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A. When your home is listed with a broker/agent they have a fiduciary obligation to represent your best interest. The primary goal of a broker/agent is to get the largest amount of money for your home in the shortest amount of time. Ultimately, it doesn’t matter how large or small the commission is, what counts is the total amount received by the seller at closing.
(Q) What should I look for in an agent to acquire the largest net dollar amount for me?
A. There are more than 1.1 million realtors in America, and there could be 1.1 million different ways to sell a house. But the truth is, there are only two ways to sell a house: selling by price and selling by traffic. Every other sales method is a subsidiary of these two.
(Q) What is the price approach?
A. Your agent will gather information and data through the MLS and build a comparative market analysis. Through this process, a reasonable value of range will be determined. Your agent will suggest listing your home at the low end of that range. In a hot market, when inventory is low, your home will likely sell in no time. As the market cools there are a higher inventory of homes which take longer to sell. Your agent will suggest a reduction in price, then if the property still has not sold, they will continue to lower the price until eventually a buyer is found for your home. If your home is being sold by price, the agent is using price as a marketing tool.
Another reason this approach works so well is because it places the entire burden of selling the home on the seller. Also, the agent does not have to spend a lot of money, time and effort in devising a marketing plan because the price does the selling for them.
(Q) How can I get top dollar for my home using the price approach?
A. The job of a listing agent is to represent the seller’s best interest, which includes getting absolute top dollar for the property. However, most agents do not get top dollar when using the price approach. When there are fewer buyers competing for a home, the sales price may need to be discounted substantially to attract interest. With fixed supply and scarce demand, prices drop.
(Q) What other drawbacks are associated with the price approach?
A. Several months may pass before the price approach begins to have an effect. In the process, the home often becomes “shop worn”. After several reductions, it is not even shown to potential buyers because it has been on the market “too long” and is now assumed to have something wrong with it. If the agent starts the process with too high of an asking price, then waits too long to reduce the price, the home becomes very difficult to sell at any price.
(Q) How do I set my home apart from the competition?
A. We have developed an exclusive system that will change the way real estate is bought and sold and it uses a method called the traffic approach.
(Q) How does the traffic approach work?
A. First, you need incentives to create a high volume of traffic to your home. The automobile industry has been using incentives for years, i.e. low lease payments, 0% financing, rebates, etc… Incentives create traffic, traffic creates buyers and buyers create more offers. Our exclusive Home Rebate will open your home to a larger pool of buyers.
For specific information on the Home Rebate System call or email us and we will be happy to assist you.
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