Sellers: Common Misconceptions About Your Condo
Myth #1: The Condo Hotline sells a lot of real estate. Perhaps they are too busy to pay attention to my condo listing.
Truth: Just as superior restaurants are busy at dinnertime and superior doctors have a heavy patient load, Condo Hotline’s success in marketing homes has resulted in being busy. Like good restaurants and doctors, we have assembled a top-flight team of specialists to assist with the routine details and free up time to devote the attention YOU require to sell your property successfully. The goal is for you to be another satisfied client who spreads the word about how well you were served.
Myth #2: "Discount brokers can do an adequate job selling real estate."
Truth: Promotional costs such as photos, brochures, ads, MLS inserting fees, guaranteed sale programs, printing, direct mail, directional signs, personal internet websites, etc., are paid by Condo Hotline. Will the discount broker offer a complete market campaign? Does the discount broker have a staff to personally attend to your specific needs? Does s/he have a proven track record of success, or is s/he using the discounted commission to win your business? Does s/he have the expertise to guide you through problems that may develop during the home sale process and offer process? The supply of buyers through your home will be less if marketing is limited, and, unfortunately, discount brokers usually mean limited service. Remember that with Condo Hotline, you only pay a commission if and when your property sells successfully; you owe nothing if we don't get results.
Myth #3: You should select a Realtor who says they can get you the highest price.
Truth: This is the oldest scam in real estate: tell the seller what they want to hear and compliment the home to get the listing. Instead, insist on a written, well-researched, computerized market analysis to determine the realistic amount your home will bear in today's market and price accordingly. Select your Realtor based on their credentials, then decide on price. Never select an agent based solely on the price they recommend! Remember, the market sets the price.
Myth #4: Empty homes don't show as nicely as furnished homes.
Truth: The important consideration is whether or not a home is properly staged, that it is clean, in good repair and available to show. If you must move to your new home before your old home has sold, simply take measures to ensure it shows well empty; repair/replace worn carpeting, and oil all woodwork, wash windows and clean walls. In fact, it will probably appear larger without your furnishings and the buyers can envision their belongings in each room more easily.
Myth #5: Property condition is not important to buyers.
Truth: A property in superior condition will sell faster and for more money than a home in average condition with a lower asking price. Many sellers recognize this and repaint and re-carpet their homes in preparation for selling. These sellers know that home buyers purchase value and will perceive a clean, fresh home as more appealing than an average, lived-in, forgive-the-mess home.
Myth #6: Pricing a home for sale is a mysterious process.
Truth: Your home will sell for whatever the market will bear. To determine the range of value, you simply need to see what similar homes are selling for. Because every home is unique, your home will probably sell for a higher or lower range depending on its condition (See Myth #5 above.) Condo Hotline researched the Multiple Listing Service database to collect information to help you decide where to put the price. It is not an easy process, but it's not mysterious either.