Ask Phyllis!

The Importance Of Reconveyances

Dear Phyllis,

I have my home listed for sale with the agent who sold it to me.  My brother is a loan officer and has been very helpful in assisting me in analyzing my home’s value and reviewing offers.  I had one extremely low offer, which we didn’t respond to.  Later I  had another offer, which was close to  my bottom line but not close enough that we could reach an agreement. My home has been on the market for three months with just these low offers.  My brother believes my home is well priced, so I am not sure why our agent can’t get us a decent offer? What do you suggest?  MC

Dear Jenny,

That is nice of your brother to share his real estate knowledge. But your Realtor® will have the most expertise about your particular neighborhood.  Your real estate agent will, as do most of the full time agents in the Foothills, look at new listings every Tuesday.  This enables us to keep apprised of values and most importantly current market trends.  For instance, during market shifts we may see more homes which are staged.  More that have been  spruced up. We often see more brokers’ open houses with lunch or refreshments served. There are different nuances active real estate agents notice by being out in the field on a weekly basis.

There are two major factors in getting your home sold:

•  Is your Realtor® doing everything needed to get your home sold?

•  Are there professional photos?

•  Is print and online marketing in place? 

•  Are the marketing remarks in the Multiple Listing Service (MLS) compelling?

•  Did your agent host a broker’s open house and open house(s) for the public?

Are you doing everything needed to get your home sold?

•  Is your home available for showings with reasonable notice? 

•  Is your home clean and in show condition for open houses and viewings?

If you and your Realtor® have checked all the boxes, then it’s time to discuss price. I think you, your brother and your Realtor ® should meet and discuss comparables (comps).  These are current active listings (your competition), and very recently sold listings.  The reality is that your home is worth only what a buyer is willing to pay. I wish you the best in getting your home sold quickly at the highest possible price.