As an alternative to working with an experienced real estate agent, you might consider selling your home yourself; however, if you choose this option, be prepared for a lot of work! It can and has been done, of course, but if you don’t have the time and energy to commit to it (or need to sell in a hurry), this option might not be for you.
If selling your home on your own sounds like too much work, which nine out of ten times, most do not have the time or the resources that a real estate agent may have, so it is best to use someone that is fully committed to selling your property, has access to a wide variety of resources and is focused on getting the highest price possible for the sale of your property.
When hiring a real estate agent treat it like a job interview and ask to see their resume. How long have they been selling real estate, are they a full-time real estate agent or part-time agent with another job? Are they a top agent for their area? How many properties do they sell on average each year? How do they plan to market your property? How do they plan to market your property and what will they do to make your property stand out from the competition? Hiring the right real estate agent when selling your property could mean the difference of thousands of dollars in your pocket when it’s all said and done. Picking a real estate agent because their commission to sell is 1% or 2% lower is not always the best option. Ask yourself this question, if the real estate agent is not confident enough to tell you why they are worth what they are charging in commission and they can’t negotiate their own paycheck how they will do negotiating the sale of your property.
Whether you choose to use a real estate agent or not, you still need to do your homework! The following is a checklist to help walk you through the process:
Know your property.
If you are not already, become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc. Look at the terms of your existing loan.
Research the current market and properties in your area.
How much are properties similar to yours selling for? What are the terms of the sales? What property disclosure laws do you need to take into consideration?
Set the price.
Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price. Remember don’t look at what other properties are listed for, see what they are actually selling for. If you see a property like yours that is overpriced it could set your expectations to high and have two negative impacts of the sale of your property. First you will be disappointed at the price you’re selling at when you do come to terms with a buyer because you will believe you are selling to low. Second you will turn down great offers that come in which will lead you to having your property on the market much longer making it become stale to the market and driving down your price lower than you may have gotten if it was priced correctly to start with.
Don’t take what your Realtor says about your property personal
When meeting with your real estate agent for the first time, put them at ease and tell them to give you their honest opinion about your home. Remember you and the agent should be a team working towards the same goal. Sale your property at the highest price in the shortest amount of time. Real Agents and Brokers hear comments and get feedback everyday on what buyers are looking for and what the latest trends are. This is an extreme example but let’s say if your home is painted purple. The agent knows this paint color will turn 90% of buyers off or potential buyers will what a deep discount because the paint color makes them start looking at the property and over analyzing it. Sometimes something as simple as the wrong paint color can make potential buyers start over analyzing a property which can lead to them to creating a laundry list of work they will need to do which can kills the deal before it even starts. If the real estate agent is at ease from the begging and knows he or she won’t offend you by suggesting a paint color change it will have the agent give you better service. Always remember the real estate agent is trying to appeal to the masses and their suggestions are not to offend you or your personal taste it is to help you sell your property and maximize your selling price.