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 Seller tips
- Pricing is the most important marketing strategy for selling your home. The job of the listing agent is to help sellers understand the risk of various pricing strategies. How does your listing agent approach pricing? Are they telling you what price to sell at? Are they giving you a higher price because it sounds appealing to you. Beware of the agent who uses this approach to secure more listings.
- Financing contingencies. When a buyer makes an offer, the sale will be contingent on the buyer obtaining financing. It amazes me how many listing agents will only ask the buyer to submit an approval letter from the bank or a financing commitment. If market conditions warrant it have your agent negotiate for the removal of the financing contingency after an appropriate period of time.
- Know your competition. Toeffectively compete with the other homes for sale have your agent show them to you. It is important to see how your home stacks up against the competition and the agent should be educating you about this.
- Earnest money is a deposit the buyer makes. If they break the contract then it would go to the seller as liquidated damages. Consequently the seller wants as large of a deposit as possible. Your listing agent should be minimizing your exposure to risk. Your listing agent should be negotiating for as large of a deposit as possible. Not just doing what is normal or easiest for the agent.
- Controlling the flow of information. When I represent the buyer I want to know as much as I can about the seller to see how motivated they may be. Your listing agent must be protecting this flow of information and doing what they can to enhance your position. Ask them how they deal with questions, like "why is the seller moving?"and how they protect information about you.
- Control of the transaction is important. Each side should be trying to control the transaction. Ask your agent how they try to control things for your benefit.
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