The Big Myth in real estate.
How can I get the most money when I sell my home? That’s a good question most home sellers should ask before they decide to list their home for sale.
Because, it’s not really about the price you ask. It’s not even about the price you get. It’s really all about the check you get at closing.
You see, after commissions are
Larry Kendall of Ninja Selling recently explained The Big Myth to the Colorado Association of Realtors Fall Forum. It was held at the Broadmoor Hotel in October. Is there only one price for a home’s value?
deducted from a sales price, you receive that check as a net amount of your proceeds from the sale. Low-fee agents can charge less. But, that doesn’t mean you necessarily get more. It’s more complicated than that. Because, there really isn’t one price for any home that is listed. That’s the Big Myth in real estate.
Real estate Brokers add value to a transaction. Some add a lot. However, some add very little. It all boils down to effective marketing and negotiating skills. You see, the most potential buyers brought to see a listing adds to the final price. Sometimes, it even results in a bidding war. So, good real estate brokers will market across a broad spectrum. And, the Denver MLS should only be a one of many venues.
Negotiating and Marketing Add to Seller Value
Negotiating is also a big part of determining the proceeds a Seller ultimately receives. Effective negotiating involves good communication skills mixed good poker skills. Years ago, I learned that a broker who cannot negotiate a fair commission cannot be expected to negotiate a fair price for a Seller. Good brokers can negotiate a better price for a Seller.
A good broker will present a comprehensive marketing plan to seller at the first listing appointment. Look for that plan to go far beyond just putting your home in the MLS and hoping someone will sell it.
My daughter and business partner, Elizabeth Hotz, had her eyes opened at her first CAR Conference and Board Meeting last month at the Broadmoor Hotel.
I recently had a chance to my longtime friend and mentor Larry Kendall at the Broadmoor Hotel in Colorado Springs. Larry explained to me what “The Big Myth” in real estate really is and how it effects the amount of amount of proceeds a Seller gets. Larry is a long-time real estate broker and founder of “The Group”, Fort Collins’ largest real estate company. Now, he owns and operates Ninja Selling to train agents about best practices in the the real estate business.
I first met Larry in 1992 at our Kentwood Company Fall retreat held at the Stanley hotel in Estates Park. That’s where Steven King’s horror movie, The Shinning, was filmed. We all survived a frightful night there. The next day Larry presented a great program for Kentwood’s real estate brokers. From then to today, Larry Kendall always provides critical insights about the best practices in the real estate profession.
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