Choosing the Wrong Realtor:
The world is populated with relationships between people who are not right for one another. The sale of your home could well be the most important financial transaction that you ever make. It certainly will be among the most emotional. The agent that you select can make it a satisfying and profitable experience, or an unpleasant one – especially if they are part-time or haven’t closed on many homes.
Misconstrued Perception
The biggest mistake that a home seller can make is choosing the Realtor who quotes them the highest price. It is “fool’s gold” to equate a Realtor who suggests a higher price with one who has a greater appreciation for your home. More often then not, if a particular Realtor suggests a price that is significantly higher than others, it is due to inexperience, lack of market knowledge or both. If that agent is willing to stand behind their price, ask them if they will commit to refraining from recommending a price reduction while it is listed with them.
When you choose a Realtor who recommends the highest list price, it often results in two catastrophic mistakes – choosing the wrong price and the wrong Realtor!
Friends and Relatives
Listing your home should never be about nepotism. A friend or relative should only be your choice if you truly believe that they are best suited for the job. This is serious business, and while your home may sell immediately, the odds are greater that it won’t. There are times during the listing period when you and your Realtor will need to have candid discussions. Ask yourself if the relationship that you have with them could sustain such frank dialogue. If not, then he or she may not be the right choice.
The quality of your home selling experience is dependent upon your skill at selecting the person who is best qualified to procure the highest price for the sale of your home with the least amount of inconvenience to you. A personal relationship or a higher list price do not equate to a higher sale price.
What other negatives are there to choosing a Realtor with whom you’ve had a personal relationship?
