Yesterday I offered a few points of guidance for folks considering the prospect of selling their home - and how to select the right REALTOR® for the job. As I indicated, I believe one of the greatest contributions a REALTOR® can make to sellers in our current, local market (in addition to providing far more effective marketing than most individuals are capable of generating) is the ability to be involved with buyers and help to educate today's buyers on fair value in today's market. Let me clarify with the following illustration:
I'm out shopping and a friend approaches with this almost pained expression on his face. My first thought is, 'Who died?!' As they step towards me they typically say, 'So, Jon, how are you doing?' and then proceed to give me an extended pat on the shoulder. I feel like I'm being comforted at the funeral of a loved one. Then they conitinue with, 'Boy, this real estate business must be really, really, REALLY bad, huh?' Another shoulder squeeze.
Here comes the part I love. I say, 'Actually, the market is very active and I couldn't be happier!' At this point most people give me this drop-jaw gasp like they were just splattered with fallout from a goose 'passing' overhead. I am finding a big part of my job in the current real estate market has been educating people so they have the information necessary to establish more realisitc perceptions and expectations. This applies to buyers as well as sellers.
Now I'm not suggesting the national real estate market hasn't gone through some downward adjustment over the last year. It has and it is a fact. And, sadly, a lot of people have been adversely effected. What I am saying is the local market has not been nearly so impacted. Unfortunately, people read and hear the national news headlines and, on first impression, could be lead to believe local properties can be purchased for pennies on the dollar. This is not true. Most local property owners have been fortunate.
For sellers serious about selling there are only a couple of questions: First, are you going to sell, or are you going to stay in your current home? Second, if you need to sell, what will you do if your property has not sold in three months - or six months - or a year? If you know you need to sell in a certain time-frame, you need to be using the services of a real estate professional - a REALTOR®. But not just any REALTOR®; you need a proactive REALTOR® that has a realistic understanding of local property values and a solid web-based marketing strategy!
Here is another factor for sellers to consider: Today's buyers have access to more real estate marketing information then ever before - and many have done their homework. Bargain shoppers aside, today's serious buyers are comparing the value of properties on the internet long before they are speaking with a real estate sales agent. The properties that are selling first are the properties that are properly priced - and effectively marketed. If a property is priced too high, or if a property's best features are not adequately presented, the sales effort will be compromised.
In a nutshell my guidance in today's post for those selling real estate in today's market is as follows: Using a REALTOR® is a smart move. REALTORS® are in the best position to educate buying prospects on the value of local properties. This can spare sellers from the misery of dealing directly with bargain hunters. In addition, as I stated yesterday, a well-positioned, web-based marketing campaign brings the greatest number of serious buyers and, and more importantly, serious offers.
Tomorrow I am going to share a few thoughts that should be helpful to prospective buyers. See you then!
Jon
http://www.searchfergusfalls.com/
http://www.fergusfallsproperties.com/
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