This post comes out of a phone call I received today from a prospective Seller. I know he had some pre formed “Opinions” about Real Estate agents. He was not hostile, he was just a bit guarded.
He started by asking me if I was a Real Estate agent with REMAX. He then asked me my name – I said, “Connor MacIvor – like the TV show – MacGuyver – only spelled different.” – No chuckle, no laugh, just business from the other end of the phone.
He informed me, with his wife in the background, they wanted someone to give them comparables on their condo, which is located in Valencia CA, without viewing the property in person. I said, that should not be too much of a problem. Condo’s and town-homes are HOA controlled – to expand, add on – or modify in reference to square footage and size are not allowed.
Therefore – if the same “apples to apples” unit, same bedrooms, bathrooms and square footage, had sold in the past 6 months, I’ll have a good gage. The other factors that will need to be considered will be the location of the unit within the complex (is it on a busy street side, far away from the “play areas” or deep within the development)? What upgrades have been done to the unit itself – granite, sinks, toilets, flooring, window coverings, etc… Is it a top floor unit, bottom unit, end unit, do you have a minimum of common walls – or are you in the middle of two other units, on the bottom floor?
After gathering all of this data – I was able to prepare a CMA. Which I did – Sent an Eyejot Video Email and also sent the report to the caller’s email address.
Before we disconnected from one another on the telephone. He asked me my commission, I told him. I also told him that asking any other agent what their commission is – does not do him (the seller) justice. What will the agent do for what they are charging? That should be the question…
He then asked me about open houses. Would I be willing to have an open house every weekend until the condo sells? I said sure. I also said that 1% of open houses actually sell the home. But they do wonders for the agents. I don’t mind holding open houses. I cannot screen the visitors, mostly they will be neighbors, but maybe some of them want to sell too! I think he wants to see the “chosen agent” earn their commission with something that can be “seen” and that is “tangible”. – I’m cool with that.
Finally, he stated to me that he wanted me to do “well” on the Comps. I asked for clarification – he said that he was going to be interviewing multiple agents – and that I should do a Good Job on the comps. I got that to mean he is probably going to list with the agent that gives him the highest number reference to potential sales price. The problem with that is he is going to end up hiring an agent that is going to be chasing the market with the sellers listing. Also, the value of the properties for sale today depend on the Buyers appraiser. The appraiser representing the bank that is loaning the $$$ to the buyer.
That is a big deal and huge difference between the height of the market and today’s real estate practices. It is very common to have buyers appraiser reduce the value from the sales price – lower, due to them not seeing the Value in the listed sales price.
Be careful Mr and Mrs Seller. Get factual data and don’t let anyone secure your listing because they were “over pricing” it. Call us if we can help you further and thanks for calling the Paris911 Team with REMAX of Santa Clarita Valley CA. The Santa Clarita REMAX Website of the Paris911 Team