Richmond VA Real Estate Agent - Value Versus Price
People ask me all the time if I specialize in helping buyers or sellers in the Richmond VA real estate
market. Truthfully, I enjoy working with both. When I am touring homes with buyers it is like having my own "House Hunters" show, sneaking a peak of how others live and discovering the charm of each property. I also like educating buyers on the process as real estate is constantly evolving, so no matter if you are a first time home buyer or you have done this before, there is always something new to learn. However, when I am hired as a Richmond VA real estate listing agent, I have to admit my heart goes a flutter like falling in love all over again. I can only attribute this to my passion for marketing, my competitive nature, and my undiagnosed OCD disorder. There is nothing more exciting than getting a property marketed to the masses and sold in record time, for top dollar.
Almost 9 months ago I received a call from a potential seller who wanted to interview me to sell their property. We set up the appointment and I immediately went to work on a comparative market analysis, otherwise known as a CMA. I was excited for the appointment as the home was beautiful (I did a drive by) and I knew how to market it. I went to the appointment and had a wonderful connection with the seller. However, they were interviewing other agents and inquired about my commission. Seeing another agent was willing to cut their commission, the seller decided to go with them and "save" money.
Fast forward to the present and that property is STILL on the market and it bothers me everyday because the Richmond VA real estate market lacks inventory
and that house should be SOLD by now. The seller made an error in not taking into account value versus price. What does that mean? Take for example Apple
products. Customers will line up for days for the latest and greatest IPhone, IPad, MacBook, etc. and are willing to pay more for the Apple product versus the competitors version because they find tremendous VALUE in the BRAND. I was a PC girl forever yet I went through a laptop almost every year. In a span of 3 years, I bought 3 laptops spending about $ 2,500 total. I finally realized, after speaking with loyal Mac users, the value of spending more NOW to save money over time. I am happy to report I am 100% satisfied with that decision.
Back to real estate. If you are interviewing Richmond VA real estate agents
to sell your property, please keep in mind the VALUE one Realtor may offer over the price discount of an other. All agents can place your property on the MLS
, but how do they differ from the others? What does their marketing plan look like? Do they advertise in the newspaper? If so, they may not be allocating their advertising dollars effectively as over 90% of buyers start their home search on the Internet. What social media sites do they use? My latest listing went under contract on the first day due to Facebook and connecting with other agents to let them know about the listing. Dig deep into what value one agent adds over the price of another. Sometimes it is true: you get what you pay for!
I hope one day the seller in my example gives me a call to list their home for sale. Their initial thought to save money actually just cost them 9 months of mortgage payment when the house should have been sold within a month or two. Don't get me wrong, I am not saying the house didn't sell because I wasn't hired. I am only pointing out when hiring a Richmond VA real estate agent one should take into account value versus price.
What is your property worth? Give me, your Richmond VA Realtor at the RVA Home Team
with eXp Realty, a call today for your free market analysis! 804-248-8207