Like I said before, the single biggest issue on most home seller's minds is how to achieve the highest sale price possible. Although the market plays a large role in the selling price, the negotiating skills of the person responsible for selling your home is also crucial to you.
Negotiating does not have to be as intimidating or difficult as it sometimes sounds. Like anything else, if you have a proven system to follow, and know the signals and the language, you can almost always successfully turn the tables to be in your favor!
The most common and costly mistakes can be made unknowingly by anyone at anytime. Educate yourself on what NOT to do before doing any important negotiating.
The first most important negotiating rule is to know what you are legally required to divulge. The second is to not say anything more than this in front of someone who is not completely representing your interests. Smart sellers think through every single point they are trying to make before it is spoken.
A perfect example of this is while reviewing an offer blurting out what you consider to he your "bottom line" price. Most likely you just gave the buyer's agent information that he or she will pass on to their client & you will lose the chance of getting a higher price than this. You NEVER have to say anything infront of the buyers agent. Many times buyers agents are asked to leave before discussions over offers.
Many sellers feel great pressure to respond quickly if not immediately to an offer. The negotiating over price is one of the most important parts of the home selling process and it takes time to think about all the aspects of it and respond effectively. You are more than welcome to request more time, and/or a private conversation with your agent away from the buyers agent. To be even more secure than that, you may wish to have your legal advisor guide you toward your next steps. This is well within your rights, and something I personally encourage. These things will help lead you to a clearer and more effective desicion.
I have seen far too many times, sellers who feel obligated to throw in appliances, furniture, light fixtures etc. This is never the case. Unless certain items are specifically listed in your sellers disclosure, you are not at all expected or obliged to give them up.
However, If you were going to offer something, holding these items back until later in the negotiating process is actually much more effective in arriving at the price that both parties are happy with. These items can be used as good negotiating tools. If you were to give them away too early, you would have lost any potential leverage.
Dual Agency occurs when the offer made on your home comes from the same real estate company that you listed your home with. i.e. When both you and the Buyer are represented by agents who work for the same brokerage.
When dual agency exists, both YOUR agent, and the BUYERS agent are legally required to tell each other EVERYTHING that their clients say. So, if you don't want your buyers to know your "bottom line" price, or that you are willing to toss in the appliances if push comes to shove, then you should NOT give this information to EITHER agent at any time. Once that information is given to either agent, it must get passed along to the other. Your agent should ALWAYS make you aware of the implications of duel agency, so you can take away a clear understanding of this issue.
Feel Free to Call me if you have any Further Questions!
Make it an awesome day!
Glen Russell 610.792.3000
There are 4 COMMON strategies that most sellers use to price their homes. It it not wise to assume that a higher asking price will net you a higher selling price. In fact, the opposite usually winds up happening. Especially if you are not listening to what the market is telling you to do. Keep these 4 choices in mind when discussing and setting your asking price.
1. Clearly Overpriced
Every seller wants to make the most money possible for their home, and believe me when I say that agents know this. If there is more than one agent competing for your listing, the easiest way for him or her to win that battle is by telling you they believe they can sell your home for more than they actually can. This happens way too often with homes that are priced 10 to 20 percent over their true market value.
This is NOT in your best interest. The market cannot be fooled. This will leave your home sitting on the market for longer than anyone had expected, leaving you, the seller, with a couple drawbacks.
Far too often homes like this will just eventually expire off the market, forcing you to go through the entire process all over again!
2. Somewhat Overpriced
More than half of the homes on the market are 5-10% overpriced. These homes also tend to sit on the market longer. There is usually one of two facors here:
Either way, this strategy will cost you not only time on the market, but also price received.
3. Priced Correctly at Market Value
Some sellers understand that real estate is part of the system of supply and demand, and will carefully and realistically price their homes based on the market and analysis of other homes. These competitively priced homes tend to sell within a reasonable time frame and very close to the asking price.
4. Priced Below The Fair Market Value
There are always certain sellers that are motivated by a quick sale. These homes bring multiple offers and sell extremely fast. Usually in only a few days, at or above the asking price. HOWEVER, sellers need to be sure that the agent suggesting this method is doing so with your best interest in mind.
Make It An Awesome Day!
Glen Russell
610.792.3000
LIMERICK COMMUNITY DAY!
It’s that time of year again folks! Limerick Community Day is only a few weeks away. This all afternoon event is held on September 6th in LIMERICK COMMUNITY PARK, home of MANDERACK PARK from 11-4 pm.
Some of the days events include a 5K run, 1K Kids Run, or Tot Trot for the park. Registration begins at 8:00 am and prizes will be given out to all who enter!
There is also Music by Magical Sight & Sound DJ’s throughout the Day.
