When selecting an agent, the best source may be your family and friends. Many may have sold a property in the past and can refer you to an agent they found to be capable. Selling a home is a complex transaction, so experience should be a consideration.
Fees vary depending on the type of property as well as what is negotiated in the sale. Your Realtor® can provide an estimated closing statement to give you an estimate of what is to be paid as part of the sale.
Some costs include:
- Lender fees
- Escrow fees
- Home inspection
Selling your home involves many steps, from consultation to pricing, marketing to escrow. View our Seller’s Process for details.
You will work with your listing agent to develop a marketing plan and attract as many potential buyers as possible.
- Yard Sign
- Newspaper Advertising
- Open House
- …and many more
You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that influence the price of your home:
- Current real estate market conditions
- The expertise and market knowledge of your real estate representative
- Hard facts such lot size, square footage and condition of your home
- Desirability factors, including location, special amenities and property attributes
- Selling and listing price of comparable homes in the area
- A sophisticated real estate marketing plan
- Your level of motivation
- Conditions that do not affect the price of your home
- The profit you wish to make from the sale
- The amount of money spent on improvements
- The original price you paid for your home
Pricing your property with a ‘cushion’ for negotiation can be costly if it pushes the price above the fair market value range. To begin the negotiating process, you need interested Buyers. If overpriced, the number of Buyers that see the property is reduced, so the likelihood of an acceptable offer is also reduced. The best approach is to price a home just within the market value range. This allows room for negotiations, without sacrificing exposure.
When a property is overpriced, windows of opportunity are missed. Broker and buyer interest is at its highest when a property is initially placed on the market. But if the property is priced above realistic market value, the excitement and number of showings are greatly reduced. Later, it may be necessary to adjust the price below market value to compete with new, competitively priced listings.
The best approach is to price a home just within the market value range. This allows room for negotiation, without sacrificing exposure. Make no mistake; we want you to get the best possible price for your property.
However, when a home is priced too high for the market this may:
- Attract lookers, not legitimate buyers
- Imply you aren’t motivated to sell
- Reduce the number of showings
- Help competitive listings look better
- Cause financing issues for the buyer if the property doesn’t appraise at the higher price
- Ultimately force you to drop the price below market value in order to sell
No one has a more important role in the home selling process than you.
Here are some ways your participation can contribute to a successful sale:
- Maintain the property
- Ensure the property is easily accessible for showings
- Communicate – let your agent know how to contact you
- Remove or lock up valuables
- Secure pets
- Limit conversations with buyers/agents about price