worse, the seller remained unaware of the missed opportunity.
In summary: The seller lost a staggering $50,000 due to the incompetence of their agent. While such stories may not be an everyday occurrence, they happen more frequently than one might expect. It's a substantial risk when you engage an agent who lacks a proven marketing plan. Simply having a sign on the property could have garnered more interest, possibly sparking a competitive bidding scenario that could have driven the price back up to its fair market value.
Here's a similar incident to illustrate the point:
In this case, a seller enlisted an agent whose lack of competence cost her $25,000. The agent mishandled what should have been a "perfect offer." The buyer had submitted a full-price offer for the seller's home without any contingencies. Regrettably, the agent fumbled the opportunity by allowing a minor issue—something easily resolved—to derail what would have been a successful sale. The property remained on the market for an additional year and eventually sold for $15,000 less than the initial full-price offer. Even more disheartening, the seller had to continue making mortgage payments for another 15 months while her home sat unsold and unoccupied. Ongoing mortgage payments are an often overlooked cost when a buyer isn't secured promptly. Please take the time to understand the true value of your home, do your due diligence, and prepare thoroughly before listing your property. The good news is that by reading this book, you're already ahead of the curve!
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