Real estate agents can make buying or selling easier and may even save money! In this article, nine ways homeowners can work with their agents to maximize the sale of their home; including prepping it before going onto the market, hiring an excellent agent, and setting a fair price.
1. Research Experience and Background
When selecting a listing agent, be sure to look beyond reviews alone and select someone with an intimate knowledge of your local market. One effective way of doing this is requesting a competitive market analysis designed specifically for your property – this will provide an accurate representation of homes currently for sale as well as recently sold similar properties in your neighborhood and how much similar properties have sold for.
2. Discover Their Commission Fees
Real estate commission fees are calculated based on a percentage of the final sale price, usually divided between buyer’s agent and seller’s agent; before making your decision to work together with someone, make sure all details regarding these fees have been addressed by prospective listing agents.
3. Consider How They Will Keep You Informed
As part of your initial interview process with potential listing agents, ask each one how they prefer to communicate with clients – some prefer email while others might prefer phone calls or even texts – as this may affect how informed decisions can be made. Also discuss when they expect you to hear back from them so you know when to make future plans based on accurate information.
4. Set an Appropriate Price
Your real estate agent can assist in setting an appropriate asking price for your home by using market research and recent sales in your area. An overpriced home may deter potential buyers and increase its length on the market; setting it too low, on the other hand, could result in missed out offers that could bring considerable returns for you.
5. Compare Offers
Once you’ve been presented with multiple offers, your real estate agent will assist in the negotiating process. Each offer must be evaluated on its financing terms, terms and contingencies before you decide whether or not to accept, reject, or counter it.
Once an agreement has been reached, the closing process will commence. At this point, you will likely need to cover any outstanding mortgage balances, transfer taxes and closing costs. Before signing your contract, have it reviewed by an attorney so as to protect yourself against issues which might delay or complicate the closing. After the closing date arrives, funds will be released out of escrow and directly into your account so you can move into your new home!