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How to Determine if an Agent Is Right for You

If you’re planning on selling your house, it’s important that you find the right agent to help you sell it.

If you’re selling your house and an agent is trying to buy your listing, they’re simply over-guaranteeing on the sale price in order to convince you to list with them.

This typically happens when multiple agents are competing for the same listing. Sellers have every right to interview multiple agents, but keep in mind that one single agent can’t make the market move. A house will sell for what it’s going to sell for. What’s more, agents who become aware that there is competition for the listing also have a tendency to slant the figures and promise you more of a net payout on the house than what can actually be obtained. They do this knowing that they can always talk you into a price reduction later on.

Don’t listen to the agent’s promises—look at the results.

The question then becomes, how do you avoid this scenario when interviewing multiple agents?

The easiest way is to look at the results. It’s simple enough to look up an agent’s track record and their customer reviews on a site like Zillow. Once you’ve done your research and have begun the interviewing process, be wary of them telling you what you want to hear and trying to buy your listing. Remember—overpriced houses don’t sell.

You can also just choose to withhold the fact that you’re interviewing multiple agents from the agents you’re interviewing. What they don’t know won’t hurt them, and it won’t hurt you, either.

If you have any questions or topics in mind you’d me to address, don’t hesitate to give me a call or shoot me an email. I look forward to hearing from you!

How to Re-Enter the Market the Right Way

If you tried to sell your home once already and failed, how long should you wait before trying again?

If you tried to sell your home and were unsuccessful, how long should you keep it off the market before resetting and trying again?

The official reset time period for the MLS is 60 to 90 days, but buyers tend to be active on the market for anywhere between six and 18 months. This means the MLS will reset your house’s number of days on market back to zero, but the buyers won’t be fooled. They’ve been watching homes roll through for much longer to see what kind of deals they can get.

What does this mean for you? You can either wait an extremely long time to try again and do it the same way in the hope of introducing yourself to some new buyers, or you can jump right back in and correct all the problems that caused your home sale to fail in the first place.

Generally, these problems are limited to two areas: price and condition. The two of them almost go hand in hand; you can offset condition issues by price, and vice versa. The tendency is to assume your failure had more to do with poor marketing on behalf of your agent. While that can certainly be true, more often than not, it boils down to factors that you control yourself.

If your home is overpriced, you will compete in the wrong market & draw the wrong buyers.

If you’re overpriced, that dictates who you’re competing with, meaning you’re competing with the wrong houses and have the wrong buyers looking at your house. You’re doomed to fail right before you start. If you’re under-conditioned, nobody will want to buy your house. They’ll consider it all the way up until another home comes along offering them a better value or better condition for the same price.

At the end of the day, you’re better off hiring a new agent, making a rapid course correction, and jumping right back into the fray.

If you’d like an evaluation or some assistance with trying to resell your home with a different agent, we’d be happy to help. If you have any other questions, give us a call or send us an email. We look forward to hearing from you!

How the Middletown Market Has Improved in a Year

Summer is nearly over, but the summer real estate market isn’t. We’ve got an update for you today complete with the latest numbers for the Middletown market.

We’ve got a quick summer market update to share with you about how the housing market is doing right now in the Middletown area. To look at how the market is doing, we look at the numbers and figures for the most recent months vs. the numbers we saw at the same time last year. Here’s what we found:

Available homes are down by 9% from this time last year. Inventory is getting thinner.
The median price for homes has increased by $7,000 since last year.
The list-to-sales ratio has improved by ⅓ of a percent. Sellers are getting more for their homes.

You can get top dollar for your home now.

We are shifting more towards a seller’s market, which is great news if you’ve been thinking about listing. If you have any questions for us or you’re interested in getting your home on the market, give us a call or send us an email. We would love to hear from you.