A SPECIAL GUEST APPEARANCE BY THE PHILADELPHIA EAGLES MASCOT, SWOOP!
Antique, Classic, Hotrod/Muscle Cars & Motorcycle Show.
Inflatable Area for Kids sponsored by NorthPointe Community Chuch, & Spring-Ford’s Rotary Kids Games & Activities.
Keystone-Miller Bloodmobile
There will also be Tables Set Up Throughout the Park with Local Business Vendors giving out Free Gifts & Services.
Keep A Look Out For The Glen Russell Team Table!!
Showing Our Support For The Community is Something My Team and I Look Forward to Every Year. We Hope To See You all There!!
Make it and awesome Day!
Glen Russell 610.792.3000
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Seving all of Montgomery, Berks and Chester County with a team of 9. My team & I have been the No. 1 Sales Team at Keller Williams Realty Group for 2 consecutive years.
** The Glen Russell Team has been the Number 1 Sales Team at Keller Williams Realty Group for 2 consecutive years! **
* Why hire 1 agent, when you can have an entire team? With the Glen Russell Sales Team, you get a whole team of professionals working for you. We never run out of time for you, because each of us is responsible for a specific process in the purchase of your home. Together, our combined efforts add up to superior customer service
* Glen offers specials & promotions to best fit your needs! These include learning how to sell your property yourself, while it's listed and pay no commission, a flexible commission schedule, the ability to cancel your listing at any time, a "no pressure" presentation, no advanced fees of any kind, and learning how to stage your home.
* There are a variety of offers ONLY Glen can give! Such as: "Your home SOLD or I'll BUY it, GUARANTEED!" "If you are unhappy for Any reason with the home you buy, I will BUY it back or sell it for FREE!" There is also Right Now Access, when you have priority access of every home and/or new listing just as if you were a MLS realtor!
The Glen Russell Team list and sell real estate in: Montgomery, Chester, and Berks County.
ONE SATISFIED CLIENT AFTER THE NEXT....
"The Team excelled at customer service. Getting back to us and answering all of our questions were no problem for them. We would use Keller Williams Realty & The Glen Russell Team again! We couldn't think of one thing they could improve upon." The Faiths
"We had a unique situation and the Team never gave up trying to find the right home for us. We have used the team more than once. Several of my family members have used the Glen Russell team for their real estate needs. They did an excellent job overall and always stayed in touch with us." - The Schaeffer's
"We had found a home we really wanted soon after listing ours. Glen calmed our fears of not being able to move forward by guaranteeing the sale of our home in writing so we could put in a firm offer with no contingency. Even better, the Team sold our home for more than our asking price in time to close on our new house. When we sold our first home with Glen, he offered an 18th month guarantee. If we were not satisfied he would sell our house for free. We decided to move within the 18 months, and his team sold us the home we always wanted - for FREE! Thanks Glen Russell Team!" The Santangelo's
"The very best realtor I've ever had; he's exceptional! Glen Russell helped me out so much. I can't say enough good things about all he did for me. He was always there to answer any question I had, and made me so relaxed during the whole process. He sold both of my homes in 3 days!!!!! The Glen Russell Team will never let you down." Dawn Wrenfrow 2005
"The Glen Russell Team excels at following up with phone calls and attention to detail. I felt like I was taken care of and someone was always in my corner. I would use The Glen Russell Team again. - Megan Bell
"In these uncertain times in the real estate market, we turned to the Glen Russell Team to sell our house. Having used the Glen Russell Team in the past, we knew that Glen and his team would be aggressive in marketing our house. To our delight, we received an acceptable offer within 10 days of listing the house. We were hoping for it to sell quickly, but never dreamed it would have happened so fast. We give thanks and credit to Glen and his team for marketing and ultimately selling our house. The entire selling process could have been a stressful time for our family, but thanks for Glen, it was a seamless transaction. It just goes to show you, if you hire the right realtor, your house will not sit on the market even during a slow period." Yvonne Rantz 2008
"I have had the distinct pleasure of working with the Glen Russell Team twice. The first time was to sell my mother's house. During this extremely stressful time, Glen was always available to take my call and answer every question I had. He had a list of contractors available, and I used several of them to work on the house. They all did great work and were very reasonably priced. Glen made solid suggestions and by following them, the house sold in 2 hours at our asking price. A year later, I went to the team again, but this time to sell and purchase a home for my family. I worked with Coleen and she was always willing to answer any of my questions and handle everything that i threw at her. She was extremely professional and such a pleasure to work with. Again, with the suggestions from Glen we were able to sell our home in 5 days. After a lot of hard work, this team put my family in our dream home! I have been tremendously pleased and satisfied with the energy of the Glen Russell Team. I would recommend this team of professionals to anyone buying or selling a house." Pam Myers 2005
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