When thinking about selling your home, the most important factor is whether to hire an agent or go solo flight.
Advantages and Disadvantages of an Agent
Not having an agent would mean:
-No agent commission will be due. (But, if the client is represented by an agent, you may still have to pay 2%-3% in commission.)
-You may be accountable for guaranteeing the proper documents and paperwork is filed. Real estate attorneys will be invaluable for this task.
-Calls and showings will be totally up to you, and you may need to field offers on your own.
-Negotiating on all levels is completely your responsibility, as well as with the title company.
-Without the exposure an agent brings, the sale would possibly take a while.
Hiring an agent will help with:
-Listing on the MLS assures a lot of exposure and a lot of offers. Homes often sell for more when listed on the MLS. -An agent can help you set a good price for a prompt sale, since they know the market well.
-Agents can market the property, show it, hold open houses, and negotiate all offers for you.
-The real estate agency can help with a lot of of the needed paperwork.
If after reviewing this list you decide that you want to attempt selling without an agent, here are some tips to be sure you get top dollar.
Preparation
When considering putting your home on the market, selling quickly and obtaining the most you can are the top things on your mind. Careful planning and prepping your house for sale are what will make those things a reality.
Staging is a word that’s gotten many attention lately. All it really means is showing it at its best. Clear out all the clutter, clean like your mother in law is coming to visit, and touch up or repaint anyplace that requires it. Remove all personal items, like photos or odd collections. You want people to envision living there, and this will help. Curb appeal is even more vital; take a step back and look at your house objectively. What can you do to give it a homier feel? Fresh mulch and flowers help, as does a fresh coat of paint on the front door. Also, make sure any bushes are neatly trimmed.
Setting your value takes some research. Determining the market value of your home should take into consideration the square footage of your house, size of the yard, upgrades, neighborhood schools, and curb appeal. Internet sites will provide you a good approximation of the home’s value, but often they do not have the most accurate information. Get the most accurate market value by hiring an appraiser. This appraisal can then be used as a selling tool to back up your asking price.
Promoting and Showing
Selling is one of the most vital aspects of selling your home. Now that you have it in tip top shape and know what it’s worth, you need to be sure that people know it’s for sale. This is not an area to go cheap; use a combination of signs, the net, promotions, and residential flyers on bulletin boards.
Every showing could be a potential buyer, therefore be sure the house is spotlessly clean and ready for people to see it anytime. Be ready for both positive and negative comments, and do not expect that the very first people that come through will love it and buy it.
Once you have a possible buyer, you will have to negotiate offers. You can decline an offer or counter with a different amount. You may also need to be sure that you simply understand the paperwork and contracts that you are signing. If the buyer has an agent, they will likely put the paperwork together. Have your real estate attorney read over the documents and point out any inconsistencies.
You attorney or title company will prepare all the documents once the house is sold and the price is agreed upon. They usually will also set up a time for the buyer and seller to come to the closing table, and complete all necessary filings that legally transfer the deed.
Another great article by George Margalynn Real Estate, ReMax Associates of Fairbanks
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