Getting Your House Ready to Sell
When conversing with real estate
agents, you will often find that when they talk to you about
buying real estate, they will refer to your purchase as a
"home." Yet if you are selling property, they will often
refer to it as a "house." There is a reason for this. Buying
real estate is often an emotional decision, but when selling
real estate you need to remove emotion from the equation.
to Start Off With a High Sales Price?
you’ve decided to sell your home and have a fairly good idea of
what you think it is worth. Being a sensible home seller, you
schedule appointments with three local listing agents who’ve
been hanging stuff on your front doorknob for years. Each
Realtor comes prepared with a "Competitive Market Analysis" on
fancy paper and they each recommend a specific sales price.
Types of Listing Contracts
There are several different types of listing
contracts, but very few of them are used. The "Exclusive Right
to Sell" is the most common, but there is the "open listing,"
the "exclusive agency listing," and the "one-time show."
of a Listing Contract
Obviously the name of the seller and the
property address will be included in the listing contract. There
are many other things that are included, too, and you should be
aware of them.
Listing Commissions and Issues
In most areas there is a customary percentage that real estate
agents expect to earn as a commission. When completing the
listing agreement, you and your agent will negotiate and agree
on the amount of the real estate commission.
The Listing Agent & Marketing Your Home
When you bought your home, you probably used the services of a
real estate agent. You found that agent through a referral from
a friend or family member, or through some sort of advertising
or marketing. The agent helped you in many ways and eventually
you found the house of your dreams, made an offer, closed the
deal, and moved in.
Listing Agent - Marketing to Other Agents
Even before the sign is up and the brochures are ready, your
agent should list your property with the local MLS (Multiple
Listing Service). The MLS is a database of all the homes listed
by local real estate agents who are members of the service,
which is practically all of the local agents.
Listing Agent - Marketing to Homebuyers
Every home seller likes to be assured that their listing agent
or the real estate company will run ads featuring their home.
Newspaper ads could be large display ads with lots of listings
or small classified ads featuring just your property. Ads may
also appear in local real estate magazines and your listing will
also show up on the Internet.
Showing Your House to Home Buyers
Your house should always be available for
show, even though it may occasionally be inconvenient for
you. Let your listing agent put a lock box in a convenient
place to make it easy for other agents to show your home to
homebuyers. Otherwise, agents will have to schedule
appointments, which is an inconvenience. Most will just skip
your home to show the house of someone else who is more