Surviving The Sale



Selling a home can sometimes be a long, stressful, and costly process. Like
anything, though, equipping yourself with the right tools and the right knowledge can
eliminate a great number of the potential negative aspects of the process – and get you the
maximum return on your investment.

Your Team


The importance of having the right allies in the selling process cannot be overstated.
Having an expert on your side, not only to assist you in making decisions and getting
your home marketed, but also simply in terms of having an advocate in the process, is the
single most important step you can take to reduce your stress.

The first step in selling any home should be to arrange to get Comparative Market
Analyses for your home from three different Realtors®. Many sellers take this step, but
what they do with the information they receive is not always in their best interest.

Once three CMAs have been prepared, the natural tendency is for a seller to hire the
Realtor® who produces the highest number. This is often a mistake. Competing
Realtors® sometimes inflate these numbers in order to ‘buy’ your listing, intending to
later drop their price. If one CMA is significantly higher than the others, be suspicious of
how that number was reached.

More important to this process is getting an idea of these Realtors®’ backgrounds,
expertise, motivation, and simply their personalities – you may be working closely with
this representative for many weeks, so it is important that it be someone you trust.


Your Goals

Most sellers fail to move beyond goal #1, and that can cause some problems. Another
important goal that should be recognized is the attempt to minimize stress. Will getting
an extra percentage or two for your home be worth the inconvenience of having it on the
market for an extra month? Two months?

Your priorities are your own, of course, but sometimes sellers underestimate the stress
that having their home on the market for an extended period can generate. Constant
showings, constant interruptions, and concerns about selling your home before buying its
replacement are not minor concerns – each can have a major impact on your life.

Sit down and discuss just where you place the most importance in the selling process. If
profit is your only priority, perhaps you can afford to be firmer in your asking price, and
can reject offers that are less than ideal. Most sellers who have had their home on the
market for an extended period of time, though, would agree that the few extra dollars
were not worth it in the end.


Your Trust

The correlative to assembling a strong team is putting your trust in that team.

Few people would second-guess their heart surgeon and insist they could do a better job
themselves, or question whether their lawyer’s knowledge of the law is more extensive
than their own, but when it comes to selling a home, many homeowners find it difficult to
put their faith in the knowledge of their Realtor® fully.

For example, despite the fact that studies show that less than 1% of homes are sold
through open houses, many homeowners insist their Realtor® hold one. Indeed, if a yard
sign and an open house were all it took to sell a home, there wouldn’t be many Realtors®
at all!

If you’ve put the right team in place, put your trust in that team. Realtors® have access
to many highly-advanced marketing strategies that you may not even realize are being
utilized.

It is your Realtor’s® job to bring qualified buyers to the table – and keep in mind that he
or she likely does not get paid at all if your house doesn’t sell! In most markets, the
combination of the right representative and the right listing price will result in a sold
home. If you recognize this early on, it becomes much easier to take a step back from the
process, let your professional representative market your home, and minimize your stress.

Don’t hesitate to speak up if you think that things are not progressing as they should, but
likewise, don’t hesitate to sit back and be comfortable in the knowledge that the sale of
your home is being handled professionally and effectively.

East Coast Realty | 35 Fulford Avenue, Suite 203 | Bel Air, MD 21014
410.420.8910 | 
steve@ecoastrealty.com

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