Real Estate Listing Myths 

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Large Agencies Sell Homes Faster – False.

10 years ago, this statement may have been true, but today there is no Data that shows that Large agencies sell homes any faster than smaller agencies, or even faster than For Sale By Owners, all, when on the MLS provide the exact same information to buyers.

Large Agencies have more buyers – False.

Less than 5% of all homes sales were purchased through the company which listed the home. This is a misconception held over from before Real Estate hit the Internet.

If an Agent tells you that they have buyers, simply invite them to bring you one and offer to pay them a buyer Agent Commission.

Real Estate Teams are more productive sellers – False.

Real Estate teams are very common today.  Fact most do not work as a team, they are simply groups of realtors who work under a common “Associate” Broker within an office, they do not work in the traditional definition of a “TEAM” to buy or sell homes.

Real Estate agencies will not show discounted/flat fee listings – False.

Buyer Agents don’t know if the listing side is discounted, the only commission information which is displayed in the listing, is for the buyer agent, which is based on the commission you chose.

Discounted Commission listings receive inferior service – False.

A full-service listing requires the discount listing agent to provide the same full service that any other Full Fee (6%) realtor provides, such as: Arrange Appointments, Accept/Present Offers, Advise on Offers, Assist with counter offers, Negotiate for seller.

Discounted Commission Real Estate Offices cannot survive – False.

Companies that manage expenses and keep overhead low, can significantly reduce commissions and still be profitable.  Large Real Estate companies are burdened with high overhead, such as Expensive Rent, office staff, and utilities, and therefore must charge higher commissions to pay the bills and keep the doors open, they rely on you to pay their expenses and bills.

Zillow is a Home Buying Site – False.

Zillow is a marketing site, less than 5% of the viewers of homes on Zillow are qualified buyers, approximately 80% of the homes you see listed on Zillow were initiated by an MLS listing and were automatically pushed out to Zillow.

Real Estate Listing Myths

Joseph Walter Realty

If you have a question about buying or selling your home, please reach out to Joseph Walter Realty at 248-294-7849 or via email: info@josephwalterrealty.com 

Thank you,

Scott Fader and Gary Brincat
Joseph Walter Realty

Joseph Walter Realty is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers, Realtors, brokers and anyone else in the real estate and business, so that together we can grow as a community.

 

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Seller’s Markets 

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Seller’s Markets and Their Effects

View Related: Buyer’s Markets

Definition

Seller’s markets occurs when demand exceeds supply. Meaning, there are more buyers seeking to purchase than homes for sale on the market. This often leads to multiple buyers interested in a single property, resulting in bidding wars or highest and best scenarios.

Seller’s Markets For Sellers

Value Increase

 A seller’s market is a fantastic time to sell your home. You can secure a sale price that’s higher than your listing price, or at least more than your bottom line (the lowest price you’d be willing to accept for your home).

Seller Note

Homes still need to be appraised for those using financing. If you are lucky enough to have a cash buy, this does not typically come into play.

Sellers should make sure their agents are creative in how they counter and accept purchase agreements. A good Realtor (Listing Realtor) knows how to handle purchase agreements in this type of market.

Seller’s Markets for Buyers

If you are buying a home in a seller’s market, be aware that the seller has the advantage.

Multiple Offers

If buyers are interested in the same property they will all want to get an offer in as soon as possible.

Trying to get a lower sale price will not work to your advantage.

In fact, you could lose the opportunity to purchase the property altogether if a competing buyer makes a higher offer.

There are Still Options

A seasoned Realtor works to win when competing in a sellers’ market.

Even with the offer not being the highest, there are statements and offers that can be built into the purchase agreement that will get you the bottom line and add value to the seller.

During a seller’s market, buyers may feel as though they are getting taken advantage of, and you are right.

Seller’s and the Realtors monitor the market and will know when the tide turns. Remember that markets will flip and become buyer’s markets too. 

Ultimately, You can push through these markets on either side. Missing out on your dream home for a higher offer should never be a factor that stops you from buying.

 

List Your Property
Service Coverage

Joseph Walter Realty

If you have a question about buying or selling your home, please reach out to Joseph Walter Realty at 248-294-7849 or via email:info@josephwalterrealty.com 

Thank you,

Scott Fader and Gary Brincat
Joseph Walter Realty

Joseph Walter Realty is a veteran owned company located in Michigan. Scott Fader and Gary Brincat are two of Michigan’s multi-million-dollar top producers. They have been working in real estate as brokers, Realtors, investors, property managers and real estate company owners for over 20 years. Together they would like to share their experiences, knowledge, success and failures to help buyers, sellers,

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