One of the challenges, of creating a meeting – of – the – minds, when it comes to real estate transactions, etc, is, each party, often, has a different perception, of the value of any particular property! Generally, buyers under – value a potential purchase, often, seeking, a lower, than realistic, offering price. Sellers behave, quite to the contrary, often, over – valuing, what they own! While real estate agents should be the level – headed, guides, throughout this process, unfortunately, the competition and search for commissions, skews their behaviors. However, in the end, in most cases, it’s the reality of the marketplace, which determines the selling price. It’s important to recognize, and realize, there’s a huge difference between listing, and, selling price, and, only the latter one, translates to money, in one’s pockets. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, each of these, and the need, to create an attitude adjustment, to obtain a desirable deal, and, transaction.
1. Buyer: In many cases, buyers believe they must offer, below offering price, for a piece of property, and/ or, house! Perhaps, this is, because, traditionally, some agents, addressed this, by pricing a house, artificially high, at the start. However, instead of doing so, a buyer should seek, a qualified, buyers agent, who will do a Competitive Market Analysis, to indicate, a price range, for the particular property.
2. Seller: Since sellers, generally, have an artificially – high, estimate of the value of their home, based on observing listing prices (without checking, selling prices), and becoming, overly emotional, and/ or, attached to their home, they often, think their house should be priced, higher than it should. This is generally, not beneficial, because, in the vast number of instances, houses, priced right, from the start, receive the best offers!
3. Agent: All real estate agents are not created equal! Since, for most people, the value of their house, represents their single – biggest, financial asset, wouldn’t it make sense, to carefully interview, and thoroughly examine/ discuss/ consider, which agent, might be best for them, and their circumstances! Whether, buying or selling, it’s important to hire, the right person! The agent should provide you with a sense of reality, and tell you, what you need to know, not, just want to hear (TM).
4. Market: The market will be the reality! Remember, in most cases, the best offer will come, within a few weeks, after the house is listed, so, it’s wise to price it right, to optimize the possibilities.
Whether buying or selling, doesn’t it make sense, to use some common sense, and act accordingly! Are you prepared to do so?