Many sellers get their real estate knowledge and experience at a hefty price.
They are so busy earning money that they don’t have the time to research and save money.
These few brief hints, in today’s fast-paced world, may save you several thousand dollars if you are selling today.
Click here to PRINT: 5 Property Tips for Sellers
1. Insist On A Written Quote
When an agent quotes you a likely selling price, get the quote in writing with a clear condition that if your home sells below the price quoted by the agent, you do not have to pay the agent. Sure, if the market price genuinely falls and you believe the agent has made an honest mistake, you can decide whether or not you wish to pay a commission.
However, by insisting on a written quote and a condition on the commission, you are only doing what you would do if you dealt with any other professional person. You would ask two questions of a professional service provider – First, What are you going to do for me? And, second, what are you going to charge (the price)?
2. Don’t Sign Up for Too Long
If you sign up with an agent, put a limit on the time that you are ‘tied’ to that agent. You do not want to be stuck with an agent you don’t like. Generally, 60 days should be a sufficiently long enough period, depending on the time it takes to sell property at present.
Then, if you like the agent, you can extend the agent’s time when the period expires. Putting a time limit on a selling agreement gives you control over the agent, not the other way around.
3. Focus On Today’s Price
Yesterday’s price is gone. Sure, the price you can get today may be less than you could have got yesterday. However, tomorrow the price could be lower than the price you can get today.
Too many sellers today are costing themselves a lot of money because they are holding out for a price that is no longer achievable. The longer you wait, the lower your price can become.
4. Accept The Best Offer
When you are selling a property, you need the best price available in today’s market. Do not confuse the price you want with the best price available.
Unless you are willing to take the BEST offer in today’s market, it may not be worth putting your property on the market for sale.
5. Don’t Pay Or Sign Anything
No matter how tempted you may be or how much pressure is placed upon you, never pay any money to any agent for any reason until your home is sold and you are satisfied. And, be careful that the agent’s selling agreement does not have a fine print clause which requires you to pay advertising expenses if your property is not sold or if you change agents.
Finally, do NOT sign any contracts to sell your property until you speak with your own personally chosen legal adviser.
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