Selling a house

July 26, 2007

hom.jpgBelieve or not, most of the selling happens through agent. A seller must know the psyche of the agent and he must find a “nice guy” who is ethical and efficient, which is easier said than done.            

1.What an agent does?      

Agents always love to inflate the value and would be happy to make better commissions than selling at optimum price. He always does two things viz., buying and selling for his customers. Lets say A &B are his customers. A would like to sell his home and B would like to buy a home. So he is having buyer and seller. He tries to ink deal with both of them to do favour while doing transaction (Buying& selling) for them. He tries to make money on the differences between buying and selling without knowledge of the parties involved in the process of buying and selling.                

2.How to choose an agent?  

It might be one of the toughest decisions in your life. You shouldn’t let your emotions run (Choosing your friends, relatives and neighbours) for selling the property than choosing professional agents. You must see whether your agent has knowledge in the market plus his experiences in this field and handling of critical issues of selling. Its tough but its possible.                      

3.When to make a call to sell?    

Are you sure that you want to sell a particular place. This should be your foremost question before making your mind to sell your property. If its yes, then you need to know whether you’re selling at profit after calculating your present value and future value of your land. You must know the right time to sell the land. You must always try to sell the land at optimum price than higher price (Blockbuster price), which you have to wait for months and years before closing the deal.

4. How to negotiate with Agent and Buyer? 

Agent: If you’re dealing with an agent you need to put a contract. Most of the deals are done through verbal agreement and in most of the cases said commission by seller, got paid to agent. Its always better if an agreement has been in writing than done orally. Unless otherwise you receive full payment from the buyer don’t commit your commission. Brokers or agents always try to make more money and they’d ask you how much you’d additionally pay if they sell your property at higher price than your estimates. You’ve to take right call for you. You must try to put “Expiry Clause” since agents might postpone real buyers inorder to sell your property at higher rates

 

Buyer: If you’re directly dealing with buyer you need to know what the price he is looking for buying his dream property. If you don’t know you must tell the optimum value of the place than try to play mind games with the buyer. You should try to provide as much as info to him to close the deal at your price.

 

Suggestions expected from professional brokers.

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