I must admit that I cringe when I see a fellow Realtor boasting about a home sold in five days over asking.
That is Real Estate Jargon for “I listed your property too low”. Sellers, do not fall for that game! Of course you do not want your property to appear “aged” over three months, but five days! Really?
Will you always be wondering if someone was willing to pay more on day 10? Your property should be in the MLS, on the open market for at least one week before considering offers.
Here is another “trap” to be wary of… Realtor says, “I have a buyer for your house”.
1. There is absolutely nothing wrong with that as long as you are in the MLS for at least one week. “Sold Before Processing” only hurts the seller. Buyer is happy because he got the home he wants with no competition, Realtor is happy to receive the additional commission. Competition, supply and demand insures that properties sell for their true value.
2. Maybe your listing agent offered you a one percent discount off their commission if they “double end”. Hmmm…your property is worth $500,000. A one percent commission savings is $5,000. Maybe another buyer would have paid $20,000 more? Save a penny, lose a dollar.
Please don’t misunderstand; it is absolutely fine for a listing agent to bring a buyer. It is in the seller’s best interest to have the property on the open market- when buyers compete, sellers get more value.
Your home is very likely your most valuable asset. Make sure that you trust your Realtor to put your families’ best interest above all else when selling your house.
JLM Properties Inc. is located at 27201 Tourney Road, Suite 200E in Valencia. For more information, please call 661-510-2112 and visit www.JLMPropertiesInc.com.