Selling a house with a Realtor can be a fantastic experience if you prepare yourself by asking the right questions before signing your listing agreement. A Realtor is not only a licensed real estate agent but also a member of the National Association of REALTORS®. Moreover, Realtors pledge adherence to a strict Code of Ethics ensuring that they always represent their client’s best interests first.
Selling a house on your own
Regardless of whether you have the best real estate agent in the world, or are determined to sell your own house, you will need to understand what is involved in selling a home.
If you are planning on selling your home on your own, you may want to make a list of exactly what that entails before you take on the added headache. Don’t forget to list variables like how long you can wait before it sells, how much you would save by not using an agent, and the extra time and energy you will have to expend to sell the home on your own.
On the other hand, selling a house with a Realtor can be a rewarding and cost-saving experience, so don’t rule out the possibility without giving it due consideration.
Selling a house with a Realtor
Using the wrong real estate agent can often make you wish that you had just sold the house yourself by the time you have finished the whole process. The most crucial part of using a real estate agent to sell a home is making sure you pick the right agent from the start.
An excellent way to start your search is by visiting their office as a buyer. That way you get to experience firsthand which agent impresses you with their marketing and promotional skills. Ask yourself, “Would I buy a home from this person?” Make sure you like them as well, but most importantly, judge firsthand who is the best at selling you on their clients’ properties.
Some agents will impress you more, and don’t let the deciding factor revolve around fees. A good agent will probably charge a higher commission, but will likely give you better service and be more capable of delivering the positive results you desire.
There are four fundamental questions to ask the real estate agent initially, once you feel you might have found the right person.
What price do you think my house will realistically sell for in this market?
Some real estate agents will quote the asking price that they would list your property for when marketing your home. Although the figure is important to know, it is far more essential to see what amount the agent feels your property will realistically sell for in the end.
Unfortunately, there are real estate agents who will try to impress you at the valuation by inflating the value for which your property may sell just to earn your representation. Everyone wants to hear that his or her property is worth more than he or she thought. However, these flawed expectations will only delay the process of selling your house quickly.
What data is the real estate agent using to arrive at your listing price?
Good agents will have done their research and can provide you with a Comparative Market Analysis, or Comps. Comps are the prices for which similar properties in your area have recently sold. The agent should also know what other similar houses are currently on the market in your area. Those listings will be competing for the same buyers as you.
How many applicants do you have registered that would be interested in buying my home?
A good agent will know exactly who they have on their books and be able to tell you if they have someone looking for your type of property. A Realtor with a ready pool of buyers is a good indicator of whether he or she can show people your house right away, hopefully resulting in a quick closing.
How often can I expect feedback from you?
Real estate agents should be providing you with regular updates and feedback regarding showings and what they prospective buyers are saying about it. As a result of feedback, your agent should be able to make recommendations about any further requirements your property may need to sell faster.
With the answers to these four questions, you should have a feel for your prospective real estate agent. Were they well prepared for the valuation? Did they exhibit knowledge about the market in your area? Were they transparent and straightforward when giving answers about price?
Besides preliminary preparation such as making sure your house has good curb appeal and that the inside is clean and uncluttered, having a good Realtor is one of the most crucial aspects. Your agent should be able to walk you through the whole process of selling a house with a Realtor, and if you want to sell your home fast, make sure you cover all the bases. Refer often to your list until you are satisfied with every detail.
Even though you are probably finding yourself in a buyers’ market, if you are realistic, attentive, and well-informed, selling a house with a Realtor should all go reasonably smoothly. There are many tricks on how to sell your home, and incorporating as many of them as possible at the same time is always the surest strategy to a quick closing.