Not all Real Estate Agents are created equal
If you’re like most homeowners needing or wanting to sell their house, you may have already experienced the effects of an un-qualified Real Estate agent. Like a good tattoo artist, not all agents are created equal, and should be vetted before signing over %6+ of your equity. Not doing your homework could lead to a bad tattoo, (I heart mom, anyone?) or to a home-on-market for a year without selling.
A good agent is like a good wholesaler…
If the real estate agent does not ask you for the reason you are selling your house, your red flags should start going up. You see, it’s hard to come up with a good strategy to sell your home quickly not knowing all the details. For instance, the agent might not know that you need to sell your house fast. Maybe you’re going into foreclosure due to a job loss, or perhaps you are going through a divorce? Most agents just want the listing. These listing collectors are not doing the home owner any favors by not digging into the problem and strategizing a solution to fit that sellers circumstances. Granted it’s not a Real Estates agents job to sell creatively, but a good one should provide an honest idea if the home can be sold conventionally and still meet the sellers criteria for solving the “why”.
Agents don’t set the price, the Market does…
Many homeowners will rely on the word of the agent to analyze the home and come up with a good figure to sell it for. A good agent is invaluable in this regard. A bad agent can sabotage your home-sell over what I like to call “perceived value,”. This ties back to knowing circumstances. Perhaps sitting on market waiting for that one buyer to give you the 20% above market price is something that won’t affect the homeowner? If holding cost is no issue, hold on to the home until it fetches that inflated price. If you need to sell your home quickly, calculating a reasonable price is essential. If you absolutely need to sell the home at an inflated price, it’s time to look at terms!
The wholesalers tool bag…
Knowing the homeowners reason for selling is the wholesaler’s first tool. It’s essential to listen, the devils in the detail. A good wholesaler and real estate agent will know the market and can offer a good idea of how fast the house can sell at any particular cash price. When selling your home for cash does not work with the details of the sellers situation, terms are powerful tools to sell the home quickly. A wholesalers full-time job is to network with investors, and can provide solutions based on the problem with real estate terms available in your state. Lease options, and selling the home under a wrap come to mind.
Keep in mind that a real estate agent is trained to sell a home under conventional means. It’s my belief that if the agent is knowledgeable in creative real estate deal structures, it would go a long way in exploring options and getting the home sold. Wholesalers are well versed in creative financing but keep in mind that like anything else, there are good wholesalers and bad ones.
There’s no excuse for not educating yourself!
I’ll keep this one short. You have many ways of gathering good information with phones and computers. There really is no reason not to do your own homework, both on deal structure, and the State Law!