Multiple listing Service, MLS Illinois, MLS USA



Wednesday, August 09, 2006

MLS TOWN: A REALTOR’S PERSPECTIVE


While selling a property, everyone looks for the best deal possible. Even the realtors face the problem of loss of money, in case the property is not sold. The realtors are often thought of charging a high price as the higher the prices in which it is sold, the greater will be the money earned by the Realtors. But it is not true always because it is the market forces that decide the right price and not the realtor. The realtor can ask or be directed to ask any amount for a seller’s property, but it is the purchaser who decides whether the price asked is worth it or not.
A property which is priced higher than the price it deserves in the market would require better marketing, more time and better showcasing. Only when the property is priced right that the deal fetched the greatest profit. The realtor is required to conduct a comparative market analysis, which can detect the best prices for that property. A common way to detect the best price is by analyzing the market. If your property sells in less than thirty days, it is possibly priced to low. If it sells in more than four months, it is possibly priced too high or does not look like it's worth the asking price from the prospective purchaser's point of view.
One reason the realtors keep a higher price for the property they are selling is on the direction of the owner who wants to sell his property for the highest price. Second reason could be that the realtor wants to buy the entire listing i.e. the realtor does not want to lose the property to another realtor who is willing to sell the same at a higher price. Another reason could be that the realtor wants to leave room for negotiation .i.e. the purchaser will always be willing to negotiate down, but if the price it more than 5% above market value most buyers will just pass you by and never make an offer. Real Estate sales and marketing is extremely competitive. It needs careful analysis and examination of the market before taking any decision and that requires the skills of a realtor.

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