Selling A Home
Getting Your Home Ready To Sell
Selling a home can be a daunting task. You must first know what to ask for your home. That requires a massive amount of work to come up with a good price. You will need to know your asking price, as well as what you are willing to accept. You will need to investigate certain real estate statistics such as sales to price ratio to properly price your home. You will need the home to be properly measured to know exactly how large it is. You will need total living area as well as total square footage. You really should have the room dimensions for each and every room in your house. Its also not a bad idea to have a home inspection done to get a jump on any repairs that a potential buyer would ask for. Anytime a home is purchased, the buyer will have the home inspected. Most home inspectors go through a very similar checklist, so to knock that list down prior to listing your home is a good idea.
Marketing Your Home
Many people seriously underestimate how challenging it can be to market a home for sale. The days of running an ad in the newspaper and getting showings are long gone. Simply putting a For Sale sign in the yard wont do much either. Many For Sale By Owners feel that they can market their home on their own by placing it on Zillow or Trulia or even worst—Craigslist to get it seen by potential buyers.
The truth is, about 94% of all home transactions are done with a real estate agent involved. That means if you are not putting the home in front of REALTORS, you are missing the boat. Where do REALTORS go to look for listings? I will give you a hint…its not Zillow or Trulia, they go directly to the MLS – Multiple Listing Service. The only way to get your home listed in the MLS is to list it with a REALTOR — or a real estate agent (yes, there is a difference).
What Does A REALTOR Do?
A REALTOR will properly measure your home and do their due diligence in getting the asking price right. A good real estate agent will have professional photos taken and properly describe the home so it stands out. They should have a Marketing Plan in place upon listing your home so you should know what to expect. They will also make sure that you house is put in the all powerful Multiple Listing Service so its seen by other real estate agents in the area. Many of which have buyers waiting.
Real Estate Commission
Many people will attempt to save some money by dropping the real estate agents commission. This is a TERRIBLE idea! It may make sense on the surface, but keep in mind, Real Estate Agents are not doing this for community service. If they see that upon showing your home, they make less money, they are less likely to show it. Even if they do show it, they may go as far as recommend another similar home for sale that has a higher commission. The best bet is to dangle a big fat carrot in front of every real estate agent by offering a slightly higher commission. This will entice all of the agent with buyer to show YOUR home and not the one down the street. When they do show your house, they will talk it up as they would rather see a contract written on the house with the higher commission.