MYTH #1
“Discount” brokers can do an adequate job selling real estate.
REALITY
Promotional costs such as photographs; brochures; newspaper, magazine, and TV ads; MLS insertion fees; printing; direct mail; personally distributed newsletters; professional support staff; Web-site maintenance and fees; signs; bus benches; and more are paid for by a full-service, full-fee agent.
Ask yourself:
· Will the discount broker offer a complete marketing campaign?
· Does the discount broker have a staff to personally attend to your specific needs?
· Does he/she have a proven track record of success, or is he/she using the discounted commission to win our business?
· Does he/she have the expertise to guide you through problems that may develop during the closing process?
· Will the discount broker be motivated during difficult times to go the extra mile for you, or will they move on to another deal that doesn’t take so much of their time?
· Your home is an asset to a discount broker and makes their phone ring. If your home sells, they lose business. Why would they want to sell your home for a discounted fee when they can make more selling other properties?
Remember that you only pay a commission if and when your property sells successfully. The supply of buyers through your home will be very restricted if marketing is limited.
MYTH #2
The Graham Group/Christopher Graham sells a lot of real estate. Perhaps they are too busy to pay attention to my listing.
REALITY
Just as superior restaurants are busy at dinner time and superior doctors have long patient lists, The Graham Group’s success in marketing homes provides us with many more homes to sell. Like good restaurants and doctors, The Graham Group has set up a top-flight team to assist with the routine details to free up agents to devote the time and attention required to sell your property successfully. The Graham Group built their business one satisfied customer at a time. For you to be another satisfied customer who spreads the word about how well you were served is [my/our] goal.
MYTH #3
You should select the REALTOR® who says they can get you the highest price.
REALITY
This is the oldest scam in real estate: Tell the seller what they want to hear, act excited, and compliment the home to get the listing. Then ask for a price reduction in a few days—or even a few weeks. Don’t buy into that. Insist on a written, well-researched market analysis. Select your REALTOR based on credentials and track record, and then use market data to decide on price.
NEVER SELECT AN AGENT BASED ON THE PRICE THEY RECOMMEND!
MYTH #4
Any improvements made to your home will add the total cost to the value of your home.
REALITY
While improvements to your home can add value, most improvements will not add the total cost of the project to the value of your home. The following chart shows some examples of this reality.
| PROJECT | COST | VALUE ADDED | COMMENTS | |
| Kitchen remodel | Low: High: | $15,000 $20,000 and up | 80% to 110% | Cost includes new cabinets, new countertops, rewiring, structural changes, relocated plumbing, custom cabinetry, and top-of-the-line appliances. |
| Bathroom remodel | Low: High: | $7,500 $10,000 | 80% to 115% | Cost includes new fixtures and fittings, tile floors and walls, structural changes, and relocated plumbing. High-end materials and fixtures raise the cost. Note: Adding a second bath can yield more than 100% in resale value. |
| Room addition | Low: High: | $30,000 $40,000 | 50% to 110% | Depends on the type of room. A family room or new master suite (remember to include cost of bath) will add much more value to a home than a private office or fourth bedroom. |
| Converting an attic, basement, or garage to living space | Low: High: | $10,000 $15,000 and up | 25% to 40% | Cost assumes no structural changes and no new plumbing. Value added depends on size of house (smaller house: more value) and type of space created (family room or bedroom: more value than a game room or exercise area). |
| Adding a deck | Low: High: | $5,000 $10,000 and up | 40% to 60% | The warmer the climate, the more value added. Size of deck, complexity of design, and added amenities (spa, trellis work) influence cost. |
| Repainted exterior | Low: High: | $1,200 $1,500 and up | 40% to 60% | Assumes old exterior was worn and repainting was done immediately prior to putting house on market. A new coat of paint probably adds the “best profit” when selling an older home. |
| In-ground swimming pool | Low: | $20,000 | 20% to 40% | Cost assumes an average-size pool (16' x 32') in a rectangular shape. Value added depends on desirability to future owner (banks usually do not include pools in mortgage appraisals). |
