Frequently Asked Questions by Sellers

When it comes time to put your home on the market, there are many things sellers begin to ask themselves. We’re going to take a look at some of the most frequently asked questions by sellers and give you some advice from what we’ve found to be true in our collective years of real estate experience.

What do I need to do to my house before I list it?

The answer to this question is really on a case by case basis, but for the most part, sellers do not need to do a ton of work to their homes before they list. While many sellers can get very anxious and worried about all the things they imagine they’ll need to do to their home, most only require a good cleaning and perhaps a little staging, but that’s it. There is no need to drop a lot of money into your home in order to get it ready because that is money you may not get back when you sell. Unless otherwise advised by your real estate agent, the preparation to list is minimal.

How much is my home worth?

This is a question no good real estate agent should answer without first seeing your home and running what we call a comparative market analysis. A comparative market analysis, or “CMA” as we call it, looks at houses that have sold in your area that are similar to your own in order to generate a good price point for your home. This price will depend on many factors including the home’s size, neighborhood, location, amenities, upgrades, and so much more. Many sellers believe there home is the best home on the block, which it may very well be, but prepare yourself to be realistic about how nice your home is compared to others because you don’t want to overprice it. If you price your home too high, then it will likely sit on the market for far longer than you expected. However, if you price your home too low, then you aren’t maximizing on your investment the way you could be. Therefore, make sure you speak with an agent and listen to their advice so you can collectively land on a good price for your home.

How long will it take to sell my home?

According to Realtor.com, homes in the United States are spending an average of eighty-three days on the market. However, again, the answer to this question will vary greatly depending on the home. Some areas that are nicer sell far quicker than others, likewise, certain price points, no matter the home, will sell quicker than others. There are far too many factors here to have a cut and dry answer, so we would urge you again to speak to your real estate agent to make sure you are at the best price possible to make good on your investment, but to also sell relatively quickly.

Should I be present for showings of my home?

Most real estate agents would agree on this one when we say, “No.” When buyers go looking at homes, it can be either a very fun experience, or a very stressful one, either way, having the owner of the home at the house will only make the buyers feel uncomfortable. With the seller there, the buyers don’t feel free to be themselves, ask questions about the property to their agent, or voice any concerns they have as they view the property. The last thing you want is to scare off any potential buyers and their offers on your home with them, so it’s best to stay away.

How much do I pay my real estate agent?

This is something that can vary depending on the agency and town, but that will be something you and your agent discuss and agree upon before listing your home. A common commission is typically 6% of the home’s sales price, which is then shared with the buyer’s agent, giving each side of the transaction a 3% commission of the sale’s price. That may seem like a lot, but you have to keep in mind that agents don’t get paid by the hour, they get paid from sales. So, they don’t make money unless they sell your home. They are spending a lot of time and money networking, and advertising your home so it is seen by as many potential buyers as possible. However, not all agents are created equal, so make sure you find the right agent for you who will truly seek your best interest and do whatever they can to help you sell your home.

 

In all of your real estate adventures, remember to breath and take it easy. Find yourself a good agent who will make your transaction smooth and stress free, and not one full of fear and anxiety.

If you’re looking to list your home, you could call our office today for a free Comparative Market Analysis! Our number is 928-771-1111. We would love to help you sell your home!