Selecting a Sales Associate
Since you'll be working closely with your sales associate for several weeks or even months, it's crucial that you not only select someone who has a great selling record, but also someone whom you feel comfortable with and trust. A good sales professional not only has a solid track record, but also has a professional manner and takes the time to listen to your needs and goals.
Ask friends and neighbors who have recently sold homes for recommendations. Then check the selling history and credentials of any prospective sales associates. Interview them about the techniques they would use to price and market your home. Find out how accessible they are. Do they have voice-mail, e-mail, a cell phone? And most importantly, make sure you "click" with the sales associate's personality.
After choosing a sales associate/company, supply all the information you can about your home. The sales professional will be asked questions by potential buyers about taxes, utility bills, age and condition of appliances, insulation, room sizes and a variety of other subjects. Don't hide anything especially any defects in the condition of your property. Failure to do so could leave you legally liable,
The Listing Agreement
A listing agreement is a personal service contract between you and a licensed real estate broker describing the property to be sold and the terms under which it is to be sold. you are appointing a broker to market the property for a specified length of time and agree to pay them a commission for bringing an acceptable offer from a buyer.
You'll also be asked whether you want the property to be advertised only by the listing broker (under an Exclusive Right to Sell" agreement) or whether to allow other sales associate to advertise it. An exclusive agreement is the most popular because it provides more incentive for one broker to focus on your specific goals and negotiate for top dollar.
Pricing Your Home to Sell
Properly pricing your home is perhaps the most crucial factor in making a sale. If you set your price too low, you could lose thousands of dollars. If it's too high, you may discourage potentially qualified buyers and risk having your home sit on the market. and studies show, the longer it sits, the lower the price at which it is finally sold.
The "right" price is a balance between the maximum amount the current housing market will allow, your "competition" and your own time limits in selling. Although the greatest amount of buyer activity typically occurs during the first three to four weeks, a reasonable time frame for selling a house may be between 30 and 90 days. If a house is on the market too long, potential buyers may avoid the house, wondering if something is wrong with it.
So how do you determine the right price? Start by asking an experienced real estate professional to prepare a written Comparative Market Analysis (CMA) for you, which is discussed in the next section.
Learn More about Selling Your Home
