Important Questions to Ask Before You List Your House
1. What is the best time frame for listing a house?
The best time to sell a home varies depending on the area and the dynamics of that particular real estate market. Historically, late spring has been the national trend to be the best time to list and sell. Families usually want to wait until school is out, the weather is decent and when it won’t interrupt their summer vacation. Certain studies suggest homes that were listed between May 1st and May 15th sold 18.5 days faster than homes sold at other times throughout the year. These homes sold for around 1% higher than the average listing, netting a premium of about $1,700. Since every situation is different, home sellers should discuss the timing of their home sale with their realtor. In some cases, the competition is lower in the winter and fall months. A professional realtor will help you research the most strategic timing in your market22.
2. How will you market your listing?
A good real estate agent will have a detailed marketing plan to get your home sold. That plan will include posting property information on all the popular real estate sites online to expose it to as many people as possible. The agent will also distribute the property details to buyers’ agents and their own network of prospective buyers. Offline tools like Just Listed postcards, email/text campaigns and newspaper ads may also be used. The home seller can support those efforts by sharing the listing details with their own social media contacts and networks and posting flyers strategically around college campuses, libraries or other well-trafficked places. The biggest support homeowners can provide is making sure their home is priced right and kept in pristine condition during the selling process. Make sure the house looks its best in marketing photos, videos and during showings.
3. What is the track record of your real estate agent?
If you have a realtor, have you researched their records? How many homes have they sold in the past few years? What do their reviews say about them? Top-producing realtors will be able to find qualified buyers and sell your home as quickly as possible, so you should expect nothing less. These agents will have the facts to show you to back it up.
4. What does the listing agreement entail?
You probably already know by now that a listing agreement is a written contract between a homeowner and a real estate agent that explains the rights the agent has to sell the homeowner’s house. Both parties are legally bound to abide by the regulations stated in the contract, so make sure you understand all the terms and conditions. The listing agreement helps the homeowner know what to expect and is their greatest protection against negligence from the agent.
5. How is a comparative market analysis (CMA) conducted?
A comparative market analysis is a listing of homes similar to yours, called “comparables,” that are currently for sale or were recently sold in the area. A CMA differs from an appraisal in that it is prepared by a real estate agent, not a certified appraiser. The CMA demonstrates a reasonable price range you can expect from your home once you officially list it. Give our team a call to learn more ways to help your property get sold fast and for full market value.