Choices abound in how you sell your home; why choose a full service Realtor®? Let me tell you of a recent experience I had that highlights the added value of the concierge service offered by a customer focused brokerage.
Representing buyers looking for a 3-4 bedroom home for $250,000 in the east valley this spring has been a delightful challenge. There has clearly been more demand for these homes than supply. If buyers don’t act quickly, the home will almost always be sold before they know it.
I found a beautiful Chandler home for my buyers and they immediately decided to make an offer. The home seemed priced quite a bit over market value so I contacted the sellers agent who worked for a discount, limited service brokerage to discuss comparative sales and potential appraisal issues. The agent advertised that she listed 100 homes in the last two years, so I expected a professional, experienced agent. I was quite surprised to hear that the home was priced NOT taking into consideration the fact that it backed to a major street which would certainly result in a low appraisal. We spent the next 48 hours negotiating back and forth, and ended up coming to terms that both seller and buyer could live with.
Just as all parties were about to sign the contract, I was informed that the seller will only sell the house if the buyers will lease back the property for a period of 2 weeks after closing. This was not made a part of the listing, nor was it brought up early in negotiations. Given the legal issues involved with leasing a property for less than 30 days which provides no protection to the “landlord” or “tenant”, and the fact that my clients needed to be able to occupy the home at close of escrow, my buyers moved on. A lot of time, energy and emotion was wasted on a transaction that never could have been consummated.
Since this incident a couple of months ago, my buyers have gone on to purchase another home that they love. And the sellers of that other home? Still lingering on the market with price reductions. Your Realtor should do more than just list your house. You should be able to count on her to advise you about ALL aspects of pricing a home and appraisal issues. She should be a problem solver, assisting you in finding solutions to timing issues that minimize your risk of being stuck in a home you need to get out of. She should understand the consequences of courses of actions that will impact getting you to your goal. And at a minimum, she should know what needs to go into the listing to attract buyers that can and will be willing to meet the sellers bottom line terms.
Saving money on selling a home could be quite an expensive undertaking, as that seller is certainly finding out.