Real estate is brutally competitive today.
Buyers have access to tools far better than the professional tools available to agents just a few years ago. They are extremely well informed about the market. These buyers are demanding and detailed. They expect every home to show like a model home and every seller to negotiate to a rock-bottom price.
Buyers know a great deal about your home even before they see it. And, you can bet that they know even more details before they make an offer, including what you paid for it, how long it has been listed, who financed your loan, the original mortgage amount, the taxes you pay, and much more.
Buyers study photos and videos of listings online, dig into school reviews, and area demographic data. They “walk the streets” in advance with Google Earth and the drive from neighborhood to neighborhood, smartphones in hand, tapped into a stream of instant, rich real estate information (for example, down my own amazing app just for that search: SEARCH APP ). They know what your neighbors’ homes sold for and they can view the details of your current competition: all of the similar homes for sale in your area.
What does this mean for you as a seller?
It means you need to be prepared and you need the right help. You need tools and skills on your side. You need an agent who can market your home using state of the art tools and proven tactics. The business of real estate today looks only slightly resembles what it did 5 or 10 years ago because knowledge has been democratized. What matters more than ever before is not just master that knowledge but also mastering negotiation skills. If you need and want the best possible terms, you need an agent who is competent, experienced, and a strong negotiator. You need an agent who knows how to work with savvy buyers’ agents and who knows how to win for you.