quote Lovely and talented Katie wants you to pick her as your agent, so she may inflate the price she gives you so you see dollar signs in your eyes and list with her. You need to price your home realistically or it could sit on that market for eons or aneons or heck, a real long time. Here’s an unabashed wise move—give an appraiser like us a call, or maybe not like us, actually us. We’ll give you an accurate valuation you can trust implicitly –based on twenty factors. So factor Pahroo in if you can.
2. Be willing to walk away With her best “rough tough” Realtor voice, Katie will tell other real estate agents that you “will walk away” from the deal if you can’t get what you want. Here’s the thing: she probably doesn’t mean it, but you should. If you really want to play hard ball, and big-time, be willing to stand your housing ground. No worries. We appraise your chances of finding another place as excellent. Don’t be surprised if it works, by the way. And don’t blame your friends at Pahroo Real Estate and Appraisal if it doesn’t.
4. A low ball is not the 8-Ball
5. Who can you trust? Can it be the listing agent?
In the New York Times best-selling book, “Freakanomics,” authors Steven D. Levitt and Stephen J. Dubner discuss the fact that real estate agents typically market their own homes for 10 days longer than they market their clients’ homes. That’s interesting. Is this because they’re so wrapped up in their business they don’t have time to market their own place. Nope.
Here’s a non-freaky quote from the best selling book: “When an agent is selling his own home, he enjoys the full benefit of any increase in sales price so he is extremely motivated to market for as long as possible to get the best sales price possible. But when it comes to a client’s home, an extra week on the market might lead to a higher sales price for the seller — but the agent will only enjoy a very small amount of that increase in the form of marginal increase to commission. Meanwhile, marketing a home for another week would take him away from marketing someone else’s property. As such, the listing agent is highly motivated to convince the seller that your offer is the best offer he is going to receive. Use this to your advantage and make offers that are good for you.” Thanks guys.
Hush our mouths and not with duct tape; we’ve got a part-two coming, so tune in next week.
Readers digest online www.rd.com/slideshows/13-things
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In today's turbulent real estate markets, property owners, property investors, financial planners, lenders and portfolio and asset managers turn to Michael Hobbs & PahRoo Appraisal & Consultancy for prompt, trustworthy guidance and keen valuation insight into real estate appraisal, both commercial and residential, estate appraisal, real estate valuation, and business consulting designed to create transformational growth and success. Appraise our ability to meet and exceed your needs at www.pahroo.com
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