How Real Estate Agents Sell Their Homes For More

Posted on Thursday, June 25th, 2015 at 11:14pm.

Prime Edmonton Real Estate - Many homeowners are unwilling to pay a real estate agent on a home sale that isn't likely too profitable for them no matter what they do, as home prices continue to slump. Most people have heard of the well-publicized statistic that finds that when real estate agents sell their own homes, they tend to keep them on the market longer and get a higher sale price than when they sell homes for the clients. However, there are some less vile reasons why a real estate agent might be able to get a higher price for his or her own home.

  • Evaluating The Property:

Real estate agents know how to evaluate a property in terms of what is likely to garner the highest resale value. Therefore, they can most likely analyze the resale values of the properties they buy for themselves in an attempt to ensure higher resale value. 

  • Setting a Price:

Home sellers often choose a selling price for their homes based on three factors: need, ego or greed. Sellers often want to price their homes according to how much they need to get out of the sale in order to purchase a new property, particularly when the real estate market is demanding. 

Along with other economic factors, what a seller needs to know on a property has nothing to do with market conditions, they are generally governed by supply and demand. The same goes for sale prices that are dictated ego or greed. Just because your neighbor's house sold for a higher price doesn't mean yours should as well unless your home truly is more valuable or the market conditions have changed. Real estate agents understand this well and set the right prices for their homes.

  • Making an Impression:

As a general disposition, homeowners are shocked by visitors' first impressions of their home. A home is a reflection of its owner, so it's comprehensively hard for an owner to accept that other people find the decor, cleanliness or even the smell of the house distasteful. A real estate agent is often the acoustic board for buyers and their complaints about the homes they visit and therefore it is likely for him to consider these crucial details for his own house.

A home won't sell because the homeowner hasn't taken care of details like ensuring the house is clean and uncluttered. The decor should be neutral and the house should be staged to play up its best features.

  • Accepting an Offer:

Deciding which offer to take in terms of selling a house is the final and the most difficult piece of the puzzle. When an agent is selling a client's home, that seller is in the decision-making seat and the agent must balance his desire to get a price the seller will be happy with. When a home sits for too long on the listing, buyers assume that the price is too high and the sellers must be desperate to sell or that there is something wrong with the property. This can reduce the seller's chance of getting a fair price and real estate agents must balance this risk with the seller's desire to hold out for a higher price.

Perhaps real estate agents do sell their homes for more and there is nothing wrong about that, as they are experts in what they do, hence, they know the various risks. They exactly know when to take risks and also know if taking a certain risk may turn out to be unfortunate. They certainly cannot take risks for their sellers, can they? Think about it ...

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