March 1, 2024 Breaking News, Latest News, and Videos

Serious Personal Issues To Decide Before Selling:

Before deciding which agent to entrust your listing to, you might benefit from considering several factors. There is much, much more to selling a home at top dollar than putting up a sign, entering it into the multiple listing service, running a few internet ads, and having other agents preview the property. There is also a great deal more to successfully completing the sale process without hassles than in obtaining a signed contract and opening escrow. There are many costs and pitfalls that an experienced agent can help you avoid.

For example, and especially in the weak market we have been having, approximately 45 percent of the homes listed have failed to sell. This is often due to such factors as an agent’s recommended pricing strategy, lack of expertise in aiding the owner in proper preparations for marketing, and/or insufficient sales skills particularly in a highly challenging market.

Sometimes the little things that come up can make a big difference, especially if the seller’s agent doesn’t have the experience to know how to resolve them, or even better, how to prevent them from happening. With about one out of four escrows failing to close, you would logically want to have the best problem-solver and emotional hand-holder on your side.

Some people decide to list their homes with close friends or relatives, and do not recognize the potential drawbacks in doing so. For most people, there is just too much on the line to risk in such a situation, and to try to save some fees or do a favor for a friend may not be enough to offset the costs that are at stake.

Would you hire a new attorney to represent you in court or a recent medical school graduate for your surgery without exploring alternatives? Wouldn’t you interview more than one contractor before deciding who would have the most expertise to build your new home addition?

On a strictly personal level, there are several other factors you may wish to consider. If your relationship is fairly close with your potential real estate agent, would he or she be professionally able to be objective and completely candid in communications with you? Do you think he or she would feel comfortable telling you things that might hurt your feelings even though intended to be helpful? If the sale or escrow process had some significant difficulties, might that affect your relationship with them?

Is feeling obligated a reason to list your home with someone you know? Have you considered that you do have choices and alternatives? As long as you do not select an agent who is another friend or relative, you would not likely offend or upset anyone, and a good friend is likely to fully understand and support your position in such an important matter. You will also be avoiding the risk of losing a good friendship in the event that serious problems or issues come up during the sale and escrow process.

For most of us, our homes are our single greatest asset. Is it really worth risking potentially hundreds of thousands of dollars to do a favor for a friend or close relative? I have often cautioned owners to carefully consider the issues involved before making such an important decision.

Michael Edlen has been in the top 1 percent of all agents nationwide for more than 15 years and provides a broad range of real estate counseling and marketing services. He and his team of specialists can be reached at 310.230.7373 or at Michael@MichaelEdlen.com. Other valuable information is on his Web site, MichaelEdlen.com.

Related Posts

Film Review: Mission: Impossible – Dead Reckoning Part One

July 19, 2023

July 19, 2023

FILM REVIEWMISSION IMPOSSIBLE – DEAD RECKONING PART ONERated PG-13163 MinutesReleased July 11th The story in this “Mission: Impossible” chapter, “Dead...

Film Review: Indiana Jones and the Dial of Destiny

July 5, 2023

July 5, 2023

FILM REVIEWINDIANA JONES AND THE DIAL OF DESTINYRated PG-13154 MinutesReleased June 30th The director of Indiana Jones and the Dial...

Film Review: Past Lives

June 27, 2023

June 27, 2023

FILM REVIEWPAST LIVESRated PG-13105 MinutesLimited Releases June 2nd and June 9th, Full Release June 23rd The Korean concept of “In...

Film Review: Sanctuary

June 8, 2023

June 8, 2023

FILM REVIEWSANCTUARYRated R96 MinutesReleased May 19th In my humble estimation, this is one of the best movies of the year....

Film Review: The Little Mermaid

June 2, 2023

June 2, 2023

FILM REVIEWTHE LITTLE MERMAIDRated PG135 MinutesReleased May 26th With today’s technological developments, a live-action The Little Mermaid is not only...

A Riveting Revival of the Pulitzer Prize-Winning “A Soldier’s Play” Now Playing At The Ahmanson Theatre

May 31, 2023

May 31, 2023

On Stage With… Murder mysteries, whether cinematic or theatrical, are one of the most popular subjects. The list is quite...

Film Review: Chevalier

May 12, 2023

May 12, 2023

By Kathryn Boole  RATED PG-13107 MinutesReleased April 21, 2023 Chevalier is based on the true story of a historical figure...

Ballet at the Broad Stage Memorial Weekend – Meet the Talent!

May 10, 2023

May 10, 2023

Westside Ballet of Santa Monica returns to the Broad Stage with special guest artists kicking off Friday May 26th with...

Elizabeth McGovern Lights Up The Stage in “Ava – The Secret Conversations”

April 26, 2023

April 26, 2023

Play About Legendary Screen Star Runs Until May 14 At The Geffen Playhouse By Beverly Cohn Ava Gardner, born Ava...

Unconventional Art Festival “The Other Art Fair” Returns to Santa Monica This Weekend

March 31, 2023

March 31, 2023

140 independent artists, immersive installations, performances, DJs, and a fully stocked bar await visitors at Barker Hangar The Other Art...

Samohi Theatre’s “The Drowsy Chaperone” Takes the Stage in Santa Monica

March 1, 2023

March 1, 2023

Shows will take place at Barnum Hall on March 3 and 4 at 7 p.m. and March 5 at 3...

Film Review: “Marlow”

February 23, 2023

February 23, 2023

FILM REVIEW“MARLOWE”Rated R109 MinutesReleased February 15th “Marlowe” is a beautifully shot period piece that takes place in the late 1930’s....

Film Review: All Quite on the Western Front

February 22, 2023

February 22, 2023

I have never been a soldier at war, although I have close friends and relatives who have been. Universally they...

SMC Emeritus Concert Band to Hold Free Concert This Weekend at the Broad Stage

February 22, 2023

February 22, 2023

Concert February 26 will feature musical selections with an outdoor theme Santa Monica College’s Emeritus Concert Band, under the baton...