Seller FAQsLooking to sell your home but don't know where to start. Listed below are many helpful tips to help you get started. Feel free to contact us if you have any questions or when you ready for us to help you sell your house.What should I do if I get a very good or full price offer within a few days after I put my home up for sale? Be thankful! Most of the time, no one gets an offer that soon, much less a full price offer. Any time you sell real estate and get such a good response, you’re tempted to think that your house is under-priced. This is probably not the case. More than likely, the buyer was already looking for a home like yours, so when it became available, they jumped on it. I am aware of situations where the seller refused such a quick offer, because they thought they must have priced the home too low. In those instances, they waited months before receiving another offer. I want to sell my house. How do I know my asking price is reasonable? If you want to sell real estate, you have to think like a buyer. Put yourself in the buyer’s shoes and then ask the question. Is your asking price comparable to the asking price of other similar houses in the neighborhood? If it’s significantly higher, don’t expect a quick sale. If it’s under, you’ll sell your home faster. What’s the difference between a REALTOR and a real estate agent? Aren’t they the same thing? Although often used interchangeably, REALTORs and real estate agents are not necessarily the same thing. A real estate agent is anyone qualified to sell real estate in their state. A REALTOR is that and a member of the National Association of REALTORS (NAR) that subscribes to their code of ethics and conduct. REALTORS pay dues to belong to the local and National Association of REALTORS. The Multiple Listing Service (MLS) is a feature provided to REALTORS by their associations and only available to those agents who are REALTORS. Ultimately, either one can help you sell your home, but the REALTOR usually brings more to the table. Does it matter where a house closing takes place? Typically home closings take place in either an attorney’s office or a title company’s office. Both are more than qualified to handle routine home and loan closings. If the deal is a difficult one, however, the experience, qualifications and abilities of a real estate attorney may prove invaluable. A real estate agent is confident she can sell my house. Why does she want me to give her an exclusive listing for 6 months? A good real estate agent will be expending a lot of time, money and effort to help you sell your home. They want to be reasonably assured that they will be compensated for their efforts. They don’t want to invest all this effort, only to have their listing expire quickly and watch another agent benefit from the results of their hard work. Should I hire an attorney? If you are the least bit skittish about the paperwork or transactional aspects of selling your home, you should at least consult with a real estate attorney before getting your feet wet. An attorney can easily guide you through the home sales process. Should I offer to sell my house at a high price just to “test the waters” and see if I can get it? If you get an offer at or close to your asking price will you really sell your home? Or will you then think you can get more? I’ve never seen a real estate transaction take place where even one party was not motivated. If you’re not really serious about selling your home, don’t put it up for sale. Invariably, you will only waste your own time and frustrate serious buyers. What should I do if I’m selling my own home and a real estate agent wants to show it? Prior to putting your house on the market, decide whether or not you’ll compensate an agent if they help you sell it. It’s reasonable to expect to pay a commission if an agent sells your home. Realize that under this scenario, you’ll only be expected to pay ½ the “usual” commission, since you are the “listing agent” but you’ll achieve your goal of a sold house. Be sure and discuss the exact commission percentage or amount with the agent or broker prior to showing, and prepare a simple agreement outlining your intentions which you’ll both sign, so they know they’re covered. My real estate agent wants to price my home much lower than what I think it’s worth. What should I do? Your real estate agent should be able to justify their recommended price by the comparables of other similar homes that have sold and by those currently available. They want to be sure your home is not overpriced. If you overprice your home, other agents will not be inclined to show it and buyers will balk. Some very good real estate agents will actually refuse to list your home if you insist on setting an unrealistic price. After all, they have a lot of experience with home sales and don’t want to give you false hope nor waste their own time, money and effort trying to get an unrealistic price for your home. Is the county’s assessed value of my home realistic? Not likely. Although many counties and cities appraisals have gotten closer to reality, their assessed values for tax purposes are not a good indicator of your home’s value. Some are higher, but most assessed values are lower that the actual house value. My home has been listed for 3 months and only shown once. What can I do to increase traffic? First, examine your price. If you have the right price, re-examine the property. Is it prepared for the marketplace? Check out Preparing your home for sale. If all this is in order, how about adding a bonus for the selling agent? Sometimes when listing a home with an agent, the listing agent may be satisfied with a lower commission, but be sure the selling agent’s commission is in the range that they expect. Otherwise, they may simply pass up your property when showing their buyers around. Should I try and sell my home myself before hiring a real estate agent? Many people do just that! If you would like to try selling your home yourself first, by all means go for it! Just be prepared ahead of time to handle the calls and showings and have the proper paperwork available. If it doesn’t work out, you can always list with an agent. Do open houses work? Whether or not you list with an agent, open houses are a great way to expose your home to buyers driving around on weekends. Some agents use open houses as a way to get prospects, determine their needs and often find the right home for them elsewhere. But you really can sell your home with an open house. I have personally sold the home I was hosting with only one open house in that same home! So open houses can definitely work, but they don’t always work. Can I sell my house without a “For Sale” sign in the yard? You can sell your home without a sign, but you’ll miss a lot of prospects and some real estate agents if you don’t use a yard sign. A yard sign will help you sell your home, so use it if at all possible. You’ll be at a disadvantage without one and will have to overcompensate with other forms of advertising and promotion. |
