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There are many mistakes a person can make when deciding to
sell a home. One of the most serious is listing your home with a REALTOR®
just because that Realtor is your friend. Here's a true story that
illustrates this point.
John listed his home with his best friend,
who happened to be a Realtor. Because they were such good friends, the
Realtor could not bring himself to tell John that his home was dirty and
that it needed to be cleaned up if it was ever going to sell. The Realtor
was also reluctant to break the news to John that he had spent thousands
of dollars on home improvements that may have added to John's enjoyment
but did not increase the value of John's home.
As a result, the Realtor listed John's home
several thousand dollars over the market value and in poor showing
condition. Not surprisingly, the weeks passed with little activity and no
offers. John's friendship with the Realtor became more and more strained
as each month passed without a contract. After several unsuccessful
months, John lowered the price of his home to well below market value, but
by then it was too late. The few people who came to see the home had
already purchased another house, and the most active buying season was
over. John decided to take his home off the market for a while.
Several months later, John contacted a
well-known, professional Realtor who met with John and told him the truth
about marketing. This Realtor shared with John the history of sales in the
neighborhood, gave him a list of all the competition, shared an aggressive
computerized marketing plan and suggested a fair marketing price based on
the facts. The professional helped John stage his home - in other words,
he prepared the home to be marketed - a secret of selling of which only a
few professionals are aware. Appraisers have often said that the simple
act of staging can add hundreds if not thousands of dollars of value to a
home. Thirty-nine days later, John sold his house for 99% of the listed
price.
The sad part of this story is that John now
resents his friend for not being honest with him up front and for not
getting his home sold the first time around. Although John's friend was a
good professional, he simply couldn't separate business from friendship
and as a result he lost John's friendship and his business. That's the
danger of listing your home with a friend.
Most Realtors can't draw a distinct line
between their friendships and their business, so if you truly value your
friendship and you sincerely want to sell your home, play it safe and list
with someone who can be objective with you and who can get your home sold
fast. You should also never make the mistake of listing with a part time professional.
Selling a home is too complicated and too important to entrust to a part
time professional, who by not knowing the pitfalls and complications of
the business could embroil you in lawsuit. Another mistake is working with
a real estate professional who is not a Realtor. Realtors abide by a
strict code of ethics, so by working with a Realtor, you improve your odds
of hiring a good professional.
Lets separate the professional job of
selling your home from your friends. Keep your friends and sell your home.
Article Reprinted with permission
Jerry Fowler;
Real Estate Broker
Columbia, SC.
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