Realtor & Real Estate Myths
Why are we telling you about these myths? Because ‘we’ Diane and Jennifer feel you have a right to know everything there is about the real estate market and process and hope that our honesty and openness to you, along with our professionalism, local knowledge and market expertise will make you feel comfortable listing your property with us.
1. MYTH: Super Agent sells a lot of real estate. Perhaps Super Agent is too busy to pay attention to our listing.
TRUTH: Just as great restaurants are always busy and superior doctors have a heavy patient load, Super Agent’s success in marketing and selling homes has resulted in a busy schedule. But like good restaurants and doctors, Super Agent has assembled a team of top-notch people to assist with all of the details. The result is outstanding customer service and support. The long list of satisfied clients speaks for itself.
2. MYTH: Random Agent tells you that you have to list your property for a specific length of time.
TRUTH: Just like everything else in real estate you have the right to take a listing for as long as you want. Some real estate boards do a minimum length of time and Super Agent may have a reason for a longer listing, such as saving on paperwork or administrative costs, etc. But you have a right to know and discuss the listing contract term.
3. MYTH: A "discount" broker can do just as well and save you money.
TRUTH: Successfully marketing a property in the competitive marketplace takes skill and resources. All of the promotional costs such as photos, brochures, printing, signs, advertisements, MLS fees, direct mail, newspapers, TV ads, billboards, websites etc. are paid for by Super Agent. How will a discount broker offer such a complete marketing campaign? Does the discount broker have a staff to personally tend to your specific needs? Do they have a proven track record of success, or are they just using the lower commission to try to win your business? Do they have the expertise to guide you through the problems that often develop during the closing process? Remember that you only actually pay a commission if and when your property sells. Many sellers have found that their commission with a discount broker was really zero, because their property never sold!
4. MYTH: We should select the agent that suggests the highest list price.
TRUTH: This is the oldest scam in real estate sales: Tell the seller what they want to hear, compliment the home, and agree to list it at an unrealistically high price just to get the listing. Then, after you have the listing for a few weeks, start telling the seller that they need to reduce the price.
Super Agent doesn’t play any games. Super Agent provides a well researched computerized market analysis to determine the true realistic price that your home will bear in today’s marketplace. The decision of which agent to list with and what price to ask are two completely separate decisions. Select your agent based on their credentials and track record, and then decide on price.
NEVER SELECT AN AGENT SOLELY ON THE PRICE THEY SUGGEST!
5. MYTH: Random Agent tells you that they have a buyer right now just waiting to buy your property and that you should list it with them.
TRUTH: Not so. If that was the case the Random Agent would have just asked for a Fee Agreement instead of a listing. This is a tactic to just get you to list your property with a Realtor who is struggling in the area and trying to acquire more listings.
6. MYTH: Property condition is not that important to buyers.
TRUTH: WRONG! A property in superior condition will sell faster and for a higher price than a home in average condition. Buyers purchase properties that are most appealing, and a home in great condition with a reasonable asking price always tops the list. Sellers that invest in necessary repairs and keep their home clean, tidy and fresh always reap the rewards!
7. MYTH: Empty homes are harder to sell than occupied homes.
TRUTH: Vacant homes often sell faster for several reasons, but again it all depends on condition. A vacant home that is clean, in good repair, and priced fairly will usually sell fast because the rooms will appear larger without furniture and clutter, buyers can easily visualize their furnishings in the home, and most agents prefer to show vacant homes because they can go anytime without worrying about making appointments, etc.
8. MYTH: Pricing a home for sale is a difficult process.
TRUTH: Your home will sell for what the market will bear. To determine the range of value for your home, it takes a solid knowledge of the market. And because every home is unique, your home will sell more near the high or low end of the range depending on its specific attributes like location and condition. Super Agent utilizes a computer database along with years of local sales experience to help you decide where to set the price. It is not simple, but it isn't difficult either.
9. MYTH: Days-On-Market (DOM) Tells You Important Information About a Property.
TRUTH: People often make assumptions about a property based on the number of days it's been on the market (DOM). But the number alone doesn't provide enough information to make a judgment call on a property. In fact, a common real estate trick is to game the DOM so that it tells prospective customers exactly what they want to hear: that the property is fresh on the market.
Reacting to the DOM is an instinctive reflex, but basing any real estate decision purely on assumptions about the DOM is an invitation to be gamed and a way to miss out on properties others may not have had a vision for.
Remember … In real estate, just as it is in life; not all things are created equal.
It is interesting to note that a discount broker does not have a dominant market share in any major city in the country.
10. MYTH: All agents work the same.
TRUTH: Just as some doctors, lawyers, and teachers have varying degrees of education, experience, and skills, so it is true with Realtors. Biernaskie & Brock have the Education and designations, the skill, and the experience to guide you through the process. Chances are the other side will be well represented, so why not choose the Best local agents to represent you? It’s not leveling the playing field; it’s tilting it to your side when you hire The B&B Team.