Learning The Ropes From An Expert
Although selling is generally less complicated than buying a home, you will still need to do some "homework" and planning to ensure you get top dollar for your home. Here is a checklist to help you get started:
- Select a Realtor who is right for you
- Sign the listing agreement
- With your Realtor's assistance, review the latest real estate market trends and determine the correct selling price for success
- Estimate the amount of profit you will make from the sale
- Review financing options available to potential buyers
- Arrange for inspections
- Make any necessary repairs
- Prepare the home for showing condition
- Review the offers your Realtor presents to you
- Close the deal!
SELLING WITH A PROFESSIONAL BY YOUR SIDE
Now that you have decided to sell, you will immediately be faced with the decision to hire a real estate professional OR try to sell your home yourself. Given the complex personal and financial decisions involved, enlisting the help of an experience and objective professional can save you time, frustration and potentially thousands of dollars.
If you are still considering selling the home on your own, ask yourself the following questions first:
- Are you prepared to purchase advertising space? If not...
- Can you afford the time it will takes to sell...with only a sign in the yard?
- Are you willing to stay close to home for days, weeks, or perhaps months to show your property?
- Do you possess the necessary legal and financial knowledge to answer buyer questions, negotiate a contract AND close a sale?
If you answered "No" to any of these questions, perhaps enlisting a Realtor would be the most efficient and profitable way to sell your home. A Realtor will provide the following services:
- Access the Multiple Listing Service (MLS) which exposes your property to all cooperating member brokers
- Assist with pricing the house property based on a Comparative Market Analysis (CMA)
- Provide a detailed marketing plan
- Screen potential buyers for financial qualifications
- Provide suggestions for making your home the most attractive to potential buyers
- Show your home with your permission
- Answer buyer questions
- Present all offers for your consideration
- Negotiate for top dollar on your behalf
- Facilitate your closing process
SELECTING A REALTOR
You will be working closely with your Realtor for several weeks or even months. Therefore it is critical you not only choose someone with a great selling record, but also someone whom you feel comfortable with and can trust. A person with a professional manner and who will take time to listen to your needs and goals.
Ask friends and neighbors who have recently sold their homes for recommendations. Then check the selling history and credentials of any prospective candidate. Interview them about the techniques they use to price and market homes. Find out how accessible they are. Find out about their technological expertise. And, most importantly of all, make sure your personalities will "click" together.
After selecting the Realtor/company, supply all the information you can about your home. That person will be asked countless questions from potential buyers about taxes, utility bills, age and condition of appliances, insulation, room sizes and a variety of other subjects. Don't hide anything, especially any defects in the condition of your property. Failure to do so could leave you legally liable!