Monday, June 04, 2012

What Does a Seller Really Want?

 What Does a Seller Really Want?

 To sell their house for the best possible price and keep as much of the sales price as possible.

 One of the first questions that comes up with a  potential client is commission rate. There’s a belief- getting an agent to agree to a lower commission is always good for the seller.

Why agree to a  full commission rate?  After all, if the agent gets less, that means the seller gets more, right? Not necessarily!

What Does a Seller Really Want?

 To sell their house for the best possible price and keep as much of the sales price as possible.

That’s obvious. But how do you get the best possible price? By getting as many agents as possible to show and promote your house. And what makes an agent want to show your house? A well priced house, in good condition and a fair commission.

     (I know the agents reading this don't look at or think this way.)
 
So, if you were an agent with a choice of comparable homes  that were right for your buyerl... and one listing promised you a higher commission, and another substantially less, which one  might you take your buyers to?  Right – the one with the higher commission and which one might you skip if there was limited time?
 
       I repeat.." I know the agents reading this don't look at or think this way."


That makes sense for the Realtor ®, but what about the seller? Here’s a true story that says it all:

Many years ago, a client of mine decided to sell his home without the help of an agent. This is known as a FSBO, For Sale By Owner or an unrepresented seller.
 
His wife wanted me as their agent, but he was determined to do it on his own. Not surprisingly, nothing happened.  After a while with no action, the husband decided to take on an agent, one with a reduced fee.
He bargained hard and got a rock-bottom rate. And again, nothing happened…no sign, no advertising, no calls, and no showings. Finally, as their anniversary approached, his wife put her foot down. Her wish for an anniversary gift  “I want to sell my home with Margaret Rome.”  He had no choice but to hire me!

It actually took longer to list his home than to sell it. He had so many questions but when satisfied with my answers... signed with a bit of reluctance.
 
And then things started to happen. We talked about what they wanted to net out of the property, compared  other houses on the market as well as those sold.  We listed it at a price higher than the low cost agent had, but with a  full  commission.
 
Things started to happen when the house hit the Multiple Listing Service, signage was in place, and  I was making appointments.
 
Within the very first week, we had a full-price contract. The house, that wouldn’t sell as a FSBO or as a reduced service commission, suddenly became attractive to other real estate agents who were pleased to bring a buyer and to receive a fair commission.

Like they say, you really do get what you pay for!
 

What Does a Seller Really Want?

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