Why Your Real Estate Agent Matters
I’m going to tell you a couple stories you’re likely not hearing from the media. This is an inside look at how my team negotiates for our sellers and why it matters emotionally and financially.
In a hot market it can be tempting for seller’s to “save” money by hiring marketing based realtors or trying to sell a home on their own (for sale by owner). My team is referral based and market knowledge based. Here is why I believe we cost less at the end of the day even though we have higher fees than some agents:
The Mid-Century Gem:
The house was a pristine mid-century on a great street in SE Portland. Our client thought it was worth $575k but we looked at the market trends [not just past sales] and priced the home at $625k. We received 4 offers that were all over asking price but we were able to negotiate the over asking offers even higher to $670k. We also made sure we had a back-up offer in place. When the appraisal came in low we were able to negotiate to maintain the full contract price which saved our seller $40k.
Result: $40k saved is more than the total fee for both realtors in this deal. Sold for $45k over asking
The Fixer in the Foreclosure Process:
The house was a grand bungalow just off SE Hawthorne with a nice exterior but an interior that needed to be gutted. The owner was in foreclosure but had equity and we helped her navigate the process. We checked with title and the attorneys for the bank and made sure we had time to get the most money possible. We helped the seller clear out some of the years of debris that had accumulated in the home. We priced the house at $400k for a cash, as-is sale since the home wouldn’t finance. We called the surrounding home owners and all the builders and house flippers directly and got 14 offers on the home. We were able to negotiate the price to $503k. That’s $103k over asking. During the process the buyer tried to negotiate a lower price but we maintained the full contract price and even made sure the buyer took responsibility for the left over debris in the home as our seller was not able to deal with it [it was a couple dumpsters full].
Result: $103k over asking, as-is sale. If the owner had waited until foreclosure they could have possibly lost all the equity they had in the home. When we closed it the seller avoided foreclosure and took home over $260k which will help her daughter through college and cover the seller’s expenses for years to come.