Ask The Realtor!

My house has been on the market for sometime now.  We have many improvements, more so than other homes in the area, therefore my thought was we could get a better price for our house compared to others that have sold.  My Realtor feels we should lower the price, I feel we should stay where we are.  We have had many showings since it was listed so there is obviously an interest.  Do you feel since we have had so many showings, we should stay where we are in price?

I do not know your home and do not even know if I have shown it.  Your Realtor is your best source of information as they are receiving the feedback.  You mention that you have more improvements than the other homes in your neighborhood.  Is it possible that you have over-improved the property?  You also mention that you have had many showings on your property yet you have not received an offer acceptable to you.  Realtors can set the price based on other homes that have sold however the Buyers determine the purchase price.  The fact that you have had many showings but no offers, or offers acceptable to you, is a clear warning that your home is overpriced.  Perhaps not according to the comparables but according to the buyers.

My suggestion would be to speak with your Realtor, revisit the comparables and go over the feedback with him/her.  Ask them what their thoughts are regarding the price and listen to them.  The price you receive for your home has nothing to do with what you want, what you have invested in it or what you need.  It has everything to do with what a buyer is willing to pay.

I have received interest in my home from an investor that contacted me.  What are the steps in selling your home directly to an investor and not using a Realtor?  What will I have to do in order to get to closing?

I know this answer will not sit well with investors but I cannot stress enough how important it is not to sell your home in this way.  I receive this question at least 2-3 times a week which tells me that the investors are sending letters to either entire neighborhoods or homes that look as though they need work as well as estate situations.

Investors who are sending these letters want to obtain these houses for the least amount of money possible.  They will tell you they take care of everything including the Use and Occupancy and they will pay cash.  That is no different than listing with a Realtor.  We sell many homes where the buyer is responsible for the U&O and they pay cash.  Here is the difference:

When a home is listed with a Realtor you create demand therefore you realize more of a profit.  For example, an investor promises you a quick sale with a cash deal and they take responsibility for the U&O.  Sounds great, but I can tell you that you can realize much more profit by selling through a Realtor who has the ability to mass market your home.  We sell homes for cash all the time and in as-is condition. 

Do yourself a huge favor!  Speak to an experienced Realtor before making any decisions.  We work with many cash buyers and can create a demand for your home, many times with a quick settlement.

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