Words By Donald Trump

HOW TO SELL A HOUSE

If you are selling your home and there is no or little activity, or activity but no offers, you should revisit the price.  The real estate market is volatile, and prices change daily. I always keep in mind the saying "Old listings, like old soldiers, never die - they just fade away" when it comes to pricing.  Also, don't worry about competition; count on it you will save yourself a lot of time. Competition may even help you by drawing in prospective buyers within the same market.

If you know your property is valuable, remain patient. As long as you're realistic about its value, there will always be a buyer eventually. Mar-a-Lago was sitting there a long time before I saw it and decided to move on that magificent site. I had the right vision for it, and the timing was right for me - and, utimately, for the seller as well.

Just make sure what you have to offer is the best, and you need not worry. If you have a broker, make sure he or she understands what the value of the property is to you. Buy don't be too bullheaded if your broker thinks the property is worth far less than you do. The broker should be the expert, and you're paying him or her not only for service but for advice.

Your broker, if he or she is good at the job, will strategically advertise the property's sale. A lot of interest is not necessarily always a good thing; be wary of a broker who fails to screen applicants and lets the whole world traipse through your house. Good brokers will screen applicants for prequalification, negotiate on your behalf for the best price, and facilitate the legal and financial processes. You will be paying the broker a substantial fee (usually on the order of six percent and sometimes higher), so he or she is working for you and should be working hard for that commission.

Some people try to sell houses without brokers-not a strategy I would recommend. But if you're feeling up to it, by all means, be my guest. If you want to be your own broker, then the best piece of advice I have is:Act like a broker. To do so will require a lot of guts, a lot of brains, and a lot of patience.

An artical by Lynnley Browning entitled "The Sweet and Sour of  'For Sale By Owner,'" in the June 6, 2004, edition of the New York Times, made it clear just how difficult (but also how money-saving) selling your own home can be. You should find her article and maybe pick up some books to help you along the way. You will have to educate yourself on title searches, legal forms, and the pricing market; you will also have to learn your state's disclosure laws to avoid being sued if the ceiling caves in or mold takes over after you have left. It all sounds like a headache to me, which is why I've always recommenced using a broker.



 
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