Northern Virginia Real Estate: Vienna, Oakton, McLean, Great Falls, Reston, Fairfax, and surrounding areas.

If you read our blog regularly, then you know we recently started a series on “Northern Virginia Myths in Real Estate“. (You can read our first post here.)

Now - it’s time for the second “Myth” - and more importantly - the TRUTH!

Myth: “The Belt Team, like many teams, is a full-service real estate team, but some real estate agents will discount their commission. It’s only sensible to list our house with the agent who will discount their commission.”

TRUTH: You usually get what you pay for! (Actually, with The Belt Team, you get even more than you pay for - total service - total support - and 9 superior professionals for the price of one average agent!)

Think about these questions:

• If an agent is that willing to give away his/her own commission….how willing is he/she going to be to give away the hard earned dollars you have put into your home?
• If he/she cannot even convince you of his/her own worth, how will they ever convince a buyer or agent of your home’s worth & value?
• And how able will the agent be in negotiating on your behalf for both the price and terms that will benefit you?!
• Does the agent have a track record of success? Or is he/she relying on a discounted commission to win your business instead? (You may want to use our “38 Questions You Need To Ask When Interviewing a Realtor To Sell your Home“ to find out.) 
• Is saving 1% or so in commission worth the risk of being represented by less-than-experts who might give in on your price interests as they gave in on their own interests?
• Would you choose a surgeon based upon his fee or based upon his/her reputation, experience, expertise & credentials? (We’re not talking about saving lives here in real estate, but we are talking about one of the most important financial investments you will ever make.)

It doesn’t matter what commission you pay if your home does not sell with the optimal terms and conditions that are in your best interests.

Don’t be penny wise and pound foolish! You really do get what you pay for . . . !

Contact The Belt Team for a FREE market analysis or for a FREE Seller consultation.

(And stay tuned to our blog for more Northern Virginia Real Estate Myths!)

As professionals in the Northern Virginia real estate market for almost 40 years, we often find Buyers & Sellers asking the same questions. So we thought it might be helpful if we address some of the “Myths in Real Estate” in a series here on our blog.

Here’s the first “Myth” - and more importantly - the TRUTH!

Myth: “You should ask each agent for their recommended pricing and select the real estate agent who suggests the highest price or is at least willing to go along with your ‘dream’ price.”

TRUTH: No! Always select an agent on his/her credentials. Market value is a separate issue.

Never let an agent “buy” your listing. It’s tempting to “tell you what you want to hear”, but integrity and a professional price opinion are in your best interests. No one has a crystal ball & pricing can validly have some variability, but pricing realistically from the start is one of the strongest tools you have in winning the “Sales Game”! Listen to your agent’s professional input and recommendations. Then make an educated decision and let the agent get on top of things at the start. Many agents will overprice a home in order to get the listing… and then ask for a price change down the line. You should insist on working with an agent with a proven track record. Ask the agent not only for a market analysis to determine the realistic amount your home will bear in today’s market, but also ask them what their pulse is on the market. Then price your home accordingly. Overpricing a home is the worst mistake you can make! Statistics prove that the longer a home is on the market, the lower the price it will sell for.

This graph illustrates what happens when Sellers do not price to “market”:

The chart above shows what happens in a “stable market”. Markets that are “shifting” (such as ours) find Sellers who overprice in even worse positions. Remember, first, select your real estate agent based on his/her credentials. Then, with your agent’s input, decide on price. Never select an agent based solely on the price he/she recommends!

Contact The Belt Team for a FREE market analysis or for a FREE Seller consultation.

(And stay tuned to our blog for more Northern Virginia Real Estate Myths!)

(PS - if you’re still thinking you may want to “test the market” at an initially higher-than-market list price - read our previous post entitled “Don’t Be Like Timothy Geithner“.)