Money Saving Tips

Meeting With Realtors

So you’ve decided to sell your home and have a fairly good idea of what you think it is worth. Being a sensible home seller, you schedule appointments with three local listing agents who’ve been hanging stuff on your front doorknob for years. Each Realtor comes prepared with a Competitive Market Analysis (CMA) on fancy paper and they each recommend a specific sales price.

Some Realtors may have come up with prices that is lower than you expected. Although they back up their recommendations with recent sales data of similar homes, you remain convinced your house is worth more. When you interview the third agent’s figures, they are much more in line with your own anticipated value, or maybe even higher. Suddenly, you are a happy and excited home seller, already counting the money.

Which Realtor Do You Choose?

If you’re like many people, you might pick Realtor number three. This is an agent who seems willing to listen to your input and work with you. This is an agent that cares about putting the most money in your pocket. This is an agent that is willing to start out at your price and if you need to drop the price later, you can easily do that, right?

The truth is that you may have just met an agent engaging in a questionable sales practice called ‘buying a listing.’ The agent ‘bought’ the listing by suggesting you might be able to get a higher sales price than the other agents recommended. Most likely, s/he is quite doubtful that your home will actually sell at that price. The intention from the beginning was to eventually talk you into lowering the price.

Why do agents buy listings? There are two reasons. A well-meaning and hard working agent can feel pressure from a homeowner who has an inflated perception of his home’s value. On the other hand, there are some agents who engage in this sales practice routinely.

What Happens Behind the Scenes

Whichever the case, if you start out with too high a price on your home, you may have just added to your stress level, and selling a home is stressful enough. There will be a lot of behind the scenes action taking place that you don’t know about.

Contrary to popular opinion, the listing agent does not usually attempt to sell your home to a home buyer. That isn’t very efficient. Some listing agents market and promote your home to the hordes of other local agents who do work with home buyers, dramatically increasing your sales force. During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients.

If the price is right…

If you and your agent have overpriced, fewer agents will preview your home. After all, they are Realtors, and it is their job to know local market conditions and home values. If your house is dramatically above market price, why waste their time? Their time is better spent previewing homes that are priced realistically.

Dropping Your Price

Later, when you drop your price, your house is old news. You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take much longer to sell.

Even if you do successfully sell at an above market price, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise well. Your deal may fall apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen. Your house could go back on the market.

Once your home has fallen out of escrow or sits on the market awhile, it is much harder to get a good offer. Potential buyers will think you might be getting desperate, so they will make lower offers. By overpricing your home in the beginning, you could actually end up settling for a lower price than you would have received with an experienced listing agent.

Why Go With Keller Williams?

When you choose a Cutler Properties Sales Associate to sell your home or help you purchase a new home, you’ll experience a whole new level of service. First, our Associates are the experts. We all make a living in the same communities where we live. They’re the people next door, or just down the block. Consummate professionals, Cutler Properties Associates on average lead agents of competing brands in advanced real estate education and production. That’s why they’re known as Real Estate Leaders and why no one in the world sells more real estate than Keller Williams.

Customer Satisfaction
The proof of quality service is in repeat customers and in customers who refer Keller Williams to their friends. Our Sales Associates average 70 percent of their business from repeats and referrals, while other agents average about 30 percent from those sources.

Education
All KW Associates lead the other agents of competing brands in professional designations, which denote specialized training and education. They dominate the Accredited Buyer Representative (ABR), Certified Relocation Professional (CRP), Certified Residential Specialist (CRS) and Leadership Training Graduate (LTG) ranks.

For All You’re Worth
On average, Keller Williams brokers sell more real estate than other agents. They are better qualified to set the right price for the homes they list, are better equipped to market those homes, and are likely to find a buyer in a shorter period of time. That experience and education also means they are better qualified to find the right home for any buyer.

Competitive Advantage
The real estate network that has the most competitive advantages to offer both home buyers and sellers will be an industry leader, and Keller Williams is that network. No one in the world sells more real estate than Keller Williams. When you look for the highest quality real estate service, look to a Cutler Properties Associate.

Advertising
On average, a Keller Williams Associate spends about $10,000 each year on personal promotion and on individual and group advertising. Personal advertising plus national television advertising and Internet exposure generates the highest number of prospects in the industry.

Network Size
The revolutionary Gary Keller Concept of enabling real estate professionals to maximize their business potential has evolved into an organization of more than 110,000 Sales Associates in more than 700 offices in more than a dozen countries worldwide.

Main Street. Not Wall Street.
Being locally owned and operated, Keller Williams offices are staffed with professionals who live in the area they work in. Thus, committed to their local community, they have a deep personal interest in the customers they serve.

Home of the Best Agents
In a business environment of mergers and acquisitions, we are the major real estate network that has independently owned and operated offices. Its founders Joe Williams and Gary Keller continue to expand globally. The excellence of KW Broker/Owners and Sales Associates has led to an ever-increasing number of accolades from the business community at large. The company has grown exponentially since the opening of the first Keller Williams Realty office in 1983, and continues to cultivate an agent-centric, education-based, technology-driven culture that rewards associates as stakeholders. The company also provides specialized agents in luxury homes and commercial real estate properties.

More Than 33 Years of Excellence
Keller Williams – now an established industry leader – celebrated its 33rd anniversary in 2016 and looks ahead to even greater real estate achievement in the years ahead!