Sellers tend to overprice and spend a tremendous amount of effort trying to defend their price, even if the market doesn't support it.
Pricing a home correctly is a partnership between sellers and their agent, not a battle of wills.
When it comes down to it, the most important advice a real estate agent can give sellers is how to price their home. No matter how beautiful or well-maintained a property may be, how many upgrades it has or how well it shows, if a home is not properly priced, it’s going to be a tough sell.
The battle for agents most often lies with aligning what sellers’ think their home is worth with its true market value.
These disparate realities can be difficult to merge
Are the terms “real estate agent” and “Realtor” interchangeable? Those inside the industry know that they’re not, but they also know that it seems to be a bit of an industry secret — many consumers aren’t sure at all what the difference is between a real estate agent and a Realtor, or whether there even is one.
Here’s a guide to help explain how this real estate agent vs. Realtor thing works.
What is the difference between a real estate agent and a Realtor?
The titles “real estate agent” and “Realtor” are often used interchangeably.
Why do people use the terms interchangeably if they mean different things?
Because using the term “real estate agent” can be a bit clunky and wordy, those who may not be familiar with
Agents across the US are getting calls from would-be clients who realize buying is suddenly getting cheaper
Like an avalanche growing larger as it tumbles down a mountain, real estate agents are seeing swelling demand from buyers as mortgage interest ratesplummet and — contrary to what some observers previously expected — home buying actually gets cheaper.
The latest news of falling mortgage rates came Thursday, when a new survey from Freddie Mac revealed that the average for a 30-year fix-rate mortgage had dropped from 4.28 percent to 4.06 percent — the biggest single-week decline since 2008. The rate drops are tied to the Federal Reserve’s belief that the economy is poised to slow down, according to an economist from Freddie Mac.
We know how important we are to the transaction — it's time everyone else knows too
A vast majority of today’s consumers believe that selling real estate is an easy business. Many believe sites like Zillow provide all the information they need to locate the right house and close the transaction. Sadly, both groups are seriously mistaken.
There are three primary reasons consumers hold these beliefs:
The reality TV shows have glamorized the business of showing properties and writing offers without showing the behind-the-scenes work it takes to close a transaction.
Many of the technology companies promote the belief that an algorithm is the only thing needed to help a consumer locate and then
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Most homeowners would probably prefer to have a professional licensed Realtor work on their behalf to sell their home, but not everyone sees the value of paying a fee for an agent’s expertise. I get it — it is not easy to recognize all the work it takes to prepare a home for sale, list it, market it and make sure everyone involved in a transaction is on schedule and committed all the way through closing.
Great agents make great partners because we bear the (substantial) cost of marketing, we have the ability to expose people’s homes to more buyers, deal with the mounds of paperwork and save the homeowner time, stress and money.
Still, people sell their homes as a For sale by owner
Here are the top six myths about online property shopping -- busted
As real estate agents, we’ve all been on the receiving end of internet leads. Whether they be for one of our own listings or for a property in a ZIP code or territory that we are paying for, engaging, working with and converting these leads into actual closings is a hit-or-miss process — and a lot like winning the lottery.
Endless articles, books, webinars and social media chat threads have been dedicated to this very topic: What should we agents do or not do, say or not say? How and when should we follow up? And although that content is helpful for real estate agents, it’s time we flip the script and start educating consumers on what goes on after they select “click here for more
But some markets have yet to fully recover from the crisis
The U.S. housing market has gained back all $9 trillion in value lost during the 2007 recession, according to a recent Zillow report. Furthermore, the average U.S. home is now worth $55,200 more than it was at the bottom of the housing bust.
Zillow says West Coast markets have fared the best since 2007, thanks to robust job growth and low inventory that has pushed home values up. On the other hand, The Sand States (California, Florida, Arizona and Nevada), excluding California, have yet to fully recover from the disproportionate impact the housing bust had on them.
The median home in San Jose and Las Vegas dropped $190,000 in value during the recession, but today, homes in Las