Top Home Seller FAQ’s
Selling Your Home
Selling a home that you have lived and lived for years hasn’t completely downloaded the old Slayer LP collection on Craigslist. It’s hard to be touched and, most importantly, it’s complicated. Throughout the process, there may be many problems in your mind, and it may make you sleepless all night.
Last week, we revealed the most frequently asked questions from home buyers. Since people at the other end of the agreement have a lot of ideas, today we will solve the most common problems that many realtors will hear from the sellers, and even get some answers.
Q. How much work should I do at home before putting it on the market?
A. Alyssa Blevins of the Pierce Murdoch Group said:
“Many suppliers are so anxious about the idea of having to clean and repair their homes, so that they avoid putting them first. Many times, things are much less than what the owner thinks.” – Alyssa Blevins of the Pierce Murdoch Group
In most cases, you may not need to do a lot before putting the home on the market. Before spending months and lots of money improving your home, or giving up altogether, allow a real estate agent to show the house. You may be surprised by the current sales prospects.
Q. How much is my house worth?
A. In 2016, the median house price was $228,000, but the exact price of your home will depend on your size, community and many other factors. What makes things even more complicated is its own bias: we tend to psychologically exaggerate the positive aspects of the home and eliminate those flaws that are too obvious the calculating mind of a buyer.
“It seems people compare their home to the most expensive property in the area”, said Mary Ann Grabel from Douglas Elliman in Greenwich, CT.
Instead, look at prices of similar properties that has recently been sold in the area. Agents will refer to data for comparing the price against the current market. Then, they will determine the average price of your location. At the same time, low prices can have huge advantages, resulting in multiple offers that may eventually increase their prices through a bidding war. Therefore, you should do your homework, and discuss a good and realistic approach with your real estate agent.
Q. How long does it take to sell a house?
A. On average, houses are on the market about 100 days prior to selling, although time varies by region and price. So set a competitive price and make sure you and your real estate agent are leading in as many aspects as possible. Spread the word through your own social network: real and virtual. You never know who will pass the special person to the sale.
“The bigger the risk exposure, the faster the quotation,” – Felise Eber, The Jills
The Jills, is a luxury real estate sales team in Miami Beach, a residential real estate branch of Coldwell Banker.
Q. Is staging really important?
A. Staged homes sell an average of 88% quicker, and for up to 20% more compared to those that are not staged. The reason it works is that it provides buyers with a “plan” that allows them to develop their own fantasy of owning a home and imagine living in their own home.
“Choose a neutral paint color and delete family photos. – Johnson
Give the aspiring owner a blank canvas that they can mentally design along with loved ones.
Q. Should I be present when the buyer sees my house?
A. According to Johnson:
“No, there isn’t any reason it would be appropriate. Buyers can become uncomfortable when the owner of the property is present. This makes them feel as if they cannot comment on things, or ask questions that might be taken offensively.”
Owners have attachments and history with the house, and tend to argue when potential buyers comment on things a bit negatively. This may prevent buyers and lose quotes.
Q. What is the agent’s commission?
A. Although the commission may vary, it is usually 6% of the house price and is usually shared with the buyer’s agent. But the meaning of this question is: “What are real estate agents doing to make money?” Keep the following facts in mind, unlike doctors that charge by appointment, or lawyers who charge by the hour, listing agents do not get paid until the sale is finished.
For each hour that a real estate agent spends showing homes to potential buyers, he/she usually spends an average of nine hours working for the client through networking, locating potential buyers, and completing paperwork. Don’t think all agents are equal either. The majority of contracts last a year.
Realtor Susan Ratliff recommends sellers:
“Interview at least three agents before choosing one. This is no different than choosing an accountant, attorney or doctor. You need to trust the person and be comfortable around them.”
Are you thinking about selling your home? Contact me today!