THE REAL ESTATE BEAR TRAP
by Neil Jenman Reading time: Apx 6 minutes When you sell your home, an agent will ask you to sign an agreement. That’s if you choose to use an agent;…
Recently, someone asked John a personal question:
Q: What’s your home worth?
A: John replied: “$1.2 million”.
Q: You sound very sure. Why so sure?
A: Because the house next door which is almost identical to mine just sold at a Public Auction for $900,000.
Q: Well, how does that make your home worth $1.2 million if the house next door – which, as you say, is almost identical to yours – sold for $900,000.
A: Because after the auction I introduced myself to the buyers, my new neighbours, and asked them if they were happy with what they paid – and they said, “Oh, sure, the HIGHEST PRICE we were prepared to pay was $1.2 million.”
Q: So, if you sell your home, will you sell by Public Auction?
A: No way. Auction may get a high price but common sense says they’re not designed to get the HIGHEST PRICE. I want the HIGHEST PRICE when I sell. So I’ll be looking for an agent who’s a skilled negotiator. I want my EXTRA $300,000 thanks!
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