LIME REALTY GROUP wants to start a series of blogs where we discuss tips and ideas for choosing the best listing agent for your property.

Two of the biggest mistakes seller make when they are looking for a listing agent are basing their choice on the highest list price for your home and the lowest commision.

At first glance you might think to yourself, “No way!”, because as a seller you want the highest possible price and you need to pay the least amount of commision.  But these two areas have very little to do with actually hiring a competent agent and in reality, are completely irrelevant and we’d like to do a few blog entries on why that is.

To start, let’s talk about the highest list price for a minute.  An agent can’t tell you how much your home will actually sell for.  That’s simply impossible.  They can show you comparable sales, pending sales and active sales, but they can’t say for certain what the best asking price is.  You actually set the price and buyers who make offers will tell you if the price is right or not.

Since agents can’t guarantee a sales price, an agent who suggests the highest price is probably leading you down the primrose path.  If they’re suggesting a high price, ask for the information they’re using to demonstrate why they think the property will sell for that much.  If they can’t produce them or show you comparables located in different neighborhoods from where you’re looking then you should be wary.

A competent agent will show you comparables with some pricing range.  It might be high and it might be low.  Many factors can determine range such as location, temperature of the market or even upgrades and improvements to properties.  Demonstrating a knowledge of the price range your home fits in will help you determine the right price to list your home at.

The best time for an offer is within the first 30 days if the homes if priced right.  If it’s priced to high, you probably won’t have buyers looking at it and you’ll miss out on opportunities.  Eventually, you’ll have to lower the price to get buyers to check it out and a price reduction will almost always leave a buyer wondering what’s wrong with the home that it hasn’t sold.  

Picking the correct listing price is an art form and an experienced agent will know that.  They’ll use the tools available to them to help you make an informed and insightful decision.

We’ll discuss more about this issue in another blog, but for now, why not call Lime and give us a try.  Our experienced agents can help you today!