When representing sellers in Las Vegas, there are unique skills that must be developed to get the most out of a sale. Negotiations come naturally to me, and this is the #1 skill a realtor needs in order to get the most out of a sale. Sticking to what my clients want to get out of the sale of a property is strongly prioritized. After all, my clients deserve the best price they can possibly get in today's market, and with the true value of improvements done on their homes.
How To Get The Most Money
From The Sale Of Your Home
Every homeowner wants to make sure they maximize their financial reward when selling their
home. But how do you guarantee that you receive maximum value for your house? Here are two
keys to ensure that you get the highest price possible.
1. Price it a LITTLE LOW
This may seem counterintuitive. However, let’s look at this concept for a moment. Many
homeowners think that pricing their home a little OVER market value will leave the room for
negotiation. In actuality, this just dramatically lessens the demand for your house
Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that
demand for the home is maximized. In doing this, the seller will not be fighting with a buyer over the
price but instead will have multiple buyers fighting with each other over the house.
Realtor.com recently gave this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly
informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly
underpriced, especially in areas with low inventory.”
2. Use a Real Estate Professional
This, too, may seem counterintuitive. The seller may think they would make more money if they
didn’t have to pay a real estate commission. With this being said, studies have shown that homes
typically sell for more money when handled by a real estate professional.
A new study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some
cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The
data showed that:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the
average differential represented by the prevailing commission rate.”
The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties are about 5.5%. Sales in 2017 suggest the average price was near 6%
lower for FSBO sales of similar properties.
Bottom Line
Price your house at or slightly below the current market value and hire a professional. That will
guarantee you maximize the price you get for your house.
The Role Access Plays In Getting Your House Sold!
So you’ve decided to sell your house. You’ve hired a real estate professional to help you with the
entire process and they have asked you what level of access you want to provide to potential
buyers.
There are four elements to a quality listing. At the top of the list is Access, followed by Condition,
Financing and Price. There are many levels of access that you could provide to your agent to be able
to show your home.
Here are five levels of access that you could provide to a buyer with a brief description:
• Lockbox on the Door – This allows buyers the ability to see the home as soon as they are aware
of the listing, or at their convenience.
• Providing a Key to the Home – Although the buyer’s agent may need to stop by an office to
pick up the key, there is little delay in being able to show the home.
• Open Access with a Phone Call – The seller allows showing with just a phone call’s notice.
• By Appointment Only (example: 48 Hour Notice) – Many out-of-town/state buyers and
relocation buyers visit an area they would like to move to and only have the weekend to view
homes. They may not be able to plan that far in advance or may be unable to wait the 48 hours
to be shown the house.
• Limited Access (example: the home is only available on Mondays or Tuesdays at 2 pm or for
only a couple of hours a day) – This is the most difficult way to be able to show your house to
potential buyers.
In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.
The Importance Of Using An Agent When
Selling Your Home
When a homeowner decides to sell their house, they obviously want the best possible price with
the least amount of hassles. However, for the vast majority of sellers, the most important result is to
actually get the home sold.
In order to accomplish all three goals, a seller should realize the importance of using a real estate
professional. We realize that technology has changed the purchaser’s behavior during the home
buying process. According to the National Association of Realtors’ latest Profile of Home Buyers &
Sellers, the percentage of buyers who used the internet in their home search increased to 94%.
However, the report also revealed that 96% of buyers that used the internet when searching for
a home purchased their home through either a real estate agent/broker or from a builder or
builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.
Buyers search for a home online, but then depend on an agent to find the home they will buy (50%),
to negotiate the terms of the sale (47%) and price (36%), or to help understand the process (61%).
The plethora of information now available has resulted in an increase in the percentage of buyers
that reach out to real estate professionals to “connect the dots.” This is obvious as the percentage of
overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.
Bottom Line
If you are thinking of selling your home, don’t underestimate the role that a real estate professional
can play in the process.
You have many agents from which to choose. Pick someone who truly cares.