Last week, I mentioned several things Realtors would like their clients who are selling property to know, including the benefits of choosing simple décor, not keeping secrets, only doing improvements that will provide a return on their investment, and opting to fix big-ticket items rather than reducing the property’s sale price.
Here are a few other items Realtors would love sellers to know.
- A Quick Sale Doesn’t Mean the Property Was Underpriced
Sometimes, a property will sell within 24 hours of going on the market. Sellers feel elated and deflated at the same time. They are thrilled to sell their property so quickly, but disappointed that they may have underpriced it. The fact is, there are a limited number of active buyers at any given time. Each buyer has a unique set of needs, wants, and resources, and it may just be that your property—at market value—was exactly what that buyer needed.
- Be Patient
If a house doesn’t sell in a week, that’s normal! The average time on the market in Ukiah right now is about 90 days. If your house is larger than average or comes with extra land, it may take a bit longer because there are fewer who can afford it. The point is, if your house is on the market, try to be patient.
- Help Me Help You
Selling property is not a spectator sport. For a Realtor to be successful, sellers must keep the property clean and tidy, and they must make the property available to show. If the seller has a dog, Fido should be at the dog sitter’s during open houses and showings. When the Realtor has questions, sellers need to respond with answers in a timely manner. Selling a property is inconvenient, especially for those who must live in the property while it is for sale. It’s no fun to have strangers looking through your closets and opening your pantry, but for those who want to sell their house, there’s just no way around it.
- Your Realtor’s Job is Not to Sell the House—It is to See That the House Sells
Sellers sometimes think their Realtor hasn’t met expectations when some other Realtor finds the buyer. This always seems odd to me, until I realize that many sellers do not understand all the promotional work Realtors do behind the scenes. The reason other Realtors know about the property is because the sellers’ Realtor advertised the property in newspapers, on the radio, in MLS, online, in social media, and with a big shout out during the local MLS meeting. This is just part of what Realtors do for their clients, of course. They also assist with pricing, negotiation, legal questions, disclosures, inspections, contracts, and other issues. If you list your house with a Realtor and it sells within a few months, chances are your Realtor did their job, even if it wasn’t their buyers who signed on the dotted line.
- Don’t Shoot the Messenger
When a Realtor brings a low-ball offer, sellers can get angry with their Realtor. Be aware that Realtors are required by law to present all offers. Sellers can also get testy when Realtors suggest it’s time for a price reduction. Remember, Realtors do not control the market—they respond to it. It is their job to interpret the available data and advise sellers on pricing. It is not to magically enable sellers to sell for more than the property is worth.
Because most people do not spend their professional lives buying and selling houses, they do not always know what to expect from their Realtor, nor do they understand how their actions can have an enormous impact on the success or failure of a real estate transaction.
If you have questions about real estate or property management, contact me at firstname.lastname@example.org or visit www.realtyworldselzer.com. If I use your suggestion in a column, I’ll send you’re a $5.00 gift card to Schat’s Bakery. If you’d like to read previous articles, visit my blog at www.richardselzer.com. Dick Selzer is a real estate broker who has been in the business in Ukiah for more than 40 years.