Are you thinking about letting a real estate agent market your Miami home on your behalf? If so, check out our article below first!
Everyone goes through an agent when they sell a property, right? Wrong. There are other ways to sell in Miami, Florida.
But if you’re determined to list your property with an agent, make sure you read this blog post! We’re going to reveal four common mistakes that homeowners make when hiring an agent to market their real estate.
What You Need To Know BEFORE Listing With An Agent!
#1 You Might Not Sell Straightaway!
The market varies and can even shift from one day to the next. So make sure you set realistic, attainable goals. If you hope to sell on a schedule that’s too tight for today’s market, you’ll just be left disappointed.
If you’re a seller, you should assume it will take months at the very least to secure a sale. From fixing up the property to holding open house events and showing buyers around, there’s tons of work to do. And, that’s before anyone puts an offer down. It could take a few weeks to negotiate a deal and decide on a moving-in date. If you’re an agent, be careful not to over-promise on a quick and easy timeline to your sellers – set them realistic expectations.
#2 The Asking Price Won’t Be The Selling Price
The asking price is a starting point. As the name suggests, it establishes what the seller is asking for in regards to the sale price.
If you’re thinking about selling a house, you need to realize the actual selling price can differ from the asking price. If you’re an agent, explain this clearly to your sellers to avoid any disappointment and possibly disgruntled clients.
#3 You Don’t Get All The Money
Some homeowners make the common mistake of assuming that the selling price (minus anything they owe on their mortgage) is pure profit. If only that were the case… Unfortunately, if you go through an agent, there are costly commission fees, closing costs, and potential unforeseen expenses that you won’t know about till they happen.
If you’re a real estate agent, make sure you explain any costs upfront to your customers.
#4 Don’t Assume That The First Offer Will Go Through
You’ve listed a property on the open market. A few weeks go by, and you’ve got your first offer…
Wow, that was quick! I can’t believe I’m going to sell my house in under a month on the open market!Misinformed Homeowner…
STOP! Don’t immediately assume an offer equals a secure deal!
Buyers often make offers and then discover that they can’t get financing. Loans fall through all the time.
If you are a seller, be prepared to have one or two buyers back out after making an offer. Maybe their circumstances changed, or they couldn’t secure a loan, whatever the reason, don’t get your hopes up until the deal is finalized.
If you’re a real estate agent, prepare your sellers ahead of time by explaining this upfront, so they can be ready if that happens.
Listing With An Agent In Miami
Whether you’re a property owner looking to sell or you’re a real estate agent representing multiple sellers, these 4 common mistakes can happen to anyone during the sales process. So make sure you’re aware of them.