According to the U.S. Census Bureau, 1 in 6 Americans move each year and the average American will move 11.7 times in their a lifetime. Job relocation, job loss, downsizing, upsizing, and impending foreclosure are just some of the reasons why people move. It can be a very stressful time for many people, but there are some things sellers can do to make the transition go as smooth possible.
Leave the selling to a professional
It might be tempting to sell your home yourself and avoid paying the real estate broker’s fee, but you should be aware of the benefits brokers provide. Many people don’t have the ability to look at their home objectively. Realtors are professionals, well versed in home selling techniques and well deserving of their commissions.
They can look at your home and give you an impartial opinion on estimated value, what work needs to be done and how to properly stage your home for sale. Realtors will work with you to create an effective marketing plan for selling your home. Professional realtors also have access to the Multiple Listing Service (MLS), giving your home exposure to countless other real estate companies.
Interviewing a real estate broker
At a minimum, you should interview two or three brokers from different agencies. Compile a list of questions to ask prospective real estate brokers. The U.S. Dept. of Housing and Urban Development suggests asking the following:
- How many years have you been in business?
- How long have you sold houses in this area?
- How many houses did you sell in the past year?
- What is your commission?
- If I were to work with you, how would you market my house?
- Will you organize meetings with potential buyers and will you coordinate them personally?
- Can you give me names and telephone numbers of other families that have used your services?
Having your home inspected
It’s a good idea to have your home inspected. A professional home inspector evaluates your home's physical condition, structure and mechanical systems. He will identify items that need to be repaired or replaced and estimate the useful life of any major systems such as electrical, plumbing, heating and air conditioning.
Potential buyers will be conducting their own home inspection eventually so you should be prepared for what to expect. If your state requires it, confirm that your inspector is certified. Otherwise be sure he or she belongs to a professional organization such as NACHI, ASHI or NIBI. Home inspectors do not estimate the value of a house.
Clean and declutter
Be prepared to do some extensive cleaning and possibly a bit of painting. It’s easy to get complacent about how our homes look after we’ve lived in them for awhile. Your real estate broker will view your home and give an unbiased opinion on what needs to be done to get your house ready for showing. Your broker may advise you to paint, scrub tile, shampoo carpets, replace air filters and make minor repairs.
Many realtors agree that removing clutter and personal objects will greatly improve your chances of selling your home quickly. Potential buyers want to imagine a home with their belongings not yours. Clutter also makes a home seem smaller than it really is. Storing your extra belongings in a self storage facility can be an easy solution. PODS self storage units have the ability to be picked up and transported to your new home site. They also offer a money saving promotional code.
Negotiate for the best price
When you begin getting offers on your house, your real estate broker will again be a valuable asset to you. He or she will guide you through the negotiation process to get the best deal for you, as well as for themselves because their commission rate depends on it. Unlike buyers and sellers, real estate brokers have the ability to remove themselves emotionally. They’re familiar with your current local housing market and can advise on what’s selling, what’s not and why. Trust your agent and be realistic about how much your final asking price should be.
Real estate brokers help through the final process
Selling your home can be emotionally stressful, but hiring the right team of professionals to help along the way will make the process much easier. Proper planning and research combined with a little bit of hard work will have buyers making offers in no time. Your agent will continue to help you through the contract process and will ensure all details with lawyers and loan officers are worked out properly.
Sources:
- Population profile of the United States, U.S. Census Bureau, accessed June, 2011
- Interview with real estate brokers, U.S. Dept. of Housing and Urban Development, accessed June, 2011
Susan Barton - Susan Barton writes articles, Web content and more. Please visit her at http://www.lovesleftovers.com and ...
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