If you read my newsletter monthly then you probably caught onto a small announcement about a book I have coming out this summer. My book is an unfiltered look at listing and selling real estate. Here is a sneak peek at some of the content from Chapter 3: The 15 Biggest Myths in Listing Real Estate.
• Myth 1: The listing agreement is for one year. In the book, I clearly explain how this is completely false and a term contrived by the agent. A fair agreement should have a “fire me at any time” clause. Do you get a year to perform poorly on your job? Neither should a listing agent.
• Myth 4: Sellers determine the price. Sellers may determine the list price BUT buyers determine the value. The distance between the two figures often depends on the thorough research by the listing agent. Many times sellers simply overprice because the listing agent didn’t provide accurate counsel about pricing the home.
• Myth 6: The Neighborhood Expert. A lot of agents have made a good bit of money slinging this one around. If an agent lives in a specific community, they are blessed to know the neighbors, but they may not be so blessed with some other skills which can come in handy like market knowledge, trained negotiation skills, and a marketing plan. A very good agent can sell in any neighborhood.
• Myth 13: You won’t get your money back on repairs. I hear the same objections all the time; “they are going to paint the place anyway”, “give them a credit for the flooring,” or my favorite “it’s as-is for that price.” Before we listed and sold our home, I put a new roof on our home and replaced our rear deck. I did it because I knew it would help sell my home. I hated putting out that money but it was necessary to compete in today’s market conditions and we got full price in a week. Sometimes repairs are necessary for the sake of getting selected.