10 Common Home Seller Questions
Photo credit: Alan Cleaver
Answers and resources that could help get your asking price and sell your home faster
Someone sells a home every day of the year, but it’s not a common transaction individually, and there will be questions.
Below are ten of the most common real estate questions from home sellers
- Do I really need an agent to sell my home?
We are a real estate agency and will always say yes, but there are objective reasons why it’s worth hiring a real estate agent. The number one reason to hire a real estate agent is they are an incredible source of local market knowledge and know the importance of properly pricing a home for sale.
- Is there a right way to choose a real estate agent?
There’s no science to choosing an agent, but in general many homebuyers prefer to either use a friend or family-referred agent. Also, the folks over at nestr may be onto something disruptive with their take on finding an agent.
Here are 4 tips to choose an agent:
- Review prospective agents’ sales history
- Request previous and current client testimonials
- Don’t select based on the lowest commission
- Ask how they market their listings
- Why is it important to pick the right agent?
Not choosing the right agent can not only cost you thousands of dollars, because she or he is not an effective negotiator, but can cost you a sell because the price of your home is set too high.
- Which marketing strategies will you use to sell my home?
This is a big one. A home that is priced properly and well-prepared, should sell pretty quickly and for the highest amount possible. PEMCO Realty agents use Social media, open houses and content marketing to sell homes. Agents who are not utilizing social media or the internet to give their sellers homes more exposure are potentially wasting their time and costing them money.
- How is the list price determined?
While there are many online resources to get an estimated value for your home, these values can vary and won’t pinpoint a value as an agent would. One of the most effective methods to determine the market value of the home is the comparative market analysis (CMA). Other ways of determining market value include the square foot and appraisal method.
- What will it cost to sell my home?
Many sellers don’t realize there are costs to sell a home and it’s important to know what all the costs involved are.
Here are the most common costs of selling a home.
- Existing mortgages or home equity loans
- Transfer taxes
- Capital gain taxes
- Instrument survey
- Seller concessions (if applicable)
- Title search
- Home warranty (if applicable)
- Costs of various repairs from inspections
- Brokerage fees/real estate commissions
- Should I prepare my home for the market?
Preparing your home for the market in many cases will get you more money in a shorter amount of time. Keep in mind that there is only one chance to make a great first impression with a buyer. It’s important to not only ensure that your home is market ready, but it’s show ready.
- Should I stage my home or sell it empty?
There are pros and cons to staging a home. One of the pros is that some people prefer to see how rooms and spaces are utilized. One of the cons is that some people can’t envision what the spaces would look like with their belongings when the rooms are full of other people’s belongings. One consideration in determining whether to stage or not is the staging cost. Ask your agent to weigh in.
- How long will it take to sell my home?
There are many factors that contribute to how long it takes to sell a home and there’s not an exact answer:
- The current state of the real estate market
- Listing price
- Desirability of the home and neighborhood
- The effectiveness of marketing strategies
- Mortgage approval for buyers
- The number of inspection contingencies
- Closing document review efficiencies
- What should I avoid during the selling process?
There are some mistakes that home sellers should avoid such as hiring the wrong agent, not accommodating open houses, pricing the home too high and not being realistic with the negotiation process.
Staying clear of these big no-no’s will help a seller have a much greater chance of successfully selling their home.
Active Rain. 10 Common Real Estate Questions From Home Sellers
Written by: Ari Meier