Why Do I Need a Real Estate Agent?
Charikleia Stouka, Realtor® at Alma Real Estate, discusses some dos and don’ts when selling, buying or renting property in a real estate Q&A.
I want to sell my house. What is the right price to start with? I am thinking of starting with a higher price to see if there is anyone interested and, then, I will lower the price.
The greatest period of “selling power” for a property is generally when it first appears on the market. Also, today, buyers are very well informed. The time of the initial listing offers the potential of attracting the best—and most—interested buyers in the shortest time. If the property is placed at the correct price, it multiplies the possibilities of attracting a suitable buyer. If it is placed at the wrong price, this tires out potential buyers, who disrespect the property and whose value is then depreciated.
Buyers always want to negotiate. Having overpriced my property, I would have the chance to discount it and then achieve the best price for my real estate.
Overpricing your property is not the best strategy for sellers. You risk creating no interest from possible buyers. You risk that the property will stay for a long time on the market and will lose its value—and your selling price will go well below your initial lowest acceptable level. You risk never succeeding in getting a good selling price and you risk missing opportunities that you would have attracted. Generally you put in danger the whole selling process. In any case, the limits of current market prices shouldn’t be exceeded.
My parents and I have worked very hard in fixing our home, adding personal touches, and still I am working on this house to keep it in good condition.
Sentimental value should not be added to the price of your property. Real improvements of course, a new heating system or a new roof for example, play a role in its price. This is where a real estate professional can advise you according to market dynamics. In some ways, especially with uncertainty, it is better to underprice it. In this way you will immediately find the majority of potential buyers who are then going to bid to obtain your property. So, the price will go up and reach, or overcome, the expected price. You will then know that this is the maximum price for your property. Nobody would give more. Then you decide weather you sell it or not.
Why do I need a real estate agent to sell my property? I can do it on my own as there is more than enough information on the Internet.
It’s a common mistake, in a really successful real estate transaction, to avoid collaboration with an experienced real estate broker. A professional real estate agent will suggest the proper price to sell your house, based on the comparison of similar properties that were sold at that time in your area. Also, she/he will do the necessary negotiations, solve any problem that appears in the process, and keep a cool head. Moreover, she/he is aware of all the changes of regulations involved— and there are many. Avoiding real estate services will likely result in either you losing a lot of money or even the cancellation of the transaction.
TIP! You shouldn’t even appear in front of potential buyers during the sale process and negotiations, for the benefit of the property’s sale. Experience shows that when owners act as their own agents, or interfere in the sale process, 90% of contracts are not signed. The best time to meet the buyers is when the contract has to be signed!
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