This is the latest edition in our 6 part “home seller series” designed to help Orlando homeowners sell their home for
top dollar in the least amount of time. This week’s focus will be on pricing the home correctly from the start.
Research from our own listings clearly shows that homes that are priced correctly from the start, spend about half the time on the market when compared to homes that were priced to high then had to adjust.
One of the most critical steps in selling a home is determining what price it should be listed for. Your Orlando listing agent should prepare a comparable market analysis [CMA] on the property. A CMA is an in depth report about the subject property and comparable properties that were recently sold in the surrounding area as well as properties that are currently listed and under contract. This report is designed to educate the homeowner and help them to come up with the right listing price for the property.
We’ve found that an Orlando home that is accurately priced and in decent condition will usually have at least one offer on it within the first few days.
Beware of “Yes Man” Agents
Unfortunately, Some real estate agents resort to using shady tactics in order get a listing. One of these tactics is to list the property for an unrealistically high amount in order to make the homeowner believe that they will actually sell the home for “over market value”.
Even though the agent knows that the home doesn’t have a snowball’s chance in hell at selling for that price, they list it anyway and after a few weeks of no activity, they suggest to the homeowner to lower the price.
Unfortunately, it’s the homeowner who suffers the consequences by losing valuable time on the market with no activity. Even worse, homes that continually get lowered in price on the MLS usually end up being sold for below market value and take several months longer to sell.
Easy Exit Listing Agreement
Homeowners can easily protect themselves by hiring an Orlando realtor that uses an “Easy Exit Listing Agreement”. This listing agreement contains a clause which allows the homeowner to cancel the listing at anytime without paying any cancellation fee or penalty.
When interviewing your listing agent, ask about their listing cancellation policy. If they want to charge you a cancellation fee, then chances are they may not be confident enough in their skills to get the job done. An easy exit clause will keep the agent motivated to get that house sold quickly for the highest amount the market will allow.