Separating Fact from Fiction

I have always preferred going into stores where the sales staff informs rather than persuades. Most times I encounter a blend of both styles. When I sense that the information is heavy on persuasion and short on facts, I’ll usually shop elsewhere. But it’s a welcomed relief when I sense that the information is heavy on facts. It starts my relationship with the store on a most positive note.

Establishing a relationship with a Realtor can have similar challenges. Before a home seller selects a Realtor to list their home, they may speak with one or more Realtors before making a decision. A Realtor should be prepared to provide some biographical information, data on the home’s value, home selling tips and a marketing strategy. Here is some factual information to expect:

• Biographical information should include years of experience, certifications, number of transactions, verifiable references and examples of the quality of their work.
• Data on your home’s value should include recent sales of comparable homes. Comparable homes should be in the same neighborhood, similar lot, and with similar amenities. For example, a waterfront home should not be compared to an identical home on an interior lot.
• Home selling tips should be objective, proven and reasonable. Decluttering, paint touchups, and replacing rotted trim can have a positive impact on the home’s impression to potential buyers and can be done without much time or money. A suggestion to remodel the kitchen would also have a big impact, but in most cases would neither be a reasonable suggestion nor a cost-effective selling tactic.
• The marketing strategy should describe how your home will be presented and how the Realtor will get the listing in front of as many buyers and Realtors as possible.

The vast majority of Realtors are professional and stick to the facts. But Realtors are human and every agent wants listings. So here are a few tidbits of information that might be more designed to persuade than to inform:

• Stating that they already have a buyer for your home. Realistically, the odds of a buyer just waiting in the wings for you to list your home at the price you want is not very likely.
• Stating how quickly they sell homes. In 2010 in Montgomery County, the average time on the market was 132 days. A great listing presentation and marketing strategy help move a home faster, but keep in mind that some homes sell quickly simply because they are undervalued.
• Stating that they have buyers from foreign countries. That may sound impressive but in reality all MLS listings are easily accessible by anyone with an internet connection anywhere in the world. It is very common these days for Realtors to work with interested buyers from all parts of the globe.
• Stating that their website attracts more buyers than other Realtor websites. Bear in mind that once a listing is entered into MLS, it finds its way onto a vast array of both national and local real estate websites. The quality of the pictures and narrative are infinitely more important than the power of the website itself.

Montgomery County has a large number of professional, experienced Realtors with the confidence to compete for your listing with factual information and do not feel it necessary to puff up their presentation with vague claims and exaggerations. And it always pays to be a wise consumer, especially in a matter as important as selling your home.