Real estate professionals expend so much time, effort, energy, and resources, in their quest to gain listings, they often overlook the next steps! Does your attempt to get homeowners to hire you as their listing agent, lead you, to avoid advising your clients, effectively and thoroughly? How will you be able to provide your clients with a somewhat, realistic perspective, in terms of what their home is actually worth, in the present real estate market? This article will briefly review 5 steps, for managing a home seller’s expectations.
1. Present thoroughly: Quality real estate agents consistently attempt to present the whole picture to their clients! They should observe and respect, my trademarked slogan, I will always tell you what you need to know, not just what you want to hear (TM). This includes thoroughly explaining your reasons for suggesting a particular listing price range, and doing so, to the understanding of your clients. Prepare for possible emotional objections, and be responsive, in a calming, focused, clear – cut manner!
2. The first, few weeks, theory: Studies show, most homes listed for sale, on the market, receive their best offers, in the first few weeks. Therefore, doesn’t it make sense, to attract, the most number of qualified buyers, so there is a higher number of views, and hopefully, quality offers?
3. Listing price versus selling price: How will you explain, thoroughly, there is a significant difference between listing price and selling price? While homeowners may offer their home at whatever prices they desire, only a combination of market conditions, competition, and what a particular buyer might offer, plus the owner’s acceptance of that offer, makes up, what it sells for! However, how one lists his home, often impacts the number of individuals, who might be attracted enough, to view the house!
4. Competition: Your real estate professional owes it to you, to provide you with a quality, well – prepared, CMA (Competitive Market Analysis). When a homeowner better understands his competition, he is better able to determine, where, and how, his house, compares! When this is done, it goes a long way, towards managing the seller’s expectations.
5. Agent/ seller Partnership/ Teamwork: The best results when the agent and the owner, develop a close bond, and work together, to get the best possible results! It must be a partnership, utilizing meaningful teamwork, and focus on the most desirable results.
If a homeowner has realistic expectations, he will avoid over – pricing his home, or constantly seeking a higher offer, than the market might bear! Doesn’t that make sense?