How To Showcase Your Property To Enchant Buyers, Part 4
Never underestimate the validity of the first offer, as many inexperienced sellers expect that the first offer received is just an opening bid and that there will be many higher offers to come, thus they tend to not respect the seriousness of the offer and the validity of the proposal. Especially in cases when the first offer is tabled shortly after the property is first placed on MLS, sellers tend to heavily discount it from being a reasonable prospect worthy of consideration. A professional Realtor with a history of having successfully concluded many transactions is aware that in many cases, the first buyer is the one which proposes the best offer. The amount of money that buyers are willing to expend on a property decreases the longer that property has been available for sale on the market. There are countless sellers who have been forced to accept offers which were far less lucrative than their first, and have had to wait a number of months in order to do so.
Understand the details of your contract of sale because the agreement to sell a property is an extremely complex document which is specifically designed to be legally binding on all signing parties. A contract which is written informally and improperly without the guidance of a professional Realtor can lead to a voided sale, or legal ramifications which can be extremely costly to settle. A Realtor who fundamentally comprehends all of the minutiae of the legal terminology utilized in the contract can explain to a seller exactly what the terms and conditions specified in the document are and how they affect the sale of the property. If a seller lacks their own legal advisor, a Realtor can also introduce the seller to a reputable lawyer who is fully experienced in that specific type of real estate transaction.
Great marketing makes your property stand out! If a seller has secured the right Realtor, the property will be promoted utilizing a wide range of marketing tools, media, and approaches. The experience of a Realtor with many successful completed transactions will allow them to structure the proper marketing mix to distinguish your property from the countless others on MLS. A wise and skilful Realtor will emphasize the promotional vectors which their expertise has taught them will work best for that specific type of property, and will accentuate not only the features of the residence, but also the benefits to the buyer.
Print advertising and open houses are not by themselves overly effective means of promoting a home. Only 1% of all North American homes are sold at an open house event, and only 3% of North Americans state that they bought their home because of an advertisement they saw in print. Savvy Realtors have a variety of marketing tools in their arsenal and apply carefully selected combinations in order to attract prospective buyers. They are the acknowledged experts in the field as they are trained, licensed, and many of them have well over a decade or even two decades of professional experience in the local real estate market. It pays to listen to their advice!