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Your Professional Realtor of Choice  -  Dwight Puntigan  -   dpuntiga@charter.net                              636-219-6242


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7 ADVANTAGES OF LISTING WITH A REALTOR

1. Your time is valuable! Let me save you TIME!  Selling a house is a full time job.  You could go through the property tax records to verify your neighbors sale price date and the county's valuation.  You can adjust that price to fit your configuration and size taking into account the amenities of your home.  You really could do the research and come up with good numbers. 

2. I'm likely to sell your home for MORE MONEY due to the greater exposure I offer (many sellers even NET more after our fee)!  If you really want to sell your property quickly you will try to price it at about 80% of market if you have the equity to afford that.  Thus you will have an edge on the market pricing.  People that look to buy from a For Sale By Owner are looking to save commission and buy below market.

3. A 3rd party(Realtor) can obtain the prospect's TRUE OPINIONS of your home and relay those comments to you!  Follow up comments are an industry standard of courtesy.  

4. You'll know the buyer is a QUALIFIED one, not just a looker!  Normally a buyers agent will make sure his client is pre approved before taking him to a site.  This is so that if it is the right property they know an offer can be made showing a source of funds.

5. You don't need to personally open up your home to STRANGERS!  Agents discourage too large of an entourage that they will not be able to keep an eye on.  This also goes for children that the parents do not control.

6. You can SAVE YOUR MONEY by not having to advertise your own home!  If time is money this is true.  Newspaper ads are seldom used.  Wall Street Journal ads do get used for those types of property.  Most advertisement is internet based including emails to target groups.

7. You can be professionally represented by someone that can be held ACCOUNTABLE for all the details!  Hire me as the sellers agent and it becomes my job, if I am going to earn the commission.  Before I list we define who the buyer will be.  What is he looking for that the property has to offer.  Where do we find such a buyer and what is going to attract him?

If you decide to sell your own home.  Good for you, and the best to you.  However, if you truly are going to do it, allow me to provide a little support, and in return refer buyers to me that you know are not suitable for your house.

 

A QUALITY REAL ESTATE REPRESENTATIVE DOESN'T COST...IT PAYS!!!

A few wrong reasons for over pricing are:

 

  1. To gain excessive negotiating room.
  2. Attempting to regain the cost of improvements.
  3. Seller’s monetary needs.
  4. Misreading the market.
  5. There are more.

 

You need to recognize the symptoms of over pricing which are:

  1. Lack of traffic going through your home.
  2. Other homes listed in the area are selling while yours is not.
  3. Buyers are asking why your house has been on the market for so long.
  4. You as the seller are getting anxious and losing patience.
  5. As the clock runs and you are ready to sell for less than it is worth.

 

These are the items to examine so that the sale completes during the listing period:

  1. Timing
  2. Pricing
  3. Exposure
  4. Condition
  5. Accessibility
  6. Market or external conditions

Price Your House Right

The single most important factor to consider when selling a house is the home price tag: how much your house is worth. You don't want to overprice the house because you will lose the freshness of the home's appeal after the first two to three weeks of showings. After 21 days, demand and interest wane. On the other hand, don't worry about pricing it too low because homes priced below market value often will receive multiple offers, which will then drive up the price to market. Pricing is all about supply and demand. It's part art and part science, and no two agents price property the same way.

Pull Comparable Listings and Sales

  • Look at every similar home that was or is listed in the same neighborhood over the past six months.
  • The list should contain homes within a 1/4 mile to a 1/2 mile and no further, unless there are only a handful of comps in the general vicinity or the property is rural.
  • Pay attention to neighborhood dividing lines and physical barriers such as major streets, freeways or railroads, and do not compare inventory from the "other side of the tracks." Where I live, for example, identical homes across the street from each other can vary by $100,000.
  • Perceptions and desirability have value.
  • Compare similar square footage, within 10% up or down from the subject property, if possible.
  • Similar ages. One neighborhood might consist of homes built in the 1950s next door to another ring of construction from the 1980s. Values between the two will differ. Compare apples to apples.

Sold Comps

  • Pull history for expired and withdrawn listings to determine whether any were taken off the market and relisted. If so, add those days on market to these listing time periods to arrive at an actual number of days on market.
  • Compare original list price to final sales price to determine price reductions.
  • Compare final sales price to actual sold price to determine ratios.
  • Adjust pricing for lot size variances, configuration and amenities / upgrades.

Withdrawn & Expired Listings

  • Look for patterns as to why these homes did not sell and the common factors they share.
  • Which brokerage had the listing: a company that ordinarily sells everything it lists or was it a discount brokerage that might not have spent money on advertising?
  • Think about the steps you can take to prevent your home from becoming an expired listing.

Pending Sales

  • Since these are pending sales, the sales prices are unknown until the transactions close, but that doesn't stop anybody from calling the listing agents and asking them to tell you. Some will. Some won't.
  • Make note of the days on market, which may have a direct bearing on how long it will take before you see an offer.
  • Examine the history of these listings to determine price reductions.

Active Listings

  • These matter only as they compare to your listing, but bear in mind that sellers can ask whatever they want.
  • To see what buyers will see, tour these homes. Make note of what you like and dislike, the general feeling you get upon entering these homes. If possible, recreate those feelings of reception in your own home.
  • These homes are your competition. Ask yourself why a buyer would prefer your home over any of these and adjust your price accordingly.

Square Foot Cost Comparisons

  • Remember that after you receive an offer, the buyer's lender will order an appraisal, so you will want to compare homes of similar square footage.
  • Appraisers don't like to deviate more 25% and prefer to stay within 10% of net square footage computations. If your home is 2000 sq. ft., comparable homes are those sized 1800 to 2200 sq. ft.
  • Average square foot cost does not mean you can multiple your square footage by that number unless your home is average sized. The price per square foot rises as the size decreases and it decreases as the size increases, meaning larger homes have a smaller square foot cost and smaller homes have a larger square foot cost.

Market Dependent Pricing

  • Same house, three different prices. After you have collected all your data, the next step is to analyze the data based on market conditions. For comparison purposes, let's say the last three comparable sales in your neighborhood were $150,000. In a buyer's market, your sales price might allow some wiggle room for negotiation but be strong enough (near the last comparable sale) to entice a buyer to tour your home. To sell in this market, you might need to price your home at $149,900, settling for $145,000.
  • In a seller's market, you might want to add 10% more to the last comparable sale. When there is little inventory and many buyers, you can ask more than the last comparable sale and likely get it. So that $150,000 home might sell at $165,000 or more.
  • In a balanced or neutral market, you may want to initially set your price at the last comparable sale and then adjust for the market trend. For example, if the last sale closed three months ago, but the median price has edged upwards of 1% per month, pricing at $154,500 would make sense.

 

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