It’s easy to sell something quickly if it’s priced below the market value. The buyers will bend over backwards to make it happen because they know they are getting a great deal. The buyer will even tolerate delays and bad service for the prospect of acquiring a steal. This decreases the amount of work and responsibility for the selling agent and the seller. Many sellers sell for cheap because they want it easy. Some real estate agents even list it cheap for a quick sale. This is a major error. Tens of thousands of dollars are senselessly given away each year.
After hundreds of sales, I know from experience that getting the best price for the seller requires me to be reliable like the front desk at the Ritz hotel. I have to return calls quickly, listen carefully and speak clearly and concisely. I must treat the buyers and the buyers’ agents with unrelenting reliability and respect. The marketing must be well designed. This is hard work. 15 years ago, I decided not to drink even a drop of alcohol. I must be sharp at all times. If your offer comes in after I’ve had a couple of beers on a friday night, I could screw up your profits. If I drop the ball, they take their money elsewhere. I like money more than alcohol.
Another point of interest: When I am selling a home at full market value, the buyer is still shopping around for better deals. If they find a better deal, they are likely to jump ship for the better deal. This often happens during the inspection and appraisal periods ( where the buyer has the right to get their deposit back). This being the reality, I have to be sure to cross my t’s and dot my i’s. (more hard work). The times, dates, deposits and pre qualifications must be negotiated with scrutiny to prevent the buyer from an easy out. The purpose of a good contract is to prevent problems and provide a predictable future for all parties.
Written by: Daniel E. Novak 8-7-23
Prime Time Real Estate Inc. 