Myrtle Beach Real Estate May 2012

Greg Harrelson - Myrtle Beach Realtor

Myrtle Beach Real Estate – Protect your Equity


Another month has passed and before we know it the year will be over. I am sure you are getting a lot of reports via email and direct mail stating that the market is active. As I have been reporting, the market is doing very good right now in terms of number of sales. I cannot remember a time in the past 5 years when we have had so many buyers writing contracts.

I think this is the perfect time to discuss an important issue that can make a difference in the price you would get in the event you were to sell your property. One of my jobs is to do my very best to protect your equity when representing you in a sales transaction. I don’t feel that every agent in the marketplace shares that same goal. In many cases, an agent s main goal is to protect their commission or at least make a quick commission. The following are two things that you must look for if you are thinking of selling and maximizing your sales price.

Two Selling Strategies that will result in a sale - The Pros and Cons:


Selling Strategy #1 - Under-price your competition

Pros:

Owner: Quick Sale
Agent: Fast commission.

Cons:

Owner: Sacrifice Equity or increase losses
Agent: None


Selling Strategy #2 - Out-Market your competition

Pros:

Owner: Sold in reasonable amount of time
Agent: Sold in reasonable amount of time

Cons:

Owner: None
Agent: More work and knowledge required

Both selling strategies work yet they get totally different results. As you have figured out, under-pricing a property has its advantages for the agent, yet does nothing to protect your financial position in the property. When an agent works hard at aggressively marketing your property (Out-Market), the result is a sale that "protects your equity" and one that takes place in a reasonable amount of time.

This month’s conversation is a result of an active real estate market. As professional real estate agents, our job is to represent your best interests. I want you to beware of the agents that only talk about price and never talk about how they will market your property for sale. That is the first sign as to which selling strategy they will apply to your property.

You still have to look at the pricing of your competition to make sure you are in the correct range, yet if the goal is to "Protect your Equity" then you need someone who is willing to go to work and find ways to create buyer activity.

The market is not and will not be a "list it and sell it" market. Today’s market is a "market it and sell it market".

If you are thinking of selling a property, please contact us. You can see our focus is on the client’s best interest. We are not afraid to work hard to get your property sold. Most property owners have lost a lot of money in the past 6-7 years and now is the time to focus on protecting the remaining equity you have, or at least minimizing the losses you suffer!

As always, I appreciate you accepting us as your Myrtle Beach real estate Resource. You can always rely on The Harrelson Group to provide the most current and thorough information on Myrtle Beach real estate.

~Greg Harrelson, Century 21 The Harrelson Group