Salt Lake City Real Estate Tips
Salt Lake City Real Estate Tips
Salt Lake City Real Estate Tips, in fact any City or Town Real Estate Tips. In other words, don't kid a kidder.
OK, i get it, you want the best for you as you should. I also get that you are trying to make a wise decision. Yesterday I was approached in a restaurant by a strange who heard my conversation and realized I was a REALTOR®. It turns out that he was on his way to fire his real estate agent. This implies that he wasn't happy with the results he was getting and wanted a new agent. This also implies that his home has been on the market for a longer time than he expected.
It is often the fact that the longer the home is on the market the lower the price you will obtain. So, do it right in the beginning. Here are some tips to get it right.
I will briefly explain these tips. Please contact me if you want further explanations. I may not work you market, but within MediaOne Real Estate there is likely an agent we can refer you to.
1- Don't pick the first agent you hear about. Not all agents are created equal. The National Association of REALTORS® publishes statistics that suggest the majority of home sellers list their home with the first agent they speak with. Many only talk to one agent. This is not a wise policy.
2- The big time producer may not be your best agent. OK, they claim to be number one. Is that because they are good at selling themselves? Your goal should be to sell your home, as their goal should be too. Selling themselves and selling your home are two different issues. Our daughter, in another market, was damaged seriously by the number one agents actions, or actually lack of actions. The reason, number one was too busy selling number one than to watch the details of our daughters transaction.
3- Be careful about pricing your home. It's a good thing that the agent understands what price you think your home is worth. It's a bad thing if you over price what your home is worth. Why over price it, it just costs you time. Likewise, you should be given the facts and study those facts on what your home is worth. It pays to have your agent take you to the homes that compete against yours. Being educated is a good thing.
4- Don't fall for cliche's. There are a few of these I enjoy dispelling. For example: Open houses don't work or open houses only find me buyers. That is just plain hogwash. Agents that don't believe in open houses just don't know how to make them work. They often don't know how to get people into the open house. This is a serious mistake too many agents make and try to sell sellers on. Another is that newspaper advertising doesn't sell homes. I'd love to have time to challenge any agent that claims this. Of course it works. That is why I am at MediaOne. I can select any company I want to hang m license with. They all want me. I only want MediaOne.
5- Pick A REALTOR® What do I mean by this statement? Aren't all agents In Salt Lake City, Utah REALTORS®? Nope. All could be licensed with the State of Utah, yet not a member of the MLS, which in Utah means they aren't a REALTOR®. Not only does a non REALTOR® not have access to the MLS, he or she will not be subject to the rules of ethics and proper behavior. They don't have access to the thousands of agents that could sell your home. It'is a pretty big price you pay by picking the local good guy who chooses to avoid the MLS and REALTOR® association.
6- Pick a full time REALTOR® Too much is a stake in selling your home to lock in to a part timer. Many licensed aren't really in the business. former broker of mine, in Seattle, told me yesterday that half of his licensed agents made no sales last year. You are wise to avoid these part timers.
7- Delve into the details Make the effort to understand the market. Make the effort to understand the marketing plan of your prospective real estate agent. All marketing plans are not created equal.
8- Pay the price Pay the price to be realistic. For example, some price ranges in Salt Lake City real estate take months to sell. Don't list for a short time if these are the facts. Pay the price of picking an agent that will market to the max for you but in return pay the price of listing for long enough that that agent can attract the right buyer to your home. Be patient when patience is the right thing.
9- Be demanding Expect to be provided what you are promised. Demand a 30 day escape clause in your listing. You can tell after 30 days if you have tied into a slacker. Any agent hat refuses this should not be hired. At the same time, respect if that agent is spending a lot of money and time working your listing. Have a list of what your agent has promised. Did he or she promise you would be a Showcase Listing in REALTOR.Com? Make them prove they did that, it is costly.
10- Be willing to listen to facts Some of those facts I have already addressed. Here is an example of another. Some believe that a new listing has a better chance of selling. If you take the home off the market for 90 days and then put it on the market it will show up as a new listing. The is a Wasatch MLS rule. The fact is that if this is your strategy, it is a bad strategy. It's gaming the system to your own detriment. All of the marketing your agent did is gone to waste if you do this.
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