The Koster Team Seller’s GuideThe selling process can be stressful and emotional. The laws on selling homes and the necessary paperwork that accompanies a sale is ever-changing. We help you navigate the entire process in order to minimize your stress and get you the most amount of money in the least amount of time. This is a snapshot of the selling process and will hopefully give you a better understanding of the process from beginning to end.
It’s important when buying a home to choose the right real estate agent. Below are four attributes to look for in a good agent.
A. Knows the Market
If you are new to the area or maybe it is your first time buying a house you will want an agent who knows the market well. Someone who is familiar with the area and can quickly place you in the right neighborhood based on your needs and wants.
B. Has the Right Credentials
Just like you wouldn’t go to your mechanic for a physical; it’s important that you don’t chose a real estate agent without the proper credentials such as:
CRS (Certified Residential Specialist): Completed additional training in handling residential real estate.
ABR (Accredited Buyer’s Representative): Completed additional education in representing buyers in a transaction.
SRES (Seniors Real Estate Specialist): Completed training aimed at helping buyers and sellers in the 50-plus age range.
C. Look for the Big “R”
If your agent calls themselves a “Realtor” with a capital “R” it means that they are a certified member of the National Association of Realtors.
D. Know How Long They’ve Been in Business
With longevity in the industry comes experience and the more experience a real estate agent can offer in their field the safer you as a client can feel, knowing that you are in good hands.
The selling consultation with your real estate agent is conducted to help your agent determine the condition of your home, any improvements you have made, the reason you are moving and just to get to know you better. This will help your real estate agent market, price, and sell your home.
Now that your consultation is complete it is time to set the listing price for the home. Factors like market conditions, condition of the home, neighborhood and whether it is a buyer or seller’s market all affect the price of your home. However, your real estate agent will work with you to decide the best price and best profit from the sale.
Before your home is listed, it’s a necessity to make sure it’s clean! Doing things like having the carpets shampooed, or the walls washed will help your potential buyers walk in and be able to envision their new home. Also, a well kept home raises fewer eyebrows and makes potential buyers feel more comfortable about their investment. Your agent might also have suggestions on temporary furniture arrangements in order to highlight your home’s best features. Take some time to do some minor fixes and updates around your home. Spending time repainting the walls or fixing leaky faucets and showerheads will be a good investment for you because it could mean making extra money selling your house.
Marketing your home will be up to your real estate agent to use methods that they know work best in your local market. This is where a good real estate agent who knows the market is invaluable. They might also know potential buyers for your home through their networks and connections. Either way your real estate agent will decide the best practices for the marketing of your home.
Your agent will help you determine whether or not the price and conditions of an offer are in your best interest. When you receive an offer you have three options.
A. Accept Offer
When the price and conditions of the offer are acceptable to you, then you accept the offer and move to Step 7.
B. Reject Offer
If you receive an offer that is way below the listed price of your house and you know for a fact that you can make more. Than you and your real estate agent might decided to reject the offer coming in. Once it is rejected the buyer may try again or they may not.
You might also decided to try to make a counteroffer, this is used when the buyer has made an offer and you want to see if they would be willing to spend more. Counteroffers have the potential to go back and forth several rounds before both parties are satisfied.
Once you have agreed on an offer it will move to the negotiation stage. This is the time when you negotiate the terms of the contract and tie up any loose ends before signing a contract. After everything is agreed upon it is time for you and the buyer to sign the contract.
After the terms have been set you now have a timeframe to get everything in order on your end. For example, if the contract stated that the buyer will conduct certain inspections then this would be the allotted time they would have to do it. Everything is predetermined in the terms of the contract. This is often called the “Sale Pending” stage and during this time a you can still be actively trying to sell your property and accept offers, should the offer fall through.
Once everything is squared away it’s time to pack your bags and say your goodbyes. You’re house is sold and you can move on to your new house.