Hiring a real estate agent to sell your home is crucial to your entire experience as a home seller. The agent you select will be involved in many tasks such as; advising you on how to prepare your home for sale, establishing a good list price, marketing your property, negotiating your offer and making sure your file is processed all the way to a successful closing. Selecting the right real estate agent to list and sell your home should not be taken lightly, as your home is one of your most valuable assets!
Listed below are common mistakes home sellers make when selecting a Realtor. Review carefully so you don't fall into these common judgment errors.
"My friend (or family member) sells real estate." Friendship alone isn't enough to establish a professional's credentials. Use tough standards when selecting an agent, just as you would when hiring an attorney, a doctor, or other professional. A true friend will understand and appreciate that this is a business decision, will offer their credentials, and expect to compete for the listing.
"You're the only agent who agrees with my selling price.” Some agents tell you what you want to hear. In the real estate profession, this is known as "buying a listing" and is employed by shortsighted agents who are more interested in themselves than they are in you. However well it works as a short-term "sales tactic" to get your listing, it is an extremely poor strategy to list a home at the highest possible price.
“I’ll tell my real estate agent what price I’ll list at.” Over pricing is the best way to ensure that your home won’t sell. If priced properly, many agents will show your house to their buyers. If you price it too high, no one will show the house and it will sit on the market for some time. When you finally drop your price to reflect its real value, your house is "old news" and buyers may think you are growing desperate. Therefore, the prices you are offered come in lower and lower - and you may find yourself accepting a price below what you could have received had you properly priced it in the first place.
"I don't need references. I'm a good judge of character." Quick judgment isn't good enough. You need to determine if the agent is competent and the best way to do that is to check up on references. Ask for references on recent sales -- check up on references of recent customers. Find out how an agent's customers feel about their selling experience.
"I'm going to list with the agent who has the lowest commission." You get what you pay for. Paying a cut-rate commission will often get you a sign in the front yard and placement in the Multiple Listing Service, but little additional effort from your agent. Realize that agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising costs money, so the lower the commission, the less incentive for an agent to put up their own money to market your home.
"All realtors passed the same test so they must know the same things." The real estate profession is constantly changing and, as mentioned above, the best real estate professionals stay abreast of those changes by continuing their education. Some go beyond the required minimum requirements. Agents who work full-time in the business and have many years of experience are able to serve their clients more knowledgeably and effectively.
"This agent will hold an open house every week." Open houses can and do sell homes, but usually not your home. Only a small fraction of the homes held open are sold as a direct result of the open house. More often, "open houses" are a way that real estate agents "prospect" for potential clients. Good agents know better than to pin all their selling efforts on an open house. They use their time in more effective marketing methods. The most effective marketing is not directly to the public, but to other agents. By getting other agents interested in your home, your listing agent multiplies your sales force beyond just one individual.
"I want an agent who lives in my neighborhood." Knowledge of the local market isn't only acquired by living in the immediate neighborhood. Your agent should have intimate knowledge of recent sales, models, schools, businesses, and so on in your area, but that is easily achieved through extensive research. Convenience shouldn't be the primary reason for choosing an agent. A knowledgeable Realtor is who you should seek out.
"This agent sold more homes last year than anyone else." That should only be the beginning. What is more valuable - an agent who listed 50 homes and sold 35 or an agent who listed twelve homes and sold all twelve? You need to ask further questions - such as; how many of their listings did not sell? How long were the houses on the market? Quantity is important, but only if all of the quality questions have been answered satisfactorily.
Conclusion: Acuity Group's goal is to accurately price and aggressively market your home to ensure that you sell for the highest price, in the least amount of time, and with least amount of stress on you! Acuity Group’s Real Estate Agents are devoted to providing you with a smooth and positive selling experience. From start to finish, Acuity Group is ready and able to guide you to a successful home sale!
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“If you are thinking of buying, selling, renting your home, or leasing real estate this year we’d love to hear from you! Working with experienced professionals can boost your profits!”
Acuity Group Real Estate Professionals
564 Dodge Ave Suite A Elk River MN 55330
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SPECIALTIES: Property Management and Residential Rentals, Listing & Buyer Specialists, golf course properties, water front properties, acreage & hobby farms, condos & townhomes, association maintained properties, senior housing, luxury homes, vacation & secondary housing, CDPE (Certified Distressed Property Expert), Short Sale Specialist and REO sales & Investment property.
Serving the following Minneapolis Cities & Suburbs: Elk River MN, Zimmerman MN, Big Lake MN, Rogers MN, Otsego MN, St. Michael MN, Albertville MN, Princeton MN, Ramsey MN, Anoka MN, Nowthen MN, Monticello MN, Oak Grove MN, Burns Township MN, Champlin MN, Dayton MN, Hassen Township MN, Coon Rapids MN, Blaine MN, Fridley MN, St. Francis MN, Livonia Township, Andover MN, Becker MN, Baldwin Township, Orrock Township, Plymouth MN, Maple Grove MN, Osseo MN.
Serving the following Minnesota Counties: Sherburne, Anoka, Wright, Hennepin and portions of Isanti County