Everyone knows a Realtor and you may even be related to one. But, is knowing a Realtor a good enough reason to hire him or her? Many Realtor’s will present you with a very elaborate marketing plan designed to impress. There is nothing wrong with those marketing plans, but we would also like to be honest with you about the essential elements that will actually sell your house.
The Group 15 Real Estate formula for selling your property at an optimized price is straightforward:
PRICE + CONDITION + EXPERTISE = SUCCESS!
Most real estate agents fall into one of two traps. Many agents suggest a higher than market value price because they can tell it is what the seller may want to hear and will help them secure the listing. They do this knowing that very soon after the listing they are going to suggest lowering the price because they know it is priced too high and will not sell at that initial price. This results in longer list times which will scare some buyers away who are worried why the house has been listed so long without selling. It also keeps away potential buyers who would have made an offer if the house were priced correctly. And it frustrates and disappoints the seller. You will often find this from an agent who is very hungry and desperate to earn whatever business he or she can.
The second trap an agent falls into is trying to get the seller to simply agree to the lowest price possible to guarantee that the house will sell as fast as possible and the agent will earn their commission rather simply. Agents who are very busy and do not want to spend a lot of time with any one particular client will often want this strategy to keep their high volume going.
The Group 15 Way: Group 15 Realtors pride themselves on presenting honest and straightforward market data on the price of your house. We let the numbers speak for themselves and suggest a range that the market is seeming to bear. The lower end of our range would attract a broader base of buyers and should likely result in a quicker sale. The higher end of the range would be targeted to a smaller base of buyers that particularly value the unique features your property has to offer but would likely result in a longer sale time. We advise on the correct price in that range, based on your particular goals and objectives with the sale.
Most agents approach every property with a one size fits all solution with the same advice on getting the property ready to market.
The Group 15 Way: There are basically two types of buyers. The first buyer is looking for a move-in condition home where they will not need to do anything other than add their own personal tastes and they are willing to pay a fair price for the house. The second buyer is looking for a house that may need some work or updates and gives them an opportunity to add value after their purchase and they are looking to get a “good deal”. With this in mind, we ask our sellers to consider which buyer they are trying to attract to buy their property and develop the appropriate marketing strategy from that starting point. This gives us a framework to consider which repairs or upgrades make sense, what price makes sense and which pictures and marketing avenues make sense. With this nuanced strategy we are able to optimize both the seller’s profit and time on market.
Most agents expect to add value and expertise in getting a buyer to the table.
The Group 15 Way: At Group 15 Real Estate, we believe that once we have helped you accurately price your property and present it in the correct condition for your target buyer, that the house sells itself. There is no secret sauce or magic potion to get a buyer to the table other than price and condition. Getting a buyer to the table is actually the easy part.
The real expertise that Group 15 agents offer is not simply getting the buyer to the table, but navigating from contract to closing. This involves an expert understanding of North Carolina and South Carolina real estate contracts, including due diligence fee, due diligence period, earnest money deposit as well as an expert understanding of appraisals, home inspections and surveys. We understand how to optimize all of these aspects of the contract negotiations and process to maximize your profit and to ensure the highest certainty of getting the buyer to the closing table.
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