Exclusive or Mulitple Listing? LINKS Services LINKS Marketing Offers Contracts
When you first meet with a LINKS Real Estate Professional, they will prepare a Comparable Market Analysis (CMA) of your property to discuss with you. A similar appraisal will also be conducted by the potential buyers bank or Mortgage Company to substantiate the homes value before giving a mortgage commitment to the buyer, so this is a very important step in the process of offering it for sale. Recent home sales in your market area, not the current listed prices of homes not yet sold, will typically be used in this analysis. These sales figures will be from homes that are similar to yours in size and style. Your Real Estate Professional will explain the analysis process thoroughly. In addition, your Real Estate Professional will show you other homes that are listed for sale and can give you information about how long they have been on the market, their current prices and price reductions. This is important information as it shows what your competition is.
It is of critical importance to put your home on the market at the right price. That price ideally should be an objective number based on a number of factors, including the statistical market information that is currently available, and should attract the attention of the most motivated buyers in the first few weeks of your listing. Many sellers hope that by testing the market and pricing their house high, they will ensure getting top dollar for their house. This is usually not a good strategy and instead creates a downward spiral of price reductions. With sales at a slower pace and fewer buyers in the market right now, overpriced houses start out behind the market and at a disadvantage. The difficulty is that while all homes are unique, comparable homes compete with one another for buyers attention. Homes priced at market value are more likely to be sold expediently, while others sit on the market with price adjustments. Yes, some homes are unusual or highly customized and may take a little longer to find just the right buyer, but unfortunately, a listing that has remained on the market for a number of months with out price adjustements, raises doubts in the consumers minds and often brings in a lower price than it might have a few months earlier.
The LINKS strategy is to sell a house either at, or close to, listing price and market value. Very often a properly priced home will generate more than one offer, which puts the home owner in a better negotiating position and allows the seller to select the buyer with the most favorable terms. And remember, in many cases, time on the market is also costly, especially if the house is vacant. Your agent will explain what your options are so that you can make wise decisions regarding your best course of action when pricing and considering offers to accept.The commission for our services is usually a percentage of the ultimate selling price. Our commission structure is comparable with most Long Island Realtors®, however, LINKS offers many more services and propriety programs that other agencies do not.
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