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The "FREE EVALUATION" Unless you are on top of the real estate market in your community there is no way to stay on top of the current prices that some properties are selling for. Usually, in part of the junk mail everyone receives occasionally, the local real estate companies are offering “FREE EVALUATIONS”. Most often these advertising cards are just thrown away because the recipient is not interested. That is the cost of doing business from a Realtor’s point of view. When someone is thinking of selling, most people will call the local Realtor to take advantage of this offering and ask to be given a price on their castle. “Opinion of Value” All any Realtor can give you is what they in particular may feel is a reasonable price based on their knowledge, experience and also motivation. It stands to reason then that the resulting “opinion of value” is as good as the person who ends up providing the information. Because competence varies in every business it would be a wise move to ask for 3 or more “opinions of value” from perhaps different Realtors who work the area in which the property is located. Other "Opinions" Depending on what you need, usually an accredited appraiser is required to satisfy the bank that there is value in your property for re-mortgaging or for financing the one you want to buy. The reality here is that the appraiser simply uses the same information as Realtors to establish value then compiles it in a report and charges you a fee. Attitude Sells Properties A competent and experienced Realtor will be able to accomplish this task with ease and give you confidence that you are doing the right thing at the same time. Beware of the Realtor who is not sure of what your property may be worth and requires assistance or asks you what do you want to sell it for. An overpriced listing is not good for anyone and will be perceived by the public as such immediately it hits the market because of the easy access to computer based listing services. “FREE EVALUATION” is a solicitation tool. Those cards that suggest that the service is free are stating an initial fact. The service is indeed free but consider how free it might be if the property sits on the market unsold for months because the evaluation was incorrect. You may have missed the market entirely by assuming that your price was okay only to find that 6 other properties similar to yours sold during the same time period and yours was used as a catalyst to do so. Or the Realtor that happen to be on floor duty the day you called, is only in the business as a second job on a part time basis working evenings and some weekends. This is allowed in most areas under the Human Rights Code so it is up to you to hire the Realtor whom you would believe will do the best job for you. A career Realtor has the experience, competence, knowledge and resources to sell your property with a Personalized Marketing Plan and they are in the real estate business for the long haul. Not just the peak times as some are. Your Price If you want to try a higher price, deciding to ignore the recommendations and still use a specific Realtor because of their integrity in the business then at least be prepared to supplement the marketing costs in the form of increased sale commission or prepaid advertising. The majority of Realtors pay for all marketing related expenses out of their own pockets and may be unwilling to take on what is sure to be an expensive listing obligation that will never sell. WHICH REALTOR TO USE??? Uncle George or Aunt Molly Using relatives in the real estate business may not be the wisest move you will ever make although you would expect it to be otherwise. A results thinking Realtor will always refer the relatives business to another registrant because it is always in the best interests of the future relationship that exists now. The connotation is that they will “kick back” some of their commission to you and it will ultimately save you some money. Unless they have unlimited funds available for those marketing expenses and can still get the property sold in a reasonable time, soon they will become disenchanted with the aggravation and you will be on your own. Of course you may think you are doing your relative Realtor a favour by giving them the business, but if they work out of your area they will be unable to service the listing and your needs effectively. What is "LOCAL" when it comes to Realtors? If you have used a Realtor services in the past who demonstrated compatibility with your personality and they are within reasonable proximity to the property you want to list for sale then you are already ahead. There are some people who have the same Realtor for all their selling and buying needs no matter where they decide to move to in the general geographic area. With today’s high-tech computer systems the listing or buying of real estate is less a neighbourhood focussed service and has evolved into a much broader customer oriented professional representation for all like transactions. Using a Realtor who has previously proven themselves saves a lot of anxiety in deciding what to do next because they will already know your history and a rapport is easier to re-establish than start from scratch. Staring fresh with a new Realtor for either selling or buying may be a daunting task if you have certain expectations that are not met and have committed based on erroneous local inaccurate promotional information. Surely you would agree that a personal contact with someone you know who has already established their competence in previous transactions with you is far more acceptable than one who's experience and ethics are unknown. Only you can place a value on your own choice. SMOOTH EXPERIENCE The various aspects of buying or selling real estate are relatively simple and the system of organized real estate is designed to make it a smooth experience. It is usually the personalities of the individuals involved that can either make or break a transaction. In reality, this will apply to anyone who becomes involved in any given transaction. A buyer, a seller, a Realtor, a lawyer, a mortgage broker, a mortgage lender, a surveyor, a property inspector or even the municipality. BACK TO www.realestate1o1.com |