Why do you need a Realtor?
Not only are properties unique, but so are neighborhoods and requirements of sellers and buyers. It might seem easy to sell your own home with the internet and range of “for sale by owners” options, but buying and selling real estate is a complex matter. Homes differ, so do contract terms, marketing options, inspection requirements, pricing, negotiating, and closing costs. Working with an experienced realtor can help make the transaction viable and smooth.
Agent will meet with sellers and inspect the property that is going to be listed. It’s important to be realistic when setting a price. The agent will have a thought out evaluation on what the home will sell for based on current conditions, and if upgrades can be done to market the home better, what it can sell for based on the changes using a well prepared CMA (comparable market analysis).
Net Proceeds: When a price has been established and agreed by agent and sellers, a “net sheet” can be calculated that will show you what expenses to expect and what your proceeds will be to buy your next home.
A listing agreement must be signed with your agent. It is a contract in which you agree to allow your Realtor to sell your home during a given period and pay your realtor a fee when your home sells. The amount of compensation to your Broker is negotiable, so before deciding on the commission, the agent can explain the pros and cons of paying a higher commission than competing properties. The agreed upon commission structure will be noted in the listing agreement.
Since every home is different, your agent will provide you with advice and recommendation on how to prepare your home for sale. Buying a home is an emotional process and the home has to feel right or the buyers will look elsewhere. Your agent will advice you on how your home should be presented and staged to create a vision of your home. This will “paint a picture” for the potential buyers that will be seeing professional photos and virtual video of the exterior and interior of your home for listing.
There are many marketing strategy options that are available. Your agent will have the home listed on the MLS (multiple Listing Service), run ads on websites and other publications tailored specifically for the type of home you are selling, and mail or hand deliver “Just Listed” post cards to the surrounding neighborhood. Another most effective strategy is to arrange a tour of your home for local agents and scheduling an open house for the public. Your agent will have an onsite highly visible sign in front of the property for people to have a point of contact if they have any questions on the listed home. Your agent will develop a relationship to the potential buyers/buyers agent that will be viewing your home to find you the right buyer that meets your listing price and goals for the sale.
You can accept, reject, or make a counter offer once the buyers send your agent the signed purchase offer. Review and discuss figures with your agent and determine if it meets your amount and goals for the sale. Your agent will be the one negotiating in your best interest to the buyers side agent until an agreed price, terms, and conditions is accepted with both parties.
Escrow will be opened with agreed length of time allowed to close the sale once offer is accepted. When buyer and seller have agreed on inspections and no further negotiations are needed, buyer will removed contingencies and transaction is proceeded until close of sale. (Inspections for closing: Appraisal/Termite/Home Inspection)
The agreed terms of move out must be respected; this can be before the closing date or after. Once the title has been transferred, the agent will deliver keys to buyers side agent as agreed.