These days, there are many different ways of selling a home, either using a Realtor or you can do it alone, using online methods, such as setting up your own website or using Facebook or Twitter. On the surface, selling via a Realtor is one of the more expensive methods as they will charge you a percentage commission on the sale price, however, despite this, and the technology options now available, the majority of homes in the country are sold using a Realtor because of the following benefits.
Selling a property is not as easy as we would like it to be. That is why having a realtor may help with all the extra requirements that you would have to fulfill in order to put your house on the market and finding interested buyers.
Here are a few Basic steps that you can be prepared for:
The first major benefit of having a Realtor to partner up with is their expertise of judgement and knowledge of the industry. They have access to the data on the conditions of the market at a national, regional and local area, including your neighborhood. They can provide up to date information on financing options and comparative sales to ensure you are fully informed and they can help you set the right price for a sale in the time-frame you require.
It is true that on the face of it you would spend less money not using a Realtor, but you would have to pay to advertise your property and this is something the agent will do for you. A Realtor will usually use the Multiple Listing Service (MLS) which is the most comprehensive home listing service and will also work within a local professional network marketing your property to other real estate agents, which often brings in sales.
Your Realtor will also host open houses for you to save you the stress and inconvenience of showing people round, and often potential buyers are more comfortable when the owners are not present. Finally, the Realtor will help with all the complex paperwork and negotiations that can be very stressful and complex and ensure that everything that is done is within the law.
Homeowners may know the inside and outside of their home more than anyone else, however, this doesn't take away the burden of having to do everything on your own when selling a home. Realtors in Colorado Springs come in very handy when it comes to drawing up paperwork.
When it comes to paperwork and data information needed for comparison before putting a set price on your home, Realtors have access to it all. You would need to know just how much the homes on the market are going for today. Having recent sales pricing on properties around your area is very important, as you would need to put an appropriate and reasonable price on yours.
Being able to show your home to potential buyers is another important and crucial step to finding the right person you can sell your home to. This is a huge role that Realtors can play that will help in selling a property a lot faster. In case you had to attend work or run errands, your Realtor would still be available to help you put together an open house and start screening buyers and conclude feedback from them on what they think of the property. Appearance is also a key factor in drawing in more interested buyers to your property.
Realtors are more aware of how to display your home by suggesting all possible ways of your home's presentation that may improve your chance of making a good first-time impression on buyers. Statistics from a public survey has shown that most buyers are more comfortable touring a property without the seller present. In some cases, however, the seller must be present, so check with you Realtor first before planning your abscence.
In addition to a Realtor's knowledge of the real estate market today, they also have better judgement of income requirements to be legitimate buyers. In case buyers have questions that you cannot answer, Realtors can do it for you along with negotiating a price closest to your asking price, and filter out all unrealistic buyers so that you don't waste your time. Last but not least, a Realtor can help ensure that all contracts are in compliance with local regulations avoiding any legal issues that can arise.
Selling a home is certainly not a walk in the park type of task and if not done properly, potential legal problems can take place, in which case no one has time for. Being able to rely on a professional to get the price you are asking for is the best way to go. Many homeowners find that they come up short when selling their homes on their own. These are reaons why many sellers choose to partner up with an agent to have a better and profitable experience.
There are several steps to selling a property, but there is only one way to ensure a successful and speedy experience. Here are a few Q & A's that may help answer your questions surrounding the topic of working with a Realtor in Colorado Springs.
There are several ways to help determine how much your property should sell for. Some homeowners if they have the extra funds would usually go with purchasing a professional appraiser. However, attending neighborhood open houses, or doing your own research online through websites that offer free home valuation or for a smaller fee. Keep in mind that if you have a Realtor you shouldn't have to worry too much about this first step.
The best thing to do is to ask your Realtor what needs to be done. Obviously you will want the house to look clean and inviting but maybe it is worth painting and decorating or even renovating the kitchen or bathroom. They can advise you if you will get a return from your money. Remember it is important that your home stands out from other similar properties for sale in the area. A lovely garden can also make all the difference. A good idea is to ask your friends which feature they like best about your home and make sure it is highlighted. Remember to get rid of the clutter, those piles of magazines and remove furniture that isn’t used so the house looks more spacious.
If you decide to appoint a realtor then you should ensure you do your due diligence and see as many as you can before making a decision. You need to ask how much commission they will charge and what they will do to market your home. You should ask for their success rate and what they are suggesting the selling price of your home should be. Remember, 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. Choose a realtor who is successful and professional and who you feel will do the best job for you.
The main cost will be the commission to your Realtor which varies from 4% to 6% of the sale price of your home. You will also have to pay for any decoration or remodeling before you put your house on the market. In addition you may decide to pay some of your buyer’s costs towards their closing bill.
You firstly have to decide where to advertise it, whether online or taking out an advertisement in the local paper. You need to check constantly to see if these are producing results. Ensure that you have a cell phone available to take the calls from prospective buyers as they usually dislike talking to an answering machine. You should be prepared to receive calls from Realtors asking for your business, mortgage brokers offering you financing and even neighbors asking why you are moving. You will also have to ensure that your house is always clean and tidy and ready to receive prospective buyers.
The offer will tell you the price the buyer is willing to pay and under what terms and it is vital you review it carefully together with your Realtor. A good offer is one which close to the list price, sometimes exactly you’re asking price which means that you priced your home correctly. If the offer is less than you wanted, look at the overall contract, as perhaps the buyer will take on some of your closing cost. You should also look at when they want to close. Remember that time on the market to find another buyer is an additional expense. Once you’ve read the offer, you can accept the terms with no changes and sign it, make a counter-offer to the buyer or reject it.
You will work with your Realtor to develop a marketing plan and attract as many potential buyers as possible. The Realtor will advise a whole range of methods which may include a yard sign, advertising in the newspaper and the internet, and an open house. The real estate agent will normally talk to other real estate agents to help market your property as well.
You want your home to sell for the highest price possible but also as quickly as possible so setting the right price is important. The price will depend on a whole range of factors including the current state of the market in your area, the size of the house and the lot, how desirable the area is which will depend on amenities and crime rate.
When a property is overpriced, no one wins as opportunities are missed. Buyers will always check the prices of similar homes in the area and if yours is much higher they will not view it. If you do not get potential buyers interested then later you will have to reduce the price to that of market value or even lower. An overpriced home will attract those who are looking and not interested in buying and will imply that you are not really motivated to sell.
Whilst your Realtor will be working to sell your property no one has a more important role in the home selling process than you. It is up to you to maintain the property during the selling period and to ensure that it is always clean and tidy. You have to ensure that it is easily accessible for viewing so don’t go away for a month and not allow anyone access. You should ensure that you are always available to talk to the Realtor so make sure he or she knows a variety of ways to contact you. And when your Realtor needs information or copies of documents make sure you provide them quickly.
You should ensure that you make it clear to the buyer what the price of the house includes and what you will leave behind. The rule tend to be that you are expected to leave all of those things which are build in or fixed or fasted to the house, which would include lights and built in appliances such as dishwashers and microwaves. Also curtain rods, built in shelving and all plants which are not in pots. Some buyers may think some things are staying which you had planned to take with you so ensure that both parties are clear about what is staying and what is not to avoid problems on closing day.
Are you looking for an experienced Realtor in Colorado Springs? Contact Shane Ray today!