CHAPTER 3 What to Avoid
Imagine losing $50,000 on the sale of your home—not because the property wasn’t worth it, but due to mistakes that could have easily been avoided. Unfortunately, this scenario is more common than you might think, and it highlights the critical importance of working with the right real estate agent.
Here’s a cautionary tale:
A $500,000 property was sold for just $450,000. The seller, an out-of-town owner, hired an agent who was unfamiliar with the local market. This agent suggested a lower listing price and made minimal effort to market the property. There was no yard sign, no inclusion in the local Multiple Listing Service (MLS), and hardly anyone even knew the property was for sale. Two buyers were interested. One buyer, whose home was adjacent to the property, wanted to expand his yard for his children. The other buyer, looking for a larger plot to build on, never even had a chance to bid because the property wasn’t properly advertised. The first buyer quickly made an offer, and the seller accepted it without realizing they could have secured a much higher price. The seller missed out on a potential bidding war that may have driven the price up to its true market value. The outcome? The seller unknowingly lost $50,000 simply due to insufficient marketing and an agent who lacked a solid plan.
Another Costly Mistake
In a similar case, a seller lost $25,000 due to an agent's inability 7
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