It is OK if you don’t want or need top dollar. Because if you want to offload your house quickly, there are many who will buy it outright, or agents who claim that they will pay you CASH for yours, if you buy their listing. Because they are re-sellers, they will offer you a wholesale price, with their ample future profits built in.
Oh, you DO want top dollar?
First let’s identify the standard operating procedure for realtors in a hot market. A couple of months ago you heard the current president of the association of realtors say on blog talk radio that once he takes a listing, he first offers it to his stable of buyers. If he doesn’t have a taker himself, then he offers it to other agents in his office before inputting it onto the MLS.
The ‘sandbagging’ method is practiced in most real estate offices in America – where management encourages agents to keep sales “in-house” (and usually offers them a better commission split). Have you seen a listing get inputted, then immediately marked ‘pending’, with the only remarks being “sold before processing”?
You have probably seen that virtually every listing inputted today cannot be shown for 5-15 days. Why? Because once on the MLS, the listing gets on all the real estate portals, giving the listing agent a big head-start at finding the buyer themselves and selling it before the open market gets a chance.
How do those sellers know that they got top dollar? They don’t, and won’t.
There is ONLY ONE WAY to know for sure that you got top dollar.
The property needs full exposure to the open market, and when done right, a bidding war ensues.
First you need a realtor who specializes in bidding wars, and if you are in San Diego County, that would be me. Hire Jim the Realtor to sell your house!
This year I’ve had 29 listings sell, and 14 of them were at, or above, list price.
My listings’ overall SP:LP ratio is 99% this year.
Here’s what I do to get you top dollar:
- Put the right price on it – at comps (doesn’t need to be under).
- Advertise on MLS and 90 websites using quality photos and video-tour to get buyers engaged.
- Conduct open house with signs everywhere the day of MLS-listing input, or Day 2.
- Create an auction-like setting by telling the bidders what price they need to beat.
- Be available, make & keep promises, and treat all parties with respect.
While this seems like simple stuff, do you ever see NAR, CAR, any of the big corporate real estate companies or franchises, or any individual realtors talking about the specific details of what they do to ensure top dollar? I don’t, and I’m looking for it. They like keeping it fuzzy and vague.
You see guaranteed-sale programs, ultra-low commission deals, and all sorts of claims about a realtor’s unique expertise. Do you wonder about the specifics, and why there are none mentioned?
Hire me, and you’ll witness a common-sense approach that ensures a top-dollar sale.