3 Common Mistakes Sellers Make

1. If I pay less commission, I will have more money in my pocket.

This seems logical. Pay less and you get more. However, it is ignoring two simple facts. People like to make more money and Realtors are people. It's like offering the same job to someone for 2 different wages. They will naturally take the higher pay. Realtors do not have to show houses with lesser commissions if they get permission from their buyers. This is also why some Realtors offer bonuses to other Realtors if they sell their listing. Sometimes increasing the commission offered inspires more activity which usually creates a higher sale price and a faster sale.  In our office many times we have taken a listing that did not sell and listed it at the same price but a higher commission and it sells. 

2. If I ask more, I will get more.

This may have been true 30 years ago but it isn't today. Buyers and Realtors can compare your home with all the other homes in their price range with a couple clicks of a mouse. Realtors eliminate homes priced above market value so they will not even get a showing never-mind an offer. 

3. The agent that sells the most properties, sells properties for the most money and has the best chance of selling your home.

Actually how many properties a Realtor sells has nothing to do with how much they sell for or the chances of selling. The market decides what a home will sell for pure and simple. Also, would you rather list with a Realtor that sells 100 properties a year but only 50% of his listings sell or a Realtor that sells 25 properties a year but 75% of his listings sell. This is called a listing to sales ratio. A higher listing to sales ratio means a better chance of selling. There are many things that decide a Realtor's listing to sales ratio, their marketing and advertising campaign, their ability to give you an honest straight forward assessment of your home, and your willingness to accept it, just to name a couple.

How you choose a Realtor should come down to 2 things; how much you trust them and what marketing and advertising are they going to do for their commission. Remember, as most people know, you get what you pay for.

 

 

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