Myth: I have found a Realtor® that is going to charge less than they typical commission rate split between the list agent and the selling agent. I’m going to save money by not paying the prevailing commission rate.
FACT: If you offer less than the current prevailing commission rate for your area many Realtors® may show other properties with the current prevailing rate and pass over your property. Although having a standard fixed commission rate across the board is illegal, different Realtors® charge different percentages.
Myth: I am going to sign a listing agreement for 1 or 2 months and if the agent doesn’t sell the house, I am going to use a different one.
FACT: Listing contracts can be signed for any amount of time. However agents who do heavy marketing and advertising packages prefer to have listing agreements for a longer period of time. This is due to ad deadlines, creating marketing materials and the time it takes to deliver this to the public. Properties can be better marketed if the listing agent has additional time.
Myth: I’m going to be home for every showing to try and help sell my property to prospective buyers.
FACT: Being present during showings can make the buyer feel awkward and try to rush through the property. Trying to oversell the property while prospective buyers are looking around tend to make the sellers seem desperate to sell, possibly resulting in a lower offer. It is best to try and leave the property while a showing is going on, it gives the property a better chance of selling and the buyer a chance to stay open minded.
Myth: I’m going to live in my home as normal during the time it is on the market. I’m not removing anything, if the buyer doesn’t like it they don’t have to buy it.
FACT: That’s correct! If a buyer doesn’t like it they don’t have to buy it—but the seller is trying to sell it! Staging a property to sell actually helps it sell quicker and at a higher price. Staging DOES NOT have to cost money. Sellers can start by removing family photos, knick knacks, anything with writing on it and just basic de-cluttering. Living in your home while it is on the market is a little different than when it is not. Keeping everything tidy, clean and making beds has a huge impact on the way a buyer views your property. We also have professional staging services we can recommend on our CONCIERGE page.
Myth: I don’t want a lock box on my property and want my agent to accompany every showing.
FACT: Typically if there isn’t a lock box on the property, it makes the property less appealing for the buyer’s agent to show. Fewer showings equal less chances of a contract. In the ultra luxury market this is a different story. It is fairly typical for the agent to accompany the showing and open the property up.