Outside Real Estate Interference
Ask Phyllis: a blog series of frequently asked real estate questions.
Dear Phyllis,
I have my home listed for sale with the agent who sold it to me. My brother is a loan officer and has been very helpful in assisting me in analyzing my home’s value and reviewing offers. First, I had one extremely low offer, which we didn’t respond to. Later, I had another offer, which was close to my bottom line but not close enough that we could reach an agreement. My home has been on the market for three months with just these low offers. My brother believes my home is well-priced. So, I am not sure why our agent can’t get us a decent offer. What are your thoughts?
MC
Dear MC,
How kind of your brother to share his real estate knowledge. However, keep in mind that your Realtor will have the most insight into your particular neighborhood. In addition, your real estate agent likely stays informed about new listings and recent sales. As a result, we can track property values and, most importantly, current market trends.
During a market shift, we may see more professionally staged homes or properties that sellers have carefully updated and refreshed. Furthermore, active real estate agents notice subtle changes in buyer preferences and market conditions because they show homes on a regular basis. Therefore, they often have valuable firsthand knowledge that can help sellers make informed decisions.
Two major factors contribute to selling your home:
Is your Realtor doing everything needed to get your home sold?
1) Are there professional photos?
2) Are print and online marketing in place?
3) Are the marketing remarks in the Multiple Listing Service (MLS) compelling?
Are you doing everything needed to get your home sold?
1) Is your home available for showings with reasonable notice?
2) Is your home clean and in show condition for viewings?
If you and your Realtor have checked all the boxes, then it’s time to discuss price. I think you, your brother and your Realtor should meet and discuss comparables (comps). These are current active listings (your competition) and very recently sold listings. In short, your home is worth only what a buyer is willing to pay.
I wish you the best in selling your home quickly at the highest possible price.
