As a real estate professional I look at lots of listings. Like almost every new listing! I have a huge database of buyers and sellers that my team is working with so I'm always on the lookout for their next home as well as scoping the competition for my sellers and potential sellers.
When you look at tons of real estate you start to notice the little things and start to understand that the little things lead to big things. I was looking at a property for a potential client this morning and noticed a car in the driveway of new listing. The photos are are pretty low quality and were probably taken with a cell phone. It got me thinking about how much effort would it have really taken to get the POS car out of the way to take a decent photo?
If you're a buyer you might be thinking what's the big deal here? If you're a seller you're should have a different opinion so I'm going to cover both sides of this from a professional standpoint. I keep repeating the word "professional" because it's going to lead to a very important point for you no matter whether you're thinking about buying, selling, or investing. Let's dive in!
So you're looking at homes to purchase and you see the home described above, obviously shot with a cell phone with a car in the driveway and without any real preparation from the seller or their broker. Here's what they're saying to a real estate professional like me and to you, the educated buyer working with a professional like me:
The broker is NOT a professional and we're going to smoke them in negotiations. The broker is either too cheap or doesn't care enough to invest in professional photography.
The broker and his/her sellers are NOT trying to get the most from their property. If you want the most from your property, why on Earth would you use a cell phone camera to sell the biggest asset you will ever own? If they're not trying to get the most they can for the property we certainly aren't going to give it to them!
We're dealing with a part time broker, a discount broker, or an inexperienced broker and we're going to beat them up. Do you really think this broker is going to fight for the value of this home? They didn't even take the time or effort to perform the most basic marketing tasks. They're showing the world that they're providing a low quality service so they should expect to be paid accordingly.
The seller is in some kind of distress and thought hiring the cheapest broker would save them some money. Well even in a great sellers market that's going to be an expensive mistake. The seller is saying I need to dump this property ASAP! Of course that's going to attract lower offers! It's human nature. The little money they're saving on commissions will get flushed down the toilet because the poorly marketed, and improperly priced home is going to sell for far less than the properly marketed home every single time.
And finally, the broker is showing us that they don't have the value of a professional and they're not going to fight for the value of this home.
Can you see how a little thing like a car in the driveway leads to big things ($$$)? Let's flip this coin over and take a quick look from the perspective of a potential seller.
So you're thinking about selling and now every point I just laid out from the buyer's perspective is applied to you as a seller! The photos for the property I've been talking about got me thinking so I went in to take a closer look at the actual listing to confirm my suspicions. In 1.2 seconds of reading the "marketing description" it reinforced everything stated above. The highlight of the inadequate description was that the property is hooked up to sewer and to come take a look! Wow! Now that's professional real estate advertising.
At this point part of me honestly feel bad for this seller. They're going to leave a boat load of money on the table selling this home. Here's 3 reasons you need to hire a professional to sell the largest asset you'll ever own.
A professional understands their value and the value of your home and will fight for both equally.
A professional provides services above and beyond the basics with high quality media, exhaustive marketing and thorough understanding of your home and your goals just to name a few.
A professional gets results! Higher sales prices, shorter marketing times, and an enjoyable experience because they have a higher level of commitment to their clients and their craft.
Today we went deep on what not to do. In my next post I'm going to dive deeper into what to expect from a professional listing broker. Whether buying or selling it's become very obvious that there is a big difference between professionals and amateurs. At Weichert we have a simple motto: We earn more because we do more!
If you'd like more info about buying or selling real estate in Central Oregon shoot me a quick e-mail at Justin@welcomehomebend.com to schedule a free consultation.