Trusted Tips when Selling a Home
Choose an experienced seller’s agent
Many sellers make the mistake of choosing a realtor they know rather than investing time in researching agents. Selling a home has a lot of moving parts and a seasoned professional often sells a property for a higher price and has the expertise to properly negotiate and problem solve each step of the way.
Make sure your agent properly markets your home
Review how your agent markets their listings ahead of time and understands how to differentiate your home from the competition. Proper marketing includes maximum exposure to the right buyers, correct photography, and a clear understanding of the best selling points of your property.
Review data to determine best asking price
Correctly pricing a home is a critical component of selling. Many sellers make the mistake of listing with the realtor that recommends the highest price. Do not determine value from online estimate tools, such as Zillow, or price a home based on tax assessment. A knowledgeable agent will present legitimate sale and listing data you should verify. Doing so will help obtain the highest price possible when selling.
Understand total costs of selling
Make sure you completely understand the total cost of selling and obtain a closing cost estimate both when listing and at time of an offer. The estimates should obtain accurate loan payoff figures, explain how commissions are divided, and include a proration of property taxes. Only after doing so will you be able to accurately determine the proceeds you will generate from a sale.
Know the differences when interviewing firms
Many sellers make the mistake of choosing a firm based on size or a recommendation from a friend. Make sure the firm you select is reputable and ask to see statistical data which will help you compare listing to sales price averages, percentage of listings sold, and average days on market. Doing so will help you decide on a firms dedication to getting you closest to your asking price and, more importantly, gauge the probability your home will actually sell if you decide to list with them.
Have your agent monitor market activity and make adjustments
Make sure your agent continues to monitor the market place after listing and keeps your property up to date in MLS and online. You never want your home to look stale or overlooked. A surge in additional listings that compete with your home or price adjustments made by a neighboring seller could change the value of your home. Be sure you agent monitors changes and makes adjustments when necessary.
Ask you agent to explain which is the best time to sell
Many sellers make the mistake of assuming they should list their home a certain time of year, such as the spring season. More often selling when inventory is lowest is the ideal time to sell to obtain the highest price. A knowledgeable agent will study the market and understands the best time to list your home.