house for sale, banking, building

Sellers

How do you sell your property?

Your first step should be to choose a Realtor®. A Realtor® is different from a real estate agent in that they follow the code of ethics as required to be a part of the National Association of Realtors. After you have hired someone as your listing agent (this is what they are called when representing you, the seller) they will run a market analysis and provide a strategic price for your property. They will discuss with you any areas of concern that should be addressed to help you maximize the profit potential.

What are areas of concern that you may need to address?

Your agent may suggest removing some personal items so buyers can see themselves living in your home. Or maybe the landscaping needs some attention to increase the curb appeal. Did you know curb appeal truly does matter? A recent statistic states buyers will pay up to 7% more for a home with better curb appeal. Your agent may also suggest packing up some furnishings if it seems a bit crowded. The more neutral the home can be the more people it will appeal to. And since you are planning to move anyway, you can get a head start on packing up some rarely used items.

What comes next?

Your agent will send you some important documents and gather information on your property. Once your home is prepped photos will be taken and your listing will be added to the MLS. The MLS is where all active agents can go to see what is available in their area. Having a Realtor® allows you to take advantage of this advertising channel and reach qualified buyers. Then buyers begin looking at your home and the offers begin to roll in!

How do you respond to the offer?

After you receive an offer(s) you decide if you agree to the terms. Your Realtor® will provide feedback on if it the terms are reasonable as presented or if you should counter-offer. The market conditions affect the terms, such as if you should make requested repairs or pay for certain buyer closing costs. Again your Realtor® will help you understand all these things so you can make informed decisions.

Closing costs!? What are closing costs?

Closing costs are all the costs associated with “closing” on the sale of your home. The Seller pays the commissions for the Listing Agent and the Buyer’s Agent, transfer fees, pro-rated property taxes, attorney fees (you have to make sure all the documents are correct), and sometimes things like fees associated with an HOA.