London, Ontario - In today's trending market conditions it can be the tendancy for a Realtor to approach the reccommended selling price of your home by saying things such as, "the market will determine your selling price." Often this leads seller's to underlist their homes in an attempt to then receive mulitple offers on their home leading to a sale over list.
While the end result might seem rewarding to you, the seller, the agent is the one in the end who wins big-time, "Little effort for BIG REWARD!"...and what was actually done?!? What professional services were actually delivered? How did those agent's actions best promote and protect their duty of care to you? As per their agency and sales representation agreement?
Too often, the above result comes to light after the accepteance is signed, leaving some sellers feeling cheated & wondering, "Why did I hire a Realtor to sell my home if they just underlist my price? I could have put my own sign on my lawn to sell my own home and would have saved thousands in commisson" - this trend is becoming more repetitive and thus leading to a number of changes in the Real Estate industry including a variety of lower cost listing / selling options - which again, can be questioned regarding maximizing the net proceeds of sale.
Here's What You NEED to Consider:
1) "By underlisting the price of your home, did your sale process improve?"
2) "By underlisting the price of your home, did you improve your net proceeds from the sale of your home?"
3) "How are your interests protected and promoted by underlinsting your home?"
4) "When suggesting to underlist your home, did said Realtor guarantee you a minimum sale dollar, or offer to cover off any differences from their commission?"
5) "By exposing your home to the market for such a limited & fragmented period of time, are you really getting the true market value of your home on sale?"
6) "How are you going to feel when you have to reject the offers of multiple buyer (all whom have pleading stories as to why you should work with their offer)" - this rejection can be very emotional for all parties involved.
You see, more often then not, there is no advantage to underlisting your home - other than to accomplish a quick sale, but Are YOU GETTING THE MOST MONEY FROM THAT SALE OF YOUR HOME?
As always say, "It's Your Money, and my time. My commitment to working for you does not change based on the listing price of your home."
If you are interested in understanding how to optimize the net proceeds from your sale, enjoy a stress free process, and truly appreciate the value you can obtain from a Realtor who provides indepth market analysis......contact me - It would be my pleasure to work for you.
- Chris Mavrikkou, Broker
Disclaimer: The article are the opinons of Chris Mavrikkou only and do not represent those of oragnized real-estate including: LSTAR or CREA. This article is not to interfer with current real estate contracts.