All agents develop and adapt their own toolset and processes over the years in order to make the most of any home sale or purchase, even their own. Here are 5 things Floresville real estate agents do when selling their own properties.
In the instance of an agent selling their own property, there are municipal, state, and federal laws that outright require the agent to inform the potential buyer that the property seller and agent are the same party.
For some buyers, this can be a warning sign that stokes fears of being conned into purchasing a faulty property, but oftentimes the opposite is true. Experienced and knowledgeable real estate agents live or die by their reputations, and making sure to keep everything on the up-and-up throughout the sale of their own properties is of the utmost importance.
Therefore, full disclosure of an agent’s ownership and role in the sale of a property is key to moving forward with the transaction.
Carefully Establish Pricing
One of the biggest reasons owners often hire agents is that they are unsure of their local market and don’t know the first thing about pricing the property appropriately.
Pricing too high can leave you hanging for months without any interested buyers while they wait for the price to drop. On the other hand, initially pricing too low can lead some buyers to think there have to be some critical reasons why it’s priced so far below market norms. Or it can be the mistake of a novice agent or an agent who is not in their home territory and does not know the local market. Many city agents do not have a clue about rural living. They have no knowledge of things such as rural water, wells, propane gas, and septic tanks. Or items such as how much does a workshop or a well or additional land add to the value of a property.
Striking that perfect balance and staying within market value expectations is key for any owner or agent to getting things started off on the right foot. Going further than analyzing your neighborhood comparable data, taking into account current market trends helps inform the resulting price even further.
Call in the Cavalry
As time goes on, all real estate agents build a network of professional connections, and they cultivate and leverage these relationships in a mutually beneficial way.
Whether it’s a professional photographer to create a spectacular photoset for the listing, maybe an interior decorator to take staging to another level, or a landscaper there to give the exterior that extra oomph or a tradesman to get those small items repaired, agents know whom to call to get the job done right the first time.
Taking advantage of the services provided by these individuals helps pull the entire presentation together, from the first impression to closing.
With the house ready for sale and a listing carefully manufactured, agents then do their best to push the marketing as much as possible.
This goes beyond showing a picture in the local newspaper and having a detailed listing online.
These days, agents do everything they can to get as much mileage as possible out of social media platforms. This includes creating a post with a link to their active listing along with a small blurb highlighting the strengths of the property and contact information. The next step is to share this post publicly, within local groups that allow posts about for-sale real estate, and by asking friends and family to share the post as well.
The amount of additional exposure and interest generated simply by getting the listing pushed out straight into hundreds – if not thousands – of personal news feeds is invaluable.
Consider All Aspects of a Bid
After bids start coming in, it’s very easy for your average seller to jump on the highest offered price and not look back, but that’s a big mistake.
Bids often come with specific contingencies and additional details that affect how much money a seller could net from accepting and closing using that bid. Repair and inspection contingencies are very common, and it’s important to think about how much additional time and cost fulfilling those contingencies could tack onto the existing set of circumstances.
Since it can be easy to overlook these details, it’s important to take a step back and review all facets of each offer before making a final decision.
The best offer is not always the highest offer, even though it is tempting to take that offer. But many factors can influence which offer is actually the best. And that can be factors that a seller might not have the knowledge to even consider. Did you know that agents may know a lender’s reputation? Can they bring a borderline loan to the finish line? Are they honest? Are they experienced in the type of loan your buyer needs? A lender can actually cause a loan to crater. Personal experience has been that even advising your own buyers that the lender they chose is going to be a headache doesn’t always dissuade them from that lender. Personal experience is that a lender a buyer walked away from and moved to my great lender turned out to be the best. At the closing table that client looked at me and told me he was so glad he chose that lender. Totally forgot that I had warned him against his first lender who was not good at getting people to closing and recommended the lender he was referring to. But those small items can make or break a deal. An agent can guide you through those challenges.
Professional Real Estate Agents in Floresville
If you want to work with a team of real estate agents who will work just as hard at selling your property as they do selling their own, contact us today at (210) 216-7722!
Floresville Real Estate Agent – Faye Y Taylor is here for help and to answer any questions you might have
Faye Y Taylor, Floresville TX Realtor®
Serving all of Wilson County and the South Texas area