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Caution: Before You Sell Your Home



Interview at least two or three real estate agents to get an idea of fair market value. Also ask them how many homes they have sold in the immediate area in the last year. The trouble is that if you go with the first agent you find, you might end up leaving money on the table if the market value estimate given is not a fair market value or the agent is somewhat inexperienced and has not had much training in marketing and selling.

Just the other day, I was chatting with a friend and she told me her elderly neighbor, “Sally”,  was approached by a real estate agent that was going door to door asking homeowners if they were interested in selling their homes. Some agents are doing that because Coral Gables' inventory is so low and they have nothing to sell or advertise. This “roving” agent  gave “Sally” a quick and easy estimate of a listing price. The lady does not read the papers often and had no idea how quickly the market has turned around in our town (up at least 25% from two years ago). She agreed to let the agent bring a customer by and took the first offer that came in selling her house immediately. It turns out that “Sally” probably left more than $200,000 on the table...Money that she could have made very good use of in her retirement. The property was not marketed and not placed on the MLX. It is a shame that this older woman was really unaware and should have at least asked another agent or some of her friends for advice.

In any market, it is important for your Realtor to price well so that you get top dollar and sell quickly but you need to seek an honest, professional opinion by reviewing research and comps. Ask your own neighbors, and friends and family, to recommend a good agent. You will be happy you did.

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Anonymous said…
"The property was not marketed and not placed on the MLX."

Boy, does that sound familiar.

Wish I had read your blog before meeting you.

Just call me Sally.
January 30, 2014 at 7:04:00 PM EST
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