Two major mistakes homeowners make when it comes to hiring an agent for their listing are: They base their decision on the house’s highest price and the lowest commission.
The seller might initially say, “Are you crazy?” Sellers will often want to get the best price and the lowest commission. These criteria are not relevant to hiring a competent and reliable listing agent. They are often completely irrelevant in many cases. Let’s discuss why.
Highest Suggested List Price
Myrtle Beach Real Estate agents can’t tell you how much your home is worth. This is a mistake. Listing agents can provide you with comparable and pending sales as well as active sales. You can choose the sale price, and buyers will let you know if it is fair. An agent will recommend the price range that is most likely to attract buyers. The buyer will decide what happens next.
Agents can distort the truth to get the listing. Because real estate agents cannot guarantee sales prices, it is possible for a listing agent to recommend the highest price. Ask the agent for supporting numbers to support their suggested listing price. If the agent doesn’t have stats or the sales were in a different area, it may be a red flag.
Look for a listing agent that can provide a price range. The spread may be higher or smaller than the $10,000 difference between the high-end and the low-end. The range is determined by many factors, including market temperature and improvements to the home.
Pricing is an art form. The best time to make an offer is typically within the first 30 business days of it being on the market. The ideal time is 21 days. It will be easier for you to receive an offer if your home is correctly priced. If it is priced too high, buyers won’t be interested in your home. You will end up lowering its price and leaving them wondering if there are any problems with the house.
Choose an agent based on commissions
Each real estate agent is different. Each agent has their own strengths and weaknesses. Remember that only 10% of agents will manage 90% of the business. Each agent has its own marketing budget and techniques. You will be more likely to get a deal if you choose an agent who has a large advertising budget and can use company dollars to complement it. You will be more likely to get an offer if you can reach multiple buyers.
Why would an agent work harder than their competitors? A broker or real estate agent may discount a fee for a number of reasons. Sometimes, it’s the only way a real estate agent can compete in today’s highly competitive market. Without it, the agent won’t be able to stand out among the rest of the competition in terms of knowledge, service or negotiation skills. If the only benefit an agent offers you is a low fee, then you should ask why. Is he desperate to get your business? Are they unqualified? Do you want to work with a desperate agent?
Sometimes full-service agents can negotiate a lower commission in certain circumstances, such as:
If you are selling and buying a house simultaneously, both transactions will be handled by one agent. Although I don’t offer discounts like this, there are agents who do.
You’re willing to do the marketing and advertising work, as well as pay for all expenses associated with the sale.
Agents would prefer the signage and overcharge a full commission.
If you’re interviewing agents that offer similar services but are unable to decide between them, ask if they can show you their track record. This includes the original list prices and final sales numbers. You will find that the lowest-paid agent will offer you more price cuts and longer DOM. The difference in charges between agents who charge 6& and 5% is only 1%. Consider how you would fare if your house is sold by a lower-cost agent who can’t afford to market it actively.
Marketing Agents is Important
Marketing is the only way to make a listing agent a success. Because marketing helps them sell houses. Make sure to read every page of the agent’s marketing plan. What is the agent looking to accomplish in selling your home? These are some of the most important:
Lock box, Electronic tracking daily of lock box access, Professional signage that includes the number of the agent, Incentive for broker previews, Staging advice, Virtual tour, Targeted digital marketing, Distribution to Websites, Flyers for buyers, Four color flyers, and Open houses.
Remember that there is no one strategy that sells homes. You will always need to use a combination of these strategies to market your home.
A Good Listing Agent
Your listing agent will establish a special business relationship for at least one month. Choose an agent that you like, and someone you feel comfortable with. These are some of the traits that sellers expect from their agent: Experience, Education, Honesty, Networking, Negotiation skills, and be a Good communicator.
Ask for a personal guarantee. Do not hire an agent if they do not promise performance or will remove you from a listing.
Call Full Potential Real Estate, LLC if you want to work with a professional, reliable, and competitive listing agent.
Full Potential Real Estate, LLC
Myrtle Beach, SC 29577