Expect that selling a home in North Park these days can happen quickly if properly executed. We keep hearing about how low the inventory is and what a great seller’s market we are in. Yes, we are in a seller’s market. However, because of this, we sometimes run across homeowners that believe they can get much more than what their home is worth, even though there are no comps that would support that amount.
For a homeowner that is thinking of selling their home, there are lots of things to consider. Choosing which Realtor to work with to help you with this process is one of those things. Although, there is the occasional home seller that may even think that in today’s market it doesn’t matter who you pick.
Which Realtor Should I Choose?
When selling a home, a homeowner may choose a Realtor because they charge a lower commission or work in what is called a discount brokerage. They may even pick a Realtor because the Realtor said they can get that seller a $50,000- $100,000 more than what the current comps say; even though there are not any comps to support that price. Some Realtors will say anything to get a homeowner to sign a listing agreement. Unfortunately, the home will sit on the market for months with no offers in-sight. In the meantime, the Realtor will try to get the seller to reduce the price and continue to do so until they get to a price where they eventually get an offer. The lack of upfront expectations has created an aggravated and unhappy seller.
With so much online information at our disposal, I can see where a homeowner may even think they can try to sell their home themselves or pick any Realtor whatsoever. You may think that this will save you lots of money. In reality, what it will end up doing is costing the seller thousands of dollars more in the long run.
Falling Out Of Escrow
What you are not able to find online is the track record of fallouts from many of these discount brokerages or individuals that will discount their commission for almost zero. What I mean by this is the number of times a buyer falls out of contract and the listing has to go on the market again. However, now you have a ton of scary inspections left behind from the previous buyer. You will now have to disclose all of this to the new potential buyer. If a possible seller knew how many times this Realtor/Real Estate company has fallen out of a contract because they were not able to negotiate through and complete a SOLD transaction, they may put more thought into who they hire to represent them with the sale of their home.
More Than Just a Sign
There is more to selling a home than just putting a sign in front of the house, taking photos 
and uploading your home into the MLS.(multiple listing services). Besides pricing the home right, picking the right buyers that are financially qualified to get a fully approved loan; there is also what happens after an offer is accepted and the buyer does their home inspection. This is where real negotiating skills come into play.
The Unique Challenges of Older Homes
In North Park, South Park and the metro area in San Diego, our homes are over 100 years old. If a Realtor is not experienced with selling older homes things could get a little hectic, to say the least. An experienced Realtor working with their homebuyer is able to walk them through the process of what to expect to see when a home inspection is done on these types of older homes. Even the prettiest homes that have been remodeled will scare the faint of heart when the inspector takes pictures under the house and completes his/her inspection. Foundations are old, roofs are old, windows are old. These are not cookie-cutter tract homes. Knowing this upfront will save all parties front lots of headaches. New home construction is not the type of house that you are going to find in San Diego’s Metro communities.
The Risks of Inexperienced Representation
If you live in North Park, chances are your home is one of these charming older properties. Accepting an offer from a seemingly motivated buyer with a Realtor inexperienced in older homes can lead to a challenging transaction.
Here’s a real-world example: A colleague of mine recently accepted an offer on a 1930s Craftsman Bungalow in South Park. The buyer’s inspection revealed old foundation, plumbing, and electrical components—typical findings for a home of this age—which left them shocked. The buyers then demanded a $100,000 price reduction, claiming the house needed a new roof, foundation, electrical system, and more. It seemed they expected a brand-new house with the charm of an older one, without understanding what owning an older home entails.
A Cautionary Tale in South Park
The listing agent received the buyer’s $100,000 reduction request and promptly brought in her trusted vendors to evaluate the high-ticket items flagged in the inspection. The vendors estimated the necessary repairs at $35,000. The seller, showing a willingness to negotiate, offered to credit the buyer with that amount as a price reduction. However, without any further communication or attempt at negotiation, the buyer’s agent abruptly submitted a cancellation.
This breakdown occurred because the buyer’s agent lacked experience with older homes in neighborhoods like South Park, North Park, and other metro areas. They were used to newer tract homes in North County, which differ significantly in structure and condition. This situation highlights the importance of working with a Realtor who understands the unique characteristics of your home and has the skills to negotiate effectively on your behalf.
When To Negotiate
Buying and Selling Real Estate is about negotiations and properly executing contingency periods. When I hear that someone just sends in cancellation papers without a conversation it makes me shake my head in disbelief. The buyer’s agent had no clue about older homes or negotiating through a transaction. Nor were they able to speak on the phone. This is simply a disservice, in my humble opinion to everyone involved in that transaction.
When a home falls out of escrow, the buyer’s agent typically sends all inspection reports completed by the buyer’s inspector. These reports must be disclosed to new potential buyers as “material facts,” which can unfortunately tarnish the property’s perception. Once the MLS shows the home fell out of escrow, new buyers might review the reports and assume the property is in poor condition, regardless of the inspector’s competence. In reality, it’s often just a reflection of the home’s age, not its overall integrity.
Pricing this home correctly from the start and completing key inspections upfront would likely have attracted multiple offers in today’s market. The buyer would not have been able to say that they did not know the condition of the home. Also, with multiple offers, the sellers would have then had other choices and would have a “JUST SOLD” sign in front of their house today.
Thinking of Selling A House in North Park?
If you are thinking of selling a home in North Park, South Park, or any area of San Diego and would like to speak to a local Real Estate Expert in the neighborhood, please call the McT Real Estate Group at 619-736-7003 right now. We would be happy to speak with you about the process of selling and how we go about preparing your home to enter the marketplace. Feel free to search our online reviews and see what people are saying.