Andrew Wetzel's Musings

March 20, 2019

Andrew’s Time-Tested Real Estate One-Liners

Filed under: Buying,Ethics,Hiring an agent,Price,Selling — awetzel @ 4:19 PM
  • When hiring an agent, pick the one who lets you sleep better knowing they have the training, experience, knowledge, integrity and character to work in your best interest
  • Sellers are either motivated by time (they want to sell sooner rather than later) or money (they want or need to meet a certain goal)
  • If you are selling to buy another house, what is the cost of taking longer to sell?
  • The fee/ commission is negotiable but you have to compete with your competition or your first price reduction will cost more than what you thought you were saving
  • Every property has a price at which it will sell
  • The first offer you receive is usually the best
  • If you price your house too low, you probably won’t need me to help you sell it; if you price it too high I probably can’t help you sell it
  • Houses that do not sell either have a pricing or a marketing problem; many have both
  • A price reduction is a co$tly way to try to overcome poor marketing and it may not work
  • If buyers and agents cannot find your property in their search results, they will not know it is available so it will sit on the market longer than it should
  • If a house does not sell, buyers either found something similar at a lower price or they were willing to pay your price but wanted more features for their money
  • A price reduction either has to make your house appeal to a new group of buyers or convince those who know about your house to want to take action (make an offer)
  • Buyers are buying the neighborhood and a lifestyle so they need to engage in the process
  • Negotiating an offer is like playing poker:  you can focus on what the other person is thinking or do what is in your best interests.  A seller or buyer may not get a second chance
  • After a purchase agreement is signed, one party is generally happier than the other and how the process plays out depends on who thinks they gave up more
  • Getting an offer signed is like getting engaged:  the goal is to commit to the process and make sure it is the right decision.  It does not always end well
  • Hiring a friend or family member may feel great but what happens when a problem arises?  Business does not always mix when a personal relationship is involved.

Remember:  HIRE WISELY!  We are not all the same!

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