Selling Your Home
Selling a home appears to be an easy process but can actually be a difficult task for a homeowner. Selling your home involves advertising your home, pricing the property accurately, marketing, being aware of real estate laws and regulations, locating qualified buyers, negotiating, preparing the required contracts, and organizing the closing.
In many cases when the Seller utilizes a licensed Realtor like myself, the home sells faster, and often for more money.
To help simplify the process, here are some things you should know about selling your home.
- Your Agent's Responsibilities
- Why You Should Utilize a Realtor
- How Long Will It Take to Get My Home Sold
- Pricing Your Home Accurately
- Bringing Out Your Home's Appeal
- Repair and Update
- Locating Qualified Buyers
- Closing the Deal
Real estate agents are experienced when it comes to selling homes. They keys to a fast and successful sale include: the local market, the price, the condition of the home, and exposing the home to potential Buyers. Your agent is well equipped to bring focus to the advantages of purchasing your home. In addition, agents:
- Have access to people who may actively be seeking to purchase a home
- Are experienced in locating pre-qualified buyers and negotiating the deal
- Will add your property into the local MLS so anyone in the world can view it
- Are available outside of normal business hours in many cases
Training and experience don't always equal a perfect fit when choosing an agent to represent you. Make sure you choose an agent whom you are comfortable with and that you feel you can trust.:
PROFICIENCY + TRUST = CONFIDENCE
- Proficiency: Research the agent before you meet them. The first time you meet an agent, you should expect to see a portfolio of credentials, sales volume and letters of recommendation. Make sure that the agent's background is consistent with your needs; that is, someone whose is honest, knowledgeable, experienced and familiar with homes in your neighborhood.
- Trust: When you first meet your agent, if you don't feel a sense of trust, it may not be a good fit. You're going to be dealing with your agent on a consistent basis, until your home is sold. This will be a time where you experience varied emotions. Your agent will share in the stress, frustration, anticipation, and ultimately joy and satisfaction of selling your home.
We believe these two attributes inspire the confidence a homeowner needs to be at ease throughout the selling process. This is what we strive to accomplish
Make sure to talk with friends, neighbors, relatives or anyone else who can make a trusted recommendation when it comes to referring an agent.
You should contact a qualified agent the moment you decide to sell your home. Meet with your agent and get your game plan in place. Many homeowners want to avoid paying commissions. Not paying those commissions for the agent's experience and expertise can cost you more in the long run.
In addition, peak selling seasons differ in various areas and are often dictated by the local weather. The warmer months seem to be the best time to get your home sold and your agent already has relationships with buyers who may be qualified to purchase your home.
During peak seasons, there is more competition when it comes to getting your home sold. Therefore, your agent must help your home to stand a cut above the rest in order to get it sold fast and for top dollar.
Average listing times can vary from 10 to 60 days or longer, depending on some key factors, which your agent can advise you on. When your property is first listed, it is necessary to create a sense of urgency in order to get the greatest number of showing appointments.
Buyers who schedule to see your property in the couple of weeks are typically qualified to purchase and may have already been working with their own agent.
After several weeks, the number of showings will more than likely decrease. Therefore, your best opportunity is during the initial listing to market the property and get it sold.
Buyers pay close attention to how long a home has been on the market:
- A home that has been on the market 1-3 days is one that peaks a Buyer's interest.
- As time goes on, buyers believe that the Seller should be willing to negotiate
- When the property is on the market for 45 days or longer, they wonder why it hasn’t sold and often believe that something is wrong with the home.
Despite the emotional attachment you have to your home it is only worth what a Buyer is willing to pay in your local market. This is the highest price an informed buyer may be willing will pay.
You will know if your home is priced accurately by the number of showings:
- If a property is overpriced, more than likely you will receive no showing requests and no offers on your home.
- If a property is priced based on its current value, you may have a few showings, and possibly an offer below the asking price.
- If the property is priced below buyers’ perception of value you should receive numerous showing requests, multiple offers, and possibly a bidding war.
It is your agent’s job to watch the market and determine how your property stands out against the competition. It is the broker’s job to make sure you position your property at a price to drive traffic to it and create the best conditions for more than one offer. This is why they recommend asking prices based on recent listings and selling prices of houses in your neighborhood.
To request an estimate of fair market value along with details of recently sold homes, as your agent for a Competitive Market Analysis (CMA) of your home. This is a free service, with no obligation.
You'll more than likely need to do some work to get your home ready to sell. One thing you must keep in mind: the Buyer has no emotional attachment to the home. Buyers are seeking a home that they can make their own and that meets their families needs.
As a rule of thumb, it is best to stay with neutral colors. Keep all rooms free of debris and clutter This applies to the yard as well.. Remember, when a Buyer sees your home, he or she is trying to imagine living in the space. Here are a few ways to present your home in the best light possible:
- Make sure that your "curb appeal" is neat, clean, light and debris free. New paint on your home, and immaculate landscaping, will cause a Buyer to want to see the inside of your home.
- Buyers look at every nook and cranny, so get rid of all clutter behind doors, and other areas;
- Once the clutter is gone, work to correct cosmetic flaws. Paint rooms, replace worn carpet, update light fixtures, replace cabinet hardware, etc. Many upgrades are inexpensive.
Some home improvements add value and can help your home sell faster. These include:
- Adding a central air unit
- Building a deck or enclosed sun room
- Finishing a basement
- Updating the kitchen
- Adding new floor and/or wall coverings, especially in the bathrooms
Some repairs will be in order to add value to your property. Ask your agent’s opinion when it comes to the likelihood of recouping the cost of major renovations before you begin work.
A licensed home improvement or construction company can help you come up with an idea of cost for needed repairs.
If the buyer's inspection reveals major problems with your home's mechanical systems or structure, the Buyer can negotiate to have them fixed properly.Some repairs are required if financing is insured by the government (FHA/VA).
You MUST disclose any problems that you know about before the sale. Sellers have been sued for failing to disclose known issues before a sale.
We will list your home in our local Multiple Listing Service (MLS). The MLS reaches millions of potential buyers around the world.
We design eye-catching advertising to locate the right buyer. In addition we advertise online, news print, radio, TV and direct mail.
In addition, we can hold an open house for other agents after your home is listed.
You will need to prepare for you and your pets to be out of the home during open houses and showings to potential buyers. Buyers often feel uncomfortable speaking openly and asking questions in front of the current owners.
Be mindful that when your home is sold that you’ll owe your agent’s broker a commission. We negotiate the commission up front when the listing contract is signed. Terms may vary. Our listing agreement is one year and can be cancelled in writing in most cases.
Your agent will provide you a step-by-step guide to help you through the entire process and what is expected of you.
Once all of the documents are signed, the home is sold. Congratulations!
We strive to make the experience of selling your home as stress free as possible. Even if you're not ready to list your home, call me and ask questions about the local market, price or mortgage trends.
Key Benefits of My Seller Services
Here are just a few ways I can help you with Listing and Selling Your Home.
Experience and expertise in the local market
Knowledge of rules and regulations
Awareness of current market trends
Strong business acumen and negotiation skills
Continuing education to provide you with the best service