Thinking about selling? Here are some helpful tips and tools!
What is my home worth?
Check out the prices of recently sold or currently listed homes in your area or neighborhood:
Although this will be the starting point for determining the value of your home, your REALTOR will also compare the age, condition and features of these properties to yours. Your REALTOR will also provide information on the price, financing, terms, and condition of competing properties available for sale, and will objectively recommend repairs or cosmetic work that will enhance the salability of your property.
Should I hire a REALTOR?
Today’s buyers are very informed. They know that if the house is listed with a REALTOR, the total sales commission is typically built into the price. When selling on your own, you’ll often find that buyers will expect a substantial discount since they know you’re not paying a commission, which generally means a lower sale price. On the flip side, sellers will find that they need the skills a REALTOR offers to market the home at the most responsive online websites, to negotiate the contract, to expose the home to more buyers, and to help with the myriad of details to bring it from signed purchase agreement to closing such as inspections, state-mandated disclosures, and the phases of the loan application.
How do I choose a REALTOR?
If you don’t already know and trust a particular REALTOR, we recommend that you interview at least three REALTORS, asking about their experience, what marketing program they would recommend for your property, and if they work in your neighborhood. And don’t be shy about asking friends, family and neighbors for recommendations as well. Studies by the National Association of REALTORS show that 82 percent of happy sellers identified their REALTOR through a friend, family member, or a referral from the REALTOR’s previous clients.
Preparing your home and you!
Selling your home can be an emotional process, so prepare yourself before listing your property. Everyone’s tastes and style preferences are different. You are selling your home, not yourself, so put away photos of your family, children’s artwork, and favorite collections so that they don’t become distracting to any potential buyers. They need to visualize themselves living in the home, not you. And try not to take suggestions from your REALTOR personally. The first impressions will either make or break a buyer’s opinion of your home, so make sure you put your best foot forward.
Price it right! No matter how well your home is advertised, if it’s not priced right, buyers will not look at it and you’ll lose your buyer pool. The longer your property sits on the market, the more people are going to think there’s something wrong with it. Another popular strategy in the current economy is to list your home just under market value, creating a sense of urgency with buyers who then tend to bid the price upward. Discuss pricing with your agent to decide the best approach for your home.
Always be ready to show. Selling a house is a full-time job and a potential buyer might want to walk through at any time, so do your best to keep your home in showing condition.
