9 COMMON SELLER CONCERNS ALLEVIATED

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As you prepare to sell your home, chances are there will be some concerns you may have which need to be addressed so you can sell with confidence and know you’re working with a well-qualified agent who has your best interests in mind. Listed below are many common seller concerns and how we address them.

 

1. We want to only give you a 30/90 day listing.

Unfortunately, we aren’t able to do that. Six months is the minimum time frame for listing your property through Jared Associates. Instead, we can offer a contract agreement which will still bring you the benefit of surety with your listing. Through our Easy Exit Listing Agreement, you’ll get a 100% service satisfaction guarantee which covers the listing period from day 1 to 180. You can cancel it at any time.

 

2. We were thinking about listing with Company (X).

This is one of the most common misconceptions from a seller – that a company or only its agents will sell their home. A company does not sell a home. It’s the

individual agent’s (or Team’s) activities. The company is merely a tool for the agent and the questions can be is this company a good tool for its agents to succeed but not pivitol. The best question for a seller to ask is, “Do I believe the agent I’m hiring has the most aggressive and comprehensive plan of action?” and “Will this plan of action get my property sold?”

 

3. We’ll save commission by selling it ourselves.

In the post-mortgage meltdown world, sellers are ill-equipped to properly qualify potential buyers (something which we find many traditional old- fashioned agents don’t do well either). The result is a very low closing ratio for contracts even if you’re lucky enough to get an interested buyer. In fact, only 20% of all For Sale by Owners sell themselves and 98% are listed and sold by real estate agents. The question to ask yourself is can you afford to have only a 20% chance of selling your home?

 

4. You haven’t sold homes in our neighborhood area)?

The bottom line is with buyers from all over the DC Metro marketplace, we have a much higher probability of selling every home we list. This is borne out by our successful track record and the fact that buyers rarely come looking for a particular neighborhood or area before buying a home and certainly come from a different neighborhood in most cases. 

 

5. Let’s list high, we can always come down later.

This is the #1 mistake that traditional old-fashioned agents make with sellers and tragically results in almost 50% of the listings in our area NOT SELLING AT ALL!  We certainly understand you would like to list high in order to leave room for negotiating, etc. Have you considered the major problem that this creates for you as a seller?

 

Most people won’t bother to look at a property that is priced too high and will wait for the price to come down. Would you rather have us negotiate multiple offers to get your price or not have an opportunity to negotiate any offers? We find sellers drastically over-estimate the amount of room needed to negotiate.

 

The market average for the most recent six months sales is 95% (list price/sales price). Our average is 98%. Bottom line: Get it priced right up front and you’re rewarded with a higher list/sales price ratio and more money in your pocket at closing. Over-price it, and you risk being rejected by the market and being one of the 50% that never sell.

 

6. We have a Realtor® friend (from church, kids’ soccer, etc.)

We hear this all the time. The key question here is very simple. Do you want to sell your property for the most money in the shortest amount of time with fewest hassles or are you looking to do your friend a favor instead? 

 

7. Another agent said they could get me more money.

We hear this almost every week. Usually, it is said by an inexperienced agent – see #5 above – with very limited transactional experience. Unfortunately, these agents are more excited about the prospect of taking a listing than worrying about getting it sold. Most are afraid to tell the truth and risk upsetting the seller.

 

The rest are unable to figure out the right price for the property due to a lack of experience and expertise. The typical training plan for a traditional old-fashioned real estate office is to take listings – regardless of price. Then work on wearing the sellers out until they agree to lower the price. It’s a shame as this practice is the #1 reason that listings expire after being rejected by the market and never sell, leaving an extremely unhappy seller behind.

 

8. The other agent said he/she would…

This catch-all item usually is the result of an agent not having the courage to tell a seller the truth about why something doesn’t work. Whether it’s telling the truth about why print advertising does NOT result in sales and only promotes a company’s brand or why open houses are simply a source of leads for an agent (especially new, inexperienced agents), we see sellers’ disappointed when they discover the truth. Also, these sellers generally realize that these same agents are very poor at justifying or defending the price of the home for the seller. We have the courage to have direct and truthful conversations with our clients.

 

9. We’ll save commission by going with a discount agent.

There will always be companies and agents looking for a way to be competitive and make money. These commissions will pale in comparison for the service you will receive and the net cost you can achieve for the property. Studies show that slashed commissions on sales goes hand-in-hand with the outcome no matter how disastrous it can become. Selling a home is a large cost to gamble on that comparison. Would you tell your waiter at a restaurant beforehand that you will not tip at all and expect to get a warm meal?

 

When you’re ready to sell or buy a home in the Washington DC Market, you want a Realtor® you can trust, whose experience will help you buy or sell property with confidence. Jared Associates stands ready to help you achieve your home dreams. Give me a call, Jared Russell, at 301-351-7711 (mobile), or 240-383-1350 (office) or email me at jaredr@kw.com. You can also visit me at my website for additional information.