IT CAN BE A BIG MISTAKE TO REJECT EARLY BUYERS FOR YOUR HOME. Many sellers have discovered, from bitter experience, that the buyers they rejected when their home was first placed for sale were the buyers prepared to pay the highest price. An efficient agent will have a “bank” of buyers waiting. The agent will select the best buyers and bring them to your home. This can be your best chance to get the best price. If your home does not sell to any of the buyers in the “bank”, you will have to wait for new buyers to enter the market. The number of buyers for your home will get lower, not higher, as time goes on. And your price will often get lower too. Agents who say it may take many weeks to find a buyer are admitting that they are inefficient – or they are failing to tell you the truth about the value of your home. They know your home is priced too high and they have to “condition” you down in price. The purpose of advertisements and massive numbers of inspections is not to “search for buyers” – the buyers are already in the area – it’s to “condition” you with lots of visible activity. This activity damages the value of your home. It tells buyers that your home is not sold. It also makes you think the agent has worked hard. But hard work is not the same as efficiency. How many times do you hear of sellers having their homes for sale for a long time and getting a higher price? Almost never. High prices come early. Low prices come late.
CONSIDER CAREFULLY THE EARLY OFFERS YOU RECEIVE. You may even get the full asking price (or more) in the first few days. If the early price enables you to achieve your goals, you should strongly consider selling sooner rather than later at a price which is likely to be much lower. The hallmark of an efficient agent is one who can find the best buyer willing to pay the best price in the shortest time and with the least cost to you. That’s efficiency
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Go To Mistake 16 – Paying Too Much Commission